BakerHostetler

BakerHostetler Unveils Revolutionary Estate Planning Fintech Application in Private Wealth Law

Retrieved on: 
Tuesday, February 27, 2024
Software, Banking, Accounting, Professional Services, Fintech, Data Management, Apps, Applications, Technology, Asset Management, Data Analytics, Legal, Finance, BakerHostetler, Multimedia

BakerHostetler announces the launch of its proprietary breakthrough fintech application, FinClar (short for financial clarity), a cutting-edge tool developed in-house to elevate the client experience in family legacy management.

Key Points: 
  • BakerHostetler announces the launch of its proprietary breakthrough fintech application, FinClar (short for financial clarity), a cutting-edge tool developed in-house to elevate the client experience in family legacy management.
  • FinClar is the result of a collaborative vision to provide successful families with an unparalleled, modern and client-centric approach, departing from the common estate planning experience.
  • View the full release here: https://www.businesswire.com/news/home/20240226106521/en/
    FinClar was designed with our clients’ interests in mind.
  • Our mission is to transform the way clients approach legacy management by putting their needs and expectations at the forefront.

Fifteenth Pro Rata Interim Distribution of Recovered Funds to Madoff Claims Holders Commences; Totals More Than $78 Million

Retrieved on: 
Friday, February 23, 2024
BakerHostetler, Securities Investor Protection Corporation, Trustee, AlixPartners, SIPC, SIPA, Charles Ponzi, Madoff investment scandal

NEW YORK and WASHINGTON, Feb. 23, 2024 /PRNewswire/ -- Irving H. Picard, Securities Investor Protection Act (SIPA) Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS), announced that the fifteenth pro rata interim distribution from the Customer Fund to eligible BLMIS customers commenced today.

Key Points: 
  • The SIPA Trustee is distributing more than $78 million on a pro rata basis to BLMIS account holders with allowed claims.
  • The fifteenth interim distribution represents 0.419 percent of each allowed claim and will be paid on claims relating to 773 accounts.
  • The fifteenth pro rata interim distribution was reached as a result of settlements and litigation since the last interim distribution in February 2023.
  • Of these 2,290 accounts, 1,521 with claims up to $1.731 million will be fully satisfied following the fifteenth interim distribution.

Attorney for Former FirstEnergy CEO Chuck Jones Issues Statement Regarding Mr. Jones’ Indictment

Retrieved on: 
Monday, February 12, 2024
Energy, Other Energy, Utilities, Oil, Gas, Court of Common Pleas, News, Lawyer, Court, Trust, FirstEnergy, BakerHostetler

Carole Rendon, an attorney for former FirstEnergy chief executive Chuck Jones, issued a statement in response to the news that Mr. Jones has been indicted in the Summit County Court of Common Pleas.

Key Points: 
  • Carole Rendon, an attorney for former FirstEnergy chief executive Chuck Jones, issued a statement in response to the news that Mr. Jones has been indicted in the Summit County Court of Common Pleas.
  • Ms. Rendon, formerly U.S. Attorney for the Northern District of Ohio, is a partner with BakerHostetler.
  • Her statement reads as follows:
    “For more than three years, a false and unfair narrative has surrounded Chuck Jones and other current and former employees of FirstEnergy, the company to which Mr. Jones devoted his entire 42-year career.
  • Mr. Jones will comply with the Court’s directives and will appear for his arraignment at 1:00 PM tomorrow, February 13, 2024.

Bloomberg Law Will Spotlight Key Platform Enhancements and Content at Legalweek

Retrieved on: 
Monday, January 22, 2024
Microsoft, BakerHostetler, AI, Analyser, Investment, Bloomberg Law, Practice, Lawsuit, Machine learning, News, Medical device

ARLINGTON, Va. , Jan. 22, 2024 /PRNewswire/ -- Bloomberg Law today announced that it will highlight the latest enhancements to its comprehensive legal research platform as well as its AI-powered Bloomberg Law Contract Solutions offering at Legalweek, taking place from January 29-February 1 at the New York Hilton Midtown.

Key Points: 
  • ARLINGTON, Va. , Jan. 22, 2024 /PRNewswire/ -- Bloomberg Law today announced that it will highlight the latest enhancements to its comprehensive legal research platform as well as its AI-powered Bloomberg Law Contract Solutions offering at Legalweek, taking place from January 29-February 1 at the New York Hilton Midtown.
  • Bloomberg Law will spotlight new and enhanced features and content, including:
    Bloomberg Law Dockets, which delivers complete coverage of all federal courts, expansive coverage of state courts, rapid alerts, and powerful search technology.
  • Bloomberg Law Contract Solutions, a standalone product designed to solve the most pressing contract challenges for in-house counsel.
  • Bloomberg Law Contract Solutions features a secure centralized repository, seamless integration with Microsoft Word, advanced analysis tools, and AI-powered extraction of key contractual terms.

Relativity Announces its Third Annual AI Visionaries List

Retrieved on: 
Monday, January 22, 2024
Fortune 500, ALSP, CIO, Bayer Corporation, BakerHostetler, AI

CHICAGO, Jan. 22, 2024 /PRNewswire/ -- Relativity, a global legal technology company, today announced its annual list of AI Visionaries. The list recognizes and celebrates individuals who have explored, promoted or experimented with AI in novel ways in legal applications.

Key Points: 
  • CHICAGO, Jan. 22, 2024 /PRNewswire/ -- Relativity , a global legal technology company, today announced its annual list of AI Visionaries .
  • The list recognizes and celebrates individuals who have explored, promoted or experimented with AI in novel ways in legal applications.
  • The AI Visionaries' accomplishments have laid the groundwork for an inspirational, AI-fueled future, and we look forward to celebrating them."
  • Spotlighting leaders from Fortune 500 companies and top Am Law firms, the 2024 AI Visionaries list features those who have experimented with AI technologies prior to recent increased industry adoption and encouraged the use of AI both within their organization and outside of it.

Relativity Announces its Third Annual AI Visionaries List

Retrieved on: 
Monday, January 22, 2024
Fortune 500, ALSP, CIO, Bayer Corporation, BakerHostetler, AI

CHICAGO, Jan. 22, 2024 /PRNewswire/ -- Relativity, a global legal technology company, today announced its annual list of AI Visionaries. The list recognizes and celebrates individuals who have explored, promoted or experimented with AI in novel ways in legal applications.

Key Points: 
  • CHICAGO, Jan. 22, 2024 /PRNewswire/ -- Relativity , a global legal technology company, today announced its annual list of AI Visionaries .
  • The list recognizes and celebrates individuals who have explored, promoted or experimented with AI in novel ways in legal applications.
  • The AI Visionaries' accomplishments have laid the groundwork for an inspirational, AI-fueled future, and we look forward to celebrating them."
  • Spotlighting leaders from Fortune 500 companies and top Am Law firms, the 2024 AI Visionaries list features those who have experimented with AI technologies prior to recent increased industry adoption and encouraged the use of AI both within their organization and outside of it.

Surge Private Equity Closes Investment into Coastal Amusements

Retrieved on: 
Friday, December 8, 2023
Professional Services, Finance, Growth, Partnership, Surge, BakerHostetler

On December 1st, 2023, Dallas-based Surge Private Equity, LLC (“Surge”) closed an investment into Coastal Amusements, Inc. (“Coastal” or the “Company”), a leading designer, manufacturer, and importer of coin-operated ticket and prize redemption games headquartered in New Jersey.

Key Points: 
  • On December 1st, 2023, Dallas-based Surge Private Equity, LLC (“Surge”) closed an investment into Coastal Amusements, Inc. (“Coastal” or the “Company”), a leading designer, manufacturer, and importer of coin-operated ticket and prize redemption games headquartered in New Jersey.
  • CoView Capital , a Manhattan-based investment bank, acted as sole advisor to Coastal.
  • Through this investment, Surge aims to leverage Coastal’s expertise and market position to capitalize on the growing demand for engaging and interactive entertainment experiences.
  • "We look forward to this partnership with Coastal to help guide the Company to its next phase of growth.

Madoff Trustee Requests Allocation of More Than $66 Million to Customer Fund and Court Approval to Distribute More Than $45 Million to BLMIS Customers with Allowed Claims

Retrieved on: 
Friday, December 8, 2023
United States bankruptcy court, Distribution, Securities Investor Protection Corporation, AlixPartners, CGM, History, BakerHostetler, EST, SIPA, SIPC, Hearing, Madoff investment scandal, Motion, Bankruptcy, Music, Cryptocurrency, Insurance, Charles Ponzi, Bernie Madoff

"They have the full support of SIPC as well as our thanks for their commitment and accomplishments."

Key Points: 
  • "They have the full support of SIPC as well as our thanks for their commitment and accomplishments."
  • "Our legal team under David Sheehan continues to achieve judicial victories on behalf of Madoff claimants with allowed claims.
  • The aggregate amount distributed to eligible BLMIS customers will total approximately $14.43 billion, including approximately $849.9 million in advances committed by SIPC.
  • The Fifteenth Customer Fund Allocation and Distribution Motion can be found on the United States Bankruptcy Court's website at http://www.nysb.uscourts.gov/ ; Bankr.

TJC Announces Sale of Communications & Power Industries’ (“CPI”) Electron Device Business to TransDigm Group

Retrieved on: 
Thursday, November 9, 2023
Finance, Hardware, Engineering, Professional Services, Technology, Aerospace, Semiconductor, Manufacturing, CPI International, Vacuum, Sale, Goldman Sachs, NYSE, TransDigm Group, TDG, Communication, CPI, Kirkland & Ellis, BakerHostetler, Electron, EDB, Growth, LLP, TJC, Video game, Risk management

TJC, L.P. (“TJC”) today announced that an affiliate of The Resolute Fund V, L.P. (“Resolute V”) has entered into a definitive agreement to sell CPI’s Electron Device business (“EDB” or the “Company”), a business segment of Communications & Power Industries (“CPI”), to TransDigm Group Inc. (NYSE: TDG) for approximately $1.385 billion in cash.

Key Points: 
  • TJC, L.P. (“TJC”) today announced that an affiliate of The Resolute Fund V, L.P. (“Resolute V”) has entered into a definitive agreement to sell CPI’s Electron Device business (“EDB” or the “Company”), a business segment of Communications & Power Industries (“CPI”), to TransDigm Group Inc. (NYSE: TDG) for approximately $1.385 billion in cash.
  • CPI was acquired by TJC in October 2022 through an affiliate of The Resolute Fund V, L.P.
    CPI’s Electron Device business is a leading global supplier of high-power microwave components, critical to enabling high-reliability technologies vital to national interests.
  • The Company maintains 75+ sole-source platform positions on mission-critical applications for global defense and high-performance industrial, medical and scientific customers.
  • “With its focus on the aerospace, defense and medical industries and its strength in aftermarket products, we believe TransDigm will provide an excellent home for the Electron Device business.

Vivid Seats Announces Acquisition of Vegas.com

Retrieved on: 
Tuesday, November 7, 2023
Vivid, LLP, Acquisition, VEGAS.com, BakerHostetler, Travel

CHICAGO, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (NASDAQ: SEAT) (“Vivid Seats”), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, today announced its acquisition of Vegas.com, the leading entertainment marketplace for consumers exploring Las Vegas, in a cash and stock transaction valued at approximately $240 million1.

Key Points: 
  • CHICAGO, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (NASDAQ: SEAT) (“Vivid Seats”), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, today announced its acquisition of Vegas.com, the leading entertainment marketplace for consumers exploring Las Vegas, in a cash and stock transaction valued at approximately $240 million1.
  • “We are thrilled to announce the acquisition of this strategic asset that will enhance our scale and reach in the entertainment capital of the U.S. and beyond,” said Stan Chia, Vivid Seats CEO.
  • BakerHostetler served as Vivid Seats’ legal advisor.
  • 1 Approximately $151.2 million in cash and $88.8 million in shares of Vivid Seats’ Class A common stock.