Asset Management

  • June 14, 2017

    Facing 8 Years In Prison, Coin.mx Founder Begs For Leniency

    A founder of bitcoin exchange Coin.mx who pled guilty to bank fraud and other charges asked a New York federal judge on Wednesday to sentence him to “dramatically less” than eight years behind bars, saying a rote application of sentencing guidelines would be unjust.

  • June 14, 2017

    Ropes & Gray Guides $435M Hamilton Lane Investment Fund

    Alternative asset manager Hamilton Lane Inc. closed a $435 million credit-oriented investment fund Wednesday with the assistance of Ropes & Gray LLP, exceeding its initial fundraising target by nearly $200 million.

  • June 14, 2017

    New Senior Hit With Shareholder Suit Over $640M Deal

    A New Senior Investment Group Inc. shareholder hit the senior-living property operator’s board with a derivative suit Tuesday in Delaware Chancery Court over a $640 million acquisition in 2015 that allegedly was fueled by the directors' conflicting self-interests and cost stockholders millions of dollars. 

  • June 14, 2017

    Rakoff Rips Guidelines, Gives Ex-Visium Manager 1.5 Years

    A former analyst and portfolio manager at Visium Capital Management LP accused of scheming to overvalue a $480 million health care sector fund was sentenced Wednesday to one and a half years in prison by U.S. District Judge Jed S. Rakoff, who derided the applicable federal sentencing guidelines as “barbaric.”

  • June 14, 2017

    Ex-Exec, SEC Settle Suit Over Pump-And-Dump Reporting

    The former chief compliance officer of brokerage firm Windsor Street Capital LP has settled the U.S. Securities and Exchange Commission’s allegations that he failed to report $24.8 million in suspicious trading activity linked to a microcap stock pump-and-dump scheme.

  • June 14, 2017

    CFTC Settles Off-Exchange Deals Dispute For $1.63M

    The U.S. Commodity Futures Trading Commission said Tuesday it has reached a roughly $1.63 million settlement in a Florida federal suit against a company that allegedly offered off-exchange leveraged commodities transactions.

  • June 14, 2017

    Elliott Eyes BHP Board Overhaul, Independent Review

    Activist investor Elliott Management on Wednesday urged BHP Billiton to acknowledge shareholders’ calls to make "substantial and meaningful change," noting that the anticipated appointment of a new chairperson is an opportunity for the mining and petroleum giant to independently review strategic options and refresh its board.

  • June 14, 2017

    3M Asks 8th Circ. To Reconsider Ponzi Loss Coverage

    3M asked the Eighth Circuit on Tuesday to reconsider a finding that its insurers needn't cover alleged Ponzi scheme investment losses, saying its $100 million worth of crime insurance coverage applied not just to “owned” money but to money for which 3M was legally responsible.

  • June 13, 2017

    All-Time Top Securities Settlements Boosted By Record 2016

    A new report ranking the largest-ever securities class action settlements shows securities attorneys were busy last year, reaching 13 settlements that landed in the top 100 deals of all time and resulted in the largest total settlement amount of any single year.

  • June 13, 2017

    REIT Ex-CFO Made Up Numbers To Match Guidance, Feds Say

    Ex-American Realty Capital Properties Chief Financial Officer Brian S. Block made up financial data to make sure that an earnings metric in SEC filings matched the company's guidance, prosecutors said Tuesday in New York federal court at the opening of Block's trial for securities fraud, conspiracy and making false filings.

  • June 13, 2017

    MF Global Insurer Must Post $15M To Continue Arbitration Bid

    A New York bankruptcy judge ruled Monday that defunct brokerage MF Global's excess insurer Allied World must post a $15 million bond before the court can consider the insurer's request to arbitrate a coverage dispute in Bermuda, saying Allied World cannot evade requirements of New York insurance law.

  • June 13, 2017

    Former SEC Deputy Chief Of Staff Joins Quinn Emanuel

    Quinn Emanuel Urquhart & Sullivan LLP expanded its securities practice on Monday with the addition of new partner who worked for almost a decade in the U.S. Securities and Exchange Commission, including serving as a deputy chief of staff and senior legal adviser to former Chair Mary Jo White.

  • June 13, 2017

    White House Taps Ex-Derivatives Industry Lobbyist For CFTC

    President Donald Trump on Monday formally nominated Dawn DeBerry Stump, a government relations consultant and former top derivatives industry lobbyist, to serve as a commissioner on the U.S. Commodity Futures Trading Commission.

  • June 13, 2017

    Ex-State Street Exec. Should Face Fraud Charges, Feds Say

    The U.S. government told a Massachusetts federal court Monday that a former State Street Global Markets LLC executive defied common sense when arguing for the dismissal of charges over his alleged $20 million scheme that fleeced overseas fund clients.

  • June 13, 2017

    UBS Says Fired Adviser Not Whistleblower Under Dodd-Frank

    UBS Financial Services Inc. urged a New Jersey federal court on Monday to toss a former financial adviser’s wrongful termination suit, saying that the ex-employee can’t claim his firing was unlawful retaliation for whistleblowing because he wasn’t actually a whistleblower.

  • June 13, 2017

    Traders Who Used Schwab Get 3rd Crack At Fraud Suit

    A California federal court Tuesday rejected investors' allegations that Charles Schwab & Co. Inc. routed trade orders to UBS Securities LLC even when it did not offer the best value, but gave the potential class a chance to fix its lawsuit to include all the elements of fraud.

  • June 13, 2017

    Real Estate Rumors: JP Morgan, Facebook, Robert W. Baird

    A J.P. Morgan Investment Management entity has reportedly sold a Miami apartment complex for $78.15 million with the buyer receiving financing from Prudential, Facebook is said to be considering leases at two San Francisco buildings, and Robert W. Baird has reportedly reached a deal to lease 16,000 square feet in Manhattan.

  • June 12, 2017

    Justice Ginsburg On Diversity And Persuading Her Colleagues

    Justice Ruth Bader Ginsburg discusses what it means to have three women on the court, the aftermath of hostile Senate confirmation fights, and why justices sometimes do the unexpected, in the first of two articles based on an exclusive interview with the feminist icon.

  • June 12, 2017

    Feds Go After New Luxe London Properties In 1MDB Scandal

    U.S. prosecutors have expanded their efforts to seize assets linked to a Malaysian embezzlement scandal, telling a California federal court that two London buildings worth nearly $100 million were paid for with funds that financier Jho Low and his associates stole from a sovereign investment fund.

  • June 12, 2017

    Citi To Pay $1M For Lax Trade Controls Behind Price Swings

    A unit of Citigroup Inc. has agreed to pay $1 million to resolve claims that it violated market rules and supervisory requirements for more than four years, allowing employees to send erroneous trade orders — including one worth over $13 billion — that sent shudders through the markets, according to a settlement posted Friday by the Financial Industry Regulatory Authority.

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.