Hyperscale data center campus company Vantage Data Centers on Thursday announced that it secured a $9.2 billion equity investment from DigitalBridge Group Inc. and Silver Lake, which is nearly $3 billion more than anticipated when the investment was first announced back in January.
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TOP NEWS

Data Center Developer Secures Upsized $9.2B Investment

By Jade Martinez-Pogue

Hyperscale data center campus company Vantage Data Centers on Thursday announced that it secured a $9.2 billion equity investment from DigitalBridge Group Inc. and Silver Lake, which is nearly $3 billion more than anticipated when the investment was first announced back in January.

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Troubled Insurer Considers Liquidation To Finish Onex Sale

By Najiyya Budaly

Struggling insurance company R&Q said on Thursday that it could fall into liquidation to allow it to complete the sale of its underwriting unit to a Canadian private equity shop, Onex Corp.

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JP Morgan Closes Debut Life Sciences Fund At Over $500M

By Jade Martinez-Pogue

J.P. Morgan Private Capital on Thursday announced that it clinched its inaugural life sciences private capital offering with more than $500 million in tow.

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POLICY & REGULATION

SEC's Gensler Rethinking AI Advising, Crypto Custody Regs

By Jessica Corso

U.S. Securities and Exchange Commission Chair Gary Gensler told senators Thursday that the agency could rewrite a pair of proposals governing broker-dealers' use of artificial intelligence and the handling of customers' cryptocurrency assets in the wake of "robust" feedback from both supporters and naysayers.

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DEALS

Cooley-Led Diagnostics Firm Tempus AI Raises $411M IPO

By Tom Zanki

Artificial intelligence-powered diagnostics company Tempus AI inc. priced a $410.7 million initial public offering Thursday at the top of its range, represented by Cooley LLP and underwriters counsel Davis Polk & Wardwell LLP. 

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Deals Rumor Mill: Paramount, Cineworld, Kraken IPO

By Tom Zanki

Media executive Edgar Bronfman Jr. has expressed interest in buying the company that controls Paramount Global, British cinema giant Cineworld may sell certain U.K. operations, and cryptocurrency exchange Kraken is considering a funding round of about $100 million before a potential initial public offering. Here, Law360 breaks down these and other notable deal rumors from the past week.

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Blackstone's $10B AIR Buy Gets Nod From Top 2 Proxy Firms

By Al Barbarino

Denver-based Apartment Income REIT Corp.'s shareholders have recommendations from the two leading proxy advisory firms to approve an agreement to sell off the real estate investment trust to private equity giant Blackstone for $10 billion, the company announced Thursday. 

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LITIGATION

Immigrant Bond Co. Says Sale Complied With $811M Order

By Alyssa Aquino

An immigrant bond company staring down an $811 million judgment for predatory lending practices is urging a Virginia federal court not to sanction it over its recent sale, saying the transaction complied with the judgment's restrictions on its operations.

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9th Circ. Doubts SPAC Investors Can Sue Lucid Over Merger

By Dorothy Atkins

A Ninth Circuit panel appeared skeptical Thursday of investors' bid to revive a proposed class action alleging that Lucid duped them into buying stock in a special-purpose acquisition company ahead of the electric-vehicle maker's $11.75 billion merger, with two of three judges doubting that the SPAC investors have standing to sue.

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BANKRUPTCY

Brazilian Food Chain Co. SouthRock Files Ch. 15 In Texas

By Yun Park

SouthRock Capital Ltda., a Brazilian private equity company that operates international food service brands including Starbucks and TGI Friday, filed for Chapter 15 bankruptcy in Texas, blaming its insolvency on the COVID-19 pandemic and volatility in Brazil's economy.

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PEOPLE

Polsinelli Opens In Fort Worth With 4-Atty Texas Firm Combo

By Lynn LaRowe

Polsinelli PC has stepped into its third Lone Star State city by bringing on the four-attorney team from Commercial Law Advisors PLLC in Fort Worth, Texas.

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EXPERT ANALYSIS

Reps And Warranties Insurance Considerations As M&A Slows

The first six months of the year have seen increasingly favorable rates and policy terms for the representations and warranties insurance market, and policy purchasers are right to pay close attention to pricing, coverage, exclusions, structures and claims as the M&A market cools, say attorneys at Cooley.

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Series

Playing Chess Makes Me A Better Lawyer

There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.

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LEGAL INDUSTRY

All The World's A Stage For Tony-Nominated Dechert Co-Chair

By Tracey Read

Mark Thierfelder is not only a Dechert LLP co-chair and partner; he’s also a Tony-nominated Broadway producer up for an award this June 16. Here, Law360 Pulse talks to Thierfelder on how he balances his legal work with his creative pursuits.

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Littler Aims To End Theft Suit After $1M Deal With Ex-Firm Atty

By Lynn LaRowe

Littler Mendelson PC this week moved to drop a lawsuit accusing a former associate of stealing confidential documents following a settlement in which the firm agreed to pay her nearly $1 million, though a separate, newer case in which the lawyer accuses Littler of violating that deal remains open.

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McDermott Says Financial Firm Owes $800K In Atty Fees

By Madison Arnold

McDermott Will & Emery LLP says it is owed more than $800,000 in legal fees for representing a financial firm's employee in a U.S. Securities and Exchange Commission investigation and a lawsuit by his former employer.

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Real Estate Broker Claims Lewis Brisbois Breached Deal

By Madison Arnold

A real estate broker who had exclusive rights to represent Lewis Brisbois Bisgaard & Smith LLP has slammed the firm with a breach of contract suit in California state court, alleging its abrupt termination of their deal will cost him millions in commissions.

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Goetz Fitzpatrick To Merge With Platzer Swergold Next Year

By Tracey Read

Goetz Fitzpatrick LLP and Platzer Swergold Goldberg Katz & Jaslow LLP will combine forces next year to create a single New York City firm.

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Update On Ex-George Mason Prof's Suits Over Sex Allegations

By Aebra Coe

After two women came forward last August accusing former BigLaw partner, FTC commissioner and George Mason University law professor Joshua D. Wright of sexual improprieties with students and direct reports, a number of additional accusations and lawsuits followed. Here are updates on the litigation and everything else surrounding the allegations.

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Analysis

Blistering Dissents Belie Justices' Penchant For Consensus

By Katie Buehler

Thirteen days into June, the U.S. Supreme Court had recorded one of the highest rates of unanimous decisions in the past four decades. But the era of historic consensus was tarnished a bit Friday when the court issued three split decisions and two scathing dissents highlighting how much the nine justices differ.

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DOJ Declines To Prosecute AG Garland For Contempt

By Courtney Bublé

The U.S. Department of Justice is declining to prosecute Attorney General Merrick Garland after the House voted earlier this week to hold him in contempt for not turning over audio recordings of the president and his ghostwriter speaking with special counsel Robert Hur for his investigation into President Joe Biden's handling of classified documents.

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Senate Passes Bill For State, Local Judge Security

By Courtney Bublé

The U.S. Senate has passed a bill unanimously to better protect state and local judges from threats amid "unacceptable attacks" on the judiciary.

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Hunter Biden Axes Data Privacy Suit Against Giuliani, For Now

By Emily Sawicki

Hunter Biden has tentatively agreed to drop a federal computer fraud and digital privacy suit against Rudy Giuliani and various other defendants relating to alleged data theft from his infamous laptop, after the case was partially stalled due to Chapter 11 bankruptcy proceedings Giuliani commenced in December.

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Mistrial Declared In Florida Student Debtor Lawsuit

By David Minsky

A Florida federal judge on Friday declared a mistrial in the lawsuit against a Boca Raton-based law firm accused of falsely promising to eliminate student loan debts in exchange for a fee following testimony from a former client.

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Burford Bound To Sysco And Pilgrim's Unsigned Chicken Deal

By Lauraann Wood

An Illinois federal judge on Friday rejected a Burford subsidiary's bid to block a global protein price-fixing settlement that Pilgrim's Pride and Sysco memorialized through email but never signed on paper, saying it's clear the parties reached a material agreement.

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Law360's Legal Lions Of The Week

By Kevin Penton

Williams & Connolly LLP and Littler Mendelson PC lead this week's edition of Law360's Legal Lions, after the U.S. Supreme Court made it tougher for the National Labor Relations Board to win injunctions against employers.

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GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

The governor of Vermont vetoed a legislative proposal that would have given consumers not only new data privacy rights but also the rare opportunity to sue large businesses for certain violations, and a multipart Delaware General Corporation Law amendment that would let boards cede some governance rights to big stockholders sailed through the state's Senate without debate or an opposing vote. These are among the stories in corporate legal news you may have missed in the past week.

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UK Litigation Roundup: Here's What You Missed In London

By Laura Stewart Liberty

This past week in London has seen toy company Jellycat hit supermarket Aldi with an intellectual property claim, AIG start proceedings against firefighting foam company Angus International Safety Group, and the Solicitors Regulation Authority file a legal claim against the Post Office amid the ongoing Horizon IT scandal. Here, Law360 looks at these and other new claims in the U.K.

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COMPANIES IN TODAY'S NEWS

777 Partners LLC

Aldi GmbH & Co. KG

AlixPartners LLP

Amazon.com Inc.

American Bar Association

American International Group Inc.

Apple Inc.

AstraZeneca PLC

BDT & MSD Partners LLC

Baillie Gifford & Co.

Bain Capital Crypto

Banco Modal SA

Banco Votorantim SA

Bloomberg

Bloomberg Industry Group

Bregal Investments Inc.

Buffalo Bills

Citigroup Inc.

Delaware State Bar Association

Delta Air Lines Inc.

DigitalBridge Group Inc.

Ferrari SpA

Glass Lewis & Co. LLC

Google LLC

Groupon Inc.

HSBC Holdings PLC

Harvard University

Heathrow Airport Holdings Ltd.

Hyundai Motor Co.

Institutional Shareholder Services Inc.

JPMorgan Chase & Co.

Jaguar Land Rover Ltd.

Johnson Controls International PLC

Kotak Mahindra Bank

Kuwait Finance House KSC

Lambda Legal Defense & Educational Fund

London Stock Exchange Group PLC

Lucid Motors

Major League Soccer LLC

Marks & Spencer

Mercedes-Benz USA LLC

Meta Platforms Inc.

Morgan Stanley

NASDAQ Inc.

NFL Enterprises LLC

National Amusements Inc.

National District Attorneys Association

National Rifle Association of America

New York University

Nickelodeon Global Network Ventures Inc.

OSI Systems Inc.

Organization for Economic Cooperation and Development

Paramount Global

Pearson PLC

Philadelphia Eagles

Pilgrim's Pride Corp.

PowerSchool Group LLC

Princeton University

Rapiscan Systems Inc.

RedRidge Finance Group LLC

Rolls-Royce Motor Cars

Sanderson Farms Inc.

Skydance Media LLC

SoftBank Group Corp.

Solicitors Regulation Authority Ltd.

Southwest Airlines Co.

Starbucks Corp.

Stifel Financial Corp.

Sysco Corp.

TD Securities Inc.

The Goldman Sachs Group Inc.

The Procter & Gamble Co.

TransPerfect Global Inc.

Twitter Inc.

Vantage Data Centers

Volkswagen AG

William Blair & Co. LLC

Yext Inc.

YouTube Inc.

LAW FIRMS IN TODAY'S NEWS

Baute Crochetiere

Binnall Law Group

Brown Rudnick

Capsticks Solicitors LLP

Cohen Milstein

Conrad & Scherer

Cooley LLP

Cravath Swaine

Davidoff Hutcher

Davis Polk

Dechert LLP

Dhillon Law Group

Early Sullivan Wright Gizer & McRae

Freshfields

GM Law Firm LLC

Gibson Dunn

Goetz Fitzpatrick

Gordee Nowicki

Hamlins LLP

Hancock Daniel

Hill Dickinson

Hirschler

Hogan Lovells

Jones Day

Joshua S. Horton Law Firm

K&L Gates

Kellogg Hansen

King & Spalding

Kirkland & Ellis

Labaton Keller

Latham & Watkins

Law Office of Macy D. Hanson

Law Office of Steven J. Fink PLLC

Lewis Brisbois

Littler Mendelson

Loeb & Loeb

Lynn Pinker

Mayer Brown

McDermott Will & Emery

O'Melveny & Myers

Pearson Warshaw

Pillsbury & Coleman

Pinsent Masons

Platzer Swergold

Polsinelli PC

Proskauer Rose

Quinn Emanuel

Reed Smith

Ropes & Gray

Ryan Law Partners

Searcy Denney

Seeger Weiss

Simpson Thacher & Bartlett LLP

Skadden Arps

St John & St John

Vasseghi Law

Williams & Connolly

Willkie Farr

Wilson Browne Solicitors

Wilson Sonsini

Winston & Strawn

Zaiwalla & Co

gunnercooke LLP

GOVERNMENT AGENCIES IN TODAY'S NEWS

California Labor Commissioner's Office

Commodity Futures Trading Commission

Consumer Financial Protection Bureau

Dallas County, Texas

Delaware Court of Chancery

European Union

Federal Trade Commission

National Labor Relations Board

State Justice Institute

U.S. Court of Appeals for the Ninth Circuit

U.S. Department of Commerce

U.S. Department of Justice

U.S. District Court for the Eastern District of Virginia

U.S. District Court for the Northern District of Illinois

U.S. District Court for the Southern District of Florida

U.S. District Court for the Southern District of New York

U.S. District Court for the Western District of Virginia

U.S. Patent and Trademark Office

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court