Shearman

Prominent Patent Trial Team Joins Reichman Jorgensen Lehman & Feldberg in Silicon Valley

Retrieved on: 
Wednesday, June 21, 2023
Shearman & Sterling, Patent, Duke University, Intellectual property, United States Court of Appeals for the Federal Circuit, University, GE HealthCare, Public Citizen Litigation Group, Northrop Grumman, Temple University, Berkeley, Chambers, Senior counsel, Ronald, Sony, Pennsylvania State University, Superior court, ISR, Intelligence, Northrop, Partner (business rank), Biomedical engineering, Grumman, United States International Trade Commission, Judgement, Wang, Massachusetts Institute of Technology, Patent Trial and Appeal Board, Silicon, Southern California Law Review, Running, Morris, Shearman, Fortune 500, Chambers and Partners, Chemical engineering, ITC, B.S.E, New York Law School, Software, Private investigator, Airbus

REDWOOD SHORES, Calif., June 21, 2023 /PRNewswire/ -- Reichman Jorgensen Lehman & Feldberg LLP (RJLF), an elite, majority women-owned trial boutique, has announced the addition of four trial lawyers to its Silicon Valley Office.

Key Points: 
  • REDWOOD SHORES, Calif., June 21, 2023 /PRNewswire/ -- Reichman Jorgensen Lehman & Feldberg LLP (RJLF), an elite, majority women-owned trial boutique, has announced the addition of four trial lawyers to its Silicon Valley Office.
  • Berkowitz has argued and won numerous cases before the Court of Appeals for the Federal Circuit and the Patent Trial and Appeal Board.
  • Companies with the most challenging disputes have called on Matt, which is no surprise given his tech acumen, judgment, and trial experience," said Courtland Reichman , RJLF's Managing Partner.
  • "It's an honor to join RJLF's team in Silicon Valley," said Berkowitz.

Ad Hoc Lender Group Responds to Meritless Lawsuit Filed by BYJU’S

Retrieved on: 
Thursday, June 8, 2023
Professional Services, Legal, Finance, LLP, Houlihan Lokey, Shearman & Sterling, Kirkland & Ellis, Shearman, Supreme court

A group of ad hoc term loan lenders, who collectively own more than 85% of BYJU’S $1.2 billion term loan, today issued the following statement in response to a recent lawsuit filed by BYJU’S in the Supreme Court of the State of New York County of New York.

Key Points: 
  • A group of ad hoc term loan lenders, who collectively own more than 85% of BYJU’S $1.2 billion term loan, today issued the following statement in response to a recent lawsuit filed by BYJU’S in the Supreme Court of the State of New York County of New York.
  • “BYJU’S’ meritless lawsuit against its term loan lenders is simply an effort to avoid complying with its obligations, including making contractually required payments.
  • The lender group, comprised of 21 highly respected global institutional investors, has sought to work constructively with the company over the past nine months to cure its numerous defaults and will continue to do so in good faith.
  • However, in the event BYJU’S intentionally remains in default, the lender group reserves all rights available to it to enforce the credit agreement.”
    Houlihan Lokey serves as financial advisor to the term loan lender group and Kirkland & Ellis LLP, Cahill Gordon & Reindel LLP, and Shearman & Sterling LLP are serving as legal advisors.

BorgWarner names PHINIA Chairman and Board of Directors Ahead of Spin-Off

Retrieved on: 
Friday, June 2, 2023
Shearman & Sterling, BorgWarner, General counsel, BWA, In re Citigroup Inc. Shareholder Derivative Litigation, Ernst & Young, Risk management, Harvard College, Harvard Law School, Fast fuel system, Strategic planning, Accounting, Business administration, Bank of America, Alternator, Accuride Corporation, Commercial vehicle, Engineering, Partnership, Harvard Business School, Bank, Master of Business Administration, Worldwide Harmonised Light Vehicles Test Procedure, NYSE, Shearman, Non-executive director, Management

Mr. Weerasinghe retired from Citigroup, Inc. in December 2021 where he served as General Counsel from 2012.

Key Points: 
  • Mr. Weerasinghe retired from Citigroup, Inc. in December 2021 where he served as General Counsel from 2012.
  • Prior to this, he served as the Senior Partner for the law firm of Shearman & Sterling.
  • Mr. Weerasinghe is a graduate of Harvard College and holds a Master of Business Administration from Harvard Business School and a Juris Doctorate from Harvard Law School.
  • PHINIA intends to add one additional board member prior to the spin-off.

Fortress Management and Mubadala to Acquire Fortress Investment Group

Retrieved on: 
Monday, May 22, 2023
Asset Management, Professional Services, Finance, Neumark, Slate, Shearman & Sterling, PE, Fortification, Fortress Investment Group, Partner (business rank), Multimedia, Private equity fund, Kirkland & Ellis, Mubadala Investment Company, Skadden, Arps, Slate, Meagher & Flom, SoftBank Group, Goldman Sachs, Investment, Growth, PCV, III, Shearman, Security (finance), Management, Cryptocurrency, Brightline

Fortress Investment Group (“Fortress”) and Mubadala Investment Company, through its wholly owned asset management subsidiary Mubadala Capital (“Mubadala Capital”), today announced that they have entered into definitive agreements to acquire 90.01% of the equity of Fortress that is currently held by SoftBank Group Corp. (“SoftBank”), who have been the owners of Fortress since 2017.

Key Points: 
  • Fortress Investment Group (“Fortress”) and Mubadala Investment Company, through its wholly owned asset management subsidiary Mubadala Capital (“Mubadala Capital”), today announced that they have entered into definitive agreements to acquire 90.01% of the equity of Fortress that is currently held by SoftBank Group Corp. (“SoftBank”), who have been the owners of Fortress since 2017.
  • View the full release here: https://www.businesswire.com/news/home/20230522005259/en/
    After transaction close, Fortress management is expected to own a 30% equity interest in the company and will hold a class of equity entitling Fortress management to appoint a majority of seats on the board.
  • Mubadala Capital (which currently holds a 9.99% stake in Fortress through its Private Equity Funds II and III), will own 70% of Fortress equity.
  • After the closing, Fortress will continue to operate as an independent investment manager under the Fortress brand, with full autonomy over investment processes and decision making, personnel and operations.

TPG to Acquire Angelo Gordon

Retrieved on: 
Monday, May 15, 2023
Banking, Asset Management, Professional Services, Finance, Insurance, HSR, FRE, Wardwell, Partnership, TPG Inc., Shearman & Sterling, Angelo Gordon, Culture, Partner, Morgan Stanley, ID, TPG, LP record, Organization, Philosophy, Entrepreneurship, AUM, Earnout, Knowledge, Growth, Paul, Weiss, Rifkind, Wharton & Garrison, Weil, Gotshal & Manges, Shearman, Real estate, Bank, Management, Cryptocurrency

TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, and Angelo Gordon, a $73 billion1,2 alternative investment firm focused on credit and real estate investing, today announced that the companies have entered into a definitive agreement under which TPG will acquire Angelo Gordon in a cash and equity transaction valued at approximately $2.7 billion, based on TPG Inc.’s share price as of May 12, 2023, including an estimated $970 million in cash and up to 62.5 million common units of the TPG Operating Group and restricted stock units of TPG, in each case, subject to certain adjustments.

Key Points: 
  • TPG Inc. (NASDAQ: TPG), a leading global alternative asset management firm, and Angelo Gordon, a $73 billion1,2 alternative investment firm focused on credit and real estate investing, today announced that the companies have entered into a definitive agreement under which TPG will acquire Angelo Gordon in a cash and equity transaction valued at approximately $2.7 billion, based on TPG Inc.’s share price as of May 12, 2023, including an estimated $970 million in cash and up to 62.5 million common units of the TPG Operating Group and restricted stock units of TPG, in each case, subject to certain adjustments.
  • Similar to TPG, Angelo Gordon has delivered significant and sustained momentum and growth, doubling its AUM over the past five years.
  • The addition of Angelo Gordon marks a significant expansion into credit investing for TPG, establishing additional levers to drive organic growth and further expanding the breadth, diversification, and reach of the TPG platform.
  • On a combined basis, TPG will have meaningful scale with $38 billion1 of collective AUM in real estate across TPG and Angelo Gordon as of December 31, 2022.

VICE Media Group Enters Into Purchase Agreement with Lender Consortium

Retrieved on: 
Monday, May 15, 2023
Dark, ESPN, LLP, Advertising, Bankruptcy, Media Group, Stretto, Shearman & Sterling, Gangs of London, A&E, PJT Partners, Chapter 11, Title 11, United States Code, APA, Refinery29, Generation Z, Dark side, Fortress Investment Group, Vice Media, Target, Delivery, Sale, Houlihan Lokey, AlixPartners, Rock, Elisa Togut, HBO Max, Comedy, United States bankruptcy court, Court, Growth, Showtime, VICE, Vice News, Tell Me Lies, Soros Fund Management, Netflix, American Gladiators, News, Shearman, Hulu, Online shopping, Credit, Security (finance), Agency, Coke

BROOKLYN, N.Y., May 15, 2023 /PRNewswire/ -- VICE Media Group today announced that it has agreed to the terms of an asset purchase agreement ("APA") with a consortium of its lenders (the "Lender Consortium"), pursuant to which the Lender Consortium has agreed to purchase the Company, subject to higher and better bids from other parties and to the terms of the APA. The Lender Consortium includes Fortress Investment Group, Soros Fund Management and Monroe Capital, and has agreed to provide total purchase consideration of approximately $225 million in the form of a credit bid for substantially all of the Company's assets, in addition to the assumption of significant liabilities upon closing.

Key Points: 
  • VICE has also obtained commitments for debtor-in-possession ("DIP") financing from the Lender Consortium, as well as consent to use more than $20 million of cash that constitutes the cash collateral of the Lender Consortium.
  • All of VICE's multi-platform media brands, including VICE, VICE News, VICE TV, VICE Studios, Pulse Films, Virtue, Refinery29 and i-D, will continue to produce and deliver award-winning content across platforms.
  • VICE Media Group is a global multi-platform media company.
  • Gibson, Dunn & Crutcher LLP is serving as legal counsel to the Lender Consortium, and Houlihan Lokey is serving as financial advisor.

U.S. Gold Corp. to Participate at SME's 2023 Annual Current Trends in Mine Finance Conference in May

Retrieved on: 
Wednesday, May 3, 2023
USAU, Miner, SME, Technical Service Council, Keystone, Exploration, Project management, Copper, Gold, Capital, The Company, Conference, St Barbara (company), Shearman, Cryptocurrency

The Company recently issued an update letter that includes the Company's:

Key Points: 
  • The Company recently issued an update letter that includes the Company's:
    Operational update on its flagship CK Gold Project.
  • Anticipation of completion of a feasibility study in Q3 2023.
  • CK Gold Project royalty rate set at 2.1% of net receipts.
  • Advancement of the Company's other exploration assets; Keystone in Nevada and Challis Gold in Idaho.

OpSec Group, a Global Leader in Brand Protection Solutions, to Go Public on Nasdaq Through Proposed Business Combination with Investcorp Europe Acquisition Corp I

Retrieved on: 
Wednesday, April 26, 2023
Online Privacy, Data Management, Security, Technology, Software, Internet, Online, Slate, Credit Suisse, Heart, LLP, Intellectual property, Zacco, Music, Shearman & Sterling, CS, Multimedia, Tobacco, IP, Social media, Operations security, Government, Cayman Islands, Selva, Prospectus, EBITDA, Acquisition, Skadden, Arps, Slate, Meagher & Flom, Engineering, Citigroup, Sport, Growth, Security (finance), Environment, Investcorp, Shearman, Sales, Retail, Online shopping, Video game

OpSec Group, a global leader in brand protection solutions and intellectual property (IP) management, and Investcorp Europe Acquisition Corp I (Nasdaq: IVCB) (“Investcorp Europe”), a special purpose acquisition company, today announced they have entered into a definitive business combination agreement that would result in OpSec Group becoming a public company.

Key Points: 
  • OpSec Group, a global leader in brand protection solutions and intellectual property (IP) management, and Investcorp Europe Acquisition Corp I (Nasdaq: IVCB) (“Investcorp Europe”), a special purpose acquisition company, today announced they have entered into a definitive business combination agreement that would result in OpSec Group becoming a public company.
  • Upon closing of the proposed business combination, the newly combined company will operate as OpSec Group.
  • View the full release here: https://www.businesswire.com/news/home/20230426005421/en/
    OpSec Group is a global leader in the management and protection of brands and intellectual property.
  • On April 18, 2023, OpSec Group acquired Zacco, a leading intellectual property management and protection company, headquartered in Copenhagen, Denmark.

Shearman & Sterling elects Adam S. Hakki as Senior Partner

Retrieved on: 
Thursday, April 6, 2023
Legal, Professional Services, Shearman & Sterling, Fintech, Recruitment, Metal, Health, Lawsuit, Public Citizen Litigation Group, Telecommunications, Chambers, The American Lawyer, Lawyer, Chambers and Partners, Mining, Partnership, Growth, Ageing, Transport, Adam, Shearman, Management

Shearman & Sterling is pleased to announce that, as previewed last month, the partners of the firm have elected Adam S. Hakki as the firm’s Senior Partner and new leader, effective today.

Key Points: 
  • Shearman & Sterling is pleased to announce that, as previewed last month, the partners of the firm have elected Adam S. Hakki as the firm’s Senior Partner and new leader, effective today.
  • Adam is the 17th Senior Partner in the firm’s 150-year history.
  • Adam succeeds David J. Beveridge, who served as the firm’s Senior Partner since 2018.
  • Supported by a strong management and business services team in his role as Senior Partner, Adam will continue to actively represent and advise clients alongside his leadership duties.

ALJ REGIONAL HOLDINGS, INC. ANNOUNCES A SPECIAL STOCKHOLDER MEETING

Retrieved on: 
Tuesday, April 11, 2023
Agreement, Plan, Shearman & Sterling, OTC Markets Group, Regulation D, ALJ, Legislative Reorganization Act of 1970, Shearman, OTC, Special, NewCo, Corporate action, Holding company

NEW YORK, April 11, 2023 /PRNewswire/ -- ALJ Regional Holdings, Inc. (OTC PINK: ALJJ) (the "Company") announced that it will be holding a special meeting (the "Special Meeting") of stockholders on May 10, 2023 at the offices of Shearman & Sterling LLP, located at 1460 EL Camino Real, 2nd Floor, Menlo Park, CA 94025.

Key Points: 
  • NEW YORK, April 11, 2023 /PRNewswire/ -- ALJ Regional Holdings, Inc. (OTC PINK: ALJJ) (the "Company") announced that it will be holding a special meeting (the "Special Meeting") of stockholders on May 10, 2023 at the offices of Shearman & Sterling LLP, located at 1460 EL Camino Real, 2nd Floor, Menlo Park, CA 94025.
  • A proxy statement containing proposals for the Special Meeting will be mailed to the stockholders as of the record date of the Special Meeting, March 31, 2023, on or about April 13, 2023.
  • The Board unanimously recommends that the stockholders vote "FOR" the proposal to approve the Reorganization and "FOR" each of the other proposals to be voted upon at the Special Meeting.
  • The Company encourages all stockholders to read the proxy statement, mailed to all record holders as of the record date and available on the website of OTC Markets at https://www.otcmarkets.com as well as our website at www.aljregionalholdings.com .