Private Equity

  • August 27, 2021

    Del. Judge Freezes Assets Tied To Hotel Ch. 11 Fraud Claim

    Two men who were major investors in a multihotel bankruptcy earlier this year were hit with an asset freeze order in Delaware bankruptcy court Friday in connection with questions about an allegedly fraudulent, $2.4 million CARES Act Paycheck Protection Program loan in California.

  • August 27, 2021

    Media Co. Says Disability Doesn't Defeat Harassment Story

    Boston Globe Media Partners has asked the Second Circuit not to revive defamation claims lodged by the retired co-founder of a health care and biotech hedge fund, saying his argument that it was physically impossible for him to sexually harass his former employees due to his quadriplegia lacks merit and is inconsequential to the allegations.

  • August 27, 2021

    Chinese Cos.' US IPOs Plunge Amid Regulatory Crackdowns

    U.S.-listed initial public offerings by Chinese companies have ground to a halt amid regulatory crackdowns in both countries, with no sign as to when listings might resume, while existing listed Chinese companies face potential delisting given new authority at U.S. regulators' disposal.

  • August 27, 2021

    Don't Miss It: Latham, Ropes & Gray Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Latham & Watkins LLP and Ropes & Gray LLP.

  • August 27, 2021

    Forex-Rigging Case Tainted By Judge Error, 2nd Circ. Told

    An attorney for a former JPMorgan Chase & Co. foreign currency trader sentenced to prison for conspiring to fix prices on Friday asked the Second Circuit to vacate his conviction or order a new trial, saying the lower court erred by failing to make a determination on what legal standard applies to the case.

  • August 27, 2021

    Goodwin-Led Software Co. Toast Readies IPO

    Restaurant software developer Toast filed plans for an initial public offering Friday with help from Goodwin Procter and underwriters' counsel Sullivan & Cromwell, as it looks to raise cash after growing during the COVID-19 pandemic.

  • August 27, 2021

    Bernstein Litowitz May Seek $4.6M For Bank Merger Suit Deal

    Bernstein Litowitz Berger & Grossmann LLP will seek up to $4.6 million for brokering a tentative $23 million deal to end an investor suit in Delaware Chancery Court over Capital Bank Financial Corp.'s $2.2 billion sale to First Horizon National Corp. in 2017.

  • August 27, 2021

    Former Regions Executive Returns To Maynard In Birmingham

    One of the founding partners of Maynard Cooper & Gale PC, Fournier J. "Boots" Gale III, who oversaw the expansion of the firm and its emergence as one of the Southeast's leading law firms, has returned to its Birmingham, Alabama, office.

  • August 27, 2021

    Goodwin Continues Expansion Of Private Equity Group

    A former Mayer Brown LLP private equity partner who specializes in insurance and life sciences deals has moved to Goodwin Procter LLP, making him one of more than 20 partners to join its private equity practice in the past 18 months, Goodwin announced.

  • August 27, 2021

    49 Law Firms Push Back Against Litigation Targeting SPACs

    Forty-nine law firms have united in opposition to recent lawsuits arguing that special purpose acquisition companies should be regulated as investment companies — the basis of litigation against Bill Ackman's massive SPAC and two others — saying Friday that the suits are meritless.

  • August 26, 2021

    3 Blank-Check IPOs Tap Public Markets For $410M Combined

    Three blank-check companies, including one targeting minority-controlled businesses, went public Thursday after pricing initial public offerings that raised a combined $410 million to fund future acquisitions, under the guidance of four law firms.

  • August 26, 2021

    Ice Miller Adds Pair Of Business Law Partners In Chicago

    Indianapolis firm Ice Miller LLP has announced that it's added a pair of experienced business law attorneys as partners in its Chicago office.

  • August 26, 2021

    Chancery Tosses Class Suit Over $3B Zimmer Biomet Cashout

    Delaware's Chancery Court has dismissed a derivative suit for damages from Zimmer Biomet Holdings Inc. directors, top officers and private equity investors related to a $3 billion private equity cash-out and stock dive in 2016, finding that stockholders unjustifiably skipped an initial demand for action by the medical device maker's directors.

  • August 26, 2021

    Kirkland, Cadwalader Rep Forbes' $630M Go-Public Deal

    Forbes said Thursday it will go public at a $630 million enterprise value through a merger with a special purpose acquisition company, in a deal steered by Kirkland and Cadwalader.

  • August 26, 2021

    Deals Rumor Mill: Nubank, Kioxia, TPG Capital

    Brazil’s Nubank has the ambitious aspiration of achieving a $100 billion valuation in its planned IPO, Western Digital is nearing a $20 billion deal for Japanese semiconductor company Kioxia, and TPG is inching closer to its planned $10 billion IPO. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • August 26, 2021

    Ropes & Gray-Advised Neurogastrx Closes $60M Series B

    Gastrointestinal disorder-focused pharmaceutical company Neurogastrx, advised by Ropes & Gray LLP, said Thursday that it has raised $60 million in a crossover funding round led by healthcare investment firm Vivo Capital.

  • August 26, 2021

    Freshfields, Pillsbury Guide Axel Springer's $1B Politico Buy

    German publisher Axel Springer, led by Freshfields, has agreed to buy Pillsbury-advised journalism outfit Politico as part of a plan to boost its politics and policy coverage, in a deal worth just north of $1 billion, the companies said Thursday.

  • August 25, 2021

    Trustee Tells High Court Not To Review Revived $31M Suit

    The trustee for defunct blood-testing company Atherotech urged the U.S. Supreme Court on Tuesday to reject a petition by a former shareholder seeking review of an Eleventh Circuit decision that reinstated the trustee's attempt to recoup the company's $31 million dividend payout.

  • August 25, 2021

    Altria, Juul Seek Upper Hand Against FTC After In-House Trial

    Following an agency administrative trial, Altria Group is urging the Federal Trade Commission to reject arguments made by agency lawyers in a challenge to the company's purchase of a 35% stake in e-cigarette maker Juul.

  • August 25, 2021

    4 ShiftPixy Blank-Check Vehicles Slash IPO Sizes

    Staffing firm ShiftPixy Inc. lowered funding projections on four initial public offerings involving special purpose acquisition companies created by the business, which now expect to raise less than half of what was originally projected, according to securities flings Wednesday.

  • August 25, 2021

    Real Estate Rumors: Related, ZG, Starwood

    A Related Group venture is reportedly close to paying roughly $130 million for a Florida condo tower, ZG Capital Partners has reportedly landed $215 million in CMBS financing for a New York property, and a Starwood Capital venture is said to be hoping to tear down a Miami Beach condo tower and build a taller property there.

  • August 25, 2021

    Apex Prevails In Battle For Sanne With £1.51B Agreement

    Private equity-backed Apex Group will pay about £1.51 billion ($2.1 billion) to acquire London asset manager Sanne Group, the companies said Wednesday, in a move that comes mere months after Sanne rejected a roughly £1.34 billion buyout bid from Cinven.

  • August 25, 2021

    Finjan Asks Federal Circuit To Revive Software Patents

    Fortress Investment Group-owned Finjan has told the Federal Circuit that a California federal judge made numerous mistakes during claim construction in its infringement case against ESET that led the judge to erroneously throw out five software patents.

  • August 25, 2021

    $100M Deal In Merger Suit May Set Table For Hefty Fee Award

    Three firms could see an eight-figure payday if the Delaware Chancery Court approves a proposed $100 million deal to end a derivative suit accusing Clayton Dubilier & Rice LLC of steering a construction industry supplier it controlled into an alleged "grossly unfair" $1.2 billion merger.

  • August 25, 2021

    CBC-Led Group To Buy Stake In $2.5B Korean Botox Co.

    An investor group led by health care investment firm CBC Group will nab a 46.9% stake in Hugel Inc., a major developer of Botox and fillers in South Korea with a roughly $2.5 billion market cap.

Expert Analysis

  • Remote Law Firm Culture Should Prioritize Associate Training

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    Due to the pandemic, the gap between law school and the first day on the job has never been wider, but law firms can leverage training to bridge that intimidating gap and convey the unique value of their culture in a virtual environment, say Melissa Schwind at Ward and Smith, and William Kenney and Jaron Luttich at Element Standard.

  • Virtual Litigation May Unravel The Narcissistic Lawyer

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    The virtual courtroom limits a narcissistic lawyer's ability to intimidate witnesses and opposing counsel, boast to clients or engage in grandstanding — an unexpected benefit of the global pandemic as some aspects of remote litigation are likely here to stay, says Jennifer Gibbs at Zelle.

  • Understanding SPACs' Hidden Capital Costs

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    Business is brisk in special purpose acquisition company initial public offerings, but the many costs and complexities of the SPAC process must also be taken into consideration before choosing this financing method, as signs of a crash become increasingly evident, say Nicole Hatcher and Natasha Allen at Foley & Lardner.

  • ABA Remote Work Guide Raises Bar For Atty Tech Know-How

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    A recent American Bar Association opinion on lawyers' ethical duties of competence and confidentiality when working remotely should be viewed as part of a larger movement by which attorneys are being exhorted to develop competence in 21st century technology, say Jennifer Goldsmith at Ironshore and Barry Temkin at Mound Cotton.

  • Lateral Hire Conflict Screening Lessons From DLA Piper Case

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    While a Texas federal court recently denied a motion to disqualify DLA Piper from representing Apple in a patent dispute after the law firm hired an attorney who formerly represented opponent Maxwell, the case is a reminder that robust conflict checks during lateral hiring can save firms the time and expense of defending disqualification motions, says Hope Comisky at Griesing Law.

  • Key Enforcement Risks For SPAC Parties Amid SEC Scrutiny

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    The U.S. Securities and Exchange Commission's recent attention to special purpose acquisition companies could beget a wave of enforcement inquiries scrutinizing parties involved at any SPAC transaction stage, from sponsors to operating companies, targets, underwriters and broker-dealers, say attorneys at WilmerHale.

  • 3 Cybersecurity Questions To Ask Before A Remote Mediation

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    Lawyers preparing to mediate or arbitrate a case through videoconference should take steps to ensure they and their alternative dispute resolution providers are employing reasonable security precautions to protect digital client data and conform to confidentiality obligations, say F. Keith Brown and Michael Koss at ADR Systems.

  • A Uniform Mediation Act Primer As States Continue Adoption

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    With Georgia expected to soon become the 13th jurisdiction to adopt the Uniform Mediation Act and with more states likely to follow suit amid widespread trial delays, practitioners should familiarize themselves with the act's conflict disclosure requirements and the boundaries of its confidentiality provisions, says Richard Mason at MasonADR.

  • Safeguarding Privileged Communications In A Remote World

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    With the pandemic ushering in remote collaboration tools, counsel must revisit fundamentals of the attorney-client privilege and the work-product doctrine, study cases involving email and other recent technologies, and follow 10 best practices to protect confidentiality, say attorneys at DLA Piper.

  • How To Meet CFIUS Expectations On Chinese Investment

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    Under President Joe Biden, U.S. government scrutiny of Chinese investment is likely to remain rigorous and have a significant impact on deal return on investment, so deal strategy should include a four-step proactive approach to the Committee on Foreign Investment in the United States review process, say Scott Boylan and Paul Stephen at StoneTurn.

  • 4 Areas Of Cyberattack Vulnerability For Law Firms

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    Recent data breaches involving Goodwin and Jones Day show that cyberattacks are very real threats to the legal profession, especially in the era of remote work, so law firms should revisit common business practices that expose them to unnecessary risks, says Ara Aslanian at Inverselogic.

  • Capital-Raising Strategy After SEC's Private Offering Rules

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    Emerging companies and investors stand to benefit from expanded investment opportunities provided by the U.S. Securities and Exchange Commission's amended private securities offering rules, but the framework also warrants new considerations for formulating and implementing private capital-raising plans, says Scott Jablonski at Berger Singerman.

  • Key Tax Concerns For Foreign Investors In US Private Equity

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    Paul D'Alessandro at Bilzin Sumberg examines important tax questions foreigners interested in U.S. private equity investments should ask in advance, including whether the investment will produce active or passive income, be subject to gains tax, and have U.S. estate tax consequences.

  • How To Help Your Witnesses Overcome Hindsight Bias

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    Witnesses facing tricky questions from opposing counsel often find themselves engaging in hindsight bias, when they use present knowledge to second-guess past actions, but these problematic thought processes can be overcome during deposition or trial preparation through tough questions and some catharsis, says Merrie Jo Pitera at Litigation Insights.

  • NJ 'Reply All' Ethics Opinion Brings New Pitfalls For Attorneys

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    While a recent New Jersey ethics opinion rightly concluded that an attorney cannot claim an ethics violation when opposing counsel replies all to a group email including clients, it runs counter to stances taken by other states and presents new dangers of confidentiality breaches and unfiltered messages to opposing parties, says Roger Plawker at Pashman Stein.

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