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Asset Management
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August 07, 2025
Trump Taps Economic Adviser Miran For Fed Board Vacancy
President Donald Trump said Thursday that he has chosen Stephen Miran, the chairman of his Council of Economic Advisers, to fill a vacancy on the Federal Reserve's Board of Governors until early 2026 while continuing to search for a permanent replacement.
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August 07, 2025
Novartis Faces $291M Trade Secrets Suit From Hedge Fund
A hedge fund on Thursday accused Novartis, a former investment executive and the executive's longtime friend and business partner of scheming to steal its "innovative hedge fund strategy" after an investment deal between the biotech giant and the hedge fund went south.Â
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August 07, 2025
Fugitive Trader's Wife Can't Pause Liquidation In $67M Fraud
The wife of a fugitive Oak Management Corp. trader cannot temporarily block a receiver's plan to liquidate frozen assets and reimburse victims who lost $67 million to her husband's fraud scheme, a Connecticut federal judge has ruled.
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August 07, 2025
Rising Star: Ropes & Gray's Rachel O'Brien
Rachel O'Brien of Ropes & Gray LLP advised Hamilton Lane on its largest fundraise ever, closing with $5.6 billion in tow, and helped The Vistria Group LP clinch $3 billion in investor commitments for its largest-ever private equity fund — earning O'Brien a spot among the fund formation lawyers under age 40 honored by Law360 as Rising Stars.
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August 07, 2025
Trump Greenlights Private Equity, Crypto 401(k) Investing
President Donald Trump signed an executive order Thursday that aims to make it easier for retirement plans to invest in a wider range of assets, including cryptocurrency, private equity and real estate.
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August 07, 2025
Investors Back Cancer Ultrasound Tech Firm At $2.25B Value
HistoSonics Inc. said Thursday it has secured a majority stake acquisition led by its management team and backed by a syndicate of investors including K5 Global, Bezos Expeditions and Wellington Management, valuing the maker of the Edison Histotripsy System at about $2.25 billion.
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August 07, 2025
Space Tech-Focused Firefly's Upsized $868M IPO Takes Off
Shares of private equity-backed space and defense technology company Firefly Aerospace began trading publicly Thursday after the company priced an upsized $868 million initial public offering, raising upwards of its already once-revised price range.
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August 07, 2025
OpenAI Climbs To $300B Valuation, Plus More Rumors
Tech deals appear to be booming as OpenAI's valuation explodes to $300 billion following an $8.3 billion funding round, Nvidia and CapitalG are rumored to invest in Vast Data in a funding round that could value the artificial intelligence infrastructure provider at up to $30 billion, and AI company Cerebras eyes a $1 billion private capital fundraise.
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August 07, 2025
Haynes Boone Grows NY Office With Ex-Winston Strawn Atty
Haynes Boone has added a litigator previously with Winston & Strawn LLP who once headed the Internal Revenue Service's Criminal Investigation division as chair of its financial services investigations and enforcement practice in New York, the firm has announced.
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August 07, 2025
NC Biz Court Bulletin: Divorce Dust-Ups And Judicial Rebukes
Litigation in the North Carolina Business Court is heating up this summer with new complaints centered on fears a former state politician's divorce proceedings will impede his companies' operations and accusations that a climate technology company has failed to pay out a former engineer's ownership interest.
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August 07, 2025
UnitedHealth Selling Home Health Branches In DOJ Deal
The U.S. Department of Justice announced a settlement Thursday resolving its Maryland federal court challenge to UnitedHealth's $3.3 billion acquisition of home health and hospice company Amedisys, with the deal requiring the companies to sell at least 164 locations across 19 states.
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August 06, 2025
Compelling ERISA Arbitration No Sure Thing, 9th Circ. Shows
The Ninth Circuit aligned with several other federal appeals courts when it recently struck down a clause in a food service company's employee health plan that barred class or representative actions, marking the latest in a series of setbacks for employers looking to push federal benefits suits into solo arbitration.
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August 06, 2025
Masimo Drops Founder Joe Kiani From 'Empty Voting' Suit
Masimo Corp. has agreed to free its founder, Joe Kiani, from the medical technology company's suit alleging he manipulated a shareholder vote through an "empty voting" scheme, pointing to "the interest of judicial efficiency and economy."
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August 06, 2025
Texas Hospital Should Face Retirement Plan Suit, Judge Says
A Houston hospital shouldn't dodge a proposed class action claiming it failed to remove a J.P. Morgan fund from its $2.8 billion employee retirement plan despite the investment option's consistent underperformance, a Texas federal magistrate judge recommended Wednesday, saying the allegations are solid enough to stay in court.
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August 06, 2025
Ex-Homeowners Seek OK On Tax Foreclosure Suit Deal
A proposed class of former property owners asked a Michigan federal judge Tuesday to give initial support to a settlement with several counties that would allow the ex-homeowners to receive the surplus profits they allege the county treasurers made selling their tax-delinquent properties.
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August 06, 2025
Wells Fargo Worker To Pay $3M To Settle ESOP Class Claims
A Wells Fargo employee will pay $3 million to resolve claims against her in a class action alleging owners of an electrical component company and managers of its employee stock ownership plan undervalued the plan's shares when the program shut down, according to a filing in Massachusetts federal court.
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August 06, 2025
9th Circ. Backs SEC's No-Denials Settlements Rule
The Ninth Circuit on Wednesday rejected a First Amendment challenge to a decades-old U.S. Securities and Exchange Commission rule that restricts defendants who settle securities law charges from denying the claims against them, saying the law has "long regarded the voluntary relinquishment of constitutional rights as permissible" with safeguards.
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August 06, 2025
Rising Star: Kirkland's Suzannah Hacking
Suzannah Hacking led the Kirkland & Ellis LLP team that advised private equity shop Berkshire Partners as it secured its largest fund ever, with $7.8 billion in investor commitments, earning her a spot among the fund formation attorneys under age 40 honored by Law360 as Rising Stars.
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August 06, 2025
Blackstone Inks $6B Enverus Deal, Beating Out NYSE Parent
Blackstone said Wednesday it has agreed to acquire Enverus from private equity firms Hellman & Friedman and Genstar Capital, in a deal that values the energy analytics and data firm at more than $6 billion.
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August 06, 2025
Akin, Latham Advise Apollo's Data Center Builder Stake
Apollo Global Management on Wednesday announced it will acquire a majority stake in Dallas-based builder Stream Data Centers in a deal advised by Akin Gump Strauss Hauer & Feld LLP and Latham & Watkins LLP that the asset manager said would enable possibly billions in digital infrastructure spending.
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August 06, 2025
Thompson Hine Adds Trio In Key Markets In 3 States
The former branch chief of a U.S. Securities and Exchange Commission office in D.C. dedicated in part to reviewing mutual fund filings, a former Latham & Watkins LLP associate based in Chicago, and a securities lawyer from an Orange County boutique all have joined Thompson Hine LLP.
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August 05, 2025
SVB Directed To Object To Ch. 11 Claims In Standing Fight
The former parent company of Silicon Valley Bank and liquidators tasked with winding up its Cayman Islands branch locked horns on Tuesday over standing in a $294 million lawsuit, prompting a New York bankruptcy judge to request that SVB Financial object to claims as having been filed too late.
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August 05, 2025
2nd Circ. Nixes Madoff Feeder Fund Clawback Suits
About 300 clawback lawsuits filed by the liquidators of British Virgin Islands-based funds that invested in Bernard L. Madoff Investment Securities should be dismissed, a Second Circuit panel said on Tuesday, finding the deals were protected by the U.S. Bankruptcy Code's safe harbor for securities transactions.
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August 05, 2025
Ex-Wells Fargo Adviser Fights $400K Award In 1-Day Arbitration
A former Wells Fargo financial adviser asked a North Carolina federal court Monday to vacate a nearly $400,000 arbitration award entered against him, alleging the one-day merits hearing was rushed and ignored key evidence.
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August 05, 2025
Simpson Thacher Adds Tax, Funds Pro From Dechert
Simpson Thacher & Bartlett LLP announced Monday that it has continued its growth in the tax and registered funds spaces, welcoming a partner from Dechert LLP to its New York office.
Expert Analysis
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.
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Series
Improv Makes Me A Better Lawyer
Improv keeps me grounded and connected to what matters most, including in my legal career where it has helped me to maintain a balance between being analytical, precise and professional, and creative, authentic and open-minded, says Justine Gottshall at InfoLawGroup.
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How BigLaw Executive Orders May Affect Smaller Firms
Because of the types of cases they take on, solo practitioners, small law firms and public interest attorneys may find themselves more dramatically affected by the collective impact of recent government action involving the legal industry than even the BigLaw firms named in the executive orders, says Reuben Guttman at Guttman Buschner.
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Opinion
Lawsuits Shouldn't Be Shadow Assets For Foreign Capital
Third-party litigation financing amplifies inefficiencies from litigation and facilitates national exposure to foreign influence in the U.S. justice system, so full disclosure of financing arrangements should be required as a matter of institutional integrity, says Roland Eisenhuth at the American Property Casualty Insurance Association.
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How To Accelerate Your Post-Attorney Career Transition
Professionals seeking to transition to nonattorney careers may encounter skepticism as nontraditional candidates, but there are opportunities for thought leadership and to leverage speaking and writing to accelerate a post-attorney career transition, say Janet Falk at Falk Communications and Evgeny Efremkin at Toronto Metropolitan University.
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How Tariffs May Affect Proxy Contests This Season
While global tariffs imposed by the Trump administration will certainly chill at least some activity this proxy season, and make defending contests significantly easier, there will likely be many new activist investments once there is more economic certainty, meaning more proxy fights this fall, say attorneys at Sidley.
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A Closer Look At New NYSE, Nasdaq Listing Rule Changes
The U.S. Securities and Exchange Commission has recently approved changes to the New York Stock Exchange's and the Nasdaq's listing rules on reverse stock splits, minimum share price requirements and required liquidity for initial listings, meaning listed companies facing delisting will have fewer means to regain compliance, say attorneys at Cahill Gordon.
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Opinion
GENIUS Act Can Bring Harmony To Crypto-Banking Discord
​​​​​​​By embracing crypto innovation while establishing appropriate guardrails, the so-called GENIUS Act charts a path forward that promotes financial inclusion and technological advancement without compromising stability or constitutional rights, says J.W. Verret at George Mason University's Antonin Scalia Law School.
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Series
Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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SEC Confidential Review Process Provides Issuers Flexibility
The U.S. Securities and Exchange Commission's recently announced enhancements to the process for confidentially submitting draft registration statements will be immediately impactful for issuers seeking to access the public capital markets, and should provide more grounds to explore and plan public offerings, say attorneys at Lowenstein Sandler.
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Series
Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q1
Among the most notable developments in California banking in the first quarter of the year, regulators and legislators issued regulations interpreting debt collection laws, stepped up enforcement actions, and expanded consumer protections for those affected by wildfires, says Stephen Britt at Severson & Werson.
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How The ESG Investing Rule Survived Loper Bright, For Now
A Texas federal court's recent decision in Utah v. Micone upholding the U.S. Department of Labor's 2022 ESG investing rule highlights how regulations can withstand the post-Loper Bright landscape when an agency's interpretation of its statutorily determined boundaries is not granted deference, say attorneys at Miller & Chevalier.
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Series
Adapting To Private Practice: From DOJ Leadership To BigLaw
The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.
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How The CRE Industry Is Adapting To Tariff Uncertainty
Amid uncertainty about pending tariffs and their potential ripple effects, including higher material costs, supply chain delays and tighter margins, commercial real estate industry players are focusing on strategic planning and risk mitigation, says Daniel Diaz Leyva at Day Pitney.