Private Equity

  • March 25, 2024

    Catching Up With Delaware's Chancery Court

    Last week in Delaware's Court of Chancery, litigants battled as Truth Social went public, Carl Icahn and Tripadvisor hit a roadblock, and more shareholders wailed about "invasive" bylaws. Oil drilling and pharmaceutical mergers sparked new lawsuits, and a sewing machine trademark owner sued to end a contract.

  • March 25, 2024

    Trian, Blackwells Double Down On Disney Activist Campaigns

    As The Walt Disney Company's annual shareholder meeting approaches, two activist investors are ramping up their campaigns against the storied entertainment company and imploring fellow shareholders to vote for their separate slate of director candidates at the April 3 gathering.

  • March 25, 2024

    MNC Capital Ups Vista Outdoor Takeover Bid To $3B

    Dallas, Texas-based investment firm MNC Capital Partners on Monday upped its proposed takeover bid of Vista Outdoor Inc. by approximately $1 billion after the company rejected its initial offer, now offering roughly $3 billion to purchase the sporting and outdoor products company.

  • March 25, 2024

    Amex GBT To Buy CWT In Deal Valued At $570M

    American Express Global Business Travel announced Monday that it has agreed to purchase CWT in a transaction that values the global business travel and meetings solutions provider at about $570 million.   

  • March 25, 2024

    Northwind Breaks Office Lending Drought With $65M Loan

    Northwind Group announced Monday it has loaned $65 million to the new owner of a 33-story Class A office building in Jersey City, New Jersey, known as Harborside 5, marking the first office loan the private equity firm has extended in three years.

  • March 25, 2024

    Kirkland Guides Ingersoll Rand On $2.3B ILC Dover Buy

    Kirkland & Ellis LLP is representing Ingersoll Rand on a new agreement to buy ILC Dover from private equity firm New Mountain Capital for more than $2.3 billion, part of Ingersoll's plan to bolster its life sciences business, the industrial products company said Monday. 

  • March 25, 2024

    FTX Clawbacks Unlikely To Help Bankman-Fried At Sentencing

    FTX founder Sam Bankman-Fried probably won't find much success in arguing for a shorter prison term based on the billions of dollars recovered by the shuttered crypto exchange's bankruptcy estate, experts told Law360 ahead of this week's much-anticipated sentencing hearing.

  • March 25, 2024

    KKR To Complete £1.3B Takeover, Delist Smart Metering Co.

    Private equity giant KKR said Monday that it will complete its £1.3 billion ($1.6 billion) takeover of a British energy infrastructure company and take its shares off the London Stock Exchange.

  • March 22, 2024

    Cheerleading Giant Varsity Spirit Must Face Antitrust Suit

    A Texas federal court has refused to toss a suit accusing Varsity Spirit of working with competitive cheerleading governance bodies to boycott potential rivals and maintain its dominance over the sport.

  • March 22, 2024

    Trump Media SPAC CEO Accused Of Misleading Investors

    A sponsor of the special-purpose acquisition company approved to take Donald Trump's social media website public has sued its CEO in Florida federal court, saying a "coup d'etat" was orchestrated to oust the former leader and mislead investors in an effort to assume control over the enterprise.

  • March 22, 2024

    Reddit's Robust Debut Bodes Well For Tech IPOs

    Social media platform Reddit Inc.'s strong debut following its $748 million initial public offering could provide fresh momentum for a sizable pipeline of venture-backed technology companies exploring IPO plans, capital markets advisers say.

  • March 22, 2024

    Starboard Value Eyes Board Seats At Algonquin Power

    Canadian utility company Algonquin Power & Utilities Corp. on Friday said its board of directors will review director nominees submitted by activist investor Starboard Value LP, who said the company's current board has a "long history of making value-destructive decisions" and needs to be refreshed.

  • March 22, 2024

    Legal Tech Execs Can't Arbitrate ESOP Valuation Fight 

    A legal technology company's executives and related entities can't arbitrate a proposed class action alleging they undervalued the company's shares when shutting down its employee stock ownership plan, thereby costing participants $35.4 million, a Georgia federal judge ruled, finding the plan's arbitration clauses blocked remedies allowed by federal benefits law.

  • March 22, 2024

    Lewis Brisbois Accused Of Filing 'Sham' Suits To Avert Fault

    A group of 185 Chinese investors have accused Lewis Brisbois Bisgaard & Smith LLP attorneys of filing numerous lawsuits — and collecting $3.8 million in legal fees — to cover for failing to read "draconian" contract terms that led the investors to lose their $92.5 million stake in a $2.5 billion Los Angeles mixed-use development.

  • March 22, 2024

    87-Year-Old Billionaire Lewis Seeks No Jail For Insider Trading

    Lawyers for British billionaire Joe Lewis have asked a Manhattan federal judge not to impose any prison time after his plea to insider trading, saying a term of probation is appropriate because the 87-year-old is "nearing the end of life in declining health."

  • March 22, 2024

    Galderma Starts Trading In Switzerland After Pricing IPO

    Private equity-backed Swiss skincare company Galderma Group AG began trading publicly Friday after pricing its $2.4 billion initial public offering, marking the next stage of its growth trajectory.

  • March 22, 2024

    Trump Wins Investor Approval Of Truth Social SPAC Deal

    Digital World Acquisition Corp. shareholders on Friday approved a proposal to acquire former President Donald Trump's social media platform, setting in motion long-delayed plans to take Trump's startup public despite unresolved litigation tied to the merger.

  • March 22, 2024

    KKR Becomes Controlling Shareholder In Smart Meter Co.

    KKR said Friday that it has "significant control" over a British energy infrastructure company after more than 60% of shareholders tendered their shares to the U.S. private equity giant under a £1.3 billion ($1.6 billion) takeover offer.

  • March 21, 2024

    Burford, Sysco Get OK To Swap Bid In Price-Fixing Cases

    An Illinois federal judge on Thursday agreed to allow an affiliate of legal investment firm Burford Capital to substitute for food giant Sysco in price-fixing litigation against broiler chicken producers, a ruling that comes a month after a Minnesota federal judge refused to allow the same Burford unit to substitute for Sysco in similar pork and beef price-fixing litigation.

  • March 21, 2024

    Chief Of Bogus PE Firm Gets 6 Years For $10M Affinity Fraud

    The Colorado-based CEO of a purported investment firm faces nearly six years in prison after pleading guilty to securities fraud in connection with a $10.4 million scheme targeting West Point grads and involving claims he planned to invest in a trio of Italian cycling companies.

  • March 21, 2024

    Developer Says Partner Mishandled Funds In Denver Project

    A real estate developer and a related online platform have accused a hedge fund in Colorado state court of misusing grant money and owing fees for a Denver commercial housing project.

  • March 21, 2024

    Varsity Cheer Victim Sees Claims Cut In NC Sex Abuse Suit

    Two North Carolina cheer coaches and the U.S. All Star Federation have escaped claims they flouted federal law by failing to report the sexual abuse of a young athlete, with a judge finding they can't be held liable for "aiding and abetting" the alleged abuse.

  • March 21, 2024

    UpHealth Claims $110M Win In Glocal Control Fight

    Global digital health company UpHealth Inc. says an arbitral panel has awarded it more than $110 million following a dispute that arose out of its subsidiary's acquisition of Glocal Healthcare Systems in 2020 — even as Glocal decried the award as "one-sided and perverse."

  • March 21, 2024

    Unabomber Prosecutor To Probe FTX's Sullivan & Cromwell Ties

    The Delaware bankruptcy court overseeing the Chapter 11 case of FTX Trading Ltd. has approved the appointment of a former federal prosecutor, whose experience includes work on the Unabomber case, to delve into accusations Sullivan & Cromwell is conflicted as debtor's counsel.

  • March 21, 2024

    Directors Of Public Cos. Back Trian CEO Amid Disney Proxy Fight

    Thirteen current and former public company directors, all of whom have worked with Trian Fund Management and CEO Nelson Peltz, sent a letter to The Walt Disney Company's board of directors Thursday highlighting why they believe Peltz would make a good addition to the board amid a heated proxy battle.

Expert Analysis

  • Vice Bankruptcy Ruling Shows Contract Assignment Issues

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    A New York bankruptcy court’s recent ruling in Vice Media’s Chapter 11 case is likely to have implications for other cases involving the assignment of contracts by corporate entities, and may signal that Showtime will still face an uphill battle in trying to prove that its contract constituted personal services, says Debra Dandeneau at Baker McKenzie.

  • Level Up Lawyers' Business Development With Gamification

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    With employee engagement at a 10-year low in the U.S., there are several gamification techniques marketing and business development teams at law firms can use to make generating new clients and matters more appealing to lawyers, says Heather McCullough at Society 54.

  • 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.

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