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Private Equity
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February 05, 2025
Chancery Tosses Challenge To $1.1B Smart & Final Sale
Writing that nothing in a "grab bag" of stockholder claims amounted to disclosure failures, Delaware's chancellor dismissed a suit challenging the $1.1 billion April 2019 sale of Smart & Final Stores Inc. — formerly controlled by funds of Ares Management Corp. — to interests of Apollo Global Management.
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February 05, 2025
Insignia Gets Third $1.9B Bid As Brookfield Joins The Fray
Insignia Financial Ltd. said Wednesday that Brookfield has become the third investment firm to offer more than $1.9 billion to buy the Australian financial services company.
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February 05, 2025
Entertainment-Focused SPAC Raises $200M To Purse Merger
Special purpose acquisition company K&F Growth Acquisition II began trading publicly Wednesday after raising $250 million in its initial public offering, which will be used to help the SPAC merge with a target in the in-person and mobile experiential entertainment sector.
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February 05, 2025
MoFo Adds BraunHagey Corporate Leader In San Francisco
Morrison Foerster LLP continues expanding its emerging companies and venture capital team, announcing Wednesday a BraunHagey & Borden LLP startup and venture capital specialist has come aboard as a partner in its San Francisco office.
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February 05, 2025
Missile-Defense Firm Karman Launches Plans For $400M IPO
Missile-defense and space programs company Karman Holdings Inc. launched plans Wednesday for an estimated $400 million initial public offering that would raise fresh funding for the private equity-backed business and its shareholders, represented by Willkie Farr & Gallagher LLP and underwriters' counsel Latham & Watkins LLP.
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February 05, 2025
Latham Adds Ex-SEC Pro, GC To NY Roster
The former acting director of the U.S. Securities and Exchange Commission's enforcement arm and a private capital specialist with in-house and private practice experience have come aboard Latham & Watkins LLP, the firm announced Wednesday, marking the latest in a flurry of lateral hires entering Latham's New York office since fall 2024.
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February 05, 2025
Sheppard Mullin Adds Healthcare Reg Partner From Troutman
Sheppard Mullin Richter & Hampton LLP on Wednesday announced the arrival of a healthcare partner joining from Troutman Pepper Locke LLP, continuing a streak of recent additions to its healthcare practice.
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February 05, 2025
Private Equity Group Of The Year: Debevoise
Debevoise & Plimpton LLP steered private equity giant Clayton Dubilier & Rice in its $15.5 billion acquisition of Truist Insurance Holdings and led Windstream Holdings in its $13.4 billion merger with Uniti Group, earning the firm a spot among the 2024 Law360 Private Equity Groups of the Year.
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February 05, 2025
Activist Nominates 4 Director Candidates To Kenvue Board
Activist investor Starboard Value LP on Wednesday unveiled its slate of four director candidates to be nominated to consumer products company Kenvue Inc.'s board of directors, saying that significant changes to the board are necessary to ensure the company is managed and overseen in a manner consistent with the best interests of its shareholders.
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February 04, 2025
OpenAI Judge Rips Musk's 'Broad' Bid To Block For-Profit
A California federal judge indicated Tuesday she'll likely deny Elon Musk's bid to preliminarily block OpenAI Inc. from transitioning into a for-profit enterprise, criticizing Musk's filings for being vague and broad and saying she'll toss some claims, while adding "something is going to trial in this case."
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February 04, 2025
SEC Receiver, Atty Agree To Settle Fraud Transfer Claims
A court-appointed receiver for a U.S. Securities and Exchange Commission case has reached a settlement with parties who allegedly received hundreds of thousands of dollars' worth of transfers from a fraudulent foreign exchange trading scheme, including the attorney and family of a convicted executive.
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February 04, 2025
McKesson Paying $850M For Top Stake In Eye Health Co.
Irving, Texas, healthcare services company McKesson Corp. said Tuesday it had agreed to buy a controlling interest in PRISM Vision, an ophthalmology services provider, from private equity firm Quad-C for $850 million.
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February 04, 2025
Real Estate PE Firm Closes $125M Sunbelt-Focused Fund
Tioga Capital LLC collected $125 million worth of capital commitments for a fund that aims to invest in real estate in the Sun Belt, the Atlanta-based real estate investment firm announced Tuesday.
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February 04, 2025
PE-Backed Identity Software Firm SailPoint Primes $1B IPO
Cybersecurity firm SailPoint on Tuesday unveiled plans for an estimated $1 billion initial public offering that would mark its return to public markets three years after a private-equity buyout, represented by Kirkland & Ellis LLP and the underwriters' counsel, Davis Polk & Wardwell LLP.
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February 04, 2025
Private Equity Group Of The Year: Skadden
Skadden Arps Slate Meagher & Flom LLP has been handling private equity deals since before they were called private equity and continues to be a leader in the field, in the past year helping Visma hit a $21 billion valuation, assisting in BlackRock's $12.9 billion acquisition of Global Infrastructure Partners and advising Permira on its investment in PharmaCord, earning it recognition among the 2024 Law360 Private Equity Groups of the Year.
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February 04, 2025
Greenberg Traurig Biz Pro Joins Holland & Knight In Texas
Holland & Knight LLP announced Tuesday that it has fortified its corporate mergers and acquisitions and private equity practice with an Austin, Texas-based partner who came aboard from Greenberg Traurig LLP.
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February 04, 2025
'Is This A Joke?' Judge Denies Atty Fees For Grocery Patrons
A California federal judge had so little tolerance for shoppers claiming victory and seeking attorney fees from the abandoned Kroger-Albertsons merger that in tossing their motion and underlying lawsuit he noted with incredulity, "Plaintiffs are actually making these arguments."
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February 04, 2025
KKR Raises Fuji Soft Offer In Blazing Battle With Bain
A contentious bidding battle between KKR and Bain Capital intensified Tuesday as the buyout firms continued their fight to take control of Japan's Fuji Soft, with KKR disclosing it has once again raised its tender offer price.
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February 04, 2025
Judge Rejects Blink Fitness Ch. 11 Plan Exculpations
A Delaware bankruptcy judge Tuesday rejected Blink Fitness' request to shield the administrator of its Chapter 11 wind-down plan from legal liability, saying she can't release claims for future acts.
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February 04, 2025
Pearl Energy Closes $999.9M Fund, Tioga Raises $125M
Kirkland & Ellis LLP-advised Pearl Energy Investments on Tuesday revealed that it clinched its fourth flagship fund after securing $999.9 million in investor commitments, while Atlanta-based multi-strategy real estate investment firm Tioga Capital closed its fourth fund after raising $125 million in capital commitments.
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February 04, 2025
Trump Taps GOP Senate Staffer For Treasury Bank Policy Role
President Donald Trump on Monday nominated Luke Pettit, a senior adviser to Sen. Bill Hagerty, R-Tenn., and former Federal Reserve policy analyst, to become the U.S. Department of the Treasury's top bank policy official.
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February 04, 2025
Mintz Adds Dentons West Coast Corporate Head In San Diego
Mintz Levin Cohn Ferris Glovsky and Popeo PC continues growing its corporate team, announcing Monday it is bringing in a Dentons emerging companies and venture capital specialist as a member of its San Diego office.
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February 04, 2025
Advertising Biz StackAdapt Secures $235M Investment
Canadian advertising platform StackAdapt, advised by Dentons Canada LLP and Skadden Arps Slate Meagher & Flom LLP, on Tuesday revealed that it closed a growth capital raise after securing $235 million of investor commitments, which will be used to help the company expand its footprint.
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February 03, 2025
Texas' Bid To Launch Stock Exchange Moves Forward
As the owner of the new Texas Stock Exchange LLC gears up to begin trading by next year, capital markets attorneys are closely watching how the company plans to penetrate a market long dominated by two New York-based juggernauts.
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February 03, 2025
OpenAI, Microsoft Aim To Ax Musk's For-Profit Change Suit
OpenAI and Microsoft have urged a California federal court in separate motions to dismiss Elon Musk's antitrust and breach of contract lawsuit claiming OpenAI lied by telling investors it would always be a nonprofit artificial intelligence research organization, calling the allegations "conclusory" and lacking factual backing.
Expert Analysis
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How To Clean Up Your Generative AI-Produced Legal Drafts
As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.
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Supreme Court's ALJ Ruling Carries Implications Beyond SEC
In its recent Jarkesy opinion, the U.S. Supreme Court limited the types of cases that can be tried before the U.S. Securities and Exchange Commission's in-house administrative law judges, setting the stage for challenges to the constitutionality of ALJs across other agencies, say Robert Robertson and Kimberley Church at Dechert.
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Series
Boxing Makes Me A Better Lawyer
Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.
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Opinion
Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Roundup
After Chevron
Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 37 different rulemaking and litigation areas.
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Navigating Scrutiny Of Friendly Professional Corps. In Calif.
In light of ongoing scrutiny and challenges to private equity participation in the California healthcare marketplace, particularly surrounding the use of the friendly professional corporation model, management services organizations should consider implementing four best practices, say attorneys at Holland & Knight.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Proposed Customer ID Rule Could Cost Investment Advisers
A rule recently proposed by FinCEN and the U.S. Securities and Exchange Commission to make financial advisers collect more customer information parallels an anti-money laundering and counterterrorism rule proposed this spring, but firms may face new compliance costs when implementing these screening programs, say attorneys at Lowenstein Sandler.
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What 2 Rulings On Standing Mean For DEI Litigation
Recent federal court decisions in the Fearless Fund and Hello Alice cases shed new light on the ongoing wave of challenges to diversity, equity and inclusion initiatives, with opposite conclusions on whether the plaintiffs had standing to sue, say attorneys at Moore & Van Allen.
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Series
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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Arbitration Implications Of High Court Coinbase Ruling
The U.S. Supreme Court's recent Coinbase v. Suski ruling not only reaffirmed the long-standing principle that arbitration is a matter of contract, but also established new and more general principles concerning the courts' jurisdiction to decide challenges to delegation clauses and the severability rule, say Tamar Meshel at the University of Alberta.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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The Current State Of Healthcare Transaction Reviews In Calif.
As of April, certain healthcare transactions in California have been subject to additional notification compliance requirements, and complying with these new rules could significantly delay and discourage some deals, says Andrew Demetriou at Husch Blackwell.