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Corporate
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December 20, 2024
Banks, Not Credit Cos., Can Duck New Ill. Fee Law For Now
An Illinois federal judge ruled Friday that credit card companies like Visa and Mastercard must comply with Illinois' landmark law restricting certain credit card fees; however, she also held that national banks and federal savings associations aren't subject to the law, at least for now.
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December 20, 2024
TD Bank, Boeing And Medicare: Compliance Headlines In 2024
Corporate compliance lessons were never far from the headlines in 2024, as regulatory challenges and headaches facing industries ranging from healthcare to aerospace played front and center, including TD Bank's historic $3.1 billion money laundering settlement that federal prosecutors billed as one for the risk-management textbooks.
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December 20, 2024
Independent Health Inks $98M Deal For Medicare Overcharges
Independent Health Association Inc. has agreed to pay up to $98 million to resolve a decade-old False Claims Act whistleblower suit alleging it knowingly submitted invalid diagnosis codes for Medicare Advantage Plan enrollees to boost payments that the insurer received from Medicare, the U.S. Department of Justice announced Friday.
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December 20, 2024
A Lookback On 2024's Major Securities Litigation Moments
The private securities litigation bar experienced a busy 2024, with meaningful and significant rulings in almost all of the nation's leading courts, and corporations, investors, government agencies and executives fighting over pay packages, disclosures, class certifications and mergers.
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December 20, 2024
Employment Authority: How The Workplace Shifted In 2024
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on how key trends transformed the workplace in 2024, which states passed new wage and hour legislation over the past year that impacted child labor to gig work, and how President Joe Biden's legacy will be remembered through a series of pivotal National Labor Relations Board rulings.
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December 20, 2024
Real Estate Recap: Stats, Multifamily Tech, Pot Shop Pickle
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including big picture stats for commercial real estate in 2024, how one proptech company is leveraging resident data for multifamily profitability, and a conversation with a BigLaw leader about navigating New York's pot shop crackdown.
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December 20, 2024
The Top Cases Of 2024 In Texas: Year In Review
Texas closed out the year with blockbuster rulings on social media companies’ use of biometric data and the U.S. Securities and Exchange Commission’s expanded definition of a dealer. Here are the biggest decisions out of Texas that topped Law360’s radar this year.
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December 20, 2024
The Most Significant Trade Secrets Cases Of 2024
Insulet Corp. became the latest company to notch a colossal trade secrets award, and a new presidential administration has attorneys wondering what will become of the Federal Trade Commission's pending proposal to ban employee noncompete agreements. Here's a look at trade secrets cases that defined 2024 and what to expect from the FTC in the coming year.
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December 20, 2024
DC Circ. Says Toxic Subtances Rule Threatens Trade Secrets
A D.C. Circuit panel on Friday threw out a facet of new Toxic Substances Control Act regulations that the judges said could lead to the unwanted disclosure of chemical manufacturers' trade secrets.
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December 20, 2024
SEC Fines Entergy $12M Over Alleged Accounting Errors
The U.S. Securities and Exchange Commission on Friday announced a $12 million settlement with Entergy Corp. over claims that the company failed to properly account for what may have been hundreds of millions of dollars in unusable or surplus equipment.
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December 20, 2024
Utah Judge Pauses Challenge To Corporate Transparency Act
A Utah federal judge has stayed a case seeking to block the Corporate Transparency Act to see how the new administration of President-elect Donald Trump handles the law after a kindred case in Texas won a preliminary injunction on it.
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December 20, 2024
EU Lays Out Apple's Interoperability Requirements
The European Commission unveiled a host of proposed interoperability standards for Apple that would require the company to allow third-party devices to run background operations, automatically switch audio, send and receive files via AirDrop and much more with connected Apple products.
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December 20, 2024
Gunster $8.5M Data Breach Deal Needs More Info, Judge Says
A Florida federal judge this week denied preliminary approval of an $8.5 million settlement in a data breach class action against Gunster and demanded more information on payouts, the plaintiffs' standing in the case and a historical breakdown of settlement rates.
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December 20, 2024
Split Del. Jury Clears Qualcomm In Arm Ltd. Chip Fight
A federal jury in Delaware on Friday rejected semiconductor design and licensing giant Arm Ltd. Inc.'s claims that Qualcomm Inc. breached Arm's chip architecture licensing and trademark rights, but was declared hung on matching claims against Nuvia Inc., acquired by Qualcomm in 2021
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December 20, 2024
Veteran Littler Mendelson Policy Expert Dies At 76
Michael Lotito, a veteran management-side labor and employment attorney who most recently practiced at Littler Mendelson PC, died Thursday, the firm confirmed.
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December 20, 2024
TikTok Sales Reps Say OT Suit Deserves Collective Cert.
Several TikTok sales representatives said they shared the same job duties and that the social media company applied the same unlawful policy of misclassifying them as overtime-exempt, urging a California federal court to grant them collective certification.
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December 20, 2024
Chilean Phone Co. WOM Gets OK On $500M Takeover Terms
A Delaware bankruptcy judge on Friday signed off on the framework for Chilean mobile phone operator WOM SA's $500 million restructuring plan, finding the debtor had exercised sound business judgment in selecting the deal to reduce some $650 million in debt.
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December 20, 2024
CFPB Sues BofA, Wells Fargo, JPMorgan Over Zelle Fraud
The Consumer Financial Protection Bureau sued Bank of America, JPMorgan Chase and Wells Fargo on Friday, alleging their customers have lost more than $870 million through a "massive scale" of fraud on the payment network Zelle while the banks turned a blind eye.
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December 20, 2024
Watershed NCAA, UFC Settlements Highlight 2024's 2nd Half
The second half of 2024 saw the sunset of several yearslong lawsuits that will significantly impact the world of sports, including the settlement of the NCAA's name, image and likeness antitrust litigation and the closing of the UFC's legal battle with current and former fighters. Here, Law360 explores the top sports and betting moments from the second half of 2024.
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December 19, 2024
Google Health Tracking Plaintiffs Fight To Keep Suit Alive
A California federal judge who was asked by Google to toss a proposed class action alleging that the tech giant illicitly scoops up users' personal data from healthcare providers' websites indicated during a Thursday hearing that he might grant the request while adding that he still has "a lot more thinking to do."
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December 19, 2024
Bank Freeze Sought By Co. Alleging Fake Atty Stole $55M
Attorneys for a German company suing a California woman and JPMorgan Chase Bank, alleging that an employee was tricked into wiring nearly $55 million by a fraudster whose scam included posing as a Clifford Chance LLP partner, urged a California federal judge Thursday to freeze the bank accounts of the woman.
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December 19, 2024
X Corp. Fails To Toss Data Breach Suit
A California federal judge has refused to toss a twice-amended putative class action accusing X Corp. of failing to protect over 200 million users' personal information but tossed a breach of contract claim, saying users couldn't lean on the social media company's blog posts to allege X broke express security promises.
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December 19, 2024
Arm-Qualcomm Trademark, Breach Suit Goes To Jury In Del.
Jurors headed to deliberations late Thursday after nearly four days of trial in Delaware federal court on Softbank Group subsidiary Arm Ltd.'s claims that Qualcomm Inc. and Nuvia Inc. breached a protective contract for microprocessor core technology licensing agreements.
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December 19, 2024
$18M TransUnion Loss 'Riddled With Defects,' 6th Circ. Says
The Sixth Circuit said Wednesday that a jury's $18.3 million award in a dustup over intellectual property related to an online insurance quote marketplace was based on damages evidence that was sorely lacking, affirming that TransUnion is off the hook.
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December 19, 2024
Ex-AT&T Exec Gets New Bribery Trial Date After Jury Deadlock
The former head of AT&T's Illinois division, who is accused of bribing ex-Illinois House Speaker Michael Madigan, will be tried again in June after his case resulted in a hung jury earlier this year, a federal court judge said Thursday.
Expert Analysis
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Reviewing 2024's Crucial Patent Law Developments
As 2024 draws to a close, significant rulings and policies aimed at modernizing long-standing legal practices or addressing emerging challenges have reached patent law, says Michael Ellenberger at Rothwell Figg.
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How White Collar Enforcement May Shift In Trump's 2nd Term
After President-elect Donald Trump returns to the White House next month, the administration’s emphasis on immigration laws, drug offenses and violent crime will likely reduce the focus on white collar crime overall, but certain areas within the white collar world may see increased activity, say attorneys at Keker Van Nest.
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New Trump Admin May Bring Financial Oversight Turbulence
As President-elect Donald Trump prepares to begin his second term, his top financial market regulatory and securities law enforcement appointees, campaign promises, and regulatory preferences foretell a period of muddy regulatory waters, say attorneys at Kroll.
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The Justices' Securities Rulings, Dismissals That Defined '24
The U.S. Supreme Court's 2024 securities rulings led to increased success for defendants' price impact arguments, but the justices' decisions not to weigh in on important issues relating to the Private Securities Litigation Reform Act's pleading requirements may be just as significant, say attorneys at Skadden.
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2024 Election Results May Prove Fortuitous For Family Offices
Thanks to the decisive Republican victories in the 2024 elections, family offices have a unique opportunity for accelerated growth and influence, particularly through the benefits afforded by patient capital, says Edward Taibi at Olshan Frome.
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10 Noteworthy CFPB Developments From 2024
In a banner year for consumer finance regulation, the Consumer Financial Protection Bureau made significant strides in its efforts to rein in Big Tech and nonbank financial firms, including via rules regarding open banking, credit card late fees, and buy now, pay later products, say attorneys at Wiley.
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What To Expect From EEOC Next Year After An Active 2024
While highlights this year for the U.S. Equal Employment Opportunity Commission include its first-ever Pregnant Workers Fairness Act cases and comprehensive workplace harassment guidance, the question for 2025 is whether the commission will sustain its momentum or shift its focus in a new direction, says Shannon Kelly at GrayRobinson.
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Series
Fixing Up Cars Makes Me A Better Lawyer
From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.
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2024 Has Been A Momentous Year For ESG
Significant developments in the environmental, social and governance landscape this year include new legislation, evolving global frameworks, continued litigation and enforcement actions, and a U.S. Supreme Court decision that has already affected how lower courts have viewed some ESG challenges, say attorneys at Katten.
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2024's Most Notable FTC Actions Against Dark Patterns And AI
In 2024 the Federal Trade Commission ramped up enforcement actions related to dark patterns, loudly signaling its concern that advertisers will use AI to manipulate consumer habits and its intention to curb businesses' use and marketing of AI to prevent alleged consumer deception, say attorneys at Goodwin.
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Making The Pitch To Grow Your Company's Legal Team
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.
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The Story Of 2024's Biggest Bank Regs, And Their Fate In 2025
U.S. federal bank regulators were very active in 2024 with initiatives ranging from antitrust and capital to proposals regarding controlling shareholders and incentive-based compensation, but many regulations face an uncertain future under the new administration, say attorneys at Latham.
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Musk Pay Fight Shows Investor Approval Isn't Universal Cure
The Delaware Court of Chancery's recent denial of a motion revising its prior rescission of Elon Musk's nearly $56 billion compensation package is a reminder of the heightened standard corporate boards must meet in conflicted controller transactions and that stockholder approval doesn't automatically cure fiduciary wrongdoing, say attorneys at A&O Shearman.
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Considering European-Style Lockboxes For US M&A In 2025
The lockbox mechanism, commonly used in Europe, offers an attractive alternative to the postclosing price adjustments that dominate U.S. merger and acquisition transactions in private equity, particularly with the market's demand for transparency likely to remain steadfast under Trump, says Laurent Campo at Potomac Law.
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Compliance Lessons From Raytheon's FCPA Settlement
A recent Foreign Corrupt Practices Act action involving aerospace and defense company Raytheon underscores the importance of risk management related to retaining and overseeing third parties — especially in higher-risk jurisdictions — and the promotion of a companywide culture of compliance, say attorneys at Debevoise.