Private Equity

  • April 11, 2008

    Court Defines Exemptions To Short-Swing Profits Ban

    The U.S. Court of Appeals for the Second Circuit has upheld the dismissal of a shareholder derivative suit against private equity fund manager Perseus LLC, rejecting the plaintiff's arguments regarding who is exempt from a law governing short-swing profits earned by company insiders.

  • April 8, 2008

    SNCP Asks For New Deal, Delaying SCO's Ch. 11 Plan

    Bankrupt software company SCO Group Inc. has withdrawn its reorganization plan and put its Chapter 11 exit plan on hold, after a private equity firm said it was changing its plans to buy SCO's stock and underwrite its ongoing trademark and licensing litigation.

  • April 2, 2008

    Credit Crunch Hits Private Equity-Owned Cos.: Study

    The credit crunch has taken a toll on the value of private equity-owned companies, according to a study released Wednesday by the Center for Management Buy-Out Research.

  • April 17, 2008

    Middle Eastern Capital Fuels Boom In Islamic Finance

    Law firms are bolstering their Islamic finance practices as they look to help clients into the estimated $1 trillion in investment capital up for grabs in the natural-resource-rich Middle East. But experts say the skills of some attorneys being drawn to the burgeoning field lag behind their enthusiasm.

  • February 29, 2008

    Clear Channel Deal Prompts Suit Against Wachovia

    A Providence Equity Partners Inc. affiliate has sued Wachovia Bank NA in an attempt to force the bank to follow through on an earlier pledge to help finance the private equity firm's $1.1 billion purchase of 56 television stations from Clear Channel Communications Inc.

  • February 28, 2008

    DLA Piper Snags Heller Ehrman Life Sciences Chair

    DLA Piper is continuing to work toward establishing itself as a leader in the global life sciences marketplace, most recently by hiring experienced corporate attorney Bruce W. Jenett, former co-chair of the life sciences practice at Heller Ehrman LLP.

  • February 26, 2008

    Ex-Children's Place CEO Sues Over Annual Meeting

    The former chief executive of The Children’s Place Retail Stores Inc., who has publicly voiced his plans to make a bid to buy the specialty retailer, has filed suit against the company in an effort to push up a recently announced annual shareholder meeting.

  • February 26, 2008

    Dechert Snags Partner From Ropes & Gray

    Former Ropes & Gray LLP partner Kristopher D. Brown, who specializes in mergers and acquisitions and private equity in the life sciences and health care industries, has joined the corporate and securities group at Dechert LLP.

  • February 15, 2008

    U.S. Private Equity Firms Hit With Bid-Rigging Suit

    A group of the largest private equity firms in the U.S. is facing a purported class action by shareholders who claim the companies conspired to rig bids and divvy up the market for private equity services for leveraged buyouts.

  • February 15, 2008

    $60M Barclays Fraud Case Moves To Federal Court

    A battle between a major private equity fund and one of the world's largest investment banks over an alleged $60 million fraud will be decided by a federal court, now that the bank has successfully petitioned for transfer from a Texas state court.

  • February 14, 2008

    Clear Channel Selling Stations To Win Buyout OK

    The U.S. Department of Justice will allow a group of private equity investors led by Bain Capital and Thomas H. Lee Partners to buy out Clear Channel Communications, but only if the media conglomerate sells radio stations in four cities.

  • February 8, 2008

    ADS Drops Buyout Lawsuit Against Blackstone

    Just a few weeks after Alliance Data Corp. launched an offensive against Blackstone Group in an effort to force the private equity fund to complete its $6.4 billion buyout of ADS, the payment services company has dropped the suit.

  • February 4, 2008

    Subprime Crisis Lands Furniture Retailer In Ch. 11

    National furniture retailer Wickes Furniture Co. Inc. has filed for bankruptcy protection, saying a downturn in sales in the past year pushed the company into Chapter 11.

  • February 1, 2008

    Korean Court Finds Lone Star Funds, Exec Guilty

    A South Korean court found American private equity group Lone Star Funds and one of its top executives guilty of stock manipulation in the ill-fated 2003 acquisition of Korea Exchange Bank.

  • January 31, 2008

    U.S. Regulators Approve Midwest Airline Acquisition

    The U.S. Department of Justice has approved private equity group TPG Capital LP and Northwest Airlines Corp.'s $450 million acquisition of Midwest Air Group Inc., Midwest Airline's parent, a deal that had raised eyebrows within the antitrust community in recent months.

  • January 7, 2008

    Equity Firm Battles Grant Thornton In Refco Fraud Suit

    A private equity firm with a majority stake in the now-defunct Refco Inc. has defended its lawsuit against the company's auditor, scoffing at claims by Grant Thornton LLP that it was exempt from liability for the massive fraud that unraveled the broker.

  • December 17, 2007

    DOJ Called On To Scrutinize TPG-Midwest Deal

    Independent competition watchdog the American Antitrust Institute has issued a white paper raising concerns about private equity group TPG Capital LP and Northwest Airlines Corp.'s $450 million proposed acquisition of Midwest Air Group Inc., Midwest Airline's parent.

  • December 11, 2007

    DOJ Review Delays TPG's Midwest Air Acquisition

    Midwest Air Group Inc., parent of Midwest Airlines, said Friday that its $450 million proposed acquisition by private equity group TPG Capital LP will not close until at least the end of January because the U.S. Department of Justice has asked for more time to consider the deal.

  • December 4, 2007

    Private Equity Firm Opposes Sirius, XM Merger

    A minority-owned private equity firm filed its opposition to the proposed merger of Sirius Satellite Radio Inc. and XM Satellite Radio Holdings Inc., saying the deal runs afoul of antitrust laws.

  • November 30, 2007

    Private Equity Firm Faces Class Actions Over IPO

    Shareholders are starting to circle around Pzena Investment Management Inc. with lawsuits over the New York money manager's alleged failure to disclose an outflow of investment in one of the largest mutual funds under its control.