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Corporate
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September 20, 2024
Calif. Panel Backs VW Drivers' $3.5M Data Breach Deal
California appellate justices have upheld Volkswagen and Audi drivers' $3.5 million data breach settlement and rejected an objector's request to intervene and vacate judgment, finding that her disagreement with their litigation strategy doesn't mean her interests weren't adequately represented.
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September 20, 2024
Del. Justices Uphold Toss Of AmerisourceBergen Syringe Suit
Delaware's Supreme Court upheld with little comment Friday a lower court dismissal of a nearly 5-year-old shareholder derivative suit accusing AmerisourceBergen Corp. directors of failing to investigate and stop illegal repackaging of cancer drugs.
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September 20, 2024
Employment Authority: DOL's Strategies After Chevron Ruling
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on how effective the U.S. Department of Labor's tactics have been after the U.S. Supreme Court nixed the Chevron doctrine, the Federal Trade Commission's challenge to a proposed merger between Kroger and Albertsons highlights the overlap between labor law and antitrust enforcement and a look at the U.S. Equal Employment Opportunity Commission's enforcement efforts on the nation's newest civil rights laws.
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September 20, 2024
JPMorgan Chase Sued Again Over Cash 'Sweep' Program
JPMorgan Chase & Co. was hit with another proposed class action in California federal court claiming the bank's cash sweep investment program funnels customer funds into low-interest bearing accounts at its affiliate Chase Bank, a move that benefits the financial giant while depriving customers of the chance to earn the market-rate interest.
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September 20, 2024
Lawmakers Ask USPTO To Fix Patent Calculation Problem
Federal patent officials need to change standards that could let drug companies hold on to patent rights beyond the time frame they are entitled to, according to federal lawmakers.
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September 20, 2024
Ex-Healthcare Exec Can't Sue GC Over Probe Advice
A former Baxter International treasurer who was fired amid an investigation into improper foreign exchange transactions was correctly blocked from pursuing claims against the healthcare company and its general counsel over advice he received on navigating the probe, an Illinois appellate panel said Friday.
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September 20, 2024
2 SEC Commissioners Object To Whistleblower Award Secrecy
U.S. Securities and Exchange Commissioners Mark Uyeda and Hester Peirce have objected to the agency's recent decision to hand out a total of $122 million in two awards to four whistleblowers and issued a statement taking issue with the regulator's policy of saying little to nothing about why the rewards are issued.
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September 20, 2024
Silvergate Wants Activist Investor's Board Seat Play Blocked
The parent company of Silvergate Bank, a defunct bank that catered to the cryptocurrency industry, has asked the judge in its Delaware bankruptcy case to help head off what it described as an activist investor's effort to score a seat on the debtor's board so he can try to secure a payout for shareholders who are set to receive nothing under a Chapter 11 plan.
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September 20, 2024
J&J Makes Third Try At Handling Talc Claims In Bankruptcy
A Johnson & Johnson talc unit filed for Chapter 11 protection in Texas bankruptcy court Friday, marking the third time the company has tried to deal with liability from alleged asbestos-contaminated talc with a bankruptcy filing.
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September 20, 2024
Microsoft Accused Of Racial Bias By Ex-Diversity Professional
A former Microsoft employee tasked with helping advance diversity and inclusion efforts has filed a discrimination suit in Washington state court accusing the tech giant of an "ongoing campaign of intimidation, discrimination, and retaliation" against its Black female employees.
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September 20, 2024
Panera Can't Delay Trial Over Shook Hardy Attys' Schedule
A Pennsylvania federal judge denied Panera Bread's repeated requests to delay a wrongful death trial, finding the restaurant chain will not be prejudiced if its desired Shook Hardy & Bacon LLP counsel cannot attend, as "plenty" of Shook Hardy lawyers can stand in, the judge said.
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September 20, 2024
Meruelo Group CLO Returns To Ballard Spahr As Partner
A longtime Ballard Spahr attorney who spent the past three years as chief legal officer at the Meruelo Group this week began his second stint as a partner at the law firm.
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September 20, 2024
Ex-Stradley Ronon Securities Leader Joins Chapman In DC
An attorney with more than two decades of experience in investment securities has moved his practice to Chapman and Cutler LLP's Washington, D.C., office after 22 years with Stradley Ronon Stevens & Young LLP.
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September 20, 2024
GC Cheat Sheet: The Hottest Corporate News Of The Week
The SEC will likely need to clear up confusion about fiduciary investment advice standards after two judges halted new retirement security regulations from the Labor Department. Meanwhile, the changing cyberinsurance market heads for what could be a seismic shift, as more insurers scale back standard IT breach policies. These are among the stories in corporate legal news you may have missed in the past week.
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September 20, 2024
Steel Biz Investors Sue Atty Over 'Father-Son'-Like Conflict
A Pennsylvania couple have filed a malpractice suit accusing a lawyer of helping a steel distribution company induce them into investing about $800,000 and defrauding them, saying the attorney didn't disclose his relationship with the company's owners and "father-son"-like bond with one of them.
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September 20, 2024
FTC Accuses Drug Middlemen Of Raising Insulin Prices
The Federal Trade Commission on Friday accused the three largest pharmacy benefits managers, Caremark Rx, Express Scripts and OptumRx, of artificially inflating insulin prices by relying on unfair rebate schemes that hurt competition.
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September 19, 2024
Publishers 'Did Not Trust Google,' Former Ad Tech Exec Says
A former Google executive acknowledged Thursday that at least some website publishers sought a workaround to the search giant's advertising placement technology because they didn't trust the company's consolidated control, which the Justice Department has challenged in a Virginia federal courtroom.
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September 19, 2024
Republicans Air Grievances At House Hearing on FTC Practices
The Federal Trade Commission ought to stick to combating consumer scams and leave the competition regulation alone — that was the general tenor of Republicans on Wednesday morning at a House hearing about the agency's past and present practices.
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September 19, 2024
Chancery Fast-Tracks Suit Over Renewable Energy Co. Buyout
Delaware's Court of Chancery on Thursday expedited a lawsuit accusing a Repsol SA subsidiary of breaching an agreement requiring it to buy out the remaining shares in a Chicago-based renewable energy venture the Repsol unit co-owns.
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September 19, 2024
Birkin Bag Lovers Must Rework Antitrust Suit, Judge Says
A California federal judge said Thursday that consumers behind a proposed antitrust class action accusing Hermes of unlawfully tying the sale of its iconic Birkin handbag to other expensive items should amend their complaint, since the current version doesn't show how the luxury fashion retailer has foreclosed competition.
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September 19, 2024
Publishers Back Music Companies' Bid To Restore $1B Win
Organizations that represent music publishers and songwriters urged the U.S. Supreme Court on Thursday to review a Fourth Circuit ruling that scrapped a $1 billion jury verdict against Cox Communications Inc. for ignoring online piracy, saying the three-judge appeal panel's conclusion "effectively immunizes internet service providers" from vicarious liability.
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September 19, 2024
Apple's $490M Deal Over China Sales OK'ed, Attys Get $110M
A California federal judge approved Apple Inc.'s $490 million securities fraud settlement under which class counsel will receive $110.45 million in fees and costs plus interest, resolving years-old litigation alleging Apple and its top brass misled investors about iPhone sales in China.
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September 19, 2024
Potomac Law Group Adds Morgan Lewis Partner
A former Morgan Lewis & Bockius LLP real estate attorney has joined Potomac Law Group, framing the move as a strategic shift out of BigLaw amid a "sluggish" transactional environment.
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September 19, 2024
NC Justice Dept. Resolves Atty's Sex, Race Bias Suit
The North Carolina Department of Justice agreed to settle a Black attorney's lawsuit alleging she was passed over for promotion in favor of a less qualified white man, according to court filings, just weeks after a federal judge refused to toss the case.
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September 19, 2024
Senate Panel Holds Steward CEO In Contempt After No-Show
A U.S. Senate committee voted unanimously Thursday to hold Steward Health Care CEO Ralph de la Torre in civil and criminal contempt after he defied a subpoena to testify about the bankrupt health system's downfall.
Expert Analysis
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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.
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Jarkesy's Impact On SEC Enforcement Will Be Modest
Though the U.S. Supreme Court’s recent U.S. Securities and Exchange Commission v. Jarkesy decision found that fraud defendants have a constitutional right to a jury trial, the ruling will have muted impact on the agency’s enforcement because it’s already bringing most of its cases in federal court, say Jeremiah Williams and Alyssa Fixsen at Ropes & Gray.
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Opinion
Data Breach Reporting Requirements Must Change In AI Age
Outdated data breach reporting laws are inadequate to protect consumers in the age of artificial intelligence, as AI’s ability to determine relationships coupled with its improvements to deepfake technology mean that the very definitions used in breach reporting laws are no longer sufficient, says Collin Walke at Hall Estill.
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Series
Rock Climbing Makes Me A Better Lawyer
Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.
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What Chevron's End Means For How Congress Does Business
The U.S. Supreme Court’s recent Loper Bright Enterprises v. Raimondo decision, overturning the Chevron doctrine, will have a far-reaching impact across the entire public policy life cycle, beginning with how Congress writes its laws and extending through agency implantation and judicial review, say attorneys at K&L Gates.
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Think Like A Lawyer: Dance The Legal Standard Two-Step
From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.
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Alice Step 2 Trends Show Courts' Extrinsic Evidence Reliance
A look at recent trends in how district courts are applying Step 2 of the Alice framework shows that courts have increasingly relied on extrinsic evidence to help determine whether a claimed invention is "well-understood, routine, and conventional," says Jonathan Tuminaro at Sterne Kessler.