This Week's LOTW Runner-Up and Shout Outs
Latham & Watkins scored a huge win at the ITC in a trade secret showdown over electric vehicle batteries.
February 19, 2021 at 07:25 AM
4 minute read
Our first runner-up this week is a team at Latham & Watkins led by partners David Callahan and Bert Reiser and counsel Sarah Gragert who got a huge win at the U.S. International Trade Commission in a trade secret battle involving electric vehicle battery technology. The full commission last week largely adopted the holdings of an earlier ruling from an administrative law judge who entered a default judgment for Latham client LG Energy Solutions based on a "document deletion campaign" mounted by rival SK Innovation in anticipation of the investigation. On Feb. 10, the full commission affirmed the ALJ's initial determination and issued a 10-year exclusion order barring SK from importing batteries or components used to make them. The ITC offered SK limited carve-outs for three existing customers and will require SK to get commission sign-off on any "designed-around" products. The Latham team also included Jeffrey Homrig and Joseph Lee.
A shout out goes to a Jenner & Block team led by Stephen Ascher who this week got a first-of-its-kind ruling in a securities fraud class action against a consumer cannabis company. U.S. District Judge Brian Cogan in Brooklyn on Tuesday held that the plaintiffs' claims against Jenner client Curaleaf were based on "the nondisclosure of information that was actually disclosed" and dismissed the suit with prejudice. The Jenner team also included partner Andrew Lichtman and associates Jeremy Ershow and Allison Douglis.
Also on the securities litigation front, shout out to Sara Brody and Jaime Bartlett of Sidley Austin who last week secured dismissal of the last remaining securities suits against SunEdison's officers and directors stemming from the company's 2015 stock price drop and liquidity issues that led to its 2016 bankruptcy. The team managed to get all of the cases resolved within the available insurance coverage, so no individual defendants had to pay damages out of pocket. Sidley partner Norm Blears, counsel Robin Wechkin, and associate Sarah Hemmendinger also worked on the matter.
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J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
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Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
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Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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