The trillion-dollar question: Can private lawyers hold drug companies accountable for the opioid epidemic?
Cities, states and counties across the country have hired private lawyers to sue the pharmaceutical companies that they blame for the addiction crisis that has cost tens of thousands of lives – and billions of dollars. One of the leaders of the private litigation, Paul Hanly, discusses why he thinks it’s okay for lawyers with a profit motive to step in when governments can’t otherwise afford to hold defendants accountable. Listen
In a column last week about oral arguments at the U.S. Supreme Court in Emulex v. Varjabedian, I predicted that the court’s five conservative-leaning justices would push the court to answer the big question at the Emulex heart of the case – does the Securities and Exchange Act give shareholders a right to sue over allegedly deficient tender offer disclosures? Whether the Supreme Court would reach that broad question was no sure thing: Shareholder counsel Daniel Geyser contended that Emulex had w
Mary Jo White of Debevoise & Plimpton represents four members of the family that controls Purdue Pharma, the company that developed and marketed the painkiller OxyContin. Purdue, along with other opioid makers, wholesalers and distributors, is facing more than 2,000 suits by state, city and county officials who blame prescription opiates for sparking an unprecedented epidemic of drug abuse.
For hedge funds specializing in appraisal litigation – in which shareholders refuse to tender their shares of a target company to the acquirer and instead ask a judge to set a fair value for their stake – there was good news and bad news in Tuesday’s extraordinary opinion from the Delaware Supreme Court in Verition Partners v. Aruba Networks.
At oral arguments Monday at the U.S. Supreme Court in Emulex v. Varjabedian, the big question was whether the justices will use the case to decide if private investors have a right to sue over allegedly misleading tender offer disclosures. Will the court consider the big issue? Or will the justices hew to the much narrower question of the proper pleading standard for shareholder claims?
The key moment in a three-day class action trial accusing the nutritional supplement marketer ViSalus of violating the Telephone Consumer Protection Act came early, according to Greg Dovel of Dovel & Luner, whose firm led the trial for the class. As the second witness to testify, named plaintiff Lori Wakefield, who signed up in 2012 to sell ViSalus products but quickly ended her affiliation with the company, told jurors last week that she had received four automated calls from ViSalus on her hom
When a lawyer wins appointment to lead a big, complex multidistrict litigation that will require thousands of hours of work from other lawyers at her firm, who owns that plum job: the lawyer or her firm?
Defense lawyers representing parents facing conspiracy, fraud and money-laundering charges in the ‘Varsity Blues’ college admissions scandal sent a remarkable letter Tuesday to U.S. District Judge Patti Saris of Boston, chief judge of the district where the parents will be tried.
For the second time in a week, the judge presiding over a securities class action has picked a new investor to take over a case in which the court-appointed lead plaintiff sought to withdraw for personal reasons. On Monday, U.S. District Judge Richard Seeborg of San Francisco ruled that a previously passed-over candidate will now be in charge of a class action claiming that the backers of the $230 million Tezos cryptocurrency offering were selling unregistered securities, replacing a
When I first read an announcement Monday from Burford Capital, I thought the tectonic plates of litigation finance had shifted.
The views expressed by the authors in the Commentary section are not those of Reuters News.