By Jenna Greene | August 30, 2017
The beauty (or the terror, depending on your perspective) of the Justice Department's Antitrust Division is that you never know where it'll strike. One minute the feds are taking down multi-billion dollar international cartels. The next, they're busting players in an industry that sounds more like a Downton Abbey plot device: heir location services
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By Anna Zhang | August 30, 2017
Seyfarth Shaw has formed an association with a Hong Kong law firm, and has hired King & Wood Mallesons partner Raymond Wong to serve as managing partner of the firm's recently opened Hong Kong office.
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By Gabrielle Orum Hernandez | August 29, 2017
The new index, spearheaded by Michigan State's Daniel Linna, is an effort to infuse data into legal services innovation.
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By David J. Rosenberg and Nicholas A. Pasciullo | August 29, 2017
Pittsburgh is at the epicenter of autonomous vehicle research and testing. Pittsburgh Uber riders are currently being serviced by a fleet of autonomous Volvo vehicles developed in conjunction with Uber's Advanced Technology Center in Pittsburgh. Ford Motor Co. committed to investing $1 billion over five years in Argo AI, a Pittsburgh-based artificial intelligence startup created by Carnegie Mellon University alumni and staff that combines computer science, robotics and artificial intelligence for fully autonomous vehicles that Ford plans to introduce in 2021. Recently, General Motors bought Cruise Automation for $1 billion and is preparing its Cadillac line for even greater automation.
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By William Ellerbe | August 29, 2017
On March 1, the Pennsylvania Commonwealth Court ordered the liquidation of affiliated long-term care insurers Penn Treaty Network America Insurance Co. (PTNA) and American Network Insurance Co. (ANIC) (collectively, Penn Treaty). Penn Treaty, which sold long-term care insurance policies for decades, had been placed into rehabilitation in January 2009 by the Pennsylvania insurance commissioner. The liquidation order followed years of litigation and efforts to rehabilitate the company. According to filings in the case, as of May 2016, the PTNA arm of Penn Treaty was insolvent by $3.82 billion and would run out of assets in 2018; with ANIC added, the total insolvency of Penn Treaty was an estimated $4.33 billion. (See In re Penn Treaty Network American Insurance, Doc. No. 1 PEN 2009, Verified Pet., July 17, 2016; In American Network Insurance, Doc. No. 1 ANI 2009, Verified Pet., July 17, 2016).
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By Allison Krupp | August 29, 2017
Nine years. That's how long it took for Airbnb to grow from a zero-dollar company to a $30 billion company. Few other businesses in American history can boast such an impressive initial track record. Various forms of "disruptive technology"—like Airbnb—are changing the way we travel, drive, eat and live. Americans are no longer satisfied with the limited options provided by hotels, motels and traditional bed and breakfasts. Airbnb recognized this gap in the market and capitalized on it handsomely. While various other companies, including Expedia and Priceline, are racing to catch up, Airbnb remains the leading "home sharing" company. With that success, however, have come certain challenges that the government, judicial system and insurance companies are still struggling to identify and understand. One such challenge is how innovative concepts like Airbnb impact existing homeowners' insurance.
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By Terrence Tracy | August 29, 2017
Many types of insurance are viewed only as a form of protection against downside risk. But certain coverages can do much more than offer protection, they can actually offer a business advantage that allows companies to achieve success relating to an acquisition where it would otherwise not be possible. Such is the case with Reps and Warranty (R&W) insurance. R&W insurance provides coverage against financial loss caused by breaches of the representations and warranties made in the M&A agreement. While every business does extensive due diligence to verify information provided by their deal partner before closing, the fact is that any complex transaction contains a certain number of unknown risks and unforeseeable circumstances. Often these unknowns do not reveal themselves until well after a deal has closed. R&W insurance is particularly useful to buyers in these circumstances.
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By Lizzy McLellan | August 29, 2017
Satisfaction among women and minority midlevel associates was slightly lower than overall scores in our Midlevel Associates Survey.
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By Commentary by Seth J. Entin | August 29, 2017
On July 13, the U.S. Tax Court, issued a decision that is of major importance to non-U.S. investors. In Grecian Magnesite Mining, Industrial & Shipping…
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Delaware Business Court Insider
By Tom McParland | August 29, 2017
A Delaware federal judge on Tuesday ordered a patent infringement case involving two Finnish companies transferred out of the Delaware district court, in an unusual ruling that diverged from one issued by the U.S. Federal Circuit Court of Appeals.
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