Private Equity

  • September 27, 2024

    Off The Bench: College Sports Dominates Legal Landscape

    In this week's Off The Bench, the NCAA and the athletes in the big name, image and likeness settlement try to redo the terms to satisfy the overseeing judge, Reggie Bush says his image has been exploited by his alma mater and the NCAA for years, and the Pac-12 claims that it's being strong-armed by a rival conference for coaxing away its teams.

  • September 27, 2024

    Alvarez & Marsal Tax Appoints Former Weil Official

    Alvarez & Marsal's tax affiliate announced it has appointed a former Weil Gotshal & Manges LLP executive as a senior official for the firm's compensation and benefits practice.

  • September 27, 2024

    Life Sciences Firms Energize IPO Market As Recovery Builds

    Initial public offerings are closing the year's third quarter on an upswing, led mostly by pre-revenue drug developers and select large companies that are seizing opportunities in friendlier capital markets buoyed by interest-rate cuts, generating momentum that experts say could carry over into next year.

  • September 27, 2024

    Polsinelli Adds Debt Finance Shareholder In Denver

    Polsinelli PC has boosted its transaction services in Denver with the addition of an attorney specializing in private credit who moved his practice after two years with Michael Best & Friedrich LLP.

  • September 27, 2024

    Chicago Tribune Journalists Say Pay Bias Suit Can Continue

    Chicago Tribune journalists told an Illinois federal court that they supported their claims that the paper and its parent Alden Global Capital paid them less because of their sex and race, urging the court to not engage in a motion to dismiss.

  • September 27, 2024

    Ault Disruptive To Dissolve After Failing To Ink SPAC Deal

    Blank check company Ault Disruptive Technologies Corp. said on Friday that it plans to dissolve and liquidate because it will not be able to complete an initial business combination before Dec. 20.

  • September 27, 2024

    Ill. Justices Won't Hear Baker McKenzie's London Transfer Bid

    Illinois' top court has declined to take on a petition from Chicago-based Baker McKenzie urging the justices to send to London a malpractice suit accusing the firm of botching a client's bid to reacquire a Russian coal mine.

  • September 27, 2024

    Taxation With Representation: Kirkland, Skadden, Cleary

    In this week's Taxation With Representation, Blackstone and Vista Equity Partners acquire Smartsheet Inc., Macquarie Asset Management takes a stake in D.E. Shaw Renewables Investment Group, and Apogee Enterprises Inc. buys UW Interco LLC from Heartwood Partners.

  • September 27, 2024

    Fried Frank-Led StepStone Clinches $7.4B Secondaries Fund

    Private equity shop StepStone Group Inc., advised by Fried Frank Harris Shriver & Jacobson LLP, on Friday announced that it clinched its fifth secondaries opportunities fund and separate related accounts with around $7.4 billion of total investor commitments.

  • September 26, 2024

    SEC Accuses NC Business Owner Of $28M Ponzi-Like Fraud

    The U.S. Securities and Exchange Commission has filed a suit in North Carolina federal court accusing an investment firm owner of defrauding investors through a $28 million Ponzi-like manufacturing debt investment scheme.

  • September 26, 2024

    Obesity Drug Developer Leads 2 Upsized IPOs Totaling $310M

    Obesity-focused drug developer BioAge Labs Inc. gained in debut trading Thursday after raising $198 million through an upsized initial public offering, leading one of two new listings that netted a combined $310 million under the guidance of four law firms.

  • September 26, 2024

    VivoPower Keeps HQ In UK To Qualify For $21B Gov't Program

    Sustainable energy solutions company VivoPower International PLC and hydrogen technology business Future Automotive Solutions and Technologies on Thursday outlined additional terms to their proposed $1.13 billion merger, including settling the combined company's headquarters in the U.K. in order to qualify for potential "significant and attractive" government incentives.

  • September 26, 2024

    Investor Ordered To Deposit $336K In Pot Co. Contract Suit

    A Nevada magistrate judge has ordered Capital Pure Assets Ltd. to deposit $336,000 with the court as part of a dispute with a cannabis payment company's subsidiary over a failed business venture, finding the subsidiary is likely to succeed on its claims that CPA tricked it into putting that amount into an escrow fund.

  • September 26, 2024

    Qualcomm Eyes Massive Buyout Of Intel, Plus Other Rumors

    Qualcomm has approached struggling rival Intel with a takeover offer, Chevron's $53 billion acquisition proposal for Hess is expected to win regulatory clearance, and private Equity Firm BC Partners wants to buy a minority stake in EuroLeague. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • September 26, 2024

    Southwest Airlines Touts Big Changes Amid Activist Pressure

    Southwest Airlines on Thursday revealed a number of developments key to a "transformational" plan meant to drive revenue growth as the airline faces pressure from activist investor Elliott Investment Management, including the appointment of a new director and a $2.5 billion repurchase program.

  • September 26, 2024

    3 Firms Rep As Citi, Apollo Form $25B Private Credit Program

    Banking giant Citigroup and asset management firm Apollo on Thursday unveiled plans to launch a "landmark" $25 billion private credit direct lending program in North America, entering into an exclusive agreement that was guided by three law firms.

  • September 25, 2024

    In-House Counsel To Play Central Role At AI Cos., VCs Say

    Venture capital firms expect in-house counsel at artificial intelligence companies to play a bigger role in their businesses due to regulatory uncertainties around AI, while a professor who helped pioneer the technology warned that transparency of commercial AI businesses should be "top of mind," attorneys heard at the seventh annual Berkeley Law AI Institute Wednesday.

  • September 25, 2024

    Barry Manilow Sued By Hipgnosis Over Sony Royalties

    Music rights heavyweight Hipgnosis has sued Barry Manilow in London for allegedly failing to pay it royalties after Sony Records paid the American singer for his recordings, violating a more than $7.5 million deal that saw Hipgnosis acquire his catalog of 917 songs.

  • September 25, 2024

    UpHealth Wins Most Of $115M Award In Glocal Merger Dispute

    Bankrupt digital health services company UpHealth can enforce a large part of a $115 million arbitral award against the Indian healthcare services platform Glocal in their feud over an ill-fated merger, an Illinois federal judge has ruled.

  • September 25, 2024

    IP Protection Firm's $426M SPAC Merger Is Scrapped

    Intellectual property management firm Zacco Holdings, formerly known as OpSec Group, and blank check company Investcorp Europe Acquisition Corp. I on Wednesday announced that they will be terminating their merger plans.

  • September 25, 2024

    E-Bike Maker Argues In Del. Supreme Court To Salvage Sale

    An attorney for a private equity affiliate that beat a Barcelona-based electric scooter rental chain's attempt to force a closing on the scooter company's $100 million sale in Chancery Court told Delaware's Supreme Court Wednesday that the seller's current appeal ignores its own fatal contract breaches.

  • September 25, 2024

    Cannabis Co., Investor Must Take Contract Suit Back To Court

    A Washington appeals panel has reversed a summary judgment in favor of an investor who alleged that a cannabis grower and seller breached an agreement to buy out his stock following a dispute, saying that while the contract is enforceable, there remain questions about whether that contract was breached.

  • September 25, 2024

    Cancer Detection Biz To Go Public Via $694M SPAC Merger

    Special purpose acquisition company Breeze Holdings Acquisition Corp. on Wednesday announced that it has agreed to merge with and take public clinical-stage biopharmaceutical company YD Biopharma Ltd. in a deal that gives the combined company an estimated enterprise value of $694 million and was built by three firms.

  • September 25, 2024

    NYSE Cancels Proposal To Extend SPAC Merger Deadlines

    The New York Stock Exchange has pulled a proposal that would have provided special purpose acquisition companies with more time to complete mergers while remaining listed, several months after it sought regulatory approval for the extension.

  • September 25, 2024

    Cleary-Led Apogee Buys UW Solutions In $240M Cash Deal

    Cleary Gottlieb Steen & Hamilton LLP-led Apogee Enterprises Inc. on Wednesday announced plans to buy high-performance coated substrates maker UW Interco LLC from private equity shop Heartwood Partners, both advised by Finn Dixon & Herling LLP, for $240 million in cash.

Expert Analysis

  • How Companies Are Approaching Insider Trading Policies

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    An analysis of insider trading policies recently disclosed by 49 S&P 500 companies under a new U.S. Securities and Exchange Commission rule reveals that while specific provisions vary from company to company, certain common themes are emerging, say attorneys at Gibson Dunn.

  • How Methods Are Evolving In Textualist Interpretations

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    Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.

  • Navigating New Enforcement Scrutiny Of 'AI Washing'

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    The U.S. Securities and Exchange Commission's recent lawsuit against Joonko Diversity, its first public AI-focused enforcement action against a private company, underscores the importance of applying the same internal legal and compliance rigor to AI-related claims as other market-facing statements, say attorneys at Fried Frank.

  • Increased Scrutiny Raises Int'l Real Estate Transaction Risks

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    Recently proposed regulations expanding the Committee on Foreign Investment in the United States' oversight, a White House divestment order and state-level legislative efforts signal increasing scrutiny of real estate transactions that may trigger national security concerns, say Luciano Racco and Aleksis Fernández Caballero at Foley Hoag.

  • 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.

  • FTC Focus: What Access To Patent Settlements Would Mean

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    Settling parties should adopt a series of practice tips, including specifying rationales to support specific terms, as the Federal Trade Commission seeks to expand its access to settlements before the Patent Trial and Appeal Board, say Shannon McGowan and David Munkittrick at Proskauer.

  • 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 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

    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.

  • 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.

  • 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.

  • What NFL Draft Picks Have In Common With Lateral Law Hires

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    Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.

  • Replacing The Stigma Of Menopause With Law Firm Support

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    A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.

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