CVC Ends Bodycote Pursuit As Veritas' £1.85B Offer Accepted

By Irene Madongo

CVC said Monday that it will not go ahead with its proposed takeover of Bodycote after the thermal-processing company's board backed a rival £1.85 billion ($2.5 billion) offer from Veritas.

Read full article » | Save to favorites »

Brixmor, Everview Team Up On $2.34B Grocery REIT Buy

By Al Barbarino

Brixmor Property Group and private investment firm Everview Partners have agreed to acquire Canadian-listed Slate Grocery REIT in a transaction valued at about $2.34 billion, the companies said Monday, with at least seven law firms advising on the deal.

Read full article » | Save to favorites »

Kirkland, White & Case Lead Defense Firm's $1.25B SPAC Deal

By Al Barbarino

REDLattice and blank check company Bold Eagle Acquisition Corp. said Monday they have agreed to merge in a deal that would take the cyber intelligence company public at a $1.25 billion premoney enterprise value.

Read full article » | Save to favorites »

Lantheus Investor Asks Court To Halt 'Unfair' $8B Curium Deal

By Julie Manganis

A Lantheus Holdings Inc. investor wants a Massachusetts state judge to block its $8 billion take-private deal with fellow radiopharmaceutical company Curium in its current form, calling the deal "fundamentally unfair" to shareholders.

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

Personal Assistant AI Biz Instinct Reaches $10B Valuation

By Jade Martinez-Pogue

Artificial intelligence company Instinct on Monday revealed that its valuation soared to $10 billion after it raised $1 billion in its latest funding round.

Read full article » | Save to favorites »

Nextdoor, Khosla Say Investor Brought De-SPAC Suit Too Late

By Jarek Rutz

Nextdoor and Khosla Ventures urged the Delaware Chancery Court on Monday to dismiss a stockholder lawsuit challenging Nextdoor's de-SPAC merger as untimely, arguing the clock began running when the proxy that an investor described as misleading was issued in October 2021, while the plaintiff insisted later disclosures and tolling doctrines keep her claims alive.

Read full article » | Save to favorites »

Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court this past week heard arguments over whether to dismiss a derivative suit accusing UiPath Inc. insiders of misleading investors and trading on inside information, while a Match Group Inc. stockholder sued for records concerning reports of sexual assault and other violence involving users of the company's dating apps.

Read full article » | Save to favorites »

Policyholders Say RICO Plot 'Pillaged' Insurer's Assets

By Aaron Keller

A private equity firm and a financial services business have been hit with civil racketeering claims by the holders of a combined $5 million in PHL Variable Insurance Co. policies, but whose benefits were capped at just $300,000 during a Connecticut state-managed rehabilitation effort.

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

Cannabis Distributor Says Partner Denied Its $332K Stake

By Jonathan Capriel

The manager of a Los Angeles cannabis cultivation facility seized an entire harvest without his business partner's permission, selling much of it until armed men raided the facility and took a significant portion of the inventory, according to a state lawsuit seeking more than $300,000 for the iced-out partner.

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

3 Firms Lead $663.7M Lifecore Biomedical Take-Private Deal

By Jade Martinez-Pogue

Lifecore Biomedical Inc. on Monday unveiled plans to become a private company after it is bought by private equity shop Webster Equity Partners in a deal valued at up to $663.7 million that was built by three law firms.

Read full article » | Save to favorites »

Broadfield, Loeb Guide $587M Aerospace SPAC Deal

By Jade Martinez-Pogue

Aerospace and defense company Astro Digital US, advised by Broadfield LLP, on Monday announced plans to go public by merging with Loeb & Loeb LLP-led special purpose acquisition company Proem Acquisition Corp I in a deal that values it at a pro forma post-money enterprise value of roughly $587 million.

Read full article » | Save to favorites »

Cravath PE Leader Returns To Weil In NY

By Andrea Keckley

Weil Gotshal & Manges LLP has announced that Cravath Swaine & Moore LLP's head of private equity is returning to the firm in New York, saying the move "comes at a time of significant investment and growth at the firm."

Read full article » | Save to favorites »

Senior Lawyers Survey: Tell Us About Your Career

How are senior lawyers adapting to evolving career paths and emerging technologies? Share your perspective in this five-minute survey.

Read full article » | Save to favorites »

Law360's Legal Lions Of The Week

By Kevin Penton

O'Melveny & Myers LLP and Reed Smith LLP lead this week's edition of Law360 Legal Lions, after the Ninth Circuit overturned a $140 million class verdict against CenturyLink, holding that the company had a reasonable interpretation of the Fair Credit Reporting Act.

Read full article » | Save to favorites »

Arkansas Firm 5th To Seal PE Deal With Uplift Investors

By Tracey Read

Arkansas' largest personal injury law firm is the latest legal entity to ink a deal to take private equity investment using Uplift Investors' associated management services organization.

Read full article » | Save to favorites »

AI Mishap Has Judge Questioning 'Our Collective Character'

By Julie Manganis

A California attorney was barred from representing the plaintiffs in a Massachusetts insurance coverage dispute and ordered to pay legal costs of up to $10,000 to opposing counsel, after a federal judge found he relied on "inaccurate and fictitious" case cites and holdings in three filings.

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

Tarter Krinsky Faces Suit After Disclosing Data Breach

By Andrea Keckley

Tarter Krinsky & Drogin LLP maintained "intentional opacity" about a recently disclosed cybersecurity attack last year that may have compromised protected health information, a proposed class action alleged in New York federal court.

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

A2J At The High Court: Gun Bans, Voting And Civil Remedies

By Marco Poggio

From the right to own semiautomatic rifles to the rules governing voter registration, the upcoming U.S. Supreme Court term will see the justices tackle a broad swath of constitutional and access to justice issues.

Read full article » | Save to favorites »

Domino Foods Fights Paul Weiss DQ Bid In Price-Fixing MDL

By Madison Arnold

Domino Foods is pushing back on an attempt to disqualify its counsel from Paul Weiss Rifkind Wharton & Garrison LLP in a sugar price-fixing multidistrict litigation, arguing Hershey, J.M. Smucker and other food makers filed the motion as a "strategic attempt to gain tactical advantage" at a critical point in the dispute.

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

Duane Morris To Settle Employee's Tax Withholding Claim

By Asha Glover

Duane Morris LLP has agreed to private mediation to settle a proposed class action by an employee who alleged that the firm failed to withhold taxes for workers who were misclassified as partners, according to a notice.

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

Roundup

UK Litigation Roundup: Here's What You Missed In London

By Megan Norcott

The past week in London has seen Glencore Energy sue a refinery for allegedly defrauding it out of more than $236 million worth of crude oil, the former CEO of ankle-tag maker Big Technologies file a defamation claim against the company, and property investment group Hunter Jones hit by a claim from the Financial Conduct Authority. 

Read full article » | Save to favorites »

GC Cheat Sheet: The Hottest Corporate News Of The Week

By Sue Reisinger

Wilson Sonsini topped a list of law firms that have alumni attorneys working at six of the country's most prominent tech companies. And general counsel at most large companies expect to increase their litigation budgets next year.

Read full article » | Save to favorites »

In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

Read full article » | Save to favorites »