Corporate

  • November 20, 2024

    Lululemon Execs Hit With Derivative Suit Over DEI Program

    Lululemon leadership was hit with a shareholder derivative suit Wednesday claiming they made false statements related to the company's new "Inclusion, Diversity, Equity and Action" program that artificially boosted the company's stock price and also concealed problems with the company's inventory allocation.

  • November 20, 2024

    9th Circ. Judge Asks How Loper Bright Impacts EPA Fine Case

    A Ninth Circuit judge wondered on Wednesday what weight the court should give the Environmental Protection Agency's view in a chemical wholesaler's appeal of an $850,000 fine in light of the U.S. Supreme Court's Loper Bright decision, suggesting the justices might next end agency deference in regulatory interpretation.

  • November 20, 2024

    Ex-Pharma CEO Demands Legal Fees For SEC Probe

    Cancer treatment development company Eagle Pharmaceuticals Inc.'s founder and ex-CEO told Delaware's Chancery Court Wednesday that he is entitled to legal fees he says the company owes him in connection with a U.S. Securities and Exchange Commission probe into the company's accounting practices, saying he continues to incur fees in addition to the $875,000 he has already requested.

  • November 20, 2024

    5 Charged For 'Scattered Spider' Phishing Hacks, Crypto Theft

    California federal prosecutors unveiled a criminal case Wednesday accusing five alleged members of the "Scattered Spider" cybercrime group of using a phishing scheme to access the confidential data of media and technology companies and steal $11 million worth of cryptocurrency from digital wallets.

  • November 20, 2024

    Wash. Judge Questions Startup's Amazon Antitrust Claims

    A Washington federal judge on Wednesday suggested that antitrust claims might not survive in a startup's complaint against Amazon Web Services involving a dispute over higher-speed internet connections in the Middle East that allowed the startup to cater to its customer Epic Games.

  • November 20, 2024

    'Fat Leonard' To Appeal 15-Year Sentence Over Navy Bribery

    A Malaysian defense contractor and ex-fugitive who pled guilty nearly 10 years ago to a bribery scheme that authorities said cost the U.S. Navy over $20 million has indicated in California federal court that he will appeal his 15-year sentence to the Ninth Circuit.

  • November 20, 2024

    USPTO Unveils Patent Fee Hikes Set To Take Effect In January

    The U.S. Patent and Trademark Office on Wednesday released a final rule that will increase many patent-related fees on Jan. 19, recalibrating some proposed hikes that had drawn criticism from attorneys and industry groups while leaving others intact.

  • November 20, 2024

    Bumble Brass Fumbled App Revamps, Investor Suit Says

    Current and former brass of dating app Bumble's parent company face shareholder derivative claims that they projected overconfidence about revamping its app, then saw trading prices crater when Bumble lowered its 2024 growth projections amid the tinkering.

  • November 20, 2024

    SkyWest Airlines Hit With $2M Verdict In EEOC Harassment Case

    A Texas jury found in favor of the Equal Employment Opportunity Commission on Wednesday in a suit that saw SkyWest Airlines accused of sitting idle while an employee experienced persistent sexual harassment, awarding over $2 million in punitive damages for the workplace misconduct in federal court.

  • November 20, 2024

    Nike Accused Of 'Smear Campaign' Over $60M Trademark Suit

    A Los Angeles-based company that made customized sneakers for celebrities and athletes hit back Tuesday at Nike's $60 million trademark suit, saying that despite the companies' previous collaborations, Nike is now making knowing false claims in a "smear campaign" to crush its business.

  • November 20, 2024

    Xerox Faces Investor Suit Over 'Reinvention' Strategy

    Business technology company Xerox Inc. has been hit with a proposed shareholder class action in New York federal court alleging the company's stockholders were harmed by a "reinvention" strategy it introduced in 2023 that yielded lower sales and revenue.

  • November 20, 2024

    Advance Notice Bylaw Measures Fuel Chancery Battle

    Arguing that recent corporate advance notice bylaws have resulted in "real, actual harm" to stockholders of Owings Corning and The AES Corp., attorneys for shareholders of both urged a Delaware vice chancellor on Wednesday to reject calls to dismiss challenges to the measures.

  • November 20, 2024

    Scotts Miracle-Gro Leaders Sued Over Post-Pandemic Glut

    Executives, directors and an heir to the CEO of consumer gardening giant The Scotts Miracle-Gro Co. face a shareholder derivative action alleging the company flooded its sales channels with post-pandemic excess inventory as it struggled to avoid defaulting on its debt.

  • November 20, 2024

    Burger King Franchisee Escapes BIPA Coverage Counterclaim

    An Illinois federal judge has axed an AIG subsidiary's counterclaim in a Burger King franchisee's lawsuit seeking coverage for an underlying case accusing it of violating Illinois' biometric privacy law, concluding that the counterclaim is redundant and "adds nothing that will not be decided through resolution of the motions for summary judgment."

  • November 20, 2024

    PBMs Sue To Block FTC's In-House Insulin Pricing Case

    Caremark Rx, Express Scripts and OptumRx have lodged a constitutional challenge of the Federal Trade Commission's in-house case accusing the pharmacy benefits managers of artificially inflating insulin prices through unfair rebate schemes.

  • November 20, 2024

    Hinshaw Brings On Ex-JPMorgan Counsel From Ballard Spahr

    A Ballard Spahr LLP attorney and former in-house counsel for JPMorgan Chase & Co. has joined Hinshaw & Culbertson LLP as a partner in the firm's consumer financial services practice group in New York, where he will advise banks, lenders and fintechs on state and federal regulations, compliance matters and litigation.

  • November 20, 2024

    Archegos Founder Gets 18 Years For Massive Market Fraud

    Bill Hwang, the founder of collapsed hedge fund Archegos, was sentenced Wednesday to 18 years in prison after he was convicted of lying to banks in order to secure billions of dollars in loans used to manipulate the market.

  • November 20, 2024

    Cleary Hires Milbank Atty For Capital Markets Team

    Cleary Gottlieb Steen & Hamilton LLP announced the addition of a former Milbank LLP transactional attorney to its New York office on Wednesday, saying she will be an asset for its capital markets clients.

  • November 20, 2024

    Atty From Telecom Biz Joins IP Firm Panitch Schwarze

    Panitch Schwarze Belisario & Nadel LLP has hired an attorney with extensive in-house experience in the tech industry to help enhance the intellectual property services it offers to its clients.

  • November 20, 2024

    Sidley-Guided Lifeway Rejects Second Danone Buyout

    Lifeway Foods Inc. said Wednesday that its board has rejected a Nov. 15 revised offer from Danone North America PBC to buy the remainder of Lifeway for $27 per share, or roughly $306 million.

  • November 20, 2024

    TGI Fridays Gets OK On Bid Process As It Seeks Out Buyers

    A Texas bankruptcy judge on Wednesday approved TGI Fridays' procedures for contacting and selecting prospective buyers for its assets after the struggling restaurant chain said it was in discussions with at least 21 potential bidders.

  • November 20, 2024

    Walgreens Wins Sanctions Over Depo With 300 Objections

    An Illinois federal judge on Wednesday ruled Walgreens can recover the costs of a contentious deposition in a dispute with an electronics company, saying the witness "possessed virtually no knowledge" of the matters laid out in the deposition notice and the company's attorney engaged in "improper, obstructionist conduct" during the proceeding.

  • November 20, 2024

    Calif. Voters Reject Minimum Wage Hike In Rare Outcome

    A slim majority of California voters shot down a ballot measure that would have raised the state's minimum wage to $18 an hour, the first time such a proposal has failed in any state in nearly three decades.

  • November 20, 2024

    Trump Wants 'Immediate Dismissal' Of NY Hush Money Case

    President-elect Donald Trump's legal team told the New York judge who presided over his hush money trial that his conviction should be thrown out due to his "overwhelming victory" at the polls, according to a filing released Wednesday.

  • November 20, 2024

    Bankman-Fried Tech Deputy Who Parsed Code Avoids Prison

    A Manhattan federal judge allowed tech expert Zixiao "Gary" Wang to avoid jail Wednesday for his role in the $11 billion FTX fraud, crediting his effort to detail programming "back doors" that enabled Sam Bankman-Fried to loot the bankrupt crypto exchange.

Expert Analysis

  • Election Unlikely To Overhaul Antitrust Enforcers' Labor Focus

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    Although the outcome of the presidential election may alter the course of antitrust enforcement in certain areas of the economy, scrutiny of labor markets by the Federal Trade Commission and the U.S. Department of Justice is likely to remain largely unaffected — with one notable exception, say Jared Nagley and Joy Siu at Sheppard Mullin.

  • Anticipating Jarkesy's Effect On Bank Agency Enforcement

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    Following the U.S. Supreme Court’s decision in U.S. Securities and Exchange Commission v. Jarkesy, federal courts may eventually issue decisions on banking law principles and processes that could fundamentally alter the agencies' enforcement action framework, and the relationship between banks and examiners, says Brendan Clegg at Luse Gorman.

  • CFTC Anti-Fraud Blitz Is A Warning To Carbon Credit Sellers

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    With its recent enforcement actions against a carbon offset project developer and its senior executives for reporting false information about the energy savings of the company's projects, the Commodity Futures Trading Commission is staking out its position as a primary regulator in the voluntary carbon credit market, say attorneys at Morgan Lewis.

  • Unpacking State AG Approaches To Digital Asset Enforcement

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    Attorneys at Cozen O'Connor survey recent digital asset enforcement by attorneys general nationwide driven by concerns over regulatory gaps where technological developments and market changes have outpaced legislation.

  • 3 Takeaways From Navy Shipbuilder's Fraud Guilty Plea

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    Austal USA’s recent plea agreement over accounting fraud charges highlights for other companies the benefits of cooperating with government investigations, the challenges posed by senior executives’ involvement in misconduct, and the high stakes for defense contractors, say Michael DeBernardis and Shayda Vance at Hughes Hubbard.

  • Opinion

    Legal Institutions Must Warn Against Phony Election Suits

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    With two weeks until the election, bar associations and courts have an urgent responsibility to warn lawyers about the consequences of filing unsubstantiated lawsuits claiming election fraud, says Elise Bean at the Carl Levin Center for Oversight and Democracy.

  • Peeling Back The Layers Of SEC's Equity Trading Reforms

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    The U.S. Securities and Exchange Commission's recently adopted amendments lowering the tick sizes for stock trading and reducing access fee caps will benefit investors and necessitate broad systems changes — if they can first survive judicial challenges, say attorneys at Sidley.

  • What Being An 'Insider' Means In Ch. 11, And Why It Matters

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    As borrowers grapple with approaching near-term maturities on corporate debt, lenders should be proactive in mitigating the risks of being classified as an insider in potential bankruptcies, including heightened scrutiny, preference risk, plan voting and more, say David Hillman and Steve Ma at Proskauer.

  • How Cos. Can Build A Strong In-House Pro Bono Program

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    During this year’s pro bono celebration week, companies should consider some key pointers to grow and maintain a vibrant in-house program for attorneys to provide free legal services for the public good, says Mary Benton at Alston & Bird.

  • Bristol-Myers Win Offers Lessons For Debt Security Holders

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    A New York federal judge's recent dismissal of a $6.4 billion lawsuit against Bristol-Myers Squibb, due to plaintiff UMB Bank's lack of standing, serves as an important reminder to debt security holders to obtain depositary proxies before pursuing litigation, say attorneys at Milbank.

  • Series

    Home Canning Makes Me A Better Lawyer

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    Making my own pickles and jams requires seeing a process through from start to finish, as does representing clients from the start of a dispute at the Patent Trial and Appeal Board through any appeals to the Federal Circuit, says attorney Kevin McNish.

  • Avoiding Merger Disputes Via Careful LLC Agreement Drafting

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    The Delaware Court of Chancery recently upheld a merger in a dispute over the process of amending the target's limited liability company agreement, underscoring the importance of understanding the Delaware LLC Act default rules and careful drafting to allow for contractual modifications, says Jane Trueper at Lathrop.

  • Navigating The Bankruptcy Terrain After Purdue Pharma

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    The U.S. Supreme Court’s June ruling in Harrington v. Purdue Pharma is having a significant impact on bankruptcies, with recent cases addressing nonconsensual third-party releases and opt-out mechanisms, and highlighting strategies practitioners can employ to avoid running afoul of the decision, say Brett Axelrod and Agostino Zammiello at Fox Rothschild.

  • How Project 2025 Could Upend Federal ESG Policies

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    If implemented, Project 2025, the Heritage Foundation's policy playbook for a Republican presidential administration, would likely seek to deploy antitrust law to target ESG initiatives, limit pension fund managers' focus to pecuniary factors and spell doom for the U.S. Securities and Exchange Commission's climate rule, say attorneys at Mintz.

  • Opinion

    Rental Price-Fixing Suit Against RealPage Doesn't Add Up

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    Recent government antitrust litigation against RealPage, alleging that the software company's algorithm for setting rental prices amounts to price-fixing, has failed to allege an actual conspiracy, and is an example of regulatory overreach that should be reined in, says Andrew Ketterer at Ketterer & Ketterer.

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