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TOP NEWS Davis Polk, Latham Guide Game Maker Playtika's $1.9B IPO Mobile gaming company Playtika began trading on the Nasdaq Friday after pricing an upsized $1.9 billion initial public offering that was guided by Latham & Watkins LLP and Davis Polk & Wardwell LLP. Thoma Bravo's Cadwalader-Led SPAC Rakes In $900M Via IPO Shares for a special purpose acquisition company backed by private equity firm Thoma Bravo debuted on the stock exchange after the company landed $900 million in an initial public offering steered by Cadwalader Wickersham & Taft LLP and Latham & Watkins LLP that was among the largest of its kind to tap the market Friday. Investors Say Crypto Co. Status Research 'Tricked' Them Investors suing Swiss blockchain technology company Status Research urged a New York federal judge Thursday not to toss their proposed class action, arguing U.S. securities laws apply to the foreign company's unregistered digital tokens.
US Chides Vietnam Over Currency, But Makes No Tariff Threat The Office of the U.S. Trade Representative found that Vietnam's currency manipulation is unfairly hindering U.S. businesses but held off on teeing up new tariffs against Hanoi on Friday, leaving a final decision in the case up to the incoming Biden administration.
CRYPTOCURRENCY Chancery OKs TRO In Ripple Labs Investor Fight Delaware's Chancery Court issued a temporary restraining order Friday limiting California-based Ripple Labs Inc.'s cryptocurrency transactions and equity redemptions after investor Tetragon sued to halt any Ripple virtual currency purchases until Tetragon can sell back its stock. FOREIGN EXCHANGE COMMODITIES INTEREST RATES PEOPLE Taxation With Representation: Baker, Wachtell, Shearman In this week's Taxation With Representation, New Fortress Energy snaps up two liquefied natural gas firms for $5 billion, health care products company Steris buys Cantel Medical Corp. for $3.6 billion, and cryptocurrency platform Bakkt goes public. Simpson, Davis Polk Steer Dating App Bumble's IPO Filing Bumble, the women-talk-first dating app, hopes to hit it off with investors amid a robust initial public offerings market, filing plans to go public on Friday under guidance from Simpson Thacher and underwriters' counsel Davis Polk. 4 Legal Industry Trends Litigation Financiers Are Watching Some recent litigation developments demonstrate efforts by law firms and their clients to search for opportunities in the COVID-19 economic fallout, while others — such as the rise of contingency fee arrangements — reflect acceleration of tendencies that were already underway, says William Weisman at Therium Capital. Up Next At High Court: Media Diversity And Climate Suits The U.S. Supreme Court has a light workload in the week ahead, due in part to the chief justice's duty to administer President-elect Joe Biden's oath of office Wednesday. But the court will hear a pair of cases, both on Tuesday, about diversity in media ownership and where to file climate change lawsuits. Biden COVID-19 Team Taps Veteran Public Health Law Prof The incoming Biden administration has picked a veteran public health lawyer who teaches at Yale's law and medical schools as special counsel for its COVID-19 response team, the transition team announced Friday. Safety Fears Over Inauguration Spur Courthouse Closures Safety concerns have led federal courthouses in various jurisdictions to announce they will be limiting operations or closing ahead of the inauguration of President-elect Joe Biden. 'Reorganizing' Norton Rose Axes 132 Jobs In Europe, Asia Norton Rose Fulbright has slashed 132 jobs across Europe, the Middle East and Asia in what it called a reorganization into a "more efficient structure," with the bulk of the layoffs hitting its London office, the firm confirmed Friday. Boies Schiller Calif. Leader Accused Of Domestic Violence Joshua Schiller, an administrative partner of Boies Schiller Flexner LLP's West Coast operation and son of firm co-founder Jonathan Schiller, was arrested Thursday on a domestic violence charge in Ross, California, police confirmed Friday. Wells Fargo Ex-GC Fined $3.5M In OCC Settlement The Office of the Comptroller of the Currency said Friday it has fined Wells Fargo's former general counsel $3.5 million as part of a settlement resolving the agency's claims against him over his alleged role in the banking giant's sales practices scandal. LA Courts Criticized For COVID-19 Policies, Interpreter's Death The nonprofit Court Watch Los Angeles on Friday said Los Angeles Superior Court's lax COVID-19 safety protocols led to an interpreter dying from the virus, alleging his death is the result of "incoherent" COVID-19 policies that punish employees for attempting to quarantine after a possible exposure. Pandemic Again Delays Fired King & Spalding Atty's Trial King & Spalding LLP and a lawyer who said he was unlawfully fired for raising ethics concerns will have to wait until at least June to square off at trial, after concerns about the COVID-19 pandemic led a New York federal judge to scuttle plans to push forward in April. After 40 Years, NYC Mob Atty McMahon Still Won't Back Down For 40-odd years, Gerald McMahon has represented Mafiosi, crooked cops and drug kingpins, securing an enviable record of acquittals in the process. Law360 Pulse looks back at the career of one of New York City's most dogged criminal defense attorneys. Jones Walker Reelects Longtime Managing Partner Jones Walker LLP has reelected its longtime managing partner to another five-year term, reelected two members to its board of directors and promoted eight attorneys to partners in Miami, Houston, Atlanta and other offices. 7th Circ. Wary Of Blocking Wis. Mandatory Bar Membership A Seventh Circuit judge on Friday appeared skeptical of a Wisconsin attorney's arguments that mandatory state bar membership for attorneys is barred under the U.S. Supreme Court's landmark Janus ruling, which blocked mandatory union membership and dues, saying they're "not perfect equivalents." GC Cheat Sheet: The Hottest Corporate News Of The Week Microsoft's general counsel said the company's diversity bonus program for its outside law firms has shown significant results, and the EEOC said noncitizen overseas workers don't have to be counted as employees for age bias disclosures. These are some of the stories in corporate legal news you may have missed in the past week. In Case You Missed It: Hottest Firms And Stories On Law360 For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week. Podcast Law360's Pro Say: The Legal Fallout From The Capitol Attack It's been just over a week since a violent mob of Trump supporters stormed the U.S. Capitol, and the legal consequences of the attack are rapidly unfolding. Ga. Criminal Defense Atty At Capitol Riots Charged, Detained A criminal defense attorney from Georgia who was reportedly among the supporters of President Donald Trump who stormed the U.S. Capitol earlier this month, was arrested and hit with charges in federal court Friday, according to court records.
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