Deals & Corporate Governance
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October 15, 2024
The 2024 Law360 Pulse Social Impact Leaders
Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.
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October 15, 2024
Law Firms Diverge As Anti-ESG Pushback Continues
A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.
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October 15, 2024
FTC Wants More Info On $1.36B Home Healthcare Deal
The Federal Trade Commission has requested more information about healthcare solutions company Owens & Minor Inc.'s planned $1.36 billion purchase of home-based care business Rotech Healthcare Holdings Inc., extending the agency's merger review.
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October 10, 2024
Yale Hospital Says Pension Liens Breach $435M Sale Deal
A hospital operator's purported $4 million pension liability has saddled its properties with liens that breach a $435 million sale contract, Yale New Haven Health told a Connecticut state judge Wednesday in a letter suggesting it may add claims to litigation over its deal with Prospect Medical Holdings Inc.
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October 10, 2024
Biotech Co. Gritstone Hits Ch. 11 With Over $100M Debt
Vaccine developer Gritstone bio Inc. filed for Chapter 11 protection in Delaware bankruptcy court Thursday with at least $100 million of debt, saying it was in discussions with a potential bidder for a sale of the business to ensure it can continue researching cancer and other disease treatments.
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October 10, 2024
Sen. Warren, Novo At Odds On Merits Of $16.5B Deal
Sen. Elizabeth Warren on Thursday raised the alarm on Novo Holdings' planned $16.5 billion purchase of Catalent, arguing the transaction could give Novo "unprecedented" control over the production of certain obesity drugs by Eli Lilly and other top competitors, but Novo insists the deal would give it no such edge.
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October 08, 2024
Why Health Attys Are Watching The Rise Of Animal Healthcare
Healthcare attorneys are translating their traditional healthcare dealmaking skills into animal health transactions as the space grows.
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October 08, 2024
Abridge GC Talks AI's Future In Healthcare Industry
Interfacing with artificial intelligence at your doctor's office is going to eventually feel as natural as turning on a tap to get running water. Tim Hwang, general counsel at generative AI company Abridge, shares his thoughts on the technology's future in healthcare.
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October 08, 2024
Renovus Capital Clinches 4th PE Fund With $875M In Tow
Philadelphia-area-based private equity firm Renovus Capital Partners, advised by Morgan Lewis & Bockius LLP and Winston & Strawn LLP, on Tuesday revealed that it closed its fourth private equity fund with $875 million in tow.
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October 07, 2024
AbbVie's Top Brass Escape Suit Over Rinvoq Claims, For Now
An Illinois federal judge Friday tossed AbbVie investors' suit challenging directors' statements about the potential for its rheumatoid arthritis drug Rinvoq to be approved for other conditions, a possibility that collapsed over safety risks with Pfizer's competing drug Xeljanz, finding the investors don't allege the directors knew Xeljanz's results would affect Rinvoq.
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October 07, 2024
Biotech, Medical Device Firms Prep Three IPOs Totaling $376M
Two venture-backed biotechnology startups and a medical device maker launched plans on Monday for three initial public offerings projected to raise about $376 million combined, adding to a busy schedule of IPOs this week.
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October 07, 2024
Kirkland-Led Shore Capital Lands Almost $2B Across 3 Funds
Lower-middle-market private equity shop Shore Capital Partners, led by Kirkland & Ellis LLP, on Monday announced that it wrapped three funds with a combined total of nearly $2 billion in commitments.
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October 07, 2024
High Court Rejects Pleas To Hear 7 Patent Cases
The U.S. Supreme Court on Monday turned down seven petitions seeking review of decisions in patent cases, including appeals dealing with double patenting, patent eligibility and Patent Trial and Appeal Board procedures.
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October 07, 2024
Justices Won't Hear Shkreli's Bid To Undo $64M Disgorgement
The U.S. Supreme Court refused Monday to review former pharmaceutical executive Martin Shkreli's challenge of a disgorgement order requiring him to pay up to $64 million for an alleged scheme to increase the price of a life-saving drug by 4,000%.
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October 04, 2024
Massumi & Consoli Adds Ex-Morgan Lewis Attorney In DC
An attorney with more than two decades of experience representing clients in transactions in the healthcare industry moved her practice this week to Massumi & Consoli's Washington, D.C., office after more than 13 years with Morgan Lewis & Bockius LLP.
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October 03, 2024
12 Lawyers Who Are The Future Of The Supreme Court Bar
One attorney hasn't lost a single U.S. Supreme Court case she's argued, or even a single justice's vote. One attorney is perhaps "the preeminent SCOTUS advocate." And one may soon become U.S. solicitor general, despite acknowledging there are "judges out there who don't like me." All three are among a dozen lawyers in the vanguard of the Supreme Court bar's next generation, poised to follow in the footsteps of the bar's current icons.
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October 02, 2024
Avadel Tells Fed. Circ. It Should Be Free To Test Sleep Drug
Specialty-drug maker Avadel Pharmaceuticals says a Delaware federal court went too far in blocking it from testing a narcolepsy drug to treat an uncommon sleep disorder after finding that it infringed a patent covering a rival's narcolepsy drug.
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October 01, 2024
DOJ Joins Employee Antitrust Suit Against UPMC
The U.S. Department of Justice is backing a proposed class action from University of Pittsburgh Medical Center workers who say the hospital used noncompetes and blacklists to suppress wages, telling a Pennsylvania federal judge that UPMC's motion to dismiss the suit sets an "insurmountable" pre-discovery bar for plaintiffs.
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October 01, 2024
What BioAge's Upsized IPO Tells Us About The Obesity Trend
A $198 million upsized public offering by obesity drug developer BioAge points to strong interest in the obesity market and a pipeline of biotech IPOs heading into the end of the year.
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October 01, 2024
Latham Helps TJC Clinch 2nd Continuation Fund At $2.1B
Latham & Watkins LLP-advised middle-market private equity firm TJC LP on Tuesday announced that it clinched its second continuation fund with $2.1 billion of investor commitments led by Carlyle subsidiary AlpInvest.
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September 30, 2024
Bristol-Myers Beats Celgene Investors' Drug Delay Suit
A New York federal judge on Monday tossed UMB Bank's claims that Bristol-Myers Squibb improperly delayed U.S. Food and Drug Administration approval of a cancer treatment to avoid paying shareholders $6.4 billion owed from a 2019 acquisition of Celgene Corp., saying the bank lacked standing to sue.
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September 30, 2024
Medical Device Co. Wins $25M Verdict In Poaching Trial
Medical device company Cynosure has won a $25 million jury award following a weekslong trial in Massachusetts federal court on its claims that a rival business raided its sales and marketing talent and caused the employees to breach their noncompete and nonsolicitation agreements.
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September 30, 2024
J&J Exec Accused Of File Heist Wants Pause Amid DOJ Case
A former competitive strategy director for Johnson & Johnson accused of stealing confidential files as he left the company to work for Pfizer asked a New Jersey federal court to pause the suit after learning he is under criminal investigation.
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September 30, 2024
Steward Health CEO Sues Senate Panel After Contempt Vote
The outgoing CEO of embattled Steward Health Care on Monday sued members of Congress who voted earlier this month to hold him in contempt for defying their subpoena to testify at a hearing into the downfall of the bankrupt hospital chain he heads.
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September 27, 2024
Fed. Circ. Won't Revive $5.9M CMS Contingency Fee Suit
The Federal Circuit on Friday refused to revive a contractor's $5.9 million dispute over a Medicare recovery audit task order, saying the Centers for Medicare and Medicaid Services reasonably terminated the deal and didn't owe the company any more money.
Expert Analysis
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Firm Tips For Helping New Lawyers Succeed Post-Pandemic
Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.
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Fla. Foreign Real Estate Law Brings Broad Investment Risks
Last month, Florida became the latest state to enact legislation prohibiting Chinese investors from acquiring certain interests in real property, introducing significant legal uncertainty and consequences for real estate stakeholders and the private equity industry, say attorneys at Simpson Thacher.
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Tackling Judge-Shopping Concerns While Honoring Localism
As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.
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How Attorneys Can Help Combat Anti-Asian Hate
Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.
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Congress Needs To Enact A Federal Anti-SLAPP Statute
Although many states have passed statutes meant to prevent individuals or entities from filing strategic lawsuits against public participation, other states have not, so it's time for Congress to enact a federal statute to ensure that free speech and petitioning rights are uniformly protected nationwide in federal court, say attorneys at Skadden.
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Takeaways From New Fla. Pharmacy Benefit Manager Rules
A recently passed Florida law imposes several new requirements on pharmacy benefit managers, necessitating practical considerations that range from potential license application delays to possible trade secret exposure, say Thomas Range and Bruce Platt at Akerman.
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Looking For Plausibility In FTC's Amgen Merger Challenge
The Federal Trade Commission is seeking to block Amgen's acquisition of Horizon, alleging that, if consummated, the deal would violate Section 7 of the Clayton Act — but this may be the first merger complaint in a generation that could be dismissed for failing to state a claim, say William MacLeod and David Evans at Kelley Drye.
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Some Client Speculations On AI And The Law Firm Biz Model
Generative artificial intelligence technologies will put pressure on the business of law as it is structured currently, but clients may end up with more price certainty for legal services, and lawyers may spend more time being lawyers, says Jonathan Cole at Melody Capital.
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A Lawyer's Guide To Approaching Digital Assets In Discovery
The booming growth of cryptocurrency and non-fungible tokens has made digital assets relevant in many legal disputes but also poses several challenges for discovery, so lawyers must garner an understanding of the technology behind these assets, the way they function, and how they're held, says Brett Sager at Ehrenstein Sager.
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High Court's Ethics Statement Places Justices Above The Law
The U.S. Supreme Court justices' disappointing statement on the court's ethics principles and practices reveals that not only are they satisfied with a status quo in which they are bound by fewer ethics rules than other federal judges, but also that they've twisted the few rules that do apply to them, says David Janovsky at the Project on Government Oversight.
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Time For Law Schools To Rethink Unsung Role Of Adjuncts
As law schools prepare for the fall 2023 semester, administrators should reevaluate the role of the underappreciated, indispensable adjunct, and consider 16 concrete actions to improve the adjuncts' teaching experience, overall happiness and feeling of belonging, say T. Markus Funk at Perkins Coie, Andrew Boutros at Dechert and Eugene Volokh at UCLA.
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Tips For In-House Legal Leaders In A Challenging Economy
Amid today's economic and geopolitical uncertainty, in-house legal teams are running lean and facing increased scrutiny and unique issues, but can step up and find innovative ways to manage outcomes and capitalize on good business opportunities, says Tim Parilla at LinkSquares.
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What Associates Need To Know Before Switching Law Firms
Excerpt from Practical Guidance
The days of staying at the same firm for the duration of one's career are mostly a thing of the past as lateral moves by lawyers are commonplace, but there are several obstacles that associates should consider before making a move, say attorneys at HWG.