Simpson Thacher Caused 'Chaos' With Deal, Jury Hears

By Cara Salvatore

The former chief financial officer of Patriot National Inc. testified to a Florida jury on Tuesday that "chaos" broke loose as funds that Simpson Thacher helped steward for the insurance services company hit public markets and executives found out that its terms differed from their understanding of them.

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Saba Drops Suit Over BlackRock ESG Fund's Voting Bylaws

By Sydney Price

Hedge fund Saba Capital Management has ended its suit claiming BlackRock Inc.'s environmental, social and corporate governance trust maintains illegal shareholder voting bylaws, a decision that comes about a month after the U.S. Supreme Court ruled against Saba in a related suit.

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Clipway Clinches $6.4B Debut Secondaries Fund

By Jade Martinez-Pogue

Secondaries firm Clipway on Tuesday announced that it closed its debut secondaries fund after securing $6.4 billion of investor commitments.

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Weil-Led Outsourcer OCS Agrees To Take Over Mitie For £3.1B

By Tom Fish

Outsourcing giant OCS said Tuesday it has agreed to acquire U.K. rival Mitie Group PLC in an all-cash deal valuing the company's equity at £3.1 billion ($4.1 billion).

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Davis Polk-Led TruArc Wraps 5th Fund With $1.2B In Tow

By Jade Martinez-Pogue

Private equity shop TruArc Partners, advised by Davis Polk & Wardwell LLP, on Tuesday revealed that it closed its fifth fund above target with $1.2 billion in committed capital.

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Permira-Backed Fashion Shop Reformation Eyes $225M IPO

By Jade Martinez-Pogue

Private equity-backed womenswear brand Reformation has unveiled terms for its planned initial public offering, expecting to raise around $225 million in an IPO steered by Skadden Arps Slate Meagher & Flom LLP and Latham & Watkins LLP.

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Navigating OFAC's 50% Rule For Cross-Border Exec Mobility

A recent Office of Foreign Assets Control guide signals that its 50% ownership rule can determine not only sanctions compliance but also whether a company can sponsor multinational executives for immigration, highlighting an often overlooked interaction between sanctions and immigration law, says Xuan Zhang at Reid & Wise.

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How Competitive Is Your Pay? Last Call To Take Our Survey

Is your compensation keeping pace with the rate of inflation? Do you know what your colleagues made last year? Help Law360 Pulse answer these questions and more in this year's Law Firm Compensation Survey.

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Dems Press Skadden On Trump Pro Bono Pact, Intel Deal Work

By Lauren Berg

A group of Democrats demanded Tuesday that Skadden Arps Slate Meagher & Flom LLP disclose details of its pro bono arrangement with the Trump administration in light of allegations the firm advised both Intel Corp. and the U.S. Department of Commerce when the administration received a 10% company stake.

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Blanche Denies Conflict With Family's Firearms Company

By Courtney Bublé

Acting Attorney General Todd Blanche has close ties through his wife's family to a gun manufacturer that does federal contracting, but he told senators in questions following his confirmation hearing there is no conflict of interest, despite his service on a Justice Department task force aimed at rolling back gun control initiatives around the country.

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Trump, DOJ Sued For Firing Court-Appointed Seattle US Atty

By Bonnie Eslinger

Roger Rogoff, a former Washington state judge who was sworn in as Seattle's new U.S. attorney last week and then swiftly fired by the Trump administration, filed a federal lawsuit Tuesday against President Donald Trump and the U.S. Department of Justice, saying their "attempt to fire him cannot stand."

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Reagan-Appointed NC Federal Judge To Take Senior Status

By Courtney Bublé

U.S. District Judge Terrence William Boyle of the Eastern District of North Carolina plans to take senior status — a form of semi-retirement that gives federal judges a reduced caseload — at a date yet to be determined, according to a recent update from the federal judiciary.

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Senate Confirms Trade Court Pick Despite Past GOP Posts

By Courtney Bublé

The U.S. Senate voted 50-48 Tuesday evening to confirm Kara Westercamp, associate counsel to the president, to the U.S. Court of International Trade, who said during her confirmation in March she regretted her past social media posts critical of Republicans, including Sens. Mitch McConnell, R-Ky., Susan Collins, R-Maine, and the late Lindsey Graham, R-S.C.

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Bronx Public Defenders Set Strike Deadline

By Emily Sawicki

More than 300 unionized workers at legal aid organization The Bronx Defenders are set to walk out on July 27 if they cannot agree on a contract with the legal nonprofit's management, according to a Tuesday announcement.

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