Asset Management

  • March 13, 2017

    PE-Backed Issuers Prime Secondary Deals Totaling $208M

    Financial advisory firm Financial Engines closed a $182.2 million secondary offering Friday, the same day business and consumer telecommunications outfit Ooma unveiled a $25.3 million offer, as their venture capital and private equity owners pare down stakes in the companies.

  • March 13, 2017

    Northrop Execs' DQ Bid In ERISA Case Called 'Hail Mary'

    Lawyers for the Northrop Grumman Corp. employees suing executives for ERISA violations in California federal court on Friday skewered the opposing side’s bid to decertify the class or disqualify counsel in a related action as “a Hail Mary attempt to avoid trial.”

  • March 13, 2017

    Legal Tech Download: Dentons' RegTech, LawGeex Funders

    The world of legal technology is quickly evolving, with new products aimed at aiding lawyers coming to market in rapid succession. Here, Law360 takes a look at seven major recent developments in legal tech.

  • March 13, 2017

    Ex-Jefferies Trader Can't Ditch Sole Guilty Count, Feds Say

    Prosecutors pushed a Connecticut federal court on Friday to uphold the one-count securities fraud conviction of a former Jefferies trader, saying a portfolio manager’s misunderstanding of the trader's legal relationship with him doesn’t defeat the jury’s verdict.

  • March 13, 2017

    Schwab Says Securities Routing Suit Lacks Fraud, Injury

    Charles Schwab Corp. and its broker-dealer unit asked a California federal judge on Friday to dismiss a proposed class action over its practice of routing certain securities orders to UBS Securities LLC, saying the customers pressing the action paper over a lack of specific allegations with “inference, general industry commentary and anecdotes.”

  • March 13, 2017

    Biz Groups Seek Emergency Stay On DOL Fiduciary Rule

    Groups including the U.S. Chamber of Commerce have filed emergency motions in Texas federal court to block the Department of Labor’s fiduciary rule a month before it’s set to take effect, arguing that an injunction would prevent upheaval in the financial services industry and aid a Trump administration review.

  • March 10, 2017

    Big Banks Dodge Investors' Rate-Rigging Claims

    An investor suit accusing around 20 big banks and financial institutions of rigging interbank loan rates was tossed for lack of standing Friday by a New York federal judge who also trimmed claims and defendants in a related action.

  • March 10, 2017

    Corzine Takes A Few Hits In $2B PwC Malpractice Scrap

    Jon S. Corzine, the former CEO of the now-defunct MF Global, was at the receiving end of a couple of sharp jabs just before the bell on Friday as he testified in a New York federal court in a $2 billion malpractice suit against PricewaterhouseCoopers, admitting none of the reasons Moody’s downgraded MF Global’s rating was the auditors’ fault.

  • March 10, 2017

    Judge Denies Mid-Case Appeal In $1.5B GM Ch. 11 Dispute

    A Manhattan federal judge has denied a motion to take a $1.5 billion fight between GM and 500 of its pre-Chapter 11 lenders out of bankruptcy court on an interlocutory basis.

  • March 10, 2017

    Real Estate Rumors: Lightstone, Host Hotels, Benchmark

    Lightstone Group has reportedly scored $305 million in financing for a New York condo tower project, real estate investment trust Host Hotels is said to have dropped $214 million on a pair of Florida properties, and Benchmark Real Estate Group has reportedly sold a New York rental building for $31 million.

  • March 10, 2017

    SEC Judge Won’t Stay Tilton Case For Iffy High Court Battle

    A U.S. Securities and Exchange Commission administrative law judge declined Friday to put the agency’s case against private equity magnate Lynn Tilton on hold until litigation over the SEC’s in-house judges reaches the U.S. Supreme Court, calling the possibility of a high court opinion speculative.

  • March 10, 2017

    JPMorgan, Others See 6 Months Of Rate-Rigging Claims Cut

    A federal judge in New York knocked out six months' worth of claims Friday against JPMorgan Chase & Co., Deutsche Bank AG, Societe Generale SA and other big banks that a class of investors accused of rigging interbank loan rates.

  • March 10, 2017

    Banned Adviser Urges DC Circ. To Upend Past Ruling On ALJs

    An investment adviser challenging the constitutionality of the U.S. Securities and Exchange Commission’s in-house judges urged the D.C. Circuit on Friday to overturn a past circuit ruling on similar agency judges, after the appellate court agreed to rehear the SEC case.

  • March 10, 2017

    Paul Hastings Steers Barclays' $140M NYC Loan

    Paul Hastings LLP represented Barclays Bank PLC in connection with its $140 million loan to American Realty Capital New York City REIT Inc. for a property on William Street in Manhattan, according to records made public in New York on Thursday.

  • March 10, 2017

    Taxation With Representation: Davis, Weil, Cravath, Sidley

    In this week’s Taxation With Representation, Suez and a Canadian pension fund manager are taking over General Electric’s water and process technologies business, Brookfield Asset Management is buying up two clean energy yieldcos, and Squire Patton Boggs is leading Sterling Bancorp’s acquisition of its fellow bank holding company Astoria Financial.

  • March 10, 2017

    Ex-Vanguard Atty Says Dodd-Frank Ruling Backs Revival Bid

    A former in-house tax attorney for Vanguard Group Inc. trying to revive whistleblower claims against the investment manager referred the Third Circuit on Thursday to another circuit's recent decision that Dodd-Frank’s anti-retaliation protections are not limited to allegations made directly to the U.S. Securities and Exchange Commission.

  • March 10, 2017

    $30M Suit Threat Spurs Claim Against Italian Football Club

    A suburban Philadelphia venture capital firm asked a federal judge on Wednesday for a declaration clearing it from any obligation to provide funding to an Italian professional soccer club that allegedly threatened to file a $30 million lawsuit after being turned down for an investment.

  • March 10, 2017

    SEC Urges 2nd Circ. To Affirm $1M Insider Trading Fine

    The U.S. Securities and Exchange Commission has urged the Second Circuit to uphold a federal judge’s decision to increase a $2,000 civil judgment against an alleged insider trader to nearly $1 million for breaking a deal to cooperate with authorities, saying the judge acted appropriately.

  • March 10, 2017

    REIT Segro Buys Out Airport JV Partner Aviva For $444M

    United Kingdom real estate investment trust Segro PLC has paid its joint venture partner Aviva Investors £365 million ($444 million) to pick up the 50 percent stake of an airport property portfolio it hadn't already owned, according to an announcement from the firms on Friday.

  • March 9, 2017

    Corzine Stands By Bond Bet Prior To MF Global’s Collapse

    Jon S. Corzine, the former New Jersey governor and U.S. senator who presided over the demise of MF Global, told a New York federal jury hearing a $2 billion malpractice suit against PricewaterhouseCoopers Thursday that the investment firm never lost money on the $6.3 billion in European sovereign bonds long blamed for its collapse.

Expert Analysis

  • UK Financial Sector Shares Top Regulatory Concerns For 2017

    Sara Evans

    What do you expect your top regulatory challenge to be this year? Berwin Leighton Paisner LLP's recent survey of over 250 legal, risk and compliance professionals at U.K.-based banks, insurers and asset management firms highlighted three chief concerns for the sector.

  • Post-Spokeo Issues Emerge In The 5th Circ.

    Christopher Chorba

    Although the Fifth Circuit and its district courts have addressed Spokeo issues numerous times since the U.S. Supreme Court issued its decision, Spokeo’s future in the Fifth Circuit remains unclear. Recent opinions underscore that litigants should be prepared to argue not only about Spokeo’s significance for pre-existing case law, but also the scope of its applicability, say attorneys with Gibson Dunn & Crutcher LLP.

  • Law Firm Margin Improvement: The Long Game

    Jack Diggle

    For all the lessons learned since 2008, it's surprising that margin management remains so tactical, rather than an ongoing strategic endeavor, for law firms. The firms that will survive and thrive must invest in ongoing margin-improvement capability, which will combine enhanced business- and change-management skills and take a long-term view to drive out the more difficult changes, says Jack Diggle of Elevate Services Inc.

  • DOJ Criminal Division In 2016: Fraud Section Rising

    Kevin B. Muhlendorf

    A brief year-in-review document recently released by the U.S. Department of Justice provides a useful overview of what the Criminal Division’s largest litigating section accomplished in the last year and important hints at what the future holds for individuals and entities whose activities come within the Fraud Section’s broad reach, says Kevin Muhlendorf, a partner at Wiley Rein LLP and former federal prosecutor.

  • Inside The CFTC’s New Advisories On Cooperation

    David Meister

    The U.S. Commodity Futures Trading Commission’s recent advisories on cooperation indicate how enforcement priorities have changed over time. But for all the additional guidance that these new advisories give, one of the most important pieces of information to potential cooperators is still missing, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • 2017 Check-Up: Is Your Law Firm Positioned For Success?

    William G. Johnston

    Over the next few weeks, a slow trickle of news about one measure of law firm success — law firm financial results — will gradually become a flood as more firms open up about their performance in 2016. Law firm leaders would be wise to focus on nine factors that determine success, says law firm management consultant William Johnston.

  • The Missing Key To 3rd-Party Litigation Funding

    Tripp Haston

    Unlike other forms of commerce and unlike in other nations, litigation investment and funding in the U.S. is largely unregulated with few disclosure requirements. Where darkness exists, ignorance and mistrust breed. Disclosure and transparency in litigation investment and funding is the first and proper step to better understand this opaque dynamic in the U.S. civil justice system, says Tripp Haston of Bradley Arant Boult Cummings LLP.

  • Missing Pension Plan Participants: Gone But Not Forgotten

    Benjamin F. Spater

    There are many practical challenges associated with the timely payment of benefits to participants, especially when individuals are unresponsive and presumed missing. Last year, both the U.S. Department of Labor and the IRS showed an increased interest in this area and the Pension Benefit Guaranty Corporation recently proposed regulations expanding its missing participants program, say Benjamin Spater and Susan Quintanar of Trucker Huss APC.

  • The Short-Swing Profit Rule And Its Impact

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    In this short video, Eleazer Klein and Michael Swartz of Schulte Roth & Zabel LLP address how short-swing profit litigation is affecting hedge funds and talk about recent cases brought against fund managers.

  • FINRA Is Ready To Focus On 'Blocking And Tackling'


    The preliminary data for 2016 indicates that last year was a record-setting year for Financial Industry Regulatory Authority fines. To try to prevent 2017 from setting similar records, firms may want to adjust their defensive line, say attorneys with Eversheds Sutherland (US) LLP.