By Peter Bariso

Special Counsel | Corporate

By Lauren Russo

Associate | Corporate

On June 27, 2024, in Matrix Parent, Inc., et al. v. Audax Management Company, et al., the Delaware Superior Court denied Audax’s motion to dismiss, allowing to proceed H.I.G. Capital’s fraud claims in connection with its March 2022 purchase of a majority stake in Mobileum, Inc. from a holding company controlled by Audax.

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By Richard Rowe

Special Counsel | Corporate

By Erin Ward

Law Clerk | Corporate

On June 21, 2024, the U.S. Department of Treasury (“Treasury”) issued a notice of proposed rulemaking (“Proposed Rule”) that would regulate certain U.S. transactions with persons of a country of concern involved in the semiconductor and microelectronics, quantum information technology and artificial intelligence (AI) sectors, as authorized by Executive Order 14105 (“EO 14105”).  The Proposed Rule maintains the two-tiered regulatory framework announced in the advance notice of proposed rulemaking released in August 2023 that would prohibit entirely some transactions and require notification to the Department of the Treasury for others.  Given its scope, the Proposed Rule has the potential to impact U.S. investors, including investment funds, in their investment decisions and approach to deal diligence generally.

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By Bilal Sayyed

Counsel | Antitrust

The United States District Court for the Northern District of Texas (Dallas Division) has issued a preliminary injunction in favor of a plaintiff challenging the Federal Trade Commission’s (the “FTC” or the “Commission”) adoption and enforcement of a final rule prohibiting the use or enforcement of non-compete clauses in most employment agreements (the “Rule”).

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