Simpson Thacher-Led KKR Buys Fund Administrator For $5B

By Najiyya Budaly

KKR said Tuesday that it will buy private capital fund administrator Gen II for $5.1 billion, including debt, from London-based private equity firm Hg and U.S. growth equity provider General Atlantic.

Read full article » | Save to favorites »

4 Firms Advise On $5.8B Option Care Health Take-Private Deal

By Al Barbarino

Private equity firm Clayton Dubilier & Rice and healthcare company McKesson Corp. said Tuesday they have agreed to acquire Option Care Health for $5.8 billion, taking the largest U.S. independent provider of home and alternate-site infusion services private.

Read full article » | Save to favorites »

Justices Seem To Support End To Intel 401(k) Fund Suit

By Kellie Mejdrich

The U.S. Supreme Court appeared likely Tuesday to affirm a Ninth Circuit decision ending a federal benefits dispute against Intel Corp. from ex-workers who alleged that underperforming 401(k) funds breached fiduciary duties, as multiple justices indicated support for requiring that claims predicated on underperformance include meaningful comparisons.

Read full article » | Save to favorites »

Groq Investors Sue Over Nvidia's $20B 'Reverse Acqui-Hire'

By Jarek Rutz

Two former Groq Inc. stockholders have sued the artificial intelligence chip company's directors and a former officer, alleging in a Delaware Chancery Court complaint that they improperly handed Groq's technology and engineering workforce to Nvidia Corp. through a roughly $20 billion reverse acqui-hire without a stockholder vote or a process aimed at getting the best price.

Complaint attached | Read full article » | Save to favorites »

Willkie-Led LS Power Secures $6B For Energy-Focused Fund

By Jade Martinez-Pogue

North American energy-focused investment firm LS Power, advised by Willkie Farr & Gallagher LLP, on Tuesday revealed that it had wrapped up its sixth fund with roughly $6 billion in investor commitments.

Read full article » | Save to favorites »

Hertz Brass Sued Over EV Write-Downs, Stock Buybacks

By Jarek Rutz

A Hertz Global Holdings Inc. stockholder has sued former CEO Stephen M. Scherr and a group of current and former officers and directors in Delaware Chancery Court, accusing them of concealing weak demand for electric-vehicle rentals while pursuing an EV strategy that allegedly left the rental-car company with hundreds of millions of dollars in losses.

Complaint attached | Read full article » | Save to favorites »

SEC Says Fintech Inflated Revenue In $6.7M Seed Raise

By Katryna Perera

The U.S. Securities and Exchange Commission has sued financial technology startup Kalder Inc. and its convicted founder and former CEO, alleging that they made false and misleading statements to investors in connection with a $6.7 million seed financing round.

Complaint attached | Read full article » | Save to favorites »

Roundup

NC Biz Court Bulletin: Monopoly Suit Setback, Historic Deal

By Hayley Fowler

The North Carolina Business Court rounded the corner into fall with a setback for residents in an antitrust class action, a historic settlement in "forever chemical" contamination litigation and a raft of new restrictive covenant complaints.

Read full article » | Save to favorites »

Investment Firms Boost Offer For Italian Pharma Biz Recordati

By Joel Poultney

Investment companies CVC and Groupe Bruxelles Lambert upped their offer on Tuesday for Italian pharmaceutical company Recordati from €51.29 ($58) to €53.71 per share, representing the "best and final offer" as the investors move to take the business private.

Read full article » | Save to favorites »

Skadden, Davis Polk Guide DayOne Data Centers' IPO Filing

By Nate Beck

Singapore-based DayOne Data Centers, a developer of data centers in Europe and Southeast Asia, has filed documents for an upcoming initial public offering guided by Skadden Arps Slate Meagher & Flom LLP and underwriters counsel Davis Polk & Wardwell LLP.

Read full article » | Save to favorites »

RPC Launches First US Office In NY With Insurance Partner

By Andrea Keckley

International law firm Reynolds Porter Chamberlain LLP is expanding into the U.S. with a New York office led by an insurance coverage specialist formerly with Kaufman Borgeest & Ryan LLP.

Read full article » | Save to favorites »

Foley Hoag Adds 3 Partners In Denver

By Christine DeRosa

Foley Hoag LLP has grown its intellectual property, emerging company and venture capital offerings in Colorado with the addition of three partners, two from Sheridan Ross PC and another from Pillsbury Winthrop Shaw Pittman LLP.

Read full article » | Save to favorites »

Justices' Docs Should Belong To Public, Gov't Watchdogs Say

By Jack Karp

Nearly two dozen government accountability groups are calling for Congress to enact a law that would make U.S. Supreme Court justices' papers government property that would someday be available to the public.

Read full article » | Save to favorites »

Omni Bridgeway Raises $1B For New Litigation Funding

By Ryan Boysen

Litigation funder Omni Bridgeway has raised a new $1 billion fund from mostly repeat investors, with plans to deploy the money broadly across countries and case types while avoiding debt leverage.

Read full article » | Save to favorites »

ABA Accreditor Leader Remembered For Passion And Intellect

By Emma Cueto

After her sudden death while leading the American Bar Association council that handles law school accreditation, Melissa Hart is being remembered as a passionate and fiercely intelligent jurist, mentor and leader who will be missed as the council navigates numerous challenges to its accreditor status.

Read full article » | Save to favorites »

Mich. Tribal Officials Detail Missing Persons Plan At Summit

By Melanie Dorsey

Officials from the Bay Mills Indian Community outlined how they plan to respond to cases of missing and murdered Indigenous people at a summit in Michigan on Wednesday, explaining how the tribe will coordinate law enforcement, victim services and community resources and sharing lessons learned from previous missing persons cases. 

Read full article » | Save to favorites »

Alito Explains Recusal But Says It Shouldn't Become Practice

By Katie Buehler

U.S. Supreme Court Justice Samuel Alito said this week he "reluctantly" recused himself from a dispute that could decide whether state and local government can sue Big Oil in state courts for damages related to greenhouse gas emissions, while suggesting the high court's members shouldn't make a practice of explaining their reasons for stepping away from cases.

Read full article » | Save to favorites »