Private Equity

  • June 27, 2024

    Ch. 7 Can't Free PE Firm From Suit, Diamond Polisher Says

    A Canadian diamond polisher urged a Michigan federal judge to keep alive its suit alleging that a lab-grown diamond company's private equity owner knew it couldn't make good on its promise to fund new facilities to process the gemstones, saying the fact that the company is going through bankruptcy can't shield the PE firm from liability for using its alter ego to make fraudulent statements.

  • June 27, 2024

    Deals Rumor Mill: Boeing, Blackstone, Bosch

    Boeing offers $4 billion for parts maker Spirit AeroSystems, Blackstone could sell Legence at up to $5 billion value, and Bosch mulls a bid for Whirlpool. Here, Law360 breaks down the notable deal rumors from the past week.

  • June 27, 2024

    Boeing Settles Suit Claiming NC Fund Ransomed Plane Parts

    The Boeing Co. and the private investment firm it accused of forcing a new supply contract under false pretenses before raising prices for aircraft parts by more than 300% have agreed to settle their dispute, according to a new notice filed in North Carolina federal court.

  • June 27, 2024

    Sichenzia Ross Guiding Fuel Cell Co. On $130M SPAC Merger

    Sichenzia Ross Ference Carmel LLP is advising Infintium Fuel Cell Systems Inc. on a newly inked blank-check company consolidation deal that values the hydrogen fuel cell technology provider at $130 million.

  • June 27, 2024

    Kirkland, V&E Build $2.55B Sale Of Uinta Basin Assets

    SM Energy Company, advised by Kirkland & Ellis LLP, on Thursday unveiled plans to acquire the Uinta Basin oil and gas assets from private equity-backed XCL Resources LLC, led by Vinson & Elkins LLP, for an unadjusted purchase price of $2.55 billion, then sell an undivided 20% of those assets to Kirkland-led Northern Oil and Gas for $510 million.

  • June 27, 2024

    Cannabis Co. Settles Lender Suit After Regulator Delays

    Troubled cannabis company Parallel settled a suit with three lenders who alleged a "self-dealing scheme" within the company after spending about a year trying to finalize the agreement and clear regulatory hurdles in various states.

  • June 27, 2024

    Vista Delays Czech Deal Vote In Light Of $3.2B MNC Bid

    Vista Outdoor Inc. said Thursday it will postpone a special meeting of stockholders to vote on the sale of part of its business to a Czech defense group in light of a new $3.2 billion buyout offer from Dallas-area private equity shop MNC Capital Partners LP. 

  • June 27, 2024

    Justices Limit SEC's Use Of In-House Courts

    The U.S. Supreme Court on Thursday curtailed the U.S. Securities and Exchange Commission's use of its in-house court system, saying the accused have a right to a jury trial when financial penalties are on the table.

  • June 26, 2024

    BlackRock Can't Escape Saba Capital's Voting Bylaws Suit

    A New York federal judge Tuesday refused to toss Saba Capital Management's lawsuit claiming a BlackRock Inc. environmental, social and corporate governance trust has illegal shareholder voting bylaws, but also refused to block BlackRock from applying the bylaws at issue to the current election.

  • June 26, 2024

    5th Circ. Says SEC Must Reconsider Axing Proxy Regulations

    The Fifth Circuit on Wednesday vacated the U.S. Securities and Exchange Commission's decision to rescind a portion of Trump-era rules requiring proxy advisory firms to notify companies about their advice to investors, ruling that the agency didn't adequately explain the abrupt change.

  • June 26, 2024

    Chamber Backs 9th Circ. Call To Nix SEC's 'Gag Rule'

    The U.S. Chamber of Commerce is among those calling on the Ninth Circuit to overturn a long-standing U.S. Securities and Exchange Commission policy that settling parties not be allowed to deny the allegations against them, saying that the so-called gag rule threatens the free speech rights of the accused.

  • June 26, 2024

    Online Comic Platform Leads 2 IPOs Raising $390M Total

    Online comic platform Webtoon Entertainment Inc. and Australian natural gas producer Tamboran Resources Corp. on Wednesday priced initial public offerings, raising a combined $390 million under the guidance of four law firms.

  • June 26, 2024

    Talc Co. Barretts' Creditors Push To Dismiss Ch. 11 Case

    Unsecured creditors of Barretts Minerals have urged a Texas bankruptcy judge to dismiss its bankruptcy following the debtor's sale of its talc business, arguing that Barretts remains in bankruptcy only to get its fully solvent parent company out of its talc liability.

  • June 26, 2024

    Conn. Insurance Chief Can Limit Struggling Insurer's Payouts

    A Connecticut state court imposed a temporary moratorium on certain benefits that a private equity-owned life insurer can pay out to policyholders until a rehabilitation plan can be confirmed for the failing carrier, granting the state insurance department's petition for a rehabilitation order.

  • June 26, 2024

    Judge Denies ConvergeOne Lenders' Bid To Halt Ch. 11 Plan

    A Texas federal judge has rejected a request by a group of ConvergeOne lenders to stay a bankruptcy court's order approving an equity rights offering included in the information technology company's Chapter 11 plan, ending the spurned lenders' challenge to a deal they claimed ran afoul of bankruptcy rules. 

  • June 26, 2024

    Greenberg Traurig Adds 3-Atty Team From Schulte Roth In NY

    Greenberg Traurig LLP has hired a three-attorney private wealth services team, comprising two shareholders and an associate, from Schulte Roth & Zabel LLP in New York.

  • June 26, 2024

    Latham, Goodwin Lead Cold Storage Giant's IPO Filing

    Real estate investment trust Lineage Inc., a large owner of cold-storage warehouses, filed plans on Wednesday for an initial public offering, represented by Latham & Watkins LLP and underwriters counsel Goodwin Procter LLP.

  • June 26, 2024

    Akerman Adds Foley Hoag Corporate Atty In DC

    Akerman hired a competition counsel from Foley Hoag LLP in Washington who spent the past four and half years representing clients in a range of antitrust matters.

  • June 26, 2024

    $10B AIR-Blackstone Deal Set To Close After Investor Nod

    Denver-based Apartment Income REIT Corp.'s shareholders have approved an agreement to sell off the real estate investment trust to private equity giant Blackstone for $10 billion, paving the way for its close within the next several days.

  • June 26, 2024

    Warburg Pincus Plugs $350M Into Data Connectivity Co.

    Data connectivity solutions company CData Software on Wednesday announced that it secured a roughly $350 million growth capital investment led by private equity giant Warburg Pincus in a deal built by three firms.

  • June 26, 2024

    A Picture Of Office Sector Distress

    This five-part series from Law360 Real Estate Authority explores distressed office buildings in Chicago, San Francisco, Miami, Dallas and New York City in an illustration of how the stressors facing the asset class are playing out across the country.

  • June 26, 2024

    MNC Capital Makes 'Final' $3.2B Offer For Vista Outdoor

    MNC Capital Partners LP said Wednesday it has bumped up its all-cash offer to buy Vista Outdoor Inc. to $42 per share, or about $3.2 billion, in its final bid to scoop up the sporting goods maker.

  • June 25, 2024

    Tuna Buyers Settle $1B Price-Fixing Claims Before July Trial

    Tuna buyers seeking $1 billion in damages over allegations that StarKist, its parent company and a private investment firm that put money into Bumble Bee Foods conspired to hike the price of the tinned fish have reached settlements just ahead of trial, according to a California federal judge's order Tuesday.

  • June 25, 2024

    Adviser, Firm Owe SEC $425K For Mishandling Crypto Assets

    A Florida federal judge on Tuesday approved approximately $425,000 in settlements in a suit by the U.S. Securities and Exchange Commission against an investment adviser and its owner, alleging they hid investment strategies and lost control of the firm's recordkeeping, preventing them from accessing crypto assets possibly worth $10 million.

  • June 25, 2024

    Chancery Tentatively OKs $15.5M Lordstown SPAC Suit Deal

    A $15.5 million class settlement for a stockholder suit that challenged the special-purpose acquisition company deal that took Lordstown Motors Inc. public won tentative Delaware Court of Chancery approval Tuesday, conditioned on confirmation of one expense claim.

Expert Analysis

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • Opinion

    Post-Moelis Del. Corp. Law Proposal Would Hurt Stockholders

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    The proposed Delaware General Corporation Law amendment in response to the Court of Chancery's recent opinion in West Palm Beach Firefighters' Pension Fund v. Moelis would upend the foundational principle of corporate law holding that directors govern corporations in the interest of stockholders — and the potential harm would be substantial, say attorneys at Block & Leviton.

  • Management Incentives May Be Revisited After PE Investment

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    As the economic climate shifts, key parties in private equity investment transactions may become misaligned, and management incentive plans could become ineffective — so attentive boards may wish to caucus with management to evaluate continued alignment, say Austin Lilling and Nida Javaid at Morgan Lewis.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • The Merger Cases That Will Matter At ABA Antitrust Meeting

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    While the American Bar Association's Antitrust Spring Meeting this week will cover all types of competition law issues in the U.S. and abroad, expect the federal agencies' recent track record in merger enforcement to be a key area of focus on the official panels and in cocktail party chatter, say attorneys at Freshfields.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Private Capital Considerations Amid Market Revival

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    As improved market conditions position traditional financing to regain lost market share, it's also worth considering the pace and structure of private credit and other forms of private capital, especially when seeking to set unique terms or build new corporate relationships, say attorneys at Skadden.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • A Look At Recent Challenges To SEC's Settlement 'Gag Rule'

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    Though they have been unsuccessful so far, opponents of the U.S. Securities and Exchange Commission's so-called gag rule, which prevents defendants from denying allegations when settling with the SEC, are becoming increasingly vocal and filing more challenges in recent years, say Mike Blankenship and Regina Maze at Winston & Strawn.

  • Flexibility Is Key In Hybrid Capital Investment Strategies

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    Flexible or hybrid capital funds have become a solution for some owners adverse to private debt or requiring short-term capital support not otherwise available in the market, but the complexity and possible range of structures available means that principals need to consider how they may work in different scenarios and outcomes, says Daniel Mathias at Cohen Gresser.

  • Planning For Healthcare-Private Equity Antitrust Enforcement

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    U.S. antitrust agency developments could mean potential enforcement actions on healthcare-related acquisitions by private equity funds are on the way, and entities operating in this space should follow a series of practice tips, including early assessment of antitrust risks on both the state and federal level, say Ryan Quillian and John Kendrick at Covington.

  • Series

    Serving As A Sheriff's Deputy Made Me A Better Lawyer

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    Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

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    Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.

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