Teepoo Riaz

Two New York law firms are helping a luxury retailer make its own high-end purchase. Willkie Farr & Gallagher LLP is representing Hudson's Bay Company (HBC), parent company of Saks Fifth Avenue, in its $2.65bn acquisition of rival retailer Neiman Marcus Group (NMG), parent company of Neiman Marcus and Bergdorf Goodman. Sullivan & Cromwell LLP is acting for longtime client Neiman Marcus on the deal. The Willkie team guiding HBC was led by corporate partners Greg Astrachan, Michael Brandt and Tej Prakash, finance partner Viktor Okasmaa and finance counsel Michael Wolynski.  The Sullivan & Cromwell team included corporate partners Melissa Sawyer and Lauren Boehmke and associates Lisa M. Morales and Charlie Wowk, executive compensation partner Jeannette Bander, finance partner Neal McNight and associate R. Courtland Morrice, tax partners 王瀚之 Wang and Ha Jin (Tessa) Lee, and antitrust partners Renata B. Hesse and Samantha Hynes. Read more in Anne Gallagher’s story. #luxurylaw #retail #mergersandacquisitions #bigdeals https://lnkd.in/g2RgtTEM

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MoFo’s Claudia Vetesi will be speaking at the ACI 12th Annual Legal, Regulatory and Compliance Forum on Dietary Supplements on June 25 in New York. Claudia will participate on the panel session “Ingredient Overages in Dietary Supplements: The Latest Compliance Concerns, Litigation Risks and Best Practices to Ensure Products Contain Declared Values Throughout Shelf-Life.” More details can be found here. https://gag.gl/ksJtHe

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No matter your chosen field, effective leadership makes a big difference in what individuals, groups, and organizations can achieve. Many excellent books, podcasts, and other resources describe attributes of great leaders and offer sage advice on leadership development, often in a general sense. Servant leadership, a more specific paradigm, is about putting others first and approaching relationships and situations from a place of humility and centeredness. In this IPWatchdog, Inc article, I share actionable tips for becoming a servant leader and reaping resulting professional and personal benefits for yourself and others. Although I highlight examples from the IP and legal fields, the tips are applicable to any context. Article link: https://lnkd.in/ea_sKuJR #leadership #servantleadership #professionaldevelopment

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OBERWEIS DAIRY FILES FOR CH.11 BANKRUPTCY PROTECTION; NORTH AURORA COMPANY OWES AT LEAST $4M. Oberweis Dairy, the nearly century-old suburban business known for its milk products and ice cream stores, filed for Chapter 11 bankruptcy protection on Friday, April 12, 2024, according to court documents. -Chapter 11, the type of bankruptcy being sought is often called "reorganization" bankruptcy, which allows an entity to remain in operation while restructuring its finances and debts. -Oberweis operates a total of 43 stores, with the majority in the Chicago area. Its products are sold in several states including Illinois, Indiana, Wisconsin, Ohio, North Carolina and Virginia. -A fourth-generation family business, Oberweis Dairy was founded by Peter J. Oberweis, an Aurora dairy farmer, who began selling leftover milk on the back of a horsedrawn carriage. In 1927, he became co-owner of Big Woods Dairy and later established Oberweis, according to the dairy's website. -Documents filed in U.S. Bankruptcy Court for the Northern District of Illinois showed more than $4 million in debt to the company's top 20 creditors. The list included Penske Truck Company, the food safety company EcoLab and the Cook County Treasurer's Office. READ MORE https://lnkd.in/gj8iHA2d

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Law360 has reported on the Delaware Court of Chancery suit filed by Olshan Frome Wolosky LLP client Martin Siegel, a shareholder of global utility and power company The AES Corp., against eleven of the company’s current and former board members, alleging that the company has "weaponized" advance notice requirements in its bylaws to make it “unreasonably difficult, if not impossible,” for stockholders to nominate candidates for the company’s board. Among the amendments the company made in August 2023 to its bylaws, provisions include an “acting in concert” definition that requires any stockholder who nominates a slate of directors to identify a broad assortment of people in order to make the nomination valid and requiring a nominating stockholder to disclose commercially sensitive performance-related fees it could pay if the value of its company stock appreciates. According to the filing, AES Corp. has stated publicly that it amended its bylaws to address the SEC’s universal proxy card rule that went into effect September 2022, which was intended to make it easier for shareholders to nominate alternative director candidates to company boards but has often resulted in companies adopting onerous advance notice requirements that disenfranchise shareholders. The plaintiff’s motion to expedite asserts that if the Chancery Court does not declare the bylaw provisions invalid before the November 26 deadline to nominate directors for the company’s 2025 stockholders’ meeting, the stockholders' franchise rights will be violated and stockholders will be “permanently harmed.” Olshan Chair of Litigation Lori Marks-Esterman and counsel Jacqueline Ma represent the plaintiff in this matter. #OlshanLaw #Delaware #ChanceryCourt https://lnkd.in/exyWgvr7

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Reading through this, and the comments around it gave rise to a few thoughts: https://lnkd.in/gCVjdgyT 1. The Rule is limited to what happens post-employment, not during the course of employment; 2. The Rule is not yet set in stone - and if the legal challenges are successful, may never be; and 3. Regardless of the Rule, prioritizing compliance with existing laws is crucial to minimize legal risks. There’s no need for panic. By staying informed, complying with regulations, and exploring alternative strategies, you can protect your businesses and thrive in the competitive marketplace. 

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New Ruling on Punitive Damages and Attorney Fees in California Invasion of Privacy Act (CIPA) Case As Thompson Hine has previously reported, the recent surge of privacy claims under the California Invasion of Privacy Act (CIPA) related to using website cookies, pixels, and web beacons continues to impact a several sectors. It has been especially harmful to small businesses. On July 15, Judge Rolf Treu ruled on a preliminary motion in a CIPA lawsuit and concluded that the plaintiff could potentially recover punitive damages and attorney fees. Although this case does not address the merits of whether website tracking technologies are considered pen registers or trap and trace devices under CIPA, plaintiffs may rely on it to demand larger awards and settlements in their CIPA actions. Businesses that deploy these types of online tracking technologies should immediately reassess the legal terms governing the use of their websites and whether they contain favorable dispute resolution provisions, such as remedies available for claims arising from a consumer’s use of the website. View full update here ➡ https://bit.ly/3WjOO3x Steven Stransky I Jennifer Adler #DataPrivacy #PrivacyLaw #ThompsonHine #California

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New York law firm Sullivan & Cromwell LLP said on May 9 that it has formed a new artificial intelligence practice, as large firms compete to handle clients' growing AI-related legal needs. The 800-lawyer firm said the group would be headed by leaders of its intellectual property and finance practices in Silicon Valley, New York and London. Several other large U.S. law firms have also established dedicated AI practice groups over the past year and a half, hoping to capitalize on a surge in AI-related dealmaking, regulatory, and litigation work. Formalizing a practice group can help firms market and expand the work in buzzy, lucrative areas like AI. Find out more: https://reut.rs/44AAG9A 

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Lawyers are the issue spotters in the room. Trained to find where things went or might go wrong. Love this article’s use of the fact that basketball players play 95% of the game without the ball. Issue spotting might just fall in that necessary 5% of business concerns. I often consider which is better: a lawyer learning non-lawyer skills, or a successful non-lawyer then becoming a lawyer and already possessing those skills. Is the “later in life” lawyer less of a lawyer than the “from day one” lawyer? Does any of that have an effect on learning and developing those non-lawyer skills? I feel like I relate better to and with my non-lawyer colleagues because I have been them at one time.

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Consumer Class Actions, now available in its 2024 Eleventh Edition, is a how-to manual for handling every aspect of a class action, designed to be valuable both for small law offices and for established class action firms. The treatise includes practice tips and other contributions from over 20 of the most experienced consumer class action litigators from every part of the country. Learn more. #ProtectConsumers #ConsumerLaw #ClassActions #DigitalLibrary

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What if there was a way for lawyers to ditch the billable-hour model without sacrificing value or profits? ADVOS Pro is teaching law firms to do exactly that with its P3 Method. In this episode of “Spill the Ink,” Reputation Ink's Michelle Calcote King invites ADVOS Pro Co-Founder Whitney Harper to share how her experiences as an attorney and business person shaped the creation of the P3 Method. Here's a glimpse of what you'll learn: - What is ADVOS Pro and the P3 Method - What is involved in the four-module course on applying the P3 Method - How points for the deliverables-based model are calculated - How law firms can break up with the billable model while growing profit margins - The importance of learning how to pitch your legal services - How the solution enables firms to invest in tech and automate tedious processes - Dive into the case study of the success ADVOS legal pllc has had over nearly a decade of using the P3 Method. Listen to the podcast: https://bit.ly/4d0BIzG #ADVOSLearning #ADVOS #ADVOSpodcast #lawpodcast #laweducation #podcast

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What in the world is this American Privacy Rights Act, and what does it mean for advertising?!? Well, it could mean some significant changes. This Digiday article does a quality job of laying out its shifts for the industry.

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Cannabis operators hear "no" more often than not when working with regulators. How many of you are surprised, or even shocked, when you hear "yes?" Interacting with regulators sometimes feels like dealing with Sam Rothstein from Casino. Sometimes they are content to let operators make pragmatic and commerically reasonable decisions when it comes to operating their business. Other times, they will demand that every muffin have the exact same amount of blueberries. Anyone operating in the cannabis industry knows this all too well. And while we may not always like the answer we get, just remember what Sam Rothstein said, "The eye in the sky is watching us all." #cannabisoperators #businessowners #cannabisbusiness #regulators

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A few weeks ago, several outlets reported that Red Lobster was seeking a buyer to avoid bankruptcy. Now, the company has announced that it is auctioning off at least 99 locations. The bridge too far - an all-you-can-eat shrimp promotion that resulted in significant loss for the company. Bankruptcy is still on the table as a tool for the company to address its significant debt load and unfavorable lease terms. #redlobster #bankruptcy #chapter11 #landlord #tenant #commercialleasing #leaserejection #redlobsterliquidation #redlobsterclosure #redlobsterauction

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Dive into the complexities of New Jersey's right of publicity laws in Lowenstein’s Matthew Savare, Jenna-Marie Tracy, and Bryan Sterba’s Q&A guide in Thomson Reuters's Practical Law, which covers everything from protected identities to legal remedies and licensing issues. Read the full article: https://bit.ly/3UjskQm #rightofpublicity #newjersey #intellectualproperty #iplaw #licensing #techlaw

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Nicholas Maxwell, 41, is a partner at Cohen Ziffer Frenchman & McKenna LLP in New York City. In the latest How I Made Partner interview from Law.com, he talks about his career track since graduating from The University of Texas School of Law. Q: When it comes to career planning and navigating inside a law firm, in your opinion, what’s the most common mistake you see other attorneys making? A: "Lack of initiative. If you identify a core of colleagues you enjoy working with, let them know. If there is a particular substantive area that interests you, write an article about it. If you hear the firm has an interesting new matter, research the client online, build some background knowledge on the matter, and before long you will be the expert on a matter you haven’t even been assigned yet." https://lnkd.in/g3iNuBzd

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https://ow.ly/mVo250SxUH2 US Restaurants continue to face challenges with chain closures and bankruptcy. Bernstein-Burkley bankruptcy and restructuring attorneys are prepared to develop and execute a plan of action designed to meet our clients’ goals – regardless of industry or complex circumstances. #BBPC #BBLaw

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