Compliance

  • October 30, 2024

    US Sanctions Swiss Attys For Handling Illicit Russian Funds

    The U.S. on Wednesday hit two Swiss lawyers with sanctions for taking advantage of a loophole in Switzerland's anti-money laundering law that officials said allowed them to discreetly move cash for Russians also sanctioned for aiding Moscow's military-industrial base.

  • October 30, 2024

    Ex-Takeda Exec. Gets Nearly 4 Years For Fake Invoice Scam

    A former Takeda Pharmaceuticals executive was sentenced Wednesday to 46 months in prison for stealing millions from the drug company through a fake invoice scam that a Boston federal judge characterized as "utterly unnecessary and pointless" and carried out for no other reason than to fund a luxurious lifestyle.

  • October 30, 2024

    State AGs Ask Congress For Federal Price-Gouging Ban

    Attorneys general from 15 states and the District of Columbia sent a letter to House and Senate leaders Wednesday urging Congress to adopt national protections against price-gouging.

  • October 30, 2024

    Crypto Platform Founder Pleads Guilty To Illegal Wash Trading

    The founder of cryptocurrency market-making platform MyTrade pled guilty in Massachusetts federal court Wednesday to orchestrating millions of dollars worth of daily wash trades to illegally inflate the prices of digital tokens.

  • October 30, 2024

    Maryland Says Electricity Greenwashing Law Is Constitutional

    Renewable energy company Green Mountain Energy Co. and a national advocacy organization cannot block a Maryland law aimed at cracking down on electricity suppliers' "greenwashing" claims, Maryland Attorney General Anthony G. Brown argued in federal court.

  • October 30, 2024

    Animal Med Distributor To Pay $1.1M For Lax Opioid Oversight

    Veterinary supplier Covetrus North America will pay $1.125 million to settle allegations that it ignored warning flags on 35 suspicious orders of opioids from a Cape Cod veterinarian's practice and shipped the drugs anyway, the Massachusetts U.S. Attorney's Office announced Wednesday.

  • October 30, 2024

    FTX Witness Who Saw Bankman-Fried's 'Evil' Avoids Prison

    A Manhattan federal judge allowed FTX's former chief engineer to avoid prison Wednesday, crediting his trial testimony against the crypto exchange's founder Sam Bankman-Fried, his ongoing cooperation and his relatively small role in the $11.2 billion fraud.

  • October 30, 2024

    Cleveland-Cliffs Gets Final Approval For $2.5B Stelco Deal

    Ohio steelmaker Cleveland-Cliffs Inc. said Wednesday it has received the Canadian regulatory approvals needed to complete its planned $2.5 billion acquisition of Canada's Stelco Holdings Inc., slating the deal close for Friday. 

  • October 29, 2024

    'In-And-Out' Trades Don't Doom Lead Plaintiff Bid, Judge Says

    A Manhattan federal judge appointed a Pomerantz LLP client as lead plaintiff in a shareholder suit against Nano Nuclear Energy Inc., rejecting arguments that the investor's handful of so-called in-and-out trades in the company's stock should preclude her from representing the proposed class in securities fraud allegations against the company.

  • October 29, 2024

    NY Health Provider To Boost Data Security To End AG's Probe

    An Albany-based healthcare provider has agreed to pay $2.75 million in penalties and data security enhancements to resolve the New York attorney general's claims it failed to protect private medical data that was exposed in a pair of 2023 cyberattacks, the regulator said Tuesday. 

  • October 29, 2024

    DOJ Will Restrict Data Swapping With 'Countries Of Concern'

    The U.S. Department of Justice has proposed new rules that will make it the regulator of any type of transaction that would put certain kinds of sensitive privacy data in the hands of any "covered persons" or "country of concern."

  • October 29, 2024

    Wells Fargo Fights To Ax Suit Over Identify Fraud Accounts

    Wells Fargo urged a California federal judge Tuesday to toss a proposed class action accusing the bank of violating the Fair Credit Report Act by accessing consumers' credit reports after fraudsters applied to open accounts with stolen information, saying Wells Fargo followed industry standards and the alleged damages are "conclusory."

  • October 29, 2024

    BofA Faces Scrutiny Of AML Program, Zelle Payment Handling

    Bank of America Corp. disclosed Tuesday that its anti-money laundering program is a focus of ongoing "discussions" with federal regulators and said it is mulling litigation with the Consumer Financial Protection Bureau over a potential enforcement action related to digital payment network Zelle.

  • October 29, 2024

    Bell Owes $16M In Trade Secrets Row With Vendor, Jury Finds

    A Texas jury on Tuesday largely found in favor of Bell Helicopter Textron Inc. in a suit claiming that it used a former vendor's trade secrets to prep a replacement supplier, concluding that Bell breached its contract with the vendor but that the Fort Worth, Texas-based aerospace manufacturer hadn't stolen intellectual property.

  • October 29, 2024

    Pot Co. Neighbor Says He's Not Responsible for Transient Fire

    A property owner is looking to dismiss a cannabis company's lawsuit accusing him of allowing a transient person to spark a fire that destroyed $3.8 million of cannabis, saying landlords don't have to protect their neighbors from third parties.

  • October 29, 2024

    NFT Platform OpenSea Taps Consensys Atty To Be Deputy GC

    Blockchain software developer Consensys' head of litigation has departed the firm amid its fight with the U.S. Securities and Exchange Commission to step into a deputy general counsel role at OpenSea, another crypto firm facing scrutiny from the securities regulator.

  • October 29, 2024

    Retired Fed. Circ. Judge Backs Invisalign In Monopoly Cases

    Retired Federal Circuit Judge Paul R. Michel warned the Ninth Circuit on Tuesday that reversing a lower court's decision to toss a pair of class actions accusing Invisalign of monopolizing the clear braces and teeth scanners market by illegally refusing to deal with a rival would increase patent owners' legal uncertainties.

  • October 29, 2024

    Lovesac To Pay SEC $1.5M Fine In Accounting Fraud Case

    Beanbag chair maker Lovesac has agreed to pay $1.5 million to the U.S. Securities and Exchange Commission to settle allegations that some of the company's former executives conspired to cover up an accounting debacle over how it recorded what's known as last-mile shipping costs.

  • October 29, 2024

    ByteDance's Sanctions Bid Against Ex-Worker Delays Trial

    A California federal judge delayed a trial in a wrongful termination lawsuit filed by an engineer formerly at TikTok's parent company ByteDance, directing the parties on Tuesday to instead submit briefing on the defendants' motion to terminate the case as a sanction for the plaintiff's alleged destruction of evidence and perjury.

  • October 29, 2024

    Rumble Pushes To Join Google Ad Tech MDL

    Video-sharing site Rumble has told the U.S. Judicial Panel on Multidistrict Litigation that its case accusing Google of monopolizing key digital advertising technology should be included in the consolidated litigation pending against the tech giant in New York.

  • October 29, 2024

    6th Circ. Judge Doubts Airport Funding Made It Federal Agent

    A Sixth Circuit judge on Tuesday said he saw "problems" with a Michigan airport's argument that federal grants had enough requirements to make the airport effectively a federal officer, suggesting it cannot litigate a suit over its PFAS-containing firefighting foam in federal court.

  • October 29, 2024

    Merger Guides In Fashion As Court Pauses Handbag Deal

    The Federal Trade Commission scored a major win last week with a court order pausing the planned $8.5 billion merger between the owners of Coach and Michael Kors, but the ruling stopped short of fully embracing enforcers' recent attempts to influence merger law.

  • October 29, 2024

    US Finalizes Investment Ban On Chinese Emerging Tech

    The Biden administration finalized plans to ban U.S. investors from funding emerging Chinese technology, saying the restrictions are necessary to prevent Beijing from advancing technologies critical to its military modernization campaign. 

  • October 29, 2024

    Epic Urges 9th Circ. Not To Pause Google Play Store Fixes

    Epic Games Inc. has fired back against Google's request the Ninth Circuit issue an emergency stay pausing a lower court's antitrust injunction that would require Google to open up its Play Store to competing app stores, slamming Google's arguments as "scattershot," misleading and legally unfounded.

  • October 29, 2024

    NJ Researcher Wants DNA Test On Lindbergh Baby Evidence

    A New Jersey woman pleaded with a state appellate panel on Tuesday to allow her to test evidence in the 1932 kidnapping and murder of the toddler son of aviator Charles Lindbergh, contending that new technology can determine whether anyone besides the man put to death for the crime was involved.

Expert Analysis

  • 5 Lessons From Consulting Firm's Successful DOJ Disclosure

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    The Boston Consulting Group recently received a rare declination of prosecution from the U.S. Department of Justice after self-disclosing a foreign bribery scheme, and the firm’s series of savvy steps after discovering the misconduct provides useful data points for white collar defense attorneys, says Jonathan Porter at Husch Blackwell.

  • What To Know About Ill. Employment Law Changes

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    Illinois employers should review their policies in light of a number of recent changes to state employment law, including amendments to the state’s Human Rights Act and modifications to the Day and Temporary Labor Services Act, say attorneys at Kilpatrick.

  • 'Greenhushing': Why Some Cos. Are Keeping Quiet On ESG

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    A wave of ESG-related litigation and regulations have led some companies to retreat altogether from any public statements about their ESG goals, a trend known as "greenhushing" that was at the center of a recent D.C. court decision involving Coca-Cola, say Gonzalo Mon and Katie Rogers at Kelley Drye.

  • Complying With FTC's Final Rule On Sham Online Reviews

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    The Federal Trade Commission's final rule on deceptive acts and practices in online reviews and testimonials is effective Oct. 21, and some practice tips can help businesses avert noncompliance risks, say Airina Rodrigues and Jonathan Sandler at Brownstein Hyatt.

  • 7 Takeaways For Investment Advisers From FinCEN AML Rule

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    With a new FinCEN rule that will require covered investment advisers to implement anti-money laundering programs and comply with extra recordkeeping requirements by 2026, companies should begin planning necessary updates to their policies and procedures by focusing on seven of the rule’s key requirements, identified by attorneys at Simpson Thacher.

  • Basics Of Collective Bargaining Law In Principle And Practice

    Excerpt from Practical Guidance
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    Rebecca Bernhard and Jennifer Service at Barnes & Thornburg discuss the nuts and bolts of what the National Labor Relations Act requires of employers during collective bargaining, and translate these obligations into practical steps that will help companies prepare for, and succeed during, the negotiation process.

  • Mich. Whistleblower Ruling Expands Retaliation Remedies

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    The Michigan Supreme Court's recent Occupational Health and Safety Act decision in Stegall v. Resource Technology is important because it increases the potential exposure for defendants in public policy retaliation cases, providing plaintiffs with additional claims, say Aaron Burrell and Timothy Howlett at Dickinson Wright.

  • What VC Fund Settlement Means For DEI Grant Programs

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    An unexpected settlement in American Alliance for Equal Rights v. Fearless Fund, based on specific details of an Atlanta venture capital fund's challenged minority grant program, leaves the legal landscape wide open for organizations with similar programs supporting diversity, equity and inclusion to chart a path forward, say attorneys at Moore & Van Allen.

  • Opinion

    A Fuzzy Label With Bite: FTC Must Define Surveillance Pricing

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    The Federal Trade Commission recently issued orders to eight companies — including Mastercard, McKinsey and Chase — seeking information on "surveillance pricing," but the order doesn't explain the term or make the distinction between legal and illegal practices, leaving any company that uses personalized pricing in the dark, says Chris Wlach at Huge.

  • Opinion

    CMS' New 'Breakthrough' Device Policy Shows Little Promise

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    The Centers for Medicare & Medicaid Services’ recent procedural notice outlining a new Medicare coverage pathway for breakthrough medical devices will, at best, be a failed experiment and, at worst, result in Medicare beneficiaries denied access to innovative treatments, say attorneys at King & Spalding.

  • Assessing Algorithmic Versus Generative AI Pricing Tools

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    A comparison of traditional algorithmic pricing models and those powered by generative artificial intelligence can help regulators and practitioners weigh the pros and cons of relying on large language models to price products or services, say Maxime Cohen at McGill University, and Tim Spittle and Jimmy Royer at Analysis Group.

  • Missouri Injunction A Setback For State Anti-ESG Rules

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    A Missouri federal court’s recent order enjoining the state’s anti-ESG rules comes amid actions by state legislatures to revise or invalidate similar legislation imposing disclosure and consent requirements around environmental, social and governance investing, and could be a blueprint for future challenges, say attorneys at Paul Hastings.

  • An Overview Of New Export Controls On Advanced Tech

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    With a new rule that took effect this month, the U.S. Department of Commerce's Bureau of Industry and Security continues to expand export controls on advanced technologies, including semiconductor, additive manufacturing and quantum computing, in coordination with international partners, say attorneys at Arnold & Porter.

  • Nuclear Waste Storage Questions Justices May Soon Address

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    The petition for the U.S. Supreme Court to review U.S. Nuclear Regulatory Commission v. Texas stands out for a number of reasons — including a deepening circuit split regarding the NRC's nuclear waste storage authority under the Atomic Energy Act, and broader administrative law implications, say attorneys at MoloLamken.

  • How States Are Approaching AI Workplace Discrimination

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    As legislators across the U.S. have begun addressing algorithmic discrimination in the workplace, attorneys at Reed Smith provide an overview of the status, applicability and provisions of 13 state and local bills.

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