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This could be a game changer, folks--and it couldn't come at a more critical moment for opponents of the deals that keep generic drugs off the market.
The Justice Department has been accused by a bankruptcy judge of engaging in "unacceptable conduct" in reaching a settlement with Kaye Scholer, which in turn has been blamed for acting unethically in advising GSC Group in the investment firm's Chapter 11 proceedings. Judge Shelley Chapman's attack on the department came during a Tuesday hearing.
FCC's Role in Telecom Mergers Questioned
Charging that the Federal Communications Commission's review of telecommunications industry mergers is impeding competition, several members of Congress are pushing proposals to alter the agency's role in the process. Some say the FCC is slowing down deals among phone, cable and wireless companies by sitting on merger applications, applying arbitrary evaluation standards and imposing costly conditions on merging parties.A week after the firm resolved claims that it mishandled its application to work on GSC Group's Chapter 11 filing, two Kaye Scholer lawyers are due to testify Tuesday about what a key figure in the case said at a critical meeting with Justice Department lawyers.
Ever since Visa and MasterCard reached a $7.2 billion agreement to resolve merchant claims over credit card "swipe fees," critics have been coming out of the woodwork. Now they've formally opposed the class action settlement in court, with the objector's lawyers at Constantine Cannon warning of "serious risks" if the deal is approved.
How Boardrooms Are Handling Internal Probes
Morgan Stanley's decision to call in Paul Weiss rather than rely on its primary outside counsel to conduct an independent, internal investigation of the Chris Curry scandal is becoming more common in corporate boardrooms across the country.Unsecureds to Fight Health Care Merger
Bankrupt companies Genesis Health Ventures and The Multicare Companies want to take the novel step of emerging from Chapter 11 as one in an estimated $1.5 billion merger, but unsecured creditors of Multicare are seeking to block such a deal. Genesis already owns 43.6 percent of Multicare, and that has led Multicare unsecured creditors to file a lawsuit claiming Genesis has a conflict of interest.Proposed Merger by Joint Reorganization Gains New Life
Creditors dropped a lawsuit seeking to stop Genesis Health Ventures' proposed takeover of Multicare Cos. Inc., giving new life to what could be the first merger between two bankrupt companies. The unsecured creditors committee in Multicare's Chapter 11 filing agreed to end its suit seeking to block the merger in return for 2.5 percent of the equity in the combined company and 4 percent of the new warrants.'Net Neutrality' Policy In Doubt After Ruling
Comcast Corp.'s courthouse victory over the Federal Communications Commission last week might not turn out to be a win for the company after all if it speeds the path for wider regulation of broadband services.Corporate Transparency Act Resource Kit
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Law Firm Operational Considerations for the Corporate Transparency Act
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