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Private Equity
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December 11, 2024
Trump Media Fights Stay Of Fla. Suit In Investor Dispute
The company behind Donald Trump's Truth Social platform told a Florida appeals court on Wednesday that a trial court should not have paused its suit against investors in favor of a related dispute in Delaware because the two suits are not substantially similar.
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December 11, 2024
MoFo Adds Group Of 7 Lawyers From Goodwin Procter In NY
Morrison Foerster LLP is expanding its emerging companies and venture capital practice on the East Coast, announcing Wednesday it is bringing in a group of seven lawyers from Goodwin Procter LLP in New York.
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December 11, 2024
Kirkland-Led Patient Square Pays $4.1B For Animal Health Co.
Healthcare-focused private equity firm Patient Square Capital on Wednesday unveiled plans to acquire and take private dental and animal health distributor Patterson Companies Inc. in a $4.1 billion deal built by several law firms.
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December 11, 2024
Bills, Dolphins Are First NFL Teams To Add PE Firm Investors
The Buffalo Bills and Miami Dolphins, represented by Proskauer Rose LLP and Wachtell Lipton Rosen & Katz, on Wednesday became the first two NFL teams to sell minority ownership shares to private equity firms, three and a half months after the football league agreed to allow such investment.
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December 11, 2024
CFPB's Chopra Won't Head For Exit Ahead Of Trump's Arrival
Consumer Financial Protection Bureau Director Rohit Chopra signaled Wednesday that he won't leave his post early unless and until the incoming Trump administration fires him next month, indicating that he plans to keep running the agency in the meantime.
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December 11, 2024
Norton Rose Advises TowerBrook's £283M Deal For Equals
Private equity shop TowerBrook Capital Partners LP said Wednesday that it has made a £283 million ($361 million) recommended cash offer for British financial technology business Equals Group PLC.
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December 10, 2024
UpHealth Says Glocal Execs Stalling On $115M Award Suit
Digital health services company UpHealth has asked an Illinois federal judge to favor its efforts to pin down assets belonging to executives of Indian healthcare firm Glocal as it looks to enforce a $115 million arbitral award, saying the respondents are engaging in "obstructionist" conduct.
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December 10, 2024
Davis Polk Leads Aerospace-Focused PE Firm To $2.2B Fund
Middle-market private equity shop J.F. Lehman & Co., advised by Davis Polk & Wardwell LLP, on Tuesday announced that it clinched its sixth fund after securing $2.23 billion of investor commitments.
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December 10, 2024
Insurer Seeks Exit From Firm's Bid For $2.8M Hack Coverage
A private equity firm's insurer told a Nebraska federal court it owed no coverage for what the firm said was a $2.83 million loss from a hack, maintaining the event didn't meet its policy's definitions of "loss" or claims and fell under a cyber theft exclusion.
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December 10, 2024
Google, TPG To Help Steer $20B Clean Energy Investment
Google and an arm of private equity shop TPG that is focused on solutions to combat climate change revealed plans to partner with clean energy company Intersect Power to invest $20 billion in renewable power infrastructure by the end of the decade, with an initial plug of $800 million announced on Tuesday.
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December 10, 2024
Stellantis, CATL Invest Up To €4.1B For Battery Plant In Spain
Automaker Stellantis announced Tuesday that it has formed a joint venture with Chinese battery maker CATL that sees the two investing up to €4.1 billion ($4.3 billion) to help build a large-scale European lithium iron phosphate battery plant in Spain.
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December 10, 2024
Advent Says Chancery Rulings End Funeral Co. Suit
Private equity firm Advent International told a Boston federal judge that a heated fraud lawsuit tied to its sale of a Mexican funeral business must be dismissed due to rulings from a Delaware judge upholding agreements it entered with the buyer limiting claims related to the transaction.
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December 10, 2024
Soft Landing For Pilot As Billionaire's Insider Case Wraps
A pilot who admitted to dodging taxes on $500,000 in income after he was accused of taking stock tips from Joe Lewis, his billionaire boss, avoided prison on Tuesday at a sentencing that closed a high-profile insider trading prosecution.
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December 10, 2024
Remote Access Co. To Buy British Biz From Carlyle For $720M
German remote connectivity company TeamViewer said Tuesday that it has reached a deal with U.S. investment giant Carlyle Group Inc. to acquire London-based IT firm 1E at an enterprise value of $720 million, in a deal guided by White & Case LLP.
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December 10, 2024
Brookfield Completes £557M Takeover For Tritax EuroBox
Canadian asset manager Brookfield said on Tuesday that it has completed its £557 million ($711 million) bid for Tritax EuroBox to take private the British property investor in the logistics sector.
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December 09, 2024
Trump Media Investors Urge Stay Denial In Del. Suit
Investors in Donald Trump's social media website urged a Delaware Chancery Court to deny a temporary stay brought by the president-elect in order to let Florida litigation play out first, saying presidential immunity doesn't extend to unofficial acts, and the lawsuit can proceed against Trump's affiliates.
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December 09, 2024
$82.5M Cheerleading Antitrust Deal, Atty Fee Gets Final OK
A Tennessee federal judge has granted final approval of an $82.5 million settlement between parents and Varsity Brands in a lawsuit that accused the apparel company of stifling competition and inflating prices, and also allowed $35 million of the award to pay for class counsel's fees.
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December 09, 2024
CFPB Gets Final OK For $950K Student Lender Settlement
A New York federal judge has granted final approval to a $950,000 settlement reached between the Consumer Financial Protection Bureau and an online private student lender and its venture capital backer over claims that they duped borrowers into taking out loans for coding school and other vocational programs with false claims about their educational "return-on-investment."
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December 09, 2024
Apollo, Santander Invest In $370M Infrastructure Portfolio
Private equity giant Apollo and commercial bank Santander on Monday unveiled plans to partner to invest in a $370 million portfolio of infrastructure credit.
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December 09, 2024
Barington And Thor Invest In Macy's, Push For New Direction
Barington Capital Group LP and Thor Equities LLC said Monday they've taken a position in Macy's as they pushed the storied retailer to make strategic changes to help "improve shareholder value," while Macy's acknowledged the development and disclosed it was being counseled by Wachtell Lipton Rosen & Katz on the matter.
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December 09, 2024
Paul Hastings, Paul Weiss Lead $6.7B Pactiv Evergreen Sale
Packaging products maker Novolex, advised by Paul Weiss Rifkind Wharton & Garrison LLP, on Monday announced that it will combine with food merchandising product manufacturer Pactiv Evergreen, led by Paul Hastings LLP, in a $6.7 billion take-private deal that is backed by private equity funds.
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December 09, 2024
Arthur J. Gallagher Buying AssuredPartners For $13.5B
Arthur J. Gallagher & Co. has agreed to purchase independent insurance brokerage AssuredPartners for $13.5 billion in cash, in what its seller, private equity firm GTCR, said will be the largest sale of a U.S. insurance broker to a strategic acquiror in the history of the industry.
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December 09, 2024
CVC Makes €1.2B Bid For Germany's CompuGroup Medical
Private equity giant CVC said Monday that it has made a €1.2 billion ($1.3 billion) offer for CompuGroup Medical that will remove the German e-health company from Germany's bourse.
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December 06, 2024
How Paul Atkins' Last SEC Term Might Shape Agency's Future
President-elect Donald Trump's choice to lead the U.S. Securities and Exchange Commission next year is no stranger to the agency, and Paul Atkins' past speeches, statements and actions as a commissioner may offer a road map for how he would lead the agency in areas such as private funds, shareholder activism and multibillion-dollar enforcement sweeps.
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December 06, 2024
$29.75M Deal Proposed To End Del. Latch Inc. SPAC Suit
Attorneys for investors who bought into Latch Inc.'s Tishman Speyer-led, $1.5 billion take-public deal only to see their shares nosedive have tentatively settled consolidated class damage claims for $29.75 million, according to a Delaware Court of Chancery filing.
Expert Analysis
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Fostering Healthcare Industry Success With Joint Ventures
As the healthcare industry continues to evolve, joint ventures remain a key strategy to unite health systems, private equity firms and physician practices in leveraging their collective strengths to foster innovation and improve patient care, say Carole Becker and Travis Jackson at McDermott.
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Opinion
Judicial Committee Best Venue For Litigation Funding Rules
The Advisory Committee on Civil Rules' recent decision to consider developing a rule for litigation funding disclosure is a welcome development, ensuring that the result will be the product of a thorough, inclusive and deliberative process that appropriately balances all interests, says Stewart Ackerly at Statera Capital.
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The Strategic Advantages Of Appointing A Law Firm CEO
The impact on law firms of the recent CrowdStrike outage underscores that the business of law is no longer merely about providing supplemental support for legal practice — and helps explain why some law firms are appointing dedicated, full-time CEOs to navigate the challenges of the modern legal landscape, says Jennifer Johnson at Calibrate Strategies.
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Series
Beekeeping Makes Me A Better Lawyer
The practice of patent law and beekeeping are not typically associated, but taking care of honeybees has enriched my legal practice by highlighting the importance of hands-on experience, continuous learning, mentorship and more, says David Longo at Oblon McClelland.
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Budding Lessons From Landmark Plant Seed Patent Battle
The Corteva v. Inari case involving intellectual property rights in genetically modified plants is now proceeding through discovery and potentially to trial, and will raise critical questions that could have a major impact on the agriculture technology industry, say Tate Tischner and Andrew Zappia at Troutman Pepper.
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Anticipating Jarkesy's Effect On Bank Agency Enforcement
Following the U.S. Supreme Court’s decision in U.S. Securities and Exchange Commission v. Jarkesy, federal courts may eventually issue decisions on banking law principles and processes that could fundamentally alter the agencies' enforcement action framework, and the relationship between banks and examiners, says Brendan Clegg at Luse Gorman.
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Opinion
Legal Institutions Must Warn Against Phony Election Suits
With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.
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How Cos. Can Build A Strong In-House Pro Bono Program
During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.
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Series
Home Canning Makes Me A Better Lawyer
Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.
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Avoiding Merger Disputes Via Careful LLC Agreement Drafting
The Delaware Court of Chancery recently upheld a merger in a dispute over the process of amending the target's limited liability company agreement, underscoring the importance of understanding the Delaware LLC Act default rules and careful drafting to allow for contractual modifications, says Jane Trueper at Lathrop.
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Opinion
FDIC's Foray Into Index Fund Rules Risks Regulatory Chaos
A proposed Federal Deposit Insurance Corp. rule concerning control over passive index fund investments in banks is outside the agency's remit, clashes with an existing Federal Reserve process and would inhibit competition in the index fund sector, says J.W. Verret at George Mason University.
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Use The Right Kind Of Feedback To Help Gen Z Attorneys
Generation Z associates bring unique perspectives and expectations to the workplace, so it’s imperative that supervising attorneys adapt their feedback approach in order to help young lawyers learn and grow — which is good for law firms, too, says Rachael Bosch at Fringe Professional Development.
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Opinion
Congress Can And Must Enact A Supreme Court Ethics Code
As public confidence in the U.S. Supreme Court dips to historic lows following reports raising conflict of interest concerns, Congress must exercise its constitutional power to enact a mandatory and enforceable code of ethics for the high court, says Muhammad Faridi, president of the New York City Bar Association.
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Series
The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan
Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.