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Private Equity

  • June 14, 2019

    Taxation With Representation: Skadden, Wachtell, Fenwick

    In this week’s Taxation with Representation, Dassault buys Medidata for $5.8 billion, Salesforce buys Tableau for $15.7 billion, Apollo snaps up Shutterfly for $2.7 billion and TPG Pace will take over Accel to create an $884 million company.

  • June 14, 2019

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen Citibank, ING and a number of other banks sue Sudan and the country's central bank, a London derivatives broker file an appeal against a rival that's accused it of poaching employees and foreign exchange specialists Monex sue two former workers. Here, Law360 looks at those and other new claims in the U.K.

  • June 14, 2019

    Health Hires: Lathrop Gage, Goodwin, Shockwave Medical

    Lathrop Gage picked up an intellectual property attorney in Chicago, Goodwin Procter bolstered its life sciences practice in Hong Kong and medical device company Shockwave Medical Inc. hired a new general counsel, headlining Law360's latest roundup of personnel moves in the health care and life sciences arena.

  • June 14, 2019

    Pet Supplies Co. Chewy Raises $1B In Upsized IPO

    Online pet food and supplies retailer Chewy Inc.'s shares soared as they started trading Friday on the New York Stock Exchange, a day after the PetSmart subsidiary said it raised more than $1 billion in an upsized initial public offering led by Kirkland & Ellis.

  • June 13, 2019

    Prosecutors Add More Execs, Claims In Abraaj Criminal Suit

    A New York federal judge unsealed an indictment Wednesday adding three Abraaj Group executives and more than a dozen new claims to a lawsuit over what prosecutors called the "largest collapse of a private equity firm in history."

  • June 13, 2019

    Deals Rumor Mill: Alibaba, Grupo Argos, Patterson-UTI

    Alibaba Group has reportedly filed confidential plans to list in Hong Kong, Grupo Argos SA has reached out to Summit Materials about merging, and Patterson-UTI Energy could sell off its pressure pumping business.

  • June 13, 2019

    Weinstein Buyers Must Fulfill Investment Deals, Court Told

    A pair of private equity-backed entities on Thursday urged a Delaware federal court to reverse a decision that the company that bought the assets of bankrupt movie studio The Weinstein Co. won’t have to assume the obligations under investment agreements related to a dozen film projects.

  • June 13, 2019

    DLA Piper Snags Finance Partner From Morrison & Foerster

    DLA Piper added a new finance partner to its Boston office, welcoming an attorney from Morrison & Foerster LLP who aims to grow the finance practice in the Hub for the international firm.

  • June 13, 2019

    Orchids Paper DIP Punted As Possible Sale Battle Brews

    Approval of Orchids Paper Products Co.'s Chapter 11 debtor-in-possession financing has been punted to another day to see if a resolution can be reached to thwart another potential battle with unsecured creditors over a $175 million credit bid submitted from a private-equity-backed lender that is serving as stalking horse bidder.

  • June 13, 2019

    Fla. Law Firm Created Negligent Transaction Docs, Suit Says

    A Florida law firm and two of its attorneys cost investment firm L2 Capital LLC $4 million through negligently prepared transactional documents with a digital payment services company, along with more money lost in transactions with other businesses, according to a legal malpractice suit filed in federal court Thursday.

  • June 14, 2019

    CORRECTION: College Budgeting Fintech Platform Lands $575K In Funding

    Pay4Education, a college finance and budgeting-focused fintech platform, said Thursday it has landed $575,000 in its first funding round that will be used to accelerate product development as the company prepares to launch. Correction: An earlier version of this story misstated the amount that was raised. The error has been corrected.

  • June 13, 2019

    KKR Sells Copper Foil Co. To South Korean Group For $1B

    KKR has inked a deal to sell KCF Technologies to an affiliate of South Korean conglomerate SK Group for 1.2 trillion South Korean won ($1 billion), the private equity company said in a statement released Thursday.

  • June 13, 2019

    3 Firms Steer TPG Blank Check Co.'s $884M Slot Biz Deal

    A blank check company backed by TPG Capital said Thursday it will take over slot machine operator Accel Entertainment in a deal valuing the combined entity at $884 million, with Weil Gotshal representing the buyer and Fenwick & West and Much Shelist on the sell side.

  • June 12, 2019

    Wall St. Cop Stakes Its Turf In 1st Crowdfunding Decision

    The Financial Industry Regulatory Authority recently flexed its power to police crowdfunding websites with a panel's first litigated enforcement action against a funding portal, a move that laid out novel interpretations of the organization’s rules and set up a possible countersuit.  

  • June 12, 2019

    Davis Polk-Led Cybersecurity Startup Soars After $612M IPO

    Venture capital-backed cybersecurity startup CrowdStrike Holdings Inc., represented by Davis Polk & Wardwell LLP, saw its shares skyrocket in its trading debut Wednesday, following the company's $612 million initial public offering that priced above its forecast range.

  • June 12, 2019

    KKR Pushes Its Investment In Toorak Capital To $500M

    KKR has upped its total investment in real estate loan investor Toorak Capital to $500 million, following a pair of earlier investments in the company, according to an announcement from the companies on Wednesday.

  • June 12, 2019

    Consumer Products Biz Mohawk Disappoints With $36M IPO

    The Mohawk Group, an artificial intelligence-oriented consumer products company, made its market debut Wednesday with shares priced well below the low end of its range in a $36 million initial public offering steered by Paul Hastings.

  • June 12, 2019

    Deals Rumor Mill: Forever 21, T-Mobile, Church's Chicken

    Forever 21 has sought out restructuring advice from Latham & Watkins LLP, T-Mobile assets up for sale have earned the interest of Altice USA, Charter Communications and Dish Network, and private equity firm FFL Partners could sell Church’s Chicken.

  • June 12, 2019

    Cloud-Based Chat Platform Symphony Gets $165M In Funding

    Cloud-based communication and workflow collaboration platform Symphony Communication Services on Wednesday said it has landed $165 million in funding that will be used to build out its market solutions segment.

  • June 12, 2019

    KKR Deal Values German Publisher Axel Springer At €6.8B

    A holding company owned by KKR-advised funds plans to make a voluntary tender offer for Axel Springer SE, an offer that implies a roughly €6.8 billion ($7.68 billion) equity value for the German publisher, the companies said Wednesday.

  • June 12, 2019

    Mobile App Marketing Tool Biz Adjust Scores $227M Fundraise

    Adjust, a provider of analytics and fraud prevention solutions for mobile applications, said Wednesday a slate of new and returning investors led the way on a $227 million funding round as it looks to expand its platform and reach a wider global audience.

  • June 11, 2019

    $35.5M Deal Reached In REIT-Manager Merger Suit

    A proposed $35.5 million deal was made public Tuesday that would settle an investor suit in Delaware Chancery Court against the directors of AGNC Investment Corp. that challenged payments made to and the $562 million purchase of AGNC's management company in 2016.

  • June 11, 2019

    Life Time Fitness Stock Tipster Gets Year In Prison

    The lead tipster in an insider trading scheme based on Life Time Fitness Inc.'s planned take-private acquisition got sentenced Tuesday to one year and one day in prison.

  • June 11, 2019

    AGL Energy Readies $2.1B Bid For Telecom In Renewed Talks

    Australia's AGL Energy is showing renewed interest in buying telecommunications firm Vocus, disclosing Tuesday that it is kicking off due diligence on a potential AU$3.02 billion ($2.1 billion) offer after withdrawing an earlier proposal in May.

  • June 11, 2019

    Naspers Unit PayU To Drop $165M For Turkish Payment Biz

    PayU, a unit of technology investor Naspers, said Tuesday it will pay $165 million to take over financial technology startup Iyzico, adding a Turkish digital payments platform to its existing financial services offerings.

Expert Analysis

  • Opinion

    Jury Trials Are In Decline For Good Reason

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    A recent Law360 article reported on federal judges bemoaning jury trials' nationwide decline, but these laments are unfounded as jury trials have been replaced by better alternatives, says J.B. Heaton of J.B. Heaton Research.

  • Series

    Why I Became A Lawyer: A Circuitous Path To The Law

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    Instead of going to college after high school, I followed in my father’s footsteps and became an electrician. Later I became an electrical engineer, and then an IP attorney. Every twist and turn along the way has made me a better lawyer, says Joseph Maraia of Burns & Levinson.

  • Series

    Judging A Book: Conrad Reviews 'The Jury Crisis'

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    In "The Jury Crisis," jury consultant and social psychologist Drury Sherrod spotlights the vanishing jury trial, providing a fascinating canary-in-the-coal-mine warning for lawyers, litigants and society at large, says U.S. District Judge Robert Conrad of the Western District of North Carolina.

  • Revamping Your Approach To Client Development

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    As a former general counsel for both public and private companies, my advice to law firm attorneys who want to attract and keep clients is simple — provide certain legal services for free, says Noel Elfant, founder of General Counsel Practice.

  • What Lawyers Must Know Before Acting As Escrow Agents

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    The moment an attorney agrees to serve as an escrow agent for a client, the attorney assumes some of the most important obligations in the legal profession. Significantly, these obligations potentially extend to third parties who are not clients, say Scott Watnik and Michael Contos of Wilk Auslander.

  • Freelance Attorneys Are An Asset To In-House Legal Teams

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    With recent technological advances and a broader acceptance of flexible work arrangements, the opportunity for freelance attorneys is greater than ever, as is the value that this freelance workforce can create for companies, says Ben Levi of InCloudCounsel.

  • Why PE Funds Should Consider Qualified Opportunity Zones

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    The qualified opportunity zone program has largely focused on real estate, but private equity funds are uniquely positioned for QOZ investment in operating and startup businesses, as long as funds understand how program requirements may affect deals, say Alexandre Denault and Ira Stechel at Akerman.

  • Book Excerpt

    'Big Tech' Questions Echo Early Days Of US Corporate Law

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    The current calls to curb the power of Google, Facebook and Amazon recall an earlier time in American history, when the “bigness” of oil, steel and tobacco was front and center in national politics. And in those debates, the top lawyers of the day had a major voice, says John Oller, author of the new book "White Shoe."

  • OFAC Is Raising The Compliance Bar

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    Last week's settlement with Stanley Black & Decker is the most recent enforcement action in which the U.S. Treasury Department's Office of Foreign Assets Control appears to be communicating, in uncharacteristically direct terms, heightened compliance expectations for pre- and post-acquisition companies, say attorneys at Ropes & Gray.

  • Make-Whole Provisions Still Enforceable After Momentive

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    After the recent bankruptcy court decision in 1141 Realty Owner, debtors should think twice before assuming that a Southern District of New York bankruptcy filing will allow them to avoid a hefty make-whole premium — notwithstanding the Second Circuit’s 2017 Momentive decision, say Matthew Kelsey and Michael Gocksch of Gibson Dunn & Crutcher LLP.

  • New Guidelines Boost Sustainability-Linked Lending

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    Last week, three global syndicated lending industry associations established a voluntary framework for loans with terms tied to sustainability performance targets — further developing this fast-growing loan product that was introduced in the United States last year, say Aaron Adams and Yair Galil of Gibson Dunn & Crutcher LLP.

  • Setting The Record Straight On Women In Court Reporting

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    Today, 89 percent of court reporters are women, but I remember sitting behind my steno machine in the '80s and being asked by a judge if I, as a woman, would have the emotional fortitude to work a murder case, says Karen Santucci, chairwoman of the Plaza College court reporting program.

  • 10 Years After Koehler, NY Still Good For Judgment Creditors

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    A New York appeals court's decision in Kassover v. Prism has reinforced the state's reputation — established in Koehler v. Bank of Bermuda — as an attractive forum for judgment creditors seeking to execute on debtors' assets held in foreign jurisdictions, says Robert Malatak of Windels Marx Lane & Mittendorf LLP.

  • Opinion

    Limiting Supreme Court's Size Is Not Enough

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    The proposal by Sen. Marco Rubio, R-Fla., for a constitutionally mandated nine-justice U.S. Supreme Court does not address any of the well-known problems with the current system — problems that could be solved through a nonpartisan package of reforms, says Gordon Renneisen of Cornerstone Law Group.

  • Lenders Score Major High Court Victory In Foreclosure Case

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    The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.

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