Schiff Hardin LLP is one of only eleven law firms recognized for outstanding achievements in innovative legal services in mergers and acquisitions by the Financial Times Innovative Lawyers Report U.S. The firm was awarded this recognition based on its work advising the online news media start-up EveryBlock LLC in its acquisition by MSNBC.com.
The FT Innovative Lawyers Report, which has been published in Europe for five years, launched its inaugural U.S. edition this year. All submissions were thoroughly researched by the FT and report rankings are based on originality, rationale, and the impact and results of implementing the innovation.
In preparation for its initial funding grant coming to an end, EveryBlock needed to determine the best growth strategy for its next stage of development, and turned to Schiff Hardin for advice. The Schiff Hardin team, led by Matthew Galo, co-leader of the firm's Private Companies group, together with Robert Sieland, who focuses on early-stage companies, worked with the client on how to maximize the value of its innovative, scalable "micro-news" platform, including the evaluation of potential private equity investment and acquisition opportunities. Additionally, Chris Bollinger advised the client with respect to critical issues surrounding open-source code and the protection of its intellectual property rights. Ultimately, EveryBlock agreed to be acquired by MSNBC.com, where it operates today (www.everyblock.com), and Schiff Hardin handled the negotiations and successful closing of the transaction.