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