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Compliance
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May 24, 2024
House Lawmakers Want New Hearing With FDIC's Gruenberg
Federal Deposit Insurance Corp. Chair Martin Gruenberg is scheduled to appear before the U.S. House Financial Services Committee to answer questions about the damning findings of a probe of the FDIC's workplace culture.
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May 24, 2024
Florida Urges Quick Appeal Of Wetlands Permitting Decision
The state of Florida has pushed to expedite its appeal of a lower court ruling that stripped the state of its federally delegated authority to permit wetlands development after the D.C. Circuit declined to pause the ruling's implementation earlier this week.
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May 24, 2024
Realtors Want Case Over 'Cooperation' Rule To Stay Dismissed
The National Association of Realtors urged a California federal court not to reconsider dismissing a case targeting rules that prevent real estate agents from listing properties outside their affiliated networks, after the case took a trip to the Ninth Circuit.
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May 24, 2024
Moelis-Inspired Corporate Law Bill Introduced In Del.
Proposed amendments to Delaware's corporate code that some say could potentially upend the traditional power structure within corporations were introduced in Delaware's Legislature, despite outcry from many academics, corporate law attorneys, and some business groups that the changes are going too far, too fast.
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May 24, 2024
Judge Finds Cannabis Tracking Suit Targeted Wrong Agency
A Colorado maker of cannabis edibles lost its bid to block state marijuana regulators from requiring that cannabis companies buy inventory trackers made by Florida-based Metrc, a nationwide vendor of such tags, when a state judge ruled that the edibles-maker sued the wrong agency.
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May 24, 2024
CFTC's Johnson Is Under Consideration For FDIC Top Job
The Biden administration is considering Kristin Johnson, a Democratic member of the U.S. Commodity Futures Trading Commission, as a possible candidate to replace Martin Gruenberg at the helm of the Federal Deposit Insurance Corp., Law360 has learned.
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May 24, 2024
Biden's Judicial Impact And What's Left On The Wish List
President Joe Biden secured confirmation of his 200th federal judge Wednesday and has transformed the judiciary by picking more women and people of color than any other president. But the upcoming election season could derail his hopes of confirming many more judges.
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May 24, 2024
Software-Aided Price Fixing Under Antitrust Assault
Claims that companies in the same industry are using software middlemen to fix prices are percolating in federal courts around the country, with cases targeting major operators in residential real estate, hospitality and health insurance, among other areas.
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May 24, 2024
NYSE Companies Could Face Heat If Business Focus Changes
A New York Stock Exchange proposal seeking additional authority to delist companies that enact wholesale business changes after going public could subject certain companies to more scrutiny, attorneys say, though such drastic actions are expected to be rare.
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May 24, 2024
Feds' Probe Into Waymo Self-Driving Car Finds More Incidents
The U.S. auto safety regulator has said it found nine additional incidents of Waymo LLC autonomous vehicles exhibiting "unexpected driving behaviors" and has asked the company for more information as part of a new investigation.
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May 24, 2024
EPA Denies Ala. Coal Ash Management Program Application
The U.S. Environmental Protection Agency has issued a final decision denying Alabama's application to run a federally approved permit program to manage coal ash landfills and impoundments, saying the state's permit program doesn't meet federal standards for protecting people and waterways.
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May 24, 2024
English Soccer Org. Accuses Player Of Gambling Breaches
The English Football Association has lodged charges of misconduct against West Ham United FC's Lucas Paqueta for allegedly trying to affect the outcome of his own games for gambling-related purposes, and for refusing to comply with an investigation into the matter, according to a statement.
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May 24, 2024
FCC Probing Unauthorized Navigation Satellite Signals In US
The Federal Communications Commission is continuing its investigation into U.S. phones receiving unauthorized Russian and Chinese navigation satellite signals, but FCC Chair Jessica Rosenworcel told lawmakers last week that she didn't have much more to share on the inquiry.
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May 24, 2024
Coinbase Says Crypto Securities Question Is Ripe For Review
Crypto exchange Coinbase again urged a Manhattan federal judge to send to the Second Circuit the question of whether digital assets meet the definition of investment contracts, saying the question could "shape or distort a multitrillion-dollar industry."
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May 24, 2024
CFPB Will Ask DC Circ. To Rescue Rule Challenged By PayPal
The Consumer Financial Protection Bureau said Friday it will appeal a Washington, D.C., federal judge's recent decision that sided with payments giant PayPal in its lawsuit challenging the agency's extension of certain prepaid card regulations to digital wallets.
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May 24, 2024
Any Coloradan Can Enforce Open Meetings Law, Panel Says
The Colorado Court of Appeals has sided with an attorney who has filed dozens of open meetings law claims against government bodies in the state, finding that the attorney has standing to sue a school board even though he lives hundreds of miles away.
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May 24, 2024
IRS Corrects Notice On Bonus Energy Tax Credit Safe Harbors
The Internal Revenue Service and U.S. Department of the Treasury issued a correction Friday to a notice providing additional safe harbors that clean energy project developers can use to qualify for bonus tax credits for domestically sourcing their steel and aluminum parts.
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May 24, 2024
DOJ's Live Nation-Ticketmaster Suit: What You Should Know
The U.S. Department of Justice and a slew of state attorneys general filed a suit challenging the 2010 merger of Ticketmaster and Live Nation. Here, catch up on Law360's coverage of the deal and those who have challenged it along the way – Taylor Swift fans, investors and regulators.
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May 23, 2024
CFPB's 1st Try At BNPL Regulation Could Set Stage For More
The Consumer Financial Protection Bureau's new guidance that treats buy-now, pay-later firms more like credit card companies is drawing industry grumbles about "apples to oranges" comparisons, but consumer advocates say that applying additional credit card-esque rules would be the cherry on top.
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May 23, 2024
Entrepreneur Ordered To Pay $15M For Unlicensed Pot Stores
A New York state court hit a cannabis seller with a $15 million judgment Thursday after he was found to be selling marijuana without a license at seven locations inside the state, according to an announcement by the state's attorney general.
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May 23, 2024
FTC Blasts Amazon's 'Unbelievable' Claims About Signal Use
The Federal Trade Commission on Thursday again pressed a Washington federal court to force Amazon to hand over documents regarding the company's communication preservation practices, calling Amazon's claims that executives never used the encrypted app Signal to discuss business practices relevant to the antitrust fight "unbelievable."
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May 23, 2024
Latham, Cravath Rep Live Nation In DOJ Ticketmaster Battle
In the battle against the U.S. Department of Justice's push to break up Live Nation and Ticketmaster, the concert promotion and ticketing company has called upon a team of attorneys at Cravath Swaine & Moore and Latham & Watkins to go up against a large roster of highly experienced government antitrust attorneys.
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May 23, 2024
EU Fines Mondelez €338M For Curbing Snack Competition
The European Commission on Thursday fined U.S.-headquartered multinational snack company Mondelez International Inc. €337.5 million ($365.74 million) for entering into anticompetitive trade agreements with resellers and abusing its position as a chocolate giant to maintain high prices.
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May 23, 2024
Ex-Autonomy CEO Lynch Takes Stand In 'Surreal' Fraud Trial
Autonomy founder Michael Lynch took the stand Thursday in a criminal trial in California federal court over claims he lied to HP about his software company's financial health before the tech giant paid $11.7 billion for it in 2011, saying the trial has been "surreal" and he didn't set out to defraud HP.
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May 23, 2024
Ex-Bank CEO Cops To Embezzling $47M To Pay Crypto Scam
Heartland Tri-State Bank's former chief executive pled guilty Thursday in Kansas federal court to embezzling $47 million that he wired to cryptocurrency accounts controlled by fraudsters after falling victim to a "pig butchering" scam, which led to the bank's collapse and subsequent shutdown last summer.
Expert Analysis
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How New Rule Would Change CFIUS Enforcement Powers
Before the May 15 comment deadline, companies may want to weigh in on proposed regulatory changes to enforcement and mitigation tools at the disposal of the Committee on Foreign Investment in the United States, including broadened subpoena powers, difficult new mitigation timelines and higher maximum penalties, say attorneys at Venable.
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What's Extraordinary About Challenges To SEC Climate Rule
A set of ideologically diverse legal challenges to the U.S. Securities and Exchange Commission's climate disclosure rule have been consolidated in the Eighth Circuit via a seldom-used lottery system, and the unpredictability of this process may drive agencies toward a more cautious future approach to rulemaking, say attorneys at Thompson Coburn.
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8 Questions To Ask Before Final CISA Breach Reporting Rule
The Cybersecurity and Infrastructure Security Agency’s recently proposed cyber incident reporting requirements for critical infrastructure entities represent the overall approach CISA will take in its final rule, so companies should be asking key compliance questions now and preparing for a more complicated reporting regime, say Arianna Evers and Shannon Mercer at WilmerHale.
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Is The Digital Accessibility Storm Almost Over?
Though private businesses have faced a decadelong deluge of digital accessibility complaints in the absence of clear regulations or uniformity among the courts, attorneys at Epstein Becker address how recent federal courts’ pushback against serial Americans with Disabilities Act plaintiffs and the U.S. Department of Justice’s proposed government accessibility standards may presage a break in the downpour.
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PE In The Crosshairs Of Public And Private Antitrust Enforcers
A series of decisions from a California federal court in the recently settled Packaged Seafood Products Antitrust Litigation, as well as heightened scrutiny from federal agencies, serve as a reminder that private equity firms may be exposed to liability for alleged anti-competitive conduct by their portfolio companies, say attorneys at Axinn.
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Series
Swimming Makes Me A Better Lawyer
Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.
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Mid-2024 FCA Enforcement And Litigation Trends To Watch
Reviewing notable False Claims Act trends and enforcement efforts in the last year and a half reveals that healthcare is a key enforcement priority for the U.S. Department of Justice, and the road ahead may bring clarification on Anti-Kickback Statute causation and willfulness standards, along with increased focus on private equity, cybersecurity and self-disclosure, say attorneys at Epstein Becker.
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Key Priorities In FDIC Report On Resolving Big Bank Failures
The Federal Deposit Insurance Corp.'s report last month on the resolvability of large financial institutions contains little new information, but it does reiterate key policy priorities, including the agency's desire to enhance loss-absorbing capacity through long-term debt requirements and preference for single-point-of-entry resolution strategies, say attorneys at Freshfields.
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Justices' Title VII Ruling Requires Greater Employer Vigilance
The U.S. Supreme Court’s recent Muldrow v. St. Louis ruling expands the types of employment decisions that can be challenged under Title VII, so employers will need to carefully review decisions that affect a term, condition or privilege of employment, say attorneys at Morgan Lewis.
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Opinion
SEC Should Be Allowed To Equip Investors With Climate Info
The U.S. Securities and Exchange Commission's new rule to require more climate-related disclosures will provide investors with much-needed clarity, despite opponents' attempts to challenge the rule with misused legal arguments, say Sarah Goetz at Democracy Forward and Cynthia Hanawalt at Columbia University’s Sabin Center for Climate Change.
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8 Fla. Statutes That Construction Cos. Should Prepare For
In this article, Jason Lambert at Hill Ward discusses a number of recent bills out of the Florida Legislature targeting construction companies in the Sunshine State that have been sent to the governor for signature, at least some of which will have broad impacts that affected companies should prepare for ahead of the July 1 effective date.
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Manufacturers Should Pay Attention To 'Right-To-Repair' Laws
Oregon’s recently passed "right-to-repair" statute highlights that the R2R movement is not going away, and that manufacturers of all kinds need to be paying attention to the evolving list of R2R statutes in various states and consider participating in the process, says Courtney Sarnow at Culhane.
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Microplastics At The Crossroads Of Regulation And Litigation
Though there are currently not many federal regulations specifically addressing microplastics as pollutants, regulatory scrutiny and lawsuits asserting consumer protection claims are both on the rise, and manufacturers should take proactive steps to implement preventive measures accordingly, say Aliza Karetnick and Franco Corrado at Morgan Lewis.
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New Federal Bill Would Drastically Alter Privacy Landscape
While the recently introduced American Privacy Rights Act would eliminate the burdensome patchwork of state regulations, the proposed federal privacy law would also significantly expand compliance obligations and liability exposure for companies, especially those that rely on artificial intelligence or biometric technologies, says David Oberly at Baker Donelson.
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How Cos. Can Comply With New PFAS Superfund Rule
The U.S. Environmental Protection Agency's new rule designating two per- and polyfluoroalkyl substances as "hazardous substances" under the Superfund law will likely trigger additional enforcement and litigation at sites across the country — so companies should evaluate any associated reporting obligations and liability risks, say attorneys at Alston & Bird.