Chamber Rips Multibillion-Dollar Atty Fee Bid In Musk Pay Suit

By Jeff Montgomery

The nation's largest business organization has urged Delaware's Court of Chancery to adopt sweeping curbs to jumbo plaintiff attorney fee awards, declaring a multibillion-dollar fee bid following the cancellation of Tesla CEO Elon Musk's stock-based pay plan "shocks the conscience."

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Coinbase Renews Plea For Gensler's Private Emails

By Jessica Corso

Coinbase Inc. asked once again Tuesday to access the private communications of U.S. Securities and Exchange Commission Chair Gary Gensler as it fights allegations that it permitted the illegal trading of unregistered securities on its crypto platform.

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Analysis

Labor Dept. ESG Rule May Survive Chevron's Demise

By Kellie Mejdrich

The Fifth Circuit recently overturned a ruling that relied on the now-defunct doctrine of Chevron deference to uphold a U.S. Department of Labor rule covering socially conscious retirement plan investing, but some experts believe the rule has a good chance at surviving — even with the precedent off the books.

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Analysis

Knives Out For Another Pro-Agency Landmark After Chevron

By Jeff Overley

Only weeks after U.S. Supreme Court conservatives took a hatchet to the judicial deference shown to federal agencies, right-leaning lawyers are imploring the justices to rock the administrative law realm again by gutting a New Deal-era precedent at the heart of the modern regulatory system.

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Senate Dems Roll Out Bill To Codify Chevron Deference

By Courtney Bublé

Sen. Elizabeth Warren, D-Mass., led a group of Democratic senators Tuesday in introducing a bill to codify the now-defunct doctrine of Chevron deference after it was struck down by the U.S. Supreme Court last month.

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Brief

SEC Names New Acting Head Of Exams

By Sarah Jarvis

The U.S. Securities and Exchange Commission has announced that the deputy director of its examinations division will serve as the unit's new acting director, as the previous director takes a leave of absence to focus on his health.

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Brief

Indonesian National Admits To $23M Ponzi Scheme

By Elliot Weld

An Indonesian national pled guilty in New York federal court on Tuesday to conspiring to defraud a group of investors out of $23 million through a Ponzi scheme, ultimately spending the money on luxury goods and real estate.

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Chancery Spikes Raytheon Stockholder's Derivative Suit

By Leslie A. Pappas

A shareholder who faulted directors at Raytheon Technologies Corp. for allowing a special committee to change employee compensation plans without first seeking stockholder approval has failed to show how the board of directors did anything wrong, a Delaware vice chancellor ruled Tuesday, dismissing the derivative lawsuit.

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Chancery Ends Challenge To $12.5B Qualtrics' SAP Sale

By Jeff Montgomery

Saying it was not reasonably conceivable that he would find software giant SAP and Qualtrics International Inc. directors liable for damages after Qualtrics' $12.5 billion sale to Silver Lake Capital despite a superficially better offer, a Delaware vice chancellor on Tuesday dismissed a stockholder challenge to the deal.

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Chancery Slams 'Squishy' Deal In 'Tagalong' BioMarin Suit

By Leslie A. Pappas

A visibly irritated Delaware Chancery Court judge on Tuesday rejected a settlement with BioMarin Pharmaceuticals Inc. that would have given shareholder attorneys $1.25 million in exchange for broad releases and "squishy" governance reforms, saying he didn't want to encourage "tagalong litigation" that yielded only "ephemeral" benefits.

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'Let's Go Brandon' Coin Buyers Seek Class Cert.

By Emilie Ruscoe

Investors in the meme-inspired cryptocurrency LGBcoin sought class certification in a lawsuit alleging that prices for the token cratered after its much-hyped plan to sponsor the coin's eponymous NASCAR driver fell apart.

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Funds Say Boeing Can't Ditch 737 Max Securities Suit

By Katryna Perera

Pension funds leading a proposed securities fraud suit against Boeing have fired back at the airline manufacturer's attempt to dismiss allegations that it misled investors about the safety of its 737 Max jets, saying the suit sufficiently showcases how missteps by Boeing's top brass diminished shareholder value.

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Ex-Celgene Exec Off The Hook For Statements To Investors

By Carla Baranauckas

Celgene Corp.'s former chief operating officer on Tuesday escaped some claims in a class action contending that the biopharmaceutical company artificially inflated its share price, with a New Jersey federal court finding that the ex-executive never made nor could he be linked to the statements that were issued by the company.

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Judge Doubts CenturyLink Can Block Borrowed Allegations

By Thy Vo

A Colorado Court of Appeals panel Tuesday pressed an attorney for CenturyLink on why a shareholder can't use allegations borrowed from other cases in his own securities suit against the telecommunications company, with one judge saying that requiring plaintiff's counsel to speak to every witness would be going overboard.

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Capital One Card Holders Sue To Block Discover Merger

By Jared Foretek

Capital One credit card holders launched a proposed class action seeking to block the company's $35 billion purchase of Discover Monday, claiming the acquisition will drive down competition and further consolidate the already-concentrated credit card market.

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Nettled Exec Tells Jury Wells Fargo Doesn't Get His Disability

By Hayley Fowler

A former Wells Fargo managing director who claims he was terminated because of his disability wavered between being tearful and exasperated during four hours on the stand Tuesday as he tried to explain to a jury in Charlotte what workplace accommodations he was seeking and why.

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Snell & Wilmer Hires Longtime Procopio Group Leader In Calif.

By Jack Rodgers

Snell & Wilmer LLP has hired a more than 20-year veteran of Procopio Cory Hargreaves & Savitch LLP who led his former firm's emerging growth and venture capital practice group in California.

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Half-Truths Vs. Omissions: Slicing Justices' Macquarie Cake

The U.S. Supreme Court's recent ruling in Macquarie v. Moab provides a road map for determining whether corporate reports that omit information should be considered misleading — and the court baked it into a dessert analogy that is key to understanding the guidelines, say Daniel Levy and Pavithra Kumar at Advanced Analytical Consulting Group.

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3 Areas Of Enforcement Risk Facing The EV Industry

Companies in the EV manufacturing ecosystem are experiencing a boom in business, but with this boom comes increased regulatory and enforcement risks, from the corruption issues that have historically pervaded the extractive sector to newer risks posed by artificial intelligence, say attorneys at MoFo.

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Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

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Where Biden Stands On Judicial Noms Compared To Trump

By Courtney Bublé

With President Joe Biden now set to be a one-term president, it appears he can match President Donald Trump's record on district court nominees, but it's not likely he will on nominees to circuit courts.

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Dentons Brings On Former Big 4 Exec As New Global CEO

By Aebra Coe

Global law firm Dentons, which has made a name for itself by aggressive growth through combinations, has tapped a new global chief executive officer with leadership experience at accounting giant EY, the firm's first change at the top in over a decade.

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Mintz Reelects Bodian To Final Term As Managing Member

By Tracey Read

Mintz Levin Cohn Ferris Glovsky and Popeo PC announced Wednesday that Bob Bodian, who was already the longest-serving managing member in the firm's 91-year history, has been elected to a sixth and final three-year term.

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Jenner & Block Wants Out Of COVID Vax Refusal Firing Suit

By Katryna Perera

Jenner & Block LLP has asked an Illinois federal judge to toss a former employee's claims that she was fired after being denied a religious exemption from the firm's COVID-19 vaccine mandate, saying she didn't do enough to spell out her religious beliefs or how they conflict with the vaccine.

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Parts Of Klehr Harrison Bills Not Privileged, Pa. Panel Finds

By Emily Sawicki

Pennsylvania journalists can view the subject lines of invoice requests sent to the Pennsylvania Office of General Counsel by outside law firms including Klehr Harrison, with a state appeals court panel determining the information falls under the state's Right-to-Know Law and is not privileged, nor is it protected by a court order.

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Series

Being A Luthier Makes Me a Better Lawyer

When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

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