A New Jersey federal judge on Thursday refused to toss a putative class action accusing Novo Nordisk of misleading shareholders about its financial sustainability in the U.S. market, ruling that the investors had sufficiently alleged that the Danish insulin maker made materially misleading statements about its rebate program and the pricing pressures facing its drug Tresiba.
Buchalter PC’s Los Angeles office has added two new attorneys as shareholders, one from Clark & Trevithick AP and one from Rimon Law, entering the firm’s corporate and litigation practice groups, respectively.
In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Patrick DiDomenico, chief knowledge officer at Ogletree Deakins Nash Smoak & Stewart PC.
The U.S. Securities and Exchange Commission said in an order on Wednesday that investment adviser and broker-dealer Ameriprise Financial Services Inc. will pay $4.5 million to settle charges that it failed to stop its own representatives from stealing retail investor assets.
ExamWorks Group Inc. has asked the Delaware Chancery Court to sanction investors seeking an appraisal of their stock connected to the company’s $2.2 billion go-private sale, claiming they should not be paid statutory interest because of a delay caused by their withholding of “highly damaging” documents.
A Florida federal judge on Tuesday entered a default judgment against Monkey Capital LLC, which a group of investors say pocketed $1.17 million worth of cryptocurrency investments meant for an initial coin offering and the launch of a private cryptocurrency exchange that never happened.
A bankruptcy court finding that Bear Stearns & Co. Inc. acted in good faith when it repurchased securities from former debtor HomeBanc Mortgage Corp. in 2007 was upheld Tuesday when a Delaware federal judge said the lower court did not misapply the law or make errors of fact.
The Third Circuit refused Wednesday to disturb a victory for investment advisers in beating a proposed class action over mutual fund management fees, saying a district court properly found that the shareholders behind the suit failed to show the fees were excessive for the services provided.
A reargument of a Chancery Court post-merger appraisal of AOL Inc. added to dissenting stockholders’ loss Wednesday, with a $47.08-per-share ruling that saw 3.3 percent nicked off the already below-deal amount that some investors were left with after trial.
Holland & Knight LLP has hired a Reed Smith LLP partner with 30 years of experience as a trial attorney representing major clients like Uber Technology Inc. in bet-the-company litigation to head the firm’s Philadelphia regional litigation team, Holland & Knight said Tuesday.
A legislative proposal allowing the Small Business Administration to guarantee loans to small businesses transitioning to employee-owned companies became law on Monday when President Donald Trump signed the 2019 defense budget bill, which had incorporated the proposal as an amendment.
A New York federal judge on Tuesday refused to let former Katten Muchin Rosenman LLP attorney Evan Greebel duck charges that he aided now-imprisoned former pharmaceutical executive Martin Shkreli in defrauding Retrophin Inc., finding that the jury had plenty of reasons to convict the corporate lawyer.
A proposed class of investors urged an Ohio federal judge Tuesday not to drop its suit alleging Meridian Biosciences Inc.'s cover-up of crucial flaws in the product line of a recently acquired test systems business led to a stock drop, saying the company is only trying to distract the court with its dismissal bid.
A Dominican national charged with impersonating U.S. Securities and Exchange Commission employees to defraud people out of hundreds of thousands of dollars was sentenced on Wednesday in Boston federal court to five years and three months in prison, the U.S. Department of Justice announced.
Hausfeld LLP and Susman Godfrey LLP will decide how to dole out a nearly $60 million award for attorneys' fees and expenses approved by a New York federal judge Tuesday from $250 million in multidistrict litigation settlements between Citigroup, Barclays and investors suing over rigging of the London Interbank Offered Rate.
A former NBA player has called on a New Jersey federal court to throw out his conviction and nine-year prison sentence for bilking real estate investors out of more than $2 million in a Ponzi scheme, citing allegedly ineffective legal assistance by his former attorney and purportedly false testimony by government witnesses.
The CEO of Energy Transfer Partners LP has moved to quash a subpoena seeking documents from the company in his personal $20 million fraud suit against Advanced Particle Therapy LLC, saying the material is irrelevant to the case and the subpoena is harassment against the company.
A Manhattan jury convicted Norman Seabrook of bribery Wednesday, finding the once-powerful head of the Correction Officers' Benevolent Association favored now-bankrupt hedge fund Platinum Partners with $20 million of union capital in exchange for a man-purse stuffed with $60,000 in cash.
Thousands of workers who accused Deutsche Bank of steering their retirement savings into expensive and poorly performing proprietary funds told a New York federal court they had struck a $21.9 million deal to resolve their Employee Retirement Income Security Act class action.
A well-known cryptocurrency investor slapped AT&T with a nearly $224 million lawsuit in California federal court Wednesday, alleging that the carrier’s failure to provide adequate data security, despite previously suffering high-profile privacy incidents, allowed for the theft of millions in digital currency from his accounts.
Following a July hearing by the House Committee on Agriculture on the regulation of cryptocurrencies and blockchain technology, Todd Friedman of Silver Miller recaps the views of various stakeholders — from the former head of JPMorgan's blockchain program to a former chairman of the U.S. Commodity Futures Trading Commission.
As clerks for Justice Ruth Bader Ginsburg, we learned early on that, when preparing a memorandum or draft opinion, it was essential to present any opposing argument in its strongest possible light. There is a lesson here for today's public debates, says Trevor Morrison, dean of NYU Law School.
Last week, a number of amendments to the Delaware Limited Liability Company Act and the Delaware General Corporation Law became effective. Allison Land and Anne Connolly of Skadden Arps Slate Meagher & Flom LLP discuss the five major changes impacting companies.
The recent Ninth Circuit opinion in Altera Corp. v. Commissioner of Internal Revenue reaffirms the increasing significance of general administrative law principles in tax cases and marks a substantial departure from the arm’s-length standard for U.S. transfer pricing analysis for the past 80 years, say attorneys at Shearman & Sterling LLP.
U.S. District Judge Manish Shah of the Northern District of Illinois recently said he will consider lead firms’ willingness to put young and diverse attorneys in positions to take substantive roles in the multidistrict litigation he is overseeing. This is an improper use of judicial power, says J.B. Heaton, a University of Chicago business law fellow and former partner at Bartlit Beck.
The confirmation of Judge Brett Kavanaugh to the U.S. Supreme Court will likely result in further solidification of the current administration's limited regulatory approach and represent a more pronounced shift toward supporting the decisions of financial institutions in conducting business, say attorneys with Eversheds Sutherland.
I clerked for Justice Ruth Bader Ginsburg before the days of RBG bobbleheads and “You Can’t Spell Truth Without Ruth” T-shirts. I had no idea I would become a judge, and I feel lucky every day that I had the chance to learn from her, says California Supreme Court Justice Goodwin Liu.
The U.S. Securities and Exchange Commission has proposed a rule that would allow exchange-traded funds to operate without obtaining an exemptive order from the commission. While this is a welcome development, further guidance may be necessary to truly level the competitive playing field, say attorneys with K&L Gates LLP.
A lot has changed since I clerked for Justice Ruth Bader Ginsburg 20 years ago. At that time, I had hair and no wife. I also thought I knew everything — but working for the justice made me realize very quickly that I actually knew very little, says Ninth Circuit Judge John Owens.
The Ninth Circuit recently issued a second opinion in Slone v. Commissioner, the latest in a long-running dispute, ruling that a company’s former shareholders were liable as transferees for its unpaid taxes. The case illustrates the important role that transferee liability plays in civil tax enforcement and illustrates the willingness of courts to focus on substance, not form, in transferee cases, says James Malone Jr. at Post & Schell PC.