Corporate

  • May 03, 2024

    EU OK's Nippon-US Steel Deal As DOJ Causes Delayed Close

    The European Commission on Friday indicated via an annotation on its merger review page that it has given Nippon Steel's controversial $14.9 billion acquisition of U.S. Steel its unconditional approval, a move that comes just a day after the parties announced the deal would be delayed due to further scrutiny from the U.S. Department of Justice.

  • May 03, 2024

    How Big IP Judgment Winners Are Insuring 'Nuclear Verdicts'

    Until a few years ago, intellectual property plaintiffs who scored large monetary awards — often referred to as "nuclear verdicts" — had to wait out a lengthy appellate process before knowing how much money they would end up with. But a relatively new type of insurance policy is allowing plaintiffs to insure part of their judgment in case it gets reduced or wiped out on appeal. 

  • May 03, 2024

    OneTaste Duo's Bid To Toss Charges Slapped Down By Judge

    A Brooklyn federal judge on Friday denied a bid by two former executives of OneTaste to dismiss an indictment accusing them of extracting free labor from members of the San Francisco sexual wellness company through abusive tactics.

  • May 03, 2024

    Off The Bench: DraftKings, FIFA Warning, Charity Turmoil

    In this week's Off The Bench, DraftKings blocks a former executive from working at an emerging rival in the U.S., FIFA's transfer rules get flagged as a potential antitrust breach and the nonprofit marshaling donations to NFL safety Damar Hamlin sues its former counsel over media leaks.

  • May 03, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    A former general counsel testified Thursday in the criminal fraud trial of former Autonomy CEO Michael Lynch that the company's chief operating officer didn't want a whistleblower's claims to get into court, and a South Carolina man and his companies must pay the SEC nearly $24.9 million to settle claims that he misappropriated investors' money to make Ponzi payments. These are among the stories in corporate legal news you may have missed in the past week.

  • May 03, 2024

    Coverage Recap: Day 7 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 day seven.

  • May 03, 2024

    Tech Security Firm Founder Sues Buyer For Legal Fees In Del.

    The founder of security and information technology service venture Counter Threat Solutions sued the company that acquired it for legal fee advancement in Delaware's Court of Chancery, after accusing the buyer in a Delaware Superior Court suit of fabricating post-closing indemnity claims and refusing to honor payment terms.

  • May 03, 2024

    SEC Fines Trump Media's Audit Firm For 'Massive Fraud'

    The U.S. Securities and Exchange Commission said on Friday that it has fined and permanently suspended the public accounting firm of former President Donald Trump's social media company for allegedly running a "sham auditing mill" by failing to meet industry standards in reviewing the financial statements of hundreds of clients.

  • May 03, 2024

    Exxon Closes $60B Pioneer Purchase After FTC Agreement

    Exxon Mobil Corp. said Friday that it has closed its $60 billion acquisition of Pioneer Natural Resources, one day after the Federal Trade Commission gave the oil giant a conditional green light to move ahead with the deal. 

  • May 02, 2024

    Whistleblower Claims Would 'Destroy' Autonomy, GC Was Told

    Autonomy's former U.S. general counsel testified Thursday in the criminal fraud trial of former CEO Michael Lynch that the company's chief operating officer didn't want a whistleblower's claims to get into court, telling him that while the "law" was on their side, "the facts look bad" and would "destroy Autonomy."

  • May 02, 2024

    Endo Judge Hopes Criminal Sentence Warns Opioid Makers

    A Michigan federal judge said Thursday she hoped Endo's criminal sentence for falsely advertising a pain medication as "abuse deterrent" would itself be a deterrent for other opioid makers, as she accepted the company's recent $200 million settlement deal with federal prosecutors. 

  • May 02, 2024

    NY Jury Hears Trump On Tape Discussing $150K Payment

    Manhattan jurors in Donald Trump's criminal trial heard secretly recorded conversations of the former president discussing what prosecutors say is a $150,000 hush money payment for a former Playboy model intended to boost his 2016 election campaign.

  • May 02, 2024

    Walgreens Fights $1B Arb. Award Over COVID Test Contract

    At-home lab test maker Everly Health urged a Delaware federal judge to affirm its nearly $1 billion arbitration award against Walgreens over claims the pharmacy chain deliberately misused the digital health platform's trademark while secretly diverting COVID-19 tests to its own pharmacists while Walgreens argued the arbitrator overstepped his authority in bestowing such an "egregious" award.

  • May 02, 2024

    DOJ Wants More Info On Controversial US Steel-Nippon Deal

    U.S. Steel revealed Thursday it has received a second request for information from the U.S. Department of Justice about its controversial plan to be sold to Japan's Nippon Steel Corp., but it said the deal is on track to be completed in the second half of this year. 

  • May 02, 2024

    Chiquita Paid Militants To Save Lives, Ex-Ops Chief Testifies

    Chiquita's former head of Colombia operations testified in Florida federal court Thursday on payments he approved to militant groups in the country during a period of intense warfare in the 1990s, saying his company was left with little choice but to make the payments because workers' "lives were at stake."

  • May 02, 2024

    Pharma. Co. Wants Ex-Director To Stop Poaching Customers

    A pharmaceutical company has doubled down on its bid to stop a former director from soliciting customers for a rival drugmaker, saying he's trying to twist words in his contract and make up excuses for allegedly stealing trade secrets following his termination.

  • May 02, 2024

    House Seeks FTC Info On Scuttled Amazon-IRobot Deal

    The Republican-controlled House Committee on Oversight and Accountability is launching an investigation into the Federal Trade Commission's purported efforts to block Amazon's purchase of iRobot, according to a Wednesday letter from Rep. James Comer, R-Ky.

  • May 02, 2024

    FTC's Designer Fashion Deal Challenge Gets Sept. Hearing

    A New York federal court has scheduled a September hearing for the Federal Trade Commission's request to block luxury fashion holding company Tapestry Inc.'s planned $8.5 billion purchase of Capri Holdings Ltd., a deal that would bring together the Coach, Kate Spade and Michael Kors brands.

  • May 02, 2024

    Chancery Ruling Plays Role In Tesla's S&P Governance Grade

    Business rating agency Standard & Poor's has revised downward to "moderately negative" electric vehicle company Tesla Inc.'s grade for management and governance, pointing in part to CEO Elon Musk's dominant role, and the company's "uncommonly high" risk from lawsuits, including the Delaware Chancery Court's recent scuttling of his $56 billion pay plan.

  • May 02, 2024

    ADM Investor Says Brass Misled About Growth, SEC Probe

    The current and former top brass of food processing company Archer-Daniels-Midland were hit with a derivative suit in Delaware federal court alleging they provided false information to investors about the company's growth and failed to disclose a U.S. Securities and Exchange Commission's investigation into its nutrition business.

  • May 02, 2024

    5th Circ. Pauses NLRB Suit Against SpaceX Amid New Appeal

    A Fifth Circuit panel on Thursday paused an ongoing National Labor Relations Board suit against SpaceX to consider the company's challenge to what it calls the "effective" denial of its bid to block a suit by an agency it claims is unconstitutional.

  • May 02, 2024

    NFL's Top Atty Jeff Pash To Retire After Nearly 3 Decades

    Jeff Pash plans to retire as the NFL's executive vice president and general counsel after 27 years with the league, during which he was a major figure in its most consequential legal developments of the 21st century.

  • May 02, 2024

    Activist Files New Proxy Fight In REIT Takeover Attempt

    Activist investor Blackwells Capital LLC continued its campaign Thursday against hospitality executive Monty J. Bennett by separately urging shareholders of Braemar Hotels & Resorts Inc. and an advisory firm that Bennett controls to approve a board shake-up during upcoming annual meetings.

  • May 02, 2024

    Conn. Gaming Co., Bingo Supplier Settle Soured Deal Suit

    A Connecticut gaming company and the bingo products supplier it accused of withholding assets it had promised to sell in a $1.2 million acquisition agreement settled their dispute the day before they began jury selection, according to a new notice filed in federal court.

  • May 02, 2024

    Investors Not Entitled To Info, Sequel Youth Tells Chancery

    A once-thriving chain of youth treatment facilities that came under scrutiny after a private equity firm bought it in 2017 urged Delaware's Court of Chancery on Thursday to toss a lawsuit from two former executives who demanded financial information about their "eviscerated" investments, arguing that the company didn't have to provide it.

Expert Analysis

  • New Federal Bill Would Drastically Alter Privacy Landscape

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    While the recently introduced American Privacy Rights Act would eliminate the burdensome patchwork of state regulations, the proposed federal privacy law would also significantly expand compliance obligations and liability exposure for companies, especially those that rely on artificial intelligence or biometric technologies, says David Oberly at Baker Donelson.

  • How Cos. Can Comply With New PFAS Superfund Rule

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    The U.S. Environmental Protection Agency's new rule designating two per- and polyfluoroalkyl substances as "hazardous substances" under the Superfund law will likely trigger additional enforcement and litigation at sites across the country — so companies should evaluate any associated reporting obligations and liability risks, say attorneys at Alston & Bird.

  • Ill. Justices' Ruling Answers Corporate Defamation Questions

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    The Illinois Supreme Court's recent unanimous decision in Project44 v. FourKites provides needed certainty and direction for lower courts considering defamation cases involving communications to corporate officers from third parties outside the corporation, which could result in fewer unwarranted motions to dismiss in trial courts and nonmeritorious appeals, says Phillip Zisook at Schoenberg Finkel.

  • As Arbitrator Bias Claims Rise, Disclosure Standards Evolve

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    The growth in post-award challenges based on arbitrators' alleged conflicts of interest has led to the release of new guidance and new case law on the topic — both supporting the view that professional familiarity alone does not translate to a lack of impartiality, say attorneys at Skadden.

  • Social Media Free Speech Issues Are Trending At High Court

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    The U.S. Supreme Court's recent decision examining what constitutes state action on social media can be viewed in conjunction with oral arguments in two other cases to indicate that the court sees a need for more clarity regarding how social media usage implicates the First Amendment, say attorneys at Kean Miller.

  • Opinion

    CFPB Could, And Should, Revise Open Banking Rulemaking

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    In light of continued global developments in open banking, the Consumer Financial Protection Bureau should evaluate whether it actually should use its proposed rule on Section 1033 of the Dodd-Frank Act to amplify personal financial data rights in the U.S., says Brian Fritzsche at the Consumer Bankers Association.

  • How Cos. Can Protect IP In Light Of FTC Noncompete Rule

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    While several groups are challenging the Federal Trade Commission’s recently approved rule banning noncompetition agreements, employers should begin planning other ways to protect their valuable trade secrets, confidential information and other intellectual property, says Thomas Duston at Marshall Gerstein.

  • Tylenol MDL Highlights Expert Admissibility Headaches

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    A New York federal court's decision to exclude all plaintiff experts in a multidistrict litigation concerning prenatal exposure to Tylenol highlights a number of expert testimony pitfalls that parties should avoid in product liability and mass tort matters, say Rand Brothers and Courtney Block at Winston & Strawn.

  • Recent Wave Of SEC No-Action Denials May Be Slowing

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    The U.S. Securities and Exchange Commission in March granted no-action relief to Verizon and others on the grounds that a director resignation bylaw proposal would mean violating Delaware law, bucking recent SEC hesitation toward such relief and showing that articulating a basis in state law is a viable path to exclude a proposal, say attorneys at Winston & Strawn.

  • Don't Use The Same Template For Every Client Alert

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    As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.

  • Don't Fall On That Hill: Keys To Testifying Before Congress

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    Because congressional testimony often comes with political, reputational and financial risks in addition to legal pitfalls, witnesses and their attorneys should take a multifaceted approach to preparation, walking a fine line between legal and business considerations, say attorneys at Crowell & Moring.

  • Online Portal Helps Fortify Feds' Unfair Health Practices Fight

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    The Federal Trade Commission, U.S. Justice Department and the U.S. Department of Health and Human Services recently launched an online portal where the public can report potentially unfair healthcare practices, effectively maximizing enforcers' abilities to police anti-competitive actions that can drive up healthcare costs and chill innovation, say attorneys at Seyfarth.

  • Data Shows H-2B Wages May Be Skewed High By Sample Size

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    Occupational Wage and Employment Statistics wage data from April illustrates that smaller sample sizes from less populated areas may be skewing prevailing wages for H-2B visas artificially high, potentially harming businesses that rely on the visa program, says Stephen Bronars at Edgeworth Economics.

  • 10b-5 Litigation Questions Follow Justices' Macquarie Ruling

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    Last month, the U.S. Supreme Court held in Macquarie v. Moab that pure omissions are not actionable under U.S. Securities and Exchange Commission Rule 10b–5(b), creating a slightly higher bar for plaintiffs and setting the stage for further litigation over several issues, say Steve Quinlivan and Sean Colligan at Stinson.

  • Series

    Walking With My Dog Makes Me A Better Lawyer

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    Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.

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