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Mergers & Acquisitions
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January 23, 2025
Conflict Limits 1 Lawyer On Javice Team As Trial Date Slips
A lawyer defending Charlie Javice on charges she swindled JPMorgan Chase into paying $175 million for a financial aid startup she founded will be limited in representing her, a Manhattan federal judge said Thursday, before pushing trial back a week.
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January 23, 2025
Khan Leaving The Federal Trade Commission By Jan. 31
Federal Trade Commission member Lina M. Khan has said she'll leave the agency by the end of the month, stepping down after President Donald Trump's inauguration enshrined her demotion from chair to line commissioner.
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January 23, 2025
Mergers & Acquisitions Group Of The Year: Weil
Weil Gotshal & Manges LLP clinched some of the largest deals of 2024 for big-name clients as diverse as The Home Depot, Sunoco, Cedar Fair and a consortium that includes Glencore PLC, earning the firm a spot among the 2024 Law360 Mergers & Acquisitions Groups of the Year.
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January 23, 2025
Spotless Brands' Sale Could Make Splash, And More Rumors
Owners of Spotless Brands are seeking to sell the car-wash operator for $3 billion, while more overseas companies are preparing U.S. initial public offerings, including Chinese self-driving systems maker Inceptio Technologies and Israel-based cryptocurrency trading platform eToro. Here, Law360 breaks down the notable deal rumors from the past week.
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January 23, 2025
Latham-Led Brookfield Buying Divvy Homes For $1B
A Brookfield private real estate fund has agreed to acquire Divvy Homes' property portfolio and platform for approximately $1 billion, with an expected close in mid-February, the companies announced Wednesday.
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January 23, 2025
Baker Botts Adds DOJ Atty Who Led Airline Merger Challenge
The former U.S. Department of Justice antitrust attorney who led the agency's successful challenge to a proposed merger between JetBlue and Spirit Airlines has joined Baker Botts LLP as a partner in the firm's Washington, D.C., office.
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January 23, 2025
Holland & Knight Adds Davis Wright's Ex-Managing Partner
Holland & Knight LLP has added a corporate and venture capital attorney who last year stepped down as Davis Wright Tremaine LLP's managing partner, the firm announced Thursday.
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January 23, 2025
Greenlight CLO Rejoins Nelson Mullins As Corporate Co-Chair
The former chief legal officer at family-oriented personal finance company Greenlight Financial Technology Inc. has rejoined Nelson Mullins Riley & Scarborough LLP in Atlanta to co-chair the firm's corporate practice group.
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January 23, 2025
Bain Matches CC Capital's Rival Bid For Insignia Financial
Bain Capital has submitted a revised bid of more than $1.9 billion for Australia's Insignia Financial Ltd., matching an earlier revised offer submitted by fellow U.S. private equity firm CC Capital Partners just days ago, Insignia said Thursday.
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January 22, 2025
American, JetBlue Ink $1.9M Atty Fee Deal After Antitrust Loss
A Massachusetts federal judge signed off Tuesday on a settlement requiring American Airlines and JetBlue to cover $1.9 million worth of legal fees that a group of state attorneys general spent successfully challenging the two airlines' Northeast Alliance joint venture as anticompetitive.
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January 22, 2025
Del. Justices Probe $10.4B Anaplan-Thoma Bravo Deal
The Delaware Supreme Court on Wednesday repeatedly asked attorneys what Anaplan Inc.'s officers needed to tell shareholders before they voted on the company's $10.4 billion sale to private equity firm Thoma Bravo, probing what sorts of disclosures would be required under the First State's so-called Corwin doctrine.
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January 22, 2025
Former Pioneer CEO Sues FTC Over Exxon Board Block
The former CEO of Pioneer Natural Resources, Scott Sheffield, accused the Federal Trade Commission of violating his constitutional rights by barring him from serving on Exxon Mobil Corp.'s board when the agency cleared a $60 billion merger between Exxon and Pioneer.
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January 22, 2025
Securities Defense Bar Notched More Dismissals In '24
Courts threw out more securities class actions last year than they had in years before, reversing a six-year downturn in the number of shareholder suits resolved through settlement or dismissal, according to a Wednesday report by National Economic Research Associates Inc.
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January 22, 2025
Waste Co. Says Ex-Director Used Secret Info For Sabotage
Commercial waste management company RTS has accused a former board director in Delaware Chancery Court of misusing its confidential information and deliberately sabotaging the business to try to force a cheap sale to the ex-director's private equity firm.
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January 22, 2025
Pa. Justices Revive Case Over Hospital Care Discontinuation
Pennsylvania's highest court on Wednesday ruled a trial court had reasonable grounds to halt plans by now-bankrupt hospital operator Prospect Medical Holdings Inc. to discontinue emergency and acute care services at a Delaware County facility.
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January 22, 2025
Paul Weiss Repping Aptiv On Plans To Split Into 2 Companies
Paul Weiss Rifkind Wharton & Garrison LLP-led technology company Aptiv PLC on Wednesday announced plans to separate its Electrical Distribution Systems business, creating two independent companies that it says are "optimally positioned" to serve customers.
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January 22, 2025
Paul Weiss Guides Ares On $304M Form Technologies Buy
Paul Weiss is guiding an Ares Management-led group on the $304 million purchase of a majority of Form Technologies Inc.'s common equity, in a transaction that allows Kirkland & Ellis LLP-advised Form to "substantially deleverage" its balance sheet, Form said Wednesday.
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January 22, 2025
Mergers & Acquisitions Group Of The Year: Simpson Thacher
Simpson Thacher & Bartlett LLP's mergers and acquisitions team clinched some of the biggest deals that reshaped the technology and media landscapes in the past year, including Cisco Systems' $28 billion purchase of Splunk and Paramount's $28 billion merger with Skydance Media, landing the law firm a spot among the 2024 Law360 Mergers & Acquisitions Groups of the Year.
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January 22, 2025
Saudi Wealth Fund Selling Biz Service Firm In $907M Deal
Saudi Arabia's Public Investment Fund said Wednesday it has agreed to sell business services and digital solutions firm Thiqah to Elm Company, a Saudi Arabian digital security firm, in a deal valued at $907 million.
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January 21, 2025
Ex-Meta COO Sanctioned For Deleting Cambridge Emails
A Delaware Court of Chancery judge on Tuesday sanctioned Meta Platforms Inc.'s former Chief Operating Officer Sheryl Sandberg in consolidated litigation over the Facebook Cambridge Analytica data scandal, finding that she likely selectively deleted emails that related to the litigation.
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January 21, 2025
Del. Justices Seal Oracle's Win In $9.3B NetSuite Merger Suit
The Delaware Supreme Court on Tuesday affirmed the Chancery Court's toss last year of a challenge to Oracle Corp.'s $9.3 billion acquisition of NetSuite Corp. in 2016, saying the Chancery did not err in finding that the transaction was untainted from influence by Oracle's management or its founder and top shareholder.
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January 21, 2025
Judge OKs Deal To Keep Some American Freight Stores Open
A Delaware bankruptcy judge on Tuesday approved a sale in Chapter 11 that will keep the lights on in more than two dozen American Freight home furnishing stores by transferring their leases from the bankrupt Franchise Group.
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January 21, 2025
Colo. Court OKs Use Of LLC Test For LPs In Ranch War
A Colorado state appeals court affirmed a trial court's decision to dissolve a partnership that owned a ranch in the state, ruling for the first time that a test for determining when judicial dissolution is necessary can be applied to limited partnerships.
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January 21, 2025
Paul Hastings Repping TikTok Buyout Consortium
Global law firm Paul Hastings LLP said Tuesday it is representing an American investor group, led by the founder of Employer.com, that has launched a formal bid to acquire the U.S. operations of TikTok.
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January 21, 2025
Ex-Cannabis Exec Hit With Insider Trading Charges
A former executive of cannabis giant Verano Holdings and friends from his country club have been hit with both criminal charges and a civil lawsuit for insider trading, with the government alleging they bought stock in a rival cannabis company Verano had planned to acquire based on nonpublic information.
Expert Analysis
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Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
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Election Unlikely To Overhaul Antitrust Enforcers' Labor Focus
Although the outcome of the presidential election may alter the course of antitrust enforcement in certain areas of the economy, scrutiny of labor markets by the Federal Trade Commission and the U.S. Department of Justice is likely to remain largely unaffected — with one notable exception, say Jared Nagley and Joy Siu at Sheppard Mullin.
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Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
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Bristol-Myers Win Offers Lessons For Debt Security Holders
A New York federal judge's recent dismissal of a $6.4 billion lawsuit against Bristol-Myers Squibb, due to plaintiff UMB Bank's lack of standing, serves as an important reminder to debt security holders to obtain depositary proxies before pursuing litigation, say attorneys at Milbank.
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Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.
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Avoiding Merger Disputes Via Careful LLC Agreement Drafting
The Delaware Court of Chancery recently upheld a merger in a dispute over the process of amending the target's limited liability company agreement, underscoring the importance of understanding the Delaware LLC Act default rules and careful drafting to allow for contractual modifications, says Jane Trueper at Lathrop.
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Use The Right Kind Of Feedback To Help Gen Z Attorneys
Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.
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Opinion
Congress Can And Must Enact A Supreme Court Ethics Code
As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.
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Series
The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan
Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.
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To Report Or Not To Report Others' Export Control Violations
A recent Bureau of Industry and Security enforcement policy change grants cooperation credit to those that report violations of the Export Administration Regulations committed by others, but the benefits of doing so must be weighed against significant drawbacks, including the costs of preparing and submitting a report, says Megan Lew at Cravath.
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With Esmark Case, SEC Returns Focus To Tender Offer Rules
The U.S. Securities and Exchange Commission's recent enforcement action against Esmark in connection with its failed bid to acquire U.S. Steel indicates the SEC's renewed attention under Rule 14e‑8 of the Exchange Act on offerors' financial resources as a measure of the veracity of their tender offer communications, say attorneys at MoFo.
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HSR Amendments Intensify Merger Filing Burdens, Data Risk
The antitrust agencies' long-awaited changes to premerger notification rules under the Hart-Scott-Rodino Act stand to significantly increase the time and cost involved in preparing an initial HSR notification, and will require more proactive attention to data issues, says Andrew Szwez at FTI Technology.
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What's Inside Feds' Latest Bank Merger Review Proposals
Recent bank merger proposals from a trio of federal agencies highlight the need for banks looking to grow through acquisition to consider several key issues much earlier in the planning process than has historically been necessary, say attorneys at Simpson Thacher.
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State Of The States' AI Legal Ethics Landscape
Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.