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Laurie & Monica Out-Action Jack…and Other Fiduciary Duties (Silicon Valley – Episode 22)

Episode 22 provides a decisive and satisfying showdown between Jack’s Box plan and Richard’s consumer platform option. Richard’s not-so-secret skunkworks project is dead, and the team sets to work on the Box believing that...more

Be Careful What You Say – Or Rather What You Don’t Say – AVEO Pays $4 Million to SEC to Settle Fraud Charges

In March 2016, the Securities and Exchange Commission announced that AVEO Pharmaceuticals, Inc., a Massachusetts-based biopharmaceutical company, agreed, without admitting or denying the allegations, to pay $4 million to...more

SEC Charges Biotech Company and Its Officers with Misleading Investors by Failing to Disclose FDA Concerns and Recommendations

On March 29, 2016, the Securities and Exchange Commission (SEC) announced charges against a biotech company and three of its officers for securities fraud. The company has agreed to pay $4 million to resolve the charges...more

Valuable Information Security Lessons from the Olympus Mortgage vs. Guaranteed Rate Case

Late last month a jury awarded Mount Olympus Mortgage Company (MOMC) more than $25 million for their claims against Guaranteed Rate (Guaranteed), which alleged Guaranteed along with other former employees of MOMC illegally...more

Business Litigation Report - March 2016

How Major Changes to the Federal Rules of Civil Procedure Will Impact Business Litigation - The Federal Rules of Civil Procedure govern all civil litigation in the federal courts. Recent major amendments to these...more

Second Circuit Narrowly Applies Supreme Court’s Decision in Omnicare

In In re Sanofi Securities Litigation, No. 15-588-cv, 2016 U.S. App. LEXIS 4107 (2d Cir. Mar. 4, 2016), the United States Court of Appeals for the Second Circuit affirmed the dismissal of class action complaints alleging that...more

Blog: In Re Sanofi: 2d Circuit Considers Misleading Statements Of Opinion After Omnicare

In an early appellate decision applying Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund, a three-judge panel of the 2d Circuit, on March 4, issued its opinion in In re Sanofi. The plaintiffs...more

CFPB’s First Data Security Action; Fines Online Platform Dwolla for Alleged Weak Security Practices

On March 2, the CFPB settled its first data security enforcement action against Iowa-based Dwolla Inc. Launched as a startup in 2009, Dwolla is an online payment platform that enables customers to transfer money directly...more

Is the CFPB the New Cop on the Data Security Beat?

On March 2, 2016, the Consumer Financial Protection Bureau (“CFPB”) broke new ground (at least for the CFPB) when it released a consent order against Dwolla, Inc. (“Dwolla”), an online payment platform, regarding data...more

Wendy’s faces class action over data breach

We wrote about Wendy’s investigation into a data breach at its chain restaurants at the beginning of January, and now Wendy’s faces a class action over that same breach. The suit claims that Wendy’s negligently exposed...more

FTC Announces Settlement with ASUS over Insecure Routers and Cloud Services

Yesterday, the FTC announced that it had entered into a settlement agreement with Taiwan-based computer hardware manufacturer ASUSTeK Computer Inc., resolving allegations that the company failed to take reasonable steps to...more

FTC Settles with Bitcoin Mining Operation Over Alleged Deceptive Practices

On February 18, the FTC announced that a Kansas-based bitcoin mining operation and two of its operators had agreed to settle allegations that their marketing practices for bitcoin mining machines and services were deceptive,...more

Computer Fraud and Abuse Act Not Violated Unless Plaintiff Shows Defendant Had Intent To Defraud

In a recent Computer Fraud and Abuse Act case, the Seventh Circuit Court of Appeals affirmed the district court’s conclusion that the plaintiff had produced no evidence refuting the defendant’s contention that it honestly...more

Delaware Supreme Court Holds That Expectation Damages Involving the Breach of an Obligation to Negotiate in Good Faith a License...

On December 23, 2015, the Delaware Supreme Court sitting en banc issued its second opinion in Siga Technologies Inc. v. PharmAthene, Inc. In its first decision, the Court reaffirmed its recent decision in Titan “that where...more

Wyndham Settles with FTC

Last month, Wyndham Worldwide Corp. settled its lengthy civil case with the Federal Trade Commission. The suit began in 2012, when the FTC sued Wyndham and three of its subsidiaries, alleging three data breaches between 2008...more

The Duty of Loyalty Awakens

If you’re a Star Wars fan, loyalty probably means waiting ten years for “The Force Awakens.” (Or even longer if you prefer not to count Episodes I-III). For an employee looking to leave her current employer, however, loyalty...more

Chancery Defers to Indian Corporation's Delaware Choice of Venue

In the absence of a prior-filed action in another forum, Delaware state courts will respect a plaintiff's Delaware choice of forum when faced with a forum non conveniens defense, except in the "rare case" where a defendant...more

Health Care Enforcement in 2016: A Look Back on 2015 and Forecasting the Year Ahead

2015 was a year of transition for the U.S. Department of Justice (“DOJ”), with the installation of a new Attorney General, Deputy Attorney General, and several other high-level officials. In January 2015, Andrew Weissmann...more

Claims Are Construed Regarding Real-Time Location Technology

The patent relates to Real-Time Location systems for locating and identifying specific portable devices within an enclosure. The patented technology addresses decreased battery power consumption. The following terms are...more

FDA Regulatory and Compliance Monthly Recap — December 2015

Pacira secures expanded marketing for painkiller medication as FDA agrees to settle lawsuit, revoke warning letter - The pharmaceutical industry won in its latest bid for more leeway to promote drugs for unapproved uses,...more

Massive Fraud Alleged by Camarillo Pharmacist

Russell Reitz, a Camarillo pharmacist, with a modest prescription-filling service, R&O Pharmacy, sold his business to Philidor Rx Services, a mail-order pharmacy, for $350,000. Reitz stayed on as manager, only to see an...more

Employees and “Authorized Access”: A Threat from Within?

Workplace privacy has become an increasingly challenging issue for employees and employers alike. With technological advancements, employers have enhanced visibility into employee behavior including their use of company...more

Major Verdict Shows the Power of Per Se Theories

How much is a per se theory under N.C. Gen. Stat. § 75-1.1 worth? According to a recent verdict in the U.S. District Court for the Eastern District of North Carolina, it’s worth 52.7 million dollars (plus, no doubt, a big...more

After Granting Motion for Summary Judgment on Issue of Non-Infringement, District Court Orders Parties to Proceed to Bench Trial...

The District Court granted Transcend's motion for summary judgment on the issue of non-infringement and denied the patent owner's, Glaukos', motion on the issue of inequitable conduct. The District Court then set a bench...more

Update from Wilson Elser’s D&O Insurance Digest

Litigation Developments and Mega Settlements - Dole Food, Inc. Derivative Action – Delaware Chancery Court Finds D&Os Engaged in Fraud - Dole Food, Inc. shareholders sued Dole Chairman and CEO David Murdock and Dole...more

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