Legal News

The Digitalization Act, which entered into force on January 19, 2021, substantially extends the scope of German antitrust law to tackle presumed enforcement challenges in the digital economy and raises merger control thresholds across all industries. The Digitalization Act is the 10th amendment of the German Competition Act (GWB), the so-called GWB10. The most prominent changes include......By: Latham & Watkins LLP

Markets gave a warm welcome to the Biden administration on Wednesday, as strong tech performance and hopes of “large-scale economic stimulus” helped power an across-the-board rally that brought all three major U.S. indices into “record territory”......By: Robins Kaplan LLP

On January 12, 2021, the United States District Court for the Southern District of New York dismissed a putative class action complaint against Bemis Company Inc. and members of its board of directors (collectively, “Bemis”) that alleged materially misleading statements in connection with a merger, in violation of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in In re Bemis Co. Sec. Litig.[1] This decision is significant because it provides favorable.....

NovaQuest Private Equity has announced it has acquired CoreRx. CoreRx, based in Clearwater, Fla., is a contract development and manufacturing organization that serves small to mid-sized pharmaceutical and biotech organizations....By: McGuireWoods LLP

What Happened - On December 15, 2020, the Federal Deposit Insurance Corporation (FDIC) adopted a final rule, effective April 1, 2021, setting forth conditions, commitments, and requirements for the approval of deposit insurance applications, changes in control, and merger transactions in which an insured industrial bank or industrial loan company (ILC) would become a subsidiary of a company not subject to consolidated supervision from the Federal Reserve Board that would directly or indirectly...

On December 30, 2020, the EU and China announced the conclusion of the negotiations of the investment treaty, the EU-China Comprehensive Agreement in Investments (CAI). The CAI represents a strategic opportunity for EU companies, financial institutions and funds to invest in China. This treaty contains two significant overarching commitments by China: market access and fair…...By: Orrick, Herrington & Sutcliffe LLP

A recent Massachusetts trial court decision ruled that any objections to a payment application are waived unless a reviewing owner or contractor strictly follows the Massachusetts Prompt Payment Statute, Prompt Payment Act, G.L. c. 149, § 29E, which applies to most projects with a prime contract worth more than $3 million. See Tocci v. IRIV Partners, LLC, et al., Suffolk Superior Court, 1984CV000405 (November 19, 2020)....By: Saul Ewing Arnstein & Lehr LLP

During its Q4 earnings report yesterday, Netflix announced a significant departure from past practice: it’s done borrowing money (for now, at least). After borrowing “over $16 billion to feed its titanic appetite for content” over the past decade, the ‘Flix is reporting that it’s not only making enough money to pay off its loans while…...By: Robins Kaplan LLP

Within the past month, the Department of Justice Antitrust Division (the Division), in two separate matters, indicted a former owner of a health care staffing company for participating in a conspiracy to fix prices by lowering the rates paid to physical therapists and physical therapist assistants, and a health care company that owns and operates outpatient medical care centers across the country for agreeing with competitors not to solicit senior-level employees......By: Lowenstein Sandler LLP

Fiat Chrysler and France’s PSA Group completed their mega-auto-merger first agreed-to in late 2019, “creating Stellantis NV, a global auto-making giant that executives say will have the heft needed to compete in the fast-changing industry”......By: Robins Kaplan LLP