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Editor's Picks

Dealmakers of the Year: Stephen Rooney, Mayer Brown

By Julie Triedman |

When insurers shunned New York City's transit authority after Hurricane Sandy, Rooney turned to the bond markets for a solution.

New UK Tax Rules for LLPs Hit Nonequity Partners

By Chris Johnson |

To skirt the new regulations, law firms are asking salaried partners for capital contributions.

Akin, Shearman Help Broker Algerian Telecom Peace

By Brian Baxter |

Russian oligarch-backed VimpelCom is selling a 51 percent stake in Algeria's largest telecom operator.

The Churn

The Churn: Patton Boggs Trio Find New Homes, Plus More Lateral Moves

By Brian Baxter |

Three more partners have left struggling Patton Boggs for new endeavors.

One Reason the Legal Industry's Crisis Persists

By Steven J. Harper |

When debating the future of the legal profession, facts matter. At least, they should matter.

Foley, Quarles Help Keep Bucks in Wisconsin

By Brian Baxter |

The Milwaukee-based Am Law 200 firms and Paul Weiss advise on the record-setting sale of the NBA’s Milwaukee Bucks.

The Careerist: 5 Rules When You're Divorcing a Big Law Partner

By Vivia Chen |

Lessons learned from the nasty divorce of a Cadwalader partner.

SpringOwl Rolls Dice on Bwin Proxy Fight

By Hilary Johnson |

In an example of cross-border shareholder activism, a New York-based investor has announced plans to launch a proxy battle with a U.K. company.

FINRA Set to Increase Scrutiny of Stockbroker Records

By Isobel Markham |

The Financial Industry Regulatory Authority is about to unveil new plans to ramp up oversight of stockbrokers’ records following an investigation by the Wall Street Journal that revealed failings with the information available to investors.

Judge Denies Class Status to Genworth Investors

By Isobel Markham |

A New York federal judge has denied class certification to more than 2,000 investors who allege that Genworth Financial Wealth Management Inc. committed securities fraud and breached its fiduciary duty by falsely claiming that the host of radio show "Moneytalk" would oversee their portfolios, Reuters reports.

Life Partners Sues Charles Schwab Subsidiary

By Isobel Markham |

Financial services firm Life Partners Holdings Inc announced Tuesday that it has filed a lawsuit in Illinois against Charles Schwab subsidiary optionsXpress Inc, its chief financial officer and one of the company’s largest customers for allegedly issuing and selling fraudulent shares of Life Partners Holdings stock, Business Wire reports.

Lawyers Whip Up Big Breakfast Deal

By Tom Huddleston Jr. |

Fried Frank is representing Michael Foods on its sale to cereal-maker Post Holdings.

Dealmakers of the Year: Gary Lee, Morrison & Foerster

By Julie Triedman |

To get bankrupt mortgage servicer Residential Capital back on its feet, Lee looked beyond the Second Circuit for a precedent.

SEC Accuses Investment Advisory Firm of Kickback Scheme

By Hilary Johnson |

The U.S. Securities and Exchange Commission’s Enforcement Division has charged a San Diego-based investment advisory firm, the firm's chief executive officer, and other firm employees with breaching their fiduciary duties and misleading investors.

Woman face with botox injectionin forehead area

The Careerist: All You Need Is Botox

By Vivia Chen |

Time for another round of quirky, strange news.

Asking Tough Questions About the Corporate Monitor Boom

By Hilary Johnson |

Are corporate monitors engaged in a boondoggle business? One analyst suggests that they are.

Ex-Madoff Staffers Convicted of Aiding Scam Bid for New Trial

By Hilary Johnson |

Complaining that they are victims of a "miscarriage of justice," five former Bernard Madoff employees convicted of helping their boss execute his massive fraud have asked a federal judge to throw out their convictions or grant them a new trial.

German Deal Activity Yields Roles for Large Firms

By Brian Baxter |

After a big first quarter for U.S. M&A, increased transactional work out of Europe could be a boon for some top firms on the continent.

Cleary, Shearman on $1.6 Billion Ventilation Deal

By Tom Huddleston Jr. |

The Am Law 100 firms are advising on CPPIB's sale of an air distribution company to Johnson Controls.

Exclusive: Ex-SEC Lawyer Speaks Out on Agency Failings

By Susan Beck |

Senior writer Susan Beck interviews James Kidney about what he sees as the SEC’s misplaced priorities.

FINRA Sends Expungement Rule to SEC

By Isobel Markham |

The Financial Industry Regulatory Authority's proposed rule to prohibit brokers from requiring that their records be cleared of wrongdoing as a condition of investor-complaint settlements has been sent to the Securities and Exchange Commission, Investment News reports.

SEC Appoints Deputy Chief Litigation Counsel

By Isobel Markham |

The Securities and Exchange Commission has appointed David Gottesman as deputy chief litigation counsel in its Division of Enforcement.

SEC Files More Charges in Venezuelan Bank Kickback Scheme

By Isobel Markham |

The Securities and Exchange Commission has announced additional charges in its ongoing case concerning a massive kickback scheme to secure the bond trading business of a state-owned Venezuelan bank.

Dealmakers of the Year: Marc Weingarten and David Rosewater, Schulte Roth

By Chris Johnson |

As activist investors have grown into a force to be reckoned with, this pair has cornered a big share of their legal work.

BlackRock's Fink Plans to Keep Speaking Out on Governance

By Hilary Johnson |

BlackRock CEO Laurence Fink wrote in an annual letter to shareholders that he plans to continue to be a voice in discussions and debates about corporate governance issues.

A Sotheby's art auction in Milan, Italy.

Loeb Fires Back Sotheby's Board in Auction House Row

By Hilary Johnson |

Hedge fund activist Daniel Loeb has told the board of directors of Sotheby's that contrary to their views, he is exactly the man to advise them on how to run the venerable auction house.

Profit Pressure Prompting Firm Leaders to Swing Ax

By Julie Triedman |

Six Am Law 200 firms have now confirmed layoffs of staffers this year.

EU Set to Vote on High-Frequency Trading Restrictions

By Isobel Markham |

European Union lawmakers are set to approve some of the toughest restrictions on high-frequency trading, the Telegraph reports. These restrictions are part of a larger package of EU market reforms that will address commodity derivatives speculation and investor protection, among other issues.

FINRA Recruits Enough Arbitrators to Open Puerto Rico Bond Cases

By Isobel Markham |

The Financial Industry Regulatory Authority announced on its website Monday that it will lift the hold it had put on some cases related to collapses in Puerto Rico bond funds, Reuters reports.

The Churn

The Churn: Bingham Hedge Fund Duo Defects, Plus More Lateral Moves

By Brian Baxter |

Two prominent hedge fund partners and a privacy practice cochair have left Bingham McCutchen.