Corporate

  • July 17, 2024

    FINRA Hires JPMorgan GC For Senior Enforcement Role

    The Financial Industry Regulatory Authority has hired two new senior vice presidents of enforcement, one of whom is returning to the agency after serving as general counsel of JPMorgan Chase's wealth management line, the agency announced Wednesday.

  • July 17, 2024

    Chamber Of Commerce Urges Justices To Limit RICO's Reach

    Business groups including the U.S. Chamber of Commerce are urging the U.S. Supreme Court not to extend the scope of the Racketeer Influenced and Corrupt Organizations Act to include personal injury-related claims in civil suits, in a case over alleged false advertisement of hemp-derived CBD products.

  • July 17, 2024

    Ex-Goldman Sachs Analyst Gets Over 2 Years For Insider Tips

    A Manhattan federal judge hit a former Goldman Sachs analyst with a 28-month prison sentence Wednesday for tipping his stepbrother and a friend to market-moving information, saying the Long Island native wanted to be "the big man" among his peers.

  • July 17, 2024

    SPAC Investor Sues Battery Co. In Del. Over Held-Back Shares

    A Florida-based hedge fund that invested in a blank-check company that took battery company Solidion Technology Inc. public has sued for breach of contract in Delaware's Court of Chancery, alleging the company is refusing to issue more than 9.54 million shares of stock that are due under pre-merger agreements.

  • July 17, 2024

    Baker McKenzie Adds EY Partner To Mexico City Office

    Baker McKenzie has appointed a new partner from EY Mexico to its North American tax practice group in Mexico City.

  • July 17, 2024

    Iger, Willow Bay Ink $250M Deal For Angel City Football Club

    The Angel City Football Club has agreed to sell a controlling stake to Bob Iger, CEO of the Walt Disney Co., and his wife, Willow Bay, dean of the USC Annenberg School for Communication and Journalism, at an enterprise value of $250 million, the team said Wednesday. 

  • July 17, 2024

    TikTok Loses 1st Challenge Against EU Big Tech Law

    TikTok lost its bid to escape European Union digital market rules on Wednesday, when the bloc's General Court found the social media platform's global market value shows the company has significant potential to make money from European users.

  • July 16, 2024

    Musk Says X, SpaceX Moving To Texas Over Calif. Gender Law

    Elon Musk took to X Tuesday to announce he will be moving the headquarters of the social media company and his astronautics company, SpaceX, out of California to Texas, after Golden State Gov. Gavin Newsom signed a bill that bars policies mandating that teachers notify parents about students' gender identity.

  • July 16, 2024

    Gilead Asks Calif. Supreme Court To Ax 'Disastrous' Decision

    Gilead Sciences on Monday urged the California Supreme Court to overturn an appellate panel's decision that the company can't ditch claims it held back a safer HIV drug to maximize profits on an older medication, saying that holding manufacturers liable for non-defective products would "yield disastrous policy consequences."

  • July 16, 2024

    Green Dot Brass Hid Declining Biz And Fed Action, Suit Says

    The top brass at prepaid debit card company Green Dot Corp. has been hit with a derivative shareholder suit, alleging they concealed the company's faltering core business and a proposed consent order from the Federal Reserve Board over internal controls while board members sold millions of dollars worth of shares at inflated prices.

  • July 16, 2024

    Apple's Slowed IPhone Derivative Deal OK'd After Tweaks

    A California federal judge said Tuesday she would approve Apple's non-monetary settlement to resolve a derivative-shareholder suit over claims it secretly slowed iPhones and award counsel $6 million in attorney fees and expenses, after she rejected an earlier version of the deal because of the proposal's overbroad release of claims.

  • July 16, 2024

    Tesla Swaps Cravath Out, WilmerHale In For Antitrust Defense

    WilmerHale has taken over from Cravath Swaine & Moore LLP as counsel for Tesla in a proposed class action in California federal court alleging the company runs an unlawful monopoly on parts for its electric vehicles.

  • July 16, 2024

    Rocket Cos. Investors Drop CEO Retweet Claims From Suit

    Investors in mortgage lender Rocket Companies have dropped certain proposed class action claims against the company's CEO, telling a Michigan federal judge that they would no longer accuse the executive of securities fraud over a March 2021 retweet.

  • July 16, 2024

    Tesla Says Chinese Co. Sells 'Dangerous' Charging Adapter

    Tesla said on Monday that a Chinese company sells a "dangerous" charging adapter that lets owners of non-Tesla electric vehicles charge at its network, saying in a suit filed in California federal court that the device could injure consumers and damage the power infrastructure.

  • July 16, 2024

    Kaspersky To End US Operations After Commerce Dept.'s Ban

    A Russian cybersecurity and antivirus provider will begin closing U.S. operations and laying off workers Sunday, after the U.S. Department of Commerce banned it from selling its products in the U.S. or to U.S. citizens.

  • July 16, 2024

    ​​​​​​​Apollo's $1.85B Mining Co. Deal Sparks Del. Suit For Docs

    An investor sued a mining and logistics company in Delaware's Court of Chancery seeking documents regarding the firm's $1.85 billion go-private deal with affiliates of asset management giant Apollo, approved Tuesday by the mineral producer's stockholders, asserting that there are credible concerns over pre-transaction communications between its executives and Apollo about their jobs.

  • July 16, 2024

    USPTO Provides Guidance On AI And Patent Eligibility

    The U.S. Patent and Trademark Office on Tuesday unveiled guidance for when inventions involving artificial intelligence are eligible for patents, saying the guidelines are aimed at "providing further clarity and consistency" on the issue.

  • July 16, 2024

    Ga. Panel Limits Insurer Pool's Collections For Workers' Comp

    The Georgia Court of Appeals on Tuesday limited the power of a state-sponsored insurance pool to recoup its expenses when filling in for an insolvent insurer, ruling that companies can't be forced to accept liability for an injured worker when they were placed into the position by a staffing agency.

  • July 16, 2024

    Chancery Orders Illumina Docs Released In Grail Merger Fight

    Benefit fund shareholders of biotech giant Illumina Inc. won a Delaware Court of Chancery order on Tuesday for a rare, limited release of legal advice documents on Illumina's merger agreement with cancer-testing firm Grail Inc., a deal that has cost the company billions in fines and lost value.

  • July 16, 2024

    Judges Press Amazon On Its Duty To Guard Against Suicide

    Washington appellate judges on Tuesday challenged Amazon's argument that the e-commerce giant should be free from liability for selling sodium nitrite that buyers used to kill themselves, with one judge asking what other use a "small bottle" of nearly pure poison would have.

  • July 16, 2024

    Ex-Goldman Banker Denies Bribe Charges After Extradition

    A former Goldman Sachs banker pled not guilty Tuesday before a Brooklyn federal magistrate judge to charges that he bribed Ghanaian officials, after losing an extradition battle in British courts.

  • July 16, 2024

    JB Hunt To Pay $4.2M To End Wash. Pay Range Suit

    J.B. Hunt Transport will fork over $4.2 million to a class of 2,200 job applicants to settle a lawsuit accusing the freight company of failing to include salary ranges in job postings and violating Washington state law, according to a court order tentatively approving the deal.

  • July 16, 2024

    Chancery OKs $42.5M Brookfield-GGP Settlement, $11.4M Fee

    Shareholders of mall operator GGP Inc. who sued in 2018 to stop its $9.25 billion acquisition by Brookfield Property Partners LP got the Chancery Court's nod Tuesday to settle the litigation for $42.5 million, including an $11.4 million fee for the plaintiffs' counsel and incentive awards for three shareholder plaintiffs.

  • July 16, 2024

    Delta's $16M Pay Stub Deal Scores Initial OK

    A California federal judge signed off on a $16 million deal Tuesday settling a suit accusing Delta Air Lines of wage statement violations under the California Labor Code and Private Attorneys General Act, finding the deal fair and reasonable.

  • July 16, 2024

    SiriusXM Must Face Suit Over $150M In Unpaid Royalties In NY

    A Virginia federal judge has agreed to let Sirius XM move nonprofit royalty collector SoundExchange's suit to New York federal court, but refused to let it entirely escape claims that it owes more than $150 million in unpaid royalties.

Expert Analysis

  • New Crypto Reporting Will Require Rigorous Recordkeeping

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    The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service's efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen and Max Angel at Holland & Knight.

  • What Transactional Attys Must Know About Texas Biz Courts

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    As Texas prepares to launch its new business courts, transactional attorneys — especially those involved in commercial, securities and internal governance matters — should keep several issues in mind when considering use of the state's business court system to facilitate deals and settle disputes, say attorneys at Katten.

  • A Comparison Of FDIC, OCC Proposed Merger Approaches

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    Max Bonici and Connor Webb at Venable take a closer look at the Federal Deposit Insurance Corp.'s and Office of the Comptroller of the Currency's respective bank merger proposals and highlight certain common themes and important differences, in light of regulators continually rethinking their approaches to bank mergers.

  • Series

    Being An EMT Makes Me A Better Lawyer

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    While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.

  • Behind Court Challenges To The FTC's Final Noncompete Rule

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    The Federal Trade Commission's recent final rule banning noncompetes may not go into effect any time soon amid a couple of Texas federal court challenges seeking to bar the rule's implementation, which will likely see appeals all the way to the U.S. Supreme Court, says Michael Elkins at MLE Law.

  • Corporate Insurance Considerations For Trafficking Claims

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    With the surge in litigation over liability under the Trafficking Victims Protection Reauthorization Act, corporate risk managers and in-house counsel need to ensure that appropriate insurance coverage is in place to provide for defense and indemnity against this liability, says Micah Skidmore at Haynes Boone.

  • Tips For Keeping Trade Secrets In The Vault

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    Key practices aimed at maintaining confidentiality can help companies establish trade secret status as the Federal Trade Commission's ban on noncompetes makes it prudent to explore other security measures, says John Baranello at Moses & Singer.

  • 5 Lessons From Ex-Vitol Trader's FCPA Conviction

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    The recent Foreign Corrupt Practices Act and money laundering conviction of former Vitol oil trader Javier Aguilar in a New York federal court provides defense takeaways on issues ranging from the definition of “domestic concern” to jury instruction strategy, says attorney Andrew Feldman.

  • SEC Amendments May Launch New Execution Disclosure Era

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    The U.S. Securities and Exchange Commission's recently adopted amendments to Rule 605 of Regulation NMS for executions on covered orders in national market system stocks modernize and enhance execution quality reporting, but serious guidance is still needed to make the reports useful for the public investor, say attorneys at Sidley.

  • Questions Remain After Mass. Adverse Possession Case

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    A recent Massachusetts Land Court decision, concerning an adverse possession claim on a family company-owned property, leaves open questions about potential applicability to closely held corporations and other ownership types going forward, says Brad Hickey at DarrowEverett.

  • Mitigating Incarceration's Impacts On Foreign Nationals

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    Sentencing arguments that highlighted the disparate impact incarceration would have on a British national recently sentenced for insider training by a New York district court, when compared to similarly situated U.S. citizens, provide an example of the advocacy needed to avoid or mitigate problems unique to noncitizen defendants, say attorneys at Lankler Siffert.

  • Navigating Title VII Compliance And Litigation Post-Muldrow

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    The U.S. Supreme Court’s recent ruling in Muldrow v. St. Louis has broadened the scope of Title VII litigation, meaning employers must reassess their practices to ensure compliance across jurisdictions and conduct more detailed factual analyses to defend against claims effectively, say Robert Pepple and Christopher Stevens at Nixon Peabody.

  • Tiny Tweaks To Bank Merger Forms May Have Big Impact

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    The impact of proposed changes to the Federal Reserve Board's and Federal Deposit Insurance Corp.'s bank merger review forms would be significant, resulting in hundreds of additional burden hours for bank merger applicants and signaling a further shift by the prudential bank regulators toward more rigorous scrutiny of mergers, say attorneys at Debevoise.

  • How CFPB Credit Card Rules Slot Into Broader Considerations

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    Swirling legal challenges against the Consumer Financial Protection Bureau's recent rulemaking concerning credit card late fees raise questions about how regulated entities should respond to the bureau's rules — and how quickly they should act, say Caitlin Mandel and Elizabeth Ireland at Winston & Strawn.

  • 3 Employer Lessons From NLRB's Complaint Against SpaceX

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    Severance agreements traditionally have included nondisparagement and nondisclosure provisions as a matter of course — but a recent National Labor Relations Board complaint against SpaceX underscores the ongoing efforts to narrow severance agreements at the state and federal levels, say attorneys at Williams & Connolly.

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