News & Analysis as of

Walgreens

Tennessee CON Report

I. February and April 2017—Tennessee Certificate of Need Meetings - The agency approved the following applications during the February and April meetings. A. Consent Agenda 1. Walgreens Infusion and...more

California Federal Court Allows Indirect Purchasers of Securities to Sue Issuers for Fraud Under California Statute

by Carlton Fields on

A federal magistrate judge in California has allowed a securities fraud suit against a late-stage private company to proceed despite the plaintiff investors holding a security interest only through intermediary,...more

No “Relaxed” Pleading Standards for False Claims Act Relators, Says Sixth Circuit

by Saul Ewing LLP on

In United States ex rel. Hirt v. Walgreen Company, the United States Court of Appeals for the Sixth Circuit recently affirmed the dismissal of a pharmacy owner’s False Claims Act (“FCA”) lawsuit because he failed to plead his...more

Relax, Sixth Circuit Opinion Indicates Rule 9(b) Pleading Requirement Still Has Bite

by Bass, Berry & Sims PLC on

A recent Sixth Circuit opinion in U.S. ex rel. Hirt v. Walgreen Co. should come as welcome news for FCA defendants concerned about the implications of the Sixth Circuit’s application last year, for the first time, of a...more

Big Pharma found to exploit ‘orphan’ drug law to jack up product prices

Big Pharma has ruthlessly exploited a well-intentioned measure that sought to provide medications to treat patients with rare diseases that might otherwise have been ignored. Drug companies, instead, have manipulated the 1983...more

The End of Disclosure-Only Settlements in Securities Class Actions?

by BakerHostetler on

After nearly a decade of prominence, disclosure-only settlements may be going extinct. These settlements occur in class action cases arising from the announcement of a merger or acquisition. The plaintiff class alleges that...more

Recent Proxy Access Developments

by Ropes & Gray LLP on

To date, nearly 300 companies have adopted proxy access bylaws, including over 40% of S&P 500 companies. Given the widespread adoption of proxy access by large U.S. companies, it was only a matter of time before a shareholder...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

And we thought Brexit was something. Buckle up. It’s going to be a wild market ride... Whoa....more

Ninth Circuit Substantially Reduces Punitive Award Against Walgreen

Things have been quiet in the world of punitive damages for the last few months, but two recent decisions substantially reducing punitive awards under the BMW/State Farm factors warrant mention. My colleague Miriam Nemetz...more

Antitrust-Related Recent Developments: FTC/DOJ Aggressive Merger Enforcement Continues

The Federal Trade Commission and Department of Justice have continued their aggressive stance against proposed mergers that the antitrust agencies perceive as harmful to competition. So far this year, the FTC obtained a...more

Seventh Circuit Strikes Again – Rejects Settlement In Shareholder Deal Litigation

by Carlton Fields on

In yet another strongly-worded opinion, the Seventh Circuit rejected the proposed settlement of a Walgreens’ shareholder strike suit in which the class obtained “worthless” supplemental disclosures but class counsel received...more

Strike Suit Struck Down

It seems that the announcement of any corporate transaction triggers a race to the courthouse by plaintiffs’ firms. These firms specialize in filing class action lawsuits demanding additional disclosures for the benefit of...more

The Decline of the Disclosure-Only Settlement: Will We Regret What We Wished For?

In combination with the Delaware Court of Chancery’s decision in In re Trulia, Inc. Stockholder Litigation, 129 A.3d 884 (Del. Ch. 2016), Judge Posner’s blistering opinion In re Walgreen Company Stockholder Litigation, 2016...more

Seventh Circuit Adopts Trulia Standard for Disclosure-Only Settlements

Last week, in an opinion authored by Judge Richard Posner, the U.S. Court of Appeals for the Seventh Circuit rejected a proposed class-action settlement arising from Walgreen Co.’s acquisition of the Swiss-based pharmacy...more

Seventh Circuit Brands Disclosure-Only Settlement a “Racket” and Endorses Delaware Court of Chancery’s Stricter Standard for...

In a 2-1 decision, the Seventh Circuit has joined the Delaware Court of Chancery’s call for enhanced scrutiny of “disclosure-only” M&A settlements that involve no monetary benefits to shareholders. As previously discussed,...more

Seventh Circuit Criticizes Disclosure-Only M&A Litigation Settlements, Holding That Supplemental Proxy Disclosures Must Address...

In In re Walgreen Co. Stockholder Litigation, No. 14 C 9786, 2016 WL 4207962 (7th Cir. Aug. 10, 2016) (Posner, J.), the United States Court of Appeals for the Seventh Circuit issued a highly charged opinion critical of an...more

The How Question in Due Diligence

by Thomas Fox on

What is satisfactory due diligence under the Foreign Corrupt Practices Act (FCPA)? That question seems to be more important after the Huffington Post’s story on Unaoil and the subsequent release of the Panama Papers. However,...more

Your daily dose of financial news The Brief – 5.26.16

by Robins Kaplan LLP on

The SEC has opened an inquiry into Alibaba’s accounting related to affiliated companies and related-party transactions, a big deal for a company “long seen as a symbol of China’s growing technological might”...more

Your daily dose of financial news The Brief – 2.11.16

by Robins Kaplan LLP on

Day 1 of Dr. Yellen’s trip to the Hill is done, and the official tone is “cautious,” with Yellen predicting continued economic growth and eventual additional rate hikes but expressing concerns about international threats to...more

Legal Considerations for Retail Clinics

by McGuireWoods LLP on

Retail clinics have grown substantially in number and popularity since their emergence in the early 2000s. Retail clinics are limited healthcare clinics that operate outside of physician offices and hospitals, typically in...more

American Businesses Installing More Solar Than Ever

Last week the Solar Energy Industries Association (SEIA) released a report highlighting the rapid growth in the use of solar energy by American businesses. According to the study, the top corporate solar users now operate...more

Highlights from the Tenth CEO/Innovators Roundtable: June 4 – 5, 2015

by Foley & Lardner LLP on

This past June, leaders from health systems, outpatient services companies, health insurers, IT and equipment suppliers, health retailers, home care providers, pharmaceutical companies, and investors gathered in Chicago for...more

Avoiding the Costly “Robo No-No”

by Buchalter on

The Telephone Consumer Protection Act (“TCPA”) was enacted to protect consumers from intrusive robocalls, but Congress probably did not foresee that it would result in a windfall for plaintiff’s lawyers. Virtually every...more

Coalition Loyalty Programs Spread to Retail Shopping In the U.S.

by Goulston & Storrs PC on

Seven major brands, including Macy’s, Rite Aid and ExxonMobil, recently joined forces to launch “Plenti,” a loyalty program that encompasses an entire team of retailers. American Express, which operates the program,...more

A Gathering Storm in the Dietary Supplement World

by Baker Donelson on

This past February, the New York State Attorney General's office accused four major retailers of selling fraudulent and possibly dangerous herbal supplements and demanded that they remove the products from their shelves. The...more

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