Artificial intelligence infrastructure company TECfusions reached a $4 billion valuation in a Wednesday deal guided by Sidley Austin LLP and Paul Hastings LLP to go public using a blank check company.
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THURSDAY, JULY 23, 2026 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Paul Hastings, Sidley Guide Data-Center Co.'s $4B SPAC Deal

By Nate Beck

Artificial intelligence infrastructure company TECfusions reached a $4 billion valuation in a Wednesday deal guided by Sidley Austin LLP and Paul Hastings LLP to go public using a blank check company.

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Co. Turned Away Simpson Thacher's Deal Meeting, Jury Told

By Cara Salvatore

A retired Simpson Thacher & Bartlett LLP partner who handled the fundraising round alleged to have destroyed Patriot National Inc. testified in a Florida state malpractice trial Wednesday that the insurance services company waved off his attempt to present details to the board.

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DOL Takes Swipe At Derisking Cases In Bristol-Myers Brief

By Grace Elletson

The U.S. Department of Labor urged the Second Circuit to shut down a suit claiming drugmaker Bristol-Myers Squibb violated federal benefits law by offloading $2.6 billion in pension liabilities to a risky annuity provider, saying benefit plans stand to suffer if courts greenlight flimsy claims of injury.

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Altria, Juul Ask 9th Circ. To Nix Antitrust Classes

By Matthew Perlman

Altria and Juul are urging the Ninth Circuit to undo a class certification ruling in an antitrust case over Altria's past investment in the e-cigarette maker, saying the classes include disparate groups of purchasers from across the country.

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ENFORCEMENT

Senior SEC Enforcer To Exit Agency After 16-Year Career

By Katryna Perera

A former acting enforcement head at the U.S. Securities and Exchange Commission will depart at the end of July after a 16-year career with the agency.

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DEALS & FINANCING

Candid Health Wraps $120M Series D Funding Round

By Jade Martinez-Pogue

Autonomous revenue cycle management platform Candid Health, advised by Lowenstein Sandler LLP, on Wednesday revealed that it raised $120 million in its latest funding round, marking a three-times increase in valuation over the San Francisco-based company's previous funding round in February 2025.

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EXPERT ANALYSIS

Parsing Who Gets The Track Record In A Venture Partner Split

A recent California federal court order in TEEC Angel Management v. Tsingyuan Ventures allowing Lanham Act claims to proceed confirms that the question of who gets to tell the story of a shared win is now being litigated as false advertising instead of industry professional etiquette, says Ben Dubin at VC Expert Services.

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$400M Serta Ruling Offers Warning On Uptier Deal Risks

A Texas bankruptcy court's recent remand ruling, which disallowed Serta Simmons Bedding’s uptier debt exchange and awarded $400 million to the minority lenders, demonstrates why deal counsel negotiating similar agreements should clearly define exceptions and lien subordination, while litigators should lean on express terms, says Jamie Aycock at Yetter Coleman.

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LEGAL INDUSTRY

500-Member NYC Public Defender Union Ends Strike

By Andrea Keckley

The first and so far only New York City public defender union to go on strike this year announced on Wednesday that its approximately 500 members are returning to work after reaching a tentative agreement with their managers.

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ABA Rips DOJ's 'Absurd' Firm Subpoenas In Documents Fight

By Emily Sawicki

The American Bar Association has blasted as "absurd" the government's move to subpoena law firms as an attempt to avoid a documents request from the organization amid allegations the Trump administration worked to intimidate law firms into conforming with his policy goals through executive orders last year.

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Jack Smith's Lawyers Say Criminal Referral Twists Testimony

By Courtney Bublé

Former Special Counsel Jack Smith's legal team has said the criminal referral a U.S. congress member sent the Department of Justice to investigate Smith is based on a "spurious claim."

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Does Your Pay Measure Up? Take The Law360 Pulse 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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Simpson Thacher Warned Co. About Deal Terms, Jury Told

By Cara Salvatore

A retired Simpson Thacher & Bartlett LLP partner who handled the fundraising vehicle alleged to have destroyed Patriot National Inc. told a Florida jury Thursday that he flagged deal terms that later became detrimental to the insurance services company.

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Senate Confirms 2 Judges, Advances Ohio And Colo. Picks

By Courtney Bublé

The Senate on Thursday voted 48-47 to confirm Judge Daniel Traynor of the District of North Dakota to the U.S. Court of Appeals for the Eighth Circuit and 49-44 to confirm Antonio M. Pozos, a partner at Faegre Drinker Biddle & Reath LLP, as a judge for the Eastern District of Pennsylvania.

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Harvard Law School Illegally Froze Pay, ULP Claims

By Katherine Smith

Harvard Law School violated federal labor law by failing to give clinical instructors annual raises and bonuses — which they had received previously — after they unionized with a United Auto Workers affiliate, the instructors alleged in an unfair labor practice charge Thursday.

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COMPANIES IN TODAY'S NEWS

American Bar Association

Bristol-Myers Squibb Co.

Brooklyn Defender Services

Center for Family Representation Inc.

Foothill Ventures

Incora

Instagram Inc.

Invesco Ltd.

Investments Ltd.

JPMorgan Chase & Co.

JUUL Labs Inc.

KeyCorp

LinkedIn Corp.

Murray Energy Corp.

Nasdaq Inc.

Neighborhood Defender Service of Harlem

Oak HC FT

Patriot National Inc.

Serta Simmons Bedding LLC

State Street Global Advisors Inc.

TECfusions

TPC Group Inc.

The Bronx Defenders

U.S. Bancorp

UBS Group AG

United Auto Workers

Zoom Communications Inc.

LAW FIRMS IN TODAY'S NEWS

Burns Charest

Cera LLP

Cleary Gottlieb

Conrad & Scherer

Covington & Burling

Faegre Drinker

Gibson Dunn

Goodwin Procter

Kaplan Fox

Kelley Drye

Kellogg Hansen

Lowenstein Sandler

Mayer Brown

Paul Hastings

Proskauer Rose

Radice Law Firm

Schlichter Bogard

Segal Roitman

Sidley Austin

Simpson Thacher & Bartlett

Stearns Weaver

Susman Godfrey

Wilkinson Stekloff

Williams & Connolly

Yetter Coleman

Zuckerman Spaeder

Zwerling Schachter

GOVERNMENT AGENCIES IN TODAY'S NEWS

Executive Office of the President

Federal Trade Commission

National Labor Relations Board

U.S. Bankruptcy Court for the District of Delaware

U.S. Bankruptcy Court for the Southern District of Ohio

U.S. Court of Appeals for the Eighth Circuit

U.S. Court of Appeals for the Fifth Circuit

U.S. Court of Appeals for the Ninth Circuit

U.S. Court of Appeals for the Second Circuit

U.S. Department of Justice

U.S. Department of Labor

U.S. District & Bankruptcy Courts of Southern District of Texas

U.S. District Court for the District of Columbia

U.S. District Court for the Eastern District of Pennsylvania

U.S. District Court for the Northern District of California

U.S. District Court for the Southern District of New York

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

United States District Court for the District of Colorado

United States District Court for the District of North Dakota