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Asset Management
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April 23, 2025
Silvergate Settles Securities Class Action For $37.5M In Ch. 11
The parent company of Silvergate Bank has asked a Delaware bankruptcy judge to approve a new deal to settle a securities class action for $37.5 million and resolve a slew of indemnification issues in its Chapter 11, a resolution that the debtor said would save it potentially millions of dollars in legal fees.
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April 23, 2025
Investment Fund Insists On DQing Connell Foley From Bias Suit
A Black-owned investment company asked a New Jersey federal court to overturn a magistrate judge's decision denying its bid to disqualify a Connell Foley LLP attorney from representing the state in the investment firm's bias case.
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April 23, 2025
GOP Leader Proposes Modernizing Contractor Rules
U.S. Senate Health Education Labor and Pensions Committee Chairman Bill Cassidy, R-La., on Wednesday unveiled proposals he says will modernize the independent contractor model without hindering workers' flexibility and profit opportunities, suggesting several changes Congress could take.
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April 23, 2025
3 Firms Guide Launch Of $3.6B SoftBank-Backed Bitcoin Co.
Bitcoin investment startup Twenty One Capital Inc. plans to go public by merging with a special purpose acquisition company affiliated with Cantor Fitzgerald at a $3.6 billion valuation, in a deal guided by three law firms, the parties announced on Wednesday.
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April 23, 2025
Sidley-Led Stonepeak Plugs $1.5B Into New Data Center Biz
Infrastructure and real assets-focused private equity shop Stonepeak, advised by Sidley Austin LLP, revealed on Wednesday that it launched a new North American hyperscale-focused data center company with a $1.5 billion equity commitment.
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April 22, 2025
Fed's Buffer Plan Marks Start Of Stress Test Reform 'Journey'
The Federal Reserve entered a new era last week with a proposal to smooth out fluctuations in a key capital requirement for big banks, making an opening move toward what industry experts see as potentially much bigger stress-testing reforms on the horizon.
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April 22, 2025
Texas Court Questions $55M Arbitration Award's Validity
A Texas appeals panel asked why a $55 million arbitration award to the former director of a Dallas alternative asset investment company can't float just because the arbitrator based the damages on securities filings, saying Tuesday that arbitrators have broad discretion to determine damages.
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April 22, 2025
Majority Shareholders Sanctioned In Telecoms Control Fight
A New York federal judge Tuesday sanctioned the majority shareholders of telecommunications infrastructure firm Continental Towers LATAM Holdings Ltd. for ignoring arbitral awards issued in a bitter, yearslong dispute over control of the company.
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April 22, 2025
FTX Ch. 11 Trust Says Ex-Exec's Wife Spent $600K Since Dec.
The FTX Recovery Trust urged a Delaware bankruptcy judge to enjoin the wife of former FTX executive Ryan Salame from spending additional money that the trust said was fraudulently taken from the company before its bankruptcy filing, saying Michelle Bond has spent more than $600,000 since mid-December on legal fees, luxury vacations and credit card bills.
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April 22, 2025
CFTC Wants Input On 24/7 Trading, Perpetual Contracts
The U.S. Commodity Futures Trading Commission is asking the public for feedback on how it should address the availability of 24-hour trading as well as so-called perpetual derivatives that are sometimes used to speculate on the price of cryptocurrencies.
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April 22, 2025
Ark. Offers Credit For 50% Of New Payroll For HQ Relocations
Arkansas created an income tax credit for businesses that relocate their corporate headquarters to the state equal to up to 50% of their payroll for qualifying employees under a bill signed by Gov. Sarah Huckabee Sanders.
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April 22, 2025
Venture Guides Clinches Second Fund With $262.5M In Tow
Cooley LLP-led Venture Guides, a venture capital firm that invests in early-stage infrastructure software companies, on Tuesday revealed that it clinched its second fund after securing $262.5 million of investor commitments.
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April 22, 2025
Chase Bank Can't Ditch Claims It Aided $119M Ponzi Scam
A California federal judge trimmed on Monday SiliconSage Builders LLC receiver's lawsuit accusing JPMorgan Chase of allegedly helping the now-defunct real estate developer carry out a massive $119 million Ponzi scheme, tossing an unjust enrichment claim, but allowing the bulk of the aiding-and-abetting allegations to survive.
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April 22, 2025
Nuclear Startup To Go Public Through $475M SPAC Deal
Nuclear startup Terra Innovatum said Tuesday it plans to go public at a valuation of $475 million by merging with special purpose acquisition company GSR III Acquisition Corp., joining several industry peers to go public through a SPAC deal.
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April 22, 2025
3 Firms Build $7B Moss Adams, Baker Tilly Merger
Advisory and tax giant Baker Tilly and accounting and wealth management firm Moss Adams LLP have announced plans to merge in a $7 billion deal built by three law firms, in a move the parties say will create the sixth-largest advisory CPA firm in the country.
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April 22, 2025
Parker-Hannifin Workers Asked For Input On 401(k) Fund Case
Parker-Hannifin Corp. employees were asked Monday to respond to a petition seeking U.S. Supreme Court review of their recently revived 401(k) plan mismanagement allegations.
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April 22, 2025
GCM Grosvenor Wraps $1.3B Infrastructure Advantage Fund
Private equity giant GCM Grosvenor on Tuesday announced that it successfully clinched its second infrastructure advantage fund after securing $1.3 billion of investor commitments.
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April 22, 2025
Mayer Brown, Kirkland Steer $10.6B Boeing Tech Asset Sale
Boeing said Tuesday it has agreed to sell portions of its digital aviation solutions business to software-focused private equity investor Thoma Bravo in a $10.55 billion all-cash transaction steered by Mayer Brown LLP and Kirkland & Ellis LLP.
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April 21, 2025
Trump Media Exec Seeks Penalties In 'Frivolous' Hacking Suit
A board director for President Donald Trump's social media company and his associate urged a Florida federal court to impose sanctions in a "frivolous" lawsuit alleging they hacked a cloud server to steal documents used to oust the former CEO, saying their accusers can't show what information was allegedly taken.
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April 21, 2025
Asset Manager Admits Stealing $3M From Real Estate Cos.
A Connecticut asset manager who helped clients buy and manage real estate portfolios has pled guilty to stealing nearly $3 million from entities in five states to fund his day trading endeavors, federal prosecutors announced Monday.
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April 21, 2025
YouTube's 'Nelk Boys' Want Suit Over NFTs Tossed
A pair of influencers behind the YouTube channel "Nelk Boys" asked a California federal judge to toss a lawsuit brought by a buyer of their crypto product who claimed the promised benefits never materialized, arguing the complaint does not show the defendants made any claims that have not or will not be fulfilled.
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April 21, 2025
Sports Exec, Cynosure Group Team Up For $1.2B Sports Fund
Private equity shop The Cynosure Group and Dave Checketts, the former owner of the NBA's Utah Jazz, on Monday unveiled a partnership that includes launching a new sports-focused private equity fund, with plans to target $1.2 billion in commitments.
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April 21, 2025
3 Firms Guide Brazilian Energy Producer's $155M SPAC Deal
Brazilian oil refiner PX Energy on Monday agreed to merge with special purpose acquisition company Papaya Growth Opportunity Corp. I in a deal that will take PX public in the United States at an estimated $155 million value, guided by three law firms.
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April 21, 2025
Electra Secures $115M In Funding For Ultra Short Aircraft
Aerospace company Electra.aero Inc. on Monday announced that it has clinched its Series B funding round after securing $115 million from investors, which will help the company enter its preproduction and certification phase of the "first-ever" Ultra Short aircraft.
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April 21, 2025
Navis Capital Partners Clinches $230M Next Generation Fund
Southeast Asian private equity shop Navis Capital Partners said Monday it wrapped its latest fund with $230 million in total commitments.
Expert Analysis
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5 Keys To Building Stronger Attorney-Client Relationships
Attorneys are often focused on being seen as the expert, but bonding with clients and prospects by sharing a few key personal details provides the basis for a caring, trusted and profoundly deeper business relationship, says Deb Feder at Feder Development.
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BlackRock Suit Highlights Antitrust Risks Of ESG
In Texas v. BlackRock, pending in Texas federal court, 13 state attorneys general are suing large institutional investors in the coal business, underscoring key reasons companies may want to alter their approach to developing and implementing policies related to environmental, social, and governance factors, especially if coordination with competitors is involved, say attorneys at Manatt.
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Suggestions For CFTC Enforcement's New Leadership
The recent change in leadership at the U.S. Commodity Futures Trading Commission presents an opportunity to reflect on past practices and consider opportunities for improvement at the commission's Enforcement Division, including in observing precedent and providing greater enforcement transparency, say attorneys at Clifford Chance.
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Series
Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Opinion
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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A Closer Look At FDX's New Role As Banking Standard-Setter
Should the new Consumer Financial Protection Bureau let stand the decision empowering Financial Data Exchange as an industry standard-setter, it will be a significant step toward broader financial data-sharing, but its success will depend on industry adoption, regulatory oversight and consumer confidence, say attorneys at Clark Hill.
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Partially Faulting Airline For 401(k) ESG Focus Belies ERISA
A Texas federal court's recent finding that American Airlines breached its fiduciary duty of loyalty, but not of prudence, by letting its 401(k) pursue environmental, social and governance investments, misinterprets the Employee Retirement Income Security Act's standard of care, says Jeff Mamorsky, a Cohen & Buckmann partner and ERISA drafter.
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Fund Names Rule FAQs Leave Some Interpretative Uncertainty
Although recently released FAQs clarify many specific points of the 2023 expansion to the Investment Company Act's fund names rule, important questions remain about how U.S. Securities and Exchange Commission staff will interpret other key terms when the end-of-year compliance date arrives, say attorneys at Dechert.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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5 Major Crypto Developments From The Trump Admin So Far
The early weeks of the Trump administration have set the stage for a significant transformation in U.S. digital asset policy by prioritizing regulatory clarity, innovation and a shift away from enforcement-heavy tactics, but many of these changes will require congressional support and progress may be gradual, say attorneys at Ropes & Gray.
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Class Actions At The Circuit Courts: February Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses five federal appellate court class certification decisions and identifies practice tips from cases involving breach of life insurance contracts, constitutional violations of inmates and more.
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Comparing 2 Pending Bills To Regulate Stablecoins
Alexandra Steinberg Barrage at Troutman analyzes the key similarities and differences between two payment stablecoin proposals currently pending in Congress — the STABLE and GENIUS acts — as both chambers are forming a working group to deliver a clear regulatory framework for digital assets and bipartisan agreement appears within reach.
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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Year Of The Snake Will Shake Up RE And Mortgage Finance
The year ahead may bring profound transformation and opportunities for growth in the real estate and mortgage finance sectors, with significant issues including policy battles and questions surrounding the future of Fannie Mae and Freddie Mac, says Marty Green at Polunsky Beitel.