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September 11, 2025
Ex-Two Sigma Quant Rigged Models For $23M Profit, Feds Say
A former Two Sigma Investments quantitative analyst was hit Thursday with criminal charges and a civil enforcement action for allegedly manipulating the hedge fund's algorithmic models used to forecast securities performance in order to snag a $23 million payday while causing $165 million in harm to clients.
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September 11, 2025
Energy Giants Largely Defeat Climate Change RICO Suit
A Puerto Rico federal judge on Thursday mostly threw out, for good, racketeering and antitrust claims accusing a slew of energy industry companies of misrepresenting the climate dangers of fossil fuel products in causing a pair of hurricanes, though she declined to throw out some of the claims with prejudice.
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September 11, 2025
Uber Sued By Feds, Accused Of Disability-Based Bias
The federal government Thursday hauled Uber Technologies Inc. into a federal court in San Francisco, accusing the transportation company of discriminating against riders with disabilities, including by allegedly refusing service to individuals traveling with service animals or using stowable wheelchairs.
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September 11, 2025
Capital One Sues FDIC Over $149M SVB Bailout Charge
Capital One has sued the Federal Deposit Insurance Corp. in Virginia federal court challenging a $149 million charge in a special assessment levied by the agency as part of an effort to recoup losses from the 2023 regional banking crisis, saying the FDIC improperly included certain data in its calculation of the special assessment.
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September 11, 2025
FTC Presses OpenAI, Meta On AI Chatbots' Impact On Kids
The Federal Trade Commission is seeking information from Meta, OpenAI, Google and four others about the steps they're taking to measure and monitor the potentially negative impacts that AI-powered chatbots that are designed to act as companions are having on children and teens, the agency revealed Thursday.
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September 11, 2025
Ex-Nikola CEO Seeks To Undo Investor Class In Fraud Case
Former Nikola CEO Trevor Milton on Thursday asked an Arizona federal judge to decertify at least part of a class of investors accusing him and the company of exaggerating the viability of Nikola's technology and its business prospects, arguing the lead investors didn't identify and contact class members during discovery.
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September 11, 2025
SEC Fights Musk's Bid To Send Twitter Case To Texas
The U.S. Securities and Exchange Commission is challenging Elon Musk's attempt to have a lawsuit over his purchase of Twitter shares moved to Texas, arguing Thursday that there was "no question" that the case belonged in Washington, D.C.
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September 11, 2025
SEC Drops Suit Against Nikola Founder After Trump's Pardon
The U.S. Securities and Exchange Commission on Thursday ended its civil enforcement action in New York federal court against Nikola founder Trevor Milton months after he was pardoned by President Donald Trump for his securities fraud conviction on charges of lying to boost the company's stock on Wall Street.
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September 11, 2025
Moelis Says Pact Spurring Del. Corp. Law Rework Is Lawful
Attorneys for Moelis & Co. have told Delaware's justices that a stockholder agreement that solidified Ken Moelis' control of the investment bank was either valid or lawfully obtainable by other means before the Court of Chancery struck it down last year, with time to challenge key provisions long since expired.
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September 11, 2025
7th Circ. Backs $183M FCA Award Over Eli Lilly Drug Rebates
The Seventh Circuit refused on Thursday to unwind a whistleblower's $183 million trial win against Eli Lilly in a false claims case targeting more than a decade of drug rebate miscalculations, saying a jury reasonably found that the company knowingly "hid the truth" about how much it charged for Medicaid-covered drugs.
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September 11, 2025
McDonald's Loses Bid To Force Insurer To Cover Legal Fees
An Illinois federal judge ruled Wednesday that Homeland Insurance Co. of New York doesn't have to cover the costs McDonald's incurred defending a former employee's violent workplace claims, saying the psychological harm that worker suffered doesn't amount to a physical, bodily injury that would have triggered coverage under the policy.
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September 11, 2025
Dental Supply Co.'s $84M Price-Fixing Deal Gets Final OK
Dental supply company Dentsply Sirona Inc. and its investors have gotten final approval for an $84 million deal resolving consolidated shareholder class action claims that the company hurt investors by concealing a price-fixing scheme and a distributor's inventory buildup.
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September 11, 2025
AI, Tech and More Sectors Drive $4B-$7B Deal Rumors
Valuations in the $4 billion to $7 billion range emerged as the sweet spot in this week's deal rumors, with companies across artificial technology, tech and other sectors reportedly nearing stake sales, divestitures and initial public offerings.
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September 11, 2025
NY Judge Lets Baosheng IPO Suit Proceed But Drops Auditors
A New York federal judge has ruled that investors can move forward with claims that Baosheng Media misled them by failing to disclose an investigation by Chinese authorities ahead of its initial public offering, but found they'd failed to state a claim against the auditor defendants in the suit.
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September 11, 2025
Disney Flouts Privacy Law By Exploiting User Data, Suit Says
The Walt Disney Co. is flouting privacy laws by illegally gathering and sharing with Google personal information of individuals who visit its website for data monetization and advertising purposes, without their knowledge or consent, according to a proposed class action filed in California federal court.
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September 11, 2025
RSS Co-Creator Unveils License Plan For AI Content Crawlers
The co-creator of RSS feeds has helped launch a licensing process for AI crawlers that scrape website content to train artificial intelligence systems.
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September 11, 2025
AI Co. Employee Says Complaining Of Sex Bias Got Her Fired
An artificial intelligence software developer fired a data scientist after she complained that colleagues had minimized her contributions, held her to different standards than male co-workers and subjected her to unwanted sexual advances, according to a lawsuit filed in New York federal court.
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September 11, 2025
Yale New Haven Offers $18M To Settle Data Breach Claims
Yale New Haven Health Services Corp. has offered to create an $18 million global fund to settle what were once multiple lawsuits surrounding a March 8 data breach that affected more than 5 million individuals, according to a motion seeking a Connecticut federal judge's preliminary approval.
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September 11, 2025
Ex-Mars Risk Exec Cops To Wire Fraud In $28M Fraud Case
Mars Inc.'s former risk executive copped to wire fraud and tax evasion in Connecticut federal court Thursday over a scheme where he bilked the company out of more than $28 million by diverting funds from Mars assets to an account of a shell entity he created, and billing Mars for phony services.
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September 11, 2025
Trump Taps American Airlines Pilot For NTSB
President Donald Trump has nominated an American Airlines pilot to serve as a member of the National Transportation Safety Board, filling a vacancy on the five-member board that's contending with a series of high-profile accident investigations.
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September 11, 2025
IYO Loses Sanctions Bid In OpenAI Trademark Case
Technology firm IYO Inc. was denied a request to sanction OpenAI by a California federal judge who said IYO had not convincingly backed up its claim that OpenAI reposted materials touting products under the "IO" brand in violation of a court order.
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September 11, 2025
Chancery Taps Former Prosecutor For New Magistrate Post
Delaware's Chancery Court has appointed an attorney who served more than a decade with the state Department of Justice, including leading its misdemeanor trial unit, to fill one of two newly funded magistrates posts to help handle the court's caseload.
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September 11, 2025
Longtime General Dynamics Legal Counsel Joins Honigman
A 20-year veteran of General Dynamics who worked as general counsel of several subsidiaries and most recently oversaw the company's business operations in Canada, has joined Honigman LLP as a partner.
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September 11, 2025
Calif. Panel Frees Walmart From Fatal Big Rig Crash Suit
A California appeals panel won't revive a woman's claims against Walmart Inc. and one of its suppliers over the death of her daughter in a collision with a delivery truck, finding her claims are preempted by the Federal Aviation Administration Authorization Act.
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September 11, 2025
British American Tobacco Names Regulatory Head New GC
British American Tobacco said Thursday that it was promoting its current director of corporate and regulatory affairs to the post of general counsel after 18 years at the company.
Expert Analysis
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Series
Law School's Missed Lessons: Learning From Failure
While law school often focuses on the importance of precision, correctness and perfection, mistakes are inevitable in real-world practice — but failure is not the opposite of progress, and real talent comes from the ability to recover, rethink and reshape, says Brooke Pauley at Tucker Ellis.
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23andMe Fine Signals ICO's New GDPR Enforcement Focus
Many of the cybersecurity failures identified by the Information Commissioner’s Office in its investigation of 23andMe, recently resulting in a £2.3 million fine, were basic lapses, but the ICO's focus on several new U.K. General Data Protection Regulation considerations will likely carry into the future, say lawyers at Womble Bond.
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Midyear Rewind: How Courts Are Reshaping VPPA Standards
The first half of 2025 saw a series of cases interpreting the Video Privacy Protection Act as applied to website tracking technologies, including three appellate rulings deepening circuit splits on what qualifies as personally identifiable information and who qualifies as a consumer under the statute, say attorneys at Perkins Coie.
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Lessons On Parallel Settlements From Vanguard Class Action
A Pennsylvania federal judge’s unexpected denial of a proposed $40 million settlement of an investor class action against Vanguard highlights key factors parties should consider when settlement involves both regulators and civil plaintiffs, say attorneys at Ropes & Gray.
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How The Healthline Privacy Settlement Redefines Ad Tech Use
The Healthline settlement is the first time California has drawn a clear line in the sand around how website tracking must function in practice, so if your site uses tracking technologies, especially around sensitive content like health or finance, regulators are inspecting your website's back end, not just its banner, say attorneys at Baker Donelson.
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AI Infrastructure Growth Brings Unique IP Considerations
The explosive rise of artificial intelligence has triggered an equally dramatic transformation in the supporting infrastructure required to meet growing AI demand, and the technology used in these data centers has its own intellectual property considerations to navigate, says Vincent Allen at Carstens Allen.
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Legal Ops, Compliance Increasingly Vital To Antitrust Strategy
With deal timelines tightening and disclosure requirements intensifying, legal operations and compliance teams are becoming critical drivers of premerger strategy, cross-functional alignment and regulatory credibility, says Alexander Lima at Wesco International.
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Series
Adapting To Private Practice: From ATF Director To BigLaw
As a two-time boomerang partner, returning to BigLaw after stints as a U.S. attorney and the director of the Bureau of Alcohol, Tobacco, Firearms and Explosives, people ask me how I know when to move on, but there’s no single answer — just clearly set your priorities, says Steven Dettelbach at BakerHostetler.
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What To Know As SEC Looks To Expand Private Fund Access
As the U.S. Securities and Exchange Commission considers expanding retail access to private markets, understanding how these funds operate — and the role of financial intermediaries in guiding investors — is increasingly important, say attorneys at K&L Gates.
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New DOJ Penalty Policy Could Spell Trouble For Cos.
In light of the U.S. Department of Justice’s recently published guidance making victim relief a core condition of coordinated resolution crediting, companies facing parallel investigations must carefully calibrate their negotiation strategies to minimize the risk of duplicative penalties, say attorneys at Debevoise.
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IPR Decisions Clarify Stewart's 'Settled Expectations' Factor
Recent discretionary denial decisions from U.S. Patent and Trademark Office acting Director Coke Morgan Stewart have begun to illuminate the contours of her "settled expectations" doctrine, informing when it might be worth petitioning for inter partes review if the patent at issue has been in force for a few years, say attorneys at Morgan Lewis.
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4th Circ. Favors Plain Meaning In Bump-Up D&O Ruling
The Fourth Circuit's latest denial of indemnity coverage in Towers Watson v. National Union Fire Insurance and its previous ruling in this case lay out a pragmatic approach to bump-up provisions that avoids hypertechnical constructions to limit the effect of a policy's plain meaning, say attorneys at Kennedys.
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A Look At Key 5th Circ. White Collar Rulings So Far This Year
In the first half of 2025, the Fifth Circuit has decided numerous cases of particular import to white collar practitioners, which collectively underscore the critical importance of meticulous recordbuilding, procedural compliance and strategic litigation choices at every stage of a case, says Joe Magliolo at Jackson Walker.
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How Cos. In China Can Tailor Compliance Amid FCPA Shifts
The U.S. Department of Justice’s recently updated Foreign Corrupt Practices Act enforcement guidelines create a fluid business environment for companies operating in China that will require a customized compliance approach to navigate both countries’ corporate and legal systems, say attorneys at Dickinson Wright.
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SEC, FINRA Obligations In Changing AI Regulatory Landscape
Despite the U.S. Securities and Exchange Commission's recent withdrawal of its proposed artificial intelligence conflict rules, financial regulators remain focused on firms developing the correct AI compliance framework, as well as continuously testing and supervising them to ensure they're fit for purpose, say attorneys at Cahill Gordon.