Yesterday, Patton Boggs LLP and Squire Sanders announced that the two firms would merge to form Squire Patton Boggs, a firm that will employ 1,600 attorneys in “45 offices in 21 countries around the world.” This merger will place Squire Patton Boggs as one of the 25 largest firms in the world.
Apple, Inc. v. Samsung Electronics Company: Two Giants Go Head to Head in the Courtroom
After a four-week-long trial accusing Samsung Electronics Company (“Samsung”) of infringing on Apple, Inc.’s (“Apple”) patents for its smartphones, Apple is seeking an order to ban various models of Samsung smartphones from being sold in the U.S.
Consumers v. Big Business Part II: Comcast and Time Warner Cable
In the telecommunication consolidation arena, Comcast’s offer to buy Time Warner Cable (“TWC”), leads the charge for mega-mergers. As with the recently announced AT&T and DirecTV merger, consumers fear the effects of such a merger on the quality and cost of TV and Internet services, while pro-business groups view the merger as a win for business. As Comcast-TWC awaits regulatory approval, consumer advocacy groups are trying to stop the merger while many speculate about the effects the merger will have on the telecommunications market.
Secondary Private Equity Investments on the Rise
The rising stock market has increased corporate valuation of companies. This surge has given the secondary private equity market a new life. According to Bloomberg Private Equity M&A database, secondary private equity transactions year-to-date stood at $25.6 billion with a total of 97 deals. Prior to this, the highest activity for secondary private equity market was in 2007 with $114.7 billion in deal value for 316 deals; whereas the lowest activity was in 2009 with $4.1 billion for 82 deals. The private equity market has been criticized as illiquid but now it can sell quickly with only modest discounts to net asset value (NAV).
Consumers v. Big Business Part I: AT&T and DirecTV
In what appears to be the year of telecommunication consolidations, AT&T has just joined the race to becoming the country’s largest Internet and TV provider by announcing a bid for DirecTV. Such a merger—marrying the largest U.S. wireless company and the largest U.S. satellite television provider—would propel AT&T to the No. 2 spot in the telecommunications arena, behind a combined Comcast and Time Warner Cable (“TWC”), for which a merger is still pending. This deal, if approved, has been commended by some as a win for business in the United States, while condemned by others as a loss for consumers.
Bolivia: New Investment Law Brings Debate Over Arbitration and Conciliation (Part 3 of 3)
ARBITRATION AND CONCILIATION
Some critics say that the dispositions of the new investment law bring more questions than legal certainty to foreign investors. First, the law mentions that all renegotiated treaties concerning foreign investments shall meet the standards of the Bolivian Constitution and the new investment law. Implicitly, this means that the Bolivian legislature intends to emphasize that the Bilateral Investment Treaty (BIT) will be renegotiated one way or another by the Bolivian state and/or other countries.
Bolivia: New Investment Law Brings Debate Over Arbitration and Conciliation (Part 2 of 3)
IMF EXECUTIVE BOARD CONCLUDES 2013 ARTICLE IV CONSULTATION WITH BOLIVIA
On January 27, 2014, the Executive Board of the International Monetary Fund concluded the 2013 Article IV consultation with Bolivia.
Bolivia: New Investment Law Brings Debate Over Arbitration and Conciliation (Part 1 of 3)
Over the years, Bolivia has been known as the focal point of political and economic instability, and although it still remains South America’s poorest country, much has changed.
Delaware Supreme Court Endorses “Fee-Shifting” Bylaw in Certified Question of Law
On May 8, 2014, the Delaware Supreme Court provided an en banc answer to a certified question of law from the U.S. District Court for the District of Delaware captioned ATP Tour, Inc. v. Deutscher Tennis Bund, concluding that fee-shifting provisions in the bylaws of a Delaware corporation are facially valid under Delaware law and enforceable even against parties who joined the corporation before the bylaw was adopted. Although this opinion arose in the context of a non-stock corporation, as discussed below, the opinion is relevant to traditional stock corporations as well. Further, the court acknowledged that the bylaw would not necessarily be rendered unenforceable as an equitable matter if adopted with the “intent to deter litigation.”
Read the rest of the WSGR report here.
European Court Rejects UK’s Financial Transaction Tax Challenge
U.K.’s challenge to the proposed financial transaction tax (FTT), while recognizing that the U.K.’s challenge was precautionary — and possibly premature.