Asset Management

  • May 8, 2017

    Real Estate Rumors: Mastercard, CBRE, Banco de Brasil

    Mastercard is said to be in talks to take 200,000 square feet in Manhattan, CBRE Global Investors is selling a Chicago tower and could fetch $400 million for the building, and Banco de Brasil is said to be leasing 17,000 square feet in Miami.

  • May 8, 2017

    3 Firms Steer CareTrust REIT's $300M Notes Offering

    Three law firms are working on CareTrust REIT Inc.'s deal to sell $300 million in senior unsecured notes, a matter the California real estate investment trust announced in a regulatory filing on Monday.

  • May 8, 2017

    Wells Fargo Asks For Reconsideration In Securities Suit

    Wells Fargo on Friday asked a Minnesota federal judge to reconsider his March ruling that the bank, by its silence on the matter, waived its right to use a favorable jury verdict to preclude related claims over alleged mismanagement of a securities lending portfolio.

  • May 8, 2017

    Stanford Receiver's $5M Clawback Suit Fails At 5th Circ.

    The Fifth Circuit on Friday upheld a gold wholesaler’s victory against a $5 million clawback claim from the receiver for the R. Allen Stanford Ponzi scheme, saying a jury reasonably found that there was no fraudulent intent behind payments the wholesaler received from a Stanford-linked coin and bullion company.

  • May 8, 2017

    O'Melveny, Fried Frank, Sidley Steer $7.4B REIT Tie-Up

    O'Melveny & Myers LLP and Fried Frank Harris Shriver & Jacobson LLP represented California-based Sabra Healthcare REIT Inc. on its $7.4 billion merger with Sidley Austin LLP-counseled Care Capital Properties Inc., a matter that Sabra and Chicago-based CCP announced on Sunday.

  • May 5, 2017

    9th Circ. Sets New Falsity Standard, Citing Omnicare

    The Ninth Circuit affirmed on Friday a district judge’s decision to toss a pension fund’s putative securities class action alleging dental products maker Align Technology Inc. misled investors about a $187.6 million acquisition, finding that the pleadings related to the alleged misstatements don’t meet the high falsity standard set by the U.S. Supreme Court’s 2015 Omnicare decision.

  • May 5, 2017

    Molycorp Investor Asks Chancery To Stop Mineral Rights Deal

    The investment firm that owns the majority of spinoffs from bankrupt mining company Molycorp took the majority owners of one spinoff to Delaware Chancery Court on Thursday to block the sale of the mineral rights to the only major rare earth mine in the U.S.

  • May 5, 2017

    Retrophin Slams Shkreli's Move For Katten Muchin Docs

    Retrophin Inc. urged a New York federal judge not to grant former CEO Martin Shkreli’s bid to force it to produce nearly 2,000 documents held by its former firm, Katten Muchin Rosenman LLP, which it claims are privileged, arguing that the files are neither relevant to Shkreli’s defense in the government’s criminal investigation nor admissible.

  • May 5, 2017

    Claimed Tipster Can’t Earn On Tips To Other Agencies: SEC

    The U.S. Securities and Exchange Commission denied a whistleblower claim Thursday after finding that information the would-be tipster gave to other federal agencies was not passed to the SEC and likely would be ineligible for an award even if it had been shared.

  • May 5, 2017

    Real Estate Rumors: Workville, Gemini, Miami Penthouse

    Co-working firm Workville is reportedly close to signing for 14,000 more square feet in New York; Gemini Real Estate Asset Management is said to have sold, through bankruptcy court, a New York site that could be developed as a hotel; and a Miami Beach penthouse has reportedly sold for $31.26 million.

  • May 5, 2017

    Nomura Trader Loses Last-Minute Bid For Separate Trial

    A Connecticut federal judge on Thursday denied a bid by a former Nomura securities trader for his own trial instead of a joint trial alongside co-defendants, giving prosecutors a victory as a jury was getting selected.

  • May 5, 2017

    Ascott To Invest $50M In Manhattan Hotel

    Ascott Ltd., a Singapore-based owner and operator of serviced residences and a subsidiary of real estate company CapitaLand Ltd., said Friday that it will invest $50 million on the acquisition and renovation of a hotel in Midtown Manhattan.

  • May 5, 2017

    DC Circ. Told To Embrace 10th Circ. Ruling On SEC Judges

    An investment adviser urged the D.C. Circuit on Thursday to follow the Tenth Circuit’s lead in finding that the U.S. Securities and Exchange Commission’s in-house judges are unconstitutional, pointing to the Tenth Circuit’s recent refusal to rehear the issue.

  • May 4, 2017

    Receiver Drops Sanctions Against Atty In $28M Ponzi Case

    The receiver for an investment vehicle at the center of an alleged $28 million real estate Ponzi scheme in Utah on Thursday withdrew a call for sanctions filed in Utah federal court against the former lawyer of the man accused of running the scam.

  • May 4, 2017

    UBS Says Stock Co. Misled Court In Push For Arbitration

    UBS Financial Services asked a Florida federal judge Wednesday to reassess its bid for a quick win on claims that a Hong Kong stock holding company had no grounds to force UBS into arbitration, saying the stock company misled the court regarding evidence of a business relationship between the parties.

  • May 4, 2017

    FINRA Fines Ex-AIG Units Over Net Capital Accounting

    The Financial Industry Regulatory Authority on Wednesday approved a settlement with four former units of AIG, now indirectly owned by Lightyear Capital LLC, ending allegations their inaccurate accounting for investment advisory fees resulted in net capital deficiencies.

  • May 4, 2017

    SEC Says Fraud Corp. Can’t Hide Behind Owner’s Rights

    The U.S. Securities and Exchange Commission asked an Illinois federal judge on Wednesday to hold an investment company in contempt and make it turn over accounting records it was twice ordered to provide, saying the firm is not covered by its owner’s Fifth Amendment right against self-incrimination.

  • May 4, 2017

    Another Platinum Partners Exec Calls For Jury Leak Probe

    A former Platinum Partners managing director on Wednesday pushed for a New York federal court hearing to determine whether an FBI agent was behind purported grand jury leaks about an investigation into the hedge fund, echoing arguments from the company's founder and ex-coworkers accused of partaking in a $1 billion securities fraud scheme.

  • May 4, 2017

    CIBC Adds Cash To $4.9B PrivateBancorp Deal In Final Offer

    Canada's CIBC, ahead of a scheduled May 12 shareholder vote on its proposed purchase of PrivateBancorp Inc., will up the cash consideration for the regional bank, valuing it at $4.9 billion as part of a Thursday bid to push the deal through.

  • May 4, 2017

    RBS Beats Direct 2nd Circ. Appeal In Madoff Clawback Case

    The Royal Bank of Scotland on Thursday dodged facing a direct Second Circuit appeal in a $22 million Bernie Madoff Ponzi scheme clawback case, as a New York bankruptcy judge ruled that the international comity issues at hand do not necessitate a direct appeal.

Expert Analysis

  • Not From Around Here? Trying A Case As An Out-Of-Towner

    William Oxley

    The importance of authenticity is magnified when trying a case outside your home jurisdiction. While using references to local landmarks or history can help make arguments relatable, adopting local expressions or style in an attempt to ingratiate oneself with the judge and jury almost always backfires, say William Oxley and Meghan Rohling Kelly of Dechert LLP.

  • A Narrow Exception To NY's Foreclosure Limitations Period

    Christopher A. Gorman

    A New York state appeals court's recent decision in Wells Fargo Bank v. Eitani is good news for those in the business of acquiring distressed mortgage loans because it carves out an exception to the statute of limitations on a mortgage foreclosure action. However, Eitani is very limited in its scope, says Christopher Gorman of Abrams Fensterman Fensterman Eisman Formato Ferrara & Wolf LLP.

  • Making Sense Of Potential DOL Fiduciary Rule Challenges

    David G. Tittsworth

    Much has been written about the U.S. Department of Labor’s conflict-of-interest rule and it has been the subject of intense debate. Some important milestones are only hours or days away and the likelihood of significant changes to the rule is approaching rapidly, says David Tittsworth of Ropes & Gray LLP.

  • Plaintiffs Face Uphill Battle In Excessive-Fee Litigation

    Eben P. Colby

    The past year has seen the momentum turn in favor of mutual fund advisers in the current wave of “excessive-fee litigation.” The New Jersey district court's recent opinion in Kasilag v. Hartford is insightful both for what it found with respect to Hartford and for its potential application to the more than 20 other pending cases, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • What Should Puerto Rico Offer Its Creditors?

    Richard J. Cooper

    Attorneys with Cleary Gottlieb Steen & Hamilton LLP offer four recommendations to keep in mind when designing the type of instrument that creditors will receive in a restructuring of Puerto Rico’s debt.

  • Considerations For Exhibit Hyperlinks In SEC Filings

    Laura D. Richman

    Companies should begin to prepare for the mechanics of the new hyperlink requirements for U.S. Securities and Exchange Commission filings and to design disclosure controls and procedures so that they will be ready to comply on a timely basis. Some companies may even choose to comply early in order to get corporate governance “credit,” say Laura Richman and Michael Hermsen of Mayer Brown LLP.

  • 9th Circ. Widens Split Over Dodd-Frank Whistleblowers

    Steven J. Pearlman

    In Somers v. Digital Realty Trust, the Ninth Circuit recently ruled that the anti-retaliation provision in Dodd-Frank protects whistleblowers who make internal complaints but do not complain to the U.S. Securities and Exchange Commission. The decision deepens the current circuit split on the issue and there is now a realistic possibility this case could ascend to the U.S. Supreme Court, say Steven Pearlman and Edward Young of Proskauer Rose LLP.

  • How The Most Profitable Law Firms Structure Their C-Suites

    Anita Turner

    The most successful Am Law 200 law firms have evolved from being partner-run to being run by a group of highly skilled professionals reporting to firm shareholders. The data collected from our recent survey indicates this model is generally conducive to increased profitability, says Anita Turner, senior director at Colliers International.

  • Don't Bet On Unsupported Worldwide Order To Secure Assets

    Lincoln Caylor

    The approach by the English Court of Appeal in Saleh v. U.K. Serious Fraud Office is welcome from an asset-recovery perspective. Parties seeking to freeze or seize assets in a foreign jurisdiction should not be hamstrung by a blindly made order rendered without evidence or argument, says Lincoln Caylor of Bennett Jones LLP.

  • Settlement Strategy: What Does The Client Really Want?

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    The best outside counsel think like the client. That includes understanding the client’s perspectives and goals with regard to reaching a settlement — because “good results” mean different things for different clients. Outside counsel must ask themselves the right questions, and know the answers, to shape a client-focused settlement strategy, say Kate Jackson of Cummins Inc. and Patrick Reilly of Faegre Baker Daniels LLP.