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Compliance
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August 15, 2024
Realtors Urge 9th Circ. Not To Revive Zillow Antitrust Case
The National Association of Realtors has urged the Ninth Circuit to reject a defunct brokerage platform's appeal in a case over design changes Zillow made to comply with an association rule, saying the rule is optional and that Zillow acted on its own.
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August 15, 2024
6th Circ. Finds Biden Had Power To Fire Former NLRB GC
President Joe Biden lawfully fired former National Labor Relations Board general counsel Peter Robb more than three years ago, the Sixth Circuit ruled, with the appeals court saying removal protections for the agency's top prosecutor would affect the official's accountability to the president.
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August 15, 2024
Pharmacy Can't Dodge Novo Nordisk's Diabetes Drug Suit
A Tennessee federal judge on Thursday declined to throw out a suit by Novo Nordisk Inc. alleging that DCA Pharmacy is selling drugs with the same active ingredient as its Ozempic diabetes medicine without U.S. Food and Drug Administration authorization.
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August 15, 2024
FTC Renews Bid To Toss Meta's Constitutionality Case
The Federal Trade Commission has told a D.C. federal court that a recent U.S. Supreme Court ruling does not support Meta's case raising constitutional challenges to a data privacy order, arguing the case should be tossed.
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August 15, 2024
Alaska, Hawaiian Airlines Extend DOJ Review Deadline, Again
Alaska Air Group Inc. and Hawaiian Airlines disclosed a third extension in as many weeks Thursday for the U.S. Department of Justice to review their proposed $1.9 billion merger before it can close, moves that suggest at least that the DOJ has raised serious concerns about the transaction.
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August 15, 2024
Price-Fixing Claims Against Par Pharma Tossed After Ch. 11
A Connecticut federal judge on Thursday tossed Par Pharmaceutical Cos. Inc. from two price-fixing lawsuits after the defendant and its parent, Endo International PLC, recently filed the Chapter 11 reorganization plans that they said shielded them from the cases.
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August 15, 2024
SEC Defendants Fight Ex-Latham Atty For Whistleblower Docs
A credit reporting agency at the center of a $73 million U.S. Securities and Exchange Commission lawsuit is seeking to force a retired Latham & Watkins LLP partner to hand over his discussions with a pair of SEC whistleblowers, arguing that the attorney's work for the tipsters isn't privileged.
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August 15, 2024
Fla.'s The Villages Exempted From FTC Noncompete Ban
A Florida retirement community's real estate broker will be exempt when the Federal Trade Commission's noncompete ban goes into effect next month, under a limited injunction imposed by a federal judge who recognized the agency's rulemaking powers but said they go too far here.
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August 15, 2024
Interior Department Grants $775M To Plug Oil And Gas Wells
The U.S. Department of the Interior said it's making up to $775 million available for 21 eligible states to plug orphaned oil and gas wells to curb harmful methane leaks and reduce risks to the environment and public health.
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August 15, 2024
Connecticut Watchdog Calls For Action On Utility 'Rate Shock'
A Connecticut consumer rights watchdog agency has asked the state's utility regulator to reverse rate hikes that it recently approved for major energy companies or to take other actions to prevent future "rate shock" for state residents.
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August 15, 2024
Gemini Suit Raises Novel Question On Crypto Law, Court Told
A suit from a consumer advocacy organization claimed Gemini Trust Co.'s user agreement unfairly put the onus on consumers to protect themselves from scams, but the Winklevoss-led crypto exchange said the litigation raises a larger question of whether the federal statute at the heart of the claims applies to cryptocurrencies.
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August 15, 2024
No Harm In SEC Releasing More Info On Breach, Judge Told
A conservative civil liberties group questioned the U.S. Securities and Exchange Commission's claims that releasing additional materials related to its handling of an internal firewall breach would harm the public interest Thursday, telling a D.C. federal judge in court that so much was already out, more sunlight couldn't hurt.
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August 15, 2024
Prof Rips DOJ, VW's 9th Circ. Bid To Shield Jones Day Docs
A Loyola Marymount University professor has urged the Ninth Circuit to shut down the U.S. Department of Justice and Volkswagen AG's relentless "obfuscation" in a long-running dispute over access to confidential Volkswagen documents that were part of a Jones Day investigation into the automaker's 2015 emissions-cheating scandal.
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August 15, 2024
White Collar Partner Duo Joins Duane Morris In NY
Duane Morris has hired two new trial partners in New York who've spent the last 15 years working together as white collar attorneys at Peckar & Abramson.
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August 15, 2024
Colorado, Suncor Back EPA In Denver Refinery Permit Fight
Colorado and Suncor Energy USA Inc. told the Tenth Circuit the U.S. Environmental Protection Agency was right to refuse to object to a series of permit changes state regulators approved for the company's Denver-area oil refinery, as fights over the facility's emissions are heating up.
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August 15, 2024
Trump Seeks To Delay NY Sentencing Until After Election
Donald Trump asked to delay sentencing in his New York hush money case until after the 2024 presidential election, arguing he needs time to potentially appeal if he loses an attempt to erase the felony conviction on the basis of presidential immunity.
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August 15, 2024
Asphalt Co. To Pay $6.5M For Criminal Bid-Rigging Scheme
A Detroit-area asphalt paving company was sentenced Thursday to pay $6.5 million after it pled guilty to participating in a sprawling bid-rigging scheme in Michigan, with federal prosecutors alleging the company's leaders worked with competitors to drive up the price of paving contracts.
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August 15, 2024
Banking Groups Sue To Thwart New Ill. Swipe Fee Restrictions
The nation's largest bank trade association and other industry groups sued Thursday to block Illinois from implementing a new state law that prohibits financial intermediaries from charging so-called swipe fees on the sales tax and tip portions of payment card transactions, arguing it conflicts with federal law and risks broader "chaos."
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August 14, 2024
T-Mobile Hit With $60M Fine Over National Security Risks
The Committee on Foreign Investment in the U.S. fined T-Mobile US Inc. $60 million for alleged national security failures, including failing to prevent the unauthorized access of "certain sensitive data" and to promptly report such incidents, according to news reports Wednesday and the agency's website.
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August 14, 2024
SEC, CFTC To Collect $474M In Latest Texting Probe Fines
The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission on Wednesday announced settlements totaling nearly $474 million with several broker-dealers, investment advisers and other registered firms over failures to maintain and preserve text messages and other electronic communications as required under federal law.
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August 14, 2024
CFPB Faces Call To Treat Housing Rental Leases As 'Credit'
A major consumer advocacy group has formally petitioned the Consumer Financial Protection Bureau to write new rules that would require landlords to provide "adverse action" explanations when rejecting prospective renters who have applied for an apartment or other housing lease.
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August 14, 2024
New York Sues Lease-To-Own Fintech For 'Cheating' Users
New York state sued lease-to-own fintech company Acima on Wednesday, accusing the firm of taking advantage of consumers with deceptive practices around its lease agreements and interest rates that go far beyond the state's standard for usury.
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August 14, 2024
ICE Faces Trimmed Suit Over Detainee's COVID-19 Death
A California federal court on Tuesday again allowed U.S. Immigration and Customs Enforcement to trim a lawsuit alleging it failed to protect a man who died in detention but kept claims alleging ICE failed to oversee its facilities or protect the man from COVID-19.
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August 14, 2024
FINRA Fines Morgan Stanley $400K Over Transaction Records
A Morgan Stanley wealth management unit will pay the Financial Industry Regulatory Authority $400,000 to settle claims it left required information off of approximately 550,000 trade confirmations for certain municipal securities.
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August 14, 2024
Temu Parent Faces Investor Suit Over Security, Labor Claims
Chinese retail company PDD Holdings Inc., the owner of online merchandiser Temu, was hit with a proposed securities class action in New York federal court alleging it concealed from investors that it actively sought to put malware on its users' phones and sold goods that were likely made by forced labor.
Expert Analysis
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Boeing Plea Deal Is A Mixed Bag, Providing Lessons For Cos.
The plea deal for conspiracy to defraud regulators that Boeing has tentatively agreed to will, on the one hand, probably help the company avoid further reputational damage, but also demonstrates to companies that deferred prosecution agreements have real teeth, and that noncompliance with DPA terms can be costly, says Edmund Vickers at Red Lion Chambers.
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5 Steps To Protect Your Business From Spoofed Email Fraud
In today's digital landscape, spoofed email fraud poses a significant threat to businesses, so specifying clear payment instructions and implementing robust verification protocols, among other steps, can significantly reduce the risk of falling victim to email fraud, says Bill Wagner at Taft.
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Keeping Up With Carbon Capture Policy In The US And EU
Recent regulatory moves from the U.S. Environmental Protection Agency and the European Commission in the carbon capture, sequestration and storage space are likely to further encourage the owners and operators of fossil fuel-fired power plants to make decisions on shutdowns or reconfiguration to meet the expanding requirements, say Inosi Nyatta and Silvia Brünjes at Sullivan & Cromwell.
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Unpacking The Increasingly Popular Fair Credit Billing Act
The Fair Credit Billing Act is receiving increased attention from regulators and consumers disputing credit card charges, so creditors should understand its procedural requirements — including the law's focus on the mechanics of a dispute and its potential to create civil liability, say David Gettings and Courtney Hitchcock at Troutman Pepper.
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New State Climate Liability Laws: What Companies Must Know
New legislation in Vermont and New York creating liability and compliance obligations for businesses deemed responsible for climate change — as well as similar bills proposed in California, Massachusetts and Maryland — have far-reaching implications for companies, so it is vital to remain vigilant as these initiatives progress, say Gregory Berlin and Jeffrey Dintzer at Alston & Bird.
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Analyzing FDA Draft Guidance On Clinical Trial Diversity
In light of the U.S. Food and Drug Administration's draft guidance on clinical trial diversity action plans, there are several important considerations for sponsors and clinical researchers to keep in mind to prevent delay in a drug or device application, say attorneys at Crowell & Moring.
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Justices' Criminal Law Decisions: The Term In Review
Each of the 11 criminal decisions issued in the U.S. Supreme Court’s recently concluded term is independently important, but taken together, they reveal trends in the court’s broader approach to criminal law, presenting both pitfalls and opportunities for defendants and their counsel, says Kenneth Notter at MoloLamken.
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What's New In The AI Healthcare Regulatory Space
Attorneys at Hogan Lovells review the current legal and regulatory landscape for artificial intelligence applications in healthcare, touching on policies around safety, transparency, nondiscrimination and reimbursement, and what to expect in the future.
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Takeaways From EU's Initial Findings On Apple's App Store
A deep dive into the European Commission's recent preliminary findings that Apple's App Store rules are in breach of the Digital Markets Act reveal that enforcement of the EU's Big Tech law might go beyond the literal text of the regulation and more toward the spirit of compliance, say William Dolan and Pratik Agarwal at Rule Garza.
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Despite Calif. Delays, Climate Disclosure Rules Are Coming
Progress continues on state, federal and international climate disclosure regimes, making compliance a key concern for companies — but the timeline for implementation of California's disclosure laws remains unclear due to funding and timing disputes, says David Smith at Manatt Phelps.
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How To Comply With Chicago's New Paid Leave Ordinance
Chicago's new Paid Leave and Paid Sick and Safe Leave Ordinance went into effect earlier this month, so employers subject to the new rules should update leave policies, train supervisors and deliver notice as they seek compliance, say Alison Crane and Sarah Gasperini at Jackson Lewis.
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Cyber Incident Response Checklist For SEC Compliance
In light of recent guidance from the U.S. Securities and Exchange Commission, which clarified the distinction between two types of cybersecurity incident disclosures, companies should align their materiality assessment, incident response and disclosure control processes to bolster compliance and provide a measure of protection, say attorneys at Troutman Pepper.
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Expect CFPB To Enforce Warning Against 'Coercive' Fine Print
The recent Consumer Financial Protection Bureau warning against unenforceable terms "deceptively" slipped into the fine print of contracts will likely be challenged in court, but until then, companies should expect the agency to treat its guidance as law and must carefully scrutinize their consumer contracts, say attorneys at Ballard Spahr.
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Loss Causation Ruling Departs From Usual Securities Cases
A California federal court recently dismissed Ramos v. Comerica, finding that the allegations failed to establish loss causation, but the reasoning is in tension with the pleading-stage approaches generally followed by both courts and economists in securities fraud litigation, say Jesse Jensen and Aasiya Glover at Bernstein Litowitz.
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PAGA Reforms Encourage Proactive Employer Compliance
Recently enacted reforms to California's Private Attorneys General Act should make litigation under the law less burdensome for employers, presenting a valuable opportunity to streamline compliance and reduce litigation risks by proactively addressing many of the issues that have historically attracted PAGA claims, say attorneys at Mintz.