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Compliance
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January 02, 2025
Tesla Investors Appeal Chancery Rulings In Musk Pay Suit
Three Florida-based Tesla Inc. stockholders have moved ahead with Delaware Supreme Court appeals aimed at Court of Chancery decisions that short-circuited the electric car company's 10-year, $56 billion compensation plan for Elon Musk and granted a $345 million cash award for class attorneys who won the decision.
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January 02, 2025
Meta Seeks To Pause Social Media MDL Coverage Fight
Meta has urged a California federal court to find that its insurers cannot yet litigate to attempt to avoid covering thousands of pending lawsuits accusing the social media giant of deliberately designing its platforms to be addictive to adolescents, arguing that the coverage issues overlap with issues in the underlying cases.
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January 02, 2025
1st Private Co. Joins Insulin Price-Fixing MDL
A Florida-based car dealer is the first private company to join a multidistrict litigation accusing Novo Nordisk, Eli Lilly and Sanofi-Aventis of fixing the prices of insulin and other drugs to treat diabetes.
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January 02, 2025
Epic Tells 9th Circ. Google's Legal 'Reckoning Long Overdue'
Epic Games Inc. has slammed Google's Ninth Circuit appeal of an injunction requiring the tech giant to open up its Android Play Store to rival app distributors, defending the ruling and a jury's liability verdict and arguing that Google's appeal is a meritless attempt to avoid a "reckoning long overdue."
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January 02, 2025
Rep. Jordan Picks Wis. Lawmaker For House Antitrust Panel
Republicans are moving to install a frequent critic of President Joe Biden's Federal Trade Commission at the head of the House of Representatives' antitrust subcommittee, naming Rep. Scott Fitzgerald, R-Wis., to the post Tuesday.
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January 02, 2025
Citi Unit Fined Over Analysts Who Didn't Take FINRA Exam
Citigroup Global Markets Inc. has agreed to pay $100,000 to resolve Financial Industry Regulatory Authority claims that three of its municipal securities research analysts authored hundreds of research reports without having taken their subject area's required exam.
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January 02, 2025
Uber Can't Hold Off Seattle Driver Deactivation Law
A Washington federal judge denied Uber's bid to temporarily bar the city of Seattle from enforcing new app-based worker account deactivation rules against it, finding the day before the challenged ordinance took effect that the company is unlikely to succeed in its claims of a First Amendment violation.
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January 02, 2025
Interactive Brokers Fined $2.2M Over 'Free-Riding' Monitoring
Interactive Brokers LLC has agreed to pay $2.25 million to settle allegations from the Financial Industry Regulatory Authority that the firm failed to detect millions of so-called free-riding transactions in customers' cash accounts.
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January 02, 2025
Amazon Gets Zulily's Antitrust Suit Trimmed, For Now
A Seattle federal judge trimmed a lawsuit brought by now-defunct online retailer Zulily that accuses Amazon of using its monopoly power to shut out competition from other online retailers, tossing conspiracy and state consumer protection law claims, but allowing Zulily to rework its complaint.
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January 02, 2025
Amazon Says FTC Stalling Discovery In Prime Sign-Up Suit
Amazon said the Federal Trade Commission is stonewalling discovery efforts vital to showing that the agency knew a federal law protecting online shoppers from deceptive billing practices was vague, in an enforcement action accusing the e-commerce giant of duping customers onto signing up for Prime subscriptions.
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January 02, 2025
Tempur Sealy Ups Floor Space Promise In FTC Merger Case
Tempur Sealy is increasing its commitments to preserve floor space for rivals' mattresses in Mattress Firm stores, attempting to beat the Federal Trade Commission's merger challenge by extending the current floor space "slot" distribution after a Texas federal judge noted that prior commitments were below current allotments.
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January 02, 2025
Crypto Groups Challenge Decentralized Finance Broker Rule
Three cryptocurrency industry groups have teamed up to challenge a final U.S. Treasury Department rule implementing additional reporting requirements for decentralized finance brokers, telling a Texas federal court that the rule is unconstitutional and could destroy the industry.
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January 02, 2025
Migrant Detentions Violated NY Law, Constitution, Judge Says
A federal judge said Thursday that Suffolk County, New York, violated state law and the Fourth Amendment by detaining hundreds of immigrants past their release dates at the request of U.S. Immigration and Customs Enforcement.
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January 02, 2025
Feds Ask High Court To Unpause Corporate Transparency Law
The federal government is asking the U.S. Supreme Court to lift a Texas judge's injunction against the Corporate Transparency Act, telling the justices in a new application that the 2021 anti-money laundering law's compliance deadlines should take effect while the Fifth Circuit hears the full case.
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January 02, 2025
Crypto Scam Victim Says Fraudsters' Banks Ignore Red Flags
A California man who says he lost nearly a million dollars to a crypto "pig butchering" scam sued the alleged fraudsters and their banking partners, claiming the financial institutions ignored red flags and failed to conduct basic checks that would have revealed the scammers' actual business.
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January 02, 2025
UBS To Pay $1.1M FINRA Fine Over Trade Confirmation Flubs
UBS Financial Services has agreed to pay the Financial Industry Regulatory Authority $1.1 million to settle claims that it failed to meet regulatory requirements for trade confirmations for over a decade.
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January 02, 2025
Ga. County Sues 3M, Daikin To Remove PFAS From Landfill
A Georgia county has filed a lawsuit against 3M Co., Daikin America Inc. and several other manufacturers and users of so-called forever chemicals, alleging the sale and use of the toxic chemicals in carpet manufacturing has caused a "public-health crisis" across the northwestern part of the state.
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January 02, 2025
Mich. Judge Revives U-Visa Seekers' Suit Over Delays
Courts can't compel U.S. Citizenship and Immigration Services to issue work authorizations, but can consider the reasonableness of its processing delays, a Michigan federal judge said Thursday, reversing her dismissal of a proposed class action brought by U-visa petitioners.
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January 02, 2025
IRS, Treasury Float Regs On Excise Taxes For Drugmakers
The IRS and Treasury proposed rules for charging excise taxes to drugmakers that refuse to negotiate drug prices with Medicare under requirements of the 2022 tax and climate law, saying the tax only would apply to manufacturers and importers that initially sell the drugs.
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January 02, 2025
Trump Transition Underway At Key Environmental Agencies
President-elect Donald Trump's landing teams — tasked with aiding the upcoming transition in the White House — are busy gathering information to set the new administration on course to implement its priorities on day one.
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January 02, 2025
Terraform Founder Arraigned In NY, Denies $40B Crypto Fraud
Terraform Labs creator Do Kwon appeared Thursday before a Manhattan federal judge to deny charges that he orchestrated a $40 billion fraud on customers and investors who backed the cryptocurrency platform based on promises that it had real-world viability.
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January 02, 2025
6th Circ. Overturns FCC Net Neutrality Rules
The Sixth Circuit upended the Federal Communications Commission's net neutrality rules Thursday, holding that commercial broadband providers cannot be regulated as telecommunications common carriers.
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January 01, 2025
How Wall Street Regulators May Adapt To Trump's Return
The incoming presidency of Donald Trump is likely to upend some Biden-era policies at the U.S. Securities and Exchange Commission, leaving proposed rules on climate and artificial intelligence in the lurch while its sister agency, the U.S. Commodity Futures Trading Commission, could be given more authority over the cryptocurrency industry.
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January 01, 2025
5 Big Questions For White Collar Enforcement In 2025
White-collar lawyers are bracing for potentially seismic shifts in government enforcement as President-elect Donald Trump returns to the White House with a sweeping new set of priorities and a squadron of tech gurus and political allies to carry them out.
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January 01, 2025
The Top 5 High Court Cases To Watch This Spring
The U.S. Supreme Court justices will return from the winter holidays to tackle major First Amendment questions and several administrative law disputes — all arising from the Fifth Circuit — that could further change how federal agencies promulgate rules and defend them.
Expert Analysis
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Think Like A Lawyer: 1 Type Of Case Complexity Stands Out
In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.
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Why State Captive Audience Laws Matter After NLRB Decision
As employers focus on complying with the National Labor Relations Board's new position that captive audience meetings violate federal labor law, they should also be careful not to overlook state captive audience laws that prohibit additional types of company meetings and communications, says Karla Grossenbacher at Seyfarth.
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What Bisphenol S Prop 65 Listing Will Mean For Industry
The imminent addition of bisphenol S — a chemical used in millions of products — to California's Proposition 65 list will have sweeping compliance and litigation implications for companies in the retail, food and beverage, paper, manufacturing and personal care product industries, say attorneys at Alston & Bird.
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SEC Custody Rule Creates Crypto Compliance Conundrum
While the U.S. Securities and Exchange Commission's application of the custody rule may be a good faith attempt to enhance consumer protections for client assets, it doesn't appreciate the unique characteristics of crypto-assets, forcing advisers to choose between pursuing their clients' objectives and complying with the rule, say attorneys at Willkie.
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Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity
Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.
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Tracking The Uncertainty Of The FTC's Negative Option Rule
The fate of the Federal Trade Commission's final rule requiring businesses that utilize negative options to provide consumers with a simple cancellation method remains in limbo as it faces multiple legal challenges and the threat of possible congressional action looms, say attorneys at Manatt.
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Corporate Liability Issues To Watch In High Court TM Case
The U.S. Supreme Court will hear arguments in a trademark dispute between Dewberry Group and Dewberry Engineers next week, presenting an opportunity for the court to drastically alter the fundamental approach to piercing the corporate veil, or adopt a more limited approach and preserve existing norms, say attorneys at Bracewell.
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Plugging Gov't Leaks Is Challenging, But Not A Pipe Dream
As shown by ongoing legal battles involving New York City Mayor Eric Adams and Sean “Diddy” Combs, it’s challenging for defendants to obtain relief when they believe the government leaked sensitive information to the media, but defense counsel can take certain steps to mitigate the harm, says Kenneth Notter at MoloLamken.
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Rethinking Clawback Policies For 2025 Compensation Season
The start of a new year presents an opportunity for companies to reassess their executive compensation clawback policies, and while mandatory Dodd-Frank clawbacks are necessary, discretionary policies can offer companies greater flexibility to address misconduct, protect their reputations and align with shareholder priorities, say attorneys at Debevoise.
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Series
Gardening Makes Me A Better Lawyer
Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.
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Federal Embrace Of Crypto Regs Won't Lower State Hurdles
Even if the incoming presidential administration and next Congress focus on creating clearer federal regulatory frameworks for the cryptocurrency sector, companies bringing digital asset products and services to the market will still face significant state-level barriers, say attorneys at Mayer Brown.
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SEC Prioritized Enforcement Sweeps As Cases Slowed In '24
Following three consecutive years of increasing activity, fiscal year 2024 marked the lowest number of cases the U.S. Securities and Exchange Commission has brought since Gary Gensler assumed office in April 2021, buttressed by some familiar enforcement sweeps, say attorneys at Covington.
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Litigation Inspiration: Reframing Document Review
For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.
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2 Cases Show DAOs May Face Increasing Legal Scrutiny
Two ongoing cases that recently survived motions to dismiss in California federal courts concerning Compound DAO and Lido DAO threaten to expand the potential liability for activity attributed to decentralized autonomous organizations — and to indirectly create liability for their participants, say attorneys at Cahill Gordon.
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The Fashion Industry Should Prep Now For State PFAS Bans
New York and California have each passed legislation regulating PFAS in apparel and other textiles, so retailers should consult with manufacturers and suppliers and obtain the requisite certification documents as soon as possible to avoid disruptions in supply chains, say attorneys at Venable.