Corporate

  • May 16, 2024

    Convicted Insurance Mogul Says He'll Trim Empire

    Convicted insurance mogul Greg Lindberg told the North Carolina Supreme Court he's relinquishing control of portions of his enterprise to fulfill a deal to restructure them with independent oversight, according to court filings.

  • May 16, 2024

    Thomas, Alito: Two Originalists, Two Takes On CFPB Case

    U.S. Supreme Court Justices Clarence Thomas and Samuel Alito — often birds of a feather — butted heads Thursday over the original meaning and purpose of the U.S. Constitution's appropriations clause in a decision upholding the Consumer Financial Protection Bureau's unique funding scheme, highlighting what experts describe as the pair's different approaches to originalism.

  • May 16, 2024

    3rd Circ. Shuns Teva's 'Novel' Appeal On Israeli Investor Class

    The Third Circuit on Thursday turned away an appeal brought by Teva Pharmaceutical Industries Ltd., saying the class certification stage was not the right time to hear arguments over the "novel" question of the applicability of U.S. securities laws to Israeli-listed shares.

  • May 16, 2024

    'That Is A Lie!' Trump Atty Assails Cohen In Fraud Trial Cross

    Donald Trump's lawyer lashed out at central prosecution witness Michael Cohen on Thursday during a second day of cross-examination in New York state's criminal fraud case, attacking his credibility and key testimony linking Trump to crimes.

  • May 16, 2024

    Judge Irked By 'Smart' Attys And 'Silly' Doc Retention Policies

    The chief judge of the U.S. Court of International Trade scolded Chinese tire companies on Thursday for complaining about having to provide information the federal government requested to reassess antidumping duties after the companies won an order for that reassessment.

  • May 16, 2024

    Disney Strikes Deal To Exit Hispanic Worker's Bias Suit

    A Disney subsidiary reached an agreement Thursday with a former Walt Disney World worker to end her lawsuit alleging the company unlawfully fired her after a co-worker overheard her tell a story about disciplining her son for using the N-word, a filing in Florida federal court said.

  • May 16, 2024

    Stubhub, Attys Face Sanctions Bid Over 'Strategy Of Evasion'

    Counsel for consumers seeking StubHub refunds for events canceled or rescheduled due to COVID-19 urged a California federal magistrate judge Thursday to sanction the online ticket platform and its lawyers, saying they've "engaged in a strategy of evasion, denial and distortion" to avoid producing hyperlinked documents despite a court order.

  • May 16, 2024

    3rd Circ. Revives Wesco Retirees' ERISA Fee Case

    The Third Circuit reinstated a proposed class action Thursday accusing Wesco Distribution Inc. of letting its employee retirement plan pay exorbitant administrative fees, ruling a trial court's "partly valid" criticisms of the suit weren't enough to warrant dismissal.

  • May 16, 2024

    FTC Deputy Director Rao On Healthcare Antitrust Agenda

    The reason behind the Federal Trade Commission's changed attitude toward antitrust in healthcare in recent years isn't simple, according to Rahul Rao, deputy director of the FTC's Bureau of Competition.

  • May 16, 2024

    High Court Decision Requiring A Stay Raises More Questions

    The U.S. Supreme Court's unanimous decision Thursday finding that federal courts must honor a request to stay a case after ordering the dispute into arbitration leaves an important subsequent question unresolved: What happens if neither party requests a stay?

  • May 16, 2024

    Prosecutors Say Fake Fortune 500 Workers Funded N. Korea

    The Biden administration alleged that North Korea may have raised $6.8 million to develop nuclear weapons by installing remote information technology workers at Fortune 500 businesses, announcing charges Thursday against two individuals accused of helping agents pose as U.S. employees.

  • May 16, 2024

    BNSF Judge Vows To Avoid Extremes In Trespass Payout

    A federal judge said Thursday that BNSF Railway Co. will likely have to fork over profits from its entire 1,500-mile oil shipment route to compensate a Washington tribe for nearly a decade of train trespassings across a less-than-mile-long easement, but the judge said the disgorgement won't be the hundreds of millions the tribe is seeking.

  • May 16, 2024

    Apple Exec Must Produce All Docs On 27% App Fee Decision

    A California federal judge presiding over a high-stakes antitrust hearing over Apple's compliance with a court-ordered ban on App Store anti-steering rules ordered a company executive Thursday to hand over all of his communications and notes on Apple's decision to impose a new 27% fee after her injunction.

  • May 16, 2024

    MoneyLion Beats Investor Suit Over Reverse Stock Split

    A New York federal judge has dismissed a lawsuit by shareholders of digital finance platform MoneyLion, who allege the company and its directors approved a reverse stock split that stripped preferred shareholders of their rights, saying the investors should have known the consequences of the vote.

  • May 16, 2024

    Senate Passes Bill To Block SEC Crypto Accounting Guidance

    The U.S. Senate voted Thursday to send a bill overturning the U.S. Securities and Exchange Commission's controversial crypto accounting guidance to the president's desk, though without the necessary votes to override the White House's planned veto.

  • May 16, 2024

    FDIC's Gruenberg Scolded By Senators Over Agency Culture

    Federal Deposit Insurance Corp. Chairman Martin Gruenberg on Thursday faced a second round of congressional reprimand from both sides of the political aisle over his agency's workplace misconduct scandal, but Senate Democrats seemed ready to let Gruenberg clean up the mess himself and continue his tenure.

  • May 16, 2024

    Ex-Pharma Exec Cops To Contempt For Barred Finance Work

    A Boston federal judge on Thursday accepted a former pharmaceutical company executive's guilty plea to a criminal contempt charge for using an alias to work on a finance venture despite a U.S. Securities and Exchange Commission ban.

  • May 16, 2024

    DOL Unveils Long-Delayed Abandoned Retirement Plan Rules

    After being sidelined for more than a decade, a plan for expanding U.S. Department of Labor rules for terminating retirement plans abandoned by employers are moving forward again, the agency reported Thursday, along with a long-delayed role in the process for bankruptcy trustees.

  • May 16, 2024

    SEC Adopts Rules For Uncovering, Reporting Data Breaches

    The U.S. Securities and Exchange Commission announced the adoption of cybersecurity rules Thursday that will 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.

  • May 16, 2024

    GM, LG Ink $150M Deal To End Chevy Bolt Battery Defect Suit

    A proposed class of Chevrolet Bolt owners asked a Michigan federal court on Thursday to give the go-ahead for a $150 million deal to end claims against General Motors LLC and LG units over alleged battery defects they say make the cars prone to overheating and fires.

  • May 16, 2024

    No Relief For Struggling SPACs Under Buyback Tax Proposal

    Special-purpose acquisition companies won't get sought-after relief from a new 1% tax on stock buybacks under a recent Treasury Department proposal that otherwise provides helpful clarity on the tax's implications for the subdued SPAC market, lawyers say.

  • May 16, 2024

    Coverage Recap: Day 14 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 Thursday, day 14 of the trial.

  • May 16, 2024

    Burger King Franchisee Seeks BIPA Coverage Quick Win

    A Burger King franchisee asked an Illinois federal court to rule that due to precedent and policy ambiguities, its umbrella insurer must defend it in a class action claiming it violated Illinois' Biometric Information Privacy Act by nonconsensually collecting fingerprint data.

  • May 16, 2024

    In-House Manufacturing Ace Rejoins K&L Gates In Pittsburgh

    A top executive at metals manufacturer Arconic Corp. has rejoined K&L Gates LLP as a corporate mergers and acquisitions partner in Pittsburgh, the firm said Thursday.

  • May 16, 2024

    DC Judge Mulls Dominion's DQ Bid For Pro-Trump Mich. Atty

    Lawyers for Dominion Voting Systems pursuing defamation claims against former Overstock.com CEO Patrick Byrne fought Thursday to disqualify the Michigan attorney representing him, insisting to a D.C. federal judge that disqualification is the most appropriate remedy for the lawyer's leak of Dominion's confidential discovery documents.

Expert Analysis

  • The Merger Cases That Will Matter At ABA Antitrust Meeting

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    While the American Bar Association's Antitrust Spring Meeting this week will cover all types of competition law issues in the U.S. and abroad, expect the federal agencies' recent track record in merger enforcement to be a key area of focus on the official panels and in cocktail party chatter, say attorneys at Freshfields.

  • Calif. Verdict Showcases SEC's New 'Shadow Trading' Theory

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    Last week's insider trading verdict, delivered against biopharmaceutical executive Matthew Panuwat by a California federal jury, signals open season on a new area of regulatory enforcement enabled by the U.S. Securities and Exchange Commission's shadow trading theory, say Perrie Weiner and Aaron Goodman at Baker McKenzie.

  • Climate Disclosure Mandates Demand A Big-Picture Approach

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    As carbon emissions disclosure requirements from the European Union, California and the U.S. Securities and Exchange Commission take effect, the best practice for companies is not targeted compliance with a given reporting regime, but rather a comprehensive approach to systems assessment and management, says David Smith at Manatt.

  • Series

    Playing Hockey Makes Me A Better Lawyer

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    Nearly a lifetime of playing hockey taught me the importance of avoiding burnout in all aspects of life, and the game ultimately ended up providing me with the balance I needed to maintain success in my legal career, says John Riccione at Taft.

  • A Closer Look At Antitrust Agencies' Chat Platforms Guidance

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    Following the U.S. antitrust agencies' clarification that companies' preservation obligations extend through applications that automatically delete communications, firms should look at new compliance measures, including keeping control over retention settings, say John Ingrassia and Tim Burroughs at Proskauer.

  • ESG Challenges In Focus After Sierra Club Opposes SEC Rule

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    The Sierra Club's recent objection to the U.S. Securities and Exchange Commission's climate-related disclosures for investors presents an unusual — pro-disclosure — legal challenge and an opportunity to take a close look at the varying critiques of ESG regulations, say Colin Pohlman, and Jane Luxton and Paul Kisslinger at Lewis Brisbois.

  • A Snapshot Of The Evolving Restrictive Covenant Landscape

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    Rachael Martinez and Brooke Bahlinger at Foley highlight recent trends in the hotly contested regulation and enforcement of noncompetition and related nonsolicitation covenants, and provide guidance on drafting such provisions within the context of stand-alone employment agreements and merger or acquisition transactions.

  • Opinion

    High Court Should Settle Circuit Split On Risk Disclosures

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    The U.S. Supreme Court should grant the petition for writ of certiorari in the Facebook case to resolve a growing circuit split concerning when risk disclosures can be misleading under federal securities laws, and its decision should align with the intent of Congress and the U.S. Securities and Exchange Commission, says Richard Zelichov at DLA Piper.

  • Opinion

    Why Supreme Court Should Allow Repatriation Tax To Stand

    If the U.S. Supreme Court doesn't reject the taxpayers' misguided claims in Moore v. U.S. that the mandatory repatriation tax is unconstitutional, it could wreak havoc on our system of taxation and result in a catastrophic loss of revenue for the government, say Christina Mason and Theresa Balducci at Herrick Feinstein.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • UK Amazon Ruling Spotlights TM Rights In International Sales

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    Highlighting the conflict between the territorial nature of trademark rights and the borderless nature of the internet, the U.K. Supreme Court's recent decision — that Amazon's U.S. website could infringe EU and U.K. rights by targeting local buyers — offers guidance on navigating trademark rights in relation to online sales, say Emmy Hunt, Mark Kramer and Jordan Mitchell at Potter Clarkson.

  • The Multifaceted State AG Response To New Technologies

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    In response to the growth of technologies like artificial intelligence, biometric data collection and cryptocurrencies across consumer-facing industries, state attorneys general are proactively launching enforcement and regulatory initiatives — including bipartisan investigations and new state AI legislation, say Ketan Bhirud and Emily Yu at Cozen O'Connor.

  • Private Capital Considerations Amid Market Revival

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    As improved market conditions position traditional financing to regain lost market share, it's also worth considering the pace and structure of private credit and other forms of private capital, especially when seeking to set unique terms or build new corporate relationships, say attorneys at Skadden.

  • What NAR Settlement Means For Agent Commission Rates

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    If approved, a joint settlement agreement between the National Association of Realtors and a class of home sellers will likely take the onus off home sellers to compensate buyers' agents, affecting considerations for all parties to real estate transactions, say attorneys at Jones Foster.

  • Opinion

    $175M Bond Refiled By Trump Is Still Substantively Flawed

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    The corrected $175 million bond posted by former President Donald Trump on Thursday to stave off enforcement of the New York attorney general's fraud judgment against him remains substantively and procedurally flawed, as well as inadequately secured, says Adam Pollock of Pollock Cohen.

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