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We're pleased to announce Law360's Rising Stars for 2021, our list of 180 attorneys under 40 whose legal accomplishments transcend their age.
A Delaware bankruptcy judge on Friday approved Eagle Hospitality's $481.9 million Chapter 11 sale of 14 of its hotels, rejecting calls by a failed bidder for more time to solidify a new last-minute offer.
In Law360's occasional roundup of Chicago lawyers' latest moves, Lewis Brisbois Bisgaard & Smith LLP has hired a data privacy and security partner, and Greenberg Traurig LLP pulled a new real estate shareholder from Katten Muchin Rosenman LLP.
Blockchain-based payments company Circle said Friday it raised $440 million from investors, an amount it said placed the financing "among the top 10 in private fintech investments."
A Massachusetts federal judge said Friday securities fraud claims against a venture capital firm that was "running the show" at a fertility treatment company could go forward, rejecting arguments that the claims were late-raised by lead plaintiffs in the investor class action.
Online real estate marketing services provider Domain Holdings Australia is considering buying a 10% stake in the holding company of real estate platform Property Exchange Australia, or PEXA, a day after KKR reportedly launched a bid to pay more than A$3 billion ($2.31 billion) for the company.
With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Sullivan & Cromwell and Freshfields. Here, Law360 recaps the ones you may have missed.
Biotechnology holding company Centessa Pharmaceuticals PLC, advised by Goodwin Procter LLP and underwriters counsel Cooley LLP, rallied in debut trading Friday after raising $330 million in an upsized initial public offering, capping a strong week for new issuances.
Black Knight Inc. said Friday it's buying mortgage industry marketing automation company Top of Mind Networks from Primus Capital and other investors in a $250 million deal guided by Florida law firm Smith Hulsey & Busey and Goodwin Procter LLP.
As policymakers consider reining in special purpose acquisition companies that have taken capital markets by storm over the past year, one academic study gaining attention argues that SPACs are costly vehicles that perform poorly for many investors.
A Massachusetts state judge on Thursday denied Robinhood's bid to prevent Massachusetts securities regulators from moving forward with an administrative proceeding aimed at barring the trading platform from operating in the state.
Illumina and Grail have accused the Federal Trade Commission of plotting to resurrect its federal lawsuit challenging their proposed merger too close to a tie-up deadline for the companies to mount a proper defense, urging a California federal judge not to let the FTC drop the suit "without prejudice."
Top executives of electronic payment vendor SwervePay, who were allegedly beguiled into a merger last year by claims it would open up $34 billion worth of serviceable transactions, have sued private equity firm New Mountain Capital and others in Chancery Court, saying the deal delivered only $6 billion in prospects.
Private equity firm Siris Capital Group LLC said Thursday it's agreed to take private financial services provider Equiniti Group PLC in a £673 million (about $955 million) deal guided by Wachtell, Macfarlanes and Linklaters.
A private equity and insurance executive who admitted to paying a bribe to boost his daughter's college entrance exam scores "tore the fabric of society" with his fraud, a Massachusetts federal judge said in issuing a two-month prison sentence and the maximum fine allowed by law for the crime.
Health apparel maker Figs Inc. went public Thursday after raising $580 million in an upsized initial public offering, steered by Latham & Watkins LLP and underwriters counsel Cooley LLP, the largest of three IPOs that netted $964 million combined.
A minority owner of the Minnesota Timberwolves and Lynx basketball teams asked a federal judge on Wednesday to block the teams' $1.5 billion sale to Alex Rodriguez and entrepreneur Marc Lore, arguing that the deal runs afoul of tag-along provisions in its own contract that let it sell its $300 million stake in the franchise if control changes hands.
Volkswagen isn't interested in accepting a €7.5 billion bid for Lamborghini, Indian e-commerce payment system Paytm is eyeing a $30 billion valuation in its planned IPO, and private equity-backed Eurowag will list in London. Here, Law360 breaks down these and other deal rumors from the past week that you need to be aware of.
Austin, Texas-based home financing business Homeward said Thursday it closed on $371 million in its Series B financing from investors such as Norwest Venture Partners, Blackstone Alternative Asset Management and Adams Street Partners.
California-based fintech startup Acorns Grow will go public at a valuation of roughly $2.2 billion by combining with a special purpose acquisition vehicle, the companies said Thursday, in a deal built by Kirkland & Ellis, Paul Hastings and Latham & Watkins.
Two customer service rivals squared off Wednesday before a California federal jury on the opening day of a trade secrets trial over live chat software, with LivePerson saying [24]7.ai strategically stole its technology and customers, while [24]7.ai painted the dispute as an unhappy competitor's bullying campaign.
A U.S. Bankruptcy Court judge declared Wednesday he was considering referral of an alleged $2.4 million federal Paycheck Protection Program fraud to the U.S. attorney's office, during a blistering ruling on a preliminary injunction motion aimed at the original sponsors of Eagle Hospitality.
Payment processor Flywire and electronic billing platform Paymentus went public Wednesday after raising a combined $461 million in initial public offerings that priced at the top of their ranges, guided by four law firms total.
Shares of online job marketplace Ziprecruiter Inc. rose in debut trading following its direct listing Wednesday — joining a recent wave of companies to go public through this alternative to an initial public offering — guided by Fenwick & West LLP and financial advisers' counsel Latham & Watkins LLP.
Haynes and Boone LLP has hired a former Greenberg Traurig LLP shareholder and Kirkland & Ellis LLP partner who joins the firm's capital markets and securities, mergers and acquisitions, and private equity practices as part of its West Coast growth strategy.
Despite pandemic-related challenges this year, law firms can effectively train summer associates on writing and communicating — without investing more time than they ordinarily would, says Julie Schrager at Schiff Hardin.
The utility of legal technology innovations may be limited without clear data and objectives from the outset, but targeted surveys can provide specific insights that enable law firms to adopt the most appropriate and efficient tech solutions, says Tim Scott at Frogslayer.
Amid high demand for associates and aggressive competition to attract talent, law firms should take three key steps to conduct meaningful prehire due diligence and safeguard against lateral hiring mistakes that can hurt their revenue and reputation, says Michael Ellenhorn at Decipher.
The First Circuit’s recent holding in U.S. Securities and Exchange Commission v. Morrone cements a new circuit split over when a securities transaction is considered domestic, introducing new wrinkles to the already-vague standards courts have relied on to interpret the U.S. Supreme Court's Morrison test, say Eric Belfi and David Saldamando at Labaton Sucharow.
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The Delaware bankruptcy court’s recent Jevic Holding ruling — that a Chapter 11 debtor-in-possession agreement can bind a subsequent Chapter 7 trustee — provides protection against clawback claims for lenders and guidance on DIP agreement negotiations for creditors’ committees, say attorneys at Kleinberg Kaplan.
The use of representations and warranties insurance in M&A; could result in waiver of the attorney-client privilege, but policyholders can do a number of things to minimize disclosure of transaction-related information when negotiating the insurance policy and after a claim arises, say attorneys at Bass Berry.
The U.S. Department of Health and Human Services recently greenlighted a proposal between health care providers to jointly invest in a new facility, reinforcing that such arrangements do not need to fit precisely within the Anti-Kickback Statute exemption for ambulatory surgery centers, but also calling into question whether the safe harbor should be updated, say Brian Bewley and Kaitlyn Dunn at Manatt.
Alex Oh’s abrupt departure from the U.S. Securities and Exchange Commission and admonishment by a D.C. federal judge over conduct in an Exxon human rights case demonstrate three major costs of incivility to lawyers, and highlight the importance of teaching civility in law school, says David Grenardo at St. Mary's University.
Opinion
The federal rule that permits the use of business records as evidence must be amended to address the unreliability of electronically stored information and inconsistent court frameworks on email admissibility, say Josh Sohn and Nadia Zivkov at Stroock.
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Katherine Forrest's new book, "When Machines Can Be Judge, Jury, and Executioner," raises valid transparency concerns about artificial intelligence tools used by judges when making bail and sentencing decisions, but her argument that such tools should be rejected outright is less than convincing, says U.S. District Judge Xavier Rodriguez of the Western District of Texas.
Arbitration data from states with existing surprise medical billing laws that track the federal independent dispute resolution process under the newly passed No Surprises Act provide helpful insights into the likely impact of the federal law taking effect in 2022, say Alexandra Lucas and Christian Martin at Reed Smith.
A flexible work environment will be key to recruiting and retention efforts post-pandemic, so law firms must develop comprehensive policies that solidify expectations and boundaries on accommodations such as flextime, remote work and reduced hours, says Manar Morales at the Diversity & Flexibility Alliance.
Expansive notification and approval requirements under the U.K.’s new merger control regime — the National Security and Investment Act — along with a lack of clarity about when they go into effect, pose unique challenges for private equity sponsors, as well as their investors and portfolio companies, say attorneys at Kirkland.
The current lull in special purpose acquisition company activity following the U.S. Securities and Exchange Commission's recent risk advisories offers SPAC parties an opportunity to ramp up due diligence on targets and to evaluate prior accounting of warrants to ensure regulatory compliance, say Julie Copeland and Ellen Graper at StoneTurn.
Two recent Delaware Chancery Court decisions concerning attempts to cancel acquisitions amid COVID-19 show the importance of deal language in the pandemic era, particularly where material adverse effect and ordinary course covenants are concerned, say attorneys at Fried Frank.
