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Corporate
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November 21, 2024
Dentons Atty Owed No Duty In $54M Currency Deal, Jury Says
A Florida state court jury found Thursday that a former Dentons US LLP attorney didn't intentionally make a false statement or commit malpractice in a failed $54 million dollars-to-bolivares currency swap in which a Venezuelan lawyer lost millions of dollars.
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November 21, 2024
IBM Told Execs 'Discriminate Or Lose Your Job,' Worker Says
IBM rewarded executives for meeting diversity goals and threatened them with punishment for failing to do so, essentially telling them to "discriminate or lose your job," a white male consultant who was terminated alleged in a suit filed in Michigan federal court on Wednesday.
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November 21, 2024
NY Hospital GC Accuses State Of Mishandling Medicaid Funds
The general counsel of Nassau University Medical Center, who is also serving as interim president and CEO, is leading the Long Island hospital into a legal battle with the state of New York over $1 billion in federal Medicaid funds.
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November 21, 2024
Suit Against Mortgage Co. Axed Despite Atty's Bad Faith Claim
A Texas state court judge has dismissed for good an attorney's lawsuit against the mortgage company she formerly worked for in-house, despite a dispute over whether the matter should have ended with or without prejudice.
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November 21, 2024
Senate Approves Honeywell GC For Arizona Judge Seat
The Senate voted 82-12 on Thursday to confirm Sharad H. Desai, a vice president and general counsel for Honeywell International, for a seat on the U.S. District Court for the District of Arizona.
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November 21, 2024
New SEC 'Dealer' Rule Tossed In Win For Hedge Funds, Crypto
A Texas federal judge on Thursday overturned a U.S. Securities and Exchange Commission rule that expanded the definition of "dealer" to include proprietary trading firms, some hedge funds and crypto firms, saying the agency overstepped its authority when it adopted the rule.
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November 21, 2024
SEC Chair Gensler To Step Down When Trump Takes Office
U.S. Securities and Exchange Commission Chair Gary Gensler said Thursday that he will be leaving the agency on Jan. 20, clearing the way for new leadership under an incoming Trump administration that is expected to dismantle Gensler's climate disclosure regulation and open the SEC's door to more crypto-friendly policies.
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November 21, 2024
Gaetz Ends AG Bid, Citing 'Distraction' To Trump Transition
Former U.S. Rep. Matt Gaetz withdrew his name from consideration Thursday as President-elect Donald Trump's nominee for attorney general amid allegations of sexual misconduct and drug use.
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November 21, 2024
CFPB Wraps Rule To Pull Big Payment Apps Into Supervision
The Consumer Financial Protection Bureau said Thursday that it has finalized a measure to bring providers of major digital payment apps under its supervisory umbrella, expanding the reach of its oversight deeper into the technology sector and drawing fresh calls to reverse course.
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November 21, 2024
DOJ Urges Chrome, Android Sales In Google Case
The U.S. Department of Justice late Wednesday formally asked a Washington, D.C., federal judge to order a range of steps to end Google's monopolization of general search services and the text ads shown alongside search results, most notably by forcing the company to spin off the Chrome browser.
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November 20, 2024
SEC Cooperators More Likely To See Pay Reprieve In 2024
The U.S. Securities and Exchange Commission's recent emphasis on cooperation seems to have paid off for both the agency and some of the entities it regulates, according to a report released Thursday, which found that more public companies entered into nonmonetary settlements with the SEC in fiscal year 2024 than in any year over the previous decade.
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November 20, 2024
Musk, Ramaswamy Say High Court Rulings OK Federal Cuts
Billionaire Elon Musk and former presidential candidate Vivek Ramaswamy, President-elect Donald Trump's picks to lead a newly created "Department of Government Efficiency," on Wednesday said two recent U.S. Supreme Court rulings will give them the authority to cut off power to regulatory agencies and conduct massive federal layoffs.
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November 20, 2024
Lululemon Execs Hit With Derivative Suit Over DEI Program
Lululemon leadership was hit with a shareholder derivative suit Wednesday claiming they made false statements related to the company's new "Inclusion, Diversity, Equity and Action" program that artificially boosted the company's stock price and also concealed problems with the company's inventory allocation.
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November 20, 2024
9th Circ. Judge Asks How Loper Bright Impacts EPA Fine Case
A Ninth Circuit judge wondered on Wednesday what weight the court should give the Environmental Protection Agency's view in a chemical wholesaler's appeal of an $850,000 fine in light of the U.S. Supreme Court's Loper Bright decision, suggesting the justices might next end agency deference in regulatory interpretation.
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November 20, 2024
Ex-Pharma CEO Demands Legal Fees For SEC Probe
Cancer treatment development company Eagle Pharmaceuticals Inc.'s founder and ex-CEO told Delaware's Chancery Court Wednesday that he is entitled to legal fees he says the company owes him in connection with a U.S. Securities and Exchange Commission probe into the company's accounting practices, saying he continues to incur fees in addition to the $875,000 he has already requested.
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November 20, 2024
5 Charged For 'Scattered Spider' Phishing Hacks, Crypto Theft
California federal prosecutors unveiled a criminal case Wednesday accusing five alleged members of the "Scattered Spider" cybercrime group of using a phishing scheme to access the confidential data of media and technology companies and steal $11 million worth of cryptocurrency from digital wallets.
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November 20, 2024
Wash. Judge Questions Startup's Amazon Antitrust Claims
A Washington federal judge on Wednesday suggested that antitrust claims might not survive in a startup's complaint against Amazon Web Services involving a dispute over higher-speed internet connections in the Middle East that allowed the startup to cater to its customer Epic Games.
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November 20, 2024
'Fat Leonard' To Appeal 15-Year Sentence Over Navy Bribery
A Malaysian defense contractor and ex-fugitive who pled guilty nearly 10 years ago to a bribery scheme that authorities said cost the U.S. Navy over $20 million has indicated in California federal court that he will appeal his 15-year sentence to the Ninth Circuit.
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November 20, 2024
USPTO Unveils Patent Fee Hikes Set To Take Effect In January
The U.S. Patent and Trademark Office on Wednesday released a final rule that will increase many patent-related fees on Jan. 19, recalibrating some proposed hikes that had drawn criticism from attorneys and industry groups while leaving others intact.
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November 20, 2024
Bumble Brass Fumbled App Revamps, Investor Suit Says
Current and former brass of dating app Bumble's parent company face shareholder derivative claims that they projected overconfidence about revamping its app, then saw trading prices crater when Bumble lowered its 2024 growth projections amid the tinkering.
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November 20, 2024
SkyWest Airlines Hit With $2M Verdict In EEOC Harassment Case
A Texas jury found in favor of the Equal Employment Opportunity Commission on Wednesday in a suit that saw SkyWest Airlines accused of sitting idle while an employee experienced persistent sexual harassment, awarding over $2 million in punitive damages for the workplace misconduct in federal court.
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November 20, 2024
Nike Accused Of 'Smear Campaign' Over $60M Trademark Suit
A Los Angeles-based company that made customized sneakers for celebrities and athletes hit back Tuesday at Nike's $60 million trademark suit, saying that despite the companies' previous collaborations, Nike is now making knowing false claims in a "smear campaign" to crush its business.
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November 20, 2024
Xerox Faces Investor Suit Over 'Reinvention' Strategy
Business technology company Xerox Inc. has been hit with a proposed shareholder class action in New York federal court alleging the company's stockholders were harmed by a "reinvention" strategy it introduced in 2023 that yielded lower sales and revenue.
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November 20, 2024
Advance Notice Bylaw Measures Fuel Chancery Battle
Arguing that recent corporate advance notice bylaws have resulted in "real, actual harm" to stockholders of Owings Corning and The AES Corp., attorneys for shareholders of both urged a Delaware vice chancellor on Wednesday to reject calls to dismiss challenges to the measures.
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November 20, 2024
Scotts Miracle-Gro Leaders Sued Over Post-Pandemic Glut
Executives, directors and an heir to the CEO of consumer gardening giant The Scotts Miracle-Gro Co. face a shareholder derivative action alleging the company flooded its sales channels with post-pandemic excess inventory as it struggled to avoid defaulting on its debt.
Expert Analysis
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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.
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Planning Law Firm Content Calendars: What, When, Where
During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.
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Series
Playing Golf Makes Me A Better Lawyer
Golf can positively affect your personal and professional life well beyond the final putt, and it’s helped enrich my legal practice by improving my ability to build lasting relationships, study and apply the rules, face adversity with grace, and maintain my mental and physical well-being, says Adam Kelly at Venable.
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Preparing For The NLRB's New Union Recognition Final Rule
The National Labor Relations Board's impending new final rule on union recognition puts the employer at a particular disadvantage in a decertification election, and best practices include conducting workplace assessments to identify and proactively address employee issues, say Louis Cannon and Gerald Bradner at Baker Donelson.
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Law Firms Should Move From Reactive To Proactive Marketing
Most law firm marketing and business development teams operate in silos, leading to an ad hoc, reactive approach, but shifting to a culture of proactive planning — beginning with comprehensive campaigns — can help firms effectively execute their broader business strategy, says Paul Manuele at PR Manuele Consulting.
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Remedy May Be Google's Biggest Hurdle Yet In Antitrust Case
There are difficulties ahead in the remedies phase of the antitrust case against Google in District of Columbia federal court, including the search engine giant's scale advantage and the fast-moving nature of the tech industry, setting the stage for the most challenging of the proceedings so far, says Jonathan Rubin at MoginRubin.
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Takeaways From EU's 'Pay Or Consent' Advertising Probe
Anne-Gabrielle Haie and Charles Whiddington at Steptoe examine key points from the European Commission's recent investigation into Big Tech's use of "pay or consent" advertising models, as well as the European Data Protection Board’s opinion on how such models can comply with EU competition and data protection laws.
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Tips For Revamping Patent Portfolio Strategy In AI Deal Era
Recent data suggests patents are significantly enhancing exit valuations, particularly with cutting-edge technologies like those powered by artificial intelligence, but it is necessary to do more than simply align patent strategy with business goals, says Keegan Caldwell at Caldwell Law.
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3 High Court Rulings May Shape Health Org. Litigation Tactics
Three separate decisions from the U.S. Supreme Court's most recent term — Loper Bright, Corner Post and Jarkesy — will likely strengthen healthcare organizations' ability to affirmatively sue executive agencies to challenge regulations governing operations and enforcement actions, say attorneys at McDermott.