🧩 Qualcomm's $2 verdict could unlock billions
PLUS: Bumble's shareholders have already swiped right
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Welcome to Lookzy. In today's Lookzy:
Qualcomm's $2 verdict leaves billions in play
CVS settles claims it blocked pharmacists' warnings
DOJ alleges a hidden recorder at OpenAI
Bumble signs with shareholder approval already secured
THE VERDICT
Arguing today's litigation news
$2 for Qualcomm. A Delaware jury awarded Qualcomm $1 for Arm's failure to supply required software patches and tools, and $1 for interference with its Meta business. Arm won on five other breach allegations. Judge Maryellen Noreika must now decide whether the breach lets Qualcomm suspend royalty payments for five years, potentially worth billions. Arm argues that contract provision is unenforceable.
Warnings blocked. DOJ says CVS policies prevented pharmacists from warning one another about problematic prescribers. The company agreed to a $315 million civil settlement of allegations that it illegally dispensed controlled substances and submitted false federal reimbursement claims. CVS disputes the allegations and admitted no liability. An accompanying DEA agreement requires a hotline for employees and the public to report suspected illegal dispensing.
Uber's RICO standing. Philadelphia federal Judge Mark Kearney ruled that Uber has standing to pursue civil racketeering claims against lawyer Marc Simon and Simon & Simon even though Farmers paid its defense bills. The judge treated the insurer as a conduit for Uber's payments. Uber alleges lawyers and doctors colluded on fraudulent personal-injury claims; Simon and his firm deny wrongdoing.
Conference room bug. A recorder hidden in toilet paper and plugged into a television's USB port was found in an OpenAI executive conference room, according to a federal complaint. Prosecutors charged engineer Abdulrahman Alfozan with using or trying to use a device to intercept oral communications. OpenAI says it fired him and has no indication of improper access to or exfiltration of model weights, source code or customer data.
THE DEAL
Wheelin' and dealin' today's corporate news
Bumble's votes are in. Bumble agreed to go private in a sale to Ithaca Holdings at $6.05 per Class A share in cash, a 138% premium to its unaffected October 9 closing price. Regulatory and other closing conditions remain. Blackstone affiliates and founder Whitney Wolfe Herd have already provided the required shareholder approval by written consent. Wolfe Herd recused herself from the board's deliberations and vote.
Kotex is the condition. Competition concerns in three countries mean a much wider disposal for Kimberly-Clark. The European Commission cleared its Kenvue acquisition on condition that it sell all its tampon and other feminine hygiene brands in the European Economic Area, including Kotex. The concerns involved tampon markets in the Czech Republic, Estonia and Slovakia. The commission also approved Turkey's Dilek Gida Uretim as the buyer of the regional business.
Octus sale talks. LSEG, the London Stock Exchange's owner, confirmed it is in talks with Permira to buy Octus for approximately $3.5 billion. No agreement has been reached, and an acquisition would need regulatory approval. Octus supplies credit data and workflows to law firms, banks, investors and advisers, with particular strength in private and illiquid credit.
Alright, back to billing. That's all, folks!
