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Week Ahead in Mergers & Acquisitions: June 28, 2021

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(Reuters) - Here are some upcoming events of interest to the M&A law community. Unless otherwise noted, all times are local, and court appearances are virtual due to the COVID-19 pandemic.

Monday, June 28

12:00 p.m. - The American Bar Association will host a webinar called “Meet the Enforcers with Commissioner Reiko Aoki," where Japan Fair Trade Commissioner Reiko Aoki will discuss recent trends related to merger control and companies that abuse their position during the bargaining process. The event will be moderated by Ninette Dodoo of Freshfields Bruckhaus Deringer and Duy Pham of the Hong Kong Competition Commission. For more information, click here.

Tuesday, June 29

1 p.m. - Brazilian-American investment firm 3G Capital Inc, Kraft Heinz Co's controlling shareholder, will urge Vice Chancellor Lori Will to dismiss a derivative suit brought by the food giant's minority investors. The suit accused 3G and Kraft Heinz executives of promoting "cost-cutting" measures that caused the business to decline after H.J. Heinz Co and Kraft Foods Group Inc's $46 billion merger. 3G and the named board members have denied wrongdoing.

The case is In Re Kraft Heinz Co Derivative, Delaware Court of Chancery, No. 2019-0587. For plaintiffs: Eduard Korsinsky and Gregory Nespole of Levi & Korsinsky; Jeffrey Abraham and Mitchell Twersky of Abraham, Fruchter & Twersky; Joel Friedlander and Jeffrey Gorris of Friedlander & Gorris; and P. Bradford deLeeuw of deLeeuw Law. For 3G: Sandra Goldstein and Stefan Atkinson of Kirkland & Ellis; and Michael Pittenger and Jacqueline Rogers of Potter Anderson & Corroon.

Wednesday, June 30

12:45 p.m. - Investment firm Brookfield Asset Management Inc will urge the Delaware Supreme Court to dismiss a suit brought by former shareholders in TerraForm Power Inc that challenged the asset manager's purchase of $650 million worth of the renewable energy company’s shares. Brookfield said the lower court should have dismissed the suit because the shareholders lacked standing to bring their claims.

The case is Brookfield Asset Management Inc v. Rosson, Supreme Court of Delaware, No. 406,2020. For Brookfield: John Neuwirth, Stefania Venezia and Amanda Pooler of Weil, Gotshal & Manges; and Kevin Abrams of Abrams & Bayliss. For appellees: Steven Purcell and Douglas Julie of Purcell Julie & Lefkowitz; Jeremy Friedman and David Tejtel of Friedman Oster & Tejtel; Ned Weinberger of Labaton Sucharow; and Peter Andrews and Craig Springer of Andrews & Springer.

1 p.m. - The ABA will host an event called “Firewall: Sanctions, Export Controls, and CFIUS Enforcement in Cyberspace,” to discuss how the expanded use of sanctions, export controls and Committee on Foreign Investment enforcement in cyberspace is affecting attorneys’ and their clients’ businesses. Speakers include Camille Stewart of Google, Hdeel Abdelhady of MassPoint Legal and Strategy Advisory and Christopher Timura of Gibson, Dunn & Crutcher. For more information, click here.

Thursday, July 1

10 a.m. - U.S. District Judge Fernando Olguin in Los Angeles will hear competing bids for lead plaintiff status in a proposed class action against electric vehicle company Canoo Inc. The company went public via merger with a special purpose acquisition company last year. Hagens Berman Sobol Shapiro, Levi & Korsinsky, The Rosen Law Firm and Pomerantz are all vying to have their clients lead the case.

The case is Blake v. Canoo Inc, U.S. District Court, Central District of California, No. 21-CV-02873. For the various lead plaintiff contenders: Laurence Rosen of The Rosen Law Firm; Nicole Lavallee of Berman Tabacco; Adam Apton of Levi & Korsinsky; and Danielle Smith of Hagens Berman Sobol Shapiro. For Canoo: Mark Holscher, David Klein and Jeffrey Sinek of Kirkland and Ellis.

Know of an event that could be included in Week Ahead in M&A? Contact Sierra Jackson at sierra.jackson@thomsonreuters.com

(NOTE: This story has been updated with a proceeding happening on Tuesday, June 29.)

Sierra Jackson reports on legal matters in major mergers and acquisitions, including deal work, litigation and regulatory changes. Reach her at sierra.jackson@thomsonreuters.com

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