Nestlé Selling Supplements Business To PE Firm For $1B

By Al Barbarino

Nestlé SA said Tuesday that it will sell its mainstream vitamins, minerals and supplements business to Boston-based private equity firm Yellow Wood Partners for $1 billion, as the food and beverage giant sharpens its focus on businesses where it sees a competitive advantage.

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SEC Sends White House Plan For Retail Private Market Access

By Sarah Jarvis

The U.S. Securities and Exchange Commission's Division of Investment Management has submitted to the White House a proposal to help facilitate retail investors' exposure to private markets and enable investment advisers to charge related performance fees, saying it could provide more opportunities for investors looking to diversify their portfolios.

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Gibson Dunn-Led Veritas Gets Nod For £1.85B Takeover

By Irene Madongo

U.S. private equity company Veritas has agreed to buy British thermal-processing business Bodycote for £1.85 billion ($2.5 billion) inclusive of debt, the companies said Tuesday, potentially trumping rival propositions in a hotly contested bidding war.

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Latham Leads Epiris' £1B Buy Of Gamma Communications

By Najiyya Budaly

Private equity firm Epiris LLP will buy Gamma Communications PLC for £1.015 billion ($1.374 billion), the companies said Tuesday, in a deal that will take the U.K. telecommunications business private.

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Monthly Merger Review Snapshot

By Bryan Koenig

Paramount Skydance and Warner Bros. Discovery pressured state attorneys general challenging their merger to settle, the Federal Trade Commission successfully challenged a construction adhesives tie-up, state officials waded in against the NextEra-Dominion transaction, and Union Pacific Corp. and Norfolk Southern Corp. defended their combination under review by federal regulators.

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Lumen Beats $1.4B Pension Swap Suit

By Jade Martinez-Pogue

A Colorado federal judge on Tuesday ruled in favor of Lumen Technologies in a class action regarding $1.4 billion in pension obligations transferred to a risky insurance company, saying that plan participants could not show they suffered a current cognizable harm of loss of protections and the threat of impending injury was unconvincing.

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Aiolos Seeks To Block Mass. Suit Over $1B GSK Deal

By Jarek Rutz

Aiolos Bio Inc. and two of its founders have asked the Delaware Chancery Court to stop a former Tier1 Bio Inc. stockholder from pursuing a Massachusetts lawsuit over Tier1's 2023 dissolution and Aiolos' later $1 billion sale to GlaxoSmithKline LLC, arguing he agreed to litigate such corporate disputes exclusively in Delaware.

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Crypto Investment Firm Accused Of Fraud Must Face Ga. Suit

By Sydney Price

A Texas-based crypto investment company can't dodge a fraud suit brought against it in Georgia federal court, after a judge said the suit shows the firm and its management transacted business in the Peach State and used a business dinner in Atlanta to tout their offerings.

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Brief

Instant Brands Judge Stops Delaware Suit Against Trustee

By Alex Wittenberg

A Texas bankruptcy judge on Tuesday told former Instant Brands owner Cornell Capital it must get his permission before suing the Instant Pot maker's litigation trustee, blocking a suit Cornell brought in Delaware Chancery Court in July.

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SB Energy Launches Plans For Anticipated $5B IPO

By Jade Martinez-Pogue

Power generation infrastructure company SB Energy has filed plans to raise roughly $5 billion in its initial public offering steered by Latham & Watkins LLP and Davis Polk & Wardwell LLP.

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Ares, Scion Buy Student Housing Portfolio For $435M

By Nate Beck

Student housing owner The Scion Group and an Ares Management affiliate on Tuesday announced an acquisition of a 2,316-bed student housing portfolio from developer and owner Schenk for $435 million.

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Jones Day Hires Corporate Pro From Freshfields In Munich

By Dawood Fakhir

U.S. law firm Jones Day has said it expanded its corporate practice in Europe with the addition of a former Freshfields LLP mergers and acquisitions specialist in Munich, Germany.

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Paul Hastings Hires Freshfields Special Counsel In DC

By Jack Rodgers

Paul Hastings LLP said Tuesday it has hired a former Freshfields LLP special counsel as an antitrust partner in its Washington, D.C., office.

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How Does In-House Pay Compare? Take The Law360 Survey

How do in-house salaries vary across industries, roles, and organizational revenue? What compensation tools are companies using to lure top talent? Help Law360 Pulse answer these questions and more in this year's In-House Compensation Survey.

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HSF Kramer Added To $1B King & Spalding Malpractice Suit

By Jack Karp

Herbert Smith Freehills Kramer LLP and several of its partners on Tuesday were added to a $1 billion legal malpractice suit against King & Spalding LLP alleging that the firms engaged in multiple schemes to enrich a lawyer's friend at the expense of investment firm White Oak Advisors.

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Fla. Bar Tosses Complaint Over DHS GC's 'Worst' Judge Posts

By Adrian Cruz

The Florida Bar has refused to investigate the general counsel of the U.S. Department of Homeland Security for potential ethics violations over his recent series of social media posts attacking sitting judges, citing a potential conflict with the authority of the federal government.

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Approach The Bench: Judge Rodriguez On The Uses Of AI

By Cara Bayles and Steven Trader

Today, Judge Xavier Rodriguez is known as an expert in electronic discovery and a proponent of artificial intelligence, but his interest was piqued before he joined the bench of the Western District of Texas in 2003, when he was still a lawyer and the methods for sifting through electronically stored information were still primitive.

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Judges Say Social Media, Political Rhetoric Endanger Them

By Adrian Cruz

Increased access to social media and personal data via the internet, a larger number of high-profile cases, and inflammatory comments made by politicians have led to a rise in violent threats against judges and concerns about their safety, according to a recently published report.

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5th Circ. Judge Hints Court Order With AI Errors Can't Stand

By Spencer Brewer

A Fifth Circuit judge wanted to know why a panel should keep intact a court order blocking an anti-DEI Mississippi law that contained artificial intelligence hallucinations, asking whether the judges could confidently find that made-up citations did not ultimately sway the district court's decision.

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Ex-Warriors GC, DEI Exec Say Bias Complaints Led To Firings

By Lauren Berg

The Golden State Warriors' former associate general counsel and its former vice president of diversity, equity and inclusion allege they were unlawfully fired in retaliation for speaking up about enduring a workplace marked by gender and race-based discrimination.

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NY Firm, Clinics Reject FedEx's 'Staged' Crashes Claims

By Linda Chiem

A New York personal injury firm and various healthcare providers have told a Manhattan federal judge that FedEx has asserted implausible claims alleging they orchestrated an insurance fraud scheme to fabricate medical records and inflate accident claims, saying there is no such racketeering enterprise.

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Brief

Barnes & Thornburg Says Ex-NBA Star Owes $1M Legal Fees

By Jonathan Capriel

Former NBA player Luol Deng is being sued for more than $1 million by a Chicago-based law firm that claims he failed to pay legal fees connected to two real estate matters, according to a suit filed in Illinois state court.

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Roundup

The Top In-House Hires Of August

By Michele Gorman

Legal department hires during the past month included high-profile appointments at Anthropic, Zillow and ConocoPhillips. Here, Law360 Pulse looks at some of the top in-house announcements from August.

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