Plaintiffs' attorneys have filed several lawsuits in recent months involving two recalled drugs, the generic blood thinner heparin, and prescription medication Digitek, that could signal a clean break from past actions that were far less successful against drugs Vioxx and Paxil.
The question of whether expert witnesses should be immune from disciplinary action when they testify as experts in medical malpractice trials is not just an American issue. Medical societies and courts worldwide are grappling with the subject and their decisions can inform discussions in our own country.
Last month, the authors discussed the fact that state laws vary regarding whether and when an impaired plaintiff can be present in the courtroom during the trial of his or her case. The authors conclude with a discussion on methods for diminishing the emotional impact on the jury of the courtroom presence of such a plaintiff.
Many nervous attorneys are inundating their state and local bar associations with questions about what their personal and firm responsibilities are when client trust accounts are held in banks that fail. Bar associations are responding with Web postings and formal ethics opinions.
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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.
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.
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.
