Asset Management

  • November 2, 2017

    Seyfarth Shaw Says RICO Suit Can't Prove Tax Shelter Plot

    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.

  • November 2, 2017

    Petrobras, Underwriters Take Class Cert. Row To High Court

    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.

  • November 2, 2017

    VC-Backed Email Tech Co. SendGrid Launches $112M IPO

    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.

  • November 2, 2017

    SEC Chicago Office Head Announces Departure

    U.S. Securities and Exchange Commission Chicago office head David Glockner will leave the agency this month, the securities watchdog announced Wednesday.

  • November 2, 2017

    SEC Sues 235 Cos. Allegedly Tied To Real Estate Co.

    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.

  • November 2, 2017

    GOP Tax Bill Sets 20% Top Corporate Rate

    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.

  • November 1, 2017

    Investor Denies Contact With Ex-Katten Atty Before Deal

    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.

  • November 1, 2017

    Puerto Rico Blasts Request For Restructuring Litigation Stay

    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.

  • November 1, 2017

    Ex-Apache Corp. Engineer Settles SEC Claims For $436K

    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.

  • November 1, 2017

    11th Circ. Won't Revive Ex-Broker's Suit Against FINRA

    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.

  • November 1, 2017

    Prevezon, Feds To Square Off In Settlement Payment Dispute

    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.

  • November 1, 2017

    Hong Kong's CK Asset Selling Office Tower For $5.2B

    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.

  • November 1, 2017

    Investors Say Perrigo Overpromised To Dodge Mylan Takeover

    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.

  • November 1, 2017

    JPMorgan Client Says Atty Should Be Charged With Contempt

    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.

  • November 1, 2017

    Late NFL Player's Ex-Wife Can't Get Added Benefits

    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.

  • November 1, 2017

    Ex-Merrill Lynch Broker To Pay $5M For Overcharging Clients

    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.

  • November 1, 2017

    Feds Want Less Time For Key Witness In Insider Trading Case

    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.

  • November 1, 2017

    FXCM Could Have Warned Investors, Stock-Drop Suit Says

    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.

  • November 1, 2017

    Real Estate Rumors: Blackstone, BofA, Triple Star Realty

    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.

  • November 1, 2017

    Texas-Based Crestline Collects $1.34B From Investors

    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.

Expert Analysis

  • Insider Trading After Martoma: Benefits Without Friends?

    Nathan Bull

    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.

  • A Guide To The Executive Branch Official Nomination Process

    Adam Raviv

    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.

  • Founders Find Leverage In Investors’ Short Memories

    Les Trachtman

    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.

  • Ransomware Issues Too Often Lost In The Shuffle: Part 2

    John Reed Stark

    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.

  • DOL's Fiduciary Rule: Death By A Thousand Cuts?

    Andrew Oringer

    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.

  • How Collaboration Is Changing Inside Some Law Firms

    Chris Cartrett

    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.

  • Opinion

    Dealing With Difficult Lawyers

    Alan Hoffman

    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.

  • De-Risking Strategies For Defined Benefit Pension Plans

    Excerpt from Lexis Practice Advisor
    Richard McEvoy

    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.

  • Delaware Suit Brings Lessons For Externally Managed REITs

    Steven Haas

    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.

  • Shkreli Trial And Other Magic Tricks: A Chat With Ben Brafman

    Randy Maniloff

    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.