Private Equity

  • February 20, 2024

    FERC Greenlights $6.7B Vistra-Energy Harbor Merger

    The Federal Energy Regulatory Commission has approved a $6.7 billion proposed merger between Vistra Corp. and Ohio-based Energy Harbor LLC after taking extra time to review the tie-up amid competition concerns from both federal antitrust officials and state consumer advocates.

  • February 20, 2024

    AI Computing Co. Clinches $102M In VC-Led Funding

    Artificial intelligence-based computing company Recogni has closed its Series C funding round after raising $102 million from investors, with the funds going toward driving system development for AI inference solutions that improve both performance and power efficiency, the company announced Tuesday. 

  • February 20, 2024

    Fox Rothschild AI Chief Talks 'Terrifying' Deepfakes, Biased AI

    Mark McCreary, the chief artificial intelligence and information security officer at Fox Rothschild, leads his firm's internal AI strategy and provides counsel to other law firms trying to bushwhack their path through the often murky AI legal landscape, rife with hallucinated case law citations and disturbingly real deepfakes.

  • February 20, 2024

    Kirkland & Ellis Brings On Weil Tax Pros In NY, DC

    Kirkland & Ellis have recruited a pair of real estate tax partners from Weil, Gotshal & Manges LLC who advised clients on a wide range of complex transactions, Kirkland announced Tuesday.

  • February 20, 2024

    Boomerang In Default For Silence On $7M Del. Contract Suit

    A defunct steel tube plant that failed to respond to a Delaware Chancery Court lawsuit seeking $7.35 million for unpaid invoices was found in default Tuesday after failing to appear in court for more than a year and a half.

  • February 20, 2024

    Private Equity Group Of The Year: Paul Weiss

    Paul Weiss Rifkind Wharton & Garrison LLP advised private equity giant Apollo in nearly $30 billion of publicly disclosed transactions, including multiple multibillion-dollar take-private acquisitions, despite a slow deals market, earning the firm a spot among Law360's 2023 Private Equity Groups of the Year.

  • February 20, 2024

    Truist Selling Insurance Brokerage At $15.5B Value

    Truist Financial Corp. said Tuesday it has agreed to sell its remaining stake in subsidiary Truist Insurance Holdings to an investor group led by private equity firms Stone Point Capital and Clayton Dubilier & Rice, in an all-cash transaction that gives the insurance brokerage an enterprise value of $15.5 billion.

  • February 16, 2024

    Feds Charge Ex-Commodities Trader With $3.7M Scheme

    A former commodities trader has been charged with misappropriating $3.7 million from would-be investors using misrepresentations that he later repeated to undercover agents, New Jersey federal prosecutors said Friday.

  • February 16, 2024

    Leon Black Accuser Agrees To Drop Assault Claims

    A woman who accused former Apollo Global Management CEO Leon Black of sexually assaulting her during the late Jeffrey Epstein's decadeslong sex trafficking scheme has agreed to drop her claims against the billionaire, although other claims against Epstein's trust co-executors are still pending, according to court documents filed Thursday.

  • February 16, 2024

    Soroc Tech Del. Suit Alleges Fraud In $115M DecisionOne Deal

    Canada-based information technology services provider Soroc Technology Holdings LLC has sued private equity firm Oak Lane Partners and several of its top officers and affiliates in Delaware's Court of Chancery, alleging they were behind an elaborate, $115 million company sale fraud that snared Soroc.

  • February 16, 2024

    Startup Countersues Trucker Tracking Co. For Stealing Tech

    A venture capital-backed startup that sells dashboard cameras to monitor truck drivers is responding to a rival's well-publicized patent infringement case by filing its own patent lawsuit in a different federal court that mirrors many of the same allegations of technological theft but pointing them in the other direction.

  • February 16, 2024

    Canada Liable Under NAFTA For Axed LNG Project, Co. Says

    A U.S. company that invested at least $120 million in a since-thwarted liquefied natural gas project maintained that Canada is liable for $1 billion in damages for breaches of the North American Free Trade Agreement, and that the International Centre for Settlement of Investment Disputes has jurisdiction over its claims.

  • February 16, 2024

    Catching Up With Delaware's Chancery Court

    News broke last week that Delaware's Court of Chancery will say goodbye to its current longest-serving jurist, a development that quickly overshadowed a busy week of new merger and board disputes, fee rulings, settlements, and books-and-records demands.

  • February 16, 2024

    French Retail Co. Casino Group Files For Ch. 15 Recognition

    French retail conglomerate Casino Guichard-Perrachon SA filed for Chapter 15 bankruptcy in New York, seeking recognition of a French insolvency proceeding designed to slash more than €1.5 billion ($1.6 billion) from its debt sheet.

  • February 16, 2024

    Chromocell Hits Stock Markets Following $6.6M IPO

    Clinical-stage biotechnology company Chromocell Therapeutics Corp. began trading publicly on Friday after raising $6.6 million in its initial public offering, becoming the latest in a flurry of biotech IPOs.

  • February 16, 2024

    Taxation With Representation: Paul Weiss, Kirkland

    In this week's Taxation With Representation, Diamondback buys Endeavor, KKR & Co. acquires a stake in Cotiviti, and Gilead Sciences Inc. purchases CymaBay Therapeutics Inc.

  • February 16, 2024

    Gibson Dunn, DLA Piper Steer $1.45B Sale Of All3Media

    RedBird IMI, advised by Gibson Dunn & Crutcher LLP, on Friday revealed that it has agreed to buy independent television production and distribution company All3Media from its joint owners, DLA Piper-led Warner Bros. Discovery Inc. and Liberty Global Ltd., in a £1.15 billion ($1.45 billion) deal that will allow the independent production company to continue developing and producing programming.

  • February 16, 2024

    Paul Weiss-Led PE Firms Buying HireRight In $1.65B Deal

    Paul Weiss Rifkind Wharton & Garrison LLP is guiding private equity firms General Atlantic and Stone Point Capital on a $1.65 billion deal to purchase all the outstanding shares of HireRight Holdings Corp. they do not already own, HireRight said in a statement Friday.

  • February 16, 2024

    Lawyers Advising PE On Alternative Exits Amid Market Slump

    Private equity firms have turned to their lawyers to find creative solutions for realizing cash for investors as deals activity in the IPO market in London remains sluggish — such as setting up continuation funds, making partial sales or working creatively with debt.

  • February 15, 2024

    7th Circ. Rejects Ancestry.com's Arbitration Bid In Privacy Suit

    The Seventh Circuit on Thursday upheld a lower court's decision that minors suing Ancestry.com for sharing their genetic testing information can avoid arbitration, saying there was no language in the terms their parents signed designating the children as parties to the agreement.

  • February 15, 2024

    Shoppers Say Albertsons-Kroger Suit Shortcomings Fixed

    Consumers challenging Kroger's $24.6 billion bid for Albertsons defended their revised lawsuit in California federal court against the supermarkets' latest dismissal bid, arguing their tweaked complaint now adequately identifies the affected stores and lays out how the deal threatens competition.

  • February 15, 2024

    Citadel Securities, Others Beat Biotech Spoofing Suit, For Now

    A New York federal judge has adopted in full a magistrate judge's recommendation to toss a suit accusing several broker-dealers, including Citadel Securities LLC and Virtu Americas LLC, of carrying out a spoofing scheme that repeatedly drove a biotechnology company's share price down, saying he agrees with the report's finding that the suit fails to show that the alleged scheme caused lower stock prices in every instance.

  • February 15, 2024

    Baker McKenzie Can't Send Malpractice Suit To London

    An Illinois state appeals court has rejected a push by Chicago-based Baker McKenzie to transfer to London a legal malpractice suit accusing the international law firm of botching a client's bid to reacquire a coal mine in Russia, saying in a 2-1 decision that Cook County has an interest in deciding the case even if the alleged misconduct stems from attorneys in a Russian member firm.

  • February 15, 2024

    Trian Decries Disney's 'Spaghetti-Against-The-Wall' Strategy

    Walt Disney Co. shareholder and activist investor The Trian Group is taking a public swipe at the company's performance, criticizing its "fairy tale" and "spaghetti-against-the-wall" strategy to improve profits.

  • February 15, 2024

    Freenome Raises $254M For Early Cancer Detection Tests

    Cancer-focused biotechnology company Freenome said Thursday it has raised $254 million from investors to advance cancer detection tests in its pipeline.

Expert Analysis

  • Planning For Stymied HSR Filings At FTC If Shutdown Occurs

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    If the government were to shut down in early March, the inability to submit Hart-Scott-Rodino filings with the Federal Trade Commission would grind transactions to a halt, and parties should consider numerous implications as they are negotiating or planning to close pending transactions, say attorneys at DLA Piper.

  • Challenges Remain In Financing Energy Transition Minerals

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    COP28, the latest U.N. climate conference, reached a consensus on a just and equitable transition from fossil fuels to renewable energy, but more action and funding will be needed to ensure that developed countries responsibly source the minerals that will be critical for this process, say attorneys at Watson Farley.

  • Loan Transparency Proposals May Bring Some Clarity

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    U.S. banking regulators' proposed revisions to rules that would require banks to disclose more granular information about loans made to nondepository financial institutions would somewhat clarify the size of the fund finance market, though full enlightenment does not look likely in the near future, says Chris van Heerden at Cadwalader.

  • Texas Ruling Clarifies That Bankruptcy Shields LLC Rights

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    A Texas bankruptcy court’s recent ruling in In re: Envision makes it clear that the Bankruptcy Code preempts a section of Delaware state law that terminates a member’s interest in an LLC upon a bankruptcy filing, clarifying conflicting case law, say Larry Halperin and Joon Hong at Chapman and Cutler.

  • Series

    Coaching High School Wrestling Makes Me A Better Lawyer

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    Coaching my son’s high school wrestling team has been great fun, but it’s also demonstrated how a legal career can benefit from certain experiences, such as embracing the unknown, studying the rules and engaging with new people, says Richard Davis at Maynard Nexsen.

  • SG's Office Is Case Study To Help Close Legal Gender Gap

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    As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.

  • Navigating New Regulations In Healthcare And Other M&A

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    While notice requirements recently enacted in several states are focused on the healthcare industry for now, this trend could extend to other industries as these requirements are designed to allow regulators to be a step ahead and learn more about a transaction long before it occurs, say Kathleen Premo and Ashley Creech at Epstein Becker.

  • New CMS Rule Will Change Nursing Facility Disclosures

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    A new rule from the Centers for Medicare & Medicaid Services significantly expands disclosure requirements for nursing facilities backed by private equity companies or real estate investment trusts, likely foreshadowing increased oversight that could include more targeted audits, say Janice Davis and Christopher Ronne at Morgan Lewis.

  • Opinion

    3rd-Party Financiers Have Power To Drive Mass Tort Cases

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    The abnormal recovery premium presented by modern mass tort cases coupled with their deemphasized role for attorneys creates an opportunity for third-party financiers to both create and control these cases, says Samir Parikh at Lewis & Clark Law School.

  • Del. Dispatch: Clarification On Fiduciary Duties Of Controllers

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    The Delaware Chancery Court’s January opinion in a Sears Hometown and Outlet Stores' stockholder dispute — holding that a controlling stockholder owes the company and minority shareholders some fiduciary duties when selling shares or voting to change the status quo — suggests instances where investors opposing board decisions should tread carefully, say attorneys at Fried Frank.

  • FTC AI Inquiry Signals Intensified Focus On Emerging Tech

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    The Federal Trade Commission's recent inquiry into investments and partnerships between Big Tech companies and artificial intelligence startups appears to be directed at guiding future enforcement decisions in competition, privacy and consumer protection — and three principles discussed at a related tech summit give insight on the agency's approach, say attorneys at Skadden.

  • What Shareholder Approval Rule Changes Mean For Cos.

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    The U.S. Securities and Exchange Commission recently approved proposed rule changes to shareholder requirements by the New York Stock Exchange, an approval that will benefit listed companies in many ways, including by making it easier to raise capital from passive investors, say attorneys at Baker Botts.

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

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    While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Series

    ESG Around The World: Brazil

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    Environmental, social and governance issues have increasingly translated into new legislation in Brazil since 2020, and in the wake of these recently enacted regulations, we are likely to see a growing number of legal disputes in the largest South American country related to ESG issues such as greenwashing if companies are not prepared to adequately adapt and comply, say attorneys at Mattos Filho.

  • Series

    Competing In Dressage Makes Me A Better Lawyer

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    My lifelong participation in the sport of dressage — often called ballet on horses — has proven that several skills developed through training and competition are transferable to legal work, especially the ability to harness focus, persistence and versatility when negotiating a deal, says Stephanie Coco at V&E.

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