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Private Equity
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April 04, 2024
Brett Favre Fights To Revive Miss. Defamation Suit In 5th Circ.
Retired NFL quarterback Brett Favre is arguing to the Fifth Circuit that fellow Hall of Fame inductee Shannon Sharpe's broadcast comments about his alleged involvement with a huge Mississippi welfare fraud could not be excused as hyperbole, in an attempt to revive a defamation suit against Sharpe.
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April 04, 2024
Novo Holdings, Catalent Reset Review Clock On $16.5B Deal
Novo Nordisk Foundation has given the Federal Trade Commission more time for an initial review of Novo Holdings' plan to acquire Catalent in a deal that values the pharmaceutical services company at $16.5 billion.
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April 04, 2024
Large-Cap PE Specialist Moves To Sidley From Paul Weiss
A veteran private equity attorney has joined Sidley Austin LLP's mergers and acquisitions and private equity practice in New York from Paul Weiss Rifkind Wharton & Garrison LLP, where he told Law360 in a Thursday interview that he will continue representing large cap private equity firms amid an anticipated uptick in both platform acquisitions and exits.
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April 04, 2024
UK Billionaire Lewis Avoids Prison For Insider Trading
A New York federal judge on Thursday sentenced British billionaire Joe Lewis to three years of probation for feeding his girlfriend and private-jet pilots nonpublic stock tips about his private equity firm's portfolio companies, saying a prison term would put the 87-year-old at "serious risk" of death.
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April 04, 2024
Ex-CEO Reaches Legal Fee Agreement With Trump-Tied SPAC
A Delaware vice chancellor has signed off on an agreement between Donald Trump-tied Digital World Acquisition Corp. and its former CEO to have the venture pay his legal costs related to federal probes and litigation in multiple states.
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April 04, 2024
Top M&A Advisers Of Q1 Include Kirkland, Skadden
Global law firms Kirkland & Ellis LLP, Skadden Arps Slate Meagher & Flom LLP, Goodwin Procter LLP and Wachtell Lipton Rosen & Katz were among the most active legal counsel providers for global mergers and acquisitions in the first quarter of this year, according to a new report from the London Stock Exchange Group.
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April 04, 2024
Kirkland-Led SK Capital Raises $2.95B For 6th PE Fund
Kirkland & Ellis LLP-advised private equity shop SK Capital Partners LP announced Thursday that it closed the latest vintage of its flagship private investment strategy after securing $2.95 billion of capital commitments.
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April 04, 2024
Deals Rumor Mill: Alphabet, Honeywell, Syngenta IPO
Google parent Alphabet is exploring whether to make an offer to acquire software company HubSpot; Chinese regulators encouraged pesticides giant Syngenta to pull its $9 billion IPO over concerns it could unsettle China's volatile market, and Honeywell wants to sell its personal protective equipment unit. Here, Law360 breaks down these and other notable deal rumors from the past week.
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April 04, 2024
IT Firm ConvergeOne To Wipe $1.6B Of Debt In Ch. 11
Information technology company ConvergeOne Holdings Inc. received preliminary approval for a disclosure statement Thursday that describes its plan to slash $1.6 billion from its balance sheet in a prepackaged Chapter 11.
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April 04, 2024
Contract Tool Latch Rebrands To Ivo, Raises $4.8M Investment
Latch, a contract software company that uses generative artificial intelligence, changed its name to Ivo and secured $4.8 million in new funding on Thursday.
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April 03, 2024
UK Billionaire Lewis Agrees To $1.64M Insider Trading Penalty
British billionaire Joseph Lewis has agreed to pay $1.64 million to settle the U.S. Securities and Exchange Commission's civil claims he fed confidential tips to his personal pilots and then-girlfriend after pleading guilty to related criminal charges earlier this year.
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April 03, 2024
Investors Want $1.5B Penalty Awarded After PE Buyout
A group of investors is seeking to enforce a $1.5 billion judgment stemming from a 2005 private equity acquisition of Greece-based Tim Hellas Telecommunications SA that it claims ultimately enriched PE firms TPG Inc. and Apax Partners LLP to the detriment of other investors.
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April 03, 2024
NFL Helmet Maker Riddell Receives $400M PE Investment
NFL helmets maker Riddell Inc., advised by Lowenstein Sandler LLP, will get a $400 million infusion from King & Spalding LLP-led private equity firm BC Partners Credit, in an effort to advance the company's role in the game of football and put money in the pocket of current investors, the two announced Wednesday.
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April 03, 2024
Top 10 Deals Of Q1 Led By GE Energy Spinoff, Capital One
It may be wishful thinking to imagine that earlier hopes for a major rebound in 2024 mergers and acquisitions activity will pan out, but by many indications the year was at least off to a better start than 2023.
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April 03, 2024
Blue Owl Buying Kuvare Asset Management For Up To $1B
Alternative asset manager Blue Owl Capital Inc., advised by Kirkland & Ellis LLP, on Wednesday unveiled plans to buy Sidley Austin LLP-led Kuvare Asset Management for up to $1 billion in a cash-and-stock transaction.
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April 03, 2024
Disney Thwarts Trian Revolt, Retaining All 12 Board Members
Walt Disney Co. shareholders reelected the entertainment company's 12 current board members at a shareholder meeting Wednesday afternoon, rejecting all nominees pushed by activist investors Trian Fund Management and Blackwells Capital.
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April 03, 2024
Truth Social Investors Cop To Fraud In $23M Insider Case
Two Florida venture capitalists on Wednesday admitted to insider trading on confidential plans to take former President Donald Trump's media company public, after prosecutors charged that the Truth Social fraud netted them and a third defendant $23 million.
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April 03, 2024
Kirkland-Led Goldman Sachs Unit Buys Stake In Credit Fund
Goldman Sach's private equity unit has acquired Italian asset manager Azimut's 20% stake in private credit fund Kennedy Lewis for $225 million, the companies said Wednesday.
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April 03, 2024
Paul Hastings Adds Group Co-Chair With Finance Duo Hire
Following group hires in the finance space, Paul Hastings LLP announced Wednesday it is hiring two attorneys from Weil Gotshal & Manges LLP, one of whom will co-chair its asset-backed finance practice.
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April 02, 2024
Gas Tycoon Owes $100M To UBS, Lenders After Trial Loss
Energy titan Charif Souki owes more than $100 million to lenders, including a fund managed by a UBS division, a U.S. bankruptcy judge has ruled, rejecting Souki's claims that his lenders recklessly sold off collateral posted for the loan, including a luxury yacht, a Colorado ranch and shares of his liquefied natural gas export business Tellurian Inc.
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April 02, 2024
Receiver Looks To Claw Back $1.2M After LA Ponzi Scheme
A court-appointed receiver has urged a California court to enforce a $1.2 million arbitral award against two production companies as part of an effort to claw back funds that were the product of a $690 million Ponzi scheme perpetrated by a since-imprisoned Los Angeles actor.
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April 02, 2024
Bally's Investor Says Takeover Bid Exploiting Weakness Of Biz
Bally's Corp. investor K&F Growth Capital has urged the board of directors for the casino operator to reject a $15-per-share takeover bid from its largest shareholder, Standard General, asserting the offer from the investment firm "woefully" undervalues the business.
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April 02, 2024
SelectQuote Beats Investor Suit Over Revenue Reports
A New York federal judge has dismissed a lawsuit by investors of insurance distribution platform SelectQuote accusing it of reporting inflated revenue, saying the defendants' forward-looking projections are protected by the safe harbor of securities laws.
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April 02, 2024
King & Spalding Lands 3 Kasowitz Partners For Biz Litigation
King & Spalding LLP announced Tuesday that it had hired three partners for its business litigation practice from Kasowitz Benson Torres LLP, including the co-chair of Kasowitz's real estate litigation practice group.
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April 02, 2024
Feds Seek Leniency For UK Billionaire Lewis In Trading Case
Prosecutors have told a Manhattan federal judge that 87-year-old British billionaire Joe Lewis should serve less than 18 months in prison after he pled guilty to insider trading, citing his age and health and arguing he "has otherwise lived a law-abiding life."
Expert Analysis
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Best Practices For Cos. Navigating US-China Investigations
Given recent enforcement trends and the broad jurisdictional reach of U.S. laws, companies with operations in China must enhance their compliance programs in order to balance new corporate enforcement expectations with Chinese data protection and privacy requirements, say attorneys at Paul Hastings.
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Tips For Litigating Against Pro Se Parties In Complex Disputes
Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.
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Planning Compliance For Updated FinCEN Reporting Rules
Although the Financial Crimes Enforcement Network's reporting deadline for beneficial ownership information may seem far off, companies should act now to determine which corporate entities must report and what information must be collected, given the potential time, resources and legal questions involved, say attorneys at Crowell & Moring.
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Pro Bono Work Is Powerful Self-Help For Attorneys
Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.
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Series
Playing In A Rock Cover Band Makes Me A Better Lawyer
Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.
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Series
The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'
The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.
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Calif. GHG Disclosure Law Will Affect Companies Worldwide
California's Climate Corporate Data Accountability Act, which will require comprehensive greenhouse gas emissions disclosures from large companies operating in the state, will mean compliance challenges for a wide range of industries, nationally and globally, as the law's requirements will ultimately trickle out and down, say attorneys at Brownstein Hyatt.
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How To Navigate The FTC's New Private Equity Frontier
The Federal Trade Commission's recent district court complaint against an anesthesia firm and its private equity partner tests key bounds of the agency's stand-alone authority, and defense strategies can include challenges to both the geographic and the service market fronts, say attorneys at Baker McKenzie.
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Opinion
Newman Suspension Shows Need For Judicial Reform
The recent suspension of U.S. Circuit Judge Pauline Newman following her alleged refusal to participate in a disability inquiry reveals the need for judicial misconduct reforms to ensure that judges step down when they can no longer serve effectively, says Aliza Shatzman at The Legal Accountability Project.
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Series
ESG Around The World: Japan
Japan is witnessing rapid developments in environmental, social and corporate governance policies by making efforts to adopt a soft law approach, which has been effective in encouraging companies to embrace ESG practices and address the diversity of boards of directors, say Akira Karasawa and Landry Guesdon at Iwata Godo.
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How And Why Your Firm Should Implement Fixed-Fee Billing
Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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Opinion
Judicial Independence Needs Defense Amid Political Threats
Amid recent and historic challenges to the judiciary from political forces, safeguarding judicial independence and maintaining the integrity of the legal system is increasingly urgent, says Robert Peck at the Center for Constitutional Litigation.
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How Law Firms Can Use Account-Based Marketing Strategies
Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.
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Strategic Succession Planning At Law Firms Is Crucial
Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.
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The Impact Of Proposed HSR Form Changes On Agency Staff
The Federal Trade Commission's recent proposed changes to the Hart-Scott-Rodino Notification and Report Form will have the unintended effect of drastically increasing the burden on agency staff without an appreciable increase in their ability to detect potentially anti-competitive transactions, say Amanda Wait and Andrew Eklund at Norton Rose.