Beyonce Knowles. Credit: Shutterstock.com Another UK Delisting: Latham Leads Line-Up as Apollo-Backed Concord Buys FTSE Music Business for $1.4B
It is another blow for UK capital markets and potentially also for domestic legal advisers whose clients are being bought up by US businesses.
April 19, 2024 at 06:38 AM
3 minute read
Deals and Transactions
A number of top firms including Latham & Watkins, Reed Smith, Shoosmiths, DLA Piper and Ashurst are advising as the U.S.'s Apollo-backed Concord Chorus Group takes private the embattled London Stock Exchange-listed music investor Hipgnosis, in yet another blow to the U.K's premium stock market.
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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.
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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.
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