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Compliance
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February 21, 2025
FINRA Fines Merrill Lynch Over Early Sales Of IPO Shares
Merrill Lynch will pay a $275,000 fine to settle the Financial Industry Regulatory Authority claim that, for nearly three years, the firm accepted purchase orders for shares of newly issued stock prior to the opening of secondary market trading in those shares.
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February 21, 2025
Trump, NLRB Chairman Defend Wilcox's Removal As Lawful
President Donald Trump told a D.C. federal judge Friday that former National Labor Relations Board member Gwynne Wilcox should not be reinstated, laying out his arguments for why a 90-year-old U.S. Supreme Court opinion does not apply to board members.
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February 21, 2025
Eli Lilly Has Exclusivity Over Weight Loss Drug, FDA Says
The U.S. Food and Drug Administration asked a Texas federal court to reject a request for an injunction that would allow compounding pharmacies to produce a lucrative weight loss drug, saying the agency based its decision on sound facts and it was within its authority.
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February 21, 2025
Watchdog Says DOL Struggles To Enforce Mental Health Law
Workers with mental health conditions and substance use disorders are at higher risk of not receiving treatment or having to pay out of pocket for care that should be covered because of the U.S. Department of Labor's limited ability to enforce federal mental health parity laws, an agency watchdog said Friday.
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February 21, 2025
Mich. Pot Cos. Say Grand Rapids' Equity Fees Are Illegal
A group of cannabis companies is suing the city of Grand Rapids in Michigan state court, saying it is illegally charging them millions in fees through its social equity program.
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February 21, 2025
Judge Questions Trump Administration Fund Freeze Authority
A Rhode Island federal judge on Friday left in place a temporary restraining order blocking a funding freeze by President Donald Trump's administration until the judge can rule on a request by a coalition of states for a preliminary injunction.
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February 21, 2025
CFPB's $8 Late Fee Rule On Ropes As Banks Move In For Kill
The U.S. Chamber of Commerce and other trade groups have urged a Texas federal judge to strike down the Consumer Financial Protection Bureau's $8 credit card late fee rule once and for all, saying, among other things, that the CFPB is itself a "veritable issue-spotter of constitutional law violations."
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February 21, 2025
Va. Judge Won't Bar DOGE Access To Treasury, OPM Data
A Virginia federal judge on Friday rejected a data privacy watchdog's bid for a preliminary injunction blocking Elon Musk's Department of Government Efficiency from accessing data systems housed in the U.S. Department of the Treasury and the U.S. Office of Personnel Management.
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February 21, 2025
Justices Leave Fired Special Counsel In Office For Now
The U.S. Supreme Court on Friday declined to weigh in on the validity of a temporary court order reinstating a fired federal employment watchdog who claims President Donald Trump lacks the authority to remove him from office without cause, punting on the administration's first attempt to wipe out protections for top officials at independent agencies.
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February 21, 2025
Swizz Beatz Says Suit Over 1MDB Funds Is Time-Barred
Hip-hop artist Swizz Beatz has told a Manhattan federal judge that a suit claiming he received millions of dollars that were stolen in the 1Malaysia Development Berhad fraud scandal should be tossed since it was brought after the six-year statute of limitations.
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February 21, 2025
Solar Farm Says FERC Can't Justify Grid Upgrade Cost Order
Developers of a Texas solar farm told the D.C. Circuit that the Federal Energy Regulatory Commission acted unlawfully by allowing a transmission operator to assign them $311 million in grid upgrade costs to connect their solar project to the grid.
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February 21, 2025
Ga. Provider Bashes FCC Over Subsidy Verification Rules
A Georgia-based phone and internet provider is appealing a $429,000 recovery order from the Federal Communications Commission's Wireline Competition Bureau over the company's alleged failure to verify subscribers qualified for pandemic-era subsidies, arguing that it is being punished for using the eligibility verification system that the commission itself requires them to use.
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February 21, 2025
Nuke Plant Renewal Rules Ignore Climate Risks, DC Circ. Told
Anti-nuclear power groups told the D.C. Circuit that the U.S. Nuclear Regulatory Commission unlawfully ignored accident risks due to aging equipment and climate change when it crafted new nuclear power plant license renewal rules.
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February 21, 2025
Steel, Aluminum Tariffs May Throw Wrench Into Future Deals
President Donald Trump's targeted tariffs on steel and aluminum imports could assist in his goal of reshoring more production to the U.S., but the elimination of agreements he reached during his first term may undermine the ability to strike new trade agreements — while also spurring historic price hikes.
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February 21, 2025
WilmerHale Corporate Ace Joins DLA Piper In California
DLA Piper has added a former WilmerHale attorney to strengthen its corporate practice, including bolstering its service to clients in the life sciences and healthcare industries.
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February 21, 2025
GC Cheat Sheet: The Hottest Corporate News Of The Week
Experts say the new U.S. guidelines on enforcing the Foreign Corrupt Practices Act could open the door for American companies to pay business bribes overseas. And a new survey shows adoption of AI by lawyers has nearly doubled in the past year. These are some of the stories in corporate legal news you may have missed in the past week.
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February 21, 2025
1st Circ. Revives Clean Air Claims Over Idling Shuttle Buses
Excessive exhaust fumes and concerns about the negative health effects of pollution from idling buses are injuries in fact that can establish standing for members of an environmental advocacy group to sue over violations of the Clean Air Act, the First Circuit said on Thursday, reviving a 5-year-old lawsuit.
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February 21, 2025
Ex-Cognizant Execs Balk At Wording Of Trial Date Draft Order
Attorneys for two former executives of Cognizant Technology Solutions Corp. told a New Jersey federal judge on Friday that they object to the government's wording of a proposed order for proceeding with their Foreign Corrupt Practices Act trial on March 3.
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February 21, 2025
Coinbase Says SEC Will Drop Suit Amid Crypto Policy Shift
Coinbase said Friday the U.S. Securities and Exchange Commission has committed to dropping its enforcement action against the crypto exchange, a move that would see the regulator walk away from one of its flagship crypto suits amid a wider policy shift under the Trump administration.
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February 21, 2025
High Court Finds FCC's E-Rate Subject To False Claims Act
The U.S. Supreme Court ruled unanimously Friday that telecoms participating in the federal E-Rate program supporting school and library connectivity can be sued for excess payouts under the False Claims Act because the subsidy's funds are provided through the U.S. Treasury.
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February 20, 2025
DOJ Says Job Protections For ALJs Are Unconstitutional
The U.S. Department of Justice announced Thursday that it no longer backs long-standing job protections for administrative law judges, saying it has determined that the "multiple layers of removal restrictions" shielding ALJs are unconstitutional because they violate the separation of powers doctrine.
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February 20, 2025
Trump Admin Must Obey Order To Restore Aid, Judge Says
A Washington, D.C., federal judge on Thursday ordered the Trump administration to restore foreign assistance funding in accordance with his temporary restraining order, but stopped short of sanctioning the government officials.
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February 20, 2025
Landmark AI Legislation On Kids, Bias Introduced In Calif.
A California lawmaker Thursday unveiled first-of-its-kind legislation aimed at protecting children from safety and privacy risks associated with artificial intelligence as well as a revised version of a bill addressing bias by AI tools.
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February 20, 2025
Florida Hits Target With New Suit Over Pride Month Merch
The state of Florida's investment management body Thursday became the latest to sue Target Corp. over its Pride-themed merchandise, saying the retail giant "betrayed" investors with its "exceptionally offensive" LGBTQ marketing campaign and product lines.
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February 20, 2025
Calif. Privacy Agency Takes Regulatory Aim At 6th Data Broker
The California Privacy Protection Agency continued to keep the heat on data brokers Thursday, announcing that it's pursuing a monetary penalty against a Florida-based company that allegedly failed to comply with the registration requirements of a groundbreaking state data deletion law.
Expert Analysis
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US-China Deal Considerations Amid Cross-Border Uncertainty
With China seemingly set to respond to the incoming U.S. administration's call for strategic decoupling and tariffs, companies on both sides of the Pacific should explore deals and internal changes to mitigate risks and overcome hurdles to their strategic plans, say attorneys at Covington.
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Series
Playing Rugby Makes Me A Better Lawyer
My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.
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How 2025 NDAA May Affect DOD Procurement Protests
A bid protest pilot program included in the 2025 National Defense Authorization Act shifts litigation costs onto unsuccessful bid protesters and raises claim-filing thresholds, which could increase risks to U.S. Department of Defense contractors who file protests, and reduce oversight of DOD procurement awards, say attorneys at Venable.
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Looking Back At 2024's Noteworthy State AG Litigation
State attorneys general across the U.S. took bold steps in 2024 to address unlawful activities by corporations in several areas, including privacy and data security, financial transparency, children's internet safety, and other overall consumer protection claims, say attorneys at Troutman Pepper.
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What Broker-Dealers Must Know Before Selling Bitcoin ETPs
Interest in bitcoin exchange-traded products is already high, and only expected to grow in light of the incoming Trump administration's pro-crypto stance, but broker-dealers must still consider numerous regulatory requirements before recommending a bitcoin ETP to a client, say Frank Weigand and Justine Woods at Cahill Gordon.
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Updated FWS Regs Will Streamline Right-Of-Way Permitting
Although the U.S. Fish and Wildlife Service's final rule covering rights-of-way across lands administered by the service will bring increased up-front fees and stricter permit terms and conditions, it also provides a clearer application process and should reduce permitting delays and total costs, say attorneys at Holland & Hart.
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Cyber Disclosure Is A Mainstay In 2025 SEC Exam Priorities
Despite a new administration and a new U.S. Securities and Exchange Commission chair incoming, the SEC's 2025 examination priorities signal that cybersecurity disclosures and risk management practices will remain important due to the growing threat of cyberattacks, says Anjali Das at Wilson Elser.
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Reviewing 2024's Evolving EdTech Privacy Regulations
Lawmakers are trying to keep up with the privacy and security risks of the increasingly prevalent education technology, with last year's developments including the Federal Trade Commission's proposed amendments to the Children's Online Privacy Protection Act, and the U.S. Senate passing two new children's privacy acts, say attorneys at McDermott.
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Nippon, US Steel Face Long Odds On Merger Challenge
Following the Committee on Foreign Investment in the United States' review of Japan's Nippon Steel's proposed acquisition of U.S. Steel, the companies face a formidable uphill battle in challenging the president's exercise of authority to block the deal on national security grounds, say attorneys at Kirkland.
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Opinion
No, Litigation Funders Are Not 'Fleeing' The District Of Del.
A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.
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The Compliance Trends And Imperatives On Tap In 2025
The corporate ethics and compliance landscape is rapidly evolving, posing challenges from conflicting stakeholder expectations to technological disruptions, and businesses will need to explore human-centered, data-driven and evidence-based practices, says Hui Chen at CDE Advisors.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q4
Douglas Thompson at Snell & Wilmer highlights a number of recent and pending issues, actions and potentially pivotal federal regulatory and legislative developments on deck that will affect California banks and financial institutions.
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Hydrogen Regs Will Provide More Certainty — If They Survive
Newly finalized regulations implementing the Section 45V clean hydrogen tax credit allow producers more flexibility, and should therefore help put the industry on more solid footing — but the incoming Trump administration and Republican Congress will have multiple options for overturning or altering the regulations, say attorneys at Steptoe.
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Top 10 Noncompete Developments Of 2024
Following an eventful year in noncompete law at both state and federal levels, employers can no longer rely on a court's willingness to blue-pencil overbroad agreements and are proceeding at their own peril if they do not thoughtfully review and carefully enforce such agreements, say attorneys at Faegre Drinker.
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5 E-Discovery Predictions For 2025 And Beyond
In the year to come, e-discovery will be shaped by new and emerging trends, from the adoption of artificial intelligence provisions in protective orders, to the proliferation of emojis as a source of evidence in contemporary litigation, say attorneys at Littler.