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Compliance
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May 13, 2025
FINRA Fines Goldman $1.4M Over Faulty CAT Data Reports
Goldman Sachs & Co. LLC has agreed to pay $1.45 million to settle Financial Industry Regulatory Authority claims that it failed to properly report data for billions of stock market trades, according to a filing posted by FINRA on Tuesday.
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May 13, 2025
Feds Say Crypto Developer's Money Transmitter Suit Isn't Ripe
The U.S. Department of Justice urged a Texas federal judge to cut through a lawsuit seeking to protect forthcoming crypto crowdfunding software from an enforcement action, arguing the software developer's purported business plan stands apart from the DOJ's crypto money transmission prosecutions.
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May 13, 2025
X Says Elon Musk Can't Sit For Media Matters Deposition
X Corp. told a Texas federal judge that left-leaning watchdog Media Matters for America cannot make billionaire CEO Elon Musk sit for a deposition in X's disparagement suit, saying Musk lacks specific knowledge about the case and is "one of the busiest men on the planet."
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May 13, 2025
DOJ Antitrust Deputy Says Gov't 'Out-Lawyered' Google
The deputy head of the U.S. Justice Department's Antitrust Division took a victory lap Tuesday after dual monopolization wins over Google's search and advertising technology businesses, citing the cases as proof that the government's attorneys can win in a "David versus Goliath" battle.
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May 13, 2025
Gov't To Restore Climate Webpages After Lawsuit Pressure
The U.S. Department of Agriculture is reversing course and has committed to restore climate change-focused webpages that were taken offline following the January presidential inauguration, according to a court filing in a lawsuit from environmental groups challenging the removals.
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May 13, 2025
Health Co. Elevance Faces Suit Over Post-COVID Costs Claims
Health insurance provider Elevance Health Inc. and some of its executives face a proposed investor class action alleging the company hurt shareholders by mismanaging expectations about its Medicaid business's costs amid the post-pandemic eligibility redetermination process in certain markets it served.
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May 13, 2025
FTC Remains Concerned With Merger 'Underenforcement'
A Federal Trade Commission official emphasized Tuesday that Trump administration merger enforcers are worried about taking insufficient action against tie-ups, as they stand by Biden-era guidelines meant to enshrine a more aggressive tack against corporate concentration.
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May 13, 2025
Intel Schemed To Duck $1B In Mobileye Losses, Investors Say
Intel Corp. used its position as Mobileye Global's controlling shareholder and fiduciary to strategically offload $1.6 billion in stock ahead of an announcement that tanked stock prices, according to a shareholder derivative suit filed Monday in Delaware Chancery Court.
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May 13, 2025
Google Spars With AGs Over Impact Of DOJ Ad Tech Ruling
Google is telling a Texas federal judge that its recent ad tech trial loss to the U.S. Department of Justice in the Eastern District of Virginia should have no bearing on the similar case brought in Texas by state attorneys general because the Virginia ruling is not yet final.
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May 13, 2025
SEC Says Ex-Pot Co. CFO Can't Cite Atty Advice As Shield
The U.S. Securities and Exchange Commission told a New York federal judge that a former executive of cannabis company Acreage Holdings Inc. accused of falsifying the company's financials cannot allege he was relying on advice from attorneys without forgoing the attorney-client privilege that would shield those communications.
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May 13, 2025
Snap Denies It Caused Users' Fentanyl Overdose Deaths
Snap has hit back at dozens of claims by parents of children who suffered fatal overdoses from fentanyl-laced pills acquired through the social media platform, saying many had a history of drug use, were themselves dealers or acquired drugs through other means.
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May 13, 2025
Ski Resort Owner Offers Alternative Fixes After Antitrust Loss
A New York ski resort operator is offering alternative remedies for a state court to consider after it found the owner violated antitrust law by acquiring a rival ski operation and shutting it down, despite a call from enforcers for a sale of the property to another operator.
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May 13, 2025
Judge Won't Limit Foreign Aid Freeze Injunction
A D.C. federal judge on Tuesday declined to commit to lifting part of a preliminary injunction requiring President Donald Trump's administration to release funding for foreign aid work done before Feb. 13, saying a recent U.S. Supreme Court decision does not change the analysis of his ruling.
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May 13, 2025
Target Slapped With Class Action Over IPhone Warranties
Target Corp. is facing a proposed class action alleging it misled cellphone buyers about who is responsible for repairs, how much repairs cost and the warranty terms for its phones.
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May 13, 2025
Lawsuit Challenging Trump Energy Order May Be Premature
States may have good reasons to fight President Donald Trump's declaration of a national energy emergency, but courts may be unwilling to evaluate the strength of a new suit from 15 states in the absence of expedited energy project approvals.
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May 13, 2025
FTC Says It Won't Enforce 'Click To Cancel' Until July
The Federal Trade Commission, currently only staffed with Republicans following President Donald Trump's firing of the remaining two Democratic commissioners, has decided to pump the brakes on its plan to start enforcing the agency's new "click to cancel" rule this month.
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May 13, 2025
Planned Parenthood Wants Teen Program Fund Rule Blocked
Planned Parenthood on Monday urged a D.C. federal judge to vacate the U.S. government's "unlawful" requirements to "align" with President Donald Trump's executive orders lest risk losing Teen Pregnancy Prevention Program funding, arguing its facilities will suffer staff cuts and loss of medically accurate, age-appropriate education services absent an injunction.
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May 13, 2025
Watchdog Demands Info In DC Court On Dead ICE Detainees
U.S. Immigration and Customs Enforcement is violating public records laws by refusing to turn over documents related to three people who died in ICE custody at two detention centers in Florida and Arizona, a government watchdog group alleged in a suit filed in D.C. federal court Monday.
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May 13, 2025
Cannabis Water Co. Escapes $10M Fraud Charges With DPA
A cannabis-infused beverage maker on Tuesday inked a deferred prosecution agreement to resolve charges over its alleged role in a $10 million pump-and-dump scheme, with the deal including compliance provisions but no monetary penalty.
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May 13, 2025
NIH Letters Ending Grants Lack Factual Support, Judge Says
A Massachusetts federal judge said Tuesday that a "blast" of hundreds of virtually identical letters in March canceling National Institutes of Health-funded research projects appeared to offer no factual basis, only unsupported assertions that the projects were unscientific or discriminatory.
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May 13, 2025
The Man Who Ended Affirmative Action Is Just Getting Started
Nearly two years after the U.S. Supreme Court struck down affirmative action in college admissions, the legal strategist who brought the landmark case is using the ruling in a bid to end race-based programs in the public and private sectors, bolstered by allies in the executive branch.
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May 13, 2025
Fox Nabs Smartmatic Bribery Probe Docs In Defamation Case
A New York state appeals court on Tuesday ordered Smartmatic to give Fox News documents related to a federal investigation into allegations that executives of the election systems company bribed officials in the Philippines, ruling the materials are "plainly relevant" to the network's defense against defamation claims.
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May 13, 2025
Trade Court Panel Looks Askance At Trump Tariff Justification
A U.S. Court of International Trade panel expressed skepticism Tuesday that the emergency law President Donald Trump is using to impose global tariffs left the determination of an "unusual and extraordinary threat" to be a political rather than legal question.
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May 13, 2025
Investment Firm Drops 2 Counts From $70M Client Poach Suit
Connecticut investment firm TJT Capital Group LLC has agreed to drop a Computer Fraud and Abuse Act count and a common-law trade secrets misappropriation claim from a lawsuit accusing a chief compliance officer of taking $70 million in assets under management with him when he left for a new job.
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May 13, 2025
1st Circ. Urged To Rule In Appeal Over Canceled HUD Grants
Groups challenging Trump administration cuts to $30 million in housing grants asked the First Circuit to rule that a Massachusetts federal judge, in fact, has the power to order federal officials to fund the grants, even after the judge dissolved such a ruling in reaction to a recent U.S. Supreme Court finding.
Expert Analysis
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New Anti-Corruption Task Force Bolsters Int'l Collaboration
The recent creation of an anti-corruption task force by the U.K., France and Switzerland demonstrates a commitment to tackling bribery within national and international frameworks, and organizations within these jurisdictions’ remit, including U.S. companies operating in Europe, should review their compliance practices to ensure they address diverging requirements, say lawyers at Skadden.
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A Close Look At The Rescinded Biden-Era NLRB Memos
National Labor Relations Board acting general counsel William Cowen's recent decision to rescind several guidance memoranda from his predecessor signals that he aims to move the board away from expanding organizing rights and to provide more room for employers to protect their operations and workforce, say attorneys at Holland & Knight.
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4 Takeaways From La. Coastal Wetland Damage Verdict
A recent $745 million verdict in a case filed by a Louisiana parish against Chevron for violating a Louisiana environmental law illustrates that climate-related liabilities pose increasing risk and litigation risk may not follow a red state versus blue state divide, say attorneys at ArentFox Schiff.
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Staying The Course On Consumer Financial Law Compliance
Although there may be some regulatory uncertainty, with many rule changes on hold, and enforcement actions and investigations terminated, 11 fundamental laws and rules governing consumer financial services are unlikely to change, say attorneys at K&L Gates.
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10 Soft Skills Every GC Should Master
As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.
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How Proxy Advisory Firms Are Approaching AI And DEI
Institutional Shareholder Services' and Glass Lewis' annual updates to their proxy voting guidelines reflect some of the biggest issues of the day, including artificial intelligence and DEI, and companies should parse these changes carefully, say attorneys at Cahill Gordon.
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6 Criteria Can Help Assess Executive Branch Actions
With new executive policy changes announced seemingly every day, several questions can help courts, policymakers and businesses determine whether such actions are proper, effective and in keeping with our democratic norms, say Marc Levin and Khalil Cumberbatch at the Council on Criminal Justice.
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Reviving A Dormant Criminal Statute In Antitrust Prosecution
The U.S. Department of Justice is poised to revive a dormant misdemeanor statute to resolve bid-rigging charges against a foreign national, providing important context to a recent effort to entice foreign defendants to take responsibility for pending charges or face the risk of extradition, say attorneys at Axinn.
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End May Be In Sight For Small Biz Set-Aside Programs
A Jan. 21 executive order largely disarming the Office of Federal Contract Compliance Programs, along with recent court rulings, suggests that the administration may soon attempt to eliminate set-asides intended to level the award playing field for small business contractors that qualify under socioeconomic programs, say attorneys at Alston & Bird.
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Traversing The Shifting Sands Of ESG Reporting Compliance
Multinational corporations have increasingly found themselves between a rock and a hard place attempting to comply with EU and California ESG requirements while not running afoul of expanding U.S. anti-ESG regimes, but focusing on what is material to shareholder value and establishing strong governance can help, say attorneys at MoFo.
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.
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Ban On Reputation Risk May Help Bank Enforcement Defense
The Comptroller of the Currency and Federal Deposit Insurance Corp.’s recent commitment to stop examining banks for reputation risk could help defendants in enforcement actions challenge unfavorable assessments and support defendants' arguments for lower civil money penalties, says Brendan Clegg at Luse Gorman.
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Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.
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Keys To Regulatory Diligence In Life Sciences Transactions
Conducting effective regulatory due diligence for life sciences deals requires careful review of a target company's activities, and separate sets of considerations for commercial and pipeline products, says Anna Zhao at GunnerCooke.
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How Plan Sponsors Can Mitigate Risk In PBM Contracts
A recent lawsuit in New York federal court alleges that JPMorgan caused exorbitant prescription costs by mishandling the pharmacy benefit manager arrangement, adding to a growing body of Employee Retirement Income Security Act fiduciary breach litigation and affirming that fiduciaries must proactively manage their healthcare plan vendors, say attorneys at Hall Benefits Law.