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Corporate
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December 02, 2024
X Escapes Former Twitter Security Head's Firing Suit
A New Jersey federal judge has sent a former Twitter security chief's suit claiming he was fired for protesting massive budget cuts to arbitration, ruling that the claims fail under the provisions of the company's arbitration agreement.
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December 02, 2024
Pa. Justices To Weigh Asbestos Suits For Defunct Co.'s Parent
The Supreme Court of Pennsylvania will take up an appeal over whether a case can pierce the corporate veil to turn tort claims against a dissolved company into claims against its parent company.
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December 02, 2024
Musk Asks Court To Halt OpenAI's Conversion To For-Profit
Elon Musk sought a preliminary injunction asking a California federal court to stop OpenAI from transitioning into a for-profit enterprise, arguing the plaintiffs and the public would be harmed whether as competitors, donors, investors, consumers, taxpayers, citizens or "simply as people" worried about AI rushing unsafe products into the marketplace.
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December 02, 2024
JPMorgan, Tesla Agree To End $162M Suit Over Musk Tweet
JPMorgan Chase & Co. and Tesla told a New York federal judge on Monday the parties have agreed to voluntarily end JPMorgan's suit alleging Tesla owes it $162 million over expired stock warrants after Tesla CEO Elon Musk mulled taking the company private in an August 2018 tweet.
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December 02, 2024
Chancery OKs $345M Fee Award For $55B Musk Pay Fight
Delaware's chancellor approved a $345 million attorney fee award Monday in the case that scuttled Tesla CEO Elon Musk's 10-year, $55.6 billion compensation plan, rejecting the plaintiff's bid for $5.6 billion in freely tradable company shares and declining to reinstate Musk's proposed pay.
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December 02, 2024
Healthcare Biz Atty Rejoins Dentons As Partner In Dallas
Dentons announced Monday that an attorney who spent years in-house in the healthcare industry has rejoined the firm as a partner in Dallas to enhance its efforts servicing clients in health insurance regulation and other healthcare matters.
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December 02, 2024
'Malicious' Intent Testimony Nixed From Blank Rome Suit
A Pennsylvania federal judge on Monday prohibited certain expert witnesses from opining on the alleged "malicious" intent an aircraft parts maker, represented by Blank Rome LLP, had when suing a onetime defense attorney who defected to the plaintiffs bar.
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December 02, 2024
The Top In-House Hires Of November
Legal department moves in the last month included high-profile announcements at CSX Corp., Cohen & Steers Inc. and Pershing Square Holdings Ltd., including two general counsel joining boards of directors. Here, Law360 Pulse looks at some of the top in-house appointments from November.
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December 02, 2024
Australia Passes Public Country-By-Country Reporting
Multinational businesses with large operations in Australia are required to publicly disclose information about their operations in tax havens as designated by the government under a country-by-country reporting law that lawmakers adopted following a two-year saga over concerns about the data's confidentiality.
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December 02, 2024
Bankrupt Dental Co. To Repay Customers $4.8M, NY AG Says
Dental telehealth company SmileDirectClub has agreed to pay $4.8 million in refunds to customers who were improperly charged after the company went bankrupt and shut down in 2023, according to a settlement announced Monday by New York Attorney General Letitia James.
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December 02, 2024
Ex-Parexel Worker Says Vax Rule Lacked 'Informed Consent'
A former employee of clinical research firm Parexel International says the company's COVID-19 vaccine requirement was a breach of contract because she and other workers did not have the option of giving informed consent for what she calls an "experimental medical treatment," according to a lawsuit filed in Massachusetts state court.
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December 02, 2024
Shipping Industry Braces For Waves Of New Trump Tariffs
After a holiday weekend marked by a fresh round of tariff threats from President-elect Donald Trump, the shipping and logistics industry is beginning to feel the heat, warning companies to prepare for massive upheaval if Trump follows through.
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December 02, 2024
Bochner Litigator Jumps To Gordon Rees In Bay Area
Gordon Rees Scully Mansukhani LLP is deepening its California bench, bringing in a Bochner PLLC litigation and transactional attorney as a partner in its San Francisco Bay Area offices.
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November 27, 2024
Google Wants 9th Circ. To Undo Play Store Ruling In Epic Row
Google has pressed the Ninth Circuit to reverse an injunction forcing it to allow third-party app distribution on its Play Store, arguing that the lower court's ruling will "directly undercut Google's efforts to compete against Apple and the iPhone."
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November 27, 2024
Starbucks, Baker Botts Partner Accused Of Defaming Inventor
An executive for a patent-licensing company that's pursuing infringement litigation against numerous restaurants over a patent that lets customers place mobile orders using a real-time menu that can make personalized suggestions accused Starbucks and its Baker Botts LLP attorney in a lawsuit Wednesday of making defamatory statements about him.
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November 27, 2024
Prudential Website Visitors Get Class Cert. In Tracking Row
A California federal judge has certified a class of life insurance quote seekers who are accusing Prudential Financial Inc. and its software vendor of illegally recording their keystrokes and information, finding that questions about website visitors' knowledge of this practice can be resolved on a classwide basis.
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November 27, 2024
A Look Back At Years Of Zantac Litigation: Timeline
After the U.S. Food and Drug Administration raised a red flag five years ago that heartburn drug Zantac and its generics contained levels of a chemical that could cause cancer, litigation kicked off in federal and state courts. Here, Law360 presents a timeline of the lawsuits, trials and settlements that ensued.
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November 27, 2024
Deloitte Posed As Consultant To Steal Vax Software, Suit Says
An inventor has accused Deloitte Consulting LLP in New York federal court of stealing her proprietary vaccination management system and securing a multimillion-dollar government contract for rolling out COVID-19 vaccines, saying the firm colluded with the Centers for Disease Control and Prevention to pilfer the technology.
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November 27, 2024
Zurich Defeats Burlington's $750M COVID-19 Coverage Suit
Zurich American has permanently defeated Burlington Stores' COVID-19 pandemic coverage suit after a New Jersey federal judge said the retailer's attempt to use "clever semantics to avoid dismissal" failed to demonstrate it suffered direct physical loss or damage to its property, or that virus particles physically altered objects or surfaces.
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November 27, 2024
Zoom Offers SEC $18M To Settle 2020 Privacy Probe
Zoom Communications disclosed in a U.S. Securities Exchange and Commission filing that it has offered $18 million to settle an agency investigation into "various security, data protection and privacy matters," including the videoconferencing platform's encryption.
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November 27, 2024
Elon Musk Targets CFPB With Call To 'Delete' Agency
Billionaire Elon Musk has called for abolishing the Consumer Financial Protection Bureau, writing on his social media platform X — formerly known as Twitter — that the government should "Delete CFPB" and "there are too many duplicative regulatory agencies."
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November 27, 2024
Citi Gets TRO On Banker Accused Of Poaching Atty Clients
A California federal judge on Tuesday granted Citibank NA's request for a temporary restraining order against one of its former bankers who it alleges jumped to a rival with confidential information on law firm and attorney clients, but denied the request regarding a second banker as "too speculative."
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November 27, 2024
DOL Sued For OSHA Info In NJ Amazon Warehouse Deaths
The U.S. Department of Labor has been hit with a lawsuit by a labor advocate seeking records related to investigations of three deaths at Amazon.com Inc.'s "notoriously hazardous warehouses" in New Jersey in 2022, saying the agency failed to comply with Freedom of Information Act deadlines.
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November 27, 2024
Fox Again Slips Defamation Suit, This Time From Jan. 6 Figure
Fox News on Wednesday escaped a Delaware federal court defamation lawsuit from a man who claimed the network made him the "scapegoat" for the Jan. 6, 2021, riot at the U.S. Capitol.
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November 27, 2024
Law Profs Tell Del. Justices Moelis Appeal Would Blunt DGCL
Fourteen law professors have urged Delaware's Supreme Court to reject what they branded as a corporate bar effort to use an appeal from a Chancery Court ruling — potentially mooted for future claims by a new law — in order to "enact a sweeping transformation of the way that Delaware's corporate law gets made."
Expert Analysis
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Takeaways From TOTSA Settlement And Critical CFTC Dissent
The U.S. Commodity Futures Trading Commission's recent settlement with TOTSA highlights the agency's commitment to enforcing market integrity and deterring manipulative practices, while Commissioner Caroline Pham's dissent to the settlement spotlights the need for transparency and consistency in enforcement actions, say attorneys at Davis Wright.
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Building US-Japan Relationships In The M&A Market
The prospect of U.S.-Japanese mergers and acquisitions presents stronger competition to U.S. investors in the global M&A markets, while also opening up an additional exit route for sellers looking to offload strategic assets, says Nick Wall at A&O Shearman.
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Litigation Inspiration: Honoring Your Learned Profession
About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.
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From Concept To Capital: 5 Stages Of Evolving IP Needs
Companies must understand the shifting intellectual property needs throughout an organization’s life cycle in order to protect innovation, which can be done by fortifying the IP portfolio, expanding and leveraging IP assets, and more, says Keegan Caldwell at Caldwell Law.
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Series
In The CFPB Playbook: No Lazy, Hazy Days Of Summer
The Consumer Financial Protection Bureau is headed for a brisk fall season, on the heels of a heated summer, which included the U.S. Supreme Court's ruling that the CFPB funding structure is constitutional, and in advance of the November election, says Eamonn Moran at Holland & Knight.
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FTC Focus: How Scrutiny Of PBMs And Insulin May Play Out
Should Express Scripts' recent judicial challenge to the Federal Trade Commission succeed, any new targets could add litigation and choice of forum to their playbooks, and potential FTC court action on insulin could be forced to parallel venues as the issues between the commission and PBMs evolve, say attorneys at Proskauer.
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Opinion
AI May Limit Key Learning Opportunities For Young Attorneys
The thing that’s so powerful about artificial intelligence is also what’s most scary about it — its ability to detect patterns may curtail young attorneys’ chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.
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A Class Action Trend Tests Limit Of Courts' Equity Powers
A troubling trend has developed in federal class action litigation as some counsel and judges attempt to push injunctive relief classes under Rule 23(b)(2) of the Federal Rules of Civil Procedure beyond the traditional limits of federal courts' equitable powers, say attorneys at Jones Day.
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Antitrust Issues To Watch Amid Google Ad Tech Trial
Regardless of the outcome of the U.S. Department of Justice's advertising technology antitrust suit against Google in Virginia federal court, matters ranging from market definition to unified pricing will likely have far-reaching implications for the digital advertising industry, competition and innovation, say attorneys at Holland & Knight.
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Key Takeaways From DOJ's New Corp. Compliance Guidance
The U.S. Department of Justice’s updated guidance to federal prosecutors on evaluating corporate compliance programs addresses how entities manage new technology-related risks and expands on preexisting policies, providing key insights for companies about increasing regulatory expectations, say attorneys at Debevoise.
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What To Know About Latest Calif. Auto-Renewal Law Update
While businesses have about nine months to prepare before the recently passed amendment to California's automatic renewal law takes effect, it’s not too early to begin working on compliance efforts, including sign-up flow reviews, record retention updates and marketing language revisions, say Gonzalo Mon and Beth Chun at Kelley Drye.
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How Lucia, Jarkesy Could Affect Grocery Merger Challenge
While the Federal Trade Commission is taking a dual federal court and administrative tribunal approach to block Kroger's merger with Alberstons, Kroger's long-shot unconstitutionality claims could potentially lead to a reevaluation of the FTC's reliance on administrative processes in complex merger cases, say attorneys at Saul Ewing.
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Kubient Case Shows SEC's Willingness To Charge Directors
The U.S. Securities and Exchange Commission's recent fraud charges against Kubient's former CEO, chief financial officer and audit committee chair signal a willingness to be more aggressive against officers and directors, underscoring the need for companies to ensure that they have appropriate channels to gather, investigate and document employee concerns, say attorneys at Jenner & Block.
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$200M RTX Deal Underscores Need For M&A Due Diligence
RTX's settlement with regulators for violating defense export regulations offers valuable compliance lessons, showcasing the perils of insufficient due diligence during mergers and acquisitions transactions along with the need to ensure remediation measures are fully implemented following noncompliance, say Thad McBride and Faith Dibble at Bass Berry.
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3 Coverage Tips As 2nd Circ. 'Swipes Left' On Tinder Claim
The Second Circuit's recent opinion in Match Group v. Beazley Underwriting, overturning Tinder's victory on its insurer's motion to dismiss a coverage action, reinforces three best practices policyholders purchasing claims-made coverage should adhere to in order to avoid late-notice defenses, say Lynda Bennett and Alexander Corson at Lowenstein Sandler.