Lisa Bernstein Co-Authors Analysis Article for Law360 on SDNY Ruling on Joint Steering Committee Obligations
SDNY Ruling Reinforces Joint Steering Committee Obligations
On July 8 in ChemImage Corp. v. Johnson & Johnson, the U.S. District Court for the Southern District of New York handed down a decision with important implications for contractual relationships that are currently governed by joint steering committees, and for structuring and incorporating joint steering committee provisions into strategic contracts in the future, writes Lisa Bernstein and co-authors Reginald Goeke and Brad Peterson in a Law360 "Expert Analysis" piece.
"The decision, holding that Johnson & Johnson subsidiary Ethicon owes ChemImage $90.6 million after ending a strategic partnership, made clear that a contractual joint decision-making process must actually be followed, like any other type of contractual obligation, even if following the process, under the terms of the agreement, will lead to the same outcome as not following the process," they say in the article.
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