Lawsuit

Valentino SpA was sued for $207.1 million by the landlord of its former American flagship on Manhattan’s Fifth Avenue, which said the Italian fashion company had no right to break its lease and leave the store in disrepair.

Shares of Moderna Inc fell nearly 10% after it lost a bid to invalidate a U.S. patent owned by Arbutus Biopharma that poses a potential obstacle to Moderna’s efforts to develop next-generation vaccines, including a coronavirus vaccine.

Mall owner says Simon Property has buyer’s remorse, knew there was a pandemic raging when it made takeover agreement in February.

Simon Property Group, the country’s largest mall owner, filed a lawsuit against Gap Inc. on Tuesday over unpaid rents and other charges it says amount to $66 million.