A Delaware bankruptcy judge on Monday approved a request by coal mining company Cloud Peak Energy to pay $26 million in fees to its Chapter 11 professionals over objections by insurers insisting $280 million in surety bond claims should get equal priority.
Bausch Health Cos. Inc. and its brass on Friday sought to shed a securities fraud lawsuit that alleges the company engaged in a price-gouging scheme that cost investors billions, telling a New Jersey federal judge that investors' claims came too late.
As the coronavirus pandemic pushes into the summer, Law360 is taking a look at the enforcement actions and trading suspensions the SEC has issued in connection with the virus since it captured the public consciousness earlier this year.
A Florida federal judge remanded an alleged $35 million cryptocurrency Ponzi scheme case to state court Monday, saying the lower court where the lawsuit originated has jurisdiction to hear the claims against the perpetrators of the "uncovered securities" enterprise.
A New Jersey federal judge on Monday refused to toss a proposed class action against Immunomedics Inc. after concluding that a shareholder had improved his complaint alleging the biopharmaceutical company misled investors into expecting it would present new drug results at upcoming conferences of the American Society of Clinical Oncology.
Investors Bank is reportedly seeking to sell its $48 million loan backed by a Brooklyn building, an Investcorp venture may give a Florida mall back to its lenders, and Omninet Capital has reportedly paid a combined $78 million for two Los Angeles County office complexes.
Perkins Coie LLP added an experienced attorney to its corporate and securities practice from K&L Gates LLP in Dallas last week, adding to its expanding Texas operations.
A real estate investment trust in New York has agreed to drop its lawsuit accusing the Royal Bank of Canada of using the COVID-19 pandemic as an opportunity to illegally seize and sell off the trust's assets at fire-sale prices.
The latest of several proposed class actions alleging JPMorgan Chase has been manipulating futures markets since 2009 though the illegal trading strategy called spoofing was filed Friday in Illinois federal court.
In this edition of Coronavirus Q&A, two of Goulston & Storrs' real estate leaders discuss the challenges of reopening in Boston and beyond, and note that trouble could be looming later this year for the multifamily sector.
The U.S. Securities and Exchange Commission won terminating sanctions and a default judgment against Blockvest LLC after a California federal court found that the cryptocurrency company's founder had submitted fake documents during the litigation.
The U.S. Supreme Court on Monday declined to hear an appeal of a Second Circuit ruling that the trustee for Bernie Madoff's fraudulent investment firm can claw back billions in Ponzi scheme proceeds transferred from foreign Madoff feeder funds to other foreign parties.
The U.S. Supreme Court on Monday unanimously ruled that members of Puerto Rico's Financial Oversight and Management Board do not require U.S. Senate approval because the board's handling of the island's $125 billion bankruptcy is limited to Puerto Rico's fiscal issues and it only exercises local, territorial authority.
An organization headed up by a former chairman of the U.S. Commodity Futures Trading Commission on Friday published a white paper proposing an approach for developing a national digital currency, highlighting that the economic fallout from the coronavirus pandemic underscores the utility for such an initiative.
A private equity investor that sat out an appraisal suit challenging a tech company's 2013 cash-out merger price, only to see the Delaware Chancery Court set a price 2.6-times higher for those who did, waited too long to sue the company's controllers afterward, a Delaware vice chancellor ruled Friday.
At least 50 federal securities cases with references to COVID-19 have been filed in the past three months, including merger challenges, regulatory enforcement actions and sprawling investor suits, according to a Law360 review of filings. As the pandemic pushes into the summer, Law360 is taking a look at eight major investor actions that were brought in connection with the novel coronavirus since March.
U.S. Bank NA shot back at Commerzbank's bid to reconsider a court order trimming the German bank's suit over U.S. Bank's stewardship of pre-crisis residential mortgage-backed securitization trusts, telling a New York federal court that its ruling resolved several issues and needs "no epilogue."
An international standards group for the securities market said Friday that although the COVID-19 pandemic may cause difficulty for companies in making financial statements, it nonetheless called on corporations to try to be "fair" and transparent in their disclosures.
Two title and insurance companies being sued by investors over an alleged Ponzi scheme have asked a California state judge to disqualify Latham & Watkins LLP from representing the investors, saying Latham's defense of the companies in a previous Ponzi case gives the firm a conflict as it goes against the businesses now.
The tidal wave of corporate debt offerings in recent months has enabled companies to raise billions in cash and gain much-needed breathing room to navigate the coronavirus pandemic, setting records and ushering in several first-of-their kind deals along the way.
A couple that lost over $2 million in a fraudulent "pump and dump" investment scheme can deduct theft losses to recover a portion of their funds, the Federal Circuit said Friday in reversing a denial of their tax refund bid.
U.S. securities regulators told a California federal judge that Volkswagen knowingly misled bond investors by failing to disclose its "clean diesel" emissions cheating scheme, so it's still on the hook for securities fraud even after reaching settlements with other agencies.
The U.S. Securities and Exchange Commission ordered an Austin, Texas-based investment adviser to pay nearly $322,000 on Friday, claiming the firm failed to keep clients abreast of fees tied to investments in certain mutual funds over a more than five-year period.
The receiver for a Florida investment firm at the center of an alleged $39 million fraud scheme has reached agreement with the U.S. Securities and Exchange Commission for entry of a permanent injunction against the company and related entities.
ViewRay Inc. has urged an Ohio federal court to toss a proposed securities class action accusing the MRI radiation technology company of inflating its order backlog, chalking the matter up to the "growing pains" of an early-stage company.
Independent directors at mutual fund complexes should consider their fiduciary roles and the underlying reasoning behind recent Mutual Fund Directors Forum guidance suggesting that boards regularly destroy meeting minutes and notes in order to avoid misinterpretation and potential litigation, says Aaron Morris at Barr Law Group.
The current decrease in formality and increase in common ground due to the work-from-home environment can make it easier to have a networking conversation, says Megan Burke Roudebush at Keepwith.
One mistake that attorneys commonly make when presenting a case to a third-party funder is focusing almost exclusively on liability and giving short shrift to the damages analysis — resulting in an aspirational damages estimate that falls apart under scrutiny, say Cindy Ahn and Justin Maleson at Longford Capital and Casey Grabenstein at Saul Ewing.
Attorneys at WilmerHale highlight recent developments in privilege law, the significant challenges raised by nontraditional working arrangements popularized during the pandemic, and ways to avoid waiving attorney-client privilege when using electronic communications.
Cash-strapped companies looking for alternative sources of capital during the pandemic can take advantage of private equity funds’ newfound willingness to make minority investments, which can bring managerial, financial, technical and industry expertise to a business in exchange for considerable control over ongoing operations, say attorneys at Winston & Strawn.
While pulling off an effective summer associate program this year will be no easy feat, law firms' investments in their future attorneys should be considered necessary even during this difficult time, says Summer Eberhard at Major Lindsey.
The recent large drop in oil prices — and in the prices of futures contracts tied to oil — resulting from the COVID-19 pandemic has generated substantial losses for many retail investors, and precedent suggests this may lead to a wave of litigation against fund managers, say economists at Bates White.
Attorneys at WilmerHale analyze Securities Act complaints against companies that went public immediately prior to and during the COVID-19-induced market volatility, providing preliminary insights into whether, when and on what basis recent issuers are facing securities litigation.
The COVID-19 shift to remote witness testimony in white collar and U.S. Securities and Exchange Commission investigations changes how both sides handle documents, investigate and interact, and will require defense lawyers to reconsider how they present their clients, say attorneys at Richards Kibbe.
History suggests that legal malpractice claims will rise following the current economic downturn, and while a certain percentage of the claims will be unavoidable, there are prophylactic steps that law firms can take, says John Johnson at Cozen O'Connor.
The U.S. Supreme Court’s upcoming opinion in Liu v. U.S. Securities and Exchange Commission may call into question when Foreign Corrupt Practices Act settlements should be subject to disgorgement, say Matthew Rutter and Neal Hochberg at Charles River Associates.
Concerns that videoconferenced arbitration hearings compromise an arbitrator's ability to reliably resolve credibility contests are based on mistaken perceptions of how many cases actually turn on credibility, what credibility means in the legal world, and how arbitrators make credibility determinations, says Wayne Brazil at JAMS.
Lawyers investigating allegations of a company's internal misconduct typically hand over their search term lists to outside auditors and government enforcers, but this puts clients' privilege arguments at risk, say Markus Funk and Chelsea Curfman at Perkins Coie.
Luckin Coffee and TAL Education Group — two high-profile Chinese companies listed in the U.S. — recently announced suspected cases of colossal revenue fraud, and these case studies may help companies recognize the germinating seeds of accounting fraud, say Fabian Roday at Fangda Partners and William Fotherby at Meredith Connell.
A recent commitment from the European Union's commissioner for justice to introduce rules for mandatory corporate human rights due diligence next year may signal the arrival of this issue as a global business imperative, making it as fundamental as anti-corruption diligence, say attorneys at Paul Hastings.