Corporate
2021 Will See the Heat Turned up on Companies and Executives
News2021 will see a sharp rise in climate change litigation against companies and their executives around the world as cases begin to impact more individuals across a broader range of sectors.
Facebook Should be Broken up, FTC and States Allege in Pair of Lawsuits
NewsFacebook’s purchases of photo service Instagram and messaging app WhatsApp have helped fuel the social media giant’s massive growth.
Salesforce Names Chief Legal Officer Amy Weaver as CFO
NewsAmy Weaver, president and chief legal officer at Salesforce.com Inc., will become chief financial officer of the company on Feb. 1.
Hyundai, Kia Agree to $210M U.S. Auto Safety Civil Penalty
NewsHyundai Motor Co and Kia Motors’ U.S. units on Friday agreed to a record $210 million civil penalty after U.S. auto safety regulators said they failed to recall 1.6 million vehicles for engine issues in a timely fashion.
Revlon Avoids Bankruptcy After Getting Bondholder Support
NewsRevlon released that enough bondholders had taken part in its debt restructuring program for the cosmetics maker to stave off bankruptcy.
Purdue’s Massive Opioid Settlement is Tangled in a Bankruptcy Court Fight
NewsPurdue Pharma’s massive settlement over claims that it helped spark the opioid crisis is facing pushback in federal court, creating a potential stumbling block for the landmark deal.
Eversheds Sutherland Expands Corporate Practice in Chicago with M&A Partner Ted Cominos
NewsEversheds Sutherland is pleased to announce that Theodore H. Cominos Jr. has joined the firm’s M&A and Private Capital teams in the Chicago office as partner.
Johnson & Johnson’s $2B Talc Verdict Stands
NewsJohnson & Johnson has been defending against claims its talc-based powders cause cancers for years, and, with a new ruling against the drugmaker in Missouri, it’s preparing to challenge a massive verdict at the U.S. Supreme Court.
APPLEVirnetX Takes $503M Bite Out of Apple for Patent Infringement
NewsA jury in Tyler, Texas, ordered Apple to pay $502.8 million in royalties for infringing on VirnetX’s patented virtual private network (VPN).
Bed Bath & Beyond, Inc., to Pay $1.49M in Settlement of Environmental Violations
NewsContra Costa County District Attorney Diana Becton announces a $1,498,750 settlement against New Jersey-based Bed Bath & Beyond, Inc. (‘Bed Bath & Beyond’) as part of a settlement of a civil environmental prosecution.
OxyContin Maker Pleads Guilty, and Will Pay $8B and Close Company
NewsPurdue Pharma, the maker of OxyContin, has agreed to plead guilty to three federal criminal charges for its role in creating the nation’s opioid crisis and will pay more than $8 billion and close down the company.
U.S. Says Google Breakup May be Needed to End Violations of Antitrust Law
NewsThe U.S. sued Google on Tuesday, accusing the $1 trillion company of illegally using its market muscle to hobble rivals in the biggest challenge to the power and influence of Big Tech in decades.
Ex-Employee Files $1.4 M Suit, Alleging Portland Car Dealership Covered Up Coronavirus Outbreak
NewsA finance manager at a used car dealership in Portland was fired by his boss during a staff meeting for questioning the company’s alleged cover-up of a coronavirus cluster.
Pilgrim’s Announces Agreement with DOJ Antitrust Division
NewsPilgrim’s Pride Corporation has entered into a plea agreement with the US Department of Justice Antitrust Division in respect to its investigation into the sales of broiler chicken products in the US.
Dish Network Sued for Patent Infringement
NewsCedar Lane Technologies filed a complaint for patent infringement against Dish Network alleging infringed patents-in-suit through its Movies for Purchase feature.
Opioid Manufacturer Mallinckrodt Agrees to $1.6B Settlement
NewsGeneric opioid manufacturer Mallinckrodt has agreed to a $1.6 billion settlement to resolve a host of lawsuits that arose in response to tens of thousands of deadly opioid overdoses nationwide fueled, in part, by prescription drugs.
Johnson & Johnson to Pay $100M in Baby Powder Settlement
NewsJohnson & Johnson will pay out over $100 million to settle more than 1000 lawsuits that claim the pharmaceutical giant’s baby powder caused cancer.
South Florida Lawyer Charged with Fraud Related to 1 Global Capital Investment Scheme
NewsA Florida attorney and former outside counsel for 1 Global Capital LLC (1 Global), has been charged today with conspiring to commit wire fraud and securities fraud in connection with an investment fraud scheme that, as alleged, impacted more than 3,600 investors in 42 different states, and involved him personally and fraudulently raising more than $100 million from investors.
Google Parent Agrees to $310M Misconduct Lawsuit Settlement
NewsGoogle’s parent company has reached a $310 million settlement in a shareholder lawsuit over its treatment of allegations of executives’ sexual misconduct.
JPMorgan to Pay a Record $1B to Settle Market-Manipulation Charges
NewsJPMorgan is set to pay nearly $1 billion to settle with US authorities investigating whether the bank manipulated the metals and Treasury markets.
