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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.
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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.
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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.
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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.
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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.
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December 01, 2023
Monthly Merger Review Snapshot
The U.S. Department of Justice pushed a bid in federal court to block JetBlue's planned purchase of Spirit Airlines, as the Federal Trade Commission urged a court to pause a health care data company's deal and enforcers in the U.K. and Europe both found problems with Adobe's planned $20 billion acquisition of design collaboration company Figma.
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December 01, 2023
Justice O'Connor Shattered Barriers, Built Bridges
A Southwestern cowgirl who will always be known as the first woman to sit on the U.S. Supreme Court, Justice Sandra Day O’Connor inspired those around her with an indomitable work ethic, a deep affection for public service and an innate ability to drive consensus among her colleagues.
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December 01, 2023
SPAC Eyeing AirAsia Parent Merger Risks Nasdaq Delisting
Special-purpose acquisition company Aetherium Acquisition Corp. is at risk of having its securities delisted from the Nasdaq following multiple bouts of noncompliance with listing rules, according to an announcement Friday — just a month after the SPAC announced plans to merge with and take public Malaysian airline AirAsia's parent company.
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December 01, 2023
UK Clears Siemens Deal For EV Charging Biz
The U.K.'s competition regulator said on Friday that it will not investigate the proposed acquisition by German technology giant Siemens AG of a Dutch electric vehicle charging company any further and will close the case.
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December 01, 2023
Weil Reps Brookfield On Historic $30B Infrastructure Fund
Weil Gotshal & Manges LLP-advised Brookfield Asset Management clinched its fifth flagship global infrastructure equity fund and related co-investment vehicles after securing $30 billion in commitments, marking not only the firm's largest fund ever raised but the largest closed-ended private infrastructure fund ever, according to a Friday statement.
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December 01, 2023
Sandra Day O'Connor, First Woman On Supreme Court, Dies
Retired U.S. Supreme Court Justice Sandra Day O'Connor, the court's first female member, died Friday at 93, according to the court. Justice O'Connor's position at the ideological center of the court gave her outsized influence in controversial cases during her 25-year tenure.
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December 01, 2023
New Commanders Owners Face Challenging Road To Stadium
The new owners of the NFL's Washington Commanders inherited a mountain of critical issues from embattled former owner Daniel Snyder, including a federal investigation into alleged financial improprieties. Determining where home games would be played in four years when the team's current stadium lease expires was not at the top of the priority list — but finding a new home will be complicated and require all the time the Commanders can get.
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November 30, 2023
IP Forecast: Beauty And The Copyright-Protected Beast
A federal courthouse in Oakland will be center stage next week for a jury trial over allegations that Disney owes profits from the billion-dollar Emma Watson blockbuster "Beauty and the Beast" remake to ex-Microsoft executive Steve Perlman's digital effects company for infringing copyright-protected software to make the movie's live-action beast. Here's a look at that case — plus all the other major intellectual property matters on deck in the coming week.
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November 30, 2023
Pharmavite Acquires Women's Health Co. Bonafide For $425M
Pharmavite, the maker of Nature Made vitamins, announced Thursday that it has acquired menopause-focused women's health company Bonafide Health in an all-cash $425 million deal.
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November 30, 2023
2nd Circ. Won't Revive Nuveen's Shareholder Voting Limits
The Second Circuit on Thursday upheld a district court ruling that determined trustees for Nuveen's closed-end mutual funds violated activist investor Saba Capital's voting rights by enacting bylaws restricting voting power once an investor's stake exceeds a certain threshold.
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November 30, 2023
Del. Power Struggle For NY Lithium Battery Co. Heats Up
An investor in a New York-based lithium-ion cell manufacturer that sued in Delaware's Court of Chancery to stop its majority equity holder from carrying out a board coup now says an unnamed secured lender for the startup has intervened in the dispute and is alleging it has the right to replace the company's board.
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November 30, 2023
Favre Taking Sharpe Defamation Suit To 5th Circ.
Former NFL quarterback Brett Favre plans to appeal to the Fifth Circuit as he tries to keep alive his defamation suit against commentator Shannon Sharpe for comments the ex-tight end made on Fox Sports regarding Favre's ties to a Mississippi welfare scandal.
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November 30, 2023
Deals Rumor Mill: Humana-Cigna, Shein IPO, Occidental
Humana and Cigna are exploring a merger that would shake up the health insurance industry, online fashion giant Shein is planning an IPO in 2024, and Occidental Petroleum wants to buy energy producer CrownRock for $10 billion. Here, Law360 breaks down these and other notable deal rumors from the past week.
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November 30, 2023
Former TPG Deputy GC Rejoins Debevoise In San Francisco
A former Debevoise & Plimpton LLP asset management attorney has rejoined the firm's San Francisco office as of counsel following a stint as deputy general counsel with private equity firm TPG.
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November 30, 2023
Ariel Buys Stake In Multicultural Media Biz At $400M Valuation
Private investment firm Ariel Alternatives LLC said Thursday it has purchased a 58.5% stake in multicultural media company My Code through its inaugural private equity fund, Project Black, at an enterprise value of $400 million.
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November 30, 2023
McNees Wallace Adds Auto Dealer M&A Atty In Md., DC
McNees Wallace & Nurick LLC has added a new attorney to its automotive dealership law group, the first member of the now nine-attorney team to be based in Maryland.
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November 30, 2023
Oil And Gas Majors Step Into M&A Spotlight Moving Into 2024
Exxon's and Chevron's respective $60 billion and $53 billion mega-deals announced last month could mark the beginning of a new era of consolidation in the gas and oil industries — and it is unlikely that regulators will stand in the companies' way as they look to close the transactions in 2024.
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November 30, 2023
French PE Firm Raises €1.2B To Invest In Green Infrastructure
French private equity firm Antin said Thursday that it has raised €1.2 billion ($1.3 billion) for its NextGen fund, which will invest in sustainable infrastructure across Europe and North America.
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November 29, 2023
StraightPath Execs Charged In $386M IPO Fraud Scheme
Three principals of private equity firm StraightPath Venture Partners have been indicted in New York federal court on charges they raised $386 million by defrauding over 2,000 investors through false promises about purchases of pre-IPO shares in private companies, according to a Wednesday statement from the U.S. Department of Justice.
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November 29, 2023
Fed. Circ. Told To Defer To ITC In Apple Watch IP Row
A small Silicon Valley medical device startup's efforts to use the U.S. International Trade Commission to litigate allegations that Apple Inc. pilfered health tracking software for its smartwatches have drawn supportive amicus briefs from a handful of trade groups, a billionaire venture capitalist and a Japanese manufacturer of health monitors.
Expert Analysis
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Series
Writing Thriller Novels Makes Me A Better Lawyer
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.
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What Lawyers Must Know About Calif. State Bar's AI Guidance
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.
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Industry Must Elevate Native American Women Attys' Stories
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.
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A Breakdown Of The OCC's New Venture Lending Pointers
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.
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Crypto, Audit Cases Dominate SEC's Enforcement Focus In '23
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.
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Understanding Discovery Obligations In Era Of Generative AI
Excerpt from Practical Guidance
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.
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Series
ESG Around The World: Mexico
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.
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The Case For Post-Bar Clerk Training Programs At Law Firms
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.
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SEC Whistleblower Action Spotlights Risks For Private Cos.
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.
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Attorneys Have An Ethical Duty To Protect The Judiciary
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.
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Cross-Market Implications In FTC's Anesthesia Complaint
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.
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Why The Debt Maturity Wall Is Still A Figment, For Now
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.
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AI Can Help Lawyers Overcome The Programming Barrier
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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Are CCOs Really In The SEC's Crosshairs?
U.S. Securities and Exchange Commission Enforcement Director Gurbir Grewal recently gave a speech to address the concerns of chief compliance officers in light of recent enforcement actions taken against them, but CCOs need to understand when to push back against management, quit, or report issues to the board or to regulators, say Brian Rubin and Adam Pollet at Eversheds Sutherland.
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Breaking Down The SEC's 2024 Examination Priorities
The U.S. Securities and Exchange Commission’s recently released examination priorities for the year ahead signal a steady course from prior years, but they also include some specific new concerns and important twists on perennial risk areas, say Kurt Gottschall and Kit Addleman at Haynes Boone.