Private Equity

  • January 27, 2022

    Judge Says $6.1B Energy Deal Fight Can Proceed, This Time

    A Delaware federal magistrate judge on Thursday recommended that revamped federal claims alleging shareholders were led astray about the $6.1 billion sale of renewable power company Pattern Energy should proceed, saying the investors adequately backed up their claims this time around.

  • January 27, 2022

    The Term: Breyer's Legacy And The Nomination To Come

    Justice Stephen Breyer on Thursday formally announced he would be retiring at the end of the Supreme Court term. Here, The Term breaks down the legacy he will leave behind and takes a look at what lies ahead for his potential successor with two special guests.

  • January 27, 2022

    SEC Calls Out Private Fund Advisers' Fee, Disclosure Lapses

    The U.S. Securities and Exchange Commission on Thursday highlighted a list of failures it says were committed by private fund advisers over a five-year examination period, including botched fee calculations, overcharges and a host of disclosure lapses.

  • January 27, 2022

    SEC Taps Ex-Cravath Partner To Be Corp Fin Deputy Director

    The U.S. Securities and Exchange Commission announced Thursday that a former Cravath Swaine & Moore LLP partner has been named the agency's new deputy director of its disclosure program in the Division of Corporation Finance.

  • January 27, 2022

    Breyer Retiring As Supreme Court Lurches Right

    Justice Stephen Breyer is retiring from the U.S. Supreme Court at a time when his conservative colleagues on the bench seem intent on dismantling landmark precedents on abortion, affirmative action and the administrative state, to name a few. Can his successor preserve his liberal legacy?

  • January 27, 2022

    Fireblocks Says $550M Fundraise Yielded Record Valuation

    Fireblocks said Thursday it raised a whopping $550 million in a Series E funding round valuing the company at $8 billion, which it touted as the highest valuation for a digital-asset infrastructure business.

  • January 27, 2022

    4 Firms Rep As Satellite Biz D-Orbit Goes Public In $1.3B Deal

    Italian satellite launch business D-Orbit SpA said Thursday it's going public by merging with blank-check company Breeze Holdings Acquisition Corp. in a deal with an enterprise value of $1.28 billion and that was led by four law firms, including K&L Gates LLP and Woolery & Co. PLLC.

  • January 27, 2022

    Judge Jackson Back In Spotlight As High Court Contender

    The upcoming vacancy on the U.S. Supreme Court quickly threw the spotlight back on D.C. Circuit Judge Ketanji Brown Jackson, a former clerk for Justice Stephen Breyer whose stature as a likely successor to the retiring justice was suddenly raised Wednesday.

  • January 27, 2022

    Deals Rumor Mill: Nvidia, Unilever, Kim Kardashian's Skims

    Nvidia will ditch its $40 billion purchase of U.K. semiconductor company Arm, activist billionaire Nelson Peltz has amassed a stake in European consumer goods giant Unilever, and Kim Kardashian's Skims brand has achieved a $3.2 billion valuation. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.

  • January 27, 2022

    Davis Polk-Led Credo Raises $200M In Downsized IPO

    Credo Technology Group Holding Ltd., a global semiconductor firm, began trading Thursday after raising $200 million in a downsized initial public offering priced at the bottom of its range, with guidance by Davis Polk & Wardwell and underwriters counsel Sullivan & Cromwell.

  • January 27, 2022

    Dubai Hits Founder Of Failed PE Firm Abraaj With $136M Fine

    The Dubai Financial Services Authority on Thursday levied a fine of nearly $136 million on the founder of collapsed United Arab Emirates-based private equity firm Abraaj Group over "serious failings," with allegations including the misuse of funds and the deception of investors and regulatory authorities.

  • January 27, 2022

    Biden At His Side, Justice Breyer Announces Retirement

    Supreme Court Justice Stephen Breyer joined President Joe Biden at the White House Thursday to formally announce his retirement, kicking off a rush among Democrats to confirm a new member of the court to replace the oldest serving justice.

  • January 26, 2022

    Democrats Plan Swift Confirmation Of Breyer Successor

    The U.S. Senate's Democratic leaders pledged Wednesday to move swiftly to confirm a successor for U.S. Supreme Court Justice Stephen Breyer, who is expected to formally announce his retirement Thursday.

  • January 26, 2022

    Crypto Exchange FTX US Hits $8B Valuation In Series A

    FTX US, the U.S. affiliate of global cryptocurrency exchange FTX.com, said Wednesday it had raked in $400 million in a whopping Series A round that valued the young company at $8 billion.

  • January 26, 2022

    SEC Seeks To Beef Up Regs On Treasury Trading Platforms

    The U.S. Securities and Exchange Commission on Wednesday proposed rules to increase oversight of unregistered venues that match buyers and sellers of Treasurys and other government securities, saying the status quo lacks investor safeguards.

  • January 26, 2022

    Meet The Possible Nominees For Justice Breyer's Seat

    President Joe Biden has promised to nominate the first-ever Black woman to the nation's highest court. Here we look at the contenders for Justice Stephen Breyer's seat, including one notable front-runner.

  • January 26, 2022

    'Just Do Your Job': Justice Breyer's Legacy Of Pragmatism

    With the coming retirement of Justice Stephen Breyer, the U.S. Supreme Court loses not only a core member of its liberal bloc, but also a judicial thinker who cares deeply about making the law work on a practical level, those who worked with him said.

  • January 26, 2022

    Brown Rudnick Snags Corporate Partner In Boston

    Brown Rudnick LLP announced that it has hired an experienced corporate attorney with a focus on startup companies as a partner in Boston, the ninth attorney to join the firm from McCarter & English LLP this month.

  • January 26, 2022

    SEC Seeks More Disclosure From Private Funds

    A divided U.S. Securities and Exchange Commission agreed Wednesday to propose stricter disclosure requirements for hedge funds and other private funds, backed by a majority saying the measure is needed to improve market stability and transparency.

  • January 26, 2022

    5 Breyer Opinions You Need To Know

    Justice Stephen Breyer, who was confirmed Wednesday to be stepping down from the court after 27 years, was a pragmatist who thought about the real-world implications of the high court’s decisions. Here, Law360 looks at some of the cases that epitomize his career.

  • January 26, 2022

    Justice Breyer To Retire From High Court

    Justice Stephen Breyer, one of the longest-serving liberal members of the U.S. Supreme Court, will resign his post after more than 27 years on the bench.

  • January 26, 2022

    Kirkland-Led GTCR Clinches $2B Strategic Growth Fund

    Private equity firm GTCR LLC, guided by Kirkland & Ellis, said Wednesday it has closed its first strategic growth fund at $2 billion and intends to invest in smaller deals than its recent flagship fund.

  • January 26, 2022

    Digital Medicine Co. Akili Valued At $1B Via SPAC Merger

    Akili Interactive, a prescription digital medicine company that uses video games to treat issues including depression and attention deficit hyperactivity disorder, will go public at a $1 billion valuation by merging with a special-purpose acquisition vehicle, the companies said Wednesday, in an agreement shaped by three law firms.

  • January 26, 2022

    PE Firms Say New $2.1B Aareal Bid Is 'Best And Final' Offer

    Advent International and Centerbridge Partners said Wednesday that their increased takeover bid for Aareal Bank, worth roughly €1.86 billion ($2.1 billion), is as high as they will go, but at least one significant shareholder in the German lender is not happy with the terms.

  • January 25, 2022

    QAD Stockholders Seek Del. Stock Appraisal After $2B Sale

    An arbitrage-focused investment fund holding stock in manufacturing software company QAD Inc. has sued in Delaware Chancery Court for an appraisal of its shares following QAD's recent, $2 billion go-private sale to a private equity firm, Thoma Bravo.

Expert Analysis

  • 3 Keys To Success For Health Care Private Equity Buyers

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    As large private equity funds increasingly look to expand in the health care sector, displacing some middle market buyers, it is important for buyers to prioritize preparation, speed and conviction when pursuing deals, says Kristian Werling at McDermott.

  • How AI Can Transform Crisis Management In Litigation

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    Attorneys should understand how to use rapidly advancing artificial intelligence technology to help clients prepare for potential catastrophic events and the inevitable litigation arising from them, from predicting crises before they occur to testing legal theories once they arise, say Stratton Horres at Wilson Elser and David Steiger.

  • Supervisor Relationships Are Key To Beating Atty Burnout

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    In order to combat record attorney turnover and high levels of burnout, law firm partners and leaders must build engaging relationships with supervisees, fostering autonomy and control, enabling expression of values, and building a sense of community and belonging, says Anne Brafford at the Institute for Well-Being in Law.

  • The Rising Demand For Commercial Litigators In 2022

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    Amid broken supply chains, pandemic-induced bankruptcies and a rise in regulation by litigation, strong commercial litigators — strategists who are adept in trying a range of tortious and contractual disputes — are becoming a must-have for many law firms, making this year an opportune moment to make the career switch, say Michael Ascher and Kimberly Donlon at Major Lindsey.

  • Evaluating Director Protections After Del. Bankruptcy Ruling

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    The Delaware Bankruptcy Court's recent decision in Friedman v. Wellspring Capital, outlining the conditions under which an alleged duty of loyalty breach can survive a motion to dismiss, may undermine corporate decision makers' ability to negotiate for what are customary and necessary protections as they manage distressed entity transactions, say attorneys at Ropes & Gray.

  • M&A Ruling Illustrates Limits Of Disclaiming Fraud In Del.

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    The Delaware Chancery Court's recent ruling in Fortis Advisors v. Johnson & Johnson shows that parties negotiating M&A transactions should be mindful that extracontractual fraud claims may only be eliminated through explicit anti-reliance provisions, say attorneys at Troutman Pepper.

  • How In-House Counsel Can Make The Case For Settling Early

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    Following the recent settlement in McDonald's v. Easterbrook, in-house counsel should consider decision-tree analyses and values-driven communications plans to secure effective, early resolutions in litigation, saving time and money and moving the company mission forward, say Ronald Levine at Herrick Feinstein and Richard Torrenzano at The Torrenzano Group.

  • To Retain Talent, GCs Should Prioritize Mission Statements

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    With greater legal demands and an increasing number of workers resigning during the pandemic, general counsel should take steps to articulate their teams' values in departmental mission statements, which will help them better prioritize corporate values and attract and retain talent, says Catherine Kemnitz at Axiom.

  • Anticipate Another Busy Year Of M&A Activity

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    M&A action is likely to continue at a hectic pace this year, with 24/7 remote work practices, regulatory covenant litigation, and acquisitions of supply chain actors all showing no signs of slowing down, says Ethan Klingsberg at Freshfields.

  • Green Light On SPAC Deal Suit Puts Fiduciary Duty In Context

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    By allowing a class suit over the MultiPlan special-purpose acquisition company merger to proceed, the Delaware Chancery Court demonstrates the importance of robust disclosures to avoid triggering fiduciary duty claims against a SPAC's sponsor and its directors, say attorneys at Skadden.

  • Recent Bias Suits Against Law Firms And Lessons For 2022

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    2021 employment discrimination case filings and developments show that law firms big and small are not immune from claims, and should serve as a reminder that the start of a new year is a good time to review and update salary, promotion and leave policies to mitigate litigation risks, says Hope Comisky at Griesing Law.

  • Associate Hiring Outlook At Law Firms Is Bright For 2022

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    After a year of extraordinary signing bonuses, nearly instantaneous offers and flexible work arrangements, strong demand for talented law firm associates will continue into 2022 — with some differences between East and West Coast markets — and junior attorneys should take steps to capitalize on the opportunity, say Ru Bhatt and Summer Eberhard at Major Lindsey.

  • Private Funds Should Prepare For More SEC Oversight In 2022

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    The U.S. Securities and Exchange Commission’s recent remarks signal a desire to enhance transparency obligations for private funds, so as the new year begins, advisers should evaluate their compliance regimes with respect to fees and expenses, valuation policies and fiduciary duty waivers, say Jaclyn Grodin at Goulston & Storrs and Joel Cohen at Stout.

  • Roundup

    The Most-Read Legal Industry Guest Articles Of 2021

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    Popular legal industry guest articles this year included commentary on the admissibility of video depositions, an unusual U.S. Supreme Court citation, the perils of lawyer perfectionism, and more.

  • Expect More Auditor Enforcement Actions From SEC In 2022

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    The U.S. Securities and Exchange Commission brought few charges and settlements against auditors for violations of professional auditing or accounting standards this year, but shifting priorities under the Biden administration could spur increased enforcement in 2022, say Chuck Smith and Andrew Fuchs at Skadden.

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