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Corporate
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June 03, 2024
Treasury Aims To Salvage Corp. Transparency Act At 11th Circ.
The Corporate Transparency Act is a valid exercise of congressional authority to curb money laundering under the commerce clause and the necessary and proper clause in the Constitution, the U.S. Treasury Department told the Eleventh Circuit on Monday in a bid to restore the law's reporting requirements.
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June 03, 2024
Epoch Times CFO Charged With $67M Laundering Scheme
The chief financial officer of the Epoch Times was charged with orchestrating a scheme to launder about $67 million of illicit proceeds to benefit himself and the newspaper, according to an indictment unsealed in New York federal court Monday.
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June 03, 2024
El Pollo Loco Hit With Wage, Hostile Work Environment Claims
El Pollo Loco did not provide a former assistant manager with meal breaks or overtime or pay him the full wages he was promised, and store managers mocked him for requesting leave to tend to his ailing mother, the ex-worker alleged in a complaint filed in state court.
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June 03, 2024
New Mexico AG Beats Meta's Bid To Toss Child Abuse Suit
Social media company Meta can't escape a lawsuit claiming sexual predators were allowed to abuse children on Facebook and Instagram, after a New Mexico state judge rejected Meta's claims for immunity under Section 230 of the Communications Decency Act.
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June 03, 2024
Chicago Restaurant Biz Can Fix Testimony Without Sanctions
A Cook County judge on Monday refused to order the management group behind celebrated Chicago eatery Maple & Ash to produce thousands of documents that it claims are subject to attorney-client privilege as a sanction for misstating when an engagement letter was signed in sworn testimony, saying the issue was concerning but deeming the relief sought inappropriate.
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June 03, 2024
Trump's NY Gag Orders Likely Lifted With Verdict
Despite claims by former President Donald Trump that he is still limited in what he can say about jurors and witnesses following his guilty verdict, the gag orders imposed on him likely evaporated at the end of the Manhattan trial, lifting a threat of further contempt if he goes on the attack ahead of his sentencing this summer.
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June 03, 2024
Jeep Driver Files Proposed Class Suit Over Battery Defect
Stellantis North America has been slapped with a proposed class action in California federal court alleging that although the carmaker's 2021 Jeep Wrangler Unlimited 4XE suffers from a serious battery system defect, the company has refused to issue a recall or fix the vehicles.
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June 03, 2024
Del. Court Tosses SPAC Suit Targeting $2.4B EV Co. Deal
A Delaware vice chancellor has tossed a suit filed by an investor of a blank-check company challenging the $2.4 billion take-public deal it completed with electric-vehicle company Canoo Holdings Ltd., saying the investor's allegations of poor performance are not enough to assert claims for breaches of fiduciary duties.
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June 03, 2024
Eversource 'Shamelessly' Touts Dangerous Fuel, Suit Says
Eversource Energy promotes natural gas as a safe, clean energy source when it knows otherwise and engages in "greenwashing" that minimizes its impact on the environment, according to a proposed class action filed in state court on behalf of Massachusetts residents serviced by the utility.
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June 03, 2024
4 Mass. Rulings You Might Have Missed In May
Massachusetts state court judges rejected a law firm's effort to fight malpractice claims by pointing the finger at a Rhode Island judge, and ruled that an online booking platform can boot the owner of Bali vacation villas from its site, among other under-the-radar decisions handed down in May.
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June 03, 2024
Minn. Biz Groups Fight Ban On Required Anti-Union Meetings
A Minnesota company and two business groups are challenging the state's nearly year-old ban on so-called captive audience meetings, saying Minnesota can't exempt workers from sitting through mandatory meetings about their employers' views on unionization without violating the U.S. Constitution.
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June 03, 2024
Bookstores Can't Step Into FTC's Antitrust Fight With Amazon
A Washington federal judge on Monday declined to allow booksellers to intervene in the Federal Trade Commission's antitrust suit against Amazon to raise concerns about the digital retailer's book sales and agreements with publishers, but invited them to seek permission to file an amicus brief instead.
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June 03, 2024
Sens. Say DOD Risks Security With Reliance On Microsoft
Lawmakers told the U.S. Department of Defense that they want information on a reported plan to require an expensive Microsoft software upgrade for department components, expressing concern the Pentagon will risk security by increasing dependence on the technology company.
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June 03, 2024
Catching Up With Delaware's Chancery Court
Delaware's Court of Chancery pushed out tons of decisions last week, along with a second round of new rules and letters of concern over pending changes to the state's corporate law code. The court's docket was as busy as ever, with new cases involving Tesla CEO Elon Musk, FTX cryptocurrency claims, and more. In case you missed it, here's the latest from Delaware's Chancery Court.
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June 03, 2024
TikTok Snags Ex-Warner Bros. GC To Lead Legal
TikTok and parent company ByteDance picked a former Warner Bros. top lawyer to be its next global general counsel, the company said Monday, after the most recent leader in the position stepped down to fight a new federal law affecting the social media giant.
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June 03, 2024
Ex-SoftBank GC Joins Foley & Lardner As Partner In SF
Foley & Lardner LLP has hired SoftBank Investment Advisers' former general counsel, who has over a decade of experience in private practice and serving as in-house counsel overseeing SoftBank's legal team, which structured and monitored more than 300 portfolio companies worth more than $130 billion.
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June 03, 2024
Standards Are Murky As Legal Employers Vet Protesters
As violence in Gaza rages on, law firms have vowed not to employ lawyers whose activism for Palestinian rights they deem unacceptable. But "unacceptable" is in the eye of the beholder, and that makes it difficult for law students and lawyers who advocate for a ceasefire to navigate the workplace and the job market.
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June 03, 2024
Tubi Accuses Keller Postman Of Filing Frivolous Arbitrations
Streaming service company Tubi Inc. is going after a plaintiffs firm in Washington, D.C., federal court, alleging it has engaged in a mass arbitration scheme in which the firm has filed more than 23,000 allegedly frivolous or fraudulent demands for arbitration in attempts to force the company to settle.
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June 03, 2024
Biotech Firm, Mobile App Prepare To Enter IPO Fray
Biotechnology firm Rapport Therapeutics Inc. and Australian-listed mobile-sharing app Life360 Inc. unveiled plans on Monday for initial public offerings that are estimated to raise about $311 million combined this week, under guidance from three law firms.
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June 03, 2024
Split Fed. Circ. Backs EcoFactor's $20M Trial Win Over Google
The Federal Circuit on Monday affirmed that Google should pay EcoFactor $20 million for infringing its smart thermostat patent, but one judge took issue with allowing the damages to stand, saying her colleagues' ruling "at best muddles our precedent and at worst contradicts it."
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June 03, 2024
Law Firm Faces Sanctions Bid For Happy Meal 'Extortion' Suit
McDonald's has urged a Florida federal court to sanction Fischer Redavid PLLC and its clients for bringing a recently dismissed lawsuit seeking a warning on Happy Meal containers, accusing them of trying to extort the company for a bigger payout after securing an $800,000 jury verdict in a related case for the second-degree burns suffered by a girl from a dangerously hot Chicken McNugget.
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June 03, 2024
Jane Street Blasts Trading Firm's Defense In Trade Secret Row
Trading firm Jane Street Group LLC has urged a Manhattan federal judge to toss the counterclaims and affirmative defenses of two ex-employees and Millennium Management LLC in a trade secret suit, saying each is either "redundant" or has "little to no alleged facts to support" it.
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June 03, 2024
Mich. High Court Keeps $15 Min. Wage Proposal Off Ballot
An initiative to raise the hourly minimum wage in Michigan to $15 by 2027 will stay off the 2024 ballot, the state Supreme Court ruled, turning down a group's bid to force the state canvassers board to certify the proposal.
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June 03, 2024
CFPB Unveils Registry To Track Nonbank 'Repeat Offenders'
The Consumer Financial Protection Bureau on Monday finalized plans to begin centrally tracking court and regulatory enforcement orders against nonbank financial firms, issuing a rule that will create a public registry intended to help shine a light on companies that have recurring run-ins with authorities.
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June 03, 2024
Supreme Court Ruling Keeps Amazon Race Bias Suit Alive
Amazon Music can't sink a Black former worker's suit alleging her responsibilities were reduced and she was placed on a performance improvement plan for complaining about her manager, a New York federal judge said, ruling her claims are viable based on a recent U.S. Supreme Court decision.
Expert Analysis
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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.
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How Cos. Can Protect IP In Light Of FTC Noncompete Rule
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.
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Tylenol MDL Highlights Expert Admissibility Headaches
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.
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Recent Wave Of SEC No-Action Denials May Be Slowing
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.
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Don't Use The Same Template For Every Client Alert
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.
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Don't Fall On That Hill: Keys To Testifying Before Congress
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.
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Online Portal Helps Fortify Feds' Unfair Health Practices Fight
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.
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Data Shows H-2B Wages May Be Skewed High By Sample Size
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.
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10b-5 Litigation Questions Follow Justices' Macquarie Ruling
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.
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Series
Walking With My Dog Makes Me A Better Lawyer
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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Navigating SPAC Market Challenges For Microcap Issuers
For microcap issuers, the special-purpose acquisition vehicle market tells a cautionary tale in which few targets attain the advantages they seek, and important considerations for companies with market capitalization of under $300 million include negotiating costs and expenses upfront to avoid becoming saddled with debt, say attorneys at Lucosky Brookman.
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Key Issues Raised By Colorado's Brain Data Privacy Bill
Colorado recently became the first state to provide consumer privacy protections for data generated from a person's brain waves, and despite the bill’s ambiguity and open questions introduced, the new law has helped turn the spotlight on neurodata, says Sara Pullen Guercio at Alston & Bird.
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Chanel TM Ruling Shows Resellers Must Tread Carefully
The Southern District of New York's recent jury verdict in Chanel v. What Goes Around Comes Around, in which Chanel brought trademark infringement and false association claims, serves as a reminder that businesses must routinely ensure their practices are protected by the first sale and fair use doctrines, say Stephen Barrett and Gabriela Rios at Wilson Elser.
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Birkin Bag Case Carries Competition Lessons For Retailers
A recently proposed antitrust class action alleging that Hermès violated federal and California law when selling its iconic Birkin and Kelly handbags highlights some issues that other brands and retailers should consider, particularly given a prevailing landscape that seems to prioritize antitrust scrutiny, say attorneys at Holland & Knight.
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Think Like A Lawyer: Follow The Iron Rule Of Trial Logic
Many diligent and eager attorneys include every good fact, point and rule in their trial narratives — spurred by the gnawing fear they’ll be second-guessed for leaving something out — but this approach ignores a fundamental principle of successful trial lawyering, says Luke Andrews at Poole Huffman.