Corporate

  • December 03, 2024

    SEC Says Biopharma's Cooperation Helped It Avoid Penalty

    A Houston biopharmaceutical company accused of misleading investors about the regulatory status of two cancer drugs agreed to settle the U.S. Securities and Exchange Commission's action against it on Tuesday without paying a dime, in recognition of what the SEC said was the company's self-reporting and cooperation with investigators.

  • December 03, 2024

    Mich. Seat Co. On Hook For €4.1M German Lease, Suit Says

    A German property owner has said in a new complaint that a Michigan-based automotive seat manufacturer is on the hook for a €4.1 million ($4.3 million at current exchange rates) lease after its European entity defaulted on payments and entered insolvency proceedings.

  • December 03, 2024

    9th Circ. Ponders AIDS Generic Drug Reimbursement

    A Ninth Circuit panel heard arguments Tuesday on a Seattle pharmacy's dispute with a benefits manager over reimbursements for the generic version of the HIV/AIDS drug Truvada, with one judge asking if the pharmacy was stuck with a lopsided deal, but also questioning if the contract obligated the payments.

  • December 03, 2024

    ZoomInfo Brass Face COVID Customer Loss Derivative Suit

    Leaders of software company ZoomInfo Technologies Inc. face new shareholder derivative action claims over the company's allegedly improper customer retention measures following its $33 million write-down in connection with the matter.

  • December 03, 2024

    Chancery Orders Revenue Trust For Healthcare Co. 'Poaching'

    A home health company formed through secret poaching by an allegedly disloyal former CEO, two officers and two private equities has been ordered to earmark much of its future revenue to a trust for the corporate victims, in a Delaware Court of Chancery ruling that described the subterfuge as "stunning."

  • December 03, 2024

    Monthly Merger Review Snapshot

    The U.S. Department of Justice moved to block a $3 billion UnitedHealth Group deal, a pair of fashion brand companies abandoned their planned tie-up and the Federal Trade Commission pushed its bid to pause Tempur Sealy's $4 billion purchase of retailer Mattress Firm.

  • December 03, 2024

    USPTO Abandons Polarizing Proposal Over Double Patenting

    The U.S. Patent and Trademark Office has withdrawn an extremely controversial proposal tied to double patenting, citing "resource constraints" in a Federal Register notice set to be published Wednesday.

  • December 03, 2024

    OpenAI Must Disclose Execs' Messages To News Orgs.

    The New York Times, Daily News, other news organizations and writers can gain access to the social media messages of executives at OpenAI in their litigation accusing the company of using copyright-protected material to train ChatGPT after a New York judge rejected efforts to block the disclosure of the messages.

  • December 03, 2024

    AmEx Loses Arbitration Bid Due To 'Ironic' Unpaid $17M Bill

    A Rhode Island federal judge on Monday rejected sending a proposed antitrust class action over American Express Co.'s swipe-fee rules back to arbitration after the company refused to pay arbitration fees totaling $17 million, observing that AmEx's actions created its own "ironic dilemma: a credit card company not paying its bills."

  • December 03, 2024

    Microsoft Asks FTC Watchdog To Look Into Leaked Probe

    A Microsoft deputy general counsel on Tuesday asked the Federal Trade Commission's inspector general to look into whether commission management improperly told a news outlet that the FTC had opened a broad antitrust investigation of the tech giant.

  • December 03, 2024

    Partner Of Ex-Abercrombie CEO Denies Guilt, Gets $10M Bail

    The romantic partner of former Abercrombie & Fitch CEO Michael Jeffries was released on $10 million bond Tuesday after pleading not guilty in New York federal court to charges he helped operate a prostitution and trafficking ring that preyed on male models.

  • December 03, 2024

    Vidal Aimed To Put USPTO Rulemaking In The Spotlight

    Kathi Vidal's tenure as director of the U.S. Patent and Trademark Office has been marked by dedication to making the agency's decisions and processes more transparent, attorneys said ahead of her mid-December departure.

  • December 03, 2024

    Insurance Execs Charged With $250M Fake Policy Scheme

    An insurance company and two executives issued bogus insurance policies purporting to offer over $250 million in coverage to companies and homeowners, according to an indictment announced by the Manhattan district attorney Tuesday.

  • December 03, 2024

    Attys For Sears Ex-CEO, Appraisal Camp Clash In Chancery

    A lawyer for Sears Hometown and Outlet Stores' former top fiduciary told a Delaware vice chancellor on Tuesday that case law does not support carving out stockholder proceeds from a fiduciary breach settlement in order to pay shareholders whose separate appraisal lawsuit was foiled by SHOS' bankruptcy.

  • December 03, 2024

    4 Mass. State Court Rulings You May Have Missed In Nov.

    An age discrimination case was undone by the fine print of an employment agreement, while an "utterly inadequate" document search led to a five-figure sanctions order, among other notable recent decisions in Massachusetts state court.

  • December 03, 2024

    US-China Feud Simmers As Beijing Unveils New Export Curbs

    The Chinese government on Tuesday banned exports of several critical minerals to the U.S., citing national security concerns, a day after the Biden administration announced new restrictions of its own targeting Beijing's semiconductor operations.

  • December 03, 2024

    Former FirstEnergy CEO Rips SEC's 'Belated' Suit Against Him

    Former FirstEnergy Corp. chief executive officer Charles Jones slammed the U.S. Securities and Exchange Commission's enforcement action against him over his alleged part in the company's widely publicized bribery scandal relating to its nuclear program, calling the suit "belated" and arguing the agency failed to back up its claims.

  • December 03, 2024

    No Standing In 'Threadbare' Voice Assistant Suit, Google Says

    Google wants a D.C. federal judge to toss a lawsuit accusing the tech giant of blocking rival voice assistant products from running on Android and other devices, contending that the complaint has failed to articulate an injury "with even a modicum of detail."

  • December 03, 2024

    Robotics Co. Hit With Investor Suit Over Accounting Errors

    Investors in supply chain automation company Symbotic on Tuesday accused executives of hiding faulty accounting processes, prompting financial reporting errors that tanked the company's stock when the issues came to light.

  • December 03, 2024

    Trump Argues Immunity Extends To Local Prosecutions

    President-elect Donald Trump told the New York state judge presiding over his hush money case that the criminal charges and guilty verdict should be thrown out, arguing in an expansive motion released Tuesday that allowing a local prosecution to proceed would upset the republic's balance of power.

  • December 03, 2024

    Judge Trims Fraud Claims From Mead Johnson Formula Suit

    An Illinois federal judge on Monday partially granted a bid by Mead Johnson to toss a class action alleging at least seven types of infant formula it sold contained undisclosed heavy metals, throwing out some warranty and fraud claims and claims related to products the lead plaintiff didn't purchase, but allowing the rest of the complaint to move forward.

  • December 03, 2024

    Exelon Promotes Ex-FERC Commissioner To Top Legal Role

    Utility company Exelon Corp. announced Tuesday that a former Reed Smith LLP partner and former member of the Federal Energy Regulatory Commission has been named its next chief legal officer, and also said it's also expanding the top legal role.

  • December 03, 2024

    Blank Rome Beats Subpoenas Seeking Attys' Comp Info

    A Philadelphia federal judge on Tuesday tossed subpoenas that would have compelled Blank Rome LLP to share compensation information regarding three of its attorneys who are facing a malicious prosecution lawsuit, a day after the firm moved to quash the subpoenas.

  • December 03, 2024

    Celsius Founder Cops To Fraud That Sunk $25B Crypto Lender

    Celsius Network founder Alex Mashinsky told a Manhattan federal judge Tuesday that he lied when he told the public that the fallen $25 billion crypto lender's tokens were a safe investment, pleading guilty to fraud charges ahead of a January criminal trial.

  • December 03, 2024

    Exelon Asks For Corp. AMT To Account For Repairs Deduction

    Power companies should be allowed to account for an industry-specific tax deduction on repair costs to determine whether they're subject to the corporate alternative minimum tax, utility giant Exelon said in a comment letter to the U.S. Treasury Department released Tuesday.

Expert Analysis

  • Why India May Become A Major Patent Litigation Forum

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    India is reinventing itself with the goal of becoming a global hot spot for patent litigation, with recent developments at the Delhi High Court creating incentives for plaintiffs to assert patent rights in India, say Ranganath Sudarshan at Covington and IP litigator Udit Sood.

  • Increased IPOs In '24 Shows Importance Of Strategic Planning

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    Initial public offerings, debt issuances and M&A activity so far in 2024 have shown substantial increases over comparable periods in 2023, highlighting why counsel should educate clients on market trends and financing alternatives to proactively prepare them to be ready to take advantage of opportunities, say attorneys at Skadden.

  • How Methods Are Evolving In Textualist Interpretations

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    Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.

  • The State Law Landscape After Justices' Social Media Ruling

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    Following the U.S. Supreme Court’s recent NetChoice ruling on social media platforms’ First Amendment rights, it’s still unclear if state content moderation laws are constitutional, leaving online operators to face a patchwork of regulation, and the potential for the issue to return to the high court, say attorneys at Crowell & Moring.

  • Navigating New Enforcement Scrutiny Of 'AI Washing'

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    The U.S. Securities and Exchange Commission's recent lawsuit against Joonko Diversity, its first public AI-focused enforcement action against a private company, underscores the importance of applying the same internal legal and compliance rigor to AI-related claims as other market-facing statements, say attorneys at Fried Frank.

  • Avoiding Corporate Political Activity Pitfalls This Election Year

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    As Election Day approaches, corporate counsel should be mindful of the complicated rules around companies engaging in political activities, including super PAC contributions, pay-to-play prohibitions and foreign agent restrictions, say attorneys at Covington.

  • Why Attorneys Should Consider Community Leadership Roles

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    Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.

  • 9 Liability Management Tips As Debt Maturity Cliff Looms

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    As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

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    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • 5 Ways Life Sciences Cos. Can Manage Insider Trading Risk

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    In light of two high-profile insider trading jury decisions against life sciences executives this year, public companies in the sector should revise their policies to account for regulators' new and more expansive theories of liability, says Amy Walsh at Orrick.

  • Series

    A Day In The In-House Life: Narmi GC Talks Peak Productivity

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    On a work-from-home day in August, Narmi general counsel Amy Pardee chronicles a typical day in her life in which she organizes her time to tackle everything from advising on products and contract negotiations to volunteering and catching up on the New York Times crossword.

  • How Cos. Can Leverage IP In Corporate Bankruptcy

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    In light of an increase in year-to-date Chapter 11 filings, businesses must understand the importance and value of intellectual property in corporate bankruptcy and restructuring, from contributing to enterprise value, to providing leverage in negotiations and facilitating recovery, says Gregory Campanella at Ocean Tomo.

  • How Ripple Final Judgment Fits In Broader Crypto Landscape

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    The Southern District of New York's recent $125 million civil penalty levied in U.S. Securities and Exchange Commission v. Ripple will have a broad impact on the crypto industry as it was the first to hold that blind sales of digital assets are not securities, even if deemed securities in other circumstances, say attorneys at BakerHostetler.

  • Strategies To Defend Against Healthcare Nuclear Verdicts

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    The healthcare industry is increasingly the target of megaclaims, particularly those alleging medical malpractice, but attorneys representing providers can use a few tools to push back on flimsy litigation and reduce the likelihood of a nuclear verdict, says LaMar Jost at Wheeler Trigg.

  • 5 Tips To Succeed In A Master Of Laws Program And Beyond

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    As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.

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