Top Stories

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  2nd Circ. Hints Bankman-Fried's $11B Forfeiture Is Overkill

  By Elliot Weld

  The Second Circuit suggested Tuesday that the government's $11 billion forfeiture order against Sam Bankman-Frie...(read more)

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  5 Firms Steer Denny's $620M Go-Private Deal

  By Al Barbarino

  At least five law firms are helping to steer Denny's Corp.'s new agreement for the diner chain operator to go pr...(read more)

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• Mass. Attys Split As Punitive Damages Rules Go To Top Court

  By Chris Villani

  A case before Massachusetts' top appellate court over whether more safeguards are needed to cap runaway punitive damage awards has divided attorneys, with some saying the big-dollar verdicts can be skewed by improper evidence and others calling the matter a solution in search of a problem.

• DC Circ. Backs DOE's Tougher Furnace Efficiency Rules

  By Keith Goldberg

  The D.C. Circuit on Tuesday upheld the U.S. Department of Energy's tighter energy efficiency standards for furnaces and water heaters, rejecting arguments from gas utility and industry groups that the rules unlawfully force an expensive switch to new appliances.

• Judge To Allow Crypto Landlord To Begin Evictions In Detroit

  By Carolyn Muyskens

  A Detroit judge said Tuesday she will modify her court order barring a cryptocurrency real estate investment company from collecting rent to make clear its tenants must, in the meantime, pay their rent into escrow accounts held by the city of Detroit — and allow evictions of tenants who fail to do so.

• Prudential Financial Will Pay $4.75M To End Data Breach Case

  By Carla Baranauckas

  Prudential Financial Inc. agreed to pay $4.75 million to end a class claim alleging it failed to protect its clients' personal information after it acknowledged that its systems were compromised in a February hacking incident, according to a memorandum filed in New Jersey federal court.

• 3 Firms Steer $1.45B Sale Of TriMas Aerospace

  By Jade Martinez-Pogue

  Engineered products maker TriMas, advised by Jones Day, on Tuesday announced that it has agreed to sell its aerospace business to Goodwin Procter LLP-advised capital markets firm Tinicum LP in a $1.45 billion all-cash deal.

• Confirmation Ends Dem-Appointed Judges' Lock On 1st Circ.

  By Courtney Bublé

  The Senate voted 52-46 on Tuesday to confirm Joshua D. Dunlap, a partner at Pierce Atwood LLP, to the First Circuit.

• Pfizer Can't Freeze $9B Weight-Loss Drug Fight For Now

  By Jarek Rutz

  A Delaware vice chancellor on Tuesday declined for the moment Pfizer Inc.'s emergency request to put Novo Nordisk's $9 billion bid for Montsera Inc. on hold, saying the time isn't yet at hand for the court's intervention in a fight for control of the developer of GLP-1 weight-loss drugs.

• StraightPath Founders Convicted Of Massive Stock-Sale Fraud

  By Pete Brush

  A Manhattan federal jury found stock vendor StraightPath's three founders guilty Tuesday on charges of defrauding clients who purchased pre-initial public offering shares from them, capping a trial where prosecutors cited "overwhelming" evidence of a $400 million "web of lies."

• 2 Firms Advise CBRE's $1.2B Pearce Services Deal

  By Grace Dixon

  Real estate services firm CBRE Group Inc. announced Tuesday that it acquired Pearce Services LLC, a service provider for electromechanical infrastructure in North America, from New Mountain Capital in a $1.2 billion deal guided by Sullivan & Cromwell LLP and Ropes & Gray LLP.

• Kirkland, Davis Polk Steer Aircraft Maker Beta's $1B IPO

  By Jade Martinez-Pogue

  Electronic aircraft and propulsion system manufacturer Beta Technologies made its public debut on Tuesday after raising $1 billion in its upsized initial public offering, with Kirkland & Ellis LLP advising the company and Davis Polk & Wardwell LLP advising the underwriters.

• Linklaters Backs Apollo's $6.5B Deal For 50% Of Wind Project

  By Najiyya Budaly

  U.S. asset manager Apollo said it is paying $6.5 billion for a 50% stake in the world's largest wind project, owned by Denmark's Ørsted, to help fund the remaining construction costs.

• MIT Bros Rest, Expert Says $25M Crypto Score Was Aboveboard

  By Stewart Bishop

  Two MIT-educated brothers accused of using an unlawful crypto trading strategy to steal $25 million from other traders on Monday rested their case without taking the stand, after a defense expert witness said they didn't violate any rules of the Ethereum blockchain.