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Compliance
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February 18, 2025
Trump Media Blames Rising Loss Partly On SEC Legal Bills
The owner of President Donald Trump's social media platform attributed its widening losses in part to rising legal costs from the Biden-era U.S. Securities and Exchange Commission's investigations of the merger that took the company public, according to a statement.
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February 18, 2025
Pot Co. Alliance Adds Class Claims To DC Dispensaries Suits
A group of medical cannabis companies is adding class claims to suits it has filed against companies it alleges are acting as illegal recreational dispensaries in anticipation of consolidation of the suits.
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February 18, 2025
NY Broadens Tax Break Guidelines For Development Projects
New York state broadened guidelines for determining whether some economic development projects may be eligible for property and sales tax exemptions based on the level of a project's on-site child care services under clarifying legislation signed by Democratic Gov. Kathy Hochul.
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February 18, 2025
Sidley Expands In Calif. With Latham Emerging Cos. Atty
Sidley Austin LLP is expanding its West Coast team, bringing in a Latham & Watkins LLP emerging companies specialist as a partner in its San Francisco Bay Area offices.
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February 18, 2025
Compliance Boss Took $9M In Clients, Investment Firm Says
A Connecticut investment firm with $360 million in assets under management says its former chief compliance officer violated trade secrets and computer fraud laws by taking eight clients worth $9.3 million and secretly joining a competitor, all despite bearing responsibility for his now-former firm's data confidentiality measures.
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February 18, 2025
Simpson Thacher Adds Willkie Farr Registered Funds Team
Simpson Thacher & Bartlett LLP announced on Tuesday the hiring of a four-partner registered funds team formerly with Willkie Farr & Gallagher LLP.
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February 18, 2025
DOJ Noncommittal On Cognizant Bribe Trial Amid FCPA Order
In the wake of President Donald Trump's Feb. 10 executive order pausing enforcement of the Foreign Corrupt Practices Act, prosecutors told a federal judge Monday that they are preparing for a March 3 trial in their charges alleging two former executives of Cognizant Technology Solutions Corp. authorized a bribe to an Indian official, but that the case is under review.
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February 18, 2025
Pot Retailers Want Mass. City To Refund 'Impact Fees'
Three cannabis retailers in the Boston suburb of Newton are seeking a refund of approximately $2 million in what they say were "clearly and unequivocally unlawful" fees paid to do business there, according to a lawsuit filed in state court.
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February 18, 2025
Adams, Feds Ordered To Explain Dismissal Bid At Hearing
A Manhattan federal judge demanded details Tuesday and scheduled a hearing after the Justice Department asked to dismiss criminal charges against New York City Mayor Eric Adams, signaling that the court would not rubber-stamp the request following allegations of a corrupt bargain and mass resignations of prosecutors in protest.
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February 17, 2025
Labor Groups Denied Block On DOGE's Agency Access
A Washington, D.C. federal judge again declined to block Elon Musk's Department of Government Efficiency from accessing three federal agencies' data, saying worker and consumer advocates haven't shown that the department's agents don't belong.
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February 16, 2025
Trump Admin Asks Justices To OK Special Counsel Firing
The Trump administration has asked the U.S. Supreme Court to allow the president's firing of a top government ethics watchdog to move forward, arguing a Washington, D.C., federal judge unlawfully seized executive power when she issued an order temporarily reinstating the official pending a legal challenge.
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February 15, 2025
Real Estate Recap: Practice Pivot, Tariff Tax, Lennar's Lawyers
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including the latest shifts in real estate law practice, a Big Law leader's predictions for a looming tariff "tax" debate, and a look at the legal talent behind homebuilder Lennar Corp.'s $5.8 billion spinoff.
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February 14, 2025
Loper Bright Doesn't Sink ESG Rule, Texas Judge Says
A Texas federal judge again upheld a Biden-era rule allowing retirement fiduciaries to consider issues like climate change and social justice when choosing investments, ruling that the rule was still valid despite the U.S. Supreme Court doing away with a decades-long approach to interpreting statutes.
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February 14, 2025
Feds Seek Stay Of States' Methane Suit, Citing Trump Order
The federal government has requested a pause on North Dakota and other states' challenge to a Bureau of Land Management methane waste rule, saying a stay is appropriate because the rule is under review following President Donald Trump's "Unleashing American Energy" executive order.
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February 14, 2025
FTC Political Appointees Told To Break Up With 'Leftist' ABA
Federal Trade Commission Chair Andrew N. Ferguson told agency staff in a letter that political appointees cannot hold leadership positions in the American Bar Association, attend its events or renew their memberships, citing the ABA's "leftist advocacy and its recent attacks" on the Trump administration's agenda.
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February 14, 2025
Demise Of Humphrey's Executor Could Sow Chaos At FERC
The Trump administration's quest to expand the president's firing authority over members of independent agencies paints a target on the Federal Energy Regulatory Commission that would create instability within the energy industry if at-will removal of commissioners becomes a reality.
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February 14, 2025
CFTC Taps Ex-Whistleblower Chief As Enforcement Head
The Commodity Futures Trading Commission's acting head announced the appointment of a new enforcement director, naming to the position a former federal prosecutor who recently was the agency's whistleblower chief.
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February 14, 2025
SEC Crypto Mining Case Paused After Feds Bring Charges
A Texas federal judge paused the U.S. Securities and Exchange Commission's case against a crypto asset mining and hosting company after federal prosecutors filed their own suit against three of its executives for allegedly spending investor funds on themselves instead of the mining equipment they promised.
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February 14, 2025
Maine Judge Denies Challenge To Corporate Transparency Act
A Maine federal judge upheld the Corporate Transparency Act, rejecting one of several challenges across federal courts claiming Congress lacked the power to require companies to disclose their real owners.
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February 14, 2025
FTC's Ferguson, PBMs Agree: Nix Leader Removal Safeguards
Federal Trade Commission Chairman Andrew N. Ferguson offered his own support for enabling the president to readily fire independent agency commissioners at the FTC and beyond, a day after pharmacy benefit managers cited the new U.S. Department of Justice policy in their own battle with the FTC.
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February 14, 2025
'Not For Sale': OpenAI Rebuffs Musk's $97.4B Takeover Bid
The board of directors for OpenAI voted unanimously on Friday to reject a $97.4 billion offer from Elon Musk and a consortium of investors to buy the artificial intelligence platform, with the board chair saying in a statement, "OpenAI is not for sale."
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February 14, 2025
SEC Fines Adviser Firm, Ex-Rep Over Fiduciary Duty Claims
The U.S. Securities and Exchange Commission entered into a $225,000 settlement with New York-based registered investment adviser One Oak Capital Management LLC and a former representative to resolve alleged misconduct related to advisory services provided to their retail clients.
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February 14, 2025
SEC Says Crypto Task Force Could Resolve Coinbase Case
The U.S. Securities and Exchange Commission told the Second Circuit that its newly formed cryptocurrency task force effort may lead to a resolution in its enforcement case against Coinbase, warranting a brief delay to the regulator responding to the crypto exchange's bid for appellate review of whether securities laws apply to the transactions on its platform.
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February 14, 2025
Trump Aims To End Limits On President's Power To Fire
President Donald Trump has his sights set on taking down a 90-year-old U.S. Supreme Court ruling that protects certain government officials from being fired, a U.S. Department of Justice letter confirms, and he plans to leverage his prior legal victories to deliver the precedent's death knell and expand presidential power.
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February 14, 2025
Old Permits Irrelevant To Pollution Controls, Texas Justices Say
The Texas Supreme Court said that previous emissions permits have no bearing on the definition of the best available pollution control technology for new projects, weighing in on a Fifth Circuit dispute over a proposed liquefied natural gas terminal in Port Arthur, Texas.
Expert Analysis
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Series
NY Banking Brief: All The Notable Legal Updates In Q4
In 2024's final quarter, the New York State Department of Financial Services published guidance on mitigating the rising cybersecurity risks of artificial intelligence and remote technology workers with North Korean ties, and the state attorney general launched an antitrust investigation into Capital One's proposed Discover merger, say attorneys at Haynes Boone.
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Series
Exercising On My Peloton Bike Makes Me A Better Lawyer
While I originally came to the Peloton bike for exercise, one cycling instructor’s teachings have come to serve as a road map for practicing law thoughtfully and mindfully, which has opened opportunities for growth and change in my career, says Andrea Kirshenbaum at Littler.
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Takeaways From SEC's Mixed Results In '24 Crypto Litigation
Though the U.S. Securities and Exchange Commission's new leadership seems likely to create a more favorable cryptocurrency regulatory environment, it must also confront the consequences of, and lingering questions raised by, the SEC's 2024 policy of investigating and charging cryptocurrency trading platforms for operating unregistered exchanges, say attorneys at Dechert.
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Opinion
Aviation Watch: How Court Nixed Boeing Plea Deal Over DEI
A Texas federal court's rejection of the plea agreement between the U.S. Department of Justice and Boeing over the 737 Max aircraft gratuitously injected the court's views on diversity, equity and inclusion into a case that shouldn't have been a criminal matter in the first place, says Alan Hoffman, a retired attorney and aviation expert.
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Reviewing The High Court's Approach To Free Speech Online
As the U.S. Supreme Court began addressing the interplay between the First Amendment and online social media platforms, its three opinions from last term show the justices adopting a nuanced approach that recognizes that private citizens, public employees and online platforms all have First Amendment rights, say attorneys at Jenner & Block.
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Series
In The CFPB Playbook: A Sprint To The Finish Line
The fourth quarter of 2024 was an impressive demonstration of the Consumer Financial Protection Bureau's ability to regulate, enforce and supervise, even on borrowed time following the election results, and we should expect the current bureau to run nonstop until Jan. 20, say attorneys at Covington.
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3 Factors Affecting Retail M&A Deals In 2025
Retailers considering mergers and acquisitions this year face an evolving antitrust environment, including a new administration under President-elect Donald Trump, revised merger guidelines and a precedent set last year by a canceled $8.5 billion handbag merger, say attorneys at DLA Piper.
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What FARA Enforcement In 2024 Reveals For The Year Ahead
A number of developments, from indictments to legislation, shaped the Foreign Agents Registration Act enforcement landscape last year, and following the U.S. Department of Justice's recently released long-awaited proposed amendments to the law, 2025 shows no signs of slowing down, says Tessa Capeloto at Wiley.
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How New Fraud Enforcement Tool Affects Gov't Contractors
Government contractors will likely face greater scrutiny under the recently enacted Administrative False Claims Act, which broadens federal agencies' authority to pursue low-dollar fraud claims, but contractors may also find the act makes settlement of such claims easier to negotiate, say attorneys at Wiley.
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How Trump Admin May Approach AI In The Workplace
Key indicators suggest that the incoming Trump administration will adopt a deregulatory approach to artificial intelligence, allowing states to fill the void, so it is critical that employers pay close attention to developing legal authority concerning AI tools, say attorneys at Littler.
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Predicting What's Next For SEC By Looking At Past Dissents
While Paul Atkins' nomination to be the next chair of the U.S. Securities and Exchange Commission has taken center stage, an analysis of Republican Commissioners Hester Peirce and Mark Uyeda's past votes and dissents provides a preview of where enforcement may shift in the new administration, say attorneys at Gibson Dunn.
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
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Searching For Insight On Requested Google Chrome Remedy
The potential for Google to divest its Chrome browser — a remedy requested by the Justice Department following a D.C. federal court’s finding the company is a monopolist — has drawn both criticism and endorsement, but legal precedent likely supports the former, say attorneys at Ballard Spahr.
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Consultants Should Be Aware Of DOJ's Potential New Reach
The U.S. Department of Justice's recent first-of-its-kind settlement with McKinsey & Co. indicates not only the DOJ's more aggressive stance toward businesses' potential criminal wrongdoings, but also the benefits of self-disclosure and cooperation when wrongdoing becomes apparent, says Dom Caamano at Kibler Fowler.
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Lessons Learned From 2024's Top FMLA Decisions
Last year's major litigation related to the Family and Medical Leave Act underscores why it is critical for employers to understand the basics of when leave and accommodations are required, say attorneys at Dechert.