Private Equity

July 08, 2024
Morrison Cohen Launches Luxury Brands Practice

Morrison Cohen LLP announced Monday the launch of a luxury brands practice designed to offer more holistic counsel to high-end companies like Valentino, Louis Vuitton, Salvatore Ferragamo and more.
July 08, 2024
Hebbia Raises $130M In Series B Led By Andreessen Horowitz

Tech company Hebbia announced on Monday the completion of a $130 million Series B funding round led by venture capital giant Andreessen Horowitz.
July 08, 2024
Catching Up With Delaware's Chancery Court

Prince's heirs were left standing alone in a cold world last week after Delaware's Court of Chancery found their attempts to gain control of the late musician's estate too demanding. Delaware's court of equity also waved a wand for Walt Disney and slashed nearly $10 million from a damages award for Sears stockholders. In case you missed anything, here's a recap of all the latest news from Delaware's Chancery Court.
July 08, 2024
Linklaters-Led HgCapital Raises £24.3M In Software Biz Exit

British investment company HgCapital said Monday that its private equity arm Hg has agreed to sell its remaining interest in business software provider TeamSystem to U.S. private equity firm Hellman & Friedman, raising approximately £24.3 million ($31 million) for the trust.
July 08, 2024
5 Firms Shape Paramount Global, Skydance Media Merger

Paramount Global will merge with Skydance Media in a two-step transaction steered by five law firms, the companies announced, ending months of negotiations that were the subject of rigorous speculation.
July 05, 2024
UpHealth Says $110M Glocal Award Can Be Enforced

Bankrupt medical tech company UpHealth has urged an Illinois court to enforce a $110 million arbitral award against Indian digital healthcare services platform Glocal Healthcare in a bitter feud over an ill-fated merger, saying the court should reject Glocal's argument that the tribunal exceeded its powers.
July 05, 2024
How Reshaped Circuit Courts Are Faring At The High Court

Seminal rulings from the U.S. Supreme Court's latest term will reshape many facets of American society in the coming years. Already, however, the rulings offer glimpses of how the justices view specific circuit courts, which have themselves been reshaped by an abundance of new judges.
July 05, 2024
Breaking Down The Vote: The High Court Term In Review

The U.S. Supreme Court's lethargic pace of decision-making this term left the justices to issue a slew of highly anticipated and controversial rulings during the term's final week — rulings that put the court's ideological divisions on vivid display. Here, Law360 takes a data dive into the numbers behind this court term.
July 05, 2024
High Court Flexes Muscle To Limit Administrative State

The U.S. Supreme Court's dismantling of a 40-year-old judicial deference doctrine, coupled with rulings stripping federal agencies of certain enforcement powers and exposing them to additional litigation, has established the October 2023 term as likely the most consequential in administrative law history.
July 05, 2024
The Sharpest Dissents From The Supreme Court Term

The U.S. Supreme Court's session ended with a series of blockbuster cases that granted the president broad immunity, changed federal gun policy and kneecapped administrative agencies. And many of the biggest decisions fell along partisan lines.
July 05, 2024
5 Moments That Shaped The Supreme Court's Jan. 6 Decision

When the high court limited the scope of a federal obstruction statute used to charge hundreds of rioters who stormed the Capitol, the justices did not vote along ideological lines. In a year marked by 6-3 splits, what accounts for the departure? Here are some moments from oral arguments that may have swayed the justices.
July 05, 2024
The Funniest Moments Of The Supreme Court's Term

In a U.S. Supreme Court term teeming with serious showdowns, the august air at oral arguments filled with laughter after an attorney mentioned her plastic surgeon and a justice seemed to diss his colleagues, to cite just two of the term's mirthful moments. Here, we look at the funniest moments of the term.
July 05, 2024
Record PE Dry Powder Shows Slowed Exit Activity, Attys Say

Optimism that private equity deal making will take off in 2024 is fading, and while activity has increased, the record amount of dry powder floating around the private equity space signals that fund managers may still be hesitant to transact.
July 05, 2024
2024 Global M&A, Mega-Deal Values Outpacing 2023

Dealmakers and the attorneys who represent them came into 2024 with a sense of cautious optimism about the mergers and acquisitions market.
July 05, 2024
Manufacturing Co., Trustee Can't Escape ESOP Fight

An Arkansas federal judge refused Friday to toss a lawsuit against a manufacturing company and the trustee of its employee stock ownership plan from ESOP participants alleging mismanagement, finding allegations that a $40 million debt-financed purchase of company stock violated federal benefits law should proceed to discovery.
July 05, 2024
The Firms That Won Big At The Supreme Court

This U.S. Supreme Court term featured high-stakes oral arguments on issues including gerrymandering, abortion and federal agency authority, and a hot bench ever more willing to engage in a lengthy back-and-forth with advocates. Here's a look at the law firms that argued the most cases and how they fared.
July 05, 2024
Willkie Advising Saks Fifth Avenue On $2.65B Neiman Deal

Willkie Farr & Gallagher LLP is advising Saks Fifth Avenue's parent company on its freshly inked deal to buy the Neiman Marcus Group, advised by Sullivan & Cromwell LLP, at an enterprise value of $2.65 billion.
July 05, 2024
Cybersecurity Firm Noventiq Kills Plans To List Via SPAC Deal

London-based cybersecurity services provider Noventiq Holdings PLC and blank-check company Corner Growth Acquisition Corp. have canceled their plans to merge in a deal that sought to take Noventiq public in the U.S. at an estimated $1 billion value, citing market conditions.
July 03, 2024
Electric Jet Co. Scoffs At Boeing Bid To Undo $72M IP Verdict

Zunum Aero Inc. said that a federal judge should reject The Boeing Co.'s efforts to cancel a $72 million jury award for misappropriating the electric jet startup's trade secrets, saying evidence presented during a 10-day trial in May amply supports the verdict.
July 03, 2024
Canadian IPO Market Remained Largely 'Deserted' In First Half

Only 12 companies completed initial public offerings on Canadian exchanges in the first half of 2024 — half of which were actual operating businesses — continuing a multiyear decline in new listings for Canada, new data shows.
July 03, 2024
Blackwells Loses Bid To See Disney Books On ValueAct

The Walt Disney Co. does not have to give activist shareholder Blackwells Capital more information about an agreement that Disney made with ValueAct Capital, a Delaware Chancery Court judge ruled Wednesday, finding that Blackwells had "failed to meet its burden to prove a credible basis to suspect wrongdoing."
July 03, 2024
Deals Rumor Mill: Paramount-Skydance, EuroLeague, Hyundai

Skydance closes in on an agreement to buy Paramount, PE firms eye EuroLeague basketball at a potential $1 billion valuation and Hyundai could raise $3.5 billion in its India unit's IPO. Here, Law360 breaks down the notable deal rumors from the past week.
July 03, 2024
Deal Reached In Del. Suit Targeting Gores-Backed UWM SPAC

Architects of a $16 billion special purpose acquisition company merger that took United Wholesale Mortgage public have reportedly agreed to settle a Delaware Chancery Court stockholder suit accusing private equity billionaire Alec Gores and others of misleading investors.
July 03, 2024
Assa Abloy Trying To Rewrite Merger Deal, Gov't Claims

The U.S. Department of Justice fired back at Assa Abloy's bid to rein in a monitoring trustee installed after the company settled a government merger challenge, saying the company is trying to "walk away from its promises to the court" after completing its acquisition of Spectrum Brands' hardware and home improvement business.
July 03, 2024
VC Market Relies On AI Funding To Escape Doldrums

U.S. venture funding rose to its highest quarterly total in more than two years thanks to increased funding for artificial-intelligence focused startups, according to data provider Pitchbook, although capital raising is still far below the boom era of 2021.

Expert Analysis

What The Law Firm Of The Future Will Look Like

As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.
4 PR Pointers When Your Case Is In The News

Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.
Cybersecurity Issues For Financial Industry To Track In 2024

In 2024 financial institutions will confront new federal, state and industry regulations around cybersecurity that require additional procedures, enhanced proactive security measures, and timely disclosure of security incidents, say Alex Koskey and Matt White at Baker Donelson.
5 Recent Developments Family Offices Are Watching In 2024

Although family offices have long been exempt from many of the more onerous regulations and reporting requirements governing U.S. investment advisers and asset managers, recent amendments to federal rules will have an impact on how family offices invest and operate in 2024, say attorneys at Morgan Lewis.
Charting The Course For Digital Assets In 2024

Although 2023 was a tough year for the digital asset industry, upcoming court decisions, legislation and regulatory action will bring clarity, allowing the industry to expand and evolve, and the government will decide what innovation it will allow without challenge, says Joshua Smeltzer at Gray Reed.
Law Firm Strategies For Successfully Navigating 2024 Trends

Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.
The Most-Read Legal Industry Law360 Guest Articles Of 2023

A range of legal industry topics drew readers' attention in Law360's Expert Analysis section this year, from associate retention strategies to ethical billing practices.
Attorneys' Busiest Times Can Be Business Opportunities

Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.
A Difficult Year For CRE, But Future May Be Brighter

2023 was a challenging year for the commercial real estate industry, marked by significant uncertainty, but market pressure and signs of rising interest rates provide some reasons to be cautiously optimistic for the year ahead as pandemic headwinds and gridlock fade away, say attorneys at Ropes & Gray.
In The World Of Legal Ethics, 10 Trends To Note From 2023

Lucian Pera at Adams and Reese and Trisha Rich at Holland & Knight identify the top legal ethics trends from 2023 — including issues related to hot documents, artificial intelligence and cybersecurity — that lawyers should be aware of to put their best foot forward.
What WeWork's Ch. 11 Filing Means For Landlords

WeWork’s recent Chapter 11 filing in New Jersey has the potential to be one of the most consequential cases in the real estate industry in many years, and presents a number of issues for landlords, including unexpired leases, assumption, assignment and more, say attorneys at Mayer Brown.
How Attorneys Can Be More Efficient This Holiday Season

Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.
Understanding Advance Notice Bylaws Is Key For All Parties

Recent developments in Delaware case law show that advance notice bylaws will be strictly construed and that Delaware courts will generally uphold clear, unambiguous bylaws adopted and applied reasonably, a lesson for both companies and stockholders alike as the number of companies rejecting director nominations by dissident stockholders has increased, say attorneys at MoFo.
Series

Children's Book Writing Makes Me A Better Lawyer

Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.
4 Key Ways CFIUS Affected Private Equity In 2023

Sponsors and investment professionals should note how escalated enforcement by the Committee on Foreign Investment in the United States in 2023 affected private equity deal making and evaluate their CFIUS-related procedures in preparation for the regulator's reach to expand further next year, say attorneys at Kirkland.