An investor and a police pension fund hit Centene Corp. with a derivative lawsuit in Missouri federal court on Friday, claiming the Medicaid insurer knowingly misstated Health Net's business before its $6.8 billion merger and hid the fact that it was taking on millions in liability.
A man who entered a guilty plea in September to setting up a shell corporation in order to embezzle $1.3 million from his employer was sentenced to 41 months in federal prison Friday and ordered to pay $1.4 million in restitution, to cover the company's losses and the cost of investigating the theft.
A Brooklyn federal judge has shot down a suit seeking to block a merger between a subsidiary of Magellan Health Inc. and senior care company AlphaCare of New York, ruling that the case couldn't go forward without AlphaCare's involvement.
A Texas federal judge on Friday extended an asset freeze and other emergency measures put in place earlier this year for AriseBank and its top executives after the U.S. Securities and Exchange Commission accused them of running an illegal and fraudulent initial coin offering.
Foot Locker Inc. didn’t tell investors crucial information about its vendor's transition to online sales and its financial health, which caused the shoe retailer’s stock price to drop after it later shared the information, a pension fund alleged Friday in New York federal court.
A group of investors led by a Chicago trading firm on Friday alleged that a slew of unknown traders have spent years manipulating the Chicago Board Options Exchange Volatility Index by exploiting alleged weaknesses in the way the exchange calculates settlement prices on VIX futures and options.
The U.S. Securities and Exchange Commission on Friday said an Israeli real estate development company violated provisions of the Foreign Corrupt Practices Act in several past deals, but said the company’s subsequent cooperation and remedial work went a long way to cap its fine at $500,000.
A former Auburn University basketball coach named in the sprawling NCAA corruption case urged a New York federal judge Friday to dismiss the bribery and fraud charges against him, saying prosecutors’ interpretation of anti-corruption laws violates his due process rights and “would criminalize nearly every NCAA rules violation.”
A stock investor in La Quinta Holdings Inc. hit the hospitality company with a putative class action Friday in Texas federal court over its nearly $2 billion acquisition by Wyndham Worldwide Corp., alleging that a proxy statement related to the proposed transaction is false and misleading.
It’s more of a norm than a rule. Its use has shifted over time, often with political winds. But the once-obscure Senate tradition is now front and center in the boiling debate over the future of the judiciary.
More federal judges are skipping the golf course to head back to the courtroom upon taking senior status, and they're playing an increasingly vital role in a strained system.
Although President Donald Trump set a record with the number of circuit judges he named during his first year, experts say that's not the whole story. Here’s our data-driven look at what the White House faces in its quest to reshape the appeals courts.
A 25-year-old Virginia man was sentenced Friday in New York federal court to two years in prison for orchestrating a $100 million market manipulation scheme that quickly drove up the price of Fitbit Inc. stock, netting him about $4,000.
The Delaware Chancery Court on Friday tossed a stockholder suit challenging the fairness of Rouse Properties Inc.’s $2.8 billion sale last year to Brookfield Asset Management Inc., finding the plaintiffs failed to show that Brookfield, which already owned 33.5 percent of Rouse’s stock, controlled the deal.
Wells Fargo Bank NA has urged a New York federal judge to adopt a magistrate judge’s report recommending that class action status be denied for Royal Park Investments’ suit accusing the bank of bungling its duties as trustee to two residential mortgage-backed securitization trusts.
Just months after the dismissal of a multimillion dollar New York state suit against Husch Blackwell LLP over claims the firm aided a client’s fraud, the same group of plaintiff-investors on Friday sued the health sector executive at the center of the previous action.
A father and son pled guilty Friday in New York federal court to defrauding a group of lenders through false “borrowing base” reports designed to secure a $400 million line of credit for their cocoa trading company, Transmar Commodity Group Ltd., and face a maximum of 30 years in prison.
Aronberg Goldgehn Davis & Garmisa, Bracewell LLP, Miles & Stockbridge PC, Polsinelli PC and Sidley Austin LLP are among the firms that have seen their life sciences and health teams grow in the last few weeks.
The ringleader of a stock-trading operation on Friday copped to his role in a $3 million scheme that involved violating confidentiality agreements with investment banks and short-selling securities before offerings were publicly disclosed, New Jersey’s federal prosecutor announced.
A New York federal judge ruled Thursday that three Triaxx collateralized debt obligation issuers have run out of chances on their $280 million suit alleging U.S. Bank NA and the Bank of New York Mellon dropped the ball as trustees to several dozen residential mortgage-backed securitization trusts.
Last week, the District of Delaware raised eyebrows by ruling that documents provided to a litigation funder and its counsel in connection with their due diligence are categorically not attorney work product. Acceleration Bay v. Activision Blizzard seems to be a case of bad facts making bad law, says David Gallagher, investment manager and legal counsel for Bentham IMF.
Over the past year, the U.S. Securities and Exchange Commission investigations and enforcement space has seen a number of developments that are likely to have transformative effects, some of which have garnered a great deal of commentary. Kurt Wolfe of Allen & Overy LLP highlights three issues that have received less attention.
Establishing a causal link between allegedly wrongful conduct and the quantity of damages asserted can be challenging. Fortunately, increasing volumes of real-world data are available to the damages expert, and natural experiments based on such data can be effective in showing causality and estimating damages, says Niall MacMenamin of Analysis Group Inc.
In the wake of the financial crisis, the U.S. and Europe enacted “risk retention” rules that require sponsors of securitization vehicles to maintain a financial interest in those vehicles. Here, attorneys with Cadwalader Wickersham & Taft LLP look at the “capitalized management vehicle” structure that many collateral managers are using to comply with the rules, and the likely impact of a recent D.C. Circuit ruling.
Kokesh changed the paradigm for remedies in U.S. Securities and Exchange Commission enforcement actions, but the potential ramifications go well beyond what initially meets the eye. As we are starting to see, Kokesh's full impact will not be limited to disgorgement or the SEC, say attorneys with King & Spalding LLP.
Artificial intelligence tools can empower attorneys to work more efficiently, deepen and broaden their areas of expertise, and provide increased value to clients, which in turn can improve legal transparency, dispute resolution and access to justice. But there are some common pitfalls already apparent in the legal industry, say Ben Allgrove and Yoon Chae of Baker McKenzie.
Retail and consumer products companies can no longer afford to ignore blockchain as a passing trend. From tracing the source of a defective item, to verifying products' authenticity, to simplifying international shipping, to streamlining consumer loyalty programs, blockchain is increasingly becoming a valuable tool, say Scott Kimpel and Mayme Beth Donohue of Hunton & Williams LLP.
The U.S. Supreme Court's decision last year in Kokesh had immediate effects on the U.S. Securities and Exchange Commission’s ability to seek disgorgement in enforcement actions. On the other hand, defendants have had little success when seeking to amend previously awarded disgorgement amounts, say attorneys with King & Spalding LLP.
Contractual nonreliance provisions, sometimes called “big boy” letters, have received their fair share of attention, but little attention has been paid to the effect forum selection and choice-of-law issues have on such provisions. The choice of where to litigate and which law will govern can significantly impact, if not conclusively determine, the outcome of a dispute, say Amy Park and Niels Melius of Skadden Arps Slate Meagher & Flom LLP.
In "Justice and Empathy: Toward a Constitutional Ideal," the late Yale Law School professor Robert Burt makes a compelling case for the undeniable role of the courts in protecting the vulnerable and oppressed. But the question of how the judiciary might conform to Burt’s expectations raises practical problems, says U.S. Circuit Judge Allyson Duncan of the Fourth Circuit.