Haynes Boone secured a unanimous appellate victory for RedHill Biopharma Ltd., affirming a $6.5 million summary judgment in full plus interest and costs in RedHill’s favor.
Associate Rebecca Schwarz argued the case in front of the Supreme Court of the State of New York, Appellate Division, First Judicial Department, with assistance from Litigation Department Chair Leslie Thorne and Associate Joe Pinto.
The case arose out of disputes related to a subscription agreement and exclusive licensing agreement involving RedHill’s investigational drug, Opaganib. The court found that the defendant, Kukbo Co. Ltd., had breached both agreements by failing to make required payments totaling $6.5 million. The court also rejected the defendant’s counterclaims alleging breach of contract, fraudulent inducement, fraudulent misrepresentation and frustration of purpose.
The appellate court affirmed that RedHill met its obligations under the agreements, provided contracted-for intellectual property and disclosed foreseeable risks, while the defendant failed to make contractually required payments.
“We are pleased to have delivered this important result for RedHill, which confirms the enforceability of its agreements and underscores the importance of honoring contractual commitments,” said Thorne. “This outcome ensures RedHill can continue advancing its business objectives without the distraction of unfounded claims.”
Haynes Boone’s Litigation Department handles disputes of all sizes with a focus on achieving results that align with clients’ business objectives. The team represents industry leaders, startups and a full range of other businesses in contract disputes, class actions and regulatory matters. The firm’s skilled trial and appellate teams have secured numerous jury verdicts, bench verdicts and summary judgments ensuring efficient, client-centered strategies that drive successful outcomes.
