Private Equity

  • April 16, 2024

    Latham Adds 2 Simpson Thacher Attys To Its NY Office

    Latham & Watkins LLP has added two attorneys from Simpson Thacher & Bartlett LLP for its New York office, one of whom joins as co-chair of its global hybrid capital practice.

  • April 16, 2024

    Cooley-Led Data Security Firm Rubrik Eyes $679M IPO

    Venture-backed data security firm Rubrik Inc. on Tuesday launched plans for an estimated $679 million initial public offering, hoping to capitalize on an upturn in technology listings.

  • April 15, 2024

    Trump Media Files To Register More Shares For Potential Sale

    The newly public owner of former President Trump's social media platform Truth Social filed paperwork on Monday to issue an additional 21.5 million shares and register for resale about 146 million existing shares, including a large stake owned by Trump.

  • April 15, 2024

    SEC Fines Adviser $60K Over Alleged Pay-To-Play Violations

    The U.S. Securities and Exchange Commission announced Monday that a Minnesota-based investment advisory firm will pay $60,000 to settle allegations it violated the commission's pay-to-play rule, which prohibits investment advisers from providing services to government-related clients for two years following a political campaign contribution.

  • April 15, 2024

    Youth Sports Investment Group Bags Soccer, Baseball Cos.

    Unrivaled Sports, a youth sports-focused investment group led by the owner of the NFL's Washington Commanders, NBA's Philadelphia 76ers and NHL's New Jersey Devils, is quickly building its portfolio since launching last month, with two acquisitions announced Monday and last week.

  • April 15, 2024

    Cleary Gottlieb Guides APi's $570M Elevator Repair Co. Buy

    Cleary Gottlieb Steen & Hamilton LLP-represented APi Group, which owns contracting businesses serving industries like energy and construction, announced Monday that it has bought an elevator maintenance company in a $570 million cash deal.

  • April 15, 2024

    UK Trading Platform Marex Eyes US Markets For $300M IPO

    Private equity-backed U.K. trading platform Marex Group PLC launched plans Monday for an estimated $300 million initial public offering, represented by Latham & Watkins LLP and underwriters' counsel Kirkland & Ellis LLP, becoming the latest U.K.-area firm to seek capital from U.S. markets.

  • April 15, 2024

    Catching Up With Delaware's Chancery Court

    Last week, Delaware justices mulled whether one Chancery Court vice chancellor properly voided four company bylaws — just as another vice chancellor voided one more. Fights among Truth Social investors continued, and shareholders launched new cases involving Macy's, United Airlines, and Clayton Dubilier & Rice LLC and Stone Point Capital LLC.

  • April 15, 2024

    Bond Co. Asks For Life-Saving Pause On $811M Fine

    Immigration bonding company Libre by Nexus Inc. has begged a Virginia federal court for more time to pay an $811 million judgment for predatory bonding practices, saying it would collapse if forced to pay before it can execute its transfer to a new owner.

  • April 15, 2024

    Clearlake Increases Blackbaud Takeover Bid To $4.3B

    Private equity shop Clearlake Capital has upped its offer to purchase Blackbaud Inc. by roughly $500 million — bringing its proposal to around $4.3 billion — after the cloud computing software company rejected its previous buyout bid, with the firm saying the take-private deal would be the "clearest path" to maximizing shareholder value.

  • April 15, 2024

    Freshfields-Led CVC Plans €1.25B IPO In Amsterdam

    Private equity giant CVC said Monday that it is planning to list its shares in Amsterdam and raise at least €1.25 billion ($1.3 billion) in a widely anticipated initial public offering guided by Freshfields Bruckhaus Deringer LLP.

  • April 15, 2024

    Simpson Thacher, Willkie Build $1.4B Sale Of Snap One

    Willkie Farr & Gallagher LLP-advised Resideo Technologies Inc. on Monday announced plans to buy smart-living products provider Snap One Holdings Corp., led by Simpson Thacher & Bartlett LLP, for $1.4 billion, which will be supported by a $500 million investment from private equity giant Clayton Dubilier & Rice LLC.

  • April 12, 2024

    Jane Street Says Millennium, Ex-Workers Stole Trade Secrets

    Trading firm Jane Street Group LLC sued rival Millennium Management LLC and two former employees in New York federal court Friday, alleging they stole a confidential trading strategy and have reaped "massive profits from this theft."

  • April 12, 2024

    S. Korea Must Pay Mason $32M In Samsung Merger Fight

    An international tribunal ordered South Korea to pay Mason Capital Management LLC $32 million in a long-running investor-state suit filed by the New York-based hedge fund over the 2015 merger of two Samsung affiliates, according to the South Korea Ministry of Justice.

  • April 12, 2024

    Ex-Biotech CEO Gets 7 Years In Fake COVID Test Case

    A former biotech CEO accused of defrauding investors by touting a phony rapid finger-prick COVID test was sentenced to seven years in prison in D.C. federal court Friday.

  • April 12, 2024

    Peru Says Gramercy's $100M Bond Arbitration Bid Too Late

    Peru is hitting back at Connecticut-based hedge fund Gramercy's bid to enforce a $100 million arbitral award that it secured over the country's valuation of old government bonds, telling a D.C. federal court that the investor had failed to bring its challenge within three years of learning of the alleged misconduct as required by a bilateral trade agreement. 

  • April 12, 2024

    Capital Recruiter Awarded $7.8M In Back Fees In Breach Suit

    An Atlanta-area capital recruiting firm is owed more than $7.8 million in lost commissions from a former financial technology client that violated its agreement to pay the recruiter to connect it with investors, according to a verdict from a Georgia federal jury.

  • April 12, 2024

    Lionsgate Ups PIPE To $225M Before $4.6B SPAC Merger

    Entertainment and production giant Lionsgate on Friday is raising the amount of its private investment in public equity related to its planned $4.6 billion merger with special purpose acquisition company Screaming Eagle Acquisition Corp. to $225 million, according to a filing with the U.S. Securities and Exchange Commission.

  • April 12, 2024

    Off The Bench: Ohtani 'Victim' In Theft, Arbitration Nod To NFL

    In this week's Off The Bench, Shohei Ohtani looks to get off the hook on sports-betting allegations while his former interpreter faces charges, the NFL wins a critical court victory in the Brian Flores lawsuit, and troubled WWE founder Vince McMahon cuts even more financial ties with the company.

  • April 12, 2024

    HomeStreet Hit With Shareholders Suit Over FirstSun Merger

    Banking company HomeStreet Inc. has been hit with a proposed class action alleging that it failed to disclose details about the sale process of its merger with FirstSun Capital Bancorp., saying that the company entered into the agreement with "little to no consideration" to any of its shareholders.

  • April 12, 2024

    Hornblower Gets OK For Creditor Vote On Ch. 11 Plan

    A Texas bankruptcy judge on Friday sent Hornblower Holdings' Chapter 11 plan out for a creditor vote after hearing the cruise and tour operator had resolved creditor objections to its plan disclosure statement.

  • April 11, 2024

    Wash. Justices Side With EB-5 Firm Over Arbitration Award

    Washington's high court ruled on Thursday that the payment of an arbitration award does not resolve a case seeking to confirm that award, standing by a lower court's decision to enter a confirmation order on an investment firm's $11.5 million win against a beleaguered developer over missed payments on a loan.

  • April 11, 2024

    Flopped Casino SPAC Investor Sues In Del. To Block Payout

    An investor in a special purpose acquisition company that made a doomed, $2.7 billion effort to buy a casino in the Philippines has asked Delaware's Court of Chancery to prevent the SPAC from redeeming its outstanding shares, arguing it would violate Delaware law because the SPAC is insolvent.

  • April 11, 2024

    Canadian Trucking Co. Needs More Time For US DIP Approval

    At a hearing Thursday in Delaware bankruptcy court, Canadian trucking company Pride Group was unable to reach an agreement on provisional approval of its debtor-in-possession facility that received the go-ahead in Canadian court, as the U.S. Trustee warned of the expanding scope of Chapter 15 provisional relief hearings.

  • April 11, 2024

    Dallas Developers Must Each Pay Bond In $400M Foreclosure

    A Texas appeals court on Thursday ordered developers to cough up more money as they appeal a ruling in a roughly $400 million foreclosure case involving an upscale residential tower in Dallas, saying that each of the debtors needed to file a bond as the case works its way through appeals.

Expert Analysis

  • FERC Actions Signal Concern Over Investors' Utility Stakes

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    Two recent orders and a notice of inquiry from the Federal Energy Regulatory Commission on the subject of whether large investors are asserting control of public utilities signal increasing regulatory scrutiny of the investment community's influence over the electric power industry, say attorneys at Day Pitney.

  • 3 Areas Of Focus In Congressional Crosshairs This Year

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    Companies must prepare for Congress to build on its 2023 oversight priorities this year, continuing its vigorous inquiries into Chinese company-related investments, workplace safety and labor relations issues, and generative artificial intelligence, say attorneys at Morgan Lewis.

  • 10 Global Antitrust Trends To Anticipate In 2024

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    Proactive navigation of the antitrust enforcement environment remains crucial this year as legal policy and tools evolve to meet intensifying global economic complexity, including geopolitical tensions, trade realignment, market volatility and inflation, say attorneys at Freshfields.

  • NY CRE Lenders Need Clarity On Foreclosure Standing

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    Recent contradictory New York case law regarding issues of standing in commercial real estate litigation creates confusion for borrowers and lenders alike, and should be addressed by courts in advance of the anticipated onslaught of commercial mortgage-backed securities foreclosures, say Christopher Gorman and John Muldoon at Rosenberg & Estis.

  • Series

    Baking Bread Makes Me A Better Lawyer

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    After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.

  • Federal Courts And AI Standing Orders: Safety Or Overkill?

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    Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.

  • Wachtell-X Ruling Highlights Trend On Arbitrability Question

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    A growing body of case law, including a California state court's recent decision in X Corp. v. Wachtell, holds that incorporation of specific arbitral body rules in an arbitration provision may in and of itself constitute clear and unmistakable evidence of delegation of arbitrability to an arbitrator, and thus such clauses should be drafted carefully, say attorneys at Norton Rose.

  • 7 E-Discovery Predictions For 2024 And Beyond

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    The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.

  • Adjusting Deals To Reflect Shifts In The CRE Market

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    As the commercial real estate market strengthens and moves out from a challenging time, industry participants should consider any concessions made due to recent trends and update transaction documents accordingly before entering into new deals, says Alexander Davis at Mayer Brown.

  • Opinion

    Conflicts Abound When Activist Short-Sellers Publish Reports

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    The self-serving relationship between activist short-sellers and plaintiff-side litigators is conflict-ridden and hinders the fact finder's impartiality when a short report forms the basis for lead plaintiffs' allegations, say Nessim Mezrahi and Stephen Sigrist at SAR.

  • Financing Healthcare Deals In Uncertain Markets This Year

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    As challenges to closing and financing new deals prevail into 2024, lenders in new healthcare transactions are talking about alternative approaches for sponsors to consider, such as private credit alternatives and utilization of junior capital, say attorneys at McDermott.

  • 5 Litigation Funding Trends To Note In 2024

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    Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.

  • Bank-Fintech Partnerships Can Thrive Despite A Tough 2023

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    Many banking-as-a-service players experienced regulatory enforcement activities in 2023, including consent orders and more targeted, detailed guidance aimed at bank-fintech partnerships, and while it seems this trend will continue in 2024, savvy banks can use the turmoil of last year as a guide for how to better manage the risks inherent in partnerships, says Justin Steffen at Barack Ferrazzano.

  • Series

    ESG Around The World: South Africa

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    While South Africa has yet to mandate the reporting of nonfinancial and environmental, social, and corporate governance issues, policy documents and recent legislative developments are likely to have a material impact in the country's transition to a low-carbon economy and in meeting its international obligations, say Glynn Kent at Eversheds Sutherland.

  • 4 Legal Ethics Considerations For The New Year

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    As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.

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