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Tobacco Companies Handed a Win; States May Face $1B Loss
A New York appellate panel handed tobacco companies a victory Thursday by ruling that disputes over reductions in their payments to the states under a $206 billion nationwide settlement must go to arbitration. Under the settlement, which compensates states for funds spent treating smoking-related illnesses, the states receive $6.2 billion annually from 45 participating companies. The ruling has enormous fiscal implications for the states as the reduction could amount to more than $1 billion a year.Am Law 100 Trio Tune In for Television Station Tie-Up
Debevoise & Plimpton, Fried Frank, and Gibson, Dunn & Crutcher are advising on an all-stock merger between Media General and New Young Broadcasting that will create a television broadcast company with 30 stations in 27 markets.Before: Leval, Pooler and Hall, C.JJ.Decided: July 13, 2010CARTER PHILLIPS, Sidley Austin LLP, Washington, DC (R. Clark Wadlow
PUBLISHEDUNITED STATES COURT OF APPEALSFOR THE FOURTH CIRCUITLYONS PARTNERSHIP, L.P., a TexasLimited Partnership,Plaintiff-Appellant,v.
New Deals: Lawyers on Major Transactions
In a deal valued at about $650 million, New York-based media conglomerate Viacom Inc., whose assets include television networks CBS, UPN, MTV and Nickelodeon, as well as the Showtime cable network, video rental powerhouse Blockbuster and publisher Simon & Schuster, announced last week that it had reached an agreement to purchase Los Angeles television station KCAL-TV from New York`s Young Broadcasting Inc. The acquisition of KCAL gives Viacom two owned and operated television stations in Los Angeles,Options 'givebacks' likely to grow
Plaintiffs' and defense lawyers are pointing to the recent settlement of a stock-options backdating case � which featured options "givebacks" from executives � as a model likely to be followed in similar cases.Cite as: ABC, Inc. v. Federal Communications Commission, 08-0841-ag (Lead), NYLJ 1202477104261, at *1 (2d Cir., Decided January 4, 2011) Before: Richard C. Wesl
Cite as: ABC, Inc. v. Federal Communications Commission, 08-0841-ag (Lead), NYLJ 1202477104261, at *1 (2d Cir., Decided January 4, 2011) Before: Richard C. Wesl
State of New York, plaintiffs-respondents v. Philip Morris Inc., defendants
Tobacco Companies� Claims for Reduced Payments To States Under 1998 Settlement Must Be ArbitratedOptions 'Giveback' Settlements Could Become Trend
Defense and plaintiffs lawyers are pointing to the recent settlement of a stock-options backdating case, which featured options "givebacks" from executives, as a model likely to be followed in similar cases. The settlement of a derivative case involving Family Dollar Stores, and 13 current and former executives and officers, calls for four executives to relinquish 210,000 unexercised options. Both plaintiffs attorneys and defense counsel seem to be open to the idea of such givebacks becoming a trend.Trending Stories
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