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Texas Lawyer

Global Energy Trader Sues Ex-President for Alleged Kickbacks and Fraud

"Clark—who was in a supervisory position as PSE's Head of Northeast Trading and later as PSE's President—steered natural gas block trading business to (the third party) and others," the complaint alleges.
4 minute read

Law.com

Massachusetts' Novel 'Fiduciary Duty Rule' for Broker-Dealers Could Lead to 'Patchwork of Regulation' in Other States

"With respect to the industry as a whole, if we end up with a patchwork of state regulation around broker-dealer standards of care, it's going to be very difficult for the broker-dealer community, particularly those that operate on a national level to understand what the requirements are where they operate," said K&L Gates partner Rich Kerr of the recent decision dismissing Robinhood Financial's challenge to Massachusetts' "fiduciary duty rule."
4 minute read

Litigation Daily

Litigators of the Week: In Antitrust Case Against Big Banks, Quinn and Cohen Milstein Land a $499M Settlement and Market Changes

The settlement announced this week with multiple banks over claims they colluded to prop up fees in the stock lending market comes after an earlier $81 million deal with Credit Suisse affiliates.
8 minute read

Daily Business Review

Hyper-Reality Revisited: A Tour of Waldorf Astoria Hotel & Residences Miami

"It's pivotal to portray not just the physical spaces to the minimum detail but also the lifestyle and aspirational aspects of the new development," said Alvaro Alesso, co-founder and COO at YUPIX.
5 minute read

National Law Journal

SEC Increases Scrutiny of Fund Administrators, Financial Attorneys Say Amid Settlements

"The SEC is just making it very clear to the industry that we're expecting these private fund administrators to protect the fund and its investors," attorney Will Atherton said.
4 minute read

National Law Journal

SEC Tells Broker-Dealers to Tighten Their Anti-Money Laundering Programs

Agency issues risk alert that investment firms are not meeting their compliance obligations.
4 minute read

Law.com

In Robinhood Case, Mass. High Court Mulls Whether State Secretary Can Enforce Novel Fiduciary Duty on Broker-Dealers

"We think this rule falls far outside what is a reasonable rule of unethical because one, it conflicts with the SEC's rule; two, it conflicts with the common law; and three, the secretary has pointed to no authority outside the state that has adopted a similar rule," Amy M. Saharia, a partner at Williams & Connolly, argued on behalf of Robinhood, noting that Section 415 of the act in question makes clear to "make the law of Massachusetts uniform with its sister jurisdictions and the federal government."
5 minute read

Connecticut Law Tribune

10 Years Later, This High Court Fight Over Real Estate Commissions Is Far From Over

Daniel E. Casagrande, counsel for the plaintiffs and partner at Cramer & Anderson, said it has been a long road.
4 minute read

Daily Business Review

Broward Judge Awards $9.9M in Attorney Fees and Costs After $33M Salmon Settlement

"If I go to the grocery store, and I'm buying salmon, my assumption is that the prices that I'm paying are the result of a competitive marketplace," said Roger Mandel, a shareholder at Jeeves Mandel Law Group, who is not involved in the litigation.
4 minute read

New York Law Journal

Schwab Gasparini Partner Wins Series of Accidental Retirement Disability Cases in Albany Appeals Court

The three cases are within the same timeframe as a recent New York Court of Appeals case that was in some ways similar, but resulted in a win for the state of New York.
6 minute read

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