Bloomberg Law: JPMorgan Purchase of First Republic
May 1, 2023
The FDIC took possession of embattled San Francisco-based First Republic early Monday, making it the third failure of a midsize bank this year and the second largest in US history. JPMorgan promptly purchased the San Francisco-based lender in an auction. In March, O’Melveny & Myers LLP was engaged to represent a committee of First Republic’s independent directors to assist in navigating through a period of unprecedented financial stress. The O’Melveny team was led by partners Daniel Petrocelli, Jarryd Anderson, Matthew Close, and Andor Terner.
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