Four Decades for Justice
Cravath has long advised clients in the professional services industry. This experience enhances our already extensive litigation and corporate resume with a nuanced understanding of professionals’ advisory, litigation, investigatory and regulatory needs. Whether on behalf of accounting firms, investment banks, law firms or management consultants, Cravath attorneys bring the Firm’s full resources to bear on the range of legal matters affecting these clients.
Our litigators have significant experience handling regulatory enforcement matters and all types of litigation facing firms in this industry, including direct client claims, such as professional malpractice, breach of contract, and aiding and abetting breach of fiduciary duty, as well as investor claims, such as securities fraud class actions. In addition, we represent professional firms in connection with internal corporate and government investigations, and advise on transactions in the professional services sector, including mergers, divestitures and financings.
Our litigators have significant experience handling regulatory enforcement matters and all types of litigation facing firms in this industry, including direct client claims, such as professional malpractice, breach of contract, and aiding and abetting breach of fiduciary duty, as well as investor claims, such as securities fraud class actions. In addition, we represent professional firms in connection with internal corporate and government investigations, and advise on transactions in the professional services sector, including mergers, divestitures and financings.
Deals & Cases
December 20, 2023
On December 20, 2023, Aon plc (“Aon”), a leading global professional services firm, announced the signing of a definitive agreement to acquire NFP, a leading middle‑market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, from funds affiliated with NFP’s main capital sponsor, Madison Dearborn Partners, and funds affiliated with HPS Investment Partners. Under the terms of the transaction, Aon will acquire NFP for a total consideration estimated to be $13.4 billion at the time of close, which will be funded by $7 billion of cash and $6.4 billion of Aon stock. Cravath is representing Aon in connection with the transaction.
Deals & Cases
November 13, 2023
On November 9, 2023, Altus Group Limited (“Altus Group”), a leading provider of asset and fund intelligence for commercial restate, announced it has signed a definitive agreement to acquire the commercial real estate valuation and advisory services business of Situs Group LLC (a SitusAMC Company) for $225 million in cash. Cravath is representing Altus Group in connection with the transaction.
Deals & Cases
September 19, 2023
On September 19, 2023, affiliates of private investment firm Lindsay Goldberg, in partnership with the company’s management, announced the completion of an investment in The Kleinfelder Group, a leading engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm. Cravath is representing Lindsay Goldberg in connection with the transaction.
Deals & Cases
August 31, 2023
Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with a $1.3 billion term loan facility made available to Broadridge Financial Solutions, Inc., a leading provider of investor communications, technology‑driven solutions and data and analytics to the financial services industry. The transaction closed on August 17, 2023.
Deals & Cases
August 16, 2023
Cravath represented the underwriters in connection with the $2.15 billion registered senior notes offering of Concentrix Corporation, a leading global provider of customer experience solutions and technology. Proceeds of the offering will be used to fund part of the cash consideration payable by Concentrix in connection with its pending acquisition of Marnix Lux SA, the indirect parent company of Webhelp SAS. The transaction closed on August 2, 2023.
Activities & Publications
January 11, 2024
On January 11, 2024, Cravath partner Jennifer S. Leete participated in “Audit Committees, Special Committees and Internal Investigations 2024,” a program presented by the Practising Law Institute in New York. Jennifer spoke on a panel entitled “Regulatory and Financial Reporting Developments – What Audit Committee and Special Committee Members Need to Know,” which reviewed the recent trends and developments regarding financial reporting concerns impacting audit committees and how auditing professionals should prepare for and integrate these changes from the Public Company Accounting Oversight Board’s perspective.
Deals & Cases
December 20, 2023
On December 20, 2023, Aon plc (“Aon”), a leading global professional services firm, announced the signing of a definitive agreement to acquire NFP, a leading middle‑market property and casualty broker, benefits consultant, wealth manager and retirement plan advisor, from funds affiliated with NFP’s main capital sponsor, Madison Dearborn Partners, and funds affiliated with HPS Investment Partners. Under the terms of the transaction, Aon will acquire NFP for a total consideration estimated to be $13.4 billion at the time of close, which will be funded by $7 billion of cash and $6.4 billion of Aon stock. Cravath is representing Aon in connection with the transaction.
Deals & Cases
November 13, 2023
On November 9, 2023, Altus Group Limited (“Altus Group”), a leading provider of asset and fund intelligence for commercial restate, announced it has signed a definitive agreement to acquire the commercial real estate valuation and advisory services business of Situs Group LLC (a SitusAMC Company) for $225 million in cash. Cravath is representing Altus Group in connection with the transaction.
Deals & Cases
September 19, 2023
On September 19, 2023, affiliates of private investment firm Lindsay Goldberg, in partnership with the company’s management, announced the completion of an investment in The Kleinfelder Group, a leading engineering, design, construction management, construction materials inspection and testing, and environmental professional services firm. Cravath is representing Lindsay Goldberg in connection with the transaction.
Deals & Cases
August 31, 2023
Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with a $1.3 billion term loan facility made available to Broadridge Financial Solutions, Inc., a leading provider of investor communications, technology‑driven solutions and data and analytics to the financial services industry. The transaction closed on August 17, 2023.
Deals & Cases
August 16, 2023
Cravath represented the underwriters in connection with the $2.15 billion registered senior notes offering of Concentrix Corporation, a leading global provider of customer experience solutions and technology. Proceeds of the offering will be used to fund part of the cash consideration payable by Concentrix in connection with its pending acquisition of Marnix Lux SA, the indirect parent company of Webhelp SAS. The transaction closed on August 2, 2023.
Activities & Publications
January 11, 2024
On January 11, 2024, Cravath partner Jennifer S. Leete participated in “Audit Committees, Special Committees and Internal Investigations 2024,” a program presented by the Practising Law Institute in New York. Jennifer spoke on a panel entitled “Regulatory and Financial Reporting Developments – What Audit Committee and Special Committee Members Need to Know,” which reviewed the recent trends and developments regarding financial reporting concerns impacting audit committees and how auditing professionals should prepare for and integrate these changes from the Public Company Accounting Oversight Board’s perspective.
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