Topic: News

Indian Patent Office Grants Compulsory License for Generic Version of Bayer’s Nexavar

On March 12, 2012, India’s Patent Office granted Indian drug manufacturer Natco Pharma a compulsory license to sell a generic version of Bayer AG’s kidney and liver cancer drug Nexavar. It’s the first time an Indian company has been granted a compulsory license under the Indian Patent Act of 2005, the law which allows the… Read more »

Supreme Court Remands Myriad Following Rejection of Prometheus Patents

When a unanimous Supreme Court earlier this month rejected Prometheus’ claims that isolated DNA sequences are patentable (see Mayo v. Prometheus: SCOTUS Issues Landmark IP Law Opinion), many wondered if the diagnostic testing patents held by Myriad Genetics would meet a similar fate. It took less than one week to get the answer. On March… Read more »

Lawyer: Asking for Facebook Password in Hiring Process Might Violate the Federal Stored Communications Act [Video]

JD Supra Biznews: The web is abuzz with news (and fairly unanimous outrage) that some employers are asking job candidates for their Facebook passwords, as way to do proper due diligence on the folks they’re hiring. Make what you will of the practice, personally, there are certainly legal implications to it. … Watch the video:… Read more »

Lawsuit Against Government of Kenya Dismissed on Sovereign Immunity Grounds

The outcome of Community Finance Group’s lawsuit against the Republic of Kenya over a failed purchase of Kenyan gold provides a valuable lesson in the challenges of conducting business with sovereign powers. From law firm Cadwalader: “The business transaction was either not papered or was papered without a waiver of sovereign immunity. Nor, apparently, did… Read more »

International Law: India Supreme Court Ruling, Data Privacy in China, Russia Update, & More

For your reference, here’s a roundup of recent legal developments affecting US corporations and financial institutions doing business around the globe: Supreme Court of India’s Vodafone Judgment: Implications for International Investors (White & Case LLP) “On January 20, 2012, the Supreme Court of India delivered a landmark judgment in Vodafone International B.V. v. Union of… Read more »

Securities Law Roundup: Whistleblower Programs, CFTC Rules, Market Timing, Email Fraud, Cybersecurity Risks, and More

For your convenience, a roundup of securities law advisories published recently on JD Supra: On Whistleblower Programs – Whistleblower Bounty Program: Corporate Compliance Program Considerations [King & Spalding] “The SEC recently reported to Congress that during the first seven weeks of the program’s operation, it received 334 whistleblower tips, which most commonly focused on market… Read more »

White-Collar Conviction Vacated

“In an unusual move,” writes Sarah Riley Howard from Warner Norcross & Judd’s White Collar practice, “the Sixth Circuit ordered that a Tennessee businessman’s conviction for bank fraud must be vacated.” Convicted for his participation in a scheme to conceal the amount of loans granted his business, Timothy Parkes was acquitted after spending more than… Read more »

Corruption Roundup: FCPA Enforcement, Japan and Nigeria Bribery, Govt Investigations…

For your Monday morning reading pleasure, three quick links to corruption and compliance-related advisories recently published on JD Supra: – The Expansive Reach of the FCPA Extends to Japan Again: A Second Japanese Company Resolves FCPA Charges Related to a Nigerian Bribery Scandal From Morrison & Foerster: “The Marubeni case stems from a scheme by… Read more »

HIPAA Compliance: 6 Audit Questions (and Answers) for Covered Entities

Late last year, members of the Senate Judiciary Committee challenged regulators to step up enforcement of the Health Insurance Portability and Accountability Act: “… the Subcommittee made clear that the [Office for Civil Rights’] efforts fell far short of its expectations, pointing out that, of tens of thousands of HIPAA complaints received by OCR since… Read more »

Anti-Bribery: Prosecutorial Misconduct, Private Suits, IRS Enforcement, China, Mexico, and Other Updates

For your reference, a roundup of recent law firm commentary touching upon some of the issues central to the ongoing, global fight against bribery and corruption: DOJ’s FCPA Trial Record (Michael Volkov) “The O’Shea case was an unfortunate result. The judge was no friend of DOJ. He has a reputation as an anti-government judge, and… Read more »

Investment Advisers: 3 Takeaways from SEC Risk Alert on Social Media Use

On January 4, 2012, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations issued a National Examination Risk Alert on the use of social media by registered investment advisers. Issued the very same day that the SEC charged an investment adviser with offering to sell more than $500 billion of fictitious securities via… Read more »

Ecuador Notches Two Victories Against Chevron

From Cadwalader, Wickersham & Taft LLP, analysis of two recent judicial decisions in the long-standing Lago Agrio dispute between Chevron and plaintiffs in Ecuador suing the global energy company for environmental contamination.  The first looks at an appellate decision in Ecuador that affirmed an $18 billion judgment against Chevron: “… we are not certain how… Read more »

China Law Roundup: Foreign Investment, U.S. Listings, MOFCOM, IP, and more

“Some companies believe that by being listed abroad, they do not benefit from brand awareness, and thus their shares suffer from low trading volume and low p/e multiples. Evidence suggests that these companies’ shares typically trade at a significant discount compared to their peer companies listed on the Chinese and Hong Kong stock exchanges. In… Read more »

Foreign Corrupt Practices Act/Anti-corruption: What to Expect in 2012

From global law firm K&L Gates, a look ahead at FCPA and anti-corruption activities in 2012: “…law enforcement actions against international corruption have become commonplace. What is noteworthy as we enter 2012 is precisely how routine the activity in this area has become. The U.S. Department of Justice (DOJ) suffered a couple of embarrassing setbacks… Read more »