Inovalon Investors Reach $44M Deal Over $7.3B Take-Private

By Jarek Rutz

Inovalon Holdings Inc. investors have agreed to a $44 million settlement to end their Delaware Chancery Court suit challenging the healthcare data company's $7.3 billion take-private sale to a Nordic Capital-led consortium, resolving claims that stockholders were misled about conflicts involving the deal's financial advisers.

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Alteryx Stockholders' 'Cleansing' Vote Dooms $4.4B Sale Suit

By Jarek Rutz

The Delaware Chancery Court has dismissed a stockholder suit challenging the $4.4 billion sale of analytics software company Alteryx Inc. to private equity firms Insight Venture Management LLC and Clearlake Capital Group LP, finding that an overwhelming stockholder vote approving the deal wiped out the investors' fiduciary duty claims.

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Siguler Guff Secures $3B For Small Buyout Strategy

By Jade Martinez-Pogue

Private equity shop Siguler Guff & Co. LP on Thursday revealed that it closed on over $3 billion of fundraising capital for its small buyout strategy.

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Appeals Court Skeptical Biz Court Is Wrong Place For Perot Suit

By Spencer Brewer

Texas appellate judges seemed skeptical Thursday of a Dallas businessman's claim that the Texas Business Court doesn't have jurisdiction over his multimillion-dollar suit against Ross Perot Jr., saying the money at stake seems to make the case a fit for the Business Court.

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Cannabis Co. Owners Ask To Toss $2M Investment Suit

By Jonathan Capriel

The entrepreneurs behind a Chicago dispensary urged a federal judge to end a lawsuit accusing them of defrauding investors out of nearly $2 million, arguing the claims have no business being heard in Ohio, belong in arbitration and are legally insufficient.

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Deals Rumor Mill

OpenAI Aims For $1.2T Valuation, More Rumors

By Jade Martinez-Pogue

Artificial intelligence giant OpenAI is mulling a private funding round that could value the ChatGPT maker at $1.2 trillion; Blackstone is looking to raise $8 billion for its latest Green Infrastructure Credit Fund; and Japanese chipmaker Kioxia Holdings is looking to raise $10 billion by listing American depositary receipts.

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How Boards, Lenders Can View ABC Bankruptcy Alternative

The broader adoption of the Uniform Assignment for the Benefit of Creditors Act, including Delaware's recent statute, gives boards and lenders a clearer framework for a familiar middle-market problem: companies too small to justify Chapter 11 economics but too complex for an unmanaged shutdown, says Jon Labovitz at Sherwood.

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Senate Confirms Kirkland Partner To Texas Federal Bench

By Courtney Bublé

The Senate voted 49-45 on Thursday to confirm Kasdin Miller Mitchell, a partner at Kirkland & Ellis LLP, to serve as a U.S. district judge for the Northern District of Texas.

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Analysis

Sue To Stop AI Armageddon? Not So Fast, Attys Say

By Y. Peter Kang

As executives at leading artificial intelligence companies increasingly assert that their own technology could one day pose an existential threat to humanity, a natural question follows: If the risk is real, can anyone sue to stop it before disaster strikes?

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Clancy Atty Denies Malpractice Claim By Man Serving Life

By Julie Manganis

A prominent Massachusetts criminal defense attorney best known for representing Lindsay Clancy has been accused in a separate case of "abandoning" a client who is serving life sentences for second-degree murder and home invasion, allegations the lawyer denies.

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AI Flubs, More Secure PACER Get Judiciary Forum Spotlight

By Jeff Overley

Misuse of artificial intelligence tools and a "state-of-the-art" revamp of electronic dockets in federal cases were among the hottest topics Thursday at a major meeting of judiciary leaders, who also heard a lawmaker warn of eroding trust in the U.S. Department of Justice.

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Analysis

For Single-Party FTC, Easier Suits May Come With A Cost

By Bryan Koenig

The Federal Trade Commission has ditched its historical multimember, multiparty ethos for a one-party regime in which fewer dissents might make it easier for Chairman Andrew Ferguson to pursue his agenda, but it also forecloses the potential "moderating influence" that comes with winning broad buy-in from commissioners of two parties.

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Immigration Attorney Wants SEC Sanctioned In EB-5 Case

By Tom Lotshaw

An immigration attorney and her firm asked a New York federal judge to sanction the U.S. Securities and Exchange Commission for failing to reasonably investigate an allegedly bogus unregistered securities claim it brought against them in an EB-5 immigrant investor case.

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Weaponization Fund Plaintiffs Say Discovery Ruling Was Right

By Jared Foretek

Plaintiffs suing over the Trump administration's once-proposed "anti-weaponization fund" are telling a Virginia federal judge to reject the U.S. Department of Justice's objections to a magistrate judge's discovery order, accusing the administration of stonewalling their requests and urging prompt discovery production.

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