The last week has seen a Russian businessman's telecom company forge ahead with a commercial fraud claim against Russia's VTB bank, ED&F Man Capital Markets sue a rival brokerage and U.K. insurer RSA initiate the court process to transfer policies to its new Luxembourg unit. Here, Law360 looks at those and other new claims in the U.K.
Morgan Lewis & Bockius LLP has added a finance partner with nearly 20 years of experience to its New York office, according to the firm.
Labaton Sucharow LLP's failed attempt to have the First Circuit remove the judge presiding over a messy $75 million fee fight in State Street's fraud case highlights the dangers of a rare and risky play with a high chance of backfiring and further frustrating a judge the firm already believes to be biased, experts say.
A Second Circuit panel ruled Thursday that the National Credit Union Administration lacks standing to bring claims against residential mortgage-backed securities trustees U.S. Bank and Bank of America on behalf of 10 trusts that the agency created and filled with RMBS and other distressed assets from five failed credit unions.
A Manhattan federal judge on Wednesday granted final approval for two settlements worth a combined $250 million that will see Citigroup Inc. and Barclays Bank PLC exit a massive, seven-year multidistrict litigation from investors who accused multiple banks of conspiring to rig the London Interbank Offered Rate.
The U.S. Commodity Futures Trading Commission said Thursday it will pay three unidentified whistleblowers more than $45 million combined for their roles in enforcement actions that resulted in at least $1 million in sanctions.
A Tennessee federal judge on Thursday kept alive the bulk of a proposed class action from investors accusing KPMG of helping the now-defunct Miller Energy Resources Inc. falsify financials about oil and gas assets, saying there is adequate evidence that the alleged scheme was known to KPMG and caused share prices to fall.
Advised by Cleary Gottlieb Steen & Hamilton LLP, real estate giant Cushman & Wakefield PLC priced its initial public offering at $17 per share before opening Thursday morning, joining wireless speaker company Sonos Inc. to raise a combined $973.5 million.
Attorneys asked a New York federal court for almost $14 million in fees and costs Wednesday for negotiating a $35 million settlement with Facebook Inc. to resolve a consolidated securities class action alleging the social media company misrepresented revenue projections ahead of its 2012 initial public offering.
The London Stock Exchange Group said on Thursday that it is "executing contingency plans" for Brexit to ensure it can continue to function for markets and customers if the U.K. crashes out of Europe without agreeing a transition deal.
The Office of the Comptroller of the Currency’s decision to move forward with its proposed fintech charter has come as welcome news to boosters of the financial technology industry, but financial services attorneys say the agency’s announcement still leaves some uncertainty in the air.
Five people accused of using secret information from the Public Company Accounting Oversight Board to help KPMG LLP ace its examinations were given four more months to plot their defense Wednesday after they complained about the complexity of the evidence.
A Texas federal judge has reduced by $1.6 million attorneys’ fees awarded to the publisher of an energy industry newsletter, ruling the publisher was not entitled to the original fee amount after it rejected a settlement offer from an advising firm it accused of distributing the newsletter without permission.
The Judicial Panel on Multidistrict Litigation on Wednesday denied a bid from Credit Suisse to centralize four putative class actions the bank is facing from investors in its short-term notes inversely related to the stock market’s volatility index, saying there aren’t enough involved parties or lawsuits to warrant centralization.
A New Jersey federal judge dismissed a proposed class action by investors accusing BT Group PLC and top executives of concealing years of mismanagement in the company's Italian division, finding Wednesday that the defendants were likely unaware of any major issues.
A California federal judge said Wednesday she’s inclined to ask the Ninth Circuit to consider whether a putative securities class action brought by an investor in the cryptocurrency Ripple belongs in state court in light of a recent Supreme Court ruling, saying it’s a complicated question that involves an international class.
Wells Fargo Bank NA will pay $2.09 billion to end allegations that the bank misled investors about troubled loans behind its residential mortgage-backed securities ahead of the financial crisis, the U.S. Department of Justice announced on Wednesday.
The New York bankruptcy judge who approved the Chapter 11 restructuring plan for Global Brokerage Inc. said Tuesday he cannot resolve a discovery dispute in a pending derivatives action against the company’s former and current company directors, saying that must be heard by the trial court in Delaware.
Puerto Rico’s governor, its federally appointed oversight board and a group of bondholders on Monday unveiled a tentative plan to restructure the crushing $9 billion debt load of the island’s ailing power utility, even as other creditors vowed to fight for a better deal.
European Union antitrust regulators have accused Credit Suisse of rigging foreign exchange rates, the Switzerland-based bank said in a filing Tuesday.
In this analysis of disciplinary action trends in the legal industry, Edwards Neils LLC managing member Jean Edwards examines data provided by bar organizations for 17 states and the District of Columbia.
With law firms increasingly exposed to professional liability risks associated with their corporate client relationships, firms must craft well-structured client engagement letters to help protect against malpractice claims. Two key elements of an engagement letter are how it defines the scope of engagement and how it handles conflicts of interest, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.
Today, members of Congress often seem able to blame colleagues of the other party for not getting anything done for their constituents. In law practice, you can’t really blame a bad result for your clients on the lawyers on the other side, says former Sen. Joe Lieberman, D-Conn., of Kasowitz Benson Torres LLP.
Assuming that initial coin offerings are securities offerings, issuers must register them with the U.S. Securities and Exchange Commission unless they rely on an exemption from registration. Among the available exemptions from registration, three look well-suited for ICOs, say members of Bates White LLC and Quinn Emanuel Urquhart & Sullivan LLP.
Corporate law departments are increasingly demanding more concessions from outside legal counsel, and presenting engagement letters that open the door to greater professional and cyber liability exposure for law firms — often beyond the scope of their insurance coverage. Firms must add their own language to engagement letters to limit liability, say Stuart Pattison and John Muller of Sompo International Holdings Ltd.
Because of the U.S. Supreme Court’s decision in Lucia, the U.S. Securities and Exchange Commission will have to redo a series of administrative cases, potentially straining resources and possibly prompting the agency to tap new administrative law judges, says Daniel Walfish of Walfish & Fissell LLP.
Being a former member of Congress put me in an advantageous position when I approached law firms in the late '70s, at a time when there were few female lawyers, and even fewer African-American lawyers, in major law firms, says former Rep. Yvonne B. Burke, D-Calif., a director of Amtrak.
This week, the Second Circuit revisited its August 2017 insider trading decision in U.S. v. Martoma, walking back its personal-benefit definition and rejection of Newman. But this new ruling may achieve the same practical result as the first, say David Miller and Grant MacQueen of Morgan Lewis & Bockius LLP.
Popular culture paints the Hill as a place teeming with intrigue, corruption and malicious intent. But in Congress I learned important lessons about respecting people and the work they do, says former Sen. Norm Coleman, R-Minn., of Hogan Lovells.
The new Economic Growth, Regulatory Relief and Consumer Protection Act reforms widely unpopular rules relating to high volatility commercial real estate loans, making it easier to reclassify loans as non-HVCRE acquisition, development and construction loans, say Martin Taylor and Jon Nomura of Troutman Sanders LLP.