Shareholders of mall operator GGP Inc. who sued in 2018 to stop its $9.25 billion acquisition by Brookfield Property Partners LP got the Chancery Court's nod Tuesday to settle the litigation for $42.5 million, including an $11.4 million fee for the plaintiffs' counsel and incentive awards for three shareholder plaintiffs.
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WEDNESDAY, JULY 17, 2024 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Chancery OKs $42.5M Brookfield-GGP Settlement, $11.4M Fee

By Leslie A. Pappas

Shareholders of mall operator GGP Inc. who sued in 2018 to stop its $9.25 billion acquisition by Brookfield Property Partners LP got the Chancery Court's nod Tuesday to settle the litigation for $42.5 million, including an $11.4 million fee for the plaintiffs' counsel and incentive awards for three shareholder plaintiffs.

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Delta's $16M Pay Stub Deal Scores Initial OK

By Irene Spezzamonte

A California federal judge signed off on a $16 million deal Tuesday settling a suit accusing Delta Air Lines of wage statement violations under the California Labor Code and Private Attorneys General Act, finding the deal fair and reasonable.

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3rd Circ. Backs Tossing Over 1K Suits In Merck Vaccine MDL

By Mike Curley

The Third Circuit on Tuesday affirmed the dismissal with prejudice of 1,189 cases in multidistrict litigation alleging Merck & Co. Inc.'s shingles vaccine, Zostavax, caused the disease, saying the district court did not abuse its discretion by requiring medical tests to support the claims.

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Florida's 'Mother Teresa' Pleads Guilty To $190M Ponzi Scheme

By Carolina Bolado

Johanna Garcia, the former MJ Capital CEO known as "Mother Teresa" in Florida, pled guilty Tuesday to one count in the indictment accusing her of running a $190 million investment Ponzi scheme through the company.

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DIVERSITY SNAPSHOT

The 2024 Diversity Snapshot: What You Need To Know

By Xiumei Dong

Law firms' ongoing initiatives to address diversity challenges have driven another year of progress, with the representation of minority attorneys continuing to improve across the board, albeit at a slower pace than in previous years. Here's our data dive into minority representation at law firms in 2023.

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These Firms Have The Most Diverse Equity Partnerships

By Gerald Schifman

Law360’s law firm survey shows that firms' efforts to diversify their equity partner ranks are lagging. But some have embraced a broader talent pool at the equity partner level. Here are the ones that stood out.

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SECURITIES

Apple's Slowed IPhone Derivative Deal OK'd After Tweaks

By Dorothy Atkins

A California federal judge said Tuesday she would approve Apple's non-monetary settlement to resolve a derivative-shareholder suit over claims it secretly slowed iPhones and award counsel $6 million in attorneys fees and expenses, after she rejected an earlier version of the deal because of the proposal's overbroad release of claims.

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Solar Co. Cites Macquarie In Fight Against Investor Suit

By Jessica Corso

SolarEdge Technologies Inc. has moved to dismiss a proposed class action accusing it of misrepresenting the demand for its solar energy products in Europe, arguing that investors' claims that it had to make a detailed accounting of its inventory levels and sales practices do not meet the standard set out by the U.S. Supreme Court's recent Macquarie ruling.

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Drugmaker BioLineRx Beats Investor Suit Over Cash Shortfall

By Katryna Perera

Israeli biotech company BioLineRx has, for now, beaten a proposed class action over claims that it misled investors on its capital shortfall, which caused a major decline in its share price, with a New Jersey federal judge saying the plaintiffs have failed to plead any actionable misleading or false statements.

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Rocket Cos. Investors Drop CEO Retweet Claims From Suit

By Emilie Ruscoe

Investors in mortgage lender Rocket Companies have dropped certain proposed class action claims against the company's CEO, telling a Michigan federal judge that they would no longer accuse the executive of securities fraud over a March 2021 retweet.

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​​​​​​​Apollo's $1.85B Mining Co. Deal Sparks Del. Suit For Docs

By Jeff Montgomery

An investor sued a mining and logistics company in Delaware's Court of Chancery seeking documents regarding the firm's $1.85 billion go-private deal with affiliates of asset management giant Apollo, approved Tuesday by the mineral producer's stockholders, asserting that there are credible concerns over pre-transaction communications between its executives and Apollo about their jobs.

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COMPETITION

Tesla Swaps Cravath Out, WilmerHale In For Antitrust Defense

By Lauren Berg

WilmerHale has taken over from Cravath Swaine & Moore LLP as counsel for Tesla in a proposed class action in California federal court alleging the company runs an unlawful monopoly on parts for its electric vehicles.

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Google Maps Antitrust Suit Deleted For Good

By Bryan Koenig

A California federal judge permanently dismissed a proposed class action targeting Google's Maps product, rejecting arguments that the company's terms of service barred third parties from using rival route guidance or places-of-interest tools with a Google-furnished map.

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EMPLOYMENT & BENEFITS

5th Circ. Preserves Class Cert. In Fringe Benefits Fee Fight

By Kellie Mejdrich

The Fifth Circuit affirmed a district court's decision to certify a mega class of more than 290,000 workers in a suit against several benefits administration companies alleging mismanagement of their non-union fringe benefits, but found the action should proceed as opt-out and not mandatory class action.

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JB Hunt To Pay $4.2M To End Wash. Pay Range Suit

By Abby Wargo

J.B. Hunt Transport will fork over $4.2 million to a class of 2,200 job applicants to settle a lawsuit accusing the freight company of failing to include salary ranges in job postings and violating Washington state law, according to a court order tentatively approving the deal.

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Baker Hughes 401(k) Participant Wants Class Cert.

By Kellie Mejdrich

An ex-worker for Baker Hughes claiming his employee 401(k) plan lost millions because of unreasonably high recordkeeping fees asked a Texas federal court to certify a class of more than 23,000 retirement plan participants accusing the company of mismanagement, following a failed attempt to mediate the dispute.

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Whataburger Wants Out Of Worker's 401(k) Fund Suit

By Emmy Freedman

Whataburger urged a Texas federal judge to throw out a former employee's proposed class action accusing it of stocking its employees' $215 million retirement plan with poorly performing funds, saying the worker waived his right to sue when he signed a severance agreement.

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NYC To Pay $6.2M To End Rikers Officers' OT Suit

By Elliot Weld

New York City will pay $6.2 million to settle a proposed collective action brought by a group of Rikers Island employees who alleged the city was late in paying their overtime wages and that about $1 million in overtime money was not paid.

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PRODUCT LIABILITY

Gilead Asks Calif. Supreme Court To Ax 'Disastrous' Decision

By Bonnie Eslinger

Gilead Sciences on Monday urged the California Supreme Court to overturn an appellate panel's decision that the company can't ditch claims it held back a safer HIV drug to maximize profits on an older medication, saying that holding manufacturers liable for non-defective products would "yield disastrous policy consequences."

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Unilever Supplier Looks To Drag BP Into Shampoo Class Suit

By Jonathan Capriel

A Unilever supplier is trying to shift the blame in a lawsuit accusing it and the consumer goods behemoth of selling carcinogen-tainted dry shampoo, telling a Connecticut federal court that two of its suppliers, including BP, are actually the ones who should be held liable.

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GNC Fights Claim 'Super Magnesium' Pills Are Subpar

By Rae Ann Varona

GNC Holdings urged an Illinois federal judge Monday to toss a proposed class action alleging it falsely touted "Super Magnesium" supplements as having 400 milligrams of magnesium despite having less than half that amount, saying a consumer lacked standing to sue by failing to allege his own purchase was deficient.

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INSURANCE

Union Fund Trustees Say Elevance Usurped Fiduciary Power

By Patrick Hoff

The trustees of two union health plans said Elevance Health Inc. and its subsidiaries violated federal benefits law when they overpaid themselves for administrative services and medical providers for patient care, arguing the insurer had significant control over the management of the plans and their assets.

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Pet Store Chain Says AIG Unit Must Cover BIPA Claims

By Carolyn Muyskens

An AIG unit is misconstruing policy exclusions in refusing to defend Pet Supplies Plus in a class action alleging violations of Illinois' Biometric Information Privacy Act, the pet store chain told a Michigan federal judge.

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REAL ESTATE

EB-5 Investors Seek Sanctions Over 'Flight Risk' Defendant Info

By Rae Ann Varona

Two dozen Chinese investors who alleged that $13.2 million worth of their investments in a Hawaii resort went missing has urged an Illinois federal judge to sanction developers for not giving them important case information, including contact information for one defendant who they said is an "obvious flight risk."

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SPORTS & BETTING

NCAA On Clock To Fight Injunction Bid In Prize Money Suit

By David Steele

A North Carolina federal judge on Tuesday gave the NCAA more time to respond to a class of athletes challenging rules that bar them from earning outside prize money, after hearing from the athletes that impending events, like the 2024 Summer Olympics, demand quick action in the case.

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PEOPLE

Pillsbury's Miami Litigation Leader Jumps To Sidley

By Madison Arnold

Pillsbury Winthrop Shaw Pittman LLP's Miami litigation practice group leader, who describes himself as "fanatically passionate" about trial work, has hopped over to Sidley Austin LLP as a partner in the firm's commercial litigation and disputes practice.

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EXPERT ANALYSIS

What FTX Case Taught Us About Digital Asset Recoverability

FTX's Chapter 11 plan has drawn lots of attention, but the focus should be on the anticipated outcome for investors, which counters several myths about digital currencies, innovation and recoverability, says Kyla Curley at StoneTurn.

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Series

Serving In The National Guard Makes Me A Better Lawyer

My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.

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LEGAL INDUSTRY

Analysis

3 Reasons Why 2nd Menendez Bribery Case Was The Charm

By Carla Baranauckas

Nearly seven years after the government's first bribery case against longtime U.S. Sen. Robert Menendez collapsed in a hung jury, prosecutors avenged that loss Tuesday by sealing a conviction on a new round of corruption charges.

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Menendez Guilty Of 'Shocking Corruption,' Urged To Resign

By Cara Salvatore, Pete Brush and Carla Baranauckas

A New York federal jury found U.S. Sen. Robert Menendez guilty on Tuesday of taking gold bars, cash and a Mercedes-Benz as bribes from three businessmen, handing a victory to the government on its second try to convict the embattled New Jersey Democrat on corruption charges and prompting calls for his resignation.

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Trump Special Prosecutor Ruling Could Find Favor On Appeal

By Carolina Bolado

When U.S. District Judge Aileen Cannon dismissed the criminal case against former President Donald Trump in Florida over what she said was an unconstitutional appointment of a special prosecutor, she staked out a position that few other jurists have taken, but that could find support among some appellate judges, experts said.

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Ex-Trump Counsel Has Advice For GOP On Judicial Noms

By Courtney Bublé

A former Trump White House official who worked on judicial nominations has advised a potential future Republican administration to be aggressive, proactive and not to compromise on circuit court picks.

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Smirnov Wants David Weiss DQ'd After Trump Docs Ruling

By Hailey Konnath

Former FBI informant Alexander Smirnov said Monday that a Florida federal judge's order disqualifying the special prosecutor in the Donald Trump classified documents case means special counsel David Weiss should also be disqualified from Smirnov's case, according to a motion filed in California federal court.

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Fed. Circ. OKs Judge Connolly's Fine Against IP Biz Owner

By Andrew Karpan

A precedential ruling from the Federal Circuit on Tuesday found that Delaware's top judge has the right to fine a Texas paralegal who is the sole owner of patent litigation outfit Backertop Licensing LLC $200 a day for refusing to show up in court as part of the judge's investigation into whether Backertop and others hid their connection to big-name intellectual property consulting firm IP Edge.

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Musk Says X, SpaceX Moving To Texas Over Calif. Gender Law

By Lauren Berg

Elon Musk took to X Tuesday to announce he will be moving the headquarters of the social media company and his astronautics company, SpaceX, out of California to Texas, after Golden State Gov. Gavin Newsom signed a bill that bars policies mandating that teachers notify parents about students' gender identity.

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$4.5M Davis Wright Deal In Ore. Fraud Suit Gets Final OK

By Sydney Price

An Oregon federal judge has fully adopted a magistrate judge's recommendation to sign off on a $4.5 million deal resolving investor claims against law firm Davis Wright Tremaine LLP for its work representing entities involved in an alleged real estate securities fraud scheme, while two banks were dismissed from the case.

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ACLU Legal Director Leaving For Expanded Georgetown Role

By Kevin Penton

The American Civil Liberties Union's national legal director plans to step down from a role he has held for eight years, the organization confirmed Tuesday.

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Groups Slam UC Berkeley's 'Misreading' Of Antisemitism Case

By Jake Maher

Jewish organizations suing the University of California, Berkeley, and its law school for allegedly tolerating an antisemitic culture on campus fought to keep their suit alive this week in the face of a motion to dismiss, maintaining their claims are ripe despite UC Berkeley's "bold misreading" of the case.

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LAW FIRMS IN TODAY'S NEWS

Abrams & Bayliss

Ackermann & Tilajef

Ajamie LLP

Akin Gump

Altshuler Berzon

Amin Wasserman

ArentFox Schiff

Arnold & Porter

Atheria Law

Atkinson Andelson

Baker & Hostetler

Baker Botts

Baker Donelson

Bell Davis & Pitt PA

Berger Montague

Berry Appleman

Best Best & Krieger

Boies Schiller

Bookoff McAndrews

Bronstein Gewirtz

Bruckner Burch

Buchalter APC

Buckley LLP

Cahill Gordon

Carlton Fields

Carmody Torrance

Chamberlain Hrdlicka

Cleary Gottlieb

Coburn & Greenbaum

Continental PLLC

Cooley LLP

Cravath Swaine

Crowell & Moring

Cuneo Gilbert

Davis & Wright

Davis Wright Tremaine LLP

Diaz Reus

Ellis George LLP

Esler Stephens

Esner Chang

Farella Braun

Feinberg Jackson

Finger & Slanina

Finnegan

Fragomen Del Rey

Freed Kanner

Fullerton Beck

Gibbons PC

Gibson Dunn

Glancy Prongay

Goldberg Segalla

Goodwin Procter

Grant & Eisenhofer

Greenberg Traurig

Gross Klein

Hogan Lovells

Holifield & Janich

Holland & Knight

Honigman LLP

Irell & Manella

Jackson Lewis PC

Jackson Walker LLP

Jones Day

Kahn Swick

Kasowitz Benson

Keker Van Nest & Peters

Kershaw Talley

Knobbe Martens

Kozyak Tropin

Kudman Trachten

Labaton Keller

Larkins Vacura

Law Office of Chris R. Miltenberger

Law Office of Frank DiPrima

Law Offices of Daniel Weltin

Lemberg Law

Livingston Adler

Lozano Smith

Manning & Kass

Milberg Coleman

Miller Monroe & Plyler

Miller Shah LLP

Morgan Lewis

Morganroth & Morganroth

Morris Nichols

Morrison Foerster

Munger Tolles

Nelson Mullins

Nematzadeh PLLC

Nichols Kaster

Nicolaides Fink

Nossaman LLP

Orrick Herrington

Paternoster Farnell

Paul Hastings

Pearson Warshaw

Perkins Coie

Pillsbury Winthrop

Pomerantz LLP

Potter Anderson

Prickett Jones

Richards Layton

Riley Safer

Roig Lawyers

Saveri & Saveri

Schneider Wallace

Scopelitis Garvin

Seed IP

Shook Hardy

Shutts & Bowen

Sidley Austin

Silver Golub

Simpson Thacher & Bartlett LLP

Squire Patton

Sterne Kessler

Stoll Berne

Stull Stull

Sullivan & Cromwell

Summit Law Group

The Law Firm of Cesar de Castro

Tostrud Law Group

Trammell PC

Venable LLP

Waymaker LLP

Weil Gotshal

WeissLaw LLP

Welsh & Recker

Wenzel Fenton

White & Case

Wilkinson Stekloff

Willkie Farr

WilmerHale

Wilson Sonsini

Withersworldwide

Wolf Popper

Wong Fleming

Zuber Lawler

COMPANIES IN TODAY'S NEWS

Alphabet Inc.

American Civil Liberties Union

American International Group Inc.

Apple Inc.

Aux Sable Liquid Products Inc.

Baker Hughes Co.

BioLineRx Ltd.

Brookfield Property Partners LP

CNA Financial Corp.

Chevron Corp.

Cornell University

Cottrell Inc.

Delta Air Lines Inc.

Early Warning Services LLC

Elevance Health Inc.

Empire HealthChoice HMO Inc.

Ethereum GmbH

GNC Holdings Inc.

General Growth Properties Inc.

Gilead Sciences Inc.

Google LLC

International Union of Bricklayers and Allied Craftworkers

J.B. Hunt Transport Services Inc.

Janus Henderson Group PLC

LinkedIn Corp.

Mercedes-Benz USA LLC

Merck & Co. Inc.

National Collegiate Athletic Association

National Rifle Association of America

Pacific Premier Bancorp Inc.

Pet Supplies Plus LLC

Regents of the University of California

Riverview Bancorp Inc.

Rocket Cos.

Rocket Mortgage LLC

Shell PLC

SolarEdge Technologies Inc.

Space Exploration Technologies Corp.

StoneTurn Group LLP

Tesla Inc.

U.S. Silica Holdings Inc.

Unilever PLC

Venmo LLC

Wells Fargo & Co.

Whataburger Restaurants LLC

GOVERNMENT AGENCIES IN TODAY'S NEWS

California Supreme Court

City of New York

Delaware Court of Chancery

Equal Employment Opportunity Commission

Federal Bureau of Investigation

Federal Trade Commission

Food and Drug Administration

Illinois Supreme Court

U.S. Attorney's Office for the Southern District of Florida

U.S. Attorney's Office for the Southern District of New York

U.S. Bankruptcy Court for the District of Delaware

U.S. Civilian Board of Contract Appeals

U.S. Court of Appeals for the Federal Circuit

U.S. Court of Appeals for the Fifth Circuit

U.S. Court of Appeals for the Third Circuit

U.S. Department of Health and Human Services

U.S. Department of Justice

U.S. Department of the Treasury

U.S. District Court for the Central District of California

U.S. District Court for the District of Connecticut

U.S. District Court for the District of New Jersey

U.S. District Court for the District of Oregon

U.S. District Court for the Eastern District of Michigan

U.S. District Court for the Northern District of California

U.S. District Court for the Northern District of Illinois

U.S. District Court for the Southern District of Florida

U.S. District Court for the Southern District of New York

U.S. District Court for the Western District of Texas

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

World Health Organization