Asset Management

  • November 19, 2024

    Dentons Atty Owed No Duty In $54M Currency Swap, Jury Told

    A Hunton Andrews Kurth LLP partner on Tuesday defended the actions of a former Dentons attorney in a failed $54 million bolivar-to-dollars currency swap, telling jurors that she did not owe a duty to the Venezuelan attorney suing her for malpractice because she never represented him as his attorney. 

  • November 19, 2024

    Graham Capital Sues To Stop Ex-Exec's Return To Competitor

    Graham Capital Management LP, a Connecticut investment firm with more than $19 billion in assets under management, is asking a Connecticut state trial court judge to block a former managing director from working in California for a competitor that previously employed him in Connecticut for 11 years.

  • November 19, 2024

    No Venue Change For Baseball Team Sale Clash

    A company accused of stiffing a baseball travel team operator for $1.3 million from the purported purchase of his organization had its bid to move the case to Nebraska rejected by a Texas federal judge.

  • November 19, 2024

    Cravath-Led Robinhood To Acquire TradePMR In $300M Deal

    Stock trading app Robinhood Markets Inc., advised by Cravath Swaine & Moore LLP, on Tuesday announced plans to buy registered investment adviser-focused custodial and portfolio management platform TradePMR, led by Stradley Ronon Stevens & Young LLP, in a cash-and-stock deal valued at $300 million.

  • November 18, 2024

    Fringe Benefits Co.'s Ex-Atty Can't 'Abandon' Them, DOL Says

    The U.S. Department of Labor on Monday urged a Maryland federal court not to let a fringe benefits company's former attorney "abandon" the company ahead of a civil contempt hearing over $3.8 million in unpaid mismanaged funds meant for government contractor employees' benefits, citing potentially "severe" consequences for the company.

  • November 18, 2024

    Industry Group Wants Trump-Era SEC Proxy Rules Reinstated

    The National Association of Manufacturers has urged the D.C. Circuit to reverse a ruling that struck down a U.S. Securities and Exchange Commission regulation on proxy voting, arguing the ruling severely limits the agency's regulatory power without any statutory backing.

  • November 18, 2024

    J&J Posts $1.17B Bond For Del. Merger Milestone Appeal

    Johnson & Johnson Inc. has posted a $1.167 billion surety-backed bond ahead of its planned appeal challenging a Delaware Chancery Court's finding that it owes more than $1 billion to a medical robotics developer's former shareholders caught up in a post-acquisition dispute.

  • November 18, 2024

    Mutual Fund Manager Owes SEC, CFTC $11M After Trial

    A Wisconsin federal judge has ordered the operator of a mutual fund to pay more than $11 million to the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission after being found liable by a jury of making untrue statements and breaching his fiduciary duty to investors.

  • November 18, 2024

    StraightPath Execs Must Face $386M IPO Fraud Charges

    A New York federal judge denied a bid Monday by three principals of Florida-based private equity firm StraightPath Venture Partners to dismiss an indictment accusing them of raising $386 million by defrauding over 2,000 investors through false promises about purchases of pre-IPO shares in private companies.

  • November 18, 2024

    Latham-Led Software Startup ServiceTitan Joins IPO Pipeline

    Venture-backed software startup ServiceTitan Inc. filed plans on Monday for an initial public offering, represented by Latham & Watkins LLP and underwriters' counsel Wilson Sonsini Goodrich & Rosati PC, joining a growing list of IPO prospects.

  • November 18, 2024

    Chancery Orders Paybacks In Decade-Old Lease Co. Suit

    Former directors of a global temporary housing business that served corporations worldwide must repay indemnification payouts under a multipart Court of Chancery ruling on a suit originally brought in 2014 alleging breaches of a shareholder agreement and fiduciary duty.

  • November 18, 2024

    Bain Capital Lands $5.7B For Global Special Situations Fund

    Private equity giant Bain Capital, advised by Ropes & Gray LLP, on Monday announced that it finished fundraising for its second global special situations fund after securing $5.7 billion from investors.

  • November 18, 2024

    Wachtell-Led CVS Adds Glenview CEO, Others To Board

    CVS Health, represented by Wachtell Lipton Rosen & Katz, said Monday it has struck a deal with activist investor Glenview Capital Management to appoint four new board members, including Glenview CEO Larry Robbins. 

  • November 18, 2024

    Bechtel Retiree Seeks Class Status In 401(k) Fee Suit

    A Bechtel Global Corp. retiree asked a Virginia federal judge to let her represent 7,000 retirement plan participants in her suit claiming the engineering company overcharged its $5.7 billion plan by tapping a pricey default investment option.

  • November 18, 2024

    Comtech Agrees To Board Shake-Up With Ex-CEOs

    Comtech Telecommunications Corp. said Monday it has reached an "amicable resolution" with an investor group that includes two former CEOs who had sought a board shake-up, agreeing to the appointment of two new directors and the withdrawal of the CEOs' proposed full slate of directors.

  • November 18, 2024

    Silver Point Clinches 3rd Credit Fund With $8.5B In Tow

    Connecticut-based credit investing firm Silver Point Capital on Monday announced that it closed its latest credit fund with more than $8.5 billion in tow.

  • November 15, 2024

    Trump's SDNY Pick A Familiar Face In Wall Street's Legal Wing

    Jay Clayton's nomination to be the Manhattan U.S. attorney would seat a highly regarded Wall Street lawyer in one of the top law enforcement jobs in the country, but he may face headwinds over his industry relationships and lack of criminal prosecution experience.

  • November 15, 2024

    Venezuelan Lawyer Relied On Ex-Dentons Atty In $54M Swap

    A Venezuelan lawyer suing Dentons over a failed $54 million bolivar-to-dollars currency swap admitted Friday on the stand that he did not do any due diligence for the transaction but instead relied on what he called misinformation from an ex-Dentons attorney that she relayed to his representative.

  • November 15, 2024

    3rd Circ. Won't Rehear Moroccan Hotel Fight Over $60M Award

    The Third Circuit has declined to rethink its decision reviving a dispute over the enforcement of a $60 million arbitral award favoring the current owner of a luxury hotel in Casablanca, despite an investment group's claims that the ruling is unprecedented and disregards well-established Delaware law.

  • November 15, 2024

    SEC Says Risky Bond Recommendations Violated Reg BI

    A Texas-headquartered broker-dealer has agreed to pay nearly $154,000 to resolve U.S. Securities and Exchange Commission allegations that it improperly recommended risky bonds in violation of the federal investor protection measure known as Regulation Best Interest.

  • November 15, 2024

    SEC's Top Cop Says Election Hasn't Slowed Enforcers Down

    The U.S. Securities and Exchange Commission's enforcement attorneys continue to work with "urgency" in the waning months of the Biden administration, the acting leader of the enforcement division said Friday at an event where he also spoke about a shuttered task force and the agency's approach to pursuing cases involving cybersecurity breaches.

  • November 15, 2024

    Hedge Fund Group Urges Trump To Reject 'Punitive' Policies

    A leading industry group representing hedge funds and other alternative asset managers is urging President-elect Donald Trump to abandon "punitive" economic policies and instead propose tax and regulatory relief, including business-friendly priorities at the U.S. Securities and Exchange Commission.

  • November 15, 2024

    Tenneco Asks Justices To Review 6th Circ. Arbitration Denial

    Automotive parts company Tenneco asked the U.S. Supreme Court on Friday to review a Sixth Circuit decision from August that refused to force individual arbitration of a proposed class action from workers alleging retirement plan mismanagement, arguing lower courts had disagreed on how to apply federal arbitration law.

  • November 15, 2024

    Chinese Self-Driving Startup Pony Revs Up $180M IPO

    Chinese autonomous-driver technology provider Pony AI Inc. has launched plans for an estimated $180 million initial public offering, represented by Davis Polk & Wardwell LLP and underwriters' counsel Cleary Gottlieb Steen & Hamilton LLP, marking the latest self-driving startup to seek U.S. capital in order to fund its growth ambitions.

  • November 15, 2024

    MVP: Weil's Stephanie E. Srulowitz

    Stephanie E. Srulowitz of Weil Gotshal & Manges LLP's U.S. private funds practice led real estate investment firm Crow Holdings Capital Partners in raising a $3.1 billion Fund X, guided Lee Equity Partners to close an oversubscribed $1.3 billion Fund IV and shepherded Graycliff Partners in a $600 million fundraise push, earning her a spot as one of the 2024 Law360 Fund Formation MVPs.

Expert Analysis

  • Series

    Home Canning Makes Me A Better Lawyer

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    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.

  • How Project 2025 Could Upend Federal ESG Policies

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    If implemented, Project 2025, the Heritage Foundation's policy playbook for a Republican presidential administration, would likely seek to deploy antitrust law to target ESG initiatives, limit pension fund managers' focus to pecuniary factors and spell doom for the U.S. Securities and Exchange Commission's climate rule, say attorneys at Mintz.

  • Opinion

    FDIC's Foray Into Index Fund Rules Risks Regulatory Chaos

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    A proposed Federal Deposit Insurance Corp. rule concerning control over passive index fund investments in banks is outside the agency's remit, clashes with an existing Federal Reserve process and would inhibit competition in the index fund sector, says J.W. Verret at George Mason University.

  • Use The Right Kind Of Feedback To Help Gen Z Attorneys

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    Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.

  • Opinion

    Congress Can And Must Enact A Supreme Court Ethics Code

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    As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.

  • What To Make Of Dueling Corporate Transparency Act Rulings

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    Although challenges to the Corporate Transparency Act abound — as highlighted by recent federal court decisions from Alabama and Oregon taking opposite positions on its constitutionality — the act is still law, so companies should comply with their filing requirements or face the potential consequences, say attorneys at Lowenstein Sandler.

  • Series

    The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan

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    Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.

  • To Report Or Not To Report Others' Export Control Violations

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    A recent Bureau of Industry and Security enforcement policy change grants cooperation credit to those that report violations of the Export Administration Regulations committed by others, but the benefits of doing so must be weighed against significant drawbacks, including the costs of preparing and submitting a report, says Megan Lew at Cravath.

  • What FDIC Expansion Of Change In Bank Control Could Mean

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    A recent Federal Deposit Insurance Corp. proposal pertaining to the Change in Bank Control Act has the potential to create uncertainty around investments by mutual fund complexes in banking organizations, which represent a stable source of capital for the banking industry, say attorneys at Sullivan & Cromwell.

  • State Of The States' AI Legal Ethics Landscape

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    Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.

  • How BIS' Rule Seeks To Encourage More Voluntary Disclosure

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    Updated incentives, penalties and enforcement resources in the Bureau of Industry and Security's recently published final rule revising the Export Administration Regulations should help companies decide how to implement export control compliance programs and whether to disclose possible violations, say attorneys at Freshfields.

  • Making Sure Your Co. Isn't In The Next Section 13(f) Sweep

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    Enforcement actions taken against 11 institutional investment managers for alleged failures to file forms required by Section 13(f) of the Securities Exchange Act serve as a reminder that firms should carefully monitor their obligations to avoid becoming the target of the next enforcement sweep, say attorneys at Ropes & Gray.

  • 8 Childhood Lessons That Can Help You Be A Better Attorney

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    A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.

  • Opinion

    This Election, We Need To Talk About Court Process

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    In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.

  • Series

    Playing Diplomacy Makes Us Better Lawyers

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    Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.

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