Exxon Ex-CEO Tells Jury Company Didn't Mislead Investors

By Spencer Brewer

Former Exxon Mobil Corp. CEO Rex Tillerson testified Friday that the company followed rules dictating annual reports to investors when it came to detailing its Kearl Lake reserves, telling a jury in Texas federal court that the energy giant did not mislead investors.

Read full article » | Save to favorites »

Analysis

What To Watch For As Meta Stares Down NM Injunction Trial

By Cara Salvatore

The attorney general who convinced a jury to penalize Meta Platforms Inc. $375 million for teen mental health harms now faces a critical follow-up bench trial to fight for a suite of court orders that Meta claims would force "a different Instagram to exist in New Mexico."

Read full article » | Save to favorites »

Analysis

5 Argument Sessions Benefits Attys Should Watch In May

By Kellie Mejdrich

HP, Siemens and Honeywell will defend victories in 401(k) forfeiture suits at the Ninth and Third circuits, while union pensioners will battle over life insurance and early retirement benefits at the Tenth and Seventh circuits. Here, Law360 looks at five coming oral argument sessions that benefits attorneys may want to keep an eye on.

Read full article » | Save to favorites »

Benefits Co. Inks $3M Deal To End Worker's Tobacco Fee Suit

By Kellie Mejdrich

A benefits and claims administration company will pay $3 million to end an employee's proposed class action alleging a tobacco fee on her health plan violated federal benefits law, according to the terms of the proposed deal filed in Tennessee federal court Friday.

2 documents attached | Read full article » | Save to favorites »

Steel Firm Workers Get OK For $1.8M ESOP Deal, $600K Fee

By Melanie Dorsey

A Michigan federal judge has approved a $1.8 million class settlement resolving claims that trustees of a steel company employee stock ownership plan overpaid for company stock, finding the deal "fair, reasonable and adequate" and in the best interest of plan participants. 

1 document attached | Read full article » | Save to favorites »

TD Bank Says 'Call Ready' Policy Didn't Force OT

By MJ Koo

TD Bank asked a New Jersey federal court to toss a proposed collective action over its "call ready" policy, arguing the former call center worker who brought the suit failed to identify any workweek in which unpaid boot-up and shutdown time pushed her over the 40-hour overtime threshold.

Motion attached | Read full article » | Save to favorites »

Streamers Say They're Not Like App Dog Walkers In Pay Suit

By Benjamin Morse

Performers for an adult livestream platform urged a Connecticut federal judge Friday to reject the platform operators' reliance on a ruling that found a dog-walking app was not a service provider with employees, arguing the out-of-state decision has no bearing on whether the performers were misclassified as independent contractors.

Memorandum attached | Read full article » | Save to favorites »

Humana Investor Suit Largely Survives Dismissal Bid

By Emilie Ruscoe

Health insurer Humana can't shed proposed class action claims it misled investors about the financial impact it would see from pent-up demand for healthcare deferred amid the COVID-19 pandemic, a Delaware federal judge has determined.

Order attached | Read full article » | Save to favorites »

Investors Lose Contract Claims In Del. Over Stock Financing

By Jarek Rutz

The Delaware Chancery Court has dismissed contract-based claims brought by early investors in materials science company Footprint International Holdco Inc., finding that they could not invoke the implied covenant of good faith and fair dealing to add protections to a governance agreement after a disputed financing allegedly wiped out much of the value of their preferred stock.

Opinion attached | Read full article » | Save to favorites »

Twist Bioscience Investors Seek $17M Stock Fraud Deal OK

By Bonnie Eslinger

Twist Bioscience Corp. and two executives asked a California federal court to give preliminary approval to a $17 million deal they inked with investors to resolve class allegations the company misrepresented that its technology could produce synthetic DNA at higher quality and lower cost than competitors.

Motion attached | Read full article » | Save to favorites »

No Deal To Blackball 'Early Decision' Students, Judge Told

By Carolyn Muyskens

A federal judge in Boston heard elite universities argue Friday that the "early decision" admissions process is not a scheme to raise tuition but an option for students who want a better shot at admission to their first-choice school.

Read full article » | Save to favorites »

Mortgage Giants Want Homeowners' Price-Fixing Suit Tossed

By Isaac Monterose

A group of mortgage originators and several software companies told a Tennessee federal court that a proposed price-fixing class action should be tossed because the plaintiffs didn't plausibly allege that the originators used certain software for a nationwide price-fixing conspiracy involving residential mortgage rates.

2 documents attached | Read full article » | Save to favorites »

All Buyers Hurt By Fanatics' Monopoly, Customers Tell Judge

By David Steele

Trading card customers who did not buy directly from Fanatics or their sports league partners are still victims of the companies' quest to monopolize the market, the buyers fighting to keep their lawsuit alive told a New York federal judge on Thursday.

2 documents attached | Read full article » | Save to favorites »

Amazon Accused Of Selling Kids Sunscreen With Lead

By Emily Field

Consumers on Thursday hit Amazon with a proposed class action in Washington federal court alleging that children's sunscreens it sells are contaminated with heavy metals such as lead and that its artificial intelligence shopping assistant Rufus doesn't disclose details about the product ingredients.

Complaint attached | Read full article » | Save to favorites »

Ex-Drexel Athlete Sues UMich Over Coach Hacking Scandal

By Melanie Dorsey

A former Drexel University student-athlete has filed a lawsuit in Michigan federal court accusing the University of Michigan, its regents, Drexel and others of enabling a yearslong hacking scheme by former assistant football coach Matthew Weiss that allegedly exposed thousands of athletes' private data and intimate images. 

Complaint attached | Read full article » | Save to favorites »

Forbes Strikes $10M Deal In Calif. Tracker Privacy Suit

By Craig Clough

A proposed class of Forbes.com website users has asked a California federal judge to preliminarily approve a $10 million settlement to resolve claims that Forbes Media violated Golden State privacy laws by using third-party tracking technologies on its website to collect and share visitors' data without their consent.

Settlement attached | Read full article » | Save to favorites »

Judge Hits Brakes On Privacy Suit Over Unpaid Parking Bill

By Aneeta Mathur-Ashton

A Florida federal judge has dismissed a proposed class action accusing a parking company of illegally accessing driving records when charging delinquent drivers, saying the plaintiff suffered no injury.

Order attached | Read full article » | Save to favorites »

Wells Fargo Customer Gets TransUnion Class Certified

By Matthew Santoni

A Wells Fargo customer whose TransUnion LLC credit report kept showing a purportedly fraudulent transaction can now represent nearly 281,000 similarly situated people in a class action against the credit reporting agency, a Pennsylvania federal judge has ruled.

2 documents attached | Read full article » | Save to favorites »

Pharma Co. Investor Sues Over Misleading Aurinia Deal

By Lauraann Wood

A Kezar Life Sciences investor has filed suit asking an Illinois federal judge to halt the company's planned acquisition by a Canadian biopharmaceutical company's U.S. unit unless Kezar fixes the "incomplete and misleading" regulatory filings it submitted regarding the transaction.

Complaint attached | Read full article » | Save to favorites »

Judge Won't Let Feds End Yemen TPS, Faults Review Process

By Rae Ann Varona

A New York federal judge on Friday blocked the Trump administration from ending temporary deportation protections for roughly 3,000 Yemeni nationals in the U.S. escaping dangerous conditions in their native country, saying the government ignored statutorily required termination procedures.

Opinion attached | Read full article » | Save to favorites »

Detainees Say DHS Can't Stop Collecting Biometric Info

By Tom Lotshaw

A half-dozen detained noncitizens asked a D.C. federal judge to overturn a U.S. Department of Homeland Security policy that allegedly blocks their ability to supply biometric information needed for some immigration benefit applications filed with U.S. Citizenship and Immigration Services.

Complaint attached | Read full article » | Save to favorites »

How 'Spillover' Effects Can Skew AI Securities Class Actions

Event study evidence is often central in securities litigation at class certification and beyond, but in an environment where earnings forecasts and statements can have spillover market implications, particularly when concerning artificial intelligence, the task of parsing out the price impact of news requires careful consideration, say Erik Johannesson, Olivia Wurgaft and Nguyet Nguyen at Brattle Group.

Read full article » | Save to favorites »

Q&A

How Paul Clement Does It All

By Katie Buehler

For most lawyers, getting to argue before the U.S. Supreme Court is a once-in-a-lifetime event, but for a select few, it's a common occurrence. Clement & Murphy PLLC name partner Paul Clement is one of those lawyers. 

Read full article » | Save to favorites »

Don't 'Throw' Young Attys Under Bus, Judge Warns Musk Atty

By Dorothy Atkins

The California federal judge presiding over Elon Musk's challenge to OpenAI's for-profit conversion criticized Musk's attorney Marc Toberoff on Friday for eliciting "waste of time" trial testimony into Musk's $97.4 billion acquisition bid, warning Toberoff he "shouldn't throw young lawyers under the bus" by not quickly acknowledging his role.

Read full article » | Save to favorites »

Law360's Legal Lions Of The Week

By Kevin Penton

Akin Gump Strauss Hauer & Feld LLP leads this week's edition of Law360 Legal Lions, after a California federal jury cleared Armistice Capital and two of its executives of class action claims that it pumped and dumped $250 million in Vaxart stock during the COVID-19 pandemic and violated federal securities law with insider trading.

Read full article » | Save to favorites »

Whistleblower Says DOJ Rushed SPLC Indictment

By Courtney Bublé

A whistleblower has come forward to say a top U.S. Department of Justice official ordered prosecutors in Alabama to "rush" the indictment of the Southern Poverty Law Center despite concerns about the viability of the case, according to Democrats on the House Judiciary Committee.

4 documents attached | Read full article » | Save to favorites »

California High Court Rejects Dunn's Bid To Nix Suspension

By Adrian Cruz

The California Supreme Court has declined to review a California State Bar decision to impose a one-year stayed suspension on former State Bar executive Joseph Dunn.

Read full article » | Save to favorites »

FTC, DOJ Say ABA Reliance Limits Law School Competition

By Matthew Perlman

The Federal Trade Commission and the U.S. Department of Justice Antitrust Division told the Tennessee Supreme Court the American Bar Association's monopoly over law school accreditations is driving up the cost of legal education.

2 documents attached | Read full article » | Save to favorites »

Analysis

SEC's Corp. Governance Shift Puts Onus On States, Cos.

By Sarah Jarvis

Lawyers who work with clients on corporate governance matters had a warm response to a recent pledge from U.S. Securities and Exchange Commission Chairman Paul Atkins to let states handle such issues, saying the shift marks a return to the agency's historical approach and may spur increased activity among state regulators.

Read full article » | Save to favorites »

Ex-Bondi Adviser Tapped As Fraud Task Force's Chief Lawyer

By Phillip Bantz

Ousted U.S. Attorney General Pam Bondi's former adviser is taking on a new role as general counsel for the White House's fraud task force.

Read full article » | Save to favorites »

Roundup

GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

A pair of proxy advisory firms have sued two state attorneys general over laws they say impose burdensome requirements for issuing recommendations that go against corporate managers' wishes. Meanwhile, KPMG reports that legal is evolving into a key driver of business performance, and AI is a core component of the department. These are some of the stories in corporate legal news you may have missed in the past week.

Read full article » | Save to favorites »

Roundup

The Top In-House Hires Of April

By Michele Gorman

Legal department hires during the past month included high-profile appointments at Intel, Colgate and Tripadvisor. Here, Law360 Pulse looks at some of the top in-house announcements from April.

Read full article » | Save to favorites »

Roundup

UK Litigation Roundup: Here's What You Missed In London

By Laura Stewart Liberty

The past week in London has seen a Swiss energy trader bring a Financial List claim against shipping benchmarking company Baltic Exchange, law firm Slater and Gordon sued by a former client, Slack and Salesforce hit Microsoft with an antitrust claim, and Stephen Fry bring a personal injury claim after he broke bones falling off a stage. Here, Law360 looks at these and other new claims in the U.K.

Read full article » | Save to favorites »

In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week.

Read full article » | Save to favorites »