U.S. District Judge Edward Davila has denied Theranos founder Elizabeth Holmes’ request to remain free on bail while she appeals her conviction on charges of defrauding investors in the failed blood-testing startup that was once valued at $9 billion. Davila sentenced Holmes to 11 years and three months in prison in November last year. Holmes, who is scheduled to begin serving her sentence in April, may ask the 9th Circuit to grant bail. Read more.
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You have to give points for creativity to an Ohio pension fund that lost big when Freddie Mac’s share price nosedived at the beginning of the subprime mortgage crisis in 2007. Faced with a decision denying class certification in the fund’s long-running securities fraud case against the government-sponsored housing finance giant (formally known as Federal Home Loan Mortgage Corp), plaintiffs lawyers for the Ohio Public Employees Retirement System came up with a novel strategy to speed up their class certification appeal even after the 6th Circuit refused interlocutory review. The strategy worked at first: The fund managed to persuade the trial judge overseeing the case and a 6th Circuit motions panel to allow them to move ahead with the appeal, despite the daunting obstacle of 2017 precedent from the U.S. Supreme Court in seemingly similar circumstances. But the fund’s luck ran out last week. Alison Frankel has the story of the “inventive ploy” that failed — at least for now.
Check out other recent pieces from all our columnists: Alison Frankel, Jenna Greene and Hassan Kanu
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A group of video gamers filed a new legal challenge to Microsoft’s $69 billion bid to buy “Call of Duty” maker Activision Blizzard, after a U.S. judge last month rejected an earlier version of the antitrust lawsuit. Read what the renewed legal challenge entails.
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