Deals & Corporate Governance

  • May 28, 2024

    Medical Test Maker To Liquidate After FDA Slams COVID Kits

    Medical test maker Cue Health filed for Chapter 7 liquidation in Delaware bankruptcy court Tuesday with more than $50 million in debt, two weeks after federal regulators warned customers to throw out its COVID-19 tests due to a higher risk of false results.

  • May 28, 2024

    DC Circ. Decision May Lead To Tighter 340B Pharma Contracts

    A D.C. Circuit decision last week holding that the federal 340B drug pricing program doesn't bar drugmakers from imposing contractual conditions on contract pharmacies could embolden them to impose tougher restrictions as they try to ease the program's financial burden.

  • May 24, 2024

    Healthcare REIT Nabs $800M Despite Tenant Turbulence

    Medical Properties Trust Inc. announced Friday that the real estate investment trust has secured a £631 million ($804 million) financing from a group of investors led by real estate investment firm Song Capital, in a deal led by Goodwin Procter LLP and Slaughter and May.

  • May 22, 2024

    Doc Gets 3 Mos. For Alexion Trades Despite 'Meaningful Job'

    A doctor was sentenced to three months in prison Wednesday for insider trading on an Alexion Pharmaceuticals acquisition, with a Manhattan federal judge saying the defendant's treatment of critically ill, underserved kidney disease patients does not amount to a "get out of jail free card."

  • May 22, 2024

    Teva, Bristol-Myers Cite Bystolic Against Cancer Drug Case

    Celgene and parent Bristol-Myers Squibb pointed a New Jersey federal judge to the dismissal, recently upheld by the Second Circuit, of an antitrust suit over delayed generic competition to AbbVie's hypertension treatment Bystolic to argue the same logic applies to their bid to duck antitrust claims over cancer therapies.

  • May 22, 2024

    Covington Reps As Biogen Makes $1.8B Bet On HI-Bio

    Biogen Inc. said Wednesday it has agreed to purchase Human Immunology Biosciences, or HI-Bio, a San Francisco-based biotechnology company working on targeted therapies for severe autoimmune diseases, in a deal that could see Biogen pay up to $1.8 billion.

  • May 21, 2024

    2nd Circ. Partially Backs Win For Nurses' Union Pension Plan

    In a 90-page opinion, the Second Circuit on Tuesday mostly upheld a Manhattan federal judge's decision affirming an arbiter's award favoring a nurses' pension plan, agreeing that White Oak Global Advisors LLC must return "Day 1" fees totaling nearly $2 million and pay prejudgment interest said to top $22 million.

  • May 21, 2024

    Sens. Challenge Pharma Lobbyist Over Patent Abuse

    U.S. senators from both sides of the aisle took turns at a Tuesday hearing questioning the pharmaceutical industry's top lobbyist over whether patent abuse plays a role in maintaining the high price of prescription drugs.

  • May 21, 2024

    Wyden Expands Pharma Tax Investigation With Pfizer Inquiry

    Senate Finance Committee Chairman Ron Wyden asked Pfizer to provide details on its tax practices to explain how the drug company has consistently paid tax rates that are significantly lower than the corporate tax rate in a letter released by the committee Tuesday.

  • May 21, 2024

    Louisiana Joins States Reining In Doc Noncompetes

    A long-debated Louisiana bill designed to make it easier for doctors to move jobs while alleviating physician shortages is being welcomed by some of the big healthcare players in the state.

  • May 21, 2024

    SPAC Investor's Suit Changes Came Too Late, Chancery Rules

    A shareholder of a special-purpose acquisition company that merged with a now-defunct medical technology company in 2021 waited too long to amend his year-old proposed class action and must defend the case against a motion to dismiss in June, Delaware's Court of Chancery said Tuesday.

  • May 21, 2024

    Cano Judge Agrees To OK Ch. 11 Plan Disclosure Statement

    A Delaware bankruptcy judge agreed on Tuesday to sign off on Miami-based primary healthcare group Cano Health Inc.'s Chapter 11 disclosure statement for purposes of soliciting creditor votes once the debtor files a revised proposed order that bakes in language that garnered support from unsecured creditors.

  • May 21, 2024

    CVS Health Taps American Express Atty As Governance Chief

    The former chief governance officer at American Express announced on her LinkedIn page that she has joined CVS Health as its new senior vice president, corporate secretary and chief governance officer.

  • May 21, 2024

    Strategic Hiring Was The New Normal For BigLaw In 2023

    The 400 largest law firms by headcount in the U.S. grew more slowly in 2023 than in the previous two years, while Kirkland & Ellis LLP surpassed the 3,000-attorney threshold, according to the latest Law360 ranking.

  • May 21, 2024

    The Law360 400: Tracking The Largest US Law Firms

    The legal market expanded more tentatively in 2023 than in previous years amid a slowdown in demand for legal services, especially in transactions, an area that has been sluggish but is expected to quicken in the near future.

  • May 20, 2024

    Teladoc Faces Suit Over Mental Health Platform's Losses

    Telemedicine giant Teladoc Health Inc. and two of its executives face a proposed investor class action alleging trading prices for Teladoc shares fell after the company disclosed that its flagship mental health counseling platform saw membership and revenue declines despite increased advertising costs.

  • May 20, 2024

    Healthcare Futures Co. Sues Breakaway Ex-Members In Del.

    A company seeking to develop what it described as the first healthcare futures exchange has sued two former managers in Delaware's Court of Chancery for pilfering intellectual property and other resources and then launching a competing venture.

  • May 20, 2024

    Ga. Judge OKs $5M Atty Fees In $41M Acella Thyroid Deal

    A Georgia federal judge has signed off on a nearly $41.5 million class action settlement with Acella Pharmaceuticals LLC over faulty thyroid medication, while awarding the class attorneys another $5 million in legal fees courtesy of the pharma company.

  • May 20, 2024

    Shah Ends Novavax Proxy Fight Following Sanofi Deal

    Hedge fund Shah Capital Management Inc. told fellow Novavax Inc. shareholders Monday that it is ending its fight to remove certain members of the biotech company's board, citing its favorable view of Novavax's licensing deal with Sanofi earlier this month.

  • May 17, 2024

    Pfizer Unit Wins $107.5M Patent Verdict Against AstraZeneca

    A Delaware federal jury on Friday said that AstraZeneca Pharmaceuticals LP should pay $107.5 million in royalty damages for infringing a Pfizer-brand cancer treatment patent, although a final decision won't be issued until after a bench trial on some of AstraZeneca's additional defenses. 

  • May 17, 2024

    Steward Health Ch. 11 Lifts Lid On PE In Healthcare

    Steward Health's $9 billion Chapter 11 has come under scrutiny from state attorneys general seeking to uncover why a once-rapidly growing hospital network ended up buried in debt, with authorities taking the unusual tack of turning a special eye toward its former private equity owner Cerberus Capital Management, experts told Law360.

  • May 17, 2024

    Healthcare Co. Sues Steward In Ch. 11 Over Military Contract

    A healthcare company that provides services to members of the military and their families sued debtor Steward Health Care on Thursday in Texas bankruptcy court, asking a judge there to declare that the provider properly terminated a subcontract with Steward due to its declining financial state.

  • May 17, 2024

    EndoStim Emerges From Delaware Insolvency Proceeding

    Delaware's Court of Chancery has approved the final accounting for medical device company EndoStim Inc.'s state-administered insolvency proceeding after no creditor or other party raised any objections at a final hearing on Friday.

  • May 17, 2024

    Cano Health Strikes $7M Deal With Unsecured Creditors

    A Delaware bankruptcy judge said Friday that she was prepared to send Cano Health Inc.'s Chapter 11 plan out for a creditor vote after hearing the medical care group has reached a $7 million settlement with its unsecured creditors.

  • May 16, 2024

    3rd Circ. Shuns Teva's 'Novel' Appeal On Israeli Investor Class

    The Third Circuit on Thursday turned away an appeal brought by Teva Pharmaceutical Industries Ltd., saying the class certification stage was not the right time to hear arguments over the "novel" question of the applicability of U.S. securities laws to Israeli-listed shares.

Expert Analysis

  • The Pop Culture Docket: Judge D'Emic On Moby Grape

    Author Photo

    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • Navigating Asset Tracing Challenges In Bankruptcy

    Author Photo

    A Virginia court’s recent ruling in Health Diagnostic Laboratory Inc.'s bankruptcy highlights the heightened demand for asset tracing and the strategic use of the lowest intermediate balance rule in recovering funds from commingled accounts, says Daniel Lowenthal at Patterson Belknap.

  • Performing Music Makes Me A Better Lawyer

    Author Photo

    The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.

  • 'Patient' Definition Ruling Raises Discount Drug Questions

    Author Photo

    A South Carolina federal court's recent decision in Genesis Health Care v. Becerra supports a broader definition of a "patient" eligible to receive discounted drugs under the Section 340B program, but raises a host of novel questions regarding how the decision will affect covered entities and enforcement actions, say attorneys at McDermott.

  • Breaking Down High Court's New Code Of Conduct

    Author Photo

    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

  • Legal Profession Gender Parity Requires Equal Parental Leave

    Author Photo

    To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.

  • Activist Short-Sellers Are The Dark Knights Of Wall Street

    Author Photo

    While so-called activist short-sellers have been subject to increased scrutiny in recent years, these investors work in the shadows like Batman to expose fraud on Wall Street, often generating leads that may move regulators to take action, say attorneys at Labaton Sucharow.

  • Writing Thriller Novels Makes Me A Better Lawyer

    Author Photo

    Authoring several thriller novels has enriched my work by providing a fresh perspective on my privacy practice, expanding my knowledge, and keeping me alert to the next wave of issues in an increasingly complex space — a reminder to all lawyers that extracurricular activities can help sharpen professional instincts, says Reece Hirsch at Morgan Lewis.

  • What Lawyers Must Know About Calif. State Bar's AI Guidance

    Author Photo

    Initial recommendations from the State Bar of California regarding use of generative artificial intelligence by lawyers have the potential to become a useful set of guidelines in the industry, covering confidentiality, supervision and training, communications, discrimination and more, say attorneys at Debevoise.

  • Industry Must Elevate Native American Women Attys' Stories

    Author Photo

    The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
    Author Photo

    Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.

  • Employer Lessons After 2023's Successful Labor Strikes

    Author Photo

    Following recent historic strikes in the automotive, entertainment and health care industries, employers of all types can learn key insights about how unions may approach negotiations and strikes going forward, and nonunionized workplaces should anticipate a drive for increased union membership, say Lenny Feigel and Mark Neuberger at Foley & Lardner.

  • ESG Around The World: Mexico

    Author Photo

    ESG has yet to become part of the DNA of the Mexican business model, but huge strides are being made in that direction, as more stakeholders demand that companies adopt, at the least, a modicum of sustainability commitments and demonstrate how they will meet them, says Carlos Escoto at Galicia Abogados.