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Private Equity

  • November 28, 2018

    'Stock Promoter' Made Sham Trades To Lure Investors: SEC

    The U.S. Securities and Exchange Commission filed a complaint in Massachusetts federal court Wednesday alleging the founder of private equity firm Ridgeview Capital Partners LLC placed buy and sell orders simultaneously to give others a false impression of trading activity.

  • November 28, 2018

    Deals Rumor Mill: Sears, Murphy Oil, GSK

    Cyrus Capital Partners could team up with the Sears chairman’s hedge fund to bid for Sears, Murphy Oil Corp. is reportedly discussing a deal to sell Malaysian oil and gas assets, and Unilever is the leading bidder for GlaxoSmithKline’s Indian consumer health unit.

  • November 28, 2018

    Goodwin-Led Biotech Co. Moderna Sets Sights On $500M IPO

    Massachusetts-based biopharmaceutical firm Moderna Inc. on Wednesday said it expects to bring in $500 million at the midpoint of its price range for its upcoming initial public offering, led by Goodwin Procter LLP.

  • November 28, 2018

    AMCI Closes $220M IPO To Acquire Natural Resources Co.

    AMCI Acquisition Corp. on Tuesday closed on an initial public offering that raised more than $220 million, represented by Ellenoff Grossman & Schole LLP, money the blank check company will use to pursue an acquisition in natural-resources related industries.

  • November 28, 2018

    Bandera Partners Seeks Shake-Up On Luby's Board

    Bandera Partners LLC on Wednesday issued a public letter to the board of directors for Luby’s Inc., the Texas-based restaurant group behind Fuddruckers and other eateries, saying the debt-ridden company has failed to turn things around and should consider the addition of five new directors.

  • November 28, 2018

    How To Make The Most Of Impact Fund Formation

    As private equity and other investors increasingly consider the effects their investments will have on society, attorneys should spend time becoming familiar with the formation process for so-called impact funds, which aim to contribute to social good, while staying abreast of the unique legal challenges that may arise.

  • November 28, 2018

    Maverick Capital Keeps Claims In Solar Fraud Suit

    An Arizona federal judge has refused to toss the bulk of claims made by funds associated with Maverick Capital Ltd. that accused First Solar Inc. of misrepresenting the success of its solar projects in a scheme that cost investors after the problems were revealed and the stock crashed.

  • November 28, 2018

    Davies Ward, Osler Hoskin Steer $150M Plusgrade Investment

    Canadian institutional investor Caisse de dépôt et placement du Québec has agreed to make a CA$200 million ($150.7 million) investment in private equity-backed travel-software company Plusgrade, the companies said Wednesday, in a deal steered by Davies Ward Phillips & Vineberg LLP and Osler Hoskin & Harcourt LLP.

  • November 28, 2018

    Investcorp Drops $311M On 6 Properties In Fla., Texas, Utah

    Investment adviser Investcorp on Wednesday said it has bought six multifamily properties boasting a combined 2,876 units in Florida, Texas and Utah for $311 million.

  • November 27, 2018

    Body Glove Owner Put Squeeze On Asia Licensee, Jury Told

    The Asia licensee for surf brand Body Glove told a California federal jury during opening statements Tuesday that Body Glove's new private equity owner breached their deal, using "bullying tactics" in a wrongful bid to take back rights to sell in that region without paying.

  • November 27, 2018

    Tesla Tweet Suits Combined With Levi & Korsinsky At Helm

    A California federal judge on Tuesday chose a Levi & Korsinsky LLP-represented trader as lead plaintiff in a slew of class actions seeking to hold Tesla and Elon Musk accountable for two August tweets that roiled the company’s stock price.

  • November 27, 2018

    Brazil Utility Cancels Offering, Citing Market Woes

    Brazilian electric utility Light SA on Tuesday said it stopped weighing a potential share offering after its three controlling shareholders disapproved of part of the potential plans at a Monday meeting due to market conditions.

  • November 27, 2018

    Sears Gets OK For $2B In DIP Financing

    A New York bankruptcy judge Tuesday gave Sears Holding Corp. permission to take out more than $2 billion in debtor-in-place financing after last-minute talks and bidding cleared up creditor objections to a portion of the financing agreement.

  • November 27, 2018

    'Idol' Lenders Grilled Over Apollo Fraudulent Transfer Suit

    A New York bankruptcy judge on Tuesday pressed attorneys for creditors of the failed company behind “American Idol” to justify fraudulent transfer claims accusing Apollo Global Management of sinking the company by making a valid prepetition payment to cover a $93 million case judgment.

  • November 27, 2018

    Calif. Developer Tries To Dodge SEC EB-5 Fraud Claims

    A California real estate developer asked a federal court on Monday to toss allegations by the U.S. Securities and Exchange Commission that he was involved in a scheme to defraud Chinese investors out of $9.5 million through the EB-5 visa program.

  • November 27, 2018

    Deals Rumor Mill: Bain, Goodnight Midstream, Meraas

    Bain Capital is mulling a deal for German lighting maker Osram Licht, Goodnight Midstream could either sell itself or go public, and Brookfield Asset Management is considering investing in Emirati real estate company Meraas.

  • November 27, 2018

    Fairway Energy Hits Del. Ch. 11 With $100M Debt, Sale Aim

    Houston-based underground oil storage company Fairway Energy LP sought Chapter 11 protection in Delaware late Monday after hitting the edge of default on most of its $100 million debt, with an initial filing reporting plans for a bankruptcy sale.

  • November 27, 2018

    4 Firms Guide PE-Backed Canada Goose's Secondary Offering

    Canada Goose Holdings Inc. on Monday filed plans for a secondary offering of 10 million shares that would enable stockholders to trim their stakes in the private equity-backed outerwear retailer and reap proceeds that could exceed $600 million, in a deal guided by four law firms.

  • November 27, 2018

    Reed Smith Snags M&A, PE Specialist From Goodwin

    Reed Smith LLP has once again added firepower to its corporate practice, bringing in private equity and transactional specialist Julia Boyd from Goodwin Procter LLP to the firm’s New York office.

  • November 27, 2018

    Ropes & Gray Helps Main Post Land $700M For 2nd PE Fund

    San Francisco-based private equity firm Main Post Partners, with help from legal adviser Ropes & Gray LLP, has clinched its sophomore investment vehicle after bringing in $700 million from limited partners, the firm announced Tuesday.

Expert Analysis

  • 10 Best Practices For Due Diligence In AI Transactions

    Lee Tiedrich

    When approaching M&A, investments and other transactions associated with artificial intelligence, we must take into consideration the nature of the technology today, the anticipated technological developments and the evolving legal landscape, say Lee Tiedrich and Daniel Gurman of Covington & Burling LLP.

  • Key Trends In Midstream Oil And Gas Deals: Part 2

    Greg Krafka

    A deep dive into data on deal terms in midstream oil and gas acquisition agreements reveals significant insights on “what’s market” and what's not in such deals. As compared to a broad cross-section of agreements across industries, the midstream M&A acquisition agreements studied generally allocated more of the risks — especially unknown risks — to buyers, says Greg Krafka of Winstead PC.

  • Leveraging Today's Lateral Associate Market

    Darin Morgan

    With the Milbank/Cravath pay scale once again equalizing compensation at many Am Law 100 firms, there is even more pressure for firms to differentiate themselves to top lateral associate candidates. This presents strategic considerations for both law firms and lateral candidates throughout the recruitment process, says Darin Morgan of Major Lindsey & Africa.

  • Key Trends In Midstream Oil And Gas Deals: Part 1

    Greg Krafka

    The Private Target Mergers & Acquisitions Deal Points Studies prepared by the American Bar Association’s Business Law Section have been a key resource for M&A attorneys for over a decade. In this two-part article, Greg Krafka of Winstead PC examines data from the most recent study and other sources to systematically identify “what’s market” concerning deal terms in midstream oil and gas acquisition agreements.

  • Q&A

    Back To School: Stanford's Jeff Fisher Talks Supreme Court

    Jeffrey Fisher

    In this series featuring law school luminaries, Stanford Law School professor Jeffrey Fisher discusses his motivation for teaching, arguing before the U.S. Supreme Court and what the court might look like if Judge Brett Kavanaugh is confirmed.

  • Where Have The SEC Enforcement Actions Gone?

    Kurt Wolfe

    There has been a dip in the number of enforcement actions from the U.S. Securities and Exchange Commission during Chairman Jay Clayton’s tenure, but this decline does not tell the whole story. The commission is still bringing a historically high volume of actions — they just happen to be in slightly different areas, says Kurt Wolfe of Troutman Sanders LLP.

  • Calif.'s New Rules For Lawyers Move Closer To ABA Model

    Mark Loeterman

    The first comprehensive overhaul of California's Rules of Professional Conduct in nearly 30 years becomes operational on Nov. 1. Some of the new rules mirror the model language used by the American Bar Association, but many continue to reflect California’s unique approach to certain ethical questions, says Mark Loeterman of Signature Resolution LLC.

  • Know The Limits To Atty Public Statements During A Trial

    Matthew Giardina

    The balancing act between protecting attorneys’ speech rights and ensuring unbiased adjudications was highlighted recently in two cases — when Michael Cohen applied for a restraining order against Stephanie Clifford's attorney, and when Johnson & Johnson questioned whether a Missouri talc verdict was tainted by public statements from the plaintiffs' counsel, says Matthew Giardina of Manning Gross & Massenburg LLP.

  • In Calif., Questions Remain On Law Firm Conflict Waivers

    Richard Rosensweig

    In Sheppard Mullin v. J-M Manufacturing Co., the California Supreme Court ruled last month that a law firm's failure to disclose a known conflict with another current client did not categorically disentitle the firm from recovering fees. But the court didn’t provide hoped-for guidance on how to write an enforceable advance conflict waiver, says Richard Rosensweig of Goulston & Storrs PC.

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

    Melanie Green

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.