Loeb Updates from March and April

Have you heard how Loeb is moving the needle? Loeb’s lawyers are always advising on the latest trends, issues, and legislation to help our clients and communities succeed. Here are some highlights and firm news from the past few months!

• Over the past several months, Loeb’s lawyers have been using Passle to provide their ‘quick takes’ on current trends. See below for a few highlights from March and April:
  
  • Brian Heidelberger, Chair of our Advertising, Marketing and Promotions practice provided his evaluation of how David Beckham and Mark Wahlberg’s lawsuit pertaining to Beckham’s endorsement deal with Wahlberg’s F45 gives us insight into the negotiating and drafting of talent agreements. Click here to read more.
  • David Mallen, Co-Chair of our Advertising Disputes practice and Chair of Retail and Consumer Brands gave his thoughts on the lawsuit filed by New York Attorney General Letitia James against JBS USA Food Company, alleging that the company’s’ claim that it will achieve net zero greenhouse gas emissions by 2040 is misleading to the public. Click here to read more.
  • Giovanni Caruso, a partner in our Capital Markets and Corporate group discusses an advisory firm that settled charges with the U.S. Securities and Exchange Commission in March, the charges alleged that the firm failed to file a Schedule 13D to report the change in its control purpose. The firm did not admit or deny the filings, but agreed to a cease-and-desist order and a $950,000 civil penalty to settle the charges. Click here to read more.

• Loeb represented Ron Burkle, owner of the National Women’s Soccer League (NWSL) team the San Diego Wave FC, in the sale of the San Diego Wave to Lauren Leichtman and her husband Arthur Levine, founding partners of Levine Leichtman Capital Partners. The Wave entered the NWSL in 2022, marking a significant milestone for the league. According to several news outlets, the recent sale of the Wave to the Leitchman family nearly doubles the previous NWSL record sale of $63 million set by the Portland Thorns earlier in 2024. The Loeb team included Brian Socolow, co-chair of the firm’s Sports industry practice; Ronelle Porter, deputy chair of the Capital Markets & Corporate department; and Corporate of counsel Governor Gray Davis, associate Evan Saunders.

• We are thrilled to announce the arrival of seven partners in Loeb’s New York Office in March. Andrew Arsiotis, Stephen Budow, Henry Zangara, Michael Martell, Matthew Friedman and Steven Rockoff joined the firm’s Capital Markets and Corporate department, and Michael Barry has joined the firm’s Advanced Media and Technology department. All new partners joined the firm from Morrison Cohen. 

Arsiotis, Budow and Zangara bring decades of experience handling all manner of complex transactions in the private equity space, representing several well-known private equity funds, as well as financial sponsors, senior debt funds, mezzanine lenders, and hedge funds.  

Where Martell and Friedman focus on mergers, acquisitions, divestitures, recapitalizations, minority investments, general company representation, partnerships and financings, Rockoff focuses his practice on lending and finance for leveraged buy-out and private equity funds, mezzanine lenders, and hedge funds. Michael Barry works with established U.S. and international fashion and luxury brands in all aspects of corporate and commercial matters, and acts as primary outside counsel for the U.S. subsidiaries of his clients, which include many of Europe’s most prestigious brands. 

• Bankruptcy partner Bethany Simmons and associate Noah Weingarten authored an article for Reuters discussing reporting requirements for the Corporate Transparency Act (CTA), which went into effect Jan. 1 2024, as well as whether the act applies to businesses in Chapter 7 bankruptcy. Read the full article here.

• Jessica Lee, Chief Privacy & Security Partner and Chair of Loeb’s Privacy, Security & Data Innovations practice, authored a client alert discussing how recent actions by states and the Federal Trade Commission suggest that 2024 will be an important and decisive year for the implementation and enforcement of new data protection laws. As new state laws impose additional responsibilities on the handlers of sensitive consumer health data, federal enforcement actions are calling out businesses for their misuse of artificial intelligence and new privacy-enhancing technologies. Read the full article here.