Skadden-Myovant Appeals Court Skeptical of ‘Family’ Conflict

The Second Circuit appeared skeptical that there was a conflict of interest in need of disclosure when Skadden, Arps, Slate, Meagher & Flom LLP advised Myovant Sciences Ltd. on its buyout of with Sumitovant Biopharma Ltd. given the plaintiff’s attorney’s description of Japanese corporations’ “family-like” structure.

Judges have to consider corporate structure and relationships under US law, one judge said in oral arguments on Tuesday. The panel included US Court of Appeals for the Second Circuit Judges John M. Walker, Jr., Joseph F. Bianco, and Beth Robinson, according to the calendar.

Attorney Joshua Fruchter, who represented investor and plaintiff-appellant ...