Private Equity

  • August 15, 2024

    Delaware Judge Sends Tracking Tech IP Dispute To California

    A Delaware federal judge sent a patent infringement suit brought by a company that sells truck driver tracking software to California federal court, questioning in her opinion whether the company "ever fully intended" to pursue its claims in the First State in the first place.

  • August 15, 2024

    Lockheed Martin Buys Satellite Maker In $450M Deal

    Global aerospace and defense company Lockheed Martin, advised by Hogan Lovells LLP, on Thursday unveiled plans to buy satellite maker Terran Orbital, led by Akin Gump Strauss Hauer & Feld LLP, in a deal that boasts an enterprise value of roughly $450 million.

  • August 15, 2024

    Carrier Wraps Strategic Exit Plan With $3B Sale Of Fire Units

    Carrier Global Corp. said Thursday it has inked an agreement to sell its commercial and residential fire units to an affiliate of Lone Star Funds at an enterprise value of $3 billion, completing the company's strategic plan to sell off several business units and focus on its core ventilation business.

  • August 14, 2024

    Synopsys Escapes Exclusivity Breach Suit At Chancery

    Delaware's Chancery Court on Wednesday dismissed private equity firm Sunstone Partners' lawsuit accusing Synopsys Inc. of breaching an exclusivity provision for a potential sale of its security testing services business, saying Sunstone failed to adequately allege Synopsys solicited proposals from other potential buyers.

  • August 14, 2024

    Tuna Price-Fixing Deal Comes With A Catch: $26M In Fish

    Two groups of buyers accusing major canned tuna producers of price-fixing have asked a California federal judge to give the first seal of approval to settlements totaling more than $168 million in cash, plus $26 million in packaged tuna products.

  • August 14, 2024

    Top Stories From Real Estate's Latest Quarterly Updates

    Catch up on the headlines made by the largest public real estate companies during their latest quarterly earnings calls with investors, from data centers and lease deals to market forecasts and casinos. 

  • August 14, 2024

    Class Split Disrupts Hearing On $8.7M Sears Suit Settlement

    A Sears Hometown and Outlet Stores stockholder that saw its share appraisal case tanked by the company's bankruptcy in late 2022 won Court of Chancery clearance Wednesday to intervene with a novel, alternative claim for recovery through a separate, ongoing SHOS class damages suit.

  • August 14, 2024

    Del. Justices Affirm $266M Atty Fee Award In Dell Class Suit

    Delaware's Supreme Court on Wednesday backed a Chancery Court decision awarding an almost record-breaking $266.7 million fee for stockholder attorneys who settled a class action against Dell Technologies Inc. for $1 billion, saying the Chancery "did not exceed its discretion in setting the fee percentage."

  • August 14, 2024

    Boeing Scraps Electric Jet Co.'s $72M Trade Secrets Trial Win

    A Washington federal judge on Wednesday canceled a $72 million jury award against The Boeing Co. for misappropriating electric jet startup Zunum Aero Inc.'s trade secrets, finding Zunum offered "only vague and amorphous descriptions" of the trade secrets at trial.

  • August 14, 2024

    Proskauer-Led PE Firm Closes $800M Tech Fund

    Software-focused private equity shop Resurgens, advised by Proskauer Rose LLP, announced Wednesday it closed a third fund after securing $800 million in investor commitments.

  • August 14, 2024

    Future Claim Question Clouds Chancery Trampoline Park Deal

    A Chancery Court settlement that would assure founding investors in a chain of trampoline parks a fair stake in the company despite a controller's allegedly self-interested loans stopped just short of approval Wednesday, with a vice chancellor seeking assurances that the deal will pass state Supreme Court muster.

  • August 14, 2024

    EU OKs Siemens' $3.8B Sale Of Innomotics To PE Firm KPS

    European Union antitrust enforcers signed off Wednesday on German tech conglomerate Siemens AG's plan to sell its Innomotics large motors and drives unit to New York City-based private equity firm KPS Capital Partners, finding that the deal, with an enterprise value of €3.5 billion ($3.9 billion), poses "limited" overlap concerns.

  • August 14, 2024

    EliseAI Becomes 'Unicorn' After Latest $75M Fundraise

    EliseAI, a conversational artificial-intelligence platform focused on the housing industry, on Wednesday announced it had reached "unicorn" status after the successful close of a $75 million Series D funding round.

  • August 14, 2024

    Squarespace Shareholder Opposes $6.9B Go-Private Deal

    Squarespace Inc. minority shareholder Glazer Capital LLC on Wednesday announced its intent to vote against the company's planned $6.9 billion buyout by private equity giant Permira, saying it has "serious concerns" about the fairness and integrity of the sale process.

  • August 14, 2024

    Skadden, Davis Polk Guide $2.1B US Food Service Deal

    Skadden-led Performance Food Group Co. said Wednesday it has agreed to purchase private equity-backed food service distributor Cheney Bros. Inc., represented by Davis Polk, for $2.1 billion in cash.

  • August 14, 2024

    Brewers Owner Implicated In Fight Over Stolen Beach Sand

    The principal owner of the Milwaukee Brewers has been drawn into a testy dispute accusing one of his companies of stealing public beachfront sand in Malibu, California, and using it to build out a nearby private development.

  • August 13, 2024

    Anesthesia Co. Says FTC Lacks Authority To Bring 'Rollup' Suit

    U.S. Anesthesia Partners has told the Fifth Circuit the Federal Trade Commission lacks authority to bring its case directly in federal court without also filing an administrative case accusing the group of monopolizing the Texas anesthesiology market.

  • August 13, 2024

    FDIC Looks To Dodge Suit Over First Republic Bank's Rent

    The Federal Deposit Insurance Corp. urged a California federal court to toss a suit filed by a California landlord that once leased to First Republic Bank, arguing that federal law bars the suit because the FDIC is the bank's receiver.

  • August 13, 2024

    Tar Sands Firm Strikes SPAC Merger With Integrated Rail

    Tar Sands Holdings II LLC, advised by Holland & Hart LLP, plans to go public following a merger with Winston & Strawn LLP-led special purpose acquisition company Integrated Rail and Resources Acquisition Corp., according to a Monday statement.

  • August 13, 2024

    FTC Makes 2nd Request In Review Of Medical Device Co. Deal

    Medical device company Surmodics Inc. disclosed Monday that federal regulators are taking a closer look at its agreement to be acquired by private equity giant GTCR in a $627 million deal.

  • August 13, 2024

    Baker Botts-Led Drilling Firm Joins September's IPO Pipeline

    Drilling equipment and services provider HMH Holding Inc. has filed for an initial public offering, represented by Baker Botts LLP and underwriters counsel Latham & Watkins LLP, joining a pipeline of potential post-Labor Day IPOs.

  • August 13, 2024

    Paul Weiss-Led CPP Injects $843M Into Tallgrass Energy

    The Canada Pension Plan Investment Board, led by Paul Weiss Rifkind Wharton & Garrison LLP, on Tuesday announced it had plugged roughly $843 million into private equity-owned energy infrastructure company Tallgrass Energy.

  • August 13, 2024

    Australia's Orora Rejects $2.2B Lone Star Buyout Bid

    Australia's Orora Ltd. said Tuesday it has rejected a buyout offer from Dallas-based private equity firm Lone Star Funds, stating that the offer of more than $2.2 billion undervalues the packaging company. 

  • August 13, 2024

    3 Firms Drive $3.8B Carlyle-Baxter Kidney Care Deal

    Kirkland & Ellis LLP-led private equity firm Carlyle on Tuesday agreed to acquire the kidney care unit of Baxter International Inc., represented by Sullivan & Cromwell LLP and Baker McKenzie, for $3.8 billion, Baxter said in a statement Tuesday.

  • August 12, 2024

    PE Firms Aim To Escape RICO Suit Over Inadequate Claims

    Investment firms Advantage Capital Holdings and 777 Partners separately have asked a federal judge in New York to toss a Racketeer Influenced and Corrupt Organizations suit whose allegations include fraud, saying the plaintiff failed to sufficiently plead its claims.

Expert Analysis

  • Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?

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    A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.

  • Why The SEC Is Targeting Short-And-Distort Schemes

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    The U.S. Securities and Exchange Commission's recent crackdown on the illegal practice of short-and-distort trades highlights the urgent need for public companies to adopt proactive measures, including pursuing private rights of action, say attorneys at Baker McKenzie.

  • Series

    Playing Dungeons & Dragons Makes Me A Better Lawyer

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    Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.

  • 3 Leadership Practices For A More Supportive Firm Culture

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    Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.

  • E-Discovery Quarterly: Rulings On Hyperlinked Documents

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    Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.

  • Loper Bright Limits Federal Agencies' Ability To Alter Course

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    The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.

  • 2nd Circ. Case Reinforces Need For Advance Notice Bylaws

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    The Second Circuit's recent decision in Nano Dimension v. Murchinson illustrates that Section 13(d) of the Exchange Act is a square peg for a round hole, and that advance notice bylaws are far better at protecting against undisclosed coordination among activist shareholders, say attorneys at Morgan Lewis.

  • Series

    Teaching Scuba Diving Makes Me A Better Lawyer

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    As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • PE Firms Should Prepare For Increased False Claims Scrutiny

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    The impact private equity firms may have over medical decisions and care is increasingly attracting potential liability under the False Claims Act and attention from states and the federal government, so investors should follow best practices including conducting due diligence both before and after acquisitions, say attorneys at K&L Gates.

  • Series

    A Day In The In-House Life: Block CLO Talks Problem-Solving

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    Amid the busy summer months, Block Inc. Chief Legal Officer Chrysty Esperanza chronicles a typical Wednesday where she conquered everything from unexpected fintech regulatory issues and team building to Bay Area commutes and school drop-off.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • FTC Focus: Private Equity Investments In Healthcare

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    As the Federal Trade Commission is tightening its scrutiny of private equity investment in healthcare, the agency is finding novel grounds to challenge key focus areas, including rollup acquisitions, the flip-and-strip approach and minority investments in rival providers, say attorneys at Proskauer.

  • Jarkesy's Impact On SEC Enforcement Will Be Modest

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    Though the U.S. Supreme Court’s recent U.S. Securities and Exchange Commission v. Jarkesy decision found that fraud defendants have a constitutional right to a jury trial, the ruling will have muted impact on the agency’s enforcement because it’s already bringing most of its cases in federal court, say Jeremiah Williams and Alyssa Fixsen at Ropes & Gray.

  • Series

    Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

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