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TOP NEWS
Justices Seem To Support End To Intel 401(k) Fund Suit
By Kellie Mejdrich
The U.S. Supreme Court appeared likely Tuesday to affirm a Ninth Circuit decision ending a federal benefits dispute against Intel Corp. from ex-workers who alleged that underperforming 401(k) funds breached fiduciary duties, as multiple justices indicated support for requiring that claims predicated on underperformance include meaningful comparisons.
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Groq Investors Sue Over Nvidia's $20B 'Reverse Acqui-Hire'
By Jarek Rutz
Two former Groq Inc. stockholders have sued the artificial intelligence chip company's directors and a former officer, alleging in a Delaware Chancery Court complaint that they improperly handed Groq's technology and engineering workforce to Nvidia Corp. through a roughly $20 billion reverse acqui-hire without a stockholder vote or a process aimed at getting the best price.
Complaint attached |
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POLICY & REGULATION
LITIGATION
Sprout Social Must Face Suit Over Troubled Acquisition
By Katryna Perera
An Illinois federal judge on Tuesday denied a bid from Sprout Social Inc. to dismiss a proposed investor class action alleging the social media management company missed its financial guidance and struggled to integrate an influencer marketing platform it acquired, finding the suit's challenged statements are actionable and that the claims suggest the defendants knowingly committed fraud.
Order attached |
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Calif. Urged To Probe Emotional Intelligence Tool For Job Bias
By Dorothy Atkins
The American Civil Liberties Union on Tuesday filed a complaint with the California Civil Rights Department, asking the agency to investigate Criteria Corp.'s product for screening job applicants by so-called "emotional intelligence," which the ACLU claims raises "serious concerns" about whether the product encourages employers to illegally discriminate.
Complaint attached |
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