Private Equity

  • December 06, 2023

    Financial-Services Focused SPAC Blue Room Files $200M IPO

    Blue Room Acquisition Corp., a special-purpose acquisition company focused on acquiring a financial services business, filed plans Wednesday for a $200 million initial public offering, represented by Ellenoff Grossman & Schole LLP and underwriters counsel Loeb & Loeb LLP.

  • December 06, 2023

    Kirkland-Led PE Firm Strikes £287M Deal To Buy Bowling Biz

    Ten Entertainment said on Wednesday that it has agreed to be bought for £287 million ($361 million) by a subsidiary of U.S. private equity firm Trive Capital Partners LP as the U.K. bowling operator eyes business growth.

  • December 05, 2023

    Orrick Nabs SVB's Ex-Head Of Startup Banking

    The former head of startup banking at the now-defunct Silicon Valley Bank has joined Orrick Herrington & Sutcliffe LLP as a managing director of technology companies and fund relationships, the law firm announced Tuesday.

  • December 05, 2023

    Mechanics Seek Class Status In Kuwait Forced-Labor Suit

    More than two dozen mechanics who worked for ManTech International Corp. are looking to certify their proposed class action accusing The Carlyle Group-owned military contractor of using them as forced labor to repair armored vehicles in Kuwait.

  • December 05, 2023

    AP3 And Wafra Team Up For New $1.05B Investment Platform

    The Third Swedish National Pension Fund and alternative investment manager Wafra Inc. on Tuesday announced the formation of new investment platform Covalent, which will be launched with $1.05 billion of capital to focus on mid-market buyouts and growth equity investments in North America and Europe.

  • December 05, 2023

    Private Equity Firm Can't Opt Out Of $110M Settlement Late

    A Pennsylvania federal judge denied a private equity firm’s late bid to opt out of a nearly $110 million class action settlement over a life insurance company’s rate hikes, finding that accepting the firm’s bid, submitted six weeks after the opt-out deadline, would “render class action settlement opt-out deadlines meaningless.”

  • December 05, 2023

    Another Khosla-Backed SPAC To Fold As Merger Search Fails

    Special purpose acquisition company Khosla Ventures Acquisition Co. plans to liquidate and return investors their money, becoming the second of three Khosla-backed SPACs to close after failing to complete a merger amid harsh market conditions.

  • December 05, 2023

    App Maker Says Faux Atty Lied In Prisoner-Transport Biz Buy

    A cryptocurrency influencer and owner of a Pittsburgh-based AI app company said his former chief investment officer faked his bona fides as an attorney and pilot when enticing him to buy a Colorado prisoner-transport company, then backed out of the business and sabotaged its prospects, according to a lawsuit filed in Pennsylvania state court.

  • December 05, 2023

    Cooley, Mayer Steer $45M Offer For Troubled Aviation Fuel Biz

    Troubled aviation fuel company Velocys PLC said Tuesday that it has agreed to be acquired and taken private by a consortium of investors in an approximately $45.2 million deal guided by Cooley LLP and Mayer Brown LLP.

  • December 05, 2023

    Recycling Co. Strategic Materials Hits Ch. 11 With $433M Debt

    Glass recycling company Strategic Materials Inc. filed for Chapter 11 protection in a Texas bankruptcy court with about $433 million in debt and a plan to hand lenders its business, after struggling to meet payments on floating-rate debt that's become "significantly more expensive" as interest rates have risen.

  • December 04, 2023

    Kraft Heinz Fraudulently Won Insider Trade Suit, Investor Says

    An investor has hit Kraft-Heinz Co. with a fresh stockholder complaint in Delaware Chancery Court, claiming that the court wrongly tossed a prior action alleging similar $1.2 billion insider-trading claims based on fraudulent statements and incomplete evidence regarding Kraft Heinz's executives' purported financial ties to the majority stockholder accused of insider trading.

  • December 04, 2023

    GenesisCare Lender Objects To DIP Refinancing Move

    One of the exit lenders to GenesisCare — a KKR-backed healthcare company whose Chapter 11 plan was confirmed last month — objected on Monday to the company's emergency motion for post-petition financing, saying the proposed financing "materially alters" the outcome of a group of creditors who voted on the plan.

  • December 04, 2023

    PE Firm Says Colo. Atty Siphoned $14K Settlement Payment

    ASI Capital LLC filed a lawsuit Monday in a Denver district court accusing its former attorney, Armin Sharifi of the Colorado Law Center LLC, of siphoning $14,000 in delinquent payments, which were meant for the Wyoming private equity firm, to support a substance abuse problem.

  • December 04, 2023

    'Varsity Blues' Dad Could Spark More Refund Bids, Feds Warn

    Federal prosecutors argued Monday that a court-ordered refund of $1 million to a parent who largely beat so-called Varsity Blues charges would have a widespread effect and encourage "scores" of other after-the-fact cases with defendants who want forfeited money returned.

  • December 04, 2023

    Kristen Bell's Baby Co. Eyes $65M Early-Bidder Ch. 11 Sale

    Hello Bello, a baby product brand started by actress Kristen Bell, has informed a Delaware bankruptcy judge it intends to accept a nearly $65 million stalking horse bid for its assets from private equity fund Hildred Capital Management, after canceling its Chapter 11 auction for lack of other bidders.

  • December 04, 2023

    Activist Wants EGain Sale, Slams CEO's 'Arrogant' Leadership

    Activist investor Kanen Wealth Management LLC on Monday called for the formation of a special committee to evaluate a sale of cloud-based software company eGain, largely blaming the company's underperformance on its CEO's "arrogant, ineffective and unsuccessful" behavior.

  • December 04, 2023

    SEC Tells 5th Circ. Buyback Rules Not Fixed Before Deadline

    The U.S. Securities and Exchange Commission has told the Fifth Circuit that it was unable to correct "defects" regarding recently approved share-repurchase rules within the court's 30-day deadline, jeopardizing chances that new disclosure requirements involving corporate buybacks will take effect anytime soon.

  • December 04, 2023

    US Energy Developer Completes $1.2B Capital Raise

    Independent clean energy developer energyRe LLC, advised by Gibson Dunn & Crutcher LLP, announced Monday that it secured $1.2 billion from investors to support the expansion of its large-scale renewable energy portfolio, while simultaneously announcing that it has agreed to sell a minority stake in its subsidiary energyRe Giga to Linklaters LLP-advised Elia Group.

  • December 04, 2023

    Wachtell Steers $1 Billion Infusion Into NJ Consultancy

    Connecticut-based Jacobs Private Equity II LLC has joined forces with Sequoia Heritage and other investors to pour $1 billion into New Jersey firm SilverSun Technologies Inc., an investment led by Wachtell Lipton Rosen & Katz and Lucosky Brookman LLP.

  • December 04, 2023

    Catching Up With Delaware's Chancery Court

    Blockchain gaming, lithium-battery production, nutrition supplements and Activision's $68.7 billion sale to Microsoft — nothing is too big or complicated for Delaware's Chancery Court to put on its agenda. The year is winding down, but things haven't slowed in the nation's top court of equity. Check here for all the latest news from the Chancery Court.

  • December 01, 2023

    Justices Call O'Connor 'American Hero,' 'Perfect Trailblazer'

    Following news of retired U.S. Supreme Court Justice Sandra Day O'Connor's death at the age of 93, current and former high court justices paid public homage to her trailblazing career, devotion to the rule of law and illuminating charisma.

  • December 01, 2023

    Former Clerks Say Justice O'Connor Still Worth Emulating

    BigLaw attorneys mentored by former U.S. Supreme Court Justice Sandra Day O'Connor, who died Friday after a lengthy battle with dementia, say she'll be remembered as an incisive jurist who always put facts and practical considerations above abstract ideological commitments, as well as a deeply gracious and down-to-earth woman who never let her dedication to the law overshadow her zest for life.

  • December 01, 2023

    Therapy Co. SPAC Investors Fight Del. Stock-Drop Suit Toss

    An attorney for a blank-check company that took ATI Physical Therapy Inc. public in a deal valued at $2.5 billion in 2021 told a Delaware chancellor Friday that a shareholder lawsuit seeking damages for the venture's immediate nose-dive in stock price failed to acknowledge the deal architects' shared stake.

  • December 01, 2023

    4 Decisions For Which Justice O'Connor Will Be Remembered

    Many of the hotly divided cases at the U.S. Supreme Court came down to Justice Sandra Day O’Connor, a central force on the bench whose savviness at striking compromises and taking a pragmatic approach to resolve disputes is on full display in four opinions.

  • December 01, 2023

    Cozen O'Connor's Italy Chair Launches Global M&A Practice

    Cozen O'Connor is formalizing its growth in the cross-border transactions space with the launch of a global mergers and acquisitions practice, the firm announced.

Expert Analysis

  • Opinion

    Legal Profession Gender Parity Requires Equal Parental Leave

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    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • Opinion

    Activist Short-Sellers Are The Dark Knights Of Wall Street

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    While so-called activist short-sellers have been subject to increased scrutiny in recent years, these investors work in the shadows like Batman to expose fraud on Wall Street, often generating leads that may move regulators to take action, say attorneys at Labaton Sucharow.

  • Series

    Writing Thriller Novels Makes Me A Better Lawyer

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    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

  • What Lawyers Must Know About Calif. State Bar's AI Guidance

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    Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.

  • Industry Must Elevate Native American Women Attys' Stories

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    The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.

  • A Breakdown Of The OCC's New Venture Lending Pointers

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    In light of the Office of the Comptroller of the Currency's recent bulletin outlining venture lending risks for banks, Matt Schwartz and Jeffrey Hare at DLA Piper highlight key considerations for both lenders and venture-backed companies seeking or maintaining loans from OCC-regulated national banks and federal thrifts.

  • Crypto, Audit Cases Dominate SEC's Enforcement Focus In '23

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    Attorneys at Covington examine the U.S. Securities and Exchange Commission's fiscal year 2023 enforcement results, which marked the SEC's third consecutive year of increasing enforcement activity since Chair Gary Gensler took over in 2021 — this time driven by a focus on combating cryptocurrency-related scams and enforcing recordkeeping compliance.

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
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    Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.

  • Series

    ESG Around The World: Mexico

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    ESG has yet to become part of the DNA of the Mexican business model, but huge strides are being made in that direction, as more stakeholders demand that companies adopt, at the least, a modicum of sustainability commitments and demonstrate how they will meet them, says Carlos Escoto at Galicia Abogados.

  • The Case For Post-Bar Clerk Training Programs At Law Firms

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    In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.

  • SEC Whistleblower Action Spotlights Risks For Private Cos.

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    The U.S. Securities and Exchange Commission’s recent whistleblower action against Monolith Resources holds important implications for private companies, who could face unprecedented regulatory scrutiny amid the agency's efforts to beef up environmental, social and governance reporting and enforcement, say attorneys at Wiley.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

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    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Cross-Market Implications In FTC's Anesthesia Complaint

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    The Federal Trade Commission's recent complaint against a private equity firm's acquisition of anesthesiology practices highlights the controversial issue of cross-market harm in health care provider mergers, and could provide important insights into how a court may view such theories of harm, say Christopher Lau and Dina Older Aguilar at Cornerstone Research.

  • Why The Debt Maturity Wall Is Still A Figment, For Now

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    While the phenomenon of the debt maturity wall — a growing wall of staggered corporate debt maturities — has been considered a looming problem since the aftermath of the 2008 global financial crisis, it’s unlikely to have significant consequences before 2025 due to factors such as quantitative easing and evolved lending practices, says Michael Eisenband at FTI Consulting.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.

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