We’ve all read countless headlines and articles about the removal and swift return of Sam Altman as CEO of OpenAI over the past several weeks. Simply put, the nonprofit board voted to remove Altman as a result of a...more
Down rounds—equity financing rounds where the company’s valuation is lower than at least one of its previous rounds of financing—have been rare in the sellers’ market of the past few years, where high valuations fueled by an...more
The US Court of Appeals for the Federal Circuit endorsed for the first time the “all substantial rights” test to determine whether inventions are commonly owned for purposes of obviousness-type double patenting validity...more
Investing in unicorns is a high-stakes game. These companies are often run by strong, charismatic founder teams, with no shortage of willing investors eager to accept their terms. However, it is important to know your bottom...more
Raising financing is tricky, stressful and for many involves navigating uncharted waters. It is an art and an important skill to master to ensure the future of your start-up. Whether your first investment comes when you...more
The House and Senate reached a compromise on the budget this week and both chambers moved to pass the conference report. Governor Cooper held a “veto ceremony” this afternoon where he expressed his concerns with the budget....more
Section 141(d) of the Delaware General Corporations Law (DGCL) allows the certificate of incorporation (COI) of a Delaware corporation to confer upon one or more directors voting powers greater than or less than those of...more
Last week before his departure USEPA Administrator Pruitt notified the regulated community that he had directed the Agency to update regulations governing the Agency’s use of Section 404(c) veto power in permitting discharges...more
Our February 22 post reported that the Franchise Services of North America, Inc. decision of Bankruptcy Judge Edward Ellington of the Southern District of Mississippi dismissing a Chapter 11 petition because a holder of...more
President Trump’s infrastructure plan includes a number of important proposals. My initial reaction is consistent with my view of many of the President’s initiatives – he gives regulatory reform a bad name. We do need to...more
The Federal Energy Regulatory Commission issued a declaratory order on October 4, 2017, confirming that the purchase and sale of passive tax equity interests in project companies or their upstream owners does not require...more
The FCA continues to be the federal government’s primary civil enforcement tool for investigating allegations that healthcare providers or government contractors defrauded the federal government. In the coming weeks, we...more
If, as the saying goes, power corrupts and absolute power corrupts absolutely, what then to make of the government’s absolute veto power over False Claims Act settlements? In United States ex rel. Michaels v. Agape Senior...more
The False Claims Act, 31 U.S.C. §§ 3729-3733, continues to pose unique liability risk for aerospace, defense, and government services (ADG) companies that directly or indirectly conduct business with the U.S. Government. In...more
In In re FedEx Ground Package Sys., Inc. Employment Practices Litig., No. 3:05-CV-595 RLM, 2017 WL 632119 (N.D. Ind. Feb. 14, 2017), only one of a total of seven class representatives signed off on accepting a proposed class...more
After granting the relators’ petition for an interlocutory review of the district court’s rejection of the use of statistical sampling to establish FCA liability, the Fourth Circuit ultimately declined to reach that issue in...more
While all hoped the Fourth Circuit would finally provide some clarity regarding the use of statistical sampling in False Claims Act (FCA) cases, Valentine’s Day 2017 yielded some surprising events for those awaiting the...more
Tuesday, the Fourth Circuit Court of Appeals ruled in the interlocutory appeal in United States ex rel. Michaels v. Agape Senior Community, Inc.. In an opinion considering two significant questions arising under the qui tam...more
A judge in the Northern District Court of California ruled that a virtual reality firm’s “right to veto” provision in its partnership agreement prevented the company from bringing suit against Oculus VR, LLC (“Oculus”), a...more
On March 17, 2016, the U.S. Department of Justice (“DOJ”) filed a brief in an eagerly anticipated case that addresses the use of statistical sampling in FCA cases for the first time at the appellate level. The case is United...more
On September 29, 2015, the United States Court of Appeals for the Fourth Circuit agreed to hear on interlocutory appeal the controversial issue of reliance on statistical sampling in a whistle-blower action to prove liability...more
Illinois Governor Bruce Rauner vetoed a bill amending the state’s data breach notification law on August 21, 2015, saying in a letter to the General Assembly that the bill “goes too far, imposing duplicative and burdensome...more
Section 106 of the National Historic Preservation Act - Even experienced project proponents can get caught off guard by common misunderstandings about cultural resources protection laws. One of the most misunderstood...more
Hoping to avoid a potential government shutdown, this week the Legislature passed a biennial budget that once again makes significant tax changes, but stops well short of the major tax reform desired by many legislators. The...more
As a follow up to our prior coverage, Governor Dayton vetoed the jobs and energy bill that passed in the final few minutes of the 2015 regular legislative session. Governor Dayton’s veto letter can be found...more