Private Equity

  • August 30, 2024

    Manilow Says IP Biz Didn't Deliver 'Copacabana' TikTok Trend

    Singer Barry Manilow has hit British music royalties outfit Hipgnosis with a California federal court lawsuit alleging he was falsely promised a "Copacabana dance trend" on TikTok, the marketing of a "Copacabana" drink kit and over a million dollars in bonuses. 

  • August 30, 2024

    Favre Cites Palin-NYT In Push To Reverse Defamation Ruling

    Attorneys for former NFL quarterback Brett Favre asked the Fifth Circuit to consider a recent ruling granting Sarah Palin a new libel trial against the New York Times when it considers reviving his case against fellow NFL great turned sports pundit Shannon Sharpe.

  • August 30, 2024

    Off The Bench: NFL Lets PE In, Ex-NBA Pro Denies Agent Deal

    In this week’s Off The Bench, the NFL shakes up its ownership rules and joins the rest of the pro sports world, while a former NBA player says his agency is trying to cling to him after he moved on. In case you were sidelined this week, Law360 is here to catch you up on the sports and betting stories that had our readers talking.

  • August 30, 2024

    Fla. Judge Won't Block Sale Of 18M Truth Social Co. Shares

    A Florida judge on Friday denied a request by Donald Trump's Truth Social to block the sale of 18 million shares by two of the company's co-founders, finding that the company would not be irreparably harmed by having to rely on a damages remedy if the sale goes through.

  • August 30, 2024

    Why The NFL Finally Let Private Equity Onto The Playing Field

    The National Football League took its time approving private equity investment in team ownership, and approached it more conservatively than its pro sports league counterparts, but experts say that ultimately the purchasing power of private equity players couldn't be ignored, and the policy change will lead to significant financial benefits.

  • August 30, 2024

    Cancer Detection Co. Valued At $375M In SPAC Merger

    Blank check company Mountain Crest Acquisition Corp. V, advised by Loeb & Loeb LLP, announced that it has agreed to merge with and take public Korean cancer diagnosis technology company CubeBio Co. Ltd., led by Nelson Mullins Riley & Scarborough LLP, in a deal valued at $375 million.

  • August 30, 2024

    Fall IPO Pickup Could Be A Prelude For 2025 Recovery

    More companies are preparing to go public after Labor Day, signaling a modest increase in initial public offerings that capital markets advisers say could presage a stronger recovery in 2025, assuming next year brings more clarity regarding interest-rate policy and the result of the presidential election.

  • August 29, 2024

    SEC Says PE Firm Ran $3.3M Real Estate Investment Scam

    The U.S. Securities and Exchange Commission has filed a suit in California federal court accusing a private equity firm and its managing partner, who was previously convicted of financial crimes, of fraudulently raising $3.3 million through a Ponzi-like real estate investment scheme.

  • August 29, 2024

    Ex-SPAC Agrees To Face 'Springing Penalty' In SEC Case

    Former blank check company National Energy Services Reunited Corp. has agreed to pay the U.S. Securities and Exchange Commission $400,000, with a potential additional penalty of $1.2 million if it doesn't undertake certain remediation efforts, over alleged financial reporting and controls failures stemming from its acquisition of 2 companies.

  • August 29, 2024

    DLA Piper Steers Tech-Focused SPAC GigCapital's Latest IPO

    GigCapital7 Corp., the latest special-purpose acquisition company led by technology-focused entrepreneur Avi Katz, began trading Thursday after completing a downsized initial public offering that raised $200 million, represented by DLA Piper and underwriters' counsel Lucosky Brookman LLP.

  • August 29, 2024

    Coding Platform Hits Unicorn Status After $150M Fundraise

    Artificial intelligence-powered code acceleration platform Codeium, advised by Wilson Sonsini Goodrich & Rosati PC, on Thursday revealed that it reached unicorn status in less than two years from its inception after closing its latest funding round with $150 million in tow.

  • August 29, 2024

    Deals Rumor Mill: Ackman IPO, Covestro Takeover, Trinitech

    Bill Ackman is reviving plans for an initial public offering of his new closed-end fund, Abu Dhabi National Oil Company is inching closer to launching a takeover of plastics company Covestro, and private equity owners are exploring a $2 billion sale of financial software firm Trintech. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • August 29, 2024

    4 Firms Guide VivoPower Subsidiary's $904M SPAC Merger

    Electric utility vehicle company Tembo E-LV on Thursday announced that it has agreed to merge with special purpose acquisition company Cactus Acquisition Corp. 1 Ltd. in a deal built by four law firms that values the combined business at $904 million.

  • August 29, 2024

    Kirkland Guiding Oneok On $5.9B Energy Infrastructure Deals

    Kirkland & Ellis LLP is guiding Oneok Inc. on agreements to purchase Global Infrastructure Partners' interest in EnLink Midstream LLC for $3.3 billion, and GIP's interest in Medallion Midstream LLC for $2.6 billion, expanding Oneok's energy transport and storage capabilities in the Permian Basin and Gulf Coast, the company said in a statement Thursday. 

  • August 28, 2024

    Cooley, Latham Steer Defense Co.'s $80M VC Funding Round

    Parry Labs announced Wednesday that the Virginia-based defense technology company, represented by Cooley LLP, has raised $80 million in its first institutional investment round fueled by Capitol Meridian Partners, represented by Latham & Watkins LLP, and other venture capital firms.

  • August 28, 2024

    Businessman Can't Force $1B Gramercy Suit Into Arbitration

    A Wyoming federal judge has ruled that Gramercy Funds Management will not have to arbitrate its racketeering lawsuit accusing a Ukrainian businessman of fraudulently transferring more than a billion dollars from his agricultural business, a debtor of the Connecticut-based hedge fund.

  • August 28, 2024

    High Court Told Tyvaso Row Petition Based On 'False' Premise

    A small pharmaceutical startup behind a drug that would compete with the blockbuster high blood pressure treatment Tyvaso says United Therapeutics is making a "fundamentally false" argument to the U.S. Supreme Court about why an appeals court rejected United Therapeutics' case.

  • August 28, 2024

    The NFL-Approved PE Firms That Can Now Invest In Teams

    The NFL made a landmark decision Tuesday to approve private equity ownership of teams, making it the last major North American sports league to bring PE dollars into the mix. It’s not a free-for-all, however; to start, the league selected specific funds that are now allowed to take non-controlling interests in teams. Here, Law360 looks at the approved investment players.

  • August 28, 2024

    Greenberg Traurig Builds PE Team With Kirkland Hires

    Greenberg Traurig LLP has brought on two fund formation partners from Kirkland & Ellis LLP to continue its growth into the private equity space, according to an announcement this week by the firm.

  • August 28, 2024

    Latham Leads Entertainment-Focused SPAC's $150M Offering

    Shares of special purpose acquisition company Black Spade Acquisition II Co., which plans to seek a merger target in the entertainment, lifestyle or technology industries, began trading on the Nasdaq on Wednesday following the company's $150 million initial public offering.

  • August 28, 2024

    John Wood To Sell Siemens JV And US Biz For $165M

    John Wood said Wednesday that it has agreed to sell two of its noncore businesses in two separate deals, including one with Davis Polk & Wardwell LLP-led private equity firm One Equity Partners LP for total proceeds of £165 million ($218 million).

  • August 27, 2024

    Electric Jet Co. Grounds Investor Suit Over SPAC Disclosures

    Investors in German aerospace company Lilium have failed to adequately allege that the company lied about its electric jet production efforts as it went through a $3.3 billion go-public merger with a special purpose acquisition company, a Florida federal judge determined in permanently tossing the suit.

  • August 27, 2024

    Del. Court Nixes Trump Media Contempt Bid In Share Suit

    A Delaware vice chancellor declined on Tuesday to find Donald Trump's social media venture in contempt for suing in Florida to block the release of two Trump Media & Technology Group founders' shares, while the same founders are battling for the stock in the Court of Chancery.

  • August 27, 2024

    4 Firms Build Sixth Street's $250M Industrial REIT Investment

    Sixth Street Partners plans to invest $250 million into Plymouth Industrial REIT through a joint venture and preferred equity deal packaged by four law firms, seeing more opportunities with the real estate investment trust on the horizon, according to an announcement Aug. 27.

  • August 27, 2024

    NFL To Allow PE Ownership, Joining Pro Sports League Peers

    The National Football League's status as the last major North American sports league barring private equity investment in team ownership ended on Tuesday, when the owners approved changes in policy to allow such investment for the first time.

Expert Analysis

  • Series

    Teaching Yoga Makes Me A Better Lawyer

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    Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.

  • A Vision For Economic Clerkships In The Legal System

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    As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.

  • Pay-To-Play Deal Shows Need For Strong Compliance Policies

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    The U.S. Securities and Exchange Commission, through its recent settlement with Wayzata, has indicated that it will continue stringent enforcement of the pay-to-play rule, so investment advisers should ensure strong compliance policies are in place to promptly address potential violations as the November elections approach, say attorneys at WilmerHale.

  • 7 Effects Of DOL Retirement Asset Manager Exemption Rule

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    The recent U.S. Department of Labor amendment to the retirement asset manager exemption delivers several key practical impacts, including the need for managers, as opposed to funds, to register with the DOL, say attorneys at Ropes & Gray.

  • Standardizing Early Case Appraisal In Securities Class Actions

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    While an initial economic assessment of securities class action litigation is far too often not undertaken, it's an important step in planning the defense strategy that can provide counsel, clients and insurers with a much clearer view of the case, and can be simplified through standardized analyses, says Assen Koev at SCA iPortal.

  • Del. Ruling Highlights M&A Deal Adviser Conflict Disclosures

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    The Delaware Supreme Court recently reversed the Court of Chancery's dismissal of challenges to Nordic Capital's acquisition of Inovalon, demonstrating the importance of full disclosure of financial adviser conflicts when a going-private merger seeks business judgment rule review, say attorneys at Debevoise.

  • 8 Legal Issues Influencing Investors In The Creator Economy

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    The rapidly expanding digital creator economy — funding for which more than doubled in the U.S. in the first quarter — comes with its own set of unique legal issues investors must carefully consider before diving in, say Louis Lehot and Alan Pate at Foley & Lardner.

  • E-Discovery Quarterly: Recent Rulings On Text Message Data

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    Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.

  • Dual-Track IPO-M&A Exit Strategies For Life Science Cos.

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    A dual-track process for life sciences companies offers a proven path to securing favorable deal terms for an exit, and strategic moves can include running a crossover financing round in the lead-up, say attorneys at McDermott.

  • PE In The Crosshairs Of Public And Private Antitrust Enforcers

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    A series of decisions from a California federal court in the recently settled Packaged Seafood Products Antitrust Litigation, as well as heightened scrutiny from federal agencies, serve as a reminder that private equity firms may be exposed to liability for alleged anti-competitive conduct by their portfolio companies, say attorneys at Axinn.

  • Series

    Swimming Makes Me A Better Lawyer

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    Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.

  • Mid-2024 FCA Enforcement And Litigation Trends To Watch

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    Reviewing notable False Claims Act trends and enforcement efforts in the last year and a half reveals that healthcare is a key enforcement priority for the U.S. Department of Justice, and the road ahead may bring clarification on Anti-Kickback Statute causation and willfulness standards, along with increased focus on private equity, cybersecurity and self-disclosure, say attorneys at Epstein Becker.

  • A Recipe For Growth Equity Investing In A Slow M&A Market

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    Carl Marcellino at Ropes & Gray discusses the factors bolstering appetite for growth equity fundraising in a depressed M&A market, and walks through the deal terms and other ingredients that set growth equity transactions apart from bread-and-butter venture capital investing.

  • PE-Healthcare Mergers Should Prepare For Challenges

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    State and federal regulators are increasingly imposing new requirements on healthcare transactions involving private equity partners, with mergers that would have drawn little scrutiny a few years ago now requiring a multijurisdictional risk analysis during the deal formation process, say attorneys at Stinson.

  • Don't Use The Same Template For Every Client Alert

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    As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.

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