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Business

CVS says it plans to get into primary care by year end

A CVS Pharmacy store is seen in the Manhattan borough of New York City, New York. Shannon Stapleton | Reuters CVS said Wednesday that it plans to acquire or take a stake in a primary-care company by the end of the year, as competition heats up with Amazon and Walgreens. CEO Karen Lynch said on […]

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Gaming

Lawyer Sanctioned for Failing to Play Call of Duty

Since at least 1984’s The Last Starfighter, videogame players have dreamed that the time they spent playing games would be rewarded. Recently, a federal judge supplied the inverse, sanctioning a lawyer for failing to play enough Call of Duty. On November 30, 2021, Brooks Entertainment, Inc. sued Activision Blizzard Inc. in the United States District […]

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US

Antitrust Hits the Metaverse: FTC Sues to Block Meta Platforms, Inc. from Acquiring a VR Fitness App

Wilson Sonsini provides extensive and cutting-edge legal services for innovators, technology pioneers, and disruptors. As part of our focus on emerging technologies, our attorneys are publishing a series on applying and adapting existing law in the Metaverse throughout 2022. This is the fifth item in our Metaverse series. Past alerts and advisories include Antitrust: Into the […]

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Business

PepsiCo takes $550 million stake in energy drink maker Celsius

Celsius Energy Drinks Courtesy: Celsius Holdings PepsiCo announced Monday a $550 million investment in energy drink maker Celsius Holdings as part of a long-term distribution deal with the smaller company. Shares of Celsius rose 8% in morning trading on the news, bringing its market value to $6.7 billion. Celsius is expecting to gain more shelf […]

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Business

3M will spin off its health-care business into a new public company

3M announced Tuesday it will spin off its health-care business into a separate publicly traded company. The new business will focus on wound and oral care, health-care IT and biopharma filtration, the material science company said in a release. That includes products like its bandages, skin adhesives, oral aligners, air purifiers and optical lenses. The […]

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US

Headed to the Metaverse? Be “The One” to Minimize Money Laundering Risk

Wilson Sonsini provides extensive and cutting-edge legal services for innovators, technology pioneers, and disruptors. As part of our focus on emerging technologies, our attorneys are publishing a series on applying and adapting existing law in the Metaverse throughout 2022. This is the second item in our Metaverse series. Past alerts include Antitrust: Into the Metaverse. The […]

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World

Compliance Reminder: SEC Disclosure Considerations Arising from Russia’s Invasion of Ukraine

Many public companies are beginning preparations for filing quarterly reports on Form 10-Q for the second quarter of calendar 2022. As they do so, they should review and consider the U.S. Securities and Exchange Commission (SEC) guidance for public companies regarding disclosures pertaining to Russia’s invasion of Ukraine. The guidance includes a list of disclosure considerations, as […]

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Business

Panera Bread terminates SPAC deal with Danny Meyer’s investment group

Florida, Spring Hill, Nature Coast Commons, shopping mall, Panera Bread bakery. Jeff Greenberg | Universal Images Group | Getty Images Danny Meyer’s SPAC and Panera Bread have called off a deal to take the sandwich chain public again, citing market conditions. In November, the parent company of the sandwich chain, Caribou Coffee and Einstein Bros. […]

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Business

Bed Bath & Beyond says it’s still open to selling its Buybuy Baby division

A view of the atmosphere during the Whitney Port & Bundle Organics #MomAsYouAre buybuyBABY product launch in Torrance, California. Randy Shropshire | Getty Images As Bed Bath & Beyond shakes up its leadership suite and ousts its CEO, the retailer said Wednesday it remains open to another big change: A potential sale of its baby […]

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Business

Zendesk to be acquired by investor group for $10.2 billion

Zendesk co-founder and CEO Mikkel Svane Eric Piermont | AFP | Getty Images Customer experience software company Zendesk agreed to be acquired by an investor group in an all-cash transaction valuing it at around $10.2 billion, the company announced Friday. The deal, led by investment firms Permira and Hellman & Friedman, will give shareholders $77.50 […]