Corporate

  • May 17, 2024

    Apple OK'd New App Fees Despite Antitrust Ruling

    An Apple Inc. executive conceded during a high-stakes antitrust hearing Friday over Apple's compliance with a court-ordered ban on App Store anti-steering rules that executives decided to implement a new 27% fee on out-of-app transactions despite knowing a jury had recently found that similar Google fees violated antitrust laws.

  • May 17, 2024

    Scammer Cops To SIM Scheme Including $400M Crypto Theft

    A Colorado woman on Thursday pled guilty in D.C. federal court for her part in a SIM swapping scheme that appears to encompass more than $400 million stolen from the now-bankrupt cryptocurrency exchange FTX.

  • May 17, 2024

    Judge Doubts 9th Circ. Ruling Upends VC's Fraud Conviction

    A California federal judge appeared skeptical Friday of convicted self-described "millennial" venture capitalist Michael Rothenberg's renewed request for a new trial or acquittal in light of a recent Ninth Circuit decision clarifying "materiality" in the federal criminal fraud statutes, doubting that Rothenberg was prejudiced by jury instructions addressing materiality.

  • May 17, 2024

    Boeing Jury Urged To Award Startup At Least $163M At IP Trial

    An electric-jet company told a Seattle jury Friday that Boeing misappropriated its trade secrets to build a copycat plane under the guise of investing in the startup, entitling it to an award of more than $163 million.

  • May 17, 2024

    Crypto Cos. Take SEC Cases To The Court Of Public Sentiment

    Mounting tension between the U.S. Securities and Exchange Commission and the cryptocurrency industry has led companies dealing in digital assets to toss the long-held practice of keeping notices of potential enforcement quiet and wear them as a badge of honor in the hopes of currying public favor.

  • May 17, 2024

    Judge Reluctantly Dismisses FirstEnergy Shareholder Suit

    An Ohio federal judge said Friday that he had no other choice but to dismiss a shareholder lawsuit filed against scandal-plagued utility FirstEnergy Corp., though his reluctance to do so was underscored by a lament that a $180 million settlement brokered in another courtroom left a "shroud of darkness" over a $1 billion bribery scandal. 

  • May 17, 2024

    Kohl's Directors' Aversion To Sale Was Self-Serving, Suit Says

    A Kohl's shareholder has hit the retailer's brass with a derivative suit alleging they covered up the results of a disastrous shift in business strategy and takeover offers, all in a bid to protect their own positions.

  • May 17, 2024

    Frontier Attacks Ex-CEO's $17M Life Insurance Tax Refund Bid

    Pointing to a 2004 arbitration agreement and criticizing its ex-CEO's compensation, Frontier Communications has asked a Connecticut state court judge to hang up on a call by Leonard Tow to litigate a $17 million demand for reimbursements on life insurance policies.

  • May 17, 2024

    Pfizer Unit Wins $107.5M Patent Verdict Against AstraZeneca

    A Delaware federal jury on Friday said that AstraZeneca Pharmaceuticals LP should pay $107.5 million in royalty damages for infringing a Pfizer-brand cancer treatment patent, although a final decision won't be issued until after a bench trial on some of AstraZeneca's additional defenses. 

  • May 17, 2024

    Feds Seek 10 Years In First Product Safety Conviction

    The government is asking for a pair of 10-year prison sentences for two Gree USA Inc. executives convicted of failing to report defective humidifiers, after the two were found guilty of conspiracy to defraud the U.S. Consumer Product Safety Commission.

  • May 17, 2024

    Air Gun Co. Manager Accused Of Fraud By Receiver

    The court-appointed overseer of a crumbling North Carolina air gun company has alleged that an owner was fraudulent and self-dealing with the businesses' money, saying a forensic accounting showed money flowing between accounts.

  • May 17, 2024

    Koch-Tied Group Says Transparency Law Offends Federalism

    The Corporate Transparency Act is unconstitutional because it does not regulate interstate commerce yet mandates that state-registered entities disclose personal information, a conservative group affiliated with the billionaire Koch brothers told the Eleventh Circuit on Friday.

  • May 17, 2024

    Employment Authority: Workers Take Aim At Pregnancy Bias

    Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on the substantial stack of charges the U.S. Equal Employment Opportunity Commission fielded last year brought under a new law that grants accommodations to pregnant employees, the Biden administration's rush to wrap up rulemaking to dodge potential Republican opposition, and why experts think United Auto Workers' upcoming union talks with Volkswagen present unique challenges.

  • May 17, 2024

    New Domestic Content Guidance May Boost Energy Credits

    The U.S. Treasury Department's new guidance on bonus tax credits for clean energy projects that source domestic-made materials and components aims to simplify the process for determining eligibility and spur more development to get those extra incentives.

  • May 17, 2024

    DOL Fails To Win Order Barring Retaliation On Pork Workers

    A Tennessee federal judge rebuffed a request from the U.S. Department of Labor to bar a pork producer from retaliating against workers providing information about wages, ruling that the department had failed to show that any retaliation had occurred.

  • May 17, 2024

    Judge Won't Bar Thermo Fisher Exec's Jump To Repligen

    A Massachusetts judge won't block a former Thermo Fisher Scientific executive from jumping to smaller rival Repligen, calling a noncompete agreement signed by the employee overbroad and suggesting that it was really aimed at stifling competition in a ruling released Friday.

  • May 17, 2024

    Cantor, Lutnick Strike Deal With Window SPAC Investors

    Shareholders of a special purpose acquisition company that took a now-bankrupt smart window manufacturer public have reached a tentative agreement to settle their proposed Delaware Chancery Court class action against Cantor Fitzgerald LP and its billionaire chair and CEO Howard Lutnick.

  • May 17, 2024

    Chancery Rulings Stir Up Del. Corporate Bar Push-Back

    Intrigue surrounding closed-door talks on amendments to Delaware's General Corporation Law picked up in recent days, bringing greater scrutiny to an often sedate effort stirred up this year by a draft proposal seen as potentially removing some corporate policing powers traditionally given to the state's courts.

  • May 17, 2024

    Industry Emboldened After Justices Galvanize Agency Attacks

    In the year since the U.S. Supreme Court said "extraordinary" and "far-reaching" attacks on administrative enforcers can skip agency tribunals and go straight to federal district court, ambitious challenges to regulatory powers are rapidly gaining traction, and the high court is poised to put them on an even firmer footing.

  • May 17, 2024

    Calif. Jury Finds Samsung Breached Contract With Netlist

    A Los Angeles federal jury found on Friday that Samsung materially breached a contract with chipmaker Netlist by cutting off its supply of crucial memory products, delivering a significant win for Netlist in its multi-jurisdictional patent fight with Samsung even though no monetary damages were at stake.

  • May 17, 2024

    Nestle Assistant GC Joins Mayer Brown's IP Practice In LA

    Mayer Brown LLP has hired Nestle's U.S. head of brand intellectual property as counsel for its global IP practice in Los Angeles.

  • May 17, 2024

    McDermott Adds Dechert Blockchain Ace In Calif. Offices

    McDermott Will & Emery LLP is growing its transactions team, announcing Friday it is bringing in a Dechert LLP blockchain and digital assets expert as a partner in its Orange County and Silicon Valley offices.

  • May 17, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    The SEC adopted cybersecurity rules to require investment advisers and broker-dealers to put procedures in place for detecting data breaches and for notifying customers when their personal information may have been compromised, and lawyers said SPACs won't get sought-after relief from a new 1% tax on stock buybacks under a recent Treasury Department proposal. These are among the stories in corporate legal news you may have missed in the past week.

  • May 17, 2024

    TD Bank Says Ex-Advisers Enticed $25M To Raymond James

    TD Bank NA and its subsidiary TD Private Client Wealth LLC are accusing two former employees of "brazenly" breaking nonsolicitation agreements by moving to Raymond James Financial Services Inc. and enticing $25 million in client assets to come with them.

  • May 17, 2024

    Trump's Potential Witness Could Be Defense 'Dynamite'

    As Donald Trump's hush money trial in Manhattan nears its end, experts say criminal defense attorney Robert Costello, who once advised the former president's ex-fixer and key prosecution witness Michael Cohen, has surfaced as a potentially bombshell witness for the defense.

Expert Analysis

  • Tenn. Law Protecting Artists From AI Raises Novel Issues

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    Tennessee recently enacted a law that extends the right of publicity protection to individuals' voices in an attempt to control the proliferation of artificial intelligence in the music industry, presenting fascinating questions about the First Amendment, the fair use doctrine and more, say attorneys at Davis Wright.

  • Consumer Privacy Takeaways From FTC Extraterritorial Action

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    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.

  • Assessing Work Rules After NLRB Handbook Ruling

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    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.

  • FDIC Bank Merger Reviews Could Get More Burdensome

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    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.

  • Series

    Whitewater Kayaking Makes Me A Better Lawyer

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    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.

  • A Key Pitfall Of Restricted Subsidiaries In Loan Agreements

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    In loan agreements, the treatment afforded to non-loan party restricted subsidiaries' EBITDA presents subtle, but serious threats to lenders that require thoughtful attention in underwriting and drafting, say David Ebroon at JPMorgan Chase and ​​​​​​​Jared Zajac at Cadwalader.

  • Del. Lessons For Director-Nominees On Sharing With Activists

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    The Delaware Chancery Court's recent decision in Icahn Partners v. deSouza finding that a director wasn't permitted to share certain privileged information with the activist stockholders that nominated him shows the need for companies to consider imposing appropriate confidentiality requirements on directors, say attorneys at Sullivan & Cromwell.

  • 3 Lessons From Family Dollar's Record $41.7M Guilty Plea

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    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.

  • This Earth Day, Consider How Your Firm Can Go Greener

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    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.

  • Opinion

    Anti-DEI Complaints Filed With EEOC Carry No Legal Weight

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    Recently filed complaints against several companies' diversity, equity and inclusion programs alleging unlawful discrimination against white people do not require a response from the U.S. Equal Employment Opportunity Commission, and should not stop employers from rooting out ongoing discriminatory practices, says former EEOC general counsel David Lopez.

  • New Proposal Signals Sharper Enforcement Focus At CFIUS

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    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.

  • Oracle Ruling Underscores Trend Of Mootness Fee Denials

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    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.

  • Traversing The Web Of Nonjudicial Grievance Mechanisms

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    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.

  • Questions Persist After Ruling Skirts $925M TCPA Award Issue

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    After an Oregon federal court's recent Wakefield v. ViSalus ruling that the doctrine of constitutional avoidance precluded it from deciding whether a $925 million Telephone Consumer Protection Act damages award was constitutionally sound, further guidance is needed on when statutory damages violate due process, says Michael Klotz at O'Melveny.

  • An NYDFS-Regulated Bank's Guide To Proper Internal Audits

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    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.

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