On February 24, it was announced that AirWatch®, the global leader and innovator in mobile device security and Enterprise Mobile Management (EMM) technology, closed on a $200 million investment led by Willkie client Insight Venture Partners.

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Davis Polk, together with Linklaters, represented the joint administrators of Lehman Brothers International (Europe) (“LBIE”) in connection with the litigation and settlement of $38 billion in claims between LBIE and Lehman Brothers Inc (“LBI”). The Lehman Brothers SIPA case is by far the largest SIPA proceeding on record involving an insolvent broker-dealer. The execution last week by LBIE and LBI of the definitive documentation of the settlement and the filing in the bankruptcy court today of the motion seeking approval of the settlement agreement represents a critical milestone in the Lehman Brothers administration and, subject to court approval, will unlock substantial distributions for creditors who hold tens of billions of dollars in claims.

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Davis Polk advised J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint book-running managers and representatives of the underwriters on an SEC-registered offering by Wyndham Worldwide Corporation of $450 million principal amount of its 2.5% senior unsecured notes due 2018 and $400 million principal amount of its 3.9% senior unsecured notes due 2023.

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Davis Polk is advising Sandler O’Neill + Partners, L.P. as dealer manager for First BanCorp., in connection with the offer by First BanCorp. to exchange up to 10,087,488 newly issued shares of its common stock, par value $0.10, for any and all of its issued and outstanding shares of five series of preferred stock. To participate in the exchange offer, tendering holders of shares of preferred stock must grant a proxy in favor of an amendment to the certificate of designation for the preferred stock. The exchange offer is expected to expire on March 18, 2013.

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