Corporate

  • December 06, 2024

    $29.75M Deal Proposed To End Del. Latch Inc. SPAC Suit

    Attorneys for investors who bought into Latch Inc.'s Tishman Speyer-led, $1.5 billion take-public deal only to see their shares nosedive have tentatively settled consolidated class damage claims for $29.75 million, according to a Delaware Court of Chancery filing.

  • December 06, 2024

    Ex-Conn. Utility Execs May Get Reprieve From 2nd Indictment

    Two former Connecticut utility company executives who are weeks away from beginning federal prison sentences entered pretrial diversion agreements with the government on Friday that would allow them to escape a second raft of charges alleging that they conspired to misuse public money.

  • December 06, 2024

    Atty Tells Jury She's 'Furious' Over Aircraft Co.'s Suit

    An attorney suing an aviation company she formerly represented and three Blank Rome LLP lawyers told a Pennsylvania federal jury on Friday that she was "furious" to learn that the company accused her of misusing confidential information after she left to pursue plaintiffs work.

  • December 06, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    The Boeing Co. saw its much sought after plea agreement pulled away by a federal judge in Texas, and amid the grief and shock at the slaying of United Healthcare's CEO, legal experts discussed how general counsel can step up in a crisis. These are some of the stories in corporate legal news you may have missed in the past week.

  • December 06, 2024

    Mandelbaum Barrett Beats DQ Bid Appeal In Pharmacy Fight

    Mandelbaum Barrett PC defeated a disqualification motion Friday in a pharmacy ownership dispute, with a New Jersey state appeals court ruling that a former Mandelbaum Barrett attorney's previous work for the pharmacies was not relevant to the current case.

  • December 06, 2024

    Senate OKs Bill To Ease SEC Reporting Regs On Rural Telcos

    The Senate has unanimously passed a bipartisan bill to expand access to broadband in rural areas by reducing the "red tape" on smaller broadband providers.

  • December 06, 2024

    Evenflo Nears Settlement In Booster Seat MDL

    Baby product maker Evenflo said Friday that it has reached an agreement in principle to settle multidistrict litigation alleging it made deceptive statements about the safety of its Big Kid booster seats.

  • December 06, 2024

    4 Big Developments In ERISA Cases From 2nd Half Of 2024

    The Sixth Circuit reopened a retirement plan mismanagement suit against Parker-Hannifin Corp. and revived a manufacturing company worker's disability benefits bid, while the nation's highest court declined to review a plan trustee's unsuccessful attempt to force an employee stock sale dispute into arbitration. Here, Law360 looks at four recent decisions in Employee Retirement Income Security Act cases that benefits attorneys should know.

  • December 06, 2024

    DC Circ. Won't Revisit Retroactive FARA Registration

    The D.C. Circuit rejected a bid asking the en banc court to reconsider a panel ruling that bars the federal government from suing to compel former foreign agents to retroactively register their onetime foreign influence.

  • December 06, 2024

    DC Circ. Upholds TikTok Sale-Or-Ban Law

    A D.C. Circuit panel on Friday upheld a federal law giving TikTok until January to cut ties with its Chinese parent company or face a ban in the U.S., ruling that the statute survives constitutional scrutiny.

  • December 05, 2024

    9th Circ. Open To Reviving Snap Stock Suit Over Privacy Tools

    A Ninth Circuit panel appeared open Thursday to reviving a proposed securities class action alleging Snap downplayed the impact Apple's privacy changes would have on ad revenues, causing the stock to eventually plunge, with two judges noting they must infer the allegations in the investors' favor at the pleading stage.

  • December 05, 2024

    Jane Street Ends Trade Secret Fight With Rival Investing Firm

    Jane Street Group LLC and Millennium Management LLC have agreed to put to rest their trade secrets dispute over a proprietary trading strategy, according to a joint stipulation of dismissal filed Thursday in New York federal court.

  • December 05, 2024

    Trump Taps Musk Ally David Sacks As 'AI & Crypto Czar'

    President-elect Donald Trump announced Thursday that he has selected David O. Sacks, a tech investor who worked alongside Elon Musk and entrepreneur Peter Thiel in the early days of PayPal, to be the newly created "White House AI & Crypto Czar."

  • December 05, 2024

    Internet Archive Won't Take E-Book Fair Use To Justices

    The Internet Archive on Wednesday said it will not ask the U.S. Supreme Court to weigh in on whether its practice of distributing copyrighted e-books for free without permission from some of the world's biggest publishers is excused by the Copyright Act's fair use doctrine.

  • December 05, 2024

    Software Co. Five9 Sued After Surprise Guidance Slash

    Cloud-based customer contact center Five9 Inc. and two of its executives face claims they misrepresented that the company was on track for healthy revenue growth, only to hurt investors by reversing course nine weeks later when they slashed Five9's financial guidance for the year.

  • December 05, 2024

    Apple To Appeal Epic's Atty-Client Privilege Challenge Win

    Apple and Epic Games told a California federal judge Thursday that they've agreed on a protocol for a special master to re-review 57,000 documents that Apple claims are attorney-client privileged in their antitrust fight, while Apple added that it plans to appeal his finding that its privilege assertions over a sample were overbroad.

  • December 05, 2024

    Investors Sue Pegasystems In Corporate Espionage Case

    Business software developer Pegasystems Inc. has been hit with allegations that it misled an asset management firm by concealing its use of illegal and unethical tactics to misappropriate competitor Appian Corp.'s trade secrets, which led to a since-overturned $2 billion Virginia state court judgment for unjust enrichment. 

  • December 05, 2024

    SolarEdge's CEO, CFO Can't Escape Securities Lawsuit

    A New York federal judge ruled Wednesday that a proposed securities class action accusing SolarEdge Technologies Inc. of misrepresenting the demand for its solar energy products in Europe will go on against two of the company's top executives, saying investors adequately pled the executives knowingly misrepresented distributors' inventory levels.

  • December 05, 2024

    Judge Recommends Axing Some Claims In X Severance Suit

    A Delaware federal judge on Thursday recommended pruning of a 14-count suit filed by six former Twitter employees accusing the company now known as X and Elon Musk of contract breaches and other claims in connection with Musk's takeover of the social media giant in 2022.

  • December 05, 2024

    SEC Says Binance's Platform Is 'Integral' To Securities Claims

    The U.S. Securities and Exchange Commission told a Washington, D.C., federal judge that crypto exchange Binance can't escape amended claims that it failed to register with the securities regulator because the platform is "integral" to crypto issuers' alleged promises to increase the value of their tokens.

  • December 05, 2024

    Kraft Heinz, Ex-Worker Settle 'Miami Vice' Costume Firing Suit

    The Kraft Heinz Co. has settled a free speech lawsuit by a terminated white manager and school board candidate accused of jeopardizing the company's reputation by wearing blackface before his employment during a Halloween attempt to look like the character Ricardo Tubbs from the television show "Miami Vice."

  • December 05, 2024

    Abbott Accused Of 'Last-Ditch Effort' To Halt Formula Suit

    Investors accusing Abbott Laboratories leaders of concealing known safety issues related to recalled infant formula urged an Illinois federal judge to reject the company's bid to stay the case because it belatedly formed a special litigation committee to investigate the allegations two years into the litigation.

  • December 05, 2024

    Tesla Can't 'Pretend' Dismissal Was Stay Order, 9th Circ. Says

    A Ninth Circuit panel on Thursday doubted Tesla's arguments that a California federal court had jurisdictional authority to enforce its arbitration win against an ex-Tesla engineer's defamation claims, with one judge noting that Tesla asked to dismiss the engineer's case and it can't now "pretend" the dismissal was a stay order.

  • December 05, 2024

    FTX Clawback Deal With Ex-Alameda Co-CEO Gets Court Nod

    A Delaware bankruptcy judge has approved a deal to settle clawback claims by FTX against former Alameda Research Ltd. executive John Samuel Trabucco, who agreed to hand over two San Francisco apartments purchased in 2021 for $8.7 million and a 53-foot yacht bought in 2022 for $2.5 million.

  • December 05, 2024

    Basketball Fan's Race Bias Suit Tossed Over Delays

    A Colorado federal judge on Wednesday dismissed without prejudice a basketball fan's lawsuit claiming employees of the Denver Nuggets racially profiled him during a game, finding it was the appropriate course after the man's lawyer repeatedly failed to follow through on the case.

Expert Analysis

  • How A Trump Win Might Affect The H-1B Program

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    A review of the Trump administration's attempted overhaul of the H-1B nonimmigrant visa program suggests policies Donald Trump might try to implement if he is reelected, and specific steps employers should consider to prepare for that possibility, says Eileen Lohmann at BAL.

  • Challenge To Ill. Card Fee Law Explores Compliance Hurdles

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    A recent federal lawsuit challenging an Illinois law that will soon forbid electronic payment networks from charging fees for processing the tax and tip portions of card transactions, fleshes out the glaring compliance challenges and exposure risks financial institutions must be ready to face next summer, says Martin Kiernan at Amundsen Davis.

  • Recent Securities Cases Highlight Risks In AI Disclosures

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    Increasing public disclosure about the use and risks of artificial intelligence, and related litigation asserting that such disclosures are false or misleading, suggest that issuers need to exercise great care with respect to how they describe the benefits of AI, say Richard Zelichov and Danny Tobey at DLA Piper.

  • Harris Unlikely To Shelve Biden Admin's Food Antitrust Stance

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    A look at Vice President Kamala Harris' past record, including her actions as California attorney general, shows why practitioners should prepare for continued aggressive antitrust enforcement, particularly in the food and grocery industries, if Harris wins the presidential election, says Steve Vieux at Bartko.

  • Opinion

    This Election, We Need To Talk About Court Process

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    In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.

  • Series

    Playing Diplomacy Makes Us Better Lawyers

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    Similar to the practice of law, the rules of Diplomacy — a strategic board game set in pre-World War I Europe — are neither concise nor without ambiguity, and weekly gameplay with our colleagues has revealed the game's practical applications to our work as attorneys, say Jason Osborn and Ben Bevilacqua at Winston & Strawn.

  • 5th Circ. Shows Admin Rules Can Survive Court Post-Chevron

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    The Fifth Circuit's textual analysis of the Fair Labor Standards Act, contributing to its recent affirming of the U.S. Department of Labor’s authority to set an overtime exemption salary threshold, suggests administrative laws can survive post-Chevron challenges, say Jessi Thaller-Moran and Erin Barker at Brooks Pierce.

  • Applying High Court's Domestic Corruption Rulings To FCPA

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    After the U.S. Supreme Court narrowed the domestic corruption statutes in three decisions over the past year and a half, it’s worth evaluating whether these rulings may have an impact on Foreign Corrupt Practices Act enforcement, and if attorneys can use the court’s reasoning in international bribery cases, says James Koukios at MoFo.

  • Antitrust In Retail: Why FTC Is Studying 'Surveillance Pricing'

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    The Federal Trade Commission's decision to study targeted "surveillance pricing" should provide greater clarity into the nature of the data aggregation industry, but also raises several issues, including whether these practices are in fact illegal under any established interpretations of U.S. antitrust law, say attorneys at Holland & Knight.

  • Mental Health First Aid: A Brief Primer For Attorneys

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    Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.

  • Licensing And Protections For Voice Actors In The Age Of AI

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    While two recently enacted California laws and other recent state and federal legislation largely focus on protecting actors and musicians from the unauthorized use of their digital likenesses by generative artificial intelligence systems, the lesser-known community of professional voice actors also stands to benefit, says attorney Scott Mortman.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q3

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    In the third quarter of the year, California continued to be at the forefront of banking regulation as it enacted legislation on unfair banking practices and junk fees, and the state Department of Financial Protection and Innovation notably initiated enforcement actions focused on crypto-assets and student loan debt relief, say Stuart Richter and Eric Hail at Katten.

  • John Deere Penalty Shows Importance Of M&A Due Diligence

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    The U.S. Securities and Exchange Commission's recent $10 million penalty against John Deere underscores the risks of not conducting robust preacquisition due diligence and not effectively integrating a new subsidiary into the existing compliance framework, say attorneys at Ropes & Gray.

  • Opinion

    FTC's Report Criticizing Drug Middlemen Is Flawed

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    The Federal Trade Commission's July report, which claims that pharmacy benefit managers are inflating drug costs, does not offer a credible analysis of PBMs, and its methodology lacks rigor, says Jay Ezrielev at Elevecon.

  • 2 High Court Securities Cases Could Clarify Pleading Rules

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    In granting certiorari in a pair of securities fraud cases against Facebook and Nvidia, respectively, the U.S. Supreme Court has signaled its intention to align interpretations of the heightened pleading standard under the Private Securities Litigation Reform Act amid its uneven application among the circuit courts, say attorneys at V&E.

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