Seyfarth Shaw LLP told an Illinois federal judge on Thursday that a man's Racketeer Influenced and Corrupt Organizations Act claims accusing the law firm of selling him an illegal tax shelter blew his last chance to argue it was part of a pattern of fraud.
Petrobras and a group of investment banks that were sued by the Brazilian energy giant’s investors asked the U.S. Supreme Court on Tuesday to reverse an appellate court’s ruling making it easier for the case to move forward, saying the decision clashed with the top court’s precedents for securities class actions.
Venture-backed email delivery service SendGrid Inc. set terms Thursday on an initial public offering that could raise about $112 million, one day after real estate investor Workspace Property Trust launched an estimated $527 million IPO, adding to a bevy of issuers scheduled to price offerings next week.
U.S. Securities and Exchange Commission Chicago office head David Glockner will leave the agency this month, the securities watchdog announced Wednesday.
The U.S. Securities and Exchange Commission has asked a Florida federal judge to make 235 limited liability companies it believes are linked to a privately held real estate investment firm respond to subpoenas, saying it has no other way of moving forward with its investigation of potential fraud.
House Republicans on Thursday released their long-awaited tax bill that aims to lower the top corporate income tax rate to 20 percent, introduce a top tax rate of 25 percent for pass-through businesses and maintain the top individual rate at 39.6 percent.
The jury in the Brooklyn federal conspiracy trial of ex-Katten Muchin Rosenman LLP partner and Retrophin counsel Evan Greebel heard an investor say that he struggled to cash out of a Martin Shkreli-run hedge fund, but had no contact with Greebel until weeks after he struck a deal with Shkreli.
Puerto Rico has asked the federal judge overseeing its bankruptcy-like restructuring to deny one creditor’s request to pause the massive case for 90 days in the wake of Hurricane Maria, saying a speedy resolution is essential to the island’s recovery.
A former Apache Corp. engineer will pay $436,000 to settle claims he made insider trades in Apache stock ahead of a big announcement about a new source of oil being developed by the company, the U.S. Securities and Exchange Commission said Wednesday.
An Eleventh Circuit panel on Wednesday affirmed a Florida federal court’s decision to toss a former broker’s claims against the Financial Industry Regulatory Authority, finding that the lower court did have jurisdiction over the case even if the former broker didn’t have a right to bring those claims.
A New York federal judge on Wednesday ordered the Justice Department and several Russian companies implicated in a high-profile tax fraud case back to court after the federal government accused the defendants of refusing to make a $5.9 million settlement payment.
CK Asset Holdings Ltd., a firm run by billionaire Li Ka-shing, is selling its 75 percent stake in a Hong Kong office and retail tower for HK$40.2 billion ($5.2 billion), according to a filing by CK Asset with the Stock Exchange of Hong Kong on Wednesday.
Perrigo Co. PLC investors filed suit against the company in New Jersey federal court on Wednesday, saying it made misleading statements in connection with its ultimately successful attempts to escape its generic pharmaceutical competitor Mylan NV’s hostile takeover bid in 2015.
The mention of a rich JPMorgan Chase & Co. client's name jarred former banker Jennifer Sharkey's retaliation trial against the megabank on Tuesday and caused the client's lawyer to ask for a criminal contempt case to be made against Sharkey's lawyer.
A Massachusetts federal judge on Wednesday ruled that the ex-wife of late NFL player Mosiula Tatupu is only entitled to one-third of his pension benefits under a 1997 divorce agreement, refusing to overturn a retirement board’s decision denying her additional benefits.
A former Merrill Lynch broker has agreed to pay $5 million to settle accusations that he overcharged dozens of clients over a three-year period ending in 2015, the U.S. Securities and Exchange Commission said Tuesday.
Federal prosecutors have told a New York federal judge that they plan to request a lighter sentence for an insider trader-turned-key witness in the government’s case against a former investment banker at JPMorgan Chase & Co. who was convicted of leaking upcoming merger news to his father so the father could profit.
Lawyers for a proposed class that accuses foreign exchange trading company FXCM Inc. of defrauding investors urged a New York federal judge not to dismiss the case, saying evidence from a regulatory probe makes it clear that FXCM was no “innocent victim” of a nasty surprise.
The Blackstone Group has reportedly bought a 4 million-square-foot portfolio from Principal Real Estate Investors for $500 million, Bank of America is said to have loaned $470 million for a Chicago office tower, and Triple Star Realty has reportedly sold a Queens, New York, development site for $115 million.
Crestline Investors Inc., a Texas-based asset management firm that also does business in the private equity space, has raised $1.34 billion for an investment strategy aimed at taking advantage of market dislocations and inefficiencies in the primary and secondary credit markets in North America and Europe.
The Second Circuit's recent Martoma decision potentially expands the category of persons that, upon the disclosure of confidential information without pecuniary or tangible benefit, may constitute tippers or tippees subject to insider trading liability, say attorneys with Cadwalader Wickersham & Taft LLP.
Although the Trump administration has completed the vetting and confirmation of a cabinet and White House staff, thousands of senior positions remain unfilled throughout the executive branch. More than ever, people selected for those posts find themselves under close scrutiny, say Adam Raviv and Reginald Brown of WilmerHale.
The only rationale for why the capital markets have succumbed to the trendy scheme of dual-class stock is that economist John Kenneth Galbraith was right — when it comes to financial markets, we do have short memories. History is littered with well-meaning founders and chief executives who succumbed to the seduction of wealth and power, says Les Trachtman, CEO of The Trachtman Group.
Notification responsibilities relating to a ransomware attack can become complicated and may not precisely align with other cybersecurity-related notification obligations and triggers, says John Reed Stark, president of John Reed Stark Consulting LLC.
Every now and then one wakes up with a thought along the lines of, "How the heck did we get to where we are?" Such a thought may easily be brought to mind by the present state of play regarding the U.S. Department of Labor's new fiduciary regulation, says Andrew Oringer of Dechert LLP.
In our recent survey of business of law professionals, nearly half of respondents said that who they collaborate with, inside their law firm, is different from five years ago, says Chris Cartrett of legal software provider Aderant.
Some lawyers tend to be overly aggressive, regarding law practice as a zero-sum game in which there are only winners and losers. The best response is to act professionally — separating the matter at hand from the personalities. But it is also important to show resolve and not be vulnerable to intimidation, says Alan Hoffman of Husch Blackwell LLP.
With so many defined benefit pension plans facing funding issues, burdensome regulatory requirements, and a changing employee benefits environment, many employer plan sponsors have chosen to curtail or eliminate these employee benefit offerings. Richard McEvoy, practice leader of Mercer’s financial strategy group, addresses current de-risking strategies for these types of plans.
A Delaware court recently denied a motion to dismiss H&N Management Group v. Crouch, a shareholder derivative suit brought against an externally managed real estate investment trust alleging breach of fiduciary duties. The case is a reminder about managing conflicts of interest, among other things, say Steven Haas and David Wright of Hunton & Williams LLP.
Ben Brafman’s clients don’t need a lawyer — they need a magician. And for 40-plus years, the man has been pulling rabbits out of hats, most recently finding jurors able to sit fairly in judgment of Martin Shkreli, called “the most hated man in America.” Last month I visited Brafman to discuss his remarkable career, says Randy Maniloff of White and Williams.