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Asset Management
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April 09, 2025
Senate Confirms Trump Pick Atkins To Lead A Leaner SEC
The U.S. Senate on Wednesday confirmed Paul Atkins to be the next chair of the U.S. Securities and Exchange Commission, clearing the way for an agency veteran and regulatory critic who is expected to slow the SEC's enforcement agenda and pursue smaller corporate penalties at a time when the agency is grappling with staff cuts and market turmoil.
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April 09, 2025
Chancery Lets Paramount Investors Probe Skydance Deal
Delaware's top Chancery magistrate said Wednesday that Paramount Global stockholders probing the company's proposed $8 billion Skydance Media merger can have access to dozens of documents, but kept sealed further details in a transcript of a hearing closed to the public for at least five additional days.
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April 09, 2025
2nd Circ. Doubtful Of Push To Thaw Assets For Debt Relief Biz
A Second Circuit panel seemed unconvinced Wednesday by a debt relief network's argument that the rule federal and state enforcers invoked to shut it down didn't apply because the targeted business practices included in-person interactions, with two judges noting that the home visits followed phone conversations where the actual selling was likely made.
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April 09, 2025
Self-Driving Car Tech Co. Valued At $6B After Series E Round
Autonomous driving technology company Nuro Inc. on Wednesday revealed that it achieved a $6 billion valuation after completing its latest fundraising round with $106 million in tow.
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April 09, 2025
White & Case-Led EQT Inks Nearly $3B Health Deal With KKR
KKR & Co. has agreed to acquire Sweden's Karo Healthcare from EQT, marking the handover of a company that has quadrupled in sales over the past five years, the companies said Wednesday, in a deal worth up to a reported 2.6 billion euros ($2.85 billion).
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April 09, 2025
Ill. Real Estate Broker Gets 4 Years For $3M Investment Scam
A Chicago real estate broker has been sentenced to more than four years in prison after pleading guilty last year to allegations he duped clients into investing millions of dollars in properties that did not exist and then used the investors' funds for personal expenses, federal prosecutors announced Wednesday.
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April 09, 2025
Winston & Strawn Leads Fintech-Focused SPAC's $240M IPO
Special purpose acquisition company Titan Acquisition Corp. began trading Wednesday after pricing a $240 million initial public offering in pursuit of a merger with a fintech or related business, represented by Winston & Strawn LLP and underwriters' counsel Ellenoff Grossman & Schole LLP.
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April 09, 2025
Fraudster Says Sentencing Judge Overlooked Harsh Detention
A California man convicted in a $2 million investment fraud scheme asked the Fourth Circuit Wednesday to overturn his 70-month prison sentence, arguing that a North Carolina federal judge wrongly denied his request for a shorter term based on time he spent in harsh overseas detention.
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April 09, 2025
Connell Foley Survives Investment Firm's DQ Bid In Bias Suit
A federal judge in New Jersey has rejected a Black-owned investment company's request to disqualify a Connell Foley LLP attorney from representing the state in the investment firm's bias case, reasoning that there is nothing showing the law firm or the lawyer previously represented the company.
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April 09, 2025
Ancora Drops US Steel Pursuit After Trump Flags Nippon Deal
Ancora Holdings Group said Wednesday it is withdrawing its slate of director candidates for U.S. Steel's upcoming annual meeting, citing "apparent momentum" for the $14.9 billion acquisition by Japan's Nippon Steel after President Donald Trump announced a fresh national security review of the deal Monday.
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April 08, 2025
Crypto Investor Sues In Del. Alleging $16M Pump, Dump Loss
Cayman Islands-registered cryptocurrency venture Hash Asset Management Ltd. sued two other crypto entities and four individuals in Delaware's Court of Chancery on Tuesday, alleging a "pump and dump" scheme that saw more than $16 million allegedly siphoned away in violation of token deposit and lending agreements.
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April 08, 2025
SEC's Uyeda Urges Review Of Federal-State Oversight Splits
The acting chairman of the U.S. Securities and Exchange Commission on Tuesday called for a reevaluation of the threshold that divides federal and state oversight of investment advisers, saying he wants to better conserve SEC and taxpayer resources by focusing on the largest advisers.
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April 08, 2025
Fla. Judge Orders Depos In Ex-Rep's Venezuela Lobbying Suit
A Florida state court judge Tuesday ordered parties to depose each other in a lawsuit brought by a former U.S. representative accused of unlawfully lobbying on behalf of Venezuela, denying a request to quash a deposition of a prior business associate who's believed to be helping the federal government.
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April 08, 2025
German Pharma Giant Stada Pauses IPO As Volatility Endures
Private equity-backed German pharmaceutical company Stada is halting its initial public offering amid market volatility, joining several U.S. companies that are pausing plans while they assess the fallout from President Donald Trump's tariff policy.
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April 08, 2025
Compliance Chief Wants Out Of SEC Fraud Suit
The chief compliance officer and general counsel of a wealth management firm has urged an Illinois federal judge to dismiss him from a U.S. Securities and Exchange Commission suit over an alleged offering fraud by former representatives at his firm, saying "the commission does not even understand what its own pleading burden in this case is."
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April 08, 2025
Fla. Cloud Co. Accuses Ex-Board Member Of SPAC Fraud
A Florida cloud storage business has accused a former board member of securities fraud in federal court, alleging that a side agreement splitting a finder's fee with an unregistered broker he introduced for a merger deal wasn't disclosed, and now the company faces shutdown if an asset sale isn't halted.
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April 08, 2025
Bernstein Litowitz, Kessler Topaz Seek To Lead GSK Investors
Bernstein Litowitz Berger & Grossmann LLP and Kessler Topaz Meltzer & Check LLP are seeking lead counsel roles in a proposed securities class action against GSK PLC in Pennsylvania federal court, citing a long history of collaboration and billions recovered for shareholders.
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April 08, 2025
Amedisys Gets Merger Filing Claim Paused In DOJ's UHG Suit
A Maryland federal judge has hit pause on part of the Justice Department lawsuit challenging UnitedHealth's $3.3 billion acquisition of home health and hospice company Amedisys, preferring to handle the merger challenge first and only then turn to allegations that Amedisys shirked its merger filing requirements.
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April 08, 2025
Sidley-Led Excelsior Wraps 2nd Energy Fund With $1B In Tow
Sidley Austin LLP-advised Excelsior Energy Capital on Tuesday announced it had clinched its second energy investment fund after securing just over $1 billion from investors.
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April 07, 2025
Wage Access Co. Says NY AG Threatened Suit, Seeks Relief
Earned-wage access provider DailyPay sued Letitia James on Monday seeking a declaratory judgment that its payments do not constitute loans under New York law or violate federal and state laws, alleging the state attorney general has effectively declared all such products illegal.
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April 07, 2025
Fintech Customers Sue Banks Over Synapse Collapse
Evolve Bank & Trust and Lineage Bank were hit with a consumer's proposed class action in Tennessee federal court accusing them of mismanaging their relationships with Synapse Financial, a now-bankrupt middleware fintech service that the suit says caused customers to lose $85 million.
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April 07, 2025
Trump Reopens Security Review Of US Steel-Nippon Deal
President Donald Trump on Monday ordered a fresh national security review of Nippon Steel's proposed $14.9 billion takeover of U.S. Steel, reviving a deal blocked by his predecessor and giving the companies some of the relief they sought in court.
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April 07, 2025
SEC Drops Suit Against Silver Point Over Atty Info Access
The U.S. Securities and Exchange Commission has dropped a Connecticut federal lawsuit alleging Silver Point Capital LP failed to establish policies to safeguard material nonpublic information, particularly from a former BigLaw attorney who acted as outside counsel, according to federal court records.
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April 07, 2025
Gibson Dunn-Led Andros Clinches 3rd Energy Fund At $1B
Gibson Dunn & Crutcher LLP-led Andros Capital Partners LLC said Monday that it closed its third fund at its hard cap after securing $1 billion of investor commitments.
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April 04, 2025
IPO Plans Appear Iced As Trump's Tariffs Rock Markets
The escalating sell-off in equities is halting major initial public offerings for now and more prospects will likely pause plans as deals lawyers and their clients assess the fallout following President Donald Trump's endorsement of across-the-board tariffs, experts say.
Expert Analysis
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How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
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Short-Seller Implications Of 10th Circ.'s Overstock Decision
The Tenth Circuit's Oct. 15 decision in Overstock Securities Litigation provides clarity on the pleading standard for a market manipulation claim under the Exchange Act, and suggests that short sellers might not be able to rely on the fraud-on-the-market presumption typically invoked by securities plaintiffs, say attorneys at Paul Weiss.
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
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The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
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Don't Phone A Friend: Disclosing Friendships With Executives
The U.S. Securities and Exchange Commission's recent settlement against a former Church & Dwight chairman for violating proxy disclosure rules by neglecting to disclose his friendship with an executive officer amid a CEO search illustrates the perils of relying solely on responses to questionnaires circulated to boards, say attorneys at BCLP.
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Why Diversity Jurisdiction Poses Investment Fund Hurdles
Federal courts' continued application of the exacting rules of diversity jurisdiction presents particular challenges for investment funds, and in the absence of any near-term reform, those who manage such funds should take action to avoid diversity jurisdiction pitfalls, say attorneys at Sher Tremonte.
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The Ups And Downs Of SEC's Now-Dissolved ESG Task Force
The U.S. Securities and Exchange Commission's Climate and ESG Enforcement Task Force, which was quietly disbanded sometime over the summer, was marked by three years of resistance from some stakeholders to ESG regulation, a mixed record in the courts and several successful enforcement actions, say attorneys at Crowell & Moring.
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Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
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Anticipating Jarkesy's Effect On Bank Agency Enforcement
Following the U.S. Supreme Court’s decision in U.S. Securities and Exchange Commission v. Jarkesy, federal courts may eventually issue decisions on banking law principles and processes that could fundamentally alter the agencies' enforcement action framework, and the relationship between banks and examiners, says Brendan Clegg at Luse Gorman.
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CFTC Anti-Fraud Blitz Is A Warning To Carbon Credit Sellers
With its recent enforcement actions against a carbon offset project developer and its senior executives for reporting false information about the energy savings of the company's projects, the Commodity Futures Trading Commission is staking out its position as a primary regulator in the voluntary carbon credit market, say attorneys at Morgan Lewis.
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Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
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Peeling Back The Layers Of SEC's Equity Trading Reforms
The U.S. Securities and Exchange Commission's recently adopted amendments lowering the tick sizes for stock trading and reducing access fee caps will benefit investors and necessitate broad systems changes — if they can first survive judicial challenges, say attorneys at Sidley.
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
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Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.