In-flight internet company Gogo Inc. failed to convince a judge in the U.S. District Court for the Northern District of Illinois to dismiss claims against it and several of its executives that the company violated the Securities Exchange Act. According to Law Street, the plaintiff accuses Gogo of making false and misleading public statements about its in-flight WiFi system, saying the company did not disclose the fact that its systems would not work on planes on which de-icing fluid was recently applied. Neal, Gerber & Eisenberg and Shearman & Sterling are defending Gogo in the case.
Attorneys in Burns & Levinson‘s business law group represented Boston biotechnology company Anodyne Nanotech Inc. in a recent deal, the firm announced. The firm closed a $4.2 million seed investment in Anodyne that will allow the company to expand its microneedle technology platform, Hero Patch. The investment came from Velocity Partners, Relativity Healthcare Fund and Big Pi Ventures.