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Corporate
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February 27, 2025
DraftKings To Pay $10M In NFT Proposed Class Settlement
DraftKings Inc. will pay $10 million to users of the sports betting site who owned nonfungible tokens offered through its marketplace, according to a proposed settlement in the putative class action.
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February 27, 2025
Fox Rothschild Expands In Del. With Litigator From Boutique
Fox Rothschild LLP has added an attorney to its Delaware office who spent more than a decade at commercial litigation boutique Abrams & Bayliss LLP to bolster its ability to handle cases in the Chancery and other courts.
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February 27, 2025
US Senate Panel Advances Trump's Labor Secretary Pick
A U.S. Senate committee voted Thursday to move forward the nomination of former Rep. Lori Chavez-DeRemer to lead the U.S. Department of Labor.
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February 26, 2025
Apple Comms Director's Texts Reveal Criticisms Of Judge
An Apple communications director's text messages came to light Wednesday on the last day of a high-stakes hearing into whether Apple complied with a 2021 antitrust injunction, revealing the director had criticized the judge extensively when the hearing began in May.
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February 26, 2025
SEC Wants To Pause Fraud Suit Against Tron Founder
The U.S. Securities and Exchange Commission on Wednesday asked a New York federal court to pause its fraud suit against the founder of blockchain network Tron Foundation, joining the growing list of cryptocurrency cases being abandoned or sidelined under the new Trump administration.
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February 26, 2025
Snap Investors End Derivative Suit Over Apple Privacy Change
Executives and directors of Snapchat parent company Snap Inc. have escaped a consolidated shareholder derivative suit alleging the social media company failed to warn investors about the impact that certain iPhone privacy changes would have on its advertising revenue, with a judge signing off on a voluntary dismissal order.
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February 26, 2025
Tesla Wins Punitive Damages Appeal In Fla. Fatal Crash Suit
Tesla Inc. won't face punitive damage claims in a lawsuit accusing it of causing a 2019 crash that killed a Model 3 driver, a Florida appeals court ruled Wednesday, saying the driver's widow failed to prove that the company likely knew its self-driving feature would cause death or great bodily injury.
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February 26, 2025
Merck, Glenmark Trim United Healthcare's Zetia Antitrust Suit
A Minnesota federal judge has trimmed a United Healthcare unit's antitrust suit claiming that Merck and Glenmark conspired to delay a generic version of the anti-cholesterol drug Zetia, throwing out non-Minnesota state-law claims he called a "bare and conclusory pleading."
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February 26, 2025
Wash. Biz Group Fears Amazon Loss In Price-Gouging Suit
Washington's largest business group is siding with Amazon's bid to dismiss a proposed class action alleging price-gouging during the COVID pandemic, in an amicus brief Wednesday that said consumers want to impose a flawed reading of consumer protection law that would leave businesses in limbo guessing what is fair or unfair.
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February 26, 2025
Matterport Tells Del. Justices Ex-CEO Cash-Out Rulings Flawed
An attorney for 3-D building imaging company Matterport Inc. and an affiliate told Delaware's Supreme Court on Wednesday that the Court of Chancery relied on a "shockingly expansive" definition of the phrase "immediately following" in a decision that ultimately added $79 million to a former CEO's postmerger cash-out after Matterport's go-public sale.
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February 26, 2025
Judge Sends Fox Sports Harassment Suit Back To State Court
A U.S. district judge has sent a lawsuit accusing Fox Sports and its on-air talent of sexual harassment back to California state court after the plaintiff dropped allegations related to overtime, removing the suit's only federal claim.
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February 26, 2025
Trump CFTC Shifts Enforcement Stance From Stick To Carrot
In a sign that it is backing off a more aggressive tone on enforcement during the second Trump administration, the U.S. Commodity Futures Trading Commission has provided what it says is first-of-its-kind guidance on how much money regulated entities can expect to save for cooperating with agency investigations.
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February 26, 2025
Trump Order May Affect Trader's FCPA Conviction, DOJ Says
Federal prosecutors say an oil trader from Connecticut should not win his bid to undo his overseas bribery conviction, but noted that the case's future is uncertain given President Donald Trump's executive order pausing Foreign Corrupt Practices Act cases.
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February 26, 2025
LG Ad Co. Tells Del. Justices It Didn't Breach Deal With Firings
An attorney for TV data company Alphonso Inc. told Delaware's top court Wednesday that the Court of Chancery wrongly ruled last year that the company and its LG Electronics Inc.-controlled board lacked authority to fire five Alphonso co-founder executive officers and two pre-deal employees in a post-deal purge.
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February 26, 2025
Dewberry Ruling May Lead To More Defendants In TM Fights
Plaintiffs in trademark disputes likely will consider including multiple defendants in their complaints when it's unclear who holds the profits from the alleged infringement, according to intellectual property attorneys, after the U.S. Supreme Court remanded a case because nonparty affiliates of a defendant were ordered to pay an award that reached nearly $47 million.
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February 26, 2025
Capital One Can't Delete Suit Over 'Refer A Friend' Texts
Capital One cannot slip a lawsuit accusing it of violating a state ban on unsolicited texts with advertisements by encouraging customers to send "refer a friend" messages, with a Washington federal judge telling the company its consent notice was not good enough.
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February 26, 2025
Skanska JV Owes Ukraine War Cost Hikes, Contractor Says
A Skanska joint venture is the target of a breach of contract lawsuit from a Microsoft corporate campus construction subcontractor alleging it racked up $10 million in unpaid costs due in part to supply chain disruptions caused by COVID and Russia's invasion of Ukraine.
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February 26, 2025
Police Supply Store, Others Ask 5th Circ. To Keep CTA Paused
A Texas police supply store joined with Mississippi libertarians and several other parties asking the Fifth Circuit to keep the Corporate Transparency Act on hold, saying ending the stoppage of that law could force 32 million business entities to file beneficial ownership reports.
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February 26, 2025
Fuel Co. Trustee Accuses Ex-Owners Of $100M Buyout Fraud
The founders and former majority owners of the bankrupt fuel distributor Mountain Express Oil Co. were hit with a lawsuit by the company's trustee Monday alleging that they took nearly $100 million out of the business through a bogus stock buyout that pushed it to the brink of insolvency.
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February 26, 2025
US Chamber Wants Calif. Climate Disclosure Regs Blocked
The U.S. Chamber of Commerce and other business groups have asked a California federal judge to block the state's corporate climate disclosure rules, arguing companies are already suffering harm due to laws that are "so overinclusive, they flunk any First Amendment test."
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February 26, 2025
Top Dem Urges Trump To Leave Independent Agencies Alone
The top Democrat on the House Administration Committee urged President Donald Trump on Wednesday to rescind his executive order seeking to assert more control over independent agencies, which the congressman says is an "unprecedented violation" of law.
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February 26, 2025
Judge Won't Disqualify Firm In Solar Co. Fraud Fight
A federal judge denied Michigan residents' attempt to disqualify attorneys representing a bankrupt solar company's former founding CEO in their fraud case, holding that the law firm's allegedly obstructionist discovery tactics don't amount to an actual conflict of interest.
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February 26, 2025
Trade Group Urges 6th Circ. To Undo Moot NLRB Memo Ruling
Michigan builders are seeking to undo a ruling axing their challenge to a Biden-era policy targeting mandatory anti-union meetings now that the National Labor Relations Board's acting general counsel has withdrawn the directive.
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February 26, 2025
JPMorgan Paying For Lawyers On Both Sides Of Javice Trial
JPMorgan Chase, the bank allegedly duped by Frank founder Charlie Javice into paying $175 million for her education startup, is paying legal fees for defense counsel as well as for lawyers representing prosecution witnesses, according to statements in court Wednesday.
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February 26, 2025
PierFerd Adds Ex-Alston & Bird Real Estate Finance Attorney
Pierson Ferdinand LLP said Wednesday it has added a real estate finance securitization partner who was previously an attorney at Alston & Bird LLP to its corporate department.
Expert Analysis
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Best Practices To Find Del. Earnout Provisions That Hold Up
Recent Delaware earnout litigation illustrates the need for careful drafting and proactive planning to avoid later divergent interpretations of the signed contract, and a series of drafting tips can help, say attorneys at Cozen O'Connor.
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Climate Disclosure Spotlight Shifts To 2 Calif. Laws
With Donald Trump's election spelling the all-but-certain demise of the proposed federal climate disclosure rules, new laws in California currently stand as the nation's only broadly applicable climate disclosure requirements — and their brevity is both a blessing and a curse, say attorneys at Davis Polk.
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What's Ahead As Transparency Act Comes To A Crossroads
Synthesizing the contrasting federal district and appellate court rulings on the Corporate Transparency Act’s validity reveals several main areas of debate that will likely remain at issue as challenges to the law continue winding through the courts, say attorneys at Farella Braun.
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Preparing For Mexican Drug Cartels' Terrorist Designation
In the event President-elect Donald Trump designates Mexican drug cartels as foreign terrorist organizations, businesses will need to consider how their particular industry is affected and evaluate previously legitimate practices given the cartels' involvement so many sectors of the economy, say attorneys at King & Spalding.
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Where Payments Law And Regulation Are Headed In 2025
The Trump administration will likely bring significant changes to payments regulations in 2025, but maintaining internal compliance efforts in the absence of robust federal oversight will remain key as state authorities and private plaintiffs step into the breach, say attorneys at Stinson.
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Republican Trifecta Amplifies Risks For Cos. In 3 Key Areas
Expected coordination between a Republican Congress and presidential administration may expose companies to simultaneous criminal, civil and congressional investigations, particularly with regard to supply chain risks in certain industries, government contracting and cross-border investment, say attorneys at Morgan Lewis.
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5 Evolving Concerns For Family Offices In 2025
Complex regulatory changes and emerging operational risks will force family offices to stay on their toes in 2025, with timely action particularly necessary to address several tax and reporting developments that may affect their investments and business operations, say attorneys at Morgan Lewis.
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Ohio Banking Brief: All The Notable Legal Updates In Q4
Ohio's banking and financial services sector saw several significant developments in the fourth quarter of 2024, including a landmark Uniform Commercial Code ruling, adjustments to the state's Homebuyer Plus Program and the launch of the state's first women-led bank, says attorney Alex Durst.
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Penn State Brand Case Leaves Ornamentality Unresolved
While the recent jury verdict in Penn State University v. Vintage Brand was a win for the college and brands, legal practitioners should expect plenty of litigation around unaddressed ornamentality issues of whether marks that are not yet incontestable can be canceled for being used solely in decorative, non-source-identifying ways, say attorneys at Debevoise.
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2024 Was A Banner Year For Shareholder Activism
Shareholder activism campaigns in 2024 continued at an elevated pace globally, with activist investors exploiting valuation gaps and pushing aggressively for corporate governance reforms, including the ouster of many companies' chief executives, a trend that could continue once President-elect Donald Trump takes office, say attorneys at Sidley.
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Series
Illinois Banking Brief: All The Notable Legal Updates In Q4
While the last quarter of 2024 didn't bring any notable state financial legislation, Illinois banks did see developments in the challenge to the Interchange Fee Prohibition Act, and received some awaited guidance on credit line disclosures and bank-fintech relationships, say attorneys at Dykema.
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7 Ways 2nd Trump Administration May Affect Partner Hiring
President-elect Donald Trump's return to the White House will likely have a number of downstream effects on partner hiring in the legal industry, from accelerated hiring timelines to increased vetting of prospective employees, say recruiters at Macrae.
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How Trump 2.0 May Change Business In Latin America
Companies in Latin America should expect to face more trade restrictions, tighter economic sanctions and enhanced corruption risks, as the incoming administration shifts focus to certain non-U.S. actors, most notably China, says Matteson Ellis at Miller & Chevalier.
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E-Discovery Quarterly: Rulings On Custodian Selection
Several recent rulings make clear that the proportionality of additional proposed custodians will depend on whether the custodians have unique relevant documents, and producing parties should consider whether information already in the record will show that they have relevant documents that otherwise might not be produced, say attorneys at Sidley.
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Impact Of Successful Challenges To SEC's Rulemaking Ability
In 2024, the U.S. Securities and Exchange Commission faced significant legal challenges to its aggressive rulemaking agenda as several of its rules were vacated by the Fifth Circuit, which could hinder the SEC's ability to enact rules extending beyond express statutory authority in the future, say attorneys at Debevoise.