I’ve sued several multinational banks for breaches of fiduciary duty and breaches of contract, and have always been amazed their lack of any accountability or responsibility. It’s not just a handful of instances of banks selling a company’s loan to their competitor and bank lawyers lying to federal regulators. They live in a different
The Best Way To Prove “Predominance” In Generic Pharmaceutical Antitrust Class Actions Alleging Patent Misuse
There’s been a wave of antitrust class actions predicated on patent misuse by pharmaceutical companies of the past decade. The troublesome Illinois Brick decision prevents “indirect purchasers” — which means you, me, and our health insurance plans — from bringing federal antitrust claims, so plaintiffs’ lawyers have had to get creative in use of state
Investing In Lawsuits, Part III: Here Come The Banks and Hedge Funds
On Sunday, the New York Times returned to third-party funding of lawsuits with “Investors Put Money on Lawsuits to Get Payouts:”
Large banks, hedge funds and private investors hungry for new and lucrative opportunities are bankrolling other people’s lawsuits, pumping hundreds of millions of dollars into medical malpractice claims, divorce battles and class
The New Wave Of Breach Of Fiduciary Duty Forum-Shopping By Corporate Boards of Directors
[UPDATE: In related news, a federal judge in San Francisco recently ignored a forum selection bylaw that tried to force derivative suits to be filed in the Delaware Chancery Court. “A bylaw unilaterally adopted by directors…stands on a different footing [from contractual forum agreements],” Judge Seeborg wrote. “Particularly where, as here, the bylaw
Mark Zuckerberg On His Co-Founder: “just take the lawsuit…I’m just going to cut him out and then settle with him”
I already made one post out of The Social Network (i.e., Why Mark Zuckerberg Won’t Sue For Defamation Over The Facebook Movie), which is one more than I expected, but apparently there’s another legal issue in there.
Gawker and Business Insider published a scoop yesterday on the "dirty tricks" that Mark Zuckerberg used to
eBay v. Newmark: Al Franken Was Right, Corporations Are Legally Required To Maximize Profits
[Update, May 2012: Leo E. Strine, Jr., Chancellor of the Delaware Court of Chancery, referenced this post in his thoughtful new law review article, Our Continuing Struggle With the Idea That For-Profit Corporations Seek Profit, 47 Wake Forest L. Rev. 135 (2012).]
[Updates: Francis Pileggi has his take (courtesy
The Idiot’s Guide Whistleblowing Under The Dodd-Frank Wall Street Reform Act
If you suspect your employer has violated securities, tax, or government contract laws, you can contact our firm for a free, confidential, no-obligation consultation using this form.
Corporate Counsel reported yesterday:
The new federal whistleblower law is proving a hot item for many plaintiff law firms. Attorneys say that tipsters with visions
Do You Know The Muffin Man, Who Lives Under A Trade Secrets Injunction?
As The Legal Intelligencer reported,
When a top-level executive suddenly quits to take a job at a competing firm, the courts have the power to block the start of the new employment if the evidence shows that such an injunction is needed to prevent a likely misappropriation of trade secrets, the 3rd U.S. Circuit
The Barnes Museum and The Dilemma of Dead-Hand Control
At the Weekly Standard, art critic Lance Esplund has an essay decrying the upcoming move of the Barnes Museum from Lower Merion, Pa., to Philadelphia:
Now after years of litigation, Albert Barnes’s intentions have been subverted and his will broken. And the Barnes Foundation is scheduled to be moved. Galleries have already been closed. Ground
Wall Street Law Firms Band Together To Complain About Judge Rakoff – And Are Ignored
Via the Am Law Daily, the Wall Street Journal had an article about an effort by Bank of America’s lawyers — at Wachtell, Davis Polk, and Cleary Gottlieb — to keep Judge Jed Rakoff from presiding over a shareholder class action against them:
Bank of America Corp. tried to keep cases pending against it