Once a taboo topic in the halls of BigLaw, litigation finance is winning over converts. And the peer pressure is building for rival law firms to join the bandwagon.
They often don’t know exactly what they’re buying, and there’s an ever-present chance they could come up empty in a given case. Here’s why investors are flocking to litigation finance anyway.
We asked, and you answered. Here are the results of Law360’s inaugural survey on third-party legal funding.
The Delaware bankruptcy judge presiding over the massive Energy Future Holdings Corp. case rejected Monday a bid by would-be buyer NextEra Inc. to halt his decision not to award a $275 million breakup fee during an appeal process, saying that such a move would be “premature.”
A Texas federal judge on Monday granted a bid from American Airlines and Allied Pilots Association to dismiss a suit brought by four former Trans World Airlines pilots alleging the airline and the union mishandled a dispute over their integration into the American pilot seniority list after American merged with TWA in 2001.
A deal between Disney and 21st Century Fox could come this week, Ascension Health and Providence St. Joseph Health are in talks to merge, and GGP has declined Brookfield Property Partners LP’s $14.8 billion buyout bid.
Materials science giant Corning Inc., with assistance from legal advisers Shearman & Sterling LLP and Skadden Arps Slate Meagher & Flom LLP, has inked a roughly $900 million cash deal to buy most of the communication markets business of 3M Co., the companies said on Monday.
A subsidiary of NXP Semiconductors NV’s largest shareholder, Elliott Management Corp., on Monday called Qualcomm Inc.’s $37.7 billion buyout bid for the company “low and opportunistic,” telling fellow shareholders in a letter that it believes NXP is worth $135 per share, valuing it at almost $45.8 billion.
Energy dealmaking in 2017 saw private equity firms continue to shower the oil and gas industry with cash, while a pair of power sector megadeals highlighted the hazy future facing independent power producers. Here are five mergers and acquisitions trends that stood out to energy attorneys this year.
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BNY Mellon Trust sued Yahoo Inc. successor Altaba Inc. for a 15 percent rise in shares due under a $1.4 billion notes-to-shares conversion agreement in Delaware’s Chancery Court on Friday, saying Yahoo’s sale to Verizon Inc. in June triggered the increase.
A Delaware Chancery judge ruled Friday that a lawsuit from pipe and brick company HBMA Holdings LLC over earnout payments from its $1.4 billion sale to Lone Star Funds belongs in arbitration, but it was too late for the seller to press claims in court if that process fails.
Oil and gas producer Vanguard Natural Resources LLC and affiliates told a Delaware federal judge on Thursday that the proposed representative for a class of investors in a merger fraud suit is too uninformed about the suit he supposedly brought to spearhead the case.
The House of Representatives approved a bill increasing the threshold at which small brokers must register with the Securities and Exchange Commission on Thursday, a move that backers said would reduce overly burdensome regulations.
The Boston Herald filed for Chapter 11 on Friday, with its publisher announcing plans to sell the tabloid to newspaper chain GateHouse Media LLC.
A Delaware bankruptcy judge gave Vitamin World Inc.’s auction the nod Friday after a last-minute change that brought in a new stalking horse bidder and upped the floor price to $28 million, staving off previous fears the chain would have to liquidate all of its roughly 300 locations.
Shares of Denali Therapeutics Inc. soared Friday after the company raised $250 million in an upsized initial public offering that amounted to the largest biotechnology IPO of 2017, leading one of three newly public companies that raised $506 million combined.
Biopharmaceutical firm Gilead Sciences Inc. said Thursday it will acquire private equity-backed biotechnology company Cell Design Labs Inc. for $567 million in a deal that will see Gilead build up its cell therapy capabilities even more.
U.S. District Judge Richard J. Leon on Thursday set a March 19 bench trial in the government’s challenge of AT&T’s $85.4 billion deal to purchase Time Warner Inc., rejecting AT&T's request for an earlier trial date.
Millennials are now the largest living generation and comprise one-third of jurors. While it is impossible to generalize a group so large and diverse, trial lawyers should be mindful of certain generational differences, say baby boomer Lee Hollis and millennial Zachary Martin of Lightfoot Franklin & White LLC.
The United Kingdom has a voluntary merger control regime, and many companies choose not to notify transactions to the Competition and Markets Authority. However, it may be preferable to notify the CMA of an anticipated merger in order to avoid seriously disruptive initial enforcement orders, say Douglas Lahnborg and Saira Henry of Orrick Herrington & Sutcliffe LLP.
When a borrower finds itself in a distressed situation, management or private equity sponsors will often identify valuable assets to isolate them from the distressed company, often to the detriment of certain creditors. A recent example involving Algeco Scotsman offers important takeaways for issuers as well as bondholders, say Adam Summers and Corey Fersel of Fried Frank Harris Shriver & Jacobson LLP.
Many corporate executives and advisers expect the market for M&A to strengthen next year. Here, Jeffrey Gifford and Meagan McKeown of Dykema Gossett PLLC discuss why deal makers are optimistic.
While the advantages of arbitration are well known, they can become disadvantages for the unwary. Carl Jenkins and A. Scott Davidson of Duff and Phelps Corp. offer suggestions from their experiences as arbitrators, arbitration panel members, expert witnesses and consultants.
The New York high court’s recent holding in Davis v. Scottish Re Group removes a significant practical hurdle to bringing derivative claims involving Cayman Islands corporations. With the Cayman leave-of-court rule out of the picture, shareholders need not arrive at the courthouse door already equipped with evidence to support their claim, say Rob Quirk and Stephen Younger of Patterson Belknap Webb & Tyler LLP.
In a recent study, 20 out of 25 law firms surveyed have made billing process improvement a top priority for 2018. Firms can foster consistency and increase efficiency at all stages of their billing cycle by focusing on a few specific procedures, say Sharon Quaintance and Christine Indiano at HBR Consulting.
There are several different approaches to selecting the CEO and other senior executives of a joint venture. The challenge for venture parties and their advisers is to select an approach and adapt it to suit their particular circumstances, say Stephen Glover and Alisa Babitz of Gibson Dunn & Crutcher LLP.
The Fifth Circuit is among the busiest federal circuit courts in the country. What can you do to increase your chances of reaching oral argument? And if given the opportunity, how can you present a persuasive argument? Former Fifth Circuit clerk Justin Woodard, an associate at Jones Walker LLP, shares some advice.
Having just completed a six-year term as chair of the U.S. Sentencing Commission, I read Yale Law School professor James Forman's new book, "Locking Up Our Own: Crime and Punishment in Black America," with particular interest, says Judge Patti Saris, chief judge for the U.S. District Court for the District of Massachusetts.