Claude developer Anthropic PBC on Tuesday set a price range for its long-anticipated blockbuster initial public offering, telling U.S. regulators that it plans to raise around $61 billion in what could be the second-largest IPO ever.
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THURSDAY, NOVEMBER 12, 2026 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

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AI Giant Anthropic Launches Plans For Estimated $61B IPO

By Jade Martinez-Pogue

Claude developer Anthropic PBC on Tuesday set a price range for its long-anticipated blockbuster initial public offering, telling U.S. regulators that it plans to raise around $61 billion in what could be the second-largest IPO ever.

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9th Circ. Says SpaceX Firing Fight Can Stay Out Of Arbitration

By Rae Ann Varona

The Ninth Circuit ruled Tuesday that eight former SpaceX employees who claim they were fired for complaining about CEO Elon Musk's sexually charged social media posts may pursue their claims in court, saying the former employees did not have to "adequately allege" sexual harassment to avoid arbitration.

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Netflix Unable To Get Video IP Suit Thrown Out Under Alice

By Ryan Davis

A federal judge sitting in Delaware has rejected Netflix's attempt to escape a suit alleging that it infringed three video patents owned by an Irish licensing company, finding that the streaming giant hadn't shown that the claimed inventions are ineligible for patenting.

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Google Falls Short In Renewed SerpApi Scraping Suit

By Elliot Weld

A California federal judge has again found that Google's copyright infringement suit against internet scraping service SerpApi was deficient, saying the suit did not allege enough for the court to infer that the content at issue met the level of creativity for protection, but the judge allowed Google another chance to amend its case.

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Wachtell To Probe Nvidia CEO's Affair With Alleged China Spy

By Anna Scott Farrell and Sue Reisinger

Nvidia has hired Wachtell Lipton Rosen & Katz to lead an investigation into allegations that its founder and CEO had an affair with a business executive who U.S. intelligence believes is a Chinese spy, the artificial intelligence chipmaker said Tuesday.

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Dems Vow More FCC Oversight, Want Their Seats Filled

By Christopher Cole

Democrats promised Tuesday to bring top Federal Communications Commission officials to Capitol Hill for aggressive oversight next year, as they took issue with President Donald Trump's nomination of a third Republican to the regulatory body while he left a Democratic seat open.

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Analysis

AI, Bulk TM Apps Might Be Spurring Intent-To-Use Increase

By Theresa Schliep

The share of intent-to-use trademark applications filed in the U.S. has increased over the past two years, and attorneys say the burgeoning trend hints at the increasing prevalence of artificial intelligence tools in trademark prosecution, as well as lawyers opting to file many applications at once to see what sticks.

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MVP

MVP: Quinn Emanuel's Margret Caruso

By Madison Arnold

Margret Caruso of Quinn Emanuel Urquhart & Sullivan LLP led the team representing OpenAI Inc. in a trademark infringement action against Open Artificial Intelligence Inc. and obtained a victory at summary judgment, earning her a spot as one of the 2026 Law360 Technology MVPs.

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POLICY & REGULATION

House Dem Tells Agencies, Cos. To Preserve Trump Records

By Lauren Berg

A Democratic representative warned federal agencies and private companies, including The Boeing Co., Chevron Corp. and TikTok, that they must preserve all documents related to the House Committee on Natural Resources' investigations of the Trump administration, following whistleblower reports that materials have already been illegally destroyed.

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49 AGs Give FCC Tips On Strengthening Robocall Database

By Nadia Dreid

The nation's attorneys general have some suggestions for the Federal Communications Commission on what it could do to curb the onslaught of illegal robocalls, billions of which hound Americans each month.

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Banks Tells FCC Robocall Loopholes Must Be Closed

By Nadia Dreid

Bankers have come together to tell the Federal Communications Commission it's time to close some loopholes in the agency's anti-robocall regulations, including one that allows companies that have been booted from the compliance database to refile under a new name.

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Brief

FCC Urged To Dedicate More Airwaves For Satellite Use

By Nadia Dreid

The Federal Communications Commission's plan to open more than 200 megahertz of unlicensed spectrum up to satellite services such as direct-to-device technology is all well and good, said one industry organization, but the agency also needs to make some space for "dedicated satellite spectrum."

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LITIGATION

Fed. Circ. Won't Reopen Network Patent Case Against Cisco

By Elliot Weld

The Federal Circuit on Tuesday affirmed a judgment in favor of Cisco, dispensing with claims alleging the company owed as much as $121 million for infringing a set of communications network patents held by Corrigent Corp.

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11th Circ. Asked To Nix Penalties For Captive Deductions

By Zak Kostro

The U.S. Tax Court improperly imposed additional accuracy-related penalties against a Florida business for deductions it took for microcaptive insurance expenses, the business's owner told the Eleventh Circuit, saying the Tax Court's analysis of the case can't be reconciled with binding circuit precedent.

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CIT Can't Order Universal Tariff Refunds, Gov't Tells Fed. Circ.

By Dylan Moroses

The U.S. Court of International Trade's order requiring refunds for all importers who paid illegal tariffs should be deemed unlawful, the government told the Federal Circuit, saying U.S. Supreme Court precedent bars such universal relief.

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Amazon Photos Users Get Class Cert In Illinois BIPA Suit

By Craig Clough

An Illinois federal judge on Tuesday certified a class of Amazon Photos users alleging the company collected their facial biometric data without the notice and consent required by Illinois' Biometric Information Privacy Act, but rejected a proposed class of non-users pictured in others' photos.

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Anthropic Can't Ditch Ad Fight Over Claude Usage Rates

By Dorothy Atkins

A California federal magistrate judge has trimmed a proposed class action alleging Anthropic misleadingly marketed the usage offered in top-tier versions of the artificial intelligence chatbot Claude, ruling that "the advertising in question is plausibly misleading, so the case will move forward."

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CDK Nixes Tekion's Auto Dealer Software Monopoly Claims

By Matthew Perlman

A California federal court granted CDK Global LLC's request for summary judgment on Tuesday, tossing antitrust claims from rival auto dealership software provider Tekion Corp. after finding a lack of evidence showing CDK had monopoly power during the relevant time period.

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Judge Rejects Zillow's Redo Bid For Antitrust Suit Ruling

By Isaac Monterose

A Washington federal judge on Tuesday rejected Zillow Group Inc.'s reconsideration request for a prior ruling that refused to dismiss a proposed antitrust class action, which alleges that the property listing giant runs a monopoly that pushes affiliated real estate agents to refer homebuyers to the company's home loan approval services in exchange for client leads.

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Parking Lot Operators Stuck With Fla. Suit Over DMV Records

By David Minsky

A Florida federal judge ruled that parking lot operators must face a proposed class action brought by motorists who claimed the companies used license plate readers to obtain personal information and charge them fees, saying that violations of the Driver's Privacy Protection Act were sufficiently alleged.

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Unions Drop Fight Over Spirit Data Sale To Google

By MJ Koo

A flight attendants union said Tuesday that it and other unions have withdrawn their objections to Spirit Airlines' sale of former employees' data to Google in the airline's New York bankruptcy case, after securing new limits on the data included in the sale and safeguards for its de-identification.

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Workday Seeks To Unwind Collective In AI Hiring Bias Suit

By Patrick Hoff

Workday urged a California federal court on Tuesday not to allow workers to proceed as a group in their lawsuit alleging the company's artificial intelligence tools unlawfully discriminated against thousands of job applicants, saying the workers can't show that the tools were used against them in the same way.

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Developer Says Data Center Campus Suit Isn't Moot

By Isaac Monterose

A developer urged a Michigan federal court on Tuesday to not toss its suit against a local city that has blocked the developer's data center campus plans, arguing that the suit shouldn't be dismissed, in part, because the company's claims aren't moot.

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Microsoft Says Students' Data-Mining Allegations Fall Short

By Ben Adlin

Microsoft has urged a Washington state court to dismiss a proposed class action from four students who accused the company of collecting personal data through school-provided products such as Microsoft 365 and Minecraft Education, asserting that certain claims are federally preempted and that the students had no reasonable expectation of privacy.

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App Says Ex-Engineer Stole Secrets, Used AI To Plan Move

By Rae Ann Varona

Members-only hospitality platform Dorsia alleged Tuesday in New York state court that its former senior engineer used a company-paid Anthropic Claude account to strategize his departure to join rival startup Rumor and ignored the chatbot's warnings that he'd be "toast" if he brought Dorsia's confidential information with him.

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Stryker Shorted Wash. Workers On Breaks, Wages, Suit Says

By MJ Koo

A medical device company failed to provide Washington hourly workers with required meal and rest breaks, underpaid their wages and restricted their ability to discuss their pay, according to a proposed class action removed to Washington federal court.

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LA Cannabis Retailer Sued Over Email 'Spy Pixels'

By Jonathan Capriel

A Los Angeles dispensary placed "malicious" code in marketing emails that spied on a consumer and recorded when she opened the messages and her location, forwarding the information to data-broker vendors, according to a California state lawsuit which seeks $1,000 per email and $5,000 per privacy violation.

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Brief

Full Fed. Circ. Won't Hear ClearPlay's Axed $469M IP Verdict

By Elliot Weld

The full Federal Circuit has refused to review ClearPlay's argument that it should reinstate a $469 million jury award for patent infringement against Dish Network LLC, which a district judge later wiped out.

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DEALS

Oura Buys Healthcare AI Platform In $625M Deal

By Jade Martinez-Pogue

Health intelligence platform Oura, advised by Latham & Watkins LLP, on Tuesday unveiled plans to acquire artificial intelligence-native primary care company Counsel Health in a $625 million deal.

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Zacua Ventures Clinches 2nd Fund With $135M In Tow

By Jade Martinez-Pogue

Venture capital firm Zacua Ventures, which invests in the construction, manufacturing, energy, mining and infrastructure sectors, on Tuesday announced that it wrapped its second fund with $135 million in tow.

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RV Parts Maker LCI Says Revised Monomoy Bid Isn't Superior

By Al Barbarino

LCI Industries said Tuesday it has rejected a second buyout offer from Monomoy Capital Partners, stating that the proposal is not superior to LCI's existing plan to create a $7.7 billion company through its combination with fellow RV parts maker Patrick Industries.

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ENFORCEMENT

FedEx Hit With $3M Calif. Privacy Fine Over Ad Tracking

By Allison Grande

FedEx has agreed to pay nearly $3 million and overhaul certain data privacy controls to resolve the California Privacy Protection Agency's claims that the company shared website visitors' personal information with advertisers without telling the customers or giving them an opportunity to opt out of the disclosures, the agency announced Tuesday.

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NY, T-Mobile Reach Deal To End Affordable Internet Data Caps

By Aneeta Mathur-Ashton

T-Mobile has agreed to improve and expand access to its affordable home internet services, according to an agreement unveiled by New York Gov. Kathy Hochul and New York Attorney General Letitia James.

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Wash. AG Proposes Notice Rule On AI Personal Data Access

By Rachel Riley

The Washington State Attorney General's Office has recommended that state lawmakers require businesses and organizations using artificial intelligence to inform residents if an AI agent gains access to their personal information without authorization, according to an annual data breach report issued Monday.

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EXPERT ANALYSIS

Conn. Financial Cos. Must Make AI Plans Exam-Ready

Connecticut's new artificial intelligence guidance for covered financial institutions is notable for its specificity and its broad inclusion of any AI system that materially influences business operations or risk management, detailing the need for written plans covering risk tiering, human oversight and vendor controls, says James Williams at Venable.

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DOJ's Deloitte, Lockheed DEI Deals Stress Whistleblower Role

The U.S. Department of Justice's recent settlements with Deloitte and Lockheed Martin over their diversity, equity and inclusion practices, launched by private whistleblowers, demonstrate to government contractors that federal enforcement can start from within, say attorneys at Hinckley Allen.

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Planning Personal Phone Collections Before Discovery Begins

For counsel planning a personal phone collection as part of the litigation discovery process, it's important to take early steps to ensure that necessary information will be obtained without exposing unrelated information or running into access issues, says Jeremy Horowitz at MARA Forensics.

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LEGAL INDUSTRY

How A Child Of Immigrants Defends Abrego Garcia

By Corey Rothauser

Hecker Fink attorney Jeffrey Then grew up translating English-language letters for customers at his Dominican immigrant family’s Bronx business. Decades later, he drew on that experience while defending Kilmar Abrego Garcia from federal human smuggling charges, becoming a lifeline for Abrego Garcia during his detention.

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Q&A

John Morgan On Why Luck Matters More Than Most Admit

By Y. Peter Kang

John Morgan, founder of personal injury giant Morgan & Morgan PA, built the largest personal injury firm in the U.S., with 1,110 attorneys in 140 locations. In his new memoir, "Life Is Luck," the attorney who Forbes estimates has a net worth of $1.5 billion argues that success is about more than talent, intelligence or determination. It is also about recognizing opportunities, taking risks and capitalizing on fortunate breaks when they appear.

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Grassley Defends Rush To Confirm Trump Judicial Picks

By Courtney Bublé

Sen. Chuck Grassley, R-Iowa, chair of the Senate Judiciary Committee, on Tuesday defended how quickly the committee is moving to confirm President Donald Trump's judicial picks before Democrats control the Senate.

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Trump Swaps Out Blocked 8th Circ. Nominee With Ark. Justice

By Courtney Bublé

President Donald Trump on Tuesday withdrew his pick for the Eighth Circuit and replaced him with a different nominee amid apparent opposition from Arkansas' senators. 

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Girardi Estate's $54M Claim Put Behind Other Creditors

By Craig Clough

The trustees overseeing Tom Girardi's and his former law firm's bankruptcies struck a deal to put their claims against each other behind other approved general unsecured claims, according to a California bankruptcy court filing, with the firm's trustee saying neither estate is expected to collect on those claims.

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Dark blue promo that reads 2026 MVPs Dark blue promo that reads 2026 Regional Powerhouses

COMPANIES IN TODAY'S NEWS

AB Volvo

APC

Adobe Inc.

Advanced Micro Devices Inc.

Affordable Care LLC

Amazon.com Inc.

American Bankers Association

Anthropic PBC

Apple Inc.

Association of Flight Attendants-CWA

Broadcom Inc.

CDK Global Inc.

Cable News Network Inc.

Chevron Corp.

Cisco Systems Inc.

Comcast Corp.

Conduent Inc.

Conference of State Bank Supervisors

DISH Network Corp.

Deere & Co.

Deloitte Touche Tohmatsu Ltd.

DentaQuest LLC

ESPN Inc.

FedEx Corp.

Ford Motor Co.

Google LLC

GovCIO

Honda Motor Co. Ltd.

Hulu LLC

International Association of Machinists & Aerospace Workers

International Business Machines Corp.

LCI Industries

LafargeHolcim Ltd.

LinkedIn Corp.

Lockheed Martin Corp.

Marquis Software Solutions Inc.

Marsh & McLennan Cos. Inc.

Massachusetts Institute of Technology

Meta Platforms Inc.

Microsoft Corp.

Monomoy Capital Partners

Morgan Stanley

NBCUniversal Media LLC

NVIDIA Corp.

Nasdaq Inc.

Netflix Inc.

OpenAI OpCo LLC

Oracle Corp.

PG&E Corp.

Patrick Industries Inc.

Prosper Marketplace Inc.

Reddit Inc.

Renaissance Capital

Space Exploration Technologies Corp.

Spirit Airlines Inc.

Stryker Corp.

T-Mobile US Inc.

Tekion Corp.

The Boeing Co.

The Goldman Sachs Group Inc.

The UPS Store

The Walt Disney Co.

TikTok Inc.

Todd Snyder

Tonic AI Inc.

Tractor Supply Co.

Twitter Inc.

United Airlines Holdings Inc.

United Parcel Service Inc.

UnitedHealth Group Inc.

Vimly Benefit Solutions Inc.

Workday Inc.

Xerox Holdings Corp.

YouTube Inc.

Zillow Group Inc.

LAW FIRMS IN TODAY'S NEWS

Almeida Law Group

BC Law Group PC

Baker Botts

Bayard PA

Burgess Law Offices

Carlton Fields

Cleary Gottlieb

Cravath Swaine

Crosner Legal

Davis Polk

Davis Wright Tremaine

Dunlap Bennett

EdTech Law

Emery Reddy

Fenwick & West

Freshfields

Gibson Dunn

Girardi & Keese

Gustafson Gluek

Hatch Law Group

Hecht Partners

Hecker Fink

Hinckley Allen

Kahn Smith

Katten Muchin

Keller Rohrback

Kirkland & Ellis

Latham & Watkins

Levene Neale

Lieff Cabraser

Littler Mendelson

Mantese Honigman

Milbank LLP

Morgan & Morgan PA

Morgan Lewis

Nath Goldberg

Offit Kurman

Orrick Herrington

Parkins & Rubio

Peiffer Wolf

Phelps Dunbar

Proskauer Rose

Quinn Emanuel

Raines Feldman

Richards Layton

Rosati Schultz

Scott & Corley

Seyfarth Shaw

Stephan Zouras

Steptoe LLP

Sterne Kessler

Sugarman & Susskind

Susman Godfrey

Troutman

Venable LLP

Wachtell Lipton

Weil Gotshal

Wexler Boley

White and Williams

Wiggins Childs

Williams Williams Rattner & Plunkett

Wilson Sonsini

Winston Cooks

GOVERNMENT AGENCIES IN TODAY'S NEWS

Arkansas Supreme Court

Austrian Data Protection Authority

Bureau of Land Management

California Privacy Protection Agency

Connecticut Department of Banking

Equal Employment Opportunity Commission

Federal Acquisition Regulatory Council

Federal Bureau of Investigation

Federal Communications Commission

Federal Trade Commission

Food and Drug Administration

Homeland Security Investigations

House Committee on Natural Resources

Internal Revenue Service

National Institute of Standards and Technology

National Oceanic and Atmospheric Administration

New York Attorney General's Office

New York Supreme Court, New York County

Office of Justice Programs

Patent Trial and Appeal Board

Social Security Administration

Texas Supreme Court

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

U.S. Court of Appeals for the Eleventh Circuit

U.S. Court of Appeals for the Federal Circuit

U.S. Court of Appeals for the Ninth Circuit

U.S. Customs and Border Protection

U.S. Department of Agriculture

U.S. Department of Commerce

U.S. Department of Homeland Security

U.S. Department of Justice

U.S. Department of the Interior

U.S. Department of the Treasury

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

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

U.S. District Court for the District of Alaska

U.S. District Court for the District of Columbia

U.S. District Court for the District of Delaware

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

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

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

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

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

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

U.S. District Court for the Middle District of Tennessee

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 Northern District of Texas

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

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

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

U.S. House of Representatives

U.S. Patent and Trademark Office

U.S. Securities and Exchange Commission

U.S. Senate

U.S. Supreme Court

U.S. Tax Court

United States District Court for the District of North Dakota

Washington Attorney General's Office