As the credit crisis deepens, litigation surrounding it has shifted in target from subprime-related companies to asset management firms and begun focusing on more complex financial instruments such as collateralized debt obligations and credit default swaps, according to a recent report.
A federal judge has ruled that a former employee of Johnson & Johnson unit Ethicon Endo-Surgery Inc. cannot sell or license certain patent applications for ultrasonic surgical blade technology now that a jury has handed down a $2.1 million damages award to the company.
A federal judge has thrown out a suit alleging that GlaxoSmithKline PLC's effort to sell its Lamictal epilepsy drug at generic prices breached a license agreement giving Teva Pharmaceutical Industries Ltd. exclusive rights to manufacture and sell a generic version of the drug.
Bankrupt auto parts supplier Delphi Corp. has scored an additional week to resolve issues with its existing debtor-in-possession lenders regarding the terms of former parent General Motors Corp.’s contributions to a new $250 million DIP loan.
One allegation arising frequently in disputes between policyholders and insurers is a claim that an insurer did not act in good faith. While such claims can be difficult to prove, attorneys say it is always in an insurer’s best interest to vigorously defend itself because bad faith judgments can often result in the award of punitive damages.
An investor in a hedge fund controlled by Massachusetts Mutual Life Insurance Co. has filed an amended putative class action complaint in federal court against the firm and related entities, including the Bank of New York Mellon Corp., for allegedly carelessly investing all of the fund's assets into Bernard L. Madoff's massive Ponzi scheme.
Orrick Herrington & Sutcliffe LLP has lost another bid to toss a recruiting firm’s suit against it, after a judge denied the law firm’s request to dismiss the case from Florida in favor of another forum.
Microsoft Corp. has hit three individuals with a breach-of-contract suit over an alleged “click fraud” scheme the technology giant says tampered with its sponsored search engine results and sapped revenue from its online advertisers.
Johnson & Johnson unit Ethicon Endo-Surgery Inc. has moved to prevent a former employee from selling or licensing certain patent applications, on the heels of a jury's $2.1 million damages award to the company three days ago in the spat over ultrasonic surgical blade technology.
After finding EMC Corp. had plenty of fight, patent-holding companies Millennium LP and Eon-Net LP have backed away from the technology company, and the court has dismissed allegations EMC infringed several patents related to information processing.
Striking back at Monsanto Co.’s infringement suit against it, DuPont Co. asserted claims Tuesday that the agricultural giant’s patent on herbicide-resistant genetically modified soybeans and corn is invalid and that the litigation is an attempt to restrict competition in the market for genetically altered seeds.
A federal judge has tossed Express Rent-a-Car's business interruption and loss coverage claims in an insurance dispute arising from damage to its rental car fleet during Hurricane Katrina, but has declined to dismiss the rental company's remaining claims against U-Save Financial Services Inc., which administered the self-insurance program at issue.
The U.S. Supreme Court has agreed to weigh in on a legal wrangle between Shell Oil Products Co. LLC and eight gas station owners in Massachusetts who have accused the oil and gas firm of improperly changing and terminating their franchise agreements.
Hundreds of Kentucky real estate lessors accusing three energy companies of cheating them out of millions of dollars in natural gas royalties have reached a $28.7 million deal to settle their class action lawsuit.
Sedgwick Detert Moran & Arnold LLP has added a partner to its insurance practices group who joins the firm from Heller Ehrman LLP after a brief stint at DLA Piper.
A judge has refused to throw out a recruiting company's suit against Orrick Herrington & Sutcliffe LLP alleging that the firm refused to pay an agreed-upon $450,000 placement fee after hiring three attorneys recommended by the recruiter.
A federal court has dismissed a third-party complaint that Lincoln National Life Insurance Co. filed against a statutory trust to declare the insurer not liable for a slew of life insurance policies the trust asked it to rescind based on allegations that insurance agents had lied on the policy applications.
Greenwich Insurance Co. has asked a court to rule that a policy it issued to online marketing company Media Breakaway LLC does not cover a $6 million judgment against the company for engaging in an illegal spamming scheme on MySpace.
A federal judge has dismissed several infringement and other counterclaims against insect-repellent tent maker Iguana LLC in its $30 million suit against a purported patent holder, his attorneys at Kilpatrick Stockton LLP and a manufacturer that claims an exclusive license to make the so-called bednets for military use.
Even though bankrupt Delphi Corp. has reached a deal with Platinum Equity Capital Partners LP for the sale of most of its operations, a judge has reportedly told the auto parts supplier to give other bidders a shot at buying its assets.