January 17, 2017

Stroock Advises KUKA AG Before CFIUS Related to $5 Billion Acquisition by Chinese Investor

PRESS RELEASE | Stroock attorneys acted as counsel to KUKA AG before the Committee on Foreign Investment in the United States (CFIUS) and the Directorate of Defense Trade Controls in connection with KUKA’s recent acquisition by MECCA International (BVI) Limited, a subsidiary of Midea Group Ltd., a Chinese corporation. KUKA, a German corporation and one of the leading manufacturers of industrial robots, has several businesses in the United States.

  • January 14, 2017

    Stephen Newman quoted in "Looking on the Bright Side: Investors may Cheer Trump Plans"

    NEWSDAY | Stephen J. Newman, a partner in Stroock’s Financial Services/Class Action Practice Group, was quoted in a Newsday article that discusses what a Trump presidency could mean to investors. ...Read More

    January 13, 2017

    Stroock Welcomes Thomas Zampino as Special Counsel to its Tax Certiorari Practice

    PRESS RELEASE | Thomas Zampino has joined Stroock’s Real Estate Tax Certiorari Practice Group as special counsel in the New York office. Mr. Zampino’s practice focuses on real property tax assessment, abatement and exemption matters and other related real estate tax issues. He has represented individual and institutional owners of commercial, residential, retail and industrial properties....Read More

  • January 11, 2017

    Robert Plaze quoted in "SEC Blesses Negotiable Mutual-Fund Fees"

    THE WALL STREET JOURNAL | Robert E. Plaze, a partner in Stroock’s Investment Management Practice Group, was quoted in a Wall Street Journal article that discusses mutual fund commissions in light of a recent approval granted by the Securities and Exchange Commission permitting Capital Group Cos. of Los Angeles to set their own mutual fund charges rather than setting commissions and fees....Read More

    January 10, 2017

    Stephen Newman quoted in "Tribune Co Shareholders’ Legal Woes over 2007 Buyout Near End"

    REUTERS | Stephen J. Newman, a partner in Stroock’s Financial Services/Class Action Practice Group, was quoted in a Reuters article on a New York federal ruling against an effort by creditors of the former Tribune Co to obtain $8 billion from shareholders who sold stock in the publisher’s 2007 buyout. ...Read More

  • January 7, 2017

    James Sammataro featured on "The Craig Silverman Show" Podcast

    710 KNUS | James G. Sammataro, a partner in Stroock’s Entertainment and Litigation Practice Groups and managing partner of the firm’s Miami office, was a guest on The Craig Silverman Show where he discussed his background as well as Burke Ramsey’s defamation lawsuit against CBS stemming from the recent two-part docuseries on the 20th anniversary of JonBenet’s death. ...Read More

    January 5, 2017

    Daniel Simon quoted in "Integration of Renewables Into the Grid Uncertain Under Trump"

    BLOOMBERG BNA | Daniel R. Simon, special counsel in Stroock’s Energy and Project Finance Practice Group, was quoted in a Bloomberg BNA article on attorneys and energy policy professionals tracking the Federal Energy Regulatory Commission to see if the incoming Trump administration continues current progress on integrating renewables and battery storage into the nation’s electric grid....Read More

  • January 2, 2017

    Michael Keats quoted in "Securities Regulation To Watch In 2017"

    LAW360 | Michael C. Keats, a partner in Stroock’s Litigation Practice Group, was quoted in a Law360 article that discusses important securities issues in the new year, including the Dodd-Frank Act, the impact of a Republican majority on securities laws and the Department of Labor’s Fiduciary Rule....Read More

    January 2, 2017

    Quyen Truong quoted in "Banking Litigation To Watch In 2017"

    LAW360 | Quyen Truong, a partner in Stroock’s Financial Services/Class Action Practice Group, was quoted in a Law360 article that highlights some of the large cases to watch in 2017, including a matter between PHH Corp. and the Consumer Financial Protection Bureau. ...Read More


Join Anne Salladin at ACI's Third National Forum on CFIUS & Team Telecom

Join Stroock Special Counsel Anne Salladin at the American Conference Institute’s Third National Forum on CFIUS & Team Telecom on February 1, 2017 in Washington, DC.

The program will provide sophisticated discussions on the most pressing issues affecting high stakes transactions.

  • February 1, 2017 - American Conference Institute’s Third National Forum on CFIUS & Team Telecom
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  • February 23-25, 2017 - The Maples Investment Funds Forum
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  • February 28-March 1, 2017 - Institutional Investor Legal Forum's Winter Roundtable
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  • January 17, 2017 | STROOCK SPECIAL BULLETIN

    "SEC to Permit 'Swing Pricing' for Open-End Funds"

    The Securities and Exchange Commission has now codified a new mechanism to deal with the risk of dilution in the value of mutual fund shares caused by ordinary purchase and redemption activities. The mechanism is referred to as “swing pricing” and it can be found in a new subparagraph (a)(3) of Rule 22c-1 under the Investment Company Act of 1940 (the “1940 Act”). Swing pricing will permit funds to adjust their net asset value under specified circumstances to cause the costs stemming from shareholder purchase and redemption activity to be shared with the purchasing or redeeming shareholders.

    Swing pricing will be optional for eligible funds, but will not be available for any funds until October 2018. This Stroock Special Bulletin provides an overview of swing pricing, the policies and procedures that a fund must adopt if it chooses to utilize swing pricing, and the record keeping and reporting requirements to which the fund will be subject.

  • January 11, 2017 | STROOCK SPECIAL BULLETIN

    "Recent Developments in U.S. Department of Labor Overtime Regulations and Impact for New York Employers"

    In late November 2016, Judge Mazzant of the U.S. District Court for the Eastern District of Texas issued a preliminary injunction preventing the U.S. Department of Labor (“DOL”) from implementing new regulations which, among other things, would have increased the minimum salary level required to qualify to be exempt from overtime. These regulations would have extended overtime eligibility to an estimated 4.2 million workers or resulted in these employees receiving substantial salary increases.

    As discussed in this Stroock Special Bulletin, regardless of the outcome of the injunction, New York employers will still be required to raise salaries or reclassify certain employees as non-exempt. The New York State Department of Labor (“NYSDOL”) recently adopted regulations, effective December 31, 2016, similar to those issued by the DOL, that raise the salary threshold for exempt status under the New York Labor Law.

  • January 5, 2017 | COMPENDIUM

    "Investment Management and Related Practices: Compendium of Articles Published in 2016"

    Throughout 2016, Stroock's Investment Management practice and our related interdisciplinary practice areas published several articles of interest to industry participants. These publications include a detailed article on the SEC's highly-anticipated proposed rulemaking governing the use of derivatives and financial commitment transactions by funds and BDCs, two related articles on the SEC's focus on business continuity and transition planning by registered funds and investment advisers, and an introductory article on the last set of key investment company rulemakings in 2016 governing liquidity risk management, reporting modernization and swing pricing.

    In addition, investment advisers (especially their compliance departments) may be interested in the article on the SEC's recent enforcement actions against wrap fee program participants. Finally, funds with commodities exposure or that invest in offshore investment vehicles may be interested in an article by our tax group covering a new revenue procedure and proposed IRS regulations that could affect a fund's ability to satisfy the gross income and asset diversification tests under the Internal Revenue Code.

  • January 2017 | HABITAT

    "The Meaning of 'And'"

    At some point, almost every cooperative board asks about the proprietary lease's "use clause." When it says the apartment can be used as a private dwelling by the lessee and the lessee's family, does that mean that both the lessee and the family must live there simultaneously? Some cooperatives have amended their leases, so that the language is unequivocal: "The apartment can be used as a private dwelling by lessee and simultaneously therewith, the lessee's family" (italics added).

    But there is a startling dearth of case law on this subject. In other words, what does "and" really mean?