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Commercial Contracts
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September 30, 2024
Judge Blasts Scamming Exec's 'Pathetic' Bid To Cut Sentence
A Colorado federal judge waved away what he saw as a convicted data executive's efforts to absolve himself of responsibility during a sentencing hearing Monday, calling it "pathetic nonsense" as he sentenced him to 10 years in prison for his role in selling consumer data to scammers who preyed on the elderly and vulnerable.
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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
Webuild Escapes Suit Over $140M Award In Delaware
Italian construction giant Webuild has skirted a Chilean construction company's bid to enforce a $140 million arbitral award arising from a soured hospital construction project in the Chilean capital of Santiago, after a Delaware federal judge nixed the case on jurisdictional grounds.
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September 30, 2024
Judge Wants More Info On Yale's Ties To Fertility Doctor
A Connecticut judge presiding over claims a fertility doctor used his own sperm to impregnate women in the 1980s asked two plaintiffs on Monday to back up their argument that Yale University and its affiliated hospital could be held liable, while the Ivy League entities sought to avert an evidence probe.
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September 30, 2024
NC Builder's Insurer Must Cover Death Suit, Estate Says
The estate of a woman who died while working on a roof replacement project said it's entitled to coverage under a construction company's policy, telling a North Carolina state appeals court Monday a lower court wrongly held that the woman was an employee barred from coverage.
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September 30, 2024
Horse Breeders Sue NJ Track Owner Over Planned Closure
A group representing horse trainers and breeders in New Jersey is suing the owner and operator of Freehold Raceway, the oldest operating racetrack in the country, alleging that the company wants to shutter the facility it allowed to fall into disrepair despite existing contracts.
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September 30, 2024
Insurer Says BIPA Row Not Covered Due To Prior Settlement
The insurer for a Chicago-based seat manufacturer told an Illinois federal court it owes no coverage for an underlying lawsuit accusing the company of violating the state's Biometric Information Privacy Act, noting it already reached a coverage settlement with the company in a prior BIPA class action involving similar claims.
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September 30, 2024
AGs, Academics Back Media Giants In Sports Streaming Fight
ESPN, Fox and Warner Bros. have picked up allies in their push to move ahead with a "sports-first" broadcasting service, with six state attorneys general and a host of respected economics professors urging the Second Circuit to undo a New York court order that blocked the service's launch.
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September 30, 2024
Atty Accused Of Trying To Win Back Client With Loan
The Law Offices of Michael S. Lamonsoff PLLC, a New York personal injury firm, has accused competitor Harmon Linder & Rogowsky of offering a former client a loan after learning they were being booted as counsel.
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September 30, 2024
NY Man Must Face Brownstone Deed Theft Charges
A New York state court on Monday denied a Long Island man's bid to escape charges accusing him of using forgery and shell companies to steal two brownstone buildings in Harlem that are worth millions of dollars, disagreeing with the man's argument that the case was too stale to prosecute.
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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
Popwallet Shareholders Sue Buyer Snap Inc. After Stock-Drop
Stockholders of virtual payment wallet startup Popwallet Inc. have sued tech company Snap Inc. for fraud and equitable fraud in Delaware's Court of Chancery, accusing Snap of withholding deeply negative news about its own business until after closing on a mostly paid-in-stock merger in late 2021.
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September 30, 2024
$143M Seattle Tunnel Insurance Suit Settles Midtrial
A Seattle construction contractor that claimed it was wrongly denied more than $143 million in coverage for damage to a massive tunneling machine has settled its case against insurers, the parties told a Washington state judge Monday on the second day of a jury trial.
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September 30, 2024
Mich. Justices Won't Restore 1-800-Bathtub's $1.3M Award
The Michigan Supreme Court on Monday left in place an appellate ruling slashing most of a $1.3 million arbitration award for the owner of a toll-free number, 1-800-BATHTUB.
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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 27, 2024
1st Circ. Drops Bribery, Reinstates Extortion In Casino Case
The First Circuit on Friday reversed both convictions and acquittals in a high-profile bribery and extortion case involving a Rhode Island architect and a Massachusetts tribal official who had been found guilty of a quid pro quo exchange of pricey gifts related to a valuable design contract on the tribe's $1 billion casino development.
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September 27, 2024
Twitter Investors Win Cert. In Suit Over Musk's Backpedaling
A California federal judge on Friday certified a class of thousands of Twitter investors over claims Elon Musk fraudulently tweeted about the social media company's alleged bot problem to get out of his $44 billion acquisition, rebuffing the billionaire businessman's contention that individual issues in the suit eclipse common questions.
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September 27, 2024
'So What?': OnlyFans' Dismissal Bid Faces Skeptical Judge
A San Francisco federal judge indicated Friday that he won't dismiss a proposed class action against OnlyFans' parent company alleging the video platform dupes customers into automatically renewing their subscriptions, waving away arguments that a Los Angeles federal judge dismissed a similar suit and asking its lawyers, "So what?"
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September 27, 2024
New Orleans Inspector Indicted For Bribing Top City Official
A New Orleans resident and his home inspection company were indicted in Louisiana federal court Friday on charges that he operated a yearslong scheme of taking bribes to let unlicensed electricians work on hundreds of homes and bribing top city officials to look the other way.
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September 27, 2024
SEC Says Ex-Chewy Exec Inside Traded On Pet Insurer Deal
A former executive at pet supply company Chewy agreed Friday to pay more than $35,000 to settle charges from the U.S. Securities and Exchange Commission that he traded on inside information about the company's plans to announce a deal with a pet insurance company.
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September 27, 2024
Warner Bros. Reneged On 'Harry Potter' Series Deal, Sky Says
Warner Bros. Discovery has not held up its end of an exclusive rights agreement with Comcast's European subsidiary Sky to co-produce premium content, including a new television series based on the iconic "Harry Potter" novels, according to a lawsuit filed Friday in New York federal court.
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September 27, 2024
Fla. Timeshare Biz Wins $1.3M Fee Award In False Ad Suit
A Florida federal judge has awarded more than $1.3 million in attorney fees to a timeshare company that prevailed in a lawsuit against a Wyoming company over a false advertising scheme encouraging customers to stop paying for their properties, after agreeing the marketers pursued an "exceptionally weak case" that would not succeed.
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September 27, 2024
Acadia To Pay $19.9M For Alleged Inpatient Billing Scheme
Acadia Healthcare will pay $19.85 million to settle allegations it billed false claims to the federal government for medically unnecessary behavioral health services provided to patients who weren't even eligible for treatment, the U.S. Department of Justice announced.
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September 27, 2024
Apple, Visa And Mastercard Want Out Of 'Tap Pay' Fee Suit
Apple, Visa and Mastercard on Thursday urged an Illinois federal court to toss several retailers' proposed antitrust class action accusing the three of conspiring to restrain competition in point-of-sale transaction payment networks, saying in separate motions that allegedly unlawful agreements they entered "expressly preserve" Apple's right to compete.
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September 27, 2024
Ex-CEO To Pay SEC Fine For Pre-SPAC Disclosure Failures
The U.S. Securities and Exchange Commission announced Friday it has reached a settlement with the former CEO of an electric vehicle battery company who allegedly concealed its supply chain issues ahead of its merger with a blank check company, leading to a nearly 20% drop in the company's share price once the shortage was revealed.
Expert Analysis
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Expect An Increase In Robinson-Patman Act Enforcement
Recent actions by the Federal Trade Commission and prominent lawmakers should be viewed as a harbinger of renewed scrutiny of price discrimination in all industries and a sign that Robinson-Patman Act investigations and enforcement actions are likely to see an uptick, say attorneys at Morgan Lewis.
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Opinion
The FTC's Noncompete Rule Is Likely Dead On Arrival
The Federal Trade Commission's April 23 noncompete ban ignores the consequences to the employees it claims to help — but the rule is unlikely to go into effect provided the ideological makeup of the U.S. Supreme Court remains the same, say Erik Weibust and Stuart Gerson at Epstein Becker.
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Class Actions At The Circuit Courts: April Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses three notable circuit court decisions on topics from the Class Action Fairness Act to consumer fraud — and provides key takeaways for counsel on issues including CAFA’s local controversy exception and Article III standing to seek injunctive relief.
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9th Circ. Arbitration Ruling Could Have Int'l Implications
In Patrick v. Running Warehouse, the Ninth Circuit's recent matter-of-fact invocation of an unusual California rule in a domestic arbitration context raises choice of law questions, and could make California law a strategic option for some international arbitration parties, says Jerry Roth at FedArb.
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Series
Being An Equestrian Makes Me A Better Lawyer
Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.
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FTC Noncompete Ban Signals Rising Labor Focus In Antitrust
The Federal Trade Commission’s approval this week of a prohibition on noncompete agreements continues antitrust enforcers’ increasing focus on labor, meaning companies must keep employee issues top of mind both in the ordinary course of business and when pursuing transactions, say attorneys at Skadden.
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4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.
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What 3rd Circ. Trust Ruling Means For Securitization Market
Mercedes Tunstall and Michael Gambro at Cadwalader break down the Third Circuit's March decision in Consumer Financial Protection Bureau v. National Collegiate Master Student Loan Trust, as well as predict next steps in the litigation and the implications of the decision for servicers and the securitization industry as a whole.
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Clemson's ACC Exit Fee Suit May Have Major Consequences
Clemson University's recent suit in South Carolina state court against the Atlantic Coast Conference, which challenges the ACC's $140 million exit fee and its ownership of member schools' media rights, would likely have enormous ramifications for ACC members in the event of a definitive court ruling, say William Sullivan and Alex Anderson at Pillsbury.
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Series
Whitewater Kayaking Makes Me A Better Lawyer
Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.
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A Key Pitfall Of Restricted Subsidiaries In Loan Agreements
In loan agreements, the treatment afforded to non-loan party restricted subsidiaries' EBITDA presents subtle, but serious threats to lenders that require thoughtful attention in underwriting and drafting, say David Ebroon at JPMorgan Chase and Jared Zajac at Cadwalader.
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This Earth Day, Consider How Your Firm Can Go Greener
As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.
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New Proposal Signals Sharper Enforcement Focus At CFIUS
Last week's proposed rule aimed at broadening the Committee on Foreign Investment in the United States' enforcement authority over foreign investments and increasing penalties for violations signals that CFIUS intends to continue expanding its aggressive monitoring of national security issues, say attorneys at Kirkland.
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How Companies Can Use Big Data As A Strategic Asset
Artificial intelligence technology powered by big data has the potential to create radical improvements to business operations, but if big data is improperly protected or monetized, this same information can give competitors similar advantages, or at the very least undermine a company's edge, say Gary Weinstein and Hudson Peters at Faegre Drinker.
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How Retail Tenants Can Avoid Paying Rent Prematurely
When negotiating leases for spaces in shopping centers, retail tenants should ensure that the language specifies they only need to begin paying rent when the center is substantially occupied as a whole, as it can be difficult to modify leases that are executed without co-tenancy requirements or termination rights, say Joshua Bernstein and Benjamin Joelson at Akerman.