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  • January 23, 2019

    BNY Mellon Can't Pause Trust Beneficiaries' Fee Suit

    A Massachusetts federal judge denied a request by The Bank of New York Mellon Corp. on Wednesday to prevent a group of trust beneficiaries in a class action from notifying class members about the case while the bank waits for the First Circuit to consider its appeal.

  • January 23, 2019

    Ex-Barclays Chiefs Duped Shareholders, Atty Tells Court

    Four former Barclays PLC directors fraudulently deceived the bank’s shareholders by failing to declare additional fees they paid to Qatari investors at the height of the financial crisis and by using other agreements as a “smokescreen” to cover their tracks, prosecutors told a jury in London on Wednesday.

  • January 22, 2019

    Man Accused Of $2B Fraud In Africa Says He's No Flight Risk

    A former lead salesman for Abu Dhabi-based shipbuilder Privinvest on Monday asked a New York federal judge to let him out on bail following his indictment over alleged involvement in a $2 billion bribery and investor fraud scheme, saying a $20 million bail package with 24/7 private security would ensure he shows up in court.

  • January 22, 2019

    Top Quantlab Investor Urges Chancery To Kill Control Bid

    An attorney for the majority unitholders of Quantlab Group LP urged a Delaware vice chancellor Tuesday to reject minority investor claims to continuing and allegedly outsized rights under a disputed voting trust agreement, with control of a billion-dollar-plus business in the balance.

  • January 22, 2019

    FINRA Targets Online Distribution, Compliance As 2019 Focus

    The Financial Industry Regulatory Authority will put a spotlight on online securities distribution platforms and compliance with new rules and disclosure obligations as it looks for the first time toward risk monitoring, the brokerage watchdog said Tuesday in its annual examination letter.

  • January 22, 2019

    Deutsche Whistleblower Claimants Seek To Make SEC Pay

    Two consultants and an anonymous tipster urged the Second Circuit on Tuesday to make the U.S. Securities and Exchange Commission give them a cut of the $55 million fine that Deutsche Bank AG paid to settle claims over risky derivatives, saying the agency was wrong to deny them payouts under its whistleblower program.

  • January 22, 2019

    Citi Issues €1B Inaugural Green Bond To Fund Enviro Goals

    Citigroup Inc. said Tuesday that it has issued its first green bond, which will be used to fund renewable energy and conservation efforts and was issued via €1 billion ($1.1 billion) three-year fixed-rate notes.

  • January 22, 2019

    IHeartMedia Gets Court's Stamp Of Approval On Ch. 11 Plan

    A Texas bankruptcy judge on Tuesday confirmed iHeartMedia Inc.’s plan to reorganize and shed more than $10 billion in funded debt, paving a path for the broadcast media giant to emerge from Chapter 11 proceedings untethered from its billboard subsidiary.

  • January 22, 2019

    Another Former Wilmington Trust Officer Gets Prison Time

    Former Wilmington Trust Corp. executive Joseph Terranova was sentenced Tuesday to 21 months in prison by a Delaware federal judge, the seventh of the bank’s former officers to get prison time for his role in a securities fraud scheme in which bad loans were hidden from regulators and investors.

  • January 22, 2019

    2 In Life Time Fitness Insider Trading Suit Must Face Charges

    Two men must face insider trading and conspiracy charges after an Illinois federal judge on Tuesday found plausible the government's allegations they had illegally traded Life Time Fitness Inc. call options when they learned that the company was going private.

  • January 22, 2019

    Hong Kong Fintech Co. Picks LSE Tech For Crypto Platform

    The London Stock Exchange is looking to make a splash in the cryptocurrency market, saying Tuesday that its proprietary trading technology will be used in connection with the digital asset exchange of Hong Kong-based financial technology firm Atom Group.

  • January 22, 2019

    Fiat Chrysler's Liability 'Undisputed' In Fraud Suit: Investors

    Investors in Fiat Chrysler Automobiles have told a New York federal judge that the automaker's liability for stock drops tied to alleged misstatements about its compliance with safety and emissions regulations is "undisputed" and should carry their suit through the summary judgment phase.

  • January 22, 2019

    Cadwalader Nabs Fintech Pro From Latham

    A fintech expert and Wall Street vet has joined Cadwalader Wickersham & Taft LLP from Latham & Watkins LLP, bringing clients like Thesys Technologies to continue her work helping to build key financial services projects like the consolidated audit trail database.

  • January 22, 2019

    Securities Group Of The Year: Williams & Connolly

    A Supreme Court win narrowing a Dodd-Frank Act provision's scope and a successful defense in the first prosecution of an individual connected with the U.S. Treasury's Troubled Asset Relief Program, among other successes, landed Williams & Connolly LLP a spot among Law360's 2018 Securities Groups of the Year.

  • January 22, 2019

    Attys Awarded $15.5M In Fees After Stanford Ponzi Deal

    A Texas federal judge has awarded fees of nearly $15.5 million to the attorneys representing a court-appointed receiver and a group of investors in their suit against Proskauer Rose LLP over its former partner's participation in R. Allen Stanford's $7 billion Ponzi scheme.

  • January 22, 2019

    Akerman Hires 2 Ex-Hogan Lovells Compliance Pros In DC

    Two former Hogan Lovells partners specializing in white collar defense and compliance — one of whom led a U.S. Securities and Exchange Commission branch during the Enron scandal — have joined Akerman LLP in Washington, D.C.

  • January 22, 2019

    Danske Bank Faces Suit In €200B Money Laundering Scandal

    Danske Bank AG is facing the threat of a lawsuit over a €200 billion ($230 billion) money laundering scandal after a litigation funder said Tuesday it intends to back a shareholder action against the Danish lender.

  • January 18, 2019

    Madoff Investors Can't Evade Clawback By Withdrawing Claim

    A Manhattan bankruptcy judge rejected arguments by three “net winners” in the Madoff Ponzi scheme on Friday that he lost authority to hear a $2.8 million clawback action against them when they dropped their own claim against the bankruptcy estate.

  • January 18, 2019

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen former Rabobank trader Anthony Conti sue his old employer, ArcelorMittal take Essar’s investment manager to court months after acquiring its steel business, and the managing director of AlixPartners sue a prominent Irish businessman and a British property tycoon. Here, Law360 looks at those and other new claims in the U.K.

  • January 18, 2019

    Prison Co. Stock’s Non-Reaction To Disclosures Dooms Cert.

    A Tennessee federal judge declined Friday to certify a class of investors who allege that private prison operator CoreCivic Inc. misrepresented its safety, security and rehabilitation standards, saying shares of the company didn’t decline when the supposed misstatements were first revealed.

Expert Analysis

  • US And Australia Tackle Fintech Regulation Together

    Jonathon Ellis

    The latest cooperation agreement between the U.S. Commodity Futures Trading Commission and the Australian Securities and Investments Commission should result in closer engagement on fintech issues, but is unlikely to be used as the primary method for gathering information for enforcement actions, say attorneys at DLA Piper.

  • Artificial Intent: AI On The Trading Floor

    Collin Starkweather

    Illegal market manipulation activities such as spoofing are defined in terms of intent. But with the increasing use of artificial intelligence and machine learning in securities trading, regulators may find it hard to understand why an algorithm makes the choices it does, say Collin Starkweather of Starkweather Economics LLC and Izzy Nelken of Super Computer Consulting.

  • Opinion

    Courts Are Getting It Right On Litigation Funding Discovery

    Matthew Harrison

    Earlier this month, a California federal court denied discovery into the identification of third-party funders with a financial interest in the outcome of an underlying patent infringement action. This decision in MLC v. Micron follows a long line of well-reasoned precedent across U.S. federal courts, say Matthew Harrison and Sarah Jacobson of Bentham IMF.

  • International Law In 2018: Key Developments

    Viren Mascarenhas

    2018 was full of important developments in international law, including a new North American trade treaty, significant litigation at the International Court of Justice, and rulings by various bodies related to environmental, human rights and criminal law, say Viren Mascarenhas and Douglass Cassel of King & Spalding LLP.

  • Zhao’s Spoofing Plea Deal Telegraphs More To Come In 2019

    Lanny Breuer

    In late December, the U.S. Department of Justice quietly secured a guilty plea from Jiongsheng Zhao in Illinois federal court — capping off a year of systematic anti-spoofing enforcement, say Lanny Breuer and Laura Brookover of Covington & Burling LLP.

  • High Court's Emulex Issue Is Narrower Than Some Suggest

    Corban Rhodes

    Some have seen the U.S. Supreme Court’s recent decision to hear Emulex v. Gary Varjabedian as an opportunity to deny investors any ability to bring claims under Section 14(e) of the Securities Exchange Act. This effort is misguided for several reasons, say Corban Rhodes and Anna Menkova of Labaton Sucharow LLP.

  • 4 Critical Questions When Obtaining A Fairness Opinion

    Dayton Nordin

    Due to the increase in shareholder activism and greater focus on board accountability, fairness opinions in M&A deals are more important than ever, say Dayton Nordin and Mayis Kirakosyan of EY.

  • Diversity's Next Step: Developing Minority Partners

    Chris King.jpg

    The lack of minority partners comes at a high cost to firms, say attorneys at Lightfoot Franklin & White LLC, as they suggest several practical ways to tackle this problem.

  • Nuts And Bolts Of The IRS' Proposed Anti-Hybrid Regulations

    Thomas Humphreys

    In December, the IRS proposed regulations under two new sections of the Internal Revenue Code aimed at hybrid arrangements — transactions by multinational companies subject to corporate income tax in one national jurisdiction but not another. Attorneys at Mayer Brown LLP discuss the scope of the rules and which transactions may be affected.

  • A 2019 Field Guide To Calif. Class Actions

    William Stern

    For those navigating the California class action landscape in 2019, it pays to know what happened in 2018. William Stern of Covington & Burling LLP looks back at the most important developments and discusses what to expect going forward.