A New York federal judge on Wednesday trimmed a proposed class action alleging USB Financial Services Inc. put customers' money in low-yielding "cash sweep" accounts in breach of their contract, tossing a single duplicative unjust enrichment claim but allowing the contract claims to proceed.
Law360
Commercial Contracts
FRIDAY, MARCH 27, 2026 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

UBS Must Face Class Action Over Low-Yield Sweep Accounts

By Dorothy Atkins

A New York federal judge on Wednesday trimmed a proposed class action alleging USB Financial Services Inc. put customers' money in low-yielding "cash sweep" accounts in breach of their contract, tossing a single duplicative unjust enrichment claim but allowing the contract claims to proceed.

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

Official Says DOJ Watching Essential Patent Antitrust Cases

By Ryan Davis

A U.S. Department of Justice Antitrust Division official said Wednesday the agency is closely monitoring antitrust disputes over standard essential patents, aiming to ensure that proper analyses of market power are undertaken and that most patent suits are exempted from causing antitrust liability.

Read full article » | Save to favorites »

Fla. Appeals Panel Turns Poetic In Warning About AI Misuse

By Madison Arnold

A Florida state appeals court on Wednesday admonished a pro se litigant for using AI-hallucinated case citations in his ultimately unsuccessful appeal of a lower court ruling enforcing a settlement agreement with an investment company, with the panel citing an AI-generated limerick to get its point across.

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

LEGAL ETHICS & MALPRACTICE

Winston & Strawn Wants Hunter Biden To Respond In Fee Row

By Lynn LaRowe

Winston & Strawn LLP has asked the D.C. Superior Court to force Hunter Biden to fully respond to interrogatories in its lawsuit against the former president's son over unpaid legal bills, after Biden conducted an incomplete "hand search" of documents at issue.

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

Ex-Partner Seeks 2,000 Client Notices In NC Estate Firm Fight

By Abigail Harrison

After nearly two hours of argument in which counsel for the founding partner of a trusts and estates law firm argued that the firm should have to notice his departure to thousands of clients, a North Carolina Business Court judge seemed a bit perplexed Wednesday as to why the parties didn't resolve the client list spat with a North Carolina State Bar ethics opinion.

Read full article » | Save to favorites »

POLICY & REGULATION

AbbVie, Novartis Sue Wash. Over New 340B Drug-Pricing Law

By Rachel Riley

Pharmaceutical giants Novartis and AbbVie say a new Washington state law illegally expands drugmakers' obligations to provide deeply discounted medications under the federal government's 340B Drug Pricing Program, according to a pair of legal challenges launched in federal court on Wednesday.

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

LIFE SCIENCES

Co.'s Dual Citizenship Doesn't Kill Jurisdiction, 4th Circ. Told

By Hayley Fowler

A medical supply company urged the Fourth Circuit on Wednesday to revive its suit against a U.K. company over COVID-19 test kits, arguing the Chinese citizenship of one of its members doesn't destroy a North Carolina federal judge's ability to hear the case.

Read full article » | Save to favorites »

REAL ESTATE & DEVELOPMENT

Biotech 'Lowballed' Landlord On Lease Exit, Suit Says

By Julie Manganis

Biopharma company Werewolf Therapeutics has offered its Massachusetts landlord little more than 10 cents on the dollar to buy out the remainder of a lease for its lab space, even as the firm pays out departing executives and other creditors, according to a lawsuit brought in state court.

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

Brokers Claim CBRE Withheld Pay On Legal Tenant Deal

By Charlie Innis

Three brokers are accusing CBRE of diverting $4 million in commissions from a Washington, D.C., office tenancy deal with a legal industry client to others who didn't substantively work on the transaction, according to a D.C. federal suit.

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

Lender Targets Borrower, Guarantor In $3.8M Default Suit

By Jarek Rutz

A Delaware lender has sued a group of real estate investors and affiliated entities in Delaware Chancery Court, accusing them of defaulting on a $3.8 million mezzanine loan and then diverting collateral to avoid repayment.

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

INSURANCE

Insurers, Brokers Can't Exit Medicare Advantage Steering Suit

By Julie Manganis

A Massachusetts federal judge on Wednesday largely rejected a bid by insurers and brokers to toss claims that they colluded in a kickback scheme to steer Medicare Advantage customers to certain companies and to push away disabled individuals.

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

FINTECH

Payments Co. Sued Over $3M Liquidity Pool Loan Default

By Sydney Price

Payken is facing a Delaware Chancery Court lawsuit alleging the blockchain-based payments company owes roughly $3.2 million after breaching a master credit agreement and failing to repay loans owed to a jointly owned lending vehicle created to provide it with liquid assets.

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

INTELLECTUAL PROPERTY

Lighting Co. Kenall Gets 5% Royalty, No Lost Profits In IP Row

By Elliot Weld

A Chicago federal judge has said a lighting manufacturing company was owed royalties for patent infringement by a rival after a bench trial, telling the parties to meet and calculate how much should be owed in enhanced damages.

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

MEDIA & ENTERTAINMENT

Oak View Exec Tells Jury Of Deal To Hype Ticketmaster

By Stewart Bishop

The CEO of Oak View Group told a Manhattan federal jury Wednesday that his company didn't inform other venue owners that it was being paid to "advocate" for them to use Ticketmaster as a vendor for ticketing services, but said he still would recommend the Live Nation subsidiary anyway since it's the best in the business.

Read full article » | Save to favorites »

Herschel Walker Campaign, Media Firm Wrap Up Contract Suit

By Kelcey Caulder

The campaign for former NFL star Herschel Walker's losing U.S. Senate bid and a Texas-based media firm that the campaign accused of charging inflated costs for advertising buys have reached an agreement to end their legal battle in Georgia federal court. 

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

BANKRUPTCY

Serta Lenders End Trial Over 'Uptier' Ahead Of Summer Ruling

By Alex Wittenberg

Lenders to Serta Simmons Bedding presented closing arguments in Texas bankruptcy court Wednesday in a trial over damages that investors excluded from the mattress maker's 2020 "uptier" deal say they should be awarded, an issue which the presiding judge expects to decide on in the next few months.

Read full article » | Save to favorites »

TELECOMMUNICATIONS

Brief

Lumen Says Telecom's Been Charging It For Toll-Free Calls

By Nadia Dreid

National telecommunications company Lumen Technologies once again filed suit against a fellow telecom it accuses of spending the last 4.5 years charging it for transferring calls that were supposed to be toll-free.

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

LEGAL INDUSTRY

White & Case Staffer Sues Firm Over Nude Photo Ridicule

By Dorothy Atkins

A White & Case LLP staffer sued the law firm in New York state court Wednesday, alleging the firm's purported "hostile work environment" shielded his colleagues after they allegedly shared nude photos of him, which he claims were taken by his supervisor while he was unconscious at a firm-sponsored party.

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

Akin Must Explain Client's 'Self-Indulgent' 9th Circ. Appeal

By Lauren Berg

Upholding a foreign arbitration award against a wine importer, the Ninth Circuit on Thursday ordered its attorneys at Akin Gump Strauss Hauer & Feld LLP to explain why they and their client shouldn't pay their opponent's attorney fees for bringing a "frivolous" and "self-indulgent" appeal.

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

Troutman, Former Associate Fight Over Scope Of Bias Trial

By Emily Sawicki

Weeks ahead of an anticipated May trial over discrimination and retaliation claims brought by a former Troutman Pepper Hamilton Sanders LLP associate, the firm and its onetime employee are sparring over the scope of evidence that may be presented at trial.

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

Maduro Judge Hints US Should Reconsider Legal Fee Refusal

By Pete Brush

A Manhattan federal judge suggested Thursday that the Trump administration should revisit its refusal to allow former Venezuelan President Nicolás Maduro to access his country's funds to pay for his defense against narco-terrorism and trafficking charges.

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

Antitrust Leaders Say Lobbyists Don't Impact Outcomes

By Matthew Perlman

The leaders of the Federal Trade Commission and U.S. Department of Justice's Antitrust Division said Thursday that companies can lobby the agencies all they want, but enforcers will still make merger and conduct decisions based on the facts and the law.

Read full article » | Save to favorites »

Bill To Give Admin More Control Over US Attys Advances

By Courtney Bublé

A Republican-led bill that would give the executive branch more authority over the installation of U.S. attorneys was advanced out of a House committee Thursday.

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

Promo that reads 2025 Practice Groups of the Year

LAW FIRMS IN TODAY'S NEWS

Akin Gump

Arete Law Group

Arnold & Porter

Ballard Spahr

Benesch

Berger Montague

Bernstein Litowitz

Brady Cobin

Chaiken Ghali

Coburn & Greenbaum

Cravath Swaine

Crowell & Moring

Eisenberg & Baum

Epstein Becker

Foley & Lardner

Gibson Dunn

Greenberg Traurig

Harris St. Laurent

Hogan Lovells

Jansson Munger

Katten Muchin

Kirkland & Ellis

Latham & Watkins

Littler Mendelson

Marshall Gerstein

Maynard Nexsen

McDermott Will & Schulte

McGuireWoods

McNaul Ebel

Noble Law Firm

Nutter McClennen

Oak City Law

Parker & Sanchez

Paul Weiss

Porter Hedges

Proskauer Rose

Quinn Emanuel

Robinson Bradshaw

Schwed Kahle

Sherin & Lodgen

Simpson Thacher & Bartlett

Troutman

White & Case

Wigdor LLP

Wiley Rein

Williams & Connolly

Williams Dirks

Winston & Strawn

COMPANIES IN TODAY'S NEWS

AbbVie Inc.

Aetna Inc.

Alexandria Real Estate Equities Inc.

Allergan PLC

CVS Health Corp.

Center for Strategic and International Studies

ConvergeOne Inc.

Dell Technologies Inc.

Elevance Health Inc.

FGS Global Inc.

Hewlett Packard Enterprise Co.

Humana Inc.

Inteliquent Inc.

InterDigital Inc.

Juniper Networks Inc.

Live Nation Entertainment Inc.

Lumen Technologies Inc.

Marriott International Inc.

Netlist Inc.

North Carolina State Bar

Pharmacyclics, Inc.

Samsung Electronics Co. Ltd.

Serta Simmons Bedding LLC

Teliax

Therapeutics Inc.

UBS Group AG

eHealth, Inc.

GOVERNMENT AGENCIES IN TODAY'S NEWS

Delaware Court of Chancery

European Union

Federal Reserve System

Federal Trade Commission

International Trade Commission

New York Supreme Court, New York County

Office of Foreign Assets Control

Superior Court of Massachusetts

U.S. Attorney's Office

U.S. Attorney's Office for the District of Massachusetts

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

U.S. Court of Appeals for the Fourth Circuit

U.S. Court of Appeals for the Ninth Circuit

U.S. Department of Justice

U.S. Department of the Treasury

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 Massachusetts

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

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

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

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

U.S. Patent and Trademark Office

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

United Nations

United States District Court for the District of Colorado

Washington State Health Care Authority