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April 30, 2024
UK Fund Cites Jacobs' Qatar Oversight Failings In Del. Suit
A UK pension fund investor in the U.S.-based business that oversaw construction of 2022 World Cup soccer facilities in Qatar has sued the company's directors in Delaware's Court of Chancery, seeking recovery of damages arising from director failures to monitor human rights violations reported by workers.
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April 30, 2024
Chancery Partially Vacates Trump Media Suit Fast-Track Order
A Delaware vice chancellor pulled the plug Tuesday on a bid to fast-track part of a suit brought by two co-founders of Trump Media & Technology Group against former President Donald Trump's Truth Social media company before it went public.
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April 30, 2024
$626M Fee Award In BCBS Deal Is Unjust, High Court Told
A member of the class that settled multidistrict litigation with Blue Cross Blue Shield for $2.67 billion over anti-competitive practices has asked the U.S. Supreme Court to take up his challenge to the $626 million attorney fees award in the settlement, arguing the Eleventh Circuit's approval of the award runs counter to high court precedent.
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April 30, 2024
FTC To Help FCC Enforce 'Net Neutrality' Rules
The Federal Communications Commission has called on a sister agency, the Federal Trade Commission, to cooperate on enforcing the FCC's restored "net neutrality" rules to require the free flow of network traffic.
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April 30, 2024
Kroger, Albertsons Say FTC Distorts Markets In Merger Case
Kroger and Albertsons told an Oregon federal court to reject a pending merger challenge by the Federal Trade Commission and a group of states, saying it distorts the competitive landscape for the grocery and labor markets.
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April 30, 2024
FTC Continues To Target 'Junk' Drug Patents
Federal trade officials told a series of pharmaceutical companies — including the makers of the controversial diabetes and weight loss drug Ozempic — that they may have listed faulty patents in a key register of a federal drug database.
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April 30, 2024
Customers Can't Get Ill. ComEd Bribery Suit Restored
An Illinois state appellate panel refused Monday to reinstate a putative class action accusing Commonwealth Edison of fraud in the wake of the utility's admission that it bribed the former Illinois House speaker to secure his support for favorable energy policy, saying the passage of the relevant legislation wasn't directly related to the bribes.
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April 30, 2024
FTC Digging Into $2.3B Walmart-Vizio Deal
The Federal Trade Commission wants information about Walmart's $2.3 billion plan to take over smart television maker Vizio before it decides whether to sign off on the controversial acquisition.
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April 30, 2024
SEIU Cites Starbucks Organizing In Push For Cemex Standard
The Service Employees International Union invoked the nationwide organizing campaign at Starbucks stores in a request for the Ninth Circuit to back a National Labor Relations Board precedent shift for bargaining orders, arguing the new standard will help deter labor law violations.
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April 30, 2024
NY Bank Investors Spar Over Bid To Merge, Pause Suits
New York Community Bancorp Inc. shareholders traded barbs in filings this week over whether a New York federal judge should allow an individual shareholder to intervene in the larger group's attempt to consolidate and stay their derivative shareholder suits against the bank.
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April 30, 2024
Wash. Panel Reverses Hartford Unit Fire Coverage Ruling
A Washington state appeals court reversed a trial court's ruling that a Hartford unit's policy included coverage for an electrical panel that caused a restaurant fire, instead finding that whether the electrical panel was in the care of the restaurant or its landlord remains disputed.
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April 30, 2024
Binance Founder Gets 4 Mos. For Lax Money Laundering Policy
Binance founder Changpeng Zhao was sentenced Tuesday to four months in prison for his failure to implement an effective anti-money laundering program at the global crypto exchange, as a federal judge rejected a more severe punishment sought by the government citing concerns about sentencing disparity.
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April 30, 2024
EEOC Says High Court Ruling Supports Ex-Worker's ADA Suit
The U.S. Equal Employment Opportunity Commission urged the Tenth Circuit to reinstate a worker's disability bias suit claiming she was fired from a Kansas health system for refusing mental health counseling, arguing that a recent U.S. Supreme Court ruling shows her case was improperly tossed.
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April 30, 2024
Trump Held In Contempt For Trashing Witnesses In NY Trial
A New York state judge on Tuesday found former President Donald Trump in contempt of court for repeatedly violating a gag order in his criminal hush money case by publicly attacking expected witnesses, including his former attorney Michael Cohen.
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April 30, 2024
Coverage Recap: Day 5 Of Trump's NY Hush Money Trial
Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from day five.
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April 29, 2024
'I Don't Want To Try That Case,' Judge Tells Mike Lynch's Atty
The California federal judge overseeing Autonomy founder Michael Lynch's fraud trial over claims he duped HP into paying an inflated $11.7 billion for his company pushed back Monday against an attempt by Lynch's lawyer to introduce evidence of events that took place after the acquisition, saying, "I don't want to try that case."
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April 29, 2024
Robinhood's Top Lawyer Saw Pay Slashed By 29% In 2023
Dan Gallagher, the chief legal officer for online securities trading company Robinhood, earned $10.7 million in 2023, a nearly 30% decrease from the $15.1 million he came away with in 2022, according to a filing with the U.S. Securities and Exchange Commission.
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April 29, 2024
Pomerantz, Glancy Prongay Spar To Lead LexUrban Fraud Suit
Glancy Prongay & Murray LLP and Pomerantz LLP are vying to represent a proposed class of investors in a New York federal suit against real estate company LuxUrban Hotels, with Glancy Prongay accusing Pomerantz of "cobbl[ing] together" a would-be co-counsel group and Pomerantz defending its proposed lead plaintiffs as a proper "cohesive duo."
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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
Amazon Files $200M Countersuit Over Solar Projects' Fallout
Amazon claims a California-based private equity firm reneged on a pair of 15-year deals to sell it power from two new solar developments, launching a suit in Washington state court following competing allegations in California that the retail giant tried to sabotage the projects after signing the deals.
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April 29, 2024
Ex-Officers Seek Early Win Against Flight Attendant Union
Former officers of the Association of Professional Flight Attendants urged a Texas federal judge to toss claims from the union that they violated their fiduciary duty, accusing the union of raising allegations to further "its political agenda against plaintiffs."
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April 29, 2024
Terraform Says SEC's $5.4B Sanction Bid Fails Under Morrison
Crypto firm Terraform Labs and its founder Do Kwon struck back at the U.S. Securities and Exchange Commission's $5.4 billion sanctions request following its trial win, filing dual briefs Monday that argued the regulator has only shown that "a small number" of allegedly illegal token sales took place in the U.S. and under its jurisdiction as outlined in the U.S. Supreme Court's Morrison decision.
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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
DCG Gets To Face Combined Crypto Actions In Conn.
Cryptocurrency venture capital company Digital Currency Group Inc. has won its bid to move an investor action from Manhattan to Connecticut, where it faces similar claims over alleged losses during the so-called "crypto winter."
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April 29, 2024
Cyber Co. ZeroFox Investor Sues In Del. For Sale Docs
A ZeroFox Holdings Inc. stockholder sued in Delaware's Court of Chancery Monday for books and records on the cybersecurity intelligence company's $1.14 per share, $350 million sale to private equity firm Haveli Investments, citing questions about a pre-closing reduction in the company's value estimate.
Expert Analysis
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Where 9th Circ. Lowe's Ruling Leaves PAGA Jurisprudence
Leah Kennedy and Carolyn Wheeler at Katz Banks discuss the legal landscape and controlling precedent around the Private Attorneys General Act that led to the Ninth Circuit's Johnson v. Lowe's decision last month on individual PAGA wage claims, and explore the open questions that it leaves.
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Why Oncology Deal Making Continues To Fuel Biotech M&A
The biotech sector's potential for advancements in cancer care continues to attract deal-maker interest, and the keys to successful mergers and acquisitions include the ability to integrate innovative therapies, leverage technological advancements and respond to the dynamic needs of patients, say Bryan Luchs and Mike Weir at White & Case.
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5 Issues To Consider When Liquidating Through An ABC
Assignments for the benefit of creditors continue to grow in popularity as a tool for an orderly wind-down, and companies should be considering a number of issues before effectuating the assignment, including in which state it should occur, obtaining tail coverage and preparing a board creditor mailing list, says Evelyn Meltzer at Troutman Pepper.
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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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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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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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Class Actions At The Circuit Courts: March Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses four notable circuit court decisions on topics from consumer fraud to employment — and provides key takeaways for counsel on issues including coercive communications with putative class members and Article III standing at the class certification stage.
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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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2 Issues For Venture-Backed Climate Tech Startups To Avoid
As climate tech startups become more common, poor equity dilution management and stacked seed financing are two common pitfalls that apply more acutely to climate tech startups than to the broader venture-backed startup space, say attorneys at Goodwin.
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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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How Private Funds Can Navigate New FinCEN Reporting Rules
In light of the Financial Crimes Enforcement Network's new regulations implementing beneficial ownership reporting requirements, private fund managers must assess whether certain obligations apply to entities within their structures and whether potential structural changes could simplify those obligations, say attorneys at Winston & Strawn.
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Md. May See Vigorous Resale Price Maintenance Enforcement
In Maryland, indications of a new focus on resale price maintenance agreements are significant because state prosecution in this area has been rare, particularly outside California, say attorneys at DLA Piper.