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Corporate
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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?
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August 06, 2024
Gibson Dunn Guiding Veritas On $2.45B Cloud Banking Buy
Gibson Dunn is advising Veritas Capital on a deal to purchase the cloud-based digital banking business of NCR Voyix Corp., represented by King & Spalding, for $2.45 billion in cash plus a potential future payment of up to $100 million, NCR Voyix said in a statement Tuesday.
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August 05, 2024
Elon Musk Can't Beat Twitter Investors' Suit Over Bot Claim
A California federal judge on Monday denied Elon Musk's bid to escape a shareholder suit alleging he misled Twitter investors by claiming the company had to provide information on an alleged bot problem before he could move forward with his $44 billion acquisition, saying Musk leaned on already-rejected arguments.
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August 05, 2024
Pluralsight's $20M Settlement With Investors Gets Initial OK
A Utah federal judge has given his preliminary blessing to Pluralsight Inc.'s proposed $20 million settlement with a certified class of investors accusing the cloud-based and video training courses provider of securities fraud, according to an order issued Friday.
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August 05, 2024
Chamber, Others Back 9th Circ. Ax Of Shopify Privacy Row
The U.S. Chamber of Commerce and several tech trade groups are among those pushing the full Ninth Circuit to affirm the toss of a proposed class action accusing Shopify of unlawfully collecting shoppers' sensitive information, arguing that overriding the decision would unfairly allow plaintiffs to sue online businesses in any court across the country.
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August 05, 2024
Kia Atty Reduced To 'Monty Python' Knight By Tentative Order
Kia and Hyundai's attorney told a California federal judge Monday that his tentative order denying the companies' motion to dismiss Chicago's claims in multidistrict litigation over car thefts left him feeling like the knight in "Monty Python and the Holy Grail" who loses his arms and legs but keeps fighting.
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August 05, 2024
DOJ Wants Google Held Accountable For Deleted Chats
The U.S. Department of Justice has told the Virginia federal court overseeing the government's case accusing Google of monopolizing key digital advertising technology the company needs to be held accountable for implementing policies that destroyed evidence.
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August 05, 2024
Manufacturer Can't Get Coverage For BIPA Class Action
An Illinois federal judge awarded a win to an insurer Monday in a suit over coverage of underlying Biometric Information Privacy Act litigation, finding a contractual exclusion prevented coverage for a machine and plastics manufacturer accused of failing to secure employee data.
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August 05, 2024
CFPB's Buy-Now, Pay-Later Policy In House GOP Crosshairs
Republican members of Congress have taken aim again at the Consumer Financial Protection Bureau's recent guidance requiring that some of the protections provided to credit card users be applied to buy-now, pay-later loans, putting forward a new measure that would overturn what the lawmakers argue is a "destructive," overreaching policy.
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August 05, 2024
TikTok Tells DC Circ. That Feds Can't Keep Filings Secret
TikTok told the D.C. Circuit on Monday that the U.S. government shouldn't be allowed to conceal its court filings in litigation over a federal law that could ban the popular social media platform in the United States.
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August 05, 2024
$96M Award Cut To $34M After Justices' Lanham Act Ruling
An Oklahoma federal judge on Monday reduced a $96 million trademark infringement award that went to the U.S. Supreme Court to about $34.4 million after justices concluded last year the Lanham Act applies only to domestic conduct in commerce.
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August 05, 2024
Morgan Stanley Says SEC Eyeing Its Cash Sweep Policies
Morgan Stanley told investors on Monday that it is fielding enforcement inquiries from the U.S. Securities and Exchange Commission about its investment account cash sweep policies.
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August 05, 2024
EBay Resists Calif. Damages In Mass. Stalking Case
Married Massachusetts bloggers who were stalked and terrorized by eBay Inc. employees shouldn't be able to seek punitive damages available under California law while having Massachusetts law otherwise govern liability for their myriad civil claims, the e-commerce giant is arguing.
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August 05, 2024
Indivior Accused Of Overstating Prospects Of 3 Opioid Drugs
Drugmaker Indivior PLC has been hit with a proposed investor class action in Virginia federal court over claims it overstated the financial prospects of its drugs used to treat opioid use disorders and the company's ability to forecast such financial projections.
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August 05, 2024
Petrobras Manipulating US Law For $2B, 5th Circ. Hints
A Fifth Circuit judge accused a Brazilian state-owned oil company subsidiary of "hiding behind the corporate structure," saying during oral arguments on Monday that subsidiary Petrobras America Inc. was seemingly manipulating American law for treble damages totaling nearly $2 billion stemming from allegations of bribery.
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August 05, 2024
SEC, Other Regulators Propose Joint Data Standards
The U.S. Securities and Exchange Commission, the Commodity Futures Trading Commission, the Consumer Financial Protection Bureau and six other regulators are crafting joint standards required by bipartisan legislation aiming to modernize the collection and publication of those agencies' financial data, the SEC announced Friday.
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August 05, 2024
DXC Investor's Suit Says Execs Overhyped Integration Efforts
A DXC Technology investor filed a proposed class action in Virginia federal court Friday alleging the information technology giant over-touted its "transformation journey" and efforts to reduce restructuring and integration costs after acquiring several companies that caused investors to buy DXC common stock at artificially inflated prices.
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August 05, 2024
Music, Movie Orgs. Address Deepfake Proposals
Representatives from the music, movie and video game industries were among the speakers Monday at a U.S. Patent and Trademark Office roundtable regarding what legislation may be needed to address the explosion of deepfakes created with the growing power of artificial intelligence.
Expert Analysis
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Opinion
Del. Needs To Urgently Pass Post-Moelis Corporate Law Bill
After the Delaware Chancery Court's decision in West Palm Beach Firefighters' Pension v. Moelis sparked confusion around governance rights, recently proposed amendments to the Delaware General Corporation Law would preserve the state's predictable corporate governance system, says Lawrence Hamermesh at Widener University Delaware Law School.
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Cos. Must Stay On Alert With Joint Employer Rule In Flux
While employers may breathe a sigh of relief at recent events blocking the National Labor Relations Board's proposed rule that would make it easier for two entities to be deemed joint employers, the rule is not yet dead, say attorneys at Day Pitney.
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Key Insurance Considerations After $725M Benzene Verdict
The recent massive benzene verdict in Gill v. Exxon Mobil will certainly trigger insurance questions — and likely a new wave of benzene suits — so potential defendants should study Radiator Specialty v. Arrowood Indemnity, the only state high court decision regarding benzene claim coverage, says Jonathan Hardin at Perkins Coie.
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Fed. Circ. Scrapping Design Patent Tests Creates Uncertainty
The Federal Circuit last week discarded established tests for proving that design patents are invalid as obvious, leaving much unknown for design patent applicants, patentees and challengers, such as what constitutes analogous art and how secondary references will be considered and applied, say attorneys at Sterne Kessler.
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Series
Playing Music Makes Me A Better Lawyer
My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.
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How AI Cos. Can Cope With Shifting Copyright Landscape
In the evolving landscape of artificial intelligence, recent legal disputes have focused on the utilization of copyrighted material to train algorithms, meaning companies should be aware of fair use implications and possible licensing solutions for AI users, say Michael Hobbs and Justin Tilghman at Troutman Pepper.
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How Attys Can Avoid Pitfalls When Withdrawing From A Case
The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.
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One Contract Fix Can Reduce Employer Lawsuit Exposure
A recent Fifth Circuit ruling that saved FedEx over $365 million highlights how a one-sentence limitation provision on an employment application or in an at-will employment agreement may be the easiest cost-savings measure for employers against legal claims, say Sara O'Keefe and William Wortel at BCLP.
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Opinion
DOJ Messaging App Warnings Undermine Trust In Counsel
The U.S. Department of Justice Antitrust Division's increasingly ominous warnings to defense and in-house counsel about the consequences of not preserving ephemeral messaging and messages sent using collaboration tools could erode confidence and cooperation, says Mark Rosman at Proskauer.
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How Real Estate Cos. Can Protect Their IP In The Metaverse
The rise of virtual and augmented reality creates new intellectual property challenges and opportunities for real estate owners, but certain steps, including conducting a diligence investigation to develop an understanding of current obligations, can help companies mitigate IP issues in the metaverse, says George Pavlik at Levenfeld Pearlstein.
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Using A Children's Book Approach In Firm Marketing Content
From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.
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The State Of Play In DEI And ESG 1 Year After Harvard Ruling
Almost a year after the U.S. Supreme Court decided Students for Fair Admissions v. Harvard, attorney general scrutiny of environmental, social and governance-related efforts indicates a potential path for corporate diversity, equity and inclusion initiatives to be targeted, say attorneys at Crowell & Moring.
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CFPB Poised To Up The Ante After Supreme Court Victory
When the U.S. Supreme Court emphatically ruled last week that the Consumer Financial Protection Bureau's funding structure did not violate the Constitution, the agency boasted that it was "here to stay," signaling that it is moving full steam ahead with its regulatory, enforcement and supervisory agenda, says Jim Sandy at McGlinchey Stafford.
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2nd Circ. Ruling Affirms NY Law's Creditor-Friendly Approach
The Second Circuit’s recent ruling in 245 Park Member v. HNA International provides creditors with some reason for optimism that debtors in New York may face rejection in court for aiming to keep creditors at arm’s length by transferring personal assets into an LLC, says Jeff Newton at Omni Bridgeway.
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2 Oil Trader FCPA Pleas Highlight Fine-Reduction Factors
Recent Foreign Corrupt Practices Act settlements with Gunvor and Trafigura — the latest actions in a yearslong sweep of the commodities trading industry — reveal useful data points related to U.S. Department of Justice policies on cooperation credit and past misconduct, say Michael DeBernardis and Laura Perkins at Hughes Hubbard.