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Texas executes 400th inmate (AFP)
AFP - A convicted murderer on Wednesday was put to death by lethal injection, in Texas' 400 execution since the US Supreme Court reinstated capital punishment in 1976.
In Win for Drug Manufacturers, 3rd Circuit Rules Only FDA Can Regulate Ads
In a big win for drug manufacturers, the 3rd Circuit has ruled that federal law bars a suit alleging false-advertising claims under state law because the U.S. Food and Drug Administration has “exclusive authority” to regulate prescription drug advertising. But a dissenting judge complained that such “implied conflict pre-emption” of state law was unwarranted since the FDA doesn’t have the power to require pre-approval of ads and lacks the resources to police the ads that run after drugs are approved.
Patent Defendants Score Big at Federal Circuit
Tech company general counsel, who routinely wrestle with claims of patent infringement, can breathe a sigh of relief, thanks to a Federal Circuit decision Monday that makes it far more difficult to accuse a company of willful patent infringement, a claim that can result in triple damages. The ruling also made a crucial clarification regarding waivers of attorney-client privilege. The Federal Circuit received nearly two dozen amicus briefs on the issue.
Top court judge rejects doctor’s request (AP)
AP - A cancer researcher is asking the Supreme Court to block a decision handing ownership of thousands of blood and tissue samples to a university.
SEC Charges Brocade’s Former CFO in Backdating Case
Internal strife at the SEC tanked a proposed settlement with Michael Byrd, the former CFO of Brocade Communications. Upset that a million-dollar deal proposed by the SEC’s enforcement division wouldn’t have barred Byrd from being an accountant at other public companies, the SEC’s accounting division scuttled the agreement, said lawyers briefed on the case. Byrd was a key figure in the criminal trial that ended with a conviction of former Brocade CEO Gregory Reyes for backdating stock options.
Qualcomm Cites Client Confidentiality in Discovery Mess
In a case marred by discovery errors, Qualcomm’s trial counsel are in a place no lawyers want to be. The Day Casebeer Madrid & Batchelder and Heller Ehrman lawyers face the prospect of individual sanctions and possible State Bar discipline for their mistakes in a San Diego patent case. But they have yet to explain to the judge how those discovery blunders came to pass. That’s because Qualcomm has told the magistrate judge in the case that such an explanation would violate attorney-client privilege.
Solicitor General Sides Against SEC in Major High Court Securities Case
In the cage match of the securities bar, Solicitor General Paul Clement has sided with corporate interests over investors. Clement on Wednesday filed an amicus brief for defendants in a Supreme Court case that may decide whether lawyers, accountants and bankers can be sued by private investors for activities that arguably go beyond aiding and abetting corporate fraud. In an extraordinary turn of events, the case has
exposed a rift between the SEC and the Bush administration and its Department of Justice.
Gov’t supports business in investor case (AP)
AP - The Bush administration on Wednesday took the side of defendant companies in a Supreme Court case that could determine the fate of other investor lawsuits including one stemming from the Enron scandal.
Gov’t supports business in investor case (AP)
AP - The Bush administration on Wednesday took the side of defendant companies in a Supreme Court case that could determine the fate of other investor lawsuits including one stemming from the Enron scandal.
$4 Billion Suit Against Akin Gump Highlights Hedge Fund Representation Risks
A $4 billion damages claim filed against Akin Gump by two former hedge fund managers who claim the firm advised them that late trading was legal is a new development for law firms and shows the risks they face as they try to reap the rewards of representing private investment funds. The funds generate high legal bills, but they’re apt to strike back hard if they feel firms have led them astray. In a typical securities class action, a law firm is a minor defendant after deep-pocket financial institutions.