Author Archives: Paul Barrett

Signage is displayed outside of the Disney-ABC Television Group in Burbank, California, U.S., on Monday, May 9, 2016. The Walt Disney Co. is scheduled to release earnings figures on May 10. Photographer: Patrick T. Fallon/Bloomberg

Why ABC News Settled a Multibillion-Dollar Suit Over ‘Pink Slime’

Why ABC News Settled a Multibillion-Dollar Suit Over ‘Pink Slime’

Faced with a potential $5.7 billion verdict, ABC News last week settled a lawsuit brought by a South Dakota meat company objecting to negative coverage of a beef product critics have called pink slime. The pact — the terms of which were kept confidential — came in the middle of what had been scheduled to

Photographer: Andrew Harrer/Bloomberg

Three Little-Noticed Wins for Corporations at the Supreme Court

The Supreme Court wrapped up its 2016–17 term this week, with decisions on two high-profile cases on religion and gay rights, and the announcement that this fall it will hear arguments regarding President Donald Trump’s 90-day ban on immigration from six mostly Muslim countries, which it partially revived in the meantime. For corporations threatened by

Photo by Chris Ratcliffe/Bloomberg

The Business of Litigation Finance Is Booming

By Paul Barrett, Bloomberg Businessweek The buying and selling of lawsuits — a decade-old practice in the U.S. known as litigation finance — continues to expand. Consider Pierce Sergenian, a six-lawyer trial boutique started this year by John Pierce and David Sergenian, refugees from the litigation powerhouse Quinn Emanuel Urquhart & Sullivan. The new firm

The lawyer of Ecuadorean people affected by Texaco-Chevron --who have long sought compensation for pollution between the 1970s and early 1990s-- Steven Donziger, gestures during a press conference on March 19, 2014 in Quito. Earlier this month, a US judge upheld Chevron's allegations that an Ecuadoran court decision ordering it to pay $9.5 billion for oil pollution in the Amazon jungle was fraudulently obtained. Donziger announced they will appeal against this decision. AFP PHOTO / RODRIGO BUENDIA  / Getty Images

Supreme Court May Weigh Big Weapon for U.S. Companies Sued Abroad

By Paul Barrett, Bloomberg Businessweek Can U.S. companies use the federal racketeering law to fend off costly foreign court judgments? For Chevron Corp., the answer was yes — and that saved the oil and gas giant $9.5 billion. Now the Supreme Court will decide whether to hear an appeal by Chevron antagonists, who argue that

Kyle Bass, chief investment officer of Hayman Capital Management LP, speaks during a Bloomberg Television interview in New York, U.S., on Wednesday, Jan. 25, 2017. Photographer: Kholood Eid/Bloomberg

How Patent Trolls Sparked a Failed Assault on High Drug Prices

By Paul Barrett, Bloomberg Businessweek  Hedge fund manager Kyle Bass appears to be wrapping up a generally unsuccessful patent-law assault on drug manufacturers. “In the end, lobbying and special interests pay,” Bass told Bloomberg in a defeatist-sounding email. “Medicare and U.S. consumers pay the ultimate price for the evergreening of bad patents by the pharma

Photographer: Olivier Douliery/Pool via Bloomberg

Donald Trump’s Favorite Law Firm

By Paul Barrett, Bloomberg Businessweek When prominent lawyers take top jobs at the White House or the U.S. Department of Justice, they often bring along several attorneys from their firms. With the Trump administration, one firm—Jones Day — is taking that to an extreme. “I don’t know of a precedent,” says Theodore Olson, a solicitor

Donald McGahn, White House counsel. Photo by Albin Lohr-Jones/ Pool via Bloomberg

Trump Needs a Strong Lawyer

In less than a month, the Trump White House already has spawned a litany of ethics and legal controversies: potential conflicts of interest created by the president retaining ownership of his businesses, court challenges to his executive order on immigration, and the ouster of National Security Adviser Michael Flynn, to name just a few. All

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