Intellectual Property

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.

On September 18, 2023, OMERS Private Equity announced the signing of a definitive agreement to acquire a majority stake in Knight Commercial, a leading provider of commercial restoration services. Cravath is representing OMERS Private Equity in connection with the transaction.

On September 11, 2023, Bacardi Limited (“Bacardi”), the largest privately held international spirits company in the world, announced the completion of a transaction that makes the family‑owned company the sole owner of ILEGAL Mezcal®, a leading super premium artisanal mezcal. Cravath is representing Bacardi in connection with the transaction.

On August 14, 2023, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, managed by DRI Capital Inc., announced that it has purchased a second royalty interest in the worldwide net sales of ORSERDU®, the first approved targeted therapy used in the treatment of postmenopausal women or adult men with advanced or metastatic breast cancer who have experienced disease progression despite prior endocrine therapy. DRI Healthcare entered into a purchase agreement with Radius Pharmaceuticals, Inc., a wholly owned subsidiary of Radius Health, Inc. for an upfront purchase price of $130 million. In addition to running royalties, DRI Healthcare is also entitled to receive milestone payments of up to $40 million on the achievement of sales performance thresholds. Cravath represented DRI Capital Inc. in connection with the transaction.

On August 10, 2023, Forward Air Corporation (“Forward”), a provider of transportation services, and Omni Logistics, LLC (“Omni”), a private logistics and supply chain management company that is majority owned by Ridgemont Equity Partners and EVE Partners, LLC, announced that they have entered into a definitive agreement under which Forward and Omni will combine in a cash-and-stock transaction, creating a combined company that generated approximately $3.7 billion of combined company adjusted revenue for the twelve months ended June 30, 2023. Cravath is representing Forward in connection with the transaction.

On September 19, 2023, Cravath partner David J. Kappos participated in IAM Connect’s SEP Summit 2023, which was held virtually from September 19‑21, 2023. Dave spoke on a panel entitled “The game‑changing European SEP/FRAND draft regulation,” which reviewed the potential impacts of a recent policy proposed in Brussels to create a SEP royalty rate setting body in Europe’s trademark office, including the practical impact on licensors in Europe, how SEP owners will need to adapt and implications for global SEP strategy.

Cravath partner Sasha Rosenthal‑Larrea and associates Daniel M. Barabander and Leslie Liu co‑authored an article entitled “Understanding China’s Crypto‑Blockchain Dichotomy,” which was published to the website of Law360 on September 6, 2023. The article discusses China’s “nuanced and complicated” approach to crypto‑related technology, examining its efforts to restrict cryptocurrency use while supporting blockchain as a complementary technology to real economy sectors.

Cravath partner David J. Kappos, associate Carys J. Webb and Shawn Muma, Director of Supply Chain Innovation and Emerging Technologies for the Center for Global Enterprise’s Digital Supply Chain Institute, co‑authored an article entitled “The Data‑Driven Supply Chain Raises New Data Governance and Security Issues,” which was published in the September/October 2023 issue of Supply Chain Management Review. The article examines the growing role of data sharing in supply chain constellations and recommends that companies embed data governance and security policies in their internal and external supply chain operations.

On August 17, 2023, Cravath’s Evan R. Chesler, David J. Kappos and Faiza J. Saeed were each named 2024 “Lawyers of the Year” for New York City in their respective practice areas by The Best Lawyers in America. Evan was recognized for ERISA Litigation, Dave was recognized for Patent Law and Faiza was recognized for International Mergers and Acquisitions. The awards honor individuals with the highest overall peer feedback for a practice area and within a geographic market.

On June 15, 2023, Cravath partner David J. Kappos spoke at “Science in the City,” an event that is part of Johnson & Johnson Innovation’s JLABS program in New York. Dave spoke on a panel which reviewed the recent landscape of innovation in New York, including how it continues to thrive and some of the unique benefits of innovating in the city.