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Corporate
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March 21, 2025
Ex-Cognizant CLO Reconsidering Dismissal Of Paul Weiss
A former Cognizant Technology Solutions Corp. executive facing bribery charges indicated Friday that he may reconsider his decision to fire Paul Weiss Rifkind Wharton & Garrison LLP as his trial counsel, now that President Donald Trump has rescinded an executive order limiting the firm's access to federal buildings and officials.
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March 21, 2025
DOJ Ends Glencore Monitorships Under Bribery Deal Early
The U.S. Department of Justice has ended early two monitorships imposed as part of mining giant Glencore's 2022 bribery and market manipulation case settlement, in the wake of President Donald Trump's directive pausing enforcement of the Foreign Corrupt Practices Act.
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March 21, 2025
Travelers Wants Exit From $4.5M Faulty Apartment Settlement
Travelers told a Georgia federal judge Friday that the insurer should not owe the lion's share of a construction contractor's $4.5 million settlement over botched site work at an apartment complex, arguing the bill should be footed by the company's primary policies with Amerisure.
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March 21, 2025
Block & Leviton, Elsberg To Co-Lead Agiliti Squeeze-Out Suit
Block & Leviton and Elsberg Baker & Maruri have won co-lead counsel roles in a consolidated proposed investor class action in Delaware's court of chancery challenging an alleged squeeze-out of minority shareholders of medical equipment company Agiliti Inc.
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March 21, 2025
Ex-UBS North America CEO Agrees To $4.9M FBAR Judgment
The former North American CEO for Swiss bank UBS on Friday agreed to a $4.9 million judgment to end claims that he failed to file timely or accurate foreign bank account reports with the Internal Revenue Service between 2003 and 2013.
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March 21, 2025
DOJ Seeks To DQ Judge From Perkins Coie's Exec Order Suit
The U.S. Department of Justice moved Friday to disqualify the D.C. federal judge presiding over Perkins Coie LLP's challenge to President Donald Trump's executive order targeting the firm for its diversity-focused hiring efforts and its political representation.
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March 21, 2025
Spencer Fane Adds Armstrong Teasdale Debt Finance Chair
Spencer Fane LLP has hired the former chair of Armstrong Teasdale LLP's debt finance practice, who is joining the firm in St. Louis as a partner in several practices related to financial and corporate services, according to a recent announcement.
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March 21, 2025
GC Cheat Sheet: The Hottest Corporate News Of The Week
Cognizant's former chief legal officer, who's facing bribery charges, requested a trial delay after he fired Paul Weiss from his defense team following the Trump administration's suspension of the firm's security clearances. Meanwhile, new findings show that women are still compensated less than men in legal operations roles. These are some of the stories in corporate legal news you may have missed in the past week.
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March 21, 2025
Israel-Focused SPAC Raises $125M To Pursue Merger
Shares of Gesher Acquisition Corp. II began trading on the Nasdaq on Friday after the blank-check company detailed plans to raise $125 million in its initial public offering with the goal of merging with an Israeli company.
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March 21, 2025
Taxation With Representation: Cravath, Paul Weiss, Cooley
In this week's Taxation With Representation, Google acquires Wiz, QXO Inc. acquires Beacon Roofing Supply, and the Boston Celtics are bought by a group led by private equity firm co-founder William Chisholm.
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March 20, 2025
Trump Rescinds Paul Weiss Order After Firm Strikes Deal
President Donald Trump on Thursday announced he will rescind an executive order suspending security clearances held by Paul Weiss Rifkind Wharton & Garrison LLP employees after the law firm agreed to not adopt DEI hiring practices and to provide $40 million worth of pro bono services to support administration initiatives.
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March 20, 2025
'Careless People' Author Can Testify In Meta Addiction MDL
Meta Platforms Inc. on Thursday failed to block the deposition of the former executive behind the tell-all memoir "Careless People," with a California magistrate judge giving plaintiffs the green light to depose her in multidistrict litigation over social media platforms' allegedly addictive designs.
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March 20, 2025
Nippon Calls Consumer Suit Over US Steel Merger 'Baseless'
Nippon Steel Corp. has urged a California federal court to throw out a consumer suit over its blocked $14.9 billion merger with U.S. Steel Corp., calling it yet another "in a long line of baseless lawsuits" over a merger of public companies that they have "no standing to challenge in the first place."
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March 20, 2025
Media Matters Says X Can't Restrict Dispute To Texas
A nonprofit media watchdog wants to preserve its California federal lawsuit challenging social media site X's efforts to pursue defamation claims in Texas federal court, telling a Texas federal judge that X failed to adequately argue for an anti-suit injunction.
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March 20, 2025
Sequoia Capital Rallies For Musk's $56B Tesla Pay Appeal
Venture capital firm Sequoia Capital Operations on Tuesday asked the Delaware Supreme Court for permission to back Elon Musk's appeal aimed at a Court of Chancery decision that had short-circuited the electric car company's 10-year, $55.6 billion compensation plan for the CEO.
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March 20, 2025
3 Firms Win Lead Plaintiff Spot In Boeing Chancery Case
Bleichmar Fonti & Auld LLP, Grant & Eisenhofer PA and Scott + Scott Attorneys at Law LLP got the nod Thursday to pursue potentially massive damages in a Delaware Court of Chancery derivative suit on behalf of The Boeing Co. arising from a string of plane crashes and oversight failures.
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March 20, 2025
Hesai Says DOD's View On 'Chinese Military Co.' Too Broad
The legal team representing a Shanghai-based manufacturer of lidar products urged a D.C. federal judge to remove the company from the U.S. Department of Defense's list of "Chinese military companies," saying the department's definition of the term is so expansive it could apply to almost any company in China.
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March 20, 2025
Ex-Kubient CEO Gets 1 Year For Lying About AI Fraud Tool
A New York federal judge on Thursday sentenced software company Kubient Inc.'s former CEO to a year and a day in prison for putting $1.3 million in phony revenue on the digital advertising technology company's books and lying about an artificial intelligence-powered tool meant to spot digital ad fraud.
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March 20, 2025
Walgreens Can't Dodge Wash. Law In 'Non-Drowsy' Label Suit
The Washington Supreme Court said Thursday that Walgreens could not avoid claims under the state's consumer protection law alleging its "non-drowsy" cough medicine label was deceptive, rejecting the retailer's contention that the law's safe harbor provision shielded it from a proposed class action in Illinois federal court.
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March 20, 2025
Feds Say Crypto Lobbyist Can't Delay FTX-Tied Case
New York federal prosecutors Thursday opposed a request from attorney and crypto lobbyist Michelle Bond to extend filing deadlines for pre-trial motions in her criminal case until June, saying Bond's inability to access her assets due to bankruptcy proceedings involving her FTX-affiliated husband is not enough to warrant a delay.
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March 20, 2025
Attys Suing FIFA Appear To Have Used AI In Fighting DQ Bid
A Puerto Rico federal judge is threatening sanctions for attorneys accusing soccer's international governing body, its Puerto Rican affiliate and a regional soccer association of trying to block local rivals, after the attorneys appeared to use artificial intelligence to help write briefs containing citations to nonexistent cases.
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March 20, 2025
4th Circ. Seems Open To Reviving Pregnant Worker's Bias Suit
The Fourth Circuit seemed receptive Thursday to a former hospital worker's argument that she was unlawfully fired for a pregnancy-related disability, pondering whether the lower court had relied on an outdated interpretation of disability bias law when it tossed her case.
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March 20, 2025
Investor Sues For Real Estate AI Co. Shares Under $100M Deal
A Luxembourg-based investment firm sued artificial intelligence homebuying platform ReAlpha in New York federal court, seeking to enforce a $100 million share purchase agreement a week after a federal judge rejected the platform's attempt to escape the deal.
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March 20, 2025
Ex-Cognizant CLO Seeks Trial Delay After Hiring New Counsel
After hiring new trial counsel Wednesday, a former Cognizant Technology Solutions Corp. executive facing bribery charges asked a New Jersey federal judge on Thursday for an adjournment of the April 7 trial date so his new attorney can review the evidence and the history of the case, which has been pending for more than six years.
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March 20, 2025
Ga. House Passes Civil Justice Overhaul, Nears Final Approval
Georgia's House of Representatives voted largely along party lines Thursday to advance a Republican-backed overhaul to the state's civil justice system, clearing one of the final hurdles for Gov. Brian Kemp's top legislative priority of 2025.
Expert Analysis
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Reading The Tea Leaves On Mexico, Canada And China Tariffs
It's still unclear whether the delay in the imposition of U.S. tariffs on Canadian and Mexican imports will result in negotiated resolutions or a full-on trade war, but the outcome may hinge on continuing negotiations and the Trump administration's possible plans for tariff revenues, say attorneys at Eversheds Sutherland.
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A Closer Look At FDX's New Role As Banking Standard-Setter
Should the new Consumer Financial Protection Bureau let stand the decision empowering Financial Data Exchange as an industry standard-setter, it will be a significant step toward broader financial data-sharing, but its success will depend on industry adoption, regulatory oversight and consumer confidence, say attorneys at Clark Hill.
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Partially Faulting Airline For 401(k) ESG Focus Belies ERISA
A Texas federal court's recent finding that American Airlines breached its fiduciary duty of loyalty, but not of prudence, by letting its 401(k) pursue environmental, social and governance investments, misinterprets the Employee Retirement Income Security Act's standard of care, says Jeff Mamorsky, a Cohen & Buckmann partner and ERISA drafter.
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Fund Names Rule FAQs Leave Some Interpretative Uncertainty
Although recently released FAQs clarify many specific points of the 2023 expansion to the Investment Company Act's fund names rule, important questions remain about how U.S. Securities and Exchange Commission staff will interpret other key terms when the end-of-year compliance date arrives, say attorneys at Dechert.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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Opinion
US Steel-Nippon Merger Should Not Have Been Blocked
The Biden administration's block of the U.S. Steel and Nippon Steel merger on national security grounds was unconstitutional overreach and needs to be overturned, with the harms remedied in federal court, says attorney Chuck Meyer.
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Biden-Era M&A Data Shows Continuity, Not Revolution
While the federal antitrust agencies under former President Joe Biden made broad claims about increasing merger enforcement activity, the data tells a different story, with key claims under Biden coming in at the lowest levels in decades, say attorneys at Covington.
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What Travis Hill's Vision For FDIC Could Portend For Banks
If selected to lead the Federal Deposit Insurance Corp. in a permanent capacity, acting Chairman Travis Hill is likely to prioritize removing barriers to innovation and institution-level growth, emphasizing the idea that eliminating rules, relaxing standards and reducing scrutiny will reinvigorate the industry, say attorneys at Mitchell Sandler.
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10 Issues To Watch In Aerospace And Defense Contracting
This year, in addition to evergreen developments driven by national security priorities, disruptive new technologies and competition with rival powers, federal contractors will see significant disruptions driven by the new administration’s efforts to reduce government spending, regulation and the size of the federal workforce, say attorneys at Thompson Hine.
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Exploring China's 1st Administrative Merger Control Ruling
As the first judicial ruling in China's merger control regime, the Beijing Intellectual Property Court's recent upholding of Simcere's acquisition of Tobishi helps to clarify how the Chinese antitrust authority and court assess remedies, say attorneys at Tian Yuan Law Firm.
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Citibank Wire Transfer Ruling Creates New Liability For Banks
A New York federal court's recent decision in New York v. Citibank, affirming the Electronic Fund Transfer Act's consumer protections cover wire transfers allegedly initiated by scammers who infiltrated Citibank customers' online accounts, creates new liability for sending financial institutions and upends decades-old regulatory guidance, say attorneys at Stinson.
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Defense Strategies For Politically Charged Prosecutions
Politically charged prosecutions have captured the headlines in recent years, providing lessons for defense counsel on how to navigate the distinct challenges, and seize the unique opportunities, such cases present, says Kenneth Notter at MoloLamken.
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Series
Competitive Weightlifting Makes Me A Better Lawyer
The parallels between the core principles required for competitive weightlifting and practicing law have helped me to excel in both endeavors, with each holding important lessons about discipline, dedication, drive and failure, says Damien Bielli at VF Law.
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Inside The Uncertainty Surrounding CFPB's Overdraft Rule
The Consumer Financial Protection Bureau's overhaul of overdraft fee regulation hangs in limbo as the industry watches to see whether new leadership will repeal the rule, allow it to stay in place, or wait for congressional action or the courts to drive its demise, say attorneys at Alston & Bird.
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How Private Securities Suits Complement SEC Enforcement
U.S. Securities and Exchange Commission enforcement is vital to the healthy functioning of markets, but government enforcement alone is not enough to ensure meaningful monetary recoveries for investor losses due to securities law violations, say attorneys at Bernstein Litowitz.