We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Securities

  • June 18, 2018

    Baker Botts Attracts Capital Markets Partner In Houston

    Baker Botts LLP has added a former Kirkland & Ellis LLP attorney as a capital markets partner with a focus on debt and equity capital markets transactions, corporate governance and compliance in Houston, the firm announced Monday.

  • June 18, 2018

    In Their Own Words: Minority Partners On Reaching The Top

    Despite decades of industrywide initiatives, movement up the ladder has stagnated for minority lawyers. Here, five industry success stories tell Law360 about the paths they took and what needs to change in BigLaw.

  • June 18, 2018

    JPMorgan To Pay CFTC $65M Over ISDAfix Rigging

    The Commodity Futures Trading Commission said Monday that banking giant JPMorgan Chase has agreed to pay a $65 million civil penalty for allegedly trying to manipulate a global benchmark tied to an array of interest-rate related derivative products such as swaps and options.

  • June 18, 2018

    Celebrity Restaurateur Faces Remand Move By Investors

    A couple who accused celebrity chef Jose Garces of cheating his New York City restaurant's investors out of returns want their suit hashed out in New Jersey court instead of getting folded into his Chapter 11 case, arguing that their claims have nothing to do with his bankruptcy.

  • June 18, 2018

    $340M Ch. 11 Sale Of Nine West, Bandolino Brands Approved

    Nine West Holdings Inc. received bankruptcy court approval on Monday to sell its namesake women’s fashion business as well as its Bandolino brand to Authentic Brands Group for $340 million in cash, a sum nearly 75 percent higher than the purchaser’s stalking horse bid.

  • June 18, 2018

    Fiat Investors Win Cert. In Emissions-Fraud Losses Suit

    A New York federal judge certified a class of Fiat Chrysler investors in a stock-drop suit alleging the automaker lied about using emissions-cheating devices in vehicles in an effort to inflate the company's stock price.

  • June 18, 2018

    Texas State Senator Convicted Of Fraud Resigns

    A Texas state senator convicted of money laundering, securities fraud and other charges tied to an alleged scheme involving a fracking company announced on Monday that he plans to resign from office, after previously saying he did not plan to step aside despite the conviction.

  • June 18, 2018

    SEC Delays Action On NYSE Venue Plan To List Bitcoin ETFs

    The U.S. Securities and Exchange Commission delayed deciding on a rule change submitted by a New York Stock Exchange venue seeking to list its first two exchange-traded funds based on the value of bitcoin, saying it needs more time to review the proposal.

  • June 18, 2018

    Ex-Trucking Co. Execs Charged With $245M Accounting Fraud

    The U.S. Department of Justice accused two former Roadrunner Transportation Systems Inc. executives of running a complex accounting and securities fraud scheme that resulted in more than $245 million in losses for shareholders who invested in the publicly traded trucking company.

  • June 18, 2018

    Former State Street Exec Mulls Testifying In His Fraud Trial

    A former head of global asset transitions at State Street's Boston headquarters will decide, potentially with less than 24 hours' notice, whether to take the stand this week to rebut charges that he hid millions of dollars in fees from some of the bank's biggest clients, his attorney said in federal court Monday.

  • June 18, 2018

    High Court Agrees To Review Banker's Copy-Paste Fraud

    The U.S. Supreme Court agreed on Monday to review a D.C. Circuit decision finding that an investment banker who copied and pasted his boss' allegedly fraudulent email about an energy investment into a message to clients is himself liable for fraud.

  • June 15, 2018

    Minority Lawyers On Why They Left BigLaw

    Despite the proliferation of diversity committees and inclusion initiatives, corporate law firms remain overwhelmingly white and male, especially at leadership levels. Here, minority attorneys discuss their reasons for leaving a large firm.

  • June 15, 2018

    Taking On The ‘Petri Dish’ Of BigLaw Bias

    The often-informal processes for deciding matters like compensation at law firms can create, as one expert put it, a “petri dish” for the effects of unconscious bias. Here’s how some firms are looking to shake up the system.

  • June 15, 2018

    The Best Firms For Minority Attorneys

    While U.S. law firms have long vowed to make their ranks more diverse and inclusive, the industry has long failed to deliver on those promises. Here are the firms making some headway, according to this year’s Diversity Snapshot.

  • June 15, 2018

    Law360’s Diversity Snapshot: By The Numbers

    Efforts to increase diversity have again yielded few meaningful changes in law firm demographics, according to Law360’s annual headcount survey, even as law schools continue to enroll students of color in increasing numbers.

  • June 15, 2018

    Law360’s Pro Say: What BigLaw Should Do About Diversity

    For years law firms have had programs aimed at increasing attorney diversity, but nothing is working. On this week’s Pro Say podcast we take a look at our latest survey of diversity at law firms, and unpack what experts say are the things that could actually move the needle on this issue.

  • June 15, 2018

    Indian Bank Seeks Ch. 11 Exam Of Alleged Fraudster, Others

    Punjab National Bank, the alleged victim of a seven-year, billion-dollar bank fraud by diamond mogul Nirav Modi and his uncle, asked a New York bankruptcy court on Thursday for permission to subpoena Modi and others connected to three Modi-linked jewelry companies that are under court protection in the U.S.

  • June 15, 2018

    JPML Bundles CBOE Index Manipulation Suits In Chicago

    The Judicial Panel on Multidistrict Litigation on Thursday sent several suits alleging an unlawful manipulation of the Chicago Board Options Exchange's volatility index to Chicago federal court, saying the move will ensure efficiency and consistency while litigating the case’s complex issues.

  • June 15, 2018

    NJ Advisory Firm Loses Registration Over Phony Securities

    New Jersey’s securities enforcement unit revoked a Morris County investment firm’s registration on Friday after its owner sold $6.1 million in unregistered securities to elderly and retired residents and took money from the sales for personal use.

  • June 15, 2018

    SEC, Ex-Brokerage Execs Battle For Quick Wins In Fraud Suit

    The U.S. Securities and Exchange Commission asked a Pennsylvania federal court on Friday for a quick win in its suit alleging two former transition management brokerage executives bilked clients with hidden costs, but the executives have mounted a rival bid to get the case thrown out as untimely.

Expert Analysis

  • Defining A Shareholder's Bankruptcy Veto Power

    Sarah Borders

    The Fifth Circuit's recent decision in Franchise Services of North America should give comfort to investors that seek to negotiate consent rights with respect to a bankruptcy filing. The fact that an investor also holds a claim against the company will not, in and of itself, invalidate a bankruptcy consent provision, say attorneys with King & Spalding LLP.

  • Impediments To Legal Industry's 'Inevitable' Future: Part 1

    Craig Levinson

    Legal pundits continue to make predictions that newer entrants into the industry — NewLaw firms, the Big Four and alternative legal service providers — will progressively seize greater amounts of market share from traditional law firms. But the BigLaw response has been underwhelming at best, and a glimpse at the market forces puts its lack of urgency into perspective, says Craig Levinson, founder of Levity Partners.

  • Credit Default Swaps And The Hovnanian Exchange Offer

    Anthony Nolan

    The recently completed exchange offer for K. Hovnanian Enterprises’ senior notes has roiled the world of credit default swaps — at least one lawsuit has been filed and regulators have expressed concerns about market manipulation. Anthony Nolan and Hilda Li of K&L Gates LLP explain why the Hovnanian debt restructuring has stoked concern about the integrity of the CDS market.

  • FCPA Enforcement Activity In Early 2018: Part 2

    Collmann Griffin

    The first quarter of 2018 was above average in terms of Foreign Corrupt Practices Act investigations closed by U.S. regulators without enforcement. But the government may return to more assertive enforcement in the future — and companies and individuals may still face liability long after the "completion" of any misconduct, says Collmann Griffin of Miller & Chevalier Chtd.

  • How Immigration Issues Can Sour M&A Deals

    Christine Fuqua Gay

    Because the U.S. Department of Homeland Security's E-Verify program is frequently overlooked and misunderstood, immigration compliance issues have become more common in mergers and acquisitions and a basis of post-closing claims, such as those alleged in Post Holdings v. NPE Seller Rep, currently pending in the Delaware Chancery Court, say Christine Fuqua Gay and Ashley Hamilton of Holland & Knight LLP.

  • FCPA Enforcement Activity In Early 2018: Part 1

    Collmann Griffin

    Enforcement of the Foreign Corrupt Practices Act was relatively slow during the first quarter of 2018, with only three fairly low-value corporate enforcement actions announced between January and March of the year. But the announced second quarter settlements and likely future dispositions suggest that 2018 still may be an active year overall for FCPA enforcement, says Collmann Griffin of Miller & Chevalier Chtd.

  • Opinion

    SEC Should Expand Opportunities For Mr. And Mrs. 401(k)

    Dina Ellis Rochkind

    As the U.S. Securities and Exchange Commission considers raising the standard of conduct applicable to investment advisers with respect to their retail clients, it should also consider loosening the restrictions that inhibit retail investors from gaining access to privately placed securities and other alternative investments, say Dina Ellis Rochkind and Joshua Downer of Paul Hastings LLP.

  • Kokesh And Its Impact On SEC Enforcement, A Year Later

    Matthew Solomon

    One year ago, the U.S. Supreme Court ruled in Kokesh that the U.S. Securities and Exchange Commission’s disgorgement remedy is subject to a five-year statute of limitations. This has had a quantifiable effect on the agency’s enforcement program, say attorneys with Cleary Gottlieb Steen & Hamilton LLP.

  • Opinion

    Why Widespread Use Of Live Video Testimony Is Not Justified

    Geoffrey Wyatt

    Despite the partiality some courts have shown to live video testimony, it provides no advantages — and several disadvantages — over the tried-and-true method of videotaped depositions, say attorneys with Skadden Arps Slate Meagher & Flom LLP.

  • Series

    Judging A Book: Wallach Reviews 'Uncivil Warriors'

    Judge Evan Wallach

    "Uncivil Warriors: The Lawyers' Civil War," by Peter Hoffer, is a new book about the involvement of lawyers on both sides in the American Civil War. The discussion is enlightening and often fascinating, but falls short in several key areas, says Federal Circuit Judge Evan Wallach.