Asset Management

  • July 7, 2017

    Deals Rumor Mill: Elliott Management, Stada, Kind

    Elliott Management may look to usurp Berkshire Hathaway Energy’s $9 billion bid to buy a reorganized Energy Future Holdings, Bain Capital and Cinven are once again getting ready to go after Stada, and the maker of Kind bars is seeking a minority investor.

  • July 7, 2017

    Real Estate Rumors: Prologis, China Vanke, Tahoe Estate

    REIT Prologis is said to have bought a Florida warehouse from American Fruit & Produce for $16 million, a China Vanke venture has reportedly scored a $98.5 million loan for a Long Island City residential and retail project, and an estate in Tahoe, Nevada, is listed for a record $75 million.

  • July 7, 2017

    Vacated Citigroup Award Can't Be Enforced, NY Court Says

    A New York appeals court has upheld a decision to block a former Citigroup Global Markets Inc. customer from seeking to enforce a vacated $10.8 million Financial Industry Regulatory Authority arbitration award, which a French court had recognized without knowing it had been vacated.

  • July 7, 2017

    Feds Blast Ex-Stanford Exec's Bid To Ditch 20-Year Sentence

    The federal government has fought a former Stanford Financial Group executive’s attempt to vacate his 20-year prison sentence over his alleged role in Robert Allen Stanford's $7 billion Ponzi scheme, disputing the man’s claims that his trial attorneys botched a proposed plea deal.

  • July 7, 2017

    SEC Poised To Turn Cybersecurity Focus Into Enforcement

    Officials at the U.S. Securities and Exchange Commission have made it crystal clear they’re focused on how American markets and firms are preparing for and disclosing cyberattacks, and experts say public companies and regulated firms should brace for a wave of enforcement.

  • July 7, 2017

    Skadden's Familiarity With Yahoo Key In Closing $4.48B Sale

    When Yahoo started seriously mulling ways to monetize its Alibaba stake, it turned to longtime adviser Skadden to weigh its options. Although a pretty standard spinoff transaction was initially on the table, tax concerns and activist pressure sent the flagging technology giant back to the drawing board to design a one-of-a-kind divestiture of its core business that ultimately survived two cyberattacks.

  • July 7, 2017

    IOSCO Weighs Liquidity Risks From Asset Management Sector

    The International Organization of Securities Commissions published Friday recommendations for good liquidity risk management for pooled investment scheme in an effort to tackle weaknesses in the asset management sector.

  • July 6, 2017

    2nd Circ. Won't Rehear Madoff-Trustee Calculation Row

    The Second Circuit on Thursday declined to reconsider en banc a recent decision that allowed the trustee of Ponzi schemer Bernie Madoff’s former investment firm to use his preferred valuation method when compensating investors, despite one investor’s pleas that his particular situation be considered on its own.

  • July 6, 2017

    Lehman Judge Signs Off On MBS Claims Estimation Deal

    A compromise years in the making to resolve claims against Lehman Brothers for selling billions of dollars' worth of dud mortgage-backed securities before its collapse by using a court-assisted estimation process was approved by a New York bankruptcy judge Thursday, who hailed the deal as "impressively robust."

  • July 6, 2017

    Ex-Analyst Tells Of 'Depressed' Shkreli After Fund Implosion

    A former analyst for Martin Shkreli’s MSMB Capital Management on Thursday told a Brooklyn federal jury about the aftermath of his botched short of Orexigen Therapeutics stock that wrecked the hedge fund, saying Shkreli was left “depressed in a way I had not seen him before.”

  • July 6, 2017

    F-Squared Trustee Sues Ex-CEO Over 3rd-Party Algorithm

    The liquidating trustee of investment management firm F-Squared Investment Management LLC filed a complaint Thursday in Delaware bankruptcy court claiming a former CEO was negligent when contracting with a third party for a trading algorithm, seeking damages and the return of more than $30 million in fees and compensation.

  • July 6, 2017

    Emails Remain Missing In Case Against NJ Hedge Fund Owner

    FBI agents told a New Jersey federal court Thursday that they can't find all of the emails obtained via a search warrant from accounts belonging to a purported hedge fund owner who stands accused of stealing $4 million from investors and is now seeking to toss his criminal charges over the evidence mishap.

  • July 6, 2017

    Simpson Thacher Guides Blackstone In Showroom REIT Deal

    Private equity giant the Blackstone Group LLP said Thursday that it has agreed to purchase International Market Centers Inc., a real estate investment trust that operates showroom space for the furnishings and home decor industries, with guidance from Simpson Thacher & Bartlett LLP.

  • July 6, 2017

    Thrivent Seeks Win After DOL Abandons Class Action Rule

    A financial services group that has sued to block part of the U.S. Department of Labor’s fiduciary rule asked a Minnesota federal judge on Wednesday to give it a quick win after the regulator said in a related case that it would no longer defend the rule’s ban on class action waivers.

  • July 6, 2017

    Ex-NBA Player’s Adviser Barred From Top Roles In SEC Case

    An investment adviser who faced criminal and civil charges for defrauding former San Antonio Spurs player Tim Duncan was barred from serving as a corporate officer or director in Georgia federal court Wednesday after he settled with the Securities and Exchange Commission.

  • July 6, 2017

    Real Estate Rumors: Santander, Deka Immobilien, L+M

    Santander is eyeing a possible $5.7 billion real estate asset sale to Blackstone, Apollo or Lone Star; Deka Immobilien is said to be paying roughly $110 million for a Chicago hotel; and an L+M Development venture is said to have scored $161 million in financing for an East Harlem affordable housing project.

  • July 6, 2017

    Former State Street Exec Asks For Delay In Fraud Trial

    A former State Street Global Markets LLC executive accused of charging clients hidden commissions on securities trades asked a federal judge in Boston on Thursday to delay his trial for eight months, saying he didn’t yet have documents crucial to his case.

  • July 6, 2017

    RAIT Financial Continues Sell Down With $73M In Deals

    RAIT Financial Trust said Wednesday that it sold four properties in the second quarter for a total of $73.2 million in proceeds, as the Pennsylvania-based real estate investment trust continues its push to become a pure play commercial real estate lender.

  • July 5, 2017

    Trial Over Edison ERISA Suit Revived By High Court Begins

    Energy utility Edison International owes workers over $7.75 million for breaching its fiduciary duty under the Employee Retirement Income Security Act by choosing unnecessarily expensive retirement plans, the workers’ attorney told a California judge Monday on the first day of a bench trial following the U.S. Supreme Court’s revival of the suit.

  • July 5, 2017

    American Realty Facing Investor Suit Over 2014 Swaps

    A group of investment funds that bought security-based swaps based on the common stock of American Realty Capital Properties Inc. filed suit Wednesday in New York federal court, alleging securities fraud and common law fraud that resulted in a price meltdown after the company reported its books were cooked.

Expert Analysis

  • Questions Abound Concerning SEC’s Administrative Process

    Bridget Moore

    While the question — considered again in May by the D.C. Circuit — of whether the U.S. Securities and Exchange Commission’s in-house administrative law judges must be constitutionally appointed has split the federal circuits, another issue looms large: Will the administrative process ever be fair? Bridget Moore and Jonathan Shapiro of Baker Botts LLP look at the big picture.

  • Weekly Column

    Innovating For Wise Juries: Setting Trial Time Limits

    Stephen Susman

    This is the second in a series of articles discussing ideas proposed by the NYU School of Law Civil Jury Project to resuscitate the American jury trial. In this article, Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman argue for setting early and strict time limits in civil jury trials.

  • Monthly Column

    Inside The 1st Muni Bond Criminal Case

    Daniel Wenner

    What led to the Ramapo Local Development Corporation executive director's guilty plea and the Ramapo town supervisor's conviction in the first-ever fraud prosecution over municipal bonds? Let's just say it had a bit to do with ignoring the will of the voters and a little to do with a habitat for rattlesnakes, says Daniel Wenner of Day Pitney LLP.

  • Opinion

    Big Business Lobby Tries To Hobble Litigation Finance, Again

    Allison Chock

    In its most recent petition advocating mandatory disclosure of litigation finance, the U.S. Chamber of Commerce simply rehashes the same arguments from its previous failed efforts to convince the Committee on Rules of Practice and Procedure of the dire implications of undisclosed funding relationships, say members of IMF Bentham Ltd.

  • A Review Of Recent Cases Against Execs: Part 2

    Lauren Briggerman

    In the second half of their summary of major government investigations affecting corporate executives this spring, attorneys with Miller & Chevalier Chtd. highlight key developments that affect executives beyond the investigation phase, including noteworthy sentencings, judicial rulings, and government policies and guidance.

  • Asset Management M&A Is Here To Stay

    Christopher Henry

    There’s a lot of sound reasoning behind the idea that asset management M&A is likely to slow in 2017 after several very busy years. But even if the overall dollar volume of deals falls, and the larger and transformative deals taper off, certain types of deals will continue, says Christopher Henry of Lowenstein Sandler LLP.

  • Series

    The Return Of Attorney-Conducted Voir Dire

    Stephen Susman

    If we truly believe in providing litigants with a jury of one’s peers, we must adopt strategies to ensure that parties and their representatives have a say in selecting their jury. When only judges participate, the result is a less representative and less fair cross section of the community, say Stephen Susman, Richard Jolly and Roy Futterman of NYU School of Law's Civil Jury Project.

  • Monthly Column

    Gray Matters: Identities Are Us

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    Lawyers faced with clients who can’t or won’t listen to their advice must consider that the core of this risky decision may be a person's inability or refusal to relinquish a prime identity in times of uncertainty, say dispute resolution experts Robert Creo and Selina Shultz.

  • The Emerging Popularity Of Interval Funds

    Steven Boehm

    In the past few months, there has been a considerable upsurge in interest in interval funds by money managers in light of investor demand and appetite for them. Attorneys with Eversheds Sutherland explore why investors and money managers alike may continue to flock to them.

  • Glass-Steagall Revival Could Have Profound Impact

    V. Gerard Comizio

    The financial services industry faces the real possibility of a bipartisan effort to reinstate the portions of the Glass-Steagall Act that separated commercial and investment banking. Depending on the final form any new legislation takes, the changes could go further than merely reinstating the status quo as of 1999, say V. Gerard Comizio and Nathan Brownback of Fried Frank Harris Shriver & Jacobson LLP.