Asset Management

  • August 18, 2017

    Icahn Quits Post As Trump Adviser After Conflict Concerns

    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.

  • August 18, 2017

    Banks Shake Singapore Rate-Rigging Claims, For Now

    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.

  • August 18, 2017

    Travelers Ordered To Cover Standard's Charney Suit Defense

    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.

  • August 18, 2017

    Ex-Level Global Exec Says Salman Supports His Vacate Bid

    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.

  • August 18, 2017

    Gardere Guides 3 Major Matters For REIT Ashford Hospitality

    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.

  • August 18, 2017

    NJ Court Nixes DQ Bid In Superstorm Sandy Insurance Row

    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.

  • August 18, 2017

    Wash. Investment Adviser In $3.6M Ponzi Scheme Gets 9 Years

    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.

  • August 18, 2017

    Judge 'Appalled' At Atty's Letter To Ex-Platinum Employee

    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.

  • August 18, 2017

    Ex-Summit CEO Gets 8 Years For Investment Fraud Scheme

    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.

  • August 18, 2017

    Puerto Rico Bankruptcy Case Challenge Certified To AG

    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.

  • August 18, 2017

    Schorsch Sues REIT Biz Successor For Defense Costs

    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.

  • August 18, 2017

    Relativity CEO Conned Him Out Of $2M, Investor Claims

    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.

  • August 18, 2017

    Banca IMI Pays SEC $35M Over Foreign Shares Handling

    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.

  • August 18, 2017

    Ex-Citigroup Analyst Defeats FINRA Charges Over Tips

    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.

  • August 18, 2017

    Accused Fraudsters Deny BofA Insider Trading Scheme

    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.

  • August 18, 2017

    Hedge Fund-Backed Peabody Energy Unveils 13M-Share Sale

    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.

  • August 18, 2017

    US Power Giant Calpine To Be Taken Private In $5.6B Deal

    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.

  • August 17, 2017

    Deutsche Bank, BofA Pay $65.5M To Settle In Bond-Fix Suit

    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.

  • August 17, 2017

    Feds Urge Nix Of Ex-Hunton Atty's New Trial, Acquittal Bids

    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."

  • August 17, 2017

    Lehman Attys Tout Progress As 9th Ch. 11 Anniversary Nears

    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.

Expert Analysis

  • What S&P, FTSE Actions Mean For Multiclass Share Structures

    Keith Townsend

    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.

  • 5 Tips For A Successful Legal Blog

    David Coale

    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.

  • OCC Opens The Debate On Volcker Rule Reform

    Andrew Shipe

    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.

  • Series

    Judging A Book: Kopf Reviews Posner's 'Federal Judiciary'

    Judge Richard Kopf

    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)

  • Lehman Ruling Sets Stage For Future Subordination Contests

    John Stigi

    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.

  • How CalPERS V. ANZ Securities Marks Gorsuch's Arrival

    Robert Long

    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.

  • The Use Of Special Masters In Complex Cases

    Shira Scheindlin

    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.

  • Roundup

    Notes From A Law Firm Chief Privacy Officer

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    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.

  • Series

    Notes From A Law Firm Chief Privacy Officer: New Demands

    Phyllis Sumner

    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.

  • Recent Delaware Opinions Shake Up Appraisal Litigation

    Meredith Kotler

    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.