Ropes & Gray, Paul Weiss Steer Bain's $4.5B Envestnet Buy

By Al Barbarino

Ropes & Gray-led Bain Capital will buy Envestnet Inc., guided by Paul Weiss, in a take-private deal that values the financial technology company at $4.5 billion, Envestnet said in a statement Thursday. 

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US PE Firm To Bid €1M For French Industrial Machinery Biz

By Tom Fish

French engineering company Gaussin SA said Thursday that a consortium led by U.S. private equity firm Coral Reef Capital has offered €1 million ($1.08 million) to buy its subsidiary Metalliance, a troubled industrial machinery manufacturer.

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Earned Wealth Secures $200M, Buys Peer Thomas Doll

By Jade Martinez-Pogue

DLA Piper-advised Earned Wealth announced on Thursday that it received a $200 million growth investment from growth equity investors while simultaneously unveiling its acquisition of fellow medical professional-focused financial services firm Thomas Doll.

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South Korea Looks To Nix $32M Award To U.S. Hedge Fund

By Caroline Simson

South Korea said Thursday that it will look to overturn an arbitral award ordering it to pay some $32 million to a U.S. hedge fund following a dispute over a government bribery scandal that allegedly underpinned the $8 billion merger of two Samsung affiliates in 2015.

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2nd Circ. Backs Disbarred Atty's Prison Term For Fraud Plea

By Emilie Ruscoe

A disbarred California attorney can't reverse a Manhattan federal court's 5½-year prison sentence and $5.5 million restitution order that followed his guilty plea to wire fraud for a real estate and venture fraud scheme, the Second Circuit ruled Thursday.

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Platinum Equity Taking Heroux-Devtek Private In $990M Deal

By Al Barbarino

Platinum Equity Advisors has agreed to purchase Heroux-Devtek in a take-private deal that values the Quebec-based manufacturer of aerospace products at CA$1.35 billion ($990.1 million), Heroux-Devtek said in a statement Thursday.

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Deals Rumor Mill: Saudi Aramco, Paramount Global, Carlyle

By Tom Zanki

The Carlyle Group is considering acquiring Baxter International's kidney-care spinoff Vantive for about $4 billion, Aramco attracted more than $31 billion in orders for its $6 billion bond sale, and Paramount Global plans to cut more jobs before its merger with Skydance Media closes. Here, Law360 breaks down these and other notable deal rumors from the past week.

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Chancery Orders Invictus Fund Sides To Provide Case Update

By Jeff Montgomery

Pointing to hints of clarity in a distressed credit and special-situations fund's murky, 9-month-old battle for documents and cash held by its general partner and investment manager, a Delaware vice chancellor on Thursday ordered the two sides to produce a case update by Tuesday.

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Only 1 Gold Mine Investor Has Class Claim, Chancery Says

By Leslie A. Pappas

Only one of three warrant holders who sued a Nevada gold and silver mine in Delaware's Court of Chancery may move forward with a proposed class action, a Chancery Court judge has ruled, but the other pro se plaintiffs may continue with their individual claims.

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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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Cuomo Beats Retaliation Claims In NY Trooper's Suit

By Gina Kim

Former New York Gov. Andrew Cuomo defeated retaliation claims in a state trooper's lawsuit alleging she was sexually harassed while serving in Cuomo's security detail, after a federal judge said Friday that no employment relationship existed because Cuomo resigned months before his purported threat to seek prosecution of his alleged victims.

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Whistleblower's Attys Get $5.9M After Losing $11.5M Fee Ask

By Dorothy Atkins

A Massachusetts federal judge on Thursday awarded a whistleblower's counsel $5.9 million in fees plus $651,845 in costs and expenses after slashing their prior "exorbitant" $11.5 million fee request in May in a decade-old False Claims Act lawsuit alleging Fresenius Medical Care billed Medicare for unnecessary hepatitis tests.

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UK Litigation Roundup: Here's What You Missed In London

By Max Austin

This past week in London has seen the owner of the Lambretta scooter brand Innocenti SA embroiled in a trademark dispute with a property developer, a clash between two art dealers over a collection of tapestries, Telecom Italia pursue a debt claim against a competing telecommunications company, and performing arts trade union Equity hit a casting directory for charging unfair subscription fees on actors. Here, Law360 looks at these and other new claims in the U.K.

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Ex-Magellan Execs Waive Conflicts Over Past Shared Counsel

By Julie Manganis

Two former Magellan Diagnostics executives charged with conspiring to hide defects in the company's lead testing devices agreed on Friday to waive any potential conflict created by their prior joint representation by a Donnelly Conroy & Gelhaar LLP attorney.

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Brief

Former Colorado Court Workers Settle Sexism Claims

By Daniel Ducassi

The Colorado State Courts Administrator's Office said in a joint notice that it has settled a lawsuit in Denver District Court with two former workers who said they were laid off as part of a broader pattern of gender discrimination against female employees.

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Conn.'s Child Advocate Departs For Top Role At Nonprofit

By Christine DeRosa

The attorney who led Connecticut's Office of the Child Advocate for more than a decade is stepping down this fall to return to a legal nonprofit as its executive director.

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Analysis

Biggest Colorado Decisions Of 2024: A Midyear Report

By Daniel Ducassi

The U.S. Supreme Court's quick reversal of Colorado justices' decision removing former President Donald Trump from the state's ballots and a Boulder County judge's ruling clearing the way for landmark climate litigation about major oil companies rank among the most important decisions affecting Colorado so far this year.

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Paul Weiss Hopes To Stem Exits With New Partner Structure

By Matt Perez

Brad Karp, chairman of Paul Weiss Rifkind Wharton & Garrison, shared in a podcast published Thursday that the firm has followed a new two-track partnership compensation model as a means to combat retention issues plaguing similar firms.

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Litigation Funding 'Abuses' Targeted By Federal Lawmakers

By Bonnie Eslinger

Federal lawmakers are seeking to put the reins on third-party investors bankrolling litigation, with Rep. Darrell Issa, R-Calif., introducing legislation that would require disclosure of third-party financing deals in civil lawsuits, and Rep. James Comer, R-Ky., asking Chief Justice John Roberts on Friday to have the Judicial Conference review the practice.

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Lin Wood Wants Judge Disqualified In Ga. Defamation Case

By Emily Johnson

Controversial retired Georgia attorney L. Lin Wood has asked that a Georgia federal judge be disqualified from presiding over a defamation case he's facing from his former law partners, arguing that the case involved two witnesses from Alston & Bird LLP, where the judge previously worked.

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Sue Reisinger

General counsel at companies involved in environmental litigation scored victories and suffered some setbacks this week, including the dismissal of a Baltimore city suit seeking climate damages as well as Marathon Oil's record-setting $241.5 million Clean Air Act settlement.

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Guo Trial Juror Booted For Googling Fugitive Co-Defendant

By Rachel Scharf

The jury in Chinese dissident Miles Guo's $1 billion fraud and racketeering case was forced to restart its verdict deliberations on Friday after a juror was cut loose for Google-searching Guo's fugitive financial adviser and co-defendant William Je.

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