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Private Equity
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November 11, 2024
AI-Focused Semiconductor Maker Puts SPAC Deal On Hold
Sivers Semiconductors AB said Monday that it has paused the proposed merger of its laser semiconductor subsidiary with special purpose acquisition company byNordic Acquisition Corp., because of the market conditions for small cap companies in the U.S.
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November 08, 2024
French Generative AI Startup Seeks Landmark IPO In Paris
French artificial intelligence company LightOn launched plans Friday for an estimated €10.4 million ($11.2 million) initial public offering, paving the way for Europe's first listing of a generative AI business that is scheduled to debut later this month.
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November 08, 2024
Kustom Entertainment's $222M SPAC Merger Goes Kaput
Blank-check company Clover Leaf Capital is terminating its planned merger with live entertainment organizer Kustom Entertainment Inc., according to a Friday announcement.
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November 08, 2024
Experienced Dealmakers Lead 3 SPACs Raising $365M Total
Three special purpose acquisition companies began trading Friday after pricing initial public offerings that raised $365 million combined under guidance from four law firms, marking the latest sign that more SPACs, particularly those with prior deals under their belts, are willing to test an improving market.
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November 08, 2024
General Atlantic, Stripes Plug $825M Into Vuori Clothing Biz
Lifestyle performance brand Vuori on Friday revealed that it has secured an $825 million investment led by growth investors General Atlantic, advised by Paul Weiss Rifkind Wharton & Garrison LLP, and Weil Gotshal & Manges LLP-advised Stripes, bumping the brand's valuation to $5.5 billion.
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November 08, 2024
Katten Adds Private Credit Partner From Weil In NY
Katten Muchin Rosenman LLP has added a former Weil Gotshal & Manges LLP banking and finance counsel, who joined the team in New York as a private credit partner.
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November 08, 2024
Apollo Gets Extension To Make £1B Offer For Auto-Parts Biz
Auto parts supplier TI Fluid Systems said Friday that Britain's mergers and acquisitions authority has granted a company backed by private equity giant Apollo more time to make it a firm offer worth approximately £995 million ($1.3 billion).
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November 07, 2024
JPMorgan Sues Adviser Who Jumped To Morgan Stanley
The broker-dealer arm of JPMorgan has accused a former Michigan-based employee of using its confidential information to lure its customers at her new job at Morgan Stanley's wealth management unit, including a half a dozen clients with nearly $12 million in combined assets who have already jumped ship from JPMorgan.
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November 07, 2024
Investors Accuse Truth Social SPAC's Ex-CEO Of Stock Theft
The former CEO of the special purpose acquisition company that combined with Donald Trump's Truth Social company has been accused of stealing millions of SPAC shares by funneling them to offshore shell entities and misappropriating investments to fund his "lavish" Miami lifestyle.
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November 07, 2024
LeBron Eyes Media Merger, AI Startup IPO, And More Rumors
Basketball star LeBron James wants to merge his TV and film production company with a British studio, while AI-focused startup CoreWeave has selected investment banks to manage an initial public offering planned for 2025, plus a women's clothing retailer and a generic-drug maker are planning a pair of listings that could revive Canada's dormant IPO market.
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November 07, 2024
Lynk Global Taps New Execs Amid Deal With A-Rod's SPAC
Lynk Global Inc., the satellite-to-phone business merging with the blank-check company of former New York Yankees star Alex Rodriguez, on Thursday revealed that it has picked a new CEO and CFO while securing capital investments from shareholders.
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November 07, 2024
CMA Raises Concerns Over Amex GBT's $570M Buy Of Rival
The proposed $570 million acquisition by American Express Global Business Travel Inc., a corporate travel management company, of rival CWT Holdings LLC in the U.K. could "lead to reduced choice and quality" in Britain, the antitrust watchdog has warned.
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November 06, 2024
Trump's SEC Expected To See 'Dramatic' Enforcement Change
Former President Donald Trump's reelection means a notable shift in the types of cases the U.S. Securities and Exchange Commission is expected to bring, attorneys said Wednesday at a Washington, D.C., conference, while the agency's current top enforcer vowed business as usual for now as it carries on with its well over 1,500 investigations.
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November 06, 2024
Trump's Win Likely To Spur Deals For Capital Markets Attys
Former President Donald Trump's decisive win in Tuesday's presidential election will enable deals to proceed on a more certain basis, capital markets advisers said Wednesday, citing pent-up demand to restart capital raising after a long period of subdued activity.
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November 06, 2024
10th Circ. Backs Asset Freeze In Forex Exec's Latest Bid
A foreign exchange asset manager lost his bid to overturn a lower court's decision that froze his assets and ordered him to pay $510,000 in legal bills in a dispute with the U.S. Securities and Exchange Commission, with a panel of the 10th Circuit finding it does not have jurisdiction to reverse the ruling.
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November 06, 2024
5 Firms Guide $4.6B Cencora-Retina Consultants Deal
Freshfields, Sidley Austin LLP and Morgan Lewis & Bockius LLP are guiding Cencora Inc. on an agreement to acquire Retina Consultants of America from Webster Equity Partners for $4.6 billion in cash, Cencora said Wednesday.
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November 06, 2024
McGuireWoods-Led Teledyne Pays $710M For Defense Assets
Led by McGuireWoods LLP, Teledyne Technologies Inc. said Wednesday it will buy certain aerospace and defense electronics businesses from Excelitas Technologies Corp., guided by Fried Frank Harris Shriver & Jacobson LLP, for $710 million in cash.
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November 06, 2024
Kirkland Investment Funds Partner Joins Alston & Bird In NY
Alston & Bird LLP announced that a Kirkland & Ellis LLP investment funds attorney has joined the firm's New York office as a partner, which it said helps enhance its capabilities in areas such as fund formation and operational support.
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November 06, 2024
Nano Dimension Targeted By Activist Investor Murchinson
Nano Dimension shareholder Murchinson Ltd. has nominated two independent candidates to stand for election to the Israeli 3D printing company's board while slamming the current board for its inability to hold CEO Yoav Stern accountable, saying that it's time to address the company's "persistent undervaluation, improve its allocation of capital and fix a broken boardroom culture."
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November 06, 2024
Simpson, Clifford Chance Build $4B Blackstone Deal For REIT
Blackstone announced Wednesday it will pay $4 billion to acquire grocery store-focused real estate investment trust Retail Opportunities Investment Corp., in a deal built by respective legal advisers Simpson Thacher & Bartlett LLP and Clifford Chance US LLP.
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November 05, 2024
What Trump's Return Means For Bank Regulation: 5 Questions
With former President Donald Trump now projected to return to the White House, financial services attorneys are predicting the banking industry will see a sharp rightward turn at the Consumer Financial Protection Bureau and a much softer touch elsewhere in the federal regulatory arena.
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November 05, 2024
Trump's Win Expected To Pare Back Gensler's SEC Agenda
The reelection of President Donald Trump will bring with it many big changes to the U.S. Securities and Exchange Commission, including a new chair who could set a more crypto- and business-friendly policy that would translate into a downtick in rulemaking and enforcement cases in comparison to outgoing President Joe Biden.
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November 05, 2024
Trump Has Official Immunity. What About His Aides?
Whether the U.S. Supreme Court's decision on presidential immunity extends to subordinates who follow a president's orders has become a more pressing question in the wake of Donald Trump's projected election win, according to legal experts.
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November 05, 2024
How Trump Can Quash His Criminal Cases
Donald Trump's projected victory at the polls also translates to a win in the courts, as the second-term president will have the power to end both of his federal criminal cases. And the U.S. Supreme Court's decision on presidential immunity would shield him from any consequences for ordering his charges to be dismissed, experts say.
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November 05, 2024
An Early Look At Trump's Supreme Court Shortlist
With former President Donald Trump projected to win the 2024 presidential election and the Republicans' success in securing the U.S. Senate majority, Trump may now get the chance to appoint two more justices to the U.S. Supreme Court, cementing the court's conservative tilt for decades to come.
Expert Analysis
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How Companies Are Approaching Insider Trading Policies
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.
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How Methods Are Evolving In Textualist Interpretations
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.
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Navigating New Enforcement Scrutiny Of 'AI Washing'
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.
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Increased Scrutiny Raises Int'l Real Estate Transaction Risks
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.
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How Fund Advisers Can Limit Election Year Pay-To-Play Risks
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.
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FTC Focus: What Access To Patent Settlements Would Mean
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.
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Why Attorneys Should Consider Community Leadership Roles
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.
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9 Liability Management Tips As Debt Maturity Cliff Looms
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.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
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.
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5 Tips To Succeed In A Master Of Laws Program And Beyond
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.
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Series
Being An Opera Singer Made Me A Better Lawyer
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.
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How Law Firms Can Avoid 'Collaboration Drag'
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.
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Opinion
Litigation Funding Disclosure Key To Open, Impartial Process
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.
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What NFL Draft Picks Have In Common With Lateral Law Hires
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.
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Replacing The Stigma Of Menopause With Law Firm Support
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.