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Compliance
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April 29, 2024
Google Hit With Copyright Claims Over AI Image Generator
A group of visual artists has filed a proposed class action claiming Google's text-to-image artificial intelligence tool Imagen is trained by copying "enormous amounts" of artists' copyrighted works without authorization, the latest suit challenging the use of vast datasets for AI training.
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April 29, 2024
5th Circ. Urged To Block CFPB's Credit Card Late Fee Rule
Banking industry trade groups have called for the Fifth Circuit to act quickly to put the Consumer Financial Protection Bureau's $8 credit card late fee standard on hold, arguing that large credit card issuers stand to suffer "substantial" losses if it goes into effect even for just one day.
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April 29, 2024
9th Circ. Upholds NRC's Exemption For Diablo Canyon Plant
A Ninth Circuit panel ruled Monday that the U.S. Nuclear Regulatory Commission did not act arbitrarily or capriciously when it allowed Pacific Gas & Electric Co. to belatedly renew its license to continue operating California's last remaining nuclear power plant.
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April 29, 2024
TD Ameritrade Fined $600K Over Flawed Automated Approvals
TD Ameritrade Inc. has agreed to pay a $600,000 fine to the Financial Industry Regulatory Authority, which alleged the online stock trading platform relied on an inadequate automated approval system for options trading that allowed risk-prone customers to be approved for certain trades despite red flags.
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April 29, 2024
Meta Seeks Pause On Privacy Appeal For High Court Ruling
Meta urged the D.C. Circuit on Monday to pause the company's appellate efforts to block the Federal Trade Commission from pursuing changes to a $5 billion privacy settlement, asking the appeals court to wait for an impending U.S. Supreme Court ruling on a similar case involving the U.S. Securities and Exchange Commission.
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April 29, 2024
High Court Uncertainty Stalls SEC Case Against Marcum CPA
The U.S. Securities and Exchange Commission has agreed to stay an in-house proceeding against a partner at accounting firm Marcum LLP accused of failing to properly oversee public company audits, saying that an impending U.S. Supreme Court ruling could call into doubt the agency's ability to fine the accountant.
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April 29, 2024
Target, Grubhub Say Visa, Mastercard Fee Deal Is A Scam
Visa and Mastercard's settlement to slash their merchant fees by some $30 billion over the next several years has no fans in Target and Grubhub, who told the judge overseeing the long-running antitrust litigation that the deal isn't fair to anyone except the credit titans.
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April 29, 2024
Texas Judge Says X Can Access Watchdog's Internal Docs
A Texas federal judge has ruled that X Corp. can access the internal communications and donor lists of a media watchdog the tech company accused of spurring advertisers to ditch the social media platform, saying the watchdog hadn't shown a good enough reason to pause discovery.
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April 29, 2024
Bookstores Want In On FTC's Antitrust Case Against Amazon
A trade group for bookstores has asked a Washington federal court for permission to intervene in the Federal Trade Commission's antitrust case against Amazon to raise concerns about the e-commerce giant's sale of books and contracts with publishers.
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April 29, 2024
UnitedHealth's Cyberattack Response Is 'Inadequate,' AGs Say
Nearly two dozen state attorneys general urged UnitedHealth Group and its subsidiary Change Healthcare "to do more" to address the fallout from a February cyberattack by Russian ransomware group Blackcat that breached their systems and services, noting their response efforts to the outage "have been inadequate."
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April 29, 2024
Don't Put Cable 'Junk Fee' Rules On Biz Services, FCC Told
Cable providers are asking the Federal Communications Commission to leave business services out of the commission's plans to end cable "junk fees," saying that doing otherwise would jeopardize lower rates negotiated by the businesses.
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April 29, 2024
GSA Guides Agencies On Responsible Generative AI Buying
The U.S. General Services Administration on Monday issued guidance to federal agencies for buying generative artificial intelligence services and related hardware, intended to ensure that emerging technology is used "responsibly and effectively."
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April 29, 2024
Court Can Make Widow Pull $2.5M From Swiss Bank, US Says
A Colorado federal court can force a widow to send $2.5 million from a Swiss bank to the U.S. to repay her late husband's penalties and interest for failing to report his foreign accounts, the U.S. told the court.
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April 29, 2024
US, Tribes Defend Water Rule Against States', Biz Groups' Suit
The federal government and several Native American tribes on Friday asked a North Dakota federal judge to toss a lawsuit by two dozen states challenging a rule defining the reach of the Clean Water Act's jurisdiction.
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April 29, 2024
Singapore Tech Co. To Pay FTC $1.17M In Mask False Ad Suit
The Federal Trade Commission has inked a $1.17 million deal with Singaporean American company Razer Inc. and its affiliates to resolve claims that it falsely advertised its "Zephyr" air purifier masks as being equivalent to N95 face masks.
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April 29, 2024
'Tornado Cash' Crypto Fraud Wasn't Free Speech, Feds Say
The founder of the Tornado Cash cryptocurrency exchange is mistaken in his arguments that First Amendment protections on computer code are grounds to dismiss his money laundering and sanctions-dodging charges, prosecutors told a Manhattan federal judge.
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April 29, 2024
HHS Delays Menthol Cigarette Ban Indefinitely
U.S. Secretary of the Department of Health and Human Services Xavier Becerra said Friday that a proposed ban on menthol cigarettes has been put on hold for now, citing the need to process considerable feedback from civil rights groups and the criminal justice movement.
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April 29, 2024
Amid Backlash, FDA Extends Control For Lab-Developed Tests
The U.S. Food and Drug Administration inked a final rule Monday that gives the agency broad authority over lab-developed tests by classifying them as medical devices, a move that has drawn ire from congressional leadership and those in the healthcare and life sciences industries.
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April 29, 2024
Catching Up With Delaware's Chancery Court
A multibillion-dollar Tesla trust proposal, a Truth Social bond, power plays over Prince's estate, and three in the ring for World Wrestling Entertainment. All of this and much more came up in Delaware Chancery Court dockets last week.
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April 29, 2024
FCC Fines Wireless Carriers $195M For Selling Location Data
The country's top wireless carriers face fines totaling almost $200 million from the Federal Communications Commission after a yearslong probe into the companies' sales of user location data to third parties.
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April 29, 2024
AI Pharma Co. Sued By Investor Over Handling Of Fired CEO
Artificial intelligence-driven pharmaceutical company Exscientia PLC has been hit with a proposed class action alleging its former CEO engaged in inappropriate personal relationships with employees, and that the company's chairman knew but concealed it.
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April 29, 2024
No Need To Delay $811M Immigrant Bond Co. Fine, CFPB Says
The Consumer Financial Protection Bureau told a Virginia federal judge that there is no need to hold off fining a bonding company $811 million for predatory bonding practices, saying the company's fear of collapse is mooted by a recent sale.
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April 29, 2024
Builders Say State Rulemaking At Stake In Mich. PFAS Case
A homebuilders' group has backed industrial giant 3M in urging the state's highest court to preserve a lower court ruling wiping out limits on forever chemicals, with a trade group official saying the decision could affect other state agency rulemaking.
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April 29, 2024
StarKist Looks To Block Guilty Plea From Price-Fixing Trial
StarKist and its South Korea-based owner are urging a California federal judge to reject a bid by packaged tuna buyers to bring evidence of the tuna company's guilty plea into the civil litigation, arguing that the plea agreement with the U.S. Department of Justice is irrelevant to a trial over claims that major tuna brands conspired to keep prices high.
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April 29, 2024
Connecticut Quarry Crushed By Politics Gets Extra $1.2M
The town of East Haven, Connecticut, and two former officials must pay an additional $1.2 million to a rock quarry that was forced to shutter due a purported political maneuver ahead of the 2017 mayoral race, on top of an existing award of $9.46 million in damages for lost profits, a federal judge has ruled.
Expert Analysis
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Consumer Privacy Takeaways From FTC Extraterritorial Action
With what appears to be its first privacy-related consent agreement with a non-U.S. business, the Federal Trade Commission establishes that its reach is extraterritorial and that consumer internet browsing data is sensitive data, and there are lessons for any multinational business that handles consumer information, say Olivia Greer and Alexis Bello at Weil.
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Assessing Work Rules After NLRB Handbook Ruling
The National Labor Relations Board's Stericycle decision last year sparked uncertainty surrounding whether historically acceptable work rules remain lawful — but employers can use a two-step analysis to assess whether to implement a given rule and how to do so in a compliant manner, say attorneys at Seyfarth.
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FDIC Bank Merger Reviews Could Get More Burdensome
Recently proposed changes to the Federal Deposit Insurance Corp. bank merger review process would expand the agency's administrative processes, impose new evidentiary burdens on parties around competitive effects and other statutory approval factors, and continue the trend of long and unpredictable processing periods, say attorneys at Simpson Thacher.
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Series
Whitewater Kayaking Makes Me A Better Lawyer
Whether it's seeing clients and their issues from a new perspective, or staying nimble in a moment of intense challenge, the lessons learned from whitewater kayaking transcend the rapids of a river and prepare attorneys for the courtroom and beyond, says Matthew Kent at Alston & Bird.
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GSA's Carbon-Free Power Plan: Tips For Electricity Suppliers
The U.S. General Services Administration's recent request for information concerning its intent to acquire a large amount of carbon pollution-free electricity over the next decade in the PJM Interconnection region offers key insights for companies interested in becoming electric power suppliers to federal government agencies, say Shaunna Bailey and Nicholas Dugdale at Sheppard Mullin.
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3 Lessons From Family Dollar's Record $41.7M Guilty Plea
Family Dollar's recent plea deal in connection with a rodent infestation at one of its distribution facilities — resulting in the largest ever monetary criminal penalty in a food safety case — offers key takeaways for those practicing in the interconnected fields of compliance, internal investigations and white collar defense, says Jonathan Porter at Husch Blackwell.
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This Earth Day, Consider How Your Firm Can Go Greener
As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.
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SEC Climate Rules Create Unique Challenges For CRE
The U.S. Securities and Exchange Commission's recently adopted final rules concerning climate-related disclosures for public companies are likely to affect even real estate companies that are not publicly traded, since they may be required to provide information to entities that are subject to the rules, says Laura Truesdale at Moore & Van Allen.
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New Proposal Signals Sharper Enforcement Focus At CFIUS
Last week's proposed rule aimed at broadening the Committee on Foreign Investment in the United States' enforcement authority over foreign investments and increasing penalties for violations signals that CFIUS intends to continue expanding its aggressive monitoring of national security issues, say attorneys at Kirkland.
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4 Ways AI Tools Can Improve Traditional Merger Analyses
Government officials at the American Bar Association's annual antitrust spring meeting last week reinforced the view that competition cases will increasingly rely on sophisticated data analysis, so companies will likewise need to use Big Tech quantitative techniques to improve traditional merger analyses, say Patrick Bajari, Gianmarco Calanchi and Tega Akati-Udi at Keystone.
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What FinCEN Proposed Customer ID Number Change Means
The Financial Crimes Enforcement Network's recent request for comment on changing a requirement for banks to collect full Social Security numbers at account sign-up represents an important opportunity for banks to express their preferability, as communicating sensitive information online may carry fraud or cybersecurity risks, say attorneys at Crowell & Moring.
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Oracle Ruling Underscores Trend Of Mootness Fee Denials
The Delaware Chancery Court’s recent refusal to make tech giant Oracle shoulder $5 million of plaintiff shareholders' attorney fees illustrates a trend of courts raising the standard for granting the mootness fee awards once ubiquitous in post-merger derivative disputes, say attorneys at Troutman Pepper.
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Traversing The Web Of Nonjudicial Grievance Mechanisms
Attorneys at Covington provide an overview of how companies can best align their environmental and human rights compliance with "hard-law" requirements like the EU's recently approved Corporate Sustainability Due Diligence Directive while also navigating the complex global network of existing nonjudicial grievance mechanisms.
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Benzene Contamination Concerns: Drugmakers' Next Steps
After a citizen petition to the U.S. Food and Drug Administration and a flurry of class actions over benzene contamination in benzoyl peroxide acne products, affected manufacturers should consider a thoughtful approach that includes assembling internal data and possibly contacting the FDA for product-specific discussions, say attorneys at Morgan Lewis.
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An NYDFS-Regulated Bank's Guide To Proper Internal Audits
As certification deadlines for compliance with the New York State Department of Financial Services’ transaction monitoring and cybersecurity regulations loom, lawyers should remember that the NYDFS offers no leeway for best efforts — and should ensure robust auditing and recordkeeping processes for clients, say attorneys at Arnall Golden.