Asset Management

  • February 09, 2024

    Fund Formation Group Of The Year: Simpson Thacher

    Simpson Thacher & Bartlett LLP's fund formation practice advised private equity behemoth Blackstone in 2023 on a $30.4 billion successor real estate fund, one of the milestones earning the group a spot in Law360's Fund Formation Groups of the Year.

  • February 09, 2024

    CORRECTED: 11th Circ. Says Guilty Plea Sinks Appeal In Investment Fraud Case

    The Eleventh Circuit declined to take up the appeal of a man who pled guilty to wire fraud after being accused of stealing investment funds from a wealthy widow, ruling that his plea was unconditional. Correction: A previous version of this story misidentified the defendant and had an incorrect case number and counsel information. The errors have been corrected.

  • February 09, 2024

    NY AG Seeks $2B More From Genesis Parent Co. In Fraud Suit

    New York's attorney general filed an expanded complaint Friday accusing Digital Currency Group and other cryptocurrency companies of defrauding customers out of more than $3 billion, shortly after reaching a settlement with its subsidiary Genesis Global Capital in its bankruptcy case.

  • February 09, 2024

    Taxation With Representation: Sullivan & Cromwell, Kirkland

    In this week's Taxation With Representation, California Resources Corp. acquires Aera Energy, ZeroFox Holdings goes private, and Acerinox purchases Haynes International.

  • February 08, 2024

    High Court Ruling Solidifies SOX Whistleblower Protections

    The U.S. Supreme Court's unanimous decision Thursday in favor of a UBS whistleblower has solidified whistleblower protections across a wide range of industries, with one attorney saying the ruling has made the Sarbanes-Oxley Act the most pro-employee labor law in the country.

  • February 08, 2024

    Fed, OCC Urged To Create 'Unaffiliated' Director Rule For Banks

    The Federal Reserve Board and Office of the Comptroller of the Currency were petitioned Thursday to issue new rules mandating that large banks appoint at least some outside, independent directors to their boards as a safeguard against conflicted decision-making within big corporate families.

  • February 08, 2024

    SEC Fights Hedge Fund Priest's Fee Bid After Mixed Verdict

    The U.S. Securities and Exchange Commission has urged a Massachusetts federal judge not to grant more than $1.7 million in attorney fees to a Greek Orthodox priest and hedge fund manager who fended off some of the agency's claims at trial, saying there is no justification for giving "adjudicated fraudsters money for their legal fees."

  • February 08, 2024

    5th Circ. Skeptical Of Gatekeeper Clause In Highland Ch. 11

    A Fifth Circuit panel on Thursday appeared to balk at a provision in financially troubled investment firm Highland Capital Management LP's reorganization plan that requires court approval for parties to bring claims against the estate, suggesting the measure was an unnecessarily blunt instrument to prevent frivolous litigation.

  • February 08, 2024

    M&T Bank's Freeze 'Crumbled' Fla. Law Firm, $1.5M Suit Says

    A Florida law firm has sued M&T Bank for $1.5 million in Tampa federal court over allegations that the bank "crumbled" the firm's business by unreasonably restricting its trust account during a recent chargeback dispute.

  • February 08, 2024

    SEC, CFTC Jointly Demand More Hedge-Fund Disclosures

    The U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission jointly passed rules Thursday requiring additional disclosures from hedge funds and other private fund advisers, aimed at improving market stability and transparency, despite dissent from Republican commissioners of both agencies who say the requirements are overreaching.

  • February 08, 2024

    Ga. Man Behind $49M Ponzi Scheme Gets Nearly 8 Years

    An Atlanta-area investment adviser who pled guilty to using his companies as vehicles for a $49 million Ponzi scheme has been sentenced to just short of eight years in prison by a Georgia federal judge, the Department of Justice announced Thursday.

  • February 08, 2024

    SEC Challenger References Son Of Sam In 'Gag Rule' Row

    Counsel for a financial radio show host referenced Son of Sam as she challenged a so-called gag rule issued by the U.S. Securities and Exchange Commission before the Fifth Circuit on Thursday, telling the panel that even serial killers are afforded First Amendment rights when faced with allegations by the government.

  • February 08, 2024

    Crypto Co. Hut 8 Merged With Failing Operation, Suit Says

    Crypto mining company Hut 8 was hit with a proposed class action from an investor alleging the company's stock price fell following the publication of a short-seller's report that said it paid $745 million for another company with severe financial and operational issues.

  • February 08, 2024

    Transport Co. Agrees To Settle Workers' Retirement Plan Suit

    Former transportation company employees told an Ohio federal court Thursday they reached a deal with the company to end a class of workers' lawsuit alleging the company followed the poor advice of its investment consultant in replacing most of its retirement plan options with subpar funds.

  • February 08, 2024

    Tech Co.'s 401(k) Committee Dodges Workers' Fee Suit

    A Georgia federal judge tossed out a proposed class action brought by two former technology company workers who claimed the company's 401(k) committee allowed the plan to be saddled with unlawfully hefty fees, saying they failed to show they went through the proper internal channels before filing suit.

  • February 08, 2024

    Investor Denies Making Yacht Buy To Hide Truth Social Gains

    A Florida venture capitalist on Thursday denied laundering insider-trading proceeds via the purchase of a $14.7 million yacht, after prosecutors alleged in Manhattan federal court that he illegally profited from a secret plan to take Donald Trump's Truth Social company public.

  • February 08, 2024

    Fund Sells $3B In Oil Biz Shares Over Slow Climate Action

    One of the Netherlands' largest pension funds has sold all its shares in companies including BP, Shell and TotalEnergies for a total of roughly €2.8 billion ($3 billion), saying Thursday that the oil and gas giants have failed to move away from fossil fuels quickly enough.

  • February 08, 2024

    NFL Benefits Plan Says Ex-Player's Claim Came Too Late

    The retirement plan for the National Football League asked a Texas federal judge on Wednesday to toss a retired player's second run at league retirement benefits, telling the court that the player fumbled the administrative process and that his claims don't merit a jury trial.

  • February 08, 2024

    Deals Rumor Mill: Club Med, Galderma, Sierra Space

    China’s Fosun is exploring a Club Med minority-stake sale, Galderma's IPO could yield a $20 billion value, and Sierra Space Corp. is making its own IPO plans. Here, Law360 breaks down the notable deal rumors from the past week.

  • February 08, 2024

    Frost Brown Adds Estate Tax Pro In Cincinnati

    Frost Brown Todd LLP just added a new partner with more than three decades of estate planning experience to its tax, benefits and estates practice group in its Cincinnati office as part of its ongoing investment in its Midwestern presence, the firm has announced.

  • February 08, 2024

    Fund Formation Group Of The Year: Kirkland & Ellis

    Kirkland & Ellis LLP has lent its expertise to clients on the formation of some of the largest and most complex capital funds ever, earning the firm recognition as one of Law360's 2023 Fund Formation Groups of the Year.

  • February 08, 2024

    Paul Hastings, Covington Guide Kyverna's Upsized $319M IPO

    Cell therapy firm Kyverna Therapeutics Inc. soared 36% in debut trading Thursday after completing an upsized $319 million initial public offering above its price range, guided by Paul Hastings LLP and underwriters counsel Covington & Burling LLP, marking the latest life sciences company to go public.

  • February 08, 2024

    MoFo Brings Bankruptcy Vet From DLA Piper To NY Office

    Morrison Foerster LLP announced the latest addition to its business restructuring and insolvency group on Wednesday, welcoming a former DLA Piper partner to its New York office.

  • February 08, 2024

    NY Judge Scolds Trump Attys For Response To Perjury Query

    The New York state judge overseeing Donald Trump's civil fraud trial on Thursday chastised defense attorneys for their "misleading" response to his demands for information about reports of possible perjury by defendant and key trial witness Allen Weisselberg.

  • February 08, 2024

    High Court Sides With Whistleblower Against UBS

    The U.S. Supreme Court on Thursday found that whistleblowers don't need to show retaliatory intent on the part of their employers in order to be protected under federal law, in a unanimous ruling in favor of a former UBS employee and whistleblower who fought to restore a $900,000 jury verdict he secured in 2017.

Expert Analysis

  • 4 Key Ways CFIUS Affected Private Equity In 2023

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    Sponsors and investment professionals should note how escalated enforcement by the Committee on Foreign Investment in the United States in 2023 affected private equity deal making and evaluate their CFIUS-related procedures in preparation for the regulator's reach to expand further next year, say attorneys at Kirkland.

  • DOJ Officials' Remarks Signal New Trends In FARA Activity

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    Three U.S. Justice Department officials' remarks at a recent forum reinforce the department's renewed focus on aggressively enforcing the Foreign Agents Registration Act, which has been transformed into a significant national security and criminal enforcement tool, and its efforts to tightly regulate the activities of foreign agents in the U.S., say attorneys at Covington.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • 8 Ways To Negotiate Improved Disgorgement Outcomes

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    The U.S. Securities and Exchange Commission's nearly $3.4 billion collected in disgorgements in 2023 shows that substantial disgorgement claims from regulators and law enforcement are the new norm, but corporations may be able to dramatically reduce what they owe by using eight strategies to argue for reduced net profit calculations, say experts at AlixPartners.

  • How The NY AG Leads Investigations In Civil Securities Fraud

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    Although investigating white collar fraud can put significant strain on state and local resources, the New York Attorney General's Office has continued to use its expansive statutory authority to take a leading role in bringing civil enforcement actions in highly complex financial matters, say Carrie Cohen and Nathan Reilly at MoFo.

  • Series

    ESG Around The World: Singapore

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    Singapore is keen to establish itself as a leading international financial center and a key player in the sustainable finance ecosystem, and key initiatives led by its government and other regulatory bodies have helped the Asian nation progress from its initially guarded attitude toward ESG investment and reporting, say attorneys at Morgan Lewis.

  • What 3rd Circ. Gets Wrong About Arbitration Enforcement

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    The Third Circuit and other courts should correct their current law, exemplified by the Third Circuit's recent decision in Henry v. Wilmington Trust, requiring a motion to dismiss based on an arbitration clause because it conflicts with the Federal Arbitration Act, the Federal Rules of Civil Procedure, and — with regard to the improper-venue approach — U.S. Supreme Court precedent, says David Cinotti at Pashman Stein.

  • Series

    The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • What Banks Should Know About FDIC Assessment Rule

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    Max Bonici at Venable answers questions banking organizations may have about the Federal Deposit Insurance Corp.'s recent approval of a rule implementing a special assessment on banks to recoup costs associated with protecting uninsured depositors after the bank failures earlier this year, and highlights other considerations for uninsured deposits.

  • Series

    Performing Music Makes Me A Better Lawyer

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    The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.

  • How 'As Such' Changes LPs' Self-Employment Tax Exposure

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    In light of the U.S. Tax Court’s recent Soroban Capital Partners decision hinging on "as such" to define the statutory limited partners exemption, state law limited partnerships should consider partners' roles and responsibilities before determining whether they are obligated to pay self-employment income tax, say attorneys at Morgan Lewis.

  • The SEC's Cooled Down But Still Spicy Private Fund Rules

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    Timothy Spangler and Lindsay Trapp at Dechert consider recently finalized U.S. Securities and Exchange Commission rules, which significantly alter the scope of obligations private fund advisers must meet under the Investment Advisers Act, noting the absence of several contentious proposals and litigation that could result in implementation delays.

  • Breaking Down High Court's New Code Of Conduct

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    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • Opinion

    Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • 'Paper Tiger' Finds Its Fangs: Repeat Offenders And The CFPB

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    Following the Consumer Financial Protection Bureau’s recent imposition of structural remedies on Enova for repeat offenses, financial institutions, especially those that have previously been subject to consent orders, need to carefully consider their options when facing future enforcement proceedings with the CFPB, says Caitlin Mandel at Winston & Strawn.

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