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Technology
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June 12, 2024
Ex-Navy Employee Pleads Guilty To Contract Bribery Scheme
Former U.S. Navy civilian official James Soriano has pleaded guilty to accepting bribes from Navy contractors to help steer hundreds of millions of dollars in deals to the companies, after reaching a plea deal with prosecutors.
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June 12, 2024
4 Charged In $50M Email, Romance Fraud Schemes
Four people were charged by Brooklyn federal prosecutors with participating in a series of fraudulent email and romance fraud schemes that resulted in $50 million in losses to the alleged victims.
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June 12, 2024
Miss. Social Media Age Law Faces Free-Speech Challenge
Mississippi is the latest state to enact a law that requires social media companies to verify the age of all users, but a challenge seeking to block that law from taking effect is already on the docket in federal court with a preliminary injunction hearing slated for this month.
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June 12, 2024
SPAC Dealmakers Expect Modest Pickup After Market Bottom
Market professionals expect a slow pickup in deals involving special-purpose acquisition companies starting in the second half of 2024, predicting on Wednesday that a leaner market will emerge following the recent crash and imposition of tighter regulations.
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June 12, 2024
Directors Of Defunct Med Tech SPAC Seek Toss Of Del. Suit
Directors of a special purpose acquisition company that merged with now-defunct medical technology company Better Therapeutics Inc. urged Delaware's Court of Chancery on Wednesday to toss a shareholder's suit about the $15 million de-SPAC merger, saying it wasn't like other problematic SPAC deals.
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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 12, 2024
Okta, Investors Reach $60M Deal In Cyberattack Coverup Suit
Okta Inc. investors have asked a California federal judge to give the first OK to a $60 million settlement reached in a suit alleging the software company misled the certified class about a 2022 cyberattack.
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June 12, 2024
QuantumScape Shareholders Seek Initial OK For $47.5M Deal
Investors of QuantumScape have asked a California federal judge to give the first green light to a $47.5 million settlement to end their class action suit, which alleged published articles revealed the company made false statements about the quality of its batteries and the tests it used to measure performance.
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June 12, 2024
Amazon Flex Drivers Seek to Arbitrate Employment Status
Nearly 16,000 Amazon drivers filed arbitration claims against the e-commerce giant with the American Arbitration Association this week seeking unpaid wages and compensation for work-related expenses because of their misclassification as independent contractors.
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June 12, 2024
Colo. Tech Co. Says Startup Founder Can't Shield Sale Docs
A Colorado technology company is arguing that the founder of a startup it acquired shouldn't be allowed to withhold nearly half of the documents it is seeking by asserting privilege in his $15 million fraud suit, as he claimed to rely on his law firm's advice when he approved the deal.
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June 12, 2024
Lawmakers Reach Deal With DOD On Spectrum Sharing
A Senate committee said late Tuesday that lawmakers reached an agreement with the U.S. Department of Defense that will allow legislation for new sales of commercial spectrum licenses to move forward.
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June 12, 2024
Spacecraft Maker Clinches $95M Series B Funding Round
Spacecraft manufacturing company Apex on Wednesday announced that it clinched its Series B funding round after securing $95 million from investors, which will be used to help the Los Angeles-based company ramp up production to meet growing customer demand.
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June 11, 2024
Musk Drops Suit Against OpenAI On Eve Of Dismissal Hearing
Elon Musk on Tuesday voluntarily dismissed his suit accusing former business partner and OpenAI CEO Sam Altman of betraying his promises to run the artificial intelligence operation as a nonprofit, a move that comes the day before a hearing was set on OpenAI's dismissal bid.
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June 11, 2024
Amplitude Execs Face Suit Over Post-IPO Share Inflation
Current and former insiders of business software maker Amplitude were hit with a shareholder derivative suit claiming they profited from misrepresentations they made about the likelihood of the company sustaining its revenue growth following its initial public offering.
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June 11, 2024
Attys For Restaurant Software Investors Ring Up $2.25M Fee
Attorneys representing investors in a suit against restaurant software company Olo Inc. will receive $2.25 million for brokering settlement of class action claims alleging the company touted an ill-fated partnership with sandwich chain Subway as an example of its success.
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June 11, 2024
Listing Co. Urges Court To Ignore DOJ's Broker Deal Issues
A multiple listing service that has struck a $3 million settlement over broker commission rules told a Massachusetts federal court the changes proposed by the U.S. Department of Justice go far beyond what's required and would create an antitrust problem in the real estate industry.
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June 11, 2024
Prison Phone Cos. Want To Factor Security Cost Into Rates
Prison phone call providers need to be allowed to factor the cost of safety and security features into the rates that they charge incarcerated people to contact their loved ones, a trio of companies has told the Federal Communications Commission.
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June 11, 2024
Calif. Judge Won't Let Apple Escape Tech Patent Case
A California federal judge has found Apple can't dodge a patent suit, allowing claims to move forward that the tech giant's "back tap" feature infringes a patent owned by technology company Haptic Inc.
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June 11, 2024
Quinn Emanuel Swapped Sides For X Suit, Data Co. Says
Israeli data collector Bright Data Ltd. asked a California federal judge on Tuesday to disqualify law firm Quinn Emanuel Urquhart & Sullivan LLP from representing social media company X Corp., which is suing Bright Data over its data-scraping practices, accusing the firm, which was once contracted by the data company for advice in a similar matter, of switching sides.
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June 11, 2024
NFL Balks At Delays, Amendments To Mobile App Privacy Suit
A proposed class action alleging that the NFL failed to protect data on its mobile app should not be allowed to replace the lead plaintiff, especially after he has exhibited a "lack of diligence and delay" during the suit, the league told a Rhode Island federal judge Tuesday.
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June 11, 2024
9th Circ. Judge On Theranos Appeal: 'Good Story' For Holmes
Two Ninth Circuit judges on a three-judge panel expressed concerns Tuesday that the district judge presiding over convicted former Theranos CEO Elizabeth Holmes' criminal trial erred by allowing a layperson witness to offer expert testimony at trial, with one judge saying, "There's a pretty good story here for Ms. Holmes."
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June 11, 2024
HashiCorp Hit With Investor Suit Over $6.4B Sale To IBM
Software company HashiCorp Inc. and its board members face an investor suit seeking to halt an upcoming shareholder vote on a proposed $6.4 billion acquisition of HashiCorp by tech giant IBM, alleging the deal would unfairly benefit company insiders and hasn't been properly detailed in required filings.
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June 11, 2024
AI No Scarier Than Nail Guns Or Microscopes, Kappos Says
Former U.S. Patent and Trademark Office Director David Kappos cautioned attorneys Tuesday to "keep ourselves grounded" about the use of artificial intelligence in intellectual property, saying it's just a tool like a microscope or nail gun, rather than something justifying "panic."
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June 11, 2024
4 More States Join DOJ's Antitrust Suit Against Apple
The attorneys general of Washington, Massachusetts, Nevada and Indiana on Tuesday became the latest to join the U.S. Department of Justice's antitrust lawsuit in New Jersey federal court claiming Apple is monopolizing the smartphone market.
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June 11, 2024
Roblox Based Forecast On 'Tenuous' Factors, Investor Says
A Roblox Corp. shareholder accused the online gaming platform in California federal court Monday of misleading investors with projected online sales revenue that came in at least $100 million short, boasting of its technology developments and advertising efforts despite knowing those revenue opportunities were "tenuous at best."
Expert Analysis
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Patent Ownership Issues In Light Of USPTO AI Guidance
Recently published guidance from the U.S. Patent and Trademark Office establishes that inventions created using artificial intelligence may be patentable if a human also significantly contributes, but ownership and legal rights in these types of patents are different issues that require further assessment, says Karl Gross at Leydig Voit.
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Contract Negotiation Prep Checklist For In-House Ad Lawyers
Barriers for in-house lawyers and procurement professionals persist in media and ad tech contract negotiations — but a pre-negotiation checklist can help counsel navigate nuances and other industry issues that need to be considered before landing a deal, including supplier services, business use cases and data retrieval, says Keri Bruce at Reed Smith.
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5 Takeaways From SAP's Foreign Bribery Resolutions
German software company SAP’s recent settlements with the U.S. Department of Justice and U.S. Securities and Exchange Commission, resolving allegations of foreign bribery, provide insights into government enforcement priorities, and how corporations should structure their compliance programs to reduce liability, say attorneys at Perkins Coie.
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Series
Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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How Suit Over An AI George Carlin May Lead To Legislation
George Carlin’s estate recently sued a company over an artificial intelligence-generated podcast allegedly impersonating the late comedian, highlighting the importance of much-needed state and federal protection against unauthorized representations of an individual’s image in the time of AI, say Anna Chauvet and Maxime Jarquin at Finnegan.
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10 Ransomware Issues GCs Should Have On Their Radar
As the ransomware threat landscape rapidly evolves, in-house counsel should expect to face a number of challenging dynamics, including the need to justify any ransom payments both to internal and external stakeholders, and data extortion demands that are bypassing the encryption stage, say attorneys at Alston & Bird.
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Parsing Chinese Governance On AI-Generated Content
As essential risk-mitigation, companies with a China reach should be aware of recent developments in Chinese oversight of AI-generated content, including the latest rulings and regulations as well as the updated ambit for supervisory bodies, say Jet Deng and Ken Dai at Dacheng.
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Former Minn. Chief Justice Instructs On Writing Better Briefs
Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.
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Direct Claims Ruling May Alter Gov't Ties To Software Firms
A recent Federal Circuit decision allowing a software developer to pursue legal action under the Contract Disputes Act could change the government's relationship with commercial software providers by permitting direct claims, even in third-party purchase situations, say Dan Ramish and Zach Prince at Haynes Boone.
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Antitrust Ruling Shows Limits Of US Law's Global Reach
Antitrust plaintiffs often cite the legislative history of the Foreign Trade Antitrust Improvements Act to support application of U.S. antitrust law to alleged injuries abroad, but as a California federal court recognized recently in Figaro v. Apple, the cited history does no such thing, say Daniel Swanson and Eli Lazarus at Gibson Dunn.
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The Fed. Circ. In February: A Reminder On Procedure Rule 28
Because the Federal Circuit does not often issue a sua sponte precedential order emphasizing an important rule of practice, it is useful to look at how the court applied the restrictions of appellate procedure Rule 28 in Promptu v. Comcast last month, and in cases that preceded it, say Jeremiah Helm and Sean Murray at Knobbe Martens.
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New Concerns, Same Tune At This Year's SIFMA Conference
At this year's Securities Industry and Financial Markets Association conference on legal developments affecting the financial services industry, government regulators’ emphasis on whistleblowing and AI washing represented a new refrain in an increasingly familiar chorus calling for prompt and thorough corporate cooperation, say attorneys at Fried Frank.
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HHS' Updated Tracking Tech Guidance Offers Little Clarity
The U.S. Department of Health and Human Services' Office for Civil Rights' updated guidance on the use of online tracking technologies appears more focused on legal issues raised in ongoing litigation with the American Hospital Association and less on practical guidance for covered entities, say attorneys at Sheppard Mullin.
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Ready Or Not, Big Tech Should Expect CFPB Surveillance
In light of the Consumer Financial Protection Bureau's proposed plan to supervise large companies providing the vast majority of digital money transfers, not only will Big Tech have to prepare for regulation previously reserved for traditional banks, but the CFPB will also likely face some difficult decisions and obstacles, says Meredith Osborn at Arnold & Porter.