Charles Duross, who secured almost $2 billion in corporate penalties as the head of the U.S. Justice Department unit devoted to pursuing foreign bribery cases, has left the government to join Morrison & Foerster LLP in Washington.
Securities class-action lawsuits in the U.S. increased 6.8 percent last year, led by claims against companies involved in mergers and acquisitions and Chinese companies listed on U.S. exchanges through reverse mergers, a study found.
The number of securities class action settlements approved by U.S. courts dropped in a “weak year” to the lowest point in a decade as the average amount of each accord fell by 42 percent in 2011, according to a report.
Weil Gotshal & Manges LLP and Proskauer Rose LLP represented American Realty Capital Properties Inc., which offered to buy Cole Credit Property Trust III Inc. for at least $5.7 billion, seeking to create one of the largest real-estate investment trusts that leases space to single tenants. Sullivan & Cromwell LLP is advising Cole Holdings as owner of the external manager to Cole Credit Property Trust III.