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Private Equity
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May 16, 2025
No 'Magic Words' Needed To Sue KKR For Hiding Deals, DOJ Says
KKR is trying to duck a U.S. Department of Justice lawsuit seeking fines that could top $650 million, by reading standards for seeking penalties that are not there, the government said Thursday, defending claims that the private equity giant failed to notify two mergers and deleted key documentation from notifications.
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May 16, 2025
IPO Pipeline Restarts As Tariff-Related Volatility Eases
Initial public offerings are showing life again after a tariff-induced slumber, buoyed by strong debuts and a growing pipeline as more venture-backed technology startups are lining up public listings before Memorial Day and into June.
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May 16, 2025
Food Delivery App's $80M Investor Settlement Gets Final OK
Investors suing mobile food delivery and ride-hailing services operator Grab Holdings Ltd. have received final approval of an $80 million deal settling claims that several sections of a proxy statement Grab filed with a special purpose acquisition company were false and misleading.
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May 16, 2025
Feds Say Con Man Galanis Can't Recoup $2M Despite Clemency
Prosecutors have asked a New York federal judge to deny a request from convicted fraudster Jason Galanis to recoup $2.17 million he paid in criminal fines, after his nearly 16-year prison sentence was commuted by President Donald Trump.
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May 16, 2025
PHP Ups Takeover Offer For Assura To £1.7B
Real estate investment manager Primary Health Properties PLC on Friday announced an increased proposal to acquire property manager Assura in a cash and stock deal valued at approximately £1.7 billion ($2.25 billion).
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May 16, 2025
Taxation With Representation: Blakes, Davies, Goodmans
In this week's Taxation With Representation, Charter Communications Inc. merges with Cox Communications, Hub International Ltd. boosts its valuation after securing an investment, Pan American Silver Corp. acquires Mag Silver Corp. and Robinhood buys WonderFi.
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May 16, 2025
BCLP-Led KKR Funds Student Asset Near Warwick University
Private equity giant KKR said Friday that it has agreed to fund the development of a purpose-built student accommodation near the University of Warwick in middle England in a deal guided by Bryan Cave Leighton Paisner LLP, Gunnercooke LLP and Shoosmiths LLP.
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May 16, 2025
Kirkland Grows Liquidity Solutions Practice In NY
Kirkland & Ellis LLP has added two experienced secondary transactions partners to the liquidity solutions practice of its investment funds group.
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May 15, 2025
Vistra To Expand Gas Power Plant Portfolio With $1.9B Buy
Power generation company Vistra Corp., advised by Latham & Watkins and Cleary Gottlieb Steen & Hamilton, announced Thursday it agreed to buy seven natural gas power plants for $1.9 billion from Lotus Infrastructure Partners, which is being advised in the deal by King & Spalding and Eversheds Sutherland.
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May 15, 2025
Ex-CEO Cops To Conspiracy Charge In $212M Fraud Case
A New Jersey-based former CEO of a medical billing company has pled guilty to conspiring to commit securities fraud in connection with government claims he was part of a $212.5 million scheme to inflate the value of his company to defraud potential investors in a go-private transaction.
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May 15, 2025
SEC, FINRA Staff Retract 2019 Statement On Crypto Custody
U.S. Securities and Exchange Commission and Financial Industry Regulatory Authority staff on Thursday withdrew a joint statement from President Donald Trump's first term warning that existing consumer protection safeguards may not be effective or available for digital asset securities.
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May 15, 2025
Investor Makes Deal With PE Fund In Fla. Suit Alleging Fraud
A Texas accountant has lodged a federal complaint alleging a Florida-based CEO of a private equity fund and two executives refused to return $1 million of his life savings after buying securities that produced virtually no income, although the parties on Thursday struck a tentative deal to have the lawsuit tossed.
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May 15, 2025
SEC Focused On 'Rooting Out' AI Abuse, Agency Atty Says
The U.S. Securities and Exchange Commission is focused on "rooting out" the misuse of artificial intelligence by brokerage firms and publicly traded companies, a California audience heard Thursday as agency attorneys tried to combat the perception that the SEC's enforcement arm has gone silent.
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May 15, 2025
Greenberg Traurig, Loeb Guiding $1.7B Acuren, NV5 Deal
Acuren Corp. said Thursday it will acquire NV5 Global Inc. in a cash-and-stock deal worth about $1.7 billion, combining two companies that serve key roles in infrastructure and industrial markets.
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May 15, 2025
Polsinelli Lands Alston & Bird Capital Markets Ace In Dallas
Polsinelli PC expanded its capital markets and commercial lending practice group Thursday with the addition of a partner of 13 years at Alston & Bird LLP bringing experience advising clients in the healthcare, telecommunications financial services and advanced manufacturing industries.
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May 15, 2025
Senior Living Co. Pleads For Proxy Fight Win After CEO Exit
Brookdale Senior Living, the largest U.S. senior living operator, urged shareholders Thursday to reject a proxy contest brought by an affiliate of activist investor Ortelius Advisors, claiming the fund hasn't offered a new strategy for the company despite its criticism.
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May 15, 2025
AI Startup Perplexity Seeks $14B Valuation, And More Rumors
Perplexity is in talks for a new funding round that would value the artificial intelligence startup at $14 billion, OpenAI is reworking a multibillion-dollar agreement with Microsoft Corp. in order to free up its plans for an initial public offering, and Dutch power grid operator TenneT is considering selling a stake in its German division for up to $13 billion.
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May 15, 2025
TensorWave Wraps $100M Series A Funding Round
Artificial intelligence infrastructure company TensorWave, advised by Simpson Thacher & Bartlett LLP, said it closed its Series A funding round after securing commitments for $100 million, which will help the company capitalize on the increasing demand for next-generation AI compute infrastructure.
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May 15, 2025
Entrata Hits $4.3B Valuation After $200M Blackstone Plug
Wilson Sonsini Goodrich & Rosati PC-advised Entrata, an operating system for multifamily housing communities, revealed on Thursday that it reached a $4.3 billion valuation after securing a $200 million minority investment from private equity giant Blackstone, led by Weil Gotshal & Manges LLP.
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May 14, 2025
Audit Firms Agree To $46M Deal Over Alleged GPB Fraud Ties
Several auditors of GPB Capital have agreed to pay $46 million to settle claims about their alleged role in the $1.8 billion GPB Capital-Ascendant Capital fraud scheme, which allegedly victimized approximately 15,000 investors.
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May 14, 2025
Abbott Signs Bill Codifying Immunity For Corporate Execs
Texas Gov. Greg Abbott on Wednesday signed into state law a corporate reform bill that codifies the "business judgment rule," which provides immunity for corporate directors from personal liability for company decisions.
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May 14, 2025
Ex-Citi Exec Klein's Latest SPAC Raises Upsized $360M IPO
Special purpose acquisition company Churchill Capital Corp. X began publicly trading on Tuesday after announcing plans to raise $360 million in its initial public offering.
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May 14, 2025
Trump's Unorthodox US Atty Picks May Face Learning Curve
While some of President Donald Trump's picks for U.S. attorney fit the typical mold — former federal prosecutors and BigLaw alums — others lack the type of court experience that can be crucial for effective office management and earning the respect of judges, experts say.
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May 14, 2025
Venture-Backed Tech IPOs Forge Ahead As Momentum Builds
Venture-backed mobile banker Chime Financial Inc. has filed for an initial public offering, while advertising technology platform MNTN Inc. unveiled a price range on an estimated $176 million listing, marking the latest developments this week to bolster the IPO pipeline.
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May 14, 2025
SEC To Have 'Sympathetic Ear' On Penalty Talks, Official Says
The U.S. Securities and Exchange Commission's deputy enforcement director told an audience of financial professionals on Wednesday that they can expect a "more sympathetic ear" from the now Republican-led commission when it comes to arguing down penalties, saying that it's possible that some cooperative firms will not have to hire an outside compliance consultant.
Expert Analysis
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BlackRock Suit Highlights Antitrust Risks Of ESG
In Texas v. BlackRock, pending in Texas federal court, 13 state attorneys general are suing large institutional investors in the coal business, underscoring key reasons companies may want to alter their approach to developing and implementing policies related to environmental, social, and governance factors, especially if coordination with competitors is involved, say attorneys at Manatt.
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How Rising Secondary Private Markets Affect Tech Disputes
The rise of secondaries is a natural by-product of growing and evolving private markets and, as such, we can expect their growth will continue, signaling an increase in the use of secondaries in damages as well as litigation revolving around secondaries themselves, says Farooq Javed at The Brattle Group.
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Suggestions For CFTC Enforcement's New Leadership
The recent change in leadership at the U.S. Commodity Futures Trading Commission presents an opportunity to reflect on past practices and consider opportunities for improvement at the commission's Enforcement Division, including in observing precedent and providing greater enforcement transparency, say attorneys at Clifford Chance.
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Assessing PE Risk After Mass. False Claims Act Amendments
A law recently passed in Massachusetts amends the commonwealth's False Claims Act by dramatically expanding potential liability for private equity firms and investors, underscoring the importance of robust diligence and risk assessments for private equity firms conducting transactions in the commonwealth, say attorneys at Gibson Dunn.
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Series
Racing Corvettes Makes Me A Better Lawyer
The skills I use when racing Corvettes have enhanced my legal practice in several ways, because driving, like practicing law, requires precision, awareness and a good set of brakes — complete with the wisdom to know how and when to use them, says Kat Mateo at Olshan Frome.
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Opinion
Attorneys Must Act Now To Protect Judicial Independence
Given the Trump administration's recent moves threatening the independence of the judiciary, including efforts to impeach judges who ruled against executive actions, lawyers must protect the rule of law and resist attempts to dilute the judicial branch’s authority, says attorney Bhavleen Sabharwal.
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Rethinking 'No Comment' For Clients Facing Public Crises
“No comment” is no longer a cost-free or even a viable public communications strategy for companies in crisis, and counsel must tailor their guidance based on a variety of competing factors to help clients emerge successfully, says Robert Bowers at Moore & Van Allen.
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Fund Names Rule FAQs Leave Some Interpretative Uncertainty
Although recently released FAQs clarify many specific points of the 2023 expansion to the Investment Company Act's fund names rule, important questions remain about how U.S. Securities and Exchange Commission staff will interpret other key terms when the end-of-year compliance date arrives, say attorneys at Dechert.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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How Private Securities Suits Complement SEC Enforcement
U.S. Securities and Exchange Commission enforcement is vital to the healthy functioning of markets, but government enforcement alone is not enough to ensure meaningful monetary recoveries for investor losses due to securities law violations, say attorneys at Bernstein Litowitz.
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Opinion
Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.
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Takeaways From CFTC's Private Fund Rule Amendments
The U.S. Commodity Futures Trading Commission's recently adopted amendments to Rule 4.7 of the Commodity Exchange Act ensure that investors in the complex derivatives markets receive relevant and comprehensive information, and further align suitability criteria for investors in private funds, says Rita Molesworth at Willkie.
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Series
Collecting Rare Books Makes Me A Better Lawyer
My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.