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Asset Management
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August 12, 2025
3rd Circ. Spurns Perrigo Investor's Bid To Avoid $97M Deal
A major shareholder in Perrigo Co. PLC has been barred from opting out of a $97 million securities class action settlement, after the Third Circuit held in a precedential opinion on Tuesday that the investor must bear the consequences of its counsel's failure to timely request exclusion.
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August 12, 2025
SEC Fines Firm Owner $4M Over AI Pyramid Scheme Claims
The Florida owner of a multilevel marketing company agreed to a $4 million penalty to resolve a U.S. Securities and Exchange Commission suit that accused him of fraudulently raising $108 million for the purported development of artificial intelligence-powered software products, according to a consent order filed Tuesday.
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August 12, 2025
11th Circ. Suggests 'Bad Drafting' Led NCR To Benefit Liability
The Eleventh Circuit signaled Tuesday that it will likely uphold an early win by former executives of a Georgia e-commerce company who said they were short-changed in payouts from a "top hat" benefits plan, telling the company it couldn't escape the "bad drafting" of its contract.
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August 12, 2025
Insurer Obstructed $116M In Funding Claims, Court Told
A company that invested in a personal injury law firm's docket of cases alleges in a lawsuit removed to North Carolina federal court that its insurer "intentionally obstructed" its recovery of more than $116 million in coverage under policies insuring that investment.
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August 12, 2025
No New Foreign Bribery Trial For Ex-Connecticut Oil Trader
A former Connecticut oil trader faces sentencing Nov. 4 after a federal judge declined to overturn a jury's verdict finding him guilty of paying bribes to an official at Brazilian oil giant Petroleo Brasileiro SA and laundering money.
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August 12, 2025
Teamsters Fund Fights Debt Recalculation Order At 7th Circ.
The Seventh Circuit should overturn an Illinois federal judge's order for a Teamsters pension fund to recalculate a concrete company's debt, the fund argued, saying the fund's original finding that the company owed roughly $23 million was correct.
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August 12, 2025
Fed. Circ. Rejects Another Fannie, Freddie Investor Suit
The Federal Circuit on Tuesday threw out a lawsuit accusing the federal government of profiting off Fannie Mae and Freddie Mac to other shareholders' detriment, saying the case was seeking to rehash arguments the court rejected three years ago.
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August 12, 2025
DOL Yanks 2021 Guidance On Private Equity 401(k) Risks
The U.S. Department of Labor's employee benefits arm on Tuesday rescinded guidance from 2021 that warned 401(k) plan managers about the risks of investing in private equity, which comes after an executive order last week that called for expanding access to alternative asset classes in defined-contribution retirement plan investing.
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August 12, 2025
FTC Skeptical Of 'Partial' Sale For GTCR Merger Fix
The Federal Trade Commission told an Illinois federal court that enforcers are reviewing an offer by private equity firm GTCR BC Holding to sell parts of a medical device coatings company in order to fix concerns raised by the company's planned purchase of Surmodics, but said a full sale is preferable.
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August 12, 2025
11th Circ. Wary Of Individual Arbitration Push In ESOP Fight
The Eleventh Circuit on Tuesday appeared unlikely to force individual arbitration of a federal benefits lawsuit alleging that a legal technology company's employee stock ownership plan shares were undervalued in a plan termination, with multiple judges questioning the validity of an arbitration provision in ESOP plan documents.
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August 12, 2025
Crypto-Focused SPAC Apex Treasury Unveils $250M IPO Plans
Special purpose acquisition company Apex Treasury Corp. has filed plans for a $250 million initial public offering, with the goal of acquiring a blockchain or crypto treasury company.
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August 12, 2025
3 Firms Advise As Cardinal Health Makes $1.9B Urology Push
Cardinal Health said Tuesday that one of its specialty platforms has agreed to acquire a top urology company known as Solaris Health from Lee Equity Partners and Solaris' physician owners for $1.9 billion, in a deal steered by three law firms.
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August 12, 2025
Debevoise, Ropes & Gray Shape $3B Credit Continuation Fund
Private equity giant TPG Inc. on Tuesday announced that its middle-market direct lending platform, advised by Ropes & Gray LLP, closed a $3 billion credit-focused continuation fund alongside Debevoise & Plimpton LLP-advised Coller Capital, a transaction that the parties say marks the largest completed deal of its kind in the private secondaries market.
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August 11, 2025
Elway Trust Seeks Sale Of Foreclosed $5M Denver Property
The trust of legendary Denver Broncos quarterback John Elway is seeking to sell a 14,300-square-foot property in Denver's metro area after a local restaurateur defaulted on a $5.4 million loan, according to paperwork filed in Denver District Court.
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August 11, 2025
4 Takeaways From Trump's Order To Expand 401(k) Assets
President Donald Trump's recent executive order aimed at expanding 401(k) savers' access to nontraditional 401(k) assets like private equity and crypto could open up a greater portion of the financial market to retirement savers, attorneys say, though plenty of regulatory hurdles lie ahead. Here, Law360 looks at four key takeaways on the order with attorneys and experts.
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August 11, 2025
GTCR Says Sale, Market Nix FTC Med Tech Merger Concerns
Private equity firm GTCR BC Holdings urged an Illinois federal judge not to block its planned $627 million purchase of a medical device coatings company, arguing in a brief made public Friday that a planned divestiture fully resolves Federal Trade Commission concerns.
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August 11, 2025
CRE Fintech Firm Securities Paused For Possible Arbitration
A proposed class action accusing real estate platform CrowdStreet of enabling a $63 million fraud was paused Monday to allow individual arbitration to decide if the investors' claims can proceed.
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August 11, 2025
Judge To Order Bond, Sanctions In Crypto Miner's Ch. 11
A Delaware bankruptcy judge said Monday she would require the creditors that petitioned to force a cryptocurrency mining operation into Chapter 11 to post a multimillion-dollar bond in case their petition is dismissed.
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August 11, 2025
DOJ Touts Merger, Rental Algorithm Deals, Eyeing More
The head of the U.S. Department of Justice's Antitrust Division on Monday touted two recent settlements, in a merger case and in the RealPage algorithmic rent-fixing litigation, as indications that Trump administration enforcers will focus on algorithm-based price-fixing and are willing to "negotiate favorable settlements."
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August 11, 2025
Catching Up With Delaware's Chancery Court
Nielsen Holdings Ltd. and consumer intelligence spinoff Nielsen Consumer IQ agreed to end their dispute, a sole investor asked the court to name him lead plaintiff in a suit challenging Endeavor's $13 billion take-private deal, and the Chancery Court announced a new, automated case assignment regime. Here's the latest from the Delaware Chancery Court.
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August 11, 2025
Terraform Founder Set To Plead Out Of $40B Fraud Case
Terraform founder Do Kwon is on track to enter a guilty plea in his $40 billion criminal fraud case, a Manhattan federal judge said Monday, in an order that comes ahead of a scheduled 2026 trial and amid weeks of talks between his lawyers and prosecutors.
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August 11, 2025
Proskauer-Led JMI Equity Closes 12th Fund With $3.1B In Tow
Proskauer Rose LLP-advised growth equity software investor JMI Equity on Monday revealed that it wrapped fundraising for its 12th flagship fund after securing $3.1 billion from investors.
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August 11, 2025
Goodwin, Kirkland Steer $2B MeridianLink Take-Private Deal
Financial services-focused software company MeridianLink, led by Goodwin Procter LLP, on Monday announced plans to go private through its acquisition by financial services and technology-focused private equity shop Centerbridge Partners LP, advised by Kirkland & Ellis LLP, in a $2 billion all-cash deal.
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August 08, 2025
Lawyers Expect Tariffs On India To Catalyze US Trade Talks
The potential total of a 50% tariff on Indian imports could prove devastating for some U.S. companies in sectors not protected from the duties, leading some lawyers to anticipate the rate must be negotiated down or delayed before it takes effect.
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August 08, 2025
Titanic Artifact Ch. 11 Sale Suit Settled For $12M
A Florida bankruptcy judge Friday approved an $11.75 million settlement of a long-standing adversary lawsuit over the sale of artifacts from the Titanic during the bankruptcy of a company that ran popular traveling exhibits about the ship.
Expert Analysis
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Early Trends In Proxy Exclusion After SEC Relaxes Guidance
The U.S. Securities and Exchange Commission’s recent guidance broadening shareholder proposal exclusion under Rule 14a-8 has been undoubtedly useful to issuers this proxy season, but it does not guarantee exclusion, say attorneys at Debevoise.
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Best Practices For State Banks Eyeing Federal Conversions
Amid a notable uptick — fueled by ongoing regulatory upheaval — in state-chartered banks exploring conversion to national bank charters, banks contemplating the decision should weigh the benefits, like uniform supervision, and potential impediments, like costly exam fees, say attorneys at Skadden.
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9th Circ. Has Muddied Waters Of Article III Pleading Standard
District courts in the Ninth Circuit continue to apply a defunct and especially forgiving pleading standard to questions of Article III standing, and the circuit court itself has only perpetuated this confusion — making it an attractive forum for disputes that have no rightful place in federal court, say attorneys at Gibson Dunn.
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Series
Competing In Modern Pentathlon Makes Me A Better Lawyer
Opening myself up to new experiences through competing in modern Olympic pentathlon has shrunk the appearance of my daily work annoyances and helps me improve my patience, manage crises better and remember that acquiring new skills requires working through your early mistakes, says attorney Mary Zoldak.
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Shifting DEI Expectations Put Banks In Legal Crosshairs
The Trump administration's rollbacks on DEI-friendly policies create something of a regulatory catch-22 for banks, wherein strict compliance would contradict established statutory and administrative mandates regarding access to credit for disadvantaged communities, say attorneys at Husch Blackwell.
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DOJ Memo Lays Groundwork For Healthy Bank Sponsorships
The U.S. Department of Justice's recent digital asset policy shift offers potential clarity in the murky waters of sponsor bank relationships, presenting nontraditional financial companies with both a moment of opportunity and a test of maturity, say attorneys at Arnall Golden.
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Series
Law School's Missed Lessons: Teaching Yourself Legal Tech
New graduates often enter practice unfamiliar with even basic professional software, but budding lawyers can use on-the-job opportunities to both catch up on technological skills and explore the advanced legal and artificial intelligence tools that will open doors, says Alyssa Sones at Sheppard Mullin.
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Texas Targets Del. Primacy With Trio Of New Corporate Laws
Delaware has long positioned itself as the leader in attracting business formation, but a flurry of new legislation in Texas aimed at attracting businesses to the Lone Star State is aggressively trying to change that, says Andrew Oringer at the Wagner Law Group.
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How AI May Reshape The Future Of Adjudication
As discussed at a recent panel at Texas A&M, artificial intelligence will not erase the human element of adjudication in the next 10 to 20 years, but it will drive efficiencies that spur private arbiters to experiment, lead public courts to evolve and force attorneys to adapt, says Christopher Seck at Squire Patton.
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When Legal Advocacy Crosses The Line Into Incivility
As judges issue sanctions for courtroom incivility, and state bars advance formal discipline rules, trial lawyers must understand that the difference between zealous advocacy and unprofessionalism is not just a matter of tone; it's a marker of skill, credibility and potentially disciplinary exposure, says Nate Sabri at Perkins Coie.
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Two Bills Promise A Crypto Revamp, But Not A Done Deal Yet
Recent efforts in Congress toward an updated regulatory framework for digital assets have led to two bills — the GENIUS Act and the CLARITY Act — that represent the most consequential legislative developments yet in the push for coherent, pro-innovation, reliable regulation for the industry, but both face multiple hurdles, says Mike Katz at Manatt.
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Series
Volunteering At Schools Makes Me A Better Lawyer
Speaking to elementary school students about the importance of college and other opportunities after high school — especially students who may not see those paths reflected in their daily lives — not only taught me the importance of giving back, but also helped to sharpen several skills essential to a successful legal practice, says Guillermo Escobedo at Constangy.
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GM Case Highlights New Trends In AI-Related Securities Suits
Bold company statements about artificial intelligence have resulted in a rise in AI-related securities litigation, and a recent Michigan federal court decision in In Re: General Motors Co. Securities Litigation illustrates how courts are analyzing these AI-based claims and applying traditional securities concepts to new technologies, say attorneys at Cooley.
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Attacks On Judicial Independence Tend To Manifest In 3 Ways
Attacks on judicial independence now run the gamut from gross (bald-faced interference) to systemic (structural changes) to insidious (efforts to undermine public trust), so lawyers, judges and the public must recognize the fateful moment in which we live and defend the rule of law every day, says Jim Moliterno at Washington and Lee University.
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A Look At Texas Corp. Law Changes Aimed At Dethroning Del.
Seeking to displace Delaware as the preferred locale for incorporation, Texas recently significantly amended its business code, including changes like codifying the business judgment rule, restricting books and records demands, and giving greater protections for officers and directors in interested transactions, say attorneys at Fenwick.