Asset Management

  • May 26, 2020

    Oil Co. Says It Can Keep Payments For Well Constructions

    A Texas oil and gas exploration company says it's entitled to $2 million or to keep previous payments from an energy fund that failed to finish funding the construction of three wells in Howard County.

  • May 26, 2020

    Ares Management Pays $1M To Settle SEC Insider Info Claim

    Ares Management LLC, a private equity firm and registered investment adviser, will pay $1 million to settle a claim that it didn't enforce policies that would prevent the misuse of material nonpublic information, the U.S. Securities and Exchange Commission said Tuesday.

  • May 26, 2020

    Slate Asset Management Providing Canada $363M In Relief

    Slate Asset Management is providing as much as CA$500 million ($362.9 million) in capital to the Canadian real estate industry as the firm seeks to help parties that have been hit hardest by the COVID-19 pandemic, the firm announced Tuesday.

  • May 26, 2020

    Objector Fights $15M Deal In American Realty-Tied REIT Suit

    Abraham Fruchter & Twersky LLP is repping the only investor to object to a $15 million deal reached with the sponsor of American Realty Capital Properties over a real estate investment trust, a settlement the shareholder called "a relatively minor amount of total potential damages."

  • May 26, 2020

    Latest Deals In Libor Suit Boost Lenders' Recovery To $35M

    A Manhattan federal judge signed off Tuesday on settlements worth $4 million between lenders who accuse a group of global banks of rigging Libor and three of the defendant banks, JPMorgan Chase, Bank of America and UBS, bringing the lenders' total recovery to $35 million.

  • May 26, 2020

    High Court Won't Review Nonconsensual Ch. 11 Releases

    The U.S. Supreme Court on Tuesday said it won't review a Third Circuit decision that allowed the 2015 confirmation of a troubled laboratory company's Chapter 11 plan over opposition from creditors that argued the plan unconstitutionally released key parties from damage claims without creditor consent.

  • May 26, 2020

    ​​​​​​​Labaton Sucharow Takes Lead In WWE Stock-Drop Suit

    A New York federal judge on Friday named Labaton Sucharow LLP lead counsel in a consolidated proposed stockholder class action that alleges World Wrestling Entertainment Inc. hid souring relations with Saudi Arabia from investors, causing the stock price to drop when the facts came to light.

  • May 26, 2020

    Investors Seek To Wrap $95M Deal On Bond Price-Fix Claims

    Investors accusing Bank of America, Deutsche Bank and HSBC of rigging the market for bonds issued by foreign governments are urging a New York federal court to approve a proposed allocation of the $95.5 million in settlements reached with the banks over the proposed class action.    

  • May 26, 2020

    Judge Makes Schlichter Bogard $5M Fee Offer It Won't Refuse

    Schlichter Bogard & Denton LLP and two other firms will receive nearly $5.25 million in fees after a federal judge during a hearing Tuesday offered the attorneys representing Massachusetts Institute of Technology workers in an $18 million ERISA settlement a choice: take the deal or pay for a special master.

  • May 26, 2020

    Whole Foods-Anchored Fla. Center Trades Hands For $47M

    A Zurich Alternative Asset Management fund has purchased a Whole Foods-anchored retail center in Coral Gables, Florida, for $46.75 million, according to an announcement Tuesday from sell-side broker Jones Lang LaSalle.

  • May 22, 2020

    Law360 Reveals Titans Of The Plaintiffs Bar

    They've represented consumers, companies, and government entities, taken on Goliaths in industries ranging from aerospace to health care to finance to technology to sports, and won landmark victories on behalf of clients across the country.

  • May 22, 2020

    Hollywood Executive Charged With $28M BlackRock Fraud

    Hollywood distribution executive William Sadleir was accused Friday of spiriting some $28 million out of his distribution company — cheating funder BlackRock, which had poured in $75 million — and separately misusing a $1.7 million coronavirus relief payment.

  • May 22, 2020

    Goldman Class Cert. Ruling Has COVID-19 Implications: Amici

    A group of law professors and former SEC officials said Friday that the Second Circuit's recent split-panel ruling against Goldman Sachs in a heavily watched class certification fight creates risks to public companies that are now exacerbated by the COVID-19 crisis.

  • May 22, 2020

    8th Circ. Revives Washington U. Workers' ERISA Suit

    The Eighth Circuit partially revived a proposed ERISA class action against Washington University in St. Louis on Friday, saying a lower court correctly tossed claims that the school's retirement plan held on to underperforming investments but shouldn't have dismissed allegations that the plan's fees were too high.

  • May 22, 2020

    Calif. Financial Adviser Charged In Alleged $10M Ponzi Scam

    Federal prosecutors have charged and arrested a California-based financial planner and adviser for wire fraud tied to an alleged Ponzi scheme they say he used to dupe 75 victims, mainly senior citizens, into forking over $10 million to invest in securities that didn't exist.

  • May 22, 2020

    New ERISA Suits Could Clarify Plans' Cybersecurity Duties

    A handful of recent lawsuits challenging retirement plan managers' lax cybersecurity policies and use of workers' data for marketing purposes could shed light on an area of the Employee Retirement Income Security Act that has long been shrouded in mystery: employers' cybersecurity and data privacy obligations.

  • May 22, 2020

    SEC Actions Point To 'Hyperfocus' On Disclosure Issues

    The U.S. Securities and Exchange Commission is clamping down on investment advisers and broker-dealers with wide-ranging initiatives and settlements that highlight a "hyperfocus" on disclosure issues, showing the regulator is determined to improve the ways firms communicate with clients, attorneys say.

  • May 22, 2020

    Fort Worth Episcopal Diocese Wins $100M Property Fight

    The Supreme Court of Texas on Friday ended a yearslong $100 million property battle between the separated Episcopal Diocese of Fort Worth and the national Episcopal Church, ruling the diocese is the rightful owner of more than 60 churches in the Fort Worth area.

  • May 22, 2020

    FINRA Can't Pin $12.5M Promissory Note Fraud On Brokerage

    A three-member Financial Industry Regulatory Authority panel chucked an enforcement action accusing a brokerage firm and its principals of fraudulently selling $12.5 million in promissory notes to prop up a struggling real estate investment business, finding on Thursday that the regulator was short on evidence.

  • May 22, 2020

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

    The past week in London has seen a Puerto Rican lender sue Venezuela's state-run oil company months after inking a settlement over suspicious payments, a Dutch tulip grower take Maersk into court over a cargo shipment and Wilmington Trust face down commercial fraud claims. Here, Law360 looks at those and other new claims in the U.K.

  • May 22, 2020

    SEC Backs Fine For Compliance Chief Who Missed Red Flags

    The U.S. Securities and Exchange Commission told the D.C. Circuit on Thursday that a former broker-dealer compliance chief was sanctioned not for knowing about a new hire's ties to a barred broker, but for failing to investigate them "in the face of red flags."

  • May 22, 2020

    Real Estate Rumors: Chetrit, Altaris, Zurich Insurance

    Isaac Chetrit has reportedly paid $28.7 million for a New York development site, Altaris Capital is said to have picked up a California building from a 3M spinoff for $35.7 million, and a Zurich Insurance arm has reportedly bought a Whole Foods-anchored retail space in Florida for $46.75 million.

  • May 22, 2020

    Virus Derails Cornell Retirement Plan Trial For Now

    Workers accusing Cornell University of saddling their retirement plans with unreasonable record-keeping fees will have to wait an "unknowable amount of time" before they can take their remaining claims to trial due to the coronavirus pandemic, a New York federal judge has ruled.

  • May 22, 2020

    Is The Future Of The Annual Shareholder Meeting Online?

    The coronavirus pandemic has forced a reckoning for in-person shareholder meetings. This year's necessary migration to virtual meetings could erode some of the traditional opposition to online formats, but attorneys say widespread adoption in the future isn't inevitable.

  • May 22, 2020

    Coronavirus Q&A: Dechert Real Estate Leader

    In this edition of Coronavirus Q&A, one of Dechert's global real estate finance leaders discussed the ways COVID-19 is impacting the commercial mortgage-backed securities market and likened the current pandemic to the unknowns faced by early explorers and cartographers.

Expert Analysis

  • Justices' SEC Disgorgement Ruling May Shape FCPA Matters

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    The U.S. Supreme Court’s upcoming opinion in Liu v. U.S. Securities and Exchange Commission may call into question when Foreign Corrupt Practices Act settlements should be subject to disgorgement, say Matthew Rutter and Neal Hochberg at Charles River Associates.

  • Using The M&A Slowdown To Prepare A Portfolio Co. For Sale

    Excerpt from Lexis Practice Advisor
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    Dealmakers can take advantage of COVID-19’s dampening effect on M&A activity to work through timing, pandemic considerations and sale process coordination for portfolio company sales so their deals will be ready when the market eventually picks back up, say Michael Gilligan and Caitlin Cornell at Schulte Roth.

  • Opinion

    Credibility Concerns About Virtual Arbitration Are Unfounded

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    Concerns that videoconferenced arbitration hearings compromise an arbitrator's ability to reliably resolve credibility contests are based on mistaken perceptions of how many cases actually turn on credibility, what credibility means in the legal world, and how arbitrators make credibility determinations, says Wayne Brazil at JAMS.

  • A Lawyer's Guide To Client Service Continuity Planning

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    Ensuring uninterrupted client service and compliance with ethical obligations in a time when attorneys are more likely to fall ill means taking six basic — yet often ignored — steps to build some redundancy and internal communication into legal practice, say attorneys at Axinn.

  • Virtual Meetings Could Be Fertile Ground For Legal Discovery

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    Many remote meeting technologies include recording features as default settings, raising three primary concerns from a legal discovery and data retention perspective, and possibly bringing unintended consequences for companies in future litigation, says Courtney Murphy at Clark Hill.

  • Bankruptcy's 'Deep Freeze' May Be Struggling Cos.' Best Hope

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    A tsunami of bankruptcy filings due to the economic effects of the coronavirus may not be a bad thing, as it could provide the only way for some struggling companies to stay alive — a minimalist, deep hibernation mode where they can await rescue, says Joseph Moldovan at Morrison Cohen.

  • Contingent Fees A Great Option For Cos. During Downturn

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    In-house counsel may assume that "elite" law firms will turn up their noses at the idea of contingent fees, but such arrangements, whether pure or hybrid, are offered by many firms — even to defendants — and may be the answer to tight litigation budgets, say attorneys at Fish & Richardson.

  • The Role Of Remote Mediation After The Crisis Is Over

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    When the dark cloud of COVID-19 has passed and resolution centers are once again peopled with warring parties and aspiring peacemakers, remote mediations will likely still be common, but they are not going to be a panacea for all that ails the dispute resolution industry, says Mitch Orpett at Tribler Orpett.

  • Preventing Elder Exploitation As Securities Fraud Increases

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    Because securities fraud tends to increase in times of crisis, financial institutions should be on the lookout for elder abuse red flags identified by the Financial Crimes Enforcement Network and U.S. Department of Justice, and shore up suspicious activity reporting, says Michael Napoli at Akerman.

  • 7 Steps To Romancing The Virtual Classroom

    Excerpt from Lexis Practice Advisor
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    For professors, trainers, lawyers, students and businesses grappling with the unexpected challenges of distance learning, trial attorney and teacher James Wagstaffe offers best practices for real-time online instruction.

  • Main Street Lending Adjustments Mean Help For More Cos.

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    Recent changes to term sheets for the Federal Reserve's Main Street Lending Program, allowing borrowers to utilize adjusted earnings before interest, taxes, depreciation and amortization, will increase the available loan amount and qualify more borrowers, says Keith Durkin at BakerHostetler.

  • 5 Tips For Emergency Relief Petitions During COVID-19

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    Business disputes are not a priority for courts right now, so companies looking to protect their trade secrets or rights to contractual performance must tailor their requests for emergency relief to the unique circumstances of this time, says Shannon Armstrong at Holland & Knight.

  • Key Return-To-Work Considerations For Law Firms

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    There may be precious little notice before the legal community ramps up, so it's important to have return-to-work plans that address the unique challenges law firms will face in bringing employees back to offices, say attorneys Daniel Gerber, Barbara O'Connell and Richard Tucker.

  • A Creative Solution For Teaching Local Practice In Law School

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    To help prepare my students to navigate local practice, I wrote a set of rules for the classroom that mimics those they might encounter from a local judge or court, says Michael Zuckerman at Northwestern Pritzker School of Law.

  • Remote Investigations May Streamline Path To Asset Recovery

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    Creditors seeking to enforce judgments and arbitration awards across borders have benefited from lengthened civil litigation timelines as well as from the unique opportunities in intelligence gathering made possible by the widespread shift to remote business function, say Daniel Pascucci and Joseph Dunn at Mintz.

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