Private Equity

  • March 12, 2024

    Auto Software Biz Valued At $6B After $250M Series E Round

    Vehicle software supplier Applied Intuition Inc., advised by Goodwin Procter LLP, on Tuesday celebrated hitting a $6 billion valuation following the close of its $250 million Series E funding round.

  • March 12, 2024

    Clean Fuels Provider XCF To Go Public Via $1.84B SPAC Deal

    Sustainable aviation fuel company XCF Global Capital Inc., advised by Stradley Ronon Stevens & Young LLP, announced on Tuesday that it will go public through a merger with Kirkland & Ellis LLP-advised special purpose acquisition company Focus Impact BH3 Acquisition Co. in a deal that will give the combined business a pro forma enterprise value of $1.84 billion.

  • March 12, 2024

    AT&T Offloaded Pensions In Risky Annuity Deal, Suit Says

    AT&T shirked its fiduciary duty and put 96,000 workers' retirement savings in jeopardy by transferring pension obligations to a "risky" annuity provider, according to a proposed class action filed in Massachusetts federal court.

  • March 12, 2024

    Sheppard Mullin Adds Ex-Latham & Watkins Atty In Chicago

    Sheppard Mullin Richter & Hampton LLP has hired as a partner in its Chicago office an attorney who formerly worked for accounting firm KPMG and also spent 18 years at Latham & Watkins LLP.

  • March 12, 2024

    Scholastic Buys Children's Content Co. 9 Story In $186M Deal

    Children's publishing giant Scholastic on Tuesday announced that it will acquire all the economic interest and minority voting rights in 9 Story Media Group, an independent creator, producer and distributor of children's content, for roughly $186 million.

  • March 12, 2024

    CMS Guides UK Cash Savings Platform On £108M Investment

    Flagstone has secured a £108 million ($138 million) investment from U.S. private equity firm Estancia Capital Partners to help it "capitalize on the opportunities ahead" in Britain's savings market.

  • March 11, 2024

    Hertz Tells Chancery To Reject $4B Buyback 'Hindsight' Suit

    Hertz directors weren't certain when they authorized $4 billion in stock buybacks that it would transfer control of the company to a private equity-backed shareholder, an attorney for Hertz told Delaware's Court of Chancery on Monday, urging the court to toss a shareholder's lawsuit over the buybacks.

  • March 11, 2024

    Entire Deadspin Staff Cut After Site's Sale To European Firm

    All existing employees of sports blogging site Deadspin have been laid off after finding out Monday that the blog's owner, private equity-backed G/O Media Inc., has agreed to sell the site to European firm Lineup Publishing for an undisclosed price.

  • March 11, 2024

    Shoppers' Kroger, Albertsons Suit Shelved Pending FTC Case

    A California federal judge pumped the brakes Monday on a private lawsuit challenging Kroger's $24.6 billion bid for Albertsons, preferring to wait on the outcome of a Federal Trade Commission lawsuit against the deal newly filed in Oregon federal court.

  • March 11, 2024

    Sidley Gains Finance Ace From Paul Hastings In California

    Sidley Austin LLP has strengthened its global finance practice with the addition of a partner who came aboard after practicing at Paul Hastings LLP for more than two decades and will be based in the firm's office in the Century City neighborhood of Los Angeles.

  • March 11, 2024

    Reddit Unveils Long-Anticipated IPO That Could Raise $715M

    Reddit Inc. on Monday launched plans for an estimated $715 million initial public offering, represented by Latham & Watkins LLP and underwriters' counsel Davis Polk & Wardwell LLP, setting in motion the social media platform's long-awaited IPO.

  • March 11, 2024

    Burford, Sysco Can't Swap In Price-Fixing Suits, Court Told

    A magistrate judge was right to point to the underlying facts and public policy when denying an attempt to substitute a Burford Capital affiliate for Sysco in sprawling price-fixing lawsuits against pork and beef producers, the beef producers told a Minnesota federal court.

  • March 11, 2024

    O'Melveny Lands Private Equity Ace From Kirkland In Calif.

    O'Melveny & Myers LLP announced Monday that it has strengthened its private equity group with the addition of a Century City-based partner who came aboard from Kirkland & Ellis LLP.

  • March 11, 2024

    Catching Up With Delaware's Chancery Court

    Delaware's Court of Chancery became a hot topic in New Orleans last week as litigators and judges at an annual convention acknowledged the First State's corporate law preeminence is under scrutiny. Back home, the court moved ahead on disputes involving Meta Platforms, Abercrombie & Fitch and Donald Trump.

  • March 11, 2024

    Retailer The Body Shop Files For US Liquidation

    Buth-Na-Bodhaige Inc., better known as soap and lotion seller The Body Shop, filed for Chapter 7 liquidation in New York after its international parent filed for insolvency in the United Kingdom.

  • March 11, 2024

    US Fund Manager Elliott Pulls £760M Bid For Currys

    U.S. investment firm Elliott Advisors said Monday that it will not make another offer for Currys PLC, after the British electrical retailer snubbed a £760 million ($976 million) proposed takeover bid in February.

  • March 09, 2024

    Trump's Truth Social Defuses Chancery Go-Public Fight

    If Truth Social issues any new shares before it goes public, they will be put into escrow account and no existing shareholder will be diluted, former President Donald Trump's social media company told Delaware's Court of Chancery on Saturday, ratcheting down a conflict with a minority shareholder.

  • March 08, 2024

    Trump 'An Existential Threat' To Rule Of Law, Attys Warn

    Former President Donald Trump represents an "existential threat" to democracy and the rule of law, legal experts said Friday at a conference on white collar crime in San Francisco.

  • March 08, 2024

    WaPo Scores Exit In Trump Media's $3.8B Defamation Suit

    A Florida federal judge on Friday tossed a $3.8 billion defamation lawsuit by former President Donald Trump's social media startup but gave the company another shot at supporting its claims that the Washington Post acted with malice in its reporting accusing the startup of securities fraud.

  • March 08, 2024

    AI-Focused Chip Provider Astera Labs Tees Up $507M IPO

    Astera Labs Inc., a provider of connectivity chips designed to boost the potency of artificial-intelligence software, on Friday set a price range on an estimated $507 million initial public offering, represented by Goodwin Procter LLP and underwriters counsel Simpson Thacher & Bartlett LLP.

  • March 08, 2024

    Pa. Court Grants Seizure Of Nursing Homes In 'Dire' Condition

    A Pennsylvania federal court has granted an emergency request for a receiver to take control of six nursing homes in the state that Revere Tactical Opportunities REIT LLC claims were left in a "dire financial condition" by the properties' owners, who had also allegedly defaulted on a $30 million loan.

  • March 08, 2024

    Ex-Private Funds Leader With Perkins Coie Jumps To MoFo

    The former chair of Perkins Coie LLP's private investment funds group has jumped to Morrison Foerster LLP in Denver.

  • March 08, 2024

    Longtime Cannabis Atty From Bressler Joins Fox Rothschild

    Fox Rothschild LLP announced that an experienced cannabis and financial services attorney who spent nearly two decades with Bressler Amery & Ross PC has moved to the firm's litigation practice as a partner in Morristown, New Jersey.

  • March 08, 2024

    Activist Battle Tips, 'Hair-Raising' Red Flags Detailed At Tulane

    Companies attending Tulane University Law School's annual Corporate Law Institute conference got distinctive insights into how they can responsibly fend off activist investor attacks, heard diverging views about activists' motivations, and were warned about potential red flags in board members' pasts. 

  • March 08, 2024

    Founder Of France's Believe Touts 1st Bid Over Rival Offer

    A consortium of investors looking to take over French digital music company Believe SA on Friday acknowledged a competing offer lobbed by entertainment conglomerate Warner Music Group while reiterating that it believes its own bid is "best positioned" to help the music company thrive.

Expert Analysis

  • Foreign Investment In Real Estate Is Getting More Complicated

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    Increasing federal scrutiny and a proliferation of new state laws targeting foreign investment in real estate may complicate or prevent transactions even by U.S. companies or funds that have shareholders or limited partners from China and other countries of concern, say attorneys at Akin.

  • Virginia 'Rocket Docket' Slowdown Is Likely A Blip

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    After being the fastest or second-fastest federal civil trial court for 14 straight years, the Eastern District of Virginia has slid to 18th place, but the rocket docket’s statistical tumble doesn't mean the district no longer maintains a speedy civil docket, says Robert Tata at Hunton.

  • Home Equity Option Contracts Appear Ripe For Rating

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    Given that home equity option contracts share similarities with evolving asset types like litigation funding, and that courts continue to characterize them as real estate option contracts, it seems they are poised to be rated in the near future, say Darius Horton and Holly Spencer Bunting at Mayer Brown.

  • Broadcast Deal Parties, Beware In-House FCC Hearings

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    Potential buyers and sellers in the telecom space should take note of the recent collapse of Standard General's attempted takeover of Tegna, which could not find its way out of a procedural maze created by the Federal Communications Commission's administrative law judge review, says Dennis Corbett at Telecommunications Law Professionals.

  • 'Varsity Blues' Reversal May Inform Conspiracy Defenses

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    The First Circuit’s recent decision vacating the convictions of two “Varsity Blues” defendants provides potential support for creative arguments against conspiracy charges, particularly where defense counsel can show competition or indifference among alleged co-conspirators, say Cormac Connor and Emily Mikes at Husch Blackwell.

  • 5 Management Tips To Keep Law Firm Merger Talks Moving

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    Many law firm mergers that make solid business sense still fall apart due to the costs and frustrations of inefficient negotiations, but firm managers can increase the chance of success by effectively planning and executing merger discussions, say Lisa Smith and Kristin Stark at Fairfax Associates.

  • SEC Agenda Indicates A Blistering Rulemaking Pace

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    The U.S. Securities and Exchange Commission's recently released agenda lists several major rule proposals slated for adoption in the second half of this year, reflecting the SEC's proactive shift toward taking final action on previously proposed rules pertaining to investment advisers, private funds and registered funds, say attorneys at Simpson Thacher.

  • Recent Bills Show Congress' Growing Maturity On Cannabis

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    Though two recently introduced cannabis reform bills, the Prepare Act and the Small Business Tax Equity Act, are unlikely to pass in this Congress, they demonstrate a new level of focus and sophistication on the part of lawmakers as it relates to cannabis at the federal level, says Irina Dashevsky at Greenspoon Marder.

  • Bank Agencies' 3rd-Party Risk Guidance: 6 Things To Know

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    Although third-party risk management is already a standard practice, final guidance recently issued by federal banking agencies indicates that banks should expect a heightened supervisory focus on this area, say attorneys at Covington.

  • Rethinking In-Office Attendance For Associate Retention

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    The hybrid office attendance model doesn't work for all employees, but it does for many — and balancing these two groups is important for associate retention and maintaining a BigLaw firm culture that supports all attorneys, says Summer Eberhard at Major Lindsey.

  • Practice Tips For Structuring Corporate Venture Capital Deals

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    With traditional financial venture capitalists scaling back and corporate venture capital emerging as a key player in the funding landscape, lawyers advising these strategic investments should limit exposure to competitive information and follow other best practices to minimize potential hazards, say Evan Kipperman and Paul Hughes at Wiggin and Dana.

  • SEC Form PF Amendments Show Private Fund Adviser Focus

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    The U.S. Securities and Exchange Commission recently adopted amendments to Form PF that will establish new event-reporting requirements for private equity and large hedge fund advisers, reflecting the SEC's increased attention on the private markets also seen in its stated examination priorities and latest rule proposals, say attorneys at King & Spalding.

  • Murdaugh Trials Offer Law Firms Fraud Prevention Reminders

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    As the fraud case against Alex Murdaugh continues to play out, the evidence and narrative presented at his murder trial earlier this year may provide lessons for law firms on implementing robust internal controls that can detect and prevent similar kinds of fraud, say Travis Casner and Helga Zauner at Weaver and Tidwell.

  • Firm Tips For Helping New Lawyers Succeed Post-Pandemic

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    Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.

  • Growing EU Scrutiny Increases Hurdles For Foreign Investors

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    The application of the EU Foreign Subsidies Regulation from July will bring further oversight to many large deals, and together with bolt-on strategies, foreign investment regulation and antitrust enforcement, financial sponsors will need to start planning for compliance to avoid potential delays, say Anna Mitchell and Neil Hoolihan at Linklaters.

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