Asset Management

  • November 25, 2022

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen the SFO bring legal action against a Lebanese bank with alleged ties to Hezbollah, a Mancunian Blockbuster-themed cocktail bar sued by the video rental shop for copyright infringement, and IGT hoping for the luck of the draw in a fresh procurement claim against the Gambling Commission. Here, Law360 looks at these and other new claims in the U.K.

  • November 23, 2022

    Investor Sues Lakeland Over 'Super-Community Bank' Plan

    Lakeland Bancorp Inc. and its board face investor claims they failed to tell shareholders key financial details about the company's proposed $1.3 billion merger with Provident Financial Services Inc. as they sought support for the deal.

  • November 23, 2022

    Mapping Out VLSI-Intel's Sprawling Patent War

    VLSI Technology has won more than $3 billion in patent infringement verdicts against Intel Corp. in a Texas federal court so far, but those victories account for just a portion of their cross-country and international feud over chip patents. Here, Law360 takes a closer look at the global litigation and lays out the fights in each forum.

  • November 23, 2022

    FTX Pledges Better Books, Celsius Faulted For Asset Mingling

    The new leadership of FTX promised to keep better track of its assets, Celsius Network's leadership was faulted for not keeping better track of its assets, and the U.S. Supreme Court passed on an appeal of changes to Puerto Rican teachers' pensions. This is the week in bankruptcy.

  • November 23, 2022

    The Rise And Fall Of FTX: Timeline Of The Collapse

    In less than four years, cryptocurrency exchange FTX Trading Ltd. went from fintech infancy to a $32 billion valuation before the financial house of cards founder Sam Bankman-Fried built came crashing down. The collapse was rapid and stunning, playing out over 10 days in November 2022 and ending with multiple insolvency cases being filed in three jurisdictions.

  • November 23, 2022

    4 Takeaways From DOL's Socially Conscious Investing Rule

    The U.S. Department of Labor's new regulations — intended to allay retirement plans' fears about considering environmental, social and governance factors such as climate change in their investment decisions — will remove some wariness about factoring in ESG. Here, Law360 looks at four takeaways from the DOL's now-final rule.

  • November 23, 2022

    TPLC Sues To Uphold Deal With Investors After Proxy Fight

    One of Texas' biggest landowners, Texas Pacific Land Corporation, has sued an investor group led by New York-based Horizon Kinetics that split with the company at its annual meeting in opposing a move to expand the number of shares of company stock.

  • November 23, 2022

    Feds Falsely Brand Tornado Cash A Security Risk, Suit Says

    Six cryptocurrency users who are suing the U.S. Department of the Treasury over its sanctioning of an open-source privacy software say officials recently removed Tornado Cash from the list of entities that threaten national security, then improperly relisted it as one that supports North Korea's repressive regime.

  • November 23, 2022

    4 Firms Vie To Lead Suit Against Barclays Over $17.6B Error

    Four firms have submitted competing bids to serve as lead counsel in a proposed shareholder class action in New York federal court over a financial reporting error that led to Barclays selling more than $17.6 billion in securities over its maximum registered amount.

  • November 23, 2022

    Ropes & Gray-Led Electric Aircraft Co. Lilium Lands $119M

    German electric aircraft developer Lilium NV, guided by Ropes & Gray LLP, announced Wednesday that it had closed a $119 million capital raise from a group of investors that includes industrial technology conglomerate Honeywell, among others.

  • November 23, 2022

    Another News Corp. Investor Raises Doubt About Fox Merger

    An additional News Corp. shareholder, the London-based investment firm Independent Franchise Partners, has expressed concern about a possible merger between the media company and Fox Corp.

  • November 23, 2022

    Aetna Can't Decertify Class In Benefits Clawback Suit

    Aetna can't disband a class of policyholders who said the company violated federal benefits law by trying to claw back disability benefits, after a Pennsylvania federal judge rejected the insurer's assertion that a recent Third Circuit decision created a standard the lead plaintiff couldn't meet.

  • November 23, 2022

    Real Estate Rumors: Fogo De Chao, Damaghi, Prologis

    Fogo de Chao has inked a deal to lease 12,000 square feet of space in Virginia, the Damaghi Family has picked up a pair of Miami development sites, and Prologis is hoping to build a studio campus in Los Angeles.

  • November 23, 2022

    Miami-Dade Asks Bankruptcy Court To Allow End To FTX Deal

    Miami-Dade County, Florida, has asked a Delaware bankruptcy court for permission to end its naming rights deal with beleaguered cryptocurrency exchange FTX and remove the name from the downtown arena where the Miami Heat play.

  • November 23, 2022

    Glencore Agrees Australian Mine Sale To SPAC For $1.1B

    Commodities trader Glencore said on Wednesday that it will sell its Australian copper mine to a special purpose acquisition company listed in New York for more than $1.1 billion.

  • November 22, 2022

    Goldman Sachs Hit With $4M SEC Fine Over ESG Policies

    Goldman Sachs Asset Management LP has agreed to pay a $4 million penalty to resolve a U.S. Securities and Commission action over the company's past policies and procedures on environmental, social and governance investments, the SEC said Tuesday.

  • November 22, 2022

    Coinbase Wants Hacker Theft Class Action Sent To Arbitration

    Cryptocurrency platform Coinbase has asked a California federal judge to send into arbitration a proposed class action stemming from alleged hacker attacks that resulted in stolen account funds, arguing the plaintiffs agreed to arbitrate their claims when they signed off on their user agreements.

  • November 22, 2022

    3 Firms Steer $573M SPAC Merger For UK EV Startup Zapp

    Special-purpose acquisition company CIIG Capital Partners II Inc. and U.K.-based electric bike company Zapp Electric Vehicles Ltd. announced Tuesday that they had reached an agreement to merge in a deal that implies an enterprise value of $573 million for the combined company and was put together by three law firms.

  • November 22, 2022

    TC Energy Balks At $3B Damages Bid In Pipeline Merger Suit

    Canadian energy company TC Energy Corp. pushed back Tuesday on a suggestion from former Columbia Pipeline Group Inc. shareholders that Delaware's Chancery Court should award them $3.02 billion in rescissory damages stemming from an allegedly unfair $13 billion merger with TC Energy's predecessor TransCanada Corp.

  • November 22, 2022

    FTX Pledges Management Turnaround In First Ch. 11 Hearing

    Appearing for the first time in Delaware bankruptcy court 11 days after commencing Chapter 11 cases, cryptocurrency exchange FTX Trading Ltd. said it is aiming to implement robust internal controls and to straighten out the mess of its financial records.

  • November 22, 2022

    Clark Hill, JP Galda Guide $170M Cybersecurity SPAC Merger

    Blank-check company Western Acquisition Ventures Corp., advised by J.P. Galda & Co., on Tuesday agreed to merge with Virginia-based cybersecurity solutions provider Cycurion Inc., steered by Clark Hill PLC, in a deal that values the combined company at just over $170 million.

  • November 22, 2022

    XL Fleet Still Stuck In Muddy Waters In Del. SPAC Suit

    A critical Muddy Waters Research report on SPAC-born XL Fleet Corp. once again haunted the company Tuesday as company attorneys argued for the dismissal of a six-count class suit seeking damages from an allegedly deceptive acquisition from late 2020.

  • November 22, 2022

    Ex-Highland Exec Fights Restraining Order From Former GC

    A former executive at the defunct Highland Capital Management LP is fighting a Texas state court order for him to stay away from the fund's ex-general counsel, who is suing his former business associate for stalking and harassing him and his family.

  • November 22, 2022

    Cohen Milstein Gets $4.8M Fee In Performance Sports Case

    A New York federal judge awarded more than $4.8 million in fees to Cohen Milstein Sellers & Toll PLLC, granting a request by the attorneys who secured a class action settlement between investors and former executives of the bankrupt Performance Sports Group Ltd. after nearly seven years of litigation.

  • November 22, 2022

    Ex-Atty Hit With Fresh Claims Over Missing Client Funds

    After giving up his law license last year over allegations that he had misappropriated millions of dollars in client funds, a former Dallas attorney and investment adviser is facing fresh allegations from a married couple claiming that he embezzled an inheritance check instead of investing it.

Expert Analysis

  • New FERC Affiliate Considerations For Public Utility Investors

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    Two recent orders from the Federal Energy Regulatory Commission significantly broaden the scope of the terms "affiliate" and "change in control," which means that investors in public utilities should reexamine their status and compliance obligations, say attorneys at Latham.

  • Underwriters Must Beware Small-Cap IPO Fraud

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    Notices from the Financial Industry Regulatory Authority and multiple stock exchanges increase pressure on underwriters of small-cap initial public offerings to protect public markets from fraud, with ample precedent to show that FINRA will not hesitate to take enforcement actions if necessary, says Spencer Feldman at Olshan Frome.

  • Opinion

    Litigation Funders Seek Transparency In Disclosure Debate

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    Litigation funders want to correct the record on calls for funding disclosure in the name of transparency, as this purported justification obscures the disclosure's adverse effects — prejudicing plaintiffs' cases and discouraging the assertion of meritorious legal claims, say Dai Wai Chin Feman and William Weisman at Parabellum Capital.

  • Metaverse Game Investing Is High Risk With Little Regulation

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    Although gaming is the fastest-growing sector of the metaverse, the digital asset industry does not presently face the same federal oversight as traditional investments like stocks and bonds, so investors should consider five factors when assessing their individual level of risk, says Brett Sager at Ehrenstein Sager.

  • 5 Principles For Better Professional Development Programs

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    The pandemic and ensuing "great resignation" have resulted in a more transient legal work force, but law firms can use effective professional development programs to bridge a cultural gap with new associates and stem associate attrition, says Matthew Woods at Robins Kaplan.

  • What To Pay Attention To In FTX Fraud Probe

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    Steven Lee and Sean Shecter at Lewis Brisbois outline the issues the U.S. Department of Justice and the U.S. Securities and Exchange Commission will have to explore as they investigate FTX's handling of customer funds to determine whether the crypto exchange’s CEO acted with the requisite criminal intent to violate federal wire fraud statutes.

  • Series

    My Favorite Law Prof: How I Learned To Practice With Passion

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    First Circuit Judge Gustavo Gelpí recalls how Suffolk University Law School's Joseph Glannon taught the importance of the law as both a tool and a profession, and that those who wish to practice law successfully must do so with love, enthusiasm and passion.

  • Exculpation Clause Ruling May Dissuade Some Ch. 11 Filings

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    Highland Capital’s recent bankruptcy ruling narrows the scope of exculpation provisions permissible in the Fifth and Tenth Circuits, which not only reveals another circuit split, but also may discourage large Chapter 11 filings in those circuits and lead to diminished creditor recoveries, say attorneys at Squire Patton.

  • Investment Adviser Compliance Tips For 3rd-Party Marketing

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    The U.S. Securities and Exchange Commission has coupled its recently effective marketing rule with a warning the agency will keenly watch the industry for violations, so investment advisers planning to use newly-permitted third-party testimonials and reviews should keep several considerations in mind to stay in compliance, say attorneys at BakerHostetler.

  • Questions To Ask Before Making A Lateral Move As Partner

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    Law firm partners considering lateral moves should diligently interview prospects — going beyond standard questions about compensation to inquire about culture, associate retention and other areas that can provide a more comprehensive view, says Lauren Wu at VOYLegal.

  • Series

    My Favorite Law Prof: How I Learned To Argue Open-Mindedly

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    Queens College President Frank Wu reflects on how Yale Kamisar’s teaching and guidance at the University of Michigan Law School emphasized a capacity to engage with alternative worldviews and the importance of the ability to argue for both sides of a debate.

  • ABA's No-Contact Rule Advice Raises Questions For Lawyers

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    The American Bar Association's ethics committee recently issued two opinions concerning the no-contact rule — one creates an intuitive and practical default for electronic communications, while the other sets a potential trap for pro se lawyers, say Lauren Snyder and Deepika Ravi at HWG.

  • 4 Key Skills For An Effective Attorney Coaching Conversation

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    As BigLaw firms are increasingly offering internal coaching as one of many talent strategies to stem ongoing lawyer attrition, Stacey Schwartz at Katten discusses how coaches can help attorneys achieve their goals.

  • Perspectives

    How Civilian Attorneys Can Help Veterans

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    With legal aid topping the U.S. Department of Veterans Affairs' annual list of unmet needs of veterans facing housing insecurity, nonmilitary volunteer attorneys can provide some of the most effective legal services to military and veteran clients, say Anna Richardson at Veterans Legal Services and Nicholas Hasenfus at Holland & Knight.

  • Hypothetical Performance Under SEC's New Marketing Rule

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    In this brief video, Amy Greer and Jennifer Klass at Baker McKenzie discuss the issue of investment advisers advertising their services using hypothetical performance results that were not actually achieved by any portfolio, following the recent compliance deadline for the U.S. Securities and Exchange Commission’s new marketing rule.

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