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June 10, 2024
FTC To Fight Go-Ahead Order On Novant $320M Hospital Deal
Just days after a district court loss, the Federal Trade Commission said Monday it will ask the Fourth Circuit to step in and block Novant Health from buying two North Carolina hospitals in a $320 million deal the agency contends would harm competition.
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June 10, 2024
Victims Of Chiquita-Funded Paramilitaries Win $38M Award
The first bellwether trial in multidistrict litigation against Chiquita over its funding of right-wing paramilitaries in Colombia's banana-producing region ended with a victory Monday afternoon for nearly all the plaintiffs, as a Florida federal jury awarded them $38.3 million in damages for the losses of their loved ones killed by paramilitaries.
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June 10, 2024
Live Urgent Care In-House Atty Axed For Pregnancy, Suit Says
A former in-house attorney and compliance officer for Live Urgent Care LLC alleged in New Jersey state court on Friday that she was fired in retaliation for asking to take maternity leave and demanding a bonus she claims was never paid.
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June 10, 2024
Cozen Sustains NY Growth With Ogletree Labor Expert
An experienced labor and employment attorney has jumped from Ogletree Deakins Nash Smoak & Stewart PC to Cozen O'Connor, continuing recent growth in the firm's New York office.
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June 10, 2024
Catching Up With Delaware's Chancery Court
Big players and big moves dominated much of the past week in Delaware's Court of Chancery, as Tesla in particular and big corporations in general showed their pique over rulings that went toward stockholders or against conventional expectations.
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June 10, 2024
Vista Outdoor Rejects MNC's Over $3B Takeover Bid
Vista Outdoor Inc. said Monday that it rejected MNC Capital Partners' over $3 billion takeover offer that it lobbed at the outdoor goods company last week, while simultaneously announcing a new $2 billion offer for its sporting products division from an undisclosed U.S.-based private investment firm.
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June 10, 2024
Elliott Presses Southwest Airlines For Leadership Changes
Elliott Investment Management LP said Monday that it has amassed a stake in Southwest Airlines of approximately $1.9 billion as it pushed the airline to make leadership changes, but Southwest was quick to defend its top brass.
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June 10, 2024
Justices Skip Kroger's TM Feud With Grubhub Over Logo
The U.S. Supreme Court on Monday declined to review a Seventh Circuit finding that Grubhub Inc.'s fork-and-knife logo does not infringe a similar emblem used by Kroger's meal-kit delivery service Home Chef.
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June 10, 2024
Justices To Hear Meta Investor Suit Over Risk Disclosures
The U.S. Supreme Court on Monday agreed to hear Meta Platforms' petition regarding the Ninth Circuit's decision to partially revive investors' claims over the Cambridge Analytica data abuse scandal, after the tech giant argued the appellate panel adopted "extreme outlier positions."
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June 10, 2024
Justices Seek Solicitor General View On Climate Change Torts
The U.S. Supreme Court on Monday asked the U.S. solicitor general to weigh in on a bid to end a suit brought by Honolulu seeking to put fossil fuel companies on the hook for climate change-related damages.
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June 07, 2024
NFL's Kraft Testifies 'Too Many' Sunday Ticket Sales Is Bad
A California federal jury considering multi-billion dollar antitrust claims against the NFL brought by Sunday Ticket subscribers saw video deposition testimony Friday from New England Patriots owner Robert Kraft, who said ensuring a high price for the television package is a league priority, and he would not want "too many" U.S. subscribers.
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June 07, 2024
Real Estate Authority: EPA's Brownfield Funding Surge
Catch up on this week's key developments by state from Law360 Real Estate Authority — including a new data series on the U.S. Environmental Protection Agency's brownfield grant program.
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June 07, 2024
Ontrak CEO Had Anxiety Over Souring Cigna Deal, Jury Told
A former Ontrak Inc. consultant testified Friday in the trial of its founder who's accused of trading on insider information about Ontrak's souring relationship with Cigna Healthcare in 2021, telling California federal jurors he frequently expressed anxiety, saying that Ontrak must "save Cigna" and describing the situation as a nightmare.
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June 07, 2024
Uber Targets Most Calif., Texas Claims In Driver Assault MDL
Uber urged a California federal judge Friday to toss the majority of claims from plaintiffs in California and Texas in multidistrict litigation seeking to hold the ride-hailing company liable for drivers' sexual assaults, saying it can't be held responsible for the actions of individual drivers under those state's laws.
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June 07, 2024
Ozempic MDL Gets New Judge After Judge Pratter's Death
The U.S. Judicial Panel on Multidistrict Litigation on Thursday reassigned sprawling litigation over Ozempic and similar drugs in the Eastern District of Pennsylvania following the sudden death of U.S. District Judge Gene E.K. Pratter, who'd been overseeing the MDL.
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June 07, 2024
Casper Investors Ink $3M Deal Over Mattress Co.'s Woes
Investors in mattress company Casper Sleep Inc. have asked a Brooklyn federal judge for an initial nod for their $3 million deal that would end claims the company misrepresented its financial prospects in the lead-up to its February 2020 initial public offering.
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June 07, 2024
Terraform Funder Must Face Class Claims In Illinois
Terraform Labs' financial backer Jump Trading LLC cannot consolidate a pair of proposed class actions accusing it of propping up the failing crypto platform, with a federal judge ruling that purchasers of a massively devalued crypto token can keep their lawsuit against the high-speed trading firm in Illinois.
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June 07, 2024
DC Circ. Undoes Library Of Congress Win In Fair Use Fight
The D.C. Circuit on Friday reversed a lower court's decision that had rejected two industry groups' challenge to a final rule that categorized medical device diagnostic procedures and repairs as fair use exemptions to U.S. copyright law.
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June 07, 2024
Trump Can Bring Atty To Presentence Interview
A New York judge ruled Friday that Donald Trump can bring his attorney with him when he sits down with a New York City probation officer for a presentence interview, granting an unusual accommodation to the former president before he is sentenced for his criminal conviction next month.
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June 07, 2024
SEC Fines Ex-AstraZeneca Insider $1.4M For Merger Trades
The U.S. Securities and Exchange Commission has ordered a former AstraZeneca employee to pay $1.4 million to settle claims he used nonpublic information to trade CinCor Pharma shares ahead of the public announcement that the two companies would merge.
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June 07, 2024
Don't Delay In-House Handbags Case For Fed. Court, FTC Told
Federal Trade Commission staffers are urging the commission not to delay an in-house challenge to the planned $8.5 billion merger combining the parent companies of Coach and Michael Kors, arguing that a separate New York federal court fight won't automatically determine the deal's fate.
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June 07, 2024
'Why Are You Even Here?' Judge Prods Big Tobacco
A Washington state appellate panel on Friday criticized Philip Morris USA Inc. and other tobacco companies for attempting to pay the state less under a 1998 master settlement agreement, with one judge asking a Big Tobacco attorney why they were in court in the first place.
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June 07, 2024
Employment Authority: How AI Tools May Push Disability Bias
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on why worker advocates are concerned that hiring tools that use artificial intelligence are allowing disability bias to flourish, how fewer and fewer workers are being paid at the federal minimum wage as state wage rates rise, and why experts think a recent Fifth Circuit ruling could cause trouble for new remedies laid out by the National Labor Relations Board in the future.
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June 07, 2024
Tesla Rips 'Unprecedented' $5.6B Fee Bid In Musk Pay Fight
Tesla urged Delaware's Chancery Court on Friday to reject a $5.6 billion stock-based fee request by counsel representing investors who blocked Elon Musk's record Tesla pay package, arguing the "unprecedented" fee bid is unreasonable, unwarranted and 17 times larger than any fee award in Delaware history.
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June 07, 2024
FaZe Clan SPAC Investor Sues B. Riley In Chancery Court
Former stockholders of the blank-check company that took electronic sports and entertainment company FaZe Clan public in a $725 million transaction in July 2022 sued B. Riley Financial and others behind the deal on Friday in Delaware's Court of Chancery, alleging disclosure failures and breaches of fiduciary duty.
Expert Analysis
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Key Priorities In FDIC Report On Resolving Big Bank Failures
The Federal Deposit Insurance Corp.'s report last month on the resolvability of large financial institutions contains little new information, but it does reiterate key policy priorities, including the agency's desire to enhance loss-absorbing capacity through long-term debt requirements and preference for single-point-of-entry resolution strategies, say attorneys at Freshfields.
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A Recipe For Growth Equity Investing In A Slow M&A Market
Carl Marcellino at Ropes & Gray discusses the factors bolstering appetite for growth equity fundraising in a depressed M&A market, and walks through the deal terms and other ingredients that set growth equity transactions apart from bread-and-butter venture capital investing.
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Opinion
SEC Doesn't Have Legal Authority For Climate Disclosure Rule
Instead of making the required legal argument to establish its authority, the U.S. Securities and Exchange Commission's climate-related disclosure rule hides behind more than 1,000 references to materiality to give the appearance that its rule is legally defensible, says Bernard Sharfman at RealClearFoundation.
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What 100 Federal Cases Suggest About Changes To Chevron
With the U.S. Supreme Court poised to overturn or narrow its 40-year-old doctrine of Chevron deference, a review of 100 recent federal district court decisions confirm that changes to the Chevron framework will have broad ramifications — but the magnitude of the impact will depend on the details of the high court's ruling, say Kali Schellenberg and Jon Cochran at LeVan Stapleton.
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Patent Damages Jury Verdicts Aren't Always End Of The Story
Recent outcomes demonstrate that patent damages jury verdicts are often challenged and are overturned approximately one-third of the time, and successful verdict challenges typically occur at the appellate level and concern patent validity and infringement, say James Donohue and Marie Sanyal at Charles River.
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FTC Noncompete Rule May Still Face Historical Hurdles
The Federal Trade Commission's final rule banning noncompetes might face challenges that could have been avoided with more cautious consideration of the commission's long history of failed lawsuits that went beyond the agency's statutory authority, as well as the mountain of judicial precedent justifying noncompete agreements in employment contracts, say attorneys at BakerHostetler.
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Justices' Title VII Ruling Requires Greater Employer Vigilance
The U.S. Supreme Court’s recent Muldrow v. St. Louis ruling expands the types of employment decisions that can be challenged under Title VII, so employers will need to carefully review decisions that affect a term, condition or privilege of employment, say attorneys at Morgan Lewis.
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Opinion
SEC Should Be Allowed To Equip Investors With Climate Info
The U.S. Securities and Exchange Commission's new rule to require more climate-related disclosures will provide investors with much-needed clarity, despite opponents' attempts to challenge the rule with misused legal arguments, say Sarah Goetz at Democracy Forward and Cynthia Hanawalt at Columbia University’s Sabin Center for Climate Change.
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Why High Court May Have Rejected IP Obviousness Appeal
Attorneys at Womble Bond analyze possible reasons the U.S. Supreme Court rejected Vanda Pharmaceuticals' request to review the Federal Circuit’s reasonable expectation of success standard for determining obviousness, including that the court was unpersuaded by the company's argument that Amgen v. Sanofi places a bind on drug developers.
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New Federal Bill Would Drastically Alter Privacy Landscape
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.
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How Cos. Can Comply With New PFAS Superfund Rule
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.
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Ill. Justices' Ruling Answers Corporate Defamation Questions
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.
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As Arbitrator Bias Claims Rise, Disclosure Standards Evolve
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.
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Social Media Free Speech Issues Are Trending At High Court
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.
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Opinion
CFPB Could, And Should, Revise Open Banking Rulemaking
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.