Asset Management

  • July 24, 2024

    Weil Guides Close Of Agellus Capital's $400M Debut Fund

    Private equity shop Agellus Capital, advised by Weil Gotshal & Manges LLP, on Wednesday announced that it clinched its debut private equity fund with $400 million in total limited partner commitments.

  • July 24, 2024

    3rd Circ. Revives Ex-Ricoh USA Workers' 401(k) Fee Suit

    The Third Circuit on Wednesday reversed dismissal of a federal benefits lawsuit from former workers at Ricoh USA Inc. alleging their employee 401(k) plan paid excessive recordkeeping and administration fees, finding retirement mismanagement claims should proceed to discovery.

  • July 24, 2024

    Chancery OKs $6M Deal Recovery After 'Voidness' Ruling

    The Delaware Supreme Court's partial reversal last year of a vice chancellor's findings that upheld an investment company's foreclosure on $50 million in co-founder equity units cleared the way on Wednesday for the same company to recoup more than $6 million in damages and expenses.

  • July 24, 2024

    Rising Star: Kirkland's Mark Boyagi

    Mark Boyagi is a partner in Kirkland & Ellis LLP's investment funds practice group and is a leader in the firm's liquidity solutions team, where he has advised on several transactions in global secondaries market volume, including advising Alpine Investors last year on a $3.4 billion single-asset continuation fund transaction, earning him a spot among the fund formation law practitioners under age 40 honored by Law360 as Rising Stars.

  • July 24, 2024

    Priest Loses Fee Bid After 'Split Baby' SEC Verdict

    A Greek Orthodox priest and hedge fund founder who largely beat a U.S. Securities and Exchange Commission suit is not entitled to recoup $1.7 million in legal fees because the commission was justified in bringing the case, a Boston federal judge ruled Tuesday.

  • July 24, 2024

    Wilson Sonsini Leads PE-Backed OneStream's $490M IPO

    Private-equity backed financial software provider OneStream Inc. railed in debut trading Wednesday after pricing a $490 million initial public offering above its range, represented by Wilson Sonsini Goodrich & Rosati PC and underwriters counsel Latham & Watkins LLP, kicking off a potentially busy week for IPOs.

  • July 24, 2024

    T-Mobile Plugs $4.9B Into JV With KKR To Buy Metronet

    T-Mobile announced Wednesday that it has partnered up with private equity giant KKR to acquire pure-play fiber company Metronet in a joint venture that sees T-Mobile investing roughly $4.9 billion at deal close, in a transaction built by eight law firms.

  • July 23, 2024

    Nettled Exec Tells Jury Wells Fargo Doesn't Get His Disability

    A former Wells Fargo managing director who claims he was terminated because of his disability wavered between being tearful and exasperated during four hours on the stand Tuesday as he tried to explain to a jury in Charlotte what workplace accommodations he was seeking and why.

  • July 23, 2024

    Lawmakers Agree On Flexibility To Monitor AI In Finance

    Lawmakers on the House Financial Services Committee agreed Tuesday that the stakes are high when it comes to regulating the use of generative artificial intelligence in financial and housing services, and appeared to agree with industry representatives that any regulation should prioritize flexibility to keep up with the fast-developing technology.

  • July 23, 2024

    Coinbase Renews Plea For Gensler's Private Emails

    Coinbase Inc. asked once again Tuesday to access the private communications of U.S. Securities and Exchange Commission Chair Gary Gensler as it fights allegations that it permitted the illegal trading of unregistered securities on its crypto platform.

  • July 23, 2024

    Cornell Tells High Court Not To Touch Workers' ERISA Suit

    Cornell University urged the U.S. Supreme Court not to take up a class action accusing it of mismanaging its employees' retirement savings, saying it shouldn't disturb a Second Circuit ruling that found the workers leading the suit failed to show that Cornell's payments to its service providers involved self-dealing.

  • July 23, 2024

    Labor Dept. ESG Rule May Survive Chevron's Demise

    The Fifth Circuit recently overturned a ruling that relied on the now-defunct doctrine of Chevron deference to uphold a U.S. Department of Labor rule covering socially conscious retirement plan investing, but some experts believe the rule has a good chance at surviving — even with the precedent off the books.

  • July 23, 2024

    Indonesian National Admits To $23M Ponzi Scheme

    An Indonesian national pled guilty in New York federal court on Tuesday to conspiring to defraud a group of investors out of $23 million through a Ponzi scheme, ultimately spending the money on luxury goods and real estate.

  • July 23, 2024

    Reinsurance Biz Secures $1.3B In Latest Capital Raise

    Annuity reinsurer Martello Re Ltd., advised by Kirkland & Ellis LLP and Clifford Chance LLP, on Tuesday announced that it successfully completed a $1.3 billion capital raise, including $935 million of equity commitments and an upsized current credit facility by $360 million.

  • July 23, 2024

    Arbitrator On Pain Meds Didn't End Dispute, Ga. Panel Says

    The Georgia Court of Appeals vacated an arbitration award in an inheritance dispute between siblings after finding the award failed to resolve a "significant dispute" related to the alleged withdrawal and misuse of escrow funds.

  • July 23, 2024

    4 Firms Guide SPAC Mergers Targeting AI, Cannabis Sectors

    An AI-powered startup that vows to combat "disinformation" and a medical cannabis developer have agreed to go public by merging with special purpose acquisition companies through separate deals unveiled this week, guided by four law firms and a law office.

  • July 23, 2024

    Rising Star: Davis Polk's Sijia Cai

    Sijia Cai led the Davis Polk & Wardwell LLP team that advised investment firm Rubicon Founders LLC on its roughly $1.2 billion second flagship private equity fund and was on the team that advised on a $2.5 billion Morgan Stanley secondaries fund, earning her a spot among the fund formation practitioners under age 40 honored by Law360 as Rising Stars.

  • July 22, 2024

    Plantronics Investors Ink $29.5M 'Channel Stuffing' Sales Deal

    Plantronics investors have asked a California federal judge to greenlight a $29.5 million settlement resolving their claims the company used unsustainable "channel stuffing" sales practices to deceptively boost revenues, which led to a drop in stock price when the tactic failed and was revealed to investors.

  • July 22, 2024

    Wells Fargo Flouted Director's Dignity, Jury Told In ADA Trial

    Wells Fargo chose to lay off a longtime managing director to avoid dealing with his request to continue working from home to cope with his bladder and colon condition as the bank readied for a return to office after the pandemic, a federal jury in Charlotte heard Monday.

  • July 22, 2024

    Uber, Investors Ink $200M Deal To End 'Train Wreck' IPO Suit

    Uber Technologies Inc. has agreed to pay $200 million to exit a class action accusing it of failing to inform investors about significant business risks tied to stalling growth and potential legal issues ahead of its $8.1 billion initial public offering in 2019.

  • July 22, 2024

    Goodwin Guides Bregal Sagemount's $500M Fund Close

    Growth-focused private equity shop Bregal Sagemount, advised by Goodwin Procter LLP, on Monday announced that it clinched its inaugural fund after raising $500 million of capital commitments.

  • July 22, 2024

    Boston Fund Can't Duck SEC's Unregistered Dealer Case

    A Massachusetts federal judge on Monday kept alive U.S. Securities and Exchange Commission allegations that Boston investment firm Auctus Fund violated securities laws by failing to register as a broker-dealer when harvesting deeply discounted shares of cash-strapped public companies through debt agreements.

  • July 22, 2024

    Catching Up With Delaware's Chancery Court

    A $6 million bank fee, a $42.5 million shopping mall deal, some questionable Amazon deliveries and long-ago expired ketchup: it was all part of the comings and goings in Delaware's Court of Chancery last week. New cases involved mining and cybersecurity companies, board takeovers, "weaponized" director election provisions, and legal fees following a $3.1 billion telecom merger. In case you missed it, here's the latest from the Chancery Court.

  • July 22, 2024

    AI-Focused Velocium To Go Public Via $445M SPAC Merger

    AI-focused technology provider Velocium Inc. has agreed to go public by merging with special purpose acquisition company Maquia Capital Acquisition Corp. in a deal that values Velocium at $445 million, both parties announced.

  • July 22, 2024

    Litigation Funder Sues Wyoming Co. With Same Name

    Litigation funding company Parabellum Capital LLC has filed a trademark lawsuit in Colorado federal court against a Wyoming company called Parabellum Capital Inc., but the Wyoming company appears to be backing down.

Expert Analysis

  • A Deep Dive Into The Evolving World Of ESG Ratings

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    Attorneys at Mintz discuss the salience of environmental, social and governance ratings in corporate circles in recent years, and consider certain methodologies underlying their calculation for professionals, as well as issues concerning the ESG ratings and products themselves.

  • Lean Into The 'Great Restoration' To Retain Legal Talent

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    As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.

  • What The NYSE Proposed Delisting Rule Could Mean For Cos.

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    The New York Stock Exchange's recently proposed rule would provide the exchange with discretionary authority to commence delisting proceedings for a company substantially shifting its primary business focus, raising concerns for NYSE-listed companies over the exact definition of the exchange's proposed "substantially different" standard, say attorneys at Winston & Strawn.

  • Boeing Saga Underscores Need For Ethical Corporate Culture

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    In the wake of recent allegations about Boeing’s safety culture, and amid the U.S. Department of Justice’s new whistleblower incentives, business leaders should reinvigorate their emphasis on compliance by making clear that long-term profitability requires ethical business practices, says Maxwell Carr-Howard at Dentons.

  • Key Takeaways From 2024 Accountants' Liability Conference

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    At the recent annual Accountants' Liability Conference, regulators provided important commentary on new Public Company Accounting Oversight Board rulemaking and standard-setting initiatives, and emphasized regulatory priorities ranging from the tone at the top to alternative practice structures, say attorneys at Arnold & Porter.

  • Series

    Fishing Makes Me A Better Lawyer

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    Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge​​​​​​​ at Robinson Bradshaw.

  • Parsing Controversial Del. General Corporation Law Proposals

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    In response to issues raised in three recent high-profile Delaware Court of Chancery decisions, many amendments to the Delaware General Corporation Law were quickly proposed that, if enacted, would bring significant changes likely to be hotly debated — and litigated — for the foreseeable future, say attorneys at Morgan Lewis.

  • A Healthier Legal Industry Starts With Emotional Intelligence

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    The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.

  • To Make Your Legal Writing Clear, Emulate A Master Chef

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    To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.

  • Takeaways From SEC's New Data Breach Amendments

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    The U.S. Securities and Exchange Commission's recent amendment of its consumer privacy rules to require investment advisers and broker-dealers to put procedures in place to uncover data breaches and report them to customers evidences that protecting client records and information remains an SEC priority, say attorneys at Simpson Thacher.

  • Circuit Judge Writes An Opinion, AI Helps: What Now?

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    Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.

  • BF Borgers Clients Should Review Compliance, Liability

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    After the U.S. Securities and Exchange Commission's recently announced enforcement proceedings against audit firm BF Borgers for fabricating audit documentation for hundreds of public companies, those companies will need to follow special procedures for disclosure and reporting — and may need to prepare for litigation from the plaintiffs bar, say attorneys at Debevoise.

  • Perspectives

    Trauma-Informed Legal Approaches For Pro Bono Attorneys

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    As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.

  • Opinion

    Del. Needs To Urgently Pass Post-Moelis Corporate Law Bill

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    After the Delaware Chancery Court's decision in West Palm Beach Firefighters' Pension v. Moelis sparked confusion around governance rights, recently proposed amendments to the Delaware General Corporation Law would preserve the state's predictable corporate governance system, says Lawrence Hamermesh at Widener University Delaware Law School.

  • Series

    Playing Music Makes Me A Better Lawyer

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    My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.

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