Activist investor and CVR Energy chair Carl Icahn resigned Friday as President Donald Trump’s special regulatory adviser in the wake of conflict of interest questions related to his renewable-fuel market activities and ownership in insurance giant American International Group.
A New York federal judge on Friday partially dismissed a suit alleging more than 20 major worldwide banking institutions rigged Singapore’s benchmark interest rates, saying the investors who brought the case didn’t specifically link all defendants to the alleged conspiracy while giving them time to file a new complaint.
Travelers Indemnity Co. must cover hedge fund Standard General LP's costs to defend a defamation lawsuit brought by American Apparel's ousted CEO Dov Charney, a New York federal judge ruled Friday, finding that a policy exclusion for employment-related claims doesn't bar coverage.
A former Level Global manager on Wednesday pressed a Georgia federal judge to vacate his conviction for trading on inside information from an executive of children’s clothing firm Carter’s Inc., saying the U.S. Supreme Court’s Salman ruling reinforces his position.
Ashford Hospitality Trust recently completed a trio of high-profile deals — a buy, a sale and a refinancing — and Gardere Wynne Sewell LLP helped the real estate investment trust navigate a complex set of zoning, ground lease, condominium and timing issues in guiding the deals to the finish line.
A New Jersey federal judge on Thursday rejected a bid to disqualify an attorney from representing a condo association in its lawsuit over Superstorm Sandy-related flood insurance coverage, finding that the parties accused of not obtaining the proper policies waited too long to bring the motion.
An investment guru who copped to fleecing investors out of more than $3.6 million in a nine-year Ponzi scheme was sentenced in Washington federal court on Thursday to serve nine years in prison and pay his victims more than $3.6 million in restitution.
The New York federal judge overseeing the criminal case against former Platinum Partners executives threatened to throw the book at one of the defendants' Quinn Emanuel Urquhart & Sullivan LLP attorneys on Friday if she hears more of what she deemed “reprehensible” and potentially intimidating contact with could-be witnesses.
The former CEO of Atlanta, Georgia-based Summit Wealth Management on Friday was sentenced to eight years in prison after previously pleading guilty to charges of conspiring to defraud investors of more than $24 million dollars.
The U.S. government was asked Thursday if it would like to respond to a Wall Street investor’s court effort to unravel Puerto Rico’s historic insolvency proceedings, in which the creditor hedge fund argues that the members of the federal board representing the commonwealth were unconstitutionally appointed.
Real estate investment trust mogul Nicholas S. Schorsch sued his former flagship business for defense fee coverage Thursday in Delaware’s Chancery Court, accusing the firm of refusing to honor agreements to pay and claiming that delays threaten his efforts in multiple proceedings.
A hedge fund investor sued Relativity Media CEO Ryan Kavanaugh in California court Thursday, claiming the studio founder went to “unscrupulous lengths” to get him to loan $2 million to the company just before it went bankrupt, using his prior $10 million investment as leverage.
Banca IMI Securities Corp., a subsidiary of Italian bank Intesa Sanpaolo SpA, will pay more than $35 million to settle U.S. Securities and Exchange Commission charges that BISC received American shares of foreign companies without owning the underlying securities, the SEC said Friday.
A panel of Financial Industry Regulatory Authority officers has dismissed allegations a former Citigroup research analyst improperly passed on info concerning Medtronic Inc.’s merger with Covidien PLC, ruling there was no evidence the analyst gave out material non-public information.
Two tutoring company executives, a union official and a software engineer on Friday denied their roles in a $5 million insider trading scheme, in which a former Bank of America vice president is accused of doling out confidential merger information he obtained from the bank.
Hedge fund-backed coal producer Peabody Energy Corp., which recently exited Chapter 11 bankruptcy protection and began trading its stock publicly again, on Friday announced a secondary offering that will allow stockholders to sell 12.8 million shares in a deal advised by three law firms.
Texas-based Calpine Corp., a North American power giant that serves customers in 25 states, Canada and Mexico, will be taken private in a deal worth $5.6 billion, according to a Friday statement.
Bank of America NA and Deutsche Bank AG have agreed to pay a collective $65.5 million to settle with investors over a purported scheme to rig the SSA bond market, according to settlement proposals filed Thursday.
Federal prosecutors urged a New York federal court on Wednesday to deny former Hunton & Williams LLP patent lawyer Robert Schulman's bids for acquittal and a new trial, saying his new arguments about the government's supposed failure to prove a single insider trading conspiracy between him, his investment adviser and a friend of the adviser are "meritless."
As the ninth anniversary of Lehman Brothers’ historic collapse approaches, attorneys overseeing the wind-down of the former banking giant reported Thursday that over the past year, the estates have doled out $7 billion to creditors and wrapped up all bankruptcy court claims brought against Lehman Brothers Inc.
Recent actions by the S&P Dow Jones and FTSE Russell highlight growing concerns within the investment community regarding multiclass voting structures. However, it is unlikely these actions will have a uniform impact on every multiclass company, say attorneys with King & Spalding LLP.
David Coale, leader of the appellate practice at Lynn Pinker Cox & Hurst LLP, shares his insights into what works — and what does not — when setting up and maintaining a legal blog.
The Office of the Comptroller of the Currency recently issued an advance notice of proposed rulemaking that represents the first concrete step toward reforming the regulations that implement the Volcker Rule. The OCC’s willingness to issue the ANPR reflects a forward-thinking approach that will have a significant long-term impact on financial market participants, say attorneys with Arnold & Porter Kaye Scholer LLP.
There is a wonderful sketch of Seventh Circuit Judge Richard Posner dressed in a black robe with arms outstretched as if they were the billowing wings of a lean vulture. He is kicking a human brain down a hallway and wearing a half-smile that looks for all the world like a sneer. That sketch is the perfect metaphor for both Judge Posner and his new book, "The Federal Judiciary: Strengths and Weaknesses," says U.S. District Judge Ri... (continued)
The Second Circuit's determination that former Lehman Brothers employees' restricted stock units are securities is important to creditors seeking to safeguard their priority position among bankruptcy claimants, say John Stigi and Christopher Bosch of Sheppard Mullin Richter & Hampton LLP.
The 5-4 U.S. Supreme Court decision in California Public Employees’ Retirement System v. ANZ Securities was the first in which we saw Justice Neil Gorsuch’s view of securities liability — he represented the crucial fifth justice joining the majority opinion, say Robert Long of Alston & Bird LLP and Edgar Neely.
Special master appointments can be very beneficial in resolving disputes quickly, streamlining discovery, handling delicate settlement negotiations, and — somewhat surprisingly — reducing cost and delay, says retired U.S. District Judge Shira Scheindlin, now with JAMS.
As more law firms become the targets of major cyberattacks, more firms may consider appointing a chief privacy officer. In this series, CPOs at four firms discuss various aspects of this new role.
For outside counsel, oftentimes efficiency and responsiveness collide with security measures as clients are increasingly requiring their law firms to comply with third-party risk management programs. To meet these challenges, law firms are focusing more on the roles of chief privacy officer and chief information security officer, says Phyllis Sumner, chief privacy officer for King & Spalding LLP.
In the space of less than two weeks, the Delaware courts issued two landmark appraisal decisions that, when combined with recent statutory changes, likely will dampen “appraisal arbitrage” activities going forward, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.