The Deal Reports on Madison 92nd Street Bankruptcy
Silverman Handles Acquisition for Alleghany
Represented IZEA, Inc., an Orlando, Florida based social media sponsorship company, in the completion of a $3,560,000 private placement of common stock and warrants. A portion of the offering proceeds represented the conversion of outstanding bridge promissory notes.
Represented GlobalOptions Group, Inc. in its merger with Walker Digital, LLC, which will do business as PatentProperties, Inc. In connection with the merger, the company also completed an $11.6 million PIPE offering of common stock and warrants.
Represented Roth Capital Partners and Monarch Capital Group, the underwriters of a public offering of 1,100,000 shares of common stock of Pioneer Power Solutions, Inc., a manufacturer of specialty electrical transmission and distribution equipment. It will begin trading on the Nasdaq Capital Market under the symbol "PPSI." Pioneer intends to use the proceeds of this offering to repay its outstanding borrowings with Bank of Montreal, with the remaining balance to be used to fund acquisitions and working capital.
Represented Alleghany Capital Corporation, a wholly-owned subsidiary of Alleghany Corporation, in its investment in R.C. Tway Company, LLC, also known as Kentucky Trailer, a manufacturer of custom moving vans and expandable trailers and a fourth generation family-owned company headquartered in Louisville, Kentucky. The team representing the deal was led by Kenneth Silverman of the Corporate group and included Olshan attorneys from the Real Estate, Tax, Employment Practices, Employee Benefits and Intellectual Property groups.
Represented the Vista Group, owners of the JFK DoubleTree, in the re-branding of the hotel to a new flag after partially settling a lawsuit against the trustee holding the hotel’s mortgage, which had alleged a loan default.
Obtained $44 million jury verdict in favor of our client Guidance Endodontics against Dentsply International and Tulsa Dental which was then the largest standing verdict in New Mexico state or federal court history. The case involved breach of an exclusive manufacturing and supply agreement, anti-competitive and unfair business practices under the New Mexico Unfair Trade Practices Act and Lanham Act violations. MORE>>
Obtained summary judgment for a financial institution, dismissing multiple claims by a former employee alleging employment discrimination in violation of Title VII, the Americans with Disabilities Act and the Family Medical Leave Act.
Represented a group of mutual funds in a Delaware appraisal rights proceeding in which a settlement was reached on the eve of trial under which our clients received a 50% premium to the original merger consideration.