Google, Apple, Intel and Adobe to resume mediation in hiring lawsuit

Posted on Saturday, September 6th, 2014 at 1:29 pm    

Silicon Valley giants Google, Apple, Intel, and Adobe have resumed talks with workers in a class action lawsuit over the companies’ hiring practices, Reuters reported on Wednesday, September 3.

Plaintiffs accuse the companies of agreeing to refrain from hiring each other’s valued engineers. Tech workers stated that the alleged agreement has decreased their ability to seek other employment opportunities, thereby limiting their growth and potential to earn.

Last month, a federal judge in California rejected the companies’ move to settle the allegation for $324.5 million, saying that the complainants should be given greater compensation.

A court date to hear the matter is set for September 10.

Business litigation may tremendously affect your livelihood. Therefore, it is important to seek attorneys who are well-versed in the intricacies of business and corporate law. If you need one in Cedar Rapids, contact an attorney at Arenson & Maas, PLLC by calling (319) 363-8199 today.


Wells Fargo enters into a multi-million dollar securities lending settlement

Posted on Thursday, September 4th, 2014 at 3:13 pm    

On Monday, August 18, Wells Fargo has agreed to enter into a settlement of $62.5 million with large institutional clients who lost money due to the bank allegedly misleading investors by claiming their program was safe, a report by the Star Tribune Business stated.

The approved settlement was a result of a class action lawsuit with 92 members, including a carpenter’s union in Arizona and an employee retirement fund for a city in Michigan. The plaintiffs stated they were lead to believe that they were participating in a low-risk venture, when, in reality, the bank was using their funds for much riskier investments.

The settlement was the third among the five lawsuits Wells Fargo has been involved in. The first was resolved in 2012 by a settlement of $57 million. Last year, however, Wells Fargo was favored in a similar lawsuit that went to trial in San Francisco.

Arenson & Maas, PLC, has been in the practice of helping Cedar Rapids businessmen in reaching favorable arrangements during the complicated process of business litigation. To know more about what we can do for your business, call our offices at (319) 363-8199 today.


Roche to acquire Santaris Pharma for $450 million

Posted on Monday, August 18th, 2014 at 2:59 pm    

Swiss pharmaceutical giant Roche says it plans to buy Denmark-based biotech company Santaris Pharma for up to $450 million, Reuters reported on August 4.

According to the report, Roche announced it would pay Santaris Pharma an initial amount of $200 million, and an additional $250 million upon reaching certain milestones. Roche hopes to acquire Santaris Pharma’s new class of drugs that can silence mRNA’s, which the company believes is a breakthrough in treating difficult to cure diseases.

Santaris Pharma is one of the many pharmaceutical company recently acquired by Roche. Last month, U.S.-based Seragon Pharmaceuticals Inc. was bought by Roche for $1.725 billion.

Acquisitions like this help you establish a stronger market foothold for your business. Let a qualified and seasoned Cedar Rapids business lawyer at Arenson & Maas, PLC, represent your interests during acquisitions. To learn more about how we can be of help, call our offices at (319) 363-8199 today.