Ele Klein spoke with Governance Intelligence about the US Securities and Exchange Commission’s proposal to rescind Rule 14a-8 and what the change could mean for shareholder activism.

Ele noted that eliminating the current federal process could lead to fewer shareholder proposals overall, as investors would need to weigh the additional time and expense of navigating state law and company-specific governing documents.

“I think you would see far fewer shareholder proposals overall,” Ele said. “There will still be important issues where proponents are willing to spend the money and go through a more involved process, but the simple, relatively inexpensive Rule 14a-8 route would no longer be available.”

He added that shareholders would likely become more selective, pursuing proposals on issues they consider significant enough to justify the additional costs and procedural requirements.

Read the full article in Governance Intelligence.

In a keynote interview with Buyouts, Frank Steinherr, partner and global co-head of private equity, discusses today’s selective deal environment.

He breaks down key drivers for exit success, what buyers are looking for from an operations standpoint, and the legal issues sellers should focus on to prepare for a smoother exit.

Read the full interview

Partners Philipp Grenzebach, Stéphane Dionnet, Sabine Naugès and Raminta Dereskeviciute co-authored a Competition Policy International article examining how Europe’s defense investment boom is reshaping the regulatory landscape for transactions in the sector.

The authors discuss how increased defense spending, technological innovation and efforts to strengthen European industrial capacity are creating opportunities for private capital, while bringing competition law, foreign investment screening, export controls and sanctions increasingly into focus.

They explain why regulatory strategy should be considered from the outset of a transaction, including its potential impact on deal structure, execution certainty, post-closing integration, valuation and exit strategy.

Read the full Competition Policy International article.

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In an IFC Review article, “From Hedge Fund to Alternatives Platform: How US Managers Are Pursuing Growth And Stability,” Peter Naismith and Peter Greene describe how US hedge fund managers are increasingly building diversified alternative asset platforms in pursuit of greater scale, stability and long-term growth.

While hedge fund industry capital has reached record levels, fundraising remains challenging, and investor demand is increasingly concentrated among larger, established managers. Against that backdrop, Peter and Peter explore how managers are rethinking their businesses and developing more stable capital structures, including customized managed accounts and fund of one vehicles, seed and GP-stake transactions, and strategic partnerships, evergreen funds and other forms of permanent capital vehicle.

The article also considers the continued rise of multi-strategy platforms and their influence on fee structures, talent practices and strategy diversification. It examines the importance of talent retention, and managers’ growing focus on the private wealth channel as a source of future growth.

Read the full article here.

Lindsey Reighard joined the GrowthDX podcast to discuss what founders, operators and investors should consider before, during and after a healthcare transaction.

Drawing on her work with private equity sponsors and portfolio companies, Lindsey discussed what makes healthcare M&A uniquely complex, including the regulatory considerations that can affect deal structure, timing and diligence. She also shared perspectives on preparing a business for sale, evaluating the right private equity partner, governance and rollover considerations, and the importance of integration in buy-and-build strategies.

Listen to the full episode here.

Does the add-back under Section 8b of the German Corporate Income Tax Act apply where dividends, capital gains or value write-ups form part of the profits of a foreign permanent establishment that are exempt under a double tax treaty?

In their latest case note in IWB No. 17, Dr. Dirk Pohl and Annette Keller critically examine the final judgment of the Münster Fiscal Court dated June 23, 2026. They explain why the non-deductible business expenses deemed to arise under Section 8b KStG form part of the permanent establishment profits exempt under the applicable double tax treaty, meaning that the add-back should not apply, contrary to the Münster Fiscal Court’s view. They also outline the practical implications for affected companies.

Read the full (German) article here.

In a recent Law360 Healthcare Authority article, Kyle Faget discusses what Oura’s planned $2.5 billion IPO — potentially the first digital health IPO of 2026 — signals about the industry’s trajectory after several rocky years.

Kyle described the space as having gone through a period of “recalibration” following the pandemic-era investment surge, as companies and investors worked out which technologies were built to last versus which were short-lived trends. She said the current wave of renewed interest reflects genuine, consumer-driven demand for products that are proving durable rather than a repeat of earlier hype. Kyle added that she doesn’t expect Oura’s IPO to be an isolated event, pointing to active conversations with drugmakers and other healthcare companies looking to build complementary digital health offerings, and said she wouldn’t be surprised to see another major digital health IPO by the end of this year or in the first quarter of next.

Reuters’ Checkpoint News recently featured Shawn O’Brien’s insights on the IRS’s newly created Office of Conservation Easements, which centralizes the agency’s handling of the more than 1,100 conservation easement cases pending in the US Tax Court and under examination. The new office replaces the uniform settlement initiative the IRS rolled out in May, and Shawn said the shift may reflect limited taxpayer uptake of that earlier offer.

Shawn, whose practice advises investor partners on settlement decisions, said the office’s biggest opportunity is to speed up how quickly settlements are finalized once a taxpayer agrees to terms. He noted that taxpayers have faced waits of up to two years for the IRS to calculate and issue a final bill after a settlement, all while interest continues to accrue, calling the delay “ridiculous.” He also said the office should proactively flag options like an IRC § 6603 deposit, which lets taxpayers stop interest from running on a potential liability while a dispute is pending, something he noted the IRS’s May settlement terms didn’t explain. Shawn added that he hopes the office broadens taxpayer eligibility for settlement and moves away from generic, computer-generated correspondence in favor of more tailored communication.

Bloomberg Law recently featured Shawn O’Brien’s insights on why conservation easement lawyers see reason for optimism even after taxpayers lost seven straight cases in federal courts, and on the IRS’s decision to establish a new office devoted solely to these disputes while abandoning its bulk settlement strategy.

Shawn said the IRS’s shift toward a new, dedicated office likely reflects the agency’s own read on the results of its prior settlement offers, noting the IRS probably wasn’t seeing the acceptance levels it expected. He also cautioned against reading too much into the government’s recent winning streak, explaining that the IRS tends to push cases with favorable facts toward a decision first, then use the resulting case law against other taxpayers still litigating their own disputes.

In an article for the New York Law Journal, Scott Weinberg examines how mortgage lenders can use protective advances to safeguard their collateral when borrowers fail to meet obligations such as paying real estate taxes, maintaining insurance or making necessary repairs.

Scott discusses the circumstances in which these expenditures may become part of the debt secured by a mortgage, including how the terms of the mortgage and the purpose of the expenditure can affect recoverability. He also highlights practical considerations for lenders, including careful drafting, documenting the need for an advance and, in uncertain circumstances, considering advance judicial approval.

Sam Horowitz assisted in the preparation of the article.

Read the full article in the New York Law Journal.