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Compliance
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March 06, 2025
FTC Challenges PE Firm's Medical Device Coatings Deal
The Federal Trade Commission moved Thursday to block private equity firm GTCR BC Holdings LLC's planned $627 million acquisition of Surmodics Inc. over concerns about competition for medical device coatings.
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March 06, 2025
Dems Tell DOJ Musk May Be Strong-Arming X Advertisers
Democratic lawmakers led by Sens. Elizabeth Warren, D-Mass., and Cory Booker, D-N.J., have warned the U.S. Department of Justice and the Federal Trade Commission that billionaire Elon Musk might be using his position in the Trump administration to bully companies that advertise on his social media platform, X.
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March 06, 2025
Top Groups Lobbying The FCC
The Federal Communications Commission heard from advocates more than 50 times in February about their priorities, including opening valuable airwaves for 5G, clearing hurdles to rural broadband, and pushing T-Mobile's $4.4 billion deal to take over UScellular's wireless operations.
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March 06, 2025
Insurers Seek Toss Of Meta's Social Media MDL Coverage Suit
A group of insurers urged a California federal court to either toss or stay Meta's suit seeking to pause all coverage litigation regarding underlying claims that the company deliberately designed its platforms to be addictive to adolescents, saying the first-to-file rule applies to the carriers' Delaware state court suit.
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March 06, 2025
As FDIC Walks Back Biden-Era Policies, Bank Groups Applaud
The financial services industry has welcomed the Federal Deposit Insurance Corp.'s recent moves withdrawing various rule proposals from the Biden administration, delaying the compliance deadline for another measure and proposing to rescind a policy statement on bank mergers.
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March 06, 2025
Senate Dems Press Citibank To Thaw Frozen EPA Grant Funds
A group of Democratic U.S. senators on Thursday urged Citibank to immediately release federal funding that's been frozen as the U.S. Environmental Protection Agency investigates how a climate change grant program was run.
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March 06, 2025
Trump FCPA Freeze Puts Coal Exec Bribery Case On Hold
A coal company executive who was set to go to trial next month on bribery and money laundering charges had his case paused by a Pennsylvania federal judge Thursday, after President Donald Trump signed an executive order in February that froze enforcement of the Foreign Corrupt Practices Act.
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March 06, 2025
Trump Policy Uncertainty Bringing 'Pause' In M&A: Tulane Panel
Despite high expectations for a dealmaking resurgence under President Donald Trump's second administration, the anticipated boom in major transactions has yet to materialize, mergers and acquisitions attorneys said during a panel discussion at the annual Tulane Corporate Law Institute on Thursday.
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March 06, 2025
Apple Tells DC Circ. Google Search Fixes Change Incentives
Apple has told the D.C. Circuit that it did not know the U.S. Department of Justice would go as far as it did with its proposed fixes in the Google search antitrust case, and it moved to intervene as soon as it became clear the two companies have opposing interests under the government's proposal.
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March 06, 2025
Perkins Coie Targeted By Trump For DEI Efforts, Clinton Work
Perkins Coie LLP is the latest law firm to face the ire of President Donald Trump, with Trump ordering on Thursday the immediate suspension of the firm's security clearances over its diverse hiring efforts and its representation of certain political figures, including former presidential candidate Hillary Clinton.
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March 06, 2025
Citi's Appeal Gamble Is A Loser For All, NYAG Says
New York's attorney general has urged a Manhattan federal judge to deny Citibank's bid to appeal the judge's decision allowing the state's wire fraud protection case against the bank to proceed, arguing that an immediate appeal would not benefit any party, even the bank.
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March 06, 2025
NJ Judge Open To FCPA Trial Delay, But Unsure How Long
A federal judge said Thursday that he is inclined to allow the new Trump-appointed U.S. attorney for New Jersey some time to review the long-running criminal case against two ex-Cognizant Technology Solutions Corp. executives before going to trial, but ordered both sides to file detailed briefs by Monday to help him determine just how much time.
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March 06, 2025
States Say Teacher Training Grants Are Caught In DEI Dragnet
A group of eight states sued the U.S. Department of Education in Massachusetts federal court Thursday, seeking reinstatement of $600 million in teacher training and placement grants they say were unlawfully targeted by the Trump administration as diversity initiatives.
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March 06, 2025
Ex-Credit Suisse Banker Avoids Prison In 'Tuna Bond' Fraud
A Brooklyn federal judge spared a former Credit Suisse banker from prison time Thursday, after he pled guilty and became a testifying government cooperator over a plot to defraud investors in a $2 billion state-backed development initiative in Mozambique.
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March 06, 2025
UK Authorities Clear Amex GBT's $570M CWT Buy
United Kingdom antitrust authorities gave the formal all-clear Thursday to American Express Global Business Travel Inc.'s planned $570 million purchase of CWT Holdings LLC, leaving a Justice Department lawsuit the only hurdle remaining for the corporate travel management services merger.
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March 06, 2025
Senate Panel Backs McKernan For CFPB, 3 Other Trump Picks
A U.S. Senate panel on Thursday advanced President Donald Trump's nomination of Jonathan McKernan to head the Consumer Financial Protection Bureau, setting him up for likely confirmation to the beleaguered agency.
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March 06, 2025
DC Judge Won't Block USAID From Firing Contractors
A D.C. federal judge on Thursday declined to temporarily block the termination of personal services contractors working for the U.S. Agency for International Development, concluding their challenge to the dismantling of the agency is likely ill-suited for federal court.
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March 05, 2025
SpaceX Fails To Get 5th Circ. To Block NLRB Case
The Fifth Circuit on Wednesday dismissed SpaceX's appellate court bid to stop a National Labor Relations Board administrative proceeding alleging it unlawfully fired employees who criticized company CEO Elon Musk, saying the circuit court lacked jurisdiction since a lower court didn't first deny SpaceX's injunctive relief request.
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March 05, 2025
DOGE Firings, Agency Cuts Targeted In New Sierra Club Suit
The Sierra Club and Union of Concerned Scientists were among several groups that lobbed a new suit against Elon Musk and the Department of Government Efficiency on Wednesday, slamming the billionaire and DOGE for the "lawless" slashing of funds and federal workers.
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March 05, 2025
Utah Poised To Be 1st To Require App Stores To Verify Ages
Utah lawmakers on Wednesday sent to the governor's desk first-of-its-kind legislation that would require app stores such as the ones operated by Apple and Google to verify users' ages and block those who are under 18 from downloading apps or making in-app purchases without parental consent.
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March 05, 2025
DC Circ. Lets Trump Remove Watchdog Chief As Feds Appeal
The D.C. Circuit on Wednesday issued a stay that allows President Donald Trump to fire the head of the Office of Special Counsel while the government appeals a district court order that permanently reinstalled the federal employment watchdog.
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March 05, 2025
Wyo. Firm's 'Classic' Ponzi Scheme Made $92M, Investors Say
A group of would-be investors has filed suit against a purported investment management company and associated entities and individuals, alleging they were taken in by a "classic Ponzi scheme" that raked in at least $92 million from its victims.
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March 05, 2025
NJ US Atty Says FCPA Case Delay Pauses Speedy Trial Clock
The adjournment of the government's Foreign Corrupt Practices Act case against two former Cognizant Technology Solutions Corp. executives should stop the Speedy Trial Act clock because the case needs a "fulsome review" in light of the pause in FCPA enforcement, New Jersey's freshly minted top federal prosecutor told a judge Wednesday.
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March 05, 2025
MSPB Temporarily Reinstates Fired Agriculture Dept. Workers
The Merit Systems Protection Board stayed the firings of over 5,600 probationary employees of the U.S. Department of Agriculture on Wednesday, ordering the employees back to work while the U.S. Office of the Special Counsel continues investigating whether the dismissals were a prohibited personnel practice.
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March 05, 2025
Contractors Claim Constitutional Injury In USAID Cuts
A group representing U.S. citizen personal services contractors working for the U.S. Agency for International Development insisted before a D.C. federal judge on Wednesday that their challenge to the Trump administration's dismantling of the humanitarian agency differs from another brought by workers employed directly by USAID.
Expert Analysis
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How EEOC Enforcement Priorities May Change Under Trump
The U.S. Equal Employment Opportunity Commission has already been rocked by the Trump administration's dramatic changes in personnel and policy, which calls into question how the agency may shift its direction from the priorities set forth in its five-year strategic enforcement plan in 2023, say attorneys at Seyfarth.
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New Fla. Financial Abuse Law May See Limited Buy-In
Florida's newly effective financial protection law comes with compliance burdens and uncertainties that could discourage financial institutions from participating, even though the law aims to shield them from liability for delaying transactions when they suspect exploitation of elderly and vulnerable account holders, say attorneys at Shutts & Bowen.
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Why Acquirers Should Reevaluate Federal Contract Risk
Long thought of as a stable investment, the scale with which the Trump administration is attempting to eliminate federal contracts is unprecedented, and acquirer considerations should include the size and scope of all active and pending government contracts of target companies, say attorneys at Winston & Strawn.
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Navigating The Uncertain Future Of The Superfund PFAS Rule
The D.C. Circuit's recent grant of a pause in litigation while the U.S. Environmental Protection Agency reviews the Biden-era designation of two per- and polyfluoroalkyl substances as "hazardous" under the Superfund law creates new uncertainty for companies — but more lawsuits are likely as long as the rule remains in effect, say attorneys at Alston & Bird.
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Opinion
SEC Defense Bar Should Pursue Sanctions Flexibility Now
The U.S. Securities and Exchange Commission defense bar has an opening under the new administration to propose flexible, tailored sanctions that can substantially remediate misconduct and prevent future wrongdoing instead of onerous penalties, which could set sanctions precedent for years to come, says Josh Hess at BCLP.
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What To Know About Insurance Coverage For Greenwashing
As the number of public and private lawsuits relating to greenwashing dramatically grows, risk managers of companies making environmental claims should look to several types of insurance for coverage in the event of a suit, say attorneys at Hunton.
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7 Tips For Associates To Thrive In Hybrid Work Environments
Excerpt from Practical Guidance
As the vast majority of law firms have embraced some type of hybrid work policy, associates should consider a few strategies to get the most out of both their in-person and remote workdays, says James Argionis at Cozen O’Connor.
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Series
Playing Beach Volleyball Makes Me A Better Lawyer
My commitment to beach volleyball has become integral to my performance as an attorney, with the sport continually reminding me that teamwork, perseverance, professionalism and stress management are essential to both undertakings, says Amy Drushal at Trenam.
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Considering The Future Of AI Regulation On Health Sector
As Texas looks to become the next state to pass a comprehensive law regulating artificial intelligence, the healthcare industry should consider how AI regulation will continue to evolve in the U.S. and how industry members can keep up with compliance considerations, say attorneys at Kirkland & Ellis.
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30 Years Later: How PSLRA Has Improved Securities Litigation
In the 30 years since the Private Securities Litigation Reform Act's passage, the statute has achieved its purpose of shifting securities class actions to investors most capable of monitoring the litigation, selecting competent counsel at competitive rates and maximizing recoveries for the investor classes they represent, say attorneys at Bernstein Litowitz.
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How Banks Can Prepare For NYDFS Overdraft Overhaul
The New York State Department of Financial Services' recent proposal to amend overdraft rules for financial institutions underscores states' potential to create consumer protection mechanisms in the absence of meaningful federal action, say attorneys at Steptoe.
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Terraform Case May Be Bellwether For Crypto Enforcement
The prosecution of crypto company Terraform Labs and its CEO, Do Kwon, offers a unique test of the line between lawful and unlawful conduct in digital transactions, and the Trump administration’s posture toward the case will provide clues about its cryptocurrency enforcement agenda in the years to come, say attorneys at Brooks Pierce.
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Contractor Liability When Directing Subcontractor Workforce
A recent Virginia Court of Appeals decision that rejected a subcontractor employee’s tortious interference claim should prompt prime contractors to consider how to mitigate liability risk associated with directing a subcontractor to remove its employee from a federal project, say attorneys at Venable.
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What's Next For Russia Sanctions After Task Force Disbanded
Attorney General Pam Bondi’s recent disbanding of Task Force KleptoCapture, which was initially aimed at seizing Russian oligarchs’ funds and assets, is unlikely to mean the end of Russia sanctions enforcement and other economic countermeasures, as the architecture for criminal enforcement remains in place, say attorneys at BakerHostetler.
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Texas Banking Dept. Memo Demystifies Crypto Classifications
A recent memorandum from the Texas Department of Banking provides clarity with respect to the classification of both stablecoins and nonstablecoin virtual currencies under the state's Money Services Modernization Act, flagging for firms that stablecoins may be scrutinized more closely as money transmission, say attorneys at Lowenstein Sandler.