Legal News

The North Carolina Supreme Court recently issued a decision in Crescent University City Venture, LLC v. Trussway Manufacturing, Inc. The case decided the question of whether a commercial developer-owner can bring a negligence claim directly against a supplier of defective building material where no direct contract existed between the owner and supplier....By: Smith Anderson

In an acquisition, particularly an equity acquisition, a buyer must perform extensive due diligence on the target company to understand, as thoroughly as possible, the risks associated with the acquisition. In most cases, however, the buyer cannot fully evaluate or even identify all sources of risk that it will assume post-closing. To address these uncertainties and allocate these potential risks, the buyer and seller negotiate indemnification provisions that set forth the scope of each party’s...

An important update to Georgia’s statutory lien waiver laws took effect on January 1, 2021. The amendment to Georgia’s mechanic’s lien law alters the form for interim and final lien waivers. Essentially, the new statute clarifies that lien waivers only waive lien or bond rights against the property and do not waive the right to file a lawsuit for nonpayment or other claims. The law also extends the deadline to file an affidavit of nonpayment from 60 days to 90 days......By: Bradley Arant Boul...

The Italian pharmaceutical company Angelini Pharma announced on January 4, 2021, that it will acquire emerging Swiss biotech company Arvelle Therapeutics for a total aggregate valuation of up to $960 million. Angelini Pharma will pay Arvelle Therapeutics $610 million following the European Medicines Agency’s (“EMA”) approval of the epilepsy drug cenobamate, sold under the brand name Xcopri®. Arvelle will also receive another $350 million if cenobamate reaches certain revenue targets....By: Ro...

Our latest articles on recent issues and news affecting UK construction businesses. Brexit – and the new trade and cooperation agreement - The UK exits the EU and the end of the Transition Period - The UK ceased to be an EU member state on 31 January 2020. Many of the effects of that change were not felt thanks to the Withdrawal Agreement, which provided for a "Transition Period" from 1 February 2020 to 31 December 2020. During that time, EU law effectively continued to apply in and to the...

A roundup of the principal new rules and amendments promulgated by the SEC in 2020 that public companies with December 31 fiscal years should consider when preparing their Annual Reports on Form 10-K for 2020. Public companies should review the descriptions of their business, legal proceedings, and risk factors in light of the modernization amendments to Regulation S-K that became effective in November 2020....By: Pillsbury Winthrop Shaw Pittman LLP

This first known decision interpreting the statute clarifies the consequences of an Owner’s failure to properly reject applications for payment. A recent first-of-its-kind ruling from the Massachusetts Superior Court provides a critical lesson for project owners and contractors concerning the Massachusetts Prompt Payment Act (the “Prompt Pay Act”)....By: Murtha Cullina

By means of Resolution No. 77896 of 2020, the Superintendence of Industry and Commerce (SIC) in Colombia established the value of operational income and/or total domestic assets that should be considered when evaluating the need for conducting merger control....By: Holland & Knight LLP

In light of the COVID-19 pandemic, our 9th McDermott International Seminar Series will be held as a virtual series, with eight sessions taking place between January 21 – February 4, 2021. Though we cannot see you in person, we didn’t want to miss the opportunity to connect with you on the latest legal topics affecting Japanese companies. The virtual event series will explore US trade policy, global mergers and acquisitions, the US healthcare market, intellectual property, international data....

Frazier Healthcare Partners has acquired a 50% stake in CSafe Global from Thomas H. Lee Partners (THL), according to a news release. CSafe Global, based in Dayton, Ohio, is a provider of cold chain shipping solutions to global pharmaceutical and life sciences companies....By: McGuireWoods LLP