Private Equity

  • August 26, 2016

    3 Cos. Boost IPO Pipeline With $250M In New Filings

    A venture-backed technology startup, Chinese data analytics provider and branded cosmetics company filed initial public offerings totaling $250 million on Friday, boosting a thin IPO pipeline that is beginning to show signs of emerging from late-summer doldrums.

  • August 26, 2016

    Deals Rumor Mill: Herbalife, Hurtigruten, China Vanke

    Carl Icahn could sell his roughly $1 billion stake in Herbalife to a group that includes rival Bill Ackman, numerous private equity firms have interest in buying Norwegian cruise operator Hurtigruten and real estate developer China Vanke hopes to buy an approximately $386 million Shanghai office tower from Carlyle.

  • August 26, 2016

    3 Takeaways From The SEC's Recent Rash Of PE Settlements

    The U.S. Securities and Exchange Commission's ongoing crusade against private equity industry infractions related to issues including disclosure and fee allocations shows no signs of slowing, with the most recent multimillion-dollar settlements involving Apollo Global Management LLC and WL Ross & Co. LLC. Here, Law360 explores three takeaways from this most recent collection of settlements.

  • August 26, 2016

    Don't Miss It: Hot Deals & Firms We Followed This Week

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days, with firms such as Womble Carlyle at the helm. Here, Law360 recaps the ones you might have missed.

  • August 26, 2016

    Judge Lifts The Brakes On Caesars Creditor Suits

    An Illinois bankruptcy judge on Friday rejected pleas by Caesars' indebted operating unit to protect the casino behemoth from four creditor lawsuits that have been on hold for months, saying that he wouldn't extend the stay beyond its Aug. 29 cutoff date. 

  • August 26, 2016

    Taxation With Representation: Ropes, Cooley, Wachtell

    In this week’s Taxation with Representation, Pfizer announces a $14 billion deal for a biotechnology company, a Canadian retail giant drops $4.4 billion on CST Brands and Berry Plastics grows its North American presence with the purchase of a smaller rival.

  • August 26, 2016

    Court Misread FCA In Chopper Co. Bribery Suit, DOJ Says

    The U.S. Department of Justice filed an amicus brief with the Eleventh Circuit Thursday in a whistleblower suit accusing MD Helicopters Inc. of bribery and selling overpriced choppers that, while neutral, argued these types of allegations can incur False Claims Act liability.

  • August 26, 2016

    Apollo Taking Cloud Giant Rackspace Private In $4.3B Deal

    Paul Weiss Rifkind & Garrison LLP represented Apollo Global Management LLC on the private equity firm’s $4.3 billion dollar purchase of cloud computing giant Rackspace in a deal that also involves an equity investment by Searchlight Capital Partners LP, which was advised by Wachtell Lipton Rosen & Katz.

  • August 25, 2016

    ExamWorks Investors Seek Stock Appraisal After $2B Buyout

    Investors in independent medical exam company ExamWorks Group Inc. petitioned the Delaware Chancery Court on Thursday to appraise the value of its shares now that the deal for Leonard Green & Partners to purchase it in an all-cash deal worth about $2.2 billion has closed.

  • August 25, 2016

    Deals Rumor Mill: Alibaba Group, SunEdison, GfK

    A unit of Alibaba Group valued at $60 billion could go public in Hong Kong next year, Chinese clean energy company Golden Concord hopes to scoop up some of bankrupt SunEdison's assets and German market research firm GfK is mulling a sale or merger.

  • August 25, 2016

    PE Magnate Tilton Loses Bid For SEC Review In Fraud Case

    The U.S. Securities and Exchange Commission on Wednesday denied a request by Patriarch Partners CEO Lynn Tilton for a review of an administrative law judge’s refusal to change hearing dates in an antifraud proceeding against her and her private equity firm.

  • August 25, 2016

    Caesars Makes Final Plea To Protect $4B 'Linchpin'

    Caesars Entertainment Operating Co. denied at the close of a hearing Thursday that a request to shield its parent company from creditor lawsuits was motivated by anything other than a desire to protect a $4 billion contribution that is the “linchpin” to the debtor’s Chapter 11 reorganization plan.

  • August 25, 2016

    Tritower Financial Nabs $60.5M Va. Office Building

    Jones Lang LaSalle Inc.’s real estate services arm said Wednesday that it arranged the $60.5 million sale of the Independence Center I property in Chantilly, Virginia, a Northern Virginia community located right outside of Washington, D.C., on behalf of real estate investment trust Carr Properties.

  • August 25, 2016

    Starwood Says Calif. Wrong Venue For Hotel Sale Fraud Suit

    Starwood Hotels and Resorts Worldwide told a California court Wednesday that it was the wrong venue for a fraud case involving a failed deal to buy a San Francisco hotel.

  • August 25, 2016

    Disruptive Tech-Focused Danhua Nabs $250M For Fund

    Danhua Capital, a private and venture capital investor that is primarily focused on early-stage companies developing disruptive technologies in industries including artificial intelligence and cloud computing, has raised $250 million toward its second fund, according to a Thursday regulatory filing.

  • August 25, 2016

    Key Energy Intends To Restructure $1B Debt In Ch. 11

    Oil well service provider Key Energy Services Inc. said Wednesday that the company intends to file for Chapter 11 bankruptcy in order to execute a prenegotiated reorganization plan to restructure nearly $1 billion in debt and hand control of the company over to senior noteholder Platinum Equity.

  • August 25, 2016

    PE-Backed IBA Molecular Pays $690M For Nuclear Imaging Biz

    Private equity-backed radiopharmaceuticals products maker IBA Molecular has agreed to buy the nuclear imaging business of Irish drugmaker Mallinckrodt PLC in a deal worth $690 million, the companies said on Wednesday.

  • August 25, 2016

    Earlybird Seeks €120M For Euro Medical Tech Fund

    European private investment firm Earlybird Venture Capital is in the midst of raising an up to €120 million ($135.36 million) fund that will focus on medical technology companies in the region, the firm said Wednesday.

  • August 24, 2016

    SEC Slaps WL Ross With $2.3M Fine For Fee Overcharges

    Private equity adviser WL Ross & Co. LLC agreed to pay the U.S. Securities and Exchange Commission $2.3 million in civil penalties to end allegations that the firm overcharged funds it advised $12 million in fees, which it later reimbursed.

  • August 24, 2016

    Caesars Shouldn’t Be Rewarded For Not Talking: Creditors

    Caesars Entertainment creditors pushing to lift the hold on $11 billion in note guarantee litigation against the company’s nondebtor parent painted a picture Wednesday of a company that refuses to discuss a possible out-of-court solution to the parties’ problems, asking an Illinois bankruptcy judge to finally let the creditors have their day in court.

Expert Analysis

  • Defining Attorney-Client Relationships In The Electronic Age

    Elizabeth Fitch

    As technology has advanced, the ways in which attorneys communicate with clients, potential clients, former clients and the public has created new and ill-defined issues relating to whether an attorney-client relationship exists. Attorneys Elizabeth Fitch and Theodore Schaer discuss the often nebulous yet hazardous concepts that could lead to malpractice issues.

  • State Of Texas Legal Market: It Isn’t Just About Oil

    Geoff Schuler

    Some market watchers believe that law firms with significant energy-related practices have experienced precipitous declines in revenue and profits due to the dip in oil prices. Yet, firms continue to be bullish on Texas, and those still looking for a point of entry will jump at the right opportunity, say consultants with LawVision Group LLC.

  • China’s Buying Spree: Is It Real And Sustainable?

    Yingxi Fu-Tomlinson

    China’s record-breaking number of overseas acquisitions in the first half of the year does not paint a complete picture. As the number of proposed deals surges, the number of high-profile failed and withdrawn Chinese offers has also grown, say Yingxi Fu-Tomlinson and Aileen Chou of Kaye Scholer LLP.

  • 4 Reasons Law Firm Business Development Initiatives Fail

    Adam Donovan

    By understanding four common reasons why law firm business development initiatives fail, we can more accurately define success, avoid pitfalls, and improve return on investment, says Adam Donovan, senior manager of patent business strategy at Fish & Richardson PC.

  • From BigLaw To Your Own Firm: 4 Tips For Legal Startups

    Russell Shinsky

    Highly successful attorneys who are thinking about leaving the safe haven of a large law firm to go out on their own face a number of issues specific to the legal profession. Russell Shinsky, chairman of Anchin Block & Anchin LLP's law firms industry group, shares four pillars of a successful startup law firm.

  • Energy Finance Attys Are Shifting Focus In Tough Times

    Kraig Grahmann

    In the boom years of 2011 through 2014, energy lenders were directing their attorneys to “loosen up” credit agreements. Today’s distressed environment has seen lenders and their attorneys turn 180 degrees to shift their focus to a range of new issues, say Kraig Grahmann and Buddy Clark of Haynes and Boone LLP.

  • 4 Communications Fundamentals For High-Stakes Litigation

    Michael J. Gross

    The court of public opinion can mete out judgments as harsh as those rendered by a court of law, which is why communications professionals and attorneys should be working together to protect their clients’ reputation and advance their legal objectives as litigation proceeds, as well as when decisions or settlements are reached, say Michael Gross and Walter Montgomery at Finsbury.

  • Impact Of Pay-To-Play Rules In 2016 Election Cycle

    Clifford J. Alexander

    Vice presidential candidate Mike Pence’s authority over the Indiana Public Retirement System and the Indiana Education Savings Authority as governor of Indiana may limit political contributions to the Donald Trump presidential campaign from a wide spectrum of financial institutions. Investment advisers, brokers, dealers and municipal advisers, among others, are potentially affected, say attorneys with K&L Gates LLP.

  • Risk Management Tips For Attys Serving As Local Counsel

    Patrick S. (Sean) Ginty

    Often, the lead counsel in a case maintains sole contact with the client and makes substantive decisions, relying upon the local counsel only to serve in the requisite capacity to satisfy jurisdictional procedures. Therein lies the problem — absent appropriate precautionary measures, the local attorney faces equal malpractice exposure for the substantive, strategic decisions of the lead counsel, say Patrick (Sean) Ginty of CNA Glob... (continued)

  • Lessons From Del. On Good Faith, Fair Dealing In Earnouts

    Lisa A. Fontenot

    The inherent complexity of earnouts and the ever-present challenge of predicting all relevant eventualities can lead to disagreement as to whether an M&A buyer complied with its covenants. Recent Delaware decisions emphasize that parties should seriously consider whether and how post-closing operational requirements are to be articulated in agreements, says Lisa Fontenot of Gibson Dunn & Crutcher LLP.