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Corporate
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April 02, 2025
NY Judge Sanctions Attys For Adding Futile Claims
Lawyers representing an education resources supplier that sued its business partner over allegations of price-fixing and bid-rigging within the New York City school system have been sanctioned for repeatedly attempting to add claims to unauthorized amended complaints in what a federal judge said violated rules against bad faith or futile motions.
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April 02, 2025
Davis Polk, Skadden Lead Stablecoin Issuer Circle's IPO Filing
Venture-backed stablecoin issuer Circle Internet Group Inc. is moving forward with its long-awaited initial public offering amid expectations of favorable regulatory policies for crypto firms, represented by Davis Polk & Wardwell LLP and underwriters' counsel Skadden Arps Slate Meagher & Flom LLP.
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April 02, 2025
Davis Wright Welcomes Longtime Jones Day Finance Atty
Davis Wright Tremaine LLP announced Tuesday that it has hired a longtime Jones Day attorney focused on advising investment management industry participants, praising his decades of experience helping clients navigate U.S. federal securities laws.
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April 02, 2025
Feds Drop FCPA Case Against Ex-Cognizant Execs
The federal government on Wednesday moved to dismiss its Foreign Corrupt Practices Act case against two former Cognizant Technology Solutions Corp. executives, ending a long-running case that had been stalled by President Donald Trump's executive order curtailing bribery prosecutions and another now-rescinded presidential decree targeting Paul Weiss Rifkind Wharton & Garrison LLP, which had been representing one of the defendants.
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April 02, 2025
American Airlines Taps Latham Atty As New Legal Chief
American Airlines announced Wednesday that it has chosen a Latham & Watkins LLP partner to serve as the company's chief legal officer, effective May 5.
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April 02, 2025
23 Firms Remain GCs' Top Picks Despite Referral Drop
Even as corporate legal departments become more selective in recommending outside counsel to their peers, 23 law firms have managed to earn top marks for building trust and relationship management, according to a report released Wednesday by BTI Consulting Group.
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April 02, 2025
Haynes Boone Taps Seward & Kissel Atty To Lead Derivatives
Haynes Boone has hired another former Seward & Kissel LLP partner to co-chair the firm's derivatives practice group.
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April 02, 2025
National Highway Agency's Ex-Top Counsel Joins Sidley In DC
Sidley Austin LLP has hired the former chief counsel of the agency responsible for oversight of the safety of America's roadways, who joins the firm to co-lead its global automotive and mobility industry group, one of several roles he'll have in its D.C. office, the firm recently announced.
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April 02, 2025
Justices Broaden RICO Reach To Personal Injuries
The U.S. Supreme Court on Wednesday expanded the type of civil actions that can be brought under a federal racketeering statute, asserting that claims stemming from personal injuries are redressable if they can be shown to have caused economic harm.
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April 01, 2025
Tesla Asks Del. Justices To Undo $176M Atty Fee 'Windfall'
Tesla urged the Delaware Supreme Court on Tuesday to slash a $176 million attorney fee award granted as part of an excessive director compensation suit settlement, saying it amounts to a "windfall in a case that settled well before trial and after three years of only tepid litigation."
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April 01, 2025
Ex-Microsoft Manager Says He Was Fired For Whistleblowing
A former project manager for Microsoft says he was fired after flagging compliance issues and misconduct, including being forced to leak sensitive data from client Freddie Mac's workforce platform and being asked to falsify a report to cover up fraud, according to a suit filed Monday in Texas federal court.
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April 01, 2025
Javice Must Don Ankle Bracelet For Now, Despite Pilates Gig
Frank founder Charlie Javice must wear a location-monitoring ankle bracelet, pending further court review, as she awaits sentencing, following her conviction at trial on fraud and conspiracy charges for purportedly conning JPMorgan Chase & Co. into buying her now-defunct educational startup, in spite of her claims that it will leave her unable to work in her new gig as a fitness instructor.
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April 01, 2025
Ark. Law Limiting Kids' Social Media Use Struck Down
Arkansas' law limiting minors' social media access is a "content-based restriction on speech" that violates platform users' First Amendment rights and is unconstitutionally vague, a federal judge ruled Monday, striking down the law that requires parental permission and age checks to access certain online platforms.
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April 01, 2025
Saudi Co. Wants 11th Circ. To Revive Oil Suit Against Siemens
A Saudi Arabian company on Tuesday urged the Eleventh Circuit to reverse the dismissal of its business interference complaint against Siemens Energy Inc., arguing a lower Florida federal court should allow the lawsuit to proceed and resolve the alleged factual claims.
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April 01, 2025
Pork Price-Fixing Fight Over Sales Data Swap Heads To Trial
A Minnesota federal court mostly denied Monday a slew of summary judgment motions from Tyson and other pork producers seeking wins in an antitrust suit alleging they conspired with data firm Agri Stats to fix pork prices and reduce supply, teeing up the high-stakes multidistrict litigation for a June trial.
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April 01, 2025
Nelson Mullins-, Latham-Guided SmartStop Prices $810M IPO
SmartStop Self Storage REIT Inc., a real estate investment trust managing U.S. and Canadian properties, on Tuesday priced an $810 million initial public offering within its marketed range, represented by Nelson Mullins Riley & Scarborough LLP and underwriters' counsel Latham & Watkins LLP.
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April 01, 2025
Meta Can't Narrow Health Privacy Suit Scope, Consumers Say
Two consumers who claim that Meta secretly collected their health information data through an "invisible tracker" on third-party websites told a California federal judge Tuesday that the social media giant is improperly trying to narrow their proposed class action to cover just one third-party health website.
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April 01, 2025
Takeda Antitrust Trial Over Actos Generics Set For July
A New York federal court refused a bid from Takeda Pharmaceuticals Co. to escape a long-running case accusing it of unlawfully delaying generic versions of its diabetes treatment Actos and scheduled a trial to start in July.
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April 01, 2025
Acting USPTO Leader Says New Policies Will Bolster Patents
Acting U.S. Patent and Trademark Office Director Coke Morgan Stewart said at a conference Tuesday that new policies including having her take an active role in determining whether patent challenges should be denied are part of an effort to "reinvigorate our IP system."
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April 01, 2025
9th Circ. Judge Unsure Oppenheimer Liable For Broker Ponzi
A Ninth Circuit judge on Tuesday questioned if Oppenheimer & Co. Inc. was responsible for a Ponzi scheme orchestrated by one of its brokers as a side hustle, telling investors he was struggling to see how they were direct customers of the investment firm.
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April 01, 2025
Heritage Coal OK To Use Lender Cash Amid Settlement Effort
A Delaware bankruptcy judge on Tuesday approved Heritage Coal owner KTRV's bid to continue using cash to support its operations as the company works to strike a settlement with secured lender Bedrock Industries.
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April 01, 2025
Plaintiff Can't Sue TransUnion After High Court Ruling
An Illinois appellate panel affirmed the dismissal of a Fair Credit Reporting Act complaint filed by a man who was dismissed from federal class action litigation against TransUnion after a U.S. Supreme Court landmark decision, rejecting the plaintiff's argument that he pursued the claims in a timely manner.
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April 01, 2025
House GOP Calls For Further Crackdown On SEC Proxy Rules
Republican lawmakers are calling on acting U.S. Securities and Exchange Commission Chair Mark Uyeda to put in place regulations that would eliminate the ability of shareholders to bring social and political issues to a vote, just weeks after the commission made it easier for publicly traded companies to exclude certain shareholder proposals.
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April 01, 2025
Republicans Float Wish List Of Biden Financial Rule Rollbacks
Republican lawmakers on the House Financial Services Committee sent a bevy of letters to financial regulators on Tuesday calling for the withdrawal or modification of rules and guidance issued under the Biden administration addressing topics like risk management, mergers, banking capital requirements and crypto business reporting.
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April 01, 2025
Ex-Exec Accuses Deutsche Bank Of Audit Lies, Retaliation
A former high-ranking official with Deutsche Bank has sued the bank for whistleblower retaliation and libel over what he said was a false human resources complaint concocted to fire him for cause after he flagged the bank's alleged lies to federal regulators about operational control issues.
Expert Analysis
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8 Lessons Yellow Corp. Layoffs Can Teach Distressed Cos.
A Delaware bankruptcy court’s recent decision, examining trucking company Yellow Corp.’s abrupt termination of roughly 25,500 employees, offers financially distressed businesses a road map for navigating layoffs under the Worker Adjustment and Retraining Notification Act, say attorneys at King & Spalding.
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Recent Suits Show Antitrust Agencies' Focus On HSR Review
The U.S. Department of Justice's suit this month against KKR for inaccurate and incomplete premerger filings, along with other recent cases, highlights the agency's increasing scrutiny of Hart-Scott-Rodino Act compliance for private equity firms, say attorneys at Willkie.
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The 7th Circ.'s Top 10 Civil Opinions Of 2024
Attorneys at Jenner & Block examine the most significant decisions issued by the Seventh Circuit in 2024, and explain how they may affect issues related to mass arbitration, consumer fraud, class certification and more.
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Private-Bidding Compliance Lessons From Siemens Plea Deal
Siemens Energy’s recent wire fraud conspiracy guilty plea shows that U.S. prosecutors are willing and able to police the private, domestic bidding market to protect the integrity of the competitive marketplace, and companies will need a robust compliance program to mitigate these risks, say attorneys at Foley Hoag.
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Kansas Bank's Suit Could Upend FDIC Enforcement Authority
Should CBW Bank's federal lawsuit in Kansas challenging the Federal Deposit Insurance Corp.'s enforcement authority gain traction with a post-Chevron U.S. Supreme Court, it could have profound implications for the FDIC and the banking industry at large, says Jack Harrington at Bradley Arant.
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Royal Canin Ruling Won't Transform Removal Jurisdiction
The U.S. Supreme Court's ruling in Royal Canin USA v. Wullschleger means that federal district courts must now remand whenever an amended complaint excises grounds for federal jurisdiction — but given existing litigation strategy and case law trends, this may ultimately preserve, rather than alter, the status quo, say attorneys at Norton Rose.
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End-Of-Year FCPA Enforcement Surge Holds Clues For 2025
The last three months of 2024 saw more Foreign Corrupt Practices Act enforcement actions than any quarter in the previous four years, providing lessons for companies — even as a new administration raises doubts about whether this momentum will continue, say attorneys at Norton Rose.
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What's Next For Accounting Enforcement After SEC's Big 2024
The U.S. Securities and Exchange Commission under the Trump administration will likely continue to focus enforcement efforts on many of the same accounting and auditing issues that it pursued over the past year — but other areas, such as ESG, internal controls and cryptocurrency cases, may fall out of focus, say attorneys at Debevoise.
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Mentorship Resolutions For The New Year
Attorneys tend to focus on personal achievements or career milestones when they set yearly goals, but one important area often gets overlooked in this process — mentoring relationships, which are some of the most effective tools for professional growth, say Kelly Galligan at Rutan & Tucker and Andra Greene at Phillips ADR.
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PE Strategies To Manage Adjacent Portfolio Firm Conflicts
A variety of tools can mitigate potential risk for a private equity director sitting on the board of directors of multiple companies, including the disclosure of potential conflicts in fundraising documents to help mitigate risk under the securities laws, says Michael Kendall at Goodwin.
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UPS Penalty Demonstrates Goodwill Impairment Red Flags
The U.S. Securities and Exchange Commission's recent $45 million penalty against UPS for withholding reports of goodwill impairment should warn investors to watch for the telltale signs of companies inflating their worth by delaying tests that would reveal similar declines in the value of intangible assets, say attorneys at Labaton Keller.
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Series
Coaching Little League Makes Me A Better Lawyer
While coaching poorly played Little League Baseball early in the morning doesn't sound like a good time, I love it — and the experience has taught me valuable lessons about imperfection, compassion and acceptance that have helped me grow as a person and as a lawyer, says Alex Barnett at DiCello Levitt.
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7 Employment Contracts Issues Facing DOL Scrutiny
A growing trend of U.S. Department of Labor enforcement against employment practices that limit workers' rights and avoid legal responsibility shines a light on seven unique contractual provisions that violate federal labor laws, and face agressive litigation from the labor solicitor, says Thomas Starks at Freeman Mathis.
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How Fintechs Can Respond To New CFPB Supervisory Rule
Even though a new Consumer Financial Protection Bureau rule pulling large payment apps into supervision faces an uncertain fate in the new administration, providers should still examine the rule's definitions and prepare for increased compliance costs and more consumer-friendly practices, say attorneys at DLA Piper.
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Courts Must Stick To The Science On Digital Addiction Claims
A number of pending personal injury and product liability lawsuits allege that plaintiffs have developed behavioral addictions to the use of social media and video games — but this is not yet recognized by relevant authorities as an addiction, so courts must carefully scrutinize such claims, say attorneys at DLA Piper.