Spacecraft manufacturing company Apex on Wednesday announced that it clinched its Series B funding round after securing $95 million from investors, which will be used to help the Los Angeles-based company ramp up production to meet growing customer demand.
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THURSDAY, JUNE 13, 2024 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Spacecraft Maker Clinches $95M Series B Funding Round

By Jade Martinez-Pogue

Spacecraft manufacturing company Apex on Wednesday announced that it clinched its Series B funding round after securing $95 million from investors, which will be used to help the Los Angeles-based company ramp up production to meet growing customer demand.

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Sen. Dems Seek Criminal Penalties For PE Hospital 'Looters'

By Jared Foretek

A pair of Democratic senators are targeting private equity's role in the healthcare industry, introducing new legislation Tuesday that would give federal and state enforcers new tools to go after firms they say are "looting" hospital systems and other providers, including possibly jailing executives if patient deaths result.

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SPAC Dealmakers Expect Modest Pickup After Market Bottom

By Tom Zanki

Market professionals expect a slow pickup in deals involving special-purpose acquisition companies starting in the second half of 2024, predicting on Wednesday that a leaner market will emerge following the recent crash and imposition of tighter regulations.

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Microsoft, OpenAI Call Papers' Suit A 'Copycat' Of NYT's Case

By Ivan Moreno

OpenAI and Microsoft Corp. have asked a New York federal court to toss the bulk of a copyright complaint from eight newspapers that accuses the companies of stealing their content to develop versions of ChatGPT, contending the lawsuit is modeled after one from The New York Times and saying the allegations mischaracterize the technology.

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Brief

Oppenheimer, Cybersecurity Co. Settle $12M SPAC Bill Spat

By Katryna Perera

Oppenheimer & Co. and an Israeli cybersecurity company have reached a settlement to end claims that the company refused to pay $12 million in fees for SPAC merger-related services the investment bank provided, according to a New York federal court filing made Wednesday.

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Brief

Texas Anesthesia Co. Appealing To Duck FTC Suit To 5th Circ.

By Bryan Koenig

U.S. Anesthesia Partners Inc. gave notice Wednesday that it will ask the Fifth Circuit to review a Texas federal judge's mid-May decision refusing to toss Federal Trade Commission allegations of a monopolistic "roll-up" of Lone Star State anesthesia practices.

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Hedge Fund Manager Cops To $3M Fraud Scheme

By Katryna Perera

A New York fund manager on Wednesday admitted to defrauding investors out of at least $3 million through his investment management firm, in a scheme that has been ongoing for the last three years.

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POLICY & REGULATION

GOP, Dems Fight Over Climate Investment 'Collusion'

By Bryan Koenig

House Judiciary Democrats and Republicans traded barbs and competing staff reports Wednesday over investment industry initiatives to combat climate change that the GOP called a "climate cartel" and their partisan rivals said is simply responsible, and voluntary, investing.

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DEALS

Matador Paying $1.9B For EnCap Delaware Basin Assets

By Al Barbarino

Dallas-based Matador Resources Co. has agreed to pay just over $1.9 billion for a subsidiary of the EnCap Investments portfolio company Ameredev II Parent, taking control of oil and natural gas producing properties across the Delaware Basin.

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4 Firms Steer $3.7B Canadian Banking Merger

By Al Barbarino

Four firms are serving as the key legal advisers on a newly inked agreement for National Bank of Canada to purchase Canadian Western Bank, or CWB, in a deal that values the latter institution at approximately CA$5 billion ($3.7 billion) and sent its stock soaring more than 70% Wednesday. 

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PEOPLE

Rimon Hires 5 Partners, Expands Global Transactions Team

By Jack Rodgers

A team of five partners focusing on transactional, finance and corporate matters has joined Rimon PC across several countries to represent investors, asset managers, credit funds and other clients.

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EXPERT ANALYSIS

How M&A Attorneys Can Best Serve Self-Funded Searchers

Post-pandemic, and with the so-called great wealth transfer on the horizon, individuals looking for small and midsize businesses to acquire are increasingly going the self-funded route, so deal attorneys must understand the major pain points and unique needs of this demographic, say Kevin Henderson and Eric Pacifici at SMB Law Group.

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Litigation Inspiration: Attys Can Be Heroic Like Olympians

Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.

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LEGAL INDUSTRY

Analysis

How 3 Firms Cleared 2 Ex-Autonomy Execs In HP Fraud Case

By Bonnie Eslinger

A California federal jury's rejection last week of fraud charges against the founder and former finance vice president of British software company Autonomy validated an approach by the defendants' three law firms — Steptoe, Clifford Chance and Bird Marella — to form a "seamless" collaboration throughout the trial, from jury selection to closing arguments.

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Senate Panel OKs Fix For Federal Courts' 'Genuine Crisis'

By Courtney Bublé

The Senate Judiciary Committee voted out unanimously on Thursday a bipartisan bill to create 66 new and temporary judgeships to alleviate the federal courts' workload.

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Contentious Del. Corporate Law Changes Sail Through Senate

By Jeff Montgomery

After triggering rare public dissent, a multipart Delaware general corporation law amendment that would let boards cede some governance rights to big stockholders whisked through the state's Senate on Thursday without debate or an opposing vote, with a House vote expected as early as next week.

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Rutgers Fights Law School Vice Dean Subpoena In Bias Suit

By Jake Maher

Rutgers University argued in New Jersey state court this week that an attempt from a Jewish law student to subpoena the law school's vice dean for documents is really a means to "harass" the university because the student has already subpoenaed Rutgers for the same information.

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Confronting The Psychological Toll Of Personal Injury Law

Personal injury lawyers advocate for clients who have experienced trauma, loss and life-altering injuries, but these cases can have an emotional impact on attorneys themselves — so it is crucial to address these challenges proactively and openly, and normalize the conversation around mental health in the legal profession, says Lisa Lanier at Lanier Law Group.

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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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COMPANIES IN TODAY'S NEWS

Ameredev II LLC

American Investment Council

Andreessen Horowitz LLC

Axon Enterprise Inc.

Cerberus Capital Management LP

Citigroup Inc.

Delaware State Bar Association

Deloitte Touche Tohmatsu Ltd.

EnCap Investments LP

JPMorgan Chase & Co.

Jefferies Financial Group Inc.

LinkedIn Corp.

Matador Resources Co.

Microsoft Corp.

Mirae Asset Financial Group

Moelis & Co.

National Bank of Canada

New York Daily News Co.

New York University

Oppenheimer Holdings Inc.

Pacific Investment Management Co. LLC

Perceptive Advisors LLC

Pew Research Center

State Street Global Advisors Inc.

Steward Health Care System LLC

The New York Times Co.

TikTok Inc.

Total Quality Logistics Inc.

U.S. Anesthesia Partners

Welsh Carson Anderson & Stowe

LAW FIRMS IN TODAY'S NEWS

Akin Gump

Archer & Greiner

Baker Botts

Bingham McCutchen

Bird Marella

Cadwalader Wickersham

Clifford Chance

Ellenoff Grossman

Fasken

Freshfields

Hilgers Graben

Javerbaum Wurgaft

Keker Van Nest & Peters

Lanier Law Group

Latham & Watkins

Law Office of Rajeh A. Saadeh

Law Office of Steven J. Fink PLLC

Loeb & Loeb

Mayer Brown

Mazie Slater

McCarthy Tetrault

Morgan Lewis

Morrison Foerster

Morvillo Abramowitz

Norton Rose

Orrick Herrington

Quinn Emanuel

Rimon PC

Rothwell Figg

Steptoe LLP

Torys

Vinson & Elkins

GOVERNMENT AGENCIES IN TODAY'S NEWS

California Public Employees' Retirement System

Delaware Court of Chancery

Federal Bureau of Investigation

Federal Trade Commission

Judicial Conference of the United States

Lea County, New Mexico

Small Business Administration

U.S. Attorney's Office

U.S. Attorney's Office for the Northern District of California

U.S. Court of Appeals for the Ninth Circuit

U.S. Department of Defense

U.S. Department of Justice

U.S. District Court for the District of New Jersey

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

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

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

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

U.S. Government Accountability Office

U.S. Securities and Exchange Commission

U.S. Supreme Court

United States District Court for the Southern District of Ohio