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6.05.26
Wilson Sonsini Advises SewerAI on Strategic Investment
On June 2, 2026, SewerAI, a leading AI platform for sewer and underground infrastructure intelligence, announced a major strategic investment led by JMI Equity, a leading growth equity software investor based in the greater Washington, D.C., area and San Diego, with continued participation from Innovius Capital, Epic Ventures, and Bentley Systems. Wilson Sonsini Goodrich & Rosati advised SewerAI on the transaction.
Client Highlights
3.27.26
Wilson Sonsini Advises Excellergy on $2 Billion Acquisition by Novartis
On March 27, 2026, Excellergy, a biotechnology company developing a novel class of allergy therapeutics, announced it will be acquired by Novartis in a transaction with a total potential value of up to $2 billion in upfront and milestone payments. The acquisition brings together Excellergy's novel trifunctional ECRIs with the development expertise of Novartis. Wilson Sonsini Goodrich & Rosati advised Excellergy on the transaction.
Alerts
2.18.26
Federal Court Vacates FTC’s 2024 HSR Form Rule; Order Stayed Seven Days Pending Appeal
On February 12, 2026, Judge Jeremy D. Kernodle of the U.S. District Court for the Eastern District of Texas granted summary judgment to plaintiffs U.S. Chamber of Commerce and other business groups, and vacated the 2024 Federal Trade Commission (FTC) rulemaking that significantly revised the Hart-Scott-Rodino (HSR) reporting requirements. The court concluded that the FTC exceeded its statutory rulemaking authority when it implemented the HSR reporting change, and such a change was arbitrary and capricious under the Administrative Procedure Act (APA). The court stayed its order for seven days to allow the FTC to seek an emergency appeal to the U.S. Court of Appeals for the Fifth Circuit. If the Fifth Circuit does not grant emergency relief before February 19, 2026, the current HSR rules will be vacated, and HSR reportable transactions will be filed under the HSR rules that were in effect prior to February 10, 2025, when the new HSR reporting rules went into effect.
Alerts
2.10.26
“Landmark” Settlement in PBM Case Poised to Broadly Reshape Prescription Drug Market
On February 4, 2026, the Federal Trade Commission (FTC) announced a settlement and consent order in a long-running administrative action against pharmacy benefit managers (PBMs) Express Scripts, OptumRx, and Caremark Rx. The FTC alleged that these three PBMs, which have a collective U.S. market share of approximately 80 percent, deployed anticompetitive and unfair rebating practices that artificially inflated the list price of insulin drugs by systematically preferring higher-priced drugs at the exclusion of lower cost products. The settlement resolves the claims as to Express Scripts and its family of companies.