Law

Lilly sues to block generic of Adcirca lung treatment

March 17, 2010
Bloomberg News
Netherlands-based Synthon Pharmaceuticals is seeking U.S. Food and Drug Administration approval to sell a copy of the medicine.
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Judge: Bren Simon can't liquidate Simon Property holdings

March 16, 2010
Greg Andrews
A Hamilton County judge says Mel Simon’s widow can’t cash in partnership units worth more than $500 million.
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Schrenker: 'Data' show he tried to fake own death

March 15, 2010
 IBJ Staff and Associated Press
A former Fishers money manager facing fraud charges acknowledges in a newspaper interview that evidence indicates he was trying to fake his own death when he parachuted from his private plane that later crashed in a Florida swamp.
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Lawyers in Simon estate case fight over what should be public

March 10, 2010
Greg Andrews, Cory Schouten
Parties disagreed over public disclosure in the first major court hearing in the dispute over how to divide the billionaire's fortune.
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Simon daughter questions using father's estate to pay donations

March 2, 2010
Greg Andrews
Pledges to St. Vincent, Indianapolis Museum of Art should be paid by trusts, foundations affiliated with Bren Simon, court papers allege.
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Dann Pecar nabbed by Ohio law firm in merger

March 2, 2010
Scott Olson
Cleveland-based Benesch Friedlander Coplan & Aronoff LLP gains Indianapolis presence by absorbing 99-year-old local law firm with 29 lawyers.
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NCAA plans to battle counterfeiters during the men's Final Four

February 27, 2010
Scott Olson
A National Collegiate Athletic Association posse will be supplemented by local police officers in search of unlicensed T-shirts and other memorabilia.
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Intellectual property practices in law firms recovering from recessionRestricted Content

February 27, 2010
Norm Heikens
Practices are beginning to thaw along with other areas of the economy.
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Bankruptcy trustee for Fair Finance wades into morass of insider loans

February 27, 2010
Greg Andrews
Brian Bash will need to untangle a web of related-party transactions that have befuddled nearly everyone who has tried to make sense of them.
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Millionaire lawyer jumps into Melvin Simon will fight

February 20, 2010
Greg Andrews
Mike Ciresi, who’s representing widow Bren Simon, helped win a $6 billion settlement from the tobacco industry.
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Judge places Fair Finance into bankruptcy

February 19, 2010
Greg Andrews
A federal trustee will take control of the company's assets while securities-fraud probes continue.
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Pfizer's Viagra patent partially rejected in Lilly fight

February 16, 2010
Bloomberg News
The patent on impotence drug Viagra was partially rejected after the U.S. Patent and Trademark Office said it wasn't different enough from a Chinese herb known as Horny Goat Weed. The patent was key to an infringement suit Pfizer filed in 2002 against Eli Lilly and Co. over its rival Cialis drug.
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Local lawyer appointed to lead national firm Ogletree Deakins

February 13, 2010
 IBJ Staff
Kim Ebert is a veteran lawyer at the local office of the Atlanta-based firm, which has 470 lawyers in 37 locations nationwide.
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PTS sues Roche Diagnostic to end blood-monitor royalties

February 13, 2010
J.K. Wall
Polymer Technology Systems Inc., a small Indianapolis-based maker of handheld blood monitors, has gone to court to fight a competitor more than 100 times its size: Roche Diagnostics Corp.
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Judge weighing request to unseal Fair Finance records

February 11, 2010
 IBJ Staff
A federal judge is weighing whether to unseal search-warrant documents related to the federal investigation of businessman Tim Durham and Akron, Ohio-based Fair Finance Co. following a hearing Thursday in Youngstown, Ohio.
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Fair Finance going along with appointment of receiver

February 11, 2010
Greg Andrews
Attorneys for the company and its parent firm denied any fraud occurred but said receivership nonetheless made sense.
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Durham-backed firm to halt trading, dissolve

February 10, 2010
Greg Andrews
Dallas-based CLST Holdings Inc. has struggled, and its shares trade for a mere 9 cents apiece.
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Lawsuit could bring NCAA financials to light

February 10, 2010
Anthony Schoettle
Lawyers for former UCLA basketball player Ed O'Bannon are promising to expose financial information about NCAA's licensing contracts the NCAA would rather keep private.
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Fair Finance investors force company into bankruptcy

February 8, 2010
Greg Andrews
Investors in Tim Durham’s Fair Finance Co. shoved the company into bankruptcy court Monday morning, a move intended to reduce the risk assets will disappear while securities fraud probes continue.
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Law firm adds historic home to campusRestricted Content

February 6, 2010
Scott Olson
Plews Shadley Racher & Braun has finished a careful restoration of the Eden-Talbott House, continuing a strategy of shunning glass and steel.
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Brizzi contributor Epperly no stranger to controversy

February 6, 2010
Greg Andrews
Harrison Epperly has made a fortune in his business career, but he's also sparked controversy.
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Businesses walk fine line when supporting Colts

February 5, 2010
Scott Olson
As Super Bowl approaches, companies unaffiliated with the Colts avoid becoming victims of the NFL's strict trademark-enforcement policies by supporting the team in generic fashion.
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Ex-Indiana player Leary arrested in fraud case

February 5, 2010
Associated Press
The 39-year-old Leary was being held Friday in the Monroe County Jail in Bloomington on charges out of Allen County.
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Fair Finance investors file motion for receiver to control assets

February 4, 2010
Greg Andrews
The motion filed in an Ohio court is aimed at preventing funds from disappearing while investigations continue.
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Mississippi settles Zyprexa suit against Lilly for over $18M

February 4, 2010
Associated Press
Mississippi will receive $18.5 million from Indianapolis-based drugmaker Eli Lilly and Co. as part of a settlement over claims the company promoted the anti-psychotic Zyprexa for ailments it was not federally approved to treat.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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