Private Equity

  • May 21, 2024

    LoanDepot's $3.5M Deal In IPO Disclosure Suit Gets Final OK

    A California federal judge has granted final approval to LoanDepot's $3.5 million settlement in a suit alleging it misled investors leading up to the company's initial public offering, despite a shareholder's objection that the settlement is insufficient.

  • May 21, 2024

    PE Firms Close Separate Funds With Nearly $1.3B Total In Tow

    Winston & Strawn LLP-advised private equity shop Paceline Equity Partners LLC and Kirkland & Ellis LLP-advised private equity firm Eir Partners on Tuesday separately announced that they have clinched funds totaling nearly $1.3 billion combined, with the former's fund focusing on corporate debt and real assets and the latter's targeting healthcare technology investments.

  • May 21, 2024

    Tuna Buyers Seeking $1B In July Price-Fixing Trial

    Tuna buyers who are taking StarKist, its parent company and a private investment firm that put money into Bumble Bee Foods to trial on allegations of conspiring to hike the price of the tinned fish will be asking for over $1 billion in damages once all is said and done.

  • May 21, 2024

    4th Circ. Told Justices' Ruling Dooms Bid To Delay $811M Fine

    The Consumer Financial Protection Bureau has pointed to the U.S. Supreme Court's recent decision finding the agency's funding structure constitutional to head off a bid by immigrant bond companies accused of abusive bonding practices to delay an $811 million judgment.

  • May 21, 2024

    Fanatics Atty Rejoins Cleary As Debt Finance Partner

    An in-house attorney for global sports enterprise Fanatics Holdings Inc. is returning to private practice at Cleary Gottlieb Steen & Hamilton LLP, where he began his legal career.

  • May 21, 2024

    Scale AI Valued At $14B After Series F Round Led By Accel

    San Francisco-based artificial intelligence company Scale AI on Tuesday announced that it hit a nearly $14 billion valuation after closing its latest financing round with $1 billion in tow.

  • May 21, 2024

    Carlyle Wraps 5th Japanese Buyout Fund With $2.8B In Capital

    Private equity giant Carlyle on Tuesday announced that it clinched its fifth Japanese buyout fund after securing 430 billion yen ($2.8 billion) from investors.

  • May 21, 2024

    Strategic Hiring Was The New Normal For BigLaw In 2023

    The 400 largest law firms by headcount in the U.S. grew more slowly in 2023 than in the previous two years, while Kirkland & Ellis LLP surpassed the 3,000-attorney threshold, according to the latest Law360 ranking.

  • May 21, 2024

    The Law360 400: Tracking The Largest US Law Firms

    The legal market expanded more tentatively in 2023 than in previous years amid a slowdown in demand for legal services, especially in transactions, an area that has been sluggish but is expected to quicken in the near future.

  • May 21, 2024

    Skadden Reps MasterBrand On $520M Supreme Cabinetry Buy

    Skadden Arps Slate Meagher & Flom LLP is guiding Ohio-based cabinetry company MasterBrand Inc. on a newly inked plan to buy Minnesota-based competitor Supreme Cabinetry Brands Inc. from private equity firm GHK Capital Partners LP for $520 million, MasterBrand said in a Tuesday statement.

  • May 21, 2024

    Freshfields Helps Warburg Pincus Buy Insurance Intermediary

    Private equity giant Warburg Pincus and Temasek of Singapore will buy Specialist Risk Group, a London-headquartered company that has brokered more than £1 billion ($1.3 billion) worth of insurance risk, the companies said on Tuesday.

  • May 20, 2024

    Archegos Lied To Banks To Obtain Credit Lines, Jury Told

    The former director of risk management at the fallen private capital fund Archegos told a Manhattan federal jury Monday that he lied to banks about the fund's portfolio to induce them to extend lines of credit at the direction of his former boss, Archegos Chief Financial Officer Patrick Halligan.

  • May 20, 2024

    Chancery Preserves Most Of Super Group SPAC Suit

    A shareholder of a blank-check company who's suing its sponsor and top leaders in Delaware's Court of Chancery got the green light Monday to move ahead with most of his proposed class claims related to the SPAC's $4.75 billion merger with the online sports betting company that runs online casinos Betway and Spin.

  • May 20, 2024

    Catching Up With Delaware's Chancery Court

    Delaware was full of drama last week, as proposed changes to the state's corporate law statutes raised eyebrows and a professor's friend-of-the-court brief sparked a very unfriendly public exchange. Delaware's court of equity banged the gavel on pipeline and social media disputes, and shareholders filed new suits alleging insider trading, vote bungling, unfair stock buybacks and merger shenanigans. In case you missed any of it, here's the recap of all the top news last week from Delaware's Chancery Court.

  • May 20, 2024

    VC Firm To Take Israeli Software Biz Private In $150M Deal

    Artificial intelligence-fueled customer intelligence solutions provider Glassbox said Monday it's agreed to be bought by longtime investor venture capital firm Alicorn Venture Partners, in an all-cash, take-private deal valued at around $150 million and led by Herzog Fox & Neeman and Fischer (FBC & Co.).

  • May 20, 2024

    Shah Ends Novavax Proxy Fight Following Sanofi Deal

    Hedge fund Shah Capital Management Inc. told fellow Novavax Inc. shareholders Monday that it is ending its fight to remove certain members of the biotech company's board, citing its favorable view of Novavax's licensing deal with Sanofi earlier this month.

  • May 20, 2024

    Simpson Thacher Leads Blackstone In $705M Biltmore Sale

    Blackstone said Monday it has closed the sale of the Arizona Biltmore in Phoenix to private equity real estate firm Henderson Park for $705 million, confirming January reports that the transaction was under contract and revealing Simpson Thacher & Bartlett LLP and Jones Day as counsel behind the deal.

  • May 20, 2024

    Latham-Led CyberArk Buying PE-Backed Venafi In $1.54B Deal

    Latham & Watkins LLP is guiding Newton, Massachusetts-based CyberArk on a new deal to buy fellow cybersecurity company Venafi from Chicago-based private equity firm Thoma Bravo, represented by Kirkland & Ellis LLP, at an enterprise value of $1.54 billion, CyberArk said Monday. 

  • May 20, 2024

    Video Gaming Biz 'Minded' To Back £2B EQT Takeover Offer

    Gaming services group Keywords Studios PLC said Monday that it could back a £2 billion ($2.5 billion) proposed takeover bid from EQT, after it rejected four earlier possible offers from the Swiss private equity shop.

  • May 17, 2024

    Judge Doubts 9th Circ. Ruling Upends VC's Fraud Conviction

    A California federal judge appeared skeptical Friday of convicted self-described "millennial" venture capitalist Michael Rothenberg's renewed request for a new trial or acquittal in light of a recent Ninth Circuit decision clarifying "materiality" in the federal criminal fraud statutes, doubting that Rothenberg was prejudiced by jury instructions addressing materiality.

  • May 17, 2024

    T-Mobile Must Face Sprint Merger Suit Before Appealing

    The Seventh Circuit summarily rejected T-Mobile's move for interlocutory appeal in a proposed consumer class action targeting the company's 2020 merger with Sprint, allowing the case to advance to discovery after the district court denied T-Mobile's motion to dismiss in the fall.

  • May 17, 2024

    Kohl's Directors' Aversion To Sale Was Self-Serving, Suit Says

    A Kohl's shareholder has hit the retailer's brass with a derivative suit alleging they covered up the results of a disastrous shift in business strategy and takeover offers, all in a bid to protect their own positions.

  • May 17, 2024

    RedBird Flags Brookfield 'Gamesmanship' In Chancery Suit

    Private investment firm RedBird Capital Partners has urged Delaware's Court of Chancery to strike unauthorized motions by Brookfield Infrastructure Partners seeking dismissal of a RedBird suit to recover a $150 million escrow included in a $5.7 billion sale of data centers to Brookfield affiliates last year.

  • May 17, 2024

    Debevoise Hires Former Clifford Chance US Antitrust Head

    Tim Cornell, former head of the U.S. antitrust group at Clifford Chance LLP, will join Debevoise & Plimpton LLP's Washington, D.C., office as partner, Debevoise announced Friday.

  • May 17, 2024

    Chicago Tribune Accused Of Underpaying Female, Black Staff

    A group of Chicago Tribune journalists sued the paper and its parent Alden Global Capital in Illinois federal court on Thursday alleging sex and race discrimination that has caused more than 50 reporters and editors to get paid thousands of dollars per year less than their white male colleagues.

Expert Analysis

  • Mitigating Incarceration's Impacts On Foreign Nationals

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    Sentencing arguments that highlighted the disparate impact incarceration would have on a British national recently sentenced for insider training by a New York district court, when compared to similarly situated U.S. citizens, provide an example of the advocacy needed to avoid or mitigate problems unique to noncitizen defendants, say attorneys at Lankler Siffert.

  • Exploring An Alternative Model Of Litigation Finance

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    A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.

  • Series

    Teaching Yoga Makes Me A Better Lawyer

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    Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.

  • A Vision For Economic Clerkships In The Legal System

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    As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.

  • Pay-To-Play Deal Shows Need For Strong Compliance Policies

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    The U.S. Securities and Exchange Commission, through its recent settlement with Wayzata, has indicated that it will continue stringent enforcement of the pay-to-play rule, so investment advisers should ensure strong compliance policies are in place to promptly address potential violations as the November elections approach, say attorneys at WilmerHale.

  • 7 Effects Of DOL Retirement Asset Manager Exemption Rule

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    The recent U.S. Department of Labor amendment to the retirement asset manager exemption delivers several key practical impacts, including the need for managers, as opposed to funds, to register with the DOL, say attorneys at Ropes & Gray.

  • Standardizing Early Case Appraisal In Securities Class Actions

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    While an initial economic assessment of securities class action litigation is far too often not undertaken, it's an important step in planning the defense strategy that can provide counsel, clients and insurers with a much clearer view of the case, and can be simplified through standardized analyses, says Assen Koev at SCA iPortal.

  • Del. Ruling Highlights M&A Deal Adviser Conflict Disclosures

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    The Delaware Supreme Court recently reversed the Court of Chancery's dismissal of challenges to Nordic Capital's acquisition of Inovalon, demonstrating the importance of full disclosure of financial adviser conflicts when a going-private merger seeks business judgment rule review, say attorneys at Debevoise.

  • 8 Legal Issues Influencing Investors In The Creator Economy

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    The rapidly expanding digital creator economy — funding for which more than doubled in the U.S. in the first quarter — comes with its own set of unique legal issues investors must carefully consider before diving in, say Louis Lehot and Alan Pate at Foley & Lardner.

  • E-Discovery Quarterly: Recent Rulings On Text Message Data

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    Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.

  • Dual-Track IPO-M&A Exit Strategies For Life Science Cos.

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    A dual-track process for life sciences companies offers a proven path to securing favorable deal terms for an exit, and strategic moves can include running a crossover financing round in the lead-up, say attorneys at McDermott.

  • PE In The Crosshairs Of Public And Private Antitrust Enforcers

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    A series of decisions from a California federal court in the recently settled Packaged Seafood Products Antitrust Litigation, as well as heightened scrutiny from federal agencies, serve as a reminder that private equity firms may be exposed to liability for alleged anti-competitive conduct by their portfolio companies, say attorneys at Axinn.

  • Series

    Swimming Makes Me A Better Lawyer

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    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.

  • Mid-2024 FCA Enforcement And Litigation Trends To Watch

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    Reviewing notable False Claims Act trends and enforcement efforts in the last year and a half reveals that healthcare is a key enforcement priority for the U.S. Department of Justice, and the road ahead may bring clarification on Anti-Kickback Statute causation and willfulness standards, along with increased focus on private equity, cybersecurity and self-disclosure, say attorneys at Epstein Becker.

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

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    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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