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Compliance
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July 09, 2024
Veriwave Telco Faces FCC Action Over 'Tax Relief' Robocalls
The Federal Communications Commission is moving to block robocalls about purported "tax relief" programs from a Delaware-based telecommunications company, announcing in an order Monday that Veriwave Telco had another 14 days to demonstrate compliance with the agency's rules or risk having downstream providers cut its traffic.
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July 09, 2024
Judge Calls Cost Of DOJ's Assa Abloy Market Study 'Insane'
A D.C. federal judge took the U.S. Department of Justice and its monitoring trustee to task Tuesday for their pursuit of an open-ended look at Assa Abloy's books to check for anticompetitive harms from a 2023 merger, excoriating budget estimates pricing the investigation at a minimum of $1.7 million.
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July 09, 2024
Jackson Lewis Snags Proskauer Atty In NYC Office
Nationwide employment law firm Jackson Lewis PC announced Tuesday that it has hired a former Proskauer Rose LLP associate as a principal in its New York City office.
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July 09, 2024
Ex-NLRB Atty Rejoins Ogletree After In-House Stint
After a busy month of expansion, management-side labor and employment firm Ogletree Deakins Nash Smoak & Stewart PC announced Monday that it is welcoming a shareholder back to the firm following his in-house stint with wholesale grocery distributor UNFI.
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July 09, 2024
Ex-NRA Finance Chief Agrees To 10-Year NY Nonprofit Ban
A former chief financial officer of the National Rifle Association has agreed not to serve as a fiduciary of a New York nonprofit for 10 years as part of a settlement in the state attorney general's suit in state court alleging he and other executives misused donor money, according to deal terms disclosed Tuesday.
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July 09, 2024
5th Circ. Skeptical Of Nixing ESG Rule Despite Chevron's End
A Fifth Circuit panel appeared unlikely Tuesday to knock out a Biden administration rule allowing retirement plan advisers to consider environmental, social and governance factors when choosing investments, although one judge seemed to support vacating a lower court's decision upholding the regulation in light of the Chevron doctrine's demise.
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July 09, 2024
'ComEd Four' To Renew Acquittal Bid After Bribery Ruling
An Illinois federal judge effectively pushed the next ruling in the criminal case against former Commonwealth Edison CEO Anne Pramaggiore and her three co-defendants to at least winter, as the defendants vowed to renew their acquittal bid in the wake of the U.S. Supreme Court's ruling finding that federal bribery law doesn't criminalize rewards given after an official act.
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July 09, 2024
Fed's Powell Backs Do-Over For Basel Bank Capital Plan
Federal Reserve Chair Jerome Powell told senators on Tuesday that he supports a reproposal of federal regulators' Basel III endgame overhaul to big-bank capital requirements, suggesting the package is being rethought significantly enough to merit a whole new draft before it can be finalized.
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July 09, 2024
Crowell & Moring Adds 'Swiss Army Knife' Atty In Calif.
Crowell & Moring LLP grew in San Francisco this week, announcing Tuesday that it has added a former state prosecutor and e-commerce in-house counsel who has a reputation as a "Swiss Army knife style of lawyer."
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July 08, 2024
Shopify Privacy Ruling Threatens AGs' Work, 9th Circ. Told
Attorneys general from 30 states and the District of Columbia, along with a trio of California city attorneys, are calling on the Ninth Circuit to revive a proposed class action accusing payment processing company Shopify of collecting shoppers' sensitive information without permission, arguing that the dispute threatens to deprive them of their ability to enforce their states' consumer protection laws.
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July 08, 2024
Paxful Co-Founder Admits Anti-Money Laundering Failures
Paxful co-founder Artur Schaback faces a maximum penalty of five years in prison after he pled guilty in California federal court Monday to conspiring to do without effective anti-money laundering policies for the cryptocurrency exchange platform, the U.S. Department of Justice announced.
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July 08, 2024
CFPB Backs Bank In Ill. Customer's 'Schumer Box' Suit
The Consumer Financial Protection Bureau has thrown its support behind an Illinois bank in litigation over allegedly lacking repayment disclosures in its customer credit statements, saying the regulation at issue does not apply to the plaintiff's form of credit.
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July 08, 2024
Gas Cos. To Pay $1M For Emissions Leaks At Colo. Plant
The U.S. Environmental Protection Agency and the state of Colorado have reached a settlement with a Colorado natural gas plant to resolve years of emissions leaks and regulatory violations that resulted in excess air pollution, according to a consent decree filed in federal court Monday.
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July 08, 2024
What's In Boeing's Tentative 737 Max Plea Deal With DOJ
Boeing's willingness to plead guilty to conspiring to defraud U.S. regulators over the 737 Max 8's development is a rare mea culpa from an embattled American aerospace titan eager to rebuild public trust after six years of overlapping government investigations, production pauses and mounting litigation.
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July 08, 2024
Boeing's Federal Contracts At Risk After Guilty Plea
Boeing's guilty plea for fraud related to the safety of its 737 Max 8 commercial aircraft will trigger additional scrutiny for a possible suspension or debarment from federal contracting, potentially putting lucrative future contracts at risk for the company.
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July 08, 2024
UnitedHealth Brass Face Investor Suit Over Merger Probe
Executives and directors of UnitedHealth Group were hit on Monday with a shareholder derivative suit alleging they concealed that the U.S. Department of Justice reopened an antitrust investigation into the health insurance giant following its acquisition of a healthcare data company and that its brass knowingly sold more than $100 million of shares before the information was publicly revealed.
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July 08, 2024
11th Circ. Reverses Halt On Ga. Election Spending Probe
The Eleventh Circuit on Monday threw out a district court ruling blocking Georgia officials from enforcing a state campaign finance law against two nonprofits founded by Stacey Abrams that challenged the law's constitutionality, holding that the lower federal court should have abstained in light of a state proceeding.
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July 08, 2024
Maple Leaf Must Go The Way Of Chevron, Solar Cos. Say
Last month's U.S. Supreme Court decision overturning 40 years of judicial deference to federal agencies' read of statutes puts the Federal Circuit's own brand of executive branch acquiescence squarely on the chopping block, a solar industry group said Monday.
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July 08, 2024
Full 2nd Circ. Urged To 'Correct' Panel's Insider Trading Ruling
A hedge fund accused of taking advantage of its corporate insider status to profit off swing trading in 1-800-Flowers' stock is urging the full bench of the Second Circuit to reconsider a decision to revive the lawsuit against it, arguing in a Monday petition to the court that the ruling clashes with both U.S. Supreme Court precedent and with controlling Second Circuit precedent on standing.
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July 08, 2024
Orgs Worry FCC Could Overreach On Network Security
The Federal Communications Commission should rein in its plans to impose new security rules regarding the crucial routing technology used by the internet, lest it prompt other countries to devise their own and start a domino effect, two internet security advocates have told the agency.
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July 08, 2024
FDIC Downgrades Green-Focused Bank On CRA Exam
The Federal Deposit Insurance Corp. has dinged Forbright Bank, a sustainability minded bank started by former Democratic presidential candidate John Delaney, over an allegedly "illegal credit practice" tied to a since-discontinued third-party partnership, lowering its latest community lending exam grade.
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July 08, 2024
Assa Abloy Says No Monitor 'Blank Check' After Merger Deal
Assa Abloy on Monday reasserted its bid to rein in a monitoring trustee installed after the company settled a government merger challenge, arguing ahead of a court hearing that the government is aiming to roll back the parties' deal and carry out a more expansive investigation through the monitor.
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July 08, 2024
Texas Anesthesia Co. Can't Pause Or Appeal Suit, FTC Says
The Federal Trade Commission urged a Texas federal court not to pause its suit accusing U.S. Anesthesia Partners Inc. of a monopolistic "roll-up" of Lone Star State anesthesia practices, arguing the company can't appeal an order refusing to toss the case against it.
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July 08, 2024
Justices Told To Ignore 'Hopeless' Challenge To Antitrust Test
A group of wholesalers who say the makers of 5-Hour Energy illegally favored Costco in distributing the energy drink shots told the U.S. Supreme Court on Monday to reject the drink-maker's certiorari petition, saying it asks the justices to take on the role of fact-finders.
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July 08, 2024
Hyundai, Kia Parent Cos. Escape MDL Over Car-Theft Wave
The South Korean parent companies of Hyundai and Kia do not belong in a multidistrict litigation over a nationwide wave of car thefts following a TikTok trend popularizing tips for breaking into their vehicles, a California federal court said, finding no personal jurisdiction over the foreign entities.
Expert Analysis
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5 Climate Change Regulatory Issues Insurers Should Follow
The climate change landscape for insurers has changed dramatically recently — and not just because of the controversy over the U.S. Securities and Exchange Commission's climate-related risk disclosure rules, says Thomas Dawson at McDermott.
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How New Rule Would Change CFIUS Enforcement Powers
Before the May 15 comment deadline, companies may want to weigh in on proposed regulatory changes to enforcement and mitigation tools at the disposal of the Committee on Foreign Investment in the United States, including broadened subpoena powers, difficult new mitigation timelines and higher maximum penalties, say attorneys at Venable.
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What's Extraordinary About Challenges To SEC Climate Rule
A set of ideologically diverse legal challenges to the U.S. Securities and Exchange Commission's climate disclosure rule have been consolidated in the Eighth Circuit via a seldom-used lottery system, and the unpredictability of this process may drive agencies toward a more cautious future approach to rulemaking, say attorneys at Thompson Coburn.
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8 Questions To Ask Before Final CISA Breach Reporting Rule
The Cybersecurity and Infrastructure Security Agency’s recently proposed cyber incident reporting requirements for critical infrastructure entities represent the overall approach CISA will take in its final rule, so companies should be asking key compliance questions now and preparing for a more complicated reporting regime, say Arianna Evers and Shannon Mercer at WilmerHale.
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Is The Digital Accessibility Storm Almost Over?
Though private businesses have faced a decadelong deluge of digital accessibility complaints in the absence of clear regulations or uniformity among the courts, attorneys at Epstein Becker address how recent federal courts’ pushback against serial Americans with Disabilities Act plaintiffs and the U.S. Department of Justice’s proposed government accessibility standards may presage a break in the downpour.
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PE In The Crosshairs Of Public And Private Antitrust Enforcers
A series of decisions from a California federal court in the recently settled Packaged Seafood Products Antitrust Litigation, as well as heightened scrutiny from federal agencies, serve as a reminder that private equity firms may be exposed to liability for alleged anti-competitive conduct by their portfolio companies, say attorneys at Axinn.
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Series
Swimming Makes Me A Better Lawyer
Years of participation in swimming events, especially in the open water, have proven to be ideal preparation for appellate arguments in court — just as you must put your trust in the ocean when competing in a swim event, you must do the same with the judicial process, says John Kulewicz at Vorys.
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Mid-2024 FCA Enforcement And Litigation Trends To Watch
Reviewing notable False Claims Act trends and enforcement efforts in the last year and a half reveals that healthcare is a key enforcement priority for the U.S. Department of Justice, and the road ahead may bring clarification on Anti-Kickback Statute causation and willfulness standards, along with increased focus on private equity, cybersecurity and self-disclosure, say attorneys at Epstein Becker.
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Key Priorities In FDIC Report On Resolving Big Bank Failures
The Federal Deposit Insurance Corp.'s report last month on the resolvability of large financial institutions contains little new information, but it does reiterate key policy priorities, including the agency's desire to enhance loss-absorbing capacity through long-term debt requirements and preference for single-point-of-entry resolution strategies, say attorneys at Freshfields.
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Justices' Title VII Ruling Requires Greater Employer Vigilance
The U.S. Supreme Court’s recent Muldrow v. St. Louis ruling expands the types of employment decisions that can be challenged under Title VII, so employers will need to carefully review decisions that affect a term, condition or privilege of employment, say attorneys at Morgan Lewis.
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Opinion
SEC Should Be Allowed To Equip Investors With Climate Info
The U.S. Securities and Exchange Commission's new rule to require more climate-related disclosures will provide investors with much-needed clarity, despite opponents' attempts to challenge the rule with misused legal arguments, say Sarah Goetz at Democracy Forward and Cynthia Hanawalt at Columbia University’s Sabin Center for Climate Change.
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8 Fla. Statutes That Construction Cos. Should Prepare For
In this article, Jason Lambert at Hill Ward discusses a number of recent bills out of the Florida Legislature targeting construction companies in the Sunshine State that have been sent to the governor for signature, at least some of which will have broad impacts that affected companies should prepare for ahead of the July 1 effective date.
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Manufacturers Should Pay Attention To 'Right-To-Repair' Laws
Oregon’s recently passed "right-to-repair" statute highlights that the R2R movement is not going away, and that manufacturers of all kinds need to be paying attention to the evolving list of R2R statutes in various states and consider participating in the process, says Courtney Sarnow at Culhane.
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Microplastics At The Crossroads Of Regulation And Litigation
Though there are currently not many federal regulations specifically addressing microplastics as pollutants, regulatory scrutiny and lawsuits asserting consumer protection claims are both on the rise, and manufacturers should take proactive steps to implement preventive measures accordingly, say Aliza Karetnick and Franco Corrado at Morgan Lewis.
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New Federal Bill Would Drastically Alter Privacy Landscape
While the recently introduced American Privacy Rights Act would eliminate the burdensome patchwork of state regulations, the proposed federal privacy law would also significantly expand compliance obligations and liability exposure for companies, especially those that rely on artificial intelligence or biometric technologies, says David Oberly at Baker Donelson.