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Corporate
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October 18, 2024
Paramount-Skydance Merger Triggers Class Atty Fight In Del.
A five-firm stockholder attorney team investigating the proposed $7 billion Paramount Global-Skydance Media LLC merger has urged Delaware's Court of Chancery to put the brakes on another firm's motion for co-lead plaintiff appointment for a deal challenge, arguing that the move would reward a rush to the courthouse.
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October 18, 2024
Google Play Store Injunction Paused To Let 9th Circ. Weigh In
A California federal judge on Friday briefly paused his injunction requiring Google to open up its Play Store to competition while the tech giant seeks an emergency stay of the injunction at the Ninth Circuit, where it's appealing a jury verdict that it illegally monopolized the Android app distribution and payment market.
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October 18, 2024
Blank Rome Attys Want Win In Corporate Client Ex-Atty Suit
A trio of Blank Rome LLP attorneys have asked a federal judge in Pennsylvania for an early win in a lawsuit from another attorney alleging they improperly helped her former client retaliate against her after she switched to the plaintiffs bar.
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October 18, 2024
Verbose BigLaw Attys Irk Judge: 'Not Serving You Well'
A Boston federal judge on Friday laid into attorneys for Boies Schiller Flexner LLP, Quinn Emanuel Urquhart & Sullivan LLP, and Ropes & Gray LLP for what she called needlessly aggressive and voluminous court filings in heated fraud litigation involving the sale of a Mexican funeral business.
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October 18, 2024
FTC Probing John Deere Over Right-To-Repair Policies
The Federal Trade Commission is investigating concerns that John Deere unlawfully restricts the repair of its farm equipment, as the company continues to face private litigation over its right-to-repair policies.
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October 18, 2024
Class Status Sought For Sex Bias Suit Over Layoffs At X
A suit alleging X targeted women in layoffs after Elon Musk bought the company should move forward as a class action because hundreds of women were impacted by sexist decision-making, a former employee for the company once known as Twitter argued in California federal court
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October 18, 2024
Conn. Brother Wants No Jail Time In Brazilian Oil Scheme
A Connecticut man who pled guilty to laundering money in a Brazilian oil bribery scheme that also ensnared his brother says he should not be sentenced to jail time because he needs cancer treatments and has been "devastated financially."
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October 18, 2024
GC Cheat Sheet: The Hottest Corporate News Of The Week
General counsel have 180 days to get their online companies to comply with a new federal law that says customers must be able to simply click to cancel their subscriptions. And a federal judge in Florida, citing the First Amendment, has told the state to stop threatening broadcast stations over running an abortion rights ad — threats that led the state's Department of Health general counsel to resign.
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October 18, 2024
Western Digital Hit With $315.7M Verdict In Patent Suit
Western Digital must pay SPEX Technologies nearly $316 million in damages for infringing its patent related to hardware encryption technology in Western Digital's Ultrastar and My Book data storage devices, a California federal jury decided on Friday.
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October 18, 2024
CVS Health Replaces CEO Amid Reported Activist Pressure
CVS Health announced an executive shakeup on Friday, including the appointment of new President and CEO David Joyner, a move that comes as the troubled healthcare services giant faces pressure from activist investors pushing for change.
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October 18, 2024
FTC Faces More Pressure To Block $16.5B Novo-Catalent Deal
A dozen advocacy groups are pushing the Federal Trade Commission to block Novo Holdings' planned $16.5 billion purchase of Catalent, arguing that the deal would stifle competition for certain obesity and gene therapy drugs — and that no remedy can fix that.
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October 17, 2024
Apple's $20M Watch Defect Deal Lacks Info, Judge Says
A California federal judge has declined to preliminarily approve Apple's $20 million deal to resolve a proposed class action alleging certain Apple Watches have a battery defect that can cause serious injuries, ordering counsel to submit additional information, including details on the lawsuit's maximum value if consumers win at trial.
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October 17, 2024
Trump Media Investors Get Prison For Insider Trading
A New York federal judge on Thursday sentenced a Florida venture capitalist to over two years in prison for insider trading on confidential plans to take the media company behind former President Donald Trump's Truth Social network public, a scheme that netted the investor and his brother nearly $23 million.
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October 17, 2024
'It's The First Amendment, Stupid': Judge Blasts Fla.'s Threats
A Florida federal judge on Thursday blocked the state from threatening television stations with criminal prosecution if they did not pull a campaign ad promoting an abortion rights ballot initiative, calling the ads political speech that "is at the core of the First Amendment."
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October 17, 2024
Stockholders Sue Tech Co. Controllers Over Equity Shuffle
Stockholders of materials science venture Footprint International have sued the company, several current and former board members and its controlling shareholders in Delaware Chancery Court, seeking damages for allegedly conflicted refinancing moves that stripped regular shareholders of their interests and rights.
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October 17, 2024
CEO Fled Deadly Hurricane But Made Workers Stay, Suit Says
The CEO of a Tennessee plastics company chose profits over lives when he snuck out the back door while refusing to send factory workers home, as floodwaters began sweeping through the area after Hurricane Helene made landfall, leading to the deaths of six employees, according to a wrongful death lawsuit.
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October 17, 2024
USPTO Told More Clarity Needed On AI And Patent Eligibility
Numerous companies and industry groups have said they welcome the U.S. Patent and Trademark Office's new guidance on when inventions involving artificial intelligence are eligible for patents, but many urged the agency to provide additional clarity and practical examples.
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October 17, 2024
Microsoft Fights IP, Antitrust Suit Alleging Cartel With Nvidia
Microsoft slammed a lawsuit brought by a startup accusing it, Nvidia and a third company of engaging in patent infringement and an illegal buyers' cartel suppressing the price of graphic processing units used in powering artificial intelligence, urging a Texas federal judge Wednesday to deny an injunction bid due to lack of evidence.
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October 17, 2024
Engineer Wood PLC Faces Contempt Bid Amid Pipeline Spat
A contractor facing claims that it mismanaged the construction of a $22 million Colonial Pipeline Co. fuel terminal in Georgia asked a federal judge Thursday to hold multinational engineering firm John L. Wood PLC in contempt of court for playing "word games" with a recent subpoena.
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October 17, 2024
Supreme Court Signals Skepticism On Staying Federal Rules
A recent string of refusals to block major Biden administration energy and climate change rules suggests that the U.S. Supreme Court is setting limits on its willingness to elbow aside lower courts that are considering challenges to such rules, legal experts say.
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October 17, 2024
FERC Adds Tribal Protections To Transmission Siting Rule
The Federal Energy Regulatory Commission unanimously finalized its rule updating how the agency plans to carry out its limited authority over siting transmission lines during its monthly meeting on Thursday.
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October 17, 2024
Feds Arrest Man In SEC X Account Hack Touting Bitcoin ETF
An Alabama man was arrested Thursday on federal charges tied to the January hack of the U.S. Securities and Exchange Commission's X account, which caused bitcoin prices to spike after a phony post falsely touted that the agency had approved bitcoin exchange-traded products, federal authorities said.
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October 17, 2024
Ex-CEO Of Credit Union Blames Accounting Firm For Firing
The dismissed chief executive officer of a Connecticut credit union is suing the financial institution and Whittlesey PC, its accounting firm, claiming he was fired after following advice from the largest CPA group in the state on when to calendar a $1.2 million gain connected to a property sale.
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October 17, 2024
Zoox Investors Battle Amazon Sale Suit Toss In Chancery
An attorney for self-driving robotaxi venture Zoox Inc., its directors and Amazon.com told Delaware's chancellor on Thursday that insolvency was days away when Zoox agreed to a $1.3 billion acquisition by Amazon.com in June 2020, despite conflicting claims from stockholders who challenged the deal.
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October 17, 2024
Meta Judge Doubts Investor Suit Over Efforts To Protect Kids
A California federal judge appeared skeptical Thursday of keeping alive an investor's lawsuit claiming Meta Platforms Inc.'s annual proxy statement misled investors about the social media giant's efforts to protect children from sexual predators, telling the investor his economic loss arguments are circular and doubting whether Meta's statements are actionable.
Expert Analysis
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Pros, Cons Of Disclosing Improper Employee Retention Credit
Employers considering the Internal Revenue Service’s second voluntary disclosure program, which allows companies to avoid penalties for erroneously claiming employee retention credits for the 2021 tax year by repaying the credits and naming the tax advisers who encouraged these abusive practices, should carefully weigh the program’s benefits against its potential drawbacks, say attorneys at Winston & Strawn.
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How Law Firms Can Avoid 'Collaboration Drag'
Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.
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Election Outlook: A Precedent Primer On Content Moderation
With the 2024 election season now in full swing, online platforms will face difficult and politically sensitive decisions about content moderation, but U.S. Supreme Court decisions from last term offer much-needed certainty about their rights, say Jonathan Blavin and Helen White at Munger Tolles.
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6 Considerations To Determine If A Cyber Incident Is Material
The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.
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How Anti-DEI Bill Could Affect Employers' Diversity Efforts
Sen. J.D. Vance's recently introduced Dismantle DEI Act would substantially limit employers’ ability to implement and promote workplace diversity, equity and inclusion, but there are still steps employers can take to support a diverse workforce, says Peter Ennis at Cozen O’Connor.
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Opinion
Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
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Series
After Chevron: What To Expect In Consumer Protection At FTC
Although the Federal Trade Commission's bread-and-butter consumer protection law enforcement actions are unlikely to be affected, the Loper Bright decision may curb the FTC's bolder interpretations of the statutes it enforces, says Mary Engle at BBB National Programs.
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Comparing 5 Administrators' Mass Arbitration Procedures
Attorneys at DLA Piper compare the rules for mass arbitrations at five different arbitration providers — Judicial Arbitration and Mediation Services, American Arbitration Association, National Arbitration and Mediation, FedArb and New Era ADR — including their triggers, claim screening procedures, how and when they assess fees, and more.
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Whistleblowers Must Note 5 Key Differences Of DOJ Program
The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.
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What NFL Draft Picks Have In Common With Lateral Law Hires
Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.
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Calif. Ruling Clarifying Paystub Compliance Is Win For Cos.
In rare good news for California employers, the state Supreme Court recently clarified that workers couldn’t win extra penalties in wage and hour cases by claiming their employer intentionally violated state paystub law if the employer believed it had complied in good faith, say Drei Munar and Kirk Hornbeck at Hunton.
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Considering Noncompete Strategies After Blocked FTC Ban
A Texas district court's recent decision in Ryan v. Federal Trade Commission to set aside the new FTC rule banning noncompetes does away with some immediate compliance obligations, but employers should still review strategies, attend to changes to state laws and monitor ongoing challenges, say attorneys at Baker McKenzie.
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Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling
The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.
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Replacing The Stigma Of Menopause With Law Firm Support
A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.
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Series
After Chevron: The Future Of AI And Copyright Law
In the wake of the U.S. Supreme Court’s recent decision to overrule the Chevron doctrine, leaders in the artificial intelligence industry may seek to shift the balance of power to courts to exercise more independent statutory interpretation without constraints from the U.S. Copyright Office, says Greg Derin at Signature Resolution.