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Private Equity
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January 03, 2025
Food Delivery App Inks $80M Deal To End SPAC Merger Suit
Investors suing mobile food delivery and ride-hailing services operator Grab Holdings Ltd. have asked a New York federal judge to preliminarily approve an $80 million deal to settle claims that several sections of a proxy statement Grab filed with a special purpose acquisition company were false and misleading.
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January 03, 2025
Missed Deadline Bars Startup Investors' Conspiracy Claims
A three-year statute of limitations — missed by a little more than a month — dooms civil conspiracy claims in a lawsuit alleging that partners in a venture capital firm created "sham" independent contractor agreements with a firm controlled by one of its partners to charge "massive and inexplicable" fees, a Massachusetts judge has ruled.
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January 03, 2025
DE Shaw Rips Air Products' CEO Succession Plan Failure
Activist investment firm The D.E. Shaw Group on Friday slammed the board of directors of industrial gas supplier Air Products and Chemicals Inc., accusing it of failing to manage an effective CEO succession process, and called for a change in the board's composition and the retirement of the company's current CEO.
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January 03, 2025
Influencer Marketing Biz Later Buys Mavely In $250M Deal
Influencer marketing and social media management software services company Later on Friday announced plans to buy everyday influencer platform Mavely in a $250 million deal.
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January 03, 2025
PE Firm Permira To Buy Stake In Energy Adviser Westbridge
British investment company Permira Funds has agreed to acquire a majority stake in Westbridge Advisory, a European energy and sustainability consultancy for the real estate industry.
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January 02, 2025
A-Rod's SPAC Deal Seeks Extra Innings, Plus More IPOs Filed
The period between Christmas Eve and Jan. 1 wasn't completely quiet on the capital markets deals front, with A-Rod's special purpose acquisition company seeking an extension to complete its merger and several new IPOs being filed. Here, Law360 looks at the capital markets news from the holiday break.
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January 02, 2025
Interactive Brokers Fined $2.2M Over 'Free-Riding' Monitoring
Interactive Brokers LLC has agreed to pay $2.25 million to settle allegations from the Financial Industry Regulatory Authority that the firm failed to detect millions of so-called free-riding transactions in customers' cash accounts.
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January 02, 2025
Del. Courts Gavel Out 2024 With Fox, Opioid Case Rulings
2024 went out with a flurry of rulings in Delaware's corporate and commercial law courts, while the new year saw a Chancery veteran become that court's first senior magistrate. Here's a quick roundup of the latest news in First State courts.
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January 02, 2025
4 Firms Build CA$169M Take-Private Of Quisitive Technology
Microsoft cloud and artificial intelligence solutions provider Quisitive Technology Solutions Inc. on Thursday announced that it has agreed to go private and be bought by private equity shop H.I.G. Capital in a CA$169.1 million ($117.1 million) deal built by four law firms.
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January 02, 2025
Food Service Tech Biz Buys PE-Owned Delaget In $132M Deal
Food service technology company Par Technology Corp. on Thursday announced plans to acquire restaurant analytics business Delaget LLC in a $132 million deal.
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January 01, 2025
High-Stakes Healthcare Court Battles To Watch In 2025
With pivotal health law cases on the docket in 2025, attorneys will be watching how the incoming Trump administration proceeds in ongoing litigation over abortion care, the Affordable Care Act and the Medicare drug price negotiation program.
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January 01, 2025
5 Energy Transactional Trends To Watch In 2025
A second Donald Trump presidency and a resulting shift in federal policy away from clean energy and toward fossil fuels will cloud the dealmaking environment for the energy industry, but attorneys believe the deal pace will remain brisk across the sector. Here are five transactional trends that are worth watching closely this year.
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January 01, 2025
Trump 2.0 Signals Shift Toward Capital Markets Deregulation
The arrival of a second Trump administration promising a business-friendly agenda, along with Republican majorities governing Congress and the U.S. Securities and Exchange Commission, signals a decisive shift toward deregulation that observers expect will broadly impact capital markets in 2025 and beyond.
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January 01, 2025
IPO Outlook Brightens As More Companies Eye 2025 Listings
Capital markets attorneys are preparing to advise more companies toward initial public offerings in 2025, given evidence that a rising number of candidates are joining the pipeline in expectation of a long-awaited resurgence in new listings. Here, Law360 looks at what deals attorneys and market participants expect.
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January 01, 2025
What 2024's Top PE Funds Say About Industry Right Now
The largest private equity fund closings in 2024 highlight continued consolidation in the private equity space, leaving industry attorneys hopeful for an active 2025. The overall PE industry saw a surge in secondary transactions and funds during the year, while slowing distributions posed some fundraising challenges.
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January 01, 2025
M&A Attys Bullish About 2025 Despite Global Tensions
Industry attorneys are optimistic about mergers and acquisitions moving into 2025 following a year with plenty of megadeals, modest upticks in deal values and volumes, interest rate cuts, and a Donald Trump reelection that is expected to bring pro-business policies and a reduction in regulatory red tape.
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January 01, 2025
Connecticut Cases To Watch In 2025: Ethics, Mergers & Actors
A suit over McCarter & English LLP's municipal loan advice and a Yale-owned heath network's legal battle over a beleaguered acquisition deal are just two multimillion-dollar cases that will keep Connecticut courts busy next year.
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December 23, 2024
Ex-Pharma Exec Charged With $38M Insider Trading Scheme
A former chief science officer of pharmaceutical company Humanigen faces charges in New Jersey federal court that he dumped shares of the company before it publicly announced its potential COVID-19 drug did not receive federal approval, according to an indictment unsealed Monday.
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December 23, 2024
7 Firms Build Nordstrom's $6.25B Go-Private Deal
Members of the Nordstrom family, including CEO Erik Nordstrom, and Mexican omnichannel retailer and shareholder El Puerto de Liverpool on Monday unveiled plans to take Nordstrom Inc. private in a $6.25 billion all-cash deal that was built by seven law firms.
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December 20, 2024
SEC's Dealer Rule Loss Is A Lesson To Regulators, Atty Says
A Sullivan & Cromwell LLP attorney who successfully litigated a crypto industry challenge to vacate a U.S. Securities and Exchange Commission rule expanding the definition of dealer said the Texas federal judge's decision is another block in the recent chain of court decisions warning federal agencies to refrain from stretching old statutory terms to reach new contexts that aren't clearly within their authority.
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December 20, 2024
Nike, Converse Blast Co.'s Trade Secret Case Ahead Of Trial
Ahead of a trial in February in Oregon federal court, Nike Inc. and Converse Inc. on Thursday blasted trade secret theft allegations involving an anti-counterfeiting system from Valmarc Corp., saying that Valmarc failed to protect its claimed secrets, that the technology at issue has been around for years and that the company's complaint is time-barred.
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December 20, 2024
The Top Cases Of 2024 In Texas: Year In Review
Texas closed out the year with blockbuster rulings on social media companies’ use of biometric data and the U.S. Securities and Exchange Commission’s expanded definition of a dealer. Here are the biggest decisions out of Texas that topped Law360’s radar this year.
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December 20, 2024
SEC Sues Silver Point Over Atty's Receipt Of Nonpublic Info
The U.S. Securities and Exchange Commission sued investment adviser firm Silver Point Capital LP in Connecticut federal court on Friday, alleging that it failed to establish policies to safeguard material nonpublic information, particularly from a now-deceased former BigLaw attorney.
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December 20, 2024
DOL Sues Over New York BBQ Co.'s $99M Stock Plan Deal
The U.S. Department of Labor sued Argent Trust Co. and several New York City restaurant operators in federal court, alleging they violated federal benefits law by causing a barbecue company's employee stock ownership plan to pay $99 million for overvalued company stock in a leveraged transaction.
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December 20, 2024
Trump Transfers $4B Equity Stake In Media Startup To Trust
President-elect Donald Trump has transferred control over his estimated $4 billion stake in the company that owns his social media platform to a revocable trust held by his son, according to regulatory flings.
Expert Analysis
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How 5 States' Deal Notification Laws Are Guiding Healthcare
Healthcare transaction notification laws at various stages of implementation in California, Illinois, Indiana, Oregon and Washington are shaping sector mergers and acquisitions, with significant transparency, continuity of care and compliance implications as providers tackle complex regulatory requirements, says Melesa Freerks at DLA Piper.
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Think Like A Lawyer: Dance The Legal Standard Two-Step
From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.
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Behind The Delay Of Final HSR Premerger Filing Rules
Erin Toomey at Epiq discusses the wait for the final version of the revised Hart-Scott-Rodino premerger filing requirements that were first introduced in June 2023, the factors that might be behind the delay, and how to plan for the potential data-focused rule change
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Opinion
The FTC Needs To Challenge The Novo-Catalent Deal
Novo's acquisition of Catalent threatens to substantially lessen competition in the manufacturing and marketing of GLP-1 diabetes and obesity drugs, and the Federal Trade Commission should challenge it under a vertical theory of harm, as it aligns with last year's merger guidelines and the Fifth Circuit decision in Illumina, says attorney David Balto.
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Series
Being A Luthier Makes Me A Better Lawyer
When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.
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Lead Like 'Ted Lasso' By Embracing Cognitive Diversity
The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.
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Today's Trends In Private Credit And Unitranche Financing
Excerpt from Practical Guidance
Proskauer’s Michelle Iodice analyzes recent patterns in private credit and unitranche financing transactions, including the rise of super-senior revolver loans as an alternative to traditional structure, and considers how they may shape the private credit and broadly syndicated loan markets through the remainder of 2024.
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The Good, The Bad And The Ugly Of Healthcare's PE Boom
While an influx of capital may provide access to new resources and innovative technologies, the private equity model's method of funding may be fundamentally at odds with patient-first healthcare, and in recent years that inherent tension has gotten ugly, say Eva Gunasekera and Jaclyn Tayabji at Tycko & Zavareei.
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Opinion
Now More Than Ever, Lawyers Must Exhibit Professionalism
As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.
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Series
Serving In The National Guard Makes Me A Better Lawyer
My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.
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Will Texas Stock Exchange Provide Regulatory Haven?
While the newly proposed Texas Stock Exchange may represent a market reaction to increasingly complex regulations, those looking to list on a national securities exchange should consider that their choice of an exchange may not relieve them of some of the most burdensome public company requirements, say Elizabeth McNichol and Ryan Lilley at Katten.
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A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates
Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.
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A Checklist For Lenders Preparing For CRE Loan Defaults
Considering the recent interest rate environment, lenders should brush up on the proper steps that they should take when preparing to respond to a borrower's default on a commercial real estate loan, and borrowers should understand what lenders will be reviewing, says attorney Norma Williams.
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Opinion
States Should Loosen Law Firm Ownership Restrictions
Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.
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Series
Solving Puzzles Makes Me A Better Lawyer
Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.