Private equity-backed medical supplies giant Medline, guided by Simpson Thacher & Bartlett LLP, on Tuesday priced an upsized initial public offering, raising $6.26 billion in what will be the largest IPO of 2025 just weeks before year-end.
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THURSDAY, DECEMBER 18, 2025 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

PE-Backed Medline Prices Long-Awaited $6.3B IPO

By Jade Martinez-Pogue

Private equity-backed medical supplies giant Medline, guided by Simpson Thacher & Bartlett LLP, on Tuesday priced an upsized initial public offering, raising $6.26 billion in what will be the largest IPO of 2025 just weeks before year-end.

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AI Biz Databricks Valued At $134B With Latest Funding Plans

By Jade Martinez-Pogue

Databricks, led by Fenwick & West LLP, on Tuesday revealed that it is raising around $4 billion in a Series L round that would value the data and artificial intelligence company at $134 billion.

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PE Giant KKR Plugs $220M Into Dubai-Based Premialab

By Jade Martinez-Pogue

Data, analytics and risk management solutions provider Premialab, advised by A&O Shearman, on Tuesday revealed that it received a $220 million growth investment from Gibson Dunn & Crutcher LLP-led private equity giant KKR.

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Kering, Ardian Form $900M JV At Luxury NYC Property

By Al Barbarino

French luxury group Kering said Tuesday it has completed another real estate joint venture with private equity firm Ardian, expanding a partnership launched earlier this year with a $900 million deal for a Fifth Avenue retail property in New York City.

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Brief

JP Morgan PE Group's Latest Fund Exceeds Target At $1.44B

By Al Barbarino

J.P. Morgan Asset Management's private equity group closed its 12th flagship fund, PEG Global Private Equity XII, above its $1.25 billion target at $1.44 billion, the firm announced Tuesday. 

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POLICY & REGULATION

Roundup

4 Big Benefits Policy Moves From 2025's 2nd Half

By Kellie Mejdrich

President Donald Trump signed an order aimed at expanding retirement plans' access to investing in a wider range of assets in 401(k) plans, while the government hit the brakes on the previous administration's effort to expand the definition of who is a fiduciary under federal benefits law. Here are four significant policy moves from the latter half of 2025 that benefits attorneys should know. 

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LITIGATION

B. Riley Must Face Investor Suit Over Alleged Fraud Losses

By Sydney Price

A California federal judge has allowed to move forward a proposed investor class action accusing B. Riley Financial Inc. of failing to disclose risks related to its dealings with Brian Kahn, an investment manager who recently pled guilty to securities fraud, though some company executives were allowed to escape the suit.

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EXPERT ANALYSIS

Opinion

A Uniform Federal Rule Would Curb Gen AI Missteps In Court

To address the patchwork of courts’ standing orders on generative artificial intelligence, curbing abuses and relieving the burden on judges, the federal judiciary should consider amending its civil procedure rules to require litigants to certify they’ve reviewed legal filings for accuracy, say attorneys at Shook Hardy.

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Learning From 2025 FCA Trends Targeting PE In Healthcare

False Claims Act enforcement trends and legislative developments from this year signal intensifying state and federal scrutiny of private equity's growing footprint in healthcare, and the urgency of compliance, says Lisa Re at Arnold & Porter.

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LEGAL INDUSTRY

Surveys, Awards & More: Law360's 2026 Editorial Calendar

Law360 publishes several award series throughout the year, including ones that highlight top-performing attorneys and practice groups. Here, find all you need to know about our awards and surveys, including due dates, FAQs, and the questions we'll ask so you can prepare ahead of time.

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Bonus Spotlight

Bonus News: Glenn Agre, Bursor & Fisher Reveal 2025 Levels

By Andrea Keckley

Glenn Agre Bergman & Fuentes LLP told its associates in a memo last week that it would be issuing year-end bonuses ranging from $15,000 to $115,000 and special bonuses ranging from $6,000 to $25,000 based on seniority, with the chance to receive premiums above the year-end bonuses based on "​​extraordinary dedication and/or performance."

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Jackson Walker Wants Settlements Heard Before Romance Trial

By Adrian Cruz

Following a Texas federal judge's decision to hold off on reviewing malpractice settlements with former bankruptcy clients, Jackson Walker LLP asked the court to reconsider, as the pending motions could save parties time and money.

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Analysis

Circuit-By-Circuit Guide To 2025's Most Memorable Moments

By Jeff Overley

Federal circuit courts in 2025 strained under a crush of Trump administration lawsuits, as judges directed animated language at litigants and even their fellow judges. And while the president only added a handful of appellate jurists, they had outsize impacts on circuit benches as they joined the cadre of conservatives seated in his first term.

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CFTC's Pham Will Head To Crypto Co. MoonPay After Exit

By Aislinn Keely

The U.S. Commodity Futures Trading Commission's acting Chair Caroline Pham is set to join cryptocurrency payments firm MoonPay as its top lawyer following her impending departure from the commission, MoonPay announced Wednesday.

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Sterne Kessler Draws Scolding, But No Sanctions Midtrial

By Elliot Weld

A Delaware federal judge said Wednesday she wasn't happy with the tone used by attorneys defending a radiopharmaceutical company from patent infringement claims and that she does not condone the attorneys' conduct in improperly contacting three inventors named in a patent at issue, but she declined to issue the severe sanction of kicking them off the case.

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Analysis

The Top Trademark Decisions Of 2025

By Theresa Schliep

The U.S. Supreme Court vacated a trademark infringement award that reached nearly $47 million and found nonparties couldn't be on the hook for the amount, while the Federal Circuit reproached a trademark tribunal for its handling of a man's attempt to register the F-word. Here are Law360's picks for the biggest trademark decisions of 2025.

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After Questioning Judge Nominee, Sen. Kennedy Wants More

By Courtney Bublé

Sen. John Kennedy, R-La., on Wednesday pressed a judicial nominee for Indiana on statements he's made as an ordained elder on sexuality and marriage.

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Judge's Contact With 'Tiger King' Ex-Atty Won't Disqualify Him

By Ivan Moreno

A Tenth Circuit judge on a panel reviewing a copyright infringement claim against Netflix over a video clip included in its "Tiger King" docuseries can stay on the case after inadvertently contacting a former attorney for the plaintiffs, the parties told the appellate court in separate letters.

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Pentagon Must Justify JAG Firings Under New NDAA

By Courtney Bublé

Under the annual defense policy bill that was sent to the president's desk on Wednesday, the Pentagon will have to explain its firings of military lawyers — a provision that comes after the Trump administration controversially dismissed its top military lawyers at the beginning of the year.

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Feature

The Spiciest Quotes From Massachusetts Courts In 2025

By Chris Villani

Massachusetts courts were replete with high-stakes cases throughout the year, with memorable lines from lawyers and judges alike, including jabs, thoughtful reflections and one defendant "blinded by love."

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COMPANIES IN TODAY'S NEWS

AT&T Inc.

Above the Law

Advanced Accelerator Applications SA

American Bar Association

American Petroleum Institute Inc.

Andreessen Horowitz LLC

Anthropic PBC

Apple Inc.

Ardian

B. Riley Financial Inc.

BP PLC

BlackRock Inc.

Blackstone Inc.

Blue Owl Capital Inc.

Citigroup Inc.

Cloudflare Inc.

Coatue Management LLC

Databricks Inc.

Durable Capital Partners LP

Eicher Motors Ltd.

Exceed Company Ltd.

Exxon Mobil Corp.

Fort Point Capital

Fortress Investment Group LLC

Google LLC

H.I.G. Capital LLC

Hellman & Friedman LLC

Honeywell International Inc.

Instagram Inc.

International Business Machines Corp.

JPMorgan Chase & Co.

Jack Daniel's Properties Inc.

Janus Henderson Group PLC

Johnson & Johnson

Kering SA

Kindred Healthcare LLC

Lantheus Holdings Inc.

Major League Baseball Inc.

Meta Platforms Inc.

Mid America Apartment Communities Inc.

Motorola Mobility LLC

NBCUniversal Media LLC

NFL Enterprises LLC

Nasdaq Inc.

Netflix Inc.

New York University

Prospect Medical Holdings Inc.

Purdue Pharma LP

Reddit Inc.

SAP AG

Samsung Electronics Co. Ltd.

Shell PLC

Southwest Airlines Co.

T. Rowe Price Group Inc.

Takeda Pharmaceutical Co. Ltd.

The Carlyle Group Inc.

The Gores Group LLC

The Home Depot Inc.

The New York Times Co.

Therakos Inc.

Therapeutics Inc.

TikTok Inc.

Verizon Communications Inc.

WCM Investment Management

YouTube Inc.

LAW FIRMS IN TODAY'S NEWS

A&O Shearman

ArentFox Schiff

Arnold & Porter

Boies Schiller

Bursor & Fisher

Caldwell Law Office

Covington & Burling

Crowell & Moring

Debevoise & Plimpton

Fenwick & West

Finnegan

Gibson Dunn

Glancy Prongay

Glenn Agre

HSF Kramer

Hogan Lovells

Irell & Manella

Jackson Walker LLP

Jones Day

Kirkland & Ellis

Knobbe Martens

Kroger Gardis

Lacourte Raquin Tatar

Latham & Watkins

Libby Hoopes

McCarter & English

McDermott Will & Schulte

McDonald Carano

Mitchell Silberberg

Morrison & Foerster

Norton Rose

Paul Weiss

Pomerantz LLP

Rusty Hardin

Shook Hardy

Simpson Thacher & Bartlett LLP

Sterne Kessler

Stranch Jennings

Sullivan & Cromwell

Troutman

Venable LLP

White & Case

Wohl & Fruchter

GOVERNMENT AGENCIES IN TODAY'S NEWS

City and County of San Francisco, California

Commodity Futures Trading Commission

Consumer Financial Protection Bureau

Executive Office of the President

Federal Communications Commission

Federal Trade Commission

Internal Revenue Service

Judicial Conference of the United States

Massachusetts Supreme Judicial Court

National Institutes of Health

National Labor Relations Board

New York Department of Financial Services

U.S. Army

U.S. Court of Appeals for the Federal 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 Tenth Circuit

U.S. Department of Defense

U.S. Department of Education

U.S. Department of Health and Human Services

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 Central District of California

U.S. District Court for the District of Delaware

U.S. District Court for the District of Massachusetts

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

U.S. District Court for the Middle District of Florida

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

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

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

U.S. District Court for the Southern District of Florida

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

U.S. District Court for the Western District of Missouri

U.S. District Court for the Western District of Tennessee

U.S. Patent and Trademark Office

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

United States District Court for the Southern District of Alabama

United States District Court for the Southern District of Indiana