Expert Analysis

• How PBMs Can Adapt To Plan Sponsors' Disclosure Demands

  

  As federal reforms, growing state regulation and litigation threats push plan sponsors to expect visibility into revenue streams, pharmacy benefit managers should leverage transparency strategically, including by simplifying how they get paid, offering clients audit-ready data and co-designing contracts that are easy for fiduciaries to explain and defend, says Kristie Blase at Frazer + Blase.

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  Podcasting Makes Me A Better Lawyer

  

  Podcasting has changed how I ask questions and connect with people, sharpening my ability to listen without interrupting or prejudging, and bringing me closer to what law is meant to be: a human profession grounded in understanding, judgment and trust, says Donna DiMaggio Berger at Becker.

• Del. Justices' Upholding Of SB 21 Gives Cos. Needed Clarity

  

  The Delaware Supreme Court's recent unanimous decision in Rutledge v. Clearway Energy — upholding 2025 corporate law amendments enacted through S.B. 21, which clarified safe harbor protections and key terms — may help stem the DExit movement, whose proponents have claimed unpredictability in Delaware courts, say attorneys at Nelson Mullins.

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  Volunteering With Scouts Makes Me A Better Lawyer

  

  Serving as an assistant scoutmaster for my son’s troop reaffirmed several skills and principles crucial to lawyering — from the importance of disconnecting to the value of morality, says Michael Warren at McManis Faulkner.

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  Law School's Missed Lessons: In Court, It's About Storytelling

  

  Law school provides doctrine, cases and hypotheticals, but when lawyers step into the courtroom, they must learn the importance of clarity, credibility, memorability and preparation — in other words, how to tell simple, effective stories, say Nicholas Steverson and Danielle Trujillo at Wheeler Trigg, and Lisa DeCaro at Courtroom Performance.

• Aligning Microsoft Tools With NYC Bar AI Recording Guidance

  

  The New York City Bar Association’s recently issued formal opinion, providing ethical guidance on artificial intelligence-assisted recording, transcription and summarization, raises immediate questions about data governance and e-discovery for companies that use Microsoft 365 and Copilot, say Staci Kaliner, Martin Tully and John Collins at Redgrave.

• 11th Circ. NextEra Ruling Broadens Loss Causation Standard

  

  The Eleventh Circuit's recent Jastram v. NextEra Energy decision significantly expands the loss causation standard at the motion-to-dismiss stage and may lead to suits predicated on more tenuous connections between company disclosures and alleged misstatements, say attorneys at Sidley.

• Where 5th Circ. Ruling Fits In ERISA Arbitration Landscape

  

  The Fifth Circuit's recent decision in Parrott v. International Bancshares, holding that an Employee Retirement Income Security Act plan may consent to arbitration, must be understood against the backdrop of a developing body of appellate authority addressing ERISA arbitration, say attorneys at Gibson Dunn.

• Navigating Exclusion Decisions After SEC's No-Action Change

  

  Following the U.S. Securities and Exchange Commission's November changes to the Rule 14a-8 no-action letter process, shareholder proponents have turned to litigation if companies excluded their proposals under the new framework, with three recent cases offering useful lessons for companies navigating exclusion decisions this proxy season, say attorneys at Cleary.

• 5 Different AI Systems Raise Distinct Privilege Issues

  

  A New York federal court’s recent U.S. v. Heppner decision, holding that a defendant’s use of Claude was not privileged, only addressed one narrow artificial intelligence system, but lawyers must recognize that the spectrum of AI tools raises different confidentiality and privilege questions, says Heidi Nadel at HP.

• Opinion

  AI-Assisted Arbitration Needs Safeguards To Ensure Fairness

  

  As tribunals and arbitral institutions increasingly use artificial intelligence tools in their decision-making processes, ​​​​​​​clear disclosure standards and procedural safeguards are necessary to ensure that efficiency gains do not erode the fairness principles on which arbitration depends, says Alexander Lima at Wesco International.

• How Del. High Court's Moelis Reversal Fits Into DExit Debate

  

  By declining to decide the facial validity of the provisions at issue in Moelis & Co. v. West Palm Beach Firefighters Pension Fund, the Delaware Supreme Court's recent reversal of the Court of Chancery's 2024 ruling highlights broader implications for the ongoing debate over whether companies should incorporate elsewhere, say attorneys at Akin.

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  Playing Piano Makes Me A Better Lawyer

  

  Playing piano and practicing law share many parallels relating to managing complexity: Just as hearing an entire musical passage in my head allows me to reliably deliver the message, thinking about the audience's impression helps me create a legal narrative that keeps the reader engaged, says Michael Shepherd at Fish & Richardson.

• AI-Generated Doc Ruling Guides Attys On Privilege Risks

  

  A New York federal court's ruling, in U.S. v. Heppner, that documents created by a defendant using an artificial intelligence tool were not privileged, can serve as a guide to attorneys for retaining attorney-client or work-product privilege over client documents created with AI, say attorneys at Sher Tremonte.

• The Law Firm Merger Diaries: Leadership Strategy After Day 1

  

  For law firm leaders, ensuring a newly combined law firm lives up to its promise, both in its first days of operation and well after, includes tough decisions, clear and specific communication, and cheerleading, says Peter Michaud at Ballard Spahr.