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Asset Management
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July 21, 2025
Tax-Lien Biz Atty Tells Jury He Didn't Seek To Dupe Lender
Counsel for a former compliance lawyer accused of pilfering from a $20 million line of credit extended to his tax-lien investment firm told a Manhattan federal jury Monday that the defendant was "sloppy," but never intended fraud.
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July 21, 2025
Stadium Deal Still On Despite Trump Threat, DC Officials Say
The mayor and City Council chair of Washington, D.C., said on Monday that they were focusing on their roles in approving the $3 billion plan for a new stadium for the NFL's Commanders, regardless of President Donald Trump's weekend threat to kill the deal if the team's racist former nickname was not brought back.
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July 21, 2025
DOL Rescinds ERISA Guidance On Citi Racial Equity Program
The U.S. Department of Labor rescinded a Biden-era opinion letter Monday that had backed Citi's commitment to pay fees for diverse investment managers overseeing Citi-sponsored benefit plans regulated by the Employee Retirement Income Security Act, saying the letter no longer reflected the department's views.
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July 21, 2025
Latham And Cravath Steer $730M ZimVie Take-Private Deal
Latham & Watkins LLP is advising healthcare investment firm ArchiMed on an agreement to purchase Cravath Swaine & Moore LLP-led dental implant company ZimVie Inc. at a roughly $730 million valuation, ZimVie announced Monday.
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July 21, 2025
2nd Circ. Backs Union Win Over Concrete Cos. In CBA Fight
The Second Circuit on Monday refused to revive a fringe contributions dispute between two concrete companies and a group of union fringe benefit funds, affirming a lower court's decision to hand the union an early win that was partially based on the companies' failure to respond to discovery requests.
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July 21, 2025
2nd Circ. Affirms Big Banks' Win In Terrorism Financing Fight
A New York federal judge was right to dismiss a suit seeking to hold Deutsche Bank, Standard Chartered Bank and Danske Bank liable for aiding and abetting terrorist bombings in Afghanistan, a Second Circuit panel ruled Monday.
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July 21, 2025
Web Design Giant Figma Launches Plans For $979M IPO
Venture-backed web-design software maker Figma on Monday outlined plans for an estimated $979 million initial public offering, a move that comes after the company's failed $20 billion merger with Adobe Inc.
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July 21, 2025
The Ether Machine Goes Public With $1.5B Via SPAC Merger
Ether generation company The Ether Machine, advised by Skadden Arps Slate Meagher & Flom LLP, on Monday launched as a public company with more than $1.5 billion of committed capital following its merger with Gibson Dunn & Crutcher LLP-advised special purpose acquisition company Dynamix Corp.
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July 21, 2025
Carlyle Selling Calastone To SS&C In $1B Fund Tech Deal
SS&C Technologies said Monday it has agreed to acquire global funds network and technology provider Calastone from private equity firm Carlyle for approximately £766 million ($1.03 billion).
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July 21, 2025
Paul Hastings Boosts Tax Team In NY With Ex-Kirkland Atty
Paul Hastings LLP announced Monday that a former Kirkland & Ellis LLP attorney is bringing her tax practice to its New York office in a move the firm says will bolster its ability to guide clients through complex deals like mergers, acquisitions and private equity transactions.
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July 18, 2025
Law360 Names 2025's Top Attorneys Under 40
Law360 is pleased to announce the Rising Stars of 2025, our list of more than 150 attorneys under 40 whose legal accomplishments belie their age.
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July 18, 2025
Top 4 Texas Court Rulings Of 2025: Midyear Report
Texas courts made several high-profile decisions in the first half of 2025, including backing a multibillion-dollar mattress merger, awarding more than $6 million to employees fired by Texas Attorney General Ken Paxton, and granting the state a $1.4 billion data privacy settlement with Google. Here are four of the biggest court rulings in Texas so far this year.
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July 18, 2025
Texas Panel Says RE Funds Can Bar Manager, For Now
A Texas appellate court mostly kept intact a court order barring the former manager of multiple commercial real estate funds from interfering with the funds going forward, saying the funds had done enough to show the former manager was undercutting their financial interests.
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July 18, 2025
Boeing Urges 4th Circ. To Decertify 737 Max Investor Class
Boeing told the Fourth Circuit on Friday that a Virginia district court flouted U.S. Supreme Court precedent by certifying a class of investors alleging the company misrepresented the safety of its 737 Max 9 fleet after a door plug blowout, saying there's zero evidence backing the plaintiffs' damages theories.
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July 18, 2025
Equity Firm Settles Former Executive's Gender, Age Bias Suit
A private equity firm has agreed to settle and close a former executive's suit alleging she was passed over for promotions and paid less than younger men out of bias, and eventually fired for complaining about it, according to a filing Friday in Connecticut federal court.
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July 18, 2025
Taxation With Representation: Wachtell, Slaughter And May
In this week's Taxation With Representation, Blackstone pours billions into data centers and related infrastructure, Waters Corp. and Becton Dickinson look to form a new life sciences powerhouse, Reckitt sells 70% of its Essential Home business to private equity firm Advent, and Chevron completes its acquisition of Hess following a favorable arbitral award.
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July 18, 2025
Venture-Backed Medical Tech Biz Heartflow Plans $100M IPO
Private equity and venture-backed medical technology company Heartflow has unveiled plans to raise up to $100 million in its initial public offering, with law firm O'Melveny & Myers LLP advising the company and Cooley LLP advising the underwriters.
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July 18, 2025
Sidley-Led Stonepeak Plugs $1.3B Into Latham-Led PDG
Asia Pacific data center operator Princeton Digital Group, advised by Latham & Watkins LLP, on Friday revealed that it received a $1.3 billion investment from Sidley Austin LLP-led alternative investment firm Stonepeak to help support its continued expansion.
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July 17, 2025
Bitcoin Treasury Firm To Go Public Via $1.5B SPAC Deal
Bitcoin investment company BSTR Holdings Inc. announced on Thursday that special purpose acquisition company Cantor Equity Partners I Inc. will provide it with up to $1.5 billion in financing in a go-public deal, guided by Ellenoff Grossman & Schole LLP and Skadden Arps Slate Meagher & Flom LLP.
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July 17, 2025
Thrivent Challenges SEC Over FINRA Arbitration Rules
Financial services giant Thrivent has filed a petition in the D.C. Circuit Court of Appeals seeking to force the U.S. Securities and Exchange Commission to review three rules adopted by the Financial Industry Regulatory Authority that give the agency exclusive jurisdiction over arbitration disputes between brokers and their customers.
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July 17, 2025
SEC Atty Exits After Hiding Revoked License, OIG Says
A longstanding employee of the U.S. Securities and Exchange Commission resigned after it was discovered that they had falsely reported being in good standing with a state bar association, according to the regulator's inspector general.
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July 17, 2025
Problematic Fund Harmed Health Tech Co. 401(k), Court Told
Health technology company Philips North America cost workers millions by retaining a stable value investment fund in its $5 billion retirement plan that produced dismal returns for workers and by mismanaging forfeited funds, three workers told a Massachusetts federal court.
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July 17, 2025
PE Firm Is Denied FDA Docs For Defense In Deal Challenge
An Illinois federal court on Wednesday denied a request from private equity firm GTCR BC Holdings LLC to force the U.S. Food and Drug Administration to produce more than a decade's worth of medical device approval applications as the firm fights a merger challenge from enforcers.
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July 17, 2025
Google Lands $2.4B Windsurf Tech Deal, And More Rumors
Google has agreed to pay $2.4 billion to license the technology of Windsurf, a private equity investment will value PCI Pharma Services at $10 billion, and KKR is mulling a potential buyout of Italian healthcare technology firm GPI SpA. Here, Law360 breaks down these and other deal rumors from the past week:
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July 17, 2025
The Riverside Co. Clinches Latest Fund With $750M In Tow
Global investment firm The Riverside Company, advised by Jones Day, on Thursday revealed that it wrapped its second value fund at its hard cap with $750 million of investor commitments.
Expert Analysis
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How High Court's Cornell Decision Will Affect ERISA Suits
The U.S. Supreme Court's recent decision in Cunningham v. Cornell, characterizing prohibited transaction exemptions as affirmative defenses, sets the bar very low for initiating Employee Retirement Income Security Act litigation, and will likely affect many plan sponsors with similar service agreements, says Carol Buckmann at Cohen & Buckmann.
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Series
Power To The Paralegals: The Value Of Unified State Licensing
Texas' proposal to become the latest state to license paraprofessional providers of limited legal services could help firms expand their reach and improve access to justice, but consumers, attorneys and allied legal professionals would benefit even more if similar programs across the country become more uniform, says Michael Houlberg at the University of Denver.
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1st Circ. Ruling May Slow SEC Retail Investment Advice Cases
The First Circuit's recent ruling, finding the U.S. Securities and Exchange Commission did not substantiate its $93.3 million fine against a retail investment adviser, may raise the threshold on materiality findings in these cases and add a speed bump resulting in fewer such actions, say attorneys at Weil.
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10 Soft Skills Every GC Should Master
As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.
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How Proxy Advisory Firms Are Approaching AI And DEI
Institutional Shareholder Services' and Glass Lewis' annual updates to their proxy voting guidelines reflect some of the biggest issues of the day, including artificial intelligence and DEI, and companies should parse these changes carefully, say attorneys at Cahill Gordon.
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.
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Ban On Reputation Risk May Help Bank Enforcement Defense
The Comptroller of the Currency and Federal Deposit Insurance Corp.’s recent commitment to stop examining banks for reputation risk could help defendants in enforcement actions challenge unfavorable assessments and support defendants' arguments for lower civil money penalties, says Brendan Clegg at Luse Gorman.
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Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.
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Series
Volunteer Firefighting Makes Me A Better Lawyer
While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.
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Limit On SEC Enforcement Authority May Mean Fewer Actions
Following a recent U.S. Securities and Exchange Commission final rule revoking the Enforcement Division director's long-standing authority to issue formal investigation orders, it's clear the division is headed for a new era of limited autonomy, marked by a significantly slower pace of SEC investigations, say attorneys at Ballard Spahr.
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5 Ways Banking Has Changed In 5 Years Since COVID
Since the start of the pandemic five years ago, technology, convenience and shifting expectations have transformed compliance for the financial services industry in several key ways, from the shrinking role of the traditional bank branch to the rise of fintech and mobile payments, says Christopher Pippett at Fox Rothschild.
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E-Discovery Quarterly: The Perils Of Digital Data Protocols
Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.
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Series
Law School's Missed Lessons: Preparing For Corporate Work
Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.
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OCC Patriot Bank Order Spotlights AML Issues For Managers
The Office of the Comptroller of the Currency's focus on payments and prepaid card program managers in its recent consent order with Patriot Bank is noteworthy and shows regulators are unlikely to back down on enforcement related to Bank Secrecy Act/anti-money laundering, say attorneys at Troutman Pepper.
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.