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Asset Management
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July 16, 2025
Ropes & Gray-Led Neuberger Berman Wraps 5th Fund At $2.8B
Ropes & Gray LLP-advised investment manager Neuberger Berman on Wednesday revealed that it closed its fifth co-investment fund above target after securing $2.8 billion in capital commitments.
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July 15, 2025
GTCR Seeks Rival's Sales Data To Counter FTC Challenge
The private equity firm looking to buy medical device coating company Surmodics is seeking Salesforce data from another competitor in the space, saying the information is crucial to showing that the industry will still be competitive if its acquisition is cleared.
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July 15, 2025
Interactive Brokers To Pay OFAC $11.8M For Sanctions Lapses
Interactive Brokers LLC has agreed to pay more than $11.8 million to settle allegations from the U.S. Department of the Treasury's trade sanctions enforcement arm that the electronic broker-dealer violated various sanctions programs over a period of more than seven years.
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July 15, 2025
PCAOB Chief Erica Williams Has Resigned, SEC Chair Says
Erica Y. Williams has resigned as chair and a board member of the Public Company Accounting Oversight Board after more than three years in the position, according to a statement issued Tuesday by U.S. Securities and Exchange Commission Chairman Paul S. Atkins.
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July 15, 2025
Gould Sworn In As Comptroller Of Currency
Former Jones Day partner Jonathan Gould on Tuesday was sworn in as the next leader of the Office of the Comptroller of the Currency, marking his return to the agency where he spent more than two years as chief counsel.
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July 15, 2025
La Caisse Plugs $200M Into PE-Backed Renewa
Infrastructure investor QIC Infrastructure on Tuesday announced that its portfolio company Renewa received a $200 million primary equity commitment from investment group La Caisse.
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July 15, 2025
Saudi Arabian Healthcare Co. Snags $124M In VC Funding
Saudi Arabian long-term care, rehabilitation and home healthcare services provider Baraya Extended Care on Tuesday announced that it secured $124 million in Series B funding led by healthcare investor TVM Capital Healthcare.
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July 14, 2025
Casino Entrepreneur Fights Laos' Award Appeal At 9th Circ.
An entrepreneur who was not party to an arbitration is fighting to toss Laos' bid before the Ninth Circuit to overturn an order refusing to enforce about $5 million in arbitral awards stemming from an ill-fated casino venture, saying the appealed ruling isn't a final decision.
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July 14, 2025
9th Circ. Partially Revives Doc's COVID-19 Insurance Fight
The Ninth Circuit on Monday revived a lawsuit from an immunocompromised oral surgeon claiming Paul Revere Life Insurance Co. wrongly denied him disability benefits when he stopped working during the COVID-19 pandemic, saying a reasonable jury could find that he was unable to do his work.
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July 14, 2025
ÃÛÌÒÊÓÆµ Deal To Put Medical Debt Back On Reports OK'd
A Texas federal court has reversed a Biden-era rule that kept an estimated $49 billion in medical debt from credit reports after the Consumer Financial Protection Bureau and lender trade groups struck a deal to axe the rule.
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July 14, 2025
Willkie-Led McGraw Hill Launches $500M IPO
Education publisher giant McGraw Hill Inc. on Friday launched its initial public offering with plans to raise $500 million, with Willkie Farr & Gallagher LLP advising the company and Cahill Gordon & Reindel LLP steering the underwriters.
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July 14, 2025
Ex-Tech Worker Says Expenses Suit Shouldn't Be Arbitrated
A customer experience technology company can't force arbitration in a lawsuit alleging remote workers weren't reimbursed for internet service and computers they were mandated to purchase, an ex-employee told a Colorado federal court, arguing the company can't show that she and another worker signed valid arbitration agreements.
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July 14, 2025
2 Ex-Binance Employees Seek To Escape FTX Clawback Suit
Two former Binance employees named as defendants in a $1.76 billion clawback suit brought by FTX in Delaware bankruptcy court have asked to be dismissed from the case, saying the court has no personal jurisdiction over them and that the complaint doesn't allege that they were involved in the transactions at issue.
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July 14, 2025
2nd Circ. Won't Let UBS Arbitrate Fund Mismanagement Suit
The Second Circuit on Monday affirmed a New York federal judge's decision rejecting UBS' bid to send a charitable trust's mismanaged funds suit to arbitration, finding that the bank knowingly relinquished the right to arbitrate "by acting inconsistently with that right."
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July 14, 2025
Debevoise-Led Stone Point Secures $11.5B For 10th PE Fund
Debevoise & Plimpton LLP-advised private equity shop Stone Point Capital LLC on Monday revealed that it wrapped its latest fund with $11.5 billion in tow, marking the largest fundraise in the firm's history.
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July 11, 2025
SEC Fines Adviser $1.75M For Hiding Conflicts Of Interest
American Portfolios Advisors Inc. on Friday agreed to pay a $1.75 million fine to end allegations from the U.S. Securities and Exchange Commission that the investment adviser failed to properly disclose conflicts of interest with an affiliated broker-dealer.
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July 11, 2025
Hospitals Used Retirement Forfeitures For Self-Gain, Suit Says
A North Carolina hospital system cost workers millions in savings by using forfeited matched funds in its retirement plan to cover its own contribution obligations instead of reducing plan expenses paid by employees, according to a new proposed class action filed in federal court.
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July 11, 2025
FTX Trust Says Blockchain Co. Hasn't Delivered $1.3M Coins
A recovery trust for the bankrupt cryptocurrency exchange FTX filed a Chapter 11 adversary proceeding in Delaware bankruptcy court seeking turnover of $1.3 million worth of $XION digital tokens that the debtor's subsidiaries purchased prior to the bankruptcy filing.
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July 11, 2025
Cancer-Focused BridgeBio's $949M SPAC Deal Gets SEC Nod
Clinical-stage biopharmaceutical company BridgeBio Oncology Therapeutics, advised by Goodwin Procter LLP, and White & Case LLP-led special purpose acquisition company Helix Acquisition Corp. II on Friday revealed that their $949 million merger had been cleared by U.S. regulators.
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July 11, 2025
SEC Quietly Drops First-Ever Liquidity Rule Suit
The U.S. Securities and Exchange Commission on Friday agreed to dismiss its first-ever case accusing an investment adviser of violating a rule that limits the amount of illiquid investments a mutual fund can hold.
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July 11, 2025
Taxation With Representation: Davis Polk, Kirkland, Cassels
In this week's Taxation With Representation, Merck buys U.K. drugmaker Verona Pharma, CoreWeave acquires fellow data center company Core Scientific, Royal Gold acquires Sandstorm Gold and Horizon Copper, and Italian food company Ferrero buys WK Kellogg.
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July 10, 2025
Russian Banker Inks Sanctions DPA After FBI Botches Warrant
The founder of Bank Otkritie on Thursday secured a deferred prosecution agreement with Manhattan federal prosecutors to resolve allegations of assisting the head of Russian state-backed lender VTB Bank in evading U.S. sanctions, just a month after a swath of email evidence was thrown out over a botched FBI search warrant.
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July 10, 2025
Univ. of Rochester Sued For 'Excessive' Retirement Plan Fees
The University of Rochester was hit with a proposed class action Wednesday in New York federal court over allegations it caused its $7.2 billion employee retirement program to pay millions in excessive administrative fees.
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July 10, 2025
Brookfield Accuses Lima Of Smear Tactics In Contract Feud
An ugly, yearslong fight over $200 million in arbitral awards relating to a Peruvian toll road project turned darker this week after asset manager Brookfield argued that Lima was trying to "smear" its reputation in connection with the gruesome death of a key witness in a related bribery trial.
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July 10, 2025
SEC's Peirce Says Tokenized Security Issuers Must Heed Law
The U.S. Securities and Exchange Commission's Hester Peirce is cautioning market participants that issuers of digital versions of securities, often described as tokenized securities, must comply with federal laws even as they pursue innovation.
Expert Analysis
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Takeaways From CFTC's Private Fund Rule Amendments
The U.S. Commodity Futures Trading Commission's recently adopted amendments to Rule 4.7 of the Commodity Exchange Act ensure that investors in the complex derivatives markets receive relevant and comprehensive information, and further align suitability criteria for investors in private funds, says Rita Molesworth at Willkie.
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Series
Collecting Rare Books Makes Me A Better Lawyer
My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.
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Opinion
Judge Should Not Have Been Reprimanded For Alito Essay
Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
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A Look At Collateralized Loan Obligations Post-Reform
The Financial Stability Board's recent report on global securitization reforms, analyzing resilience trends in the collateralized loan obligation market post-2008, suggests that, while risk retention rules have a limited impact on observable characteristics, other structural features play a significant role in ensuring risk alignment, says Kos Vavelidis at DLA Piper.
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Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example
Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
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3 Ways Trump Can Nix SEC's Climate Disclosure Rules
Given President Donald Trump's campaign statements and agency appointments, it's likely that his administration will try to annul the U.S. Securities and Exchange Commission's climate disclosure rules, but his options for doing so present unique opportunities and challenges, with varying levels of permanence and impact, say attorneys at DLA Piper.
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Perspectives
Accountant-Owned Law Firms Could Blur Ethical Lines
KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.
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AI Will Soon Transform The E-Discovery Industrial Complex
Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.
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When Innovation Overwhelms The Rule Of Law
In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.
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What Compensation Committees Must Keep In Mind In 2025
New disclosure obligations, an evolving discussion on the analysis of executive perks and updated proxy adviser policies — on top of a new presidential administration — are all important things compensation committees must pay close attention to in 2025, say attorneys at Simpson Thacher.
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Losing A Motion To Dismiss Ruling Isn't Necessarily The End
A recent Delaware Court of Chancery ruling, that the Manti Group had not demonstrated any conflicts of interest favoring private equity fund operator The Carlyle Group, serves as an important reminder that a decision on a pleading motion is not the end of the story, say attorneys at Sidley.
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How Cos. Can Prepare Now For SEC E-Filing System Changes
The U.S. Securities and Exchange Commission's amendments to the Electronic Data Gathering, Analysis and Retrieval system are designed to improve access to and management of EDGAR accounts, and with the March 24 effective date fast approaching, and the transition requiring significant coordination, companies should begin planning now, say attorneys at Debevoise.
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Imagine The Possibilities Of Openly Autistic Lawyering
Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.
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Series
Documentary Filmmaking Makes Me A Better Lawyer
Becoming a documentary filmmaker has allowed me to merge my legal expertise with my passion for storytelling, and has helped me to hone negotiation, critical thinking and problem-solving skills that are important to both endeavors, says Robert Darwell at Sheppard Mullin.
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Litigation Funding Disclosure Debate: Strategy Considerations
In the ongoing debate over whether courts should require disclosure of litigation funding, funders and plaintiffs tend to argue against such mandates, but voluntarily disclosing limited details about a funding arrangement can actually confer certain benefits to plaintiffs in some scenarios, say Andrew Stulce and Marc Cavan at Longford Capital.