PRESS RELEASE
McDermott Advises the Shareholders of Allolio&Konrad on the Sale of Allolio&Konrad to Ericsson
February 10, 2017
Read time: 3 min
Düsseldorf, February 10, 2017 – International law firm McDermott Will & Emery advised the shareholders of Allolio&Konrad on its sale to the Swedish telecommunications company Ericsson. Allolio&Konrad is a consulting firm with headquarters in Bonn, Germany and is focused on transformation programs in the telecommunications industry. Allolio&Konrad also provides strategic consulting services.
McDermott Will & Emery Advisory Team (Düsseldorf): Dr. Jan Hückel (Corporate Law/M&A), Bettina Holzberger (Employment Law)
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, DC. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.
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McDermott Advises the Insolvency Administrator of UNISTER on the Sale of Online Portal www.news.de
PRESS RELEASE
McDermott Advises the Insolvency Administrator of UNISTER on the Sale of Online Portal www.news.de
February 7, 2017
Read time: 3 min
Düsseldorf (February 7, 2017) – International law firm McDermott Will & Emery advises insolvency administrator, Professor Dr. Lucas F. Flöther, on the sale of UNISTER´s portal www.news.de to a Mittelstand family company. The purchaser already operates a broad spectrum of information service offerings, including a number of newspapers and journals. In addition, the purchaser has ownership interests in a number of radio stations and in a number of digital offerings.
The trademarks and the information technology structure were also sold as part of the sale, which includes the entire operational business. The creditors` committee has already agreed to the sale. The terms of the purchase price are confidential.
The team from McDermott was led by Düsseldorf partner Dr. Uwe Goetker, who represented the insolvency administrator last year in the sale of UNISTER´s travel business to the Czech company Rockaway and the sale of the online platforms www.shopping.de and www.preisvergleich.de.
Team Representing the Insolvency Administrator: Professor Dr. Lucas F. Flöther, Andreas Wissing, Hendrik Engelmann und Dr. Katharina Gelbrich
McDermott Advisers to the Insolvency Administrator: Dr. Uwe Goetker (M&A/Insolvency Law; Team Leader), Dr. Jan Hückel (M&A), Philipp Kutscher (M&A/Insolvency Law, Düsseldorf), Dr. Wolfgang von Frentz, Dr. Christian Masch und Dr. Oliver Fischer (Intellectual Property, Munich).
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, DC. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.
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McDermott Advises UNISTER Insolvency Administrators on the Sale of the Online Portal www.preisvergleich.de to GET AG
PRESS RELEASE
McDermott Advises UNISTER Insolvency Administrators on the Sale of the Online Portal www.preisvergleich.de to GET AG
February 6, 2017
Read time: 2 min
McDermott Will & Emery advised insolvency administrator Prof. Dr. Lucas F. Flöther on the sale of the portal www.preisvergleich.de of the UNISTER Group to GET AG. GET AG is an information service provider based in Leipzig, which will take over the 13 employees of the online portal and keep its headquarters in Leipzig.
The full press release is in German.
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District Court Dismisses Securities Fraud Suit Against Former Hanger CEO
PRESS RELEASE
District Court Dismisses Securities Fraud Suit Against Former Hanger CEO
January 26, 2017
Read time: 3 min
Schulte represented the former CEO of Hanger Inc. in securing the dismissal of a securities fraud class action in which he was named as a defendant. The case arose out of numerous announcements by Hanger that its financial information spanning more than five years was no longer reliable and would be restated due to numerous accounting errors, which the plaintiffs alleged were caused by inappropriate actions taken by the former CEO and other Hanger officers. On Jan. 26, 2017, Judge Samuel Sparks of the U.S. District Court for the Western District of Texas dismissed the action against all defendants, with prejudice.
Schulte joined the suit after the plaintiffs filed their Third Amended Complaint, which alleged that Hanger’s pre-tax income for a five-and-half-year period was overstated by $95 million, and included more than a dozen pages of scienter allegations. The court dismissed the complaint for failure to adequately allege scienter. The plaintiffs have filed a Notice of Appeal, and Schulte will continue to represent the former CEO in seeking to affirm his dismissal from the action, if necessary.
This dismissal with prejudice is the second victory for our client. In December 2016, SEC’s Division of Enforcement closed an investigation into both Hanger and our client that arose out of the same circumstances as the securities fraud class action — despite the fact that Hanger’s restatement of five years’-worth of financial statements has not yet been completed.
The Schulte team who achieved this victory was led by litigation partners Charles Clark and Howard Schiffman, and included associate Jason Mitchell and former Schulte lawyer Bayard Brown.
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Schulte Roth & Zabel Presents the 26th Annual Private Investment Funds Seminar
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McDermott Advised Evonik Industries AG on $3.8 billion Acquisition of Specialty Additives Business of Air Products and Chemicals, Inc.
PRESS RELEASE
McDermott Advised Evonik Industries AG on $3.8 billion Acquisition of Specialty Additives Business of Air Products and Chemicals, Inc.
January 10, 2017
Read time: 4 min
NEW YORK (January 10, 2017) – International law firm McDermott Will & Emery represented the leading specialty chemicals company Evonik Industries AG in its acquisition of the worldwide Performance Materials Division of Air Products and Chemicals, Inc. for $3.8 billion. The transaction, initially announced on May 6, 2016, was successfully completed on January 3, 2017.
McDermott advised Evonik as lead outside counsel on all key aspects of the transaction, which Evonik has said will put Evonik in an excellent position for further profitable growth in the attractive specialty additives market.
McDermott’s core deal team consisted of US partners Thomas Sauermilch, Brian Hoffmann, Elissa Port, Meir Lewittes and Ling Kong (Corporate); Diane Morgenthaler, Maureen O’Brien and Steve Erf (Employee Benefits/Employment); Daphne Trotter (Environmental); Raymond Jacobsen, Joel Grosberg, Andrea Hamilton and William Diaz (Antitrust); Ankur Gupta (Real Estate), Daniel Zucker (Tax) and Carey Jordan (IP) and involved numerous other specialists in McDermott’s offices worldwide.
“We’re pleased to have been working with our client Evonik in this high-profile strategic acquisition,” said Mr. Sauermilch, a New York partner who has led a number of large cross-border M&A deals involving European companies. “It highlights McDermott’s ability to field a large international deal team covering all key facets of a large cross-border transaction,” he added.
McDermott’s M&A practice combines its market knowledge and deal execution skills to help clients achieve their transactional strategies. Many of our clients’ deals have a cross-border dimension. With offices located in Asia, Europe and the United States, we have the ability to represent clients’ transactional needs globally regardless of jurisdiction. Moreover, we possess deep industry knowledge in key markets, including energy, telecommunications, media and technology, chemicals, aerospace and defense, mining and metals, life sciences, food and beverage, and health care. What distinguishes McDermott’s M&A capabilities is our team work and comprehensive transactional offering – regulatory and antitrust, environmental, tax, labor and employment, intellectual property, financing and, when necessary, litigation – with those services provided by highly recognized and ranked lawyers.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, DC. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.
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Schulte Lawyers Author New Edition of Insider Trading Law and Compliance Answer Book
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Schulte Lawyers Author New Edition of Insider Trading Law and Compliance Answer Book
January 2017
Read time: 4 min
Schulte lawyers have collaborated to update and expand Insider Trading Law and Compliance Answer Book 2017, a book published by Practising Law Institute. This easy-to-use, comprehensive treatise offers an explanation of both the basics and complexities of insider trading laws.
Written in a clear, succinct question-and-answer format, this new edition fully integrates recent litigation and regulatory changes and provides a step-by-step understanding of the legal requirements imposed upon all investors. Insider Trading Law and Compliance Answer Book 2017 walks readers through the reach of insider trading laws, the specifics that must be proved in court, the available defenses, the penalties, the current approaches taken by the SEC and the Department of Justice to insider trading violations, and the best compliance policies and procedures for firms to enact to minimize the chances of a violation. The expanded 2017 edition has a new chapter that covers insider trading law in the United Kingdom, including the types of securities covered, the elements of insider trading, “tipper-tippee” liability, territorial scope, defenses and penalties.
Insider Trading Law and Compliance Answer Book 2017 serves as a reference for investors, corporate insiders, professional traders, investment advisers, broker-dealers and other participants in the securities industry, as well as for the lawyers who advise and represent them. In today’s financial markets, a claim of insider trading often hits the newspapers, and this timely and practical treatise is a concise road map to help readers safely navigate the major legal regulatory requirements related to insider trading.
Litigation partner Harry Davis served as editor and authored several chapters of the book. Additional chapter authors include litigation partners Eric Bensky, Charles Clark, Howard Godnick, William Gussman, Jr., Marcy Ressler Harris, Taleah Jennings, David Momborquette, Martin Perschetz, Howard Schiffman, Gary Stein, Michael Swartz, Robert Ward and Peter White, lawyer Betty Santangelo and special counsel Michael Cutini and Jeffrey Robertson; business reorganization partner Adam Harris; investment management and regulatory & compliance partners Marc Elovitz and Anna Maleva-Otto; M&A and securities partners Eleazer Klein and Marc Weingarten; and former Schulte lawyer Alan R. Glickman.
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McDermott Advises H.I.G. Capital on its Acquisition of Symplicity Corporation
PRESS RELEASE
McDermott Advises H.I.G. Capital on its Acquisition of Symplicity Corporation
September 30, 2016
Read time: 4 min
Chicago (September 30, 2016) – International law firm McDermott Will & Emery represented H.I.G. Capital, a leading private equity investment team, in its acquisition of Symplicity Corporation, a leading provider of SaaS-based solutions to employers, government agencies, colleges and graduate school programs.
H.I.G. Capital is a global private equity investment firm with over $20 billion of equity capital under management.
Headquartered in Arlington, Virginia, Symplicity sells SaaS-based solutions to over 1,200 colleges and graduate school programs that help manage all aspects of a student’s life on campus.
McDermott also handled the structuring, negotiation, documentation and execution of a senior secured term loan and revolving credit facilities with Goldman Sachs Specialty Lending Group, L.P., as administrative agent, collateral agent, lead arranger, syndication agent and documentation agent.
The McDermott team included lawyers from the Firm’s corporate, tax, finance, employment, health, IP, white collar, antitrust, trial and government strategies practices, including Brooks Gruemmer (corporate), Robert Clagg (corporate), Daniel Zucker (tax), Maureen O’Brien (employee benefits), Kristin Michaels (trial), Joshua Buchman (white collar & securities defense), Jennifer Mikulina (IP), Sarah Hogan (health), Carla Hine (antitrust) and James Kim (government strategies).
The McDermott finance team was led by corporate partners Stephanie McCann and Kathy Schumacher.
McDermott’s Corporate & Transactional Practice represents business interests around the world, from global corporations and industry-leading companies to privately funded and entrepreneurial driven enterprises, as well as the financial institutions that support them. McDermott consistently ranks in the leading league tables, including Mergermarket, Thomson Reuters, Bloomberg and PitchBook. The Corporate & Transactional Practice Group was named “Team of the Year” for Middle Market M&A/Buyouts by The Legal 500 and is highly ranked in the United States, Germany and the United Kingdom by various Chambers.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, D.C. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.
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McDermott Named “North American Tax Firm of the Year” at International Tax Review’s Americas Tax Awards 2016
PRESS RELEASE
McDermott Named “North American Tax Firm of the Year” at International Tax Review’s Americas Tax Awards 2016
September 19, 2016
Read time: 4 min
NEW YORK (September 19, 2016) – International Law Firm McDermott Will & Emery LLP was named “North American Tax Firm of the Year” at International Tax Review’s Americas Tax Awards 2016. The awards were presented at a ceremony held on September 15, in New York. The Americas Tax Awards recognize the most outstanding provision of tax services in North and South America, in particular those which break new legal grounds and set market precedents.
Additionally, Jane May, head of McDermott’s State and Local Tax group, was honored as Americas Indirect Tax Practice Leader of the Year. This honor is awarded to the lawyer who most demonstrates an outstanding record of achievement at leading their team in complex innovative tax work for clients, and developing their firm’s practice in the area of state and local tax.
The Firm also received the honors of four other prestigious awards: Americas Tax Firm of the Year, North America Indirect Tax Firm of the Year, Americas Consumer Products Tax Deal of the Year, and Chicago Tax Firm of the Year.
“We are exceptionally proud to have been recognized with such prestigious honors at this year’s Americas Awards,” said McDermott co-chairs Jeffrey E. Stone and Peter J. Sacripanti. “These honors confirm our commitment to excellence and unceasing dedication to client service.”
Overall, McDermott was nominated in 14 categories, varying across a wide spectrum of tax law across the Americas. Attending the ceremony and accepting these awards on behalf of the firm were partners Jane May, John Lutz and Mike Fayhee.
McDermott Will & Emery’s Tax Practice Group includes more than 250 lawyers practicing in the areas of US and international taxation, estate and gift taxation, state and local taxation, and employee benefits. Among this group of exceptional lawyers is our US & International Tax group, comprised of 100 lawyers in the US, Europe and Asia, who provide counsel in all areas of taxation to a wide range of public and private multinational companies with operations in more than 70 countries. They assist with mergers and acquisitions, domestic and international tax planning, internal restructurings, transfer pricing, controversies, joint ventures, legislative matters and compliance.
McDermott was named “Tax Law Firm of the Year” in the 2016 “Best Law Firms” survey published by U.S. News Media Group and Best Lawyers. This is the second time in four years that the Firm has received this prestigious recognition. McDermott was also named “Law Firm of the Year in Tax Litigation” in 2014, “Law Firm of the Year in Tax Law” in 2013 and “Law Firm of the Year in Employee Benefits” in 2012, all in the Best Law Firms rankings published by U.S. News Media Group and Best Lawyers.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, DC. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.
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McDermott Will & Emery Advises Barnet Europe W. Barnet GmbH & Co. KG on the Sale of its Polymer Business to Albis Plastic GmbH
PRESS RELEASE
McDermott Will & Emery Advises Barnet Europe W. Barnet GmbH & Co. KG on the Sale of its Polymer Business to Albis Plastic GmbH
September 12, 2016
Read time: 2 min
This press release is only available in German, please click here to read the release in German.