Corporate

  • July 15, 2024

    Walgreens Investor Sues Over Challenged Pharmacy Division

    Walgreens Boots Alliance Inc. was hit with a proposed shareholder class action alleging it inflated share prices by concealing the lack of viability of its pharmacy division, which it eventually disclosed needed a major overhaul to become sustainable.

  • July 15, 2024

    CD&R Tells Del. Court Covetrus Sale 'Fully Informed'

    An attorney for private equity firm Clayton Dubilier & Rice LLC told a Delaware vice chancellor Monday that stockholders of animal health company Covetrus Inc. were fully informed when they approved a $21-per-share takeover by CD&R and TPG Capital in 2022, disputing allegations of knowing standstill agreement violations and disclosure failures.

  • July 15, 2024

    SEC Pans Database Privacy Challenge As Too Little, Too Late

    The U.S. Securities and Exchange Commission is looking to rid itself of a proposed class action targeting a market surveillance tool known as the consolidated audit trail, telling a Texas federal judge that shutting down a critical market stability tool 12 years after its creation would harm the public without providing any benefit to suing investors.

  • July 15, 2024

    Record Labels Sue Verizon Over Internet Users' File Sharing

    A group of the biggest music labels in the world is suing Verizon for allegedly profiting from what they call "pervasive" and "staggering" copyright infringement of the labels' music, saying in a complaint that the internet service provider "deliberately turned a blind eye" to music pirating on its network.

  • July 15, 2024

    Calif. Justices Nix 3 Charter Arb. Terms, Remand Severability

    The California Supreme Court held Monday that three of four challenged provisions in Charter Communications Inc.'s employee arbitration agreement are "substantively unconscionable" but remanded a worker's discrimination case back to the trial court to determine if those provisions can be severed and the agreement can still be enforced.

  • July 15, 2024

    Cybersecurity Investor Sues For Docs On PE Merger Wipeout

    California-based cybersecurity company Exabeam Inc. has been hit with a books and records request by a shareholder seeking to halt the company's private stock-for-stock merger with competitor LogRhythm, which is owned by private equity firm Thoma Bravo.

  • July 15, 2024

    Nike Suit Seeks More Than $60M From Counterfeit 'Empire'

    Nike filed a federal lawsuit on Monday for more than $60 million against a popular Los Angeles company producing pricey customized sneakers that the sportswear giant claims unlawfully uses Nike's designs and intellectual property, saying the company and its founder are even offering "Nike Counterfeiting 101" classes.

  • July 15, 2024

    Judge Keeps Most Of TM Suit Against Musk's X Corp. Intact

    Elon Musk's Twitter rebrand X Corp. suffered a setback Monday when a Florida federal judge kept intact most of a trademark infringement complaint by X Social Media LLC, an advertising agency for attorneys, with only one claim dismissed from the suit.

  • July 15, 2024

    Feds Outline Eligibility Criteria For Foreign Entrepreneur Rule

    U.S. Citizenship and Immigration Services provided updated guidance on the requirements for foreign entrepreneurs to qualify for short-term immigration benefits under the International Entrepreneur Rule.

  • July 15, 2024

    Chancery Finds Truth Social SPAC Should Get Docs

    The sponsor of the special purpose acquisition company that took former President Donald Trump's Truth Social public must turn over most of the documents the SPAC sought as part of the parties' Delaware litigation, a Chancery Court judge ruled Monday, teeing the case up for trial on July 29.

  • July 15, 2024

    Gray Reed Helped Water Now CEO In Fraud, Investors Say

    Investors in the now-defunct water purification company Water Now have added law firm Gray Reed & McGraw LLP and attorney George Diamond to their suit against the company, saying in an amended complaint Monday the firm helped the company's CEO run the business into the ground while enriching himself. 

  • July 15, 2024

    Towers Watson Asks 4th Circ. To Find Merger Dispute Covered

    Towers Watson's insurers must pay out $54 million in remaining directors and officers coverage to help fund a $75 million settlement in a shareholder suit over the company's merger with Willis, Towers Watson told the Fourth Circuit, saying a so-called bump-up exclusion does not apply.

  • July 15, 2024

    SEC Says German Flouting Discovery In $150M Fraud Probe

    A German national suspected of receiving proceeds of a $150 million "pump and dump" scheme from his son can't pick and choose when to avail himself of U.S. legal processes, the U.S. Securities and Exchange Commission said Monday as it seeks to recover funds.

  • July 15, 2024

    UAW Staff Culture Needs More Work, Monitor Says

    Remnants remain of the "culture of fear and reprisal" that gripped the United Auto Workers when union leaders were embezzling funds and accepting bribes from automakers in the 2010s, but progress has been made toward cultural change at the union, a court-appointed monitor said in his latest report.

  • July 15, 2024

    FTX Proposes $4B Settlement Of CFTC's Massive $52B Claim

    FTX Trading Ltd. asked a Delaware bankruptcy judge to sign off on a settlement with the U.S. Commodity Futures Trading Commission, saying the agreement to allow the agency a $4 billion claim in its bankruptcy would end a fraud civil enforcement action and address the "most significant single creditor" in the crypto currency exchange's Chapter 11 case.

  • July 15, 2024

    JPMorgan Chase Workers Had To Eat At Desks, Suit Says

    Chase Bank encouraged workers to perform off-the-clock work but failed to pay them accordingly, while also giving them so much work that they were forced to take their meals at their desks, a former employee said in a suit in California state court.

  • July 15, 2024

    Lululemon's Sustainability Ads Are 'Greenwashing,' Suit Says

    Lululemon's global "greenwashing" marketing campaign has lied to consumers that its products and businesses are eco-friendly while the athleisure company has continued to have a negative impact on the environment, a lawsuit in a Florida federal court said.

  • July 15, 2024

    B. Riley, Others Sued In Del. After Franchise Group Buyout

    Four Franchise Group LLC stockholders sued the company's principals and top investors in Delaware's Court of Chancery Friday, alleging that they and others were shortchanged by an insider-controlled $2.8 billion take-private sale of the business after an allegedly sham marketing effort and undisclosed conflicts.

  • July 15, 2024

    Auto Defect Suits Taxing Mich. Court Resources, Judge Says

    A Michigan federal judge indicated Monday he would approve a $150 million settlement to end class claims that General Motors sold vehicles with defective batteries that make cars overheat and cause fires, as he noted major auto defects cases have been straining the court's resources. 

  • July 15, 2024

    $6.4B IBM-HashiCorp Deal Gets FTC Second Request

    The Federal Trade Commission is taking a deeper look at IBM's planned $6.4 billion acquisition of HashiCorp Inc., about one month after IBM voluntarily reset a 30-day initial review period for the transaction, a Monday securities filing shows.

  • July 15, 2024

    Clark Hill Breaks Into Atlanta With 8 Taylor English Attys

    International law firm Clark Hill PLC has made its first foray into Atlanta, announcing Monday that it has brought on eight lawyers from Taylor English Duma LLP, including a former real estate practice co-chair and former employment practice chair, to help establish the new outpost, its 29th office.

  • July 15, 2024

    Seyfarth Adds 5-Atty Labor Team From Hunton In Calif., Texas

    Seyfarth Shaw LLP announced Monday that it has brought on a five-member team of labor and employment lawyers who previously practiced with Hunton Andrews Kurth LLP.

  • July 15, 2024

    McElroy Deutsch Fights 'Malicious' Claim In Exec Fraud Case

    McElroy Deutsch Mulvaney & Carpenter LLP and its former business development director, who is accused of stealing millions from the firm partially via fraudulent credit card use, are at odds over whether the firm's ex-employee should be allowed to bring a malicious prosecution counterclaim in New Jersey state court.

  • July 15, 2024

    Catching Up With Delaware's Chancery Court

    Chancery Court news was full of fees and settlements last week, with three multimillion-dollar deals getting a court OK, and a daylong discussion over a potentially multibillion-dollar fee award for attorneys who got Tesla CEO Elon Musk's astronomical pay package thrown out. The court also banged the gavel in cases involving e-payment venture SwervePay and managed care company Centene Corp., and heard arguments from software company SAP SE and biotech Renmatix Inc.

  • July 15, 2024

    Quinn Emanuel Barred From Repping X In Scraping Case

    Quinn Emanuel Urquhart & Sullivan LLP can no longer represent social media giant X Corp. in the company's lawsuit against Bright Data Ltd., with a California federal judge finding the law firm violated its duty of loyalty to Bright Data after previously representing it in a "substantially related" case.

Expert Analysis

  • Opinion

    Atty Well-Being Efforts Ignore Root Causes Of The Problem

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    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • How Generative AI May Aid Merger Clearance Process

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    Generative artificial intelligence capable of analyzing and searching large datasets stands to revolutionize the merger clearance process, including by significantly reducing the time and effort required to respond to Hart-Scott-Rodino second requests, say Kenneth Koch and Brian Blush at BDO USA.

  • Antitrust In Retail: The Meaning Of 'Accessible Luxury'

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    In order for the Federal Trade Commission to block a deal that would put six "accessible luxury" brands, including Coach and Michael Kors, under one roof, the agency will need to prove that this category is distinct from the true luxury or mass-market categories, says David Kully at Holland & Knight.

  • What Passage Of House Crypto Bill Could Mean For Industry

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    While the prospects of the Financial Innovation and Technology for the 21st Century Act, which recently passed the House in a bipartisan fashion, becoming law remain murky, the manner of its passage may give crypto markets a real cause for hope, say Neel Maitra and Dale Beggs at Dechert.

  • What 2 Rulings On Standing Mean For DEI Litigation

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    Recent federal court decisions in the Fearless Fund and Hello Alice cases shed new light on the ongoing wave of challenges to diversity, equity and inclusion initiatives, with opposite conclusions on whether the plaintiffs had standing to sue, say attorneys at Moore & Van Allen.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q2

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    The second quarter of 2024 saw less enforcement activity in the realm of New York financial services, but brought substantial regulatory and legislative developments, including state regulators' guidance on cybersecurity compliance and customer service processes for virtual currency entities, say James Vivenzio and Andrew Lucas at Perkins Coie.

  • FTC Focus: Competition And The Right To Repair

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    If the Federal Trade Commission includes commercial and industrial products as part of copyright exemptions that allow consumers to modify or repair products, then businesses and affected rights holders will need to consider copyrights' impact on infringement issues, say attorneys at Proskauer.

  • Series

    Skiing And Surfing Make Me A Better Lawyer

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    The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

  • Advisers Can Avoid Gaps In SEC Marketing Rule Compliance

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    A recent risk alert from the U.S. Securities and Exchange Commission and the enforcement history of the marketing rule indicate that advisers have encountered persistent difficulties in achieving compliance — but there are steps advisers can take to mitigate risks of violations, say Scott Moss and Jimmy Kang at Lowenstein Sandler.

  • Class Actions At The Circuit Courts: June Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers two recent decisions from the Third and Tenth Circuits, and identifies practice tips around class action settlements and standing in securities litigation.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

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    Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.

  • Del. Bankruptcy Ruling Will Give D&O Insureds Nightmares

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    In Henrich v. XL Specialty Insurance, the Delaware Bankruptcy Court recently found that a never-served qui tam claim had been "brought" before a D&O policy's retroactive date, thereby eliminating coverage, and creating a nightmare scenario for directors and officers policyholders facing whistleblower claims, says David Klein at Pillsbury.

  • Opinion

    No Matter The Purdue Ruling, Mass Tort Reform Is Needed

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    The U.S. Supreme Court will soon issue its opinion in the bankruptcy of Purdue Pharma LP, and regardless of the outcome, it’s clear legal and policy reforms are needed to address the next mass tort, says William Organek at Baruch College.

  • Top 5 Issues For Employers To Audit Midyear

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    Six months into 2024, developments from federal courts and regulatory agencies should prompt employers to reflect on their progress regarding artificial intelligence, noncompetes, diversity initiatives, religious accommodation and more, say Allegra Lawrence-Hardy and Lisa Haldar at Lawrence & Bundy.

  • 6 Tips For Maximizing After-Tax Returns In Private M&A Deals

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    With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.

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