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Asset Management
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May 05, 2025
Crypto Miner Objects To Celsius Sanctions Try In Ch. 11 Case
Crypto mining company Mawson Infrastructure Group Inc. asked a Delaware bankruptcy judge to throw out an attempt by Celsius Network to impose sanctions on Mawson in the company's involuntary Chapter 11 case, saying its failed bid to extend an automatic stay to its subsidiaries was performed in good faith.
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May 05, 2025
Clifford Chance Adds Paul Weiss Exec Compensation Atty In NY
Clifford Chance LLP has added a Paul Weiss Rifkind Wharton & Garrison LLP transactional attorney in New York as co-chair of its U.S. executive compensation practice, the firm announced Monday.
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May 05, 2025
Skechers Inks $9.4B Take-Private Deal Guided By 3 Firms
Private equity firm 3G Capital will take footwear giant Skechers private for $9.4 billion in a deal guided by three law firms amid an ongoing trade war that has rattled retailers, the parties announced Monday.
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May 05, 2025
5 Firms Pilot Pershing Square's $900M Howard Hughes Deal
Hedge fund Pershing Square will grow its ownership stake in Howard Hughes Holdings and expand the company's business lines beyond real estate development in a $900 million deal put together by five law firms, the companies said Monday.
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May 05, 2025
Retirement Co. Settles 401(k) Fee Suit After $38.8M Verdict
A retirement services company agreed to resolve a class action claiming it loaded a multiemployer 401(k) plan with exorbitant administrative fees, according to a New York federal court filing, less than two weeks after a jury said the company should pay the 27,000-member class $38.8 million.
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May 05, 2025
Hotel Management Co. Exits Pension Fund Withdrawal Battle
A company tapped to manage a hotel at the center of a $1.1 million withdrawal liability lawsuit between the City of San Jose and a UNITE HERE pension fund has reached a deal with the plan to exit the case, according to a California federal court filing.
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May 02, 2025
Head Of 'Mother Teresa' Ponzi Scheme Owes SEC $4.1M
A self-styled "Mother Teresa" serving a 20-year prison sentence for wire fraud conspiracy in a $194.1 million Ponzi scheme is liable for $4.1 million in connection with U.S. Securities and Exchange Commission fraud claims, though that debt is satisfied by the $186 million forfeiture order in her federal criminal case, a Florida federal judge has determined.
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May 02, 2025
Gores Group's Latest SPAC Leads 3 IPOs Totaling $792M
Gores Holdings X Inc., the latest of several special purpose acquisition companies formed by private equity firm The Gores Group, began trading Friday after pricing an upsized $312 million IPO, the largest of three new SPAC listings totaling $792 million.
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May 02, 2025
Texas-Led AGs Defend BlackRock Coal Investments Suit
A coalition of Republican states led by Texas are arguing that BlackRock Inc.'s public commitments to reducing its carbon footprint are evidence that it and two other leading asset managers teamed up to suppress the production of coal in the United States, asking a federal judge not to dismiss their case against the firms.
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May 02, 2025
FinCEN Wants Banks To Monitor For Cartel Oil Smuggling
The U.S. Treasury's enforcement unit has alerted U.S. financial institutions to watch for Mexican cartels smuggling stolen crude oil across the southwest border and into the U.S., saying fuel theft "has become the most significant non-drug illicit revenue source for the cartels."
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May 02, 2025
Trade War Spurs Companies To Freshen Disclosure Playbooks
Against the backdrop of a protracted trade war that has rattled investors, companies are honing their securities filings and public communications strategies, posing fresh challenges for corporations and their lawyers, who are otherwise accustomed to navigating global disruptions.
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May 02, 2025
3 Argument Sessions Benefits Attys Should Watch In May
The Eleventh Circuit will hear arguments from former seafood company workers who say they were overcharged when they purchased their employer’s stock, while the Sixth Circuit tackles appeals from Kellogg and FedEx retirees who say they were shorted on benefits because of outdated mortality data. Here’s three arguments to keep an eye on in May.
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May 02, 2025
Debevoise Guides Ara Partners On $800M Low-Carbon Fund
Ara Partners has raised more than $800 million for its first infrastructure fund, aimed at cutting carbon emissions from the industrial economy, with legal guidance from Debevoise & Plimpton LLP.
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May 02, 2025
DC Circ. Seems Unconvinced That Proxy Firms 'Solicit'
An industry group's bid to revive a U.S. Securities and Exchange Commission rule regulating proxy advisory firms seemed to meet a skeptical D.C. Circuit panel on Friday, as the judges questioned whether those firms "solicit" proxy votes.
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May 02, 2025
Off The Bench: DC Stadium, BetMGM Victory, Transfer Rules
In this week's Off The Bench, the Washington Commanders strike a deal to build a new stadium in D.C., BetMGM fends off a consumer fraud suit targeting its gambling promotion efforts and a Rutgers University football player scores another win against the NCAA's transfer rules.
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May 02, 2025
Taxation With Representation: Goodwin, Haynes Boone
In this week's Taxation With Representation, Merck buys SpringWorks Therapeutics, Novartis AG acquires Regulus Therapeutics Inc., Sabre Corp. sells its Hospitality Solutions business to private equity shop TPG, and TWG Global and Mubadala Capital team up to bolster their investments.
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May 01, 2025
FTC, Nevada Accuse Trading Training Biz Of $1.2B Scam
The Federal Trade Commission and Nevada on Thursday filed suit in federal court against an investment training company they alleged scammed more than $1.2 billion out of consumers, mostly young adults, by selling trading courses taught by "bogus" instructors and encouraging consumers to participate in a multi-level marketing scheme.
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May 01, 2025
Claims Against Attys In $2.6B Casino Merger Row Get Tossed
A Manhattan federal judge on Thursday permanently ended claims a real estate investor in a botched $2.6 billion Philippine casino deal brought against attorneys from Sadis & Goldberg LLP, finding that claims that they allowed a fraud to unfold and breached their fiduciary duties were too vague.
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May 01, 2025
Death Bond Fund Manager Inflated Asset Values, Suit Says
An Illinois fund that invests in life insurance policies has been hit with securities fraud, breach of fiduciary duty and several other claims in a suit seeking at least $50 million that alleges it manipulated the value of illiquid assets to collect inflated fees from investors.
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May 01, 2025
2 Firms To Co-Lead Block Investor Suit Over Cash App
Cohen Milstein Sellers & Toll PLLC and Lieff Cabraser Heimann & Bernstein LLP will represent a proposed class of investors in a suit alleging Jack Dorsey's fintech company Block Inc. created a "haven for criminal and illicit activities" on its Cash App and Square payment platforms despite touting its anti-money laundering protocols.
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May 01, 2025
FINRA Fines Interactive Brokers Over Complaint Reporting
The Financial Industry Regulatory Authority announced online broker-dealer Interactive Brokers LLC will pay $400,0000 to settle claims it failed to report regulatory complaints and customer grievances regarding the functionality of its virtual platform to FINRA over an 11-year period.
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May 01, 2025
Apollo Raises $8.5B For Credit Strategy, Including $4.8B Fund
Private equity giant Apollo, advised by Paul Weiss Rifkind Wharton & Garrison LLP, on Thursday said that it closed on $8.5 billion in total commitments for its Accord+ strategy, including a $4.8 billion fund.
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May 01, 2025
FinCEN Targets Cambodian Firm As Crypto Money Launderer
The U.S. Department of the Treasury's financial crimes watchdog on Thursday called out Cambodia-based Huione Group as a primary money laundering concern and proposed to "sever its access to the U.S. financial system" due to its alleged laundering of $4 billion worth of crypto scam and other illicit proceeds.
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May 01, 2025
CFPB, Lenders Float Deal To Vacate Medical Debt Rule
The Consumer Financial Protection Bureau has agreed to a proposed consent judgment that would vacate a Biden-era rule banning an estimated $49 billion in medical debt from credit reports, striking a deal with lender trade groups that sued in Texas federal court to block the rule.
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May 01, 2025
Crypto Influencer Launches SPAC As 2 Acquirers Tap Market
A special purpose acquisition company led by crypto influencer Anthony Pompliano and advised by Reed Smith LLP has filed for an initial public offering to raise $200 million, while two other blank-check companies eyeing the fintech and tech sectors have raised more than $400 million combined.
Expert Analysis
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Predicting What's Next For SEC By Looking At Past Dissents
While Paul Atkins' nomination to be the next chair of the U.S. Securities and Exchange Commission has taken center stage, an analysis of Republican Commissioners Hester Peirce and Mark Uyeda's past votes and dissents provides a preview of where enforcement may shift in the new administration, say attorneys at Gibson Dunn.
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
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What 2024's Noncompete Turmoil Means For Banks In 2025
A look back at the most significant legal challenges to the enforceability of various restrictive covenants like noncompete and nonsolicitation agreements in 2024 can help financial institutions address the use of these critical tools this year, say attorneys at Maynard Nexsen.
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New Year, New Risks: 8 Top Cyber Issues For Finance In 2025
As financial institutions forge ahead in 2025, they must strike a delicate balance between embracing technological innovation and guarding against its darker threats, which this year could include everything from supply chain vulnerabilities to deepfakes, say attorneys at Baker Donelson.
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8 Trends And Predictions Following PE's Late 2024 Surge
Private equity will remain at the forefront of value creation in 2025, and anticipated market trends include sponsors' desire to return capital to investors and a more business-friendly tack by the Antitrust Division of the U.S. Department of Justice, say attorneys at Weil.
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Series
Playing Esports Makes Me A Better Lawyer
Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.
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The Securities Litigation Trends That Will Matter Most In 2025
2025 is shaping up to be a significant year for securities litigation, as plaintiffs and defendants alike navigate shifting standards for omission theories of liability, class certification, risk disclosure claims and more, say attorneys at Willkie.
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An Associate's Guide To Career Development In 2025
As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.
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What To Watch For In The 2025 Benefits Landscape
While planning for 2025, retirement plan sponsors and service providers should set their focus on phased implementation deadlines under both Secure 1.0 and 2.0, an upcoming U.S. Supreme Court ruling, and the fate of several U.S. Department of Labor regulations, says Allie Itami at Lathrop GPM.
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How White Collar Enforcement May Shift In Trump's 2nd Term
After President-elect Donald Trump returns to the White House next month, the administration’s emphasis on immigration laws, drug offenses and violent crime will likely reduce the focus on white collar crime overall, but certain areas within the white collar world may see increased activity, say attorneys at Keker Van Nest.
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The Justices' Securities Rulings, Dismissals That Defined '24
The U.S. Supreme Court's 2024 securities rulings led to increased success for defendants' price impact arguments, but the justices' decisions not to weigh in on important issues relating to the Private Securities Litigation Reform Act's pleading requirements may be just as significant, say attorneys at Skadden.
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10 Noteworthy CFPB Developments From 2024
In a banner year for consumer finance regulation, the Consumer Financial Protection Bureau made significant strides in its efforts to rein in Big Tech and nonbank financial firms, including via rules regarding open banking, credit card late fees, and buy now, pay later products, say attorneys at Wiley.
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Series
Fixing Up Cars Makes Me A Better Lawyer
From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.
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2024 Has Been A Momentous Year For ESG
Significant developments in the environmental, social and governance landscape this year include new legislation, evolving global frameworks, continued litigation and enforcement actions, and a U.S. Supreme Court decision that has already affected how lower courts have viewed some ESG challenges, say attorneys at Katten.
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Making The Pitch To Grow Your Company's Legal Team
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.