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August 14, 2024
Temu Parent Faces Investor Suit Over Security, Labor Claims
Chinese retail company PDD Holdings Inc., the owner of online merchandiser Temu, was hit with a proposed securities class action in New York federal court alleging it concealed from investors that it actively sought to put malware on its users' phones and sold goods that were likely made by forced labor.
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August 14, 2024
Google-Epic Antitrust Judge Vows To 'Tear The Barriers Down'
A California federal judge appeared impatient Wednesday with Google's arguments against Epic Games' proposed changes to the Google Play Store in the wake of Epic's antitrust jury win, saying the world created by its "monopolist conduct" is changing, and vowing "to tear the barriers down."
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August 14, 2024
Schools Chatbot Co. Seeks Liquidation Amid Data Concerns
AllHere Education Inc., the Boston-based Harvard Innovation Labs venture that sold AI-powered chatbots to schools, filed for Chapter 7 liquidation in Delaware on Tuesday amid concerns about the privacy of students' data.
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August 14, 2024
Supply Chain Automation Co. Symbiotic Faces Investor Suit
Symbotic Inc., a supply chain automation technology company, was hit with a proposed class action Wednesday alleging it misled investors about its growth prospects after announcing a roughly $13 million earnings miss amid unanticipated costs and construction delays for certain projects.
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August 14, 2024
Del. Justices Affirm $266M Atty Fee Award In Dell Class Suit
Delaware's Supreme Court on Wednesday backed a Chancery Court decision awarding an almost record-breaking $266.7 million fee for stockholder attorneys who settled a class action against Dell Technologies Inc. for $1 billion, saying the Chancery "did not exceed its discretion in setting the fee percentage."
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August 14, 2024
House Republican Files Bill To Fix 'Rip And Replace' Shortfall
A Texas Republican has introduced U.S. House legislation to fill the shortfall in the "rip and replace" program to reimburse telecoms for ridding their networks of Chinese-made components, to the tune of $3.08 billion.
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August 14, 2024
Computer Equipment Co. Hid Demand Decline, Investor Says
Cloud network equipment company Extreme Networks Inc. misled investors about its financial prospects and declining client demand as its customers' buying habits changed during the COVID-19 pandemic, according to a proposed class action filed in California federal court.
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August 14, 2024
FTC Finalizes Rule To Crack Down On Fake Online Reviews
The Federal Trade Commission on Wednesday announced it has finalized a rule to thwart marketers from using false reviews and testimonials, cementing the agency's authority to seek civil penalties from knowing violators for a host of misconduct including the use of AI-generated fake reviews.
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August 14, 2024
Air Force Didn't Vet Trade Agreement Compliance On IT Deal
The U.S. Government Accountability Office has sustained an HP Inc. unit's protest over a U.S. Air Force information technology deal, saying the winning bidder didn't properly show whether monitors it offered complied with the Trade Agreements Act.
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August 14, 2024
Netgear Says Scammer Used Its TMs To Defraud Customers
An alleged online scammer is using Netgear Inc.'s trademarks to trick the computer networking company's customers into thinking they are buying products and services from Netgear itself, according to the company's $4 million complaint alleging trademark infringement and unfair competition.
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August 14, 2024
Streaming Cos. Ask FCC To Gauge Fixed Broadband Market
Video streamers and other edge providers hope to make one thing clear as the Federal Communications Commission dissects competition in the high-speed internet space — the fixed broadband service market is still dominated by a few heavyweights and more should be done to assess how the addition of new competitors affects individual markets.
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August 14, 2024
Proskauer-Led PE Firm Closes $800M Tech Fund
Software-focused private equity shop Resurgens, advised by Proskauer Rose LLP, announced Wednesday it closed a third fund after securing $800 million in investor commitments.
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August 14, 2024
AI Job Search Co. Says Rival's Claims Don't Support IP Suit
Job search platform Tarta.ai has again asked a California federal court to dismiss Jobiak LLC's copyright complaint accusing its rival of stealing its artificial intelligence-driven employment postings database, saying Jobiak has not shown that its individual job listings are copyrightable or that the court has jurisdiction over the case.
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August 14, 2024
Mobile Carriers Worry Anti-Robotext Rules Could Go Too Far
Content-neutral text-blocking standards are not the way to go, a key wireless trade group has told the Federal Communications Commission, saying that stripping away the current industry standards in favor of nondiscriminatory ones would "open the floodgates to messages that consumers do not want."
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August 14, 2024
EU OKs Siemens' $3.8B Sale Of Innomotics To PE Firm KPS
European Union antitrust enforcers signed off Wednesday on German tech conglomerate Siemens AG's plan to sell its Innomotics large motors and drives unit to New York City-based private equity firm KPS Capital Partners, finding that the deal, with an enterprise value of €3.5 billion ($3.9 billion), poses "limited" overlap concerns.
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August 14, 2024
Baker Botts, Sumner Schick Seek $14.3M In Fees For IP Win
Baker Botts LLP and Sumner Schick LLP are seeking nearly $14.3 million in attorney fees plus almost $1.8 million in costs for representing Computer Sciences Corp. in a trade secrets dispute where the IT company won $168.4 million after a Texas jury found Tata Consultancy Services willfully misappropriated CSC's proprietary information.
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August 14, 2024
M&A Surge May Bring Opportunities For Cybercriminals
An increase in mergers and acquisitions is creating more openings for cybercriminals to exploit companies and their customers, highlighted by February's Change Healthcare breach and other major hacks, according to a new report from cybersecurity firm Resilience.
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August 14, 2024
Judge DQs Ex-Overstock CEO's Atty For Discovery Violations
A Washington, D.C., federal judge has granted Dominion Voting Systems' "extraordinary and rarely granted" disqualification bid over serious discovery violations by a lawyer defending Overstock.com CEO Patrick Byrne in a defamation lawsuit brought by the voting machine company.
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August 14, 2024
EliseAI Becomes 'Unicorn' After Latest $75M Fundraise
EliseAI, a conversational artificial-intelligence platform focused on the housing industry, on Aug. 14 announced it had reached "unicorn" status after the successful close of a $75 million Series D funding round.
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August 14, 2024
Squarespace Shareholder Opposes $6.9B Go-Private Deal
Squarespace Inc. minority shareholder Glazer Capital LLC on Wednesday announced its intent to vote against the company's planned $6.9 billion buyout by private equity giant Permira, saying it has "serious concerns" about the fairness and integrity of the sale process.
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August 14, 2024
Chancery Says Unisys Must Advance Ex-Workers' Legal Fees
Pennsylvania information technology company Unisys Corp. must front the legal fees and expenses for two executives it hired away from French competitor Atos SE and then sued for trade secret infringement after they went back to Atos two years later, Delaware's Court of Chancery has ruled.
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August 13, 2024
Ex-GM Worker Gets 2 Years For Seeking Bribe In $100M Deal
A former General Motors Co. commodity manager was sentenced to two years behind bars Tuesday for soliciting a $5 million cash bribe from an auto parts supplier in return for ensuring it secured a $100 million contract, the U.S. Department of Justice said.
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August 13, 2024
Calif. Bar Officially Inks $8M Deal With Kaplan For New Exam
The State Bar of California has officially entered into an $8.25 million agreement with Kaplan Exam Services LLC to replace the National Conference of Bar Examiners' exam after four decades of using the NCBE's Multistate Bar Examination, according to an announcement made Tuesday.
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August 13, 2024
Beef With OpenAI's CEO Irrelevant To TM Suit, Judge Says
A California federal judge appeared open Tuesday to trimming counterclaims filed by a man accused by OpenAI of preventing the ChatGPT-maker from registering its name as a trademark, criticizing the allegations for being too generalized and driven by irrelevant "disgruntlement" against OpenAI CEO Sam Altman.
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August 13, 2024
Atlassian Again Beats Investor Suit Over Software Co.'s Slump
Investors in software company Atlassian Corp. haven't shored up claims that the company hid a slowdown in a key growth metric before a 2022 earnings miss, a San Francisco federal judge has decided, dismissing a proposed class action but giving plaintiffs one more shot at their claims.
Expert Analysis
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Lessons From Epic's Dutch Fine For Unfair Marketing To Kids
Dutch regulators' imposition of a €1.1 million fine on Epic Games for unfair commercial practices targeting children marks a significant moment in the ongoing scrutiny of digital market practices, and follows an increased focus on children's online safety in the U.S. and European Union, say attorneys at Crowell & Moring.
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Opinion
California Has A Duty To Curtail Frivolous CIPA Suits
As plaintiffs increasingly file class actions against companies for their use of website tracking cookies and pixels, the Legislature should consider four options to amend the California Invasion of Privacy Act and restore the balance between consumer privacy and business operational interests, say Steven Stransky and Jennifer Adler at Thompson Hine and Glenn Lammi at the Washington Legal Foundation.
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Risks And Promises Of AI In The Financial Services Industry
Generative artificial intelligence has immense potential to revolutionize the financial services industry, but firms considering its use should first prepare to show their customers and the increasingly divided international regulatory community that they can manage the risks inherent to the new technology, say attorneys at Gibson Dunn.
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8th Circ. Insurance Ruling Spotlights Related-Claims Defenses
The Eighth Circuit’s recent Dexon v. Travelers ruling — that the insurer must provide a defense despite the policy’s related-acts provision — provides guidance for how policyholders can overcome related-acts defenses, say Geoffrey Fehling and Jae Lynn Huckaba at Hunton.
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Series
Playing Chess Makes Me A Better Lawyer
There are many ways that chess skills translate directly into lawyer skills, but for me, the bigger career lessons go beyond the direct parallels — playing chess has shown me the value of seeing gradual improvement in and focusing deep concentration on a nonwork endeavor, says attorney Steven Fink.
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Key FCC Enforcement Issues In AT&T Location Data Appeal
AT&T’s decision to challenge a $57 million fine from the Federal Communications Commission for its alleged treatment of customer location information highlights interesting and fundamental issues about the constitutionality of FCC enforcement, say Patrick O’Donnell and Jason Neal at HWG.
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Patent Lessons From 7 Federal Circuit Reversals In May
A look at recent cases where the Federal Circuit reversed or vacated decisions by the Patent Trial and Appeal Board or a federal district court provide guidance on how to succeed on appeal by clarifying the obviousness analysis of design patents, the finality of a judgment, and more, say Denise De Mory and Li Guo at Bunsow De Mory.
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How SEC Could Tackle AI Regulations On Brokers, Advisers
The U.S. Securities and Exchange Commission held an open meeting of its Investor Advisory Committee on June 6 to review the use of artificial intelligence in investment decision making, showing that regulators are being careful not to stifle innovation or implement rules that will quickly be made irrelevant after their passage, says Brian Korn at Manatt Phelps.
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Litigation Inspiration: Attys Can Be Heroic Like Olympians
Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.
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What TikTok's Race Against The Clock Teaches Chinese Firms
The Biden administration's recent divestiture deadline on TikTok parent ByteDance provides useful information for other China-based companies looking to do business in the U.S., including the need to keep products for each market separate and implement firewalls at the design stage, says Richard Lomuscio at Stinson.
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Updated Federal Rules Can Improve Product Liability MDLs
The recent amendment of a federal evidence rule regarding expert testimony and the proposal of a civil rule on managing early discovery in multidistrict legislation hold great promise for promoting the uniform and efficient processes that high-stakes product liability cases particularly need, say Alan Klein and William Heaston at Duane Morris.
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Lean Into The 'Great Restoration' To Retain Legal Talent
As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.
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FDA's Data Monitoring Guidance Reveals Future Expectations
As the world of clinical research grows increasingly complex, the U.S. Food and Drug Administration's recent draft guidance on the use of data monitoring committees in clinical trials reveals how the agency expects such committees to develop, say Melissa Markey and Carolina Wirth at Hall Render.
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Unlocking Blockchain Opportunities Amid Legal Uncertainty
Dozens of laws and legal precedents will come into the fore as Web3, metaverse and non-fungible tokens gain momentum, so organizations need to design their programs with a broader view of potential exposures — and opportunities, say Teresa Goody Guillén and Robert Musiala at BakerHostetler and Steve McNew at FTI Consulting.
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What The NYSE Proposed Delisting Rule Could Mean For Cos.
The New York Stock Exchange's recently proposed rule would provide the exchange with discretionary authority to commence delisting proceedings for a company substantially shifting its primary business focus, raising concerns for NYSE-listed companies over the exact definition of the exchange's proposed "substantially different" standard, say attorneys at Winston & Strawn.