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☆ FTX's Bankman-Fried hires white collar defense attorney Mark Cohen
▼ + stars: | 2022-12-06 | by ( Chris Prentice | ) www.reuters.com time to read: +3 min

Bankman-Fried has retained Cohen, of Cohen & Gresser, Bankman-Fried's spokesperson Mark Botnick said in an emailed statement. In recent weeks, U.S. authorities have sought information from investors and potential investors in FTX, according to two sources with knowledge of the requests. Federal prosecutors in New York are asking for details on any communications such firms have had with the crypto firm and its executives, including Bankman-Fried, the sources said. The Securities and Exchange Commission has been asking for similar information from investors as well, one of the sources said. "I didn't ever try to commit fraud," Bankman-Fried said, adding that he doesn't personally think he has any criminal liability.

[1/2] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. Ellison, who ran trading firm Alameda Research, has hired Washington-based law firm Wilmer Cutler Pickering Hale and Dorr to represent her, a source familiar with the matter told Reuters. Semafor previously reported Mills' advisory work for Bankman-Fried. FTX secretly transferred customer funds to its affiliate Alameda Research to fill a shortfall at the crypto trading firm, Reuters has previously reported. The Wall Street Journal has previously reported that Ellison and senior FTX officials knew the crypto exchange had dipped into its customer funds to help Alameda meet liabilities.

The FOIA request sought, among other things, communications between SEC Chair Gary Gensler and various stakeholders involved in retail stock trading. Cifu has said Virtu may sue the SEC over potential rule changes Gensler outlined in June. Agencies legally have 20 days to respond to FOIA requests, but are not required to provide all responsive documents within that time frame. FOIA requests do not always yield substantive responses and can have lengthy waiting periods. Virtu is represented by law firm Paul, Weiss, Rifkind, Wharton & Garrison, where Cifu previously worked as a lawyer.

☆ ‘Young Bloomsbury’ Review: A Bohemia of Their Own
▼ + stars: | 2022-11-25 | by ( Donna Rifkind | ) www.wsj.com time to read: +1 min

It’s impossible to appreciate the context of Nino Strachey’s book “Young Bloomsbury” without a clear understanding of what Old Bloomsbury was. Unfortunately, that presents its own difficulties, since no one, not even the Bloomsbury Group’s original members, has ever agreed on how to define it. The achievements of the group took place in a variety of fields: literature (Virginia Woolf and E.M. Forster), art history (Roger Fry and Clive Bell), biography (Lytton Strachey), painting and decorative arts (Vanessa Bell and Duncan Grant), international politics (Leonard Woolf) and economics (John Maynard Keynes). Among them, Virginia Woolf, Keynes and Fry were the farthest-reaching innovators. But if the others did not reach the same heights, their work nonetheless remains significant.

☆ Law Firms Prepare for Slowdown After Record Demand
▼ + stars: | 2022-11-25 | by ( Erin Mulvaney | ) www.wsj.com time to read: 1 min

Brad Karp, chairman of Paul, Weiss, Rifkind, Wharton & Garrison, said firms are willing to pay top-dollar for high-performing partners in strategically important practice areas. Law firms are bracing for economic uncertainty after record-breaking revenues last year and hiring sprees that saw even some lower-level lawyers netting six-figure signing bonuses. Market volatility, inflation and rising interest rates have put a damper on corporate merger and acquisition activity, which in turn has cut into a key stream of revenue that has fueled recent boom times in the legal industry. The slowdown is putting pressure on law-firm hiring and prompting firm leaders to look for growth opportunities in other practice areas, including in bankruptcy, restructuring, litigation and government regulation work.

☆ FTX founder's remarks pose challenge for his lawyers
▼ + stars: | 2022-11-18 | by ( Andrew Goudsward | ) www.reuters.com time to read: +4 min

Nov 18 (Reuters) - FTX founder Sam Bankman-Fried, facing mounting legal challenges over the collapse of his cryptocurrency exchange, may have harmed his defense by speaking publicly in recent days, legal experts said. Bankman-Fried has sought to explain the implosion of FTX and disparaged government regulators in posts on Twitter and conversations with reporters. Attorneys said such statements will likely make life more difficult for the defense lawyers seeking to manage fallout from the exchange’s demise and navigate multiple federal investigations. His law firm represents many other financial industry clients. Joseph is a former president of the American College of Trial Lawyers who has written about racketeering law and rules of evidence.

☆ Estee Lauder to buy fashion label Tom Ford in $2.8 billion deal
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +2 min

Nov 15 (Reuters) - Estee Lauder Cos Inc (EL.N) said on Tuesday it agreed to buy U.S. fashion label Tom Ford for $2.8 billion, its biggest deal yet, adding a line of beauty products and apparel to the Clinique brand owner's portfolio. While Estee Lauder already sells Tom Ford beauty products and fragrances, the deal has raised some eyebrows on Wall Street. (https://reut.rs/3tqhWrK)As of Tuesday's close, Estee's stock fell 17% since the deal talks with Tom Ford were reported by the media in August. Tom Ford had entered into exclusive negotiations with Estee Lauder last week, beating competing bids from companies including Gucci owner Kering SA (PRTP.PA), the Financial Times reported on Friday. Chief Executive Officer Tom Ford will continue to serve as the brand's creative visionary.

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