Asset Management

  • July 25, 2017

    Ex-Stock Adviser Cops To Trading Scheme With Ex-Hunton Atty

    A former investment adviser admitted in Brooklyn federal court on Tuesday that he schemed to trade on inside information that a convicted ex-Hunton & Williams LLP attorney gleaned from a pharmaceutical industry client.

  • July 25, 2017

    Barnes & Noble Urged By Activist Sandell To Mull Sale

    Activist investor Sandell Asset Management Corp. revealed a stake Tuesday in Barnes & Noble Inc., calling for the “unconscionably” undervalued book retailer to consider going private as it would likely make a prime target for internet or media companies or private equity sponsors.

  • July 25, 2017

    Libor Trader Waives Conflict To Keep Paul Hastings Team

    A former Deutsche Bank AG trader accused of rigging the London Interbank Offered Rate told a New York federal judge on Tuesday that he wants to stick with his counsel from Paul Hastings LLP even though there may be a conflict that might limit his attorney’s ability to defend him.

  • July 25, 2017

    Banks Say Top Court Ruling Cuts Against SIBOR-Rigging Suit

    A group of foreign banks accused of rigging the Singapore Interbank Offered Rate and another financial benchmark told a New York federal judge on Monday that a recent U.S. Supreme Court decision on jurisdiction strengthens their argument for dismissal, contrary to what plaintiffs have said.

  • July 25, 2017

    Real Estate Rumors: Walter DeFortuna, TIAA, Wells Fargo

    A firm led by Fortune International Realty Chairman Walter DeFortuna has reportedly dropped $18 million on two Florida apartment buildings, TIAA's TH Real Estate is said to be buying a Manhattan office and retail condo for $67 million and Wells Fargo Commercial Mortgage Securities has reportedly loaned $500 million to Vornado for a New York office tower.

  • July 25, 2017

    Clearing Firm Pays FINRA Fine Over Supervisory Failures

    Electronic Transaction Clearing Inc. has agreed to pay $250,000 to end the Financial Industry Regulatory Authority's allegations that the high-frequency clearing firm failed to implement anti-money laundering policies and violated multiple customer protection and supervisory rules, according to settlement documents filed Monday.

  • July 25, 2017

    TA Realty Sheds Industrial Portfolio In $201M Deal

    TA Realty LLC said Monday that it has unloaded a portfolio of 20 industrial properties located in the Mid-Atlantic region in a $201 million deal with real estate investment trust Colony NorthStar Inc.

  • July 25, 2017

    Rising Star: Debevoise & Plimpton's Jonathan Adler

    Debevoise & Plimpton LLP’s Jonathan Adler has participated in the formation of more than eight investment funds with commitments totaling nearly $19 billion since 2014 on behalf of a global client roster featuring such heavyweights as The Carlyle Group and KKR, earning him a spot among the five asset management law practitioners under 40 honored by Law360 as Rising Stars.

  • July 25, 2017

    AkzoNobel Plans Shareholder Meeting Amid Activist Pressure

    Dutch coatings and chemicals company AkzoNobel on Tuesday announced plans for a shareholder meeting along with new measures aimed at easing relations with investors amid pressure from Elliott, a move the activist hedge fund says still falls short and fails to establish a truly democratic vote.

  • July 24, 2017

    Barclays Forex Rigging Settlement Nets $8.75M In Atty Fees

    Counsel for Axiom Investment Advisors LLC will receive $8.75 million from a $50 million settlement with Barclays Bank LLC in a New York federal court action filed over purported misuse of a foreign exchange trading system to boost bank profits. 

  • July 24, 2017

    LedgerX First To Get CFTC Approval For BitCoin Trading

    New York-based investment startup LedgerX announced Monday that it is the first to get approval to operate a federally regulated exchange and clearinghouse for derivatives contracts that trade in digital currencies like bitcoin.

  • July 24, 2017

    8th Circ. Says ICA Won't Allow Retirement Plan's Fee Suit

    An Eighth Circuit panel declined Monday to revive a lawsuit over allegedly excessive fees charged by Principal Management Corp. to mutual funds held in the portfolios of six “fund-of-funds” mutual funds, ruling that the Alabama corporate retirement plan behind the suit doesn’t have a valid cause of action under the Investment Company Act of 1940.

  • July 24, 2017

    Equus Investor Fights Bid To Toss Equity Perk Suit

    Attorneys for a proposed class seeking to undo an approved Equus Total Return Inc. stock incentive plan parried suggestions Monday that their complaint alleged too little, too late during Delaware Chancery Court arguments on a company dismissal motion.

  • July 24, 2017

    SEC Says Broker-Dealer Can't Ditch Suit Over 'Layering'

    The U.S. Securities and Exchange Commission urged a New York federal court Friday not to let broker-dealer Lek Securities Corp. and its CEO off the hook from the agency’s suit that alleges the company aided a Ukrainian former client’s efforts to influence securities prices using techniques like the “layering” of phony trades to mimic market forces.

  • July 24, 2017

    Puerto Rico Bondholders Seek Seat On Creditor Committee

    A group of Puerto Rico bondholders on Friday asked a federal court to allow them on the unsecured creditor’s committee in the commonwealth's bankruptcy, saying they were unfairly excluded.

  • July 24, 2017

    Shkreli Says He Won't Take Stand At Securities Fraud Trial

    Martin Shkreli on Monday told a New York federal judge that he will not take the witness stand in his own defense at his securities fraud trial, while jurors were shown documents indicating that Shkreli's hedge funds were strapped for cash while he boasted of hefty returns for investors.

  • July 24, 2017

    PwC Beats ERISA Challenge To Retirement Plan’s Terms

    A New York federal judge handed a win to PricewaterhouseCoopers LLP on Monday in a suit from former employees who alleged a PwC benefit plan ran afoul of the Employee Retirement Income Security Act, saying the workers were trying to rewrite the plan instead of simply seeking its enforcement.

  • July 24, 2017

    JPMorgan Sues Former Employees For Poaching Customers

    JPMorgan Securities Friday filed a suit in Illinois federal court accusing two former investment advisers of poaching $36 million in client accounts and asking for an order to bar them from soliciting more customers.

  • July 24, 2017

    Petrobras Seeks To Expand 2nd Circ. Win In Investor Suit

    Brazilian oil giant Petrobras and several banks that underwrote its debt securities asked the Second Circuit on Friday to rehear a decision that decertified two investor class actions but affirmed part of a certification order, saying the circuit conflicted with U.S. Supreme Court precedent.

  • July 24, 2017

    Ex-Barclays Trader Banned From Banking For Unsafe Actions

    The Federal Reserve Board of Governors on Monday banned a former Barclays Bank PLC foreign exchange trader from the banking industry for possible coordination with other investors and the release of confidential information about Barclays and its clients.

Expert Analysis

  • Pay-To-Play Rules Are Here To Stay

    Thomas Potter

    In recent years, the U.S. Securities and Exchange Commission has expanded the reach of rules aimed at preventing pay-to-play practices by municipal securities dealers to include investment advisers, municipal advisers and broker-dealers. With the Sixth Circuit rejecting the latest constitutional challenge in Tennessee Republican Party v. SEC, the issue has escaped judicial review for now, says Thomas Potter III of Burr & Forman LLP.

  • 5 Questions Firms Should Ask When Evaluating Litigation AFA

    Gregory Lantier

    Law firm management should understand the client’s reasons for requesting an alternative fee arrangement, and whether approving the fee will help grow the relationship with the client, say attorneys with WilmerHale.

  • For Law Firm Offices, Business Savvy Is The New Cool

    Craig Braham

    Having embraced the notion that the right space can reinforce the right firm culture, law firm leaders have been evaluating real estate primarily for its physical properties. However, It's hard to be collegial, even in the coolest of in-house coffee bars, if your cost structure is untenable, says Craig Braham of Advocate Commercial Real Estate Advisors LLC.

  • Fiduciary Rule's Impact On IRA Annuity Recommendations

    Fred Reish

    Here, attorneys with Drinker Biddle & Reath LLP focus on the prohibited-transaction exemptions that are available to broker-dealers when their registered representatives recommend annuities to individual retirement account investors and the factors that firms may want to consider in deciding which exemption to use during the new fiduciary rule’s transition period.

  • How To Avoid Portfolio Co. Valuation Risks

    Joshua Newville

    For private fund advisers that are registered with the U.S. Securities and Exchange Commission, valuation will always be a key component of any exam. Over the past year, the SEC has requested information from mutual fund companies about how they value private technology companies, looking for discrepancies, say attorneys with Proskauer Rose LLP.

  • The Best Documents In Your Case May Be From 3rd Parties

    Wyatt Dowling

    Cases are built on evidence and evidence comes from discovery. But discovery is largely a voluntary process. Serving a document subpoena on a third party can be an efficient and creative way to fill in the gaps that may exist in the productions of opposing parties, says Wyatt Dowling of Yetter Coleman LLP.

  • Planning A Legal Career With A Future Relocation In Mind

    Jacqueline Bokser LeFebvre

    Lawyers move to New York City to work on some of the most sophisticated work the legal market has to offer. This exposure and experience is an amazing asset and many of the skills developed will make associates very marketable in the event they consider relocating to another market. However, this isn’t always the case, says Jacqueline Bokser LeFebvre of Major Lindsey & Africa.

  • 4 Female Perspectives On BigLaw Leadership

    Regina Pisa

    Only a handful of the largest U.S. law firms are led by women. Here, in their own words, are perspectives from Shook Hardy & Bacon Chair Madeleine McDonough, Crowell & Moring Chair Angela Styles, Morgan Lewis & Bockius Chair Jami Wintz McKeon and Goodwin Procter Chair Emeritus Regina Pisa.

  • The Elephant In The Room: Advancing Women To Partnership

    Anusia Gillespie

    Despite more focus and investment, the numbers continue to show little progress in advancing women to the top tiers of firm leadership. Considering the irreversible nature of the transformation of the market for top talent, it is time to start experimenting and innovating from the core, rather than from the periphery, say Anusia Gillespie and Scott Westfahl of Harvard Law School.

  • How Midsize Law Firms Can Minimize Cybersecurity Threats

    K. Stefan Chin

    It can be challenging for midsize law firms to develop an enterprise cybersecurity program that mitigates the eminent threat of data breach and meets the regulatory and compliance requirements of the firm and its clients. This challenge becomes daunting when considering the steady rise in client audits, say K. Stefan Chin of Peckar & Abramson PC and John Sweeney of Logicforce.