Credit: Nastudio/Adobe Stock Deal Watch: What Does Biden's Exit Mean for the Deal Market?
While President Joe Biden's decision to step aside has answered some questions, said Freshfields' Paul Tiger, "it's only raised others—who the nominee now might be, his or her ability to beat Trump, what else might happen?"
July 22, 2024 at 04:55 PM
8 minute read
What You Need to Know
- President Joe Biden existing the presidential races stirs unease in the deal markets.
- But many dealmakers say it is too early to make a strong play one way or the other.
As Donald Trump rose in the presidential polls this year and President Joe Biden stumbled, some investors started to make decisions based on what the Trump campaign has said it will do around economic and foreign policy.
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Law Firms Mentioned
- Sidley Austin
- Skadden, Arps, Slate, Meagher & Flom LLP
- Stoel Rives
- Wilmer Cutler Pickering Hale and Dorr LLP
- Cleary Gottlieb Steen & Hamilton
- Clifford Chance
- Ellenoff Grossman And Schole Llp
- Davis Polk & Wardwell
- Kirkland & Ellis
- Paul Hastings
- Orrick, Herrington & Sutcliffe
- Simpson Thacher & Bartlett
- Wilson Sonsini Goodrich & Rosati
- Willkie Farr & Gallagher
- Freshfields Bruckhaus Deringer
- Goodsill Anderson Quinn & Stifel
- Kramer Levin Naftalis & Frankel LLP
- Latham & Watkins
- McDermott Will & Emery
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Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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