3M Litigation Senior Counsel William Childs Joins International Association of Defense Counsel

William ChildsThe International Association of Defense Counsel (IADC) has announced that William Childs, Senior Counsel, Litigation, at 3M Company in St. Paul, Minnesota, has accepted an invitation to join the IADC, the preeminent invitation-only global legal organization for attorneys who represent corporate and insurance interests.

As senior counsel in 3M’s Litigation group, Childs is involved in managing a range of litigation, including respirator/mask and fall protection. He also was part of building the effort to combat fraud in the COVID-19 PPE marketplace.

Based in St. Paul and listed among the Fortune 500, 3M has 950 companies in the corporate family and manufactures more than 60,000 products used in homes, businesses, schools, hospitals and other industries.

Previously, Childs was a partner at Bowman and Brooke LLP in Austin, Texas, working primarily in products liability defense in pharmaceutical, medical device, highway safety, and other products.

Childs received his J.D. from the University of Texas School of Law (with high honors) and his Bachelor of Arts from Macalester College.




Hogan Lovells Boosts London Office With Senior Corporate and Litigation Hires

Global law firm Hogan Lovells has announced a series of strategic hires, boosting its corporate and litigation capabilities in London.

Patrick Sarch will be joining as a partner and will co-head the London M&A practice alongside Ben Higson. He joins from White & Case where he was co-lead of the Corporate practice in London and the firm’s global financial institutions industry group.

A leading figure in the London M&A market, Sarch has worked on many high profile public and private M&A deals in recent years. He advises clients on mergers and acquisitions, corporate finance and capital restructurings, innovative structuring, disclosure issues, securities law and shareholder activism, and is recognised for bringing considerable board and C-suite level experience. Matters he has worked on include the takeover of Cadbury’s by Kraft and the acquisition of the Home Retail Group by Sainsbury’s. He also regularly advises leading corporations and funds, such as the Co-operative Bank, Avon Rubber, Softbank and GSO (an arm of Blackstone).

His appointment builds on a series of recent additions to the M&A and Private Equity groups in London [Ed Harris and Leanne Moezi], US [Adam Brown], Shanghai [Don Williams, Tony Mou and Cheng Xu], Frankfurt [Nikolai Sokolov] and more recently in Paris [Matthieu Grollemund and Hélène Parent] as well as the addition of leading New York Capital Markets partner, Richard Aftanas.

In addition, a team of leading commercial litigators will join the firm’s Band 1 Global and London disputes practice, further building on a significant strength of the firm. Kevin Lloyd, Richard Lawton, Akima Paul Lambert and Ardil Salem will join as partners from Debevoise & Plimpton.

Lloyd is one the most respected and best-known commercial litigators in London. His broad practice encompasses company, accounting, financing, banking, insolvency, contractual, tortious, shareholder, breach of contract and fiduciary disputes. He was instrumental in leading and building Debevoise & Plimpton’s commercial litigation practice. Prior to joining Debevoise, he was one of the busiest leading commercial litigation partners, head of contentious restructuring / insolvency and a board member at Herbert Smith, where he had an extensive practice and led a large team. Prior to that he spent several years in Sydney as a leading litigation partner at Mallesons Stephen Jaques where he became one of the most sought after commercial litigation partners in Australia acting on a large range of matters. Over the years, LLoyd has successfully acted for leading financial institutions and accounting firms, as well as representing clients in large corporate collapses.

Lawton, who has built a well-deserved market profile of his own, specialises in complex cross-border litigation. He has acted for leading FTSE 100 companies, market leading insurance and financial institutions, auditors, other professional advisers, company directors and shareholders. He has particular expertise dealing with claims arising in an insolvency context and has worked on some of the largest and most complex insolvencies, such as the Nortel collapse. He also has a wealth of experience dealing with shareholder and joint venture disputes. Lawton started his career at Herbert Smith before joining Debevoise. Among his notable successes were winning a two-month trial for BAT against Sequana SA, two victories for BAT in the Court of Appeal and a successful reverse summary judgment application for Litasco SA in respect of a claim seeking damages of around US$1.9 billion.

Lambert started her career at Hogan Lovells and has since developed a practice focussing on high-stakes commercial litigation. During her time at Debevoise, she has led on several multijurisdictional matters, including representing BAT on various high-profile litigation matters and more recently, PJSC Tatneft in a 12-week remote trial in the Commercial Court. She also spearheaded the development of a dedicated Caribbean practice. She has experience in commercial and investment treaty arbitration and is dual-qualified in the UK and in the U.S.

Salem’s practice focuses on high-value, complex and multi-jurisdictional commercial litigation. He started his career at Herbert Smith before joining Debevoise. He advises clients on disputes arising from joint ventures, breaches of contract, breaches of fiduciary duty, and fraud, as well as insolvency and restructuring-related work. He has successfully acted for high-profile clients such as BAT, EY and NLMK, and has recently helped lead a team representing Litasco S.A. in its defence of a US $2bn High Court claim.




Barnes & Thornburg Welcomes Prominent Medical Device Litigator

Barnes & Thornburg has added Robyn Maguire as a partner in its Washington, D.C., office, where she is a member of the firm’s Litigation Department. Maguire brings more than 15 years of experience defending major medical device and pharmaceutical companies in product liability suits.

Maguire focuses her practice on lawsuits alleging negligence, failure-to-warn, strict liability design and manufacturing defect, and wrongful death claims concerning the use of orthopedic implants, contraceptive patches, and other drugs and devices. She has deep experience on product defense teams concerning joint replacement implants, as well as the manufacture, distribution, and sale of prescription and over the counter drugs and medical devices.

Maguire also has a highly regarded real estate and land use practice, where she represents individuals and companies in matters concerning eminent domain, commercial landlord/tenant, zoning, and other land use matters, some involving multimillion dollar settlements. Her trial work has been recognized by Massachusetts Lawyers Weekly in its “Top Ten Verdicts” of 2015, 2011 and 2010.

Maguire is active in pro bono, civic, and charitable initiatives, including the submission of amicus briefs to the Supreme Court of the United States and First Circuit Court of Appeals, as well as representation of indigent clients in landlord-tenant disputes with the Boston Housing Authority and of immigrants seeking asylum in the United States. She earned her J.D. from American University Washington College of Law and her B.A. from the University of Michigan.




D Magazine Honors Orsinger, Nelson, Downing & Anderson’s John Kappel Among its Best Lawyers Under 40

John KappelDALLAS – Orsinger, Nelson, Downing & Anderson (ONDA) associate John Kappel has been honored among D Magazine’s Best Lawyers Under 40, a prestigious listing of the top young attorneys in North Texas.

D Magazine’s editorial team selected the 2021 group following nominations by peer lawyers and additional review by a blue-ribbon panel. Kappel joins a handful of attorneys honored for their work in family law out of close to 1,300 young attorneys in Texas.

Kappel’s expertise includes divorce, child custody and property division matters, as well as probate, estate planning and appellate issues. He is a member of the Dallas Bar Association Family Law Section, the Dallas Association of Young Lawyers and the Collin County Young Lawyers Association. He is a graduate of Southern Methodist University Dedman School of Law and earned his undergraduate degree from Baylor University.

Learn more about Kappel.

D Magazine often recognizes ONDA attorneys for their representation of clients in Family Law, including the publication’s annual Best Lawyers in Dallas edition and D CEO’s Dallas 500 listing of the top business leaders in North Texas.

The firm has earned a multitude of additional awards in recent years. For three years running, ONDA has been recognized as having more Top 100 Texas Super Lawyers honorees than any other law firm in a state with more than 100,000 practicing attorneys.




Transactional Insurance Partner, Michael Homison, to Join Sidley in New York

Sidley Austin LLP is pleased to announce that Michael Homison will join the firm as a partner in its New York office. Homison will be a member of its global Insurance practice, and will support clients in a wide range of domestic and international insurance and reinsurance transactions. Previously, Homison was a partner with Skadden, Arps, Slate, Meagher & Flom LLP.

Homison is a go-to lawyer in the insurance transactional space having represented clients in a wide range of significant transactions over the last 15 years, involving life, P&C, and health insurance businesses. He has tremendous M&A experience, including reinsurance M&A transactions, as well as insurance regulatory experience.




IADC First-Quarter 2021 DCJ Examines Oral Civil Discovery, DNA Technology in Litigation, and Enforceability of Arbitration Clauses

The International Association of Defense Counsel (IADC) continues its long tradition of offering in-depth, scholarly analyses of critical issues of law with the first 2021 issue of its prestigious Defense Counsel Journal (DCJ). The new publication, which is available free to its members and the public, includes articles about oral civil discovery, DNA technology in litigation, and enforceability of arbitration clauses.

The new issue comes at a time of unprecedented challenges facing the U.S. government and Constitution, says IADC member and DCJ editor Christopher B. Parkerson: “I am proud of the leadership of IADC’s members to defend the United States Constitution and the rule of law from attack. IADC members have helped lead the effort to strengthen Americans’ understanding and faith in the court systems. Members have fought for justice for all people and have spoken and written about how the legal system lives up to the ideals that all people are equal in the eyes of the law.”

Frequently and favorably cited by courts and other legal scholarship, the DCJ is a quarterly forum for topical and scholarly writings on the law, including its development and reform, as well as on the practice of law in general. DCJ articles are written by members of the IADC, which is a 2,500-member, invitation-only, worldwide organization that serves its members and their clients, as well as the civil justice system and the legal profession.

The IADC’s first-quarter 2021 DCJ is available for free and without a subscription via the IADC’s website at https://www.iadclaw.org/documents/?CategoryId=4.

Following are brief summaries of the articles included in the first-quarter 2021 issue of the DCJ:

The IADC is the preeminent invitation-only global legal organization for attorneys who represent corporate and insurance interests. Founded in 1920, the IADC has members who hail from six continents, 51 countries and territories, and all 50 U.S. states. The core purposes of the IADC are to enhance the development of skills, promote professionalism, and facilitate camaraderie among its members and their clients, as well as the broader civil justice community. For more information, visit www.iadclaw.org.




Kirkland & Ellis Set to Hit $5B Annual Revenue

“Already the world’s highest-grossing law firm, Kirkland & Ellis has seen strong growth across all of its strongest areas,” reports Lawyer Monthly.

“Insiders at the Chicago-based firm said that its turnover was approaching $5 billion for the twelve months to the end of January, up from $4.45 billion in the previous year.”

“Kirkland & Ellis is the largest law firm in the world by revenue and the seventh-largest by number of attorneys. It is also the first law firm to have made $4 billion in annual revenue, a record it is now poised to beat.”

Read the article.




FHFA Announces New General Counsel

“The Federal Housing Finance Agency (FHFA) today announced that Clinton Jones started as the Agency’s new General Counsel. Jones succeeds Alfred Pollard, who is retiring from the Agency at the end of March after a distinguished financial services career,” posted the Federal Housing Finance Agency in their Public Affairs.

“Pollard has been the only General Counsel to serve the Agency since it was formed in 2008 and served as General Counsel to its predecessor, the Office of Federal Housing Enterprise Oversight. He has also served on several presidential mortgage fraud task forces and as a member of the Administrative Conference of the United States. In 2014, Pollard was named by National Law Journal as one of ‘America’s 50 Outstanding General Counsel.'”

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ABA Formal Opinion OKs Lawyers Who Sit in One Jurisdiction But Are Licensed in Another

“The American Bar Association’s (ABA) Formal Ethics Opinion 495 confirms what many have said is the law under ABA Model Rule 5.5 for a while now: Lawyers can sit in a jurisdiction in which they are not licensed so long as they are licensed in a U.S. jurisdiction and are ‘invisible’ as a lawyer where they sit,” posts Nellie Q. Barnard in Holland & Knight’s Insights.

“Still, this confirmation will come as welcome news to many who have either been forced or chosen to relocate outside of their licensed jurisdiction due to the COVID-19 pandemic. The Formal Opinion does caveat that it does not apply to those jurisdictions that have already affirmatively barred such “invisible lawyering,” though it does not identify any such jurisdiction.”

Read the article.




Anthem Agrees to Pay $594M to Settle Antitrust Litigation

“Even for a company as big as Anthem Inc., the nation’s largest marketer of Blue Cross Blue Shield insurance, paying a half-billion-dollar settlement might seem like a painful way to resolve litigation,” reports Greg Andrews and Indianapolis Business Journal Staff in The Indiana Lawyer.

“But some investment analysts and health care observers say changes to Blue Cross Blue Shield rules that are stipulated in the settlement are so favorable to Indianapolis-based Anthem’s growth prospects that they view the deal as a huge win for the company.”

“The settlement, struck last fall and awaiting final approval in an Alabama federal court, resolves lawsuits filed in 2012 by insurance customers alleging the Chicago-based Blue Cross Blue Shield Association and the nation’s 36 Blue Cross and Blue Shield insurers violated antitrust laws through practices that limited competition and caused higher prices. The total settlement is $2.7 billion, with Anthem shouldering $594 million.”

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Ladd Hirsch Joins Bradley’s Litigation Practice Group in Dallas

Ladd HirschBradley Arant Boult Cummings LLP is pleased to announce that Ladd Hirsch has joined the firm’s Dallas office as a partner in the Litigation Practice Group.

Bradley’s Dallas office has tripled in size since it opened in January 2019 and has reinforced the firm’s strengths in its litigation, finance, corporate, fintech and emerging business practice areas. In addition, the firm has grown to more than 50 lawyers located across its offices in Dallas and Houston, and more than 70 lawyers licensed in the state, allowing the firm to handle a wide variety of legal matters for its clients in Texas and beyond.

Hirsch has more than 30 years of experience representing companies and high net worth business clients in complex litigation cases and arbitration matters. He has litigated claims arising in a variety of industries, including real estate, manufacturing, oil and gas, healthcare, construction, technology and insurance. Hirsch focuses a significant amount of his practice on business divorce disputes and related litigation and has tried cases to judgment in state and federal courts across the country. Hirsch has been recognized as one of The Best Lawyers in America®, as well as by D Magazine and Texas Super Lawyers.

Hirsch earned his J.D. (cum laude) from Cornell Law School and his B.J. from the University of Missouri.




Colombian airline, Avianca, adopt Luminance’s AI to enhance in-house legal function

Luminance, the leading artificial intelligence platform for the legal profession, has today announced that its pioneering machine learning platform will be adopted by Avianca S.A, the flagship Colombian airline and one of the biggest in Latin America, to optimise the company’s in-house document review processes.

Avianca’s adoption of Luminance marks the latest in-house customer win for the fast-growing AI company as increasing numbers of legal teams become more tech-savvy, efficient and sophisticated in the projects they undertake in-house. The financial impact of the Covid-19 pandemic has been significant for Avianca due to government-enforced travel restrictions. Avianca is now looking to drive efficiency and boost productivity across their business. In their legal function, using outdated and resource-intensive manual methods to review and manage contracts was a drain on both time and budget. Luminance’s technology will significantly modernise Avianca’s in-house legal department, allowing them to better understand their contractual landscape whilst also bringing much-needed time and cost-savings.

Luminance is the only technology to combine both supervised and unsupervised machine learning to read and form an understanding of documents, meaning that on the very first day of the review, Luminance was able to provide Avianca’s legal team with a comprehensive insight into their dataset, instantly identifying commercial clauses key to their review, such as Termination, Assignment, Confidentiality and Indemnification. The team has been particularly impressed with Luminance’s language-and-jurisdiction agnostic capabilities, allowing them to work seamlessly across English, Spanish and Portuguese documents. Luminance’s supervised machine learning has helped to increase review efficiency and ensure no small detail goes unnoticed: for instance, by tagging one example of a ‘Proveedor’ (provider) party in Spanish, Luminance instantly exposed five other similar examples present across the data set.

Avianca measured a 90% time saving in their first use of Luminance, completing their first 1,000-document review in just three hours. Avianca is now looking to use Luminance to manage and review over 30,000 documents, including supplier contracts, non-disclosure agreements and employment contracts.

Daniel Felipe Morales Martinez, Contract Manager at Avianca, comments: “In troubling economic times, investing in AI technology has never been more crucial to the success of our business, allowing us to cut costs and save valuable time. But more fundamentally, Luminance will allow our in-house team to have more control over our internal legal processes. This means we no longer have to rely on external counsel for complex reviews but can instead keep the work in-house.”

Luminance’s General Manager, Eleanor Weaver, adds, “We are very excited to welcome Avianca as our latest customer. The Covid-19 pandemic and the subsequent economic fallout has placed increased pressure on businesses to drive efficiency where it matters. Luminance’s ability to highlight key clauses and risks enables firms to respond quickly and decisively to legal challenges.”

Founded by mathematicians from the University of Cambridge in 2015, Luminance is now used by 300 law firms and organisations worldwide, including all of the ‘Big Four’ and over one-fifth of the ‘Global Top 100’ law firms.




Ball Janik LLP Welcomes New Attorneys Kasey Joyce, Morgan Lester, and Allana Smith to the Firm’s Orlando Office

Ball Janik LLP, a construction defect and property damage law firm with offices in Florida and Oregon, is pleased to announce the addition of Kasey Lynne Joyce, Morgan N. Lester, and Allana D.E. Smith as associates to the firm. The three attorneys will work in the firm’s Construction Defect and Litigation groups, as part of Ball Janik’s continued growth and commitment to its clients.

Joyce previously interned with the Office of the General Counsel for the Hillsborough County Aviation Authority and also completed an externship with the Middle District of Florida, wherein she served the Honorable Charlene E. Honeywell, the Honorable Roberta A. Colton, and the Honorable Amanda A. Sansone. Additionally, she served as a legal extern at the Office of the General Counsel for Shands Hospital. Joyce is a published author and most recently authored an article in The Florida Journal of International Law entitled “The Legal and Practical Framework for Psychiatric Diagnoses as Bases for Requests for Euthanasia and Physician Assisted Suicide in the Netherlands”. Joyce earned her bachelor’s degree, cum laude, from the University of Florida and her law degree from the University of Florida Levin College of Law. She is proficient in Russian and conversational in French.

Lester comes from a family with multi-generational ties to the construction industry. Inspired by her family’s hard work and exposure to the complex issues in residential and commercial real estate development, she formed an early interest in helping people navigate legal issues in this industry and dedicated her studies to becoming an attorney. The first in her family to earn a bachelor’s degree and attend law school, Lester served as a law clerk and paralegal for various firms in Central Florida. She also spent time as the communications editor of the Florida Law Review. Lester earned her bachelor’s degree in Legal Studies from the University of Central Florida and her law degree from the University of Florida Levin College of Law.

Smith grew up watching her mother practice law in Ohio. She previously served as a law clerk and legal intern for various law firms in Central Florida and Ohio, where she gained experience and knowledge in insurance defense. Smith earned her bachelor’s degree in Criminal Justice studies and Psychology from the University of Dayton and her law degree from the University of Florida Levin College of Law. During law school, she interned at the Ohio Supreme Court where she worked alongside Chief Justice Maureen O’Connor, the Ohio Senate, and the Ohio House of Representatives on correcting Ohio’s bail policies. Smith is certified by the Florida Supreme Court in county court mediation.




Joanna Brougher Authors Second Book “Billion Dollar Patents: Strategies for Finding Opportunities, Generating Value, and Protecting Your Inventions”

BioPharma Law Group, PLLC is pleased to announce that its Principal, Joanna T. Brougher, MPH, Esq., has published her newest book, Billion Dollar Patents: Strategies for Finding Opportunities, Generating Value, and Protecting Your Inventions.

Billion Dollar Patents explains the current patent environment and covers the ins and outs of what it takes to build a strong patent portfolio that will generate revenue and keep competitors at bay.

The book’s author, Joanna Brougher, is an Adjunct Professor at Cornell Law School and is the past Editor-in-Chief of the Journal of Commercial Biotechnology.




Hanzo Hold Revolutionizes Discovery for Google Workspace (G Suite) with New Release

Hanzo, a company known for its pioneering technology in dynamic web content preservation from enterprise collaboration applications and complex websites, today announced the beta release of Hanzo Hold for Google Workspace (G Suite) with select customers, with general availability in April. Hanzo brings best-in-class discovery insights and delivers a purpose-built ediscovery and investigation tool that solves key unresolved challenges with existing market solutions.

Most organizations have an overwhelming volume of data in Google Workspace. Hanzo Hold makes it easy to manage data discovery and investigations efficiently and cost-effectively with these features.

— Easy-to-use interface controls both Google Workspace and Slack: One interface controlling collaborative tools, data preservation and data collection.

— Google Vault control: Easily connect to Google Workspace with a better user experience for Google Vault allowing Legal Ops to issue holds and perform collections through Hanzo Hold.

— Targeted data collections: Reduce overall collection sizes by precisely defining custodians (users) and their data by using visual tools such as Google Drive Explorer along with date filters. Users can select the exact Drive information they need to collect from any custodian down to the individual file level.

— Enhanced file metadata: Hanzo provides visibility to extended metadata beyond what is available via Google Vault, thereby providing better search capabilities once a file is collected.

— Full data indexing and search capabilities: File searching comes to life in Hanzo with full text and metadata available creating more precise search returns. Provides greater search depth than Google Search/Vault alone giving users more accurate and complete search results.

— View file versions and history: View file history and previous versions to access more file information. Provides more accuracy and better granular control over document versioning and user edit history.

— File tagging: Organize data and have more control over data within the system and greater accuracy when exporting information.

— Review ready exports: Exports complete with full metadata, native files, and text virtually eliminate the need to index data inside review platforms such as Relativity saving complexity, time, and money.

“Hanzo Hold for Google Workspace is born from customers requesting easy-to-use solutions for managing discovery for both Google Workspace and Slack collaboration data,” said Senior Product Manager, Dave Ruel. “ Through Hanzo Hold, we’re providing enterprises one interface to control the data preservation and collection of these collaborative platforms and we’re providing customers solutions to simplify the unique challenges of dynamic, complex data sources — saving time, training costs, and the need for multiple systems.”

Learn More

Learn more about the challenges of collaboration data discovery in a CLE-eligible educational session hosted by Hanzo during Legalweek(year) 2021 on Thursday, February 4th at 1:15 PM EST. The session, titled, It’s A Brave New World—Map Your Course For Managing Discovery With Collaboration Data, features speakers Andrew Amoranto, Senior Paralegal Manager, Twitter; Graham Rollins, Discovery Counsel, Capital One; and

Stacey Blaustein, Counsel, Corporate Litigation, IBM Corporation. Moderator, Brad Harris, VP of Product, Hanzo will lead the CLE session, panelists will explore the challenges posed by collaboration applications, and how corporate legal professionals are developing and implementing forward-thinking strategies to navigate those complexities.




Highlights of the Section 45Q Final Regulations

“On January 6, 2021, the IRS issued T.D. 9944 (the “Final Regulations”), which finalizes the proposed regulations under section 45Q (the “Proposed Regulations”) that were issued in REG-112339-19 on May 28, 2020 and discussed in an earlier post. This article summarizes the key ways in which the Final Regulations differ from their predecessor,” reports Judy Kwok in Mintz’ Insights Center.

“The Final Regulations, as with the Proposed Regulations, contain numerous concepts that are roughly transposed, with some innovations, from the section 45 production tax credit (“PTC”) and the section 48 investment tax credit (“ITC”). The highlights of the Final Regulations, as they relate to these broadly applicable concepts, are listed” in the article.

Read the article.




Jones Day Hires Homeland Security Lawyer… Doesn’t Mention Kidnapped Immigrant Children

“Chad Mizelle was recently the Acting General Counsel of the Department of Homeland Security,” writes Joe Patrice in Above the Law’s Biglaw.

“Entirely unsurprisingly, Mizelle slipped into the firm his wife just vacated with an of counsel title and an opportunity to pretend that every career stain of the last administration never happened.”

“Some of the ‘complicated legal issues’ he failed to successfully navigate involved his former bosses Chad Wolf and Ken Cuccinelli, the DHS ‘officials’ that Trump appointed to head the agency despite a clear legal framework that prevented this. Mizelle’s job was to make the case that Trump could staff the agency with anyone he wanted and the GAO kicked the claim to the curb after, you know, researching it. This prompted Mizelle to respond the way any professional attorney would… by throwing a tantrum and personally insulting the GAO lawyers.”

Read the article.




Tech Industry Litigation – A COVID-19 Year in Review

“As the COVID-19 pandemic continues to wreak havoc on businesses across the country, several companies have thrived during the pandemic in areas such as the gig economy, work from home and e-commerce, entertainment, and social media. Litigation has followed success in many of these instances. The following is a representative sample of strong-performing companies that have experienced increased federal litigation during the pandemic in each of the aforementioned categories,” reports Kirsten Errick in Law Street’s Insights.

“The ‘gig economy,’ according to Investopedia, “is based on flexible, temporary, or freelance jobs, often involving connecting with clients or customers through an online platform.” Examples include Uber and Uber Eats, Lyft, DoorDash, GrubHub, and Postmates. During the COVID-19 pandemic, these companies have faced COVID-19 related litigation, such as cases over driver misclassification and employment benefits. These companies have grown as people sought private rides over public transportation and food deliveries expanded as indoor dining shut down.”

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Robinhood and Reddit Protected from Lawsuits by User Agreement

“Robinhood Markets Inc’s user agreement is likely to protect the brokerage app from a barrage of lawsuits filed by customers after it blocked a frenzied trading rally in companies such as GameStop Corp that was fueled on social media forums,” discusses Tom Hals in Reuters’ Retail.

“The owners of internet platforms where much of the discussion took place are likewise shielded from liability for users’ activity under a 25-year-old law known as Section 230.”

“At least a dozen proposed class action lawsuits accuse Robinhood of breaching its contract with customers when it restricted trading on Thursday.”

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Sale of Portfolio Companies Between Affiliated Funds: The (Legal) Road Less Traveled

“From time to time, private equity sponsors will exit a portfolio company investment by selling the portfolio company to buyers led by another fund managed by the same sponsor. Because the sponsor is essentially on both sides of the transaction, the sponsor must carefully consider and fairly address the customary business and legal issues arising in a typical private mergers and acquisitions (M&A) transaction. This note suggests a streamlined legal process that offers efficiencies of cost and timing, while still ensuring fairness to the investors in both the seller and buyer funds,” report Eitan Tabak and Abbe L. Dienstag in Kramer Levin’s Perspectives.

“At the outset, it should be noted that there is no shortcut to financial fairness, particularly a fair price for the asset. Achieving fair pricing of an interfund transaction is of special concern because of the sponsor’s control of both the buyer and the seller. The conflict should be addressed by outside fairness analyses and price negotiation conducted by independent committees of investors of the buy- and sell-side funds, generally outside the influence of the sponsor. It would be preferable for each of the funds to be separately advised and to receive its own fairness opinion. However, it may be possible to obtain a dual fairness opinion from a single adviser that has no relationship with either of the funds, or at least has not been preferentially engaged by one or the other of the funds.”

Read the article.