Asset Management

  • October 17, 2024

    PE-Backed Polish Retailer Zabka Rings Up $1.6B IPO

    Private equity-backed Zabka Polska SA closed flat in debt trading on Thursday after the Polish convenience store giant priced an initial price offering that raised 6.45 billion zloty ($1.62 billion) at the top of its range, marking Europe's fourth-largest listing this year.

  • October 17, 2024

    Hogan Lovells, Ropes & Gray Lead $550M Coatings Biz Sale

    Paint and coatings company PPG, advised by Hogan Lovells, has agreed to sell its architectural coatings business in the U.S. and Canada to Ropes & Gray LLP-led investor American Industrial Partners for $550 million, according to a Thursday statement from PPG.

  • October 17, 2024

    FTX Insider Cites 'Limited' Fraud Role In Bid To Avoid Prison

    The former head of engineering at FTX asked a Manhattan federal judge to spare him prison time in light of his cooperation with prosecutors and what he said was a relatively "limited" role in the crypto exchange's billion-dollar fraud.

  • October 17, 2024

    Randy Newman Sells Music Rights To Carlyle-Backed Litmus

    Musician and songwriter Randy Newman has sold his stake in his recorded music and publishing rights to Carlyle-backed music rights business Litmus Music, a transaction that includes decades of popular recordings and music from feature films, including the song "You've Got A Friend In Me" from 1995's "Toy Story," Litmus said Thursday.

  • October 17, 2024

    Feds Say Accused Embezzler Used Company Card After Arrest

    Boston federal prosecutors say a Florida man awaiting trial on charges he embezzled nearly $6 million from his former employer held onto a corporate American Express card and used it for personal items including 14 bottles of pricey Veuve Clicquot champagne.

  • October 17, 2024

    Simpson-Led Silver Lake Inks $1.7B Deal For Zuora

    Simpson Thacher & Bartlett LLP is guiding California-based tech investor Silver Lake on an agreement to buy Zuora Inc., a monetization software platform for businesses, at a $1.7 billion value, Zuora said Thursday. 

  • October 16, 2024

    2 CPAs Get 20 Months For Roles In $1.3B Tax Shelter Scheme

    Two certified public accountants were each sentenced in Georgia federal court to nearly two years in prison for selling tens of millions of dollars in false tax deductions to their rich clients as part of a $1.3 billion tax fraud scheme, the U.S. Department of Justice announced Wednesday.

  • October 16, 2024

    ConocoPhillips Targets Hedge Fund Over Del. Citgo Sale

    ConocoPhillips has initiated a new lawsuit in Delaware in an attempt to preserve the value of Citgo's indirect parent company, PDV Holding Inc., for an upcoming auction aimed at satisfying Venezuelan debt, as Connecticut hedge fund Gramercy allegedly threatens to undermine the long-awaited Citgo sales process.

  • October 16, 2024

    Ex-Davis Polk Atty Drops Appeal Of Bias Verdict Loss

    A former Davis Polk & Wardwell LLP associate on Tuesday dropped his appeal of a jury verdict clearing the firm and two lawyers of liability in a suit alleging he was fired in retaliation for airing concerns about racial bias and diversity.

  • October 16, 2024

    En Banc DC Circ. Will Revisit Campaign Finance Appeal

    The full D.C. Circuit will revisit an appeal implicating the court's authority to review the Federal Election Commission's decisions on campaign finance complaints when those decisions rest on commissioners' so-called prosecutorial discretion.

  • October 16, 2024

    Hawaii Utility Beats Investor Suit Over Wildfire, For Now

    A California judge on Tuesday dismissed a shareholder suit filed against Hawaiian Electric Industries Inc. in the wake of a deadly fire on Maui in 2023, but will allow plaintiffs to amend their claims that the company failed to warn investors about its inadequate risk mitigation program.

  • October 16, 2024

    NYSE Seeks To Curb Reverse Splits In Latest Crackdown

    The New York Stock Exchange wants to limit companies' ability to rely on reverse stock splits to raise their share prices and avoid delisting, submitting a proposal shortly after regulators approved a Nasdaq plan to rein in such splits.

  • October 16, 2024

    PE Firm Trashed Exec To Avoid Payout In $98M Deal, Suit Says

    A Summit Partners affiliate and several executives concocted false allegations of misconduct to get out of fully compensating the owner of an investment management firm as part of an acquisition worth a reported $97.6 million, according to a complaint filed in Massachusetts state court.

  • October 16, 2024

    Duquesne University Beats Ex-Gift Officer's Age Bias Suit

    Duquesne University defeated a former gift officer's suit claiming he was fired for complaining that his boss reassigned work to a younger employee because he was in his 60s, with a Pennsylvania federal judge ruling that he failed to identify a comparable colleague who was treated better.

  • October 16, 2024

    Skadden Drives Forest Road To Formula E Team Acquisition

    Los Angeles-based investment firm The Forest Road Company, advised by Skadden Arps Slate Meagher & Flom LLP, has purchased the ERT Formula E team. The team is rebranding as Kiro Race Co as it prepares to enter the 11th season of the ABB FIA Formula E World Championship under new ownership.

  • October 15, 2024

    10th Circ. Won't Reboot Short Sellers' Suit Against Overstock

    In a decision dealing with matters of first impression, the Tenth Circuit on Tuesday declined to revive a hedge fund's proposed class action accusing Overstock.com Inc. and its leadership of manipulating the market when it said it would pay shareholders using cryptocurrency but abandoned the plan to force short sellers into a "squeeze."

  • October 15, 2024

    Kirkland-Led Boeing Seeks Up To $35B Amid Labor Strike

    Boeing notified regulators on Tuesday of plans to raise up to $35 billion through securities offerings and a credit agreement, guided by Kirkland & Ellis LLP, as the aviation giant seeks access to cash amid a prolonged strike and production cuts.

  • October 15, 2024

    Benefit Cos. Urge Justices Take Up Cert. Fight From 5th Circ.

    Three benefit companies urged the U.S. Supreme Court to review a Fifth Circuit decision upholding certification of a class of more than 290,000 workers in a suit alleging excessive health and retirement plan fees, arguing the justices need to iron out a circuit split on standing requirements.

  • October 15, 2024

    Hedge Fund Urges Justices To Hear Swing-Trade Case

    The U.S. Supreme Court has been asked by a hedge fund facing insider trading allegations to address "significant and recurring issues" that allowed a 1-800-Flowers.com shareholder to proceed with his derivative lawsuit despite failing to prove that the company was harmed in any way by the fund's short-swing trades.

  • October 15, 2024

    4 Firms Steer Ownership Shakeup At 'Dune' Movie Maker

    Legendary Entertainment has completed a buyout of Chinese company Wanda Group's remaining equity interest in the movie studio behind "Dune" and "Dune: Part Two," a deal that gives sole ownership of the company to Legendary's management and funds managed by affiliates of Apollo.

  • October 15, 2024

    Three Cos. Combine On $3.4B Texas Data Center Complex

    Blue Owl Capital, infrastructure firm Crusoe Energy Systems and investor Primary Digital Infrastructure said Tuesday they are pooling $3.4 billion to build a 1 million-square-foot data center campus in Abilene, Texas.

  • October 15, 2024

    PE-Backed Ingram Micro Leads 2 IPOs Seeking $466M Total

    Private equity-backed information technology company Ingram Micro Holding Corp. on Tuesday unveiled a price range on an estimated $400 million initial public offering set to price next week, one of two companies to launch plans for IPOs that could net $466 million combined.

  • October 15, 2024

    Willkie-Led Insight Partners Clinches $1.5B Continuation Fund

    Willkie Farr & Gallagher LLP-advised Insight Partners, a private equity shop focused on investing in software, on Tuesday announced that it wrapped its third continuation fund after raising approximately $1.5 billion of commitments.

  • October 15, 2024

    Frontier May Be Worth 2 Times Verizon's Bid, Investor Warns

    Frontier Communications Parent Inc. stockholder Cooper Investors Pty Ltd. on Tuesday expressed "strong opposition" to Verizon Communications Inc.'s planned $20 billion deal to absorb the company, arguing Frontier could be worth nearly double the $38.50 per share that Verizon plans to pay.

  • October 15, 2024

    Law Firms Diverge As Anti-ESG Pushback Continues

    A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.

Expert Analysis

  • How Fund Advisers Can Limit Election Year Pay-To-Play Risks

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    With Minnesota Gov. Tim Walz now the Democratic candidate for vice president, politically active investment advisers should take practical steps to avoid triggering strict pay-to-play rules that can lead to fund managers facing mutli-year timeouts from working with public funds after contributing to sitting officials, say attorneys at Dechert.

  • Why Attorneys Should Consider Community Leadership Roles

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    Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.

  • 9 Liability Management Tips As Debt Maturity Cliff Looms

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    As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

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    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • 5 Ways Life Sciences Cos. Can Manage Insider Trading Risk

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    In light of two high-profile insider trading jury decisions against life sciences executives this year, public companies in the sector should revise their policies to account for regulators' new and more expansive theories of liability, says Amy Walsh at Orrick.

  • 5 Tips To Succeed In A Master Of Laws Program And Beyond

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    As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.

  • Series

    After Chevron: SEC Climate And ESG Rules Likely Doomed

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    Under the U.S. Supreme Court's recent decision in Loper Bright, without agency deference, the U.S. Securities and Exchange Commission's climate disclosure and environmental, social and governance rules would likely be found lacking in statutory support and vacated by the courts, says Justin Chretien at Carlton Fields.

  • Assessing Whether Jarkesy May Limit FINRA Prosecutions

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    The U.S. Supreme Court’s recent decision in Jarkesy v. U.S. Securities and Exchange Commission, holding that civil securities fraud defendants are entitled to jury trials, may cause unpredictable results when applied to Financial Industry Regulatory Authority prosecutions, say Barry Temkin and Kate DiGeronimo at Mound Cotton.

  • Series

    Being An Opera Singer Made Me A Better Lawyer

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    My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.

  • Amid SEC Rule Limbo, US Cos. Subject To ESG Regs In EU

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    Though the U.S. Securities and Exchange Commission is facing legal challenges to its climate-disclosure rulemaking, the implementation of the Corporate Sustainability Reporting Directive in the European Union will force U.S. companies to comply with exactly the kinds of ESG disclosures that are not yet mandated in the U.S., say attorneys at Squire Patton.

  • How Law Firms Can Avoid 'Collaboration Drag'

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    Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.

  • Banking Compliance Takeaways From Joint Agency Statement

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    Federal bank regulatory agencies’ recent joint statement warning of risks associated with third-party fintech deposit services spotlights a fundamental problem that may arise with bank deposit products that are made through increasingly complex customer relationships, says Tom Witherspoon at Stinson.

  • 6 Considerations To Determine If A Cyber Incident Is Material

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    The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.

  • Opinion

    Litigation Funding Disclosure Key To Open, Impartial Process

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    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Whistleblowers Must Note 5 Key Differences Of DOJ Program

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    The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.

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