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Private Equity
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October 22, 2024
Activist Short Seller's Associate To Pay $1.8M In SEC Fraud Suit
The U.S. Securities and Exchange Commission announced Tuesday that an associate of Andrew Left, founder of popular trading advice website Citron Research, has agreed to pay more than $1.8 million to resolve allegations that he negligently took part in a scheme to defraud readers through two trading recommendations.
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October 22, 2024
Legatum Exec Wins $8M Libel Trial Against D.C. Investigator
A D.C. federal jury has awarded the founder of Dubai-based investment company Legatum more than $8 million in his defamation case against a private investigator accused of preparing and disseminating a bogus "background report" falsely stating the executive was a Russian asset.
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October 22, 2024
Hertz Board Panel Takes Control Of Shareholder Buyback Suit
Delaware's chancellor has granted a Hertz Global Holdings Inc. board special committee's request to investigate stockholder-filed derivative claims challenging the fairness of $4 billion in stock buybacks in 2022 that vaulted a private equity-based shareholder into a controlling position, in a ruling that also sidelined related direct damage claims.
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October 22, 2024
Morgan Stanley Investment Management Clinches $2B Fund
Morgan Stanley Investment Management, advised by Simpson Thacher & Bartlett LLP, on Tuesday announced that it wrapped its second tactical value fund and affiliated funds after securing roughly $2 billion of committed capital.
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October 22, 2024
Day Trader Seeks Early Win In Verifone Insider Trading Suit
A day trader moved for an early win in a U.S. Securities and Exchange Commission insider trading case alleging the trader was tipped off by a former Francisco Partners consultant about the firm's $3.4 billion purchase of Verifone Systems Inc., arguing there is no evidence that he knew he received material nonpublic information, let alone traded on it.
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October 22, 2024
Blakes, Wachtell Lead JM Smucker In $305M Cookie Biz Sale
American food manufacturing giant The J.M. Smucker Co., advised by Blake Cassels & Graydon LLP and Wachtell Lipton Rosen & Katz, on Tuesday announced that it has agreed to sell its Voortman cookie brand to private equity-backed Second Nature Brands in a $305 million cash deal.
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October 22, 2024
Latham Leads Hyundai's Indian Biz On Record $3.3B IPO
Hyundai Motor India Ltd. dipped in debut trading Tuesday after it raised India's largest ever initial public offering at $3.3 billion, represented by Latham & Watkins LLP and Shardul Amarchand Mangaldas & Co., marking a key milestone in the Korean automaker's overseas expansion.
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October 22, 2024
How Law Firms Get And Keep Elite Status
For decades, a handful of New York-based law firms thoroughly dominated the national consciousness when it came to power, profitability and prestige. But in today's legal market, increased movement of partners and clients from one firm to the next has begun to shake things up and create opportunities for go-getters to ascend the ranks.
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October 22, 2024
The 2024 Prestige Leaders
Check out our Prestige Leaders ranking, analysis and interactive graphics to see which firms stand out for their financial performance, attractiveness to attorneys and law students, ability to secure accolades and positive legal news media representation.
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October 22, 2024
Akin-Led Mubadala Capital Wraps 4th Fund At $3.1B
Abu Dhabi-based Mubadala Capital, advised by Akin Gump Strauss Hauer & Feld LLP, on Tuesday revealed that it clinched its fourth private equity fund after securing $3.1 billion of commitments from investors.
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October 22, 2024
Real Estate Exec Guilty Of $77M WeWork Stock Fraud
A Manhattan federal jury on Tuesday convicted the former CEO of real estate investment firm Arciterra for trying to manipulate the price of WeWork stock via a $77 million tender offer on the cusp of the office-sharing company's bankruptcy filing in late 2023.
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October 22, 2024
Kirkland Guides Wendel's $1.13B Bid For Monroe Capital Stake
French investor Wendel Group said Tuesday that it will take an initial 75% stake in U.S. asset manager Monroe Capital LLC for $1.13 billion to expand its private credit services as demand surges.
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October 21, 2024
$77M WeWork Bid Was Fraud 'From Beginning To End,' Jury Told
New York federal prosecutors made their final pitch on Monday to jurors weighing the fate of the former CEO of real estate investment firm Arciterra accused of manipulating the market through a bogus $77 million tender offer to take control of WeWork, saying it was a sophisticated fraud and not a real play for control of the company.
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October 21, 2024
AI Software Developer Genesys Confidentially Files IPO
Artificial intelligence-based software developer Genesys Cloud Services Inc. said Monday it has confidentially filed plans for an initial public offering with the U.S. Securities and Exchange Commission, joining other AI-linked prospects preparing for IPOs.
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October 21, 2024
V&E Helps EnCap Amass $5.25B For Latest Energy Fund
Houston, Texas-based EnCap Investments LP, advised by Vinson & Elkins LLP, on Monday announced that it wrapped its 12th energy-focused fund after securing $5.25 billion from investors.
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October 21, 2024
Goodwin Steers Biotech Firm Septerna's Plans For $175M IPO
Biotechnology firm Septerna Inc. on Monday launched plans for an estimated $175 million initial public offering, joining a hot market for drug developers of late, under guidance from Goodwin Procter LLP and underwriters' counsel Cooley LLP.
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October 21, 2024
Clifford Chance Continues NY Growth With O'Melveny Duo
Clifford Chance LLP is continuing its growth in New York, announcing on Monday the hiring of two former O'Melveny & Myers LLP attorneys to its private equity practice, as well as the firm's restructuring and insolvency group.
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October 21, 2024
Potbelly Investor Urges Sandwich Chain To Explore A Sale
An investor in sandwich chain Potbelly Corp. on Monday called for the company to take immediate action to maximize shareholder value, including exploring a potential sale of the quick-service restaurant business, which it called an "underappreciated growth story."
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October 21, 2024
Kirkland, Paul Weiss Build $859M Cybersecurity Biz Merger
Cybersecurity solutions companies Sophos, advised by Kirkland & Ellis LLP, and Secureworks, led by Paul Weiss Rifkind Wharton & Garrison LLP, on Monday announced plans to merge in an all-cash deal valued at roughly $859 million.
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October 21, 2024
Debevoise-Led EQT Pool To Buy $14.5B Private School Biz
Swedish investment giant EQT AB said Monday that it has formed a new consortium to acquire international school operator Nord Anglia Education for $14.5 billion in a deal guided by Latham & Watkins LLP, Debevoise & Plimpton LLP and Ropes & Gray LLP.
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October 21, 2024
Sanofi Sells Majority Stake In Opella To CD&R, French State
Pharmaceutical giant Sanofi SA said Monday that it will sell a controlling stake in Opella to U.S. private equity shop Clayton Dubilier & Rice LLC and France's public investment bank, in a deal valuing its consumer healthcare business at €16 billion ($17 billion).
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October 18, 2024
Law360 MVP Awards Go To Top Attys From 74 Firms
The attorneys chosen as Law360's 2024 MVPs have distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking deals.
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October 18, 2024
Hong Kong Regulators Unveil Plans To Quicken IPOs
Hong Kong regulators and stock exchange officials announced a plan on Friday to accelerate their time frames for reviewing initial public offerings, a bid to improve the region's attractiveness for new listings amid intense global competition.
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October 18, 2024
Hogan Lovells Guides Buyer On San Diego Soccer Team Deal
National Women's Soccer League team the San Diego Wave Fútbol Club has assumed new ownership after Hogan Lovells-advised private equity firm Levine Leichtman Family Office bought the team from previous owner Ron Burkle, advised by Loeb & Loeb LLP, marking the latest in a string of NWSL deals this year.
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October 18, 2024
6 Firms Guide $1.1B Turkish-Kazakh E-Commerce Deal
Six law firms across three countries have guided a transaction announced Friday that will see Kaspi.kz, which runs a popular payments app in Kazakhstan, purchase a majority stake in Turkish e-commerce platform Hepsiburada for more than $1.1 billion in cash.
Expert Analysis
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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.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Tips For Revamping Patent Portfolio Strategy In AI Deal Era
Recent data suggests patents are significantly enhancing exit valuations, particularly with cutting-edge technologies like those powered by artificial intelligence, but it is necessary to do more than simply align patent strategy with business goals, says Keegan Caldwell at Caldwell Law.
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Opinion
The Big Issues A BigLaw Associates' Union Could Address
A BigLaw associates’ union could address a number of issues that have the potential to meaningfully improve working conditions, diversity and attorney well-being — from restructured billable hour requirements to origination credit allocation, return-to-office mandates and more, says Tara Rhoades at The Sanity Plea.
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Opinion
It's Time For A BigLaw Associates' Union
As BigLaw faces a steady stream of criticism about its employment policies and practices, an associates union could effect real change — and it could start with law students organizing around opposition to recent recruiting trends, says Tara Rhoades at The Sanity Plea.
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How Justices Upended The Administrative Procedure Act
In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.
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Jarkesy May Thwart Consumer Agencies' Civil Penalty Power
The U.S. Supreme Court's ruling in U.S. Securities and Exchange Commission v. Jarkesy not only implicates future SEC administrative adjudications, but those of other agencies that operate similarly — and may stymie regulators' efforts to levy civil monetary penalties in a range of consumer protection enforcement actions, say attorneys at Holland & Knight.
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Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?
A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.
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Why The SEC Is Targeting Short-And-Distort Schemes
The U.S. Securities and Exchange Commission's recent crackdown on the illegal practice of short-and-distort trades highlights the urgent need for public companies to adopt proactive measures, including pursuing private rights of action, say attorneys at Baker McKenzie.
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Series
Playing Dungeons & Dragons Makes Me A Better Lawyer
Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.
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3 Leadership Practices For A More Supportive Firm Culture
Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.
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E-Discovery Quarterly: Rulings On Hyperlinked Documents
Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.