SEC Proposes Expanding Private Market Access

By Jessica Corso

The U.S. Securities and Exchange Commission on Wednesday issued proposals targeting funds and fund advisers while promising to grant more Americans access to the private markets, as part of Chairman Paul Atkins' efforts toward what he called "responsible retailization."

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Ropes & Gray-Led Audax Clinches New Fund With $10B

By Jade Martinez-Pogue

Audax Private Debt said Wednesday it has closed its third direct-lending fund with $10 billion in tow.

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Kirkland-Led Data Center Infrastructure Firm Prices $540M IPO

By Jade Martinez-Pogue

Data center power provider Accelevation Holdings hit the public markets Wednesday after raising $540 million in its initial public offering steered by Kirkland & Ellis LLP and Simpson Thacher & Bartlett LLP.

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Ex-Verint Directors Sued Over Allegedly Undervalued Sale

By Sydney Price

A former shareholder of customer service software company Verint Systems Inc. has accused several of the company's former directors of allowing shareholders to approve an undervalued sale of the company to private equity firm Thoma Bravo last year.

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3rd Circ. Probes Payment Recipients In Fund's $100M Tax Row

By Kat Lucero

A Third Circuit panel examined dealer-and-customer relations under accounting rules governing their transactions on Wednesday to determine whether the Internal Revenue Service was right to slap a $100 million tax bill against a Cayman Islands hedge fund for payments tied to U.S. portfolio companies.

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NYC Tenants Claim PE Firm Illegally Overcharged Rent

By Isaac Monterose

A proposed class of New York City rent-stabilized tenants alleged Wednesday that they were illegally overcharged for rent while living in 19 Manhattan and Brooklyn residential properties operated by real estate private equity firm PH Realty Capital LLC.

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Latham-Led Stride Wraps $550M Sophomore Fund

By Jade Martinez-Pogue

Stride Consumer Partners, advised by Latham & Watkins LLP, announced Wednesday that it has closed its second fund with $550 million in tow.

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Armstrong Teasdale Builds Chicago M&A Team With 2 Hires

By Tracey Read

Armstrong Teasdale LLP has expanded its corporate services group's Chicago presence with a new partner from Polsinelli PC and a counsel from McDonald Hopkins LLC, the firm announced Wednesday.

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AI Meeting Recaps Pose New Discovery And Privilege Risks

The New York City Bar Association’s recent ethics opinion, cautioning attorneys not to record nonclient conversations with artificial intelligence tools, reflects an emerging view that AI meeting recaps are now a distinct business record category, meaning counsel should set meeting-level controls and apply framework-level updates, says William Wright at Faegre Drinker.

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The Law360 Pulse Prestige Leaders: A Look At The Top Firms

Today's most prestigious firms attract top talent and marquee clients while posting record profits. Here's a look at the top 10 firms in this year's Law360 Pulse Prestige Leaders, a ranking of the firms that stand out for their prominence, power and distinction.

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DOJ Accuses Judges Of Ethics Violations With Press Remarks

By Jack Karp

Several Minnesota federal judges ran afoul of their ethical obligations when they commented on President Donald Trump's immigration policies in a recent news article, the U.S. Department of Justice said in a judicial misconduct complaint filed Wednesday.

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Federal Bar Discussion Looks At Courts' Role In Regulating AI

By Bonnie Eslinger

A Federal Bar Association discussion Wednesday in California about AI and how it will be regulated in the United States prompted the Northern District's new chief judge to ask whether Congress' "inability to pass laws" will leave it to the courts "to figure out how we're going to do this."

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DOJ Atty Picked For Judgeship Probed On Fulton County Raid

By Courtney Bublé

A top U.S. Department of Justice official tapped for a federal judgeship faced questions from Democratic lawmakers on Wednesday about the department's investigation in Fulton County, Georgia, over Trump's allegations of fraud in the 2020 election.

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Texas AG Says ABA Stifling Law School Competition

By Spencer Brewer

The Texas Attorney General announced an investigation into the American Bar Association relating to alleged anticompetitive conduct in the association's accreditation of law schools, claiming Wednesday that the ABA "weaponized its accreditation authority" to push "unconstitutional racial and gender preference requirements."

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Sen. Blackburn Sues Smith For Seizing Phone Records

By James Boyle

U.S. Sen. Marsha Blackburn alleges in a federal complaint filed Wednesday that Jack Smith illegally subpoenaed her phone records as part of an investigation into alleged efforts to overturn the results of the 2020 presidential election.

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3rd Circ. Calls Westlaw AI Fight 'Ordinary Copyright Case'

By Ivan Moreno

The Third Circuit said the first appellate fight over artificial intelligence training and fair use ultimately came down to an "ordinary copyright case," affirming that Ross Intelligence infringed Thomson Reuters' Westlaw headnotes when it used them to train a competing legal research platform.

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Blank Rome Seeks Time To Exit LIV Golf's Fla. Office

By Ben Zigterman

Blank Rome LLP on Wednesday filed a limited objection to LIV Golf's motion to reject its sublease at an office building in West Palm Beach, Florida, saying it didn't receive any advance notice and would like until the end of October to transition to a new office.

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Roundup

Defamation Litigation Roundup: Candace Owens, Firm DQ

By Theresa Schliep

In this month's review of defamation fights, Law360 highlights a new suit over right-wing media personality Candace Owens and her conspiracy theories about the killing of conservative activist Charlie Kirk, as well as Quinn Emanuel's disqualification from a suit against a former client.

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Tort Report: Uber Owes $40M In Abandoned Rider Death Case

By Y. Peter Kang

A $40 million arbitration award in a case over an Uber incident and looming litigation against the federal government over a highly publicized U.S. Immigration and Customs Enforcement raid on a Hyundai-LG plant in Georgia lead Law360's Tort Report, which compiles recent personal injury and medical malpractice news that may have flown under the radar.

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Roundup

Hub Hires: Mintz, Foley Hoag, Barclay Damon

By Chris Villani

Boston saw several significant moves across its legal landscape as the summer wound down, with Foley Hoag adding an experienced debt finance attorney from Goodwin Procter, a boutique white collar firm snagging a longtime federal prosecutor, and Mintz getting new leadership for the first time in nearly two decades.

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