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Corporate
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November 20, 2024
Cleary Hires Milbank Atty For Capital Markets Team
Cleary Gottlieb Steen & Hamilton LLP announced the addition of a former Milbank LLP transactional attorney to its New York office on Wednesday, saying she will be an asset for its capital markets clients.
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November 20, 2024
Atty From Telecom Biz Joins IP Firm Panitch Schwarze
Panitch Schwarze Belisario & Nadel LLP has hired an attorney with extensive in-house experience in the tech industry to help enhance the intellectual property services it offers to its clients.
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November 20, 2024
Sidley-Guided Lifeway Rejects Second Danone Buyout
Lifeway Foods Inc. said Wednesday that its board has rejected a Nov. 15 revised offer from Danone North America PBC to buy the remainder of Lifeway for $27 per share, or roughly $306 million.
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November 20, 2024
TGI Fridays Gets OK On Bid Process As It Seeks Out Buyers
A Texas bankruptcy judge on Wednesday approved TGI Fridays' procedures for contacting and selecting prospective buyers for its assets after the struggling restaurant chain said it was in discussions with at least 21 potential bidders.
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November 20, 2024
Walgreens Wins Sanctions Over Depo With 300 Objections
An Illinois federal judge on Wednesday ruled Walgreens can recover the costs of a contentious deposition in a dispute with an electronics company, saying the witness "possessed virtually no knowledge" of the matters laid out in the deposition notice and the company's attorney engaged in "improper, obstructionist conduct" during the proceeding.
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November 20, 2024
Calif. Voters Reject Minimum Wage Hike In Rare Outcome
A slim majority of California voters shot down a ballot measure that would have raised the state's minimum wage to $18 an hour, the first time such a proposal has failed in any state in nearly three decades.
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November 20, 2024
Trump Wants 'Immediate Dismissal' Of NY Hush Money Case
President-elect Donald Trump's legal team told the New York judge who presided over his hush money trial that his conviction should be thrown out due to his "overwhelming victory" at the polls, according to a filing released Wednesday.
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November 20, 2024
Bankman-Fried Tech Deputy Who Parsed Code Avoids Prison
A Manhattan federal judge allowed tech expert Zixiao "Gary" Wang to avoid jail Wednesday for his role in the $11 billion FTX fraud, crediting his effort to detail programming "back doors" that enabled Sam Bankman-Fried to loot the bankrupt crypto exchange.
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November 19, 2024
Pfizer Unit Can't Get $75M Left In Insider Trading Deal Fund
A New York federal judge Tuesday agreed with the U.S. Securities and Exchange Commission that roughly $75.2 million leftover in settlement funds should be transferred to the U.S. Treasury — not a Pfizer subsidiary — now that distribution of the $602 million insider trading deal has concluded.
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November 19, 2024
Ex-OpenSea Staffer Says Insider Trading Verdict Must Fall
A former OpenSea manager accused of insider trading from digital tokens sold on his employer's platform urged the Second Circuit Tuesday to overturn his conviction, saying his ideas about what to feature on his company's website cannot be construed as property.
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November 19, 2024
Dell, Iron Bow To Pay $4.3M To End Army Overcharge Claims
Dell Technologies and Iron Bow Technologies have agreed to collectively pay more than $4.3 million to resolve allegations they orchestrated a scheme to overcharge the U.S. Army by submitting noncompetitive bids for a computing contract, the U.S. Department of Justice announced Tuesday.
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November 19, 2024
HP Joins Patent Pool After Resolving Suit Over 'Unfair' Terms
HP has agreed to join a patent pool for coding technology developed by companies like Dolby Laboratories, Mitsubishi and Philips, months after alleging that the group was engaging in "a money grab" to coerce it to accept "unfair and discriminatory licensing terms."
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November 19, 2024
What's On Deck At 10th Circ. Arguments In CPSC Magnet Case
On Wednesday, the Tenth Circuit will hear arguments over whether a rule from the Consumer Product Safety Commission over safety standards for high-powered magnets is overly broad and unconstitutional. Here, Law360 looks at what the parties are expected to argue.
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November 19, 2024
Dentons Atty Owed No Duty In $54M Currency Swap, Jury Told
A Hunton Andrews Kurth LLP partner on Tuesday defended the actions of a former Dentons attorney in a failed $54 million bolivar-to-dollars currency swap, telling jurors that she did not owe a duty to the Venezuelan attorney suing her for malpractice because she never represented him as his attorney.
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November 19, 2024
SEC's $196M Win Revived After Judge Fixes 'Scrivener's Error'
A Florida federal judge has granted a $196 million judgment against a group of fraudsters to the U.S. Securities and Exchange Commission after fixing what he called a "scrivener's error" in the original order that caused the Eleventh Circuit to overturn a part of the award in September.
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November 19, 2024
OpenAI Faces Copyright Case From Indian News Co.
An India-based multimedia news company has hit OpenAI with a copyright suit alleging the ChatGPT developer is wrongly using the agency's published works to feed the platform's program, making it the latest news business to sue over the software.
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November 19, 2024
Alaska Airlines Fights Emergency 9th Circ. Bid To Halt Merger
Alaska Airlines has urged the Ninth Circuit not to grant an emergency motion blocking its $1.9 billion acquisition of Hawaiian Airlines, saying the request was filed by flyers and travel agents "without an emergency" after they waited for four months to try to enjoin the airlines from merging.
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November 19, 2024
Calif. Biotech Firm Vera Taps Veteran Chief Legal Officer
Biotechnology firm Vera Therapeutics is welcoming a new chief legal officer in advance of an anticipated biologics submission to the U.S. Food and Drug Administration for a treatment targeting an autoimmune kidney disease.
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November 19, 2024
EEOC Says SkyWest Left Harassment Questions 'Unasked'
The Equal Employment Opportunity Commission told jurors Tuesday to "look at the questions" SkyWest Airlines didn't ask when an employee told the company she was experiencing persistent sexual harassment and that the company should've responded sooner.
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November 19, 2024
Court Won't Toss Consumer Antitrust Case Against Amazon
A Washington federal court issued a sealed order Tuesday denying Amazon's bid to toss updated claims from consumers seeking billions of dollars over allegations that they pay higher prices thanks to the e-commerce giant's treatment of sellers on its platform.
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November 19, 2024
32 State AGs Urge Congress To Back Kids' Online Safety Bill
More than 30 state attorneys general urged federal lawmakers to back bipartisan legislation aimed at bolstering youth safety online, writing a letter Monday encouraging Congress to "act to aid our state-level efforts" which included opening investigations and commencing with litigation against social media companies like TikTok and Meta.
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November 19, 2024
Undefined Terms Cinch Cloudera's Win In 'Cloudy' Fraud Suit
The Ninth Circuit on Tuesday upheld the dismissal of a proposed class action against Cloudera Inc. alleging the data management and analytics company duped investors into buying stock at artificially inflated prices, saying the suit didn't substantiate its falsity claims with clear definitions for terms like "cloud native."
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November 19, 2024
DOJ Effort To Force Google Chrome Sale Draws Criticism
Google's regulatory chief and at least one trade group are blasting a reported push from the U.S. Department of Justice to seek expansive remedies and potentially force a sale of Google Chrome in an ongoing court battle with the tech giant.
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November 19, 2024
After Biden-Era Rebuild, EPA Staff Brace For Trump Term 2
Many U.S. Environmental Protection Agency employees are gearing up for President-elect Donald Trump's second term with a promise to fight any efforts to dramatically reduce staffing levels and pointing to new union contract protections to bolster claims that they're prepared.
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November 19, 2024
Advertisers Fight Google's Arbitration Bid In Ad Tech MDL
A pair of advertisers seeking to represent a class in multidistrict litigation accusing Google of monopolizing key digital ad technology are fighting a bid to push their claims to arbitration, arguing Google's arbitration agreements are unenforceable.
Expert Analysis
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Navigating DOJ's Patchwork Whistleblower Regime
In the past few months, the U.S. Department of Justice and several individual U.S. attorney’s offices have issued different pilot programs aimed at incentivizing individuals to blow the whistle on misconduct, but this piecemeal approach may create confusion and suboptimal outcomes, say attorneys at BakerHostetler.
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So You Want To Move Your Law Practice To Canada, Eh?
Google searches for how to move to Canada have surged in the wake of the U.S. presidential election, and if you’re an attorney considering a move to the Great White North, you’ll need to understand how the practice of law differs across the border, says David Postel at Henein Hutchison.
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A Look At Similarities Between SOX And SEC's Cyber Rule
Just as the Sarbanes-Oxley Act paved the way for greater transparency and accountability in financial reporting, the SEC's cybersecurity rule is doing much the same for cybersecurity, ensuring that companies are resilient in the face of growing cyber threats, says Padraic O'Reilly at CyberSaint.
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Trump Rollback Of Biden Enviro Policies: What To Expect
Donald Trump's upcoming second presidential term will usher significant shifts in U.S. environmental and natural resource law and policy — and while the Biden administration is racing to secure its legacy, the incoming Trump administration is making plans to dramatically roll back most, if not all, of Biden's environmental initiatives, say attorneys at Beveridge & Diamond.
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Class Actions At The Circuit Courts: November Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses six federal court decisions that touch on Rule 23 of the Federal Rules of Civil Procedure, and when individual inquiries are needed to prove economic loss.
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Why K-Cup Claims Landed Keurig In Hot Water With SEC
The U.S. Securities and Exchange Commission's recent settlement with Keurig Dr. Pepper for making incomplete statements regarding the recyclability of K-cup pods highlights the importance of comprehensive corporate disclosures, particularly with respect to ESG matters, say attorneys at BCLP.
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Predicting Shareholder Activism Trends In New Trump Admin
While President-elect Donald Trump has promised tax policies, deregulation and lax antitrust enforcement — which all fuel shareholder activism — a closer look at his first administration's track record suggests that his second presidency might be a mixed bag for activist investors and companies alike, say attorneys at Sidley.
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Destination Skiing And The DOJ's Mountain Merger Challenge
Attorneys at Robins Kaplan consider what the U.S. Department of Justice's second request for information portends for Alterra's acquisition of Colorado's Arapahoe Basin ski area, exploring the potential consequences for market definition, industry consolidation and the transformation of the lift ticket market.
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Putting NYDFS AI Cybersecurity Guidance Into Practice
New guidance from the New York Department of Financial Services explains how financial institutions should assess and mitigate cybersecurity risks associated with artificial intelligence, focusing on four main threats and highlighting how varying environments require specific mitigation measures, say attorneys at Saul Ewing.
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Copyright Questions Surround AI Music Platform Suits
If recent lawsuits filed by the Recording Industry Association of America against two artificial intelligence music platform developers — who maintain that use of copyrighted works to train AI models constitutes fair use — go to trial, this novel issue will make for potentially precedent-setting decisions, says intellectual property lawyer Eric Lane.
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Promoting Diversity In The Selection Of ADR Neutrals
Excerpt from Practical Guidance
Choosing neutrals from diverse backgrounds is an important step in promoting inclusion in the legal profession, and it can enhance the legitimacy and public perception of alternative dispute resolution proceedings, say attorneys at Lowenstein Sandler.
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Opinion
In Visa Case, DOJ Continues To Misapply The Sherman Act
The recent U.S. Department of Justice debit market monopolization case against Visa fuels concerns that a misguided Biden administration DOJ is inappropriately expanding its interpretation of the Sherman Antitrust Act beyond the demonstrable economic effects that business conduct has on consumers, says Shubha Ghosh at Syracuse University.
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Series
Playing Ultimate Makes Us Better Lawyers
In addition to being fun, ultimate Frisbee has improved our legal careers by emphasizing the importance of professionalism, teamwork, perseverance, enthusiasm and vulnerability, say Arunabha Bhoumik and Adam Bernstein at Regeneron.
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Dissecting New Circuit Split Over SEC's Proxy Adviser Rule
The Sixth Circuit recently upheld the U.S. Securities and Exchange Commission's partial rescission of enhanced conflict-of-interest disclosure requirements for proxy voting advice businesses, creating a circuit split over broader questions concerning the standard for assessing the legality of agency actions in general, say attorneys at Cahill Gordon.
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Curious Case Of FTC's Amicus Brief In Teva Fed. Circ. Appeal
Attorneys at BCLP explore the Federal Trade Commission's backing of Amneal's Orange Book-delisting efforts on Teva ahead of a key Federal Circuit hearing in a case between the two pharmaceutical companies, and wonder if the FTC amicus brief indicates a future trend, especially in the next administration.