Corporate

  • October 11, 2024

    Up Next At High Court: CBD Injuries & The Clean Water Act

    The U.S. Supreme Court will be closed Monday, but the justices will return to the bench Tuesday to hear arguments over whether the federal Racketeering Influenced and Corrupt Organizations Act allows litigants to pursue claims of economic harm tied to personal injuries, and how specific pollutant discharge limits have to be under the Clean Water Act.

  • October 11, 2024

    Judge OKs Deal In One Of EEOC's First PWFA Suits

    A Florida federal judge on Friday approved a nearly $100,000 consent decree between a Florida resort and a line cook fired when she requested time off after a stillbirth, in one of the U.S. Equal Employment Opportunity Commission's first batch of cases accusing employers of violating the Pregnant Workers Fairness Act.

  • October 11, 2024

    DOD Finalizes High-Profile Contractor Cybersecurity Rule

    The U.S. Department of Defense on Friday finalized a rule implementing its sweeping Cybersecurity Maturity Model Certification program, which will attach a minimum cybersecurity requirement to nearly all DOD contracts.

  • October 11, 2024

    IBM Unit Wants To Undo 'Troubling' Defamation Case Ruling

    An IBM unit has asked the Fourth Circuit to revive its lawsuit alleging a former executive's defamatory statements nearly killed a major acquisition, arguing that a lower court attempted to inject a new standard into its analysis.

  • October 11, 2024

    New Squarespace Suit Filed For Take-Private Docs

    A second shareholder of website builder Squarespace Inc. has sued in the Delaware Court of Chancery for books and records on the company's proposed $7.2 billion take-private deal with private equity giant Permira Advisors LLC, less than two weeks after the sidelining of an earlier books suit focusing on the same deal, which is set to expire late Oct. 11.

  • October 11, 2024

    Cornell Case Gives Justices Chance To Curb ERISA Litigation

    The U.S. Supreme Court's recent decision to hear a retirement fee suit from Cornell workers means new precedent is coming that could harmonize an uneven set of circuit standards for what it takes to pursue a prohibited transaction claim under federal benefits law, attorneys say.

  • October 11, 2024

    FTC's Republicans Take Aim At Agency Merger Data

    The Federal Trade Commission's two Republican members criticized a long-standing agency policy of reporting "abandoned" transactions that were never notified to the antitrust agencies as wins, while dissenting from an annual congressional report on merger reviews.

  • October 11, 2024

    Swiss Native Ran $8M International Stock Fraud, SEC Says

    A Swiss-born Massachusetts resident ran a years-long international fraud scheme by tricking investors, mainly from Europe, into investing with him and then absconding with the money, the U.S. Securities and Exchange Commission alleged in a Friday suit.

  • October 11, 2024

    BofA Must Face Iranian Bias Claims At 9th Circ.

    A Bank of America customer wants the Ninth Circuit to revive his proposed class action alleging the financial giant discriminates against Iranian citizens, according to a notice of appeal.  

  • October 11, 2024

    Gruden Gets Another Play, Could Keep NFL Suit In Court

    Former Las Vegas Raiders coach Jon Gruden will have another shot to keep from arbitration his case over the NFL's alleged torpedoing of his contract with leaks of his inflammatory emails, as the entire Nevada Supreme Court will consider the proper venue for the heated dispute.

  • October 11, 2024

    Quinn Emanuel Faces DQ Bid For Musk-Dogecoin Deal Leak

    Dogecoin investors want Quinn Emanuel Urquhart & Sullivan LLP to be disqualified in their case against Elon Musk and Tesla Inc. because the law firm and its attorneys publicly disclosed a confidential settlement offer in the contentious lawsuit.

  • October 11, 2024

    DOJ Tells Judge Boeing Plea Is 'The Best The Gov't Could Do'

    The federal government told a Texas federal judge Friday that its proposed deal with The Boeing Co. over allegations that it lied to safety regulators about the 737 Max 8's development is "the best the government could do," pushing back against vehement objection from crash victims' families, who called the deal "rotten" and "morally reprehensible."

  • October 11, 2024

    Boston Dynamics 'Took Advantage' Of Partner's Robotics IP

    Robot maker Boston Dynamics engaged in a "flagrant and secretive" breach of its nondisclosure agreement with a manufacturer by enabling a competitor to "reverse engineer" components it had built for the Massachusetts company, according to a state court lawsuit.

  • October 11, 2024

    Nintendo, Epic Games Dropped From Addictive Gaming Suit

    Nintendo of America Inc. and Epic Games Inc. have been dropped from a lawsuit filed against them and other well-known companies by a gamer who alleged they intentionally got users addicted to boost profits.

  • October 11, 2024

    RTX Warned By Judge Over 'Troubling' Settlement Delay

    A Massachusetts federal judge on Friday chided RTX for slow-walking the finalization of a settlement the defense contractor struck with a Connecticut company just before trial in a trade secrets dispute.

  • October 11, 2024

    'Bloodsport' Poaching Case To Mediate After Disputed Verdict

    An exasperated Boston federal judge on Friday talked two rival medical aesthetic device companies into a round of mediation with a magistrate judge to see if they could wrap up the fiercely litigated poaching case that's already resulted in a contested eight-figure verdict.

  • October 11, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    Deputy Attorney General Lisa Monaco warned compliance officers that TD Bank's historic settlement this month with U.S. authorities over anti-money laundering violations should serve as a lesson, and a report found the country's BigLaw firms have accelerated their environmental sustainability efforts but lack in areas like diversity, equity and inclusion. These are among the stories in corporate legal news you may have missed in the past week.

  • October 11, 2024

    Nippon To Sell JV Stake For $1 In Push To Close US Steel Deal

    Japan's Nippon Steel said Friday it has agreed to sell its stake in a 50-50 joint venture with ArcelorMittal to the European steelmaker for just $1, as Nippon seeks to address any antitrust concerns over its planned $14.9 billion acquisition of U.S. Steel.

  • October 10, 2024

    4 Key Details From TD's Historic $3.1B Money Laundering Deal

    U.S. authorities have levied some of the biggest, most serious penalties of their kind against TD Bank as part of a mammoth $3.1 billion anti-money laundering settlement announced Thursday. Here's a closer look at how the Canadian bank got here.

  • October 10, 2024

    Amazon Must Give FTC Doc On Prime 'Upsells'

    Amazon will have to turn over to the Federal Trade Commission the details of a presentation it made outlining how it upsells its Prime subscriptions as part of an enforcement lawsuit accusing the e-commerce behemoth of duping customers into signing up for the service.

  • October 10, 2024

    FTC's Final Merger Filings Overhaul Drops Labor Market Look

    The Federal Trade Commission on Thursday finalized its long-awaited overhaul to U.S. merger filing rules, dropping initial proposed requirements to submit preliminary deal drafts and labor market details, while also reinstating the "early termination" of reviews of benign tie-ups.

  • October 10, 2024

    Paxton Sanctions Attempt Is 'Intimidation Tactic,' Nonprofit Says

    A Houston civil rights nonprofit focusing on immigration is calling a sanctions motion from Texas Attorney General Ken Paxton an "intimidation tactic," telling a state appeals court that it shouldn't have to just accept whatever legal interpretation the state spits out or face sanctions.

  • October 10, 2024

    FINRA Fines Citadel Securities, IMC Over Audit Trail Reporting

    Citadel Securities LLC and IMC Financial Markets agreed to fines of $1 million and $1.2 million, respectively, to settle allegations from the Financial Industry Regulatory Authority that they failed to accurately or timely report tens of billions of equity and option orders to the consolidated audit trail.

  • October 10, 2024

    Live Nation Loses COVID-19 Physical Loss Insurance Claims

    A California federal judge has tossed Live Nation's claims in a lawsuit seeking coverage from Factory Mutual for physical loss or damage stemming from the coronavirus pandemic, holding that a recent ruling by California's highest court thwarted the entertainment giant's argument that the presence of COVID-19 made its property unsafe or unusable.

  • October 10, 2024

    Attys For Voyager Digital Users Get $1.3M After Earn Deal

    Attorneys representing a proposed class of users of the now-bankrupt cryptocurrency firm Voyager Digital Holdings will receive $1.3 million in fees after brokering the settlement of claims the company "aggressively marketed" unregistered securities.

Expert Analysis

  • Calif. Out-Of-State Noncompete Ban Faces Several Hurdles

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    California's attempt to bolster its noncompete law has encountered significant procedural and constitutional challenges, and litigating parties must carefully analyze not only the restrictive covenants contained in their agreements, but also the forum-selection and choice-of-law provisions, say Jennifer Redmond and Gal Gressel at Sheppard Mullin.

  • 2nd Circ. Case Reinforces Need For Advance Notice Bylaws

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    The Second Circuit's recent decision in Nano Dimension v. Murchinson illustrates that Section 13(d) of the Exchange Act is a square peg for a round hole, and that advance notice bylaws are far better at protecting against undisclosed coordination among activist shareholders, say attorneys at Morgan Lewis.

  • What Cos. Should Note In DOJ's New Whistleblower Pilot

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    After the U.S. Department of Justice unveiled a new whistleblower pilot program last week — continuing its efforts to incentivize individual reporting of misconduct — companies should review the eligibility criteria, update their compliance programs and consider the risks and benefits of making their own self-disclosures, say attorneys at Skadden.

  • Series

    After Chevron: New Lines Of Attack For FCA Defense Bar

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    Loper Bright has given defense counsel new avenues to overcome the False Claims Act elements of falsity and scienter, as any FCA claim based upon ambiguous statutory terms can no longer stand solely on agency regulations to establish the statute's meaning, which is itself necessary to satisfy the FCA's basic requirements, says Elisha Kobre at Bradley Arant.

  • Autonomy Execs' Acquittal Highlights Good Faith Instruction

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    The recent acquittal of two former Autonomy executives demonstrates that a good faith jury instruction can be the cornerstone of an effective defense strategy in white collar criminal cases, in part because the concept of good faith is a human experience every juror can relate to, says Sara Kropf at Kropf Moseley.

  • Series

    Teaching Scuba Diving Makes Me A Better Lawyer

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    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.

  • Navigating The Murky Waters Of Patent Infringement Damages

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    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.

  • SolarWinds Ruling Offers Cyber Incident Response Takeaways

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    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.

  • Series

    After Chevron: Delegation Of Authority And Tax Regulators

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    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.

  • 3 Ways To Lower Insider Trading Risk After First 10b5-1 Case

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    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.

  • Lawyers Can Take Action To Honor The Voting Rights Act

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    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.

  • Series

    After Chevron: What Loper Bright Portends For The NLRB

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    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.

  • PE Firms Should Prepare For Increased False Claims Scrutiny

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    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.

  • Proposed NIL Deal Leaves NCAA Antitrust Liability Door Open

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    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.

  • Series

    A Day In The In-House Life: Block CLO Talks Problem-Solving

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    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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