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Compliance
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December 20, 2024
Top North Carolina Cases Of 2024: Bias, Fraud And False Ads
North Carolina saw a host of heavy-hitting civil trials in 2024, from back-to-back multimillion-dollar jury verdicts in suits over false advertising and employment discrimination, to a substantial bench ruling in a much-watched bias suit against the federal judiciary.
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December 20, 2024
Watershed NCAA, UFC Settlements Highlight 2024's 2nd Half
The second half of 2024 saw the sunset of several yearslong lawsuits that will significantly impact the world of sports, including the settlement of the NCAA's name, image and likeness antitrust litigation and the closing of the UFC's legal battle with current and former fighters. Here, Law360 explores the top sports and betting moments from the second half of 2024.
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December 19, 2024
Uber Sues Seattle Over Courier Account Deactivation Law
A Seattle ordinance aimed at preventing app-based workers from being unfairly deactivated from apps they use poses "grave constitutional problems," Uber alleged in a suit filed Wednesday in Washington federal court, saying the local law forces the transportation company to express views inconsistent with how it approaches privacy and safety.
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December 19, 2024
Aviation Co. AAR To Pay $55M Over Alleged Bribery Schemes
AAR Corp. has agreed to shell out $55 million to resolve allegations from both the U.S. Securities and Exchange Commission and U.S. Department of Justice that the aviation services provider bribed government officials in Nepal and South Africa, the agencies announced Thursday.
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December 19, 2024
Atkins-Tied Crypto Group Lays Out Its Priorities For New SEC
Crypto industry group The Digital Chamber, which counts U.S. Securities and Exchange Commission chair nominee Paul Atkins as an advisory board member, has urged the Wall Street regulator to "reset its historically troubled relationship" with the crypto industry by rolling back certain rule proposals and resolving non-fraud suits against crypto firms soon after President-elect Donald Trump takes office next year.
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December 19, 2024
Ex-Biopharma Exec Settles SEC Insider Trading Claim
A former biopharmaceutical executive will pay nearly $156,000 to end U.S. Securities and Exchange Commission claims that he bought up shares of his employer's acquisition target and the target's shareholder ahead of the announcement of the acquisition.
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December 19, 2024
CFTC Urges 7th Circ. To Uphold $231M Crypto 'Ponzi' Penalty
The U.S. Commodity Futures Trading Commission has urged the Seventh Circuit to uphold a $231.5 million judgment against a man they say ran a cryptocurrency Ponzi scheme, arguing it is "undisputed" that the agency has authority to regulate the trading of bitcoin and ether.
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December 19, 2024
PhRMA Wins Bid To Halt W.Va. Drug Discount Expansion Law
The country's biggest pharmaceutical lobbying group has won preliminary injunctions against a West Virginia law that the Pharmaceutical Research and Manufacturers of America claims unconstitutionally expands a federal drug discount program, with a federal judge finding that the law threatens to create a situation where "the fox guards the henhouse."
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December 19, 2024
FTC Says PBMs Can't Get Preliminary Block In Insulin Case
The Federal Trade Commission urged a Missouri federal judge Thursday not to temporarily block its in-house case accusing pharmacy benefits managers of artificially inflating insulin prices through unfair rebate schemes, arguing Congress clearly empowered such in-house adjudications and the officials who handle them.
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December 19, 2024
Bank Groups Seek Halt Of CFPB's $5 Overdraft Fee Rule
Bank groups have asked a Mississippi federal judge to put an interim hold on the Consumer Financial Protection Bureau's new rule establishing a $5 overdraft fee cap at larger banks and credit unions, arguing that the agency is trying to unwind more than a half-century of regulatory interpretation at a great potential cost to the industry.
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December 19, 2024
New Jersey AG Can Run Paterson Police Dept. During Appeal
The day after a New Jersey appellate panel ruled that state Attorney General Matthew J. Platkin's takeover of a Garden State police department was unlawful, state Supreme Court Chief Justice Stuart J. Rabner granted the prosecutor's bid to stay the decision temporarily and directed the parties to file briefs.
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December 19, 2024
FERC Chair Plays Coy On Impact Of LNG Export Study
Willie Phillips, chairman of the Federal Energy Regulatory Commission, wouldn't say on Thursday how the agency would incorporate a recently released federal study on the economic and environmental effects of liquefied natural gas exports into its reviews of proposed export terminals, and cited limits on FERC's authority.
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December 19, 2024
UBS Unit To Pay $3.5M Over FINRA Preferred Stock Claims
The brokerage unit of UBS has agreed to pay nearly $3.5 million to settle the Financial Industry Regulatory Authority's allegations that it did not have the proper supervisory system to catch unsuitable recommendations for short-term trades of syndicate preferred stocks.
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December 19, 2024
Juice Co. Pres. Supplied Tainted Drink To Low-Income Students
A Washington-based fruit juice company executive pled guilty to charges related to selling tainted juice — some of which found its way into free or low cost lunches provided to students from low-income households — federal prosecutors announced on Thursday along with her nearly $750,000 penalty.
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December 19, 2024
McKesson Urges Justices To Keep Hobbs Act's 'Exclusivity'
McKesson Corp. is urging the U.S. Supreme Court to preserve circuit courts' "exclusive" jurisdiction for Federal Communications Commission orders, warning that regulatory consistency nationwide could be undermined if lower courts are allowed to step in.
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December 19, 2024
Fed, OCC 'Asleep At Wheel' On Merger Policy, Warren Says
Sen. Elizabeth Warren on Wednesday accused top federal bank regulators of blowing off calls for tougher merger scrutiny and leaving the financial system exposed to dangerous megadeals, blasting them as "asleep at the wheel" as the Capital One-Discover merger inched closer to approval.
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December 19, 2024
Generic-Drug Cos. Get State AGs' Trial Order Flipped
A Connecticut federal court has sided with the generic-drug makers accused of price-fixing by state-level enforcers and will allow a narrower case involving 15 drugs to move ahead prior to a much broader case involving more than 100 medications.
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December 19, 2024
CMA Issues Guidance For New Digital Competition Rules
Britain's Competition and Markets Authority released guidance Thursday laying out how the agency intends to use its new powers to impose rules and obligations on large technology companies, ahead of the regime's launch next year.
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December 19, 2024
Ex-AT&T Exec Gets New Bribery Trial Date After Jury Deadlock
The former head of AT&T's Illinois division, who is accused of bribing ex-Illinois House Speaker Michael Madigan, will be tried again in June after his case resulted in a hung jury earlier this year, a federal court judge said Thursday.
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December 19, 2024
EU Opens In-Depth Probe Of Liberty's $3.6B MotoGP Deal
European antitrust regulators are investigating Liberty Media's proposed acquisition of Dorna Sports, citing concerns that the €3.5 billion deal could harm competition in motorsports broadcasting and drive up licensing costs.
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December 19, 2024
Casinos Say DOJ Has No 'Starting Point' For Room Rates
Las Vegas casino hotels urged the Ninth Circuit on Wednesday not to revive the first algorithmic price-fixing case to reach an appeals court, in a brief that took direct aim at the Justice Department's amicus intervention in the room rate lawsuit.
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December 19, 2024
Michigan's Biggest Decisions Of 2024
This year, the Michigan Supreme Court instituted sweeping changes to the state's wage and paid leave laws, took some damages off the table for wrongful death plaintiffs, and recognized third-party retaliation claims.
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December 19, 2024
Denmark Says $500M Recovered In Dividend Tax Fraud Suits
Denmark's tax administration has recovered a total of 3.6 billion Danish kroner ($500 million) in money lost to suspected dividend tax refund fraud after entering settlements of civil cases in several countries in 2024, Denmark's tax minister announced.
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December 19, 2024
Chemours, DuPont Say New Info Undermines Class Cert.
The Chemours Co. FC LLC and EIDP Inc. are asking a North Carolina federal judge to decertify classes in a consolidated suit alleging that they knew about PFAS leaks into their water systems, saying information that's come to light since the certification disqualifies the named plaintiffs from representing the class and undermines the alleged common proof of their claims.
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December 19, 2024
Tencent Removes 2 Epic Directors Following DOJ Scrutiny
Two Epic Games directors appointed by Tencent Holdings are stepping down from Epic's board after the U.S. Department of Justice said their positions could constitute antitrust law violations, the agency has announced.
Expert Analysis
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Series
Fixing Up Cars Makes Me A Better Lawyer
From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.
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2024 Has Been A Momentous Year For ESG
Significant developments in the environmental, social and governance landscape this year include new legislation, evolving global frameworks, continued litigation and enforcement actions, and a U.S. Supreme Court decision that has already affected how lower courts have viewed some ESG challenges, say attorneys at Katten.
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Opinion
A New Tax On Employers Could Help Curb Illegal Immigration
To better enforce the law against hiring immigrants unauthorized to work in the U.S., Congress should enact a punitive excise tax on compensation paid to such immigrants and amend the False Claims Act to allow qui tam actions against employers for failure to pay such tax, says Ajay Gupta at Moore Tax Law Group.
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Advancing Storage-Integrated Power Generation In Turkey
Recent proposals by energy regulators in Turkey have laid the groundwork for further development of electricity generation plants with integrated energy storage facilities — offering opportunities for project developers and investors, and a possible model for U.S. regulators, say attorneys at Norton Rose.
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2024's Most Notable FTC Actions Against Dark Patterns And AI
In 2024 the Federal Trade Commission ramped up enforcement actions related to dark patterns, loudly signaling its concern that advertisers will use AI to manipulate consumer habits and its intention to curb businesses' use and marketing of AI to prevent alleged consumer deception, say attorneys at Goodwin.
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Making The Pitch To Grow Your Company's Legal Team
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.
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The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025
U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.
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Musk Pay Fight Shows Investor Approval Isn't Universal Cure
The Delaware Court of Chancery's recent denial of a motion revising its prior rescission of Elon Musk's nearly $56 billion compensation package is a reminder of the heightened standard corporate boards must meet in conflicted controller transactions and that stockholder approval doesn't automatically cure fiduciary wrongdoing, say attorneys at A&O Shearman.
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Considering European-Style Lockboxes For US M&A In 2025
The lockbox mechanism, commonly used in Europe, offers an attractive alternative to the postclosing price adjustments that dominate U.S. merger and acquisition transactions in private equity, particularly with the market's demand for transparency likely to remain steadfast under Trump, says Laurent Campo at Potomac Law.
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Compliance Lessons From Raytheon's FCPA Settlement
A recent Foreign Corrupt Practices Act action involving aerospace and defense company Raytheon underscores the importance of risk management related to retaining and overseeing third parties — especially in higher-risk jurisdictions — and the promotion of a companywide culture of compliance, say attorneys at Debevoise.
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Ledbetter's Legacy Shines In 2024 Equal Pay Law Updates
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.
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The Future Of GLP-1 Policy After Drug Shortage Ends
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.
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Conducting A 'Reasonably Expected Market Area' Analysis
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.
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Opinion
Justices Rightly Corrected Course In Nvidia And Facebook
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.
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Gov't Scrutiny Of Workplace Chat Apps Set To Keep Growing
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.