President Donald Trump said Wednesday that defense contractors are barred from buying back their own stocks or paying shareholder dividends if they are underperforming on their U.S. government contracts, ordering a review and potential "remediation plan" for contractors found slacking.
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Aerospace & Defense
THURSDAY, JANUARY 8, 2026 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Trump Bars 'Underperforming' Defense Contractors' Buybacks

By Rae Ann Varona

President Donald Trump said Wednesday that defense contractors are barred from buying back their own stocks or paying shareholder dividends if they are underperforming on their U.S. government contracts, ordering a review and potential "remediation plan" for contractors found slacking.

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Fed. Circ. Notes Ambiguity In VA Data Migration Procurement

By Madeline Lyskawa

A Federal Circuit judge on Wednesday acknowledged that a U.S. Department of Veterans Affairs solicitation for data migration services was confusing, but challenged a protester's attorney to answer why his client never asked for clarification during the procurement.

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BlackSky Satellite SPAC Suit Settles In Del. For $7.5M

By Lauren Berg

Special purpose acquisition company Osprey and several of its top brass on Wednesday reached a $7.5 million deal to resolve litigation in Delaware Chancery Court alleging they protected their buy-ins while leaving public investors to suffer losses following a merger with satellite imaging company BlackSky.

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GAO Sustains Protest Over $18.2M Air Force Task Order

By Ganesh Setty

The U.S. Government Accountability Office has upheld a protest over the U.S. Air Force's $18.2 million award for maintaining its geographic information system, finding the Air Force failed to sufficiently investigate a potential organizational conflict of interest.

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Satellite Biz Chairman Sued After Flip-Flop On Lockheed Sale

By Elaine Briseño

A former Terran Orbital Corp. stockholder alleged in a potential class action Wednesday that the satellite company's co-founder flipped his stance on the $450 million sale to Lockheed Martin Corp. after being promised a $6 million bonus contingent on the transaction's completion.

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POLICY & REGULATION

Trump Exits Climate Pact, UN Orgs. He Says 'Conflict' With US

By Lauren Berg

President Donald Trump announced Wednesday he is withdrawing the United States from a decades-old international agreement that brings the world's countries together to take action against climate change, as well as 65 other international organizations and treaties that are "contrary to the interests" of the U.S.

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FCC Plans To Raise Power Limits For Unlicensed 6 GHz Use

By Christopher Cole

The Federal Communications Commission plans to vote this month on whether to expand unlicensed uses of the 6 gigahertz airwaves, aiming to make more room for Wi-Fi, the Internet of Things and augmented and virtual reality.

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ENFORCEMENT

DOJ To Appeal Reinstatement Of Clearance For Mark Zaid

By Jared Foretek

The Trump administration told a D.C. federal judge on Wednesday that it will obey his injunction to reinstate attorney Mark Zaid's security clearance as it appeals the ruling in the D.C. Circuit, but left open the possibility that government intelligence agencies could try to revoke it again for new reasons.

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LITIGATION

Next Boeing 737 Max Ethiopian Air Trial Kicks Off Monday

By Celeste Bott

The latest wrongful death case against Boeing over the Ethiopian Airlines Boeing 737 Max 8 crash of 2019 is teed up for trial in Chicago on Monday, where jurors will determine damages for a man who lost multiple family members.

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Injunction Protecting TSA Labor Contract Is Moot, Feds Says

By Ben Adlin

The U.S. Department of Homeland Security should be allowed to proceed with plans to terminate a labor contract covering Transportation Security Administration workers, the Trump administration told a Seattle federal judge, claiming that a preliminary injunction issued by the court in June no longer applies.

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Judge Seeks Assurance That PFAS Deals Are Good For NJ

By George Woolston

A New Jersey federal judge on Wednesday asked attorneys for the state to assure that two proposed deals with 3M and E.I. du Pont de Nemours & Co. worth nearly $3 billion to resolve its claims over contamination by "forever chemicals" are in the best interest of the state's residents despite a number of objections.

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Workers Pitch 100K Class In Aerospace Co. Forfeiture Suit

By Grace Elletson

Two workers urged a Virginia federal judge to grant class certification to their suit claiming RTX Corp. illegally used forfeited retirement funds to pay its own contribution expenses, arguing the case is best fit for class treatment given that they seek to represent 100,000 plan participants.

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Brief

Incora Minority Noteholders To Appeal 'Uptier' Loss

By Hilary Russ

Minority noteholders that lost collateral rights in a 2022 financing deal at aircraft parts supplier Incora will appeal a decision by a Texas federal judge that had upheld the debt exchange, according to a notice filed Tuesday.

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EXPERT ANALYSIS

Key Trends In PFAS Regulation And Litigation For 2026

As 2026 begins, the legal and regulatory outlook for per- and polyfluoroalkyl substances is defined less by sweeping federal initiatives and more by incremental adjustments, judicial guardrails and state-driven regulations — an environment in which proactive risk management and close monitoring of policy developments will be essential, say attorneys at MG+M.

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Series

Law School's Missed Lessons: Intentional Career-Building

A successful legal career is built through intention: understanding expectations, assessing strengths honestly and proactively seeking opportunities to grow and cultivating relationships that support your development, say Erika Drous and Hillary Mann at Morrison Foerster.

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LEGAL INDUSTRY

McGlinchey Stafford To Close After 51 Years

By Emma Cueto

New Orleans-based firm McGlinchey Stafford PLLC announced Tuesday that it has decided to wind down operations after over half a century, citing difficult market conditions and unspecified "internal circumstances."

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Law Firms Step Up To Navigate Biz Opportunities In Venezuela

By Lynn LaRowe and Adrian Cruz

Law firms are gearing up to assist clients exploring potential business opportunities in Venezuela following President Donald Trump's announcement that the U.S. would "run" the country for the time being after the arrest of former Venezuelan President Nicolás Maduro on narco-conspiracy charges.

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Cruz Tells House Speaker To Move On Judicial Impeachments

By Courtney Bublé

Ahead of a hearing on impeachment of "rogue judges" on Wednesday, Sen. Ted Cruz, R-Texas, increased pressure on House Speaker Mike Johnson, R-La., to advance impeachment proceedings against federal judges in D.C. and Maryland.

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Bulk Of SDNY Attys Are Tasked With Reviewing Epstein Docs

By Hailey Konnath

Over half of the more than 220 assistant U.S. attorneys at the U.S. Attorney's Office for the Southern District of New York have been tasked with sifting through documents related to the investigation of the late financier and sex offender Jeffrey Epstein, according to a Justice Department disclosure filed in federal court.

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Feds Want To Use Goldstein's Comments To NYT At Trial

By Jared Foretek

Federal prosecutors preparing to try SCOTUSblog founder Tom Goldstein for tax crimes next week are looking to use his comments in a New York Times Magazine article against him, claiming that admissions and details from the article "directly prove" certain charges the government has brought.

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DOJ Nominee Says He'll Work Within Blue-Slip 'Parameters'

By Courtney Bublé

A nominee for a top U.S. Department of Justice position that handles judicial nominees appeared to give a nod to the Senate's blue-slip process, despite President Donald Trump's vocal opposition to the tradition.

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Jurisdiction Questioned In NY Fried Frank Data Breach Suit

By Emily Sawicki

A New York federal judge is threatening to toss a proposed class action data security suit against Fried Frank Harris Shriver & Jacobson LLP over a data breach involving private equity funds maintained by firm client Goldman Sachs, unless plaintiffs properly plead that the Manhattan court has jurisdiction.

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Objector To PACER Overcharge Settlement Faces Uphill Battle

By Emily Sawicki

An objector to a $125 million settlement to end class claims alleging the federal government overcharged nonprofits and other lawyers to access court documents faced a skeptical Federal Circuit panel Wednesday, with judges indicating they had not found legal errors in the district court's approval of the deal.

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COMPANIES IN TODAY'S NEWS

3M Co.

AT&T Inc.

American Federation of Government Employees

American Federation of Labor & Congress of Industrial Organizations

American Water Works Association

Association of Flight Attendants-CWA

BlackRock Inc.

Chevron Corp.

Collins Aerospace Inc.

Corteva Inc.

Democracy Fund

DuPont de Nemours Inc.

Ethiopian Airlines Enterprise

Fort Point Capital

Incora

Institute for Justice

Investments Ltd.

JPMorgan Chase & Co.

Lockheed Martin Corp.

Massachusetts Institute of Technology

National Veterans Legal Services Program

Pacific Investment Management Co. LLC

Platinum Equity LLC

Pratt & Whitney

RTX Corp.

The Goldman Sachs Group Inc.

The New York Times Co.

Union of Concerned Scientists

World Resources Institute

LAW FIRMS IN TODAY'S NEWS

Baker Botts

Baker McKenzie

Barnard Iglitzin

Block & Leviton

Bredhoff & Kaiser

Bressler Amery

Clifford Law Offices

Cooch & Taylor

Cotchett Pitre

Covington & Burling

Dann Law Firm

Dema Law

DiCello Levitt

Dorsey & Whitney

Feldesman LLP

Fried Frank

Grant & Eisenhofer

Groom Law Group

Gupta Wessler

Hinshaw & Culbertson

Holland & Knight

Hollingsworth LLP

Jenner & Block

Kelley Drye

Kline & Specter

Kohn Swift

Koskoff Koskoff

Kreindler & Kreindler

Lankford & Reed

Lowell & Associates

Manning Gross

Maraziti Falcon

Matthew G. Miller PC

Mayer Brown

McCarter & English

McGlinchey Stafford

Meyner & Landis

Monteverde & Associates

Morris Nichols

Morrison & Foerster

Motley Rice

Munger Tolles

Murphy Orlando

Norris McLaughlin

Perkins Coie

Podhurst Orseck

Potter Anderson

Schwartz White

Spiro Harrison

Susman Godfrey

Taft Stettinius

Webster Book LLP

Wiley Rein

WilmerHale

Wilson Sonsini

Winston & Strawn

GOVERNMENT AGENCIES IN TODAY'S NEWS

Delaware Court of Chancery

Executive Office of the President

Federal Aviation Administration

Federal Bureau of Investigation

Federal Communications Commission

Navajo Nation

New Jersey Department of Environmental Protection

Transportation Security Administration

U.S. Air Force

U.S. Attorney's Office

U.S. Attorney's Office for the Southern District of New York

U.S. Attorney's Office for the Western District of Washington

U.S. Court of Appeals for the District of Columbia Circuit

U.S. Court of Appeals for the Federal Circuit

U.S. Court of Appeals for the Fifth Circuit

U.S. Department of Defense

U.S. Department of Homeland Security

U.S. Department of Justice

U.S. Department of State

U.S. Department of Veterans Affairs

U.S. District & Bankruptcy Courts of Southern District of Texas

U.S. District Court for the District of Columbia

U.S. District Court for the District of Maryland

U.S. District Court for the District of New Jersey

U.S. District Court for the District of South Carolina

U.S. District Court for the Eastern District of Virginia

U.S. District Court for the Northern District of California

U.S. District Court for the Northern District of Illinois

U.S. District Court for the Southern District of Florida

U.S. District Court for the Southern District of New York

U.S. District Court for the Western District of Washington

U.S. Environmental Protection Agency

U.S. Government Accountability Office

U.S. House of Representatives

U.S. Securities and Exchange Commission

U.S. Supreme Court

United Nations