Quinn Emanuel leads as 12 banks pay $1.87bn in swap settlement

Quinn Emanuel Urquhart & Sullivan took on some of Wall Street’s finest firms including Sullivan & Cromwell and Skadden Arps Slate Meagher & Flom, as a dozen major banks, data provider Markit and International Swaps and Derivatives Association (ISDA) were accused by investors of rigging the credit derivatives market in a case which resulted in a $1.87bn settlement.

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Revolving doors: TLT and SPB expand in the regions while Ashurst bolsters its finance practice

The UK’s regional hubs saw a spree of hiring as TLT strengthened its corporate practice in Manchester after a law firm’s collapse and Squire Patton Boggs bulked up in Leeds. Meanwhile, Ashurst enlarged its finance practice in Europe with the addition of two new partners and Fladgate recruited an employment partner.

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Ashurst rebuilds in the City with Skadden’s former global private equity co-head Lascelles

Having lost a string of London-based corporate stars in the last two years, Ashurst is making efforts to enhance its offering once more with the hire of Skadden, Arps, Slate, Meagher & Flom’s former global private equity co-head Shaun Lascelles.

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Completing the set: Morgan Lewis takes another two partners from K&L Gates in City structured finance push

Morgan, Lewis & Bockius has recruited two further partners from K&L Gates, adding to the three already to have made the move in July, as the US firm builds its City securitisation offering.

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Europe’s re-emerging CLO market sees Sidley and Ropes turn to Weil Gotshal to boost structured finance teams

Weil, Gotshal & Manges‘ structured finance practice in the City has been hit by the departure of two lawyers with partner Rupert Wall heading to Sidley Austin and senior associate Chris McGarry making partner at Ropes & Gray.

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SFO wins ‘significant victory’ in landmark Libor case as trader Hayes found guilty

In a fillip for the Serious Fraud Office (SFO), the first person to go on trial after a global investigation into interest rate manipulation scandal, Tom Hayes, has been found guilty at Southwark Crown Court and convicted on eight counts of conspiracy to defraud.

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