Private Equity

  • May 07, 2024

    Ex-Tugboat CEO Can't Reinstate $75M Defamation Verdict

    A Washington state appeals panel won't let the former CEO of boating company Harley Marine Services Inc. reinstate a $75 million defamation verdict against his former business partners, finding that the comments that formed the basis for the verdict are covered under the state's "absolute" litigation privilege.

  • May 07, 2024

    Steward Health Gets Ch. 11 Loan, Says It Plans Hospital Sales

    A Texas bankruptcy judge Tuesday allowed Steward Health Care to take out $75 million in Chapter 11 financing to meet its next-day payroll after being told the hospital chain plans to sell facilities to pay down its $9 billion in debt.

  • May 07, 2024

    DOL Official Says Expect Pension De-Risking Report Soon

    The U.S. Department of Labor's employee benefits chief said Tuesday the agency expects to submit a report to Congress shortly on so-called pension risk transfers, which involve the exchange of defined benefit pension plan liabilities for annuity insurance contracts.

  • May 07, 2024

    Truth Social Investor Grilled By Feds At Insider Trading Trial

    A Florida investment pro on trial for allegedly exploiting confidential plans to take Truth Social public in a $23 million insider trading case was challenged Tuesday by prosecutors on the timing of trades and communications before the "special" media deal.

  • May 07, 2024

    Alight Inks Deal With Activist Starboard For 2 New Directors

    Alight Inc., a cloud-based human capital and technology services provider, said Tuesday it has agreed to appoint two new independent directors to its board through an agreement with activist investor Starboard Value LP. 

  • May 07, 2024

    Fenwick-Led Cloud Security Co. Raises $1B At $12B Valuation

    New York-headquartered cloud security company Wiz, advised by Fenwick & West LLP, announced on Tuesday that it hit a $12 billion valuation after securing $1 billion in its latest fundraising round.

  • May 07, 2024

    WilmerHale Guides Akamai's $450M Buy Of Noname Security

    Cloud company Akamai Technologies Inc., advised by WilmerHale, on Tuesday announced plans to buy Noname Security, an application programming interface security company, for $450 million.

  • May 07, 2024

    Apax Unit Raises €23M From Parent's Sale Of Biz To KKR

    Investment company Apax Global Alpha said Tuesday that it has raised approximately €22.7 million ($24.4 million) from its parent company's sale of India-based medical devices maker Healthium MedTech Ltd. to investment giant KKR & Co. Inc.

  • May 06, 2024

    Judge Trims ESOP Valuation Suit Against Healthcare Co.

    A California federal judge has trimmed a lawsuit against KPC Healthcare Inc., its employee stock ownership plan committee and its investment manager Alerus Financial alleging that a sale of company stock was mismanaged.

  • May 06, 2024

    Bridgewater Fights To Keep Bias Claims Under Wraps

    Connecticut asset management firm Bridgewater Associates LP fought Friday to keep dispute with two terminated employees over alleged discrimination in arbitration, saying the Federal Arbitration Act bans its ex-workers from using state court procedures contrary to private dispute resolution agreements, and from airing grievances in public.

  • May 06, 2024

    SEC Small Biz Panel Urges Relaxed Rules For Crowdfunding

    A U.S. Securities and Exchange Commission advisory committee recommended Monday that regulators raise the threshold at which equity crowdfunding issuers must obtain an independent review of financial statements, hoping to encourage the use of crowdfunding for cash-strapped entrepreneurs.

  • May 06, 2024

    Latham & Watkins, Simpson Thacher Steer Healthcare JV

    Healthcare Realty Trust Inc. and KKR announced on Monday that the two have entered a joint venture to own and invest in quality medical outpatient buildings, in a deal guided by Latham & Watkins LLP and Simpson Thacher & Barlett LLP.

  • May 06, 2024

    Truth Social Backer 'Absolutely' Denies Insider Rap To Jury

    An investment pro told a Manhattan federal jury Monday that he never tipped Florida speculators to a confidential plan to take former President Donald Trump's media concern Truth Social public, taking the stand to fight insider trading charges against him.

  • May 06, 2024

    Catching Up With Delaware's Chancery Court

    A record $100 million settlement, a fishy Facebook decision, a canceled Amazon delivery and an upended $7.3 billion sale dispute topped the news out of Delaware's Court of Chancery last week. There were also new cases involving Hess, Microsoft and the 2022 World Cup.

  • May 06, 2024

    Trump Media Hires Auditor To Replace Firm Accused Of Fraud

    Trump Media and Technology Group Corp. has hired a new auditor, replacing its predecessor firm, which was permanently suspended by securities regulators Friday for alleged "massive fraud" regarding its work with hundreds of clients, according to a filing Monday.

  • May 06, 2024

    Synopsys Selling Software Biz To PE Firms In $2.1B Deal

    Software firm Synopsys Inc. on Monday announced that it is selling its Software Integrity Group business to private equity firms Clearlake Capital Group LP and Francisco Partners for up to $2.1 billion in a deal built by three firms.

  • May 06, 2024

    British National Admits To Coworking Business Ponzi Scheme

    A British citizen pled guilty Friday in Manhattan federal court to participating in a scheme to solicit investments using fraudulent misrepresentations about a coworking company where he was a principal.

  • May 06, 2024

    Private Equity Pro Rejoins Akin In Houston From McDermott

    Akin Gump Strauss Hauer & Feld LLP announced Monday that a Houston-based partner who spent the last couple of years practicing at McDermott Will & Emery LLP has returned, bolstering its private equity practice and deepening its energy sector bench.

  • May 06, 2024

    Orrick Adds 7-Atty M&A Team From Shearman Italian Arm

    The former head of Studio Legale Associato Shearman & Sterling LLP's Italian mergers and acquisitions practice joined Orrick Herrington & Sutcliffe LLP's M&A and private equity team in Milan, the firm announced Monday.

  • May 06, 2024

    Perficient Stock Soars On $3B Buyout By EQT Asia Fund

    St. Louis-based digital consultancy Perficient Inc. said it has agreed to be taken private by an affiliate of Swedish private equity firm EQT's Baring Asia Private Equity Fund VIII at an approximately $3 billion enterprise value, a disclosure that sent Perficient's stock soaring more than 50% on Monday.

  • May 06, 2024

    3 Firms Build $6.2B Take-Private Sale Of Allete Energy Biz

    A consortium of buyers led by the Canada Pension Plan Investment Board and Global Infrastructure Partners unveiled plans Monday to buy and take private Minnesota-based energy company Allete Inc., in a $6.2 billion deal put together by at least three firms.

  • May 06, 2024

    Hospital Chain Steward Health Hits Ch. 11 With Over $1B Debt

    Embattled hospital operator Steward Health Care filed for Chapter 11 protection Monday in a Texas bankruptcy court with more than $1 billion in debt, blaming rising costs and falling government reimbursement rates.

  • May 03, 2024

    HR Biz Kelly Buys Talent Solutions Co. MRP For Up To $485M

    Human resources consulting services company Kelly, guided by Jasso Lopez PLLC, on Friday unveiled plans to buy BakerHostetler-advised Motion Recruitment Partners LLC from Greenwich, Connecticut-based private investment firm Littlejohn & Co. LLC for up to $485 million, marking Kelly's largest-ever acquisition.

  • May 03, 2024

    Chancery OKs Extra Digging Into Trump Media Share Dispute

    The sponsor of a special-purpose acquisition company that took Donald Trump's social media venture public earlier this year won Delaware Court of Chancery approval Friday to briefly dig deeper into disputed share-exchange terms for the deal, with more than $58 million on the line.

  • May 03, 2024

    How Big IP Judgment Winners Are Insuring 'Nuclear Verdicts'

    Until a few years ago, intellectual property plaintiffs who scored large monetary awards — often referred to as "nuclear verdicts" — had to wait out a lengthy appellate process before knowing how much money they would end up with. But a relatively new type of insurance policy is allowing plaintiffs to insure part of their judgment in case it gets reduced or wiped out on appeal. 

Expert Analysis

  • What FERC-PJM Negotiations Mean For The Energy Industry

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    Following the aftermath of Winter Storm Elliot, disputes associated with the PJM Interconnection settlement negotiations taking place at the Federal Energy Regulatory Commission have brought to the fore a potential legal minefield arising out of extreme weather events that could lead to commercial risks for power generating companies, say attorneys at Hogan Lovells.

  • How New Lawyers Can Leverage Feedback For Growth

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    Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.

  • How Reps And Warranties Insurance Can Aid Sellers In M&A

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    Amid the current slowdown in the M&A climate, representation and warranty insurance offers sellers a number of advantages, including protection against fraud and possible leverage to insist on a no-seller-indemnity deal, say Alex Leibowitz and Eric Jesse at Lowenstein Sandler.

  • Series

    ESG Around The World: Australia

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    Clive Cachia and Cathy Ma at K&L Gates detail ESG-reporting policies in Australia and explain how the country is starting to introduce mandatory requirements as ESG performance is increasingly seen as a key investment and corporate differentiator in the fight for global capital.

  • Del. Corporate Law Overhaul Delivers On Flexibility For Cos.

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    Recent amendments to the Delaware General Corporation Law provide needed flexibility to public companies, including by making it easier to effect stock splits or changes to authorized shares, and by streamlining the process to ratify defective corporate acts, say attorneys at Venable.

  • Restructuring Concerns For Distressed De-SPACs

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    Distressed companies struggling to remain viable following a de-SPAC transaction can reduce uncertainty by deleveraging balance sheets, reconfiguring contractual and operational relationships, and creating new opportunities for investors via the pursuit of a prepackaged Chapter 11 reorganization plan, say attorneys at Pillsbury.

  • Info Exchanges Must Stay Inside Now-Invisible Antitrust Lines

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    While the antitrust agencies recently withdrew long-standing enforcement policy statements for being "overly permissive" on information exchanges, we should not assume that all information exchanges are inherently suspect — they are still permissible if carefully constructed and vigorously managed, say attorneys at Nelson Mullins.

  • Private Fund Advisers Should Prep Now For New SEC Rules

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    The U.S. Securities and Exchange Commission's final private fund adviser rules place significant burdens on this group, and despite both modifications to the initial ruleset and litigation challenges, advisers should begin developing practices that could comply with these regulations should any of them take effect, say attorneys at Simpson Thacher.

  • Twitter Legal Fees Suit Offers Crash Course In Billing Ethics

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    X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.

  • Blockchain Tech's Role As A Driver Of M&A Action Evolves

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    Distributed ledger and other blockchain derivative technologies are uniquely positioned to drive M&A activity, and will play a pivotal role in shaping the future of financial and investment landscapes despite the turmoil in the cryptocurrency space, say Louis Lehot and Pat Daugherty at Foley & Lardner.

  • Transaction Risks In Residential Mortgage M&A Due Diligence

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    As the residential mortgage market continues to consolidate due to interest rate increases and low housing volume, buyers and sellers should pay attention to a number of compliance considerations ranging from fair lending laws to employee classification, say attorneys at Mayer Brown.

  • ABA's Money-Laundering Resolution Is A Balancing Act

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    While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.

  • With Equity Markets Down, Venture Lending Provides Solution

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    Given the growth of private debt funds, new entrants in the market and equity markets remaining sluggish, more borrowers are turning to venture debt financing, with long-standing venture funds offering flexibility and expertise without the risks of larger banks, says Jennifer Post at Thompson Coburn.

  • Law Firm Professional Development Steps To Thrive In AI Era

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    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

  • HHS Neuromonitoring Advisory May Have Broad Relevance

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    The Health Department Office of Inspector General's recent advisory opinion rejecting a neuromonitoring service's proposal for a shell arrangement isn't surprising, but it could be a harbinger of more warnings against problematic joint venture arrangements to come, says Mary Kohler at Kohler Health Law.

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