Deals & Corporate Governance

  • 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."

  • January 23, 2024

    Weil Helps Sanofi Buy Rare Diseases Co. For Up To $2.2B

    French healthcare giant Sanofi SA said Tuesday that it will buy a U.S. company that creates therapies for so-called orphan diseases for approximately $2.2 billion in cash as it seeks to expand its rare diseases products.

Expert Analysis

  • Scope Of FTC's Health Info Enforcement May Expand

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    The Federal Trade Commission's proposed amendments to the Health Breach Notification Rule signal the agency's mounting efforts to regulate consumer health information beyond the reaches of the Health Information Portability and Accountability Act, which does not cover many recent health apps and technologies, say Jodi Daniel and Brandon Ge at Crowell & Moring.

  • Appellate Funding Disclosure: No Mandate Is Right Choice

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    The Advisory Committee on Appellate Rules' recent decision, forgoing a mandatory disclosure rule for litigation funding in federal appeals, is prudent, as third-party funding is only involved in a minuscule number of federal cases, and courts have ample authority to obtain funding information if necessary, says Stewart Ackerly at Statera Capital.

  • How NY Law Affects Scrutiny Of Health Care PE Transactions

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    A recently passed New York law will strengthen pretransanction notification requirements for health care entities — particularly those backed by private equity — but contains several ambiguities that will hopefully be clarified before the law takes effect in August, say attorneys at Norton Rose.

  • How Attys Can Avoid Exposing Their Firms To Cyberattacks

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    Attorneys are the weakest link in their firms' cyberdefenses because hackers often exploit the gap between individuals’ work and personal cybersecurity habits, but there are some steps lawyers can take to reduce the risks they create for their employers, say Mark Hurley and Carmine Cicalese at Digital Privacy & Protection.

  • Virginia 'Rocket Docket' Slowdown Is Likely A Blip

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    After being the fastest or second-fastest federal civil trial court for 14 straight years, the Eastern District of Virginia has slid to 18th place, but the rocket docket’s statistical tumble doesn't mean the district no longer maintains a speedy civil docket, says Robert Tata at Hunton.

  • A Look At 2023's Major NLRB Developments Thus Far

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    Over the last six months, the National Labor Relations Board has broadened its interpretation and enforcement of the National Labor Relations Act, including increasing penalties and efforts to prohibit restrictive covenants and confidentiality agreements, say Eve Klein and Elizabeth Mincer at Duane Morris.

  • Preparing For Md. Adult-Use Cannabis: Licensing Provisions

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    As the launch of Maryland’s adult-use cannabis market quickly approaches, current and prospective businesses will need to understand key provisions and limitations related to license conversion, qualifying partnerships, social equity applications and microlicenses, say Seth Gitner and Jonathan Havens at Saul Ewing.

  • FTC's Amgen-Horizon Protest Raises Conglomerate Concerns

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    The Federal Trade Commission's challenge to Amgen Inc.'s proposed $28 billion acquisition of Horizon Therapeutics is the agency's first move in four decades based on a conglomerate theory of competitive harm, and might pose new antitrust risks for transactions beyond the pharmaceutical sector, say attorneys at WilmerHale.

  • 5 Management Tips To Keep Law Firm Merger Talks Moving

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    Many law firm mergers that make solid business sense still fall apart due to the costs and frustrations of inefficient negotiations, but firm managers can increase the chance of success by effectively planning and executing merger discussions, say Lisa Smith and Kristin Stark at Fairfax Associates.

  • What 3rd Circ. Niaspan Decision Means For Class Cert.

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    The Third Circuit's recent denial of class certification in the Niaspan antitrust case underscores its particularly stringent understanding of the implicit ascertainability requirement, which further fuels confusion in the courts, threatens uneven results and increases the risk of forum shopping, says Michael Lazaroff at Rimon Law.

  • The Texas Two-Step May Be Losing Steam

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    The Texas Two-Step is a powerful bankruptcy strategy that has been used in recent high-profile cases, including Johnson & Johnson’s talc unit bankruptcy case, but ongoing debate and legal challenges raise the question of whether this maneuver is losing reliability, say Brendan Best and Justin Allen at Varnum.

  • FTC Pharma Merger Digest May Offer Policy Clues

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    The Federal Trade Commission's and the U.S. Justice Department's recently published summary of the agencies' workshop on proposed changes to pharmaceutical merger analysis reads like a policy roadmap and its timing may forecast the release of new draft merger guidelines, say attorneys at Mintz.

  • Rethinking In-Office Attendance For Associate Retention

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    The hybrid office attendance model doesn't work for all employees, but it does for many — and balancing these two groups is important for associate retention and maintaining a BigLaw firm culture that supports all attorneys, says Summer Eberhard at Major Lindsey.