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Compliance
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April 18, 2024
OCC Fines Sterling Bank's Ex-CEO And SF Giants Owner
The Office of the Comptroller of the Currency said Thursday that it has issued more fines over a fraud-plagued loan program at Sterling Bank and Trust FSB, ordering a total of $700,000 in penalties for the bank's former CEO and its founder, who is also an owner of the San Francisco Giants.
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April 18, 2024
AT&T, Pittsburgh Settle Dispute Over Cell Site Fees, Delays
The city of Pittsburgh has created a new fee schedule for small wireless communications facilities, which AT&T agreed will resolve the telecom firm's claims that the city effectively prevented its service expansion with its prior fee schedule, according to a joint stipulation filed in Pennsylvania federal court.
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April 18, 2024
AGs, Google Defend $700M Play Store Deal Ripped By Judge
A group of state attorneys general and Google defended the proposed $700 million settlement both sides brokered in the states' antitrust suit against the company in December, telling a San Francisco federal judge that the deal is consistent with Ninth Circuit precedent and releases only a limited set of claims against Google for a seven-year period.
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April 18, 2024
Defense Paints Friend As Snitch In Ex-Ecuador Official's Trial
The defense attorney for former Ecuador comptroller Carlos Ramon Polit Faggioni painted a reinsurer who testified Wednesday against the official as a snitch and turncoat during a federal money laundering trial in Miami, saying he effectively became a government agent to get information that could be used against his friend.
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April 18, 2024
Jury Awards $98M To Wash. Healthcare Workers In Wage Suit
A Seattle jury said Thursday a Washington-based healthcare system should pay thousands of its employees almost $100 million for its illegal timeclock rounding and meal break practices, an award that's expected to be doubled because a judge has already determined that the company's violations were willful.
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April 18, 2024
Missouri AG Launches Probe Into Delta-8 Products
Missouri's Republican attorney general has launched an investigation into four companies purportedly manufacturing or selling vapes and other products containing hemp and marijuana derivatives such as CBD, delta-8 THC and delta-9 THC.
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April 18, 2024
BLM Prioritizes Conservation On Federal Land In Final Rule
The Biden administration finalized a rule Thursday that prioritizes the conservation of federal lands through new initiatives like leasing frameworks that center on restoration and mitigation.
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April 18, 2024
FCC Probing Causes Of 911 Outage Across Four States
The Federal Communications Commission said Thursday it will investigate what caused widespread 911 outages in Nevada, Texas, South Dakota and Nebraska.
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April 18, 2024
Endo Pleads Guilty To Marketing Opioids As 'Crush Proof'
Endo Health Solutions Inc. pled guilty Thursday in Michigan federal court to putting out a drug it falsely advertised as being "crush proof" and "abuse deterrent," part of its larger agreement with the government to resolve nearly $2 billion in civil and criminal claims against the company.
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April 18, 2024
FERC To Reveal Final Grid-Planning Policy Revamp
The Federal Energy Regulatory Commission on Thursday said it would unveil on May 13 the final version of its long-awaited overhaul of how major electric transmission projects are planned and paid for.
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April 18, 2024
Bank Regulators Appeal Texas Judge's Halt Of New CRA Rules
Federal regulators said Thursday that they are appealing a Texas federal judge's decision to block their rollout of new community lending rules amid a legal challenge from the banking industry.
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April 18, 2024
Red States Back Call To Overturn Nasdaq Diversity Rule
Utah and 23 other Republican-led states have filed an amicus brief asking the full Fifth Circuit to vacate a Nasdaq board diversity rule and declare it unconstitutional, saying the U.S. Securities and Exchange Commission, which approved the rule, is "affirmatively perpetuating" race-based discrimination instead of eliminating it.
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April 18, 2024
Mich. AG Slams 'Lackluster' Disclosure Laws At Ethics Hearing
Michigan's attorney general and secretary of state testified on Thursday in support of ethics and transparency bills they say will help to fight "a culture of corruption" in the state's capital days after a former House speaker was charged with misusing state funds.
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April 18, 2024
Ga. Election Spending Case Belonged In State Court, AG Says
Attorneys representing the Georgia Attorney General's Office and a state campaign finance commission urged the Eleventh Circuit on Thursday to overturn a ruling preventing their investigation of election spending by a pair of nonprofits founded by Stacey Abrams, citing the so-called Younger abstention doctrine.
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April 18, 2024
IRS Updates Rates For Foreign Insurance Company Equations
The Internal Revenue Service published updated domestic asset/liability and yields percentages Thursday that foreign life insurance companies as well as foreign property and liability insurance companies need to compute their minimum effectively connected net investment income for tax years starting in 2023.
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April 18, 2024
Admiral Balks At Covering Menendez Ally In Pollution Suit
Admiral Insurance Co. is asking a New Jersey federal court for a declaration that it owes no coverage to a businessman who is a co-defendant in U.S. Sen. Bob Menendez's bribery trial in a decade-long suit by Edgewater Borough over contamination at a construction site.
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April 18, 2024
Ousted Clerk Was A 'Loose Cannon,' NC Justices Told
An attorney who started proceedings that led to the ouster of former Franklin County Clerk of Court Patricia Chastain urged the North Carolina Supreme Court to keep her out of office, arguing that she undermined judicial authority through a series of incidents, including a "vulgar" accidental call to a magistrate judge.
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April 18, 2024
Atty Wants Law Firm Subpoenaed In $12M Somali Fraud Case
A Maryland attorney accused of misappropriating more than $12 million in Somali state assets has asked a federal judge to subpoena his former firm, Shulman Rogers Gandal Pordy & Ecker PA, to produce his employment records.
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April 18, 2024
Sidney Powell Dodges Sanctions From Texas Bar
Embattled Trump attorney Sidney Powell has dodged sanctions from the Texas state bar's disciplinary wing, with a state appellate court ruling Thursday that the Commission for Lawyer Discipline didn't bring enough solid arguments to the table to merit a redo of the case.
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April 17, 2024
Ethics Panel Douses Judge DQ Talk In 5th Circ. CFPB Case
A judicial ethics panel has concluded that recusal isn't automatically required for the Fifth Circuit judge whose financial disclosures have fueled calls for his disqualification from litigation challenging the Consumer Financial Protection Bureau's $8 credit card late fee rule.
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April 17, 2024
Walgreens Investors' $36M Deal In Opioid Suit Gets First OK
An Illinois federal judge on Wednesday granted his initial approval of a $36 million settlement to end a stockholder's derivative suit accusing Walgreens and its leadership of failing to limit retail pharmacies from dispensing unreasonable amounts of opioids.
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April 17, 2024
'Fired Up': House Leaders Say Data Privacy Law Top Priority
House Energy and Commerce Committee leaders said Wednesday that they are "fired up" to finally push long-running efforts to enact a federal data privacy framework across the finish line, although concerns about the scope of the proposal and desires to enhance digital safeguards for children threaten to derail this momentum.
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April 17, 2024
NY Settles With Payroll, Prepaid Card Bank For $700K
Pathward, formerly MetaBank, has reached a $700,000 agreement with New York Attorney General Letitia James to resolve allegations the bank broke the law by freezing certain customer accounts and illegally handing over customer money to debt collectors.
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April 17, 2024
SEC Urged To Rethink Whistleblower Awards To Short-Sellers
A University of Kansas law professor has released research showing that a growing number of corporate outsiders, including short-sellers, are receiving whistleblower rewards from the U.S. Securities and Exchange Commission, and he told Law360 on Wednesday the agency should reconsider giving money to those who also seek to profit from trading on the tips they call in.
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April 17, 2024
Minn. Operator Wants To Stop Casinos' Class III Gambling
The operator of a commercial casino and horse racetrack has sued three tribal-owned casinos in Minnesota federal court on claims they're violating the Racketeer Influenced and Corrupt Organization Act, accusing them of running criminal gambling activities that break state and federal laws.
Expert Analysis
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What Texas Employers Should Know After PWFA Ruling
After a Texas federal judge recently enjoined federal agencies from enforcing the Pregnant Workers Fairness Act against the state of Texas, all employers must still remain sensitive to local, state and federal protections for pregnant workers, and proactive in their approach to pregnancy-related accommodations, says Maritza Sanchez at Phelps Dunbar.
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Opinion
Judicial Independence Is Imperative This Election Year
As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.
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How Harsher Penalties For AI Crimes May Work In Practice
With recent pronouncements from the U.S. Department of Justice that prosecutors may seek sentencing enhancements for crimes committed using artificial intelligence, defense counsel should understand how the sentencing guidelines and statutory factors will come into play, says Jennie VonCannon at Crowell & Moring.
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2nd Circ.'s Binance Locus Test Adds Risk For Blockchain Cos.
The Second Circuit’s recent use of the irrevocable liability test to rule a class action may proceed against decentralized crypto exchange Binance heightens the possibility that other blockchain-based businesses with domestic customers and digital infrastructure will find themselves subject to U.S. securities laws, say attorneys at Holland & Knight.
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Legal Issues When Training AI On Previously Collected Data
Following the Federal Trade Commission's recent guidance about the use of customer data to train artificial intelligence models, companies should carefully think through their terms of service and privacy policies and be cautious when changing them to permit new uses of previously collected data, says James Gatto at Sheppard Mullin.
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Protested CFPB Supervisory Order Reveals Process, Priorities
The Consumer Financial Protection Bureau’s order announcing its first use of special oversight power to place installment lender World Acceptance Corp. under supervision despite resistance from the company provides valuable insight into which products and practices may draw bureau scrutiny, and illuminates important nuances of the risk assessment procedures, say Josh Kotin and Michelle Rogers at Cooley.
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Document Retention Best Practices To Lower Litigation Risks
As new technologies emerge and terabytes of data can be within the purview of a single discovery request, businesses small and large should take four document management steps to effectively minimize risks of litigation and discovery sanctions long before litigation ensues, says Kimbrilee Weber at Norris McLaughlin.
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Series
Riding My Peloton Bike Makes Me A Better Lawyer
Using the Peloton platform for cycling, running, rowing and more taught me that fostering a mind-body connection will not only benefit you physically and emotionally, but also inspire stamina, focus, discipline and empathy in your legal career, says Christopher Ward at Polsinelli.
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The Challenges SEC's Climate Disclosure Rule May Face
Attorneys at Debevoise examine potential legal challenges to the U.S. Securities and Exchange Commission's new climate-related disclosure rule — against which nine suits have already been filed — including arguments under the Administrative Procedure Act, the major questions doctrine, the First Amendment and the nondelegation doctrine.
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Tips For Healthcare M&A Amid Heightened Antitrust Scrutiny
As the Biden administration maintains its aggressive approach to antitrust merger enforcement, prudent healthcare M&A counsel will consider practical advice when contemplating their next transaction, including carefully selecting a merger partner and preparing for a potentially long waiting period prior to closing, say attorneys at Davis Wright.
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New Eagle Take Permit Rule Should Help Wind Projects Soar
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.
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Compliance Steps After ABA White Collar Crime Conference
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.
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Investment Advisers Should Prep For Money Laundering Regs
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.
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Spartan Arbitration Tactics Against Well-Funded Opponents
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.
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What The NIL Negotiation Rules Injunction Means For NCAA
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.