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Corporate
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July 31, 2025
Zoom Investor Gets Final OK For Derivative Suit Settlement
A Delaware federal judge granted final approval on Thursday to a settlement reached in a shareholder derivative suit accusing the top brass of Zoom of pulling in $172.9 million via insider sales after its 2019 initial public offering and before shares fell during the early days of the COVID-19 pandemic.
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July 31, 2025
10th Circ. Says Water Exclusion Bars Co.'s $1.75M Loss
A Kansas office building's property insurer has no duty to provide coverage for roughly $1.75 million in repairs over a broken water pipe, the Tenth Circuit ruled, rejecting the building owner's argument that an exception in one exclusion conflicted with a separate exclusion for water damage.
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July 31, 2025
Robotic Surgery Co.'s Antitrust Appeal Backed At 9th Circ.
Surgical Instrument Service Co. Inc. has received backing at the Ninth Circuit from a trade association and others groups as it looks to revive its case accusing Intuitive Surgical Inc. of blocking third parties from refurbishing components for its popular da Vinci surgery robot.
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July 31, 2025
Fed. Circ. Judges Cast Doubts On Trump Tariff Powers
Several Federal Circuit judges raised concerns about whether President Donald Trump's tariffs imposed under the International Emergency Economic Powers Act override constitutional and congressional authority during oral arguments Thursday in their questions to better understand the extent of the appeals court's review.
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July 31, 2025
Full FCC Hearing Sought On T-Mobile, UScellular Tie-Up
Several trade and public interest groups urged the Federal Communications Commission to hold a full agency review of T-Mobile's plan to take over most of UScellular after FCC staff gave the deal a green light almost three weeks ago.
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July 31, 2025
Microsoft Fights Demand For AI Deal Data In Databricks Suit
Third-party Microsoft Corp. urged a California magistrate judge Thursday to block a subpoena by a group of writers accusing San Francisco-based Databricks of using their copyrighted works to train its artificial intelligence tool MosaicML, arguing that Microsoft has already exceeded third-party obligations by providing certain data agreements and that the request is overbroad.
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July 31, 2025
PE Firm Risking Contempt, Receiver In Del. Over Legal Bills
Noting that unpaid legal bills might already support a contempt or limited receivership order against private equity 777 Partners, a Delaware magistrate in Chancery gave the company and its counsel a Monday deadline to report still-accumulating fee advancement debts.
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July 31, 2025
Conn. Atty Pins Failed Redaction On Tech In Gunmaker Suit
A third party's ability to bypass redactions and view protected documents was due to a software issue, a Connecticut civil litigator has told a federal judge, urging the court not to authorize sanctions for what he said was a "good faith" effort at redacting filings amid his dueling lawsuits with gunmaker Sig Sauer.
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July 31, 2025
9th Circ. Upholds Google's Play Store Antitrust Trial Loss
A Ninth Circuit panel Thursday affirmed Epic Games' 2023 antitrust jury trial win, along with an injunction requiring Google to open its Google Play Store to rivals, backing a landmark finding that Google monopolized the Android app-distribution market.
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July 31, 2025
2nd Circ. Vacates OpenSea Crypto Insider Trading Conviction
The Second Circuit on Thursday overturned the fraud conviction of a former OpenSea manager accused of insider trading on nonfungible token sales on his employer's platform, finding that a Manhattan jury may have convicted him "based on conduct that it found to be unethical rather than fraudulent."
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July 31, 2025
Fintech, BofA, JPMorgan Face Class Suit Over Cyberattack
Financial software company Finastra Technology Inc., Bank of America and JPMorgan Chase Bank NA face a proposed class action alleging they failed to properly safeguard customers' personal information that was exposed by a data breach.
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July 30, 2025
DOJ Flags 'Unlawful Discrimination' To Gov't Fund Recipients
The U.S. Department of Justice has outlined what it considers "unlawful discrimination" that federal funding recipients must avoid, including diversity, equity and inclusion programs, transgender athletes and "proxy" discrimination of assessing a job applicant's "cultural competence."
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July 30, 2025
Investor Seeks Injunction Of 'Unfair' $4 Billion Sitio Sale
Sitio Royalties Corp.'s $4 billion merger with Viper Energy Inc. is under fire in Colorado state court after a Sitio investor claimed that the merger will leave investors holding shares of Viper Energy that are "grossly undervalued."
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July 30, 2025
Flo Likely To Get Health Privacy Claim Tossed In Meta Case
The California federal judge overseeing a trial on allegations that Flo Health and Meta Platforms Inc. violated the privacy of millions of women who used Flo's period tracker app said Wednesday he'd likely toss the California Confidentiality of Medical Information Act claim, saying the lack of evidence is an "unsurmountable" problem.
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July 30, 2025
Crocs, Rival Agree To Narrow Claims In Shoewear IP Dispute
Crocs told a Colorado federal judge Wednesday it agreed to drop trademark dilution claims against Joybees stemming from a dispute where the defendant's CEO, who was a former midlevel Crocs manager, allegedly absconded with documents to copy the design and manufacturing process for its foam clog to start a competing business.
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July 30, 2025
2nd Circ. Backs Live Well Founder's Bond Fraud Convictions
The Second Circuit affirmed convictions for Live Well's founder for inducing lenders to extend credit by jacking up bond valuations to increase its debt and borrow against it, ruling Wednesday jurors had enough evidence to determine he misrepresented the value of collateral to secure loans and did so with fraudulent intent.
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July 30, 2025
Cash App Parent's $12.5M Spam Text Settlement Gets 1st OK
A Washington federal judge has granted preliminary approval to Cash App parent Block Inc.'s $12.5 million class action settlement with customers who alleged they were bombarded with "annoying and harassing spam texts" from the company.
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July 30, 2025
6th Circ. Unsure It Can Toss Papa John's Leaked Audio Suit
The Sixth Circuit grappled Wednesday with the fate of a lawsuit that the founder of Papa John's brought against a marketing agency alleging it leaked comments that led to his resignation, with one judge questioning the appellate court's jurisdiction to decide if a valid confidentiality agreement existed.
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July 30, 2025
CVS Can't Arbitrate RICO Suit Over Alleged 'No Generic' Policy
CVS effectively forfeited its arbitration rights in proposed class action litigation accusing it of conspiring to block Medicare beneficiaries from accessing generic versions of prescription drugs, a Pennsylvania federal judge ruled in denying the company's bid to enforce an arbitration agreement.
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July 30, 2025
Newmark Seeks Del. Nod For Ex-Broker Equity Sanctions
Global commercial real estate giant Newmark Holdings Inc. has sued for a Delaware Court of Chancery declaratory judgment confirming cancellation of cash, stock or restricted shares potentially earned by a Midwest contractor and his company, alleging secret handoffs of prospects and deals to a competitor.
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July 30, 2025
'Scattershot' Privacy Suit Over Gap Email Tracking Gets Nixed
A California federal judge has tossed a proposed class action alleging that Gap Inc. invaded consumers' privacy by using third-party tracking technology in its marketing emails, criticizing the plaintiff's "continuously shapeshifting" theories of liability and saying he "expects more from counsel than the scattershot and vague assertions presented here."
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July 30, 2025
Traders Say Sanctioned Firm Can't Swap Plaintiff In $2.5M Suit
A company facing trade sanctions cannot swap out another entity as a plaintiff in its suit targeting a crude oil sales firm's owners as it looks to collect $2.5 million based on an arbitral award, the owners have argued in Connecticut state and federal court.
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July 30, 2025
ImmunityBio Investors Nab Initial OK On Derivative Suit Deal
A California federal judge has granted initial approval to a deal ending derivative claims that ImmunityBio executives failed to disclose manufacturing deficiencies that doomed the company's lead cancer drug application.
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July 30, 2025
TD Bank Can't Beat Suit Over $3B AML Fine, Investors Say
TD Bank investors have urged a New York federal judge not to toss their class action over stock price drops the Canadian bank suffered after U.S. authorities announced a $3 billion settlement covering anti-money laundering compliance failures, saying it is undisputed that TD "vastly underinvested in AML compliance efforts" for over a decade.
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July 30, 2025
Workday Wants Firm DQ'd Over Privileged Info In Atty's Suit
Attorneys at Webb Law Group APC should be disqualified from representing an ex-Workday Inc. attorney in his bias suit against the company and should face sanctions for their "egregious behavior" in disclosing privileged information in a publicly filed document, Workday told a California federal magistrate judge.
Expert Analysis
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IP Due Diligence Tips For AI Assets In M&A Transactions
Artificial intelligence systems' integration into business operations creates new considerations for intellectual property due diligence in mergers and acquisitions and financing transactions, and implementing a practical approach to identifying AI assets can help avoid litigation and losses, say Armin Ghiam and Senna Hahn at Hunton.
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A Look At Florida's New Protected Series LLC Legislation
A new law in Florida enhances the flexibility of using limited liability companies as the entities of choice for most privately held businesses, moving Florida into a small group of states with reliable uniform protected series legislation for series LLCs, says Louis Conti at Holland & Knight.
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Series
Georgia Banking Brief: All The Notable Legal Updates In Q2
The second quarter brought a number of significant legislative and regulatory changes for Georgia banking, including an extension of the intangibles tax exemption for short-term notes, modernization of routine regulatory practices, and new guardrails against mortgage trigger leads, says Walter Jones at Balch & Bingham.
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Capital One Deal Approval Lights Up Path For Bank M&A
The federal banking regulators' recent approval of Capital One's acquisition of Discover signals the agencies' willingness to approve large transactions and a more favorable environment generally for bank mergers under the Trump administration, say attorneys at Arnold & Porter.
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Gauging The Risky Business Of Business Risk Disclosures
With the recent rise of securities fraud actions based on external events — like a data breach or environmental disaster — that drive down stock prices, risk disclosures have become more of a sword for the plaintiffs bar than a shield for public companies, now the subject of a growing circuit split, say attorneys at A&O Shearman.
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New FCPA Guidance Creates 5 Compliance Imperatives
In light of new Foreign Corrupt Practices Act guidelines that mark a fundamental shift in enforcement priorities, companies should consider several specific steps to ensure compliance, from enhanced due diligence to robust whistleblower protections, says Andrew Wirmani at Reese Marketos.
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Series
Playing The Violin Makes Me A Better Lawyer
Playing violin in a string quartet reminds me that flexibility, ambition, strong listening skills, thoughtful leadership and intentional collaboration are all keys to a successful legal practice, says Julie Park at MoFo.
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DOJ Enforcement Trends To Watch In 2nd Half Of 2025
Recent investigations, settlements and a declination to prosecute suggest that controlling the flow of goods into and out of the country, and redressing what the administration sees as reverse discrimination, are likely to be at the forefront of the U.S. Department of Justice's enforcement agenda the rest of this year, say attorneys at Baker Botts.
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NY Banking Brief: All The Notable Legal Updates In Q2
In the second quarter of the year, New York utilized every available tool to fill gaps left by federal retrenchment from consumer finance issues, including sweeping updates to its consumer protection framework and notable amendments to cybersecurity rules, say attorneys at Steptoe.
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SEC Proposal Could Hurt Foreign Issuers' US Market Access
The U.S. Securities and Exchange Commission’s June call for feedback on potentially narrowing how it designates foreign private issuers of securities could ultimately result in significant new barriers for traders that rely on FPI accommodations to participate in U.S. markets, say attorneys at Gibson Dunn.
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Federal Regs Order May Spell Harsher FDCA Enforcement
A recent executive order aimed at reducing criminal prosecutions of those who unknowingly violate complex federal regulations may actually lead to more aggressive felony indictments under the Federal Food, Drug and Cosmetic Act, but companies and executives can mitigate risks by following several key principals, say attorneys at McGuireWoods.
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DOJ's 1st M&A Declination Shows Value Of Self-Disclosures
The U.S. Department of Justice's recent decision not to charge private equity firm White Deer Management — the first such declination under an M&A safe harbor policy announced last year — signals that even in high-priority national security matters, the DOJ looks highly upon voluntary self-disclosures, say attorneys at Perkins Coie.
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Law School's Missed Lessons: Practicing Self-Care
Law schools don’t teach the mental, physical and emotional health maintenance tools necessary to deal with the profession's many demands, but practicing self-care is an important key to success that can help to improve focus, manage stress and reduce burnout, says Rachel Leonard at MG+M.
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Nev. Steps Up Efforts To Attract Incorporations With New Law
Recent amendments to Nevada corporate law, which will narrow controlling stockholders’ liability, streamline mergers and allow companies to opt out of jury trials, show the interstate competition to attract new and reincorporating companies is still heating up, say attorneys at Simpson Thacher.
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ABA Opinion Makes It A Bit Easier To Drop A 'Hot Potato'
The American Bar Association's recent ethics opinion clarifies when attorneys may terminate clients without good cause, though courts may still disqualify a lawyer who drops a client like a hot potato, so sending a closeout letter is always a best practice, say attorneys at Thompson Hine.