Asset Management

  • July 12, 2024

    Law360 Names 2024's Top Attorneys Under 40

    Law360 is pleased to announce the Rising Stars of 2024, our list of 158 attorneys under 40 whose legal accomplishments belie their age.

  • July 12, 2024

    5 Firms Steer Chinese EV Co.'s $1B SPAC Merger

    Chinese electric vehicle maker Huture Ltd. plans to go public at an estimated $1 billion value through a merger with special purpose acquisition company Aquaron Acquisition Corp., both parties announced Friday, in a deal steered by five law firms.

  • July 12, 2024

    Apollo Seeks Chancery Toss Of Stockholder Pact Challenge

    Pointing in part to a pending Delaware law that would allow corporate directors to cede some board powers to big stockholders, Apollo Global Management Inc. has asked a Delaware vice chancellor to dismiss a suit challenging its own stockholder pact.

  • July 12, 2024

    Va. Tax Head Upholds Denial Of Resident's Subtraction

    Virginia residents were properly denied an income tax subtraction that they claimed because of recaptured depreciation that came from the sale of a rental property, the state tax commissioner ruled.

  • July 12, 2024

    American Airlines Pilot Pushes For $16M Win After ERISA Trial

    An American Airlines pilot urged a Texas federal court to make the airline cough up nearly $16 million following a June bench trial in a retirement savings class action, arguing the company breached its fiduciary duties to its retirement plan by focusing too heavily on environmental and social factors in investments.

  • July 12, 2024

    7 Gender-Affirming Care Cases To Watch In 2024's 2nd Half

    The U.S. Supreme Court has agreed to review a constitutional challenge by the federal government to Tennessee's ban on gender-affirming care for minors, while other appeals courts are weighing the constitutionality of states' and employers' restrictions on gender dysphoria treatment. Here are seven cases involving gender-affirming care access that attorneys will be tracking in the second half of the year.

  • July 12, 2024

    Litigation Funding 'Abuses' Targeted By Federal Lawmakers

    Federal lawmakers are seeking to put the reins on third-party investors bankrolling litigation, with Rep. Darrell Issa, R-Calif., introducing legislation that would require disclosure of third-party financing deals in civil lawsuits, and Rep. James Comer, R-Ky., asking Chief Justice John Roberts on Friday to have the Judicial Conference review the practice.

  • July 12, 2024

    FINRA's Remote Inspection Pilot Met With Praise, Caution

    The Financial Industry Regulatory Authority's new pilot program for remote inspections of broker-dealers has earned praise from attorneys, who say the measures accommodate the reality of remote work routines, but they're waiting to see how the chips fall on questions including the adequacy of the regulator's data security measures.

  • July 12, 2024

    Healthcare SPAC Launches $200M IPO To Pursue Acquisition

    Launch One Acquisition Corp. began trading Friday after raising a $200 million initial public offering, represented by Ellenoff Grossman & Schole LLP and underwriters counsel King & Spalding LLP, joining an uptick in special-purpose acquisition companies targeting the healthcare sector.

  • July 12, 2024

    Taxation With Representation: Ropes & Gray, Cravath, Latham

    In this Week's Taxation with Representation, Paramount Global merges with Skydance Media, Devon Energy acquires Grayson Mill Energy's Williston Basin oil and gas business, Ryan acquires Altus Group Ltd.'s property tax business, and Bain Capital buys Envestnet Inc.

  • July 12, 2024

    Ex-Greenberg Traurig Atty Joins Holland & Knight As Partner

    A former Greenberg Traurig LLP shareholder recently joined Holland & Knight LLP's private wealth services group as a partner in its Chicago office, where he can use his experience as a certified public accountant to help navigate estate and trust administration matters.

  • July 12, 2024

    CFTC, DOJ Convene 'Pig Butchering' Working Group

    The U.S. Commodity Futures Trading Commission and a U.S. Department of Justice cryptocurrency enforcement team have convened a working group focused on crypto fraud scams known as "pig butchering" schemes, joining forces with officials from more than 15 federal agencies.

  • July 11, 2024

    Biden Taps Warren Protege, Ex-CFPB Atty For CFTC Seat

    President Joe Biden on Thursday nominated a senior Office of Management and Budget official and former Consumer Financial Protection Bureau attorney to the U.S. Commodity Futures Trading Commission to replace one of two current CFTC members who themselves have been nominated for other offices.

  • July 11, 2024

    Tempur Sealy, Mattress Firm Blast FTC's Merger Challenge

    Tempur Sealy and Mattress Firm fired back at the Federal Trade Commission's bid to block a proposed merger between the mattress companies, contending in separate filings that the FTC's ambiguous allegations require tossing the agency's administrative complaint.

  • July 11, 2024

    South Korea Looks To Nix $32M Award To U.S. Hedge Fund

    South Korea said Thursday that it will look to overturn an arbitral award ordering it to pay some $32 million to a U.S. hedge fund following a dispute over a government bribery scandal that allegedly underpinned the $8 billion merger of two Samsung affiliates in 2015.

  • July 11, 2024

    Judge 'Not Moved' By Coinbase's Call For Gensler's Emails

    The New York federal judge overseeing the U.S. Securities and Exchange Commission's lawsuit against Coinbase Inc. cautioned the crypto firm Thursday against pursuing a subpoena targeting the private emails of SEC Chair Gary Gensler, saying she was "surprised, and not in a good way" by the request and warning that it could tarnish defense counsel's credibility. 

  • July 11, 2024

    Expensify Says Suit Over IPO Disclosures, Biden Support Fails

    Expense management software company Expensify has asked a federal judge to toss a federal lawsuit accusing it of concealing the details of a new pricing strategy and the effects of statements its CEO made urging customers to vote for President Joe Biden in the 2020 election in order to prop up shares ahead of its initial public offering.

  • July 11, 2024

    Calif.'s Insulin Cost Suit Belongs In Fed. Court, 9th Circ. Told

    Express Scripts and Caremark PCSHealth urged the Ninth Circuit on Thursday to reverse a lower court's order sending California's antitrust suit over skyrocketing insulin prices back to state court, with both appellants' counsel arguing the state's claims involve disputes over federal contracts and regulations that must be resolved in federal court.

  • July 11, 2024

    Chancery Orders Invictus Fund Sides To Provide Case Update

    Pointing to hints of clarity in a distressed credit and special-situations fund's murky, 9-month-old battle for documents and cash held by its general partner and investment manager, a Delaware vice chancellor on Thursday ordered the two sides to produce a case update by Tuesday.

  • July 11, 2024

    SPAC Plans To Merge With Online Game Maker In $500M Deal

    Special-purpose acquisition company Relativity Acquisition Corp. on Thursday revealed that it is in talks with online casino game maker Mazaii Corp. Ltd. to acquire the company and take it public in a deal that values the casino game maker at an initial enterprise value of $500 million.

  • July 11, 2024

    Biden Taps Cohen Weiss Atty As PBGC Director

    President Joe Biden on Thursday tapped an attorney who most recently served as of counsel at Cohen Weiss & Simon LLP to head the Pension Benefit Guaranty Corp.

  • July 11, 2024

    DOL Wants ERISA Investment Advice Regs Kept Afloat

    The U.S. Department of Labor is urging a Texas federal court to reject a bid from insurance industry groups to block its new regulations that broaden who qualifies as a fiduciary under federal benefits law, saying the groups are "grasping for a reason" to evade the law.

  • July 11, 2024

    Deals Rumor Mill: Saudi Aramco, Paramount Global, Carlyle

    The Carlyle Group is considering acquiring Baxter International's kidney-care spinoff Vantive for about $4 billion, Aramco attracted more than $31 billion in orders for its $6 billion bond sale, and Paramount Global plans to cut more jobs before its merger with Skydance Media closes. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • July 11, 2024

    Earned Wealth Secures $200M, Buys Peer Thomas Doll

    DLA Piper-advised Earned Wealth announced on Thursday that it received a $200 million growth investment from growth equity investors while simultaneously unveiling its acquisition of fellow medical professional-focused financial services firm Thomas Doll.

  • July 11, 2024

    Ropes & Gray, Paul Weiss Steer Bain's $4.5B Envestnet Buy

    Ropes & Gray-led Bain Capital will buy Envestnet Inc., guided by Paul Weiss, in a take-private deal that values the financial technology company at $4.5 billion, Envestnet said in a statement Thursday. 

Expert Analysis

  • Opinion

    Discount Window Reform Needed To Curb Modern Bank Runs

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    We learned during the spring 2023 failures that bank runs can happen extraordinarily fast in light of modern technology, especially when banks have a greater concentration of large deposits, demonstrating that the antiquated but effective discount window needs to be overhauled before the next crisis, says Cris Cicala at Stinson.

  • Series

    After Chevron: Creating New Hurdles For ESG Rulemaking

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    The U.S. Supreme Court's Loper Bright decision, limiting court deference to agencies' statutory interpretations, could have significant impacts on the future of ESG regulation, creating new hurdles for agency rulemaking around these emerging issues, and calling into question current administrative actions, says Leah Malone at Simpson Thacher.

  • A Timeline Of Antisemitism Legislation And What It Means

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    What began as hearings in the House of Representatives Committee on Education and the Workforce has expanded to a House-wide effort to combat antisemitism and related issues, with wide-ranging implications for education, finance and nonprofit entities, say attorneys at Morgan Lewis.

  • Opinion

    States Should Loosen Law Firm Ownership Restrictions

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    Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.

  • 50 Years Later, ERISA Remains A Work In Progress

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    A look at the 50 years since the Employee Retirement Income Security Act’s passage shows that while the law safeguards benefits through vesting rules, fiduciary responsibilities and anti-discrimination provisions, the act falls short in three key areas, says Carol Buckmann at Cohen & Buckmann.

  • Series

    Solving Puzzles Makes Me A Better Lawyer

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    Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.

  • Dapper Settlement Offers Rules Of The Road For NFT Issuers

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    The terms of a $4 million settlement in a class action alleging that Dapper Labs sold its NBA Top Shot Moments as unregistered securities may be a model for third parties that wish to avoid securities liability in connection with offering digital asset non-fungible token collectibles, say attorneys at K&L Gates.

  • Texas Ethics Opinion Flags Hazards Of Unauthorized Practice

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    The Texas Professional Ethics Committee's recently issued proposed opinion finding that in-house counsel providing legal services to the company's clients constitutes the unauthorized practice of law is a valuable clarification given that a UPL violation — a misdemeanor in most states — carries high stakes, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • In Memoriam: The Modern Administrative State

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    On June 28, the modern administrative state, where courts deferred to agency interpretations of ambiguous statutes, died when the U.S. Supreme Court overruled its previous decision in Chevron v. Natural Resources Defense Council — but it is survived by many cases decided under the Chevron framework, say Joseph Schaeffer and Jessica Deyoe at Babst Calland.

  • First-Of-Its-Kind Chancery Ruling Will Aid SPAC Defendants

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    The Delaware Chancery Court's first full dismissal of claims challenging a special purpose acquisition company transaction under the entire fairness doctrine in the recent Hennessy Capital Acquisition Stockholder Litigation establishes useful precedent to abate the flood of SPAC litigation, say Lisa Bugni and Benjamin Lee at King & Spalding.

  • How To Clean Up Your Generative AI-Produced Legal Drafts

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    As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.

  • Series

    After Chevron: Opportunities For Change In FHFA Practices

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    The U.S. Supreme Court's overturning of the Chevron doctrine should lead to better cooperation between the Federal Housing Finance Agency and Congress, and may give the FHFA a chance to embrace transparency and innovation and promote sustainable housing practices, says Mehdi Sinaki at Michelman & Robinson.

  • Supreme Court's ALJ Ruling Carries Implications Beyond SEC

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    In its recent Jarkesy opinion, the U.S. Supreme Court limited the types of cases that can be tried before the U.S. Securities and Exchange Commission's in-house administrative law judges, setting the stage for challenges to the constitutionality of ALJs across other agencies, say Robert Robertson and Kimberley Church at Dechert.

  • 2nd Circ. ERISA Ruling May Help Fight Unfair Arb. Clauses

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    The Second Circuit recently held that a plaintiff seeking planwide relief under the Employee Retirement Income Security Act cannot be compelled to individual arbitration, a decision that opens the door to new applications of the effective vindication doctrine to defeat onerous and one-sided arbitration clauses, say Raphael Janove and Liana Vitale at Janove.

  • Series

    Boxing Makes Me A Better Lawyer

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    Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.

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