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Commercial Contracts
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July 24, 2024
McCarter & English Beats Biotech Malpractice Suit In NJ
McCarter & English LLP defeated a New Jersey biotechnology company's legal malpractice suit this week, following a New Jersey state judge's finding that the malpractice claims should have been brought in an earlier round of litigation over unpaid legal fees.
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July 24, 2024
Chancery OKs $6M Deal Recovery After 'Voidness' Ruling
The Delaware Supreme Court's partial reversal last year of a vice chancellor's findings that upheld an investment company's foreclosure on $50 million in co-founder equity units cleared the way on Wednesday for the same company to recoup more than $6 million in damages and expenses.
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July 24, 2024
Ozy Media Ends Trade Secrets Suit After Ex-CEO's Conviction
News startup Ozy Media has dropped its trade secrets theft suit against Buzzfeed, its former editor-in-chief Ben Smith and the media company he co-founded, Semafor Inc., about a week after Ozy and its former CEO were convicted of lying to banks and investors to secure tens of millions of dollars to fund the multimedia business.
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July 23, 2024
Microsoft Calls FTC Price Hike Claims 'Misleading' At 9th Circ
Microsoft pushed back against the Federal Trade Commission's contention that an increase in the company's gaming subscription pricing is evidence of the anticompetitive effects of the software giant's $68.7 billion acquisition of game developer Activision Blizzard Inc., calling the commission out for trying to "reinvent" its case against the merger on appeal to the Ninth Circuit.
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July 23, 2024
Chancery Ends Challenge To $12.5B Qualtrics' SAP Sale
Saying it was not reasonably conceivable that he would find software giant SAP and Qualtrics International Inc. directors liable for damages after Qualtrics' $12.5 billion sale to Silver Lake Capital despite a superficially better offer, a Delaware vice chancellor on Tuesday dismissed a stockholder challenge to the deal.
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July 23, 2024
Madonna Tells DC Judge Late Show Suit Already Failed In NY
Madonna and venue management company Monumental Sports & Entertainment asked a D.C. federal judge to toss a lawsuit claiming that the pop singer kept concert attendees waiting for hours before taking the stage in Washington, D.C., saying the proposed class action should fare no better than a similar suit in New York that was dropped last month.
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July 23, 2024
Yamaha Sinks Defective WaveRunner Watercraft Suit
An Illinois federal judge on Tuesday threw out a proposed class action alleging Yamaha Motor Corp. USA sold WaveRunner-brand personal watercraft with defective fuel gauges and trip computers, saying the complaint fails to properly allege a breach of warranty or fraud.
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July 23, 2024
Judge Won't Force Meta To Run Bankrupt Rubio's Ads
A Delaware bankruptcy judge on Tuesday denied a temporary restraining order requested by fast-casual seafood chain Rubio's Coastal Grill against Meta Platforms Inc., which alleged Meta violated an automatic stay in the Chapter 11 case by not running Rubio's ads after the company didn't pay fees it had incurred prepetition.
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July 23, 2024
Regional Electric Co-Op Sues Power District Over Unpaid Bills
A regional electric cooperative based in Colorado has filed a lawsuit in Colorado federal court against a Nebraska public power district, alleging the Nebraska entity is refusing to pay for more than $1 million of electricity it bought from the regional cooperative this year.
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July 23, 2024
USA Pickleball Whacks Paddle Design Contract Suit
USA Pickleball Association has asked a Maryland federal judge to toss a fraud and negligence suit filed by a paddle manufacturer, arguing it was not vindictiveness that kept it from approving the company's design, but changing standards.
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July 23, 2024
Philly Judge Won't Block FTC Noncompete Ban
A Pennsylvania federal judge refused Tuesday to temporarily block the Federal Trade Commission's impending ban on employment noncompete agreements, a victory for commission authority that could be short-lived as the agency awaits a final decision from a Texas federal judge who's already indicated an inclination to stop the regulation.
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July 23, 2024
'Surface Water' Stumps Mass. Justices In Loss For Insurers
The top court in Massachusetts on Tuesday ruled in favor of a hospital seeking insurance coverage stemming from a severe rainstorm, saying it's unclear if water that pooled on the hospital's roof should be considered "surface water" that would trigger policy limits on flood damage.
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July 22, 2024
Chicago Firm Seeks $2M For Ex-Atty's Alleged Client Poaching
Chicago firm Loftus & Eisenberg Ltd. has filed suit in Illinois state court accusing a former attorney's new firm of helping the lawyer poach clients by encouraging them to leave with him, even though the new firm couldn't support his practice.
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July 22, 2024
Fla. Jury Says Insurance Broker Owes $3M For Worker Poaching
A Florida federal jury has awarded more than $3 million in damages to a New York insurance brokerage in a trial over employment contracts, finding that a competitor interfered with its business by helping two employees breach fiduciary duties when they switched jobs and brought client lists with them.
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July 22, 2024
Gazprom Unit Illegally Seized Helium Containers, Linde Says
Linde Inc. sued RusChemAlliance and Gazprom in New York federal court Friday alleging they illegally seized helium containers in Russia as collateral in an unrelated contractual fight they have with nonparty engineering firm Linde GmbH over gas plant projects shuttered amid expanded sanctions against Russia following its invasion of Ukraine.
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July 22, 2024
House Dems Urge Tai To End Investor-State Dispute Deals
House Democrats are urging the U.S. Trade Representative to nix a mechanism allowing foreign investors to challenge government policies outside Western Hemisphere countries' judicial systems, saying corporations have used it as "ransom" to gain more industry-friendly results.
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July 22, 2024
Jury Delivers $138M Verdict In Bitcoin Mining Consultant Suit
A California federal jury unanimously found bitcoin mining firm Marathon Digital Holdings Inc. liable for nearly $139 million in damages over allegedly breaching a consultant's contract when it cut him out of the deal he brought to the firm.
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July 22, 2024
Insurer Says Bank Must Pay Its $1.1M Drawdown Request
A surety for an oil and gas operator that has recently sought Chapter 11 protection told a Washington federal court that a bank has repeatedly failed to hold up its end of an "irrevocable letter of credit," alleging the bank owes it over $1.1 million.
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July 22, 2024
Fifth Third Sued In $20M Escrow Dispute Over Dividend Solar
A private equity seller of a solar panel fintech lender that Fifth Third Bank bought in 2022 has sued the bank in New York federal court to free up $20 million in indemnity escrow funds that it alleges the bank has tried improperly to withhold over state investigations tied to the fintech.
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July 22, 2024
Scanner Maker Tells 4th Circ. Contract Ends Honeywell Suit
Laser technology company Opto Electronics urged the Fourth Circuit to overturn a jury finding that it was liable for ripping off Honeywell International over royalties for barcode scanners, arguing that a contract between the companies foreclosed the result as a matter of law.
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July 22, 2024
Anthem Blue Cross Wants Lab's $3.8M Suit Tossed
Anthem Blue Cross Blue Shield of Connecticut has asked a federal judge to toss a medical lab's lawsuit seeking nearly $3.8 million from it for refusing to pay for or underpaying for lab work and COVID-19 tests, arguing the claims are "baseless."
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July 22, 2024
Dispute Paused For Arbitration In $51M NOLA Airport Case
A Louisiana federal judge has stayed litigation initiated by a group of insurance companies in a $51 million dispute stemming from alleged design defects in a $1 billion terminal project at the Louis Armstrong New Orleans International Airport, saying claims against the insured companies will be decided in arbitration.
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July 22, 2024
Royalty Co. Wins Bid To Confirm Award Against Utopia Music
A New York federal judge has granted a petition by the former owners of artist royalties company Lyric Financial LLC to confirm an arbitral award against Lyric's buyers, Utopia Music Holdings (US) Inc. and its Swiss parent, Utopia Music AG.
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July 22, 2024
Energy Co. Accused Of Putting Off $5M Construction Project
A Houston energy company has accused its Austin business partner of failing to build a more than $5 million liquid distillation machine over four years after executing a contract to do so.
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July 22, 2024
Lexitas Says IT Consulting Co. Didn't Finish $2M Project
Litigation services company Depositions Solutions LLC, which does business as Lexitas, said in a Texas county complaint Monday that a Philadelphia-based information technology company hired to upgrade its web services failed to complete a more than $2 million project.
Expert Analysis
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Policy Misrepresentations Carry Insurance Rescission Risks
The Second Circuit's recent decision in Medical Mutual v. Gnik, finding that material misrepresentation in a clinic's insurance applications warranted policy rescission, is a clear example of the far-reaching effects that misrepresentations can have and provides a reminder that policyholders should employ relatively straightforward steps to decrease risks, say attorneys at Hunton.
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Analyzing New EU Measure To Prevent Reexports To Russia
Niels Ersbøll, Alexander Italianer and Laura Beuls at Arnold & Porter offer a comprehensive overview of the European Union's new rule requiring export agreements to contain a clause prohibiting the reexport of goods to Russia, and discuss what companies should do to ensure compliance.
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3 Tech Sourcing Best Practices That Are Relevant For AI
It might be tempting to think that sourcing artificial intelligence tools requires a completely new set of skills, but the best practices that lead to a good deal are much the same as traditional technology procurement, says Mia Rendar at Pillsbury.
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Weisselberg's Perjury At Trial Spotlights Atty Ethics Issues
Former Trump Organization executive Allen Weisselberg’s recent guilty plea for perjury in the New York attorney general's civil fraud trial should serve as a reminder to attorneys of their ethical duties when they know a client has lied or plans to lie in court, and the potential penalties for not fulfilling those obligations, say Hilary Gerzhoy and Julienne Pasichow at HWG.
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Practicing Law With Parkinson's Disease
This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.
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Series
Playing Hockey Makes Me A Better Lawyer
Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.
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A Snapshot Of The Evolving Restrictive Covenant Landscape
Rachael Martinez and Brooke Bahlinger at Foley highlight recent trends in the hotly contested regulation and enforcement of noncompetition and related nonsolicitation covenants, and provide guidance on drafting such provisions within the context of stand-alone employment agreements and merger or acquisition transactions.
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For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill
A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.
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Handling Customer Complaints In Bank-Fintech Partnerships
As regulators mine consumer complaint databases for their next investigative targets, it is critical that fintech and bank partners adopt a well-defined and monitored process for ensuring proper complaint handling, including by demonstrating proficiency and following interagency guidance, say attorneys at Jenner & Block.
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Trump's NY Civil Fraud Trial Spotlights Long-Criticized Law
A New York court’s recent decision holding former President Donald Trump liable for fraud brought old criticisms of the state law used against him back into the limelight — including its strikingly broad scope and its major departures from the traditional elements of common law fraud, say Mark Kelley and Lois Ahn at MoloLamken.
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What NAR Settlement Means For Agent Commission Rates
If approved, a joint settlement agreement between the National Association of Realtors and a class of home sellers will likely take the onus off home sellers to compensate buyers' agents, affecting considerations for all parties to real estate transactions, say attorneys at Jones Foster.
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Opinion
Requiring Leave To File Amicus Briefs Is A Bad Idea
A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.
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4 Ways To Motivate Junior Attorneys To Bring Their Best
As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.
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How 3 Unfolding Cases Could Affect The Energy Industry
Three judicial decisions now in the pipeline — Texas' challenge to the U.S. Environmental Protection Agency's methane regulations, Delaware's climate suit against big energy companies, and a case before the Supreme Court of Texas on royalty lease interpretation — could have important implications for the energy industry, say Michelle Scheffler and Rachael Cox at Skadden.
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Flexibility Is Key In Hybrid Capital Investment Strategies
Flexible or hybrid capital funds have become a solution for some owners adverse to private debt or requiring short-term capital support not otherwise available in the market, but the complexity and possible range of structures available means that principals need to consider how they may work in different scenarios and outcomes, says Daniel Mathias at Cohen Gresser.