Compliance

  • December 18, 2024

    Pharma Trial Consultant To Pay SEC $3M Over Insider Trading

    An oncologist and clinical professor at the University of California, Irvine agreed to pay the U.S. Securities and Exchange Commission $3 million to resolve allegations he purchased shares in a Massachusetts biotech company based on insider information regarding a clinical trial he was overseeing, the SEC announced Wednesday.

  • December 18, 2024

    NYC Agrees To Pay Immigrants $92.5M In Overdetention Suit

    A New York state court Wednesday gave the initial OK to New York City's agreement to pay a class of over 20,000 individuals up to $92.5 million to resolve decadelong allegations the city unlawfully detained immigrants for days or weeks longer than allowed under U.S. Immigration and Customs Enforcement detainers.

  • December 18, 2024

    Feds Get Judge's OK On $150M Lower Passaic Pollution Deal

    A New Jersey federal judge Wednesday signed off on the federal government's $150 million consent decree with 82 companies that share some responsibility for the Garden State's Lower Passaic River pollution, calling the agreement "an important next step" in holding the companies accountable and furthering cleanup efforts.

  • December 18, 2024

    Split 9th Circ. Backs 46-Month Prison Term For Stock Pumper

    A divided Ninth Circuit on Wednesday affirmed a 46-month sentence for a Canadian man convicted of securities fraud in a pump-and-dump scheme involving a cannabis and gaming company, rejecting his argument that the lower court erred by calculating "intended loss" to enhance his sentence, since circuit precedent recognizes both actual and intended losses.

  • December 18, 2024

    Charles Schwab Says Ex-Employee Stole Client Info

    Charles Schwab has filed a suit in Texas federal court accusing a former employee of misappropriating confidential trade secrets and client information to solicit business once he joined a competitor.

  • December 18, 2024

    OCC Orders 'Comprehensive' Remedial Action For USAA Bank

    The Office of the Comptroller of the Currency on Wednesday hit USAA Federal Savings Bank with curbs on new product additions and membership growth as part of a fresh consent order that follows prior enforcement actions against the military-focused bank.

  • December 18, 2024

    Emissions Cheating Biz Gets Truck Tuning Co. CEO 10 Months

    The owner of a prominent Louisiana automotive tuning company will serve 10 months of a three-year probation term on house arrest in addition to paying a $1.55 million criminal fine after pleading guilty to selling illegal software that bypassed diesel trucks' emissions controls, the U.S. Department of Justice announced Wednesday.

  • December 18, 2024

    Vaxart Investors Win Class Cert. Over COVID Shot On 2nd Try

    A California federal judge has certified a class of Vaxart investors accusing the biotechnology company's onetime controlling shareholder of dumping stock at inflated prices following deceptive headlines about a COVID-19 vaccine, saying the investors' revised motion fixes issues of predominance and the damages model.

  • December 18, 2024

    Acima Says CFPB's 'Baseless' Power-Grab Suit Must Go

    Rent-A-Center affiliate Acima has urged a Utah federal judge to throw out a Consumer Financial Protection Bureau lawsuit accusing the lease-to-own fintech company of predatory lending practices, arguing that the agency has an unconstitutional funding mechanism and lacks the authority to regulate lease-to-own businesses, among other things.

  • December 18, 2024

    High Court Bar's Future: McDermott's Paul Hughes

    Paul W. Hughes of McDermott Will & Emery LLP knows U.S. Supreme Court oral arguments are unpredictable — you can end up as the butt of a justice's joke or have the whole bench fully embrace your novel legal theory — so he focuses on what he can control: being overprepared for any version of the court he meets.

  • December 18, 2024

    Schools Fighting Price-Fixing Suit Face $685M Damages Claim

    Students looking to hold a group of elite universities and colleges liable for an allegedly anticompetitive financial aid fixing scheme say they should be allowed to proceed as a class because they'll use common evidence to prove they suffered about $685 million in damages.

  • December 18, 2024

    FDIC Moves Closer To Suing Ex-Brass Of Silicon Valley Bank

    Federal Deposit Insurance Corp. leaders have given a green light for the agency to potentially sue former top brass of Silicon Valley Bank for alleged mismanagement of the bank that led to its collapse last year.

  • December 18, 2024

    Standing Unchanged In Gun Show Loophole Case, States Say

    A Texas-led coalition of states has told a federal judge that the ATF failed to "move the needle" in arguing that several pro-Second Amendment organizations don't have standing to challenge a Biden administration rule that would broaden the scope of who qualifies as a firearms dealer. 

  • December 18, 2024

    Divided SEC Approves PCAOB's $400M Budget

    The Public Company Accounting Oversight Board will receive the nearly $400 million it requested to fund its operations in 2025, despite the objections of Republican members of the U.S. Securities and Exchange Commission on Wednesday who expressed concern about the auditing watchdog's growing budget.

  • December 18, 2024

    NJ Court Orders AG To Give Up Control Of Paterson Police Dept.

    New Jersey Attorney General Matthew J. Platkin exceeded his authority last year when he took over police department operations in the city of Paterson and reassigned the police chief to a training post outside the city, a state appellate court ruled Wednesday.

  • December 18, 2024

    State AGs, Generic Cos. Fight Over Price-Fixing Trial Order

    A contingent of state-level enforcers told a Connecticut federal court there is no need to reconsider prioritizing a sprawling generic drug price-fixing case that involves more than 100 medications over a narrower case the drugmakers are asking to have tried first.

  • December 18, 2024

    DOJ Wants Misconduct Allegations Hushed In Used Car Case

    The U.S. Department of Justice wants to bar defendants accused of violently controlling the cross-border transport of American used cars into Central America from raising accusations of misconduct by nonwitness law enforcement officers to the jury without prior approval from the Texas federal judge overseeing the case.

  • December 18, 2024

    EY Accused Of Aiding Energy Firm's SPAC Fraud

    Big Four accounting firm EY faces a suit alleging that its "unqualified" audit opinions for a United Arab Emirates-based oil storage leasing company enabled the company to defraud investors in its $1 billion 2019 merger with a special purpose acquisition company.

  • December 18, 2024

    Judge Wants To Know If Colo. Kroger Merger Fight Is Moot

    A Colorado state judge wants to know whether two recent decisions blocking the proposed $24.6 billion merger of The Kroger Co. and Albertsons Cos. Inc. has mooted Attorney General Phillip J. Weiser's challenge to the transaction, according to a briefing plan approved Tuesday. 

  • December 18, 2024

    FCC Asked To Place Conditions On Skydance-Paramount Deal

    Paramount Global's $2.4 billion plan to merge with Skydance Media has gained another critic, a right-leaning nonprofit law firm that wants the Federal Communications Commission to refuse to approve the tie-up without placing conditions on Paramount's CBS.

  • December 18, 2024

    CVS Fueled Opioid Epidemic In Rush For Profits, Feds Say

    The U.S. Department of Justice unveiled a suit Wednesday accusing CVS, the nation's largest pharmacy chain, of knowingly filling invalid prescriptions for powerful opioids and ignoring internal pleas from its pharmacists as it allegedly put profits over safety. 

  • December 18, 2024

    Conn. AG Can't Close Courtroom In Ghost Gun Hearing

    A Connecticut state judge won't close the courtroom for a damages hearing in a suit by the state against an online shop selling so-called ghost gun kits, saying the public's interest in the facts of the case outweighs the state's concerns about an undercover investigator's safety.

  • December 18, 2024

    EPA Greenlights California's Race To 100% ZEVs By 2035

    The U.S. Environmental Protection Agency on Wednesday authorized California's plan to require that all new light cars and trucks sold in the state be zero-emission vehicles by 2035, a move that was instantly slammed by the fossil fuel industry.

  • December 18, 2024

    RJ Reynolds Asks Justices To Toss Forum Shopping Argument

    R.J. Reynolds Vapor Co. is urging the U.S. Supreme Court to reject the U.S. Food and Drug Administration's argument that the vape company engaged in forum shopping when it challenged denial of one of its applications in the Fifth Circuit, saying its Texas- and Mississippi-based co-petitioners make the Fifth Circuit the proper venue.

  • December 18, 2024

    Connecticut AG Gets Remand Of 'Forever Chemicals' Suit

    A Connecticut federal judge has shipped one of the state's PFAS "forever chemicals" lawsuits back to state court, siding with the state attorney general's argument that the case targeted pollution from consumer products and civilian industrial sources that were not "inextricably commingled" with chemicals produced to military specifications.

Expert Analysis

  • Ledbetter's Legacy Shines In 2024 Equal Pay Law Updates

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    The federal Lilly Ledbetter Fair Pay Act turned 15 this year, and its namesake's legacy is likely to endure in 2025 and beyond, as demonstrated by 2024's state- and local-level progress on pay equity, as well as several rulings from federal appellate courts, say attorneys at Fisher Phillips.

  • The Future Of GLP-1 Policy After Drug Shortage Ends

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    If and when the U.S. Food and Drug Administration determines that GLP-1 RA drugs are no longer in short supply, regulators will face questions of how to balance access to GLP-1 RAs with statutory and policy considerations applicable to compounded drugs, say attorneys at Skadden.

  • Conducting A 'Reasonably Expected Market Area' Analysis

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    Regardless of whether the incoming administration scales back on redlining examinations and investigations, lenders should take steps to understand how regulators define "reasonably expected market areas," and how to conduct analyses of such areas, say attorneys at Mitchell Sandler.

  • Opinion

    Justices Rightly Corrected Course In Nvidia And Facebook

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    By dismissing both the Nvidia and Facebook class actions, over investors' ability to hold corporations accountable for fraud, the U.S. Supreme Court was right in refusing to favor corporations over transparency, and reaffirmed its commitment to corporate accountability, investor protection and the rule of law, says Laura Posner at Cohen Milstein.

  • Gov't Scrutiny Of Workplace Chat Apps Set To Keep Growing

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    The incoming Trump administration and Republican majorities in Congress are poised to open numerous investigations that include increasing demands for entities to produce communications from workplace chat apps, so companies must evaluate their usage and retention policies, say attorneys at Orrick.

  • 2024 Regulatory Developments For Bank-Fintech Partnerships

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    Joseph Silvia at Duane Morris reviews a handful of particularly noteworthy 2024 updates regarding bank-fintech partnerships, including federal banking agencies issuing a number of important pieces of guidance that reiterate and update previous guidance in the area of third-party risk management.

  • 2025's Midmarket M&A Terrain May Hold A Few Bright Spots

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    Attorneys at Stoel Rives assess middle-market merger and acquisition trends, and explain why many dealmakers have turned cautiously optimistic about the sector's 2025 prospects, despite potential inflation and new Federal Trade Commission rules.

  • Top 10 Whistleblowing And Retaliation Events Of 2024

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    From a Florida federal court’s ruling that the False Claims Act’s qui tam provision is unconstitutional to a record-breaking number of whistleblower tips filed with the U.S. Commodity Futures Trading Commission, employers saw significant developments in the federal and state whistleblower landscapes this year, say attorneys at Proskauer.

  • The Implications Of 2024's AI Rules And Regs For Patent Attys

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    Christina Huang, John Smith and Devin Stein at Faegre Drinker review this year's new rules and regulations on the development and use of artificial intelligence — from the Biden administration, the U.S. Patent and Trademark Office, the American Bar Association and various states — as they apply to patent attorneys.

  • Green Card Sponsorship Expectations Reset In 2024

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    In 2024, adjudication times for employment-based green card applications increased to about 13 months, prompting more employers to implement varied strategies to avoid losing talent and minimize business disruptions, a trend that is likely to continue in the new year, says Jennifer Cory at FisherBroyles.

  • When US Privilege Law Applies To Docs Made Outside The US

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    As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.

  • Changes To Expect From SEC Under Trump Nominee

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    President-elect Donald Trump's nomination of Paul Atkins for U.S. Securities and Exchange Commission chair will likely lead to significant shifts in the Division of Enforcement's priorities, likely focused on protecting retail investors and the stability of the capital markets, say attorneys at Morrison Foerster.

  • Ring In The New Year With An Updated Employee Handbook

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    One of the best New Year's resolutions employers can make is to update their employee handbooks, given that a handbook can mitigate, or even prevent, costly litigation as long as it accounts for recent changes in laws, court rulings and agency decisions, say attorneys at Kutak Rock.

  • 'Minimal Participant' Bar Is Tough To Clear For Whistleblowers

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    Under the U.S. Department of Justice’s corporate whistleblower pilot program, would-be whistleblowers will find it tough to show that they only minimally participated in criminal misconduct while still providing material information, but sentencing precedent shows how they might prove their eligibility for an award, say attorneys at MoloLamken.

  • 9 Things To Expect From Trump's Surprising DOL Pick

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    The unexpected nomination of Rep. Lori Chavez-DeRemer, R-Ore., to lead the U.S. Department of Labor reflects a blend of pro-business and pro-labor leanings, and signals that employers should prepare for a mix of continuity and moderate adjustments in the coming years, say attorneys at Fisher Phillips.

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