Compliance

  • September 24, 2024

    Helicopter Maker Skirted FAA Requirements, Jury Hears

    Fort Worth-based Bell Helicopter Textron Inc. used a former vendor's trade secrets to skirt the need for regulatory approval, a jury heard in Texas state court Tuesday, allegedly avoiding requirements set by the Federal Aviation Administration as the company pulled the rug out from under its old vendor.

  • September 24, 2024

    Invitation Homes Agrees To $48M Settlement With FTC

    The Federal Trade Commission said it has struck a $48 million agreement with Invitation Homes Inc. to settle claims against the nation's largest single-family home landlord, including that it deceived people about leasing costs and junk fees, failed to inspect and repair homes as promised, and unfairly held on to security deposits.

  • September 24, 2024

    Eighth Circ. Poised To Weigh FCC's Anti-Redlining Rule

    The Federal Communications Commission is headed to court in St. Louis this week to defend new rules aimed at preventing discrimination in broadband deployment as industry groups opposing the rules fret that enforcement could begin any time.

  • September 24, 2024

    Google Expert Targets DOJ's Ad Tech 'Mistakes And Omissions'

    A Nobel Economics Prize-winning auctions expert on Tuesday criticized the U.S. Justice Department's monopolization case targeting Google's online advertising placement technology, telling a Virginia federal court that it was based on a fundamental misunderstanding of how the allegedly harmful auctions work.

  • September 24, 2024

    Feds Say BitMEX Should Owe $428M For Flouting AML Rules

    Federal prosecutors urged a Manhattan federal judge to impose a $428 million penalty for offshore crypto derivatives exchange BitMEX after the firm admitted to lax anti-money laundering procedures, arguing the more than $100 million the firm and founders have already paid to regulators is not enough to deter other crypto firms from Bank Secrecy Act violations.

  • September 24, 2024

    Ex-Foot Locker Exec To Pay $236K For Insider Trading

    A laid-off Foot Locker executive agreed to pay nearly $236,000 to resolve U.S. Securities and Exchange Commission claims that he engaged in insider trading during and after his time with the sportswear company, the agency announced Tuesday.

  • September 24, 2024

    DC Circ. Open To Industry Challenge To TSCA Reporting Rule

    A D.C. Circuit panel on Tuesday seemed receptive to two trade associations' challenge to new federal regulations aimed at increasing Toxic Substances Control Act transparency, pressing the U.S. Environmental Protection Agency on a facet of the rule that opponents say would lead confidential chemical information to be divulged.

  • September 24, 2024

    1st Circ. Affirms Tossing Of IRS Crypto Doc Seizure Case

    A New Hampshire federal court correctly dismissed a bitcoin investor's claim that the IRS violated his privacy and property rights when it seized his records from the cryptocurrency exchange Coinbase, the First Circuit ruled Tuesday, agreeing that he lacked a reasonable expectation that his account information would be kept private.

  • September 24, 2024

    Conn. Officials Want Nursing School Students' Claims Nixed

    Pointing to the state's interests in regulating professions and the principle of sovereign immunity, Connecticut officials accused of "overreach" for withholding licenses from students at a shuttered nursing school say a federal judge must dismiss proposed class claims by affected students.

  • September 24, 2024

    Novo Nordisk Tells Sens. Ozempic Costs Are Linked To PBMs

    Novo Nordisk's CEO argued Tuesday that the high prices of the company's diabetes and weight loss drugs Ozempic and Wegovy primarily stem from the actions of pharmacy benefit managers, earning support from many members of a Senate committee and frustrating others who wanted more direct answers on the Danish drugmaker's own responsibilities.

  • September 24, 2024

    Ala. Can Enforce Own Interstate Clean Air Plan, 11th Circ. Told

    Alabama told an Eleventh Circuit panel Tuesday that the U.S. Environmental Protection Agency overstepped its authority when denying the state's plan to implement rules limiting harmful interstate emissions under the Clean Air Act, saying the law gives states the "primary" authority to combat air pollution.

  • September 24, 2024

    Tractor Supply Co. Tobacco Fee Violates ERISA, Suit Says

    Tractor Supply Co. illegally charged workers who used tobacco an extra fee through their health insurance plan without explaining they could dodge the charge if they participated in a smoking cessation program, according to a proposed class action filed in Pennsylvania federal court.

  • September 24, 2024

    Md. Says Shipowner Liable For $2B Baltimore Bridge Rebuild

    Maryland said the owner and manager of the cargo ship that slammed into Baltimore's Francis Scott Key Bridge must be held liable for the estimated $1.7 billion cost of rebuilding the bridge, claiming Tuesday that their negligence has caused "grievous impact" to Marylanders, the environment and the regional economy.

  • September 24, 2024

    FAA Chief Updates House Panel On Boeing Safety Culture Fix

    The Federal Aviation Administration's chief told a House panel Tuesday that the agency has "dramatically" increased its oversight of Boeing, as lawmakers raised concerns about the pace of Boeing's safety culture overhaul amid an ongoing labor dispute with 33,000 workers.

  • September 24, 2024

    Meta Can't Nix Misrepresentation Claims In Revenue Split Suit

    Meta Platforms Inc. can't nix misrepresentation claims by a Canadian news site alleging the social media giant rejected its ads without explanation in violation of its policy, after a California federal judge said Monday the plaintiff sufficiently alleged it relied on Meta's promises to provide such explanations when deciding to invest millions of dollars to advertise.

  • September 24, 2024

    Everton Finds New Buyer In US Billionaire

    The company controlled by U.S. billionaire businessman Dan Friedkin has agreed to take a majority stake in Everton Football Club in a move that comes after a prior Everton sale fell through amid legal troubles for the buyer.

  • September 24, 2024

    Feds, Mill Owner Reach $1.4M Deal In Pollution Cleanup Row

    A property development group will pay more than $1.4 million to fund a permanent stewardship as part of an agreement with the state of Washington, the federal government and a slew of tribes to resolve allegations that it released hazardous substances into Port Gamble Bay near Seattle for more than a century.

  • September 24, 2024

    Amazon Shareholders Try To Save Suit Over Blue Origin Deal

    Stockholders who sued Amazon founder Jeff Bezos and the company's board in Delaware's Court of Chancery for "blindly" approving a multibillion-dollar, Bezos-controlled launch contract for a new satellite-based internet service struggled for enough altitude Tuesday to clear defense dismissal challenges.

  • September 24, 2024

    SEC Says Blockchain Cybersecurity Co. Ran $5M Fraud

    The U.S. Securities and Exchange Commission sued a former blockchain cybersecurity and supply chain management company and its founder, alleging they deceived investors and fraudulently raised more than $5 million by falsely claiming that the company had secured contracts and that it expected to generate millions in revenue.

  • September 24, 2024

    EPA Finalizes HFC Leak And Recycling Rule

    The U.S. Environmental Protection Agency has issued a final rule aimed at reducing hydrofluorocarbon leaks from large refrigeration and air-conditioning equipment, while establishing a new program to better manage and recycle the potent greenhouse gasses.

  • September 24, 2024

    Man In Mueller Report Asks DC Circ. To Revive Privacy Claim

    A Georgian American businessman named in special counsel Robert Mueller's report on 2016 Russian election interference has petitioned the D.C. Circuit for an en banc review of a panel's decision not to revive his Privacy Act damages claim related to supposed inaccuracies, arguing the panel erred in finding he had abandoned damages arguments.

  • September 24, 2024

    Star Witness Against Bankman-Fried Gets 2 Years In FTX Case

    A Manhattan federal judge sentenced former cryptocurrency executive Caroline Ellison to two years in prison Tuesday, crediting her decision to testify against FTX founder Sam Bankman-Fried but saying the $11.2 billion fraud was too big to warrant a "get out of jail free card."

  • September 24, 2024

    Treasury To Allow 3 AMT Transition Methods, Official Says

    Final rules on the new corporate alternative minimum tax are expected to adopt the proposed regulations' three ways for companies to transition to the regime, and the U.S. Treasury Department is open to other ways as well, a department official said Tuesday.

  • September 24, 2024

    Ex-MoFo Cybersecurity Partner Joins Cooley In NY

    Cooley LLP announced on Tuesday the hiring of a former global privacy and data security partner at Morrison Foerster LLP.

  • September 24, 2024

    Exxon Claims It Beat Weak Defense In $1.8B Tax Trial

    Exxon Mobil urged a Texas federal judge to find that it defeated what it called a scattered defense by the U.S. government during a five-day bench trial in April when the company argued for a $1.8 billion tax refund on its natural gas deal with Qatar, according to newly released filings.

Expert Analysis

  • Bank M&A Continues To Lag Amid Regulatory Ambiguity

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    Bank M&A activity in the first half of 2024 continued to be lower than in prior years, as the industry is recovering from the 2023 bank failures, and regulatory and macroeconomic conditions have not otherwise been prime for deals, say Robert Azarow and Amber Hay at Arnold & Porter.

  • FTC's Drug Middlemen Probe Highlights Ongoing Scrutiny

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    The Federal Trade Commission's interim staff report on its inquiry into pharmacy benefit managers suggests that the industry will remain under an enforcement microscope for the foreseeable future due to concerns about how PBMs affect drug costs and accessibility, say attorneys at Arnold & Porter.

  • Nuclear Power Can Help Industrial Plants Get To Net-Zero

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    In the race to fight climate change and achieve net-zero emissions, the industrial sector currently faces immense challenges — but the integration of nuclear energy is a promising solution, so companies should consider the financial and regulatory issues, opportunities, and risk-mitigating factors, say attorneys at Morgan Lewis.

  • Why The SEC Is Targeting Short-And-Distort Schemes

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    The U.S. Securities and Exchange Commission's recent crackdown on the illegal practice of short-and-distort trades highlights the urgent need for public companies to adopt proactive measures, including pursuing private rights of action, say attorneys at Baker McKenzie.

  • DOJ Paths To Limit FARA Fallout From Wynn's DC Circ. Win

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    After the D.C. Circuit’s recent Attorney General v. Wynn ruling, holding that the government cannot compel retroactive registration under the Foreign Agents Registration Act, the U.S. Department of Justice has a few options to limit the decision’s impact on enforcement, say attorneys at MoFo.

  • Series

    Playing Dungeons & Dragons Makes Me A Better Lawyer

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    Playing Dungeons & Dragons – a tabletop role-playing game – helped pave the way for my legal career by providing me with foundational skills such as persuasion and team building, says Derrick Carman at Robins Kaplan.

  • A Look At The Regulatory Scrutiny Facing Liquid Restaking

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    Recent U.S. Securities and Exchange Commission enforcement actions highlight the regulatory challenges facing emerging financial instruments like liquid restaking tokens and services, say Daniel Davis and Alexander Kim at Katten.

  • 5 Insights Into FDIC's Final Rule On Big-Bank Resolution Plans

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    Although the Federal Deposit Insurance Corp.'s recently finalized rule expanding resolution planning requirements for large banks was generally adopted as proposed, it includes key changes related to filing deadlines, review and feedback, and incorporates lessons learned — particularly from last year's bank failures, say attorneys at Cleary.

  • Opinion

    Time To Reimagine The Novation Process For Gov't Contracts

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    The Federal Acquisition Regulatory Council, which recently extended a long-standing request for public comments on its novation procedures, should heed commenters' suggestions by implementing specific changes in its documentation requirements, thereby creating a more streamlined and practical novation process, say attorneys at Covington.

  • 3 Leadership Practices For A More Supportive Firm Culture

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    Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.

  • NLRB Ruling Highlights Rare Union Deauthorization Process

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    A recent National Labor Relations Board decision about a guard company's union authorization revocation presents a ripe opportunity for employees to review the particulars of this uncommon process, and employer compliance is critical as well, say Megann McManus and Trecia Moore at Husch Blackwell.

  • Cannabis Biz Real Estate Loan Considerations For Lenders

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    Now that cannabis sales are legal in some states, real estate lenders are interested in financing the land used by cannabis companies, but because cannabis sales are still illegal under federal law, lenders must make adjustments for cannabis-adjacent transactions, say Mark Levenson and Jeffrey Wendler at Sills Cummis.

  • New State Carbon Capture Laws: Key Points For Developers

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    Multiple states have introduced or expanded legal frameworks for carbon capture and sequestration this year, and while there are some common themes, many of these state laws include unique approaches and requirements — which developers and investors should be aware of when considering potential projects and investment risks, say attorneys at Arnold & Porter.

  • E-Discovery Quarterly: Rulings On Hyperlinked Documents

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    Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.

  • Enron Law Is Still Threat To Execs After Justices' Jan. 6 Ruling

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    While the U.S. Supreme Court’s recent Fischer v. U.S. decision is a setback for prosecutors’ obstruction charges against Jan. 6 defendants, it also represents a strong endorsement of the post-Enron Sarbanes-Oxley Act’s original purpose, serving as a corporate compliance reminder for executives, say Michael Peregrine and Ashley Hoff at McDermott.

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