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January 15, 2025
SMU Can't Chuck 100-Year Ties To Church, Justices Suggest
Texas Supreme Court justices piled questions on Southern Methodist University over its split with the United Methodist Church, saying during oral arguments Wednesday that the school seemingly used "clever lawyering" over a "hot button political issue" to wrestle control from the church.
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January 15, 2025
Greenberg Traurig Adds 2 Corporate Pros In Texas
Greenberg Traurig LLP is expanding its Texas corporate team, announcing Wednesday it is bringing in a Sheppard Mullin Richter & Hampton LLP dealmaker and a Kirkland & Ellis LLP private equity pro as shareholders in Dallas and Austin, respectively.
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January 15, 2025
Attys Must Show They Obeyed Candor Rule In Shell Discovery
A Delaware federal court has ordered attorneys from Heyman Enerio Gattuso & Hirzel LLP, Wachtel Lipton Rosen & Katz, and White & Case LLP to show why they should not be found in violation of professional conduct rules over their handling of discovery requests while defending corporate clients amid a Shell Chemical LP antitrust proceeding in the Netherlands.
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January 15, 2025
GCs Express Fear Of Giant Verdicts, Expect More Litigation
General counsel in a new survey increasingly fear the rise of "nuclear verdicts" — unexpectedly high jury awards — and they are expressing growing support for the use of artificial intelligence to save resources and spot risk.
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January 15, 2025
SEC Announces Departure Of Top Economist And Accountant
The U.S. Securities and Exchange Commission's chief economist and chief accountant are stepping down, the agency has announced, marking the latest departures given the pending inauguration of President-elect Donald Trump.
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January 15, 2025
Judge Warns DOJ: Settle Burger Forfeiture Suit Or Pay Up
A Michigan federal judge on Tuesday expressed frustration with Justice Department officials' delays in resolving a civil forfeiture action over an alleged $11 million healthcare fraud scheme involving money laundered through Big Boy Restaurant, telling federal prosecutors they have until next week to settle the case or pay the chain's recent legal bills.
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January 15, 2025
Former FDA Official Joins King & Spalding Life Sciences Team
King & Spalding on Wednesday announced that a former U.S. Food and Drug Administration official has joined the firm's government matters and regulation practice group after an eight-year stint at the agency.
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January 15, 2025
Nutter Hires New Partner For Boston Real Estate Team
Law firm Nutter McClennen & Fish LLP has brought on real estate and corporate attorney Matthew E. Lane as a partner for its Boston real estate practice, the firm announced Tuesday.
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January 15, 2025
Amex GBT Blasts Bid To Block $570M Travel Services Deal
American Express Global Business Travel Inc. told a New York federal court Tuesday that the U.S. Department of Justice case seeking to block its planned $570 million purchase of CWT Holdings LLC ignores the competitive landscape of the corporate travel management industry.
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January 15, 2025
Elusive Cognizant Witness Ready To Testify, Gov't Says
A witness from India whose 2023 absence on the brink of the foreign bribery trial of two former Cognizant Technology Solutions Corp. executives set off a lengthy delay is now willing to testify, federal prosecutors said, despite stating they were under no obligation to respond to defense counsel's concerns.
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January 15, 2025
Jackson Lewis Grows In Atlanta With E-Commerce Biz Atty
Jackson Lewis PC has gained a new principal in Atlanta who formerly worked in-house for e-commerce company StockX and previously practiced with Ogletree Deakins Nash Smoak & Stewart PC.
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January 15, 2025
FTC Brings Right-To-Repair Suit Against John Deere
The Federal Trade Commission slapped John Deere with a repair monopoly lawsuit in Illinois federal court Wednesday, adding to proposed class actions alleging the company illegally withholds access to needed repair tools from farmers, even in the face of mounting public pressure.
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January 15, 2025
BitMEX Fined $100M For 5 Years Of Flouting US Banking Law
A Manhattan federal judge slapped BitMEX with a $100 million fine Wednesday, rejecting its suggestion that $110 million of earlier penalties sufficed to punish the offshore crypto exchange for a five-year course of evading U.S. financial controls as it earned $1.3 billion.
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January 15, 2025
Justices Say Nixing Federal Claims Ends Federal Jurisdiction
The U.S. Supreme Court on Wednesday said a proposed class action over alleged mislabeling of prescription dog food was appropriately sent back to state court, holding that once the plaintiff dropped her federal claims, the federal courts no longer had jurisdiction.
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January 14, 2025
Wells Fargo Fights To Drop Officers From Investors' Bias Suit
Wells Fargo & Co. urged a California federal judge Tuesday to free three executives from a derivative lawsuit filed by shareholders claiming the bank's leadership failed to address the company's discriminatory lending and hiring practices, saying there are no allegations that explain why a presuit demand to the board would have been futile.
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January 14, 2025
OCC Fines Ex-Wells Fargo Execs $18.5M For Sales Practices
The Office of the Comptroller of the Currency said Tuesday that it has fined three former Wells Fargo executives a total of $18.5 million for their alleged roles in the banking giant's fake accounts scandal, capping off contested enforcement proceedings against them.
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January 14, 2025
Google, YouTube Can't Escape Suit Over Kids' Data Collection
A California federal judge has refused to release Google and YouTube from a proposed class action accusing them of illegally collecting children's data to generate targeted advertising, while cutting Cartoon Network, DreamWorks, Hasbro Studios and several other owners of popular kid-friendly YouTube channels from the long-running dispute.
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January 14, 2025
Enbridge Beats Ducere's Oil Transport Antitrust Suit
Enbridge Inc. beat Ducere LLC's suit accusing it of killing a pipeline terminal project to maintain its monopoly over crude oil transportation services in the Chicago area, after an Illinois federal judge pointed out Monday there are several non-Enbridge pipeline routes providing refineries with alternatives for moving oil.
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January 14, 2025
Regal Cinemas, 'Vague Laws' Slowed BIPA Case, Judge Says
An Illinois federal magistrate judge blasted Regal Cinemas for discovery disputes in litigation alleging the movie theater chain violated a worker's rights under Illinois' biometric privacy law by collecting fingerprint scans without informed consent, saying "most if not all" of Regal's objections to her information requests "are completely out of place."
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January 14, 2025
'Totally A Tactic': Judge Rips Apple For Discovery Delays
The California federal judge presiding over Epic Games' antitrust compliance fight with Apple criticized the tech giant's efforts to withhold tens of thousands of documents under attorney-client privilege, telling Apple's counsel at a hearing Tuesday that "in large part, this is delay ... it's totally a tactic" and "there will be consequences."
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January 14, 2025
Mastercard Agrees To $26M Deal In Hiring Bias Suit
Mastercard Inc. has agreed to shell out $26 million and change its hiring practices to put to rest a proposed class and collective action alleging sex, gender, race and ethnicity-based employment discrimination, according to a motion filed Tuesday, the same day the workers sued in New York federal court.
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January 14, 2025
Biden Order Outlines Steps For Bolstering AI Infrastructure
President Joe Biden issued an executive order Tuesday that aims to shape the country into an artificial intelligence infrastructure leader by working with the private sector to build data centers.
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January 14, 2025
Frank Exec Wants Fraudster Comparisons Blocked At Trial
The founder of student financial aid startup Frank has asked a Manhattan federal judge to block prosecutors from comparing her to well-known convicted fraudsters at her upcoming trial on charges that she tricked JPMorgan Chase & Co. into buying her company for $175 million.
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January 14, 2025
Biden Finalizes Ban On Chinese, Russian Connected Car Tech
The Biden administration on Tuesday finalized a rule banning the import and sale in the U.S. of passenger vehicles with certain connectivity components made in China or Russia that the administration says could pose national security risks to American infrastructure and consumers.
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January 14, 2025
SEC Sues Elon Musk Over Late Twitter Buy-Up Disclosure
Elon Musk violated securities laws by failing to timely disclose his initial buy-up of Twitter stock ahead of his $44 billion acquisition of the company, allowing him to purchase shares at artificially low prices, the U.S. Securities and Exchange Commission alleged in a D.C. federal lawsuit filed Tuesday.
Expert Analysis
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What To Make Of Dueling Corporate Transparency Act Rulings
Although challenges to the Corporate Transparency Act abound — as highlighted by recent federal court decisions from Alabama and Oregon taking opposite positions on its constitutionality — the act is still law, so companies should comply with their filing requirements or face the potential consequences, say attorneys at Lowenstein Sandler.
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Series
The Pop Culture Docket: Justice Lebovits On Gilbert And Sullivan
Characters in the 19th century comic operas of Gilbert and Sullivan break the rules of good lawyering by shamelessly throwing responsible critical thought to the wind, providing hilarious lessons for lawyers and judges on how to avoid a surfeit of traps and tribulations, say acting New York Supreme Court Justice Gerald Lebovits and law student Tara Scown.
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California's AI Safety Bill Veto: The Path Forward
California Gov. Gavin Newsom's veto of a bill that sought to impose stringent regulations on advanced artificial intelligence model development has sparked a renewed debate on how best to balance innovation with safety in the rapidly evolving AI landscape, say Bobby Malhotra and Carson Swope at Winston & Strawn.
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To Report Or Not To Report Others' Export Control Violations
A recent Bureau of Industry and Security enforcement policy change grants cooperation credit to those that report violations of the Export Administration Regulations committed by others, but the benefits of doing so must be weighed against significant drawbacks, including the costs of preparing and submitting a report, says Megan Lew at Cravath.
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With Esmark Case, SEC Returns Focus To Tender Offer Rules
The U.S. Securities and Exchange Commission's recent enforcement action against Esmark in connection with its failed bid to acquire U.S. Steel indicates the SEC's renewed attention under Rule 14e‑8 of the Exchange Act on offerors' financial resources as a measure of the veracity of their tender offer communications, say attorneys at MoFo.
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What FDIC Expansion Of Change In Bank Control Could Mean
A recent Federal Deposit Insurance Corp. proposal pertaining to the Change in Bank Control Act has the potential to create uncertainty around investments by mutual fund complexes in banking organizations, which represent a stable source of capital for the banking industry, say attorneys at Sullivan & Cromwell.
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HSR Amendments Intensify Merger Filing Burdens, Data Risk
The antitrust agencies' long-awaited changes to premerger notification rules under the Hart-Scott-Rodino Act stand to significantly increase the time and cost involved in preparing an initial HSR notification, and will require more proactive attention to data issues, says Andrew Szwez at FTI Technology.
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What's Inside Feds' Latest Bank Merger Review Proposals
Recent bank merger proposals from a trio of federal agencies highlight the need for banks looking to grow through acquisition to consider several key issues much earlier in the planning process than has historically been necessary, say attorneys at Simpson Thacher.
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State Of The States' AI Legal Ethics Landscape
Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.
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Cos. Should Focus On State AI Laws Despite New DOL Site
Because a new U.S. Department of Labor-sponsored website about the disability discrimination risks of AI hiring tools mostly echoes old guidance, employers should focus on complying with the state and local AI workplace laws springing up where Congress and federal regulators have yet to act, say attorneys at Littler.
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How Biden Admin Has Used Antitrust Tools, And What's Next
The last four years have been marked by an aggressive whole-of-government approach to antitrust enforcement using a broad range of tools, and may result in lasting change regardless of the upcoming presidential election result, say attorneys at Norton Rose.
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Cos. Face Increasing Risk From Environmental Citizen Suits
Environmental citizen suits stepping in to fill the regulatory vacuum concerning consumer goods waste may soon become more common, and the evolving procedural landscape and changes to environmental law may contribute to companies' increased exposure, say J. Michael Showalter and Bradley Rochlen at ArentFox Schiff.
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How BIS' Rule Seeks To Encourage More Voluntary Disclosure
Updated incentives, penalties and enforcement resources in the Bureau of Industry and Security's recently published final rule revising the Export Administration Regulations should help companies decide how to implement export control compliance programs and whether to disclose possible violations, say attorneys at Freshfields.
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Making Sure Your Co. Isn't In The Next Section 13(f) Sweep
Enforcement actions taken against 11 institutional investment managers for alleged failures to file forms required by Section 13(f) of the Securities Exchange Act serve as a reminder that firms should carefully monitor their obligations to avoid becoming the target of the next enforcement sweep, say attorneys at Ropes & Gray.
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Series
Florida Banking Brief: All The Notable Legal Updates In Q3
With the implementation of H.B. 989, the third quarter of 2024 has been transformative for banking law and regulation in Florida, and this new law places a strong emphasis on fair access to banking, and prohibits ideologically or politically motivated decisions by financial institutions, says Sha’Ron James at Gunster.