Asset Management

  • February 1, 2018

    Stock Issuance Void In Tony Roma's Board Row: Chancery

    The Delaware Chancery judge presiding over a fight about the board composition for the company that owns the Tony Roma's restaurant chain ruled Thursday that a stock issuance designed to dilute an investment fund’s holdings and prevent a takeover was void and can’t be used to calculate shareholder votes.

  • February 1, 2018

    REIT Investors Look To Keep Fraud Suit Alive Amid Deal Talks

    Investors in two United Development Funding real estate investment trusts who sued them for fraud in Texas federal court urged a judge on Wednesday to keep the case alive, even as they are reportedly closing in on a mega-settlement that would solve the REITs’ purported problems.

  • February 1, 2018

    Allen Matkins Guides Kennedy Wilson's $93M Multifamily Buy

    Allen Matkins Leck Gamble Mallory & Natsis LLP represented Kennedy Wilson on its purchase of a pair of multifamily properties in the Salt Lake City area for a combined $92.5 million, according to an announcement from the Beverly Hills, California-based real estate investment company on Thursday.

  • February 1, 2018

    Real Estate Rumors: Cai Kui, BNY Mellon, Blackstone

    The family office of Chinese investor Cai Kui is reportedly close to a deal to buy a hotel portfolio from MassMutual for as much as $800 million, Bank of New York Mellon will reportedly sublet its space at Brookfield Place in New York, and Blackstone is said to have picked up a three-building complex in California for $42 million.

  • February 1, 2018

    Securities Trade Groups Brace For Benchmark Transition

    Four trade associations on Thursday outlined challenges the financial industry will face in changing financial market contracts and practices to reflect new risk-free overnight interest rates central bankers have called for in an effort to replace benchmarks that have been rocked by scandal.

  • February 1, 2018

    Puerto Rico Electric Co. Preparing To Privatize, Says Panel

    Puerto Rico's beleaguered public electric utility has kickstarted efforts to modernize its infrastructure, which was exposed as outdated and inefficient in the wake of Hurricane Maria, by advancing a push to privatize operations and adopting a new visionary framework, a governing board member said Thursday.

  • February 1, 2018

    Platinum Partners Judge Says He's 'Unlikely' To Split Trial

    The Brooklyn federal judge hearing the government’s fraud cases against hedge fund Platinum Partners told the seven men facing criminal charges on Thursday that he was "unlikely" to try them separately, raising the prospect that they may not face jurors until 2019.

  • January 31, 2018

    Barclays, Citi Say Lehman Can't Issue New Preferred Stock

    Barclays Bank PLC and Citigroup have joined with Deutsche Bank AG in urging a New York bankruptcy court to prevent Lehman Brothers Holdings Inc. from issuing preferred stock to substitute the banks’ potentially more valuable interests in Lehman debt, saying the defunct firm’s Chapter 11 plan prohibits the move.

  • January 31, 2018

    Puerto Rico Bondholders Lose Bid To Force Debt Payments

    The federal judge presiding over Puerto Rico’s restructuring cases Tuesday told a group of commonwealth bondholders she doesn’t have the authority to force the island’s government to put hundreds of millions in special revenues toward paying off their notes.

  • January 31, 2018

    Beus Gilbert Granted $88M Fee Request For RenCo Suit Win

    Beus Gilbert PLLC won court approval Wednesday for $88.03 million in fees after an 11-year pursuit of a bankruptcy trustee’s claims against billionaire industrialist Ira Rennert and his RenCo Group Inc. for allegedly plundering bankrupt subsidiary Magnesium Corp. — and the ultimate win of a $214.7 million judgment.

  • January 31, 2018

    Oracle 401(k) Participants Win Class Cert. In ERISA Suit

    A Colorado federal judge on Tuesday granted class certification to tens of thousands of Oracle Corp. 401(k) plan participants in an Employee Retirement Income Security Act suit alleging the technology company racked up excessive record-keeping fees and retained poorly performing funds. 

  • January 31, 2018

    Ex-Morgan Stanley Advisers Cop To Fraud Charges

    Two Boston-area former Morgan Stanley financial advisers were charged and quickly agreed to plead guilty Wednesday to using client money to fund their own investments and to pay personal expenses, on the same day the Securities and Exchange Commission launched an enforcement action against the duo.

  • January 31, 2018

    Life Time Fitness Investors Can't Bring Back PE Buyout Suit

    A Minnesota federal judge on Tuesday said a group of Life Time Fitness Inc. investors cannot revive their lawsuit over the company’s 2015 private equity buyout, finding that the shareholders are unable to pinpoint any new information that could alter the court’s initial decision.

  • January 31, 2018

    7th Circ. Overturns Ariel Investments' Trademark Win

    The Seventh Circuit on Wednesday reversed a lower court's finding that Florida-based boutique wealth management firm Ariel Capital Advisors LLC infringed Chicago-based Ariel Investments LLC's trademarks, agreeing with the smaller firm that it lacked enough ties to Illinois for the lower court to hear the case.

  • January 31, 2018

    Shkreli Sentencing Delayed While Parties Mull Loss, Forfeiture

    Former pharmaceutical executive and convicted fraudster Martin Shkreli on Wednesday had his sentencing pushed off for another two weeks so his lawyers and the federal government can make their cases for how much investors lost and how much he gained from criminal wrongdoing.

  • January 31, 2018

    Fired HSBC Veep's Retaliation Case Deep-Sixed By 2nd Circ.

    The Second Circuit on Wednesday shut down a challenge to a jury verdict in favor of HSBC Securities against former bank senior vice president Mike Picarella, who claimed his 2015 firing came in retaliation for his decision to stick up for a coworker who was harassed.

  • January 31, 2018

    Jury Convicts Pa. Man In $2M Investment Fraud Scheme

    A federal jury on Tuesday convicted a Pennsylvania businessman on fraud charges for bilking investors out of some $2 million on false promises he would use the money to help incubate a string of promising startup businesses.

  • January 31, 2018

    Ex-Investment Banker Gets Probation For Insider Trading

    A former executive for LBMZ Securities who pled guilty last year to insider trading charges will serve periods of probation and home confinement, with the Illinois federal judge who handed him his sentence saying Wednesday his cooperation in the case has helped keep him out of prison.

  • January 31, 2018

    Singapore REIT Cache Pays $154M For Aussie Warehouses

    Singapore real estate investment trust Cache Logistics Trust on Wednesday said it will pay AU$191 million ($154 million) to acquire nine warehouses in eastern Australia in a deal that nearly doubles its holdings in the country.

  • January 31, 2018

    Fujifilm Takes Over Xerox In $6.1B Joint Venture Deal

    Fujifilm Holdings Corp. said Wednesday it will take control of Xerox Corp. through a $6.1 billion deal that involves an existing joint venture between the companies and establishes an industry giant in the printing, document and workplace solutions market.

Expert Analysis

  • SEC Enforcement: Past, Present And Future

    Brian Rubin

    In Dan Brown’s latest best-seller "Origin," he explores where we come from and how we will evolve. The U.S. Securities and Exchange Commission's fiscal 2017 enforcement report is no "Origin," "The Da Vinci Code" or even "Inferno," but the SEC has raised "Origin"-like questions, say Brian Rubin and Gregory Amoroso of Eversheds Sutherland.

  • Series

    40 Years Of FCPA: The Strange Case That Started It All

    Burton Wiand

    At the U.S. Securities and Exchange Commission in April 1978, we filed a case against Page Airways and envisioned the trial of a precedent-setting enforcement action that would have defined Foreign Corrupt Practices Act standards at an early stage. Instead, the matter was settled under circumstances that I am sure are unique in SEC history, says Burton Wiand of Wiand Guerra King PA.

  • The Derivative Risks Of Sexual Misconduct Allegations

    Kevin LaCroix

    The recent derivative lawsuit against Twenty-First Century Fox and its $90 million settlement — likely among the 10 largest derivative settlements — show that the current, ongoing revelations of sexual misconduct represent more than just a risk for the bad actors, says Kevin LaCroix of RT ProExec.

  • 7 Best Practices For Wealth-Managing Fiduciaries

    Stuart Riemer

    The debate over who in the financial services industry should be required to act as a fiduciary has been getting more intense, but whether you are charged with managing someone else’s wealth as a trustee, an executor or a financial adviser, having the client’s needs come first is always paramount, says Stuart Riemer of Treasury Partners.

  • The Billing Evolution: How Far Along Is Your Firm?

    Sharon Quaintance

    In a recent study, 20 out of 25 law firms surveyed have made billing process improvement a top priority for 2018. Firms can foster consistency and increase efficiency at all stages of their billing cycle by focusing on a few specific procedures, say Sharon Quaintance and Christine Indiano at HBR Consulting.

  • 10 Tips For Effective Practice Before The 5th Circ.

    Justin Woodard

    The Fifth Circuit is among the busiest federal circuit courts in the country. What can you do to increase your chances of reaching oral argument? And if given the opportunity, how can you present a persuasive argument? Former Fifth Circuit clerk Justin Woodard, an associate at Jones Walker LLP, shares some advice.

  • Preparing Your Company Witnesses For The Gotcha Question

    Matthew Keenan

    Catching a witness flat-footed on an important topic is no longer confined to cable news, and corporate legal defenses can likewise die when witnesses profess ignorance on things that jurors believe they should know. However, employing some common sense tools can minimize potential harm, says Matthew Keenan of Shook Hardy Bacon LLP.

  • Series

    Judging A Book: Saris Reviews 'Locking Up Our Own'

    Judge Patti Saris

    Having just completed a six-year term as chair of the U.S. Sentencing Commission, I read Yale Law School professor James Forman's new book, "Locking Up Our Own: Crime and Punishment in Black America," with particular interest, says Judge Patti Saris, chief judge for the U.S. District Court for the District of Massachusetts.

  • When Activists Are At The Gate: Lessons From Chancery

    Edward Micheletti

    Several recent Delaware Chancery Court opinions offer helpful insight about the impact that activist investor involvement has on board decision-making leading to a transaction, and how these board decisions will be reviewed by the courts in any subsequent litigation, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • It’s OK, Whistleblowers Will Always Have SOX

    Scott Oswald

    Based on U.S. Supreme Court arguments Tuesday in Digital Realty Trust v. Somers, corporate whistleblowers are headed back to a world in which their main protection against retaliation will be the stalwart Sarbanes-Oxley Act, says Scott Oswald of The Employment Law Group PC.