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Corporate
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July 11, 2024
Signify, Merger Partner Clash In Chancery Over $50M Earnout
An attorney for former Caravan Health Inc. stockholder representatives told a Delaware vice chancellor on Thursday that acquirer Signify Health Inc. sabotaged Caravan's business in order to scuttle an obligation to add as much as $50 million in performance-based "earnouts" to the $250 million merger price.
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July 11, 2024
Oil Giants Defeat City Of Baltimore's Climate Change Claims
A Maryland judge has dismissed Baltimore's suit seeking climate change-related damages from oil companies including Chevron, Exxon and BP, ruling that the city's claims stem from a global phenomenon and thus are "beyond the limits of Maryland state law."
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July 11, 2024
Security Manager Gave $85M Biz Book To Rival Co., Suit Says
A former Connecticut regional manager spent days downloading "extensive" data before leaving a security firm for a direct competitor, then gave his new employer millions of dollars' worth of stolen secrets to snipe clients and bolster his chances for earning a lucrative bonus, according to a new suit filed in federal court.
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July 11, 2024
Platinum Equity Taking Heroux-Devtek Private In $990M Deal
Platinum Equity Advisors has agreed to purchase Heroux-Devtek in a take-private deal that values the Quebec-based manufacturer of aerospace products at CA$1.35 billion ($990.1 million), Heroux-Devtek said in a statement Thursday.
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July 11, 2024
Kioti Info Must Be Public In $7.7M Fraud Suit, Court Told
A financial services business is pushing the North Carolina Business Court to reject an attempt by the parent company of Kioti to seal away financial records, arguing that the company hasn't shown a need for secrecy that overcomes the court's preference to keep information public.
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July 11, 2024
Chancery Orders Invictus Fund Sides To Provide Case Update
Pointing to hints of clarity in a distressed credit and special-situations fund's murky, 9-month-old battle for documents and cash held by its general partner and investment manager, a Delaware vice chancellor on Thursday ordered the two sides to produce a case update by Tuesday.
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July 11, 2024
Atty's Suit Against Aircraft Cos., Blank Rome Attys Survives
A federal judge ruled in favor of a lawyer who alleges that aircraft companies and attorneys with Blank Rome LLP brought a baseless lawsuit against her in retaliation for switching from corporate defense to the plaintiffs bar, denying a motion to dismiss and allowing her lawsuit to continue.
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July 11, 2024
Chancery Fast-Tracks Blue Cross Data Co. Suit, Denies TRO
An independent licensee of Blue Cross Blue Shield Association that accused a customer of sharing confidential data with industry competitor Cigna Corp. got its Delaware Chancery Court lawsuit fast-tracked Thursday but failed to get immediate injunctive relief because the harms it alleged were too "speculative."
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July 11, 2024
Hershey, Walgreens Sued For 'One Chip Challenge' Death
The Hershey Co. and its businesses that created and negligently marketed the "One Chip Challenge" to eat an ultra-spicy tortilla chip are responsible for the wrongful death of a Massachusetts 14-year-old, whose death coincided with the product being pulled from the shelves, according to a lawsuit filed Thursday by the boy's mother.
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July 11, 2024
Top Atty At Army Center Of Military History Joins Shook Hardy
The former chief counsel for the U.S. Army Center of Military History has joined Shook Hardy & Bacon LLP as co-chair of the firm's growing art law practice, the firm announced Thursday.
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July 11, 2024
Talc Law Firms Beat J&J Subpoenas Seeking Funding Info
The Beasley Allen Law Firm, another plaintiffs law firm and a litigation funder defeated subpoenas from Johnson & Johnson in talc litigation, with a special master reasoning that the broad swath of discovery permitted in federal courts still has limits.
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July 11, 2024
Nelson Mullins Brings On BCLP Corporate Pro In Atlanta
Nelson Mullins Riley & Scarborough LLP has named a former Bryan Cave Leighton Paisner LLP partner in Atlanta as leader of its new advertising, marketing, sponsorship and promotions practice group, bringing on an attorney who previously held in-house counsel roles at The Coca-Cola Co., Blue Apron and Chobani.
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July 11, 2024
Foley & Lardner Adds 6-Atty Corporate Team From K&L Gates
Foley & Lardner LLP announced Thursday that it has boosted its corporate and healthcare offerings with three partners and three associates from K&L Gates LLP who will practice from the firm's existing locations in Dallas and Miami and a new shop in Raleigh, North Carolina.
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July 11, 2024
DOL Wants ERISA Investment Advice Regs Kept Afloat
The U.S. Department of Labor is urging a Texas federal court to reject a bid from insurance industry groups to block its new regulations that broaden who qualifies as a fiduciary under federal benefits law, saying the groups are "grasping for a reason" to evade the law.
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July 11, 2024
Coca-Cola Faces Revised Suit Over PFAS In Juice Products
A New York man has hit Coca-Cola and its Simply Orange Juice Co. subsidiary with a revised proposed class action alleging they deceptively market juices as pure, healthy and all-natural when they actually contain harmful, man-made forever chemicals.
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July 11, 2024
Ex-BP Legal Head Joins HF Sinclair As General Counsel
HF Sinclair Corp. this week named the former head of legal at BP PLC its new general counsel, about four months after the energy company's most recent top law department leader resigned to pursue another opportunity.
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July 11, 2024
Low-Speed EV Maker Sues Treasury Over Blocked Tax Credits
The U.S. Department of the Treasury violated the Administrative Procedure Act when it passed final regulations excluding low-speed vehicles from qualifying for clean vehicle tax credits, a maker of low-speed electric cars told a D.C. federal court.
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July 11, 2024
House Vote Fails To Quash Veto Of SEC Crypto Accounting Bill
The U.S. House on Thursday failed to override President Joe Biden's veto of a bill that sought to roll back controversial crypto accounting guidance from the U.S. Securities and Exchange Commission after Democrats urged members to stick by the president.
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July 11, 2024
EPA Grants Petition On Plastic Container PFAS
The U.S. Environmental Protection Agency on Wednesday granted a petition asking it to address several so-called forever chemicals formed during the fluorination of plastic containers for a variety of household and industrial uses.
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July 11, 2024
Patent Cases To Watch In The Second Half Of 2024
A U.S. Supreme Court case over the reach of the judicially created double patenting doctrine and a dispute over which patents branded drugmakers can list in a federal database are among the cases attorneys will have their eyes on for the rest of the year.
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July 11, 2024
Meet Del. Federal Court's Newest Magistrate Judge
The newest magistrate judge in Delaware's federal district court is a former law clerk to another judge in the courthouse, and also previously served as an intellectual property attorney at Morris Nichols Arsht & Tunnell LLP.
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July 10, 2024
Nasdaq Says It's Immune To SPAC's 'Racial Animus' Claims
The Nasdaq Stock Market has asked a Brooklyn federal judge to toss claims it "arbitrarily and capriciously" derailed a minority-led special purpose acquisition company's plans, arguing in a Wednesday filing that it's immune to such claims as a self-regulatory organization.
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July 10, 2024
BitMEX Cops To Flouting Anti-Money Laundering Rules
Offshore crypto derivatives exchange BitMEX pled guilty in New York federal court on Wednesday to a charge alleging it violated the Bank Secrecy Act by knowingly failing to maintain adequate anti-money laundering and customer identification programs, according to the U.S. Attorney's Office for the Southern District of New York.
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July 10, 2024
Pledging 'Accountability,' Biden's FDIC Pick Faces Senate Test
President Joe Biden's nominee to lead the Federal Deposit Insurance Corp. plans to stress her regulatory credentials and determination to fix the agency's troubled work culture when she goes before a U.S. Senate panel on Thursday for a confirmation hearing.
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July 10, 2024
Rite Aid, DOJ Craft $410M Settlement Of Opioid Sale Claims
Rite Aid agreed to a nearly $410 million settlement with the U.S. Department of Justice, the bulk of which will be an unsecured claim in the company's Chapter 11 case, that will put to bed allegations the pharmacy chain dispensed opioids illegally, the DOJ announced Wednesday.
Expert Analysis
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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.
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Opinion
NEPA Final Rule Unlikely To Speed Clean Energy Projects
A recent final rule from the White House Council on Environmental Quality purports to streamline federal environmental reviews to accelerate the construction of renewable energy infrastructure — but it also expands consideration of climate change and environmental justice, creating vast new opportunities for litigation and delay, says Thomas Prevas at Saul Ewing.
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Opinion
USPTO's Proposed Disclaimer Rule Would Harm Inventors
The U.S. Patent and Trademark Office’s recently proposed rule on terminal disclaimers will make the patent system less available to inventors and will unfairly favor defendants in litigation, say Stephen Schreiner at Carmichael IP and Sarah Tsou at Omni Bridgeway.
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Influencer Considerations As FINRA Initiates Crackdown
To avert risks when evaluating influencer and referral programs, firms should assess the Financial Industry Regulatory Authority's recent settlements involving the supervision of social media tastemakers, as well as recent FINRA guidance in this area, say attorneys at Troutman Pepper.