Deals & Corporate Governance

  • January 24, 2024

    Cannabist Co. Says Suit Over $25M Deal Came Too Late

    Cannabist Company Holdings Inc. said this week an associate's lawsuit in New York federal court claiming he was never paid for his work expanding the company into Florida and securing one of the state's few medical marijuana licenses was filed too late, dooming all of his claims.

  • January 23, 2024

    Wash. Firm Must Face Suit Over Lost $1M Escrow Fund

    A Spokane, Washington, firm must face claims that it mishandled $1 million of investor funds, a federal judge in the Evergreen State has determined, saying that although the investors were not law firm clients, "pleadings are sufficient to establish that plaintiffs' injury plausibly would not have occurred but for the acts and omissions of defendants."

  • January 23, 2024

    Teva Can't Escape Insurers' Copaxone Generic Delay Case

    A Vermont federal court has refused to toss a proposed class action from insurers accusing Teva Pharmaceuticals of delaying generic versions of multiple sclerosis treatment Copaxone but trimmed several claims under various state laws.

  • January 23, 2024

    Upsized CG Oncology IPO Could Raise As Much As $306M

    Bladder-cancer therapy company CG Oncology on Tuesday increased the amount of shares it will offer in its upcoming initial public offering to 17 million, meaning it could raise as much as $306 million if priced at the high point compared to $212 million when it set terms last week.

  • January 23, 2024

    Former Police Chief Cops To Insider Trading Charges In NY

    A Massachusetts town's former police chief told a Manhattan federal judge Tuesday that he unlawfully profited from secret information about a healthcare-sector merger provided to him by a "lifelong friend," pleading guilty to insider trading charges.

  • January 23, 2024

    2nd Circ. Backs Shkreli Lifetime Pharma Industry Ban

    The Second Circuit on Tuesday backed a ruling banning former pharmaceutical executive and convicted securities fraudster Martin Shkreli from the drug industry for life, saying a repeat of his past misconduct would be "life-threatening."

  • January 23, 2024

    Weil Helps Sanofi Buy Rare Diseases Co. For Up To $2.2B

    French healthcare giant Sanofi SA said Tuesday that it will buy a U.S. company that creates therapies for so-called orphan diseases for approximately $2.2 billion in cash as it seeks to expand its rare diseases products.

  • January 22, 2024

    Claims Review Nurses Say Work Should've Garnered OT

    Nurses who review appeals of denied medical procedure authorizations for healthcare providers are misclassified as overtime-exempt, a nurse told an Ohio federal court Monday in a proposed collective action.

  • January 22, 2024

    Mallinckrodt Trust Can Pursue Covidien Clawback Claims

    A litigation trust formed when Mallinckrodt PLC left Chapter 11 bankruptcy can continue pursuing some clawback claims against Covidien Unlimited Co. alleging Covidien committed actual fraud when it spun Mallinckrodt off in 2013, a Delaware bankruptcy judge ruled.

  • January 22, 2024

    FTC Fights Bids To Toss Texas Anesthesia Roll-Up Case

    The Federal Trade Commission urged a Texas federal court not to toss the agency's antitrust case against Welsh Carson Anderson & Stowe and U.S. Anesthesia Partners, saying the private equity firm orchestrated a "roll up" strategy to create a dominant anesthesiology practice.

  • January 22, 2024

    Cancer-Focused Arrivent Biopharma Eyes $150M IPO

    Lung cancer-focused Arrivent Biopharma Inc. set a price range for its planned initial public offering Monday, saying it plans to offer 8.3 million shares at a price range of $17 to $19, meaning it could raise an estimated $150 million through its IPO.

  • January 22, 2024

    Skin Care Drug Co. Timber Gets OK For Ch. 11 Sale To Lender

    A Delaware bankruptcy judge on Monday approved dermatology drug developer Timber Pharmaceuticals' plan for a Chapter 11 sale of its assets, with the debtor telling the court it intended to close the deal with a post-petition lender by the end of the day.

  • January 22, 2024

    Sandoz To Acquire Retinal Disease Biosimilar For $170M

    Sandoz Group AG said on Monday that it will buy a therapy for retinal diseases from U.S. biopharmaceutical company Coherus BioSciences Inc. for $170 million in cash, as the Swiss-German generic drugs business seeks to strengthen its ophthalmology portfolio.

  • January 19, 2024

    Law360 Names Firms Of The Year

    Eight law firms have earned spots as Law360's Firms of the Year, with 55 Practice Group of the Year awards among them, steering some of the largest deals of 2023 and securing high-profile litigation wins, including at the U.S. Supreme Court.

  • January 19, 2024

    Law360 Names Practice Groups Of The Year

    Law360 would like to congratulate the winners of its Practice Groups of the Year awards for 2023, which honor the attorney teams behind litigation wins and major deals that resonated throughout the legal industry this past year.

  • January 19, 2024

    UPMC Accused Of 'Draconian' Antitrust Plot To Trap Workers

    The University of Pittsburgh Medical Center was hit with a proposed class action Thursday accusing it of an "an overarching anti-competitive scheme" involving a "draconian system" to trap workers in jobs with suppressed pay and heightened workloads in a bid to maintain its dominance in the region.

  • January 19, 2024

    UpHealth's 'Full Pay' Ch. 11 Plan On Horizon, Committee Says

    Bankrupt medical tech company UpHealth is in talks with its official committee of unsecured creditors to submit a Chapter 11 plan by the end of April that would pay unsecured debts in full, the committee told a Delaware bankruptcy court in a statement supporting UpHealth's request to extend its exclusive plan filing window.

  • January 19, 2024

    JP Morgan, Others Must Face Sr. Care Investors' Claims

    Claims that a group of securities underwriters were negligent in a senior health care company's initial public offering have been kept alive by a Colorado federal judge.

  • January 18, 2024

    CG Oncology Aims To Raise Up To $212M As It Sets IPO Terms

    Bladder-cancer therapy company CG Oncology set terms for its planned initial public offering Thursday, saying it intends to offer 11.8 million shares for between $16 and $18 per share, meaning it could raise up to around $212 million if priced at the high point.

  • January 18, 2024

    BridgeBio Pharma Secures $1.25B For New Drug Launch

    Public biopharmaceutical company BridgeBio Pharma announced Thursday that it has raised up to $1.25 billion in capital from Blue Owl Capital and the Canada Pension Plan Investment Board to accelerate the launch of its new heart disease medicine acoramidis.

  • January 17, 2024

    Caremark Wants Tribe's Prescription Claim Suit Arbitrated

    Caremark LLC has asked an Arizon federal court to compel arbitration of a lawsuit the Muscogee (Creek) Nation and its health department filed claiming the pharmacy benefit manager failed to pay claims for prescription drugs.

  • January 17, 2024

    Boston's Ratio Therapeutics Raises $50M Series B For R&D

    Pharmaceutical startup Ratio Therapeutics has raised a fresh round of funding, the company announced Wednesday, closing on a $50 million Series B round that will be used to expand its research and development platforms and advance a treatment to clinical trials.

  • January 17, 2024

    VC Firm Gen­er­al Cat­a­lyst To Buy Nonprofit Sum­ma Health

    General Catalyst is acquiring Ohio-based health system Summa Health, the venture capital firm announced Wednesday, in a move that will convert the nonprofit hospital system into a for-profit entity.

  • January 17, 2024

    Health Co. Says Ex-CEO Sought 'Loyalty Oaths,' Revenge

    Summit Orthopedic Home Care has filed a federal suit in Ohio accusing its ex-CEO and his "cronies" of using oppressive behavior to gain control over operations and then using internal knowledge of Summit's relationships to benefit his new home healthcare business.

  • January 17, 2024

    Brown Rudnick Launches Life Sciences Consulting Division

    A pair of biotech veterans joined Brown Rudnick LLP in October to build a new consulting office called BR BioAdvisory Services, the firm announced Wednesday.

Expert Analysis

  • Avoiding Antitrust Enforcement In Health Care Joint Ventures

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    Considering the Federal Trade Commission's recent activity in challenging hospital combinations, health care companies must be mindful of antitrust considerations unique to the industry, and employ strategies to minimize enforcement risks, say attorneys at Holland & Knight.

  • Murdaugh Trials Offer Law Firms Fraud Prevention Reminders

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    As the fraud case against Alex Murdaugh continues to play out, the evidence and narrative presented at his murder trial earlier this year may provide lessons for law firms on implementing robust internal controls that can detect and prevent similar kinds of fraud, say Travis Casner and Helga Zauner at Weaver and Tidwell.

  • Check Onboarding Docs To Protect Arbitration Agreements

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    The California Court of Appeal's recent Alberto v. Cambrian Homecare decision opens a new and unexpected avenue of attack on employment arbitration agreements in California — using other employment-related agreements to render otherwise enforceable arbitration agreements unenforceable, say Morgan Forsey and Ian Michalak at Sheppard Mullin.

  • Firm Tips For Helping New Lawyers Succeed Post-Pandemic

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    Ten steps can help firms significantly enhance the experience of attorneys who started their careers in the coronavirus pandemic era, including facilitating opportunities for cross-firm connection, which can ultimately help build momentum for business development, says Lana Manganiello at Equinox Strategy Partners.

  • Fla. Foreign Real Estate Law Brings Broad Investment Risks

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    Last month, Florida became the latest state to enact legislation prohibiting Chinese investors from acquiring certain interests in real property, introducing significant legal uncertainty and consequences for real estate stakeholders and the private equity industry, say attorneys at Simpson Thacher.

  • Tackling Judge-Shopping Concerns While Honoring Localism

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    As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.

  • How Attorneys Can Help Combat Anti-Asian Hate

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    Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.

  • Congress Needs To Enact A Federal Anti-SLAPP Statute

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    Although many states have passed statutes meant to prevent individuals or entities from filing strategic lawsuits against public participation, other states have not, so it's time for Congress to enact a federal statute to ensure that free speech and petitioning rights are uniformly protected nationwide in federal court, say attorneys at Skadden.

  • Takeaways From New Fla. Pharmacy Benefit Manager Rules

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    A recently passed Florida law imposes several new requirements on pharmacy benefit managers, necessitating practical considerations that range from potential license application delays to possible trade secret exposure, say Thomas Range and Bruce Platt at Akerman.

  • Looking For Plausibility In FTC's Amgen Merger Challenge

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    The Federal Trade Commission is seeking to block Amgen's acquisition of Horizon, alleging that, if consummated, the deal would violate Section 7 of the Clayton Act — but this may be the first merger complaint in a generation that could be dismissed for failing to state a claim, say William MacLeod and David Evans at Kelley Drye.

  • Some Client Speculations On AI And The Law Firm Biz Model

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    Generative artificial intelligence technologies will put pressure on the business of law as it is structured currently, but clients may end up with more price certainty for legal services, and lawyers may spend more time being lawyers, says Jonathan Cole at Melody Capital.

  • A Lawyer's Guide To Approaching Digital Assets In Discovery

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    The booming growth of cryptocurrency and non-fungible tokens has made digital assets relevant in many legal disputes but also poses several challenges for discovery, so lawyers must garner an understanding of the technology behind these assets, the way they function, and how they're held, says Brett Sager at Ehrenstein Sager.

  • High Court's Ethics Statement Places Justices Above The Law

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    The U.S. Supreme Court justices' disappointing statement on the court's ethics principles and practices reveals that not only are they satisfied with a status quo in which they are bound by fewer ethics rules than other federal judges, but also that they've twisted the few rules that do apply to them, says David Janovsky at the Project on Government Oversight.