Medical device manufacturer Zimmer Biomet has been hit with a derivative suit in Delaware Chancery Court alleging company officers hid compliance problems at a factory that led to a stock drop when they came to light, while two directors helped private equity funds cash out to the tune of nearly $2 billion before stock prices plummeted.
Shares of workplace messaging company Slack rose following its direct listing on Thursday, marking the second time in more than a year that a large private company went public by skipping a conventional initial public offering and landed smoothly.
Global litigation funder IMF Bentham has introduced a $500 million fund it says is designed to meet growing demand for dispute resolution finance on several continents.
BCA Marketplace's board on Thursday said it received a cash takeover offer from investment funds managed by London-based private equity firm TDR Capital that values the used vehicle auctioneer's shares at roughly £1.9 billion ($2.4 billion).
A former McDermott Will & Emery attorney with experience guiding transactions in the health care industry has joined Holland & Knight's private equity practice as a partner in the firm's Miami office.
A quartet of biotechnology and biopharmaceutical companies focused on treating cancer, solid tumors and neurodegenerative and metabolic disorders began trading on Thursday after pricing initial public offerings that raised a combined roughly $476.6 million.
Private equity-backed retailer Grocery Outlet Holding Corp. made its market debut Thursday in a $378 million initial public offering that saw the Simpson Thacher-led company price shares above an already upwardly revised range.
Private investment firm GP Bullhound said Thursday that it has closed its latest fund after collecting €113 million ($127 million) from limited partners, with plans to target investments in companies within the realms of software, entertainment and fintech.
Malaysian investment holding company Paramount said Thursday it will shed majority stakes in a trio of education businesses in a 540.5 million Malaysian ringgit ($130.3 million) deal, handing control over to an entity financed by a unit of TPG Capital.
The reference price for Slack Technologies’ initial public offering is set at $26 per share, KKR is getting ready to sell part of its stake in Weststar Aviation Services, and GlaxoSmithKline has launched an effort to sell some of its consumer health brands.
Vintage Capital threatened Wednesday to oust five Red Robin directors, contending the burger chain's "unwillingness" to conduct a strategic review or respond to the private equity firm's $518.6 million purchase offer raises questions about the board's motivations.
Developer Goodman Group has reportedly dropped roughly $130 million on a Los Angeles manufacturing facility, Starwood Property Trust is said to be close to listing a portfolio of Ireland office properties for roughly €530 million, and TA Realty is said to have picked up a Florida office property for nearly $60 million.
The U.S. Trustee appointed three investor entities that are suing Elk Petroleum Inc. in Chancery Court to the Committee of Preferred Equity Security Holders in Elk’s bankruptcy case in Delaware on Wednesday, giving them a voice in the company’s reorganization.
Global asset management company Ares Management Corporation is backing a $165 million drilling and development project in the shale-rich Permian Basin in Texas, the company said Wednesday.
Finnish food delivery app Wolt said Wednesday that it has raised $130 million from a group of private investors led by Iconiq Capital, with plans to expand into new markets and hire 1,000 more employees by the end of next year.
In our latest roundup of deal makers on the move, Nelson Mullins snagged a corporate and securities specialist in Washington, D.C., Morrison & Foerster brought on a Los Angeles funds partner and strengthened its Chinese capital markets and corporate practices, and Akin Gump added a capital markets pro in Dubai.
Venture-backed Stoke Therapeutics Inc., a biotechnology firm developing therapies for genetic diseases, went public Wednesday after raising $142 million in an upsized initial public offering, steered by Fenwick & West LLP and underwriters' counsel Davis Polk & Wardwell LLP.
Brookside Mezzanine Partners, a private investment firm that provides debt and makes minority equity investments in lower-middle market companies in the U.S., said Wednesday it has closed its fourth fund after securing $375 million from limited partners.
Private equity firm KPS Capital Partners, working with legal adviser Paul Weiss, has agreed to sell Netherlands-based Chassis Brakes International Group to a unit of Hitachi Ltd. for €690 million ($773 million), the companies said Wednesday.
French photography platform Meero announced Wednesday it had landed $230 million in its latest funding round, which it will use to develop its suite of tools and automatic photo-editing features.
The U.S. Department of the Treasury is not working to release a third set of proposed regulations for the 2017 tax overhaul's opportunity zone program, an attorney with the agency said Wednesday.
Investment firm Angelo Gordon & Co. LP on Wednesday said investors have poured $2.75 billion into the firm’s largest ever direct lending fund, giving the Ropes & Gray-led firm a new source of senior secured loans for middle market companies.
The possibility of a recession has clients asking how to prepare for the effects it would have on mergers and acquisitions and private equity fundraising, but it's equally important that law firms ensure their attorneys are equipped to handle the work that would result from such an economic downturn.
Private equity-backed retailer Grocery Outlet Holding Corp. on Tuesday raised funding expectations just ahead of the scheduled pricing of its initial public offering to about $318 million, a potentially bullish sign from the Simpson Thacher-led company.
The U.S. Securities and Exchange Commission on Tuesday requested input on potential changes surrounding its regulation of private offerings, including whether rules should be eased to allow more individuals to invest in riskier securities that are normally limited to wealthy individuals.
Private equity sponsors hoping to take advantage of the qualified opportunity zone regime need to consider several structuring points unique to qualified opportunity funds. It will be both easier and harder than structuring typical PE funds, say Robert Holo and Tyler Robbins at Simpson Thacher Bartlett LLP.
Although the U.S. Securities and Exchange Commission has removed some roadblocks to capital formation, it has not taken a fresh look at special purpose acquisition companies in over a decade — leaving operating companies that go public by merging with SPACs saddled with unnecessary restrictions, says Carol Anne Huff of Kirkland & Ellis LLP.
Presenting a powerful opening statement at mediation plays an important role in achieving success, but you need to reach into your toolbox for more than just a hammer, says Anthony Rospert of Thompson Hine LLP.
Recent case law reveals that courts vary widely in their approaches to shifting the costs and fees incurred in responding to a Federal Rule of Civil Procedure 45 subpoena. Nonparties responding to such requests should consider certain district court trends, say attorneys at Pepper Hamilton LLP.
"Echo of Its Time" is the story of Nebraska’s federal district court from statehood in 1867 to the demise of Prohibition in 1933. Professors John Wunder and Mark Scherer have written an objective, unsentimental and insightful history, layered with context and rich in character study, says U.S. District Judge Laurie Smith Camp of the District of Nebraska.
The Momentive decision in the Southern District of New York, which warned against allowing senior secured creditors to “completely disable debtors from restructuring” and “scavenge on all assets in bird’s-eye view,” may have the unintended consequence of doing just that, say Adam Shiff and Shai Schmidt of Kasowitz Benson Torres LLP.
Lawyers involved in a mass tort must make difficult decisions concerning the potential size of the claimant pool, the expected percentage of qualifying cases, the likelihood of a settlement and more. Data analytics can help guide mass tort strategies and yield better outcomes, say Deb Zonies and Mark Zabel of litigation support services provider Verus LLC.
Anthony Scaramucci is probably best known for the 11 days he spent as White House director of communications in 2017. But when White and Williams LLP attorney Randy Maniloff sat down to chat with "the Mooch," he was interested in hearing a different story.
The Tangoe stockholders litigation is one of the rare — but apparently increasingly frequent — cases in which the Delaware Court of Chancery has ruled that Corwin cleansing of a transaction is not available because stockholder approval of the transaction was not “fully informed and uncoerced,” say attorneys at Fried Frank Harris Shriver & Jacobson LLP.
A recent Federal Trade Commission enforcement action involving a vertical merger between Staples Inc. and Essendant Inc. highlighted the intensifying debate regarding vertical integration's competitive benefits and harms, as well as starkly divergent views between individual commissioners on merger review, say Daniel Hemli and Jacqueline Java at Bracewell LLP.
Though some have claimed the New York Appellate Division, First Department's ruling in Sutton 58 v. Pilevsky will have earth-shattering consequences, the deceptively narrow decision does not undermine the contract-based foundation upon which recourse carveout guarantees are built, say attorneys at Fried Frank Harris Shriver & Jacobson LLP.
Paul Manafort's attorneys recently filed a court document containing incompletely redacted information, highlighting the need for attorneys to become competent at redaction — or at least at verifying that redaction has been performed correctly. Failure to do either could be construed as legal malpractice, says Byeongsook Seo of Snell & Wilmer LLP.
The recent Oxbow litigation in Delaware provides an example of how things can go wrong on a minority investor's road to liquidity. For example, misalignment between a transaction's economic terms and parties' motivations can skew expectations, say Kyle Gann and Jason Osborn of Winston & Strawn LLP.
Even as a child in war-torn Iran, I began to develop a sense of justice and a desire for equality and the rule of law. These instincts ultimately guided me to become a federal prosecutor, and now a partner in private practice, says Raymond Aghaian of Kilpatrick Townsend & Stockton LLP.
The private equity industry has a long way to go to ensure the diverse views and experiences of women are harnessed for the good of the firms and the companies in which they invest, but current trends are favorable, say experts at McGuireWoods LLP.