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.”
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.