Citron Founder Convicted Of Manipulating Stock Prices

By Hailey Konnath

A California federal jury Monday returned a verdict finding Citron Research founder Andrew Left guilty of using his public platform, including tweets, to manipulate the stock prices of a slew of companies, according to the U.S. Department of Justice.

Read full article » | Save to favorites »

EasyJet Deems £3B Castlelake Bid 'Highly Opportunistic'

By Najiyya Budaly

Budget airline EasyJet said Monday that a proposed £3.06 billion ($4.11 billion) bid from Castlelake LP, an alternative investment firm, is "highly opportunistic" because its share price has been depressed since the conflict in the Middle East started.

Read full article » | Save to favorites »

Anthropic Confidentially Files IPO Plans

By Lauren Berg

Artificial intelligence giant Anthropic announced Monday that it had confidentially submitted a proposed initial public offering to the U.S. Securities and Exchange Commission, just days after it hit a post-money valuation of $965 billion after securing $65 billion of investor commitments in its massive Series H funding round.

Read full article » | Save to favorites »

KnowBe4 Escapes Suit Over $4.6B Take-Private Deal

By Sydney Price

Security awareness platform KnowBe4 and several affiliates successfully argued for dismissal of a suit from shareholders challenging the company's $4.6 billion sale to private equity firm Vista Equity Partners, with the court finding the suit does not adequately allege the company's ex-CEO and its financiers breached their fiduciary duties.

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

Sidley Austin-Led Hiab To Buy Refuse Vehicle Co. For $1B

By Najiyya Budaly

Finnish industrial machinery business Hiab said Monday that it will buy Labrie Environmental Group, the Canadian manufacturer of refuse collection vehicles, from U.S. private equity firm Wynnchurch Capital LP for $1.035 billion in cash.

Read full article » | Save to favorites »

2 Firms Advise Data-Center Power Generator's $600M IPO

By Tom Zanki

ERock, a company that makes natural gas power systems for data centers, said it aims to raise $600 million at midpoint in an upcoming initial public offering guided by Gibson Dunn & Crutcher and Davis Polk LLP.

Read full article » | Save to favorites »

Valeant Investors Should Get Cert. In PwC Fight, Report Says

By Dorothy Atkins

A special master recommended Monday that a New Jersey federal judge certify a class of Valeant Pharmaceuticals stockholders looking to hold PwC liable for missing "red flags" that could have caught what they called market manipulation by the pharmaceutical company, rejecting the professional services giant's argument that the lead plaintiff's claims are atypical and "lawyer-driven."

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

Catching Up With Delaware's Chancery Court

By Jarek Rutz

The Delaware Chancery Court this past week handled disputes involving merger litigation, startup financing battles, cryptocurrency contracts, investor oversight claims and corporate governance challenges, while also issuing notable rulings in cases tied to World Wrestling Entertainment Inc., cybersecurity company KnowBe4 Inc. and biotechnology firm Ayala Pharmaceuticals Inc.

Read full article » | Save to favorites »

4 Mass. Rulings You May Have Missed In May

By Julie Manganis

A bankruptcy trustee may continue to pursue claims that a lender violated an oral amendment to a loan agreement, a former executive for a Dunkin' franchisee cannot push his case to Delaware, and a law firm hired to represent an investment fund is not responsible for the revocation of a visa for one of the fund's co-founders after he was terminated, judges in Suffolk County's Business Litigation Session concluded in May.

4 documents attached | Read full article » | Save to favorites »

O'Melveny Adds M&A Pro From Paul Hastings In SF

By Rose Krebs

O'Melveny & Myers LLP announced Monday that it has welcomed back a mergers and acquisitions attorney who started his career at the firm before most recently working at Paul Hastings LLP.

Read full article » | Save to favorites »

What End Of SEC Settlement Gag Rule Means For Defendants

The U.S. Securities and Exchange Commission's recent rescinding of its gag rule prohibiting defendants from publicly denying allegations in settled SEC enforcement actions actually heightens the need to think strategically when negotiating resolutions and pursuing public denials of wrongdoing, say attorneys at Cleary.

Read full article » | Save to favorites »

Ill. Passes Bill To Restrict Outside Investment In Legal Sector

By Emma Cueto

The Illinois state Legislature has passed a bill that aims to stop attorneys from fee sharing with non-lawyer-owned firms in other states and from accepting outside investment via a managed service organization structure.

Read full article » | Save to favorites »

Bonus Spotlight

Hueston Hennigan To Pay Summer Bonuses Up To $35K

By Tracey Read

Trial firm Hueston Hennigan is the second boutique to announce it will dole out midyear bonuses to associates.

Read full article » | Save to favorites »

As Judicial AI Use Gains Steam, Training Lags

By Emily Sawicki

Court systems around the country are emerging bullish on the use of generative artificial intelligence by judicial officers, but implementation, training, resources and overall regulations remain scattershot, giving rise to concerns that a learning gap could lead to missteps.

Read full article » | Save to favorites »

Roundup

The Top In-House Hires Of May

By Michele Gorman

Legal department hires during the past month included high-profile appointments at Chevron, Barclays and Topgolf. Here, Law360 Pulse looks at some of the top in-house announcements from the last full month of spring.

Read full article » | Save to favorites »

Plaintiffs' Counsel In Tylenol MDL Agree To $50K Donation

By Gianna Ferrarin

A plaintiffs' attorney and law firm sanctioned in multidistrict litigation alleging prenatal exposure to acetaminophen can cause autism agreed to donate $50,000 to maternal health organization March of Dimes in lieu of paying attorney fees, according to a letter filed Monday in New York federal court. 

2 documents attached | Read full article » | Save to favorites »

DOJ Will Obey Order Freezing $1.8B 'Slush Fund'

By Courtney Bublé

The U.S. Department of Justice announced Monday it will abide by a federal judge's decision to temporarily pause the $1.8 billion "anti-weaponization" fund, adding that it disagreed with the ruling.

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

Kia, Hyundai Workers' Attys Get $3.45M Fee Award In Visa Suit

By Benjamin Morse

A Georgia federal court on Monday awarded $3.45 million in attorney fees and costs to lawyers for workers who reached an $11.5 million settlement over claims that a Hyundai supplier, a Kia plant and staffing agencies recruited skilled Mexican engineers for production work and underpaid them.

2 documents attached | Read full article » | Save to favorites »

Roundup

Hub Hires: Foley Hoag, Holland & Knight, Paul Hastings

By Julie Manganis

The rapidly expanding gaming and sports betting industry brought more legal industry players to the table in Massachusetts in May, with two firms beefing up their bench in that area, while other local attorneys made midcareer leaps into new roles.

Read full article » | Save to favorites »

Titan Of The Plaintiffs Bar: Labaton Keller's Michael Canty

By Allison Grande

When Labaton Keller Sucharow LLP partner and general counsel Michael Canty decided to pursue a legal career, he had no doubt about what type of lawyer he wanted to be. 

Read full article » | Save to favorites »