Asset Management

  • February 8, 2017

    High Court Case May Doom $17M Eminence Short-Swing Suit

    A Men's Wearhouse investor who says Eminence Capital LLC reaped an illegal $17 million insider profit in 2015 by selling its shares in the suit retailer invited a Manhattan federal judge Wednesday to sidestep U.S. Supreme Court guidance that could dispatch his case.

  • February 8, 2017

    DRA Advisors Pays Cabot $1.1B For Industrial Portfolio

    DRA Advisors LLC has picked up a nearly 20-million-square-foot industrial portfolio that includes properties in Texas and Illinois from private equity shop Cabot Properties Inc. for $1.07 billion, according to an announcement from the companies on Tuesday.

  • February 8, 2017

    Groups Sue To Block Trump’s 2-For-1 Regulatory Order

    Public interest legal groups on Wednesday sued the Trump administration, alleging a January executive order mandating that executive agencies eliminate two regulations for every new one is “irrational” and puts public safety at risk by not considering any beneficial effects of new rules.

  • February 8, 2017

    Starwood Deal Pushes 4 Firms To Top Jan. Real Estate M&A

    Four law firms each handled upward of $3 billion in real estate mergers and acquisitions value in January thanks to their work on the Starwood-Milestone REIT deal, easily beating out their competitors, all of whom came in below $1 billion in deal value.

  • February 7, 2017

    Starboard Settlement Adds Fresh Faces To Perrigo's Board

    Perrigo revealed Tuesday that it will swap out five of its directors for new members picked by Starboard as part of a settlement with the activist hedge fund, which has been pressuring the over-the-counter consumer goods and pharmaceutical company to turn around a steady decline in its stock price.

  • February 7, 2017

    SEC Bars Real Estate Investor Over His $20M Fee

    The U.S. Securities and Exchange Commission hit California real estate investment pro Scott M. Landress with a permanent securities industry bar and a $1.25 million penalty Tuesday for improperly withdrawing a fee of more than $20 million from two U.K.-focused private equity funds.

  • February 7, 2017

    Real Estate Rumors: Henderson, Adam Leitman Bailey, KPMG

    Henderson Land Development is said to be selling a Hong Kong hotel for roughly $296 million, law firm Adam Leitman Bailey has reportedly subleased 26,000 square feet in Manhattan, and KPMG is said to have leased nearly 20,000 additional square feet in New York from SL Green.

  • February 7, 2017

    Simpson Thacher Lands Ex-SEC Unit Chief

    A former Enforcement Division unit chief at the U.S. Securities and Exchange Commission returned to private practice, joining Simpson Thacher & Bartlett LLP as a partner after helping steer the agency through uncharted, post-financial-crisis territory.

  • February 7, 2017

    Investors Blast Snap's Plan To Offer Non-Voting Shares

    A group of institutional investors have asked Snap Inc. to reconsider its plan to sell only non-voting shares as part of its $3 billion initial public offering, saying the two-class system could harm the stock’s value and undermine public confidence in the market.

  • February 7, 2017

    Sens. Ask CFTC To Account For IT, Whistleblower Lapses

    Members of the Senate Judiciary Committee and Agriculture, Nutrition and Forestry Committee sought assurances Monday from the U.S. Commodity Futures Trading Commission that it is dealing with information technology security and protecting whistleblowers, after a report revealed systemic weaknesses and retaliation.

  • February 7, 2017

    1st Circ. Affirms Conviction In Fake Hedge Fund Scam

    The First Circuit on Monday rejected the appeal of a Massachusetts investment adviser sentenced to seven years in prison for a $1.3 million fake hedge fund scheme, saying that the court’s jury instructions and sentencing were both sound.

  • February 7, 2017

    Convicted Ex-JPMorgan Trader Seeks 4 Years' Probation

    A former JPMorgan Chase & Co. investment banker convicted for leaking information about health care company mergers to his father urged a Manhattan federal judge on Monday to sentence him to four years’ probation, citing parental duties in regard to his son.

  • February 6, 2017

    Late Changes To Fiduciary Rule Memo Sow Confusion

    President Donald Trump’s long-awaited directive on the U.S. Department of Labor’s fiduciary rule surprised the financial industry Friday when it failed to include an expected provision calling for a delay, leaving retirement account advisers still struggling to determine when, if ever, they will need to comply with the controversial mandate.

  • February 6, 2017

    Ex-Financial Adviser To Pro Athletes Cops To Stealing $1M

    The former president of an investment firm tailored to athletes pled guilty in D.C. federal court Monday to wire fraud after admitting to stealing more than $1 million from his clients, including boxer Mike Tyson and former professional basketball player Glen Rice, according to a U.S. Department of Justice press release.

  • February 6, 2017

    2 Sentenced For $250M Offshore Pump-And-Dump, Tax Dodge

    A Brooklyn federal judge hit a man who set up companies that facilitated a $250 million offshore stock fraud, capital gains tax-dodging and money laundering operation with six years in prison on Monday, hours after sentencing one of the ripoff artists to a 12-year term.

  • February 6, 2017

    Investment Co. Sued Over Alleged 'Hamilton' Ponzi Scheme

    An investor who funneled cash into the alleged $81 million Ponzi scheme that promised strong profits from reselling tickets to the smash Broadway musical “Hamilton” accused a broker-dealer in New York federal court on Monday of misleading him into thinking the investment was a “no-brainer.”

  • February 6, 2017

    Jefferies Sues To Halt FINRA Arbitration Over Stock Drop

    The Jefferies Group investment bank is arguing that shareholders who bought stock in a since-failed biotech company because of the firm’s recommendation cannot force it into arbitration before the Financial Industry Regulatory Authority over the stock's loss of value, according to a suit filed Friday in Texas federal court.

  • February 6, 2017

    Cohen Milstein Brings Aboard Ex-NJ Securities Chief

    Cohen Milstein Sellers & Toll PLLC has nabbed New Jersey’s former securities regulation chief as a partner in its securities litigation and investor protection group, the Washington, D.C.-based plaintiffs-side firm said Monday.

  • February 6, 2017

    Ex-Execs Fight Discovery Freeze In $1B Platinum Fraud Suit

    The ex-CEO of defunct offshore driller Black Elk and former Platinum Partners executives facing parallel civil and criminal cases over their alleged roles in a $1 billion securities fraud scheme told a New York federal court on Friday to reject the government’s proposed “blanket and indefinite” discovery freeze in the civil case.

  • February 6, 2017

    Piwowar Orders SEC To Reconsider Pay Ratio Rules

    Acting U.S. Securities and Exchange Commission Chair Michael S. Piwowar directed the agency’s staff to reconsider implementing a rule requiring public companies to disclose the pay gap between their chief executive and their typical worker and sought input on difficulties companies are experiencing in implementing the rule.

Expert Analysis

  • 7 Legal Industry Predictions For 2017

    Haley Altman

    Since 2008, the legal relationship dynamic has consistently evolved, leading clients to demand more "value" for services received. In 2017, investment in and adoption of new technology and prioritizing cybersecurity will lead to an increase in billable hours and shifts in realization rates, says Haley Altman of Doxly.

  • 6 Key Commercial Litigation Finance Trends For 2017

    Ralph J. Sutton

    With commercial litigation funding gaining acceptance throughout the U.S., law firms and corporations are investigating how they can benefit from the capital that funders provide, and which criteria they should use in selecting a funder. Ralph Sutton, chief investment officer of Bentham IMF, discusses several major trends to watch in 2017.

  • 5 Ways To Fight Costlier Legal Malpractice Claims In 2017

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    There are a number of concrete, practical steps that law firms can take to address the high cost of defending legal malpractice claims, both before and after a claim is made, says Richard Simpson, a partner with Wiley Rein LLP who serves on the ABA Standing Committee on Lawyers’ Professional Liability.

  • Mediating E-Discovery Disputes Can Save Time And Money

    Daniel Garrie

    A primary driver of increasing litigation costs is the explosion of electronic discovery in recent years. Electronic data is not only increasing dramatically in volume, it is also growing in complexity. One way parties can save time and money is to use a neutral, technically skilled mediator, to ensure that e-discovery is both robust and cost-effective, says Daniel Garrie of JAMS.

  • Some Considerations As Fed Provides Volcker Rule Relief

    David F. Freeman Jr.

    The Federal Reserve Board recently released guidance clarifying how banking entities may request additional time to divest or conform their investments in certain illiquid funds to the Volcker Rule. However, the timing of the guidance presents specific challenges and considerations, say attorneys with Arnold & Porter LLP.

  • Avoid Inadvertent Tipping This Holiday Season

    Dixie L. Johnson

    The U.S. Supreme Court's Salman decision and a few other 2016 cases provide us an opportunity to remind well-meaning directors, executives, lawyers, consultants and others privy to confidential business developments of just how important it is to talk about something else during the holidays, say attorneys with King & Spalding LLP.

  • Building Momentum For The Pay Equity Movement In BigLaw

    Stephanie A. Scharf

    A decade’s worth of multiple bar association initiatives, conferences, corporate law summits, detailed research reports and opinion pieces on the pay gap has seemingly fallen on the deaf ears of BigLaw. However, recent events presage substantial movement toward pay equity in law firms, say Stephanie Scharf of Scharf Banks Marmor LLC, Michele Coleman Mayes, general counsel for the New York Public Library, and Wendi Lazar of Outten & Golden LLP.

  • SEC Actions Against Investment Advisers In 2016: Part 3

    Jon Eisenberg

    In the final installment of this three-part series discussing the U.S. Securities and Exchange Commission’s enforcement actions against investment advisers in 2016, Jon Eisenberg of K&L Gates LLP reviews actions involving custody violations, safeguarding client information, business continuity, the Foreign Corrupt Practices Act, and firm procedures and individual supervision.

  • Keeping Pro Se Litigants At Bay

    Michael Walden

    Pro se litigation can be a time-consuming cost of doing business, particularly for large, well-known companies. Though pro se cases occasionally include interesting, even amusing, claims, like all litigation, they must be taken seriously. In this article, attorneys from Shook Hardy & Bacon LLP detail several practical approaches to dealing with the problems posed by pro se litigants.

  • SEC Disgorgement Issue Ripe For High Court Review

    Nicolas Morgan

    The U.S. Securities and Exchange Commission recently joined in on a request that the U.S. Supreme Court review a long-simmering issue: Does the Section 2462 five-year statute of limitations apply to SEC disgorgement claims? The lack of clarity poses a substantial risk for litigants on both sides of an SEC enforcement action, say attorneys with Paul Hastings LLP.