Private Equity

  • December 02, 2022

    Don't Miss It: Sidley, Kirkland Guide Week's Hot Deals

    A lot can happen in the world of mergers and acquisitions over the course of a week, and it's difficult to keep up with all the deals. Here, Law360 recaps the ones you may have missed, including transactions helmed by Sidley Austin LLP and Kirkland & Ellis LLP.

  • December 02, 2022

    SPAC Sues Monex, TradeStation In Del. After $1.43B Deal Dies

    A special-purpose acquisition company that was supposed to take TradeStation Group Inc. public in a $1.43 billion deal earlier this year has instead sued the Florida-based financial trading platform and its Tokyo-based parent Monex Group Inc. in Delaware's Court of Chancery.

  • December 02, 2022

    Interest Rates Doom Lender, Crypto Winter Persists

    Rising interest rates forced a reverse mortgage lender into Chapter 11, cryptocurrency platform BlockFi succumbed to the downfall of exchange FTX Trading, and FTX itself faced calls for an examination of its collapse. This is the week in bankruptcy.

  • December 02, 2022

    FTX's 'Havoc' May Strengthen Call For More Women In Crypto

    For the former federal prosecutor behind a new professional group for women in cryptocurrency, the fall of FTX has brought a torrent of emotion. But it has also shined a light on the oft-overlooked women who have been sounding the alarm on risk in the industry.

  • December 02, 2022

    FTC Scrutinizes $5.2B Purchase By Natural Gas Producer EQT

    The U.S. antitrust regulator is seeking more answers on EQT Corp.'s proposed $5.2 billion purchase of Tug Hill's upstream and XcL's midstream oil and gas assets, according to a Friday filing with the U.S. Securities and Exchange Commission.

  • December 02, 2022

    Judge Boots Atty Irking Court With 'Unnecessary Problems'

    A North Carolina federal judge has pulled approval for an out-of-state attorney to represent a real estate investment firm found in a civil trial to have rigged foreclosure sales after she said he failed to give his client requests for information and vexed the court with illegible briefs and personal attacks on opposing counsel.

  • December 02, 2022

    Skadden Says Lottery.com Hasn't Paid It For Chancery Case

    Skadden Arps Slate Meagher & Flom LLP told the Delaware Chancery Court that Lottery.com has not paid the firm for its work on a case that resulted in an order for a financial firm to return $16.5 million in escrow funds to the online ticket manager.

  • December 02, 2022

    Three Arrows Liquidators Want To Serve Founders On Twitter

    The British Virgin Islands liquidators of cryptocurrency hedge fund Three Arrows Capital Ltd. on Friday asked a Delaware bankruptcy judge to allow them to serve the fund's founders via Twitter, saying they have been dodging questions about the fund for months.

  • December 02, 2022

    PE Biz's £1.8B Bid For Enviro Energy Co. Gets Regulatory Nod

    Renewable energy business ContourGlobal said Friday that its £1.75 billion ($2.15 billion) acquisition by a private equity firm has gained regulatory approval to proceed, in a deal guided by Slaughter and May and Simpson Thacher & Bartlett.

  • December 01, 2022

    DC, Calif., Ill. AGs Try Again To Block Albertsons' $4B Payout

    The District of Columbia, California and Illinois again asked a D.C. federal judge to block Albertsons' planned $4 billion shareholder payout, arguing Thursday that while their temporary restraining order was rejected, they're entitled to a preliminary injunction because further investigation shows the dividend will harm Albertsons.

  • December 01, 2022

    2 Brits Indicted In Bar Works Scam, Named In SEC Suit

    Two British businessmen were named in a federal grand jury indictment Thursday in New York that accused them of helping recruit investors for fraudulent leases in co-working space company Bar Works through their Spanish real estate firm.

  • December 01, 2022

    Ye And Parler Call Off Deal For Rapper To Buy Social Platform

    The artist formerly known as Kanye West, who has been facing widespread backlash following antisemitic comments, will no longer acquire Parler, a decision the company said was made in mid-November but announced Thursday, the same day West praised Hitler during an Infowars interview with conspiracy theorist Alex Jones. 

  • December 01, 2022

    Biotech Co. Accuses Citadel Securities, Others Of Spoofing

    Northwest Biotherapeutics Inc. on Thursday sued several broker-dealers including Citadel Securities LLC and Canaccord Genuity LLC in New York federal court for allegedly carrying out a spoofing scheme that repeatedly drove the biotechnology company's share price down despite promising developments with a cancer drug.

  • December 01, 2022

    Unions Call Tegna Deal 'Template' For Hedge Funds

    Unions opposing broadcast company Tegna's $8.6 billion go-private deal with hedge fund Standard General have told a member of the Federal Communications Commission the deal would provide a "template" for hedge funds to buy up, hollow out and then exit their investments in local journalism.  

  • December 01, 2022

    Stila Styles CEO Asks To Seal Courtroom For Sale Testimony

    The CEO of Zohar portfolio company Stila Styles on Thursday asked a Delaware bankruptcy judge to close the courtroom for a hearing concerning the company's sale, saying any information on the sale or the company's finances is too confidential for the public.

  • December 01, 2022

    CFTC Head Wants Power From Congress To Police Crypto

    The head of the U.S. Commodity Futures Trading Commission on Thursday urged legislators to grant his agency more authority over the cryptocurrency industry, saying it lacks tools to protect customers from epic collapses like the bankruptcy of FTX Inc.

  • December 01, 2022

    Simpson, Hogan Guide Blackstone's $1.27B Hotel Stake Sale

    A Blackstone real estate investment trust, advised by Simpson Thacher & Bartlett LLP, plans to sell its 49.9% stake in MGM Grand Las Vegas and Mandalay Bay Resort to VICI Properties, led by Hogan Lovells, for $1.27 billion in cash, the companies said Thursday.

  • December 01, 2022

    Fla. Treasury To Divest From BlackRock, Citing ESG Policies

    Florida's chief financial officer announced on Thursday that the state Treasury will "take its business elsewhere" and begin divesting $2 billion worth of assets from asset manager BlackRock, accusing the firm of focusing too much on its "campaign to change the world" instead of producing investor returns.

  • December 01, 2022

    Deals Rumor Mill: CoinDesk, News Corp., Liverpool FC

    Online news site CoinDesk is receiving takeover interest, a top News Corp. shareholder is worried the company will be undervalued in a potential merger with Fox Corp., and two Middle East consortiums are vying to acquire Liverpool Football Club. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • November 30, 2022

    FTX Founder Ignores Legal Advice For Spotlight At NYT Event

    FTX founder Sam Bankman-Fried said Wednesday that he "didn't ever try to commit fraud" and isn't thinking about potential criminal charges he might face even as regulators in the U.S. and abroad continue to investigate what happened in the days and months leading up to the crypto exchange's crash several weeks ago.

  • November 30, 2022

    San Francisco Hedge Fund Hires Veteran Finance Atty As CCO

    A former chief compliance officer for investment adviser Harvest Capital Strategies LLC has joined Indaba Capital Management LP as its new head of compliance.

  • November 30, 2022

    9th Circ. Tells Uber Objectors Settlement Isn't A Coupon Deal

    The Ninth Circuit on Wednesday affirmed Uber Technologies Inc.'s $32.5 million deal and class counsel's $5.7 million fee award in litigation over the ride-hailing service's deceptive "safe rides" fee, rejecting objectors' arguments that the settlement amounts to a coupon deal with "de minimis" individual payouts.

  • November 30, 2022

    Monthly Merger Review Snapshot

    European antitrust officials put Microsoft's proposed $68.7 billion buyout of Activision Blizzard under the microscope, Team Telecom offered no objections to Tegna's $8.6 billion go-private deal, U.K. authorities began probing Broadcom's proposed $61 billion purchase of VMware and the Justice Department appealed its UnitedHealth-Change challenge loss.

  • November 30, 2022

    SEC Extends Enforcement Deadline For Beefed-Up OTC Rules

    The U.S. Securities and Exchange Commission said Wednesday it will allow market participants two more years before they must comply with enforcement of revised rules that will require increased disclosure of certain unlisted bonds that trade over the counter.

  • November 30, 2022

    Dechert Doubles Up In Recast Leadership Structure

    Multinational partnership Dechert LLP is overhauling its leadership structure and will install two deals-and-finance partners as co-chairs, the firm announced Wednesday.

Expert Analysis

  • 5 Takeaways From The SEC's Annual Whistleblower Report

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    Jane Norberg and Adam Reinhart at Arnold & Porter offer insights into the U.S. Securities and Exchange Commission's recent 2022 whistleblower report — including the agency's increased focus on whistleblower impeding cases, initial coin offerings and cryptocurrency — as the agency continues to receive a record-breaking number of tips.

  • Safeguarding Attorneys' Greatest Asset: Our Mental Health

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    Attorneys who understand that mental fitness is their most valuable characteristic should prioritize mental health care accordingly, including with certain activities they may not realize qualify as self-care, says Wendy Robbins at Holland & Knight.

  • SEC Enforcement Numbers Show Shift To High-Impact Cases

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    The U.S. Securities and Exchange Commission’s recently released enforcement data from fiscal year 2022 shows a modest uptick in cases from the prior year, and signaled an increasing focus on high-impact actions, high-profile defendants and large penalties — a trend that seems likely to continue next year, say attorneys at Covington.

  • A Promising Structure For Multiunit Franchise Acquisitions

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    For investors looking to capitalize on the continued strength of franchise businesses, one potential acquisition structure based around an operating company and a property company may allow for efficient and flexible operations, say attorneys at Allen Matkins.

  • COVID-19 Effects Linger In M&A Details

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    President Joe Biden may have declared the COVID-19 pandemic over, but it continues to have a lasting effect in mergers and acquisitions, where buyers and sellers are adding new deal terms to contend with business risks resulting from COVID-19 — and more specifically, the Coronavirus Aid, Relief and Economic Security Act, says Marlen Whitley at Townsend & Lockett.

  • How, And Why, To Become An Impact Investment Lawyer

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    The fast-evolving world of impact investing can offer fulfilling careers to corporate finance attorneys, but success requires an innovative mindset, intense focus on this interdisciplinary field and a genuine commitment to changing the world, says Chintan Panchal at RPCK Rastegar.

  • Opinion

    Law Schools Are Right To Steer Clear Of US News Rankings

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    By opting out of participating in the U.S. News & World Report annual rankings, law schools abandon a profoundly flawed system and free up their resources to adapt to the tsunami of changes overtaking the profession, says Nicholas Allard at Jacksonville University College of Law.

  • New FERC Affiliate Considerations For Public Utility Investors

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    Two recent orders from the Federal Energy Regulatory Commission significantly broaden the scope of the terms "affiliate" and "change in control," which means that investors in public utilities should reexamine their status and compliance obligations, say attorneys at Latham.

  • Opinion

    Litigation Funders Seek Transparency In Disclosure Debate

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    Litigation funders want to correct the record on calls for funding disclosure in the name of transparency, as this purported justification obscures the disclosure's adverse effects — prejudicing plaintiffs' cases and discouraging the assertion of meritorious legal claims, say Dai Wai Chin Feman and William Weisman at Parabellum Capital.

  • 5 Principles For Better Professional Development Programs

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    The pandemic and ensuing "great resignation" have resulted in a more transient legal work force, but law firms can use effective professional development programs to bridge a cultural gap with new associates and stem associate attrition, says Matthew Woods at Robins Kaplan.

  • What To Pay Attention To In FTX Fraud Probe

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    Steven Lee and Sean Shecter at Lewis Brisbois outline the issues the U.S. Department of Justice and the U.S. Securities and Exchange Commission will have to explore as they investigate FTX's handling of customer funds to determine whether the crypto exchange’s CEO acted with the requisite criminal intent to violate federal wire fraud statutes.

  • Beware FTC's Expanded Focus On Private Equity, Individuals

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    The Federal Trade Commission's recent policy statement broadening its interpretation of unfair methods of competition signals an expanded focus that could have far-reaching implications for future private equity acquisitions, as well as the potential to discourage executives from taking top positions at companies, say attorneys at Baker McKenzie.

  • Series

    My Favorite Law Prof: How I Learned To Practice With Passion

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    First Circuit Judge Gustavo Gelpí recalls how Suffolk University Law School's Joseph Glannon taught the importance of the law as both a tool and a profession, and that those who wish to practice law successfully must do so with love, enthusiasm and passion.

  • Navigating The FTC's Expanded Unfair-Competition Stance

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    Legal practitioners will need to evaluate past, existing and future practices for Section 5 liability in an aggressive enforcement environment, following the Federal Trade Commission's recent policy statement broadening prior guidance on unfair methods of competition, say attorneys at McDermott.

  • Investment Adviser Compliance Tips For 3rd-Party Marketing

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    The U.S. Securities and Exchange Commission has coupled its recently effective marketing rule with a warning the agency will keenly watch the industry for violations, so investment advisers planning to use newly-permitted third-party testimonials and reviews should keep several considerations in mind to stay in compliance, say attorneys at BakerHostetler.

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