KKR & Co. LP said Tuesday it closed a $2 billion real estate fund, with the help of Simpson Thacher & Bartlett LLP, that will focus on U.S. properties that have opportunities for adding value through improvements or redevelopment and repositioning.
Sunstone Hotel Investors Inc. has sold Marriott-branded hotels in Philadelphia and Quincy, Massachusetts, for a combined $139 million, according to an announcement from the California real estate investment trust on Tuesday.
Venture capitalists invested $71.9 billion in U.S. companies through 5,052 deals in 2017 — $164.4 billion globally — with software and health care companies garnering the most investments, according to a report released Wednesday by PricewaterhouseCoopers LLP and CB Insights.
Hedge fund billionaire Seth A. Klarman and his Baupost firms were hit with a complaint in Massachusetts federal court on Tuesday demanding disgorgement of more than $4 million in short-swing profits that they allegedly made off trading in stock of pharmaceutical company Innoviva Inc.
An Eighth Circuit panel on Tuesday affirmed the dismissal of a proposed class action alleging that Scottrade Inc. violated its duty to seek the best execution for its customers by steering their limit orders to venues that pay it rebates, agreeing with a Missouri federal court that the Securities Litigation Uniform Standards Act precludes the suit.
The former CEO of First Farmers Financial, who pled guilty in 2016 to running a $179 million real estate investment fraud, was arrested over the weekend while attempting to board a private jet to Ecuador two days before his Tuesday scheduled sentencing.
A warehouse-focused real estate investment trust serving food producers and a well completion services company for the energy industry, both private equity-backed, launched initial public offerings totaling $511 million on Tuesday, setting up pricings for next week.
A former Cambridge hedge fund manager admitted in Massachusetts federal court on Tuesday to running a Ponzi-style scheme that defrauded an unnamed wealthy family by stealing their Canadian investments.
Insurance firm W.R. Berkley is reportedly the buyer of real estate investment trust SL Green's office tower on Lexington Avenue in New York, Google is said to be eyeing space in Chicago for thousands of employees, and Triarch Capital has reportedly picked up a pair of Florida office towers for $22.5 million.
The Financial Industry Regulatory Authority plans to increase its focus on how broker-dealers handle initial coin offerings and cryptocurrency transactions, a booming niche that is attracting more regulatory attention, according to the organization’s annual examination letter Monday.
KKR & Co. LP, with assistance from legal adviser Simpson Thacher & Bartlett LLP, has clinched its second private credit fund after raking in $2.24 billion from limited partners, the private equity giant said on Tuesday.
A subsidiary of Blackstone Group LP has agreed to purchase Vancouver-based Pure Industrial Real Estate Trust for CA$3.8 billion ($3.05 billion) including debt, the company said Tuesday.
Two former derivatives traders at Deutsche Bank argued in a brief filed on Tuesday that prosecutors must call in someone from the U.K. industry association that set the London Interbank Offered Rate in order to prove the traders conspired with others to manipulate the lending benchmark.
The Sixth Circuit on Monday affirmed a district court’s decision that a brokerage firm must engage in a Financial Industry Regulatory Authority arbitration with a couple that was persuaded to invest hundreds of thousands of dollars in low-quality investments, saying the investments in question happened in the context of the couple’s customer relationship with the firm.
An investor in Bob Evans Farms Inc. launched a books and records demand in the Delaware Chancery Court on Monday, looking to investigate the proposed $1.5 billion sale of its packaged food and food-service lines to cereal giant Post on suspicion that directors may have fiddled with financial projections.
Simpson Thacher & Bartlett LLP said Monday that one of its former partners is rejoining the firm after a six-month stint as the temporary head of the Office of the Comptroller of the Currency.
Real estate investment management firm Heitman LLC has bought out U.K. investment company OM Asset Management PLC’s 50 percent stake in the firm for $110 million, according to separate announcements from the companies on Monday.
The U.S. Securities and Exchange Commission on Friday asked a Texas federal court to sign off on a final judgment resolving the agency’s remaining claims against a disgraced investment adviser who admitted to stealing more than $1 million from clients in what prosecutors called a “scam within a scam.”
Futures brokerage MBF Clearing Corp. failed to convince a Chicago federal judge to dismiss a $33 million fraud case brought by failed investment firm Sentinel Management Corp., with the court saying Friday that MBF’s concern about Sentinel’s change in legal strategy was “overblown.”
Hamborner REIT AG has purchased four retail properties in Germany for a combined €58.6 million ($70 million), according to an announcement from the real estate investment trust on Monday.
The 2008 Siemens matter — then the largest sanction ever imposed in a Foreign Corrupt Practices Act enforcement action — set the stage for future cross-collaboration in global anti-corruption enforcement, say Cheryl Scarboro, former chief of the FCPA Unit at the U.S. Securities and Exchange Commission, and Diana Wielocha of Simpson Thacher & Bartlett LLP.
Both the Dodd-Frank Act in the U.S. and rules under the Financial Conduct Authority in the U.K. provide whistleblower protections for financial industry employees who report fraud and regulatory breaches. Whereas the specific protections in the U.S. and U.K. differ somewhat, many of the protection mechanisms are remarkably similar, say Lynne Bernabei and Kristen Sinisi of Bernabei & Kabat PLLC.
The past year saw an aggressive approach to whistleblowing and retaliation actions by the plaintiffs bar and the U.S. Securities and Exchange Commission alike. Steven Pearlman and Edward Young of Proskauer Rose LLP examine the most impactful developments of 2017.
The Foreign Corrupt Practices Act case of U.S. v. Harris Corp. was tried in March 1991 — so long ago that pretty much only the parties and counsel remember it. With a smile, I’ve just about given up correcting people who say their case is "the only FCPA case ever to be tried,” says Robert Feldman of Quinn Emanuel Urquhart & Sullivan LLP.
In Dan Brown’s latest best-seller "Origin," he explores where we come from and how we will evolve. The U.S. Securities and Exchange Commission's fiscal 2017 enforcement report is no "Origin," "The Da Vinci Code" or even "Inferno," but the SEC has raised "Origin"-like questions, say Brian Rubin and Gregory Amoroso of Eversheds Sutherland.
At the U.S. Securities and Exchange Commission in April 1978, we filed a case against Page Airways and envisioned the trial of a precedent-setting enforcement action that would have defined Foreign Corrupt Practices Act standards at an early stage. Instead, the matter was settled under circumstances that I am sure are unique in SEC history, says Burton Wiand of Wiand Guerra King PA.
The recent derivative lawsuit against Twenty-First Century Fox and its $90 million settlement — likely among the 10 largest derivative settlements — show that the current, ongoing revelations of sexual misconduct represent more than just a risk for the bad actors, says Kevin LaCroix of RT ProExec.
The debate over who in the financial services industry should be required to act as a fiduciary has been getting more intense, but whether you are charged with managing someone else’s wealth as a trustee, an executor or a financial adviser, having the client’s needs come first is always paramount, says Stuart Riemer of Treasury Partners.
In a recent study, 20 out of 25 law firms surveyed have made billing process improvement a top priority for 2018. Firms can foster consistency and increase efficiency at all stages of their billing cycle by focusing on a few specific procedures, say Sharon Quaintance and Christine Indiano at HBR Consulting.
The Fifth Circuit is among the busiest federal circuit courts in the country. What can you do to increase your chances of reaching oral argument? And if given the opportunity, how can you present a persuasive argument? Former Fifth Circuit clerk Justin Woodard, an associate at Jones Walker LLP, shares some advice.