Inovalon Investors Reach $44M Deal Over $7.3B Take-Private

By Jarek Rutz

Inovalon Holdings Inc. investors have agreed to a $44 million settlement to end their Delaware Chancery Court suit challenging the healthcare data company's $7.3 billion take-private sale to a Nordic Capital-led consortium, resolving claims that stockholders were misled about conflicts involving the deal's financial advisers.

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

Alteryx Stockholders' 'Cleansing' Vote Dooms $4.4B Sale Suit

By Jarek Rutz

The Delaware Chancery Court has dismissed a stockholder suit challenging the $4.4 billion sale of analytics software company Alteryx Inc. to private equity firms Insight Venture Management LLC and Clearlake Capital Group LP, finding that an overwhelming stockholder vote approving the deal wiped out the investors' fiduciary duty claims.

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

Local Publishers Say OpenAI, Microsoft Stole Their News

By Craig Clough

More than two dozen regional, local, trade and specialty publishers have sued OpenAI Inc. and Microsoft Corp. in New York federal court, alleging the companies copied hundreds of thousands of copyrighted articles without permission to train products including ChatGPT and Microsoft Copilot.

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

Auto Lender OKs $709.5M Multistate Deal Over Subprime Loans

By Brian Steele

The subprime auto lender Credit Acceptance Corp. has agreed to provide $709.5 million in cash and debt relief as part of a 40-state settlement to resolve allegations that it originated loans to borrowers who could not afford them, attorneys general announced Thursday.

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

1st Circ. Lets HUD Shift $1.3B In Homelessness Aid

By Carolyn Muyskens

A First Circuit panel said the U.S. Department of Housing and Urban Development may redirect $1.3 billion in homelessness funding from programs that focus on permanent housing to those supporting temporary shelter and assistance, finding the Trump administration likely was not required to go through a notice-and-comment procedure.

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

Ore. Judge Denies HHS' Attempt To Amend Gender Care Order

By Dan McKay

An Oregon federal judge on Thursday rejected the Trump administration's bid to narrow an earlier order that voided a policy declaration central to the government's crackdown on gender-affirming care for minors.

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

'Bad Middle School Art' Tests Penn State's Counterfeit Bid

By Ivan Moreno

A Third Circuit panel appeared reluctant Thursday to treat all of Vintage Brand's retro Penn State merchandise as counterfeit, even as the judges expressed skepticism about the print-on-demand retailer's broader bid to overturn a jury verdict finding that its unlicensed use of university marks infringed Penn State's trademarks.

Read full article » | Save to favorites »

NFL Agent Blocked From Defending Poaching Suit, 3rd Circ. Told

By P.J. D'Annunzio

Counsel for NFL agent Todd France told a Third Circuit panel Thursday that his client was deprived of the opportunity to fight allegations that he poached another agent's client, asking the court to vacate an $810,846 arbitration award against him.

Read full article » | Save to favorites »

How Boards, Lenders Can View ABC Bankruptcy Alternative

The broader adoption of the Uniform Assignment for the Benefit of Creditors Act, including Delaware's recent statute, gives boards and lenders a clearer framework for a familiar middle-market problem: companies too small to justify Chapter 11 economics but too complex for an unmanaged shutdown, says Jon Labovitz at Sherwood.

Read full article » | Save to favorites »

Senior Lawyers Survey: Tell Us About Your Career

How are senior lawyers adapting to evolving career paths and emerging technologies? Share your perspective in this five-minute survey.

Read full article » | Save to favorites »

Analysis

Attys 'Itching' To Join Congressional Probes Of Trump Admin

By Phillip Bantz

Efforts to recruit high-powered lawyers to Capitol Hill to potentially lead congressional committee probes into the various dealings of President Donald Trump's administration are gaining momentum as Democrats push to retake control of Congress in the quickly approaching midterm elections.

Read full article » | Save to favorites »

Ex-DOJ Chief Lambastes 'Abuses Of Power' In Goldstein Case

By Jeff Overley

The U.S. Department of Justice constantly made false statements in its criminal case against famed appellate advocate Tom Goldstein, and his convictions must be erased because "prosecutorial misconduct pervaded every stage of the proceedings," a former DOJ prosecutor told the Fourth Circuit.

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

Roundup

Taxation With Representation: Davis Polk, Latham, Sullivan

By Zak Kostro

In this week's Taxation With Representation, a group backed by Michael Dell's family office and Sequence Holdings acquires a majority interest in The Baldwin Group, May Mobility merges with a blank check company, and Infineon Technologies sells its memory chip business to Winbond Electronics.

Read full article » | Save to favorites »

Ex-Wis. Judge Keeps License Amid ICE Conviction Appeal

By Ryan Boysen

The ex-Wisconsin judge convicted of obstructing an ICE arrest will remain an attorney in good standing while she appeals, after the Supreme Court of Wisconsin declined to suspend her law license.

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

Richards Layton Litigator Selected For Chancery Seat In Del.

By Rose Krebs

A Richards Layton & Finger PA attorney has been nominated by Delaware Gov. Matt Meyer to serve on the bench of the nationally important Chancery Court, a venue that adjudicates some of the biggest corporate law cases.

Read full article » | Save to favorites »

Judge Questions Whether 'Lawfare' Fund Fight Is Really Moot

By Jared Foretek

A Virginia federal judge seemed unlikely to toss a challenge to the Trump administration's nixed "Anti-Weaponization Fund" and tax audit immunity for the Trump family Friday, saying she worries the fund could be revived in a different form down the road.

Read full article » | Save to favorites »

Chief US District Judge In SC To Take Senior Status Oct. 1

By Courtney Bublé

Chief U.S. District Judge Timothy Cain of the District of South Carolina has informed the president that he will be taking semiretired status on Oct. 1, according to an update posted Friday by the federal judiciary.

Read full article » | Save to favorites »

Roundup

GC Cheat Sheet: The Hottest Corporate News Of The Week

By Michele Gorman

Starbucks settled a high-profile discrimination suit with Florida over its diversity, equity and inclusion policies, agreeing not to use race- or sex-based goals in hiring and promoting. And the SEC floated changing how publicly traded companies seek shareholder input, including promising to end one pathway for shareholders to place their proposals on corporate ballots. These are among the stories in corporate legal news you may have missed in the past week.

Read full article » | Save to favorites »

Reed Smith Defends Docs Production In Ex-Atty's Bias Suit

By Jake Maher

Reed Smith LLP urged a New Jersey court on Thursday to reject an "impulsive" motion from a former attorney suing it for gender discrimination seeking to strike its answer and affirmative defenses.

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

Law360's Legal Lions Of The Week

By Kevin Penton

Schemery Zicolello leads this week's edition of Law360 Legal Lions, after a Third Circuit panel ruled that police cannot conduct warrantless strip searches outside of jails or prisons absent consent or an emergency.

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 »