In March 2022, Day Pitney completed a transaction in which it represented Iridian Asset Management LLC, an asset management firm based in Westport, CT and its management team (collectively "Iridian"), in connection with the "management buyout" of its founding partners and the firm's asset management business. The Day Pitney team included Investment Management and Private Funds attorneys, along with members of the firm's Mergers and Acquisitions group, consisting of Peter Bilfield, Erik Bergman, Mike Cummings, Paty Durelli, Matthew Carey, and Kimberly Morabito, and was supported by Steve Ziobrowski (Tax), Dan Schwartz (Employment), Mike Byrne (Real Estate), Eliza Fromberg (Broker-Dealer) and Michael Kaufman (Finance).
The team negotiated on behalf of Iridian, all transaction documents, including a term sheet, transaction agreement, various financing and security documents, separation agreements for employees and a portfolio manager and new employment agreements. The Day Pitney tax team assisted with structuring and tax advice in connection with the sale transaction as well as the recapitalization of the client and its affiliate.
The Day Pitney Investment Management and Private Funds team also structured and drafted the terms of new governing agreements for the client, including the development of an executive committee and other management terms, as well as various transfer and sale provisions among the members.
Day Pitney Employment and Labor practice chair Heather Weine Brochin was featured in FIERCE Healthcare's article "FTC Votes 3-2 on Final Rule to Ban Noncompete Agreements, But Legal Challenges Expected."
Day Pitney Employment and Labor practice chair Heather Weine Brochin was featured in Variety's article "FTC Issues Ban on Noncompete Agreements – But Experts Say Rule Will Face Legal Challenges."
Day Pitney Real Estate Partner Steven J. Wernick is featured in RentCafe article "Unlocking Miami-Dade's Housing Potential."
Day Pitney Real Estate Partner Steven J. Wernick is featured in the South Florida Business Journal article "28-Story Tower With Over 100 Apartments Planned in Miami."
Day Pitney Data Privacy, Protection and Litigation chair William Roberts authored an op-ed with CBIA's President and CEO Chris DiPentima titled "Here Are Preemptive Measures to Limit a Cyberattack's Damage to Your Business," for the Hartford Business Journal.
Day Pitney Employment Attorneys James Leva, Howard Fetner and Lindsey Viscomi authored the alert "Employee's Medical Marijuana Termination Claim Goes Up in Smoke," that was published by the Connecticut Business & Industry Association (CBIA).
On April 10, Day Pitney Family Office practice chair R. Scott Beach was a panelist Botoff Consulting's Family Governance Compensation Report webcast alongside Dennis Jaffe (BanyanGlobal Family Business Advisors) and Trish Botoff.
Day Pitney Alert
Copyright © 2024 Day Pitney LLP, all rights reserved.