Deals & Corporate Governance

  • January 31, 2024

    8 Firms Lead $3.7B Sale Of Cigna Medicare Businesses

    The Cigna Group will sell multiple health benefits and Medicare units to Health Care Service Corp., the companies said Wednesday in an announcement detailing a deal valued at around $3.7 billion and steered by Wachtell Lipton Rosen & Katz, Rule Garza Howley LLP, Mintz Levin Cohn Ferris Glovsky and Popeo PC and Sidley Austin LLP.

  • January 30, 2024

    NC Federal Judge OKs Temporary Halt In Novant Hospital Deal

    Novant Health's push to buy two North Carolina hospitals is on hold after a federal judge granted a temporary restraining order Monday pausing the $320 million transaction, a step each party agreed to amid the antitrust challenge.

  • January 30, 2024

    Minority USPS Workers Lack Access To Counseling, Suit Says

    The U.S. Postal Service violates federal law by making an anonymous counseling program available for postal inspectors, who are predominantly white, while not doing the same for its largely Black and Hispanic postal police officers, a proposed collective action told a California federal court.

  • January 29, 2024

    Don't Keep Us Out Of ITC, Startup Says In Apple Watch Row

    A Silicon Valley medical device startup that wants the U.S. International Trade Commission to ban certain health-related features from being employed by new Apple Watches is arguing that this dispute is important to ensure that other startups that don't make products can litigate their grievances with tech giants at the Washington, D.C.-based commission.

  • January 29, 2024

    2 Biotech Firms Join IPO Fray With Plans To Raise $211M

    Two drug developers, metabolism-focused Fractyl Health Inc. and psychiatry-focused Alto NeuroScience Inc., joined a growing pipeline of initial public offerings Monday by unveiling plans for IPOs that could net $211 million combined, guided by three law firms.

  • January 29, 2024

    Imperative Care Names O'Melveny Deals Partner As CLO

    Silicon Valley's Imperative Care announced Monday that an O'Melveny deals partner will take over as chief legal officer, joining a revamped leadership team at the medical tech company.

  • January 26, 2024

    $298M Contract Row Can't Stay In Federal Court, Sellers Say

    The sellers of a $257 million portfolio of 17 North and South Carolina skilled nursing and assisted living facilities urged a North Carolina federal court to dismiss the portfolio buyers' suit over a deal that had a total value of more than $298 million, arguing on Friday that the asset purchase agreement for the soured deal has a forum selection clause that forces them to litigate in North Carolina state court.

  • January 26, 2024

    NJ Health Network Accused Of Poaching Docs Amid JV Talks

    A major Garden State healthcare provider "decimated" a private orthopedic surgery practice when it abruptly scuttled talks on a potential joint venture and poached 10 physicians, a suit filed in New Jersey state court claims.

  • January 26, 2024

    Ex-Goodwin Procter Life Sciences Atty Joins DLA Piper In NY

    DLA Piper announced it has hired an experienced life sciences transactional attorney from Goodwin Procter LLP as a New York-based partner in its corporate practice.

  • January 25, 2024

    Danaher Execs Face Investor Suit Over Post-Pandemic Slump

    Shareholders of global science and technology company Danaher claim its top brass misled them about increased revenue growth during the onset of the COVID-19 pandemic and failed to inform them that it was not sustainable as the virus entered an "endemic" state.

  • January 25, 2024

    Colo. REIT Overpaid For $21B Merger, Investor Says

    A shareholder of a Colorado-based real estate investment trust alleged in a Denver court Thursday the company misled investors about a $21 billion merger, overpaid for the acquisition by at least $1 billion and watered down the value of stock held by its existing investors.

  • January 25, 2024

    PE-Backed BrightSpring Prices $693M IPO Below Range

    Private equity-backed healthcare platform BrightSpring Health Services Inc. on Thursday priced a $693 million initial public offering below its range, represented by Simpson Thacher & Bartlett LLP and underwriters counsel Latham & Watkins LLP.

  • January 25, 2024

    FTC Sues To Stop NC Healthcare Systems' $320M Deal

    The Federal Trade Commission announced Thursday it has sued to block a $320 million deal between health network Novant Health and publicly traded healthcare company Community Health Systems.

  • January 25, 2024

    Service Snag Delays Hospital Operator's Ch. 11 Confirmation

    California-based hospital operator Alecto Healthcare Services LLC will wait until March to seek confirmation of its proposed Chapter 11 plan as a small-business debtor, after attorneys told a Delaware bankruptcy judge Thursday it hadn't served notice of the proposal to roughly 700 creditors. 

  • January 25, 2024

    Kirkland Reps Arlington Capital On $3.8B Fund VI

    Kirkland & Ellis LLP-advised Arlington Capital Partners on Thursday announced that it closed its sixth fund at its hard cap with $3.8 billion in commitments, making the fund the largest in the Washington, D.C.-area-based firm's 25-year history.

  • January 24, 2024

    J&J Agrees To $150M Deal Ending Wash. Opioid Litigation

    Johnson & Johnson will pay almost $150 million to end Washington's lawsuit accusing it of pushing opioid painkillers and understating the risk of addiction, according to a settlement filed in state court on Wednesday, adding to the tally of states that have gotten a payout from the pharmaceutical giant for its alleged role in the opioid epidemic. 

  • January 24, 2024

    Latham, Cooley Steer CG Oncology's Upsized $380M IPO

    Bladder-cancer therapy company CG Oncology is set to begin trading on Thursday after pricing an upsized $380 million initial public offering, represented by Latham & Watkins LLP and underwriters counsel Cooley LLP.

  • January 24, 2024

    M&A Off To Strong Start In 2024 Amid Flurry Of US Megadeals

    The month of January is providing exactly the jolt of activity those betting on a 2024 mergers and acquisitions rebound have been hoping for, with a flurry of announced U.S. deals collectively worth $136.6 billion as of Wednesday, data provided by Dealogic shows.

  • January 24, 2024

    Hospital's $55M Deal To End 16-Year Antitrust Case Gets OK

    An Illinois federal judge granted initial approval Wednesday to a $55 million settlement by NorthShore University HealthSystem, resolving a 16-year-old antitrust class action over alleged price hikes the health system instituted following a merger in 2000 with Highland Park Hospital.

  • January 24, 2024

    Cannabist Co. Says Suit Over $25M Deal Came Too Late

    Cannabist Company Holdings Inc. said this week an associate's lawsuit in New York federal court claiming he was never paid for his work expanding the company into Florida and securing one of the state's few medical marijuana licenses was filed too late, dooming all of his claims.

  • January 23, 2024

    Wash. Firm Must Face Suit Over Lost $1M Escrow Fund

    A Spokane, Washington, firm must face claims that it mishandled $1 million of investor funds, a federal judge in the Evergreen State has determined, saying that although the investors were not law firm clients, "pleadings are sufficient to establish that plaintiffs' injury plausibly would not have occurred but for the acts and omissions of defendants."

  • January 23, 2024

    Teva Can't Escape Insurers' Copaxone Generic Delay Case

    A Vermont federal court has refused to toss a proposed class action from insurers accusing Teva Pharmaceuticals of delaying generic versions of multiple sclerosis treatment Copaxone but trimmed several claims under various state laws.

  • January 23, 2024

    Upsized CG Oncology IPO Could Raise As Much As $306M

    Bladder-cancer therapy company CG Oncology on Tuesday increased the amount of shares it will offer in its upcoming initial public offering to 17 million, meaning it could raise as much as $306 million if priced at the high point compared to $212 million when it set terms last week.

  • January 23, 2024

    Former Police Chief Cops To Insider Trading Charges In NY

    A Massachusetts town's former police chief told a Manhattan federal judge Tuesday that he unlawfully profited from secret information about a healthcare-sector merger provided to him by a "lifelong friend," pleading guilty to insider trading charges.

  • January 23, 2024

    2nd Circ. Backs Shkreli Lifetime Pharma Industry Ban

    The Second Circuit on Tuesday backed a ruling banning former pharmaceutical executive and convicted securities fraudster Martin Shkreli from the drug industry for life, saying a repeat of his past misconduct would be "life-threatening."

Expert Analysis

  • Litigation Funding Disclosure Should Be Mandatory

    Author Photo

    Despite the Appellate Rules Committee's recent deferral of the issue of requiring third-party litigation funding disclosure, such a mandate is necessary to ensure the even-handed administration of justice across all cases, says David Levitt at Hinshaw.

  • Recalling USWNT's Legal PR Playbook Amid World Cup Bid

    Author Photo

    As the U.S. Women's National Soccer Team strives to take home another World Cup trophy, their 2022 pay equity settlement with the U.S. Soccer Federation serves as a good reminder that winning in the court of public opinion can be more powerful than a victory inside the courtroom, says Hector Valle at Vianovo.

  • Revalidation Unlikely To End NIH Tech-Deal Bid Protest Saga

    Author Photo

    Recent U.S. Government Accountability Office decisions requiring the National Institutes of Health to again rework a $50 billion information technology contract probably won't result in an award for many protesters, and the corrective action will likely be followed by more protests, say James Tucker and Damien Specht at MoFo.

  • Colorado Antitrust Reform Carries Broad State Impact

    Author Photo

    Colorado recently became the latest state to update and expand its antitrust laws, and the new act may significantly affect enforcement and private litigation, particularly when it comes to workers and consumers, says Diane Hazel at Foley & Lardner.

  • Parsing Through The FTC's Proposed Health Privacy Updates

    Author Photo

    The Federal Trade Commission's recently proposed updates to its Health Breach Notification Rule contain subtle but significant changes to key terms that help modernize the agency's health app regulation and provide stakeholders an important opportunity to help shape the future of virtual health care, say attorneys at Arnold & Porter.

  • Regulating AI: An Overview Of Federal Efforts

    Author Photo

    The U.S. has been carefully managing a national policy and regulatory ecosystem toward artificial intelligence, but as AI technology continues to expand into our everyday lives, so too has its risks and the need for regulation, says Jennifer Maisel at Rothwell Figg.

  • Merger Guidelines Should Provide For Competition Trustees

    Author Photo

    Following the U.S. antitrust agencies' release of draft merger guidelines, retired U.S. Court of Federal Claims Chief Judge Susan Braden suggests a court-appointed competition trustee would help ensure U.S. competition without impairing economic prosperity.

  • Indivior Ruling May Affect Rebate Wall Litigation

    Author Photo

    A New Jersey federal court's recent decision in Indivior v. Alvogen, in which a claim that an alleged rebate wall anti-competitively blocked generic competition survived summary judgment, may provide a blueprint for successfully challenging other drug rebating practices, say Peter Herrick and Monsura Sirajee at O'Melveny.

  • Merger Guidelines' Broad Tack Ignores Recent Precedent

    Author Photo

    The U.S. Justice Department and Federal Trade Commission's new proposed merger guidelines are consistent with the Biden administration's expansive approach to antitrust enforcement, but they fail to grapple meaningfully with much of modern economic precedent and court decisions requiring greater agency rigor in merger analysis, say attorneys at Freshfields.

  • Mallory Gives Plaintiffs A Better Shot At Justice

    Author Photo

    Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.

  • Courts Can Overturn Deficient State Regulations, Too

    Author Photo

    While suits challenging federal regulations have become commonplace, such cases against state agencies are virtually nonexistent, but many states have provisions that allow litigants to bring suit for regulations with inadequate cost-benefit analyses, says Reeve Bull at the Virginia Office of Regulatory Management.

  • Tales From The Trenches Of Remote Depositions

    Author Photo

    As practitioners continue to conduct depositions remotely in the post-pandemic world, these virtual environments are rife with opportunities for improper behavior such as witness coaching, scripted testimony and a general lack of civility — but there are methods to prevent and combat these behaviors, say Jennifer Gibbs and Bennett Moss at Zelle.

  • What's New In The DOJ-FTC Proposed Merger Guidelines

    Author Photo

    While this week's merger guidelines proposal from the Federal Trade Commission and U.S. Department of Justice initially appears to reflect well-established principles of antitrust law, a closer examination reveals a stark departure from the last 40 years of antitrust enforcement, say attorneys at Skadden.