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Asset Management
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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.
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July 10, 2025
FCC Says Yes To T-Mobile's $5B Metronet Buy After Nixing DEI
T-Mobile has received the Federal Communications Commission's blessing to go ahead with its $4.9 billion joint venture to acquire fiber company Metronet, one day after telling the agency it would end its diversity, equity and inclusion programs in furtherance of the FCC chair's goals.
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July 10, 2025
DOL Urges 9th Circ. To OK Toss Of HP 401(k) Forfeiture Suit
The U.S. Department of Labor urged the Ninth Circuit to reject HP Inc. workers' bid to revive a proposed class action alleging forfeited employee 401(k) plan contributions were mismanaged, arguing a lower court properly tossed the case for failure to state a claim for violating federal benefits law.
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July 10, 2025
Senate Confirms Gould As OCC Head
The U.S. Senate on Thursday confirmed Jones Day partner Jonathan Gould as Comptroller of the Currency in a 50-45 vote along party lines, marking his return to the agency where he spent more than two years as chief counsel.
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July 10, 2025
Texas Judge Partially Voids DOL's ERISA Rollover Rule
A Texas federal judge partially invalidated an investment advice regulation from President Donald Trump's first administration involving employee retirement savings and rollover transactions, ruling the U.S. Department of Labor exceeded its authority when it handed down a new interpretation of federal benefits law.
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July 10, 2025
Ropes-Led ICapital Valued At $7.5B After $820M Fundraise
Ropes & Gray LLP-advised fintech company iCapital on Thursday revealed that it raised more than $820 million in its latest financing round, bringing the New York-based company's valuation to over $7.5 billion.
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July 10, 2025
5 Employee Benefits Takeaways On The GOP Tax Bill
Congressional Republicans' sweeping tax and policy bill, which President Donald Trump sought and then signed, contains multiple provisions that caught the attention of employee benefits and executive compensation attorneys, including new changes to high-deductible health plans and an employer-side deduction limit affecting highly compensated employees. Here are five takeaways from employee benefits and executive compensation attorneys on what's in — and out of — the GOP megabill.
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July 10, 2025
SpaceX Seeks Record $400B Valuation, Plus More Rumors
Elon Musk's satellite and rocket maker SpaceX is planning to raise money in a private round that would value the company at a record $400 billion, Starbucks China is seeking bids for a stake sale that could value the chain at $10 billion, plus online fashion giant Shein hopes to salvage its long-awaited IPO by listing in Hong Kong.
Expert Analysis
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Law Firm Executive Orders Create A Legal Ethics Minefield
Recent executive orders targeting BigLaw firms create ethical dilemmas — and raise the specter of civil or criminal liability — for the government attorneys tasked with implementing them and for the law firms that choose to make agreements with the administration, say attorneys at Buchalter.
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Firms Must Embrace Alternative Billing Models Or Fall Behind
As artificial intelligence tools eliminate inefficiencies and the Big Four accounting firms enter the legal market, law firms that pivot from the entrenched billable hour model to outcomes-based pricing will see a distinct competitive advantage, says attorney William Brewer.
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Opinion
7 Ways CFTC Should Nix Unnecessary Regulatory Burdens
Several U.S. Commodity Futures Trading Commission regulations do not work efficiently in practice, all of which can be abolished or improved in order to comply with a recent executive order requiring the elimination of 10 regulations for every new one implemented, say attorneys at K&L Gates.
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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.