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Private Equity
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February 06, 2025
Weil Hires PE, Sports Ace Away From Hogan Lovells
Weil Gotshal & Manges LLP's U.S. private equity group has brought on a former Hogan Lovells partner who advised buyers of the National Women's Soccer League's Washington Spirit and the NFL's Washington Commanders and Denver Broncos, among other major deals in the sports world, the firm has announced.
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February 06, 2025
Private Equity Group Of The Year: Ropes & Gray
A team of Ropes & Gray LLP attorneys helped shepherd a private equity firm's purchase of AT&T's stake in DirecTV for more than $7.5 billion and led several other deals with similarly large price tags last year, earning it a spot among the 2024 Law360 Private Equity Groups Of The Year.
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February 06, 2025
Hamilton Lane Clinches Inaugural Venture Fund At $615M
Private equity shop Hamilton Lane, led by DLA Piper, on Thursday announced that it closed its inaugural Venture Access Fund with $615.3 million in tow.
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February 06, 2025
Meta Eyes Texas Skies, Another Crypto IPO, And More Rumors
Facebook owner Meta Platforms Inc. is considering relocating its legal residence to Texas, while cryptocurrency exchange Bullish is moving forward on an initial public offering, and Unilever PLC is eyeing New York as a listing destination for its ice cream business.
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February 06, 2025
Mobility Scooter Co. Gets Nod For $2.1M Deal In ESOP Fight
A Pennsylvania federal judge gave initial approval to a $2.1 million deal Thursday that would resolve a class action claiming a mobility scooter company invested funds from its employee stock ownership plan into dismally performing Treasury bills and cash equivalents.
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February 06, 2025
Honeywell To Split Into 3 Entities After Activist Pressure
Industrial conglomerate Honeywell, advised by Skadden Arps Slate Meagher & Flom LLP, on Thursday unveiled plans to fully separate its automation and aerospace technology businesses, which when paired with the company's previously announced plan to spin off its advanced materials business, will result in three separate publicly traded companies.
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February 06, 2025
Kirkland Guiding TPG On $2.2B Altus Power Purchase
Kirkland & Ellis LLP-advised TPG has agreed to purchase Latham & Watkins LLP-guided Altus Power in a deal that values the Stamford, Connecticut-based solar energy provider at approximately $2.2 billion, including debt, Altus said in a Thursday statement.
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February 05, 2025
Paramount-Skydance Merger Block Sought Pending Del. Suit
Five Paramount Global pension fund stockholders sought a preliminary injunction in Delaware late Wednesday seeking to block closing on the estimated $8 billion Paramount-Skydance Media merger pending a decision on a still-sealed Court of Chancery breach of fiduciary duty suit filed Tueday night.
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February 05, 2025
'Dog Eat Dog' Contract Raises Connecticut Justice's Hackles
A Connecticut Supreme Court justice on Wednesday challenged private equity firm members fighting a former member's trial court victory in a breach suit over the partnership, suggesting that the winner may have had a viable fiduciary duty claim over the "dog eat dog" operating agreement that apparently allows members to "screw" a minority shareholder.
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February 05, 2025
Judge Won't Pause Crowdfunding Case After Fraud Indictment
A target of the U.S. Securities and Exchange Commission's first crowdfunding enforcement action can't pause that three-year-old case to defend himself against unrelated charges that he ran a pump-and-dump scheme with a hallucinogenic mushroom company, a Michigan judge ruled Wednesday.
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February 05, 2025
Chancery Tosses Challenge To $1.1B Smart & Final Sale
Writing that nothing in a "grab bag" of stockholder claims amounted to disclosure failures, Delaware's chancellor dismissed a suit challenging the $1.1 billion April 2019 sale of Smart & Final Stores Inc. — formerly controlled by funds of Ares Management Corp. — to interests of Apollo Global Management.
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February 05, 2025
Insignia Gets Third $1.9B Bid As Brookfield Joins The Fray
Insignia Financial Ltd. said Wednesday that Brookfield has become the third investment firm to offer more than $1.9 billion to buy the Australian financial services company.
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February 05, 2025
Entertainment-Focused SPAC Raises $200M To Purse Merger
Special purpose acquisition company K&F Growth Acquisition II began trading publicly Wednesday after raising $250 million in its initial public offering, which will be used to help the SPAC merge with a target in the in-person and mobile experiential entertainment sector.
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February 05, 2025
MoFo Adds BraunHagey Corporate Leader In San Francisco
Morrison Foerster LLP continues expanding its emerging companies and venture capital team, announcing Wednesday a BraunHagey & Borden LLP startup and venture capital specialist has come aboard as a partner in its San Francisco office.
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February 05, 2025
Missile-Defense Firm Karman Launches Plans For $400M IPO
Missile-defense and space programs company Karman Holdings Inc. launched plans Wednesday for an estimated $400 million initial public offering that would raise fresh funding for the private equity-backed business and its shareholders, represented by Willkie Farr & Gallagher LLP and underwriters' counsel Latham & Watkins LLP.
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February 05, 2025
Latham Adds Ex-SEC Pro, GC To NY Roster
The former acting director of the U.S. Securities and Exchange Commission's enforcement arm and a private capital specialist with in-house and private practice experience have come aboard Latham & Watkins LLP, the firm announced Wednesday, marking the latest in a flurry of lateral hires entering Latham's New York office since fall 2024.
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February 05, 2025
Sheppard Mullin Adds Healthcare Reg Partner From Troutman
Sheppard Mullin Richter & Hampton LLP on Wednesday announced the arrival of a healthcare partner joining from Troutman Pepper Locke LLP, continuing a streak of recent additions to its healthcare practice.
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February 05, 2025
Private Equity Group Of The Year: Debevoise
Debevoise & Plimpton LLP steered private equity giant Clayton Dubilier & Rice in its $15.5 billion acquisition of Truist Insurance Holdings and led Windstream Holdings in its $13.4 billion merger with Uniti Group, earning the firm a spot among the 2024 Law360 Private Equity Groups of the Year.
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February 05, 2025
Activist Nominates 4 Director Candidates To Kenvue Board
Activist investor Starboard Value LP on Wednesday unveiled its slate of four director candidates to be nominated to consumer products company Kenvue Inc.'s board of directors, saying that significant changes to the board are necessary to ensure the company is managed and overseen in a manner consistent with the best interests of its shareholders.
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February 04, 2025
OpenAI Judge Rips Musk's 'Broad' Bid To Block For-Profit
A California federal judge indicated Tuesday she'll likely deny Elon Musk's bid to preliminarily block OpenAI Inc. from transitioning into a for-profit enterprise, criticizing Musk's filings for being vague and broad and saying she'll toss some claims, while adding "something is going to trial in this case."
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February 04, 2025
SEC Receiver, Atty Agree To Settle Fraud Transfer Claims
A court-appointed receiver for a U.S. Securities and Exchange Commission case has reached a settlement with parties who allegedly received hundreds of thousands of dollars' worth of transfers from a fraudulent foreign exchange trading scheme, including the attorney and family of a convicted executive.
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February 04, 2025
McKesson Paying $850M For Top Stake In Eye Health Co.
Irving, Texas, healthcare services company McKesson Corp. said Tuesday it had agreed to buy a controlling interest in PRISM Vision, an ophthalmology services provider, from private equity firm Quad-C for $850 million.
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February 04, 2025
Real Estate PE Firm Closes $125M Sunbelt-Focused Fund
Tioga Capital LLC collected $125 million worth of capital commitments for a fund that aims to invest in real estate in the Sun Belt, the Atlanta-based real estate investment firm announced Tuesday.
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February 04, 2025
PE-Backed Identity Software Firm SailPoint Primes $1B IPO
Cybersecurity firm SailPoint on Tuesday unveiled plans for an estimated $1 billion initial public offering that would mark its return to public markets three years after a private-equity buyout, represented by Kirkland & Ellis LLP and the underwriters' counsel, Davis Polk & Wardwell LLP.
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February 04, 2025
Private Equity Group Of The Year: Skadden
Skadden Arps Slate Meagher & Flom LLP has been handling private equity deals since before they were called private equity and continues to be a leader in the field, in the past year helping Visma hit a $21 billion valuation, assisting in BlackRock's $12.9 billion acquisition of Global Infrastructure Partners and advising Permira on its investment in PharmaCord, earning it recognition among the 2024 Law360 Private Equity Groups of the Year.
Expert Analysis
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How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
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Short-Seller Implications Of 10th Circ.'s Overstock Decision
The Tenth Circuit's Oct. 15 decision in Overstock Securities Litigation provides clarity on the pleading standard for a market manipulation claim under the Exchange Act, and suggests that short sellers might not be able to rely on the fraud-on-the-market presumption typically invoked by securities plaintiffs, say attorneys at Paul Weiss.
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Fostering Healthcare Industry Success With Joint Ventures
As the healthcare industry continues to evolve, joint ventures remain a key strategy to unite health systems, private equity firms and physician practices in leveraging their collective strengths to foster innovation and improve patient care, say Carole Becker and Travis Jackson at McDermott.
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Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
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The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
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Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
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Budding Lessons From Landmark Plant Seed Patent Battle
The Corteva v. Inari case involving intellectual property rights in genetically modified plants is now proceeding through discovery and potentially to trial, and will raise critical questions that could have a major impact on the agriculture technology industry, say Tate Tischner and Andrew Zappia at Troutman Pepper.
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Anticipating Jarkesy's Effect On Bank Agency Enforcement
Following the U.S. Supreme Court’s decision in U.S. Securities and Exchange Commission v. Jarkesy, federal courts may eventually issue decisions on banking law principles and processes that could fundamentally alter the agencies' enforcement action framework, and the relationship between banks and examiners, says Brendan Clegg at Luse Gorman.
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Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
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Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.
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Avoiding Merger Disputes Via Careful LLC Agreement Drafting
The Delaware Court of Chancery recently upheld a merger in a dispute over the process of amending the target's limited liability company agreement, underscoring the importance of understanding the Delaware LLC Act default rules and careful drafting to allow for contractual modifications, says Jane Trueper at Lathrop.
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Opinion
FDIC's Foray Into Index Fund Rules Risks Regulatory Chaos
A proposed Federal Deposit Insurance Corp. rule concerning control over passive index fund investments in banks is outside the agency's remit, clashes with an existing Federal Reserve process and would inhibit competition in the index fund sector, says J.W. Verret at George Mason University.
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Use The Right Kind Of Feedback To Help Gen Z Attorneys
Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.