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WHAT WE'RE WATCHING

PRIVACY PLEASE – Axiom has scrapped plans for an IPO, and a private equity firm has taken a majority stake in the longtime alternative legal services provider, Patrick Smith reports. David Pierce, Axiom's senior vice president, said European private equity firm Permira provided the best option after the company conducted due diligence following an IPO application filed in February. Permira in 2014 purchased a controlling share in LegalZoom for $200 million.

SLOW GOING – A pair of federal judges in D.C. appointed by President Trump seem to be taking their sweet time in deciding whether House Democrats can get their hands on his tax returns. Jacqueline Thomsen reports that Judge Trevor McFadden has rejected Democrats' request to fast-track their lawsuit seeking Trump's federal tax returns from the Treasury Department. Meanwhile, Judge Carl Nichols will have overseen a lawsuit surrounding Trump's New York tax returns for several weeks by the time he reaches a decision about where the case should even be held. New York AG Letitia James is trying to get the case dismissed for lack of subject matter jurisdiction.

TECH UNSAVVY – If true, this is neither A nor I. Charles Toutant reports that a former employee of e-discovery firm Hanzo Archives claims in a whistleblower suit that the company, which touted an online investigative product that could perform supercharged digital investigations using "powerful algorithms to search and analyze mountains of online data," was instead having employees do the work manually. The ex-worker claims that the company decided to start selling that product around November 2018, when it had "no functioning artificial intelligence platform, nor any algorithms capable of analyzing any data, much less mountains of data."

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EDITOR'S PICKS

What's New? Top 10 Law Schools Offer Fresh Courses, Clinics and Programs

US Bank Shares What Makes Its 25-Year Legal Operations Arm Successful

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WHILE YOU WERE SLEEPING

SHIFTING? With Saudi Arabia ramping up its efforts to diversify its revenue stream and lessen its dependence on oil, lawyers working in the region say the market is abuzz with interest over its move to open up to foreign direct investment. Hannah Roberts reports that the release of restrictions, some partners say, could result in an increased level of competition between businesses located in Dubai—the long-established financial hub of the region—and Riyadh, as multinational companies eye fresh opportunities.

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WHAT YOU SAID

"If you do not genuinely care about people or you do not think about how you can help others, you cannot leverage your network to develop business."

—  LAURIE STEMPLER, PARTNER AT DESMARAIS IN NEW YORK, ON THE KEY TO SUCCESSFUL BUSINESS DEVELOPMENT.

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