Chembio Diagnostics Inc., a point-of-care diagnostics company that saw its stock price explode in the early stages of the coronavirus pandemic, was sued Thursday after authorization for its COVID-19 antibody test was revoked by the U.S. Food and Drug Administration.
In this week's Taxation With Representation, a Chinese private equity group acquires an ads business for $8.7 billion, foods brand Tattooed Chef inks a $482 million merger, and Australia's Ardent Leisure takes a stake in an American restaurant business.
Three investors in a company attempting to create a Chicago branch of legendary New York food-cart chain Halal Guys have sued the business in Illinois federal court, saying it misrepresented its franchise deal and mismanaged three restaurants so badly that they went out of business.
MSD Partners has wrapped up a real estate fund with north of $1.1 billion in commitments as the firm, which is affiliated with Michael Dell, looks to tap into opportunities to originate and buy commercial real estate loans, according to a Friday announcement from the company.
Robbins Geller Rudman & Dowd LLP, with an assist from Saxton & Stump, will represent a proposed class of shareholders in a suit alleging Inovio Pharmaceuticals Inc. inflated its stock price by confusing the public with claims about a "three-hour" development timeline for a COVID-19 vaccine.
The head of the Consumer Financial Protection Bureau put so-called furnishers of consumer mortgage information and credit reporting agencies on notice Friday, urging them to field complaints in a timely manner and to comply with pandemic-related disclosure and reporting obligations amid record numbers of consumer complaints.
The past week in London has seen the Vatican dragged into court by companies connected to a real estate deal that has come under criminal scrutiny, an investment company lodge an appeal following a legal setback in a painting dispute with a London art dealer, and a spread betting service sue tycoon Robert Tchenguiz. Here, Law360 looks at those and other new claims in the U.K.
Blank-check initial public offerings are generating a growing share of IPOs at ever-larger sizes despite pandemic-related disruptions, aided by more household names that are embracing this alternative financing vehicle to fund acquisitions. Here Law360 examines three trends underlying the boom in blank-check IPOs.
Victoria's Secret's parent company L Brands' "hostile, abusive environment rife with sexual harassment" has irreparably harmed the reputation of the lingerie company and wrecked plans to spin it off, according to a derivative shareholder suit removed to Ohio federal court Wednesday.
A Third Circuit panel on Thursday reluctantly revived a proposed class action alleging merger documents filed by M&T Bank Corp. and Hudson City Bancorp failed to properly inform investors about key details of the two banks' combination plan.
Expanding the "accredited investor" definition could be an effective tool for increasing women and minority-owned businesses' access to capital, an entrepreneur who backs businesses led by underrepresented groups told a U.S. Securities and Exchange Commission forum on Thursday.
The White House nominated Caroline A. Crenshaw, senior counsel for the U.S. Securities and Exchange Commission, on Thursday to fill the Democratic commissioner seat vacated by Robert Jackson earlier this year.
Princess Cruise Lines wants out of a negligence suit brought by passengers, consumers seeking refunds of ski trips and flights canceled due to the coronavirus pandemic want to consolidate a growing number of similar cases, and a D.C. federal judge says the U.S. Department of the Treasury can't hold back $679 million in COVID-19 relief funds from tribal governments.
Embattled cannabis giant MedMen said it settled an investor lawsuit claiming the company's now-former leaders enriched themselves at the expense of other shareholders, an announcement that coincided with co-founder Adam Bierman's resignation from the board of directors.
Hertz Global Holdings Corp. late on Thursday dropped its plan to issue up to $1 billion in new and potentially doomed stock to finance its global business and Chapter 11 bankruptcy case in Delaware, days after the U.S. Securities and Exchange Commission said the agency planned to review the proposal.
The D.C. Circuit ruling earlier this week striking down the U.S. Securities and Exchange Commission's two-year fee pilot program "disappoints" some market players, but the regulator will take the court's cue to address potential issues posed by the current regulatory regime through further data analysis, SEC officials said Thursday.
A Massachusetts federal judge said he will hire a lawyer to defend his order reducing a class action fee by $15 million following a $300 million State Street Corp. settlement, after Lieff Cabraser Heimann & Bernstein LLP appealed part of the ruling.
Walmart has been hit with two complaints in Delaware Chancery Court from investors seeking records to shine light on the retail giant's role in potentially worsening the nation's opioid crisis.
Deutsche Bank AG will pay more than $10 million in fines to resolve a pair of cases separately accusing it of swap data reporting violations and spoofing in the futures market, the U.S. Commodity Futures Trading Commission said Thursday.
A New York federal judge on Wednesday granted most, but not all, of the requests for permanent redaction in a U.S. Securities and Exchange Commission suit aimed at stopping an allegedly illegal digital asset securities offering by encrypted messaging company Telegram Group Inc.
Former Sentinel Management Group Inc. CEO and convicted fraudster Eric Bloom urged an Illinois federal court to grant him early release over COVID-19 concerns, saying his heart condition puts him at increased risk and that his prison recently backtracked on a promise of home confinement.
A DOJ Office of the Inspector General audit report released Wednesday found that the U.S. Drug Enforcement Administration's undercover operations involving digital currencies lacked proper supervision and internal controls, two years after an ex-DEA agent was convicted of stealing $700,000 in cryptocurrency.
A pension fund shareholder of Tesla Inc. sued Elon Musk and company directors in Delaware's Chancery Court late Wednesday to seek repayment of what it said were years of "outrageous" board stock awards that cost the company hundreds of millions of dollars.
Sen. Kelly Loeffler, R-Ga., didn't break the law or Senate rules with stock trades she made after early briefings on the coronavirus pandemic, the Senate's bipartisan ethics committee said Tuesday.
The Third Circuit on Tuesday questioned the enhanced prison sentence for a former Vanguard Group employee convicted of stealing $2.1 million from dormant accounts, pushing back on the government's argument that he'd abused a position of trust while concealing the source of the funds.
Attorneys at WilmerHale analyze Securities Act complaints against companies that went public immediately prior to and during the COVID-19-induced market volatility, providing preliminary insights into whether, when and on what basis recent issuers are facing securities litigation.
The COVID-19 shift to remote witness testimony in white collar and U.S. Securities and Exchange Commission investigations changes how both sides handle documents, investigate and interact, and will require defense lawyers to reconsider how they present their clients, say attorneys at Richards Kibbe.
History suggests that legal malpractice claims will rise following the current economic downturn, and while a certain percentage of the claims will be unavoidable, there are prophylactic steps that law firms can take, says John Johnson at Cozen O'Connor.
The U.S. Supreme Court’s upcoming opinion in Liu v. U.S. Securities and Exchange Commission may call into question when Foreign Corrupt Practices Act settlements should be subject to disgorgement, say Matthew Rutter and Neal Hochberg at Charles River Associates.
Concerns that videoconferenced arbitration hearings compromise an arbitrator's ability to reliably resolve credibility contests are based on mistaken perceptions of how many cases actually turn on credibility, what credibility means in the legal world, and how arbitrators make credibility determinations, says Wayne Brazil at JAMS.
Lawyers investigating allegations of a company's internal misconduct typically hand over their search term lists to outside auditors and government enforcers, but this puts clients' privilege arguments at risk, say Markus Funk and Chelsea Curfman at Perkins Coie.
Luckin Coffee and TAL Education Group — two high-profile Chinese companies listed in the U.S. — recently announced suspected cases of colossal revenue fraud, and these case studies may help companies recognize the germinating seeds of accounting fraud, say Fabian Roday at Fangda Partners and William Fotherby at Meredith Connell.
A recent commitment from the European Union's commissioner for justice to introduce rules for mandatory corporate human rights due diligence next year may signal the arrival of this issue as a global business imperative, making it as fundamental as anti-corruption diligence, say attorneys at Paul Hastings.
The U.S. Commodity Futures Trading Commission recently singled out agricultural commodities market manipulation as an area of focus, potentially representing a return to the agency’s core mission that could shape enforcement during the current crisis, say attorneys at Latham.
Ensuring uninterrupted client service and compliance with ethical obligations in a time when attorneys are more likely to fall ill means taking six basic — yet often ignored — steps to build some redundancy and internal communication into legal practice, say attorneys at Axinn.
Alexandre Lamy at Baker McKenzie proposes a common-sense framework for nonfinance companies, which in 2019 became subject to the Office of Foreign Assets Control's rejected-transaction reporting requirements, but have received little guidance about how to comply.
Many remote meeting technologies include recording features as default settings, raising three primary concerns from a legal discovery and data retention perspective, and possibly bringing unintended consequences for companies in future litigation, says Courtney Murphy at Clark Hill.
Companies and creditors in search of funding during the pandemic should analyze available options under existing bond and term loan covenants, and explore creative ways to establish priority status where necessary in the critical search for liquidity, say attorneys at Shearman.
Despite the general ubiquity of performance-based vesting in the capital structures of post-buyout and other growth companies, it is surprising how little attention is often paid to how performance vesting actually works, say John LeClaire and Chris Wilson at Goodwin.
When the dark cloud of COVID-19 has passed and resolution centers are once again peopled with warring parties and aspiring peacemakers, remote mediations will likely still be common, but they are not going to be a panacea for all that ails the dispute resolution industry, says Mitch Orpett at Tribler Orpett.