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Compliance
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August 12, 2024
DOJ Says Live Nation NY Suit 'Far Beyond' DC Merger Deal
The U.S. Department of Justice has urged a New York federal judge not to transfer its antitrust suit against Live Nation, arguing its allegations go well beyond the 2010 deal clearing the purchase of Ticketmaster, a deal Live Nation says warrants sending the case to Washington, D.C.
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August 12, 2024
Judge Won't DQ Asst. US Atty In Standard Chartered FCA Case
A New York federal judge on Monday declined to disqualify an assistant United States attorney from a long-dismissed False Claims Act suit against Standard Chartered Bank, calling the whistleblower's arguments for disqualification meritless "to the point where they verge on vexatious and frivolous."
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August 12, 2024
Intelsat Dinged $160K For Sending Satellite To Wrong Area
Intelsat has agreed to pay the $160,000 penalty associated with deploying a satellite out into a region of space outside what the satellite network provider's authorization from the Federal Communications Commission permitted.
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August 12, 2024
States Want Teva Generic Price Fixing Case Tried 1st
A coalition of state attorneys general suing a slew of generic drugmakers are asking for a Connecticut federal court to proceed with one of the two cases before the other, saying the outcome in that case will have a "significant impact" on settlement talks with other pharmaceutical company plaintiffs.
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August 12, 2024
The Biggest Telecom Developments Of 2024: Midyear Report
The first half of 2024 saw sweeping change in the telecom sphere as the Federal Communications Commission's Democratic majority pushed through controversial net neutrality rules and confronted challenges on artificial intelligence, national security and more, but also faces the prospect of new headwinds as the nation's top court pared back powers of federal agencies.
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August 12, 2024
Norfolk Southern Says Cuts To Investors' Suit Aren't Enough
Norfolk Southern Corp. told a New York federal court on Friday that a magistrate judge's recommendations to trim an investor proposed class action over losses stemming from the 2023 East Palestine, Ohio, derailment didn't go far enough, and urged the court to dismiss the entire complaint.
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August 12, 2024
SEC, SolarWinds In Settlement Talks After Cyber Suit Trimmed
Software company SolarWinds Corp. is in talks to settle a U.S. Securities and Exchange Commission cybersecurity lawsuit after a Manhattan federal judge dismissed the majority of claims over a 2020 data breach, the parties said Monday.
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August 12, 2024
NC Court Won't Stop 'Ultimate Relief' In Mogul's $524M Case
The North Carolina Court of Appeals refused on Monday to issue an immediate halt to a court-ordered receiver being appointed to manage the assets of convicted insurance mogul Greg Lindberg, saying it would consider blocking the appointment after further court proceedings.
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August 12, 2024
Lending Co. Best Egg Can Arbitrate Interest Rate Dispute
Online lender Best Egg can force arbitration of a proposed class action claiming it charged borrowers unlawfully high interest rates, with a Pennsylvania federal judge ruling an online checkbox is enough to indicate borrowers' consent to arbitrate.
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August 12, 2024
Investors Sue Nuclear Co. Over 'Laughable' Regulatory Claims
Nano Nuclear Energy Inc. misled investors about its progress towards regulatory approval and commercialization of its energy products and that its higher-ups are independent contractors working as executives of other companies, according to a proposed class action filed in New York federal court.
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August 12, 2024
TikTok Hit With Another Children's Privacy Breach Suit
A group of parents has filed a proposed class action against TikTok and its parent company in California federal court alleging invasion of privacy and unfair business practices targeting millions of children under age 13 across the United States.
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August 12, 2024
UK Competition Watchdog Looking Into $35B Software Deal
The U.K.'s competition regulator said Monday it is delving into whether Synopsys Inc.'s $35 billion acquisition of Ansys Inc. will hurt competition in the region.
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August 12, 2024
Nokia Resets Merger Review Clock For $2.3B Infinera Deal
Nokia has agreed to give the U.S. Department of Justice more time to review its planned $2.3 billion purchase of Silicon Valley optical-transmission equipment maker Infinera for potential competition concerns.
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August 12, 2024
States Oppose Shkreli High Court Bid For $64M Disgorgement
State enforcers are opposing a petition from ex-pharmaceutical executive Martin Shkreli asking the U.S. Supreme Court to review a disgorgement order requiring him to pay up to $64 million for an alleged scheme to increase the price of a life-saving drug by 4,000%
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August 12, 2024
Transparency Act Snowball Fears A 'Mirage,' Treasury Says
The U.S. Department of the Treasury is seeking to quell fears that the Corporate Transparency Act's disclosure requirements could set the stage for more invasive government data collection in a brief asking a Michigan federal judge to uphold the law as constitutional.
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August 12, 2024
DC Circ. Revives Businessman's Suit Over Mueller Report
A Georgian-American businessman discussed in special counsel Robert Mueller's report on Russian interference in the 2016 election can pursue claims that inaccuracies in the report harmed his reputation and business dealings, the D.C. Circuit said Friday.
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August 12, 2024
Texas AG To Investigate CenterPoint Over Beryl Outages
Texas Attorney General Ken Paxton said Monday that his office had opened an investigation into CenterPoint Energy Inc. over its preparation and response to Hurricane Beryl.
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August 12, 2024
Healthcare Co. To Pay Atty Fees In Suit Over Board Diversity
A Maryland federal judge has awarded $850,000 in attorney fees to an Omega Healthcare shareholder who filed a derivative suit against the healthcare investment trust alleging it had a discriminatory policy aimed at keeping Black individuals from being appointed to its board of directors.
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August 12, 2024
DOL Tweaks 2 Parts Of Asset Manager Exemption
The U.S. Department of Labor's employee benefits arm made two mostly technical changes Monday to a popular exemption used by asset managers who also manage retirement assets known as the qualified professional asset manager exemption.
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August 12, 2024
Catching Up With Delaware's Chancery Court
Multimillion-dollar share conversions, power struggles in a classic rock band, a good deal for fandom collectibles, and a pindown by two heavyweights were all part of the spectacle in Delaware's Court of Chancery last week. New cases involved pharmaceutical companies, cannabis, drones and liquid-gas exports. In case you missed it, here's the latest from the Chancery Court.
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August 12, 2024
Rising Star: Morgan Lewis' Alana F. Genderson
Alana Genderson of Morgan Lewis & Bockius LLP has played a key role in helping companies navigate a maze of safety and health requirements, including developing COVID-19 policies for some of the world's largest employers, earning her a spot among the compliance practitioners under age 40 honored by Law360 as Rising Stars.
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August 12, 2024
Big Tobacco To Pay $600M In 'Historic' Mass. Deal
Philip Morris Inc. and RJ Reynolds Tobacco Co. will pay nine-figure sums as part of a $600 million settlement between Massachusetts and major tobacco companies that resolves yearslong disputes about how much the cigarette makers owe, the state attorney general announced Monday.
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August 09, 2024
DoD Engineer Arrested For Taking Home 'Top Secret' Docs
A U.S. Department of Defense civilian employee accused of taking thousands of pages from his workplace was arrested early Friday morning, according to an affidavit that also reveals he was en route to Mexico for a fishing trip and that "stacks of papers" with top secret documents were found in his Virgnia home.
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August 09, 2024
Real Estate Recap: Big 4 Market Views, Gas-Ban Backfire, AI
Catch up on this week's key developments by state from Law360 Real Estate Authority — including what the largest commercial real estate brokers expect from capital markets in the second half of the year, how municipalities are reacting to the Ninth Circuit striking down Berkeley, California's natural gas-hookup ban, and why Brookfield Corp. is betting big on AI.
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August 09, 2024
Ripple Claims Victory In SEC Suit But Paid A Price
Ripple Labs Inc. celebrated the end of its legal battle with the U.S. Securities and Exchange Commission as a "clear victory" that cut through the regulator's bid for $2 billion over the exchange's unregistered institutional sales of its XRP token, but experts told Law360 the $125 million fine and injunction Ripple faces is much more than a speeding ticket to end a costly four-year battle.
Expert Analysis
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Careful Data Governance Is A Must Amid Enforcement Focus
Federal and state regulators' heightened focus on privacy enforcement, including the Federal Trade Commission's recent guidance on consumer protection in the car industry, highlight the importance of proactive risk management, compliance and data governance, say Jason Priebe and Danny Riley at Seyfarth.
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What DOL Fiduciary Rule Means For Private Fund Managers
Attorneys at Ropes & Gray discuss how the U.S. Department of Labor's recently released final fiduciary rule, which revises the agency's 1975 regulation, could potentially cause private fund managers' current marketing practices and communications to be considered fiduciary advice, and therefore subject them to strict prohibitions.
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Best Practices For Chemical Transparency In Supply Chains
A flurry of new and forthcoming regulations in different jurisdictions that require disclosure of potentially hazardous substances used in companies' products and processes will require businesses to take proactive steps to build chemical transparency into their supply chains, and engage robustly and systematically with vendors, says Jillian Stacy at Enhesa.
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5 Critical Factors Driving Settlement Values In Cyber Litigation
Recent ransomware incidents and their legal repercussions offer five valuable insights into the determinants of settlement values in cyberattack-related litigation, and understanding these trends and their implications can better prepare organizations for the potential legal fallout from future breaches, says Peter Kamminga at JAMS.
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What 11th Circ. Fearless Fund Ruling Means For DEI In Courts
The Eleventh Circuit's recent backing of a freeze on the Fearless Fund's grants to women of color building new companies marks the latest major development in litigation related to diversity, equity and inclusion and may be used to question other DEI programs targeted at providing opportunities to certain classes of individuals, say attorneys at Simpson Thacher.
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Money, Money, Money: Limiting White Collar Wealth Evidence
As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.
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Opinion
Paid Noncompetes Offer A Better Solution Than FTC's Ban
A better alternative to the Federal Trade Commission's recent and widely contested noncompete ban would be a nationwide bright-line rule requiring employers to pay employees during the noncompete period, says Steven Kayman at Rottenberg Lipman.
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Unpacking The Latest Tranche Of Sanctions Targeting Russia
Hundreds of new U.S. sanctions and export-control measures targeting trade with Russia, issued last week in connection with the G7 summit, illustrate the fluidity of trade-focused restrictions and the need to constantly refresh compliance analyses, say attorneys at Ropes & Gray.
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
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High Court's Abortion Pill Ruling Shuts Out Future Challenges
The U.S. Supreme Court's unanimous ruling in U.S. Food and Drug Administration v. Alliance for Hippocratic Medicine maintains the status quo for mifepristone access and rejects the plaintiffs' standing theories so thoroughly that future challenges from states or other plaintiffs are unlikely to be viable, say Jaime Santos and Annaka Nava at Goodwin.
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Navigating New Safe Harbor For Domestic Content Tax Credits
The U.S. Department of the Treasury’s recent notice simplifying domestic content calculations for certain solar, onshore wind and battery storage projects, which directly acknowledges the difficulty for taxpayers in gathering data to support a domestic content analysis, should make it easier to qualify additional domestic content bonus tax credits, say attorneys at A&O Shearman.
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Firms Must Rethink How They Train New Lawyers In AI Age
As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.
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PBM Takeaways From Proposed Telehealth Flexibility Bill
The U.S. House of Representatives' proposal to extend certain telehealth flexibilities signals a robust commitment to expanding telehealth access, though its plan to offset additional expenses through pharmacy benefit manager reform could lead to some industry consolidation, say attorneys at Mintz.
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What 4 Cyber Protection Actions Mean For Marine Transport
Several recent steps by the Biden administration are necessary to address the cyber threats that increasingly disrupt the maritime sector, but also impose new legal risks, liabilities and operating costs on the owners and operators of U.S.-flagged vessels and facilities, say attorneys at Holland & Knight.
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Next Steps After 5th Circ. Nixes Private Fund Adviser Rules
The Fifth Circuit's recent toss of key U.S. Securities and Exchange Commission rules regarding private fund advisers represents a setback for the regulator, but open questions, including the possibility of an SEC petition to the U.S. Supreme Court, mean it's still too early to consider the matter closed, say attorneys at Debevoise.