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Asset Management
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April 29, 2025
Union Pension Fund Wins $132M Bailout Suit At 2nd Circ.
A union pension fund won its multimillion-dollar dispute with the Pension Benefit Guaranty Corp. on appeal Tuesday, with the Second Circuit reversing a New York federal judge's 2023 decision that the PBGC was within its rights to reject the fund's 2022 application for $132 million in financial assistance.
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April 29, 2025
2 Insurance Firms Join Frozen IPO Pipeline Seeking $440M
Two insurance companies joined the roster of candidates for initial public offerings on Tuesday by launching plans to raise about $440 million combined under guidance from six law firms, potentially unlocking a stalled pipeline.
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April 29, 2025
Kirkland Guides Allied Industrial On $300M Fund Close
Houston-based Allied Industrial Partners has closed its inaugural fund at its $300 million hard cap, achieving the objective under the legal guidance of Kirkland & Ellis LLP.
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April 29, 2025
Retirees Fight Lockheed's Quick Appeal Push In Annuity Suit
Lockheed Martin retirees urged a Maryland federal judge not to allow the company to immediately challenge a ruling that kept alive their suit claiming Lockheed illegally pushed workers' pensions into risky annuities, arguing an appeal would be premature even though a similar case was recently tossed out.
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April 28, 2025
3rd Circ. Won't Rethink Teamsters Fund's Win In $39M Row
The Third Circuit won't give a group of dairy businesses a second chance to prevent a Teamsters union pension fund from suing them and their affiliates to enforce a $39 million settlement, the court announced Monday.
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April 28, 2025
SEC Defends Witholding Info On Text Message Sweeps
The U.S. Securities and Exchange Commission pushed back Monday against the American Securities Association's bid for spreadsheets related to the regulator's enforcement sweep of so-called off-channel communications, telling a Florida federal judge that its spreadsheet withholdings under the Freedom of Information Act are fully legal.
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April 28, 2025
Avis Hit With Investor Suit Over $2.3B Fleet Impairment
Car rental company Avis Budget Group has been hit with a proposed shareholder class action alleging it harmed investors when it concealed a strategy shift late last year that accelerated fleet rotation and led to a $2.3 billion impairment charge.
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April 28, 2025
Wells Fargo Investors Win Class Cert. In 'Sham' Hiring Case
A California federal judge has certified a class of thousands of Wells Fargo & Co. investors in litigation over the bank's alleged practice of conducting "sham" job interviews to meet diversity targets, a strategy investors say led to stock prices dropping when the truth came to light, according to an order issued Friday.
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April 28, 2025
Boeing Rips Investors' Class Cert. Bid In 737 Max Fraud Suit
Boeing has told an Illinois federal judge that pension funds and private investors cannot certify a sweeping class action seeking a "jaw-dropping" $15 billion in damages by alleging Boeing repeatedly misrepresented the overall safety and certification process for the 737 Max 8 jets after two deadly crashes in 2018 and 2019.
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April 28, 2025
Wells Fargo Tells Judge Cash Sweep 'Conflict' Was Disclosed
Wells Fargo said it should be allowed to escape customers' proposed class action alleging the bank's cash sweep investment program disproportionately benefits the bank, arguing it disclosed in its signed agreements with customers the bank's intentions to secure financial gains for itself through the program.
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April 28, 2025
Tax Services Provider Andersen Files Confidential IPO Plans
Tax and legal services provider Andersen Group Inc. said Monday it confidentially filed for an initial public offering, marking a first step toward going public amid market volatility that has largely frozen IPOs in recent weeks.
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April 28, 2025
5th Circ. Grants DOL 30-Day Stay In States' ESG Rule Appeal
The Fifth Circuit on Monday granted the U.S. Department of Labor's request to stay an appeal from Republican-led states in a suit challenging the agency's rule that allows retirement fiduciaries to consider issues like climate change and social justice when choosing investments, but limited the pause to 30 days.
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April 28, 2025
Nasdaq Presses SEC To Enact Clearer Digital Asset Rules
Nasdaq is urging the U.S. Securities and Exchange Commission and its sister agency that regulates derivatives to adopt clearer rules governing digital assets, calling for a system that classifies such products into four categories.
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April 28, 2025
Defense-Focused SPAC Kochav Files $220M IPO
Defense- and aerospace-focused special purpose acquisition company Kochav Defense Acquisition has revealed plans to raise up to $220 million in an initial public offering, looking to list on the Nasdaq under the ticker symbol KCHVU.
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April 28, 2025
Class Attys Seek $6.5M Cut In $29.5M Plantronics Settlement
Lead counsel for Plantronics investors who secured a $29.5 million deal resolving claims the company used "channel stuffing" tactics to bolster revenue are seeking $6.5 million in fees, telling a California federal judge Friday the request is reasonable, given the strong recovery and their track record successfully prosecuting similar securities cases.
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April 28, 2025
Commanders Agree To NFL Stadium Deal, Return To DC
The Washington Commanders will move from their current home in Maryland to a $3 billion stadium at the site of their previous stadium in D.C., team and city officials announced Monday, less than two years after the Commanders were bought by new ownership and less than four months after the federal government transferred control of the site to the city.
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April 28, 2025
Latham-Led StepStone Real Estate Clinches $3.77B 5th Fund
Latham & Watkins LLP-advised StepStone Real Estate on Monday revealed that it clinched its fifth flagship fund with $3.77 billion in tow.
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April 28, 2025
Justices Won't Disturb 9th Circ.'s AT&T 401(k) Suit Revival
The U.S. Supreme Court declined on Monday to hear AT&T's bid for review of a Ninth Circuit panel decision reviving a class action against the telecom giant alleging mismanagement of an employee 401(k) plan, rejecting employers' request for more clarity from the court on the pleading standard for federal benefits lawsuits alleging excessive fees.
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April 25, 2025
FINRA Urges Justices To Reject Constitutional Challenge
The Financial Industry Regulatory Authority on Friday called on the U.S. Supreme Court to turn away a case claiming that the regulator's in-house disciplinary process is unconstitutional, saying that there is no circuit split at issue and that the petition is "plagued with vehicle problems."
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April 25, 2025
Texas High Court Keeps Alive REIT's 'Short And Distort' Suit
The Texas Supreme Court found that a farmland-centered real estate investment trust's suit against a Dallas-based hedge fund could continue, but in a Friday opinion it also said a bid to dismiss the suit under the state's anti-SLAPP law could proceed on the merits.
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April 25, 2025
Judge Keeps Boeing Fraud Case In Chicago
An Illinois federal judge said Friday that equity funds accusing Boeing of defrauding investors by downplaying the 737 Max jets' safety flaws after a pair of deadly crashes in 2018 and 2019 must continue to litigate their claims in Chicago instead of having them heard in Virginia.
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April 25, 2025
Live Nation Investors Get 1st OK For $20M Eras Tour-Tied Deal
Event ticketing giant Live Nation and its shareholders on Friday secured a California federal judge's initial green light for their proposed $20 million deal to end proposed class action claims alleging the company misled shareholders in the face of anticompetitive allegations involving its Ticketmaster subsidiary following its missteps selling tickets for pop star Taylor Swift's Eras Tour.
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April 25, 2025
SPAC Deals Are Buzzing Again Despite Tariff Turmoil
Amid heavy volatility that has largely frozen traditional initial public offerings, deal teams are launching more special purpose acquisition companies, an alternative market to typical IPOs that so far has shown few ill effects from tariff-related uncertainty.
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April 25, 2025
SPAC Raises $220M As It Eyes Partners In 'Disruptive' Sectors
Inflection Point Acquisition Corp. III began trading on the Nasdaq on Friday as it pursues a merger with a company operating in "disruptive growth industries" in North America or Europe, which it said could include "innovative, technology-enabled" businesses.
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April 25, 2025
10th Circ. Backs Spirit Aero's $31M Clawback From Ex-CEO
The Tenth Circuit on Friday backed Spirit AeroSystems Inc.'s decision to claw back $31 million worth of stock awards because a former CEO violated his noncompete agreement with the aircraft structure manufacturer, holding a lower court properly ruled the employment pact was enforceable under Kansas law.
Expert Analysis
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2024 Was A Banner Year For Shareholder Activism
Shareholder activism campaigns in 2024 continued at an elevated pace globally, with activist investors exploiting valuation gaps and pushing aggressively for corporate governance reforms, including the ouster of many companies' chief executives, a trend that could continue once President-elect Donald Trump takes office, say attorneys at Sidley.
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7 Ways 2nd Trump Administration May Affect Partner Hiring
President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.
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E-Discovery Quarterly: Rulings On Custodian Selection
Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.
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Impact Of Successful Challenges To SEC's Rulemaking Ability
In 2024, the U.S. Securities and Exchange Commission faced significant legal challenges to its aggressive rulemaking agenda as several of its rules were vacated by the Fifth Circuit, which could hinder the SEC's ability to enact rules extending beyond express statutory authority in the future, say attorneys at Debevoise.
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A Look At PCAOB's Record-Breaking Enforcement In 2024
The Public Company Accounting Oversight Board in 2024 brought more enforcement actions against auditors and imposed increasingly higher monetary penalties, showing that it was not afraid to exercise its power to fine and reprimand firms, a trend that will likely continue in 2025, say attorneys at Briglia Hundley.
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Series
Exercising On My Peloton Bike Makes Me A Better Lawyer
While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.
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Predicting What's Next For SEC By Looking At Past Dissents
While Paul Atkins' nomination to be the next chair of the U.S. Securities and Exchange Commission has taken center stage, an analysis of Republican Commissioners Hester Peirce and Mark Uyeda's past votes and dissents provides a preview of where enforcement may shift in the new administration, say attorneys at Gibson Dunn.
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
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What 2024's Noncompete Turmoil Means For Banks In 2025
A look back at the most significant legal challenges to the enforceability of various restrictive covenants like noncompete and nonsolicitation agreements in 2024 can help financial institutions address the use of these critical tools this year, say attorneys at Maynard Nexsen.
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New Year, New Risks: 8 Top Cyber Issues For Finance In 2025
As financial institutions forge ahead in 2025, they must strike a delicate balance between embracing technological innovation and guarding against its darker threats, which this year could include everything from supply chain vulnerabilities to deepfakes, say attorneys at Baker Donelson.
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8 Trends And Predictions Following PE's Late 2024 Surge
Private equity will remain at the forefront of value creation in 2025, and anticipated market trends include sponsors' desire to return capital to investors and a more business-friendly tack by the Antitrust Division of the U.S. Department of Justice, say attorneys at Weil.
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Series
Playing Esports Makes Me A Better Lawyer
Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.
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An Associate's Guide To Career Development In 2025
As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.
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The Securities Litigation Trends That Will Matter Most In 2025
2025 is shaping up to be a significant year for securities litigation, as plaintiffs and defendants alike navigate shifting standards for omission theories of liability, class certification, risk disclosure claims and more, say attorneys at Willkie.
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What To Watch For In The 2025 Benefits Landscape
While planning for 2025, retirement plan sponsors and service providers should set their focus on phased implementation deadlines under both Secure 1.0 and 2.0, an upcoming U.S. Supreme Court ruling, and the fate of several U.S. Department of Labor regulations, says Allie Itami at Lathrop GPM.