Corporate

  • December 09, 2024

    Judge Eyes Far Less Trial Time In Meta Case Than FTC Wants

    The Federal Trade Commission likely has to cram much more trial in much less time than it had planned after a D.C. federal judge suggested Monday that the agency's social media monopolization case against Meta Platforms Inc. can't go much past the first week of June 2025.

  • December 09, 2024

    EV Carmaker Lucid Wants To Shed More Of Inflated Biz Suit

    Electric carmaker Lucid Group has asked a California federal judge to toss most of the latest version of a proposed investor class action alleging its production forecasts were misleading, arguing that parts of the suit that remained intact after a recent dismissal order involved statements taken out of context.

  • December 09, 2024

    Amazon Says FTC Lacks Authority To Bring Antitrust Case

    Amazon has told a Washington federal court that the Federal Trade Commission is overstepping its authority by bringing its antitrust case directly in court without pursuing an in-house case targeting the e-commerce giant's treatment of sellers on its platform.

  • December 09, 2024

    US Air Withdraws Fight For $139M In Costs After Sabre Deal

    US Airways is dropping its demand for $139 million in attorney fees and costs after settling the issue with flight booking giant Sabre, a development poised to conclude the long-running New York federal court case accusing Sabre of monopolizing ticket distribution systems.

  • December 09, 2024

    BNSF Asks 9th Circ. To Upend Tribe's $400M Trespass Win

    BNSF Railway Co. has argued the Ninth Circuit should reverse a lower court's finding that the company owes a Washington tribe nearly $400 million for years of illegally running oil cars across tribal territory, saying the "massive penalty" is excessive because it strips away lawfully earned profits.

  • December 09, 2024

    2nd Circ. Compares Trader Joe's Execs' COVID Trips For Bias

    The way that Trader Joe's treated a similarly situated male employee is critical to the success of a sex discrimination lawsuit brought by a female ex-vice president who was fired after taking a vacation in the early days of the COVID-19 pandemic, judges of the Second Circuit suggested Monday.

  • December 09, 2024

    Ill. Congresswoman Denies Undue Influence From Madigan

    U.S. Rep. Nikki Budzinski was called to the witness stand Monday in the racketeering trial of former Illinois House Speaker Michael Madigan, where she testified that while she received multiple job recommendations from Madigan as a former senior aide to Illinois Gov. J.B. Pritzker, those candidates were only hired if they were qualified.

  • December 09, 2024

    SEC's Trading And Markets Director Zhu To Leave Agency

    Haoxiang Zhu is stepping down as head of the U.S. Securities and Exchange Commission's Division of Trading and Markets, the agency announced Monday, leaving the group that oversees orderliness of U.S. markets as leadership continues to change at regulatory bodies following President-elect Donald Trump's election victory.

  • December 09, 2024

    TikTok Seeks Halt On Sale-Or-Ban Law For High Court Appeal

    TikTok Inc. and its users are pressing the D.C. Circuit to put on hold the implementation of a law that is set to bar the platform from the U.S. market next month while they appeal a ruling backing the measure to the U.S. Supreme Court. 

  • December 09, 2024

    Pullman & Comley Blames Tech CEO's Statements For Firing 

    The ousted leader of WorldQuant Predictive Technologies LLC lost $6 million in company stock because he was legitimately fired for lying during a company probe into a lead salesperson's termination and not because of an alleged legal ethics gaffe, Connecticut law firm Pullman & Comley told a judge on Monday.

  • December 09, 2024

    Famous Steakhouse Chain's Ex-GC Gets Go-Ahead For Bias Suit

    The ex-general counsel of iconic steakhouse chain The Palm Restaurant can move ahead with a discrimination lawsuit claiming she was ousted after a 2020 bankruptcy sale, a New York federal court ruled Monday.

  • December 09, 2024

    Anti-China Bias Tainted ADI Trade Secrets Case, 1st Circ. Told

    A former Analog Devices Inc. microchip engineer convicted of pilfering valuable design schematics to launch a competing business has told the First Circuit the government singled him out for prosecution due to his Chinese ethnicity and investigators' hopes he would turn out to be a foreign spy.

  • December 09, 2024

    Reckitt Investors To Test Class-Action Rules In Opioid Case

    The Court of Appeal will consider on Tuesday whether shareholders in Reckitt Benckiser and drug company Indivior can pursue litigation linked to America's opioid crisis as a "representative claim" that is similar to a U.S.-style class action.

  • December 09, 2024

    Justices Won't Review Massive Class In Fringe Benefits Fight

    The U.S. Supreme Court refused Monday to hear a challenge to a 290,000-worker class in a suit alleging excessive health and retirement plan fees, despite an argument from benefits plan managers that the Fifth Circuit used the wrong standard to greenlight the massive suit.

  • December 06, 2024

    CFPB Loses Bid To Unfreeze Credit Card Late Fee Rule

    A Texas federal judge Friday refused to lift a preliminary injunction blocking the Consumer Financial Protection Bureau's $8 credit card late fee rule from taking effect, ruling that the U.S. Chamber of Commerce and other trade groups are likely to succeed in their challenge to the rule.

  • December 06, 2024

    Allianz Exec Avoids Prison For $7B Investor Fraud

    A New York federal judge on Friday declined to sentence a former portfolio manager for Allianz SE's U.S. unit to any time in prison for lying to investors about the riskiness of a group of private investment funds that lost over $7 billion when the COVID-19 pandemic hit.

  • December 06, 2024

    Billionaires Show New Interest In Texas' Intermediate Courts

    Billionaire-backed funding in Texas helped push a wave of Republican judges who swept races for intermediate appellate courts across the state, representing a new level of corporate spending in judicial races often marked by underfunded campaigns and low voter awareness.

  • December 06, 2024

    Chinese Magnet Co. CEO Latest Charged In DOD Supply Scam

    Federal prosecutors on Friday unsealed the latest indictment in an allegedly sprawling conspiracy involving Quadrant Magnetics LLC and its employees, charging Quadrant's CEO with conspiring to export sensitive U.S. defense data to China while illegally selling U.S. defense companies Chinese-made Quadrant magnets.

  • December 06, 2024

    Judge Denies Publix Bid To Appeal Opioid Coverage Ruling

    A Florida federal judge on Friday rejected Publix's request for a judgment that would have allowed it to immediately appeal a decision that said seven of its insurance policies didn't provide coverage for opioid lawsuits the grocery chain is facing.

  • December 06, 2024

    How Paul Atkins' Last SEC Term Might Shape Agency's Future

    President-elect Donald Trump's choice to lead the U.S. Securities and Exchange Commission next year is no stranger to the agency, and Paul Atkins' past speeches, statements and actions as a commissioner may offer a road map for how he would lead the agency in areas such as private funds, shareholder activism and multibillion-dollar enforcement sweeps.

  • December 06, 2024

    Google Must Face Trimmed BIPA Suit Over IBM Dataset

    A California federal judge on Thursday permitted Illinois residents to proceed with a pared-down version of their proposed class action accusing Google of violating biometric privacy laws with facial data collected by IBM, ruling they've adequately alleged a violation of the Illinois Biometric Privacy Act.

  • December 06, 2024

    High Court To Weigh $47M TM Award Liability For Non-Parties

    A trademark case before the U.S. Supreme Court Wednesday will delve into whether corporate affiliates of a real estate development company should be liable for an infringement judgment of nearly $47 million, even though they were not named defendants in the litigation.

  • December 06, 2024

    Boeing Shareholder Attys Intervene In Parallel Chancery Suit

    Attorneys for two Boeing Co. stockholders pursuing derivative claims in Virginia federal court secured approval on Friday to intervene in a later filed case in Delaware's Court of Chancery, citing concerns that a "dilatory" approach by the Delaware camp could jeopardize both suits.

  • December 06, 2024

    Barclays Investors Get Initial OK For $19M Overissuance Deal

    A New York federal judge Friday granted the first green light to a $19.5 million settlement for a class of investors who bought Barclays PLC securities and then claimed the banking giant misled them about its internal controls before selling more than $17.6 billion in securities over its maximum registered amount.

  • December 06, 2024

    Merrill Lynch Can't Beat Stock Loan Class Cert. Bid

    A New York federal judge on Friday overruled objections from Bank of America unit Merrill Lynch to certify a class of investors, with a slightly extended class period, in a suit alleging the financial institution colluded with other major banks to avoid modernizing the stock loan market.

Expert Analysis

  • $200M RTX Deal Underscores Need For M&A Due Diligence

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    RTX's settlement with regulators for violating defense export regulations offers valuable compliance lessons, showcasing the perils of insufficient due diligence during mergers and acquisitions transactions along with the need to ensure remediation measures are fully implemented following noncompliance, say Thad McBride and Faith Dibble at Bass Berry.

  • 3 Coverage Tips As 2nd Circ. 'Swipes Left' On Tinder Claim

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    The Second Circuit's recent opinion in Match Group v. Beazley Underwriting, overturning Tinder's victory on its insurer's motion to dismiss a coverage action, reinforces three best practices policyholders purchasing claims-made coverage should adhere to in order to avoid late-notice defenses, say Lynda Bennett and Alexander Corson at Lowenstein Sandler.

  • What PCOAB's Broadened Liability Rule Means For Auditors

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    The U.S. Securities and Exchange Commission’s recent vote agreeing to lower the Public Company Accounting Oversight Board's liability standard, allowing the board to charge individual auditors whose mere negligence leads firms into PCOAB violations, may erode inspection cooperation, shrink the talent pool and have anticompetitive outcomes, say attorneys at BakerHostetler.

  • Series

    Round-Canopy Parachuting Makes Me A Better Lawyer

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    Similar to the practice of law, jumping from an in-flight airplane with nothing but training and a few yards of parachute silk is a demanding and stressful endeavor, and the experience has bolstered my legal practice by enhancing my focus, teamwork skills and sense of perspective, says Thomas Salerno at Stinson.

  • Dealmaker Lessons From CFIUS' New Enforcement Webpage

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    The Committee on Foreign Investment in the United States’ recently launched webpage, which details the actions — and inactions — that led to enforcement activity, provides important insights for dealmakers about filing requirements, mitigation commitments and the cost of noncompliance, say attorneys at Dechert.

  • Boeing Ruling Is A Cautionary Tale For Trade Secret Litigants

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    A Washington federal court’s recent ruling canceling a $72 million jury award against Boeing because Zunum Aero had failed to properly identify its trade secrets highlights the value of an early statement of alleged secrets, amended through discovery and used as a framework at trial, says Matthew D'Amore at Cornell.

  • What To Expect From Calif. Bill Regulating PE In Healthcare

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    A California bill currently awaiting Gov. Gavin Newsom's approval, intended to increase oversight over private equity and hedge fund investments in healthcare, is emblematic of recent increased scrutiny of investments in the space, and may affect transactions and operations in California in a number of ways, say attorneys at Ropes & Gray.

  • 7 Takeaways For Companies After Justices' Bribery Ruling

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    The U.S. Supreme Court’s Snyder v. U.S. decision this summer, holding that a federal law does not criminalize after-the-fact gratuities made to public officials, raises some key considerations for companies that engage with state, local and tribal governments, say attorneys at BakerHostetler.

  • Why Now Is The Time For Law Firms To Hire Lateral Partners

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    Partner and associate mobility data from the second quarter of this year suggest that there's never been a better time in recent years for law firms to hire lateral candidates, particularly experienced partners — though this necessitates an understanding of potential red flags, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.

  • Series

    After Chevron: Courts Will Still Defer To Feds On Nat'l Security

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    Agencies with trade responsibilities may be less affected by Chevron’s demise because of the special deference courts have shown when hearing international trade cases involving national security, foreign policy or the president’s constitutional authority to direct such matters, say attorneys at Venable.

  • Reassessing Lease Provisions To Account For ESG Initiatives

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    As companies seek to build ESG considerations into their businesses, it's crucial to understand how such initiatives can quickly become significant enough to compel reassessment of lease agreement provisions, and how best to modify leases accordingly, say Julian Freeman and Gabe Pitassi at Cox Castle.

  • Considering Possible PR Risks Of Certain Legal Tactics

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    Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.

  • What To Know About Insurance Coverage For Antitrust Risks

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    With all the regulatory activity surrounding antitrust and unfair competition claims, as highlighted by last month's D.C. federal court decision that Google is a monopolist, businesses must not only ensure compliance, but also understand their potential insurance coverage when such claims arise, says Micah Skidmore at Haynes Boone.

  • Integrating ESG Into Risk Management Programs

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    Amid increasing regulations and reporting requirements for corporate sustainability in the European Union and the U.S., companies might consider how to incorporate environmental, social and governance factors into more formalized risk management, say directors at Alvarez & Marsal.

  • Exploring Practical Employer Alternatives To Noncompetes

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    With the Federal Trade Commission likely to appeal a federal court’s recent rejection of its noncompete ban, and more states limiting the enforceability of these agreements, employers should consider back-to-basics methods for protecting their business interests and safeguarding sensitive information, says Brendan Horgan at FordHarrison.

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