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Compliance
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July 19, 2024
SolarWinds' Ruling 'No Comfort' For Cybersecurity Leaders
Although a federal district court has struck down significant portions of the U.S. Securities and Exchange Commission's data breach case against software developer SolarWinds Corp., attorneys say what remains of the lawsuit gives "no comfort" to chief information security officers hoping to avoid similar suits over statements about their company's cybersecurity practices.
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July 19, 2024
Capital One Critics Lobby To Block 'No Good' Discover Deal
Critics of Capital One's planned $35 billion purchase of Discover Financial Services urged federal regulators on Friday to withhold approval for the tie-up, rejecting a landmark community benefits pledge for the merger as a fig leaf for what they said is really a "terrible, horrible, no good, very bad" megadeal.
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July 19, 2024
Conn. Hospital Didn't Heed Insulin Pen Warnings, Maker Says
A Connecticut hospital "ignored" clear warnings from the manufacturer of insulin pens and federal regulators to avoid using the devices on multiple patients, leading to a $1 million class settlement, Novo Nordisk Inc. told a federal judge in urging the dismissal of a lawsuit against the pharma giant.
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July 19, 2024
FTC Wants To Block Kroger & Albertsons' 'Principal Defense'
Federal Trade Commission staffers want to block Kroger and Albertsons from using their main defense to an in-house merger challenge — the plan to sell off 579 stores — or otherwise force the companies to produce documents so far protected as privileged, according to a recently public filing.
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July 19, 2024
Bank Regulators Ask 5th Circ. To Unfreeze New Lending Rules
Federal banking regulators have urged the Fifth Circuit to rescind a Texas district court's injunction blocking implementation of new community lending rules, arguing in a filing that the district court's finding essentially rewrote the Community Reinvestment Act.
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July 19, 2024
DC Circ. Upholds EPA's Revised Biogas Accounting Rules
The D.C. Circuit on Friday backed the U.S. Environmental Protection Agency's revamp of how it accounts for renewable transportation fuel derived from biogas, rejecting a petition from an industry group that challenged the regulations as unduly burdensome and an agency overreach.
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July 19, 2024
DC Circ. Sides With FERC In Wind Farm Hookup Cost Fight
A D.C. Circuit panel on Friday backed the Federal Energy Regulatory Commission in disputes related to the transmission system upgrade costs that Tenaska Clear Creek Wind LLC faced to connect a 242-megawatt wind farm in northwest Missouri to the grid.
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July 19, 2024
Judge Won't Consider CFTC Sanctions Spat In Gemini Case
The New York federal judge overseeing the U.S. Commodity Futures Trading Commission's claims that Gemini Trust Co. misled the regulator on a proposed bitcoin futures contract said Friday that he will not consider whether the regulator is taking contradictory positions as it defends its own alleged misstatements in another enforcement suit.
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July 19, 2024
House AI Report Is 'Blueprint' For Coming Committee Action
The House Financial Services Committee is poised to take on a "leading role" in regulating the use of artificial intelligence in financial services, according to a new congressional report highlighting the importance of antidiscrimination and data privacy guardrails.
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July 19, 2024
3 Atty Takeaways On How AI Affects Employee Benefits
Artificial intelligence technology has the potential to improve employee benefits administration and could even help employers and retirement savers avoid underperforming 401(k) investments, attorneys say. Here are three takeaways on how AI is affecting employee benefits administration and litigation.
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July 19, 2024
What The End Of Chevron Means For FTC Rulemaking
Federal agencies can no longer expect courts to defer to their interpretation of challenged regulatory authorities under a landmark U.S. Supreme Court ruling the Federal Trade Commission expects will have no "significant impact," but that observers say could help trip up a noncompetes ban and perhaps other efforts.
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July 19, 2024
FTC Eyes Mid-Nov. Texas Hearing Against Mattress Merger
The Federal Trade Commission's case against Tempur Sealy's $4 billion planned Mattress Firm purchase is set to kick off in Texas federal court Nov. 14, the parties told an agency in-house judge Friday during a scheduling hearing.
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July 19, 2024
Co. Says La. Utility Ditched Millions In Restitution Claims
A Louisiana utility company wrongfully refused to accept $42.3 million in restitution for deficiencies found by a consulting company in meter technology that collects energy usage data, the consulting company alleged in Louisiana federal court.
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July 19, 2024
DC Circ. Won't Block EPA Power Plant Emissions Rule
The D.C. Circuit refused Friday to block the U.S. Environmental Protection Agency's rule curbing greenhouse gas emissions from power plants, saying challengers haven't shown they're likely to succeed in overturning the regulations.
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July 19, 2024
San Francisco Lawmaker Floats Rent Algorithm Software Ban
A San Francisco lawmaker proposed a ban that would prohibit selling or using software that can be used for rent price fixing, and took aim at property management software companies such as RealPage and Yardi for their software allegedly being used for such a purpose.
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July 19, 2024
DuPont Loses 2nd Bid To Dodge EPA Air Pollution Lawsuit
A Louisiana federal judge has rejected a DuPont unit's second effort to escape a lawsuit brought by the U.S. Environmental Protection Agency over property the company leased to a neoprene-maker that's allegedly emitting unsafe amounts of a likely carcinogenic chemical.
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July 19, 2024
NLRB Drops Challenge To Joint Employer Rule Vacatur
The National Labor Relations Board dropped its appeal of a Texas federal judge's decision vacating its rule expanding its definition of joint employer under federal labor law, saying it wants to consider its approach to the policy in light of the court's decision.
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July 19, 2024
Off The Bench: Trial Time For Jerry Jones, Sunday Ticket Row
In this week's Off The Bench, Jerry Jones' legal battle with the woman claiming to be his daughter reaches a courtroom, Sunday Ticket subscribers clap back at the NFL, and soccer fans go after the stadium they could not enter for the Copa America final.
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July 19, 2024
Greenberg Traurig Adds Former SEC Regional Director In SF
A former regional director for the U.S. Securities and Exchange Commission's Salt Lake City office has left the public sector to join Greenberg Traurig LLP in San Francisco.
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July 19, 2024
OK Foods, Consumers Reach Deal In Chicken Price-Fixing Suit
Consumers accusing the nation's largest broiler chicken producers of coordinating and limiting chicken production to raise prices have told an Illinois federal judge that they've reached a settlement in principle with O.K. Foods, O.K. Farms and O.K. Industries.
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July 19, 2024
Fed Fines Green Dot $44M Over Lax Compliance Program
The Federal Reserve Board on Friday fined prepaid debit card issuer Green Dot $44 million, accusing it of violating consumer protection law through several unfair and deceptive practices and maintaining a "deficient" consumer compliance risk management program.
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July 19, 2024
NC AG Looks To Stave Off Deposition In Hospital Contract Suit
North Carolina Attorney General Josh Stein doesn't want to be deposed in his suit accusing a for-profit health network of breaking its promise to maintain the standard of care at an Asheville hospital, saying he has no unique knowledge of the situation and should be shielded from testifying as a high-ranking government official.
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July 19, 2024
Regeneron Rips DOJ's FCA Suit As 'Divorced From Reality'
Regeneron Pharmaceuticals Inc. has told a Massachusetts federal judge that a False Claims Act suit brought by the U.S. Department of Justice claiming the company withheld information about a drug's average sales price was "divorced from reality" and the practice the government was complaining about was commonplace.
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July 19, 2024
FCC Looking Into 911 Disruptions From Global IT Outage
The Federal Communications Commission said Friday it was helping investigate 911 service disruptions that resulted from a global information technology outage that affected numerous industries, including telecommunications.
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July 18, 2024
DaVita To Pay $34M In Medicare Kickback Whistleblower Suit
Dialysis company DaVita will pay more than $34 million to settle a Medicare fraud case over alleged kickbacks doctors received in exchange for patient referrals, after a whistleblower from the company's C-suite came forward, the U.S. Attorney's Office for the District of Colorado announced Thursday.
Expert Analysis
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Unpacking The Latest Tranche Of Sanctions Targeting Russia
Hundreds of new U.S. sanctions and export-control measures targeting trade with Russia, issued last week in connection with the G7 summit, illustrate the fluidity of trade-focused restrictions and the need to constantly refresh compliance analyses, say attorneys at Ropes & Gray.
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
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High Court's Abortion Pill Ruling Shuts Out Future Challenges
The U.S. Supreme Court's unanimous ruling in U.S. Food and Drug Administration v. Alliance for Hippocratic Medicine maintains the status quo for mifepristone access and rejects the plaintiffs' standing theories so thoroughly that future challenges from states or other plaintiffs are unlikely to be viable, say Jaime Santos and Annaka Nava at Goodwin.
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Navigating New Safe Harbor For Domestic Content Tax Credits
The U.S. Department of the Treasury’s recent notice simplifying domestic content calculations for certain solar, onshore wind and battery storage projects, which directly acknowledges the difficulty for taxpayers in gathering data to support a domestic content analysis, should make it easier to qualify additional domestic content bonus tax credits, say attorneys at A&O Shearman.
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Firms Must Rethink How They Train New Lawyers In AI Age
As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.
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PBM Takeaways From Proposed Telehealth Flexibility Bill
The U.S. House of Representatives' proposal to extend certain telehealth flexibilities signals a robust commitment to expanding telehealth access, though its plan to offset additional expenses through pharmacy benefit manager reform could lead to some industry consolidation, say attorneys at Mintz.
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What 4 Cyber Protection Actions Mean For Marine Transport
Several recent steps by the Biden administration are necessary to address the cyber threats that increasingly disrupt the maritime sector, but also impose new legal risks, liabilities and operating costs on the owners and operators of U.S.-flagged vessels and facilities, say attorneys at Holland & Knight.
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Next Steps After 5th Circ. Nixes Private Fund Adviser Rules
The Fifth Circuit's recent toss of key U.S. Securities and Exchange Commission rules regarding private fund advisers represents a setback for the regulator, but open questions, including the possibility of an SEC petition to the U.S. Supreme Court, mean it's still too early to consider the matter closed, say attorneys at Debevoise.
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Cyber Takeaways For Cos. From Verizon Data Breach Report
Camilo Artiga-Purcell at Kiteworks analyzes the key findings of the 2024 Verizon Data Breach Investigations Report from a legal perspective, examining the implications for organizations' cybersecurity strategies and compliance efforts.
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'Energy Communities' Update May Clarify Tax Credit Eligibility
A recent IRS notice that includes updated lists of locations where clean energy projects can qualify for additional tax credits — based 2023 unemployment data and placed-in-service dates — should help provide clarity regarding project eligibility that sponsors and developers need, say attorneys at Troutman Pepper.
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Think Like A Lawyer: Always Be Closing
When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.
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How A Bumblebee Got Under Calif. Wildlife Regulator's Bonnet
A California bumblebee's listing as an endangered species could lead to a regulatory quagmire as California Department of Fish and Wildlife permits now routinely include survey requirements for the bee, but the regulator has yet to determine what the species needs for conservation, says David Smith at Manatt.
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Expected Developments From Upcoming Basel Capital Rules
With U.S. federal banking regulators preparing to finalize the Basel IV regulatory framework as early as this fall, banks and private investment funds are expected to look to uncommitted facilities as one method to address key changes, including tighter capital requirements, say attorneys at Mayer Brown.
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Takeaways From Nat'l Security Division's Historic Declination
The Justice Department National Security Division's recent decision not to prosecute a biochemical company for an employee's export control violation marks its first declination under a new corporate enforcement policy, sending a clear message to companies that self-disclosure of misconduct may confer material benefits, say attorneys at Perkins Coie.
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Deciphering SEC Disgorgement 4 Years After Liu
Since the U.S. Supreme Court’s 2020 decision in Liu v. U.S. Securities and Exchange Commission to preserve SEC disgorgement with limits, courts have continued to rule largely in the agency’s favor, but a recent circuit split over the National Defense Authorization Act's import may create hurdles for the SEC, say attorneys at Ropes & Gray.