Want to get this daily news briefing by email? Here's the sign-up.

WHAT WE'RE WATCHING

BREAKING UP IS KINDA EASY TO DO - This young year kicked off with confirmation that 130 lawyers have left distributed law firm FisherBroyles to join spinoff Pierson Ferdinand. While the size of the move is staggering, what may be even more surprising is that the split appears to be… amicable? Friendly? How is that even possible? As Law.com's Dan Packel writes in his latest Law Firm Disrupted briefing, "it's worth asking whether the nature of distributed firms allows for these mass exits without acrimony." To support this theory, Packel points to a tweet from legal industry futurist Jordan Furlong, who explained that "FisherBroyles's 'distributed law firm' model was never built or intended to last more than a few years. It's a platform for successful senior lawyers who want to make lots of money with no distractions or responsibilities."

CLINICAL PRECISION - On Dec. 26, 2023, while much of the U.S. was still trying to figure out how to stuff 10 pounds of wrapping paper into a five-pound bag, the U.S. Court of Appeals for the Second Circuit was raising the bar for investors suing companies for securities fraud over statements about clinical studies for products. Basically, the court said investors must provide concrete evidence at the pleadings stage that can objectively prove the falsity of a company's statement about a clinical study. The decision did not go unnoticed by securities litigators, who told Law.com's Avalon Zoppo that, while this particular case was limited to scientific studies and data, the rationale behind the Second Circuit's ruling might apply to broader contexts.

ON THE RADAR - Pomvom Ltd., a technology company that develops experiential content for amusement parks and attractions, is going public through a SPAC merger with Israel Acquisitions Corp. As a result of the merger, Pomvom will be listed on the Tel-Aviv Stock Exchange with a post-transaction equity value of approximately $125 million. Tel Aviv, Israel-based Pomvom was represented by Greenberg Traurig; Carey Olsen; Goldfarb Gross Seligman & Co.; and Barnea Jaffa Lande. The blank check company was advised by Reed Smith and Naschitz Brandes Amir. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.  

EDITOR'S PICKS