In the recent decision of Akorn Inc. v. Fresenius Kabi AG, et. al., C.A. No. 2018–0300–JTL (Del. Ch. Oct 1, 2018), Delaware’s Chancery Court held, for the first time, that, because a corporation violated a “material adverse effect” clause of a merger contract, the purchasing company could forgo its obligation to buy the target company.1 …
Month: April 2019
Will There Be An Antidote to High Drug Prices in the U.S?
High drug prices in the United States are a sorely contested topic between consumers, lawmakers, and officials at pharmaceutical companies. The political pressure to lower drug prices is high and drug prices remain pharma’s biggest business and reputational risk.1 On Tuesday, February 26, 2019, officials from seven of the largest drug makers in the United…
Modern Monetary Theory: A Primer
As U.S. political debates continue to intensify around government benefits and tax policy, some politicians and pundits see modern monetary theory (“MMT”) as support for a system of low tax rates and generous government benefits programs.1 To help you get through the presidential election cycle and impress your economist friends, here is a quick primer…
Carried Interest Post-TCJA: Impact on Hedge Funds, Private Equity, and Real Estate
Academics, tax practitioners, and members of both political parties in the US have criticized the so-called carried-interest loophole for many years.1 Although a recent proposal to close the loophole estimated the US Treasury would only collect an additional $17 billion in revenue over ten years,2 the loophole continues to receive criticism due to its political…