A Delaware federal judge refused Monday to halt the closing of an $80 million sale of the bankrupt owner of New York Sports Club's assets, saying term loan lenders have already transferred their credit bid rights to the assets' purchaser, and so the transaction should be completed.
A shareholder of title insurance company First American Financial Corp. has filed a derivative complaint in Delaware federal court alleging the company's officers and directors allowed a security breach to expose more than 885 million sensitive records, making customers vulnerable to fraud and identity theft.
The Federal Trade Commission on Monday moved to block CoStar Group Inc.'s plan to buy bankrupt online rental property marketing company RentPath Holdings Inc. for $588 million.
Global authorities accepted fixes for a number of multibillion-dollar deals in a variety of industries, while enforcers in the U.S. moved to block Visa's proposed $5.3 billion purchase of Plaid and a Memphis-area hospital deal.
A U.S. District Court judge in Delaware on Monday shot down Coherus BioSciences Inc.'s bid to shift legal fees to Amgen Inc. in its failed patent infringement suit against Coherus over a blockbuster anti-infection drug.
Law360 congratulates the winners of its 2020 Practice Groups of the Year awards, which honor the law firms behind the litigation wins and major deals that resonated throughout the legal industry in the past year.
The eight law firms topping Law360's Firms of the Year managed to win 54 Practice Group of the Year awards among them, for guiding landmark deals, scoring victories in high-profile disputes and helping companies navigate uncharted legal seas made rough by the coronavirus pandemic.
The Third Circuit resoundingly rejected President Donald Trump's effort to keep his lawsuit challenging the outcome of Pennsylvania's elections alive, denying his campaign's appeal that sought to file a third version of its previously tossed complaint in federal court.
President Donald Trump's reelection campaign wants the Third Circuit to hear oral arguments on a bid to reverse President-Elect Joe Biden's win in Pennsylvania, and they want Rudy Giuliani to represent them despite his panned performance in the lower court and the fact that he's not certified for the Third Circuit.
Ahead of the long weekend, when Americans are most known for gathering and traveling, Thanksgiving-minded governors laid down more restrictions as COVID-19 cases continued surging over the past week.
Creditors of bankrupt cryptocurrency investment venture Cred Inc. lost a bid Wednesday to have the Delaware Bankruptcy Court order certain currency exchanges to freeze assets they say are linked to fraudulent diversions from the company.
Appeals courts will take on several important insurance coverage issues in 2020's final month, with the Delaware Supreme Court set to weigh whether an excess insurer must contribute to Dole's $222 million settlements of stockholder suits and Indiana's high court primed to consider whether a ransomware attack is covered by crime insurance. Here, Law360 breaks down four insurance appeals attorneys will be watching in December.
A Delaware vice chancellor ruled Tuesday that American Rail Partners LLC must cover legal expenses incurred by a railroad ownership company that it sued over unjust enrichment claims, saying an agreement in place "unambiguously" provides that expenses be covered.
Pennsylvania counties and election officials urged the Third Circuit on Tuesday to reject an appeal from President Donald Trump's reelection campaign, arguing that his efforts to toss out votes from Democratic-leaning counties were futile and moot after the Keystone State certified President-elect Joe Biden's win there.
The U.S. Supreme Court must not seal a bleak future for TV networks by maintaining Federal Communications Commission ownership restrictions that prevent local stations from combining, major broadcasters wrote in amicus briefs filed Monday.
Pointing to "overly aggressive" efforts by Gilead Sciences Inc. to shut down demands for records as part of stockholder investigations into potential company malfeasance over its AIDS drug, a Delaware vice chancellor has ordered the company to cooperate and authorized investors to seek shifting their legal fees to the company, saying Gilead's conduct "epitomizes a trend."
The bankrupt parent company of Boston Sports Clubs has illegally charged fees for unwanted memberships and failed to honor cancellation requests during the coronavirus pandemic, Massachusetts Attorney General Maura Healey alleged in a suit Tuesday.
The court overseeing Mallinckrodt's bankruptcy proceedings has paused the city of Rockford, Illinois' separate antitrust case against Express Scripts for allegedly working with the troubled drug company to inflate prices of the hormone treatment Acthar.
OxyContin maker Purdue Pharma LP's top officer entered guilty pleas Tuesday on behalf of the company to a three-count felony information detailing Purdue's long conspiracy to defeat federal opioid control programs and anti-kickback statutes, part of a wider $8.3 billion criminal and civil settlement with the U.S. Department of Justice.
Lumber producer Northwest Hardwoods Inc. told a Delaware judge Tuesday it plans a speedy trip through Chapter 11 and aims to emerge from bankruptcy early next year with roughly $270 million of its debt wiped out and most of its ownership stake handed over to lenders.
Home Depot Inc. has agreed to pay $17.5 million and improve its data security to resolve a multistate investigation into a 2014 breach that exposed the credit card information of 40 million of its customers nationwide.
The Federal Circuit on Monday affirmed a Delaware federal judge's ruling that Hospira's generic version of Par Pharmaceutical's epinephrine emergency allergy product Adrenalin infringes two valid patents covering the drug, leaving in place an injunction blocking Hospira's generic.
President Donald Trump's reelection campaign asked the Third Circuit on Monday to give it a second chance at tossing enough Pennsylvania votes to swing the state's electors, after his federal lawsuit was dismissed over the weekend.
A former general counsel for cash advance business Five Hole LLC agreed Monday to drop a suit that claimed the company's chief financial officer falsified records so he and other executives could receive bonuses, telling the court he no longer believed his claims had merit.
Lenders who lost a Delaware Bankruptcy Court ruling on division of $1.25 billion in insurance proceeds after a Philadelphia refinery explosion in 2019 told a U.S. District Court judge on appeal Monday the winning side wrongly sought to "tear the policy in half."
The Delaware Chancery Court's recent decision in Mindbody illustrates how courts assess alleged management conflicts in M&A litigation, but the case's core lesson is the need for boards of directors to uncover and manage actual and potential conflicts of interest in the sale process — in particular, those of the lead negotiators, say Tyler O'Connell and Albert Carroll at Morris James.
Attorneys can use a new predeposition meet-and-confer obligation for federal litigation — taking effect Tuesday — to better understand and narrow the topics of planned testimony, and more clearly outline the scope of any discovery disputes, says James Wagstaffe at Wagstaffe von Loewenfeldt Busch.
Many organizations are making plans for executives to go into government jobs, or for government officials to join a private sector team, but they must understand the many ethics rules that can put a damper on just how valuable the former employee or new hire can be, say Scott Thomas and Jennifer Carrier at Blank Rome.
As New Jersey's ballot measure approving adult-use cannabis gives the state a strong head start in the race to legalization, neighboring states Pennsylvania, New York and Connecticut need to move quickly to follow suit or risk losing out on significant cannabis tax revenue, say attorneys at Saul Ewing.
Attorneys at Ropes & Gray explore four types of high-impact drug pricing initiatives at the state level — pricing transparency, pharmacy benefit manager controls, drug importation and value-based arrangements — examining how the current wave of reforms may affect drug companies' business operations.
While the Delaware Supreme Court's recent decision in Solera is a blow for companies in the state seeking protection for certain key appraisal proceedings, the ruling hinges on the insurers' narrow definition of a violation that will trigger directors and officers coverage for securities-related claims, making it unlikely that other jurisdictions will follow suit, say attorneys at Hunton.
As the pandemic brings a variety of legal stresses for businesses, lawyers must understand the emotional dynamic of a crisis and the particular energy it produces to effectively fulfill their role as advisers, say Meredith Parfet and Aaron Solomon at Ravenyard Group.
Data privacy is likely to be a key area of legislative and enforcement focus for President-elect Joe Biden, and consumer financial protection is expected to be an immediate priority due to the economic impact of the pandemic, with the most drastic shift likely to occur at the Consumer Financial Protection Bureau, say attorneys at Gibson Dunn.
As more states legalize marijuana, financial institutions with marijuana-related business customers should implement robust and nuanced compliance programs, and those that do not want to serve the industry should have policies in place for determining whether existing customers are engaged in marijuana-related activities, say attorneys at Venable.
Richard Finkelman and Yihua Astle at Berkeley Research Group discuss the ethical and bias concerns law firms must address when implementing artificial intelligence-powered applications for recruiting, conflict identification and client counseling.
In a circuit split over whether a U.S. foreign discovery law may be used for private arbitration, the Third Circuit in Axion Holding Cyprus may choose a middle ground by finding that private arbitration under the U.K. Arbitration Act involves sufficient judicial oversight to make it subject to the statute, says Adrienne Koch at Katsky Korins.
Attorneys should consider the pros and cons of participating in virtual court proceedings from home versus their law firm offices, and whether they have the right audio, video and team communication tools for their particular setup, say attorneys at Arnold & Porter.
Attorneys considering blowing the whistle on False Claims Act violations by recipients of COVID-19 relief may face a number of ethical constraints on their ability to disclose client information and file qui tam actions, say Breon Peace and Jennifer Kennedy Park at Cleary.
U.S. Supreme Court nominees typically face intense questioning over potential judicial activism, but a better way to gauge judges' activist tendencies may be to look at the footnotes in their opinions, say Christopher Collier at Hawkins Parnell and Michael Arndt at Rohan Law.
Although a recent Law360 guest article claimed that confusion has seeped into decisions concerning insurance coverage for opioid lawsuits, courts have addressed the issue clearly and consistently in holding that commercial general liability policies cover the defense of such cases, say attorneys at Miller Friel.