Asset Management

  • March 6, 2018

    Moldovan Investors Want Info From NY Firm In $500M Award

    Two Moldovan oil and gas investors looking to enforce a more than $500 million arbitral award against Kazakhstan have asked a New York federal court to help them get their hands on financial records maintained by a major New York City sovereign investment firm, saying the company manages some of Kazakhstan's assets here. 

  • March 6, 2018

    Feds Seek 15-Year Term For Martin Shkreli

    Federal prosecutors on Tuesday asked a New York federal judge to sentence Martin Shkreli to 15 years in prison for defrauding his hedge fund investors and for market manipulation, calling the controversial former pharmaceutical executive a remorseless liar driven by pure greed.

  • March 6, 2018

    DLA Piper Lands Jackson Walker Investment Funds Team

    A team of six former Jackson Walker LLP partners who advise institutional investors in investments and secondary transactions has joined DLA Piper’s corporate practice in Austin, the firm said Monday, marking its latest expansion in the Lone Star State.

  • March 6, 2018

    Wilmington Execs Can't Block Loan Rule Citings In Fraud Trial

    A Delaware federal judge on Tuesday rejected an attempt by four former Wilmington Trust Corp. executives to block federal prosecutor references to a key circumstance for reporting past due loans, days ahead of opening arguments in their fraud, conspiracy and securities violation trial.

  • March 5, 2018

    Ex-JPMorgan Worker’s $1.1M Retaliation Trial Win Tossed

    A New York federal judge Monday rejected a jury’s award of $1.1 million to a former JPMorgan Chase & Co. wealth manager who accused the bank of unlawful retaliation, ordering a retrial because the manager hadn’t tried hard enough to find a new job and the jury’s verdict was “infected by passion and prejudice.”

  • March 5, 2018

    Trust Beneficiaries Seek First OK For $35M BNY Mellon Deal

    Trust beneficiaries who have accused the Bank of New York Mellon of irresponsibly investing trust assets and charging unauthorized tax preparation fees told a Massachusetts federal judge on Sunday that they’ve agreed to end their proposed class action in exchange for certain disclosures and fee concessions valued at more than $35 million.

  • March 5, 2018

    Kokesh Must Disgorge $5M To SEC, 10th Circ. Rules

    A panel of the Tenth Circuit on Monday lowered the amount that investment adviser Charles Kokesh must disgorge from $35 million to $5 million, validating his resounding victory before the U.S. Supreme Court but using revised figures from the U.S. Securities and Exchange Commission.

  • March 5, 2018

    Client Accuses Advisers Of Steering Co. To 401(k) Scammers

    An Illinois-based investment adviser was hit with a lawsuit in Cook County Court last week by a client claiming the adviser steered the company to a benefits administrator that stole nearly half a million dollars from the company's 401(k) program before the administrator was raided and shut down by the FBI last year.

  • March 5, 2018

    Winston Strawn Adds 7 Partners From Jenner & Block

    Winston & Strawn LLP on Monday announced that it is adding seven former Jenner & Block LLP partners, including the former chairman of the firm’s private equity practice, to the corporate and tax practice in its Chicago office.

  • March 5, 2018

    Fund Blasts Trustee's Deal With Insurer In $70M Ponzi Case

    An investment fund representing directors of an alleged $70 million Ponzi scheme run by a ticket brokerage's former CEO asked a New York bankruptcy court Friday to stop the company's trustee from settling with its directors and officers' insurer, saying any proceeds from the insurance policy belong to the directors, not the estate.

  • March 5, 2018

    S&P, Wells Fargo Look To Exit Life Settlements Suit

    S&P Global Inc. and Wells Fargo Bank NA on Friday asked a New York federal judge to toss a putative class action alleging that the ratings agency passed off investments in life insurance policies as safe even though the investments were based on fraudulent life-expectancy projections.

  • March 5, 2018

    Shkreli Must Give Up $7.3M, Wu-Tang Clan Album

    Former biotech CEO Martin Shkreli must forfeit more than $7.3 million stemming from his conviction for securities fraud and conspiracy, a New York federal judge said Monday, rejecting arguments from the “pharma bro” that not all the money was tied to an illicit scheme.

  • March 5, 2018

    3 Firms Steer HNA's Planned $824M Park Hotels Share Sale

    An affiliate of HNA Tourism Group Co. Ltd. is selling 32.95 million shares of real estate investment trust Park Hotels and Resorts Inc.'s common stock, an underwritten offering disclosed Monday that could raise $824 million and a deal on which Hogan Lovells, White & Case LLP and Clifford Chance LLP are working.

  • March 5, 2018

    Cravath, Debevoise Guide AXA's $15.3B Deal For XL Group

    AXA Group on Monday said it will take over Bermuda-based XL Group Ltd. in a $15.3 billion deal guided by Cravath Swaine & Moore LLP and Debevoise & Plimpton LLP that will turn the asset management and insurance firm into the largest commercial property and casualty insurer in the world.

  • March 2, 2018

    Feds Say Platinum Indictment Evidence On The Up-And-Up

    Federal prosecutors insisted Thursday they did not fudge evidence to secure the indictment of a group of leaders of hedge fund Platinum Partners for investor fraud during a liquidity crisis, telling a New York federal judge the dispute is one of evidence interpretation and not morals.

  • March 2, 2018

    Fraud Suit Over Unilateral Trading Can Proceed, Judge Says

    An Illinois federal judge on Thursday advanced a securities fraud suit from some of an investment club’s partners over allegedly unlawful unilateral trades that wiped out their funds, rejecting the founder’s argument that the club wasn’t formed with an investment contract constituting a security.

  • March 2, 2018

    Cayman-Based Hedge Funds Under Investigation Seek Ch. 15

    Liquidators for a group of Cayman Islands-based hedge funds currently under investigation for defrauding investors have asked a New York bankruptcy court to grant them Chapter 15 recognition, so they can cover their bases while they pursue a wind-down in the funds’ home jurisdiction.

  • March 2, 2018

    Insurer Must Cover Kickback Scheme Suit, 9th Circ. Affirms

    The Ninth Circuit on Friday upheld a lower court's finding that Hanover Insurance Co. must defend a real estate brokerage firm in a proposed class action over an alleged kickback scheme, finding that the insurer didn't show that all of the claims in the underlying action fall under a policy exclusion for deceptive business practices.

  • March 2, 2018

    Fee Examiner Says Too Many Attys At Puerto Rico Hearings

    The firms representing Puerto Rico’s public debtors and creditor committees in the territory’s restructuring cases are sending too many professionals to court hearings and mediation sessions and are seeking excessive coverage for travel expenses, according to a fee examiner report filed Thursday.

  • March 2, 2018

    Film Financier Found Guilty On Investor Fraud Charges

    Film producer David Bergstein was convicted Thursday of defrauding investors out of more than $26 million after a monthlong trial on charges that he used investor money to pay personal expenses and cover losses from a separate scam.

Expert Analysis

  • Litigation Finance Trends To Watch In 2018

    Jay Greenberg

    Jay Greenberg and Max Volsky, co-founders of litigation finance platform LexShares Inc., analyze emerging trends based on conversations with their investors and executives in this rapidly evolving sector.

  • The Enneagram And The Practice Of Law

    Jennifer Gibbs

    Study of the Enneagram personality typing system can provide attorneys with better insights into themselves, and into those they interact with professionally, including clients, opposing counsel and judges, says Jennifer Gibbs of Zelle LLP.

  • Series

    Judging A Book: Tymkovich Reviews 'Gorsuch'

    Timothy Tymkovich

    John Greenya’s new book, “Gorsuch: The Judge Who Speaks for Himself,” offers readers something the confirmation hearings did not — the backstory of Neil Gorsuch and a glimpse of who Justice Gorsuch is, says Chief Judge Timothy Tymkovich of the Tenth Circuit.

  • NJ Case Bolsters The Limitations Defense Against SEC


    A New Jersey federal court's recent decision in U.S. Securities and Exchange Commission v. Gentile has opened the door to the possibility that Section 2462's five-year statute of limitations serves as a complete defense to an SEC enforcement action, say Joseph Dever and Matthew Elkin of Cozen O’Connor.

  • What Asset Managers Can Expect From The SEC In 2018

    David Tittsworth

    For the first time since 2015, the SEC will be operating with a full slate of five commissioners, which will bring a wider variety of views and perspectives to the agency. Chairman Jay Clayton has also moved with deliberate speed to appoint a cast of competent and talented senior staff, says David Tittsworth of Ropes & Gray LLP.

  • 5 Things To Watch For In FCPA Enforcement This Year

    David Simon

    After much hand-wringing in 2017 about whether Foreign Corrupt Practices Act enforcement would diminish radically under President Donald Trump, it’s now safe to say that all signs point toward continued and vigorous enforcement, say attorneys with Foley & Lardner LLP.

  • Roundup

    5 Most-Read Legal Industry Articles Of 2017

    2017 Trends

    What business of law topics piqued reader interest in 2017? Take a look back at the year's five most-read legal industry articles from Law360 guest authors.

  • Spoliation Scrutiny: Disparate Standards For Distinct Mediums

    Robin Shah

    Two years ago, Federal Rule of Civil Procedure 37(e) was amended to provide a clearer road map for courts analyzing whether to permit sanctions for the spoliation of evidence. Yet there is still no specific guidance for when a sanctions request relates to electronically stored and nonelectronically stored information, says Skadden associate Robin Shah.

  • SEC's F-Squared Trial Win Offers A Cautionary Tale

    Ian Roffman

    After more than three years of litigation and a four-week trial, a federal court in Boston is expected to enter final judgment for the U.S. Securities and Exchange Commission in its high-profile case against F-Squared founder Howard Present. As the dust begins to settle, there are some lessons to be learned from the saga, says Ian Roffman of Nutter McClennen and Fish LLP.

  • Hearing The Need For More Women’s Voices In The Courtroom

    Carrie Cohen

    For many female attorneys, the results revealed in the New York State Bar Association’s recently adopted report on female litigators in the courtroom were not encouraging but not terribly surprising. Each stakeholder in the litigation process — judges, law firms and corporate clients — should contribute toward increasing female voices in the courtroom, says Carrie Cohen of Morrison & Foerster LLP.