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Corporate
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November 04, 2024
Nextdoor Inc. Investors Sue After De-SPAC Stock Drop
Investors in a special purpose acquisition company that took neighborhood network app Nextdoor Inc. public at a $4.3 billion valuation in July 2021 have sued the SPAC's sponsors and founding directors for damages in Delaware's Court of Chancery, accusing architects of the deal of overvaluing the business.
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November 04, 2024
Class Cert. Sought In Ga. Man's 'Forever Chemicals' Suit
A Georgia man who lives near a Mount Vernon Mills textile plant asked a federal judge on Friday to certify two classes of neighbors who want to hold the manufacturers of so-called "forever chemicals" responsible for the alleged pollution of city drinking water.
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November 04, 2024
Boston Dynamics Sues Supplier Over Delayed Robot Parts
Boston Dynamics says a New Hampshire company is holding millions of dollars worth of components for its industrial robots "hostage" as leverage to renegotiate its contract, according to a lawsuit filed in Massachusetts state court.
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November 04, 2024
Vista Equity Sued In Del. Over Ad Tracking Co. Insider Trades
A stockholder of digital ad evaluator Integral Ad Science Holding Corp. has sued the company's private equity controller and five IAS directors in Delaware's Court of Chancery, seeking recovery of derivative damages for alleged insider trading moves that purportedly saved Vista nearly $270 million.
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November 04, 2024
McKesson Inks $450K DOL Deal Following Hiring Bias Probe
The U.S. Department of Labor announced Monday that McKesson Medical-Surgical Inc. has agreed to pay nearly $450,000 to resolve the agency's claims that it gave hiring preferences to Asian job applicants over Black, Hispanic and white job hopefuls.
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November 04, 2024
US Must Pay Legal Fees To Challenger Of IRS Guidance
A Michigan federal judge ordered the U.S. to pay roughly $220,000 in attorney fees to a construction company that won its challenge to Internal Revenue Service penalties and overturned underlying agency guidance, rejecting a magistrate judge's recommendation that the company foot its own bill.
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November 04, 2024
Developer And Mich. Township Reach Deal In FOIA Suit
A developer and a Michigan township resolved the developer's nearly $18 million suit that accused the township of wrongfully blocking its industrial development project.
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November 04, 2024
Tesla Fights Sanctions Bid Over Atty's Mediation Appearance
Tesla Inc. has pushed back against a widow's sanctions bid over allegations a company in-house attorney appeared at a mediation in her wrongful death case despite lacking settlement authority, saying her attorneys improperly disclosed the contents of confidential mediation communications.
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November 04, 2024
Vinson & Elkins Adds Simpson Thacher Atty As M&A Co-Head
Vinson & Elkins LLP has brought on a veteran mergers and acquisitions lawyer as a New York-based co-head of strategic M&A, the firm said Monday.
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November 04, 2024
Justices Say Gov't Can Join Oral Arguments In $47M TM Case
The U.S. Supreme Court said Monday it will allow Solicitor General Elizabeth Prelogar to participate in oral arguments in a case where the justices will consider whether a real estate development company's corporate affiliates should be responsible for a $46.6 million trademark infringement judgment, even though they were not defendants.
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November 04, 2024
Mortgage Co. Accused Of 'Bad Faith' In Settlement With Atty
A former staff attorney with a mortgage company has accused the business of "bad faith" for purportedly trying to renegotiate the terms of a settlement to resolve her Texas state lawsuit alleging she was fired after she witnessed inappropriate sexual behavior by a deputy general counsel.
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November 04, 2024
Ex-Twitter Marketing Exec Denied $20M Severance, Suit Says
Elon Musk abruptly fired Twitter's chief marketing officer and denied her $20 million in severance benefits because she recommended Musk meet with an employee who disagreed with letting former President Donald Trump back on the platform, according to a suit in California federal court.
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November 04, 2024
Federal Trade Commission Atty Returns To Katten In DC
An attorney who spent more than a decade at the Federal Trade Commission has returned to private practice at Katten Muchin Rosenman LLP, where he began his legal career, boosting the firm's offerings for clients as they navigate increased antitrust scrutiny and enforcement.
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November 04, 2024
Ford Gets New Trial In $1.7B Rollover Case In Georgia
The Georgia Court of Appeals on Friday ordered a new trial in a record-setting $1.7 billion rollover case against Ford Motor Co., saying it was "reluctantly" vacating the jury's verdict after finding that a trial court wrongly imposed issue preclusion sanctions that "almost completely prevented Ford from presenting a defense as to liability."
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November 04, 2024
Feds Slam Ozy Media CEO's 'Last-Ditch' Effort To DQ Judge
Prosecutors have pushed back against Ozy Media CEO Carlos Watson's "last-ditch effort" to get his fraud and identity theft convictions undone, insisting that investments owned by the New York federal judge overseeing his case are in hedge funds and not in Watson's victims, and are too small to matter.
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November 04, 2024
NFL Stakes Out Appeal Rights In Sunday Ticket Antitrust Fight
While the NFL was able to overturn a $4.7 billion antitrust jury verdict against its Sunday Ticket broadcasting package, the league is nevertheless staking out an appeal at the Ninth Circuit in case the fight is turned on its head again.
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November 11, 2024
Browne Jacobson Hires SRA Legal Chief As First-Ever GC
Browne Jacobson LLP said Monday that a legal chief at the Solicitors Regulation Authority has returned to the firm as its first-ever general counsel as it looks to ensure that it abides by the highest ethical standards.
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November 04, 2024
Ex-Twitter Execs Can Proceed With Severance Claim
Elon Musk and X Corp. can't escape four former executives' claim that Musk fired them to prevent them from receiving severance benefits after he struck the deal to buy the company formerly known as Twitter, a California federal judge ruled while also lifting a stay on discovery.
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November 04, 2024
Justices Skip TM Challenge To BofA's Virtual Assistant 'Erica'
The U.S. Supreme Court on Monday declined to review a Tenth Circuit decision that found Bank of America Corp. did not infringe a movie website owner's trademark with its virtual financial assistant "Erica."
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November 04, 2024
Vitamin Shoppe Owner Hits Ch. 11 After Take-Private Deal
The owner of the Vitamin Shoppe retail chain and other franchised businesses has filed for Chapter 11 protection in Delaware listing more than $1 billion in secured debt, about a year after the company went private with the intent of reducing its operating expenses.
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November 04, 2024
TGI Fridays Restaurant Chain Hits Ch. 11, Blaming Pandemic
Casual dining chain TGI Fridays Inc. filed for Chapter 11 protection in Texas with nearly $151 million in debt, blaming the COVID-19 pandemic and its capital structure and planning a sale within two months.
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November 04, 2024
Former FTC Northeast Director Joins Arnold & Porter
After 12 years in a senior role with the Federal Trade Commission, the former director of the agency's Northeast region has moved to private practice and joined forces with another former FTC enforcer he reported to for years, he told Law360 Pulse Friday.
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November 01, 2024
Real Estate Recap: Election Expectations, EB-5, $50B PE Bet
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including perspectives from real estate leaders ahead of Tuesday's election, takeaways from the Advanced EB-5 Industry Conference in Miami, and two private equity firms' $50 billion bet on data center and energy generation projects.
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November 01, 2024
Suit Calls School Lunch Pay Processors Junk Fee 'Bullies'
Three parents filed a proposed class action in New Jersey federal court alleging consumer fraud against a major school lunch payment processor, saying it has misrepresented the purpose of the "junk fees" it charges for electronic transactions that are imposed on families mostly just for profit.
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November 01, 2024
Fired Exec's Claims Cut From Aerospace Trade Secrets Case
An aerospace company's ex-president, who alleged defamation and unlawful termination in counterclaims against his former employer in a lawsuit accusing him of stealing its trade secrets to launch a rival business, saw all his claims get dismissed Friday in New Jersey federal court.
Expert Analysis
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Series
Teaching Scuba Diving Makes Me A Better Lawyer
As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.
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Navigating The Murky Waters Of Patent Infringement Damages
Recent cases show that there is no easy way to isolate an infringed patent’s value, and it would serve all sides well for courts to thoroughly examine expert opinions of this nature and provide consistent guidance for future cases, say Manny Caixeiro and Elizabeth Manno at Venable.
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SolarWinds Ruling Offers Cyber Incident Response Takeaways
The New York federal court's dismissal of all charges related to the 2019 Sunburst cyberattack is a devastating blow to the U.S. Securities and Exchange Commission's cybersecurity case against SolarWinds, but the well-reasoned opinion provides valuable lessons that may improve companies' defensive posture in the wake of a major cybersecurity incident, say attorneys at Troutman Pepper.
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Series
After Chevron: Delegation Of Authority And Tax Regulators
The U.S. Department of the Treasury and the Internal Revenue Service will face higher standards following Loper Bright’s finding that courts should determine whether agency rules meet the best possible interpretation of the tax code, as well as the scope of the authority delegated by Congress, says Edward Froelich at McDermott.
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3 Ways To Lower Insider Trading Risk After First 10b5-1 Case
In light of the U.S. Department of Justice's insider trading prosecution against the former CEO of Ontrack based on alleged abuse of a Rule 10b5-1 safe harbor plan — designed to allow executives to sell their companies' securities without liability — companies and individuals should take steps to avoid enacting similar plans in bad faith, say attorneys at Jenner & Block.
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Lawyers Can Take Action To Honor The Voting Rights Act
As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.
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Series
After Chevron: What Loper Bright Portends For The NLRB
While the U.S. Supreme Court has a long history of deferring to the National Labor Relations Board's readings of federal labor law, the court's Loper Bright v. Raimondo decision forces courts to take a harder look at the judgment of an agency — and the NLRB will not be immune from such greater scrutiny, says Irving Geslewitz at Much Shelist.
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PE Firms Should Prepare For Increased False Claims Scrutiny
The impact private equity firms may have over medical decisions and care is increasingly attracting potential liability under the False Claims Act and attention from states and the federal government, so investors should follow best practices including conducting due diligence both before and after acquisitions, say attorneys at K&L Gates.
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Proposed NIL Deal Leaves NCAA Antitrust Liability Door Open
The proposed House v. NCAA settlement filed in California federal court creates the possibility of significant direct payments to student-athletes for the first time, but the resulting framework is unlikely to withstand future antitrust scrutiny because it still represents an agreement among competitors to limit labor cost, says Yaman Desai at Lynn Pinker.
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Series
A Day In The In-House Life: Block CLO Talks Problem-Solving
Amid the busy summer months, Block Inc. Chief Legal Officer Chrysty Esperanza chronicles a typical Wednesday where she conquered everything from unexpected fintech regulatory issues and team building to Bay Area commutes and school drop-off.
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Series
After Chevron: ERISA Challenges To Watch
The end of Chevron deference makes the outcome of Employee Retirement Income Security Act regulatory challenges more uncertain as courts become final arbiters of pending lawsuits about ESG investments, the definition of a fiduciary, unallocated pension forfeitures and discrimination in healthcare plans, says Evelyn Haralampu at Burns & Levinson.
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Analyzing Advance Notice Bylaws On 'Clear' Or 'Cloudy' Days
In Kellner v. AIM ImmunoTech, the Delaware Supreme Court recently clarified the framework for judicial review of advance notice bylaws adopted, amended or enforced on "clear" or "cloudy" days, underscoring the responsibility of boards to ensure that their scope does not overreach or prevent the possibility of a contested election, say attorneys at Venable.
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Navigating Antitrust Considerations In ESG Collaborations
The intersection of ESG goals and antitrust laws presents a complex challenge for businesses and their counsel — but by creating clear frameworks for collaboration, adhering to established guidelines and carefully considering the competitive implications of their actions, companies can work toward sustainability while mitigating legal risks, say attorneys at Morgan Lewis.
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Justices' Intent Witness Ruling May Be Useful For Defense Bar
At first glance, the U.S. Supreme Court’s recent Diaz v. U.S. decision, allowing experts to testify to the mental state of criminal defendants in federal court, gives prosecutors a new tool, but creative white collar defense counsel may be able to use the same tool to their own advantage, say Jack Sharman and Rachel Bragg at Lightfoot Franklin.
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How To Grow Marketing, Biz Dev Teams In A Tight Market
Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.