Mergers & Acquisitions

  • March 27, 2024

    Chancery Sides With Cannabis Company On Legal Fees Row

    A Delaware Court of Chancery judge at a Wednesday hearing gave Left Coast Ventures Inc. time to fulfill a court order requiring it to cover legal fees for three former directors of the cannabis company defending a merger-related suit, after a company attorney told the judge the money will be coming.

  • March 27, 2024

    Troika Media Can Exit Ch. 11 After Settlement And Lender Sale

    Marketing firm Troika Media Group Inc. is set to exit bankruptcy before the end of the month after a New York bankruptcy judge Wednesday said he would approve its Chapter 11 plan to sell itself as a going concern and settle pre-bankruptcy legal disputes.

  • March 27, 2024

    Everbridge Investor Seeks To Block $1.8B Thoma Bravo Deal

    A shareholder in Massachusetts-based emergency management platform Everbridge Inc. is asking a state court to intervene in a pending $1.8 billion acquisition by private equity firm Thoma Bravo LP, alleging in a Wednesday lawsuit that investors are being misled about the true value of shares and the motives of those promoting the deal.

  • March 27, 2024

    BCLP Adds Ex-Nelson Mullins Outsourcing Pro To NY Office

    Bryan Cave Leighton Paisner LLP on Tuesday announced the addition of the former digital transformation and outsourcing chair at Nelson Mullins Riley & Scarborough LLP, touting her skills in those areas.

  • March 27, 2024

    Dykema-Led CPS Energy Buying Texas Gas Assets For $785M

    Dykema Gossett PLLC-advised CPS Energy has agreed to buy a Texas power generation portfolio from Talen Energy Corp. for $785 million, the companies said Wednesday.

  • March 27, 2024

    Skadden Steers Int'l Paper's £5.7B Bid For DS Smith

    International Paper Co. has made a £5.72 billion ($7.22 billion) proposed offer for British rival DS Smith PLC as it seeks to compete with the earlier bid of £5.1 billion made by Mondi PLC.

  • March 26, 2024

    Banker Describes Confidential Work In 'Shadow Trading' Trial

    An Evercore investment banker who worked on Medivation's 2016 sale to Pfizer testified Tuesday in the U.S. Securities and Exchange Commission's novel "shadow trading" trial, saying the defendant was involved in a confidential process that identified biopharma company Incyte as comparable to Medivation — information the defendant is accused of trading on.

  • March 26, 2024

    Judge To Let McDermott Investors Seek 2-Subclass Cert.

    A Texas federal judge has declined to certify a proposed class of investors in energy industry engineering company McDermott International Inc., siding with a magistrate judge who recommended dismissing the class certification bid so the investors could refile and seek certification for two investor subclasses.

  • March 26, 2024

    FCC Urged To Require Unlocked Phones In T-Mobile-Mint Deal

    A collection of public interest groups is asking the Federal Communications Commission to attach new strings to T-Mobile's proposed $1.3 billion purchase of prepaid phone sellers Mint Mobile and Ultra Mobile, including a requirement that the carrier more quickly "unlock" its phones so they can be transferred between service providers.

  • March 26, 2024

    SPAC 'Frenzy' Led To $1.6B Deal For Dog Treat Co., Suit Says

    Shareholders of a special-purpose acquisition company that merged with dog-treat box company BarkBox in a $1.6 billion deal have sued the executives and directors of both entities, alleging they breached their fiduciary duties in connection with what the complaint calls "an extreme example of the 'churn-and-burn' SPAC frenzy."

  • March 26, 2024

    FTC Urges Court To Pause Novant's NC Hospital Deal

    The Federal Trade Commission is urging a North Carolina federal court to pause Novant Health's $320 million deal for a pair of hospitals, contending the move would give Novant an "eye-popping" share of the hospital market in a Charlotte suburb.

  • March 26, 2024

    AI Weapons Detector Faces Investor Suit After Gov't Probes

    Evolv Technologies, which makes metal detectors that purportedly use artificial intelligence to detect weapons, is facing a proposed shareholder class action in Massachusetts federal court alleging that false claims about its products' abilities to screen for types of tactical knives and guns led to federal investigations and share declines.

  • March 26, 2024

    SPAC Investors Misled In $1.35B Stem Deal, Del. Suit Says

    A former stockholder of a blank-check company that merged with intelligent energy storage business Stem Inc. filed a proposed class action in Delaware's Court of Chancery Tuesday, alleging breaches of fiduciary duty and unjust enrichment in connection with the April 2021 merger.

  • March 26, 2024

    Alibaba Offers $3.75B Logistics Biz Takeover Instead Of IPO

    Chinese e-commerce giant Alibaba Group Holding Ltd. on Tuesday went back on its plans to spin off Cainiao Smart Logistics Network Ltd. through an initial public offering and instead announced plans to buy the remaining stake in the business that it does not already own for up to $3.75 billion.

  • March 26, 2024

    6 Firms Build $340M SPAC Merger For AI-Driven Medicine Biz

    Precision medicine company OmnigenicsAI Corp. on Tuesday announced it and artificial intelligence-enabled preventative medicine company MultiplAI Health Ltd., which it recently agreed to acquire, will go public through a merger with blank-check company APx Acquisition Corp. I in a deal built by six firms, valuing the two businesses at a combined $340 million.

  • March 26, 2024

    Pot Co. Withholding Fees Despite Court Order, Chancery Told

    Three former directors of Left Coast Ventures Inc. say the cannabis company still hasn't advanced their legal defense fees for a merger-related lawsuit despite a court order to do so, and are now seeking help from Delaware's Court of Chancery to get the bills paid.

  • March 26, 2024

    Sports Agency Ballengee Merging With AI-Driven Software Co.

    Las Vegas-based software company Scepter Holdings Inc. said Tuesday it has agreed to merge with Ballengee Group LLC, a Dallas-based sports management agency focused on representing athletes in Major League Baseball, the National Football League and the UFC mixed-martial arts organization. 

  • March 26, 2024

    Arista Networks Founder To Pay SEC $1M Insider Trading Fine

    The billionaire founder of technology company Arista Networks Inc. will pay a nearly $1 million fine to settle the U.S. Securities and Exchange Commission's allegations that he engaged in insider trading regarding an impending acquisition, the agency announced Tuesday.

  • March 26, 2024

    Enbridge Plugs $350M Into Natural Gas Joint Venture

    Enbridge Inc., WhiteWater/I Squared Capital and MPLX LP on Tuesday announced that they will be banding together to form a joint venture that will develop, construct, own and operate natural gas pipelines and storage assets that connect the Permian Basin natural gas supply to liquefied natural gas export markets.

  • March 25, 2024

    SEC Kicks Off 'Shadow Trading' Case Against Drug Exec

    The U.S. Securities and Exchange Commission said at the start of a California federal "shadow trading" trial that a former Medivation executive made $120,000 by buying stock in a rival after learning his company would be acquired by Pfizer, while the defense said he didn't believe the trades violated securities law.

  • March 25, 2024

    Truth Social To Start Trading With Performance Tied To Trump

    Shares of former President Donald Trump's nascent social media platform Truth Social are set to begin trading Tuesday, setting up a potentially volatile ride for an unprofitable company with scant revenue.

  • March 25, 2024

    Ex-Lordstown CEO Settles SEC's 'Pre-Sale' Fraud Claims

    The former CEO of the electric pickup truck company once known as Lordstown Motors Corp. has agreed to pay $175,000 to settle the U.S. Securities and Exchange Commission's fraud claims over the alleged misrepresentation of its pre-sale demand for vehicles.

  • March 25, 2024

    Texas Hotel REIT Says Blackwells Wants Illegal Proxy Contest

    A Texas hotel real estate investment trust asked a Texas federal court Sunday to stop a shareholder vote "from being infected with deception and misinformation," saying a New York-based hedge fund wants to run an illegal proxy contest to take control of the company's board of directors while hiding plans to buy it.

  • March 25, 2024

    Kroger Says Sweetened Merger Deal Will Sink Antitrust Doubts

    Kroger told a Colorado state judge Monday that it plans to "enhance" its $24.6 billion Albertson's merger to satisfy federal and state regulators, a plan it did not yet describe in detail and that Colorado said it has not seen.

  • March 25, 2024

    EV Maker Fisker Says It's Considering Restructuring

    Electric vehicle company Fisker told federal regulators it is considering restructuring after the collapse of partnership talks with a "large automaker" endangered its attempts to secure $150 million in new financing.

Expert Analysis

  • Series

    Conn. Banking Brief: The Notable Compliance Updates In Q3

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    The most notable legal changes affecting Connecticut financial institutions in the third quarter of 2023 included increased regulatory protections for consumers, an expansion of state financial assistance for underserved communities, and a panoply of tweaks to existing laws, says Brian Rich at Barclay Damon.

  • Opinion

    Judicial Independence Needs Defense Amid Political Threats

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    Amid recent and historic challenges to the judiciary from political forces, safeguarding judicial independence and maintaining the integrity of the legal system is increasingly urgent, says Robert Peck at the Center for Constitutional Litigation.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

  • The Impact Of Proposed HSR Form Changes On Agency Staff

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    The Federal Trade Commission's recent proposed changes to the Hart-Scott-Rodino Notification and Report Form will have the unintended effect of drastically increasing the burden on agency staff without an appreciable increase in their ability to detect potentially anti-competitive transactions, say Amanda Wait and Andrew Eklund at Norton Rose.

  • FTC's Health Co. Suit Indicates Agency's Private Equity Focus

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    The Federal Trade Commission's latest lawsuit against an anesthesia company and its private equity investor highlights the agency's willingness to regulate the health care industry even when relevant acquisitions are relatively dated or when the controlling entity's economic interest is under 50%, say attorneys at Simpson Thacher.

  • Top 4 Antitrust Enforcement Issues In Health Care Today

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    The Federal Trade Commission's recent lawsuit against U.S. Anesthesia Partners exemplifies antitrust enforcement authorities' efforts to aggressively reshape the health care industry, ranging from new proposed rules to withdrawals of previous guidance, say attorneys at Fried Frank.

  • Maximizing Law Firm Profitability In Uncertain Times

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    As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.

  • OECD Gender Inclusive Toolkit May Inform Competition Policy

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    A toolkit recently released by the Organization for Economic Cooperation and Development offers a potential framework for guiding competition regulators and practitioners to better understand how market dynamics affect different gender groups, and could potentially be applied to other demographic lenses as well, say analysts at Analysis Group.

  • Alleged $636M Deal Error Highlights Ethics Considerations

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    Adelman v. Proskauer, a malpractice suit that allegedly arose from a cut-and-paste error resulting in potential damages of $636 million, presents an intriguing juxtaposition of facts and legal issues — and practical ethical considerations for transactions attorneys, says Richard Leisner at Trenam Law.

  • Tech M&A Due Diligence Checklist: Sector-Specific Concerns

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    In an increasingly dynamic technology merger and acquisition landscape, there are seven high-impact diligence concerns that must be addressed early and with precision, say attorneys at Gibson Dunn.

  • 5 DOJ Enforcement Priorities To Note From Recent Remarks

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    Principal Associate Deputy Attorney General Marshall Miller’s recent speech provided a glimpse into the U.S. Department of Justice’s corporate criminal enforcement priorities — from national security concerns to mergers and acquisitions — with takeaways for companies’ compliance programs, say Joseph Jay and Jennifer Le at Sheppard Mullin.

  • 5th Circ. Ruling Reminds Attys That CBP Can Search Devices

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    The Fifth Circuit’s recent Malik v. Department of Homeland Security decision adds to the chorus of federal courts holding that border agents don’t need a warrant to search travelers’ electronic devices, so attorneys should consider certain special precautions to secure privileged information when reentering the U.S., says Jennifer Freel at Jackson Walker.

  • Alleged $636M Deal Error Shows Value Of Old-School Methods

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    Though Proskauer Rose has now settled claims involving a copy-paste error in deal documents that could have resulted in $636 million in damages, the debacle reminds attorneys that classic revision methods using paper copies can help avoid drafting errors and actually save time in the long run, says Richard Leisner at Trenam.

  • How Gov't Agencies Will Fare In The Event Of A Shutdown

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    With a federal shutdown potentially set to begin at the end of this month, it may be useful to consider the approximate timelines that agencies such as the Federal Trade Commission and IRS have announced for curtailing operations, and potential strategies for mitigating challenges that may arise while agency functions are limited, say attorneys at Cleary.

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