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Private Equity
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November 08, 2024
Experienced Dealmakers Lead 3 SPACs Raising $365M Total
Three special purpose acquisition companies began trading Friday after pricing initial public offerings that raised $365 million combined under guidance from four law firms, marking the latest sign that more SPACs, particularly those with prior deals under their belts, are willing to test an improving market.
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November 08, 2024
General Atlantic, Stripes Plug $825M Into Vuori Clothing Biz
Lifestyle performance brand Vuori on Friday revealed that it has secured an $825 million investment led by growth investors General Atlantic, advised by Paul Weiss Rifkind Wharton & Garrison LLP, and Weil Gotshal & Manges LLP-advised Stripes, bumping the brand's valuation to $5.5 billion.
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November 08, 2024
Katten Adds Private Credit Partner From Weil In NY
Katten Muchin Rosenman LLP has added a former Weil Gotshal & Manges LLP banking and finance counsel, who joined the team in New York as a private credit partner.
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November 08, 2024
Apollo Gets Extension To Make £1B Offer For Auto-Parts Biz
Auto parts supplier TI Fluid Systems said Friday that Britain's mergers and acquisitions authority has granted a company backed by private equity giant Apollo more time to make it a firm offer worth approximately £995 million ($1.3 billion).
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November 07, 2024
JPMorgan Sues Adviser Who Jumped To Morgan Stanley
The broker-dealer arm of JPMorgan has accused a former Michigan-based employee of using its confidential information to lure its customers at her new job at Morgan Stanley's wealth management unit, including a half a dozen clients with nearly $12 million in combined assets who have already jumped ship from JPMorgan.
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November 07, 2024
Investors Accuse Truth Social SPAC's Ex-CEO Of Stock Theft
The former CEO of the special purpose acquisition company that combined with Donald Trump's Truth Social company has been accused of stealing millions of SPAC shares by funneling them to offshore shell entities and misappropriating investments to fund his "lavish" Miami lifestyle.
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November 07, 2024
LeBron Eyes Media Merger, AI Startup IPO, And More Rumors
Basketball star LeBron James wants to merge his TV and film production company with a British studio, while AI-focused startup CoreWeave has selected investment banks to manage an initial public offering planned for 2025, plus a women's clothing retailer and a generic-drug maker are planning a pair of listings that could revive Canada's dormant IPO market.
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November 07, 2024
Lynk Global Taps New Execs Amid Deal With A-Rod's SPAC
Lynk Global Inc., the satellite-to-phone business merging with the blank-check company of former New York Yankees star Alex Rodriguez, on Thursday revealed that it has picked a new CEO and CFO while securing capital investments from shareholders.
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November 07, 2024
CMA Raises Concerns Over Amex GBT's $570M Buy Of Rival
The proposed $570 million acquisition by American Express Global Business Travel Inc., a corporate travel management company, of rival CWT Holdings LLC in the U.K. could "lead to reduced choice and quality" in Britain, the antitrust watchdog has warned.
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November 06, 2024
Trump's SEC Expected To See 'Dramatic' Enforcement Change
Former President Donald Trump's reelection means a notable shift in the types of cases the U.S. Securities and Exchange Commission is expected to bring, attorneys said Wednesday at a Washington, D.C., conference, while the agency's current top enforcer vowed business as usual for now as it carries on with its well over 1,500 investigations.
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November 06, 2024
Trump's Win Likely To Spur Deals For Capital Markets Attys
Former President Donald Trump's decisive win in Tuesday's presidential election will enable deals to proceed on a more certain basis, capital markets advisers said Wednesday, citing pent-up demand to restart capital raising after a long period of subdued activity.
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November 06, 2024
10th Circ. Backs Asset Freeze In Forex Exec's Latest Bid
A foreign exchange asset manager lost his bid to overturn a lower court's decision that froze his assets and ordered him to pay $510,000 in legal bills in a dispute with the U.S. Securities and Exchange Commission, with a panel of the 10th Circuit finding it does not have jurisdiction to reverse the ruling.
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November 06, 2024
5 Firms Guide $4.6B Cencora-Retina Consultants Deal
Freshfields, Sidley Austin LLP and Morgan Lewis & Bockius LLP are guiding Cencora Inc. on an agreement to acquire Retina Consultants of America from Webster Equity Partners for $4.6 billion in cash, Cencora said Wednesday.
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November 06, 2024
McGuireWoods-Led Teledyne Pays $710M For Defense Assets
Led by McGuireWoods LLP, Teledyne Technologies Inc. said Wednesday it will buy certain aerospace and defense electronics businesses from Excelitas Technologies Corp., guided by Fried Frank Harris Shriver & Jacobson LLP, for $710 million in cash.
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November 06, 2024
Kirkland Investment Funds Partner Joins Alston & Bird In NY
Alston & Bird LLP announced that a Kirkland & Ellis LLP investment funds attorney has joined the firm's New York office as a partner, which it said helps enhance its capabilities in areas such as fund formation and operational support.
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November 06, 2024
Nano Dimension Targeted By Activist Investor Murchinson
Nano Dimension shareholder Murchinson Ltd. has nominated two independent candidates to stand for election to the Israeli 3D printing company's board while slamming the current board for its inability to hold CEO Yoav Stern accountable, saying that it's time to address the company's "persistent undervaluation, improve its allocation of capital and fix a broken boardroom culture."
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November 06, 2024
Simpson, Clifford Chance Build $4B Blackstone Deal For REIT
Blackstone announced Wednesday it will pay $4 billion to acquire grocery store-focused real estate investment trust Retail Opportunities Investment Corp., in a deal built by respective legal advisers Simpson Thacher & Bartlett LLP and Clifford Chance US LLP.
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November 05, 2024
What Trump's Return Means For Bank Regulation: 5 Questions
With former President Donald Trump now projected to return to the White House, financial services attorneys are predicting the banking industry will see a sharp rightward turn at the Consumer Financial Protection Bureau and a much softer touch elsewhere in the federal regulatory arena.
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November 05, 2024
Trump's Win Expected To Pare Back Gensler's SEC Agenda
The reelection of President Donald Trump will bring with it many big changes to the U.S. Securities and Exchange Commission, including a new chair who could set a more crypto- and business-friendly policy that would translate into a downtick in rulemaking and enforcement cases in comparison to outgoing President Joe Biden.
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November 05, 2024
Trump Has Official Immunity. What About His Aides?
Whether the U.S. Supreme Court's decision on presidential immunity extends to subordinates who follow a president's orders has become a more pressing question in the wake of Donald Trump's projected election win, according to legal experts.
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November 05, 2024
How Trump Can Quash His Criminal Cases
Donald Trump's projected victory at the polls also translates to a win in the courts, as the second-term president will have the power to end both of his federal criminal cases. And the U.S. Supreme Court's decision on presidential immunity would shield him from any consequences for ordering his charges to be dismissed, experts say.
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November 05, 2024
An Early Look At Trump's Supreme Court Shortlist
With former President Donald Trump projected to win the 2024 presidential election and the Republicans' success in securing the U.S. Senate majority, Trump may now get the chance to appoint two more justices to the U.S. Supreme Court, cementing the court's conservative tilt for decades to come.
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November 05, 2024
GOP's Senate Win Hands Future Of The Judiciary To Trump
Republicans were projected to take back the White House and Senate and possibly the House early Wednesday, putting the GOP in position to back Donald Trump's agenda and his slate of young, conservative judicial nominees.
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November 05, 2024
The Firms With An Inside Track To A New Trump Admin
Law firms that have represented Donald Trump and the Republican Party on everything from personal legal woes to election-related lawsuits could see the risks of that work pay dividends as Trump is projected to secure a second term in office.
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November 05, 2024
Trump Media Reports $19M Quarterly Loss On Election Day
The parent of projected Republican presidential winner Donald Trump's social media platform reported a $19.2 million quarterly loss in an Election Day filing Tuesday, the same day trading of its shares were halted three times because of volatility.
Expert Analysis
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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After Chevron
Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 37 different rulemaking and litigation areas.
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Navigating Scrutiny Of Friendly Professional Corps. In Calif.
In light of ongoing scrutiny and challenges to private equity participation in the California healthcare marketplace, particularly surrounding the use of the friendly professional corporation model, management services organizations should consider implementing four best practices, say attorneys at Holland & Knight.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Proposed Customer ID Rule Could Cost Investment Advisers
A rule recently proposed by FinCEN and the U.S. Securities and Exchange Commission to make financial advisers collect more customer information parallels an anti-money laundering and counterterrorism rule proposed this spring, but firms may face new compliance costs when implementing these screening programs, say attorneys at Lowenstein Sandler.
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What 2 Rulings On Standing Mean For DEI Litigation
Recent federal court decisions in the Fearless Fund and Hello Alice cases shed new light on the ongoing wave of challenges to diversity, equity and inclusion initiatives, with opposite conclusions on whether the plaintiffs had standing to sue, say attorneys at Moore & Van Allen.
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Series
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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Arbitration Implications Of High Court Coinbase Ruling
The U.S. Supreme Court's recent Coinbase v. Suski ruling not only reaffirmed the long-standing principle that arbitration is a matter of contract, but also established new and more general principles concerning the courts' jurisdiction to decide challenges to delegation clauses and the severability rule, say Tamar Meshel at the University of Alberta.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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The Current State Of Healthcare Transaction Reviews In Calif.
As of April, certain healthcare transactions in California have been subject to additional notification compliance requirements, and complying with these new rules could significantly delay and discourage some deals, says Andrew Demetriou at Husch Blackwell.
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Practical Private Equity Lessons From 2 Delaware Deals
A pair of Delaware Chancery Court cases remind private equity sponsors that specificity is crucial through the lens of deal certainty, particularly around closing conditions and agreement sections of acquisition agreements, say Robert Rizzo and Larissa Lucas at Weil Gotshal and William Lafferty at Morris Nichols.
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Recruitment Trends In Emerging Law Firm Frontiers
BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.
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Series
Glassblowing Makes Me A Better Lawyer
I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.
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What 11th Circ. Fearless Fund Ruling Means For DEI In Courts
The Eleventh Circuit's recent backing of a freeze on the Fearless Fund's grants to women of color building new companies marks the latest major development in litigation related to diversity, equity and inclusion and may be used to question other DEI programs targeted at providing opportunities to certain classes of individuals, say attorneys at Simpson Thacher.