Corporate

  • March 25, 2024

    US Accuses 7 Chinese Nationals Of Hacking Conspiracy

    The Biden administration filed criminal charges and issued economic sanctions on Monday against Chinese nationals who allegedly attempted hack into the accounts of government officials and defense companies under the auspices of a cyberespionage program supposedly backed by China.

  • March 25, 2024

    Atty Can Drop Alleged Schemer Who Didn't Pay For 2 Years

    A man accused of being the mastermind behind a $2 million cannabis crowdfunding scheme must find a new lawyer after stiffing his previous counsel for nearly two years, a Michigan federal judge said Monday.

  • March 25, 2024

    Chiquita MDL Parties Urge Fla. Judge To Ax Trial Testimony

    Parties in the multidistrict litigation against Chiquita Brands urged a Florida federal judge Monday to exclude each other's witnesses ahead of the upcoming bellwether trials, saying they were not timely disclosed and have no direct knowledge of the claims in the case.

  • March 25, 2024

    Ripple's Legal Chief Says SEC Wants $2B In Remedies

    The CEO and legal head of blockchain firm Ripple Labs said Monday that the U.S. Securities and Exchange Commission plans to seek $2 billion in fines and penalties over the firm's failure to register institutional sales of its XRP token, but the firm plans to strike back at the high dollar amount.

  • March 25, 2024

    TreeHouse Shareholders Get New Chance To Sue Execs

    An Illinois appellate panel reversed a Cook County judge Friday and revived a derivative lawsuit demanding that TreeHouse Foods sue three individual executives the shareholders claim materially misled them by falsely stating that two newly acquired companies were being successfully integrated into the food company's operations.

  • March 25, 2024

    X Can't Boot Severance Suit To Arbitration, Ex-Worker Says

    A former employee told a Delaware federal court that X Corp. can't derail a suit alleging it owes $500 million for skimping on severance pay after Elon Musk took over and fired thousands of workers, saying X breached the pact it's trying to use to force arbitration.

  • March 25, 2024

    Qualcomm Halts Plan To Buy Israeli Biz Under Regulatory Heat

    The Federal Trade Commission is celebrating Qualcomm's decision to abandon its attempts at acquiring an Israeli company that makes chips that allow vehicle-to-vehicle communication after too much regulatory pushback.

  • March 25, 2024

    3rd Circ. Won't Rethink AbbVie Privilege Ruling

    The Third Circuit refused Monday to reconsider a ruling that found AbbVie was unable to show a lower court went against precedent or made errors when ordering the drugmaker to turn over attorney communications from a patent case allegedly meant to delay an AndroGel rival.

  • March 25, 2024

    DOJ Calls Probe Of Alleged SpaceX Hiring Bias Constitutional

    The U.S. Department of Justice has defended its investigation into allegations that SpaceX refused to hire asylum-seekers and refugees, telling a Texas federal judge that its authority stems from a constitutionally sound provision of federal immigration law barring workplace discrimination based on citizenship status.

  • March 25, 2024

    Steelers Owner Says Partner's Silence Is Stalling TD Air Sale

    The majority owner and president of the Pittsburgh Steelers — who is also a consultant at Buchanan Ingersoll & Rooney PC — wants a Pennsylvania state court to make a purportedly nonresponsive business partner sell his one-third share of a company that formerly owned and operated private jets.

  • March 25, 2024

    Catching Up With Delaware's Chancery Court

    Last week in Delaware's Court of Chancery, litigants battled as Truth Social went public, Carl Icahn and Tripadvisor hit a roadblock, and more shareholders wailed about "invasive" bylaws. Oil drilling and pharmaceutical mergers sparked new lawsuits, and a sewing machine trademark owner sued to end a contract.

  • March 25, 2024

    Ex-Root Exec Gets 51 Months In Prison For $10.2M Theft

    The former chief marketing officer for Columbus, Ohio-based car insurer Root Inc. has been sentenced to 51 months in prison followed by five years of supervised release for embezzling more than $10.2 million from his employer and spending it on plastic surgery, a yacht, a plane, and other personal expenses.

  • March 25, 2024

    Trump Gets Late Reprieve After Failing To Post $465M Bond

    A New York appellate panel said Monday that Donald Trump can pause enforcement of the state attorney general's $465 million civil fraud judgment by posting just $175 million while he appeals, after the former president complained that he was unable to secure a bond for the entire amount.

  • March 25, 2024

    Boeing CEO To Exit At Year's End Amid 737 Max Crisis

    The Boeing Co. announced Monday that President and CEO Dave Calhoun will exit the company at the end of the year, and the chair of its board will also step down, as the American aerospace giant overhauls its leadership ranks amid an enduring 737 Max crisis.

  • March 25, 2024

    FTX Clawbacks Unlikely To Help Bankman-Fried At Sentencing

    FTX founder Sam Bankman-Fried probably won't find much success in arguing for a shorter prison term based on the billions of dollars recovered by the shuttered crypto exchange's bankruptcy estate, experts told Law360 ahead of this week's much-anticipated sentencing hearing.

  • March 25, 2024

    Tech Giants Face 1st Probe Under EU Digital Markets Rules

    Alphabet, Apple and Meta are being investigated by the European Union over whether they comply with the Digital Markets Act, the first probes launched under regulations aimed at reining in the power of Big Tech, the bloc's executive arm said Monday.

  • March 22, 2024

    Gilead's Win Upheld In Billion-Dollar HIV Drug Patent Case

    A Delaware federal judge on Friday largely upheld a jury's verdict rejecting the government's potentially billion-dollar claim that Gilead Sciences Inc. infringed patents covering HIV drugs, ruling that the jury was correct in finding Gilead didn't cause doctors and patients to infringe.

  • March 22, 2024

    Expert's Sanctions Off Limits In SEC's 'Shadow Trading' Trial

    A California federal judge overseeing a "shadow trading" trial starting Monday against a pharmaceutical executive ruled that the U.S. Securities and Exchange Commission can't introduce banking sanctions evidence against the defendant's mergers and acquisitions expert as long as he doesn't give opinions on securities law.

  • March 22, 2024

    OCC Fines Sterling Bank's Ex-COO $150K For Lax Oversight

    The former president of Michigan-based Sterling Bancorp Inc. has been ordered to pay $150,000 by the Office of the Comptroller of the Currency for allegedly failing to properly oversee the bank's Advantage Loan Program, which presented "high risks for fraud, money laundering, and lending misconduct."

  • March 22, 2024

    Judge Spares No Ink In Opinion Over Investors' $2.7M Deal

    A New Jersey federal judge in his first year on the federal bench has issued an exhaustive order accounting why he will "likely" approve a $2.7 million settlement between investors and executives of an electric vehicle company and grant certification to the proposed class.

  • March 22, 2024

    Meta Can't Stop FTC Privacy Tweaks, Feds Say

    The Federal Trade Commission told the D.C. Circuit that Meta Platforms Inc. cannot nitpick the agency's structure to dodge in-house proceedings over proposed revisions to a $5 billion data privacy settlement between the commission and the social media giant.

  • March 22, 2024

    Edible Arrangements' Prior Deal Forecloses IP Row With Rival

    A Georgia federal judge ended Edible Arrangements' trademark suit accusing 1-800-Flowers.com of bidding on and buying keywords related to Edible's products for search engine advertisements, finding the parties' prior settlement releasing 1-800-Flowers from similar conduct challenged by Edible in Connecticut federal court years ago barred its current action.

  • March 22, 2024

    Activists Press Full 5th Circ. To Nix Nasdaq Diversity Rule

    Conservative groups opposing a requirement that Nasdaq-listed companies publicly disclose board diversity data are pressing the full bench of the Fifth Circuit to declare the rule unconstitutional, arguing the U.S. Securities and Exchange Commission's involvement in the rulemaking process transforms the requirement into an unconstitutional restraint on free speech. 

  • March 22, 2024

    Real Estate Authority: NAR, Climate, Data Center Dollars

    Law360 Real Estate Authority covers the most important real estate deals, litigation, policies and trends. Catch up on this week's key developments by state — as well as on how the National Association of Realtors could shift broker fees, what the country's patchwork of climate action plans means for real estate, and why private equity is hot on data centers.

  • March 22, 2024

    Fired CFO Of Conn. Gas Co. Seeks $5.6M From Sale

    The former chief financial officer of Hocon Gas Inc., a propane and heating oil company serving three Northeastern states, says he was fired for dubious reasons after demanding his share of distributions ahead of a planned sale of the company and its affiliates, in a $5.6 million lawsuit in Connecticut state court.

Expert Analysis

  • 2nd Circ.'s Nine West Ruling Clarifies Safe Harbor Confusion

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    The Second Circuit’s recent ruling in Nine West’s Chapter 11 suit clarifies that courts in the circuit will apply a transfer-by-transfer analysis to determine the applicability of Section 546(e) of the Bankruptcy Code, and that to be safe harbored, a financial institution must act as an agent with respect to the specific transfer at issue, says Leonardo Trivigno at Carter Ledyard.

  • Insurance Implications Of Trump's NY Civil Fraud Verdict

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    A New York state trial court’s $450 million judgment against former President Donald Trump and affiliated entities for valuation fraud offers several important lessons for companies seeking to obtain directors and officers insurance, including the consequences of fraudulent misrepresentations and critical areas of underwriting risk, says Kevin LaCroix at RT ProExec.

  • Opinion

    European Union Criticisms Of The FCPA Are Misguided

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    Some in the European Union have criticized U.S. enforcement of the Foreign Corrupt Practices Act for what they perceive as jurisdictional overreach, but this appears to overlook the crucial fact that jurisdiction is voluntary, and critics should focus instead on the lack of equivalent laws in their own region, say John Joy and YuTong Wang at FTI Law.

  • Del. Dispatch: How Moelis Upends Stockholder Agreements

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    The Delaware Court of Chancery's Moelis decision last month upended the standard corporate practice of providing governance rights in stockholder agreements and adds to a recent line of surprising decisions holding that long-standing, common market practices violate Delaware law, say attorneys at Fried Frank.

  • Business Litigators Have A Source Of Untapped Fulfillment

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    As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.

  • Understanding Insurance Is Key To Limiting Antitrust Liability

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    As regulators signal their intent to continue last year's aggressive campaign of corporate antitrust litigation, businesses must make active management of their liability insurance policies, along with a firm knowledge of the limits of their coverage, central to their strategies for limiting the enormous financial risks of enforcement, say attorneys at Nossaman.

  • Takeaways From USPTO's AI-Assisted Invention Guidance

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    Recently issued guidance from the U.S. Patent and Trademark Office clarifies how patent inventorship is to be determined when AI is involved, and while the immediate risk of prosecution for failing to meet the new standards appears low, the extent of examiners’ scrutiny remains to be seen, say attorneys at Foley & Lardner.

  • What FTC's 'Killer Acquisition' Theory Means For Pharma Cos.

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    The Federal Trade Commission's recent lawsuit to block Sanofi's acquisition of a pharmaceutical treatment developed by Maze Therapeutics builds on previous enforcement actions and could indicate the agency's growing willingness to use its so-called killer acquisition theory against perceived attempts to eliminate nascent competition, say attorneys at Morgan Lewis.

  • Under The Hood Of The SEC Securitization Conflict Rule

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    Elanit Snow and Julia Vitter of Proskauer consider the U.S. Securities and Exchange Commission's recently finalized rule that prohibits conflicts of interest in certain securitization transactions, uncovering what the new regulation does and doesn’t entail, why it was adopted, and how commenters' remarks affected the process.

  • Series

    Skiing Makes Me A Better Lawyer

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    A lifetime of skiing has helped me develop important professional skills, and taught me that embracing challenges with a spirit of adventure can allow lawyers to push boundaries, expand their capabilities and ultimately excel in their careers, says Andrea Przybysz at Tucker Ellis.

  • Tips For Counsel Seeking Balance In The ESG Political Divide

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    Corporate counsel tasked with navigating environmental, social and governance factors in the current polarized political environment should not lose sight of best practices, including sticking to what the law requires and always telling the truth, say Jennifer Rubin at Mintz and Mike Rider at ResMed.

  • Assessing Chinese Cross-Border Data Transfers

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    Jet Deng and Ken Dai at Dacheng unpack the regulatory framework for cross-border data transfers in China, detailing the major systems at play, last year's policy adjustments, and an outlook and practice tips for businesses.

  • Think Like A Lawyer: Forget Everything You Know About IRAC

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    The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.

  • Valeant Ruling May Pave Way For Patent-Based FCA Suits

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    The Ninth Circuit’s recent ruling in Silbersher v. Valeant marks a significant development in False Claims Act jurisprudence, opens new avenues for litigation and potentially raises the stakes for patent applicants who intend to do business with the government, say Joshua Robbins and Rick Taché at Buchalter.

  • The Corporate Transparency Act Isn't Dead Yet

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    After an Alabama federal court's ruling last week rendering the Corporate Transparency Act unconstitutional, changes to the law may ultimately be required, but ongoing compliance is still the best course of action for most, says George Singer at Holland & Hart.

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