The Thompson Seattle Hotel and Sequel Apartments has completed an $80 million refinancing of the new property comprising 158 hotel rooms and 93 residential units in downtown Seattle, commercial real estate broker Holliday Fenoglio Fowler LP said Friday.
Federal prosecutors have charged a Boston-based hedge fund manager with a multimillion-dollar fraud after he admitted to investigators that he had started to use the funds to pay off investors, buy cars and pay his son's mortgage.
Payroll processing and human resources management provider ADP LLC said Friday that activist investor William Ackman has purchased an 8 percent stake in the company through his hedge fund and is pushing to shake up the board of directors and remove its CEO.
A broker-dealer accused in a $17.2 million pump-and-dump scheme told a federal judge Thursday that the U.S. Securities and Exchange Commission’s switch from seeking monetary penalties to trying to bar him from the industry is an attempt to dodge case law rendering the claims time-barred.
The U.S. Commodity Futures Trading Commission told a New York federal judge Friday that a Chinese national who admitted making false entries into a computerized record of commodities futures orders should be barred from commodities trading for life because the trader's instinct when faced with losses was to cover them up.
The federally appointed board tasked with right-sizing Puerto Rico's flagging economy said Friday it planned to implement public employee furloughs to meet an $880 million savings benchmark for the 2018 fiscal year, in what amounts to a direct affront to the territory's governing leadership.
A Brooklyn federal jury on Friday convicted controversial former pharmaceutical executive Martin Shkreli on charges of defrauding investors in his ailing hedge funds and conspiring to drain drugmaker Retrophin's assets to pay off his debts.
Retail-focused OneREIT said Friday it has agreed to separate deals with fellow Canadian real estate investment trust SmartREIT and real estate investment manager Strathallen Capital Corp. that will see OneREIT sell all its assets and go private for a consideration worth CA$1.1 billion (US$869.8 million) including debt.
Morningstar Inc. and two retirement-focused subsidiaries of Prudential Financial Inc. were hit with a proposed class action in Illinois federal court Thursday, with investors accusing the companies of colluding to design a robo-adviser program to steer them toward investments that paid Prudential high fees.
Investors suing Cobalt International Energy Inc. in connection with investor losses stemming from Cobalt’s alleged bribery of Angola officials asked a Texas federal judge on Thursday to deny the company’s request to reconsider class certification, arguing the precedent cited by the company doesn’t actually support its argument.
A series of hedge funds owned by Oz Management LP on Thursday accused Teva Pharmaceutical Industries Ltd. in Connecticut federal court of lying to investors about its alleged rigging of generic drugs prices, causing stocks to drop when government agencies started investigating the drugmaker.
The federally appointed board overseeing Puerto Rico's historic debt restructuring said Thursday that it opposed a bid from a group of creditors for a probe into the territory's debt, saying that it was the party best able to investigate the debt and its "relationship to the fiscal crisis."
A consortium of investors has offered to buy nearly a third of the voting shares of Filipino geothermal energy producer Energy Development Corp. for up to 64.5 billion Philippine pesos ($1.28 billion), the company said Thursday.
BOX Options Exchange LLC is set to open Chicago’s first new open-outcry trading floor in decades after the U.S. Securities and Exchange Commission gave the green light to the outfit’s revised proposal on Wednesday.
The decision by the S&P 500 index manager to ban companies with multiple-class stock arrangements that reserve extra voting power for insiders won't stifle future public companies from establishing such structures, experts say, though it could dampen enthusiasm.
A Fourth Circuit panel ruled Wednesday that a Virginia federal judge's purported ownership of stock in several major financial institutions that were swindled in a $2.3 million mortgage short-sale fraud scheme didn't warrant him tapping out of the accused fraudster's trial.
The U.S. Senate on Thursday confirmed J. Christopher Giancarlo as chairman of the U.S. Commodity Futures Trading Commission and approved two commissioners, a Democrat and a Republican, while waiting to vote on a third Republican nominee.
Australia's financial regulator went after Commonwealth Bank of Australia in federal court on Thursday, seeking to fine the bank for “serious and systemic non-compliance” with the country's anti-money laundering law.
A venture that includes Blue Vista Capital Management has reportedly paid a record $201 million for a Chicago student housing building, Powerhouse Gym is said to be leasing more than 10,000 square feet in New York's Long Island City, and Codina Partners has reportedly scored a $41.4 million construction loan for a Florida multifamily project.
The former CEO of Gerova Financial Group Ltd. was sentenced in a New York federal court Thursday to 78 months in prison after a jury convicted him last year of securities fraud in the $20 million Gerova pump-and-dump scheme.
Blockchain technology holds great long-term promise in the syndicated loan market, but industry participants and regulators will first need to discuss how to properly regulate the technology. The conversation should focus in part on how to confirm the technology's security and how to address new ethical considerations, say Stephen Rutenberg and Robert Wenner of Polsinelli PC.
This week’s idea for improving civil jury trials is remarkably simple: Allow counsel to provide complete opening statements to the entire venire before voir dire begins instead of after the jury is impaneled, say Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project.
The first step in assembling an intelligent response to a request for an alternative fee arrangement is for outside counsel to be certain they understand the primary reasons that the client is making the request, say attorneys with WilmerHale.
While a number of commentators have discussed the specific holding in Kokesh regarding the statute of limitations applicable to disgorgement, the more impactful aspect of the case lies in its reasoning. Counsel should read Kokesh in conjunction with Honeycutt and should integrate these decisions into their analysis in pending disgorgement matters, say Maranda Fritz and Brian Steinwascher of Thompson Hine LLP.
While the prospects of cybersecurity litigation loom ever larger, there are tangible ways that may very well decrease the unease and mitigate the risk. Businesses can likely gain significant insight into the future standards courts will use by looking at what matters most to the regulators, say Michael Bahar, Alexander Sand and Trevor Satnick of Eversheds Sutherland LLP.
These days, legal operations directors can easily get stretched too thin between responsibilities like overseeing support staff and taking on office management responsibilities. Legal operations teams should focus their time and effort on outside counsel management, technology planning and analytics, says Jaime Woltjen of Stout Risius Ross LLC.
Judgment creditors typically satisfy their claims through settlement or, if necessary, by seizing and selling a debtor’s real and tangible personal property. In the rare case when a debtor’s only asset is intellectual property, a creditor must be more determined and creative in order to satisfy its judgment, say Craig Weiner and Michael Kolcun of Robins Kaplan LLP.
With the U.S. Supreme Court term now concluded, we take a look back at some first impressions from the experts when the most impactful decisions for corporate law were handed down.
The law relating to the taking of discovery directly from U.S. law firms is evolving in favor of disclosure when documents have been provided to third parties. Law firms must be vigilant in handling their clients' documents or face being responsible for producing them to third parties, say Steven Kobre and John Han of Kobre & Kim LLP.
Since 1980, there has been a systemic supersizing of business enterprises, the growth of sovereign wealth, and the emergence of international businesses. The pressure this has put on national and regional law firms to go global or go home is enormous, says Fredric Newman, a founding partner of Hoguet Newman Regal & Kenney LLP.