TikTok Urges DC Circ. To Ax 'Unprecedented' Divestment Bill

By Allison Grande

TikTok on Tuesday lodged its highly anticipated challenge to a new federal law that would exclude the popular app from the U.S. market unless it cuts ties with its Chinese parent company, telling the D.C. Circuit that the measure amounts to an unconstitutional and unprecedented ban on free speech. 

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Q&A

Venable Trade Co-Chair Shares Hot Takes On US Steel-Nippon

By Al Barbarino

Back in December, Venable LLP partner Ashley Craig, co-chair of the firm's international trade group, spoke with Law360 just after U.S. Steel disclosed its agreement to be sold to Nippon Steel. Now, he shares his thoughts on the latest developments, including the White House coming out forcefully against the deal and the U.S. Department of Justice launching a probe into it.

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Everton Investors Bemoan Soccer Team Sale Amid Fraud Suit

By Elaine Briseño

The Everton FC Shareholders Association wants to slam the brakes on the "farce" sale of its Premier League soccer team to private equity firm 777 Partners LLC, arguing they are not qualified owners, a demand that comes as the firm faces allegations of fraud.

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Spirit Aerosystems Eyes Buyout By Boeing Amid Safety Probe

By Rae Ann Varona

Boeing is in talks to acquire aerospace supplier Spirit AeroSystems, which took a first-quarter hit partly due to Boeing 737 production delays and a safety investigation resulting from a midair 737 door plug blowout in January, Spirit announced Tuesday.

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Fashion Cos. Say FTC Bid To Ax $8.5B Deal 'Makes No Sense'

By Lauren Berg

The Federal Trade Commission's move to block the owner of Coach and Kate Spade from buying the owner of Michael Kors and Jimmy Choo for $8.5 billion "makes no sense," the companies argued in response, saying they aren't the only handbag brands in the game.

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Alight Inks Deal With Activist Starboard For 2 New Directors

By Al Barbarino

Alight Inc., a cloud-based human capital and technology services provider, said Tuesday it has agreed to appoint two new independent directors to its board through an agreement with activist investor Starboard Value LP. 

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Truth Social Investor Grilled By Feds At Insider Trading Trial

By Pete Brush

A Florida investment pro on trial for allegedly exploiting confidential plans to take Truth Social public in a $23 million insider trading case was challenged Tuesday by prosecutors on the timing of trades and communications before the "special" media deal.

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Trump Media Co-Founders Seek Chancery Contempt Order

By Jeff Montgomery

Two early investors in Trump Media & Technology Group have called for a Delaware Court of Chancery contempt ruling against Donald Trump's Truth Social media company, saying its attempt to claim their shares in a Florida lawsuit contradicted earlier representations in Delaware.

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Plastics Recycler Sued In Del. After Stock Drop, Investigations

By Jeff Montgomery

A PureCycle Inc. stockholder has launched a multicount derivative suit against the plastics recycling company's officers and directors in Delaware's Court of Chancery, seeking damages tied to a stock drop, alleged disclosure failures and insider dealings before and after a 2021 take-public merger.

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Colo. Judge Iffy On DOJ's Missive In Kroger Merger Challenge

By Thy Vo

A Colorado state judge said he was unsure Tuesday about how to handle the Department of Justice's recent filing defending the state's authority to challenge Kroger's $24 billion merger with Albertsons, as Kroger claimed federal regulators were flip-flopping their antitrust stance.

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Novant CEO Vows To Improve Hospitals Facing FTC Scrutiny

By Hayley Fowler

Novant Health kicked off its defense Tuesday in the Federal Trade Commission's $320 million merger challenge with testimony from its longtime CEO, who vocalized the health system's promise to reinvest in the two struggling hospitals at the center of the case.

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$55M Hospital Merger Suit Deal OK'd, UHC Objection Rejected

By Bryan Koenig

An Illinois federal judge has given final approval to a $55 million class settlement, with $23.5 million in legal costs and attorney fees, resolving patient antitrust claims over a NorthShore University HealthSystem merger, all while finding that United Healthcare Services had no standing to object to the deal.

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Fenwick-Led Cloud Security Co. Raises $1B At $12B Valuation

By Jade Martinez-Pogue

New York-headquartered cloud security company Wiz, advised by Fenwick & West LLP, announced on Tuesday that it hit a $12 billion valuation after securing $1 billion in its latest fundraising round.

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WilmerHale Guides Akamai's $450M Buy Of Noname Security

By Jade Martinez-Pogue

Cloud company Akamai Technologies Inc., advised by WilmerHale, on Tuesday announced plans to buy Noname Security, an application programming interface security company, for $450 million.

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Canopy Growth Expands In US With Wana, Jetty Buys

By Jonathan Capriel

Canadian cannabis company Canopy Growth announced Tuesday that its U.S. division has exercised options to acquire two American companies as part of its goal to establish a domestic "brand-focused powerhouse" — acquisitions for which Canopy spent nearly $370 million.

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Apax Unit Raises €23M From Parent's Sale Of Biz To KKR

By Dawood Fakhir

Investment company Apax Global Alpha said Tuesday that it has raised approximately €22.7 million ($24.4 million) from its parent company's sale of India-based medical devices maker Healthium MedTech Ltd. to investment giant KKR & Co. Inc.

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Corlytics Acquires Deloitte UK RegTech Platform

By Andrea Keckley

Less than a year after acquiring compliance software provider Clausematch, Irish regulatory risk business Corlytics Ltd. announced Tuesday that it has also acquired a digital RegTech platform from Deloitte UK.

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MultiPlan, Insurance Cos. Accused Of Algorithmic Collusion

By Matthew Perlman

A medical provider has lodged a proposed class action in Illinois federal court accusing MultiPlan and major insurance companies, including UnitedHealth, Aetna, Kaiser Permanente and Cigna, of using pricing tools to systematically underpay out-of-network providers.

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Steward Health Gets Ch. 11 Loan, Says It Plans Hospital Sales

By Rick Archer

A Texas bankruptcy judge Tuesday allowed Steward Health Care to take out $75 million in Chapter 11 financing to meet its next-day payroll after being told the hospital chain plans to sell facilities to pay down its $9 billion in debt.

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Prepetition Waivers Sway Invitae Judge On Kirkland Hire

By Vince Sullivan

A New Jersey bankruptcy judge approved the retention of Kirkland & Ellis LLP as bankruptcy counsel for debtor Invitae Corp. Tuesday, the same day he approved a $239 million sale of its assets to Labcorp.

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A Recipe For Growth Equity Investing In A Slow M&A Market

Carl Marcellino at Ropes & Gray discusses the factors bolstering appetite for growth equity fundraising in a depressed M&A market, and walks through the deal terms and other ingredients that set growth equity transactions apart from bread-and-butter venture capital investing.

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Lewis Brisbois Atty Fatally Shot In McDonald's Altercation

By Ryan Boysen

A Lewis Brisbois Bisgaard & Smith LLP attorney was fatally shot at a McDonald's in Houston after reportedly stepping in as a good Samaritan and attempting to calm down an irate customer who'd been arguing with staff at the fast food restaurant.

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Titan Of The Plaintiffs Bar: Lieff Cabraser's Kelly Dermody

By Irene Spezzamonte

A semester off from Harvard University in the late 1980s meant for reflection instead turned into a pivotal moment in Kelly Dermody's life, settling the roots for her successful career during which she has become a lighthouse for employment and discrimination cases.

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ABA Directs Attys To Avoid Sharing Client Info On Listservs

By Emily Sawicki

It is in the best interest of clients for their legal counsel to avoid sharing information related to representation while seeking advice in an online listserv forum, if the comments or questions could be connected to a client's identity, according to American Bar Association guidance published Wednesday.

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Analysis

In Story Of Sex And Lies, Can Cohen Write Final Chapter?

By Phillip Bantz

The Manhattan District Attorney's Office has told a story of scandal and scheming to the jury in Donald Trump's criminal hush money trial, setting the stage for the prosecution's star witness to take the stand and wrap up the narrative.

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Ga. Appeals Court Will Review Trump DQ Bid In Election Case

By Kelcey Caulder

The Georgia Court of Appeals on Wednesday agreed to review a judge's ruling allowing Fulton County District Attorney Fani Willis to continue prosecuting the election interference case she brought against former President Donald Trump.

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Fani Willis Is Outraising Primary Challenger More Than 5 To 1

By Chart Riggall

Less than two weeks from the first hurdle in her bid for reelection, Fulton County District Attorney Fani Willis is boasting a​​ campaign war chest more than five times heftier than her Democratic challenger's, according to campaign finance disclosures filed this week.

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Biden Picks US Magistrate Judge In Fla. For 11th Circ.

By Courtney Bublé

President Joe Biden announced Wednesday his intent to nominate U.S. Magistrate Judge Embry J. Kidd to the Eleventh Circuit.

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Judge OKs American University's $5.4M COVID Tuition Deal

By Ali Sullivan

A D.C. federal judge gave the final nod to a $5.4 million deal resolving class action claims brought by American University students seeking tuition refunds after the school pivoted to remote learning during the early days of the COVID-19 pandemic.

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Series

Swimming Makes Me A Better Lawyer

Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.

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