Equity

Private Equity Eyes Arizona as Hub for Leading National Tort Law Firms

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Phoenix, Arizona – In a significant shift within the legal landscape, private equity is increasingly venturing into the realm of national tort law firms, signaling a transformation in how legal services are funded and delivered in the United States. This movement has sparked a robust discussion regarding the implications for the justice system, particularly concerning the accessibility and quality of legal representation for mass tort litigation. In recent years, private equity firms have sharpened their focus on the legal sector, driven by the potential for substantial returns from high-stakes litigation cases, such as those involving … Read more

Arizona’s Legal Landscape Transformed: Private Equity and Litigation Funders Seize Opportunities in Law Firm Ownership

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Phoenix, AZ — Arizona has become a burgeoning hub for the legal industry following the state’s decision to remove prohibitions against non-lawyers owning law firms. This groundbreaking move has attracted a notable influx of private equity firms and litigation financers keen to capitalize on this newly opened market. The change stems from the elimination of a rule that previously barred non-lawyers from holding ownership stakes in legal practices. Since this change was enacted in 2020, Arizona has approved 76 alternative business structures (ABS), applications, many of which include investments from private equity or litigation finance … Read more

Dramatic 20-Year Family Feud Over Multibillion-Dollar Real Estate Empire Ends in Billions in Damages and Equity Awards

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Los Angeles, CA – In a high-stakes family feud, a Los Angeles court has awarded billions of dollars in damages to four brothers who accused their own sibling of stealing from their multibillion-dollar real estate empire. This courtroom drama, lasting two decades, delivered a final verdict that could rival any Hollywood movie plot. The saga began when Shashikant “Shashi” Jogani, a scion of the diamond trade, settled in Los Angeles in 1969 and ventured into real estate. By 1994, Jogani had amassed a portfolio worth an estimated $375 million, but disaster struck when the Northridge … Read more

Minnesota’s Office of Cannabis Management Urges Lawmakers to Revamp Marijuana Laws for Faster Business Launch and Social Equity Support

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Bloomington, Minnesota – The Minnesota Office of Cannabis Management has urged state lawmakers to make adjustments to marijuana laws during this legislative session to expedite the establishment of cannabis businesses. In their initial report to the Legislature, the agency proposed various specific changes, one of which includes implementing a temporary license system, with a particular focus on aiding social equity applicants. These applicants are individuals who have been impacted by past criminal enforcement of marijuana laws, either directly or indirectly. The report emphasizes that implementing a temporary license system would not only speed up the … Read more