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Cases in Court
California Medical Device Maker Pleads Guilty in Cover-up of Malfunctions
Endovascular Technologies, Inc., a wholly owned subsidiary of Guidant Corporation, based in Menlo Park, CA, pled guilty to a criminal information with ten felony counts, and agreed to pay $92.4 million to settle criminal and civil charges for covering up thousands of incidents involving the malfunction of a medical device (the 'Ancure device') used to treat aneurysms in the aorta. The incidents involved 12 deaths and dozens of invasive surgeries, according to a June 12, 2003, announcement by the U.S. Attorney's Office for the Northern District of California. Because the company knowingly failed to file required Medical Device Reports with the FDA, which the company knew about since it had a sales representative present in the operating room each time one of these devices was surgically implanted in a patient, it violated 21 U.S.C. ” 331(a) and 333(a)(2) ('Interstate Shipment of Misbranded Devices'). According to investigators, the government may charge company executives. The press release is available at www.usdoj.gov/usao/can/press/html/2003_06_12_endovascular.html
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.