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FTC: Hospital Merger Not Shielded From Antitrust Law By State-Action Doctrine

WASHINGTON, D.C. - The 11th Circuit U.S. Court of Appeals erred in ruling that although a merger between two Georgia hospitals would substantially lessen competition or tend to create a monopoly, the state-action doctrine immunized the conduct from a ...read more

No Coverage For Successor Company Under Applicable Illinois Law, N.Y. Panel Says

NEW YORK - No coverage is owed to the successor company of an insured for underlying suits alleging injuries caused by exposure to popcorn butter flavoring products because the trial court incorrectly applied New York law rather than Illinois law, which ...read more

Delaware Vice Chancellor Awards Attorney Fees, Costs In Securities Suit

WILMINGTON, Del. - A Delaware Chancery Court vice chancellor on Oct. 1 awarded a shareholder in a securities lawsuit regarding a merger deal between two perfume companies more than $266,000 in attorney fees and costs, ruling that the shareholder is entitled ...read more

Judge: Shareholder Pleaded Breach Of Fiduciary Duty Claim In Securities Suit

TAMPA, Fla. - A shareholder has properly shown that a company's directors breached their fiduciary duty by their actions during a merger deal, a federal judge in Florida ruled Oct. 22 in granting in part and denying in part the defendants' motion ...read more

Policeman's Speech Not Protected, South Carolina Federal Judge Rules

COLUMBIA, S.C. - A claim by a police officer that he was demoted in retaliation for voicing objections at public meetings to a proposed police force merger fails because the officer's speech was not protected by the First Amendment to the United States ...read more

Judge Refuses To Grant Preliminary Injunction Halting Planned Merger Deal

MINNEAPOLIS - A federal judge in Minnesota on Nov. 7 denied a shareholder's motion for preliminary injunction enjoining a company from completing a merger deal, ruling that the shareholder has failed to show that there is a substantial likelihood ...read more

US Airways Pilots Seek Information On Possible AMR, US Air Merger

NEW YORK - A group of pilots with US Airways Group Inc. on Nov. 16 moved in the U.S. Bankruptcy Court for the Southern District of New York for authorization to conduct discovery related to a proposed merger between US Airways and bankrupt AMR Corp., ...read more

High Court Hears Arguments On State-Action Doctrine In Hospital Merger Case

WASHINGTON, D.C. - The U.S. Supreme Court on Nov. 26 heard oral arguments regarding whether the state-action doctrine applied to immunize a merger between two Georgia hospitals from the Federal Trade Commission's challenge that the transaction substantially ...read more

2nd Circuit Upholds Sirius XM Settlement Of Class Suit Over Merger

NEW YORK - The Second Circuit U.S. Court of Appeals on Dec. 20 upheld the approval of a settlement of a class suit accusing Sirius XM Radio Inc. of various violations in connection with the 2008 merger of the only two providers of satellite radio, XM ...read more

Judge: Merger Terms Didn't Include Tort Liabilities

PHILADELPHIA - The only reasonable reading of a merger agreement between two companies shields a defendant from successor liability for a woman's household asbestos exposure claims, a Washington federal judge held Dec. 27 (Lola Bouchard, et al. v ...read more

Delaware High Court Affirms Class Rep In Suit Over Merger

DOVER, Del. - The Delaware Court of Chancery did not abuse its discretion when it certified New Orleans Employees' Retirement System (NOERS) as class representative in an action challenging the acquisition of Celera Corp. by Quest Diagnostics Inc ...read more

Michigan Federal Judge Dismisses As Untimely Antitrust Claims Related To Merger

DETROIT - Claims that a producer of oxidates monopolized the domestic market for oxidates following its purchase of a competitor's product line in violation of federal and state antitrust laws were untimely filed, a federal judge in Michigan ruled ...read more

Bankrupt American Airlines, US Airways To Merge, Form World's Largest Airline

FORT WORTH, Texas - Bankrupt AMR Corp., the parent company of American Airlines Inc., announced Feb. 14 that the boards of directors for AMR Corp. and U.S. Airways Group Inc. have approved a merger forming the world's largest airline, which will have ...read more

U.S. Supreme Court: Hospital Merger Is Not Immune From Antitrust Scrutiny

WASHINGTON, D.C. - The U.S. Supreme Court on Feb. 19 ruled that the state-action doctrine does not immunize the merger between two Georgia hospitals from the Federal Trade Commission's challenge that the transaction substantially lessened competition ...read more

Cornerstone Research Releases 2012 Merger And Acquisition Litigation Report

BOSTON - Shareholders challenged 93 percent of all merger and acquisition (M&A) transactions that were valued over $100 million and 96 percent of all transactions valued over $500 million in 2012, according to a report released by Cornerstone Research ...read more

Pilots: Dispute Interferes With American Airlines Bankruptcy, US Airways Merger

NEW YORK - A group of pilots for US Airways Group Inc. on March 6 filed an adversary complaint in the Chapter 11 bankruptcy proceeding of AMR Corp., contending that another group of pilots should not be permitted to file a lawsuit in bankruptcy court ...read more

2nd Circuit Won't Reconsider Sirius XM Settlement Of Class Suit Over Merger

NEW YORK - The Second Circuit U.S. Court of Appeals on March 5 denied objectors' petitions for panel rehearing and rehearing en banc of the court's Dec. 20 order upholding the approval of a settlement of a class suit accusing Sirius XM Radio Inc ...read more

Judge Remands Reinsurance Dispute Because Of Service-Of-Suit Clauses

NEW YORK - A federal judge in New York on March 11 granted an insurer's motion to remand an asbestos-related reinsurance dispute to state court, holding that the service-of-suit clauses in three of six reinsurance agreements at issue amount to a waiver ...read more

2 Creditor Groups Support AMR, US Airways Merger

NEW YORK - Two committees in the Chapter 11 bankruptcy of AMR Corp., the parent company of American Airlines Inc., on March 22 filed statements in the U.S. Bankruptcy Court for the Southern District of New York approving the merger of American Airlines ...read more

U.S. Trustee Opposes AMR, US Airways Merger; CEO's Bonus Violates Bankruptcy Law

NEW YORK - The U.S. trustee in the Chapter 11 bankruptcy of AMR Corp., the parent company of American Airlines Inc., on March 25 filed a sur-reply brief in the U.S. Bankruptcy Court for the Southern District of New York objecting to the proposed $11 billion ...read more

Judge Won't Strike Expert Testimony In Sprint Nextel Merger Suit

KANSAS CITY, Kan. - Although an attempt by lead plaintiffs in a securities class action lawsuit to file expert testimony in a reply brief "constitutes new evidence," striking the testimony "would improperly inhibit a determination of market ...read more

FTC Entitled To TRO In Merger Case, Georgia Federal Judge Rules

ALBANY, Ga. - A federal judge in Georgia on May 15 granted the Federal Trade Commission's motion to temporarily enjoin Phoebe Putney Health System Inc. from taking any further steps to consolidate Georgia hospitals and from making any price changes ...read more

AMF Bowling Seeks Approval Of $310M Loan With Credit Suisse, Merger With Bowlmor

RICHMOND, Va. - Bankrupt AMF Bowling Worldwide Inc. on May 18 moved in the U.S. Bankruptcy Court for the Eastern District of Virginia for authorization to enter a credit agreement with Credit Suisse Securities LLC with a total value of $310 million that ...read more

AMR Reorganization Plan Would Issue Stock In New Company To Satisfy Some Claims

NEW YORK - Bankrupt AMR Corp., the parent company of American Airlines Inc., on June 5 filed a declaration supporting its amended Chapter 11 reorganization plan that calls for the full satisfaction of general unsecured guaranteed claims by issuing new ...read more

FTC, Hospitals Agree To Preliminary Injunction Halting Merger

ALBANY, Ga. - A federal judge in Georgia on June 5 approved the terms of a preliminary injunction agreed to by the Federal Trade Commission and Putney Health System Inc., enjoining the further integration of Georgia hospitals (Federal Trade Commission ...read more