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Asset Management

  • May 7, 2018

    Patriarch Calls $10M TransCare Clawback Suit 'Nonsensical'

    Private equity fund Patriarch Partners asked a New York bankruptcy court on Friday to dismiss claims in a $10 million clawback suit over the private equity firm’s alleged role in bankrupting ambulance company TransCare Corp., calling the suit “nonsensical.”

  • May 7, 2018

    SEC Republican Commissioner Michael Piwowar To Step Down

    Michael Piwowar, a Republican member of the five-person U.S. Securities and Exchange Commission, said Monday he will step down in July or earlier if his replacement is appointed and sworn in before then.

  • May 7, 2018

    Puerto Rico Finance Monitor Can't Duck Journos' Bid For Docs

    A Puerto Rico district court has ruled that the island’s federally appointed oversight board must turn over internal documents to journalists, a move that severely undermines the board’s claims of broad constitutional immunity and could open the door to future lawsuits against it.

  • May 7, 2018

    NJ Can't Ding Disability Retirees For Missed Exams: Court

    A New Jersey appeals court handed a win Monday to a teachers union challenging regulations dictating the disability retirement process for certain state retirement systems, nullifying a rule that shifted the cost of later medical exams onto applicants if they missed an initial appointment.

  • May 7, 2018

    Investors Rebut Bid To Move Fraud Case From Miami To Brazil

    Two investment entities seeking tens of millions of dollars over an alleged multibillion-dollar investment fraud orchestrated by one of Brazil's leading businessmen told a Florida federal judge Friday that the businessman and others' arguments that Miami is not an appropriate forum fall short and Brazil is not a viable alternative.

  • May 7, 2018

    Kosovo Beats €380M Claim Over Postal Authority Bidding Row

    The Republic of Kosovo has defeated a German investment firm’s €380 million ($453.2 million) claim relating to a failed privatization attempt of the southeast European nation’s postal and communication authority, after an international tribunal concluded the firm had not made a qualifying investment.

  • May 7, 2018

    7th Circ. Says SEC Lacks Jurisdiction In Exchanges' Fee Fight

    The Seventh Circuit sided with the U.S. Securities and Exchange Commission on Monday in an appeal over unwarranted trading fees involving so-called market makers and exchanges, finding the agency doesn’t have jurisdiction over private-party petitions for damages involving alleged rule violations.

  • May 7, 2018

    Fate Of Defendant In $7M Fraud Case In Mass. Jury's Hands

    A Massachusetts federal jury will begin mulling the fate of a man who prosecutors say swindled a dozen people out of nearly $7 million by masquerading as a thriving businessman and soliciting investments to fund his own lavish lifestyle, while his attorney said his client always acted in good faith.

  • May 7, 2018

    CFTC Pick Reports Earning Almost $1.2M At WilmerHale

    The co-chair of WilmerHale's futures and derivatives practice who was tapped for a spot in the U.S. Commodity Futures Trading Commission has filed a report with the U.S. Office of Government Ethics revealing he earned nearly $1.2 million at the law firm in 2017 and the first few months of this year.

  • May 7, 2018

    Dechert Beefs Up Finance Team With Ex-Kirkland Atty

    Dechert LLP said it has hired a former Kirkland & Ellis LLP partner whose practice areas include commercial real estate finance, asset-backed securities and derivatives, and fintech, further bolstering its global finance team.

  • May 7, 2018

    Simpson Thacher Guides Blackstone's $7.6B Gramercy Buy

    Simpson Thacher & Bartlett LLP represented The Blackstone Group LP in connection with its $7.6 billion deal announced Monday to buy Wachtell Lipton Rosen & Katz-counseled Gramercy Property Trust.

  • May 7, 2018

    Orbital Told To Disclose Witness Reports In Stock-Drop Suit

    A federal judge in Virginia told defense contractor Orbital ATK Inc. to hand over witness interview reports compiled during an internal investigation into financial misstatements made about a $400 million loss on a U.S. Army contract, saying that investors suing the company may review the documents after they've been redacted. 

  • May 4, 2018

    Law360 Reveals Titans Of The Plaintiffs Bar

    They’ve gone up against big-name companies while advocating for plaintiffs ranging from grieving family members to shareholders and consumers in some of the biggest and most well-known cases of the past year.

  • May 4, 2018

    Insurer Asks 4th Circ. To Nix $87M Heparin Coverage Ruling

    Travelers Property Casualty Co. and American Capital Ltd. are squaring off in the Fourth Circuit after a lower court ruled the insurer must pay $87 million to defend against tainted blood thinner lawsuits, with Travelers arguing the whole episode was never covered and American Capital seeking bad faith damages.

  • May 4, 2018

    Hunton Guides Suntrust's $120M Loan To Boston Properties

    Hunton Andrews Kurth LLP represented Suntrust Bank in connection with its $120 million loan to real estate investment trust Boston Properties Inc. for a property on Madison Avenue in New York City, according to records made public Friday.

  • May 4, 2018

    Perkins Coie, Bracewell Accused Of Botching Trading IP Deal

    Electron Trading LLC has filed a legal malpractice suit against Perkins Coie LLP and Bracewell LLP for allegedly mishandling an agreement for Morgan Stanley to license an electronic trading system that Electron developed and costing it millions of dollars.

  • May 4, 2018

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen a commercial fraud claim against asset manager Shire Warwick Lewis, Italian insurers sue a shipper, and Denmark's tax authority take action against ED&F Man Capital Markets and more than five dozen other firms. Here, Law360 looks at those and other new claims in the U.K.

  • May 4, 2018

    Starwood To Sell $1.1B UK Hotel Portfolio To Parisian Firm

    Starwood Capital Group said Thursday it has agreed to sell an £830 million ($1.1 billion) portfolio of 14 hotels in the United Kingdom to a hotel real estate subsidiary of Parisian holding company Foncière des Régions.

  • May 4, 2018

    Pa. Broker Gets 5 Years For $2M Ponzi Scheme

    A Pennsylvania broker received a roughly five-year sentence at the low end of federal guidelines on Thursday after federal prosecutors and the U.S. Securities and Exchange Commission accused him in separate criminal and civil suits of running a $2 million Ponzi scheme for 25 years whose victims included the retired and elderly.

  • May 4, 2018

    5 Firms To Steer IPOs Exceeding $3.9B, Led By Axa Unit

    Five firms will guide initial public offerings projected to surpass $3.9 billion during the week of May 7, led by Axa Equitable Holdings Inc., the U.S. division of French insurance and asset management firm Axa SA, which could price the biggest U.S. IPO since 2014.

Expert Analysis

  • Expats Beware: OVDP Is Over In September

    Glen Frost

    U.S. taxpayers with undisclosed foreign accounts need to act soon as the IRS is ending its offshore voluntary disclosure program in six months, says Glen Frost of American Citizens Abroad.

  • Opinion

    Companies Should Avoid The BigLaw Bonus Structure

    Michael Moradzadeh

    Since passage of the Trump tax plan last year, companies have been touting bonuses they’ve handed down to rank-and-file employees. This highlights the trend of employers favoring bonuses over pay raises in the belief that variable, short-term rewards are less risky to the business than permanent increases in labor costs. But law firms have used this strategy for years — and there are dangers, says Michael Moradzadeh of Rimon PC.

  • Chief Innovation Officer — The New Star On Legal Teams

    Mark Williamson

    Over the past few years, forward-thinking law firms have expanded their talent pools to include a chief innovation officer, whose responsibilities include spearheading the implementation of technology. It is a smart move, says ​​​​​​​Mark Williamson, co-founder and chief technology officer at Hanzo Archives Ltd.

  • Regulation Of Thrift-Holding Insurers May Shift To States

    Daniel Rabinowitz

    Insurers should watch the proposed State Insurance Regulation Preservation Act closely as they navigate shifting regulatory waters. This bill would essentially cede major aspects of group regulation to state regulators and the National Association of Insurance Commissioners, says Daniel Rabinowitz of Kramer Levin Naftalis & Frankel LLP.

  • Opinion

    National Lawyers Need National Licensing For National Courts

    EJ Hurst II

    Just last month, a number of legal groups asked the Northern District of California to strike its rule requiring that, before seeking federal court admission, attorneys first be licensed by the state of California. It is irrational to exclude seasoned federal practitioners from general admission due to state bar approval while allowing raw state lawyers who have never been inside a federal courtroom, says attorney EJ Hurst.

  • SEC, CFTC Display United Front On Cryptocurrency

    Laura Anthony

    In a recent Senate committee hearing on virtual currencies, both Jay Clayton and Christopher Giancarlo confirmed that the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission are working together to ensure effective oversight. However, regulation and oversight need to be fashioned in a way that properly addresses the new technology, says Laura Anthony of Legal & Compliance LLC.

  • Changes To Rule 23 Are Coming, Are You Prepared?

    Niki Mendoza

    Proposed amendments to the Federal Rules of Civil Procedure Rule 23, which governs class actions, are set to take effect on Dec. 1, 2018, pending approval. The amendments would significantly alter class action litigation procedure from notice to settlement, says Niki Mendoza of Garden City Group LLC.

  • An Update On Spoofing And Its Challenges

    Ilan Guedj

    Regulators have recently increased their efforts in cracking down on spoofing, yielding an increasing number of criminal indictments and civil settlements. However, an important challenge in identifying spoofing is separating legitimate calculations from those that were intended to manipulate the market, say Ilan Guedj and An Wang of Bates White LLC.

  • Lawyering A La Carte: Unbundled Dispute Resolution Services

    David Wallace

    There's no reason for limiting unbundled legal services to family law or even pro se litigants. Wider adoption, especially by litigators, presents an opportunity to correct law's distribution and pricing problem, to make justice practically available to all, and to dethrone litigation as the "sport of kings," says New York-based trial lawyer David Wallace.

  • You’re Perfect, Now Change: Perfectionism Hurts Lawyers

    Peter Norman

    Like medical professionals, lawyers often resist policies to reduce errors due to the culture of perfectionism that permeates the industry. Autonomy is key to the legal professional's prestige and the outward demonstration of competence is key to maintaining autonomy, says Peter Norman of Winnieware LLC.