Private Equity

  • June 27, 2024

    Cannabis Co. Settles Lender Suit After Regulator Delays

    Troubled cannabis company Parallel settled a suit with three lenders who alleged a "self-dealing scheme" within the company after spending about a year trying to finalize the agreement and clear regulatory hurdles in various states.

  • June 27, 2024

    Vista Delays Czech Deal Vote In Light Of $3.2B MNC Bid

    Vista Outdoor Inc. said Thursday it will postpone a special meeting of stockholders to vote on the sale of part of its business to a Czech defense group in light of a new $3.2 billion buyout offer from Dallas-area private equity shop MNC Capital Partners LP. 

  • June 27, 2024

    Justices Limit SEC's Use Of In-House Courts

    The U.S. Supreme Court on Thursday curtailed the U.S. Securities and Exchange Commission's use of its in-house court system, saying the accused have a right to a jury trial when financial penalties are on the table.

  • June 26, 2024

    BlackRock Can't Escape Saba Capital's Voting Bylaws Suit

    A New York federal judge Tuesday refused to toss Saba Capital Management's lawsuit claiming a BlackRock Inc. environmental, social and corporate governance trust has illegal shareholder voting bylaws, but also refused to block BlackRock from applying the bylaws at issue to the current election.

  • June 26, 2024

    5th Circ. Says SEC Must Reconsider Axing Proxy Regulations

    The Fifth Circuit on Wednesday vacated the U.S. Securities and Exchange Commission's decision to rescind a portion of Trump-era rules requiring proxy advisory firms to notify companies about their advice to investors, ruling that the agency didn't adequately explain the abrupt change.

  • June 26, 2024

    Chamber Backs 9th Circ. Call To Nix SEC's 'Gag Rule'

    The U.S. Chamber of Commerce is among those calling on the Ninth Circuit to overturn a long-standing U.S. Securities and Exchange Commission policy that settling parties not be allowed to deny the allegations against them, saying that the so-called gag rule threatens the free speech rights of the accused.

  • June 26, 2024

    Online Comic Platform Leads 2 IPOs Raising $390M Total

    Online comic platform Webtoon Entertainment Inc. and Australian natural gas producer Tamboran Resources Corp. on Wednesday priced initial public offerings, raising a combined $390 million under the guidance of four law firms.

  • June 26, 2024

    Talc Co. Barretts' Creditors Push To Dismiss Ch. 11 Case

    Unsecured creditors of Barretts Minerals have urged a Texas bankruptcy judge to dismiss its bankruptcy following the debtor's sale of its talc business, arguing that Barretts remains in bankruptcy only to get its fully solvent parent company out of its talc liability.

  • June 26, 2024

    Conn. Insurance Chief Can Limit Struggling Insurer's Payouts

    A Connecticut state court imposed a temporary moratorium on certain benefits that a private equity-owned life insurer can pay out to policyholders until a rehabilitation plan can be confirmed for the failing carrier, granting the state insurance department's petition for a rehabilitation order.

  • June 26, 2024

    Judge Denies ConvergeOne Lenders' Bid To Halt Ch. 11 Plan

    A Texas federal judge has rejected a request by a group of ConvergeOne lenders to stay a bankruptcy court's order approving an equity rights offering included in the information technology company's Chapter 11 plan, ending the spurned lenders' challenge to a deal they claimed ran afoul of bankruptcy rules. 

  • June 26, 2024

    Greenberg Traurig Adds 3-Atty Team From Schulte Roth In NY

    Greenberg Traurig LLP has hired a three-attorney private wealth services team, comprising two shareholders and an associate, from Schulte Roth & Zabel LLP in New York.

  • June 26, 2024

    Latham, Goodwin Lead Cold Storage Giant's IPO Filing

    Real estate investment trust Lineage Inc., a large owner of cold-storage warehouses, filed plans on Wednesday for an initial public offering, represented by Latham & Watkins LLP and underwriters counsel Goodwin Procter LLP.

  • June 26, 2024

    Akerman Adds Foley Hoag Corporate Atty In DC

    Akerman hired a competition counsel from Foley Hoag LLP in Washington who spent the past four and half years representing clients in a range of antitrust matters.

  • June 26, 2024

    $10B AIR-Blackstone Deal Set To Close After Investor Nod

    Denver-based Apartment Income REIT Corp.'s shareholders have approved an agreement to sell off the real estate investment trust to private equity giant Blackstone for $10 billion, paving the way for its close within the next several days.

  • June 26, 2024

    Warburg Pincus Plugs $350M Into Data Connectivity Co.

    Data connectivity solutions company CData Software on Wednesday announced that it secured a roughly $350 million growth capital investment led by private equity giant Warburg Pincus in a deal built by three firms.

  • June 26, 2024

    A Picture Of Office Sector Distress

    This five-part series from Law360 Real Estate Authority explores distressed office buildings in Chicago, San Francisco, Miami, Dallas and New York City in an illustration of how the stressors facing the asset class are playing out across the country.

  • June 26, 2024

    MNC Capital Makes 'Final' $3.2B Offer For Vista Outdoor

    MNC Capital Partners LP said Wednesday it has bumped up its all-cash offer to buy Vista Outdoor Inc. to $42 per share, or about $3.2 billion, in its final bid to scoop up the sporting goods maker.

  • June 25, 2024

    Tuna Buyers Settle $1B Price-Fixing Claims Before July Trial

    Tuna buyers seeking $1 billion in damages over allegations that StarKist, its parent company and a private investment firm that put money into Bumble Bee Foods conspired to hike the price of the tinned fish have reached settlements just ahead of trial, according to a California federal judge's order Tuesday.

  • June 25, 2024

    Adviser, Firm Owe SEC $425K For Mishandling Crypto Assets

    A Florida federal judge on Tuesday approved approximately $425,000 in settlements in a suit by the U.S. Securities and Exchange Commission against an investment adviser and its owner, alleging they hid investment strategies and lost control of the firm's recordkeeping, preventing them from accessing crypto assets possibly worth $10 million.

  • June 25, 2024

    Chancery Tentatively OKs $15.5M Lordstown SPAC Suit Deal

    A $15.5 million class settlement for a stockholder suit that challenged the special-purpose acquisition company deal that took Lordstown Motors Inc. public won tentative Delaware Court of Chancery approval Tuesday, conditioned on confirmation of one expense claim.

  • June 25, 2024

    Rocket Co. Shareholders Sue For Info On Take-Private Deal

    Two Astra Space Inc. shareholders sued the satellite launch company seeking records concerning a take-private deal that has valued company stock at a discount, voicing suspicions that the merger was approved to squeeze out minority shareholders.

  • June 25, 2024

    UK Billionaire's Pilot Avoids Prison For Insider Trading

    A Manhattan federal judge sentenced a former private jet pilot to house arrest Tuesday for insider trading on stock tips from his billionaire boss Joe Lewis, finding that a prison term would be unfair in comparison to Lewis' non-incarceratory sentence.

  • June 25, 2024

    Reed Smith, Willkie Lead PE Firm's Investment In Music Biz

    Music and entertainment company Create Music Group, advised by Willkie Farr & Gallagher LLP, on Tuesday announced that it banked a $165 million minority investment led by Reed Smith LLP-advised private equity shop Flexpoint Ford.

  • June 25, 2024

    Meadow Partners Raises $530M For Latest Real Estate Fund

    Real estate investment manager Meadow Partners announced Tuesday it raised $530 million for the sixth installment of its flagship real estate fund, with capital commitments from a mix of new investors and longtime partners.

  • June 25, 2024

    Troutman Pepper Gets Restructuring Pro From Sidley Austin

    Troutman Pepper Hamilton Sanders LLP has hired a seasoned attorney for its finance and restructuring practice who previously worked at Sidley Austin LLP for more than 20 years.

Expert Analysis

  • Think Like A Lawyer: Follow The Iron Rule Of Trial Logic

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    Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.

  • Banks Have Won Syndicated Loan Battle, But Not The War

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    Though the U.S. Supreme Court's recent denial of certiorari in Kirschner v. JPMorgan preserves the status quo that syndicated loans are not securities, the U.S. Securities and Exchange Commission's discomfort suggests that the underlying issues have not been fully resolved, say attorneys at Crowell & Moring.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • SEC Off-Channel Comms Action Hints At Future Enforcement

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    Although the U.S. Securities and Exchange Commission’s recent enforcement action against Senvest does not shed light on how the agency will calibrate penalties related to off-channel communications violations, it does suggest that we may see more cases against standalone investment advisers, say attorneys at Sidley.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • What 3rd Circ. Trust Ruling Means For Securitization Market

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    Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.

  • Behind Indiana's Broad New Healthcare Transactions Law

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    The high materiality threshold in Indiana's recently passed healthcare transaction law, coupled with the inclusion of private equity in its definition of healthcare entities, makes it one of the broadest state review regulations to date, say attorneys at DLA Piper.

  • 10 Tips For ESG Disclosure Compliance In Private Funds

    Excerpt from Practical Guidance
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    As regulators increase scrutiny of misleading claims about environmental, social and governance investments, private fund sponsors should consider several practical tips for communicating accurately with potential investors, drafting comprehensive disclosures and establishing internal policies that can keep pace with evolving compliance requirements, says Jonathan Rash at Ropes & Gray.

  • Highlights From The 2024 ABA Antitrust Spring Meeting

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    U.S. merger enforcement and cartels figured heavily in this year's American Bar Association spring antitrust meeting, where one key takeaway included news that the Federal Trade Commission's anticipated changes to the Hart-Scott-Rodino form may be less dramatic than many originally feared, say attorneys at Freshfields.

  • What FERC's Disclosure Demands Mean For Cos., Investors

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    Two recent Federal Energy Regulatory Commission orders reflect the commission's increasingly meticulous approach to reviewing corporate structures in applications for approval of proposed consolidations, acquisitions or changes in control — putting the onus on the regulated community to track and comply with ever-more-burdensome disclosure requirements, say attorneys at Willkie.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

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    Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.

  • This Earth Day, Consider How Your Firm Can Go Greener

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    As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.

  • Opinion

    Post-Moelis Del. Corp. Law Proposal Would Hurt Stockholders

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    The proposed Delaware General Corporation Law amendment in response to the Court of Chancery's recent opinion in West Palm Beach Firefighters' Pension Fund v. Moelis would upend the foundational principle of corporate law holding that directors govern corporations in the interest of stockholders — and the potential harm would be substantial, say attorneys at Block & Leviton.

  • Management Incentives May Be Revisited After PE Investment

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    As the economic climate shifts, key parties in private equity investment transactions may become misaligned, and management incentive plans could become ineffective — so attentive boards may wish to caucus with management to evaluate continued alignment, say Austin Lilling and Nida Javaid at Morgan Lewis.

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