Compliance

  • April 17, 2024

    Judge Merges Axos Bank Suits But Won't Appoint Counsel Yet

    A California federal judge has agreed to consolidate a pair of cases over how Axos handled interest rates on savings deposit accounts offered through an online banking division, but rejected its customers' bid to name three law firms as interim co-lead counsel, saying it is not necessary at this time since more consolidation could occur.

  • April 17, 2024

    Ex-Pharma Exec's Contempt Plea Rejected By Judge

    A Massachusetts federal judge on Wednesday rejected a former pharmaceutical executive's agreement to plead guilty to contempt for using an alias to get around a consent judgment in a U.S. Securities and Exchange Commission fraud case, saying both the former executive and the government knew he'd view the sentence as too low.

  • April 17, 2024

    Ariz. Tribes Lose Bid To Block SunZia Power Line Project

    An Arizona federal judge on Tuesday rejected a request by Native American tribes and environmentalists to block work on SunZia's $10 billion transmission line in a southeastern valley known for its historic and cultural significance, finding that their claims are likely time-barred by a six-year statute of limitations that began in 2015.

  • April 17, 2024

    Elliott Waives BioMarin Board Deal, Moots Del. Suit

    Elliott Investment Management LP has waived an agreement with BioMarin Pharmaceutical Inc. that gave the activist investor three new seats on the biopharmaceutical company's board, mooting a Delaware Chancery Court lawsuit that a BioMarin shareholder filed earlier this month.

  • April 17, 2024

    NBA Bans Raptors' Porter For Life For Betting Violations

    The NBA handed down a lifetime ban to Toronto Raptors forward Jontay Porter on Wednesday for violating its gambling rules, including placing bets on his own team's games and limiting his own performance to deliver wins to outside bettors.

  • April 17, 2024

    Justices Ease Pathway For Title VII Suits Over Job Transfers

    The U.S. Supreme Court ruled Wednesday that Title VII of the Civil Rights Act prohibits discriminatory job transfers even if they don't come with significant harm, a declaration that clears the way for more workplace bias suits to move ahead.

  • April 16, 2024

    Pro-Israel Fart Sprayer Sues Columbia Univ. Over Suspension

    A Jewish Columbia University student on Tuesday lobbed discrimination claims at the university, which he said unfairly suspended him for spraying non-toxic fart spray at a protest over the Israeli-Palestinian conflict, a move he said was designed to "silence" him for his views.

  • April 16, 2024

    House Panel Takes Aim At Change Healthcare, FTC Over Hack

    A House subcommittee exploring ways to boost cybersecurity in the healthcare industry on Tuesday blasted Change Healthcare for failing to take appropriate steps to block a damaging cyberattack that echoed another recent strike on critical infrastructure and the Federal Trade Commission for not stopping the provider from controlling such a large market share. 

  • April 16, 2024

    Autonomy CEO Pressured JPMorgan Over Analyst, Jury Told

    An ex-JPMorgan stock analyst testifying Tuesday in the criminal fraud trial of former Autonomy CEO Michael Lynch told jurors that the software company founder responded with hostility when his research reports questioned its growth, and that Lynch offered JPMorgan millions in business if he were taken off the Autonomy beat.

  • April 16, 2024

    Split 5th Circ. Won't Rehear Case Over Agency Protections

    A divided Fifth Circuit on Tuesday denied en banc rehearing of a panel decision that likely sets up a U.S. Supreme Court challenge of long-standing limits to the president's power to fire executive branch subordinates.

  • April 16, 2024

    Cooperation Helped Cable Co. Avoid Prosecution, Feds Say

    The U.S. Department of Justice's fraud section has indicated it won't prosecute Proterial Cable America for allegedly fraudulently misrepresenting the safety standards compliance of its motorcycle brake hose assemblies because of the company's timely self-disclosure, cooperation and remediation, among other things.

  • April 16, 2024

    Cashed Check Kills VW Emissions Deal Appeal, 9th Circ. Says

    The Ninth Circuit on Tuesday threw out an attempt to unravel an $80 million deal resolving consolidated consumer litigation alleging Volkswagen and Porsche manipulated emissions and fuel-economy tests for nearly 500,000 gas-powered vehicles, saying the objector has already cashed his portion of the settlement.

  • April 16, 2024

    Corp. Transparency Act A Valid Use Of Powers, 11th Circ. Told

    The U.S. Department of Treasury told the Eleventh Circuit that a federal district court erred in finding the Corporate Transparency Act unconstitutional, saying the lower court misunderstood the law's scope and relation to efforts to curb financial crime.

  • April 16, 2024

    'Wide As The Ocean': Apple Judge Pans Investor Deal Release

    A California federal judge declined Monday to preliminarily approve Apple's nonmonetary settlement in a derivative-shareholder suit over claims it secretly slowed iPhones, criticizing the deal's release of claims that "relate" to the case as overbroad and noting that, "in practice, lawyers argue that 'relate' is as wide as the ocean."

  • April 16, 2024

    Justices Asked To Review Texas' Online Porn Age Check Law

    Texas' law requiring all visitors to adult-oriented websites to prove their age before accessing the content is unconstitutional under the First Amendment, a trade group for the pornography industry told the U.S. Supreme Court, seeking to overturn a split Fifth Circuit decision that allowed the age-verification requirement to go into effect.

  • April 16, 2024

    BofA Draws Scorn From Republican AGs Over 'De-Banking'

    Republican state attorneys general are calling out Bank of America over what they claim has been its discriminatory account closures of Christian religious groups and hostile treatment of conservative customers, allegations the banking giant strongly denies.

  • April 16, 2024

    NC Treasurer Backs FTC On Hospital Merger Challenge

    North Carolina's treasurer agreed Monday that Novant Health's $320 million plan to pick up a pair of hospitals is a bad idea, throwing its weight behind the Federal Trade Commission's challenge to the deal in federal court.

  • April 16, 2024

    DC Circ. Grills EPA On Nixing Refiners' Biofuel Exemptions

    A D.C. Circuit panel seemed open Tuesday to petroleum refiners' challenge to federal regulators' denial of their exemptions to federal renewable fuel requirements, as the judges grilled attorneys for the U.S. Environmental Protection Agency on how federal regulators gauge refineries' compliance costs.

  • April 16, 2024

    Vineyard Wind Urges 1st Circ. To Uphold Project Approval

    Developers of an offshore wind energy project near Martha's Vineyard, Massachusetts, on Tuesday urged the First Circuit not to revive a fishing group's legal challenge to the endeavor, arguing the environmental review process was solid.

  • April 16, 2024

    Trump, Insurer Defend $175M Bond In NY AG Case

    Donald Trump and the Delaware insurer that agreed to post the former president's $175 million bond in his civil business fraud case told a Manhattan judge that they have the money in cash, after New York Attorney General Letitia James questioned the sufficiency of the bond.

  • April 16, 2024

    SEC Hit With Class Action Over Database Privacy Concerns

    A conservative think tank filed a lawsuit in Texas federal court Tuesday hoping to put an end to a U.S. Securities and Exchange Commission market surveillance tool known as the consolidated audit trail, arguing in the proposed class action that the database threatens to subject the personal information of tens of millions of American citizens to a possible data breach.

  • April 16, 2024

    CFPB Moves To 'Streamline' How It Tags Nonbanks For Exams

    The Consumer Financial Protection Bureau on Tuesday unveiled procedural adjustments to its process for singling out fintech firms and other nonbanks for examination, changes the agency attributed in part to plans for an internal reorganization of its supervision and enforcement unit.

  • April 16, 2024

    Feds, PPG Reach $22.8M Deal To Clean Up NJ Superfund Site

    The U.S. Environmental Protection Agency unveiled a settlement with PPG Industries Inc. on Tuesday under which the company has agreed to cough up more than $22.8 million to cover the estimated future cleanup costs and maintenance at the Riverside Industrial Park Superfund Site in Newark, New Jersey.

  • April 16, 2024

    EPA Urges 5th Circ. To Back Win In Texas Air Quality Suit

    U.S. regulators and the Sierra Club urged the Fifth Circuit not to upset a panel's ruling finding the government legally accepted pollution data from the conservation group to apply a poor air quality designation in two Texas counties surrounding a coal-fired power plant.

  • April 16, 2024

    NC Justices Hint Contractor Qualifies For Tax Break

    The North Carolina Supreme Court appeared ready to rule in favor of a contractor seeking a tax exemption reserved for manufacturers, with the justices concerned that hinging qualification on a sales percentage flouts the language of the applicable law.

Expert Analysis

  • New Eagle Take Permit Rule Should Help Wind Projects Soar

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    The U.S. Fish and Wildlife Service's recently issued final rule revising the eagle take permit process should help wind energy developers obtain incidental take permits through a more transparent and expedited process, and mitigate the risk of improper take penalties faced by wind projects, says Jon Micah Goeller at Husch Blackwell.

  • Compliance Steps After ABA White Collar Crime Conference

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    Senior law enforcement officials’ statements this month at the American Bar Association's white collar crime conference suggest government enforcement efforts this year will increasingly focus on whistleblower incentives, artificial intelligence and data protection, and companies will need to update their compliance programs accordingly, say attorneys at Baker McKenzie.

  • Investment Advisers Should Prep For Money Laundering Regs

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    Investment advisers should prepare for a Financial Crimes Enforcement Network proposed rule that would significantly expand anti-money laundering and counter-financing of terrorism obligations by assessing illicit financing risks, and expect examiners to scrutinize unregistered advisers and those with certain foreign clients, say attorneys at Paul Weiss.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • What The NIL Negotiation Rules Injunction Means For NCAA

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    A Tennessee federal court's recent preliminary injunction reverses several prominent and well-established NCAA rules on negotiations with student-athletes over name, image and likeness compensation and shows that collegiate athletics is a profoundly unsettled legal environment, say attorneys at Pillsbury.

  • Md. May See Vigorous Resale Price Maintenance Enforcement

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    In Maryland, indications of a new focus on resale price maintenance agreements are significant because state prosecution in this area has been rare, particularly outside California, say attorneys at DLA Piper.

  • What 2 Years Of Ukraine-Russia Conflict Can Teach Cos.

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    A few key legal lessons for the global business community since Russia's invasion of Ukraine could help protect global commerce in times of future conflict, including how to respond to disparate trade restrictions and sanctions, navigate war-related contract disputes, and protect against heightened cybersecurity risks, say attorneys at Morgan Lewis.

  • Takeaways From EPA's New Methane Emission Rules

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    Attorneys at V&E examine two new Clean Air Act rules for the oil and gas industry, explaining how they expand methane and volatile organic compound emission reduction requirements and amplify U.S. Environmental Protection Agency enforcement risks.

  • EEOC Case Reminds That Men Can Also Claim Pay Bias

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    The Maryland State Highway Administration recently settled U.S. Equal Employment Opportunity Commission claims that a male employee was paid less than his female colleagues, highlighting why employers should not focus on a particular protected class when it comes to assessing pay bias risk, say Barbara Grandjean and Audrey Merkel at Husch Blackwell.

  • How AI May Be Used In Fintech Fraud — And Fraud Detection

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    Recent enforcement actions in the fintech and finance industries show that the government is increasingly pursuing fraud enabled by artificial intelligence — at the same time it’s using AI innovations to enforce regulations and investigate fraud, say attorneys at ArentFox Schiff.

  • Antitrust Enforcers' Views On Info Exchanges Are Evolving

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    As antitrust enforcers' views on information exchanges between competing companies have matured in response to technological advances, companies would do well to reconsider whether the exchanges in which they participate meet the most recent compliance benchmarks, say attorneys at Norton Rose.

  • Takeaways From NLRB Advice On 'Outside' Employment

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    Rebecca Leaf at Miles & Stockbridge examines a recent memo from the National Labor Relations Board’s Division of Advice that said it’s unlawful for employers to restrict secondary or outside employment, and explains what companies should know about the use of certain restrictive covenants going forward.

  • FARA Enforcement May Soon Be In The Halls Of Higher Ed

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    Given Congress’ increased attention to rising foreign influence on U.S. college campuses, the U.S. Department of Justice may soon turn the Foreign Agents Registration Act spotlight on educational institutions and groups, which will need to review their possible obligations under the statute, says Tessa Capeloto at Wiley.

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • How FinCEN Proposal Expands RE Transaction Obligations

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    Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.

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