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October 21, 2024
Mastercard's Legal Chief Departs For Tech Co. Coherent
Rob Beard is leaving his post as Mastercard Inc.'s chief legal officer and global policy head to join Coherent Corp. as its CLO, the industrial laser technology company announced Monday.
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October 21, 2024
EV Charging Co. Defeats Investor Suit Over Merger Statements
A California federal judge on Monday threw out, for good, an investor suit accusing electric-vehicle charging company Volta Inc. of making false and misleading statements around the time of its merger, finding once again that the investors failed to show how the statements were actually false and misleading.
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October 21, 2024
$77M WeWork Bid Was Fraud 'From Beginning To End,' Jury Told
New York federal prosecutors made their final pitch on Monday to jurors weighing the fate of the former CEO of real estate investment firm Arciterra accused of manipulating the market through a bogus $77 million tender offer to take control of WeWork, saying it was a sophisticated fraud and not a real play for control of the company.
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October 21, 2024
Target Wants Sanctions For 'Bogus' BIPA Suit
An Illinois federal judge should sanction a group of Target customers and their lawyers for pursuing a facial recognition privacy case even though the plaintiffs had seen evidence their legal theory was "bogus," the retail giant says.
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October 21, 2024
2nd Circ. Axes Claims Victoria's Secret Mogul Aided Epstein
The Second Circuit on Monday refused to revive a suit accusing billionaire developer and Victoria's Secret tycoon Leslie Wexner, his wife and four of their organizations of facilitating Jeffrey Epstein's sexual assault of a minor, finding the appeal improperly raised new arguments.
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October 21, 2024
SEC To Focus On Advisers' Investment Outsourcing In '25
U.S. Securities and Exchange Commission examiners are poised to generally stay the course with their exam priorities in the coming year, with a particular focus on investment advisers that outsource their investment functions, according to a report released Monday.
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October 21, 2024
WisdomTree Will Pay $4M To End SEC ESG Fund Allegations
WisdomTree Asset Management Inc. on Monday agreed to pay $4 million to settle allegations by the U.S. Securities and Exchange Commission that the adviser made misstatements concerning exchange-traded funds focused on environmental, social and governance causes.
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October 21, 2024
Madigan Part Of 'Corruption At The Highest Levels,' Jury Told
Former Illinois House Speaker Michael Madigan and his loyal right hand Michael McClain engaged in an eight-year "campaign of bribery," leveraging his public office and leadership roles to steer business to Madigan's property tax law firm, enrich his allies with do-nothing jobs and maintain his considerable political power, prosecutors told an Illinois federal jury Monday.
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October 21, 2024
SEC, CFTC Chairs Talk Crypto, AI & Wall Street Texting Sweep
The leaders of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission appeared before an audience of top financial professionals Monday to discuss the future of cryptocurrency and artificial intelligence regulations and to defend against accusations that ongoing probes of brokers' use of off-channel communications were too harsh.
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October 21, 2024
X Corp. 'Sabotaging' Discovery Process, Media Matters Says
Left-leaning watchdog Media Matters for America says that X Corp. is "jamming the wheels of discovery" by refusing to answer questions or provide documents relating to Elon Musk's role in the site's content moderation, asking a Texas federal court Friday to order X to comply.
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October 21, 2024
In OpenAI Copyright Case, Court Told, 'Too Many Cooks'
Lawyers for some of the media companies and groups hitting up OpenAI and Microsoft with copyright cases say they have major reservations about marrying their cases, warning about rushed discovery and "forcing too many cooks into the same kitchen."
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October 21, 2024
Google, Meta Want Out Of GoodRx Health Data Sharing Suit
Google, Meta Platforms and Criteo have asked a California federal court to cut them loose from litigation alleging that GoodRx improperly shared patients' protected health information with the tech companies, saying the claims are "fundamentally flawed."
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October 21, 2024
US, Land Donor Settle Fight Over $1.9M Cut To Deduction
The federal government settled a suit brought by a Louisiana partnership that accused the IRS of using a flawed appraisal to drive down its tax deduction for a land donation by nearly $1.9 million, according to Louisiana federal court filings.
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October 21, 2024
Tesla Used AI 'Blade Runner 2049' Image For Sales, Suit Says
When Alcon Entertainment wouldn't let Tesla use an image from "Blade Runner 2049" in an event live-streamed from a Warner Bros. Discovery studio to promote an autonomous taxicab, the electric vehicle giant used an infringing image created by artificial intelligence, according to a lawsuit filed Monday in California federal court.
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October 21, 2024
SpaceX Firing Suit Belongs In State Court, Ex-Workers Say
Terminated SpaceX employees on Monday urged a California federal judge to remand their hostile work environment and retaliation case to state court due to lack of diversity jurisdiction, arguing that when they first sued, SpaceX's principal place of business was Hawthorne, California, not Starbase, Texas, where the company later moved.
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October 21, 2024
2nd Circ. Won't Revive $500M Plunge Suit Against Wells Fargo
The Second Circuit on Monday refused to revive a proposed class action accusing Wells Fargo of causing a Chicago fund manager to lose at least $500 million by wrongfully forcing the liquidation of its mutual fund and other investments, finding that the district court was correct in dismissing the suit entirely.
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October 21, 2024
Ex-CFO Almost Pleads Guilty Before Snafu Snags Hearing
The former chief financial officer of a Detroit nonprofit admitted in Michigan federal court on Monday that he is guilty of siphoning more than $40 million from the organization, but the plea hearing was derailed and adjourned after his attorney flagged an issue with the plea agreement to the court.
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October 21, 2024
Hooters, EEOC Strike Deal To End Post-COVID Rehiring Suit
Hooters will pay $250,000 to resolve a U.S. Equal Employment Opportunity Commission lawsuit claiming it failed to bring back most of its Black employees when it reopened a North Carolina restaurant during the COVID-19 pandemic, according to a filing in federal court Monday.
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October 21, 2024
Ontrak Jury Lacked Key Compliance Instruction, Judge Told
Counsel for convicted Ontrak founder Terren Peizer urged a California federal judge Monday to grant a new trial in the healthcare executive's novel insider trading case, saying jurors weren't properly instructed that they should acquit if Peizer's $20 million share sale was blessed by a compliance officer.
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October 21, 2024
Ogletree Shareholder Who Went In-House 'Returning Home'
Communications company WPP Group USA's vice president and counsel for the Americas rejoined Ogletree Deakins Nash Smoak & Stewart PC on Monday as a labor and employment shareholder, the firm said.
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October 21, 2024
Eversheds Sutherland Adds NCAA Veteran To Education Team
Eversheds Sutherland announced Monday that it has added the former associate director of enforcement for the National Collegiate Athletic Association to bolster its higher education services and its global sports practice.
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October 21, 2024
News Corp. Subsidiaries Hit AI Co. With Copyright Suit
The publishers behind the Wall Street Journal and the New York Post have said in a new lawsuit that an artificial intelligence company is ripping off the news organizations' work, saying the AI company's "answer engine" has copied huge amounts of copyrighted material.
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October 21, 2024
DJI Challenges DOD's Chinese Military Co. Designation
Drone manufacturer DJI has challenged its listing as a Chinese military company in D.C. federal court, saying the U.S. Department of Defense's designation was supported by "scattershot" reasoning and has harmed the company's finances and reputation.
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October 21, 2024
McGuireWoods Adds Healthcare Atty From Cooley In NY
McGuireWoods LLP has added a digital health expert from Cooley LLP, aiming to boost its offerings for clients in the space combining healthcare services with information and communications technology, the firm announced Monday.
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October 21, 2024
Food Giant Yum Taps 20-Year Vet As CLO Amid Top Atty's Exit
Erika Burkhardt, who has been a lawyer with fast food giant Yum! Brands Inc. for 20 years, is being promoted to chief legal officer of the company, whose brands include Pizza Hut, Kentucky Fried Chicken and Taco Bell.
Expert Analysis
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Examining Patent Subject Matter Eligibility Of AI Inventions
In light of U.S. Patent and Trademark Office data showing that patent applications for artificial intelligence inventions are likelier to get rejected based on patent-ineligible subject matter, inventors seeking protection should be aware of the difficulties and challenges pertaining to patent eligibility, say Georgios Effraimidis at NERA and Joel Lehrer at Goodwin.
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Series
Being An Opera Singer Made Me A Better Lawyer
My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.
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Amid SEC Rule Limbo, US Cos. Subject To ESG Regs In EU
Though the U.S. Securities and Exchange Commission is facing legal challenges to its climate-disclosure rulemaking, the implementation of the Corporate Sustainability Reporting Directive in the European Union will force U.S. companies to comply with exactly the kinds of ESG disclosures that are not yet mandated in the U.S., say attorneys at Squire Patton.
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Pros, Cons Of Disclosing Improper Employee Retention Credit
Employers considering the Internal Revenue Service’s second voluntary disclosure program, which allows companies to avoid penalties for erroneously claiming employee retention credits for the 2021 tax year by repaying the credits and naming the tax advisers who encouraged these abusive practices, should carefully weigh the program’s benefits against its potential drawbacks, say attorneys at Winston & Strawn.
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How Law Firms Can Avoid 'Collaboration Drag'
Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.
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Election Outlook: A Precedent Primer On Content Moderation
With the 2024 election season now in full swing, online platforms will face difficult and politically sensitive decisions about content moderation, but U.S. Supreme Court decisions from last term offer much-needed certainty about their rights, say Jonathan Blavin and Helen White at Munger Tolles.
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6 Considerations To Determine If A Cyber Incident Is Material
The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.
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How Anti-DEI Bill Could Affect Employers' Diversity Efforts
Sen. J.D. Vance's recently introduced Dismantle DEI Act would substantially limit employers’ ability to implement and promote workplace diversity, equity and inclusion, but there are still steps employers can take to support a diverse workforce, says Peter Ennis at Cozen O’Connor.
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Opinion
Litigation Funding Disclosure Key To Open, Impartial Process
Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.
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Series
After Chevron: What To Expect In Consumer Protection At FTC
Although the Federal Trade Commission's bread-and-butter consumer protection law enforcement actions are unlikely to be affected, the Loper Bright decision may curb the FTC's bolder interpretations of the statutes it enforces, says Mary Engle at BBB National Programs.
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Comparing 5 Administrators' Mass Arbitration Procedures
Attorneys at DLA Piper compare the rules for mass arbitrations at five different arbitration providers — Judicial Arbitration and Mediation Services, American Arbitration Association, National Arbitration and Mediation, FedArb and New Era ADR — including their triggers, claim screening procedures, how and when they assess fees, and more.
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Whistleblowers Must Note 5 Key Differences Of DOJ Program
The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.
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What NFL Draft Picks Have In Common With Lateral Law Hires
Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.
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Calif. Ruling Clarifying Paystub Compliance Is Win For Cos.
In rare good news for California employers, the state Supreme Court recently clarified that workers couldn’t win extra penalties in wage and hour cases by claiming their employer intentionally violated state paystub law if the employer believed it had complied in good faith, say Drei Munar and Kirk Hornbeck at Hunton.
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Considering Noncompete Strategies After Blocked FTC Ban
A Texas district court's recent decision in Ryan v. Federal Trade Commission to set aside the new FTC rule banning noncompetes does away with some immediate compliance obligations, but employers should still review strategies, attend to changes to state laws and monitor ongoing challenges, say attorneys at Baker McKenzie.