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April 11, 2025
GC Cheat Sheet: The Hottest Corporate News Of The Week
Former general counsel who signed an amicus brief in support of Perkins Coie's fight against the Trump administration shared with Law360 Pulse the details behind their decisions. Meanwhile, Florida's attorney general said the state will no longer tap law firms with DEI programs to serve as external counsel. These are some of the stories in corporate legal news you may have missed in the past week.
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April 11, 2025
Envestnet Sued For Docs On $4.5B Bain Capital Deal In Del.
A former trust investor in wealth and data management giant Envestnet Inc. sued in Delaware's Court of Chancery on Thursday for access to books and records on the company's $4.5 billion take-private deal with Bain Capital last year, citing concerns over both price and potential conflicts.
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April 10, 2025
Trump Floats Using Firms That Cut Deals For Trade Dealings
President Donald Trump said during a Cabinet meeting Thursday that he wants to use BigLaw firms that have reached deals with the White House to "help us out" with making trade deals, telling Cabinet members, "I have a lot of legal fees I can give to you people, and we may as well use them."
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April 10, 2025
9th Circ. Open To Sending Invisalign Antitrust Suit To Trial
Two Ninth Circuit judges appeared open on Thursday to reversing Align's summary judgment win against a pair of class actions accusing Invisalign of monopolizing the clear braces and teeth scanners market, with one judge saying there is a triable factual dispute and another judge doubting Align's interpretation of antitrust law.
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April 10, 2025
Ex-Ill. Bank Exec Charged With $2M Check-Kiting Scheme
A former Illinois regional bank executive faces federal charges that he defrauded his employer out of nearly $2 million in a check-kiting scheme that falsely inflated his personal account at the bank by depositing checks from other accounts with insufficient funds.
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April 10, 2025
Netchoice Wants New Calif. Online Marketplace Law Blocked
Big Tech trade group Netchoice LLC has asked a California federal court to block a new Golden State law requiring online marketplaces to collect information from third-party sellers and report those selling stolen goods, claiming the "onerous" measure will "impose unprecedented and unconstitutional burdens on widely used online services."
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April 10, 2025
7th Circ. Probes Muldrow's Impact On United Age Bias Battle
The Seventh Circuit grappled Thursday with whether the U.S. Supreme Court's landmark Muldrow decision meant it should revive a former United Airlines worker's age bias suit, pondering whether a negative performance review could be the basis for a valid discrimination case.
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April 10, 2025
BASF Accuses Duracell Of Stealing Lithium Battery Secrets
Duracell is being accused by chemical company BASF Corp. of stealing trade secrets about its lithium battery technology after gaining access to the information through a cooperation agreement, according to a lawsuit unsealed in Delaware federal court.
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April 10, 2025
Expedia Forced Restroom Spy Cam Victim To Quit, Suit Says
A former Expedia Inc. employee who was the victim of voyeurism via a bathroom spy camera at work alleges in a complaint filed in Washington state court that she was forced to resign after the company retaliated against her for wanting to work from home after the incident.
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April 10, 2025
Bakery Sellers Seek $2M Award From Buyer After Deal Sours
Three companies have hit a bakery investment firm with a lawsuit over its sale of a string of Koffee Kup bakeries in Northeastern states, saying in a Connecticut federal court brief that they are due $2 million under an arbitration award.
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April 10, 2025
SEC Urged To Look At FINRA's 'Unprecedented' Review Delay
Shareholders of Entrex Carbon Market Inc. have urged the U.S. Securities and Exchange Commission to review what they say is the Financial Industry Regulatory Authority's harmful failure to act on the carbon offset trading platform's requests for a name change and approval of stock splits.
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April 10, 2025
Oracle Wins Bid To Keep Trade Secret Case Out Of Arbitration
Oracle doesn't have to arbitrate its trade secret case against a former employee accused of absconding to a rival with confidential information related to enterprise resource planning applications, after a California federal judge said Wednesday he signed a proprietary information contract that says such issues could be litigated in court.
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April 10, 2025
Trump Order Calls For Faster, More Flexible Defense Contracts
President Donald Trump has ordered the U.S. Department of Defense to prioritize commercial items and flexible acquisition authorities to speed up defense contracting, and review over-budget and lagging defense programs for potential cancellation.
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April 10, 2025
Chinese Tea Chain Serves Up IPO Plans In Rocky Market
Chinese teahouse company Chagee Holdings Ltd., represented by Davis Polk & Wardwell LLP and underwriters' counsel Cleary Gottlieb Steen & Hamilton LLP, on Thursday unveiled plans for an estimated $396 million initial public offering, joining a volatile IPO market rocked by uncertainty over President Donald Trump's tariff policy.
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April 10, 2025
NY AG Calls For 'Common-Sense' Rules In Crypto Legislation
New York Attorney General Letitia James sent a letter to leaders of both chambers of Congress on Thursday urging them to ensure that any crypto legislation includes strong guardrails to protect consumers, national security and market stability.
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April 10, 2025
Binance A Crypto Laundering 'Get-Away Driver,' Suit Says
A group of cryptocurrency owners who said they were targeted by online thieves and ransomware have filed a proposed class action alleging the cryptocurrency exchange Binance ran a loose ship that provided the cybercriminals with a platform to launder and hide the stolen property.
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April 10, 2025
Amazon CEO, Bain Take Spotlight Amid Recent Rumors
Private equity firm Bain Capital agrees to purchase Sizzling Platter for $1 billion, SC Capital is eyeing British data center group Global Switch in a potential $5 billion deal, and Amazon CEO Andy Jassy addresses a rumored Amazon bid. Here, Law360 breaks down these and other rumor-related developments from the past week.
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April 10, 2025
Trump's Int'l Trade Pick Says Tech Deals Sought In Tariff Talks
President Donald Trump could look to prioritize and coordinate tech investments with countries approaching the U.S. to strike a deal to avoid higher tariff rates currently suspended, Trump's pick to lead international trade at the U.S. Department of Commerce said Thursday.
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April 10, 2025
Judge Approves Sale Of Ex-Riverfront CFO's Detroit Bar
A former chief financial officer who pled guilty to stealing tens of millions of dollars from a Detroit nonprofit got a federal judge's approval Wednesday to sell his nightclub as he faces paying a $45.5 million restitution bill.
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April 10, 2025
Fired Gas Co. CFO Offers To Settle Conn. Suit For $1.7M
The former chief financial officer of Hocon Gas Inc. will accept $1.7 million to drop his lawsuit against the company and its owner over alleged unpaid phantom shares and retaliatory firing, according to a filing in Connecticut Superior Court.
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April 10, 2025
Ex-EBay Execs Want To Question Key Stalking Case Witness
Three former eBay executives facing claims they helped direct a campaign to harass bloggers critical of the company have told a Massachusetts federal judge they want to question a key witness about his past role as an undercover government agent.
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April 10, 2025
Mondelez In-House Atty Returns To Ogletree Deakins In NJ
Ogletree Deakins Nash Smoak & Stewart PC's Morristown, New Jersey, office this week has welcomed back a former partner with 15 years of legal experience who left the firm for an in-house role at the food company Mondelez International.
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April 10, 2025
Ex-PE Fund CEO Rejoins Legal Field As Nelson Mullins Partner
After spending over a decade serving as president and CEO of an international private equity fund, corporate partner Hendrik Jordaan has jumped back into the legal field, joining Nelson Mullins Riley & Scarborough LLP's mergers and acquisitions practice in the firm's Denver office.
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April 10, 2025
Judge On Bid To Redo Wawa Breach Atty Fees: 'I Don't Buy It'
A Third Circuit panel on Thursday considering a class member's request to reconsider a $3.2 million attorney fee award in the Wawa data breach litigation seemed unconvinced of the argument that the number was the result of side-dealing attorneys, with one judge telling counsel, "I don't buy it."
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April 10, 2025
Fox Can't Depose LinkedIn Founder In $2.7B Smartmatic Case
A New York state judge Thursday denied Fox News' request to depose LinkedIn founder and Democratic donor Reid Hoffman about his investment in Smartmatic, but allowed limited questioning of his adviser as part of the voting company's $2.7 billion defamation case stemming from false claims that it helped rig the 2020 election.
Expert Analysis
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Series
Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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6 Principles For De-Risking In This Era Of Uncertainty
Companies can emerge from the current period of disruptive transformation stronger than ever by embracing strategies that enable them to methodically evaluate risk, adapt to change without losing purpose, focus on customer value and find competitive advantages amid uncertainty, says David McVeigh at Axiom.
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What 2nd Trump Admin Means For Ship Pollution Compliance
As the second Trump administration's civil and criminal enforcement policies take shape, the maritime industry must ensure it complies with both national and international obligations to prevent oil pollution from seagoing vessels — with preventive efforts and voluntary disclosures being some of the best options for mitigating risk, say attorneys at Holland & Knight.
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23andMe Case Highlights Privacy Complexities In Ch. 11
Attorneys at Pryor Cashman discuss the interplay between a sale of personally identifiable information and bankruptcy law in light of genetics and health company 23andMe's recent filing for Chapter 11 relief.
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Mass. AG Emerges As Key Player In Consumer Protection
Through enforcement actions and collaborations with other states — including joining a recent amicus brief decrying the defunding of the Consumer Financial Protection Bureau — Massachusetts Attorney General Andrea Campbell has established herself as a thought leader for consumer protection and corporate accountability, say attorneys at Troutman Pepper.
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SEC Confidential Review Process Provides Issuers Flexibility
The U.S. Securities and Exchange Commission's recently announced enhancements to the process for confidentially submitting draft registration statements will be immediately impactful for issuers seeking to access the public capital markets, and should provide more grounds to explore and plan public offerings, say attorneys at Lowenstein Sandler.
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Series
Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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Measuring And Mitigating Harm From Discriminatory Taxes
In response to new tariffs and other recent "America First Trade Policy" pronouncements, corporations should assess and take steps to minimize their potential exposure to discriminatory and reciprocal tax measures that are likely to come, say economists at Charles River Associates.
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How Del. Law Rework Limits Corporate Records Requests
Newly enacted amendments to a section of the Delaware General Corporation Law that allows stockholders and beneficial owners to demand inspection of Delaware corporations' books and records likely curtails the scope of such inspections and aids defendants in framing motions to dismiss at the pleading stage, says Jonathan Richman at Brown Rudnick.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q1
Among the most notable developments in California banking in the first quarter of the year, regulators and legislators issued regulations interpreting debt collection laws, stepped up enforcement actions, and expanded consumer protections for those affected by wildfires, says Stephen Britt at Severson & Werson.
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How The ESG Investing Rule Survived Loper Bright, For Now
A Texas federal court's recent decision in Utah v. Micone upholding the U.S. Department of Labor's 2022 ESG investing rule highlights how regulations can withstand the post-Loper Bright landscape when an agency's interpretation of its statutorily determined boundaries is not granted deference, say attorneys at Miller & Chevalier.
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Series
Adapting To Private Practice: From DOJ Leadership To BigLaw
The move from government service to private practice can feel like changing one’s identity, but as someone who has left the U.S. Department of Justice twice, I’ve learned that a successful transition requires patience, effort and the realization that the rewards of practicing law don’t come from one particular position, says Richard Donoghue at Pillsbury.
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In-House Expert Testimony Is Tricky, But Worth Considering
Litigation counsel often reject the notion of designating in-house personnel to provide expert opinion testimony at trial, but dismissing them outright can result in a significant missed opportunity, say David Ben-Meir at Ben-Meir Law and Martin Pitha at Lillis Pitha.
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Issues To Watch At ABA's Antitrust Spring Meeting
Attorneys at Freshfields consider the future of antitrust law and competition enforcement amid agency leadership changes and other emerging developments likely to dominate discussion at the American Bar Association's Antitrust Spring Meeting this week.
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Series
NY Banking Brief: All The Notable Legal Updates In Q1
The most noteworthy developments from the first quarter of the year in New York financial services include newly proposed regulations on overdraft fees, a groundbreaking settlement by the state attorney general, and a potentially precedent-setting opinion regarding the Electronic Fund Transfer Act, say attorneys at Quinn Emanuel.