Deals & Corporate Governance
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January 31, 2025
Supreme Court Eyes Its 'Next Frontier' In FCC Delegation Case
A case about broadband subsidies will give the U.S. Supreme Court the chance to revive a long-dormant separation of powers principle that attorneys say could upend regulations in numerous industries and trigger a power shift that would make last term's shake-up of federal agency authority pale in comparison. And a majority of the court already appears to support its resurrection.
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January 31, 2025
Owners Appeal Docs Order In Yale's $435M Hospital Sale Fight
Three companies that own property occupied by bankrupt Prospect Medical Holdings Inc. hospitals in Connecticut have appealed a state trial court judge's order to provide documents to Yale New Haven Health in a fight over a $435 million purchase agreement.
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January 31, 2025
Investors Say Walgreens Misled Over Prescription Misuse
A putative class of Walgreens shareholders has sued the retail giant in Illinois federal court, claiming it made false statements about its regulatory compliance and that stock prices fell in the wake of the federal government's allegations that Walgreens knowingly filled millions of invalid prescriptions for opioids and other controlled substances.
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January 31, 2025
Taxation With Representation: Cravath, Gibson Dunn, Milbank
In this week's Taxation with Representation, Eversource Energy sells Aquarion Water Co., Diversified Energy Partners acquires oil and gas company Maverick, Lantheus Holdings buys Evergreen Theragnostics, and NASCAR champion Jimmie Johnson becomes the majority owner in the Legacy Motor Club racing team.
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January 30, 2025
MoFo Guides Welltower's $900M Senior Living REIT Deal
Healthcare real estate investment trust Welltower Inc. plans to acquire NorthStar Healthcare Income Inc., a senior living facility REIT, in a $900 million deal led by Morrison Foerster LLP.
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January 29, 2025
KKR Plugs $250M Into Healthcare Biz Henry Schein
Healthcare solutions provider Henry Schein Inc., advised by Cleary Gottlieb Steen & Hamilton LLP, on Wednesday announced that it received a $250 million investment from Kirkland & Ellis LLP-led private equity giant KKR, resulting in the private equity shop becoming the company's largest non-index fund shareholder.
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January 28, 2025
GSK Urges Del. Judge To Enhance $235M Skinny Label Win
GlaxoSmithKline LLC is urging a Delaware federal judge to enhance the $235 million damages award a jury issued against Teva Pharmaceuticals USA Inc. in 2017, now that the dispute over skinny label infringement has returned to district court.
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January 28, 2025
Pharma Co. Gets Final Shot To Ax NC Contract Breach Suit
A pharmaceutical company can make another attempt to escape a software developer's suit alleging he was duped into selling his technology to the company, the North Carolina Business Court has said, months after the state's top court revived the software maker's breach of contract claims.
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January 28, 2025
Bain Capital Seeks Surgery Partners Buyout At $3.3B Value
Tennessee-based short-stay surgical facility operator Surgery Partners Inc. disclosed Tuesday that its board received a nonbinding proposal the prior day from Bain Capital Private Equity LP that values the company at close to $3.3 billion.Â
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January 28, 2025
Creditors Can Join Nostrum Sale Talks, Ch. 11 Judge Rules
A bankruptcy judge on Tuesday approved a bid from the official committee of unsecured creditors in drugmaker Nostrum Laboratories Inc.'s Chapter 11 case to help investment bank Raymond James find a buyer for the debtor's assets.
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January 28, 2025
4 Firms Look To Build $1B Sale Of Evergreen Theragnostics
Radiopharmaceutical-focused healthcare company Lantheus Holdings Inc. on Tuesday announced plans to buy Evergreen Theragnostics Inc. for up to $1 billion or more in a deal steered by four law firms.
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January 27, 2025
Jury Will Decide $140M Intuitive Robo-Surgery Antitrust Case
A federal judge on Monday rejected dueling requests for directed verdicts at the wrap of a $140 million antitrust trial over claims that Intuitive Surgical abused its market power in barring a repair provider's refurbished part for Intuitive's surgery robot, saying there's "substantial evidence" for jurors to decide on the parties' claims and counterclaims.
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January 27, 2025
Obesity-Focused Metsera Leads Biotech Firms Eyeing IPOs
Obesity-focused drug developer Metsera launched plans on Monday for an estimated $275 million initial public offering, joined by kidney-disease focused Maze Therapeutics, both of which plan to tap the markets this week under combined guidance of four law firms.
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January 27, 2025
Novo Nordisk's Obesity Drug Study Allegedly Duped Investors
Novo Nordisk was hit with a proposed securities class action in New Jersey federal court Friday, accusing the drugmaker of duping investors about its new weight loss drug CagriSema by failing to disclose that obesity patients were taking different dosages in a clinical study, which allegedly skewed results.
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January 27, 2025
PureHealth Nabs Majority Stake In HHG In $2.3B Deal
Middle Eastern healthcare group PureHealth Holding PJSC on Monday announced plans to buy a majority stake in Freek and Cypriot healthcare provider Hellenic Healthcare Group in a deal that values HHG at $2.3 billion.
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January 24, 2025
Biotech Co. Defends Antitrust Counterclaims Against Rival
Biotech company Zymo Research Corp. is defending its claims that German diagnostic competitor Qiagen GmbH's infringement suit is nothing more than an attempt to discredit a competitor, saying Zymo offered to prove it wasn't ripping off Qiagen's tech, only to have Qiagen bury "its head in the sand" and file suit.
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January 23, 2025
Ex-J&J Exec Accused Of File Theft Has Died, Court Told
A former competitive strategy director for Johnson & Johnson accused of stealing confidential files when he left the company to work for Pfizer has died, according to a court filing.
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January 22, 2025
10th Circ. Affirms Toss Of Surgical Assistants' Antitrust Suit
The Tenth Circuit on Tuesday refused to revive an antitrust lawsuit against a national surgical certification board accused of monopolizing a surgical assistants and technicians accreditation and certification market, saying in a published opinion that the Association of Surgical Assistants' failure to establish a relevant market doomed its antitrust claims.
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January 22, 2025
Fla. Court Proposes $19M In Damages In Spinal Products Suit
A Florida federal judge has recommended that the principal of spine medical equipment companies pay $19.3 million in damages after allegedly breaching an agreement and forming a direct competitor to a business he previously contracted with for exclusive distribution of its products.
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January 22, 2025
Vanda Loses Takings Clause Arguments In Trade Secret Fight
A Court of Federal Claims judge has held that specifications on how fast Vanda Pharmaceuticals' drugs dissolve do not count as property interest under the Fifth Amendment, handing a loss to the pharmaceutical company in its trade secrets case against the federal government.
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January 22, 2025
Cooley-Led Insulin Device Maker Preps $113M IPO
Insulin delivery system maker Beta Bionics on Wednesday announced the terms for its initial public offering, planning to raise $113 million.
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January 21, 2025
Cautious Optimism Permeates JPM Health Conference 2025
Law360 Healthcare Authority talked with a dozen attorneys across seven firms during this year's J.P. Morgan Healthcare Conference to ask what they were hearing and how that could affect dealmaking for the rest of the year. Here's what we learned.
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January 21, 2025
Calif. Appeals Court Reinstates Nurses' Wage Suit
A California appeals court upended a hospital operator's win on some claims in nurses' wage and hour lawsuit, saying the nurses put forward enough evidence to show their employer's rounding policy resulted in their underpayment.
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January 17, 2025
Law360 Names Practice Groups Of The Year
Law360 would like to congratulate the winners of its Practice Groups of the Year awards for 2024, which honor the attorney teams behind litigation wins and significant transaction work that resonated throughout the legal industry this past year.
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January 17, 2025
Law360 Names Firms Of The Year
Eight law firms have earned spots as Law360's Firms of the Year, with 54 Practice Group of the Year awards among them, steering some of the largest deals of 2024 and securing high-profile litigation wins, including at the U.S. Supreme Court.
Expert Analysis
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Fla. Foreign Real Estate Law Brings Broad Investment Risks
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.
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Tackling Judge-Shopping Concerns While Honoring Localism
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.
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How Attorneys Can Help Combat Anti-Asian Hate
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.
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Congress Needs To Enact A Federal Anti-SLAPP Statute
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.
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Takeaways From New Fla. Pharmacy Benefit Manager Rules
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.
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Looking For Plausibility In FTC's Amgen Merger Challenge
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.
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Some Client Speculations On AI And The Law Firm Biz Model
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.
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A Lawyer's Guide To Approaching Digital Assets In Discovery
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.
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High Court's Ethics Statement Places Justices Above The Law
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.
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Time For Law Schools To Rethink Unsung Role Of Adjuncts
As law schools prepare for the fall 2023 semester, administrators should reevaluate the role of the underappreciated, indispensable adjunct, and consider 16 concrete actions to improve the adjuncts' teaching experience, overall happiness and feeling of belonging, say T. Markus Funk at Perkins Coie, Andrew Boutros at Dechert and Eugene Volokh at UCLA.
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Tips For In-House Legal Leaders In A Challenging Economy
Amid today's economic and geopolitical uncertainty, in-house legal teams are running lean and facing increased scrutiny and unique issues, but can step up and find innovative ways to manage outcomes and capitalize on good business opportunities, says Tim Parilla at LinkSquares.
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What Associates Need To Know Before Switching Law Firms
Excerpt from
The days of staying at the same firm for the duration of one's career are mostly a thing of the past as lateral moves by lawyers are commonplace, but there are several obstacles that associates should consider before making a move, say attorneys at HWG.
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A Case For Sharing Mediation Statements With Counterparties
In light of a potential growing mediation trend of only submitting statements to the mediator, litigants should think critically about the pros and cons of exchanging statements with opposing parties as it could boost the chances of reaching a settlement, says Arthur Eidelhoch at Eidelhoch Mediation.