Private Equity

  • September 27, 2024

    Early Trump Media Backer Dumps Shares As Lockup Expires

    An early investor in former President Donald Trump's social media platform has unloaded most of its stake, marking the first divestiture following the expiration of a lockup period that restricted sales after Trump's entity went public earlier this year.

  • September 27, 2024

    'Varsity Blues' Suit Flips The Script On 'Victim' USC

    The University of Southern California could be forced to reveal unseemly details of its admissions process if it can't beat or settle a $75 million suit filed by a private equity executive who blames the school for his being ensnared in the "Varsity Blues" college admissions scandal, experts told Law360.

  • September 27, 2024

    Off The Bench: College Sports Dominates Legal Landscape

    In this week's Off The Bench, the NCAA and the athletes in the big name, image and likeness settlement try to redo the terms to satisfy the overseeing judge, Reggie Bush says his image has been exploited by his alma mater and the NCAA for years, and the Pac-12 claims that it's being strong-armed by a rival conference for coaxing away its teams.

  • September 27, 2024

    Alvarez & Marsal Tax Appoints Former Weil Official

    Alvarez & Marsal's tax affiliate announced it has appointed a former Weil Gotshal & Manges LLP executive as a senior official for the firm's compensation and benefits practice.

  • September 27, 2024

    Life Sciences Firms Energize IPO Market As Recovery Builds

    Initial public offerings are closing the year's third quarter on an upswing, led mostly by pre-revenue drug developers and select large companies that are seizing opportunities in friendlier capital markets buoyed by interest-rate cuts, generating momentum that experts say could carry over into next year.

  • September 27, 2024

    Polsinelli Adds Debt Finance Shareholder In Denver

    Polsinelli PC has boosted its transaction services in Denver with the addition of an attorney specializing in private credit who moved his practice after two years with Michael Best & Friedrich LLP.

  • September 27, 2024

    Chicago Tribune Journalists Say Pay Bias Suit Can Continue

    Chicago Tribune journalists told an Illinois federal court that they supported their claims that the paper and its parent Alden Global Capital paid them less because of their sex and race, urging the court to not engage in a motion to dismiss.

  • September 27, 2024

    Ault Disruptive To Dissolve After Failing To Ink SPAC Deal

    Blank check company Ault Disruptive Technologies Corp. said on Friday that it plans to dissolve and liquidate because it will not be able to complete an initial business combination before Dec. 20.

  • September 27, 2024

    Ill. Justices Won't Hear Baker McKenzie's London Transfer Bid

    Illinois' top court has declined to take on a petition from Chicago-based Baker McKenzie urging the justices to send to London a malpractice suit accusing the firm of botching a client's bid to reacquire a Russian coal mine.

  • September 27, 2024

    Taxation With Representation: Kirkland, Skadden, Cleary

    In this week's Taxation With Representation, Blackstone and Vista Equity Partners acquire Smartsheet Inc., Macquarie Asset Management takes a stake in D.E. Shaw Renewables Investment Group, and Apogee Enterprises Inc. buys UW Interco LLC from Heartwood Partners.

  • September 27, 2024

    Fried Frank-Led StepStone Clinches $7.4B Secondaries Fund

    Private equity shop StepStone Group Inc., advised by Fried Frank Harris Shriver & Jacobson LLP, on Friday announced that it clinched its fifth secondaries opportunities fund and separate related accounts with around $7.4 billion of total investor commitments.

  • September 26, 2024

    SEC Accuses NC Business Owner Of $28M Ponzi-Like Fraud

    The U.S. Securities and Exchange Commission has filed a suit in North Carolina federal court accusing an investment firm owner of defrauding investors through a $28 million Ponzi-like manufacturing debt investment scheme.

  • September 26, 2024

    Obesity Drug Developer Leads 2 Upsized IPOs Totaling $310M

    Obesity-focused drug developer BioAge Labs Inc. gained in debut trading Thursday after raising $198 million through an upsized initial public offering, leading one of two new listings that netted a combined $310 million under the guidance of four law firms.

  • September 26, 2024

    VivoPower Keeps HQ In UK To Qualify For $21B Gov't Program

    Sustainable energy solutions company VivoPower International PLC and hydrogen technology business Future Automotive Solutions and Technologies on Thursday outlined additional terms to their proposed $1.13 billion merger, including settling the combined company's headquarters in the U.K. in order to qualify for potential "significant and attractive" government incentives.

  • September 26, 2024

    Investor Ordered To Deposit $336K In Pot Co. Contract Suit

    A Nevada magistrate judge has ordered Capital Pure Assets Ltd. to deposit $336,000 with the court as part of a dispute with a cannabis payment company's subsidiary over a failed business venture, finding the subsidiary is likely to succeed on its claims that CPA tricked it into putting that amount into an escrow fund.

  • September 26, 2024

    Qualcomm Eyes Massive Buyout Of Intel, Plus Other Rumors

    Qualcomm has approached struggling rival Intel with a takeover offer, Chevron's $53 billion acquisition proposal for Hess is expected to win regulatory clearance, and private Equity Firm BC Partners wants to buy a minority stake in EuroLeague. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • September 26, 2024

    Southwest Airlines Touts Big Changes Amid Activist Pressure

    Southwest Airlines on Thursday revealed a number of developments key to a "transformational" plan meant to drive revenue growth as the airline faces pressure from activist investor Elliott Investment Management, including the appointment of a new director and a $2.5 billion repurchase program.

  • September 26, 2024

    3 Firms Rep As Citi, Apollo Form $25B Private Credit Program

    Banking giant Citigroup and asset management firm Apollo on Thursday unveiled plans to launch a "landmark" $25 billion private credit direct lending program in North America, entering into an exclusive agreement that was guided by three law firms.

  • September 25, 2024

    In-House Counsel To Play Central Role At AI Cos., VCs Say

    Venture capital firms expect in-house counsel at artificial intelligence companies to play a bigger role in their businesses due to regulatory uncertainties around AI, while a professor who helped pioneer the technology warned that transparency of commercial AI businesses should be "top of mind," attorneys heard at the seventh annual Berkeley Law AI Institute Wednesday.

  • September 25, 2024

    Barry Manilow Sued By Hipgnosis Over Sony Royalties

    Music rights heavyweight Hipgnosis has sued Barry Manilow in London for allegedly failing to pay it royalties after Sony Records paid the American singer for his recordings, violating a more than $7.5 million deal that saw Hipgnosis acquire his catalog of 917 songs.

  • September 25, 2024

    UpHealth Wins Most Of $115M Award In Glocal Merger Dispute

    Bankrupt digital health services company UpHealth can enforce a large part of a $115 million arbitral award against the Indian healthcare services platform Glocal in their feud over an ill-fated merger, an Illinois federal judge has ruled.

  • September 25, 2024

    IP Protection Firm's $426M SPAC Merger Is Scrapped

    Intellectual property management firm Zacco Holdings, formerly known as OpSec Group, and blank check company Investcorp Europe Acquisition Corp. I on Wednesday announced that they will be terminating their merger plans.

  • September 25, 2024

    E-Bike Maker Argues In Del. Supreme Court To Salvage Sale

    An attorney for a private equity affiliate that beat a Barcelona-based electric scooter rental chain's attempt to force a closing on the scooter company's $100 million sale in Chancery Court told Delaware's Supreme Court Wednesday that the seller's current appeal ignores its own fatal contract breaches.

  • September 25, 2024

    Cannabis Co., Investor Must Take Contract Suit Back To Court

    A Washington appeals panel has reversed a summary judgment in favor of an investor who alleged that a cannabis grower and seller breached an agreement to buy out his stock following a dispute, saying that while the contract is enforceable, there remain questions about whether that contract was breached.

  • September 25, 2024

    Cancer Detection Biz To Go Public Via $694M SPAC Merger

    Special purpose acquisition company Breeze Holdings Acquisition Corp. on Wednesday announced that it has agreed to merge with and take public clinical-stage biopharmaceutical company YD Biopharma Ltd. in a deal that gives the combined company an estimated enterprise value of $694 million and was built by three firms.

Expert Analysis

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.

  • 9 Considerations For Divestitures, Carveouts And Spinouts

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    Amid new economic optimism, data protection, transitional services and seven other considerations can help legal practitioners untangle complex divestitures, carveouts and spinouts to unlock value for corporate sellers, say Kimberly Petillo-Décossard and Kristen Rohr at White & Case.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

  • Predicting DeFi Regulations At Home And Abroad In 2024

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    Though decentralized finance has advocates on both sides of the Atlantic in figures like U.S. SEC Commissioner Hester Peirce and U.K. Prime Minister Rishi Sunak, DeFi in 2024 seems likely to be folded into existing regulatory frameworks in the U.K. and EU, while anti-crypto scrutiny may discourage DeFi’s growth in the U.S., say Daniel Csefalvay and Eric Martin at BCLP.

  • Planning For Stymied HSR Filings At FTC If Shutdown Occurs

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    If the government were to shut down in early March, the inability to submit Hart-Scott-Rodino filings with the Federal Trade Commission would grind transactions to a halt, and parties should consider numerous implications as they are negotiating or planning to close pending transactions, say attorneys at DLA Piper.

  • Challenges Remain In Financing Energy Transition Minerals

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    COP28, the latest U.N. climate conference, reached a consensus on a just and equitable transition from fossil fuels to renewable energy, but more action and funding will be needed to ensure that developed countries responsibly source the minerals that will be critical for this process, say attorneys at Watson Farley.

  • Loan Transparency Proposals May Bring Some Clarity

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    U.S. banking regulators' proposed revisions to rules that would require banks to disclose more granular information about loans made to nondepository financial institutions would somewhat clarify the size of the fund finance market, though full enlightenment does not look likely in the near future, says Chris van Heerden at Cadwalader.

  • Texas Ruling Clarifies That Bankruptcy Shields LLC Rights

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    A Texas bankruptcy court’s recent ruling in In re: Envision makes it clear that the Bankruptcy Code preempts a section of Delaware state law that terminates a member’s interest in an LLC upon a bankruptcy filing, clarifying conflicting case law, say Larry Halperin and Joon Hong at Chapman and Cutler.

  • Series

    Coaching High School Wrestling Makes Me A Better Lawyer

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    Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.

  • SG's Office Is Case Study To Help Close Legal Gender Gap

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    As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.

  • Navigating New Regulations In Healthcare And Other M&A

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    While notice requirements recently enacted in several states are focused on the healthcare industry for now, this trend could extend to other industries as these requirements are designed to allow regulators to be a step ahead and learn more about a transaction long before it occurs, say Kathleen Premo and Ashley Creech at Epstein Becker.

  • New CMS Rule Will Change Nursing Facility Disclosures

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    A new rule from the Centers for Medicare & Medicaid Services significantly expands disclosure requirements for nursing facilities backed by private equity companies or real estate investment trusts, likely foreshadowing increased oversight that could include more targeted audits, say Janice Davis and Christopher Ronne at Morgan Lewis.

  • Opinion

    3rd-Party Financiers Have Power To Drive Mass Tort Cases

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    The abnormal recovery premium presented by modern mass tort cases coupled with their deemphasized role for attorneys creates an opportunity for third-party financiers to both create and control these cases, says Samir Parikh at Lewis & Clark Law School.

  • Del. Dispatch: Clarification On Fiduciary Duties Of Controllers

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    The Delaware Chancery Court’s January opinion in a Sears Hometown and Outlet Stores' stockholder dispute — holding that a controlling stockholder owes the company and minority shareholders some fiduciary duties when selling shares or voting to change the status quo — suggests instances where investors opposing board decisions should tread carefully, say attorneys at Fried Frank.

  • FTC AI Inquiry Signals Intensified Focus On Emerging Tech

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    The Federal Trade Commission's recent inquiry into investments and partnerships between Big Tech companies and artificial intelligence startups appears to be directed at guiding future enforcement decisions in competition, privacy and consumer protection — and three principles discussed at a related tech summit give insight on the agency's approach, say attorneys at Skadden.

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