Legal, Economic & Regulatory Affairs News by GLG Council Members

The Supreme Court blew it when they reduced the punitive damages in the Exxon case.  The purpose of punitive damages is to create a deterrent for future actions.  By holding that punitive damages cannot exceed compensatory damages, the Supreme Court created a standard for companies to operate.  Now, the bean counters who estimate the potential cost of not doing something have a clear...

Paint companies are off the hook- but should others beware?

Large legal fees do not equate to a walk Uber wealthy backlash by the courts? level playing field for justice?

When many educational institutions are struggling to acquire students due to tight funding for student loans, Apollo Group, Inc., the parent company of University of Phoenix is thriving based on its managers foresight in developing culture of performance and a branding strategy that runs through all levels of their operation. 

In 2003-2008, the Kremlin, under Vladimir Putin's leadership, has consolidated control over domestic and foreign hydrocarbon assets. The strategic goal is to make Russia's state-owned "national leaders", such as Gazprom, into global supermajors.  The crackdown started with YUKOS (2003-2004) and continued with Shell (Sakhalin Island); Exxon; Chevron (Caspian Pipeline Consortium); TNK-BP (Kovykta...

Foreign investment in Russia will probably continue to decline.  Russia has adopted a stringent new law on foreign investment reserving the really important sectors to the state and there is no sign that the state will  either move to a true rule of law, despite Medvedev's statements on the subject, or that key state actors will voluntarily relinquish their ownership of key firms and sectors. ...

Will this ruling be a guide or an edict in calculating punitive damages in other cases?When an award is over a 100 million is a one to ratio for compensatory & punitive appropriate? 

The report explains that creating a pathway to allow for follow-on biologics will save billions of dollars over the next 10 years. The report will be used to press for quick passage of the House and Senate versions of the legislation.

There any many imponderables in the CBO estimates, including the period of marketing exclusivity (if any) granted by not-yet-passed legislation and the extent to which the FDA requires new clinical trials for follow-on biologics.  I would argue, therefore, that their predictions are premature.

Dealing with the Iranian regime is extremely important since nothing substantive can be accomplished in the Middle East without dealing with Iran.