Asset Management

  • April 28, 2017

    Some Expert Testimony Allowed In SEC Funds Transfers Suit

    An Illinois federal judge on Friday told the expert witnesses in the U.S. Securities and Exchange Commission’s funds tranfers suit against defunct investment advisory outfit The Nutmeg Group LLC that they can stay on the case if they keep their testimony in the lines.

  • April 28, 2017

    PE-Backers Unloading $521M Stake In Extended Stay

    Hotel operator Extended Stay America Inc. said Friday that its private equity backers are again selling down their position in the company and its real estate investment trust subsidiary, this time unloading $520.5 million worth of stock in a secondary offering.

  • April 28, 2017

    SEC Says Jail Could Still Prompt Kapur To Cough Up $2.2M

    EDITING - The U.S. Securities and Exchange Commission asked a Manhattan federal judge Thursday to keep hedge fund founder Chetan Kapur jailed for contempt of $10 million in civil judgments, asserting that incarceration could still coerce the recalcitrant defendant to lead authorities to $2.2 million stashed in Switzerland.

  • April 28, 2017

    5 Firms Set To Launch May With 6 IPOs Surpassing $1.7B

    Five firms will steer six initial public offerings projected to raise more than $1.7 billion during the first week of May, including two energy issuers, three biotech companies and a private equity-backed real estate finance company, extending the IPO market's second-quarter momentum.

  • April 28, 2017

    SAC Trader Says 1st Circ. Upheld Newman After Salman

    Ex-SAC Capital Advisors manager Mathew Martoma encouraged the Second Circuit Thursday to follow its sister circuit’s lead in holding the U.S. Supreme Court’s Salman opinion didn’t flip the New York appellate court’s earlier finding that close relationships are necessary to sustain insider trading convictions.

  • April 28, 2017

    Real Estate Rumors: Thor, Samar Hospitality, Snap

    Thor Equities is reportedly trying to get out of a $42.5 million contract to buy a New York rental building, Samar Hospitality is said to have scored a $24 million loan for a Florida hotel project, and Snap Inc. is reportedly taking an additional 26,000 square feet of space from real estate investment trust Columbia Property in New York.

  • April 28, 2017

    Taxation With Representation: Skadden, Wachtell, Allen

    In this week’s Taxation With Representation, medical supply company Becton Dickinson buys out competitor C.R. Bard for $24 billion, Allen & Overy and Cravath guide a $4.3 billion acquisition in the pharmaceutical industry, and a merger creates a lodging REIT heavyweight with a $4.2 billion market capitalization in Maryland.

  • April 28, 2017

    Health Hires: 8 Firms Add Health, Life Sciences Experts

    The last few weeks have seen Cooley LLP, DLA Piper, Faegre Baker Daniels Consulting, Fox Rothschild LLP, King & Spalding LLP, Nossaman LLP, Polsinelli PC and Porzio, Bromberg & Newman PC expand their expertise in the health and life sciences worlds.

  • April 28, 2017

    Hunton & Williams Steers $375M New York Financing Deal

    Hunton & Williams LLP represented DTH Capital, which is partly owned by a subsidiary of AG Insurance, and Rose Associates in connection with their $375 million mezzanine loan and mortgage for a residential, hotel, restaurant and retail property in New York, according to an Thursday announcement from Hunton & Williams.

  • April 28, 2017

    Unizo Drops $259M On Pair Of Washington DC Buildings

    Unizo Holdings Co. Ltd. has purchased a pair of Washington, D.C., office and retail buildings from Westbrook Partners LLC and Tier REIT Inc. for $259 million, according to an announcement on Thursday from sell-side broker Holliday Fenoglio Fowler LP.

  • April 27, 2017

    Nomura Trader Seeks Split From Conspirators In RMBS Case

    One of three traders at Nomura Securities International Inc. accused of juicing profits by lying to customers about mortgage bond prices asked a Connecticut federal court on Thursday for his own separate trial, warning that if he were tried along with his colleagues he could be found guilty by association.

  • April 27, 2017

    Fannie Investors Can't Revive Suit Against Deloitte

    A Florida federal judge on Thursday rejected a request by Fannie Mae shareholders to reconsider his decision to kill their lawsuit against Deloitte & Touche LLP, saying they waited too long to raise a new argument and cited irrelevant case law.

  • April 27, 2017

    Feds Deny Responsibility For Platinum Partners Jury Leak

    Federal prosecutors told a New York federal judge on Wednesday that defendants accused of partaking in a $1 billion securities fraud scheme at Platinum Partners have no evidence that a government agent was behind purported grand jury leaks about the investigation into the hedge fund.

  • April 27, 2017

    Broker Settles SEC Charges Over Short-Selling Violations

    The U.S. Securities and Exchange Commission has announced that a Utah-based brokerage will pay a fine to settle allegations that it violated market structure rules in regard to its short sales.

  • April 27, 2017

    NY Law Sinks RICO Claims In Appeal In Hedge Fund Suit

    A New Jersey appeals court on Thursday affirmed the dismissal of Racketeer Influenced and Corrupt Organizations claims in a lawsuit alleging a network of investment professionals forced an insurer’s financial ruin, finding that New York law, which doesn’t allow private civil RICO claims, applied because the alleged wrongdoing was concentrated in the Empire State.

  • April 27, 2017

    Deals Rumor Mill: West Corp., Party City, Precision Capital

    Apollo Global is nearing an acquisition of call center operator and debt collection company West Corp., Party City may be for sale, and Precision Capital is considering a sale of its roughly $1.5 billion stake in Banque Internationale a Luxembourg.

  • April 27, 2017

    K&L Gates Gains Ex-Crowell Securities Brokerage Pro In NY

    K&L Gates LLP has added a former Crowell & Moring LLP partner to its investment management, hedge funds and alternative investments practice in New York, gaining an expert in matters related to the securities brokerage industry, the firm said Thursday.

  • April 27, 2017

    SEC Denied Quick Win Against F-Squared's Ex-CEO

    A Massachusetts federal judge refused the U.S. Securities and Exchange Commission a quick win Thursday in its suit alleging the ex-CEO of disgraced money manager F-Squared falsely advertised a top product's history, saying a jury could reasonably find he had no intent to deceive investors.

  • April 27, 2017

    Singapore Rate-Rigging Suit Sent Back To Drawing Board

    U.S. District Judge Alvin K. Hellerstein called a Manhattan suit targeting big banks across the world for alleged rate-rigging in Singapore a “huge, amorphous mess,” saying Thursday it does not sufficiently detail a jurisdictional hook to New York, antitrust damages or a viable racketeering theory. 

  • April 27, 2017

    CFPB Sues Tribal Online Lenders For Illegal Debt Collecting

    The Consumer Financial Protection Bureau on Thursday announced that it has filed a suit in Illinois federal court against four online lenders owned and incorporated by the Habematolel Pomo of Upper Lake Indian tribe, alleging that they deceived customers by collecting debts they weren’t owed legally.

Expert Analysis

  • The Mediator’s Proposal As A Tool For Litigants

    Dennis Klein

    Mediators’ proposals, which call for an unconditional and confidential acceptance or rejection, are resolving high-value disputes on a regular basis. Dennis Klein of Critical Matter Mediation examines why this is happening and the tactical implications for litigants in anticipating that a mediator’s proposal could resolve litigation.

  • Expectations After The Trump Administration's First 100 Days

    Jim Flood

    In its first 100 days, the Trump administration has had mixed results and may be behind where it wants to be. The biggest threat to President Donald Trump’s domestic policy agenda beyond the first 100 days is the difficulty of reconciling the Freedom Caucus Republicans, moderate Republicans and Democrats, say Jim Flood and Cari Stinebower of Crowell & Moring LLP.

  • FINRA’s Foray Into Insider Trading

    Benjamin Kozinn

    Based on a recent multiyear case against a distressed debt trader, the Financial Industry Regulatory Authority seems ready, willing and able to take a more prominent role in insider trading, say attorneys with Lowenstein Sandler LLP.

  • The 9-Year Winning Streak Of Virginia ‘Rocket Docket’

    Bob Tata

    Out of 94 district courts, the Eastern District of Virginia has been the fastest civil trial docket in the country for nine straight years. Without micromanaging the process, the EDVA's judges, magistrate judges, and clerks and staff continue to perform at a stunningly efficient level, says Bob Tata of Hunton & Williams LLP.

  • Examining FINRA Plan To Liberalize Advertising Rules

    Matthew R. Silver

    A recent proposal by the Financial Industry Regulatory Authority to liberalize restrictions on certain types of performance projection materials may alleviate some of the conflict that has existed in performance advertising rules under the Investment Advisors Act and FINRA rules, says Matthew Silver of Drinker Biddle & Reath LLP.

  • Opinion

    Let's Talk About Half-Hearted Innovation

    Michael Moradzadeh

    Allowing attorneys to telecommute may seem like a great fix for law firms. But without significant changes to the firm's culture, telecommuting is just a patch applied to the problem of attrition, says Michael Moradzadeh, founding partner of Rimon PC.

  • Protecting Communications From PR Privilege Issues

    Donna Fisher

    Two recent opinions out of Pennsylvania and California state courts offer important lessons for avoiding claims of privilege waiver when using public relations consultants during litigation, say attorneys with Pepper Hamilton LLP.

  • Roundup

    Counsel To Counsel: Insights From Law Firm GCs

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    General counsel at four law firms share the biggest issues they face in an increasingly complex legal environment.

  • Monthly Column

    Gray Matters: The Attorney-Client Team

    Robert Creo

    A 1979 study of attorney-client interactions revealed startling information: Despite years of education and training to hone their legal expertise, attorneys were not acting as independent counselors but rather allowing their clients to control them. Our experience is that this trend has accelerated, say dispute resolution experts Robert Creo and Selina Shultz.

  • Justices Skeptical Of SEC Disgorgement Without Time Limits

    Dan McCaughey

    The decision by the U.S. Supreme Court in Kokesh v. Securities and Exchange Commission could meaningfully limit the uncertainty, expense and evidentiary disadvantages faced by parties responding to SEC investigations into conduct dating back more than five years, say attorneys with Ropes & Gray LLP.