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Fraud in Procurement of Registration Concerning Use of Mark Taints Entire Trademark Application for Stents
In Medinol Ltd. v. Neuro Vasx, Inc. (Cancellation No. 92040535), the Trademark Trial and Appeal Board (TTAB) agreed to enter summary judgment in favor of Medinol canceling Neuro Vasx's trademark registration for NEUROVASX based on fraud on the PTO. In August 2000, Neuro Vasx, was granted a registration for the mark NEUROVASX for 'medical devices, namely neurological stents and catheters.' As a result of this registration, Medinol's application for registration of the mark NIROVASCULAR for 'medical devices, namely stents' was refused.
In its Petition for Cancellation, Medinol argued that at the time Neuro Vasx submitted its required sworn affidavit to the PTO attesting to use of the mark, it had in fact not used the mark in connection with stents and, therefore, procured the registration by knowingly false or fraudulent statements. Neuro Vasx responded by denying that its intent in submitting its statement of use was fraudulent, arguing that the incorrect submission to the PTO was an 'oversight,' and filing a combined motion to amend its registration (deleting 'stents') and for summary judgment. Medinol objected to the proposed amendment and argued that ' even if it were allowed ' the amendment would not cure the fraud. Medinol's position was that: 'Allowing Registrant simply to amend its registration, without any factual showing regarding the merits of the fraud allegations or defenses thereto, essentially rewards Registrant for its fraudulent behavior since 2000.'
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
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.
Second Circuit Reinforces Bankruptcy Code Settlement Payment Safe Harbor
The Second Circuit affirmed the lower courts' judgment that a "transfer made … in connection with a securities contract … by a qualifying financial institution" was entitled "to the protection of ... §546 (e)'s safe harbor ...."