THE CHEETAH BRIEF – 34th EDITION
A&O Shearman and Freshfields are advising on Dubizzle’s upcoming IPO on the Dubai Financial Market, which includes both primary and secondary share sales and could value the company at around $2 billion. The listing—set to begin trading around November 6—will offer roughly 1.25 billion shares, including 196 million new shares and 1.05 billion existing ones, with major shareholder Prosus committing $100 million. Dubizzle, a leading online marketplace serving the countries of the Gulf Cooperation Council, Egypt, Lebanon, and Pakistan, is known for its dominance in real estate and automotive listings. The IPO comes amid strong regional momentum, as the Middle East and North African market continues to outperform global trends with billions raised across multiple offerings in 2024 and 2025.
MARKET MOVEMENTS
Latham global real estate leader, Michelle Kelban, jumps to Kirkland in New York.
Baker Botts adds two tax partners, Friedemann Thomma and Becca Chappell, from Venable in San Francisco.
Orrick hires Wilson Sonsini partner, Jim Jensen, as fund formation practice lead.
Skadden veteran private equity partner, Tracey Chenoweth, jumps to Paul Hastings.
FIRM SPOTLIGHT - SHEPPARD, MILLIN, RICHTER & HAMPTON LLP
Sheppard, Mullin, Richter & Hampton LLP—founded in 1927 and rooted in a legacy of entrepreneurial spirit—has evolved into a powerhouse firm with expertise spanning corporate, litigation, employment, intellectual property, antitrust, and finance. Serving major clients like Disney, Mastercard, Peloton, and Spotify, the firm has expanded into industry-focused areas such as healthcare, insurance, and entertainment. Its renowned labor and employment practice ranks among the top 20 nationally, advising everyone from startups to Fortune 100 companies. Sheppard Mullin’s 230-plus healthcare attorneys drive innovation in patient care and regulatory compliance through a cross-disciplinary approach. Beyond legal excellence, the firm is deeply committed to diversity and inclusion, supporting affinity groups, wellness programs, gender-neutral parental leave, and billable hour credit for contributions that foster an inclusive workplace.
INDUSTRY INSIGHTS
According to midlevel associates who sounded off on their firms’ unlimited PTO policies, roughly 27% of the firms surveyed had at least one associate speak up about an unlimited PTO policy, and none of those who mentioned such policies had positive feedback
The top 6 Global M&A law firm powerhouses have remained the same since 2020. They include: Kirkland, Latham, Wachtell, Simpson, Freshfields and Skadden
The Association of Corporate Counsel’s 2025 Chief Legal Officers Survey found the 83% of legal chiefs now hold responsibilities beyond legal, and a Russell Reynolds Associates study reported that the number of Fortune 500 GCs managing “nontraditional” functions jumped nearly 60% between 2022 and 2023
Among Am Law 100 firms in major markets like New York, California and Washington, D.C., CIOs and CTOs are typically earning up to $650,000 before bonuses and other incentives. In the Second Hundred, base salaries tend to be between $350,000 and $500,000
AI Creator Takes Copyright Battle to Supreme Court
Computer scientist Stephen Thaler has asked the U.S. Supreme Court to grant copyright protection to works created entirely by artificial intelligence, challenging the Copyright Office’s rejection of his AI-generated image “A Recent Entrance to Paradise.” Thaler, the inventor of the “Creativity Machine,” argues that AI-created art should receive the same protection as human-made works, calling the current policy “deeply hostile” to technological innovation. His case, dating back to 2019, has been dismissed by lower courts on the grounds that U.S. law protects only human authorship. Thaler’s petition likens AI art to the early days of photography, urging the Court to recognize its creative legitimacy.
Winston & Strawn Unveils Modern Chicago HQ
After 35 years in its former space, Winston & Strawn has opened its new Chicago headquarters at 300 N. LaSalle, joining several other major firms in the high-rise. The move, planned before the pandemic, reflects a shift toward more efficient, tech-enabled, and collaborative workspaces, featuring a cafe, cold brew stations, and a mock courtroom for trial practice. The firm downsized from 350,000 to 150,000 square feet while maintaining space for all 605 employees and requiring in-office attendance three to four days a week. The Chicago office revamp comes alongside new spaces in Miami and Paris, as the firm looks ahead with confidence in its 2025 performance.
