Private Equity

  • March 19, 2024

    Goodwin, Simpson Thacher Steer Astera's Upsized $713M IPO

    Astera Labs Inc., a provider of connectivity chips designed to support cloud software and artificial-intelligence systems, priced an upsized initial public offering Tuesday that raised $712.83 billion, represented by Goodwin Procter LLP and underwriters counsel Simpson Thacher & Bartlett LLP. 

  • March 19, 2024

    Reddit Reveals Patent Complaint From Nokia As IPO Nears

    Reddit Inc. on Tuesday said it received a letter from Nokia Corp. alleging that it has infringed certain Nokia patents, a disclosure that comes just ahead of the social media platform's long-anticipated initial public offering.

  • March 19, 2024

    Leech Tishman Tells 6th Circ. Time Ran Out On Fraud Suit

    A former Leech Tishman attorney was not party to a tolling agreement between his law firm and investors caught in a Ponzi scheme he allegedly should have warned them away from, so the firm should escape vicarious liability once the time limit expired for the investors to sue him, counsel for the firm told the Sixth Circuit Tuesday.

  • March 19, 2024

    Carlisle Buying Roofing Biz From PE Firm GreyLion For $410M

    Dorsey & Whitney LLP-guided Carlisle Companies Inc. said Tuesday it had agreed to buy roofing component business MTL, which is represented by Latham & Watkins LLP, from private equity firm GreyLion Partners for $410 million in cash.

  • March 19, 2024

    3rd Circ. Says CFPB Can Go After Student Loan Trusts

    The Third Circuit ruled Tuesday that the Consumer Financial Protection Bureau can carry on with its debt collection practices suit against a group of Delaware student loan trusts, rejecting their claims that they are just passive financing entities outside the reach of the agency's enforcement authority.

  • March 19, 2024

    Unilever To Spin Off Ice Cream Biz, Including Ben & Jerry's

    European consumer goods giant Unilever on Tuesday unveiled plans to separate its ice cream business, which includes Ben & Jerry's, as part of an effort to simplify and "streamline" its operations.

  • March 19, 2024

    Ropes & Gray Adds Former Cooley Antitrust Partner In DC

    Ropes & Gray LLP has added a longtime Cooley LLP partner who has helped guide some of the largest corporate mergers and acquisitions in recent years, some of which totaled multiple billions of dollars, the firm announced Monday.

  • March 19, 2024

    4 Things To Watch In Reddit's Coming IPO

    Social media platform Reddit Inc. aims to go public this week in a potentially landmark initial public offering that carries distinct risks but, if successful, could energize the broader IPO pipeline. Here, Law360 walks through four things to watch in Reddit's upcoming IPO.

  • March 19, 2024

    Diversified Energy To Buy Gas Assets For $410M

    U.S. oil producer Diversified Energy said Tuesday that it will buy natural gas assets from investment manager Oaktree Capital for $410 million, which will include hedging for protection against the fall in gas prices.

  • March 18, 2024

    Minute Media Buys Rights To Publish Sports Illustrated

    Digital content business Minute Media has purchased the publishing rights for Sports Illustrated, keeping alive a longtime brand that recently obliterated its newsroom with layoffs and shut down its betting platform, according to a Monday announcement.

  • March 18, 2024

    Paul Hastings-Led Francisco Partners To Pay $1.2B For Jama

    Tech-focused private equity investor Francisco Partners has agreed to buy Portland, Oregon-based Jama Software from shareholders including Insight Partners and Madrona Ventures for $1.2 billion, the companies said Monday. 

  • March 18, 2024

    Nuvei's Stock Soars On Disclosure Of Potential PE Buyout

    Canadian fintech Nuvei Corp. said it has formed a special committee to evaluate strategic options after reports indicated that private equity firm Advent International is pursuing a buyout, developments that led to a more than 33% jump in the company's stock Monday.

  • March 18, 2024

    Home Solar Co.'s Ex-CEO Wants Out Of Faulty-Panel Suit

    The CEO of a bankrupt solar company asked a Michigan federal judge on Monday to toss a lawsuit from a couple who purchased a solar system they claim was defective, saying having a "distinctive leadership style" does not make him an alter ego for the company.

  • March 18, 2024

    NYSE Moves To Boot Wilbur Ross-Backed SPAC

    Ross Acquisition Corp. II, a special-purpose acquisition company founded by former U.S. Commerce Secretary Wilbur Ross, disclosed Monday the New York Stock Exchange has suspended trading of its shares and began the delisting process after the SPAC failed to complete a merger within the required three-year time frame.

  • March 18, 2024

    AI-Focused Astera Labs Boosts IPO's Projected Size To $653M

    Astera Labs Inc., a provider of connectivity chips designed to address the growing demand for artificial-intelligence software, on Monday increased the size and price range of its coming initial public offering, which is now set to raise about $653 million.

  • March 18, 2024

    Catching Up With Delaware's Chancery Court

    Multimillion-dollar e-cigarette settlements, $4 billion in stock buybacks and a $6.1 million appraisal tweak were among the big-dollar items logged in the Delaware Court of Chancery's ledger last week. Also on the docket: a Panama port project, a news outlet's defamation case, drone disputes and a flood of mail from Tesla shareholders. In case you missed it, here's all the latest from the Chancery Court.

  • March 18, 2024

    Ex-CEO Sues Trump-Tied SPAC For Litigation, Probe Fees

    A director and former CEO of Donald Trump-tied Digital World Acquisition Corp. has sued the venture in Delaware's Court of Chancery, seeking legal fee advancements from DWAC for costs arising from federal probes, lawsuits in multiple states and potential fiduciary breach claims.

  • March 18, 2024

    Proskauer Guides $58M Sale Of Seattle Reign NWSL Team

    The National Women's Soccer League's Seattle Reign FC will fall under new ownership as a group including men's soccer franchise Seattle Sounders FC and private equity giant Carlyle announced plans to buy the women's team in a deal that values it at $58 million.

  • March 18, 2024

    PE Biz Oakley Capital To Invest £9M In Optical Tech Biz

    Private equity investor Oakley Capital said Monday an associated fund has agreed to buy Horizons Optical for an undisclosed sum, a deal expected to pool in £9 million ($11.5 million) investment for the medical software business.

  • March 18, 2024

    Ex-Goodwin Partner Now PE Vice Chair At Paul Hastings

    Paul Hastings LLP announced Monday that they are adding another private equity attorney from Goodwin Procter LLP, choosing the New York partner to serve as its global vice chair of private equity.

  • March 15, 2024

    FTC Probing Reddit's AI Licensing Ahead Of IPO

    Reddit Inc., which earlier this week announced plans for an estimated $715 million initial public offering, revealed in a U.S. Securities and Exchange Commission filing Friday that the Federal Trade Commission is looking into the company's sale of user-generated content to train artificial intelligence.

  • March 15, 2024

    Split Texas Justices Leave Contempt Charges Against Nate Paul

    The Texas Supreme Court on Friday declined to take up an appeal challenging criminal contempt charges against troubled real estate investor Nate Paul, with dissenting justices arguing that the court would "likely conclude" that Paul's due process rights were violated if it accepted the case.

  • March 15, 2024

    Apollo Voting Rules Favoring Founders Challenged In Del.

    An Apollo Global Management Inc. investor has launched a challenge to board agreements favoring the company's former managing partners in decisions on board and executive committee seats, citing recent Court of Chancery rulings that invalidated similar measures.

  • March 15, 2024

    PE Has Heightened Appetite For Deals Versus Corporates

    Private equity players had a greater appetite for large deals compared to their corporate counterparts moving into 2024, and they also anticipated hashing out a higher number of them, according to a report from software company SS&C Intralinks.

  • March 15, 2024

    Morgan Lewis Adds 3 Perkins Coie Attys To Investment Team

    Global firm Morgan Lewis & Bockius LLP announced Friday that it has hired three ex-Perkins Coie LLP attorneys, including one of its practice group co-chairs, to strengthen its investment management team.

Expert Analysis

  • Mallory Ruling Leaves Personal Jurisdiction Deeply Unsettled

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    In Mallory v. Norfolk Southern Railway, a closely divided U.S. Supreme Court recently rolled back key aspects of its 2017 opinion in Daimler AG v. Bauman that limited personal jurisdiction, leaving as many questions for businesses as it answers, say John Cerreta and James Rotondo at Day Pitney.

  • What Constitutes A Sale Of 'All' Company Assets In Del.

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    The recent ruling in Altieri v. Alexy by the Delaware Chancery Court is a useful reminder of the facts-intensive and nuanced nature of the judicial analysis as to what constitutes a sale of all or substantially all of a company's assets, and provides helpful guidance as to the factors the court views as most critical in making the determination, say attorneys at Fried Frank.

  • Despite Economic Ambiguity, Restructuring Still Strong In '23

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    Although the economy refuses to conform to any predictable script and public perception is middling at best, there's nothing confusing about restructuring activity in 2023, and it seems that restructurings will remain elevated at least through the end of the year and likely longer, says Michael Eisenband at FTI Consulting.

  • 5 Ways Firms Can Rethink Office Design In A Hybrid World

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    As workplaces across the country adapt to flexible work, law firms must prioritize individuality, amenities and technology in office design, says Kristin Cerutti at Nelson Worldwide.

  • Opinion

    Bar Score Is Best Hiring Metric Post-Affirmative Action

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    After the U.S. Supreme Court's ruling striking down affirmative action admissions policies, law firms looking to foster diversity in hiring should view an applicant's Multistate Bar Examination score as the best metric of legal ability — over law school name or GPA, says attorney Alice Griffin.

  • 5 Strategies For Restructuring Underperforming CRE Loans

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    With commercial real estate industry conditions expected to deteriorate further in the coming months, market participants should consider a number of strategies to help resolve challenged investments, ranging from financial restructurings to project phasing, say attorneys at Ballard Spahr.

  • Ghosting In BigLaw: How To Come Back From Lack Of Feedback

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    Junior associates can feel powerless when senior colleagues cut off contact instead of providing useful feedback, but young attorneys can get back on track by focusing on practical professional development and reexamining their career priorities, says Rachel Patterson at Orrick.

  • Steps To Success For Senior Associates

    Excerpt from Practical Guidance
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    Adriana Paris at Rissman Barrett discusses the increased responsibilities and opportunities that becoming a senior associate brings and what attorneys in this role should prioritize to flourish in this stressful but rewarding next level in their careers.

  • Legal Profession Must Do More For Lawyers With Disabilities

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    At the start of Disability Pride month, Rosalyn Richter at Arnold & Porter looks at why lawyers with disabilities are significantly underrepresented in private practice, asserting that law firms and other employers must do more to conquer the implicit bias that deters attorneys from seeking accommodations.

  • Opinion

    The Supreme Court Can't Fix The SEC's In-House Court Issue

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    The U.S. Supreme Court agreed to hear an appeal of the Fifth Circuit's decision in Jarkesy v. U.S. Securities and Exchange Commission that, if upheld, could shutter the in-house courts used by the SEC to litigate many of its enforcement cases, but a constitutional challenge to these courts is probably too blunt an instrument for the job, says David Slovick at Barnes & Thornburg.

  • Opinion

    Appellate Funding Disclosure: No Mandate Is Right Choice

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    The Advisory Committee on Appellate Rules' recent decision, forgoing a mandatory disclosure rule for litigation funding in federal appeals, is prudent, as third-party funding is only involved in a minuscule number of federal cases, and courts have ample authority to obtain funding information if necessary, says Stewart Ackerly at Statera Capital.

  • How NY Law Affects Scrutiny Of Health Care PE Transactions

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    A recently passed New York law will strengthen pretransanction notification requirements for health care entities — particularly those backed by private equity — but contains several ambiguities that will hopefully be clarified before the law takes effect in August, say attorneys at Norton Rose.

  • Case Law Is Mixed On D&O Coverage For Gov't Investigations

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    As the Fourth Circuit’s recent decision in Brown Goldstein v. Federal Insurance Co. demonstrates, federal appeals courts take different approaches to determine whether government investigations are covered by directors and officers liability insurance, so companies and individuals must review their policy language, say Chloe Law, Jan Larson and Caroline Meneau at Jenner & Block.

  • Using Agreements To Cover Gaps In Hydrogen Storage Regs

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    The Inflation Reduction Act's incentives for energy storage have spurred investment in hydrogen storage and production, but given the lack of comprehensive regulations surrounding the sector, developers should carefully craft project and financing agreements to mitigate uncertainties, say Omar Samji and Sarah George at Weil, and attorney Manushi Desai.

  • What To Know About FTC's Merger Filing Proposal

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    Attorneys at Simpson Thacher dissect the Federal Trade Commission's recent proposal to overhaul the premerger notification process — discussing the proposal's requirements, comparing peer jurisdictions' premerger regimes, and reviewing the implementation process for a final rule change.

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