Asset Management

  • June 9, 2017

    Sidley Steers Deutsche Bank On $500M NYC Loan

    Sidley Austin LLP represented Deutsche Bank AG in connection with its $500 million loan to real estate investment trust Alexander's Inc., which is managed by Vornado Realty Trust, for office portions of a mixed-use tower in Manhattan, according to records made public in New York on Thursday.

  • June 9, 2017

    Bond Insurer Calls Puerto Rico Fiscal Plan Unconstitutional

    Ambac Assurance Corp. on Thursday accused the commonwealth of Puerto Rico and several of the territory's insolvent public corporations of violating the law Congress established to buoy the island’s sinking economy, saying special revenue funds are being unconstitutionally diverted from paying back bondholders.

  • June 9, 2017

    Taxation With Representation: Debevoise, King, Proskauer

    In this week’s Taxation With Representation, Clayton Dubilier & Rice acquired HD Supply's Waterworks for $2.5 billion, SemGroup finalized a $2.1 billion deal to buy one of the largest oil terminals in the country, and Weyerhaeuser Co. agreed to sell its timberlands and manufacturing operations in Uruguay for $402.5 million cash.

  • June 9, 2017

    Vedder Price Snags Insurance, ETF Pro From Reed Smith

    Financial services attorney W. Thomas Conner, who developed expertise in working with life insurers and spent time as general counsel for a retirement services industry trade group, has joined Vedder Price PC.

  • June 9, 2017

    CFTC Charges Wash. State Co. With $11M Fraud Scheme

    The U.S. Commodity Futures Trading Commission convinced a federal judge in Washington to freeze the assets of a couple along with the wife’s LLC after charging them with fraudulently soliciting customers and fleecing them of more than $11 million, the commission announced Thursday.

  • June 9, 2017

    Ohio Atty For Ponzi Couple Gets 14 Months For Fraud

    An Ohio lawyer was sentenced to 14 months in prison Friday for his role in facilitating a fraudulent land trust scheme on behalf of husband and wife William and Connie Apostelos, who themselves have admitted to a $70 million Ponzi scheme.

  • June 8, 2017

    Royalty Biz Seeks Toss Of Hedge Fund's Bid For Board Seats

    Biotech licensing firm Innoviva Inc. urged a Delaware vice chancellor Thursday to grant a summary judgment denying activist hedge fund Sarissa Capital’s demand for two new seats on Innoviva’s board, saying the fund blew a settlement chance and then tried to recover with an unsupportable lawsuit.

  • June 8, 2017

    CFTC Chair Unlikely To Get Requested $281.5M Budget

    U.S. Commodity Futures Trading Commission acting Chairman J. Christopher Giancarlo told lawmakers Thursday his agency is looking to streamline its operations and simplify regulations but needs more funds than President Donald Trump has requested, despite Republican warnings the CFTC is unlikely to see an increase.

  • June 8, 2017

    SEC Names Co-Heads Of Enforcement Division

    The U.S. Securities and Exchange Commission on Thursday announced that its Enforcement Division will be jointly run by the current acting division head and the current managing partner of Sullivan & Cromwell LLP’s criminal defense group.

  • June 8, 2017

    Penny Stock Trader Hit With $12M Judgment

    A New York federal judge on Thursday ordered an investor and his company to pay almost $12 million in disgorgement and interest plus nearly $900,000 in civil penalties for buying billions of shares of small companies and selling them off without complying with registration requirements.

  • June 8, 2017

    Puerto Rico Justices Must Hear Bond Issuer Row, Judge Told

    The dispute between COFINA bondholders and Puerto Rico's general obligation bondholders took a new turn Wednesday, as the former parties asked the federal judge overseeing the commonwealth's restructuring to let Puerto Rico's Supreme Court determine once and for all whether tax-backed bond issuer COFINA is even constitutional.

  • June 8, 2017

    Calamos Investor Seeks Stock Appraisal After Parent Buyout

    A shareholder of investment services firm Calamos Asset Management Inc. filed a petition Thursday in Delaware state court seeking appraisal of its stock in the company after the firm's parent conducted a take-private transaction.

  • June 8, 2017

    CMS Insider Trading Case Gets New Judge After Complaints

    Two hedge fund partners, a Centers for Medicare & Medicaid Services worker and a consultant accused of insider trading on the federal government's massive health programs got a new judge for their criminal case Thursday, after complaining that prosecutors used an improper tactic that amounted to judge shopping.

  • June 8, 2017

    SEC Denies Whistleblower Award, Defends Eligibility Cut-Off

    The U.S. Securities and Exchange Commission on Wednesday denied a whistleblower award for a claimant who had asked the agency to revisit its rule limiting award eligibility to information provided after the whistleblower program was established by the Dodd-Frank Act.

  • June 8, 2017

    'Phantom Pain' Device Maker Misled Investors, Suit Says

    A maker of devices that treat post-amputation "phantom pain" was hit with an investor suit Wednesday in New York federal court for allegedly making false and misleading statements to the investing public to cover up “egregious mismanagement” at the company.

  • June 8, 2017

    Pension Fund, Union Fight Hospital Laundry Co.'s Ch. 11 Sale

    The National Retirement Fund and a Service Employees International Union affiliate objected Wednesday to bankrupt medical laundry company Angelica Corp.'s proposed $125 million sale to a KKR & Co. LP affiliate, saying the court cannot let the debtor shed its $51 million in pension obligations.

  • June 8, 2017

    House Passes Bill Overhauling Dodd-Frank

    In a party-line vote the U.S. House of Representatives passed a bill Thursday that would repeal and replace many of the financial regulations put in place by the Dodd-Frank Act.

  • June 8, 2017

    Valeant Sells Aussie Pharma Biz To PE Shops For $930M

    Pacific Equity Partners and The Carlyle Group LP have agreed to pay $930 million to buy from Valeant Pharmaceuticals International Inc. a business that sells and distributes prescription and over-the-counter products in Australia, New Zealand, Southeast Asia and South Africa, the companies said Thursday.

  • June 8, 2017

    Wells Fargo Can't Apply Verdict To Nonjury ERISA Claims

    A Minnesota federal judge on Thursday let stand his March decision holding that Wells Fargo waived its right to apply a favorable jury verdict to pension-law damages claims that were not before jurors in a bifurcated proceeding alleging the $266 billion bank mismanaged its securities lending portfolio.

  • June 8, 2017

    Tilton Asks SEC To Stay Her Case Pending DC Circ. Ruling

    Private equity magnate Lynn Tilton has asked the U.S. Securities and Exchange Commission to stay its administrative proceeding against her until the D.C. Circuit has a chance to clear up the uncertainty surrounding the constitutionality of the agency’s hiring of judges for those proceedings.

Expert Analysis

  • The 9-Year Winning Streak Of Virginia ‘Rocket Docket’

    Bob Tata

    Out of 94 district courts, the Eastern District of Virginia has been the fastest civil trial docket in the country for nine straight years. Without micromanaging the process, the EDVA's judges, magistrate judges, and clerks and staff continue to perform at a stunningly efficient level, says Bob Tata of Hunton & Williams LLP.

  • Examining FINRA Plan To Liberalize Advertising Rules

    Matthew R. Silver

    A recent proposal by the Financial Industry Regulatory Authority to liberalize restrictions on certain types of performance projection materials may alleviate some of the conflict that has existed in performance advertising rules under the Investment Advisors Act and FINRA rules, says Matthew Silver of Drinker Biddle & Reath LLP.

  • Opinion

    Let's Talk About Half-Hearted Innovation

    Michael Moradzadeh

    Allowing attorneys to telecommute may seem like a great fix for law firms. But without significant changes to the firm's culture, telecommuting is just a patch applied to the problem of attrition, says Michael Moradzadeh, founding partner of Rimon PC.

  • Protecting Communications From PR Privilege Issues

    Donna Fisher

    Two recent opinions out of Pennsylvania and California state courts offer important lessons for avoiding claims of privilege waiver when using public relations consultants during litigation, say attorneys with Pepper Hamilton LLP.

  • Roundup

    Counsel To Counsel: Insights From Law Firm GCs

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    General counsel at four law firms share the biggest issues they face in an increasingly complex legal environment.

  • Monthly Column

    Gray Matters: The Attorney-Client Team

    Robert Creo

    A 1979 study of attorney-client interactions revealed startling information: Despite years of education and training to hone their legal expertise, attorneys were not acting as independent counselors but rather allowing their clients to control them. Our experience is that this trend has accelerated, say dispute resolution experts Robert Creo and Selina Shultz.

  • Justices Skeptical Of SEC Disgorgement Without Time Limits

    Dan McCaughey

    The decision by the U.S. Supreme Court in Kokesh v. Securities and Exchange Commission could meaningfully limit the uncertainty, expense and evidentiary disadvantages faced by parties responding to SEC investigations into conduct dating back more than five years, say attorneys with Ropes & Gray LLP.

  • Litigation Finance, Big Data And The Limits Of AI

    Christopher Bogart

    Theoretically, both better data and its better use should be able to improve results in litigation, and thus help litigation financiers allocate more capital to meritorious matters. However, while big data and artificial intelligence are intriguing additions to the litigation toolkit, they are far from turning litigation finance on its head, says Christopher Bogart, CEO of Burford Capital LLC.

  • Series

    Counsel To Counsel: Mama Said There'll Be Days Like This

    Peter J. Engstrom

    It's no longer enough for law firms simply to provide expert legal advice — we are expected to mirror clients' legal, ethics and social commitments and promises. For law firm GCs, the resulting job demands seem to grow exponentially, says Peter Engstrom, general counsel of Baker McKenzie.

  • Textualism Takes Center Stage In CalPERS V. ANZ Securities

    Joel Rothman

    Arguments before the U.S. Supreme Court this week in California Public Employee Retirement System v. ANZ Securities were notable for CalPERS’ focus on appealing to the court’s textualists. The case was argued on Justice Gorsuch’s first day on the bench by two of the court’s most well-credentialed advocates, say attorneys with Mintz Levin.