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June 12, 2024
SEC Says Texas Crypto Cases Aren't Related To Fraud Suit
The U.S. Securities and Exchange Commission asked a Texas federal judge not to stay its case accusing a crypto asset mining and hosting company of securities fraud, saying in a Wednesday brief that the judge's concerns about other pending cases creating "moving-target precedents" were unfounded.
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June 11, 2024
SIFMA, Missouri Seek Early End To Anti-ESG Rules Suit
The Securities Industry and Financial Markets Association and Missouri state officials have filed dueling summary judgment bids in SIFMA's suit over the state's anti-ESG rules for brokers and advisers, with SIFMA claiming the rules violate the First Amendment, and both sides painting the issue as a matter of states' rights versus federal preemption.
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June 11, 2024
DC Circ. Affirms Petrobras' Immunity Denial In Fraud Case
The D.C. Circuit on Tuesday affirmed the denial of Petrobras' immunity defense against an investor fraud lawsuit filed after the petroleum company was implicated in a sprawling bribery scheme, ruling that the alleged fraud caused a direct impact on the United States sufficient to pull Petrobras into the court's jurisdiction.
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June 11, 2024
Travelers Says No Coverage For Investment Bank's Bond Row
A Travelers unit said it doesn't owe directors and officers coverage to an investment bank accused of misleading bondholders into investing in a sports complex development project, telling an Illinois federal court the policy bars coverage for claims arising from the bank's performance of services for a client.
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June 11, 2024
Brazilian Energy Co. Gets $73M ICC Award OK'd
A Manhattan federal court has confirmed a $73 million arbitration award granted to a Brazilian renewable energy company that claimed a Chinese solar cell manufacturer had refused to deliver an order of photovoltaic cells the two companies had agreed upon.
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June 10, 2024
Calif. Targets Oil Giants' Profits In Amended Climate Suit
California Attorney General Rob Bonta on Monday tweaked the state's climate deception suit against Exxon Mobil Corp., Shell, Chevron, ConocoPhillips and BP to also target the oil and gas companies' "illegally obtained" profits under a recently enacted state law.
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June 10, 2024
Debevoise Aims To Sink Cognizant Bribery Trial Subpoena
Debevoise & Plimpton LLP urged a New Jersey federal judge Monday to quash defendants' trial subpoena that would require a Debevoise partner to testify in an upcoming September criminal bribery trial against ex-Cognizant Technology Solutions's chief legal officer and another former executive, arguing that the testimony is subject to attorney-client privilege.
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June 10, 2024
Cut Penalties For Rural Buildout Shortcomings, FCC Urged
A trade group representing electric cooperatives is joining the chorus of industry interests calling for the Federal Communications Commission to reduce penalties for companies that withdraw from federally backed rural broadband projects, saying the commission rules should not be "punitive" when build-outs stop making sense.
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June 10, 2024
US Treasury Targets Houthi Maritime Smuggling Network
The U.S. Department of the Treasury added 10 entries to its sanctions blacklist Monday, including designations for crew members and purported document forgers linked to an Iran-based financier the agency views as a leading enabler of Yemen's Houthi rebels.
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June 10, 2024
Contractor Can Replead Claims In $115M City Streetcar Suit
A contractor suing the city of Charlotte for $115 million over alleged cost overruns and delays on a streetcar line construction project will have another shot at pleading its contract claims after a North Carolina Business Court judge cleared the path to file an amended complaint.
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June 10, 2024
High Court Won't Review FCC's Universal Service Fund
The U.S. Supreme Court declined Monday to review whether the country's fee-based telecom subsidy system unlawfully delegates taxing powers from Congress to the Federal Communications Commission and a privately run administrator.
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June 10, 2024
Justices Seek Solicitor General View On Climate Change Torts
The U.S. Supreme Court on Monday asked the U.S. solicitor general to weigh in on a bid to end a suit brought by Honolulu seeking to put fossil fuel companies on the hook for climate change-related damages.
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June 07, 2024
Trade Commission Votes To Advance Solar Cell Investigations
The four heads of the U.S. International Trade Commission voted unanimously Friday to continue anti-dumping and countervailing duty investigations into solar cell imports from Cambodia, Malaysia, Thailand and Vietnam, finding evidence that the imports harmed domestic solar manufacturers.
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June 07, 2024
Dentons Adds Pair Of Husch Blackwell Tax Attys
Two South Carolina tax attorneys have joined Dentons' corporate, tax and private client practice as partners after moving from Husch Blackwell LLP, the firm announced on Thursday.
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June 06, 2024
Split FCC Kicks Off Cybersecurity Fund For Schools, Libraries
Democrats on the Federal Communications Commission created a $200 million pilot program Thursday to build up cybersecurity in schools and libraries.
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June 06, 2024
Tribes, Green Groups Lose Challenge To SunZia Power Line
An Arizona federal judge Thursday threw out a challenge by a coalition of tribes and conservation groups to undo a nearly decade-old federal government decision that they said allowed SunZia Transmission LLC to route a 520-mile power line through important cultural and historical sites in the San Pedro Valley.
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June 06, 2024
FCC Could Change Credit Rules To Qualify For Broadband Aid
The Federal Communications Commission is considering easing some letter of credit requirements for Universal Service Fund recipients, saying the current mandates may have become too onerous and could be slowing broadband deployment.
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June 06, 2024
Justices Say Feds Liable For Tribes' Healthcare Admin Costs
A split U.S. Supreme Court on Thursday held that the federal government is required to reimburse two Native American tribes millions of dollars in administrative healthcare costs, saying the spending is necessary for the communities to operate programs assumed from the Indian Health Service.
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June 05, 2024
State-Funded Preschools In Colo. Can't Bar LGBTQ+ Kids
A Colorado federal judge has granted Catholic preschools a narrow injunction blocking the state from requiring that they allow students to enroll without regard for their religious affiliation in order to receive funding from a universal preschool program but upheld the state's nondiscrimination requirements regarding LGBTQ+ students.
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June 05, 2024
Water Co. Settles Project Dispute With Mexico For $36M
A Cayman Islands company that specializes in water supply and treatment plants said it has settled its dispute with Mexico over a terminated project to construct a desalination plant and will sell the land on which the plant was to be built for approximately $36 million.
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June 05, 2024
Sierra Club Touts Offshore Wind Cost Savings In New England
The Sierra Club is heralding offshore wind investment as critical to achieving New England's climate goals, slashing energy costs and protecting residents from volatile natural gas prices, citing a new report it commissioned that Synapse Energy Economics Inc. authored.
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June 05, 2024
Feds Say $1B Power Line Permit Challenge Should Be Zapped
The Biden administration and developers of a proposed $1 billion transmission line that would ship hydropower from Quebec to New England are urging a federal judge to dump challenges to federal approvals for the project, saying there's no question they were lawfully issued.
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June 05, 2024
NY Gov. Indefinitely Halts Manhattan Congestion Pricing
New York Gov. Kathy Hochul on Wednesday shelved congestion pricing just weeks before officials were set to implement a fee for vehicles entering Manhattan's busiest corridor, in a dramatic about-face following intense backlash and litigation from residents and business owners grappling with the high cost of living.
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June 04, 2024
PE Firm Tells 5th Circ. It Got Pushed Out Of EV Co. Acquisition
Texas-based private equity company Ancor Holdings LP says it got pushed out of an acquisition deal by another private equity group it brought in as backup, arguing in oral arguments at the Fifth Circuit on Tuesday that a binding letter of intent means it's entitled to future profits.
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June 04, 2024
Telecom Org. Says Expanding Universal Fund Only Way To Go
The head of a major telecommunications industry group is urging Congress to tap big tech in order to keep the Universal Service Fund afloat, saying in a new article that "the solution to affordable connectivity is staring us in the face."
Expert Analysis
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The Corporate Disclosure Tug-Of-War's Free Speech Issues
The continuing conflict over corporate disclosure requirements — highlighted by a lawsuit against Missouri's anti-ESG rules — has important implications not just for investors and regulated entities but also for broader questions about the scope of the First Amendment, say Colin Pohlman, and Jane Luxton and Paul Kisslinger at Lewis Brisbois.
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Reimagining Law Firm Culture To Break The Cycle Of Burnout
While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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Series
ESG Around The World: Brazil
Environmental, social and governance issues have increasingly translated into new legislation in Brazil since 2020, and in the wake of these recently enacted regulations, we are likely to see a growing number of legal disputes in the largest South American country related to ESG issues such as greenwashing if companies are not prepared to adequately adapt and comply, say attorneys at Mattos Filho.
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Vagueness In Calif. Climate Law Makes Compliance Tricky
California's recently enacted Voluntary Carbon Market Disclosures Act requires companies making claims of carbon neutrality, or significant greenhouse gas emissions reductions, to disclose information supporting those claims — but vague and conflicting language in the statute poses multiple problems for businesses, say John Rousakis and Chris Bowman at O'Melveny.
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Series
Competing In Dressage Makes Me A Better Lawyer
My lifelong participation in the sport of dressage — often called ballet on horses — has proven that several skills developed through training and competition are transferable to legal work, especially the ability to harness focus, persistence and versatility when negotiating a deal, says Stephanie Coco at V&E.
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Harmonizing Agricultural And Clean Energy Goals
Congress' extension of the Farm Bill offers a chance to more thoroughly consider innovation and investments that could transform the competition between farmers and solar developers into synergistic agrivoltaic systems, which use land for both agriculture and solar energy generation, say attorneys at Husch Blackwell.
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CFTC Moves May Boost Interest In Voluntary Carbon Markets
As companies try to reduce their net greenhouse gas emissions, many have been cautious about embracing voluntary carbon credit markets — but recent moves by the U.S. Commodity Futures Trading Commission to regulate this sector may address some of its well-known challenges, say Deborah North and Laura Daugherty at Cleary.
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Key Maritime Law Issues In 2024: Election-Year Unknowns
In the final installment of this three-part article reviewing the top challenges for the maritime industry this year, Sean Pribyl at Holland & Knight examines how the uncertainty surrounding the forthcoming U.S. election may affect the maritime sector — especially companies involved in offshore wind and deep-sea mining.
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The Legal Industry Needs A Cybersecurity Paradigm Shift
As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.
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5 Reasons Associates Shouldn't Take A Job Just For Money
As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.
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Series
Playing Competitive Tennis Makes Me A Better Lawyer
My experience playing competitive tennis has highlighted why prioritizing exercise and stress relief, maintaining perspective under pressure, and supporting colleagues in pursuit of a common goal are all key aspects of championing a successful legal career, says Madhumita Datta at Lowenstein Sandler.
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Series
The Pop Culture Docket: Judge Djerassi On Super Bowl 52
Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.
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Black-Led VC Fund Case Could Hinge On Nature Of Grants
Organizations whose missions involve any manner of race-conscious funding should closely monitor arguments this week in American Alliance v. Fearless Fund, a case filed against a grant program that seeks to address the gap in venture capital funding for Black women-led businesses, which will examine whether grants are charitable under Civil Rights Act Section 1981 liability, say Kali Schellenberg and John Stapleton at LeVan Stapleton, and Kenneth Trujillo at Chamberlain Hrdlicka.
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Ex-OpenSea Staffer Case May Clarify When Info Is Property
In considering the appeal of a former OpenSea manager’s wire fraud conviction in U.S. v. Chastain, the Second Circuit may soon provide guidance about whether economic information is traditional property in certain insider trading prosecutions — a theory of fraud that the U.S. Supreme Court has repeatedly narrowed, say attorneys at Debevoise.
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What R&W Insurance Access Means For Small-Cap M&A
As a slowdown in mergers and acquisitions has increased insurer appetite for underwriting small-cap transactions, buyers of small and midsize enterprises stand to benefit from easier access to representations and warranties insurance, which can add protection and reassurance for all parties involved in a deal, say Caroline Thee and Ewelina Mikocewicz at Taft Stettinius.