Private Equity

  • February 28, 2020

    Battery Co. Facing Possible Sanctions In $100M IP Fight

    An Illinois federal judge recommended Friday that stored energy solutions company LiiON LLC face sanctions for discovery violations and other missteps in a $100 million trade secrets case against its former business partner Vertiv Group Corp.

  • February 28, 2020

    Miss. Bank Looks To Nix $250M Suit Over Forced PE Sale

    Mississippi bank Hancock Whitney urged a Florida federal judge Friday to toss a dental services company’s $250 million suit alleging the bank forced it to sell off a subsidiary, arguing that most of the claims have already been released by the dental company.

  • February 28, 2020

    Don't Miss It: Ropes & Gray, Sidley Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in recent days helmed by firms such as Ropes & Gray and Sidley. Here, Law360 recaps the ones you may have missed.

  • February 28, 2020

    Hunt Real Estate Loans $38M For NC Apartment Complex

    Hunt Real Estate Capital has provided $38.2 million in financing to Ebsco Income Properties for a new apartment complex in Winston-Salem, North Carolina, according to an announcement from the lender on Friday.

  • February 28, 2020

    Fenwick Guides Passage Bio In Upsized, $216M Debut

    Passage Bio started trading Friday after raising $216 million in an upsized initial public offering steered by Fenwick & West LLP that saw the genetic medicine company price at the top of its expected range.

  • February 28, 2020

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen the liquidators of the defunct construction giant Carillion seek disclosure from the company's former KPMG auditors, Pinsent Masons LLP sue a prominent Emirati businessman, and the liquidators of a financing company sue its former chief executives. Here, Law360 looks at those and other new claims in the U.K.

  • February 28, 2020

    Brookfield's Cincinnati Bell Deal Worth $2.75B In Revised Bid

    Brookfield Infrastructure has increased the terms of its deal for telecom company Cincinnati Bell to roughly $2.75 billion in the wake of a shareholder lawsuit and pressure related to a competing proposal, the companies said Friday.

  • February 27, 2020

    Chancery Rejects $122M Damages Bid Over Plimus Deal

    A Delaware Chancery judge on Thursday rejected most of a private equity investor's roughly $122 million bid for equity-based damages in connection with its acquisition of the former Plimus payment processing business, instead awarding minimal damages related to a limited fraud claim and fines.

  • February 27, 2020

    Cromwell Sells Half Of Australia Mixed-Use Property For $79M

    Cromwell Property Group has sold a 50% stake in a pair of mixed-use buildings outside Sydney for AU$120 million ($79 million) and has also entered into a joint venture agreement with BlackRock for construction and upgrades at the site, the Australia-based real estate firm announced on Thursday.

  • February 27, 2020

    Tuna Buyers Want PE Firm's Price-Fix Suit Escape Rethought

    A group of canned tuna buyers have asked a California federal judge to reconsider dismissing Bumble Bee's private equity owners from a sprawling price-fixing litigation, saying evidence shows the buyers can overcome the legal hurdles that led to the tossing of the claims.

  • February 27, 2020

    DoorDash Confidentially Files Plans For Public Debut

    Food delivery company DoorDash said Thursday it confidentially filed for an initial public offering, teeing up a potentially high-profile debut later this year.

  • February 27, 2020

    Deals Rumor Mill: Big Hit Entertainment, Dyal Capital, Shell

    A major South Korean music label is planning a $5 billion IPO, Dyal Capital is raising $9 billion for its latest fund, and Shell is seeking to sell $1 billion of Egyptian oil and gas assets. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • February 27, 2020

    Simpson Thacher-Led ZoomInfo Files $500M IPO

    Private equity-backed sales and marketing technology company ZoomInfo Technologies Inc. on Thursday filed a $500 million initial public offering with regulators amid a quiet IPO market, guided by Simpson Thacher & Bartlett LLP and underwriters’ counsel Latham & Watkins LLP.

  • February 27, 2020

    Thyssenkrupp Inks €17.2B Sale Of Elevator Biz To PE Group

    Thyssenkrupp AG said Thursday that it has agreed to sell its elevator technology business to a group led by Advent International, Cinven and RAG-Stiftung for €17.2 billion ($18.9 billion).

  • February 26, 2020

    Fintech's 2020 M&A Boom Shifts To Consumer-Facing Targets

    Three financial technology companies have been snapped up in billion-dollar deals so far this year with more to come, industry observers say, as buyers and acquisition targets seek to harness novel technologies, searching for increased scale and probing new consumers as the deal trend evolves from payments infrastructure to consumer-facing products.

  • February 26, 2020

    Zest Soap Maker's $120M Sales OK'd Despite Bidder Dispute

    A Delaware bankruptcy judge on Wednesday gave his nod to $120.5 million in Chapter 11 asset sales for the maker of Zest soap and other personal hygiene and beauty products despite strong objection from a jilted backup bidder for some of the assets.

  • February 26, 2020

    Cooley-Led QED Closes 6th Fintech Fund With $350M

    Venture capital firm QED Investors said Wednesday it raised $350 million for its sixth fintech-focused fund with guidance from attorneys at Cooley LLP.

  • February 26, 2020

    SEC Wins Sanctions Against Brokers For Skipping Mediation

    A Florida federal judge on Wednesday sanctioned the two principals of broker-dealer Spartan Securities Group Ltd. for failing to show up to a mediation in the U.S. Securities and Exchange Commission's suit alleging that they schemed to create sham companies and sell "free-trading" stock to the public.

  • February 26, 2020

    Oasis Founder Drops Bid To Revive Kirkland, Littler Suit

    A founder of litigation funder Oasis Financial has withdrawn a bid to revive a lawsuit claiming Kirkland & Ellis LLP and Littler Mendelson PC steered Oasis' private equity sale using fraudulent transaction documents, while improperly keeping its minority co-owners out of the loop until the sale was final.

  • February 26, 2020

    Merger Woes Send Safe Maker Alpha Guardian Into Ch. 11

    Safe maker Alpha Guardian has filed for Chapter 11 in Nevada bankruptcy court, saying the 2017 merger that formed the company has left it running in the red with with $120 million in debt as it fails to keep up with customer demands.

  • February 26, 2020

    Sheppard Mullin Lands Holland & Knight Tax Partner

    Sheppard Mullin Richter & Hampton LLP has brought on a Holland & Knight LLP partner experienced in executive compensation and employee benefits matters to the firm’s tax, employee benefits, and trusts and estates practice in Washington, D.C.

  • February 26, 2020

    Kirkland Reps PE Firm In Closing Of $531M Tech Fund

    Guided by Kirkland & Ellis, a private equity firm that focuses on investing in bootstrapped, business-to-business software companies has closed its fifth fund, raising $531 million and bringing the total amount of money raised for all of its funds to $1.2 billion, it said Wednesday.

  • February 26, 2020

    Willkie Farr Adds PE Fund Formation Atty In New York

    A private equity fund formation attorney who’s worked with groups like Citi Private Bank, Brown Brothers Harriman and Credit Suisse has joined Willkie Farr from Shearman & Sterling in its New York office.

  • February 26, 2020

    Hoberman Steers Tech Co. Unqork In $131M Funding Round

    Technology startup Unqork, represented by Hoberman Law Group, on Wednesday said it has raised additional funds from investors including a Goldman Sachs division to hit $131 million in the final close of its Series B round.

  • February 26, 2020

    Simpson Thacher Steers Corsair To $1B Tech-Focused Fund

    Private equity firm Corsair Capital, working with Simpson Thacher, has wrapped up its fifth fund after securing $1 billion from limited partners, with plans to target investments in technology companies, including in areas like payments and software.

Expert Analysis

  • Rebuttal

    Legal Industry Should Pursue AI Prediction Progress

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    As part of the debate prompted by my recent Law360 guest article on legal prediction using artificial intelligence, I would like to unpack four issues and suggest that attorneys and technologists continue to tackle the problems presently within reach, says Joseph Avery at Claudius Legal Intelligence.

  • What Companies Should Know About Direct Listings

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    Several recent and pending direct listings have shone a spotlight on the benefits and limitations of this alternative to traditional initial public offerings as an exit strategy for late-stage companies, says Louis Lehot of L2 Counsel.

  • Solutions To 4 Common Law Firm Diversity Challenges

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    A workshop recently held by the California Minority Counsel Program provides steps law firms can take toward solving minority attorneys' limited access to social capital and lack of meaningful investment, as well as other obstacles to diversity and inclusion, says Alexandra DeFelice, director of marketing and business development at Payne & Fears.

  • Key Clarifications In IRS Carbon Capture Tax Credit Guidance

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    Recently issued IRS guidance on carbon oxide sequestration tax credits takes an essential step toward providing project developers and investors with a clear regulatory framework, even though further instruction is needed for taxpayers to confidently claim credits in new projects, say attorneys at Steptoe & Johnson.

  • When Coronavirus May Trigger SEC Disclosure Requirements

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    Amid uncertainty over the global impact of coronavirus, companies across a variety of industries should evaluate several factors to determine when specific outcomes compel U.S. Securities and Exchange Commission disclosures, says Adele Hogan at Nelson Mullins.

  • Rebuttal

    Discrimination Cases Are Too Complex For AI Fee Prediction

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    A recent Law360 guest article criticizing the New Jersey Supreme Court’s ruling in Balducci v. Cige overlooks the intricate nature of discrimination cases, which renders artificial intelligence an insufficient tool for predicting time and cost, says Paul Aloe at Kudman Trachten.

  • Courts May Clash With Litigants Over Document Review Tech

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    As courts increasingly accept technology-assisted document review, some are bordering on forcing parties to employ TAR, in which case attorneys may need to step in if their clients prefer other processes, say Donna Fisher and Matthew Hamilton at Pepper Hamilton.

  • Rebuttal

    AI Can't Accurately Predict Case Length And Cost — Yet

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    A recent Law360 guest article argued that artificial intelligence can precisely estimate the length and cost of a new case, but several limitations will likely delay truly accurate predictions for years to come, says Andrew Russell at Shaw Keller.

  • Opinion

    PE Investors Should Reject Life Tenure For General Partners

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    Institutional investors in private equity and venture capital funds should push back against limited partnership agreements that make it impossible to remove a general partner for any reason, say Kenneth Witt and Marc Lieberman at Kutak Rock.

  • The Advantages Of PE Sponsor-Strategic Partnerships

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    Several recent mergers and acquisitions concentrated in the health care sector illustrate a growing trend of private equity sponsors teaming up with strategic buyers in innovative ways that provide value for both sides, say attorneys at Debevoise.

  • A Good Year Ahead For Energy Infrastructure M&A

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    Recent policy developments and investment trends in China, Europe and the United States offer a number of compelling reasons to expect that energy infrastructure M&A deals will be strong in 2020, say attorneys at Hogan Lovells.

  • What Health Care FCA Trends Tell Us About The Year Ahead

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    The U.S. Department of Justice showed more initiative in directly bringing health care-related False Claims Act cases despite a decrease in qui tam filings last year, and as scrutiny of the industry continues to rise, several sectors deserve to be watched carefully this year, say attorneys at Epstein Becker.

  • Lawyers Can Build Trust Through The Spoken Word

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    As attorneys, we may prefer the precision of written communication, but a phone call or an in-person conversation builds trust by letting others see and hear our authentic selves, rather than something constructed or scripted, says mediator Sidney Kanazawa of ARC.

  • Opinion

    Legal Prediction Is Demanding But Not Impossible

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    The New Jersey Supreme Court’s recent decision in Balducci v. Cige incorrectly concluded that predicting the length and cost of a case is nearly impossible, and overlooked artificial intelligence's ability to do so, says Joseph Avery with Claudius Legal Intelligence.

  • Effective AML, Anti-Bribery Programs Hinge On Collaboration

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    Amid increasing risk exposure from financial services companies' partners, clients and affiliates, opportunities exist to leverage processes across firms' anti-money laundering and anti-bribery and corruption programs, says Michelle Goodsir at K2 Intelligence.

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