Labaton Sucharow Secures $473 Million Settlement In Case Against Schering-Plough Corporation

Today Labaton Sucharow LLP, along with its co-counsel, announced that it reached a $473 million settlement in In re Schering-Plough Corporation / ENHANCE Securities Litigation. The recovery is the largest securities class action settlement ever against a pharmaceutical company, among the top 25 securities class action settlements of all time, and among the ten largest recoveries ever in a securities class action that did not involve a defendant company restating its earnings. The case was set to start trial on March 4, 2013 in federal court in New Jersey.

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Tags:  Labaton Sucharow LLP | New York

Willkie Assists Facebook in Major IPO-Related Litigation Victory

On February 13, the United States District Court for the Southern District of New York handed down a decision (In re Facebook, Inc. IPO Sec. & Derivative Litig., No. 12-md-2389 (S.D.N.Y. Feb. 13, 2013)), dismissing the shareholder derivative actions that have been brought against Facebook and its Board of Directors in the aftermath of the Company’s May 18 initial public offering. Willkie is serving as co-counsel with Kirkland & Ellis LLP for the Facebook defendants in the Facebook IPO-related litigation.

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Tags:  Willkie Farr & Gallagher LLP | New York

Weil Advises CCMP and Milacron in Acquisition of Mold-Masters

Weil advised CCMP Capital Advisors and its portfolio company Milacron, a global plastics industry leader, in connection with Milacron’s acquisition of Mold-Masters, a leading global hot-runner manufacturer, from private equity firm 3i Group and other shareholders. Under the terms of the transaction, Milacron will acquire 100% of Mold-Masters for an enterprise value of C$975 million.

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Tags:  Weil, Gotshal & Manges, LLP | New York

Simpson Thacher Represents JPMorgan Chase & Co. in $850 Million Preferred Stock Offering

The Firm represented JPMorgan Chase & Co. in connection with a public offering of 34,000,000 Depositary Shares, equivalent to $850 million in aggregate amount, each Depositary Share representing a 1/400th interest in a share of perpetual 5.45% Non-Cumulative Preferred Stock, Series P, of JPMorgan Chase & Co. The underwriters have the right to purchase up to an additional 5,100,000 Depositary Shares at the public offering price within 30 days. The offering closed on February 5, 2013.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Simpson Thacher Represents First Data in Refinancing

Simpson Thacher represented First Data Corporation (“First Data”) in connection with its Rule 144A and Regulation S offering of $785 million aggregate principal amount of 11.25% Senior Notes due 2021. Simpson Thacher also represented First Data in connection with its borrowing of $258 million in aggregate principal amount of incremental term loans due 2018.

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Tags:  Simpson Thacher & Bartlett LLP | New York

Davis Polk Advises Comcast on Its Acquisition of General Electric’s Common Equity Stake in NBCUniversal

Davis Polk is advising Comcast Corporation on its $16.7 billion acquisition of General Electric Company’s 49% common equity stake in the NBCUniversal Media, LLC joint venture. NBCUniversal will also purchase from GE the properties used by NBCUniversal at 30 Rockefeller Plaza and CNBC’s headquarters in Englewood Cliffs, New Jersey for approximately $1.4 billion. The transaction is subject to customary closing conditions and is expected to close by the end of the first quarter of this year.

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Tags:  Davis Polk & Wardwell | New York