Deals & Corporate Governance

  • April 03, 2024

    Pharma Exec, Cousin Cop To Insider Trading On Kodak Loan

    A pharmaceutical company's executive and his cousin on Wednesday pled guilty to trading on information they acquired through the company's partnership with Eastman Kodak Co. about a government loan the photography giant was set to receive during the COVID-19 pandemic.

  • April 03, 2024

    2024 Proxy Fight Preview: Hotel Operator, Shops, Offices

    Every spring ushers in a new season of proxy fights between activist investors and boards of directors, and a handful of commercial property companies are in the midst of battles with dissatisfied shareholders, while the industry at large continues to face economic stressors.

  • April 02, 2024

    Theseus Investor Seeks Appraisal After Concentra Merger

    A fund invested in clinical-stage biopharmaceutical company Theseus Pharmaceuticals Inc. has petitioned Delaware's Court of Chancery for an appraisal of the investor's 250,000 shares following Theseus' $4.05 per-share consolidation in February with Concentra Biosciences LLC.

  • April 02, 2024

    Acorda Therapeutics Hits Ch. 11, Plans $185M Drug Sale

    Neurological disorders drugmaker Acorda Therapeutics Inc. filed for Chapter 11 protection in New York bankruptcy court, with plans to sell its assets to another pharmaceutical company for $185 million.

  • April 01, 2024

    Pharma Co. Beats Investor Suit Over Wrinkle Drug Approval

    A California federal judge has dismissed a lawsuit from the investors of Revance Therapeutics Inc. accusing it and several executives of concealing quality control concerns that eventually led the U.S. Food and Drug Administration to deny the company a license for its wrinkle injectable, saying the defendants may not have known the approval timeline they presented was unattainable.

  • April 01, 2024

    Health System Says $1B In Losses Dooms Beth Israel Hospital

    Mount Sinai Health System Inc. told a New York state court to let it go forward with its plans to shut down Mount Sinai Beth Israel Hospital, arguing that it reached its decision to close the Manhattan hospital "after a decade of mounting losses at MSBI amounting to over $1 billion."

  • April 01, 2024

    'Unreliable' Theory Dooms City's Acthar Antitrust Cert. Bid

    The city of Rockford has presented "unreliable" damages evidence that cannot warrant giving class treatment to its claim that pharmacy benefits manager Express Scripts engaged in a scheme to fix prices for the seizure medication Acthar, an Illinois federal judge has said.

  • April 01, 2024

    Pharma Co. Impel's Ch. 11 Liquidation Plan Approved

    Migraine-drug maker Impel Pharmaceuticals received confirmation of its Chapter 11 liquidation plan on Monday after selling its assets and making changes to the plan's exculpation provisions in response to a U.S. trustee objection.

  • April 01, 2024

    Masimo Rips Politan's New Attempt To Grab Board Seats

    Medical technology company Masimo Corp. on Monday pushed back against activist allegations of broken governance and lack of independent oversight, saying investor Politan Capital Management LP's plans to oust its current chairman and CEO contradict shareholders' best interests.

  • March 28, 2024

    2 Firms Steer Close Of Hildred's $750M Continuation Fund

    Healthcare-focused private equity firm Hildred Capital, advised by Kirkland & Ellis LLP and Lowenstein Sandler LLP, on Thursday said it clinched a multiasset continuation fund after securing more than $750 million in commitments, which will be used to acquire two companies from the firm's previous funds.

  • March 27, 2024

    NY AG, Others Blast Sandoz Deal 'Tax' On Future Settlements

    New York's attorney general was one of three objectors Tuesday to a provision in Sandoz's proposed $265 million settlement with a class of drug wholesalers in Pennsylvania federal court that they say will delay any future generic-drug price-fixing litigation deals by taxing agreements over $119.25 million.

  • March 26, 2024

    FTC Urges Court To Pause Novant's NC Hospital Deal

    The Federal Trade Commission is urging a North Carolina federal court to pause Novant Health's $320 million deal for a pair of hospitals, contending the move would give Novant an "eye-popping" share of the hospital market in a Charlotte suburb.

  • March 26, 2024

    Amazon's Healthcare Push Raises Tough Questions For Attys

    Along with toiletries, tech gadgets and groceries, your favorite online mega-retailer now offers prescription drugs, monitoring of chronic health conditions and virtual doctor's visits.

  • March 26, 2024

    Healthcare Deals This Week: Novo Nordisk, Mirador, And More

    From massive mergers and acquisitions, to funding rounds worth hundreds of millions of dollars, the healthcare industry has had a busy past few days.

  • March 26, 2024

    DOL Urges 4th Circ. To Keep $9M Nurse Classification Ruling

    A medical staffing company is trying to circumvent clear error standards simply because it didn't like a federal court's conclusion that the company must pay $9 million in a misclassification suit, the U.S. Department of Labor told the Fourth Circuit.

  • March 26, 2024

    6 Firms Build $340M SPAC Merger For AI-Driven Medicine Biz

    Precision medicine company OmnigenicsAI Corp. on Tuesday announced it and artificial intelligence-enabled preventative medicine company MultiplAI Health Ltd., which it recently agreed to acquire, will go public through a merger with blank-check company APx Acquisition Corp. I in a deal built by six firms, valuing the two businesses at a combined $340 million.

  • March 26, 2024

    Latham, Cooley Attys 'Cautiously Optimistic' On Biotech IPOs

    Attorneys from two law firms that guided the first biotech initial public offering of 2024 have "cautious optimism" about the public market for life sciences companies this year and say that investor dollars, freed up from recent exits in the space, are helping to fuel activity.

  • March 25, 2024

    PacBio CEO's Words Haunt Patent Invalidity Arguments

    A California federal judge concluded Monday that statements made by the chief executive officer of biotech company Pacific Biosciences to investors at an earnings call undermined the company's invalidity arguments in a patent suit it's facing.

  • March 25, 2024

    Judge Probes If $54M Deal Will Affect Tehum Care Ch. 11 Plan

    A Texas bankruptcy judge Monday mulled if approving a settlement for prison health care company Tehum Care Services Inc. will lock in releases for a future Chapter 11 plan at the third day of a trial asking him to confirm the deal or toss the "Texas two-step" bankruptcy.

  • March 25, 2024

    Paul Weiss-Led AbbVie Inks Up To $212M Deal For Landos Bio

    AbbVie Inc., represented by Paul Weiss Rifkind Wharton & Garrison LLP, said Monday it will pay up to $212.5 million for Cooley LLP-led Landos Biopharma Inc., a clinical-stage biopharmaceutical company developing treatments for autoimmune diseases.

  • March 25, 2024

    Vidal Vacates Denials Of Challenges To Neo Wireless IP

    U.S. Patent and Trademark Office Director Kathi Vidal has thrown out Patent Trial and Appeal Board decisions not to review whether Neo Wireless patents are invalid in challenges brought by Honda and others.

  • March 25, 2024

    Novo Nordisk Inks $1.1B Deal For German Pharma Biz

    Danish pharmaceutical giant Novo Nordisk A/S said Monday it has signed a deal to acquire Cardior Pharmaceuticals of Germany for just over €1 billion ($1.1 billion) to widen its focus on cardiovascular diseases.

  • March 25, 2024

    7th Circ. Affirms Co. Can't Get $3.5M Software Deduction

    A healthcare company that helps nursing homes buy equipment is not entitled to $3.5 million in tax deductions meant for domestic software production, the Seventh Circuit ruled, saying the company failed to meet the threshold for the break because it didn't actually provide software to customers.

  • March 25, 2024

    Kirkland Guides Ingersoll Rand On $2.3B ILC Dover Buy

    Kirkland & Ellis LLP is representing Ingersoll Rand on a new agreement to buy ILC Dover from private equity firm New Mountain Capital for more than $2.3 billion, part of Ingersoll's plan to bolster its life sciences business, the industrial products company said Monday. 

  • March 22, 2024

    Expert's Sanctions Off Limits In SEC's 'Shadow Trading' Trial

    A California federal judge overseeing a "shadow trading" trial starting Monday against a pharmaceutical executive ruled that the U.S. Securities and Exchange Commission can't introduce banking sanctions evidence against the defendant's mergers and acquisitions expert as long as he doesn't give opinions on securities law.

Expert Analysis

  • How To Protect Atty-Client Privilege While Using Generative AI

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    When using generative artificial intelligence tools, attorneys should consider several safeguards to avoid breaches or complications in attorney-client privilege, say Antonious Sadek and Christopher Campbell at DLA Piper.

  • How New Lawyers Can Leverage Feedback For Growth

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    Embracing constructive criticism as a tool for success can help new lawyers accelerate their professional growth and law firms build a culture of continuous improvement, says Katie Aldrich at Fringe Professional Development.

  • State Privacy Laws: Not As Comprehensive As You May Think

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    As more U.S. states enact privacy laws, companies must be aware that these laws vary in scope and content, meaning organizations should take a stringent approach to compliance by considering notice, choice and data security obligations, among other requirements, says Liisa Thomas at Sheppard Mullin.

  • ESG Around The World: Australia

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    Clive Cachia and Cathy Ma at K&L Gates detail ESG-reporting policies in Australia and explain how the country is starting to introduce mandatory requirements as ESG performance is increasingly seen as a key investment and corporate differentiator in the fight for global capital.

  • Address The Data Monopoly, Otherwise Tech Giants Control AI

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    It is likely that we will experience a severe monopoly on artificial intelligence systems and patents by the largest players in the tech industry, so the way we treat data needs to change, whether through the legislature, the courts or tech companies, says Pranav Katti at Barclay Damon.

  • Info Exchanges Must Stay Inside Now-Invisible Antitrust Lines

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    While the antitrust agencies recently withdrew long-standing enforcement policy statements for being "overly permissive" on information exchanges, we should not assume that all information exchanges are inherently suspect — they are still permissible if carefully constructed and vigorously managed, say attorneys at Nelson Mullins.

  • Twitter Legal Fees Suit Offers Crash Course In Billing Ethics

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    X Corp.'s suit alleging that Wachtell grossly inflated its fees in the final days of Elon Musk’s Twitter acquisition provides a case study in how firms should protect their reputations by hewing to ethical billing practices and the high standards for professional conduct that govern attorney-client relationships, says Lourdes Fuentes at Karta Legal.

  • Amgen-Horizon Deal May Signal FTC's Return To Bargaining

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    The Federal Trade Commission's recent settlement of its challenge to Amgen's proposed acquisition of Horizon Therapeutics marks the latest in a string of midlitigation settlements, and may signal that competition regulators are more inclined toward such negotiations following recent litigation losses, say attorneys at Freshfields.

  • ABA's Money-Laundering Resolution Is A Balancing Act

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    While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.

  • FTC Settlements Widen Efforts To Shield Health Data

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    The Federal Trade Commission's recent enforcement actions aim to send a clear message that companies using tracking technologies should carefully monitor the sharing of sensitive data, particularly in the mental health, substance use disorder treatment and reproductive health care fields, say attorneys at Choate.

  • Law Firm Professional Development Steps To Thrive In AI Era

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    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

  • HHS Neuromonitoring Advisory May Have Broad Relevance

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    The Health Department Office of Inspector General's recent advisory opinion rejecting a neuromonitoring service's proposal for a shell arrangement isn't surprising, but it could be a harbinger of more warnings against problematic joint venture arrangements to come, says Mary Kohler at Kohler Health Law.

  • Merger Proposals Reflect Agency Leaders' Antitrust Principles

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    Attorneys at Covington trace the recently proposed Hart-Scott-Rodino and merger guidelines changes to certain foundational concerns of the Federal Trade Commission and U.S. Department of Justice Antitrust Division leadership, including issues related to concentration associated with horizontal and vertical mergers.