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August 06, 2024
Anti-Rape Org. Told To Turn Over Docs In Uber Assault MDL
A D.C. federal judge on Tuesday directed the Rape, Abuse and Incest National Network to produce documents in response to a subpoena seeking information about the anti-sexual violence organization's work with Uber Technologies Inc. as part of multidistrict litigation in California over the sexual assault of Uber passengers.
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August 06, 2024
Piper Sandler Says It Will Pay $16M In Recordkeeping Fines
Piper Sandler Cos. disclosed Tuesday that it has reached tentative agreements with the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission to end investigations into off-channel business communications for a total of $16 million.
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August 06, 2024
Cadwalader Slams Lloyd's For 'Needless' Disclosure, Mockery
Cadwalader Wickersham & Taft LLP has opposed a bid by a Lloyd's of London syndicate to unseal the law firm's complaint seeking $1 million of coverage for a November 2022 data breach, telling the North Carolina Business Court that Lloyd's has chosen to "mock and insult their own customer" while exposing confidential information in its filing to the court.
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August 06, 2024
Amazon Contractor Can't Escape Worker's Welding Injury Suit
A Texas federal judge ruled Tuesday that a construction company hired by Amazon must face a trial over a worker's blindness from a welding torch light flash, saying there is a factual dispute regarding whether the company had control over all workers on site the day of the incident.
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August 06, 2024
Ex-Mayor's Fight With Law Firm No RICO Case, 5th Circ. Told
Counsel for convicted fraudster and former Texas Mayor Laura Maczka-Jordan said it's significant that a law firm accusing her and her husband of racketeering represented itself during oral arguments before the Fifth Circuit Tuesday, arguing that the case deals with a lease dispute rather than a racketeering scheme.
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August 06, 2024
CPSC Makes Moves On Powers Of Recall Over Amazon
The U.S. Consumer Product Safety Commission's recent decision that Amazon is legally responsible for recalling hundreds of thousands of unsafe products sold on its site is a big step forward for the agency in its authority over online platforms that sell third-party products, although the opinion is still limited to the sorts of products at issue, attorneys say.
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August 06, 2024
9th Circ. Kills Trustee Fee Refunds After Justices' Ruling
The Ninth Circuit on Tuesday reversed a district court decision that granted a partial refund of $600,000 in fees a tobacco distributor paid to the U.S. Trustee's Office, noting that the U.S. Supreme Court found in June that a disparity in fees paid by debtors in different jurisdictions was not to be remedied by returning overpayments.
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August 06, 2024
Amazon Seeks Early Exit From Military Service Bias Suit
Amazon asked a Washington federal judge to end a proposed class action accusing it of demoting or terminating workers who take time off for military service, arguing that one of the plaintiffs was inadvertently fired while the other wasn't qualified for a promotion because he was "unprofessional."
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August 06, 2024
EPA Emergency Bans Pesticide Chem Over Risks To Unborn
The U.S. Environmental Protection Agency said Tuesday it's imposing an emergency ban on all pesticide products that contain a chemical used since the 1950s that it says puts fetuses at risk of thyroid problems and a cascade of other health issues.
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August 06, 2024
Pharma Co. Founder Beats Suit Over Short-Swing Trading
The founder of Y-mAbs Therapeutics Inc. beat back a suit alleging he realized more than $2.5 million in so-called short-swing profits after he exchanged his Y-mAbs stock for those of another company, with a New York federal judge saying in a ruling of first impression that the founder does not need to return the gains he received.
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August 06, 2024
Cannabis Co. Sued For Docs On Insider-Tied Note, Sale Plans
A stockholder of cannabis sourcing company Eaze Technologies Inc. — now facing a foreclosure auction — sued in Delaware's Court of Chancery Tuesday for books and records surrounding a founder- and insider-controlled note purchase and security agreement and alleged "take-under" sale scheme.
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August 06, 2024
Dem Lawmakers Back FTC's Kroger-Albertsons Challenge
A group of Democratic lawmakers is supporting the Federal Trade Commission in its suit to block Kroger's $25 billion acquisition of Albertsons, telling an Oregon federal judge in a friend-of-the-court brief that the agency's fears the deal would harm grocery workers and consumers are well-founded.
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August 06, 2024
Feds Seek $3.5M Premerger Penalty From Sporting Events Biz
Federal prosecutors have struck a deal requiring sports and entertainment event company Legends Hospitality to pay a $3.5 million penalty to settle allegations that it illegally conducted business with acquisition target ASM Global Inc. before finalizing the deal.
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August 06, 2024
Ex-Pfizer Worker Who Traded On Paxlovid Secrets Gets 9 Mos.
A Manhattan federal judge sentenced a former Pfizer Inc. statistician from New Jersey to nine months in prison Tuesday after a jury convicted him of insider trading on secrets about his former company's COVID-19 therapy trials for an illegal $272,000 profit.
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August 06, 2024
Elon Musk's X Sues CVS, Mars, Ads Group Claiming 'Boycott'
Elon Musk's X Corp. sued the World Federation of Advertisers, Unilever, Mars Inc., CVS Health and Ørsted in Texas federal court Tuesday, inspired by a House Judiciary Committee Republican staffer report decrying efforts to avoid advertising next to hate speech and other "disfavored" content as an anticompetitive group boycott.
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August 06, 2024
SEC Decries Coinbase's 'Sweeping' Discovery Demand
The U.S. Securities and Exchange Commission has urged a New York federal judge to deny crypto exchange Coinbase's "additional, sweeping" request for all documents and communications the regulator may have made surrounding how securities laws apply to digital assets, arguing most of the documents are privileged or irrelevant to the case.
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August 06, 2024
SEC Defends Climate Disclosure Rules At 8th Circ.
The U.S. Securities and Exchange Commission on Tuesday cited the U.S. Supreme Court's decision axing Chevron deference and the agency's 50-plus year history of considering additional environmental-related disclosures in an effort to defend its recently adopted climate disclosure rules.
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August 06, 2024
39 Law Firms Call On 6th Circ. To Reverse FirstEnergy Ruling
Dozens of law firms have signed on to an amicus curiae brief urging the Sixth Circuit to reverse a decision in a FirstEnergy shareholder litigation, the latest voices in the legal, insurance and business communities to call on the appellate court to reverse an Ohio federal judge's ruling they warn will threaten attorney-client privilege.
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August 06, 2024
Jones Day Slams Ex-Client's Bid To Exit $2M Fee Fight
Jones Day wants to prevent former client Soverain Software LLC from exiting a decade-long spat over $2 million in unpaid legal fees, telling an Illinois state court that Soverain's bid to bring the litigation to a close "is a house of cards that collapses with the slightest breeze."
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August 06, 2024
Truckers Association Challenges AB 5 At 9th Circ.
A trade association representing small trucking businesses told the Ninth Circuit that California's classification test in Assembly Bill 5 will obliterate the lease owner-operator system, urging the panel to flip a federal court's decision keeping the law running.
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August 06, 2024
Exxon Assistant GC Jumps To Duane Morris As Trial Partner
A longtime attorney at Exxon Mobil Corp. has made the move from in-house to private practice at Duane Morris LLP to begin the next chapter of his career.
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August 06, 2024
Funko Settles Derivative Litigation In Delaware, California
Pop culture lifestyle brand Funko Inc. has agreed to resolve derivative claims in multiple stockholder suits in California federal court and Delaware's Court of Chancery by implementing corporate governance reforms and paying up to $2.15 million to plaintiffs' attorneys, the company has announced.
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August 06, 2024
Insurance Atty Shakes Off Retirement To Join Saul Ewing
Eighteen months of retirement was all Saul Ewing's latest addition to its insurance practice could take before he returned to private practice and joined the firm's New York office.
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August 06, 2024
DC Circ. Urged To Revive Investor's Pandemic-Era Losses Suit
An investor vying to hold Bank of America liable for losses he sustained at the height of the COVID-19 pandemic told the D.C. Circuit that a trial court judge prematurely tossed his suit claiming that the bank failed to explain the risks of cashing out his investments.
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August 06, 2024
Arnold & Porter Adds Abramson Cancer Center Chief Counsel
Throughout her career and while working in progressive leadership roles for the Abramson Cancer Center at the University of Pennsylvania, Mir Masud-Elias, Arnold & Porter Kaye Scholer LLP's newest counsel, has asked herself the same question: Is this role the best use of her time on Earth?
Expert Analysis
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Key Takeaways From 2024 Accountants' Liability Conference
At the recent annual Accountants' Liability Conference, regulators provided important commentary on new Public Company Accounting Oversight Board rulemaking and standard-setting initiatives, and emphasized regulatory priorities ranging from the tone at the top to alternative practice structures, say attorneys at Arnold & Porter.
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Opinion
Bankruptcy Judges Can Justly Resolve Mass Tort Cases
Johnson & Johnson’s recent announcement of a prepackaged reorganization plan for its talc unit highlights that Chapter 11 is a continually evolving living statute that can address new types of problems with reorganization, value and job preservation, and just treatment for creditors, says Kenneth Rosen at Ken Rosen Advisors PC.
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Series
Fishing Makes Me A Better Lawyer
Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge at Robinson Bradshaw.
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Exploring Alternatives To Noncompetes Ahead Of FTC Ban
Ahead of the Sept. 4 effective date for the Federal Trade Commission's noncompete ban, employers should seek new ways to protect their proprietary and other sensitive information, including by revising existing confidentiality and nondisclosure agreements, says Harvey Linder at Culhane.
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Parsing Controversial Del. General Corporation Law Proposals
In response to issues raised in three recent high-profile Delaware Court of Chancery decisions, many amendments to the Delaware General Corporation Law were quickly proposed that, if enacted, would bring significant changes likely to be hotly debated — and litigated — for the foreseeable future, say attorneys at Morgan Lewis.
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DOL's New OT Rule Will Produce Unbalanced Outcomes
The U.S. Department of Labor's new salary level for the Fair Labor Standards Act overtime exemption is about 65% higher than the current threshold and will cause many white collar employees to be classified as nonexempt because they work in a location with a lower cost of living, not because of their duties, says Stephen Bronars at Edgeworth Economics.
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A Healthier Legal Industry Starts With Emotional Intelligence
The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.
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Navigating Self-Disclosures As A Regulated Financial Entity
As enforcement risks heat up for regulated financial institutions, such entities may be forced to weigh the potential advantages and disadvantages of self-disclosing potential compliance gaps, say attorneys at Jenner & Block.
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To Make Your Legal Writing Clear, Emulate A Master Chef
To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.
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Takeaways From SEC's New Data Breach Amendments
The U.S. Securities and Exchange Commission's recent amendment of its consumer privacy rules to require investment advisers and broker-dealers to put procedures in place to uncover data breaches and report them to customers evidences that protecting client records and information remains an SEC priority, say attorneys at Simpson Thacher.
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8 Steps Companies Should Take After An Internal Investigation
Given the U.S. Department of Justice’s increasing focus on corporate compliance and remediation of misconduct, companies must follow through in several key ways after an internal investigation to ensure history does not repeat itself, say Jonathan Aronie and Joseph Jay at Sheppard Mullin.
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Circuit Judge Writes An Opinion, AI Helps: What Now?
Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.
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A Look At M&A Conditions After FTC's Exxon-Pioneer Nod
The Federal Trade Commission's recent consent decree imposing several conditions on Exxon Mobil's acquisition of Pioneer Natural Resources helps illustrate key points about the current merger enforcement environment, including the probability of further investigations in the energy and pharmaceutical sectors, say Ryan Quillian and John Kendrick at Covington.
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Series
In The CFPB Playbook: Regulatory Aims Get High Court Assist
Newly emboldened after the U.S. Supreme Court last month found that the Consumer Financial Protection Bureau's funding is constitutional, the bureau has likely experienced a psychic boost, allowing its already robust enforcement agenda to continue expanding, say attorneys at Husch Blackwell.
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3 Infringement Defenses To Consider 10 Years Post-Nautilus
In the 10 years since the U.S. Supreme Court’s influential Nautilus ruling, the spirit of the “amenable to construction” test that the opinion rejected persists with many patent litigators and judges, so patent infringement defense counsel should always consider several key arguments, says John Vandenberg at Klarquist Sparkman.