Spectrum Equity Clinches Its Largest Fund Ever At $2.5B

By Jade Martinez-Pogue

Growth equity firm Spectrum Equity on Thursday revealed that it has wrapped its 11th fund after securing $2.5 billion in investor commitments.

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Kirkland-Led Aphias Wraps Inaugural Fund At $1.05B

By Jade Martinez-Pogue

Kirkland & Ellis LLP-advised Aphias Capital on Thursday revealed that it closed its inaugural fund with $1.05 billion in tow.

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Blue Owl Brass Sued Over BDC Liquidity Woes

By Jessica Corso

A Blue Owl Capital Inc. investor is suing the company's top brass in New York federal court, arguing that they should be forced to pay up for allegedly hiding from investors that the company's business development unit was struggling.

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Deals Rumor Mill

SpaceX, DeepSeek And Anthropic Top Week's Deal Rumors

By Al Barbarino

SpaceX is seeking financing to purchase $40 billion of Nvidia microchips, Chinese AI company DeepSeek is close to securing a $12 billion funding round, and Anthropic could launch its initial public offering before Thanksgiving. In other reports, Barbie maker Mattel is facing increased pressure to sell after a rough run on the stock market. 

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9/11 Family Sues Cannabis Entrepreneurs Over $1.3M Loss

By Jonathan Capriel

A 9/11 widow and her children are suing a previously sanctioned Los Angeles-area cannabis entrepreneur and his associate in California state court claiming they misused the family's $1.3 million investment, taken from their terrorism-victim compensation fund, after making false promises of guaranteed returns.

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Fla. Court Vacates $5 Law Firm Sales In Litigation Funder Suit

By David Minsky

A Florida state court vacated an order allowing a discount sale of an attorney's $20 million worth of shares in three law firms to a litigation funder seeking to collect on an out-of-state judgment, saying the auction notice wasn't issued properly. 

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Jones Day Adds McDermott RE Finance Atty In Los Angeles

By Emily Johnson

Jones Day has brought on a McDermott Will & Schulte partner in its Los Angeles office, strengthening its financial markets practice.

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How AI Is Reshaping The Structure Of Crypto Venture Deals

As founders at the intersection of crypto and artificial intelligence increasingly face capital-raising quandaries, parties structuring crypto venture deals should weigh how equity, token and hybrid financings allocate value to avoid tricky contractual governance and fiduciary law questions down the line, say attorneys at Cahill Gordon.

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Series

Mentalism Makes Me A Better Lawyer

Convincing strangers I can read their minds may seem like an unusual second career for a legal practitioner, but both disciplines share several important requirements, including trust and preparation, says Warren Biro at Manatt.

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Sheppard Mullin Hit With Class Action Over Data Breach

By Jake Maher

A former Sheppard Mullin Richter & Hampton LLP paralegal launched a proposed class action against the firm in California federal court on Wednesday over a cyberattack it had in August, in which she says at least 1,000 people's names and Social Security numbers were stolen.

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IP Rights Group Urges Against Litigation Funding Disclosure

By Elliot Weld

An inventor rights advocacy group has told a federal courts rules committee that requiring the disclosure of who is funding civil litigation would put independent inventors at a disadvantage when trying to enforce patents against a larger company.

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Analysis

New Fraud Division Flexes Might In Latest Enforcement Policy

By Phillip Bantz

The National Fraud Enforcement Division's new corporate enforcement policy emphasizes the quick pursuit of certain types of fraud through data analysis and staff resources, expands the target list beyond traditional healthcare providers and highlights the division's growing dominance within the U.S. Department of Justice, experts say.

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Cornell Defendant Seeks To Nix James As Special Prosecutor

By Andrea Keckley

One of the seven men accused of drugging and raping a fellow Cornell University student at a fraternity home has asked a New York state court to void Gov. Kathy Hochul's appointment of New York Attorney General Letitia James as special prosecutor in the case.

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Gov't Attys Could Face Sanctions Over AI Use Omissions

By Madeline Lyskawa

A U.S. Court of Federal Claims judge has ordered four government attorneys to explain why they shouldn't be sanctioned for making factual misrepresentations about the U.S. Army's use of artificial intelligence to evaluate contract proposals.

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Split Congress Could Spur Competing Probes, Cleary Finds

By Courtney Bublé

If the new year brings an era of divided Congress, then "dueling investigations" into the same topics should be expected, Cleary Gottlieb Steen & Hamilton LLP said in a report it released Thursday.

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Fla. Judge Says Oct. 7 Attack Was 'Inflection Point' For U.S.

By David Minsky

U.S. District Judge Roy K. Altman addressed a small group of attorneys in a Florida law office to speak on his book about the October 2023 Hamas-led attack on Israel, saying public debate over facts surrounding the event and underlying feud has reached an "inflection point" in America.

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Buzbee Faces $970K Fee Bid In Dismissed Conspiracy Cases

By Lynn LaRowe

A Mississippi lawyer is asking a Texas state court to award her more than $970,000 in fees after defeating claims that she and her law firm conspired with rapper Shawn "Jay-Z" Carter and Quinn Emanuel Urquhart & Sullivan LLP to retaliate against prominent Houston plaintiffs attorney Tony Buzbee and two of his former clients.

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Dems Says GOP Broke Senate Rules In Jack Smith Hearing

By Courtney Bublé

The Democrats on the Senate Judiciary Committee have accused Republicans of violating committee rules during a hearing last week with former special counsel Jack Smith.

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