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Corporate
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November 12, 2024
American Airlines Escapes Pandemic Early Retirement Suit
A Texas federal court on Tuesday agreed to permanently toss a group of flight attendants' suit against American Airlines Inc. alleging they were misled into taking a less favorable retirement package during the height of the COVID-19 pandemic, finding a suit dismissed earlier over the same conduct bars their claims.
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November 12, 2024
Chipotle's Portions Are Eating Away Profits, Investor Suit Says
Fast-casual restaurant chain Chipotle has been hit with a proposed shareholder class action alleging the company downplayed concerns about meager portion sizes, an issue the company later acknowledged it would correct, sacrificing profitability.
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November 12, 2024
Developers Seek Dual $15M Deals In Conn. Mixed-Use Case
A pair of companies connected to Connecticut developers Paxton Kinol and Brandon E. Lacoff have indicated that they'd be willing to accept two settlements of $15 million each to end their accusations that investors diverted $293.5 million in sale proceeds through a self-serving transfer agreement.
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November 12, 2024
Pencil Importer Rebuts Commerce's Transformation Analysis
A pencil importer told the U.S. Court of International Trade that the federal government was wrong to implement duties on pencils made from Chinese raw materials when they are made into finished products in the Philippines.
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November 12, 2024
Amazon Harassing Drivers Via Discovery Demand, Court Told
Amazon is harassing delivery drivers with an overly broad request for documents, including a decade's worth of tax returns and cellphone records, and its request should be tailored to reflect that many claims in an 8-year-old lawsuit were recently nixed, the workers told a Washington federal court.
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November 12, 2024
Former FTX Top Atty Joins Lowenstein Sandler In NY
Lowenstein Sandler LLP announced Tuesday that the former general counsel at crypto exchange FTX will join the firm's New York office as a partner and chair of its new commodities, futures and derivatives practice group.
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November 12, 2024
Paul Hastings Commits To Texas With New Office Leases
More than 12 years after first hanging a shingle in Houston and months after opening a Dallas outpost, Paul Hastings announced Tuesday that it had ambitious plans to continue its recent expansion in Texas with the signing of two commercial leases to boost the firm's capabilities in the Lone Star State.
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November 12, 2024
Deloitte In-House Atty Joins Foley & Lardner In LA
Jose Sanchez, a former senior trial counsel in the U.S. Securities and Exchange Commission's Enforcement Division, has joined Foley & Lardner's Los Angeles office following nearly six years in Deloitte's office of the general counsel.
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November 12, 2024
Vidal To Leave USPTO For Private Sector
U.S. Patent and Trademark Office Director Kathi Vidal is stepping down from her role at the agency and will be heading back to the private sector in mid-December, she said in a Tuesday letter.
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November 12, 2024
Skadden Adds Former Solar Company General Counsel In DC
Skadden Arps Slate Meagher & Flom LLP has hired the former general counsel of solar company Summit Ridge Energy to beef up its energy and infrastructure practice in Washington, D.C., the firm announced on Tuesday.
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November 12, 2024
Freddie Mac Gets Partial Win In SEC Probe Coverage Dispute
Government-backed mortgage buyer Freddie Mac cannot obtain coverage solely because its employees received subpoenas from the U.S. Securities and Exchange Commission, a D.C. federal court ruled while also holding that the lender's excess insurers cannot challenge a lower-layer insurer's coverage determination.
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November 12, 2024
DOJ Suing To Block UnitedHealth Unit's $3.3B Amedisys Deal
The U.S. Department of Justice and four U.S. states filed a lawsuit Tuesday seeking to block UnitedHealth Group's Optum unit from going through with its planned $3.3 billion purchase of Amedisys Inc., arguing the deal will harm competition in the home health and hospice services.
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November 12, 2024
FTX Sues Binance, Former CEO Zhao Seeking $1.8B Clawback
The estate of fallen cryptocurrency exchange FTX has sued Binance and its former CEO Changpeng Zhao to recover $1.76 billion it says the defunct company illegally transferred prior to its collapse two years ago, alleging FTX used customer money to complete a share repurchase that it couldn't otherwise afford.
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November 12, 2024
LIV Golf Taps New Top Atty As PGA Tour Deal Saga Persists
Saudi Arabia-backed upstart golf league LIV Golf, which last year agreed to combine with the PGA Tour in a bombshell move to end antitrust and contract litigation between them, on Tuesday announced that it had hired a chief legal officer.
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November 12, 2024
TikTok Refused To Pay Sales Reps Overtime, Court Told
TikTok misclassified its inside sales representatives as overtime-exempt and declined to pay them overtime wages despite their often clocking in far more than 40 hours per week, two former employees told a California federal court.
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November 12, 2024
Trump's NY Case Paused As DA Weighs Impact Of Election
A New York state judge agreed to a joint motion to freeze the proceedings in Donald Trump's hush money case following his electoral victory last week, allowing the Manhattan district attorney time to brief the court on "appropriate steps going forward."
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November 12, 2024
High Court Turns Away Appeal From 'Insider' Hedge Fund
The U.S. Supreme Court on Tuesday declined to take up hedge fund Raging Capital Management LLC's petition to review whether its status as a large investor in 1-800-Flowers should leave it vulnerable to a derivative suit claiming it made illegal swing-trades.
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November 18, 2024
Davis Polk Hires Sidley Restructuring Heads In London
Davis Polk & Wardwell LLP has hired two restructuring experts as partners in its London office, where they will advise a wide range of clients on financially troubled companies.
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November 08, 2024
Apple Didn't Hire Cercacor CTO To Steal Watch IP, Ex-VP Says
A retired Apple executive defended the tech giant Friday in Masimo's trade secret suit over pulse oximetry technology, testifying in California federal court that Apple didn't hire a Masimo spinoff's chief technology office in order to obtain confidential information for the Apple Watch and never received any such information.
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November 08, 2024
1st Circ. Affirms Order Ending Jet Blue-American Partnership
The First Circuit backed a lower court decision blocking a partnership between JetBlue and American Airlines that it found substantially diminished competition in the domestic air travel market, saying it found no error in the district judge's thorough review of the deal that could revive the venture.
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November 08, 2024
Real Estate Recap: Trump, Big 4, Office Demand?
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including how the next Trump administration could affect commercial real estate, where the Big Four brokers saw traction in Q3 and an interesting anomaly in the distressed office market.
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November 08, 2024
BCBS Hit With $12.7M Verdict In Worker's Vax Mandate Suit
A Michigan federal jury on Friday awarded $12.69 million to a former Blue Cross Blue Shield of Michigan employee who said she was fired after her employer failed to accommodate her religious beliefs, which she said prevented her from getting the COVID-19 vaccine.
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November 08, 2024
Telefónica Venezuela Unit To Pay $85.3M To End FCPA Probe
A Telefónica SA's Venezuela subsidiary has agreed to pay $85.26 million to resolve a Foreign Corrupt Practices Act criminal investigation alleging the Spanish telecommunications giant bribed Venezuelan officials with cash, a Caribbean vacation and expensive jewelry to fix an auction swapping local currency for stronger U.S. dollars, prosecutors announced.
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November 08, 2024
Employment Authority: How Trump's Win May Impact NLRB
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage of how President-elect Donald Trump's second term could affect the National Labor Relations Board, lead to limits on workplace diversity, equity and inclusion programs and cause shifts in wage-and-hour policies that favor employers.
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November 08, 2024
Fla. Apparel Distributor Sues Gap Over $378M Bait-And-Switch
A South Florida-based apparel distribution company has brought a $378 million counter-complaint against Gap Inc. in California state court, alleging the clothing retailer threatened to sabotage an initial public offering after pulling a bait-and-switch by sending millions of dollars of oversized, unsellable garments and ruin relationships with existing customers.
Expert Analysis
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How Companies Are Approaching Insider Trading Policies
An analysis of insider trading policies recently disclosed by 49 S&P 500 companies under a new U.S. Securities and Exchange Commission rule reveals that while specific provisions vary from company to company, certain common themes are emerging, say attorneys at Gibson Dunn.
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11 Patent Cases To Watch At Fed. Circ. And High Court
As we head into fall, there are 11 patent cases to monitor, touching on a range of issues that could affect patent strategy, such as biotech innovation, administrative rulemaking and patent eligibility, say Edward Lanquist and Wesley Barbee at Baker Donelson.
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Why India May Become A Major Patent Litigation Forum
India is reinventing itself with the goal of becoming a global hot spot for patent litigation, with recent developments at the Delhi High Court creating incentives for plaintiffs to assert patent rights in India, say Ranganath Sudarshan at Covington and IP litigator Udit Sood.
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Increased IPOs In '24 Shows Importance Of Strategic Planning
Initial public offerings, debt issuances and M&A activity so far in 2024 have shown substantial increases over comparable periods in 2023, highlighting why counsel should educate clients on market trends and financing alternatives to proactively prepare them to be ready to take advantage of opportunities, say attorneys at Skadden.
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How Methods Are Evolving In Textualist Interpretations
Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.
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The State Law Landscape After Justices' Social Media Ruling
Following the U.S. Supreme Court’s recent NetChoice ruling on social media platforms’ First Amendment rights, it’s still unclear if state content moderation laws are constitutional, leaving online operators to face a patchwork of regulation, and the potential for the issue to return to the high court, say attorneys at Crowell & Moring.
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Navigating New Enforcement Scrutiny Of 'AI Washing'
The U.S. Securities and Exchange Commission's recent lawsuit against Joonko Diversity, its first public AI-focused enforcement action against a private company, underscores the importance of applying the same internal legal and compliance rigor to AI-related claims as other market-facing statements, say attorneys at Fried Frank.
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Avoiding Corporate Political Activity Pitfalls This Election Year
As Election Day approaches, corporate counsel should be mindful of the complicated rules around companies engaging in political activities, including super PAC contributions, pay-to-play prohibitions and foreign agent restrictions, say attorneys at Covington.
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Why Attorneys Should Consider Community Leadership Roles
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.
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9 Liability Management Tips As Debt Maturity Cliff Looms
As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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5 Ways Life Sciences Cos. Can Manage Insider Trading Risk
In light of two high-profile insider trading jury decisions against life sciences executives this year, public companies in the sector should revise their policies to account for regulators' new and more expansive theories of liability, says Amy Walsh at Orrick.
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Series
A Day In The In-House Life: Narmi GC Talks Peak Productivity
On a work-from-home day in August, Narmi general counsel Amy Pardee chronicles a typical day in her life in which she organizes her time to tackle everything from advising on products and contract negotiations to volunteering and catching up on the New York Times crossword.
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How Cos. Can Leverage IP In Corporate Bankruptcy
In light of an increase in year-to-date Chapter 11 filings, businesses must understand the importance and value of intellectual property in corporate bankruptcy and restructuring, from contributing to enterprise value, to providing leverage in negotiations and facilitating recovery, says Gregory Campanella at Ocean Tomo.
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How Ripple Final Judgment Fits In Broader Crypto Landscape
The Southern District of New York's recent $125 million civil penalty levied in U.S. Securities and Exchange Commission v. Ripple will have a broad impact on the crypto industry as it was the first to hold that blind sales of digital assets are not securities, even if deemed securities in other circumstances, say attorneys at BakerHostetler.