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Compliance
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April 22, 2025
Instagram Founder Says Meta 'Starved' Co. After Acquisition
During testimony in the Federal Trade Commission's monopoly case against Meta on Tuesday, the founder of Instagram said his company was "starved" after being acquired by Facebook as Mark Zuckerberg grappled with "a lot of emotion" over Instagram siphoning users away from its parent company's flagship platform.
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April 22, 2025
FTX Ch. 11 Trust Says Ex-Exec's Wife Spent $600K Since Dec.
The FTX Recovery Trust urged a Delaware bankruptcy judge to enjoin the wife of former FTX executive Ryan Salame from spending additional money that the trust said was fraudulently taken from the company before its bankruptcy filing, saying Michelle Bond has spent more than $600,000 since mid-December on legal fees, luxury vacations and credit card bills.
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April 22, 2025
Audit Finds Calif. Universities' Repatriation Efforts Still Slow
The University of California system, despite years of demands for compliance to a federal law designed to protect Indigenous burial sites, still lacks accountability and urgency to return to tribes the thousands of Indigenous remains and artifacts in its collections, according to a state audit on the process.
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April 22, 2025
Wind Farm Work Stoppage Raises Energy Project Risks
The Trump administration's recent move to freeze construction of a federally approved offshore wind farm has energy infrastructure developers concerned that their permits may not protect them from the government pulling the plug on their projects.
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April 22, 2025
SEC Won't Renew Case Against Hex Crypto Founder
The U.S. Securities and Exchange Commission won't take a second crack at its fraud case against the founder of the Hex, PulseChain and PulseX crypto projects after a Brooklyn federal judge tossed the suit last month due to a lack of stateside ties.
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April 22, 2025
District's $59M Building Contract Void Over Undisclosed Gifts
A state appeals court freed a West Texas school district from a suit over the termination of a $59 million construction contract, finding that the construction company didn't properly disclose multiple gifts to district employees.
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April 22, 2025
CFPB Waves White Flag In Prepaid Rule Fight With PayPal
The Consumer Financial Protection Bureau has abandoned its D.C. Circuit defense of a rule that subjected Venmo-style digital wallets to some of the same fee disclosure requirements as reloadable prepaid cards, walking away from an appeal of PayPal's legal challenge to the regulation.
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April 22, 2025
4th Circ. Rejects Full Court Review Of Credit Union's Liability
The Fourth Circuit has declined to take a second look at a panel decision finding a credit union cannot be held liable for a scammer's use of its services to swindle a metal fabricator out of $560,000.
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April 22, 2025
CFTC Wants Input On 24/7 Trading, Perpetual Contracts
The U.S. Commodity Futures Trading Commission is asking the public for feedback on how it should address the availability of 24-hour trading as well as so-called perpetual derivatives that are sometimes used to speculate on the price of cryptocurrencies.
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April 22, 2025
Kalshi, Crypto.com Fight Md. Regulator On Sports Contracts
Trading platform KalshiEx LLC and the derivatives platform owned by Crypto.com have each sued Maryland gaming regulators for allegedly preempting federal authority with directives to shut down sports event contracts the agency contends are unregistered wagers.
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April 22, 2025
DOJ Wants Time During 9th Circ. Vegas Room Rate Arguments
The U.S. Department of Justice has asked to participate in the Ninth Circuit argument for an appeal from Las Vegas casino-hotel guests accusing the operators of using software to inflate room rates, the first algorithmic price-fixing case to reach an appeals court.
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April 22, 2025
DOJ Says Google Ad Tech Win Supports Apple Antitrust Case
The U.S. Department of Justice told a New Jersey federal court its recent win against Google in the ad tech monopolization case supports allowing claims that Apple monopolizes smartphone markets to proceed.
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April 22, 2025
Phillips Steps Down As FERC Commissioner
Federal Energy Regulatory Commission Commissioner Willie Phillips stepped down from his role on Tuesday, paving the way for President Donald Trump to install a Republican majority at the five-member agency.
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April 22, 2025
Montana Farmers Union Asks To Join Tribe's Anti-Tariff Suit
The Montana Farmers Union wants to be included in a suit filed by members of the Blackfeet Nation challenging President Trump's tariffs on imports from Canada and abroad, arguing that the duties under scrutiny hurt the state's farmers the same way they hurt tribal members.
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April 22, 2025
Ark. Offers Credit For 50% Of New Payroll For HQ Relocations
Arkansas created an income tax credit for businesses that relocate their corporate headquarters to the state equal to up to 50% of their payroll for qualifying employees under a bill signed by Gov. Sarah Huckabee Sanders.
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April 22, 2025
J&J Ends Trade Secrets Suit Against Now Deceased Ex-Exec
Johnson & Johnson has reached a settlement with the estate of a former executive that it accused of stealing confidential files when he left the company to work for Pfizer, but who died in the middle of the litigation, the parties told a New Jersey federal court.
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April 22, 2025
FCC Clears Remaining Roadblocks For Smart Car Tech
There won't be any more need for waivers of technical rules to kickstart smart car technology in the 5.9 gigahertz spectrum band now that recent regulations have paved the way for the advancement, the Federal Communications Commission said.
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April 22, 2025
Court Appoints Monitor In SEC's $1B PE Fraud Case
A Florida federal judge has appointed a founding partner of a Florida law firm to serve as a monitor in the U.S. Securities and Exchange Commission's suit against a private equity firm it says defrauded investors in a $1 billion fund focused on real estate and small business funding.
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April 22, 2025
Cut Satellite Launch Costs, Loosen Limits, FCC Told
Internet satellite company Astranis wants the Federal Communications Commission to spur more space innovation by cutting the expense of satellite launches and eliminating restrictions that delay U.S. companies' ability to obtain orbital slots.
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April 22, 2025
Chase Bank Can't Ditch Claims It Aided $119M Ponzi Scam
A California federal judge trimmed on Monday SiliconSage Builders LLC receiver's lawsuit accusing JPMorgan Chase of allegedly helping the now-defunct real estate developer carry out a massive $119 million Ponzi scheme, tossing an unjust enrichment claim, but allowing the bulk of the aiding-and-abetting allegations to survive.
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April 22, 2025
JPMorgan Fined $650K Over Regulation M Reporting Failures
The Financial Industry Regulatory Authority and several stock exchanges, including Nasdaq and some New York Stock Exchange entities, teamed up to fine JPMorgan $650,000 for failing to file hundreds of required reports under Regulation M, which makes it unlawful for brokers to trade on certain securities during a restricted period.
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April 22, 2025
Nuclear Startup To Go Public Through $475M SPAC Deal
Nuclear startup Terra Innovatum said Tuesday it plans to go public at a valuation of $475 million by merging with special purpose acquisition company GSR III Acquisition Corp., joining several industry peers to go public through a SPAC deal.
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April 22, 2025
MoFo Adds Perkins Coie FDA Regulatory Leader In DC
Morrison Foerster LLP has hired a former Perkins Coie LLP leader who focuses his practice on a range of regulatory matters involving the U.S. Food and Drug Administration as its new head of food and regulatory, the firm announced Tuesday.
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April 22, 2025
In Trump Standoff, Harvard Has Law And Money On Its Side
With strong free-speech arguments and plenty of cash at its disposal, Harvard University appears better positioned than most Trump administration foes to win a high-stakes and closely watched showdown over threats to cut off funding, experts told Law360.
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April 22, 2025
Anticipating NIL Deal, NCAA Changes Athlete Pay Rules
The NCAA has officially adopted policy changes that will allow college athletes to be paid, to go into effect when the $2.78 billion antitrust settlement between schools and athletes receives final court approval.
Expert Analysis
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10 Soft Skills Every GC Should Master
As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.
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How Proxy Advisory Firms Are Approaching AI And DEI
Institutional Shareholder Services' and Glass Lewis' annual updates to their proxy voting guidelines reflect some of the biggest issues of the day, including artificial intelligence and DEI, and companies should parse these changes carefully, say attorneys at Cahill Gordon.
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6 Criteria Can Help Assess Executive Branch Actions
With new executive policy changes announced seemingly every day, several questions can help courts, policymakers and businesses determine whether such actions are proper, effective and in keeping with our democratic norms, say Marc Levin and Khalil Cumberbatch at the Council on Criminal Justice.
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Reviving A Dormant Criminal Statute In Antitrust Prosecution
The U.S. Department of Justice is poised to revive a dormant misdemeanor statute to resolve bid-rigging charges against a foreign national, providing important context to a recent effort to entice foreign defendants to take responsibility for pending charges or face the risk of extradition, say attorneys at Axinn.
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End May Be In Sight For Small Biz Set-Aside Programs
A Jan. 21 executive order largely disarming the Office of Federal Contract Compliance Programs, along with recent court rulings, suggests that the administration may soon attempt to eliminate set-asides intended to level the award playing field for small business contractors that qualify under socioeconomic programs, say attorneys at Alston & Bird.
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Traversing The Shifting Sands Of ESG Reporting Compliance
Multinational corporations have increasingly found themselves between a rock and a hard place attempting to comply with EU and California ESG requirements while not running afoul of expanding U.S. anti-ESG regimes, but focusing on what is material to shareholder value and establishing strong governance can help, say attorneys at MoFo.
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.
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Ban On Reputation Risk May Help Bank Enforcement Defense
The Comptroller of the Currency and Federal Deposit Insurance Corp.’s recent commitment to stop examining banks for reputation risk could help defendants in enforcement actions challenge unfavorable assessments and support defendants' arguments for lower civil money penalties, says Brendan Clegg at Luse Gorman.
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Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.
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Keys To Regulatory Diligence In Life Sciences Transactions
Conducting effective regulatory due diligence for life sciences deals requires careful review of a target company's activities, and separate sets of considerations for commercial and pipeline products, says Anna Zhao at GunnerCooke.
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How Plan Sponsors Can Mitigate Risk In PBM Contracts
A recent lawsuit in New York federal court alleges that JPMorgan caused exorbitant prescription costs by mishandling the pharmacy benefit manager arrangement, adding to a growing body of Employee Retirement Income Security Act fiduciary breach litigation and affirming that fiduciaries must proactively manage their healthcare plan vendors, say attorneys at Hall Benefits Law.
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Lessons From Pa. Wiretapping Class Action Dismissal
A recent wiretapping class action in Pennsylvania federal court resulting in the dispositive dismissal of the action provides key insights on how online notice and consent can be leveraged to directly address and mitigate legal risks and class action liability exposure, say attorneys at Baker Donelson.
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Assessing Market Manipulation Claims In Energy Markets
Today's energy markets are conducive to sudden price changes, breakdowns in pricing linkages and substantial shifts in trading patterns, so it's necessary to take a holistic view when evaluating allegations of market manipulation, say Maximilian Bredendiek, Greg Leonard and Manuel Vasconcelos at Cornerstone Research.
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How Calif., NY Could Fill Consumer Finance Regulatory Void
California and New York have historically taken the lead in consumer financial protection, and both show signs of becoming even more active in this area during the second Trump administration amid an enforcement pullback at the federal level, say attorneys at Sidley.
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Series
Volunteer Firefighting Makes Me A Better Lawyer
While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.