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Corporate
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July 18, 2024
5th Circ. Remands ESG Rule Row Citing Chevron's End
The Fifth Circuit on Thursday instructed a Texas federal court to reconsider a Biden administration rule allowing retirement plan advisers to consider environmental, social and governance factors when choosing investments, pointing to recent U.S. Supreme Court rulings that have "upended" the legal landscape.
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July 18, 2024
Grindr Faces Privacy Suit By Prominent 'Outed' Catholic Priest
Gay dating app Grindr allegedly sold a prominent Catholic priest's sensitive personal information, causing him to lose his position as the general secretariat for the national conference of U.S. bishops, the priest alleged in a lawsuit seeking damages in California state court.
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July 18, 2024
Crypto Law Firm's SEC Challenge Met With Doubt At 9th Circ.
A Ninth Circuit panel appeared skeptical Thursday of a law firm's quest for a judgment that its use of the crypto asset ether doesn't offend securities laws, questioning whether the firm has shown it faces enough of a threat from the U.S. Securities and Exchange Commission to keep its case against the regulator alive.
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July 18, 2024
American Airlines Beats Hidden Fees Suit Over Product Sales
American Airlines defeated a proposed class action alleging it violated its conditions of carriage by failing to disclose that it gets fees for hawking Allianz Global travel assistance products to customers booking flights, after a Michigan federal judge said Thursday the plaintiff paid Allianz Global, not American Airlines, for the products.
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July 18, 2024
Chancery Awards $6M Stockholder Atty Fee In Moelis Suit
A Delaware vice chancellor granted a $6 million fee request on Thursday from attorneys who won a Chancery Court strike-down of a stockholder agreement granting Moelis & Co. founder Ken Moelis expansive control over the global investment bank's decisions.
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July 18, 2024
Epic Says Apple's 'Strategic Delay' Tactics Still Ongoing
The ongoing fight between Epic Games and Apple over the tech giant's compliance with a court order meant to open up app payment competition showed little sign of abating as Epic continued to blast Apple for slow and incomplete production.
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July 18, 2024
Texas IP Firm Fights Microsoft With Dueling Sanctions Bid
Prolific patent litigator Bill Ramey has pushed back against Microsoft's bid to sanction his law firm in Texas federal court, filing his own sanctions motion that claims the tech giant and its attorney "gleefully" filed an improper declaration in the case to defame him and his firm.
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July 18, 2024
Enviro Groups Deploy Chevron Ruling In Pipeline Case
Environmental groups suing the federal government over the reissuance of a nationwide Clean Water Act permit that can be used for oil and gas pipelines told a D.C. federal judge Thursday that the recent overturning of the Chevron deference bolsters their effort to get the permit thrown out.
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July 18, 2024
Judge Won't Pause Sanctions In Byju's Ch. 11
A Delaware district court Thursday ruled hedge fund Camshaft Capital Fund LP cannot hold off a contempt order from a Delaware bankruptcy court in the Chapter 11 case of Byju's Alpha while it appeals the sanctions, finding that it could avoid sanctions if it complied with a court order.
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July 18, 2024
Biopharma Shareholder Sues In Del. For Docs On Akeso Deal
A shareholder of Summit Therapeutics Inc. sued the Florida biopharmaceutical company in Delaware's Court of Chancery on Thursday, seeking corporate records to investigate whether a $520 million financing arrangement connected to a partnership with Akeso Inc. benefited the company's co-CEOs at the expense of public stockholders.
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July 18, 2024
CEO Firing Case Tied To Mogul Going To Mediation
A former chief executive and a European IT company tied to convicted mogul Greg Lindberg will head to mediation as part of a back-and-forth case involving allegations of firing without warning and spending company money on women's lingerie.
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July 18, 2024
Ex-Cop With Illness Spared Prison In EBay Harassment Case
A federal judge on Thursday agreed to spare a former California police captain and eBay employee from prison for a stalking and harassment campaign against two Massachusetts journalists, citing the defendant's cancer diagnosis and blaming the ordeal on "a warped corporate culture."
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July 18, 2024
GSK, Boehringer Face Jurors Again On Zantac Cancer Claims
GlaxoSmithKline and Boehringer Ingelheim returned to Illinois state court Thursday, where they face separate juries to defend against Zantac users' claims that the drug caused them to develop cancer.
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July 18, 2024
Air Transport Co. Sued In Del. Over Director Removal Rule
Stockholders of air transport venture Blade Air Mobility Inc. have sued the company in Delaware's Court of Chancery for an order invalidating a Blade director election provision described as allowing "backdoor" board removal of incumbents without legal authority.
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July 18, 2024
Chancery Strains To Unwrap Shareholder's Amazon Order
A Delaware Chancery Court vice chancellor struggled on Thursday to wrap her head around a shareholder's demand for corporate documents to probe antitrust allegations at Amazon.com Inc. after a magistrate's report found the shareholder had not presented enough evidence to force the retailer to open its books.
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July 18, 2024
NJ Ex-Broker-Dealer Indicted In $3.4M Insider Trading Scheme
A former partner at a Garden State broker-dealer was charged in New Jersey federal court with engaging in an insider trading scheme that brought him $3.4 million in illicit trading profits, according to the U.S. attorney's office.
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July 18, 2024
Owner Of Ex-Sports Illustrated Publisher Wants Out Of Suit
The majority owner of Sports Illustrated's onetime publisher is hoping to exit a suit filed by an executive who was fired from the company, arguing he had nothing to do with terminating his employment and defending the denial of a severance package.
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July 18, 2024
American Airlines Hit With Class Action Over Sales Strategy
An investor launched a proposed class action against American Airlines over the company's botched sales and distribution strategy, saying that American touted its strategy as driving revenue while hiding the fact that the strategy was "driving customers away" in a Texas federal court on Thursday.
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July 18, 2024
Another Enphase Investor Suit Claims Execs Hid Slow Growth
Enphase Energy's top brass has been slapped with another shareholder complaint in California federal court, alleging they misrepresented the energy technology company's financial outlook by concealing a decrease in battery shipments and slower manufacturing outputs, which artificially inflated its stock price.
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July 18, 2024
Healthcare Co. Says Fired In-House Atty Lacks Standing To Sue
Kidney care company Panoramic Health has urged a Colorado federal judge to toss a former assistant general counsel's lawsuit that claims she was fired for raising concerns about violations of federal anti-kickback statutes.
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July 18, 2024
Tax Court Affirms IRS Whistleblower Award Computation
The Internal Revenue Service's Whistleblower Office did not abuse its discretion when it set an award at 22% of collected proceeds even though other awards tied to related claims were set at 30%, the U.S. Tax Court said Thursday.
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July 18, 2024
Ex-Venable Trusts And Estates Partner Joins Stradling In LA
Stradling Yocca Carlson & Rauth PC announced that it launched a trusts and estates practice with the hiring of an experienced Los Angeles-based partner from Venable LLP.
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July 18, 2024
Most Top US Cos. To Report Tax Under Aussie Bill, Study Says
Australia's Senate is expected to consider adoption next month of the world's most extensive public country-by-country reporting rules, which would require 51% of large U.S. multinational corporations to disclose tax arrangements retroactively from July 1, according to a study published Thursday.
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July 18, 2024
Womble Bond Adds Finance Atty With Latin America Focus
Womble Bond Dickinson's growing New York office is welcoming a capital markets and structured finance attorney after his more than 10 years with Hogan Lovells, most recently in Brazil.
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July 18, 2024
Del. Justices Asked To Undo Firm's 'Malicious' Suit Escape
Applied Energetics is asking the Delaware Supreme Court to revive a complaint alleging Gusrae Kaplan Nusbaum PLLC and a former partner filed a frivolous federal securities fraud suit in order to hobble other litigation against the company's former chief executive officer.
Expert Analysis
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Takeaways From EU's Initial Findings On Apple's App Store
A deep dive into the European Commission's recent preliminary findings that Apple's App Store rules are in breach of the Digital Markets Act reveal that enforcement of the EU's Big Tech law might go beyond the literal text of the regulation and more toward the spirit of compliance, say William Dolan and Pratik Agarwal at Rule Garza.
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25 Years Of OECD's Anti-Bribery Convention
Marking its 25th anniversary this year, the Organization for Economic Cooperation and Development's anti-bribery convention has advanced legislative reforms and reshaped corporate conduct in dozens of countries amid the persistent challenges of uneven enforcement and political pressure, say attorneys at Debevoise.
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Cyber Incident Response Checklist For SEC Compliance
In light of recent guidance from the U.S. Securities and Exchange Commission, which clarified the distinction between two types of cybersecurity incident disclosures, companies should align their materiality assessment, incident response and disclosure control processes to bolster compliance and provide a measure of protection, say attorneys at Troutman Pepper.
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Series
After Chevron: Bid Protest Litigation Will Hold Steady For Now
Though the substantive holding of Loper Bright is unlikely to affect bid protests because questions of statutory interpretation are rare, the spirit of the U.S. Supreme Court's decision may signal a general trend away from agency deference even on the complex technical issues that often arise, say Kayleigh Scalzo and Andrew Guy at Covington.
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Dueling Calif. Rulings Offer Insight On 401(k) Forfeiture Suits
Two recent decisions from California federal courts regarding novel Employee Retirement Income Security Act claims around 401(k) forfeitures provide early tea leaves for companies that may face similar litigation, offering reasons for both optimism and concern over the future direction of the law, say Ashley Johnson and Jennafer Tryck at Gibson Dunn.
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1 Year At The UPC: Implications For Transatlantic Disputes
In its first year, the Unified Patent Court has issued important decisions on procedures like provisional measures, but complexities remain when it comes to coordinating proceedings across jurisdictions like the U.S. due to differences in timelines and discovery practices, say attorneys at McDermott.
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Opinion
H-2 Visas Offer Humane, Economic Solution To Border Crisis
Congress should leverage the H-2 agricultural and temporary worker visa programs to match qualified migrants with employers facing shortages of workers — a nonpolitical solution to a highly divisive humanitarian issue, say Ashley Dees and Jeffrey Joseph at BAL.
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PAGA Reforms Encourage Proactive Employer Compliance
Recently enacted reforms to California's Private Attorneys General Act should make litigation under the law less burdensome for employers, presenting a valuable opportunity to streamline compliance and reduce litigation risks by proactively addressing many of the issues that have historically attracted PAGA claims, say attorneys at Mintz.
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Opinion
Now More Than Ever, Lawyers Must Exhibit Professionalism
As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.
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Series
After Chevron: Piercing FEMA Authority Is Not Insurmountable
While the Federal Emergency Management Agency's discretionary authority continues to provide significant protection from claims under the Administrative Procedure Act, Loper Bright is a blow to the argument that Congress gave FEMA unfettered discretion to administer its own programs, says Wendy Huff Ellard at Baker Donelson.
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A Look At State AGs Supermarket Antitrust Enforcement Push
The ongoing antitrust intervention by state attorneys general in the proposed Kroger and Albertsons merger suggests that states are straying from a Federal Trade Commission follow-on strategy in the supermarket space, which involved joining federal investigations or lawsuits and settling for the same divestment remedies, say attorneys at Troutman Pepper.
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How To Survive Shareholder Activism
In an era where shareholder activism is on the rise, companies must identify weaknesses, clearly communicate strategies, update board composition and engage with shareholders consistently in order to avoid disruptive shareholder activism and safeguard the interests of both the company and its shareholders, say J.T. Ho at Orrick and Greg Taxin at Spotlight Advisors.
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'Outsourcing' Ruling, 5 Years On: A Warning, Not A Watershed
A New York federal court’s 2019 ruling in U.S. v. Connolly, holding that the government improperly outsourced an investigation to Deutsche Bank, has not undercut corporate cooperation incentives as feared — but companies should not completely ignore the lessons of the case, say Temidayo Aganga-Williams and Anna Nabutovsky at Selendy Gay.
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Series
Serving In The National Guard Makes Me A Better Lawyer
My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.
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Big Business May Come To Rue The Post-Administrative State
Many have framed the U.S. Supreme Court’s recent decisions overturning Chevron deference and extending the window to challenge regulations as big wins for big business, but sand in the gears of agency rulemaking may be a double-edged sword, creating prolonged uncertainty that impedes businesses’ ability to plan for the future, says Todd Baker at Columbia University.