Corporate

  • July 10, 2024

    FTC Must Think Hard Before Trying More Rules, Commish Says

    One of the Federal Trade Commission's recently confirmed Republican commissioners called on the agency Wednesday to take a close look at how courts handle its ban on employment noncompete clauses before considering any further attempts at pushing the bounds of its regulatory authority.

  • July 10, 2024

    ​GOP Bombards Agencies With Demands After Chevron's End

    Republican leaders of major congressional committees Wednesday demanded details from dozens of agencies on policies suddenly shrouded in uncertainty after U.S. Supreme Court conservatives overturned the so-called Chevron doctrine, which for 40 years gave regulators flexibility in rulemaking and advantages in related litigation.

  • July 10, 2024

    Proof Of Ozy Media CEO's Fraud Is Overwhelming, Jury Told

    A New York federal prosecutor on Wednesday told the jury weighing the fate of Carlos Watson that the evidence presented at trial clearly shows that the former Ozy Media CEO was at the helm of a scheme to deceive investors into backing the struggling news and entertainment startup, by falsely inflating its financials and lying about the company's prospects in order to keep it afloat.

  • July 10, 2024

    Citi Fined $136M As OCC, Fed Cite Slow Remedial Progress

    The Office of the Comptroller of the Currency and the Federal Reserve on Wednesday leveled nearly $136 million in penalties against Citigroup Inc. and its national bank subsidiary Citibank for failing to meet risk management remediation milestones laid out in 2020 consent orders with the regulators.

  • July 10, 2024

    Skin Care Tech Co. Says Suit Shows 'Rough' Year, Not Fraud

    Skin care and beauty technology company Cutera Inc. asked a federal judge to toss a shareholder lawsuit that alleged the company exaggerated its financial sustainability and hid compliance issues, saying the company's "rough" year does not establish securities fraud.

  • July 10, 2024

    Airgun Co. Drops Counterclaim Against Swedish Supplier

    An American airgun seller has dropped its counterclaim alleging in the North Carolina Business Court that its Swedish supplier sabotaged a business relationship as part of a deal to end a court battle between the two former partners.

  • July 10, 2024

    Pokemon Go Maker Escapes Gaming Patent Suit

    A California federal judge has let the developer of smartphone game Pokemon Go out of a patent infringement suit, deciding that a patent related to augmented reality technology covers an abstract idea.

  • July 10, 2024

    Ex-CEO Of Mogul-Tied Co. Fired For Failures, Fraud Suit Says

    A European IT company tied to convicted mogul Greg Lindberg struck back against a lawsuit by its former CEO who alleges he was fired abruptly, accusing the former executive of shirking his leadership duties in a counterclaim.

  • July 10, 2024

    Thoma Bravo's Qualtrics Bid Fell Short, SAP Tells Chancery

    Thoma Bravo LP may have offered $1.2 billion more than Silver Lake Management to buy Qualtrics International Inc. from software company SAP SE in 2023, but other aspects of the bid were less attractive than Silver Lake's $12.5 billion offer, an attorney for SAP directors told Delaware's Court of Chancery on Wednesday.

  • July 10, 2024

    FIFA Strikes Back In Puerto Rico Media Access Fight

    Two international soccer organizations are pushing back against efforts by a local media company to obtain an injunction that prohibits banning its reporters from covering matches of Puerto Rico's national team, arguing they have nothing to do with such decisions.

  • July 10, 2024

    Uber Must Turn Over Data, Reports In Sex Assault MDL

    A California federal judge has ordered Uber Technologies Inc. to turn over data it collected underpinning safety reports in multidistrict litigation over sexual assault of passengers, but said the ride-hailing company need not turn over information on safety incidents that did not involve sexual misconduct or assault.

  • July 10, 2024

    MGM's Suit Against Mich. Tax For Ill. Riverboat Sale Tossed

    A Michigan subsidiary of MGM failed a requirement to request an alternative apportionment method before going to court in its challenge of a corporate income tax assessed on gains from its sale of an interest in a riverboat casino, the state Court of Claims ruled.

  • July 10, 2024

    Skydance, Paramount Unlikely To Hit Regulatory Roadblocks

    After Skydance Media and Paramount Global finally inked a deal to merge, the parties will move through a 45-day go-shop period and a review from U.S. regulators, but experts told Law360 the deal is unlikely to hit any antitrust obstacles.

  • July 10, 2024

    Fantasy Sports Co. Can't Duck Claims It Ripped Off IP

    A Georgia federal judge on Tuesday declined to dismiss a patent infringement suit between two fantasy sports tech companies, siding with a special master's finding that the technologies in question are likely concrete enough to warrant intellectual property protection.

  • July 10, 2024

    Nike Wins Another Look At TM Atty Fees Ruling At 3rd Circ.

    The Third Circuit on Wednesday undid a $5 million attorney fee award to a Pennsylvania clothing manufacturer that sued Nike Inc. for trademark infringement, ordering a federal trial court to look more closely at the specifics of the case to determine if the outcome was truly "exceptional."

  • July 10, 2024

    Bang Energy Drink Co. Ex-CEO Urges DQ Of Ch. 11 Judge

    The former CEO of the company that makes Bang energy drinks urged the disqualification of a Florida federal bankruptcy judge and called for an investigation, alleging that the judge committed misconduct in the company's Chapter 11 case, according to a complaint filed with the Eleventh Circuit.

  • July 10, 2024

    Archegos Founder Convicted Of $100B Fraud On Wall Street

    A Manhattan federal jury on Wednesday convicted Archegos founder Bill Hwang of illegally injecting over $100 billion into Wall Street markets with lies to banks that ballooned stocks and his assets, before running his family-office hedge fund into the ground.

  • July 10, 2024

    Salt Co. CEO, Worker Settle Suit Over Spurned Affair

    A Seattle-area gourmet sea salt company has settled a discrimination suit by an employee who says she was demoted and ostracized when she rejected sexual advances from its founder and CEO, who allegedly tried to win her over by paying for a new car, a new apartment and her student loans.

  • July 10, 2024

    X Corp., Musk Dodge $500M Severance Suit

    X Corp. and Elon Musk can escape claims they owe former employees $500 million in severance following the business mogul's purchase of the social platform formerly known as Twitter, a California federal judge ruled, saying the facts don't show that federal benefits law governed the payments workers received.

  • July 10, 2024

    Former McElroy Deutsch CFO Hits Ch. 11 Amid Theft Cases

    McElroy Deutsch Mulvaney & Carpenter's former chief financial officer filed for bankruptcy in New Jersey this week as he awaits sentencing for embezzling over $1.5 million from the firm over a period of years via fraudulent bonuses.

  • July 10, 2024

    SEC Probes NYSE's Bid To Extend SPAC Merger Deadlines

    The U.S. Securities and Exchange Commision wants more time to investigate a New York Stock Exchange proposal that would lengthen deadlines to complete certain mergers involving special purpose acquisition companies to 42 months, saying NYSE's proposal departs from typical time limits intended to protect investors.

  • July 10, 2024

    NLRB Outburst Order Violated Due Process, 5th Circ. Says

    The National Labor Relations Board must reconsider its decision changing the analysis of whether worker outbursts are protected under federal labor law, the Fifth Circuit ruled, finding the board violated a company's due process rights by not hearing its arguments prior to the precedent shift.

  • July 10, 2024

    MSG Sports Raises GC To Permanent Chief Operating Officer

    Madison Square Garden Sports Corp., which owns the NBA's New York Knicks and the NHL's New York Rangers, has promoted general counsel Jamaal Lesane to the position of chief operating officer, according to a securities filing on Tuesday.

  • July 10, 2024

    2 Roundup MDL Cases Axed After Plaintiffs Fail To Act

    A California federal judge presiding over multidistrict personal injury litigation related to the Monsanto herbicide Roundup has ended two of the numerous cases, with one tossed for failure to prosecute and the second ending in an early win for Monsanto after the plaintiff failed to file a response, amid ongoing concerns that plaintiffs' attorneys are overtaxed.

  • July 10, 2024

    Bankruptcy Filing Halts Dueling Unions' Defamation Dispute

    One of two security and law enforcement unions embroiled in defamation suits in Michigan federal court has informed the court that it has filed for bankruptcy in Pennsylvania, pausing the claims against it a week before trial.

Expert Analysis

  • What 2 Rulings On Standing Mean For DEI Litigation

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    Recent federal court decisions in the Fearless Fund and Hello Alice cases shed new light on the ongoing wave of challenges to diversity, equity and inclusion initiatives, with opposite conclusions on whether the plaintiffs had standing to sue, say attorneys at Moore & Van Allen.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q2

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    The second quarter of 2024 saw less enforcement activity in the realm of New York financial services, but brought substantial regulatory and legislative developments, including state regulators' guidance on cybersecurity compliance and customer service processes for virtual currency entities, say James Vivenzio and Andrew Lucas at Perkins Coie.

  • FTC Focus: Competition And The Right To Repair

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    If the Federal Trade Commission includes commercial and industrial products as part of copyright exemptions that allow consumers to modify or repair products, then businesses and affected rights holders will need to consider copyrights' impact on infringement issues, say attorneys at Proskauer.

  • Series

    Skiing And Surfing Make Me A Better Lawyer

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    The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

  • Advisers Can Avoid Gaps In SEC Marketing Rule Compliance

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    A recent risk alert from the U.S. Securities and Exchange Commission and the enforcement history of the marketing rule indicate that advisers have encountered persistent difficulties in achieving compliance — but there are steps advisers can take to mitigate risks of violations, say Scott Moss and Jimmy Kang at Lowenstein Sandler.

  • Class Actions At The Circuit Courts: June Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers two recent decisions from the Third and Tenth Circuits, and identifies practice tips around class action settlements and standing in securities litigation.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

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    Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.

  • Del. Bankruptcy Ruling Will Give D&O Insureds Nightmares

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    In Henrich v. XL Specialty Insurance, the Delaware Bankruptcy Court recently found that a never-served qui tam claim had been "brought" before a D&O policy's retroactive date, thereby eliminating coverage, and creating a nightmare scenario for directors and officers policyholders facing whistleblower claims, says David Klein at Pillsbury.

  • Opinion

    No Matter The Purdue Ruling, Mass Tort Reform Is Needed

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    The U.S. Supreme Court will soon issue its opinion in the bankruptcy of Purdue Pharma LP, and regardless of the outcome, it’s clear legal and policy reforms are needed to address the next mass tort, says William Organek at Baruch College.

  • Top 5 Issues For Employers To Audit Midyear

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    Six months into 2024, developments from federal courts and regulatory agencies should prompt employers to reflect on their progress regarding artificial intelligence, noncompetes, diversity initiatives, religious accommodation and more, say Allegra Lawrence-Hardy and Lisa Haldar at Lawrence & Bundy.

  • 6 Tips For Maximizing After-Tax Returns In Private M&A Deals

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    With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.

  • After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

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    The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

  • Practical Private Equity Lessons From 2 Delaware Deals

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    A pair of Delaware Chancery Court cases remind private equity sponsors that specificity is crucial through the lens of deal certainty, particularly around closing conditions and agreement sections of acquisition agreements, say Robert Rizzo and Larissa Lucas at Weil Gotshal and William Lafferty at Morris Nichols.

  • Recruitment Trends In Emerging Law Firm Frontiers

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    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • How Uyghur Forced Labor Law Affects Importing Companies

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    Amid a growing focus on forced labor in supply chains and a likely increase in enforcement under the Uyghur Forced Labor Prevention Act, companies may face costly import delays unless they develop and implement compliance best practices, say Thad McBride and Lauren Gammer at Bass Berry.

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