Oura Cites Market 'Uncertainty' In Delaying Estimated $2B IPO

By Jade Martinez-Pogue

Fitness-tracking ring maker Oura on Tuesday revealed that it is delaying its planned initial public offering, citing "uncertainty in the IPO market," just a week after the company told U.S. regulators that it hoped to raise $2.1 billion in the public debut.

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Proskauer-Led Princeton Equity Clinches $1.3B Fund

By Jade Martinez-Pogue

Proskauer Rose LLP-advised private equity shop Princeton Equity Group on Tuesday announced that it has wrapped its third fund with $1.3 billion of investor commitments.

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Del. Chancery Rejects Saama Founder's $68M Earnout Bid

By Jarek Rutz

The Delaware Chancery Court has rejected a bid from Saama Technologies founder Suresh Katta for a $67.5 million earnout tied to Carlyle Group's 2021 investment in the clinical data company and ordered him to pay Saama about $7.3 million, finding that he acted in bad faith by pushing contracts that damaged the business to maximize the payout.

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Del. Chancery Freezes 32.1M Talkdesk Shares In Viking Fight

By Jarek Rutz

The Delaware Chancery Court on Tuesday temporarily barred Talkdesk Inc. from disposing of roughly 32.1 million shares it received through a disputed foreclosure involving founder and CEO Tiago Paiva, while ordering expedited proceedings on a claim from investors of Viking Global that the deal violated their contractual consent rights.

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3 Firms Build Capitolis' $200M Deal To Acquire eSecLending

By Jade Martinez-Pogue

Financial technology company Capitolis on Tuesday unveiled plans to buy eSecLending from private equity shop Parthenon Capital in a $200 million all-cash deal built by three law firms.

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Brief

Kirkland, Cooley Steer Transom's SoundThinking Take-Private

By Al Barbarino

California middle-market private equity firm Transom Capital Group has agreed to acquire SoundThinking Inc. for up to approximately $159 million, the public safety technology company said Tuesday. 

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Preparing For Broader Calif. Rules On PE Healthcare Deals

California's recent emergency regulations implementing expanded healthcare transaction review requirements, such as for private equity and hedge funds, represent a notable expansion of state oversight, including enhanced disclosures, wider definitions and new advance notice requirements, say attorneys at Simpson Thacher.

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How Restitution Became Del. Chancery Court's Middle Ground

Though monetary relief is the Delaware Court of Chancery's favored form of compensating shareholders injured by a breached transaction, Ramadurgam v. Destiny XYZ illustrates how restitution, rather than rescission, can also be a viable option for squeezed-out shareholders to present to the court, says Ashwini Jayaratnam at DarrowEverett.

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What Comes Next For Digital Asset Regs After Clarity Act Flop

After the U.S. Senate recently blocked the Digital Asset Market Clarity Act, agency rulemaking could still offer a near-term remedy, and companies meanwhile should monitor the existing framework assembled from enforcement precedent and case law in the absence of a purpose-built statute, say attorneys at Ropes & Gray.

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The Law360 Pulse Prestige Leaders: A Look At The Top Firms

Today's most prestigious firms attract top talent and marquee clients while posting record profits. Here's a look at the top 10 firms in this year's Law360 Pulse Prestige Leaders, a ranking of the firms that stand out for their prominence, power and distinction.

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DOJ Accuses Judges Of Ethics Violations With Press Remarks

By Jack Karp

Several Minnesota federal judges ran afoul of their ethical obligations when they commented on President Donald Trump's immigration policies in a recent news article, the U.S. Department of Justice said in a judicial misconduct complaint filed Wednesday.

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Federal Bar Discussion Looks At Courts' Role In Regulating AI

By Bonnie Eslinger

A Federal Bar Association discussion Wednesday in California about AI and how it will be regulated in the United States prompted the Northern District's new chief judge to ask whether Congress' "inability to pass laws" will leave it to the courts "to figure out how we're going to do this."

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DOJ Atty Picked For Judgeship Probed On Fulton County Raid

By Courtney Bublé

A top U.S. Department of Justice official tapped for a federal judgeship faced questions from Democratic lawmakers on Wednesday about the department's investigation in Fulton County, Georgia, over Trump's allegations of fraud in the 2020 election.

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Texas AG Says ABA Stifling Law School Competition

By Spencer Brewer

The Texas Attorney General announced an investigation into the American Bar Association relating to alleged anticompetitive conduct in the association's accreditation of law schools, claiming Wednesday that the ABA "weaponized its accreditation authority" to push "unconstitutional racial and gender preference requirements."

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Sen. Blackburn Sues Smith For Seizing Phone Records

By James Boyle

U.S. Sen. Marsha Blackburn alleges in a federal complaint filed Wednesday that Jack Smith illegally subpoenaed her phone records as part of an investigation into alleged efforts to overturn the results of the 2020 presidential election.

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3rd Circ. Calls Westlaw AI Fight 'Ordinary Copyright Case'

By Ivan Moreno

The Third Circuit said the first appellate fight over artificial intelligence training and fair use ultimately came down to an "ordinary copyright case," affirming that Ross Intelligence infringed Thomson Reuters' Westlaw headnotes when it used them to train a competing legal research platform.

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Blank Rome Seeks Time To Exit LIV Golf's Fla. Office

By Ben Zigterman

Blank Rome LLP on Wednesday filed a limited objection to LIV Golf's motion to reject its sublease at an office building in West Palm Beach, Florida, saying it didn't receive any advance notice and would like until the end of October to transition to a new office.

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Roundup

Defamation Litigation Roundup: Candace Owens, Firm DQ

By Theresa Schliep

In this month's review of defamation fights, Law360 highlights a new suit over right-wing media personality Candace Owens and her conspiracy theories about the killing of conservative activist Charlie Kirk, as well as Quinn Emanuel's disqualification from a suit against a former client.

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Tort Report: Uber Owes $40M In Abandoned Rider Death Case

By Y. Peter Kang

A $40 million arbitration award in a case over an Uber incident and looming litigation against the federal government over a highly publicized U.S. Immigration and Customs Enforcement raid on a Hyundai-LG plant in Georgia lead Law360's Tort Report, which compiles recent personal injury and medical malpractice news that may have flown under the radar.

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Roundup

Hub Hires: Mintz, Foley Hoag, Barclay Damon

By Chris Villani

Boston saw several significant moves across its legal landscape as the summer wound down, with Foley Hoag adding an experienced debt finance attorney from Goodwin Procter, a boutique white collar firm snagging a longtime federal prosecutor, and Mintz getting new leadership for the first time in nearly two decades.

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