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Corporate
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June 20, 2025
Taxation With Representation: Latham, Paul Weiss, Covington
In this week's Taxation With Representation, Nippon Steel closes its purchase of U.S. Steel, Hunter Point Capital buys a minority stake in Equitix, Eaton acquires Ultra PCS Ltd. from the Cobham Ultra Group, and Eli Lilly and Co. acquires Verve Therapeutics.
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June 20, 2025
4 ERISA Cases To Watch In The 2nd Half Of 2025
The U.S. Department of Labor's challenge to a pair of injunctions blocking Biden-era regulations that broaden who qualifies as an investment advice fiduciary under federal benefits law tops the list of cases benefits attorneys will be watching in the latter half of the year.
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June 26, 2025
Greenberg Traurig Adds Spheres GC To London PE Team
Greenberg Traurig has recruited a senior lawyer from European private investment firm Spheres, the third new shareholder in its private equity team in London in recent months.
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June 18, 2025
Rio Tinto Agrees To $139M Mongolian Mine Suit Settlement
Rio Tinto agreed to pay $139 million to resolve a putative securities class action that accused the mining giant of concealing delays and cost overruns in a $7 billion copper-gold mine development in southern Mongolia, according to a group of investment funds' Wednesday motion for the settlement's preliminary approval.
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June 18, 2025
Alphabet, Investors Face Judge's Questions Over $500M Deal
A California federal judge has questions about an investor settlement with Google's parent company, Alphabet Inc., which agreed to earmark half a billion dollars over the next 10 years to overhaul its global compliance structure to resolve claims against company leaders of anticompetitive and monopolistic practices.
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June 18, 2025
Toyota Says DOJ Has Closed Thai Bribery Probe
Toyota said Wednesday that the U.S. Department of Justice has closed a long-running Foreign Corrupt Practices Act investigation concerning allegations of bribery at its Thai subsidiary, the latest such probe to be dropped under the Trump administration.
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June 18, 2025
Mississippi Social Media Law Blocked Again By Federal Judge
A Mississippi federal judge reinstated a preliminary injunction Wednesday that blocks a state law requiring digital service providers to verify users' ages and social media platforms to acquire parental consent for a minor's account, preventing it from taking effect after the Fifth Circuit lifted the court's previous injunction.
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June 18, 2025
Super Micro Can't Ditch Whistleblower Retaliation Suit
Super Micro Computer cannot escape its former employee's claim that the information technology company unlawfully retaliated against him for acting as a whistleblower to report its misleading accounting practices and other misconduct, a California federal judge ruled Tuesday.
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June 18, 2025
Consumers Drop Gore-Tex 'Greenwashing' Class Suit
Consumers suing the maker of the waterproof fabric Gore-Tex are looking to end, for now, their proposed class action against the company alleging W.L. Gore & Associates used toxic forever chemicals to manufacture its material while also "greenwashing" its image.
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June 18, 2025
Pilgrims Pride Investors Get Final OK To $41.5M Deal
Investors of poultry giant Pilgrim's Pride Corp. received the final nod for a $41.5 million deal to settle claims that trading prices for the company's shares were artificially inflated amid its participation in a broiler chicken price-fixing scheme.
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June 18, 2025
Sotera Investors Urge 6th Circ. To Reopen Toxic Gas Suit
Sotera Health investors are seeking to revive a lawsuit accusing the company of concealing the carcinogenic nature of a gas used at its sterilization plants, telling the Sixth Circuit that the company knew that its "outrageous and cynical" behavior would cost it hundreds of millions of dollars.
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June 18, 2025
AI Software Co. Cerence's Leaders Beat Shareholder Suit
A Massachusetts federal judge Wednesday tossed a consolidated derivative shareholder suit against the top brass of artificial intelligence software company Cerence Inc. over its revenue reporting, saying the plaintiffs did not make a presuit demand on the company's board and have failed to show that such a demand would have been futile.
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June 18, 2025
23andMe Seeks To Ease Concerns Over Sale To Founder
Several states indicated Wednesday they may no longer oppose the $305 million sale of 23andMe to a nonprofit led by Anne Wojcicki, a co-founder of the company, after the debtor structured the transaction as an equity transfer.
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June 18, 2025
Dealmakers Eye More Crypto-Targeted SPAC Mergers
More special purpose acquisition companies plan to seize upon the revival of cryptocurrencies under a second Trump administration and take cryptocurrency-related ventures public in the coming months, an attorney told a gathering of dealmakers on Wednesday.
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June 18, 2025
9th Circ. Tosses NLRB Order On Union Jurisdiction Dispute
The Ninth Circuit on Wednesday axed a National Labor Relations Board order barring a longshore union from going after maintenance work in the Port of Seattle that was awarded to the Machinists, with one judge inviting en banc review of appeals court precedent about work preservation defenses.
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June 18, 2025
Split 9th Circ. Partly Undoes Walmart Copyright Verdict
The Ninth Circuit on Wednesday reversed part of a jury's verdict that found Walmart had violated a sculptor's copyrights by selling knockoffs of her lamps, allowing the retail giant to escape paying her attorney fees for now.
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June 18, 2025
Online Bookstore Investors Seek Del. Sale Suit Revival
Stockholders of an online "virtual" bookstore that lost money for years urged Delaware's Supreme Court Wednesday to reverse a Court of Chancery decision upholding a $12.5 million sale to the company's preferred shareholders under a disputed liquidation preference.
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June 18, 2025
9th Circ. Backs Papa John's Win Against Wiretapping Suit
The Ninth Circuit refused to reinstate a customer's proposed class action accusing Papa John's of recording website visitors' activities in violation of the California Invasion of Privacy Act, ruling Wednesday the pizza chain, as a party to the communications, can't be liable for spying on its own conversation.
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June 18, 2025
Google's $32B Wiz Bid Gets DOJ Scrutiny, And Other Rumors
The U.S. Department of Justice is reviewing Google’s $32 billion Wiz deal, Mitsubishi could pay $8 billion for Aethon Energy's assets, and hedge fund Millennium could fetch a $14 billion valuation with a minority stake sale. Here’s a breakdown of the notable deal rumors from the past week.
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June 18, 2025
Reddit Execs Downplayed Google AI's Impact, Investors Say
Reddit and its top brass downplayed the impact Google's artificial intelligence-generated search results had on the forum website's traffic and ad revenues, causing stocks to drop when the truth emerged about weakening revenues, according to an investor's proposed class action filed Wednesday in California federal court.
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June 18, 2025
Judge Warns Overeager Samsung, ZTE Attys Not To Bug Staff
A California federal judge has issued a short, stern warning to counsel in Samsung's antitrust fight against ZTE over its standard essential patents' licensing practices, telling counsel not to contact court staff again about the status of their pending stipulation and noting "future improper communications to court staff may result in sanctions."
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June 18, 2025
FTC, Amazon Trade Blows Over Attempts To End Prime Case
The Federal Trade Commission and Amazon have slammed one another in federal court filings over their competing bids to win regulators' case targeting Prime subscription enrollment practices, continuing to spar over the applicability of a consumer protection law shielding online shoppers.
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June 18, 2025
Trump Set To Delay TikTok Sale-Or-Ban Deadline For 3rd Time
President Donald Trump is planning to extend for an additional 90 days a looming deadline for TikTok to cut ties with its Chinese parent company or face a nationwide ban, according to the White House, which said that the administration would use the extra time to finalize a deal to keep the popular social media app from going dark.
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June 18, 2025
Opt-Out 'Oversight' May Not Excuse Burford In Price-Fix Deal
An Illinois federal judge considering a $32 million price-fixing settlement between turkey producer Cargill and a group of direct purchasers seemed skeptical Wednesday of two Burford Capitol subsidiaries' assertion that they should be considered excluded from the deal despite submitting their opt-out request a day late.
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June 18, 2025
Tenn. School Sues Vet Group Over Accreditation Rules
Lincoln Memorial University filed a lawsuit in Tennessee federal court on Wednesday accusing a trade association for veterinarians of restricting competition for veterinary schools and vet services with burdensome accreditation requirements.
Expert Analysis
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Aviation Watch: New FAA Chief Will Face Strong Headwinds
Once confirmed, Bryan Bedford, President Donald Trump's nominee to head the Federal Aviation Administration, will face steep challenges — including a shortage of air traffic controllers, a recent spate of high-profile crashes, and the difficulty of working within an administration intent on cutting staffing and funding, says Alan Hoffman, a retired attorney and aviation expert.
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The SEC's Administrative Law Courts Are At A Crossroads
The U.S. Department of Justice's recent departure from its prior defense of the U.S. Securities and Exchange Commission's administrative law judges' legitimacy moves the forum deeper into a constitutional limbo that likely requires congressional action, says Dean Conway at Carlton Fields.
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SEC's Noteworthy Stablecoin Guidance Comes With Caveats
The U.S. Securities and Exchange Commission recently issued a statement concluding that a narrow class of stablecoins doesn't involve the offer or sale of securities — a significant step forward in recognizing that not all crypto-assets are created equal, though there remains a pressing need for broader regulatory clarity, say attorneys at A&O Shearman.
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Self-Disclosure Calculus Remains Complex Under Trump DOJ
Shifting policy focus under the Trump administration's Justice Department has created uncertainty for individuals considering voluntarily self-disclosing crimes that are no longer considered an enforcement priority, but there has been no indication that the administration intends on dialing back self-disclosure programs, say attorneys at Fox Rothschild.
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Series
Power To The Paralegals: The Value Of Unified State Licensing
Texas' proposal to become the latest state to license paraprofessional providers of limited legal services could help firms expand their reach and improve access to justice, but consumers, attorneys and allied legal professionals would benefit even more if similar programs across the country become more uniform, says Michael Houlberg at the University of Denver.
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Key Digital Asset Issues Require Antitrust Vigilance
As the digital assets industry continues to mature and consolidate during Trump 2.0, it will inevitably bump up against the antitrust laws in a new way, with potential pitfalls related to merger reviews, conspiratorial or monopolistic conduct, and interlocking directorates, say attorneys at Crowell & Moring.
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11 Tips For Contractors Dealing With DOD Staff Reductions
Defense contractors should prepare for a wide range of disruptions related to procurement and contract administration that are likely amid federal workforce reductions, say attorneys at Covington.
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GC Nominee Likely Has Employer-Friendly NLRB Priorities
President Donald Trump’s nomination of Crystal Carey as general counsel of the National Labor Relations Board indicates the administration's intent to revive precedents favorable to employers, including expansion of permissible employer speech and reinstatement of procedural steps needed for employees to achieve unionization, say attorneys at Vorys.
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4 Takeaways From La. Coastal Wetland Damage Verdict
A recent $745 million verdict in a case filed by a Louisiana parish against Chevron for violating a Louisiana environmental law illustrates that climate-related liabilities pose increasing risk and litigation risk may not follow a red state versus blue state divide, say attorneys at ArentFox Schiff.
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10 Soft Skills Every GC Should Master
As businesses face shifting regulatory and technological uncertainty, general counsel will need to strengthen certain soft skills to succeed, from admitting when they make a mistake to maintaining a healthy dose of dispassion, says Douglas Brown at Manatt.
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How Proxy Advisory Firms Are Approaching AI And DEI
Institutional Shareholder Services' and Glass Lewis' annual updates to their proxy voting guidelines reflect some of the biggest issues of the day, including artificial intelligence and DEI, and companies should parse these changes carefully, say attorneys at Cahill Gordon.
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5 Key Issues For Multinational Cos. Mulling Return To Office
As companies increasingly revisit return-to-office mandates, multinational employers may face challenges in enforcing uniform RTO practices globally, but several key considerations and practical solutions can help avoid roadblocks, say attorneys at Baker McKenzie.
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Reviving A Dormant Criminal Statute In Antitrust Prosecution
The U.S. Department of Justice is poised to revive a dormant misdemeanor statute to resolve bid-rigging charges against a foreign national, providing important context to a recent effort to entice foreign defendants to take responsibility for pending charges or face the risk of extradition, say attorneys at Axinn.
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Traversing The Shifting Sands Of ESG Reporting Compliance
Multinational corporations have increasingly found themselves between a rock and a hard place attempting to comply with EU and California ESG requirements while not running afoul of expanding U.S. anti-ESG regimes, but focusing on what is material to shareholder value and establishing strong governance can help, say attorneys at MoFo.
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.