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Compliance
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July 08, 2024
Gas Cos. To Pay $1M For Emissions Leaks At Colo. Plant
The U.S. Environmental Protection Agency and the state of Colorado have reached a settlement with a Colorado natural gas plant to resolve years of emissions leaks and regulatory violations that resulted in excess air pollution, according to a consent decree filed in federal court Monday.
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July 08, 2024
What's In Boeing's Tentative 737 Max Plea Deal With DOJ
Boeing's willingness to plead guilty to conspiring to defraud U.S. regulators over the 737 Max 8's development is a rare mea culpa from an embattled American aerospace titan eager to rebuild public trust after six years of overlapping government investigations, production pauses and mounting litigation.
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July 08, 2024
Boeing's Federal Contracts At Risk After Guilty Plea
Boeing's guilty plea for fraud related to the safety of its 737 Max 8 commercial aircraft will trigger additional scrutiny for a possible suspension or debarment from federal contracting, potentially putting lucrative future contracts at risk for the company.
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July 08, 2024
UnitedHealth Brass Face Investor Suit Over Merger Probe
Executives and directors of UnitedHealth Group were hit on Monday with a shareholder derivative suit alleging they concealed that the U.S. Department of Justice reopened an antitrust investigation into the health insurance giant following its acquisition of a healthcare data company and that its brass knowingly sold more than $100 million of shares before the information was publicly revealed.
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July 08, 2024
11th Circ. Reverses Halt On Ga. Election Spending Probe
The Eleventh Circuit on Monday threw out a district court ruling blocking Georgia officials from enforcing a state campaign finance law against two nonprofits founded by Stacey Abrams that challenged the law's constitutionality, holding that the lower federal court should have abstained in light of a state proceeding.
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July 08, 2024
Maple Leaf Must Go The Way Of Chevron, Solar Cos. Say
Last month's U.S. Supreme Court decision overturning 40 years of judicial deference to federal agencies' read of statutes puts the Federal Circuit's own brand of executive branch acquiescence squarely on the chopping block, a solar industry group said Monday.
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July 08, 2024
Full 2nd Circ. Urged To 'Correct' Panel's Insider Trading Ruling
A hedge fund accused of taking advantage of its corporate insider status to profit off swing trading in 1-800-Flowers' stock is urging the full bench of the Second Circuit to reconsider a decision to revive the lawsuit against it, arguing in a Monday petition to the court that the ruling clashes with both U.S. Supreme Court precedent and with controlling Second Circuit precedent on standing.
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July 08, 2024
Orgs Worry FCC Could Overreach On Network Security
The Federal Communications Commission should rein in its plans to impose new security rules regarding the crucial routing technology used by the internet, lest it prompt other countries to devise their own and start a domino effect, two internet security advocates have told the agency.
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July 08, 2024
FDIC Downgrades Green-Focused Bank On CRA Exam
The Federal Deposit Insurance Corp. has dinged Forbright Bank, a sustainability minded bank started by former Democratic presidential candidate John Delaney, over an allegedly "illegal credit practice" tied to a since-discontinued third-party partnership, lowering its latest community lending exam grade.
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July 08, 2024
Assa Abloy Says No Monitor 'Blank Check' After Merger Deal
Assa Abloy on Monday reasserted its bid to rein in a monitoring trustee installed after the company settled a government merger challenge, arguing ahead of a court hearing that the government is aiming to roll back the parties' deal and carry out a more expansive investigation through the monitor.
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July 08, 2024
Texas Anesthesia Co. Can't Pause Or Appeal Suit, FTC Says
The Federal Trade Commission urged a Texas federal court not to pause its suit accusing U.S. Anesthesia Partners Inc. of a monopolistic "roll-up" of Lone Star State anesthesia practices, arguing the company can't appeal an order refusing to toss the case against it.
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July 08, 2024
Justices Told To Ignore 'Hopeless' Challenge To Antitrust Test
A group of wholesalers who say the makers of 5-Hour Energy illegally favored Costco in distributing the energy drink shots told the U.S. Supreme Court on Monday to reject the drink-maker's certiorari petition, saying it asks the justices to take on the role of fact-finders.
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July 08, 2024
Hyundai, Kia Parent Cos. Escape MDL Over Car-Theft Wave
The South Korean parent companies of Hyundai and Kia do not belong in a multidistrict litigation over a nationwide wave of car thefts following a TikTok trend popularizing tips for breaking into their vehicles, a California federal court said, finding no personal jurisdiction over the foreign entities.
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July 08, 2024
NC Tax On Premiums Lowered For Some Insurance Cos.
North Carolina will reduce its tax on premiums paid in the state to some out-of-state liability insurance groups under a bill signed by Gov. Roy Cooper.
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July 08, 2024
NYU Settles Case Accusing It Of Fostering Antisemitism
New York University has settled a case brought by three Jewish students accusing the institution of fostering an antisemitic environment in a deal under which the school pledged to address discrimination toward Jewish and Israeli students.
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July 08, 2024
Nasdaq Seeks Tighter Listing Rules On Reverse Stock Splits
Nasdaq wants to tighten its rules so companies that raise their share prices through reverse stock splits to avoid being delisted don't obtain more time to regain compliance if the reverse split triggers another violation.
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July 08, 2024
Tribe Says NY Counties Want It To Pay For 911 Access
The Cayuga Nation says two New York counties have been refusing to forward 911 calls happening on the tribal land to the Nation's police department unless it pays, coordination that the tribe says no other law enforcement pays for and that the state says it has to do anyway.
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July 08, 2024
SEC Says Crypto Promoter Should Face Trial Before Appeal
The U.S. Securities and Exchange Commission urged a Texas federal court to move forward with a trial over whether a crypto influencer properly disclosed his promotion of a project, rather than wave through his bid to ask the Fifth Circuit to weigh in on whether securities laws applied to his case.
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July 08, 2024
Archegos Jury To Mull If $100B Flop A Crime Or Just Failure
Archegos founder Bill Hwang's disastrous hedge fund trading was legal, his lawyer argued in closing to a Manhattan federal jury Monday, after prosecutors claimed "undeniable proof" that Hwang and a co-defendant criminally distorted Wall Street to the tune of $100 billion.
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July 08, 2024
PAGA Reforms Mark New Era In Calif. Labor Law, Attys Say
Recently enacted reforms to California's Private Attorneys General Act will likely curb the recent surge in multimillion-dollar PAGA settlements and help employers "stop the bleeding," legal experts told Law360, but the amendments are also likely to spur further litigation over newly created ambiguities in the novel Golden State statute.
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July 08, 2024
Milbank Taps Ex-CFTC Senior Official From Jones Day
A former U.S. Commodity Futures Trading Commission division director has joined Milbank LLP as a partner in the firm's Washington office, where he will focus on regulatory and enforcement matters related to derivatives, financial market infrastructure and digital assets.
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July 08, 2024
Catching Up With Delaware's Chancery Court
Prince's heirs were left standing alone in a cold world last week after Delaware's Court of Chancery found their attempts to gain control of the late musician's estate too demanding. Delaware's court of equity also waved a wand for Walt Disney and slashed nearly $10 million from a damages award for Sears stockholders. In case you missed anything, here's a recap of all the latest news from Delaware's Chancery Court.
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July 08, 2024
Ex-Prosecutor Takes GC Role For Mass. Inspector General
Eugenia M. "Genie" Carris, a veteran federal public corruption prosecutor, has jumped to the Massachusetts inspector general's office as general counsel, the agency announced Monday.
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July 08, 2024
Feds Seize $63M LA Estate Tied To Armenian Bribe Probe
The U.S. Department of Justice said Monday that it will seize a $63 million Los Angeles estate that it claims was bought with bribe payments for the family of a former Armenian government official.
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July 08, 2024
Boeing To Plead Guilty, Pay $243M Fine In DOJ 737 Max Deal
Boeing has agreed to plead guilty to conspiring to defraud safety regulators about the 737 Max 8's development, avoiding a criminal trial over a pair of deadly crashes in 2018 and 2019, according to a U.S. Department of Justice court filing late Sunday.
Expert Analysis
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5 Climate Change Regulatory Issues Insurers Should Follow
The climate change landscape for insurers has changed dramatically recently — and not just because of the controversy over the U.S. Securities and Exchange Commission's climate-related risk disclosure rules, says Thomas Dawson at McDermott.
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How New Rule Would Change CFIUS Enforcement Powers
Before the May 15 comment deadline, companies may want to weigh in on proposed regulatory changes to enforcement and mitigation tools at the disposal of the Committee on Foreign Investment in the United States, including broadened subpoena powers, difficult new mitigation timelines and higher maximum penalties, say attorneys at Venable.
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What's Extraordinary About Challenges To SEC Climate Rule
A set of ideologically diverse legal challenges to the U.S. Securities and Exchange Commission's climate disclosure rule have been consolidated in the Eighth Circuit via a seldom-used lottery system, and the unpredictability of this process may drive agencies toward a more cautious future approach to rulemaking, say attorneys at Thompson Coburn.
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8 Questions To Ask Before Final CISA Breach Reporting Rule
The Cybersecurity and Infrastructure Security Agency’s recently proposed cyber incident reporting requirements for critical infrastructure entities represent the overall approach CISA will take in its final rule, so companies should be asking key compliance questions now and preparing for a more complicated reporting regime, say Arianna Evers and Shannon Mercer at WilmerHale.
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Is The Digital Accessibility Storm Almost Over?
Though private businesses have faced a decadelong deluge of digital accessibility complaints in the absence of clear regulations or uniformity among the courts, attorneys at Epstein Becker address how recent federal courts’ pushback against serial Americans with Disabilities Act plaintiffs and the U.S. Department of Justice’s proposed government accessibility standards may presage a break in the downpour.
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PE In The Crosshairs Of Public And Private Antitrust Enforcers
A series of decisions from a California federal court in the recently settled Packaged Seafood Products Antitrust Litigation, as well as heightened scrutiny from federal agencies, serve as a reminder that private equity firms may be exposed to liability for alleged anti-competitive conduct by their portfolio companies, say attorneys at Axinn.
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Series
Swimming Makes Me A Better Lawyer
Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.
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Mid-2024 FCA Enforcement And Litigation Trends To Watch
Reviewing notable False Claims Act trends and enforcement efforts in the last year and a half reveals that healthcare is a key enforcement priority for the U.S. Department of Justice, and the road ahead may bring clarification on Anti-Kickback Statute causation and willfulness standards, along with increased focus on private equity, cybersecurity and self-disclosure, say attorneys at Epstein Becker.
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Key Priorities In FDIC Report On Resolving Big Bank Failures
The Federal Deposit Insurance Corp.'s report last month on the resolvability of large financial institutions contains little new information, but it does reiterate key policy priorities, including the agency's desire to enhance loss-absorbing capacity through long-term debt requirements and preference for single-point-of-entry resolution strategies, say attorneys at Freshfields.
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Justices' Title VII Ruling Requires Greater Employer Vigilance
The U.S. Supreme Court’s recent Muldrow v. St. Louis ruling expands the types of employment decisions that can be challenged under Title VII, so employers will need to carefully review decisions that affect a term, condition or privilege of employment, say attorneys at Morgan Lewis.
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Opinion
SEC Should Be Allowed To Equip Investors With Climate Info
The U.S. Securities and Exchange Commission's new rule to require more climate-related disclosures will provide investors with much-needed clarity, despite opponents' attempts to challenge the rule with misused legal arguments, say Sarah Goetz at Democracy Forward and Cynthia Hanawalt at Columbia University’s Sabin Center for Climate Change.
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8 Fla. Statutes That Construction Cos. Should Prepare For
In this article, Jason Lambert at Hill Ward discusses a number of recent bills out of the Florida Legislature targeting construction companies in the Sunshine State that have been sent to the governor for signature, at least some of which will have broad impacts that affected companies should prepare for ahead of the July 1 effective date.
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Manufacturers Should Pay Attention To 'Right-To-Repair' Laws
Oregon’s recently passed "right-to-repair" statute highlights that the R2R movement is not going away, and that manufacturers of all kinds need to be paying attention to the evolving list of R2R statutes in various states and consider participating in the process, says Courtney Sarnow at Culhane.
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Microplastics At The Crossroads Of Regulation And Litigation
Though there are currently not many federal regulations specifically addressing microplastics as pollutants, regulatory scrutiny and lawsuits asserting consumer protection claims are both on the rise, and manufacturers should take proactive steps to implement preventive measures accordingly, say Aliza Karetnick and Franco Corrado at Morgan Lewis.
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New Federal Bill Would Drastically Alter Privacy Landscape
While the recently introduced American Privacy Rights Act would eliminate the burdensome patchwork of state regulations, the proposed federal privacy law would also significantly expand compliance obligations and liability exposure for companies, especially those that rely on artificial intelligence or biometric technologies, says David Oberly at Baker Donelson.