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Compliance
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April 02, 2025
Davis Wright Welcomes Longtime Jones Day Finance Atty
Davis Wright Tremaine LLP announced Tuesday that it has hired a longtime Jones Day attorney focused on advising investment management industry participants, praising his decades of experience helping clients navigate U.S. federal securities laws.
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April 02, 2025
Feds Drop FCPA Case Against Ex-Cognizant Execs
The federal government on Wednesday moved to dismiss its Foreign Corrupt Practices Act case against two former Cognizant Technology Solutions Corp. executives, ending a long-running case that had been stalled by President Donald Trump's executive order curtailing bribery prosecutions and another now-rescinded presidential decree targeting Paul Weiss Rifkind Wharton & Garrison LLP, which had been representing one of the defendants.
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April 02, 2025
1st Circ. Says Judge Too Hasty In Handing SEC $93M Win
The First Circuit on Tuesday vacated a $93 million judgment against a Massachusetts-based financial services firm, finding the lower court jumped the gun in granting an early win to the U.S. Securities and Exchange Commission.
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April 02, 2025
Haynes Boone Taps Seward & Kissel Atty To Lead Derivatives
Haynes Boone has hired another former Seward & Kissel LLP partner to co-chair the firm's derivatives practice group.
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April 02, 2025
National Highway Agency's Ex-Top Counsel Joins Sidley In DC
Sidley Austin LLP has hired the former chief counsel of the agency responsible for oversight of the safety of America's roadways, who joins the firm to co-lead its global automotive and mobility industry group, one of several roles he'll have in its D.C. office, the firm recently announced.
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April 02, 2025
Eric Adams Case Dismissed As Judge Rebukes DOJ 'Bargain'
A Manhattan federal judge on Wednesday permanently dismissed corruption charges against New York City Mayor Eric Adams, heeding advice from court-appointed counsel Paul Clement even as he gave credence to district prosecutors' claims of a quid pro quo between Adams and Trump administration officials in the Justice Department.
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April 01, 2025
Trump Admin Layoffs 'Probably Broke Laws,' Judge Says
A Maryland federal judge ruled Tuesday that the Trump administration "probably broke the laws that regulate en masse terminations of government employees," ordering the federal government to reinstate thousands of probationary employees who were abruptly fired from their jobs in 19 states and the District of Columbia.
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April 01, 2025
Tesla Asks Del. Justices To Undo $176M Atty Fee 'Windfall'
Tesla urged the Delaware Supreme Court on Tuesday to slash a $176 million attorney fee award granted as part of an excessive director compensation suit settlement, saying it amounts to a "windfall in a case that settled well before trial and after three years of only tepid litigation."
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April 01, 2025
Ex-Microsoft Manager Says He Was Fired For Whistleblowing
A former project manager for Microsoft says he was fired after flagging compliance issues and misconduct, including being forced to leak sensitive data from client Freddie Mac's workforce platform and being asked to falsify a report to cover up fraud, according to a suit filed Monday in Texas federal court.
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April 01, 2025
Ark. Law Limiting Kids' Social Media Use Struck Down
Arkansas' law limiting minors' social media access is a "content-based restriction on speech" that violates platform users' First Amendment rights and is unconstitutionally vague, a federal judge ruled Monday, striking down the law that requires parental permission and age checks to access certain online platforms.
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April 01, 2025
Trump Administration Sued Over Border Cash-Reporting Order
A Texas trade group on Tuesday sued the Trump administration over its order singling out cash-moving businesses along the southwest border for heightened anti-money laundering reporting, calling the move overreaching, discriminatory and "financially ruinous."
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April 01, 2025
FCC Urged To Raise Prison Phone Rate Caps Amid Legal Fight
Prison phone company NCIC Correctional Services is not letting up on its bid to convince the Federal Communications Commission to reverse prison phone call rate caps put in place during the Biden administration, as evidenced by another recent meeting with agency officials.
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April 01, 2025
5th Circ. Judge Questions IRS Denial Of Insurance Deductions
A Fifth Circuit judge pushed back Tuesday on the Internal Revenue Service's rejection of expense deductions for two physician-led micro-captive insurance companies, saying that the businesses seemed to serve a legitimate purpose while acknowledging that doctors are "notoriously inept" businessmen.
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April 01, 2025
FCC Pulls Texas Station's License For Unpaid Fees
A Texas radio station nestled right on the border with New Mexico just had its license yanked by the Federal Communications Commission after it failed to pay its regulatory fees for more than a decade, the agency has revealed.
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April 01, 2025
5th Circ. Questions $37M FTC Award Against Online Retailer
A Fifth Circuit panel seemed wary to accept a drop-shipping company's claim that a $37 million award to the Federal Trade Commission was out of line, saying the company seemed to admit it lied about how fast it could deliver protective equipment like masks during the COVID-19 pandemic.
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April 01, 2025
Estée Lauder Must Face Investors' Suit Over Inflated Growth
Estée Lauder investors have successfully pled the cosmetics company and its top brass made several misleading omissions and statements and opinions "mired in half-truths" in their suit alleging that the company announced unrealistic expectations for growth early in the COVID-19 pandemic, a New York federal judge ruled Monday.
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April 01, 2025
Gov't Says Climate Webpage Takedowns Reflect New Priorities
Environmental groups have failed to show that the U.S. Department of Agriculture must restore certain climate change-focused webpages to its sites, government attorneys have argued, telling a Manhattan federal judge Monday that it's in the public's interest to have government websites that reflect the current presidential administration's priorities.
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April 01, 2025
Ala. Ruling Won't End Interstate Fights Over Abortion Travel
A federal court order blocking Alabama from prosecuting doctors for helping women seek out-of-state abortions won't end legal conflicts between states with abortion bans and those without.
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April 01, 2025
Takeda Antitrust Trial Over Actos Generics Set For July
A New York federal court refused a bid from Takeda Pharmaceuticals Co. to escape a long-running case accusing it of unlawfully delaying generic versions of its diabetes treatment Actos and scheduled a trial to start in July.
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April 01, 2025
House GOP Calls For Further Crackdown On SEC Proxy Rules
Republican lawmakers are calling on acting U.S. Securities and Exchange Commission Chair Mark Uyeda to put in place regulations that would eliminate the ability of shareholders to bring social and political issues to a vote, just weeks after the commission made it easier for publicly traded companies to exclude certain shareholder proposals.
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April 01, 2025
Republicans Float Wish List Of Biden Financial Rule Rollbacks
Republican lawmakers on the House Financial Services Committee sent a bevy of letters to financial regulators on Tuesday calling for the withdrawal or modification of rules and guidance issued under the Biden administration addressing topics like risk management, mergers, banking capital requirements and crypto business reporting.
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April 01, 2025
7th Circ. Revives Officer's Back Pay Bid In ADA Row
The Seventh Circuit reinstated Tuesday a former corrections officer's back pay request that was rejected by a lower court after a jury found the county sheriff he worked for violated disability bias law by subjecting him to an unnecessary medical exam, but didn't owe him any damages.
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April 01, 2025
Ex-Exec Accuses Deutsche Bank Of Audit Lies, Retaliation
A former high-ranking official with Deutsche Bank has sued the bank for whistleblower retaliation and libel over what he said was a false human resources complaint concocted to fire him for cause after he flagged the bank's alleged lies to federal regulators about operational control issues.
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April 01, 2025
Fla. Defends Sandoz Price-Fixing Settlement Terms
Florida defended its deal with Sandoz Inc. on Monday, saying the other states suing the generic-drug maker over price-fixing have no right to object to the settlement, which does not require court approval and does not affect the states objecting to it.
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April 01, 2025
Conn. Banking Boss Orders Fintech Duo To Repay Investors
Connecticut's banking regulator has ordered two dissolved Greenwich-based companies to reimburse dozens of investors $843,000 for making them believe their money was earmarked for an investment algorithm patent, when instead company founders blew some of the cash at salons and department stores and on plastic surgery.
Expert Analysis
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After CEQ's Rollback, Fate Of NEPA May Be In Justices' Hands
The White House Council on Environmental Quality recently announced its intention to rescind its own National Environmental Policy Act regulations, causing additional burdens to existing NEPA challenges, and raising questions for regulated entities and federal agencies that may only be resolved by a pending U.S. Supreme Court case, say attorneys at Holland & Knight.
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Making The Case For Rest In The Legal Profession
For too long, a culture of overwork has plagued the legal profession, but research shows that attorneys need rest to perform optimally and sustainably, so legal organizations and individuals must implement strategies that allow for restoration, says Marissa Alert at MDA Wellness, Carol Ross-Burnett at CRB Global, and Denise Robinson at The Still Center.
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2 Areas Of Labor Law That May Change Under Trump
Based on President Donald Trump's recent moves, employers should expect to see significant changes in the direction of law coming out of the National Labor Relations Board, particularly in two areas where the Trump administration will seek to roll back the Biden NLRB's changes, says Daniel Johns at Cozen O’Connor.
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Opinion
It's Time To Fix The SEC's Pay-To-Play Rule
Nearly 15 years after its adoption, the U.S. Securities and Exchange Commission's pay-to-play rule is not working as intended — a notion recently echoed by SEC Commissioner Hester Peirce — and the commission should reconsider the strict liability standard, raise the campaign contribution limits and remove the look-back provision, say attorneys at WilmerHale.
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Opinion
CPSC's Amazon Ruling Is A Win For Safety, Accountability
A recent U.S. Consumer Product Safety Commission order classifying Amazon.com as a distributor, and requiring it to comply with notice, recall, refund and remediation obligations for defective products, is a major victory for consumer safety — and for attorneys pursuing product liability claims against major online retailers, says Donald Fountain at Clark Fountain.
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Cross-Border Lessons In Using Hague Evidence Convention
Recent case law demonstrates that securing evidence located abroad requires a strategic approach, including utilization of the Hague Evidence Convention and preparation to justify your chosen evidence-gathering path, say attorneys at Fish & Richardson.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
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UK Refusal Of US Extradition Request May Set New Standard
The recent U.K. Supreme Court ruling in El-Khouri v. U.S., denying a U.S. extradition request, overturns a long-held precedent and narrows how U.K. courts must decide such requests, potentially signaling a broader reevaluation of U.K. extradition law, say lawyers at Dechert and Kingsley Napley.
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Navigating The Growing Thicket Of 'Right To Repair' Laws
An emerging patchwork of state laws on the right to repair creates tensions with traditional intellectual property and competition principles, so manufacturers should plan proactively for legal disputes and minimize potential for rival third-party repairs to weaponize state laws, say attorneys at Reed Smith.
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Justices' Revival Ruling In Bias Suit Exceeds Procedural Issue
The U.S. Supreme Court's recent ruling in Waetzig v. Halliburton allowed the plaintiff in an age discrimination lawsuit to move to reopen his case after arbitration, but the seemingly straightforward decision on a procedural issue raises complex questions for employment law practitioners, says Christopher Sakauye at Dykema.
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Why A Rare SEC Dismissal May Not Reflect A New Approach
While the U.S. Securities and Exchange Commission's pending dismissal of its case against Silver Point is remarkable to the extent that it reflects a novel repudiation of a decision made during the prior commission, a deeper look suggests it may not represent a shift in policy approach, say attorneys at Weil.
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Unpacking First Consumer Claim Under Wash. Health Data Act
The first consumer class action claim filed under Washington's My Health My Data Act, Maxwell v. Amazon.com, may answer questions counsel have been contending with since the law was introduced almost a year ago, if the court takes the opportunity to interpret some of more opaque language, say attorneys at Polsinelli.
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Deficiency Trends In National Futures Association Exams
A recent notice from the National Futures Association outlining the most common deficiencies uncovered during exams gives member firms an opportunity to review prior guidance, particularly regarding the hot topic of implementing procedures governing the use of outsourced service providers, say attorneys at Akin.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
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Mastering The Fundamentals Of Life Sciences Due Diligence
As life sciences transactions continue to gain tremendous momentum, companies participating in these transactions must conduct effective and strategic regulatory due diligence, which involves extensive amounts of information and varies by manifold factors, says Anna Zhao at GunnerCooke.