Commercial Contracts Law360 provides breaking news and analysis on commercial contract law. Coverage includes major contract disputes between companies in the U.S. and around the globe, as well as relevant regulatory and legislative developments.
Emerson Electric Co. asked an Illinois federal judge Tuesday to let it out of a $100 million lawsuit claiming its former subsidiary misappropriated trade secrets that caused a rival’s declined lithium-ion battery sales, saying its status as a former parent company makes liability a “factual impossibility.”
Audit firm KPMG LLP has asked a New York state court to send claims it contributed to the $1.8 billion debt that drove drug testing firm Millennium Labs into bankruptcy to arbitration, saying the trust bringing the claim is bound by the terms of Millennium's contract.
A New York federal judge on Wednesday said the government may introduce evidence in the Foreign Corrupt Practices Act trial of the head of a Chinese nongovernmental organization that he planned to bribe the same United Nations official at the center of Chinese real estate billionaire Ng Lap Seng’s bribery case.
A Delaware vice chancellor encouraged former real estate mogul Nicholas Schorsch, a Vereit Inc. affiliate and others to soldier on Wednesday in an $18 million fee advancement dispute linked to litigation over the meltdown of American Realty Capital Partners in 2015
A Missouri federal judge threw out a case Wednesday that claimed a Missouri-Illinois Metropolitan District development agency cheated the government out of millions in federal funds for its operations and capital improvements, and used the money to make political paybacks, finding no evidence the agency violated federal anti-corruption laws.