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Compliance
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July 26, 2024
DOJ Whistleblower Pilot On Deck As Cos. Boost Compliance
Corporations are making their compliance programs more proactive amid an ongoing push from the Biden administration for firms to come forward with information as the U.S. Department of Justice prepares to roll out a pilot program to reward whistleblowers who alert prosecutors to significant corporate misconduct.
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July 26, 2024
Apple Commits To White House Guidelines For Responsible AI
Apple Inc. has signed onto the Biden administration's voluntary guidelines for "responsible" artificial intelligence innovation, joining the likes of Amazon.com Inc., Google LLC, Microsoft Corp. and a dozen other leading tech companies, the White House announced Friday.
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July 26, 2024
FTX's Ryan Salame Asks To Delay Prison After Dog Attack
Former FTX executive Ryan Salame on Friday asked a New York federal judge to delay his prison surrender date because he was recently mauled by a German shepherd and must undergo "urgent and necessary medical treatment and surgery."
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July 26, 2024
Adobe Exec Called Cancel Fee Trap 'Heroin' For Co., Suit Says
Adobe Inc. is so aware of the power, and financial benefits, of its allegedly hidden early termination fee for its most lucrative subscription plan that one executive described the fee as "a bit like heroin for Adobe," according to a newly unredacted complaint from the U.S. Department of Justice and the Federal Trade Commission.
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July 26, 2024
ESPN, Fox, Hulu Oppose Bid To Block Sports Streaming JV
Streaming service Fubo has told a New York federal court that ESPN, Fox and Warner Bros. Discovery are teaming up with others to knock down its "sports-first streaming business," but what Fubo calls anticompetitive behavior, the trio of companies on the other side of a lawsuit call fair competition.
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July 26, 2024
DC Circ. Axes Agriculture Department's $1M Fine On Amazon
E-commerce giant Amazon doesn't owe $1 million to the U.S. Department of Agriculture after the D.C. Circuit on Friday undid an order concluding Amazon facilitated unlawful plant and animal product importation, finding that the online retailer didn't knowingly assist the purported infractions.
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July 26, 2024
Franklin Says DOJ, SEC Probing Western Asset Management
Western Asset Management, a global fixed-income manager, is facing parallel investigations from the U.S. Department of Justice and the U.S. Securities and Exchange Commission over some of its past trade allocations, its parent Franklin Resources Inc. said Friday.
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July 26, 2024
More Airwaves Needed To Support Drones, FCC Told
Several utility companies have come together to tell the Federal Communications Commission that they need more room in the 5 gigahertz and 4.9 GHz bands for drone operations, which they say make their employees' jobs safer and easier.
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July 26, 2024
Real Estate Recap: CrowdStrike, CFIUS, Financial Services
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including the real estate sector's reaction to the CrowdStrike outage, heightened scrutiny of foreign investment in U.S. properties and a view of evolving financial services regulation from the general counsel of the Conference of State Bank Supervisors.
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July 26, 2024
DC Circ. Vacates FERC Oil Pipeline Index Revision
The D.C. Circuit on Friday vacated a Federal Energy Regulatory Commission order that lowered the five-year index level governing oil pipeline transportation rates, ruling that the agency ran afoul of federal law when it failed to gather public input on the revision.
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July 26, 2024
Employment Authority: Tips For Dealing With Politics At Work
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on why employers should be cautious about handling employees' political differences in the workplace, how the labor movement is shifting its support for Vice President Kamala Harris after President Joe Biden drops out of the election and a look at the Third Circuit's decision over the NCAA and wage claims from college athletes.
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July 26, 2024
DC Circ. Vacates EPA's Biofuel Exemptions Denial
The D.C. Circuit on Friday largely sided with dozens of small petroleum refiners challenging the U.S. Environmental Protection Agency's denial of their exemptions to federal renewable fuel blending requirements while keeping its reasoning for doing so under seal.
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July 26, 2024
Judge Allows Emotional Damages In Deaf Patient's Bias Suit
A Michigan federal judge has reversed course in a suit by a deaf woman who alleges she was discriminated against when Henry Ford Health System denied her an interpreter, saying she'd been mistaken in a prior order when she only considered if compensatory emotional distress damages were available under federal law.
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July 26, 2024
WWE Founder Slams Accuser's Bid For Drug Treatment Info
A Connecticut federal judge should lift a six-month stay in a sexual abuse lawsuit against World Wrestling Entertainment Inc. long enough for ex-CEO Vince McMahon to try to block the accuser's parallel case in state court seeking information about mysterious, WWE-funded medical treatment she says she underwent, McMahon is arguing.
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July 26, 2024
RTX Earmarks $1.2B For Anticipated Deals With DOJ, SEC
RTX Corp., formerly known as Raytheon, said it has set aside more than $1.2 billion for anticipated deferred prosecution agreements and other deals with U.S. regulators stemming from investigations that include allegations of improper payments tied to contracts in the Middle East.
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July 26, 2024
Biz Groups Call Corp. Transparency Act Unconstitutional
The U.S. government has failed to show how the Corporate Transparency Act meets narrow exceptions to the Fourth Amendment's search warrant requirements, a group of small businesses told a Michigan federal court Friday in contending that the statute is unconstitutional.
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July 26, 2024
Assa Abloy Resolves DOJ Merger Monitor Dispute
Assa Abloy told a D.C. federal judge that it's agreed "in principle" on how a monitoring trustee will review its compliance with a U.S. Department of Justice merger lawsuit settlement, resolving a simmering dispute over its complaints of an open-ended multimillion-dollar investigation.
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July 26, 2024
One Prosecutor's Quest To Carve Up Crypto's 'Pig Butchers'
A Silicon Valley-based prosecutor who's made it her mission to fight what are known as pig butchering cryptocurrency scams says it is time to start taking a closer look at the role financial institutions and social platforms should play in identifying and blocking bad actors.
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July 26, 2024
2 Calif. Tribal Gaming Talks Advance, 1 Awaits DOI Assist
Negotiations between two California tribes and the state over sports gaming compacts are winding down after nearly a year, while another tribe awaits intervention from the U.S. Department of the Interior to assist in talks after the Golden State failed to consent to a third agreement.
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July 26, 2024
FTC Powers Get A Boost In Philly In Noncompete Ban Saga
The Federal Trade Commission's contested regulatory and enforcement powers got a much-needed endorsement when a Pennsylvania federal judge refused to temporarily block a ban on employment noncompete agreements.
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July 26, 2024
Data Co. Told To Turn Over Contracts In Kochava Case
A D.C. federal judge plans to order TargetSmart to turn over supplier contracts to the Federal Trade Commission in the agency's case against TargetSmart client Kochava on Friday, after TargetSmart's attorney said she was "99% sure that there was no due diligence done by Kochava" regarding the data's provenance.
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July 26, 2024
EV Group Seeks To Defend Fuel Economy Rule In 6th Circ.
A coalition of electric vehicle manufacturers and suppliers want in on a consolidated challenge in the Sixth Circuit to the U.S. Department of Transportation's new fuel economy standards for passenger cars and light trucks, saying the EV industry's future viability banks on the stringent new standards.
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July 26, 2024
Activist Short Seller Accused Of $16M Securities Fraud
Federal prosecutors in California announced the indictment Friday of the founder of popular trading advice website Citron Research, accusing Andrew Left of exploiting his platform to manipulate stock prices and earn $16 million through securities fraud.
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July 26, 2024
Power Groups Join Bid To Stay EPA Plant Rule At High Court
Utility and coal industry groups have joined dozens of red states in urging the U.S. Supreme Court to block implementation of the U.S. Environmental Protection Agency's rule curbing greenhouse gas emissions from power plants.
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July 26, 2024
GC Cheat Sheet: The Hottest Corporate News Of The Week
What a news week! President Joe Biden started it off by announcing he would not seek re-election, but then said he would push for reform of the U.S. Supreme Court in his remaining time. And the Boeing Co. confirmed it has finalized its agreement with federal prosecutors to plead guilty to one count of criminal conspiracy to defraud, related to safety issues and two fatal plane crashes.
Expert Analysis
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New Crypto Reporting Will Require Rigorous Recordkeeping
The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service's efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen and Max Angel at Holland & Knight.
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A Comparison Of FDIC, OCC Proposed Merger Approaches
Max Bonici and Connor Webb at Venable take a closer look at the Federal Deposit Insurance Corp.'s and Office of the Comptroller of the Currency's respective bank merger proposals and highlight certain common themes and important differences, in light of regulators continually rethinking their approaches to bank mergers.
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Crypto Mixer Laundering Case Provides Evidentiary Road Map
A Washington, D.C., federal court’s recent decision to allow expert testimony on blockchain analysis software in a bitcoin mixer money laundering case — which ultimately ended in conviction — establishes a precedent for the admissibility of similar software-derived evidence, say Peter Hardy and Kelly Lenahan-Pfahlert at Ballard Spahr.
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Series
Being An EMT Makes Me A Better Lawyer
While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.
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Colo. Lending Law Could Empower State-Chartered Banks
Lending programs that rely on rate exportation by state banks should pay close attention to legislative activity and ongoing litigation surrounding Colorado's decision to opt out of rate exportation, which could set a precedent that state-chartered banks have power on par with national banks, says Tom Witherspoon at Stinson.
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In Debate Over High Court Wording, 'Wetland' Remains Murky
Though the U.S. Supreme Court's decision limiting the Clean Water Act’s wetlands jurisdiction is now a year old, Sackett v. EPA's practical consequences for property owners are still evolving as federal agencies and private parties advance competing interpretations of the court's language and methods for distinguishing wetlands in lower courts, says Neal McAliley at Carlton Fields.
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High-Hazard Retailers: Are You Ready For OSHA Inspections?
In light of a bill introduced this month in Congress to protect warehouse workers, relevant employers — including certain retailers — should remain aware of an ongoing Occupational Safety and Health Administration initiative that has increased the likelihood of inspection over the next couple of years, say Julie Vanneman and Samantha Cook at Dentons Cohen.
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5 Lessons From Ex-Vitol Trader's FCPA Conviction
The recent Foreign Corrupt Practices Act and money laundering conviction of former Vitol oil trader Javier Aguilar in a New York federal court provides defense takeaways on issues ranging from the definition of “domestic concern” to jury instruction strategy, says attorney Andrew Feldman.
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SEC Amendments May Launch New Execution Disclosure Era
The U.S. Securities and Exchange Commission's recently adopted amendments to Rule 605 of Regulation NMS for executions on covered orders in national market system stocks modernize and enhance execution quality reporting, but serious guidance is still needed to make the reports useful for the public investor, say attorneys at Sidley.
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Ga. Law Creates Challenges For Foreign Ownership Of Land
Under Georgia's new law limiting certain foreign possessory interests in agricultural land and land near military properties, affected foreign persons and entities will need to do significantly more work in order to ensure that their ownership remains legal, say Nellie Sullivan and Lindsey Grubbs at Holland & Knight.
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Mitigating Incarceration's Impacts On Foreign Nationals
Sentencing arguments that highlighted the disparate impact incarceration would have on a British national recently sentenced for insider training by a New York district court, when compared to similarly situated U.S. citizens, provide an example of the advocacy needed to avoid or mitigate problems unique to noncitizen defendants, say attorneys at Lankler Siffert.
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Contract Disputes Recap: Saying What Needs To Be Said
Edward Arnold and Bret Marfut at Seyfarth Shaw examine three recent decisions that delve into the meaning and effect of contractual releases, and demonstrate the importance of ensuring that releases, as written, do what the parties intend.
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Navigating Title VII Compliance And Litigation Post-Muldrow
The U.S. Supreme Court’s recent ruling in Muldrow v. St. Louis has broadened the scope of Title VII litigation, meaning employers must reassess their practices to ensure compliance across jurisdictions and conduct more detailed factual analyses to defend against claims effectively, say Robert Pepple and Christopher Stevens at Nixon Peabody.
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The Opportunities, Risks And Rewards Of AI Acquisitions
As artificial intelligence acquisitions become an increasing area of focus for investors and technology buyers, entities should pay special attention to target identification, due diligence and more when structuring and executing a transaction with a company that has an AI-centric business model, say attorneys at Foley & Lardner.
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Tiny Tweaks To Bank Merger Forms May Have Big Impact
The impact of proposed changes to the Federal Reserve Board's and Federal Deposit Insurance Corp.'s bank merger review forms would be significant, resulting in hundreds of additional burden hours for bank merger applicants and signaling a further shift by the prudential bank regulators toward more rigorous scrutiny of mergers, say attorneys at Debevoise.