• September 18, 2023 | Corporate Counsel

    SEC Slaps Lyft With $10M Fine for Undisclosed Stock Deal Just Before IPO

    According to news reports, the seller of the $424 million in shares was Carl Icahn, and the buyer was George Soros.

    3 minute read

  • NexPoint Diversified Real Estate Trust v. Acis Capital Mgmt. LP

    Publication Date: 2023-09-13
    Practice Area: Contractual Disputes
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Second Circuit
    Judge: Circuit Judge Sarah A. L. Merriam
    Attorneys: For plaintiff: For Plaintiff-Appellant NexPoint Diversified Real Estate Trust: Griffin S. Rubin, on the brief, Mazin A. Sbaiti, Sbaiti & Company PLLC, Dallas, TX.
    for defendant: For Defendants-Appellees Acis Capital Management, L.P. and Joshua N. Terry: Jonathan E. Pickhardt, William B. Adams, on the brief, Blair A. Adams, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY. For Defendant-Appellee Brigade Capital Management, LP.: Jason C. Hegt, Alexis K. Godfrey, on the brief, Samir Deger-Sen, Latham & Watkins LLP, New York, NY. For Intervenor-Defendant-Appellee Highland CLO Funding, Ltd.: Jennifer E. Poon, on the brief, Uri A. Itkin, Akin Gump Strauss Hauer & Feld LLP, New York, NY.

    Case Number: 22-1912

    Contract Rescission Action Does Not State Claim; Does Not Violate IAA

  • Jaroslawicz v. M&T Bank Corp.

    Publication Date: 2023-09-11
    Practice Area: Securities Litigation
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Wallach
    Attorneys: For plaintiff: Francis J. Murphy, Jr., Jonathan L. Parshall, Murphy, Spadaro & Landon, Wilmington, DE; Steven M. Coren, Benjamin M. Mather, Matthew R. Williams, Kauffman, Coren & Ress, P.C, Philadelphia, PA for plaintiffs.
    for defendant: Brian M. Rostocki, Anne M. Steadman, Justin M. Forcier, Reed Smith LLP, Wilmington, DE; Jonathan K. Youngwood, Janet A. Gochman, Tyler A. Anger, Katherine A. Hardiman, Simpson, Thacher & Bartlett, New York, NY; Kevin R. Shannon, Jonathan A. Choa, Daniel Rusk, Potter Anderson & Corroon LLP, Wilmington, DE; Tracy Richelle High, Scott A. Foltz, Sullivan & Cromwell LLP, New York, NY for defendants.

    Case Number: 15-00897-EJW

    Court declined to exclude expert report in support of class certification where unreliability of trading model was not fatal to the reliability and admissibility of the report's event study, but plaintiffs' theories of damages in their expert report did not encompass some damages experienced by certain sophisticated investors.

  • August 22, 2023 | New York Law Journal

    Baker McKenzie Regulatory Co-Chairs, Seeking Greater 'Support,' Jump to K&L Gates

    Amy Greer and Jennifer Klass were recruited to build the practice from scratch in 2019, but they said they ultimately needed a firm that offered a broader set of skills and expertise to serve their clients.

    4 minute read

  • Atallah v. Malone

    Publication Date: 2023-07-31
    Practice Area: Corporate Governance
    Industry: Investments and Investment Advisory | Technology Media and Telecom
    Court: Court of Chancery
    Judge: Vice Chancellor Glasscock
    Attorneys: For plaintiff: F. Troupe Mickler IV, Stephen E. Jenkins, Ashby & Geddes, P.A., Wilmington, DE; William J. Fields, Christopher J. Kupka, Samir Shukurov, Fields Kupka & Shukurov LLP, New York, NY; Gustavo F. Bruckner, Samuel J. Adams, Daryoush Behbood, Pomerantz LLP, New York, NY; Brian Schall, The Schall Law Firm, Los Angeles, CA for plaintiffs.
    for defendant: Kevin R. Shannon, Tyler J. Leavengood, Jaclyn C. Levy, Michael C. Gorski, Jr., Lucille E. Wiesner, Potter Anderson & Corroon LLP, Wilmington, DE; Richard B. Harper, Vern Cassin, Thomas E. O’Brien, Alyssa M. Pronley, Kristina Wenner, Baker Botts LLP, New York, NY; Bradley R. Aronstam, S. Reiko Rogozen, Roger S. Stronach, Ross Aronstam & Moritz LLP, Wilmington, DE; Joseph O. Larkin, Matthew P. Majarian, Rupal K. Joshi, Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, DE; James R. Carroll, Skadden, Arps, Meagher & Flom LLP, Boston, MA for defendants.

    Case Number: 2021-1116-SG

    The court denied defendants' motion to dismiss plaintiffs' derivative complaint which alleged that one defendant had made a sham offer to purchase another defendant's high vote stock to trigger a call right, which in turn resulted in significant monetary benefits to both defendants and harm to nominal defendant.

  • July 24, 2023 | The Legal Intelligencer

    Eckert Seamans Poised to Pay $45M Settlement Tied to Sprawling Fraud at Phila. Cash Advance Co.

    The multiple civil and criminal cases involving the founders of Par Funding have drawn in a number of Philadelphia's top law firms and litigators.

    9 minute read

  • Henry v. Wilmington Trust NA

    Publication Date: 2023-07-24
    Practice Area: Labor Law
    Industry: Investments and Investment Advisory | Manufacturing
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Chagares
    Attorneys: For plaintiff: Sarah M. Adams, Michael J. Prame, Groom Law Group Chartered, Washington, DC; Mark A. Nebrig, Moore & Van Allen, Charlotte, NC; Kevin J. Connors, Marshall Dennehey Warner Coleman & Goggin, P.C., Wilmington, DE for appellants.
    for defendant: Daniel Feinberg, Feinberg Jackson Worthman & Wasow, Berkeley, CA; David A. Felice, Bailey & Glasser LLP, Wilmington, DE. Ryan T. Jenny, Gregory Y. Porter, Bailey & Glasser LLP, Washington, D.C.; Peter K. Stris, Rachana A. Pathak, John R. Stokes, Stris & Maher LLP, Los Angeles, CA; Tillman J. Breckenridge, Stris & Maher LLP, Washington, DC for appellee.

    Case Number: 21-2801

    Nonseverable class action waiver in ESOP plan's arbitration provision rendered provision unenforceable where waiver barred plan participants from pursuing remedies authorized by ERISA.

  • June 28, 2023 | Legaltech News

    AI Startup DraftWise Raises $5M, With Help From Orrick Herrington & Sutcliffe

    DraftWise is the third legal tech startup that leverages generative AI to secure investment just over the past four weeks.

    2 minute read

  • June 15, 2023 | Corporate Counsel

    Former Tanger GC Joins DC Hotel Investor RLJ Lodging Trust

    Chad Perry is the new executive vice president and general counsel at the high-end hotel investment company.

    2 minute read

  • May 17, 2023 | New Jersey Law Journal

    The Overlooked Benefits of a 529 College Savings Plan

    Many individuals remain wary of 529 accounts because the use of these funds is limited to educational purposes. However, hidden incentives and benefits may make these accounts worth another look in your client's estate plan.

    7 minute read