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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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Ex-FBI Analyst Says Bove Ordered Illegal Protester Probe

By Courtney Bublé

A former FBI agent has come forward with a claim that when U.S. Circuit Judge Emil Bove was at the U.S. Department of Justice, he directed the Los Angeles field office to illegally investigate protesters.

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3rd Circ. Judge Faces Ethics Complaint For Managing PR Firm

By Adrian Cruz

A pair of U.S. senators from Delaware have filed an ethics complaint with the Third Circuit raising concerns over U.S. Circuit Judge Jennifer Mascott's purported operation of a public affairs agency, months after she was officially confirmed to the appellate court.

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Cornell Hires Ex-Deputy AG Yates To Lead Internal Review

By Christine DeRosa

Following widespread public outrage over how a former student's rape allegations were handled, Cornell University has hired former deputy U.S. attorney general and King & Spalding LLP partner Sally Yates to lead an internal review of its policies and procedures.

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Judge Newman Gets Suspension Fight Moved To 11th Circ.

By Dani Kass

Chief Justice John Roberts has transferred the Federal Circuit's investigation of suspended U.S. Circuit Judge Pauline Newman to the Eleventh Circuit, the latter court said Tuesday.

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Texas Justices Leery Of Banning AI Deposition Transcripts

By Spencer Brewer

Texas Supreme Court justices seemed hesitant to bar attorneys outright from using artificial intelligence voice transcription software during depositions, pointing out Tuesday that multiple safeguards exist to ensure accuracy.

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DOJ Says 12-Juror Rule Would Cause Unwarranted 'Upheaval'

By Brandon Lowrey

The U.S. Department of Justice on Tuesday urged the Supreme Court to uphold precedent allowing states to use juries of fewer than 12 people in serious criminal cases, saying overruling it could unsettle thousands of convictions and force many states to change their criminal procedure laws.

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Approach The Bench: Judge Panter On Mediating Vs. Judging

By Cara Bayles and Kelley Marcano

When attorneys come before retired Judge Michael Panter, a former circuit court judge in Cook County, Illinois, they sometimes forget that he is not there to decide their cases, but to resolve them.

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UVA Law Prof Takes On Role Of USPTO General Counsel

By Elliot Weld

The U.S. Patent and Trademark Office said University of Virginia School of Law professor John F. Duffy has joined the agency as its general counsel and acting solicitor.

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