Asset Management

  • November 29, 2017

    FCA Targets Asset Manager Quartet In 1st Competition Case

    ​Britain’s Financial Conduct Authority on Wednesday brought its first case using its antitrust enforcement powers, accusing four asset management firms of breaking competition law by disclosing inside information ahead of share-dealing.

  • November 28, 2017

    Justices Push Back Against Wider Whistleblower Definition

    Several U.S. Supreme Court justices seemed inclined Tuesday to hew to a narrow definition of the term "whistleblower," an interpretation that could significantly limit the reach of anti-retaliation measures meant to protect whistleblowers under the Dodd-Frank Act.

  • November 28, 2017

    Justices Grapple With ‘Gibberish’ In State Securities Case

    The U.S. Supreme Court on Tuesday appeared to struggle with a question about whether Congress had intended to bar state courts from hearing certain types of securities class actions brought under federal law, leading two of the court’s conservative justices to bemoan the “gibberish” of the statutory language they were being asked to interpret.

  • November 28, 2017

    SEC Chair Says He Is Bracing For MiFID II Impact

    U.S. Securities and Exchange Commission Chairman Jay Clayton on Tuesday said dealing with the looming overhaul of European securities regulations — the new Markets in Financial Instruments Directive — has come to dominate his work lately, and that managing the stateside impact of the changes could prove more important than other items on his regulatory agenda for next year.

  • November 28, 2017

    Retirement Plans Seek Nod For $25M Merrill Overcharge Deal

    Retirement plans that have accused financial giant Merrill Lynch of overcharging them in violation of the Employee Retirement Income Security Act asked a Florida federal judge on Tuesday to grant final approval to a $25 million settlement, saying the haul is “extraordinary.”

  • November 28, 2017

    Del. Court Nixes Toss Of Suit Over Failed Oil Co. Venture

    Oil shale venture Red Leaf Resources lost a Delaware Chancery Court bid Tuesday for dismissal of a hedge fund investor’s challenge to a deal that broke off a more-than $200 million joint venture with French energy giant Total SA

  • November 28, 2017

    Feds Point To Email Trove In Ex-Katten Atty Fraud Trial

    Prosecutors in the trial of ex-Katten Muchin attorney Evan Greebel blanketed the jury Tuesday with email exchanges with his notorious former client Martin Shkreli discussing numerous settlement agreements that prosecutors say were wrongly used to pay off deceived investors in Shkreli’s hedge funds with assets of Retrophin Inc.

  • November 28, 2017

    Gaw Venture Pays $3B For Hong Kong Retail Portfolio

    Link REIT has reached a deal to sell 17 Hong Kong shopping centers to a venture led by private equity shop Gaw Capital Partners for a whopping HK$23 billion ($3 billion), according to an announcement from the real estate investment trust Tuesday.

  • November 28, 2017

    SEC Seeks $10.3M From Defunct Utah Investment Co.

    The U.S. Securities and Exchange Commission is seeking $10.3 million from a now-defunct company whose founder was accused by the agency of bilking investors out of money raised to purchase defaulted loans on property in Florida and Colorado, according to a filing Monday in Utah federal court.

  • November 28, 2017

    Stikeman Elliott, Fogler Rubinoff Steer $156M Retail Deal

    Stikeman Elliott LLP represented CT REIT in connection with its purchase of seven retail properties across Canada, each of which is partially leased to Canadian Tire, from Fogler Rubinoff LLP-counseled RioCan REIT for CA$200 million ($156.2 million), a deal the real estate investment trusts announced on Tuesday.

  • November 28, 2017

    Skadden Guides BlackRock Deal For $31B Citi Unit In Mexico

    BlackRock Inc. has inked an agreement to acquire the asset management division of Citigroup Inc.’s Mexican subsidiary, in a deal that adds to BlackRock’s portfolio a business with $31 billion worth of assets under management, according to a Tuesday statement.

  • November 27, 2017

    DOL Officially Delays Obama-Era Fiduciary Rule

    The U.S. Department of Labor on Monday extended the transition period and delay of the so-called fiduciary rule for retirement account advisers, announcing that its provision requiring fiduciaries to promise to work in investors’ best interests will not take effect until July 1, 2019.

  • November 27, 2017

    Justices To Weigh Curbing State Securities Class Actions

    The U.S. Supreme Court on Tuesday will consider whether federal law bars state courts from hearing certain securities class actions, but the business community’s hopes of restricting such access may hinge on convincing the most conservative justices to look past their preferred way of interpreting the law, lawyers said.

  • November 27, 2017

    Shkreli Mentor And Investor Says He Lied To Feds

    An investor and onetime mentor of Martin Shkreli on Monday told jurors in the trial of the controversial former pharmaceutical executive’s ex-attorney of how he lied to FBI agents when questioned about what prosecutors say was a sham consulting agreement with Shkreli-founded Retrophin Inc.

  • November 27, 2017

    SEC Looks To Keep $1.2M Athlete Investor Fraud Suit Alive

    The U.S. Securities and Exchange Commission has fired back at an investment adviser’s attempt to dodge a suit that alleges he defrauded an athlete out of $1.2 million, telling a California federal court that naming the victim of the fraud was not necessary at this stage.

  • November 27, 2017

    Ropes & Gray Hires Investment Funds Counsel From Harvard

    Ropes & Gray LLP’s Boston office has bolstered its private investment funds practice with the addition of a counsel who previously helped manage private funds at an investment management company owned by Harvard University.

  • November 27, 2017

    Citigroup 401(k) Plan Participants Get Cert. In ERISA Suit

    A New York federal judge on Monday certified a trimmed-down class of Citigroup Inc. 401(k) retirement plan participants in a long-running Employee Retirement Income Security Act suit alleging the plan’s managing committees favored Citigroup-affiliated funds over those of lower-priced competitors.

  • November 27, 2017

    UBS Whistleblower Claim Paused Ahead Of High Court Ruling

    A New Jersey federal judge cited an anticipated U.S. Supreme Court decision in holding off on ruling Monday on whether a former UBS Financial Services Inc. executive can pursue a Dodd-Frank Act claim against the company, but said the whistleblower action could at least proceed under a Florida statute.

  • November 27, 2017

    3rd Circ. Upholds Dismissal Of 'Top-Hat' Plan ERISA Suit

    The Third Circuit on Friday clarified that an employee’s negotiating power over pension benefits isn’t a factor in whether an employer’s plan for high-earning employees qualifies for an ERISA exemption, issuing a precedential decision on a topic that’s divided federal appeals courts mulling deferred compensation plan disputes.

  • November 27, 2017

    Adviser Pleads Not Guilty To $5M Investment Fraud Scheme

    An Illinois financial adviser accused of running a $5.2 million scheme to steal clients’ money and lie about investing it pled not guilty in federal court Monday to the single count of wire fraud he faces over the alleged six-year scam.

Expert Analysis

  • Proportionality, Not Perfection, Is What Matters

    John Rosenthal

    A few jurists and commentators have recently caused a stir in the e-discovery community by arguing that litigants should avoid using keyword searches to filter or cull a document population before using predictive coding. This “no-cull” rationale undermines the principle of proportionality at the heart of the recent changes to Federal Rule 26, say John Rosenthal and Jason Moore of Winston & Strawn LLP.

  • 2nd Circ. Significantly Weakens Cramdown Threat

    Michael Rosenthal

    By increasing the likelihood that a Chapter 11 debtor will be required to pay a market interest rate to cram down a plan on secured lenders, the Second Circuit's opinion in MPM Silicones clearly reduces a debtor's leverage in negotiations with secured creditors, say attorneys with Gibson Dunn & Crutcher LLP.

  • Make Way For The 'Unicorns'

    Lucy Endel Bassli

    By "unicorn" I don’t mean the next great tech startup with a valuation of $1 billion. I mean the new breed of lawyers realizing that there are better ways to get their day jobs done, says Lucy Endel Bassli, assistant general counsel leading the legal operations and contracting functions at Microsoft Corp.

  • Series

    Judging A Book: McConnell Reviews 'Unequal'

    Judge John McConnell

    As widespread claims of sexual misconduct continue to surface in the entertainment industry and beyond, a discussion of how judges treat workplace discrimination cases may be particularly timely. Here, U.S. District Judge John McConnell reviews the book "Unequal: How America’s Courts Undermine Discrimination Law," by professors Sandra Sperino and Suja Thomas.

  • Roundup

    Making Pro Bono Work

    Pro Bono Thumbnail

    In this series, attorneys explore the challenges and rewards of pro bono volunteering in the legal profession.

  • Being There: Preparing Witnesses For Depositions

    Alan Hoffman

    Preparing witnesses to be deposed is a critical element of discovery. It is important to remember that each witness is an individual with unique personal qualities, strengths and weaknesses. Getting to know the witness helps establish rapport and trust, says Alan Hoffman of Husch Blackwell LLP.

  • Series

    Making Pro Bono Work: The Sidley-Exelon Partnership

    Kelly Huggins

    Exelon Corp. and Sidley Austin LLP have been working together on both short- and long-term pro bono matters for the past 10 years. We offer a glimpse of how we got started and what we have done in the hope that other corporate legal departments and law firms might find ways to work together to meet the legal needs of the poor, say Kelly Huggins, pro bono counsel at Sidley Austin, and Margaret Balsley-Cross, assistant general counsel at Exelon.

  • Recipe For Legal Project Management: Look To BBQ Champs

    Anthony Rospert

    As a master certified barbecue judge with the Kansas City Barbeque Society, I have noticed that the top pitmasters follow a consistent process in approaching each and every competition. Their "secret sauce" — employing project management principles — can also help lawyers achieve success, says Anthony Rospert of Thompson Hine LLP.

  • Series

    Making Pro Bono Work: Can You Practice In Your State?

    Eve Runyon

    The justice gap is a well-documented problem and over the past two decades, law firms have mobilized attorneys to provide millions of hours of pro bono every year. But for many in-house counsel, there remains a big hurdle — restrictive multijurisdictional practice rules, says Eve Runyon, president and CEO of Pro Bono Institute.

  • Arcapita Bank Closes Escape Valve For Foreign Defendants

    Mark Salzberg

    A New York bankruptcy judge’s recent opinion in the Arcapita Bank Chapter 11 case is certain to have a dramatic impact in adversary proceedings involving foreign defendants. Unfortunately for those foreign defendants, it may now be much more difficult to escape from those proceedings, says Mark Salzberg of Squire Patton Boggs LLP.