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Corporate
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April 28, 2025
Avis Hit With Investor Suit Over $2.3B Fleet Impairment
Car rental company Avis Budget Group has been hit with a proposed shareholder class action alleging it harmed investors when it concealed a strategy shift late last year that accelerated fleet rotation and led to a $2.3 billion impairment charge.
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April 28, 2025
Chinese Cos. Lose Immunity Fight In 9th Circ. IP Case
The Ninth Circuit on Monday shot down arguments from related Chinese steel companies that they shouldn't have to face espionage charges that they stole DuPont trade secrets for creating titanium dioxide, saying they aren't protected by foreign sovereign immunity.
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April 28, 2025
Ex-Celsius VP Gets 13 Months In Prison For Insider Trading
A Florida federal judge sentenced Celsius Holdings Inc.'s former vice president and controller to more than a year in prison on Monday after the former executive of the energy drink company admitted to insider trading and using confidential financial information to acquire stocks and options, then sold them a month later for a profit.
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April 28, 2025
Chancery OKs Shortcut For Derivative Fox Suit
A Delaware vice chancellor late Monday approved an unprecedented Fox Corp. call for a targeted summary judgment proceeding focused on a single Fox director's independence after a different jurist rejected, in November, dismissal of the suit, which seeks hundreds of millions of dollars in defamation damages in connection with broadcasts of bogus 2020 election claims.
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April 28, 2025
Wells Fargo Exits CFPB's Mortgage, Auto Loan Consent Order
Wells Fargo & Co. announced Monday it has exited a consent order it inked with the Consumer Financial Protection Bureau in a 2018 settlement that stemmed from allegations of improper practices in the bank's auto lending and mortgage divisions.
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April 28, 2025
Exec 'Can't Believe' X Offers Itself As Place For Friends
The Federal Trade Commission pressed executives and former leaders from X Corp., Strava, Pinterest and Reddit on Monday for all the things that distinguish their services from Meta Platforms Inc., painting Facebook and Instagram in D.C. federal court as effectively the only place to really connect with friends and family to show the social media giant's alleged monopoly.
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April 28, 2025
DOJ's Slater Outlines 'America First Antitrust' Priorities
The head of the U.S. Department of Justice's Antitrust Division said Monday that robust antitrust enforcement meshes with conservative principles, and the agency's priorities will be on pocketbook issues and protecting individual liberty online.
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April 28, 2025
Wells Fargo Investors Win Class Cert. In 'Sham' Hiring Case
A California federal judge has certified a class of thousands of Wells Fargo & Co. investors in litigation over the bank's alleged practice of conducting "sham" job interviews to meet diversity targets, a strategy investors say led to stock prices dropping when the truth came to light, according to an order issued Friday.
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April 28, 2025
DOJ Wants Live Nation Case Split Between Liability, Damages
The U.S. Department of Justice asked a New York federal court on Monday to split the case accusing Live Nation of quashing competition in the live entertainment industry by having a jury decide if the company violated antitrust law and the judge decide what remedies to impose.
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April 28, 2025
Ziploc 'Microwave Safe' Bags Shed Microplastics, Buyer Says
S.C. Johnson & Son Inc. falsely markets Ziploc bags and containers as "microwave safe" and suitable for use in freezers despite knowing they are made from materials that shed microplastics into food when the products are used as directed, according to a proposed class action filed in California federal court.
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April 28, 2025
Mobile Comm Co. Sued For Docs In Del. Ahead Of Board Vote
Two Sonim Technologies Inc. corporate stockholders have accused the mobile communications tech company of weaponizing board nomination rules "purely for entrenchment" of incumbents, in a Delaware Court of Chancery suit and preliminary injunction bid filed ahead of an upcoming annual meeting and takeover fight.
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April 28, 2025
High Court Takes On Removal Issue In Hain Baby Food Case
The U.S. Supreme Court will decide whether the erroneous dismissal of a defendant upon a case's removal to federal court warrants undoing the years-later final result, agreeing Monday to hear Whole Foods and Hain Celestial Group's bid to preserve a midtrial win over allegedly tainted baby food.
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April 28, 2025
Baker Donelson Picks Up Longtime HHS OIG Atty In Maryland
Amanda Copsey, a longtime U.S. Department of Health and Human Services' Office of Inspector General attorney, has joined Baker Donelson Bearman Caldwell & Berkowitz PC as a shareholder in its Baltimore office, bringing nearly 20 years of experience in healthcare laws and regulations.
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April 28, 2025
TD Bank's $3 Paper Statement Fee Breaks NY Law, Suit Says
TD Bank faces a proposed customer class action alleging it violated New York state law with its practice of charging its customers $3 to mail them paper copies of their monthly billing statements.
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April 28, 2025
Boeing Rips Investors' Class Cert. Bid In 737 Max Fraud Suit
Boeing has told an Illinois federal judge that pension funds and private investors cannot certify a sweeping class action seeking a "jaw-dropping" $15 billion in damages by alleging Boeing repeatedly misrepresented the overall safety and certification process for the 737 Max 8 jets after two deadly crashes in 2018 and 2019.
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April 28, 2025
Wells Fargo Says Atty Is To Blame For SEC's EB-5 Fraud Suit
An immigration attorney claiming a Wells Fargo adviser led her astray has no one to blame but herself for being sued by the U.S. Securities and Exchange Commission for EB-5 investment fraud, the company told a Nevada federal court.
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April 28, 2025
5th Circ. Grants DOL 30-Day Stay In States' ESG Rule Appeal
The Fifth Circuit on Monday granted the U.S. Department of Labor's request to stay an appeal from Republican-led states in a suit challenging the agency's rule that allows retirement fiduciaries to consider issues like climate change and social justice when choosing investments, but limited the pause to 30 days.
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April 28, 2025
Walgreens Opposes Merging 'Non-Drowsy' Labeling Suits
Walgreens is pushing back on a bid to consolidate two Illinois federal lawsuits alleging the "non-drowsy" label on some of the retailer's cough suppressant medications is misleading, saying the two cases involve different allegations and are at different stages, and arguing that consolidation would cause a delay in the litigation.
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April 28, 2025
EPA Touts Intention To Act On PFAS Contamination
The U.S. Environmental Protection Agency on Monday said it's planning a series of actions to address pollution from forever chemicals, including the designation of a leader for PFAS regulation and issues at the EPA.
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April 28, 2025
Former Docusign Leader Hired To Succeed Ironclad CEO
Contract management software company Ironclad Inc. announced Monday that its co-founder and chief executive, Jason Boehmig, will move into an executive chairman role and former Docusign chief executive Dan Springer will join Ironclad as Boehmig's successor.
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April 28, 2025
Ex-Deutsche Bank GC Is Coinbase's Next Compliance Chief
A former general counsel at Deutsche Bank AG, who most recently led the anti-financial crime unit, is joining Coinbase Global Inc. as chief compliance officer, he said in a LinkedIn post Monday, a move that comes as policymakers work to set rules of the road for cryptocurrency.
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April 28, 2025
Kramer Levin Hires Former SDNY Prosecutor, Corporate Atty
Kramer Levin Naftalis & Frankel LLP announced Monday that it has added to its attorney roster a former assistant U.S. attorney for the Southern District of New York and a corporate lawyer from Schulte Roth & Zabel LLP.
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April 28, 2025
Feds No Longer Want Convicted Ex-Ill. Speaker To Forfeit $3M
The federal government has reversed course on a bid for former Illinois House Speaker Michael Madigan to forfeit more than $3 million in the wake of his partial conviction on public corruption, saying it stands by its legal arguments but was backing off as "a matter of discretion."
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April 28, 2025
Chancery Tosses Palantir Suit Targeting Direct Sale Gains
Observing that corporate insiders can't be penalized for profiting from public information, a Delaware vice chancellor has thrown out a derivative suit filed by Palantir Technologies stockholders accusing the private company's directors and officers of unfairly profiting from direct-to-market stock sales without taking the company public.
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April 28, 2025
China Says No Tariff Negotiations Underway With US
China is not currently negotiating with the United States on tariffs, and President Xi Jinping has not spoken to President Donald Trump on the phone recently, a spokesperson for China's foreign ministry said Monday.
Expert Analysis
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Opinion
7 Ways CFTC Should Nix Unnecessary Regulatory Burdens
Several U.S. Commodity Futures Trading Commission regulations do not work efficiently in practice, all of which can be abolished or improved in order to comply with a recent executive order requiring the elimination of 10 regulations for every new one implemented, say attorneys at K&L Gates.
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Key Insurance Issues Likely To Arise From NY Superfund Law
The recently enacted New York Climate Change Superfund Act imposes a massive $75 billion in liabilities on energy companies in the fossil fuel industry, which can be expected to look to their insurers for coverage, raising a slew of coverage issues both old and new, say attorneys at Wiley.
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How Attorneys Can Master The Art Of On-Camera Presence
As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.
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What Del. Corporate Law Rework Means For Founder-Led Cos.
Although the amendments to the Delaware General Corporation Law have proven somewhat divisive, they will provide greater clarity and predictability in the rules that apply to founder-led companies navigating transactions concerning controlling stockholders and responding to books-and-records requests, say attorneys at Munger Tolles.
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Series
Baseball Fantasy Camp Makes Me A Better Lawyer
With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.
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DOJ Immigration Playbook May Take Cues From A 2017 Case
A record criminal resolution with a tree trimming company accused of knowingly employing unauthorized workers in 2017 may provide clues as to how the U.S. Department of Justice’s immigration crackdown will touch American companies, which should prepare now for potential enforcement actions, says Jonathan Porter at Husch Blackwell.
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Paul Atkins' Past Speeches Offer A Glimpse Into SEC's Future
Following Paul Atkins' Thursday Senate confirmation hearing, a look at his public remarks while serving as a commissioner at the U.S. Securities and Exchange Commission between 2002 and 2008 reveals eight possible structural and procedural changes the SEC may see once he likely takes over as chair, say attorneys at Covington.
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Series
Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.
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How Del. Supreme Court, Legislature Have Clarified 'Control'
The Delaware Supreme Court's January decision in In re: Oracle and the General Assembly's passage of amendments to the Delaware General Corporation Law this week, when taken together, help make the controlling-stockholder analysis clearer and more predictable for companies with large stockholders, say attorneys at Baker Botts.
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Retirement Plan Suits Show Value Of Cybersecurity Policies
Several data breach class actions that were recently filed against retirement plan administrator The Pension Specialists in Illinois federal court are a reminder that developing and following a good written cybersecurity policy provides a blueprint for compliance and may prevent lawsuits, says Carol Buckmann at Cohen & Buckmann.
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How Importers Can Minimize FCA Risks Of Tariff Mitigation
False Claims Act risks are inherent in many tariff mitigation strategies, making it important for importers to implement best practices to identify and report potential violations of import regulations before they escalate, says Samuel Finkelstein at LMD Trade Law.
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Explaining CFPB's Legal Duties Under The Dodd-Frank Act
While only Congress can actually eradicate the Consumer Financial Protection Bureau, the Trump administration has sought to significantly alter the agency's operations, so it's an apt time to review the minimum baseline of activities that Congress requires of the CFPB in Title X of the Dodd-Frank Act, say attorneys at Bradley Arant.
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State Securities Enforcers May Fill A Federal Enforcement Gap
The U.S. Securities and Exchange Commission appears poised to take a lighter touch under the new administration, but state enforcement efforts are likely to continue unabated, and potentially even increase, particularly with regard to digital assets and ESG disclosures, say attorneys at Ropes & Gray.
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Firms Still Have Lateral Market Advantage, But Risks Persist
Partner and associate mobility data from the fourth quarter of 2024 shows that we’re in a new, stable era of lateral hiring where firms have the edge, but leaders should proceed cautiously, looking beyond expected revenue and compensation analyses for potential risks, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.
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Recent Cases Highlight Latest AI-Related Civil Litigation Risks
Ongoing lawsuits in federal district courts reveal potential risks that companies using artificial intelligence may face from civil litigants, including health insurance coverage cases involving contractual and equitable claims, and myriad cases concerning securities disclosure claims, say attorneys at Katten.