Information you need from those in the know

Cadwalader regularly publishes materials, including newsletters and news alerts of interest to our clients. Our communications portfolio also includes articles authored by our attorneys, as well as information about events in which our personnel will participate.

Articles & Books

The Global Subscription Credit Facility and Fund Finance Markets – Key Trends and Forecasts 2018

Apr 16, 2018

The International Comparative Legal Guide to Lending & Secured Finance 2018

The Subscription Credit Facility (each, a “Facility”) and related Fund Finance markets had a fascinating 2017. On the one hand, everything stayed exactly the same. Like virtually every year since the financial crisis, Facility credit performance remained pristine, with no monetary defaults having become public last year. And the out-paced growth rate continued. But, on the other hand, outside of the four corners of the transactions, change seemed to come daily. This chapter summarizes the key trends in the Facility and Fund Finance markets in 2017 and forecasts developments for the coming year.


Related Attorney(s): Michael Mascia, Wesley Misson, Jeremy Cross
Related Practice(s): Fund Finance, Securitization & Asset Based Finance
read more »

Publicity: The US Perspective

Mar 20, 2018

An extract from GIR Practitioner’s Guide to Global Investigations, Edition 2

In this chapter, authors Jodi Avergun and Bret Campbell discuss restrictions in a criminal investigation or trial, the investigatory and pre-trial stage, trial and post-trial stage, discovery of internal corporate communications and much more.


Related Attorney(s): Jodi Avergun
Related Practice(s): White Collar Defense and Investigations
Related Office(s): Washington
read more »

Individual Penalties and Third-Party Rights: The US Perspective

Mar 20, 2018

An extract from GIR Practitioner’s Guide to Global Investigations, Edition 2

In this chapter, authors Joseph Moreno and Anne Tompkins discuss prosecutorial discretion, principles of federal prosecution, DOJ enforcement priorities and policies, individual accountability for wrongdoing and much more.


Related Attorney(s): Anne Tompkins, Joseph Moreno
Related Practice(s): White Collar Defense and Investigations
Related Office(s): Charlotte, Washington
read more »
view all »

Events

Snap Judgment: The Legal and Investment Issues Associated with Non-Voting Stock

Apr 24, 2018

Cadwalader, in partnership with the University of Delaware's John L. Weinberg Center for Corporate Governance, is proud to present, "Snap Judgment: The Legal and Investment Issues Associated with Non-Voting Stock" where partner Richard Brand will speak on a panel.

Related Attorney(s): Richard Brand
Related Practice(s): Corporate Governance
Related Office(s): New York
read more »

Pro Bono Awards Reception

Apr 26, 2018

Cadwalader is proud to present our annual Pro Bono Awards Reception! Please join us from 6:00 pm - 8:00 pm on Thursday, April 26th to honor our attorneys and clients who have exhibited an outstanding commitment to providing pro bono legal services in 2017.

Related Office(s): New York
read more »

2nd Annual WLI Girls in Finance Workshop

May 1, 2018

The 2nd Annual Girls in Finance Workshop, developed and hosted by Cadwalader’s Women’s Leadership Initiative (WLI) aims to educate high school girls on basic finance and investment concepts. The goal of the program is to encourage girls to pursue careers in the finance sector (law or business) by exposing them to successful women in finance. The workshop will be followed by cocktails (pizza for the girls).

 

Related Attorney(s): Ingrid Bagby, Gillian Burns
Related Office(s): New York
read more »
view all »

Clients & Friends Memos

M&A Update: Delaware Chancery Court Finds Elon Musk May Be Controlling Stockholder of Tesla Motors

Apr 16, 2018

On March 28, 2018, in In re Tesla Motors, Inc. Stockholder Litigation, the Delaware Court of Chancery denied a motion to dismiss a lawsuit brought by stockholders of Tesla Motors, Inc. (“Tesla” or the “Company”).  The plaintiffs alleged that Tesla’s Board of Directors, along with its Chairman and CEO, Elon Musk, breached their fiduciary duties by approving the $2.6 billion acquisition of SolarCity, which allegedly benefitted SolarCity stockholders to the detriment of Tesla stockholders.


Related Attorney(s): Joshua Apfelroth, Jason Halper, William Mills, James Fee, Winne Chen
Related Practice(s): Corporate, Global Litigation, Mergers & Acquisitions
read more »

Marketplace Lending Update #2: Another Rocky Mountain Remand

Mar 29, 2018

Last week, Colorado courts issued several new rulings related to marketplace lending.  First, the federal court in Colorado remanded another enforcement action brought by the Administrator of the Colorado Consumer Credit Code against Marlette Funding (“Marlette”), which had been doing business as a marketplace lender in Colorado under the name Best Egg.  Second, the federal court dismissed two parallel actions brought in federal court brought by WebBank and Cross River Bank to halt the state court proceedings.  These recent rulings illustrate the risks that persist in some states for marketplace lenders utilizing the bank origination model. 


Related Attorney(s): James Fee, Jared Stanisci, Jonathan Watkins, Kyle DeYoung, Jason Halper, Chris Gavin, Scott Cammarn
Related Practice(s): Corporate & Financial Services Litigation & Regulation, Financial Regulation, Global Litigation
read more »

English Court of Appeal Decision in Significant Test Case: Property Alliance Group v Royal Bank of Scotland

Mar 28, 2018

On 2 March 2018, the Court of Appeal handed down its highly-anticipated judgment in Property Alliance Group (“PAG”) v Royal Bank of Scotland (“RBS”), dismissing all of PAG’s grounds of appeal and overturning a finding of fraudulent misrepresentation against RBS. The case has been closely watched as it was the first claim for damages arising from LIBOR manipulation to reach trial. Although PAG was unsuccessful on the facts, the Court of Appeal decision carries potentially significant consequences, in particular for LIBOR setting banks.


Related Attorney(s): Steven Baker, Kate Taylor, Janaki Tampi
Related Practice(s): Corporate & Financial Services Litigation & Regulation, Global Litigation
Related Office(s): London
read more »

Blogs & Newsletters


Recent Blog Postings


Health Care Fraud Focus

A Crack in the Armor: Fifth Circuit Court of Appeals Gives Green Light to Enjoining Medicare Recoupments Pending Provider’s Long-Delayed Administrative Appeal

Apr 05, 2018


In an important break with the majority of case precedents, the United States Court of Appeals for the Fifth Circuit, reversing the District Court below, held that a Medicare provider, facing a $7.6 million recoupment for alleged overpayments, can file suit in federal court and seek an injunction against ongoing recoupments, even though the provider... Continue Reading…


Health Care Investors Beware: U.S. Attorney Sues Private Equity Firm For Portfolio Company’s Alleged Billing Fraud

Mar 21, 2018


The U.S. Attorney for the Southern District of Florida recently intervened in a whistleblower lawsuit brought under the federal False Claims Act, alleging fraudulent billing by a pharmacy reimbursed by the federal government. (U.S. ex rel. Medrano v. Diabetic Care Rx, LLC, No. 15-cv-62617, S.D. Fla.) What makes this case significant is that the U.S. Attorney... Continue Reading…


Judge Assigned to Opioid MDL Determined to “Solve” the Opioid Crisis

Jan 16, 2018


Northern District of Ohio Judge Dan Polster, boldly asserting that he would attempt to resolve the opioid crisis because federal, state and local governments had failed to do so — presided over a wide-ranging status conference on January 11 in the opioid MDL assigned to him. In November 2017, a panel of federal judges decided... Continue Reading…



More Health Care Fraud Focus Postings »

Subscribe to this feed »

Antitrust and Financial Services

UK LIBOR Claim for Antitrust Damages – Banks Apply to Strike Out

Apr 05, 2018


In what is understood to be the first LIBOR-related antitrust case in the UK (FDIC v Barclays and others), defendants have applied in the High Court in London to have the claims against them struck out. 


Related Attorney(s): Vincent Brophy, Tom Bainbridge
Related Practice(s): Antitrust
Related Office(s): Brussels, London
read more »

U.S. Antitrust Case Alleges Banks Manipulated Mexican Government Bond Market

Apr 03, 2018


On 30 March 2018, two U.S. pension funds filed the first U.S. class action alleging illegal coordinated conduct by and among authorized dealers of Mexican government bonds (MGBs).


Related Attorney(s): Amy Ray, Brian Wallach
Related Practice(s): Antitrust
Related Office(s): New York, Washington
read more »

U.S. Federal District Court Certifies Class Action Alleging Libor Manipulation

Mar 20, 2018


On 28 February 2018, the district court for the Southern District of New York certified a class of over-the-counter (“OTC”) investors suing Bank of America and JP Morgan. The investors are pursuing federal antitrust claims alleging the banks manipulated the London Interbank Offered Rate (“Libor”).


Related Attorney(s): Amy Ray, Ngoc Hulbig
Related Practice(s): Antitrust
Related Office(s): Charlotte, New York, Washington
read more »

view all »

FCPA Advisor

US and UK Regulators Speak Out on Anti-Corruption Enforcement Trends and Priorities

Dec 06, 2016


A number of key trends and priorities in international anti-corruption enforcement emerged last week at the 33rd ACI International Conference on the Foreign Corrupt Practices Act, held November 29 – December 2 outside of Washington, DC. Leading prosecutors and regulators from the US and UK described skyrocketing international law enforcement coordination, announced both “sticks” and “carrots” to encourage self-disclosure and cooperation, and pledged again to hold individuals accountable for anti-corruption violations. Officials from the Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and the UK Serious Fraud Office (SFO) repeatedly emphasized these points in both their prepared remarks and their responses to questions.


Related Attorney(s): J. Robert Duncan, James Treanor
Related Practice(s): FCPA Enforcement and Compliance, White Collar Defense and Investigations
read more »

Paper Tigers: Recent Settlements Show Companies Operating in China Need to Do More to Enforce FCPA Policies

Mar 02, 2016


Amid a recent flurry of Foreign Corrupt Practices Act (“FCPA”) settlements announced by the U.S. Department of Justice (“DOJ”) and U.S. Securities and Exchange Commission (“SEC”) were two settlements relating to the provision of improper gifts, hospitality and travel to Chinese government officials.


Related Attorney(s): James Treanor
Related Practice(s): FCPA Enforcement and Compliance, White Collar Defense and Investigations
read more »

Eleventh Circuit Defines “Instrumentality” Broadly Under the FCPA

May 19, 2014


On May 16, the Court of Appeals for the Eleventh Circuit became the first federal appellate court to define an important element of the Foreign Corrupt Practices Act (“FCPA”) – what constitutes an “instrumentality” of a foreign government and, thus, who is a foreign official. In United States v. Esquenazi,1 a three-judge panel adopted a broad, fact-based definition of that term. Affirming the criminal convictions of both appellants, the court held that, in order to satisfy the statute, an “instrumentality” had to be an entity that both (1) is controlled by a foreign government and (2) performs a function that the foreign government “treats as its own.” The court provided clear guidance to trial judges and juries by setting out the critical elements to be determined when applying the two-pronged test.


Related Attorney(s): Jodi Avergun
Related Practice(s): FCPA Enforcement and Compliance
Related Office(s): New York
read more »

view all »

Women in the City Program

Update - February 2017

Feb 14, 2017


What skills do women need to be successful leaders in the Fintech and alternative finance industry?

Can emerging companies offer an opportunity for women to do something different? Can technology revolutionise conventional financial services? These and other questions were debated by a panel of high profile leaders from the European FinTech and alternative finance industry to discuss opportunities and challenges for women in this growing area as part of Cadwalader’s Women in the City Programme, a series of seminars designed to inspire more women to take leadership roles in their organisations by offering open dialogue, useful insights and practical guidance.


Related Attorney(s): Jeremiah Wagner
Related Office(s): London
read more »

Update - October 2016

Oct 14, 2016


How can more women be encouraged into funds?

This question was debated by a panel of women leaders in the investment fund industry at Cadwalader's second Women in the City debate.  The programme of discussions is designed to inspire more women to take leadership roles in their organisations by offering open dialogue, useful insights and practical guidance. Cadwalader hosted a large group of clients and colleagues over breakfast for a very lively panel discussion entitled "Women in Investment Funds: A Fundamental Advantage: Building Female Talent in the Investment Management Sector".


Related Attorney(s): Ingrid Bagby
Related Office(s): London
read more »

Update - August 2016

Aug 04, 2016


What skills do women need to be successful leaders?

This question was debated by a panel of high profile female leaders at the recent launch of Cadwalader's Women in the City Programme, a series of seminars designed to inspire more women to take leadership roles in their organisations by offering open dialogue, useful insights and practical guidance.


Related Attorney(s): Gregory Petrick
Related Office(s): London
read more »

view all »

Videos

Closing the Borders

Mar 8, 2018

Our Civil Rights Series continued on March 8 with "Closing the Borders." Anthony Romero, Executive Director of the American Civil Liberties Union (ACLU), joined us to discuss DACA, the border wall, due process and citizenship.


Related Page(s): Civil Rights Series, Diversity & Inclusion

Still Marching Into Selma

Jan 31, 2018

Our 2018 Civil Rights Series opened with guest speaker Richard Cohen, President of the Southern Poverty Law Center, discussing the organization's plans for 2018.


Related Page(s): Civil Rights Series, Diversity & Inclusion

Rock Paper Scissors: Religious Freedom or Equal Rights?

Nov 1, 2017

During the fifth installment of the Civil Rights Series – "Rock Paper Scissors: Religious Freedom or Equal Rights?" – Janson Wu, Executive Director at GLAD and Columbia Law Professor Suzanne Goldberg led a discussion on the class of two core American values – religious freedom and freedom from discrimination. We discussed historical cases and the Masterpiece Cakeshop case.


Related Page(s): Civil Rights Series, Diversity & Inclusion

CadwaladerSpotlight

April 19: Trading Risk's London ILS Conference 2018

Robert Cannon will discuss the U.K.’s new insurance-linked securities framework.

Cadwalader's research and intelligence platform provides analysis on changes in U.S. financial regulation. Subscribers receive a daily newsletter interpreting new laws, rules and enforcement actions that impact financial institutions.