Corporate

  • June 27, 2024

    DOL Says It Put Salary Levels In OT Carveout Since 1938

    The U.S. Department of Labor told a Texas federal court it included a minimum salary aspect in executive, administrative or professional rules since the Fair Labor Standards Act's inception, arguing a marketing firm doesn't have the basis to halt a final overtime rule.

  • June 27, 2024

    AG Says Trump Recusal Bid Relies On 'Distortion Of Facts'

    New York's attorney general says Donald Trump is relying on a "distortion of facts" in seeking to oust the judge who ordered the former president to pay $465 million in penalties in his civil fraud case.

  • June 27, 2024

    Coinbase Says SEC, FDIC 'Stonewalled' Crypto Info Requests

    Crypto exchange Coinbase filed suits against both the U.S. Securities and Exchange Commission and the Federal Deposit Insurance Corporation on Thursday after it said the agencies "stonewalled" information requests for documents that could shed light on agencies' internal views on digital assets.

  • June 27, 2024

    DOL Benefits Chief Defends Fiduciary Rule Before GOP Panel

    The head of the U.S. Department of Labor's employee benefits agency on Thursday defended recently finalized policy expanding the definition of a fiduciary under the Employee Retirement Income Security Act, drawing criticism from a Republican-controlled panel of House lawmakers at an oversight hearing.

  • June 27, 2024

    AbbVie Buys Bowel Disease Biotech Celsius For $250M

    Chicago-based pharmaceutical company AbbVie said Thursday it has acquired Celsius Therapeutics Inc., a privately held clinical-stage biotechnology company developing therapies for patients with inflammatory disease, for $250 million.

  • June 27, 2024

    NFL Hit With $4.7B Verdict In Sunday Ticket Antitrust Trial

    A California federal jury handed the National Football League and its teams a stunning courtroom defeat Thursday by awarding two classes of DirecTV Sunday Ticket subscribers about $4.7 billion in total damages in an antitrust trial over claims they illegally pumped up the price of the sports broadcast package.

  • June 27, 2024

    Poor Governance Tanked Genomic Co.'s Stock, Investor Says

    Poor corporate governance led to Sema4 Holdings Corp., now named GeneDx Holdings Corp., nixing hundreds of jobs and failing the Nasdaq requirement for common stock to close above $1 per share for 30 consecutive trading days, a derivative shareholder suit filed Tuesday against the genomics company's top brass alleges.

  • June 27, 2024

    Feds Back Debevoise Bid To Avoid Cognizant Trial Testimony

    The U.S. Department of Justice would like a New Jersey federal court to throw out a subpoena compelling trial testimony from a Debevoise & Plimpton LLP partner regarding an investigation into an alleged bribe the government believes two former Cognizant Technology Solutions executives supplied to an Indian company.

  • June 27, 2024

    Bradley Arant Adds Former Wells Fargo Associate GC In DC

    Bradley Arant Boult Cummings LLP has hired a former associate general counsel for both Wells Fargo and Bank of America, who previously served as a U.S. attorney in the Central District of California and most recently as a Nelson Mullins Riley & Scarborough LLP partner.

  • June 27, 2024

    9th Circ. Revives US Citizen's Hiring Bias Suit Against Meta

    A split Ninth Circuit panel on Thursday reinstated a proposed class action alleging Facebook parent company Meta unlawfully favors visa holders when hiring, ruling that a Reconstruction-era civil rights law bars employers from discriminating against U.S. citizens.

  • June 27, 2024

    Vista Delays Czech Deal Vote In Light Of $3.2B MNC Bid

    Vista Outdoor Inc. said Thursday it will postpone a special meeting of stockholders to vote on the sale of part of its business to a Czech defense group in light of a new $3.2 billion buyout offer from Dallas-area private equity shop MNC Capital Partners LP. 

  • June 27, 2024

    Supreme Court Freezes EPA's 'Good Neighbor' Rule

    The U.S. Supreme Court stayed the U.S. Environmental Protection Agency's plan to reduce cross-state pollution Thursday, finding several states and industry groups challenging it in court will likely prevail on the merits.

  • June 27, 2024

    Justices Limit SEC's Use Of In-House Courts

    The U.S. Supreme Court on Thursday curtailed the U.S. Securities and Exchange Commission's use of its in-house court system, saying the accused have a right to a jury trial when financial penalties are on the table.

  • June 27, 2024

    Justices Nix 3rd-Party Liability Releases In Purdue Ch. 11 Plan

    The U.S. Supreme Court shot down the validity of nonconsensual third-party releases in an opinion issued Thursday in the case of bankrupt drugmaker Purdue Pharma LP, potentially exposing the Sackler family members who own the company to personal liability for the company's role in the opioid crisis.

  • June 26, 2024

    BlackRock Can't Escape Saba Capital's Voting Bylaws Suit

    A New York federal judge Tuesday refused to toss Saba Capital Management's lawsuit claiming a BlackRock Inc. environmental, social and corporate governance trust has illegal shareholder voting bylaws, but also refused to block BlackRock from applying the bylaws at issue to the current election.

  • June 26, 2024

    5th Circ. Says SEC Must Reconsider Axing Proxy Regulations

    The Fifth Circuit on Wednesday vacated the U.S. Securities and Exchange Commission's decision to rescind a portion of Trump-era rules requiring proxy advisory firms to notify companies about their advice to investors, ruling that the agency didn't adequately explain the abrupt change.

  • June 26, 2024

    SEC Crypto Stance May Shift With Election, Rulemaking Suits

    The U.S. Securities and Exchange Commission is likely to shift its cryptocurrency posture to some degree if a new chair is installed after the coming presidential election, but firms not content to wait for a change in the guard can consider challenging the agency's rulemaking process, experts said Wednesday.

  • June 26, 2024

    Ex-Outcome CEO Gets 7½ Years For Fraud Conviction

    Former Outcome Health CEO Rishi Shah was sentenced to 7½ years in prison Wednesday for engaging in a massive fraud through which he grew the health advertising company by lying to investors, lenders and customers about its value and capabilities.

  • June 26, 2024

    NFL Sunday Ticket Trial Goes To Jury With $21B At Stake

    Counsel for the NFL and DirecTV Sunday Ticket subscribers suing the league for billions of dollars made their closing arguments Wednesday in a California federal jury trial, with the customers' attorney saying the NFL didn't play fair and violated antitrust laws, while the league's lawyer said no conspiracy or illegal monopoly exists.

  • June 26, 2024

    Conn. Zantac Ruling To Include Sanofi As Settlement Looms

    A Connecticut state judge will include Sanofi-Aventis US LLC and a related corporate entity in a forthcoming decision on whether Zantac makers must face novel innovator liability claims in the Constitution State, the judge revealed after the pharmaceutical giant suggested a ruling would help finalize a nascent settlement.

  • June 26, 2024

    BofA COVID Benefit Card Suit Trimmed After Prior Order Axed

    A California federal judge has trimmed a suit brought against Bank of America NA by a proposed class of unemployment and disability benefits card recipients while also agreeing with them that a federal magistrate judge erred in holding that the bank's top brass lacked "uniquely relevant information" concerning discovery in the suit.

  • June 26, 2024

    Conn. Trader's Brother Cops Plea In $30M Brazilian Oil Plot

    A Connecticut man has pled guilty to helping to bribe officials at Brazil's state-owned oil company, Petróleo Brasileiro SA, also known as Petrobras, allegedly to help his commodities trader brother earn more than $30 million in ill-gotten profits from deals with the oil giant, according to federal court documents.

  • June 26, 2024

    Justices Leave Blurry Line In Place On Misinformation Fight

    The U.S. Supreme Court's decision Wednesday to reverse a Fifth Circuit order prohibiting the Biden administration from joining with social media platforms to fight misinformation leaves an important First Amendment question unanswered and left Missouri's attorney general promising a continuing fight against what he called a "censorship regime."

  • June 26, 2024

    Justices Chide 5th Circ. In Biden Social Media Case

    The Fifth Circuit relied on "clearly erroneous" facts and an overgeneralized view of standing when it ordered the Biden administration to stop working with social media platforms to combat COVID-19 and election misinformation, the U.S. Supreme Court ruled Wednesday as it threw out a challenge to the government's actions.

  • June 26, 2024

    SEC Fines Ex-Tech Co. Controller In Insider Trading Matter

    The U.S. Securities and Exchange Commission announced that an electronic security solutions company vice president and controller will pay over $435,000 to settle claims that he sold shares of the company based on financial results that were not publicly available at the time.

Expert Analysis

  • Perspectives

    Criminal Defendants Should Have Access To Foreign Evidence

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    A New Jersey federal court recently ordered prosecutors to obtain evidence from India on behalf of the former Cognizant Technology executives they’re prosecuting — a precedent that other courts should follow to make cross-border evidentiary requests more fair and efficient, say Kaylana Mueller-Hsia and Rebecca Wexler at UC Berkeley School of Law.

  • McKesson May Change How AKS-Based FCA Claims Are Pled

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    The Second Circuit’s analysis in U.S. v. McKesson, an Anti-Kickback Statute-based False Claims Act case, provides guidance for both relators and defendants parsing scienter-related allegations, say Li Yu at Dicello Levitt, Ellen London at London & Stout, and Erica Hitchings at Whistleblower Law.

  • 5 Employer Actions Now Risky After Justices' Title VII Ruling

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    Last week in Muldrow v. St. Louis, the U.S. Supreme Court ruled that harm didn't have to be significant to be considered discriminatory under Title VII of the Civil Rights Act, making five common employer actions vulnerable to litigation, say Kellee Kruse and Briana Scholar at The Employment Law Group.

  • Chancery's Carvana Suit Toss Shows Special Committee Value

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    The Delaware Chancery Court’s recent dismissal of a stockholder complaint against Carvana illustrates how special litigation committees can be a powerful tool for boards to regain control after litigation alleging a breach of fiduciary duty, say attorneys at Morgan Lewis.

  • EPA Chemical Safety Rule Raises Questions About Authority

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    Stakeholders should consider the practical and economic costs of the U.S. Environmental Protection Agency's recently finalized rule imposing novel board reporting regulations for certain chemical plants and refineries, which signals that the agency may seek a role in regulating corporate governance, say attorneys at Sidley.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

  • Deciding What Comes At The End Of WTO's Digital Tariff Ban

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    Companies that feel empowered by the World Trade Organization’s recent two-year extension of the ban on e-commerce tariffs should pay attention to current negotiations over what comes after the moratorium expires, as these agreements will define standards in international e-commerce for years to come, say Jan Walter, Hannes Sigurgeirsson and Kulsum Gulamhusein at Akin Gump.

  • Considering CGL Defense For Social Media Addiction Claims

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    A recent lawsuit filed in California state court against Meta seeks damages from technology companies for the costs of treating children allegedly suffering from social media addiction, but the prospects of defense coverage under commercial general liability insurance policies for a potential new wave of claims look promising, say Craig Hirsch and Tae Andrews at Pasich.

  • FTC Noncompete Ban Signals Rising Labor Focus In Antitrust

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    The Federal Trade Commission’s approval this week of a prohibition on noncompete agreements continues antitrust enforcers’ increasing focus on labor, meaning companies must keep employee issues top of mind both in the ordinary course of business and when pursuing transactions, say attorneys at Skadden.

  • Breaking Down EEOC's Final Rule To Implement The PWFA

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    Attorneys at Littler highlight some of the key provisions of the U.S. Equal Employment Opportunity Commission's final rule and interpretive guidance implementing the Pregnant Workers Fairness Act, which is expected to be effective June 18, and departures from the proposed rule issued in August 2023.

  • 4 Ways To Refresh Your Law Firm's Marketing Strategy

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    With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.

  • Tips For Balanced Board Oversight After A Cyberincident

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    The U.S. Securities and Exchange Commission's cybersecurity disclosure rules, as well as recent regulatory enforcement actions bringing board governance under scrutiny, continue to push boards toward active engagement in relation to their cyber-oversight role, despite it being unclear what a board's level of involvement should be, say attorneys at Alston & Bird.

  • Breaking Down DOJ's Individual Self-Disclosure Pilot Program

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    The U.S. Department of Justice’s recently announced pilot program aims to incentivize individuals to voluntarily self-disclose corporate misconduct they were personally involved in, complementing a new whistleblower pilot program for individuals not involved in misconduct as well as the government's broader corporate enforcement approach, say attorneys at Paul Weiss.

  • What Law Firms Should Know Amid Rise In DQ Motions

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    As disqualification motions proliferate, law firms need to be aware of the types of conflicts that most often lead to disqualification, the types of attorneys who may be affected and how to reduce their exposure to these motions, says Matthew Henderson at Hinshaw.

  • Reverse Veil-Piercing Ruling Will Help Judgment Creditors

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    A New York federal court’s recent decision in Citibank v. Aralpa Holdings, finding two corporate entities liable for a judgment issued against a Mexican businessman, shows the value of reverse veil piercing as a remedy for judgment creditors to go after sophisticated debtors who squirrel away assets, says Gabe Bluestone at Omni Bridgeway.

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