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Asset Management
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July 01, 2025
Deutsche Faces Investor Bid To Renew UK Bond-Rigging Case
An Oklahoma pension fund moved Monday to revive its New York federal court case over alleged price-fixing of U.K. government bonds, citing newly obtained chat transcripts and other material that it says bolster its claims against Deutsche Bank.
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July 01, 2025
Fenwick, Latham Lead Web-Design Giant Figma's IPO Filing
Web-design software maker Figma Inc. on Tuesday filed for an initial public offering, joining a growing pipeline of IPO candidates as summer heats up, represented by Fenwick & West LLP and underwriters counsel Latham & Watkins LLP.
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July 01, 2025
Banking Veteran's Latest SPAC Leads 3 IPOs Raising $420M
Banking executive Betsy Cohen's latest special purpose acquisition company began trading Tuesday after raising $220 million, in the largest of three initial public offerings totaling $420 million to join a resurgent SPAC market.
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July 01, 2025
Justices Face Busy Summer After Nixing Universal Injunctions
The U.S. Supreme Court's decision to limit nationwide injunctions was one of its biggest rulings of the term — a finding the court is likely going to be dealing with all summer. Here, Law360 takes a look at the decision, how it and other cases on the emergency docket overshadowed much of the court's other work, and what it all means for the months to come.
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July 01, 2025
Virtu, SEC Move To Settle Information Security Suit
The U.S. Securities and Exchange Commission and Virtu Financial Inc. told a New York federal judge on Tuesday that they have struck a tentative deal to end a lawsuit accusing the broker-dealer of failing to adequately protect customer data.
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July 01, 2025
FTX Bahamas, Celsius Settle Clawback Claims
Crypto exchange FTX's Bahamas unit and crypto lender Celsius Network have reached a deal to end Celsius' attempt to claw back $516.6 million transferred out of Celsius accounts just prior to its Chapter 11 filing.
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July 01, 2025
Oppenheimer Drops Suit Over Ex-Adviser's Ponzi Scheme
Oppenheimer & Co. Inc. has dropped its suit against three North Carolina residents challenging whether they are entitled to arbitrate their case against the financial services giant over a Ponzi scheme orchestrated by a former employee, court records show.
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July 01, 2025
Proxy Firms Don't 'Solicit' Investor Votes, DC Circ. Rules
A D.C. Circuit panel Tuesday ruled that proxy advisory firms do not "solicit" proxy votes, thus denying a manufacturing industry group's attempt to revive a U.S. Securities and Exchange Commission rule regulating those firms.
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June 30, 2025
Argentina Must Turn Over YPF Stake, NY Judge Says
Argentina must give up its 51% equity stake in the nationalized oil company YPF SA to partially pay off a $16.1 billion judgment in a pair of investor lawsuits, a New York federal judge ruled Monday, rejecting the country's argument that sovereign immunity shields the shares from turnover.
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June 30, 2025
9th Circ. Nixes Suit Against Allianz Over $6B Fraud Sentence
A man can't bring securities fraud claims against Allianz SE after one of the German financial services giant's former businesses pled guilty to investment fund fraud and was ordered to pay roughly $6 billion, the Ninth Circuit ruled, finding he failed to sufficiently allege Allianz SE itself acted fraudulently.
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June 30, 2025
Chipmaker Wolfspeed Hits Ch. 11 With Plan To Ax $4.6B Debt
Semiconductor maker Wolfspeed Inc. filed for Chapter 11 protection in Texas bankruptcy court Monday with a plan supported by its senior lenders to slash about $4.6 billion of debt and emerge from the insolvency proceeding later this year.
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June 30, 2025
Justices Won't Disturb 10th Circ. Oklahoma PBM Law Ruling
The U.S. Supreme Court on Monday declined to hear the state of Oklahoma's challenge to a Tenth Circuit decision that found parts of a recently enacted law regulating pharmacy benefit managers were preempted by federal benefits laws and Medicare Part D, cementing an industry group's win in the case.
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June 30, 2025
Blackstone-Backed Cirsa Prices IPO For $2.9B Market Cap
Private equity-backed Spanish casino operator Cirsa Enterprises S.A.U. on Monday launched plans for an initial public offering that would give the company a €2.5 billion ($2.9 billion) market capitalization.
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June 30, 2025
4 Mass. Rulings You May Have Missed In June
A now-shuttered Boston firm scored a win in a legal malpractice lawsuit by a youth soccer program, while a securities brokerage found that the old adage "if at first you don't succeed, try, try again" doesn't apply to litigation, among other recent noteworthy decisions in Massachusetts state court.
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June 30, 2025
Hong Kong's IPO Surge Creates More Competition For US
Hong Kong led global exchanges on new listings for operating companies in the first half of 2025, partly benefiting from a U.S.-China rift that is prompting more mainland China companies to seek secondary listings in Hong Kong, according to new data released on Monday.
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June 30, 2025
Consulting Firm Says Ex-Exec's Wage Suit Is In Wrong Venue
Consulting firm Profit Drivers LLC, its sole member and its chief executive officer have asked a Connecticut federal judge to dismiss a suit brought by their onetime vice president and chief financial officer claiming he was never paid for his work, arguing they have no ties to the Constitution State.
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June 30, 2025
4 Firms Build $112.7M Take-Private Of Big 5 Sporting Goods
Big 5 Sporting Goods Corp. on Monday announced plans to go private after being bought by a partnership that includes Worldwide Golf and Capitol Hill Group in an all-cash deal that was built by four law firms and is valued at roughly $112.7 million.
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June 30, 2025
Justices Undo Patients' Win In Gender-Affirming Care Fight
The U.S. Supreme Court on Monday struck down a Fourth Circuit decision that preserved access to gender-affirming care under two state-run health plans, telling the lower court to consider a recent decision by the justices that upheld a Tennessee law limiting treatments for young transgender people.
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June 30, 2025
High Court Wants Feds' Input On Parker-Hannifin 401(k) Suit
The U.S. Supreme Court asked for the U.S. solicitor general's take Monday on the Sixth Circuit's decision to revive a proposed class action alleging Parker-Hannifin Corp. mismanaged a 401(k) plan, seeking the government's view on the pleading standard for a claim that investment choices breached fiduciary duties.
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June 30, 2025
High Court To Hear Fight Over Investment Fund Suits
The U.S. Supreme Court on Monday agreed to hear a case that could limit the ability of private parties to assert contract violations against investment funds, with one activist investor accusing several closed-end funds of shutting it out of its voting rights.
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June 27, 2025
Crytpo Co. Boss Gets 8 Years For $40M Ponzi Schemes
A Brooklyn federal judge on Friday sentenced the head of multiple cryptocurrency companies to nearly eight years in prison for his role atop interrelated Ponzi schemes that raised over $40 million from investors based on false promises of guaranteed returns.
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June 27, 2025
Banks Get Clean Bill Of Health As Stress Test Changes Loom
The Federal Reserve said Friday that the nation's big banks are stocked with enough capital to weather a severe recession, giving them passing marks on what are poised to be the last round of stress tests before regulators begin overhauling the testing process.
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June 27, 2025
PE-Backed McGraw Hill, Consumer Researcher NIQ File IPOs
Educational publisher McGraw Hill Inc. and consumer research provider NIQ Global Intelligence PLC filed plans for initial public offerings Friday, marking a pair of large private-equity-backed companies set to join a recovering IPO market.
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June 27, 2025
Injunction OK'd In Ex-FTX Exec Ch. 11 Clawback Case
A Delaware bankruptcy judge approved a preliminary injunction Friday against former FTX executive Ryan Salame to prevent him from dissipating as much as $6 million in assets he is accused of taking from the cryptocurrency exchange prior to its 2022 collapse.
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June 27, 2025
Wells Fargo Beats Some Claims In Cash Sweep Litigation
A federal judge on Friday nixed some claims in a proposed class action accusing Wells Fargo of harming customers through its cash sweep deposit program by giving them only minimal interest on their holdings, including a claim that the bank breached its fiduciary duties to its indirect clients.
Expert Analysis
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How Attorneys Can Master The Art Of On-Camera Presence
As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.
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Series
Baseball Fantasy Camp Makes Me A Better Lawyer
With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.
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Paul Atkins' Past Speeches Offer A Glimpse Into SEC's Future
Following Paul Atkins' Thursday Senate confirmation hearing, a look at his public remarks while serving as a commissioner at the U.S. Securities and Exchange Commission between 2002 and 2008 reveals eight possible structural and procedural changes the SEC may see once he likely takes over as chair, say attorneys at Covington.
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Series
Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.
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The Fund Finance Market Is In Its Transformative Era
The fund finance market is experiencing explosive growth as it develops into a mature and sophisticated industry, with several recent developments – such as an increase in net asset value lending and a shift toward borrower-friendly terms – reshaping the landscape of this rapidly evolving sector, say attorneys at Fried Frank.
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Opinion
SEC Shouldn't Complicate Broker-Dealers' AML Compliance
Recent U.S. Securities and Exchange Commission anti-money laundering enforcement actions show that regulators should not second-guess broker-dealers' reasonable judgment, or stretch the law or their jurisdiction to regulate through enforcement, lest they expect broker-dealers to vigorously defend their AML programs, say attorneys at WilmerHale.
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State Securities Enforcers May Fill A Federal Enforcement Gap
The U.S. Securities and Exchange Commission appears poised to take a lighter touch under the new administration, but state enforcement efforts are likely to continue unabated, and potentially even increase, particularly with regard to digital assets and ESG disclosures, say attorneys at Ropes & Gray.
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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What Rodney Hood's OCC Stint Could Mean For Banking
Acting Comptroller of the Currency Rodney Hood's time at the helm of the OCC, while temporary, is likely to feature clarity for financial institutions navigating regulations, the development of fintech innovation, and clearer expectations for counsel advising on related matters, say attorneys at Vedder Price.
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Opinion
We Must Allow Judges To Use Their Independent Judgment
As two recent cases show, the ability of judges to access their independent judgment crucially enables courts to exercise the discretion needed to reach the right outcome based on the unique facts within the law, says John Siffert at Lankler Siffert & Wohl.
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4 Actions For Cos. As SEC Rebrands Cyber Enforcement Units
As the U.S. Securities and Exchange Commission signals its changing enforcement priorities by retooling a Biden-era crypto-asset and cybersecurity enforcement unit into a task force against artificial-intelligence-powered hacks and online investing fraud, financial institutions and technology companies should adapt by considering four key points, say attorneys at Troutman.
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New SEC Guidance May Change How Investors, Cos. Talk
The U.S. Securities and Exchange Commission's recent updates to the Schedules 13D and G compliance and disclosure interpretations may mean large institutional investors substantially curtail the feedback they provide companies about their voting intentions in connection with shareholder meetings, which could result in negative voting outcomes for companies, say attorneys at Cleary.
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Series
Performing Stand-Up Comedy Makes Me A Better Lawyer
Whether I’m delivering a punchline on stage or a closing argument in court, balancing stand-up comedy performances and my legal career has demonstrated that the keys to success in both endeavors include reading the room, landing the right timing and making an impact, says attorney Rebecca Palmer.
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How 2025 Is Shaping The Future Of Bank Mergers So Far
Whether the long-anticipated great wave of consolidation in the U.S. banking industry will finally arrive in 2025 remains to be seen, but the conditions for bank mergers are more favorable now than they have been in years, say attorneys at Skadden.
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Series
Adapting To Private Practice: From SEC To BigLaw
As I adjusted to the multifaceted workflow of a BigLaw firm after leaving the U.S. Securities and Exchange Commission, working side by side with new colleagues on complex matters proved the fastest way to build a deep rapport and demonstrate my value, says Jennifer Lee at Jenner & Block.