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Compliance
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June 20, 2024
Competition Raids Don't Need Warrant For Emails, ECJ Told
European Union law doesn't bar member states from permitting competition authorities to search emails without a warrant amid a so-called dawn raid, according to an advisory opinion submitted to the bloc's top appeals court Thursday.
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June 20, 2024
Ex-Popular Bank VP Convicted Of COVID Aid Fraud
A former vice president and manager of a New York branch of Popular Bank was convicted by a Brooklyn federal jury of fraudulently obtaining money from two pandemic-era aid programs.
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June 20, 2024
FCC Allows Top-4 Exception So Gray Can Sell Station
The Federal Communications Commission has granted an exception to its rule prohibiting ownership of stations carrying more than one top-four network in a local market, allowing Gray Television to sell a Cheyenne, Wyoming, station as part of a larger deal.
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June 20, 2024
Vegas Papers Can't Pause Suit Amid Trim Appeal, Judge Says
Rival Las Vegas newspapers won't see their acrimonious antitrust dispute placed on ice while the Ninth Circuit contemplates reversal of a partial dismissal order in the matter with no trial dates in place yet, a Nevada federal judge has determined.
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June 20, 2024
Carbon Capture Struggles Doom EPA Rule, DC Circ. Told
Challengers of the U.S. Environmental Protection Agency's new greenhouse gas emissions standards for power plants reiterated to the D.C. Circuit that the impossibility of rapidly installing carbon capture and sequestration at power plants is reason enough to block the rule's implementation.
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June 20, 2024
Assa Abloy Says Deal Monitor Going Too Far
Assa Abloy has told a D.C. federal court that a monitoring trustee installed after the company settled a government merger challenge is taking things too far by trying to conduct a five-year, industry-wide study that's on pace to cost the company $20 million.
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June 20, 2024
EPA Water Rule Withstands Landowner's Attempt To Block It
A North Carolina federal judge declined to block the federal government's rule defining the scope of the Clean Water Act in a lawsuit filed by a landowner seeking to develop property in wetlands areas.
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June 20, 2024
2nd Circ. Affirms AIG's Win In Ex-Atty's Retaliation Suit
A former legal executive's retaliation lawsuit against American International Group Inc. has fizzled out as the Second Circuit on Thursday upheld an earlier ruling that found he was not fired for blowing the whistle on alleged fraud.
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June 20, 2024
Federal Agencies Release Updated Climate Adaptation Plans
More than 20 federal agencies on Thursday published updated climate adaptation plans that are intended to serve as guides for facing problems like extreme heat and precipitation, sea level rise, flooding and wildfire that could put facilities, supply chains and employees at risk.
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June 20, 2024
Faegre Drinker Hires New State AGs Practice Co-Leader In NY
Faegre Drinker Biddle & Reath LLP has tapped a new co-leader for its national state attorneys general practice, who has also joined the firm's litigation group as a partner in its New York City office, the firm announced Tuesday.
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June 20, 2024
Tax Preparer With $38M In Refunds Cops To S-Corp. Scam
The owner of a tax preparation business that secured $38 million in federal refunds for customers pled guilty to helping prepare false returns and admitted he required clients to establish empty corporations to lower their tax bills illegally, according to his plea agreement in a California federal court.
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June 18, 2024
Newsom, Legislators Reach Agreement On PAGA Reform
California Gov. Gavin Newsom and state legislative leaders on Tuesday unveiled reforms to California's Private Attorneys General Act, including major changes to the law's penalty structure, changes they say will avoid a "contentious" ballot measure campaign.
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June 18, 2024
High Court Petition Asks Justices: What's A 'Willful' Kickback?
Does a "willful" act under federal anti-kickback law require a defendant to know that the conduct violates the law? That's the question a whistleblower is asking the U.S. Supreme Court to answer in order to resolve what the petition calls a circuit split on a key question of federal fraud prosecutions.
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June 18, 2024
RR Donnelley Pays $2.1M To Settle SEC Claims Over Hack
Marketing and communications giant R.R. Donnelley & Sons has reached a deal with the U.S. Securities & Exchange Commission to pay over $2.1 million to settle claims over a 2021 cybersecurity incident that stemmed from poor internal controls and disclosure failures, the agency announced Tuesday.
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June 18, 2024
Amazon Hit With $5.9M Fine For Violating Calif. Quota Law
California's labor commissioner has fined Amazon $5.9 million for violating the Golden State's Warehouse Quotas Law, which requires employers to give workers written notice of any quotas they must follow, according to a Tuesday announcement.
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June 18, 2024
SEC's Ether Orders Spur Hope For Crypto, Caution From Attys
The crypto industry received a step toward clarity when the U.S. Securities and Exchange Commission's approval of exchange-traded products holding the token ether signified the cryptocurrency isn't a security subject to SEC regulation, but attorneys say they remain cautious when counseling clients on how to deal in the asset.
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June 18, 2024
Nuke Regulator Asks High Court To Review Atomic Waste Rule
The U.S. Nuclear Regulatory Commission has asked the U.S. Supreme Court to reverse a contentious Fifth Circuit decision that barred it from issuing a license to a temporary nuclear waste storage facility in Texas, saying that the circuit court widened circuit splits and upended decades of agency practice.
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June 18, 2024
Google's Deal With Apple Should Be Busted Up, Users Say
Counsel for consumers accusing Google of making an illegal pact with Apple to serve as the iPhone's default search engine urged a California federal judge on Tuesday to revive their dismissed antitrust suit, saying, "We're looking to bust up the contract to get competition back in the market."
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June 18, 2024
Chastened Boeing CEO Vows Fixes In Harsh Senate Hearing
Boeing's chief steadfastly defended the company's commitment to safety, even as he acknowledged a breakdown in how certain managers responded to whistleblowers who had flagged past questionable design or manufacturing practices, as he endured a grueling public hearing before a Senate panel Tuesday.
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June 18, 2024
Green Group Insists It Can Fight Colo. Air Plan Approval
The Center for Biological Diversity told the Tenth Circuit it didn't forfeit its challenge to the U.S. Environmental Protection Agency's approval of a Colorado air emissions permitting program and that the agency is wrong to assert otherwise.
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June 18, 2024
CFTC Awards $8M To Whistleblower Behind Multiple Actions
The Commodity Futures Trading Commission has announced it awarded more than $8 million to an insider whistleblower who the agency said provided significant information that led to multiple enforcement actions from multiple agencies.
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June 18, 2024
9th Circ. Asked For En Banc Review In Youths' Climate Case
Youth plaintiffs have asked the Ninth Circuit for en banc review of a panel's decision to toss their lawsuit against the federal government over the effects of climate change.
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June 18, 2024
Home Builders Sued For Non-FHA-Compliant Apartments
A group of home building and financing companies including the Toll Brothers were sued by Manhattan federal prosecutors Tuesday for allegedly violating the Fair Housing Act by building residential units that weren't accessible to people with physical disabilities.
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June 18, 2024
Fed Should Vote Now On Basel Capital Hike Plan, Warren Says
U.S. Sen. Elizabeth Warren has accused Federal Reserve Chair Jerome Powell of "doing the bank industry's bidding" as federal regulators look to back off of significant proposed increases to big-bank capital requirements, saying he should instead put those increases to a board vote by the end of June.
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June 18, 2024
Sterling Bank Ex-CEO Won't Face Charges Over Loan Program
The founder and former CEO of Sterling Bank and Trust, who has been investigated in connection with a fraud-plagued loan program, will not face criminal charges from the U.S. Department of Justice, according to Michigan federal court documents filed Monday.
Expert Analysis
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Social Media Free Speech Issues Are Trending At High Court
The U.S. Supreme Court's recent decision examining what constitutes state action on social media can be viewed in conjunction with oral arguments in two other cases to indicate that the court sees a need for more clarity regarding how social media usage implicates the First Amendment, say attorneys at Kean Miller.
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Opinion
CFPB Could, And Should, Revise Open Banking Rulemaking
In light of continued global developments in open banking, the Consumer Financial Protection Bureau should evaluate whether it actually should use its proposed rule on Section 1033 of the Dodd-Frank Act to amplify personal financial data rights in the U.S., says Brian Fritzsche at the Consumer Bankers Association.
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How Cos. Can Protect IP In Light Of FTC Noncompete Rule
While several groups are challenging the Federal Trade Commission’s recently approved rule banning noncompetition agreements, employers should begin planning other ways to protect their valuable trade secrets, confidential information and other intellectual property, says Thomas Duston at Marshall Gerstein.
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FDIC Bank Disclosure Rules Raise Important Questions
The Federal Deposit Insurance Corp.'s new rules mandating disclosures for nonbanks offering deposit products leave traditional financial institutions in a no-man's land between fintech-oriented requirements and the reality of personal service demanded by customers, say Paul Clark and Casey Jennings at Seward & Kissel.
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Understanding The IRC's Excessive Refund Claim Penalty
Taxpayers considering protective refund claims pending resolution of major questions in tax cases like Moore v. U.S., which is pending before the U.S. Supreme Court, should understand how doing so may also leave them vulnerable to an excessive refund claim penalty under Internal Revenue Code Section 6676, say attorneys at McDermott.
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Recent Wave Of SEC No-Action Denials May Be Slowing
The U.S. Securities and Exchange Commission in March granted no-action relief to Verizon and others on the grounds that a director resignation bylaw proposal would mean violating Delaware law, bucking recent SEC hesitation toward such relief and showing that articulating a basis in state law is a viable path to exclude a proposal, say attorneys at Winston & Strawn.
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PE-Healthcare Mergers Should Prepare For Challenges
State and federal regulators are increasingly imposing new requirements on healthcare transactions involving private equity partners, with mergers that would have drawn little scrutiny a few years ago now requiring a multijurisdictional risk analysis during the deal formation process, say attorneys at Stinson.
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Don't Use The Same Template For Every Client Alert
As the old marketing adage goes, consistency is key, but law firm style guides need consistency that contemplates variety when it comes to client alert formats, allowing attorneys to tailor alerts to best fit the audience and subject matter, says Jessica Kaplan at Legally Penned.
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Drafting Calif. Cannabis Management Services Agreements
Meital Manzuri and Alexis Lazzeri at Manzuri Law explore the ways in which management services agreements function in the California commercial cannabis industry, and highlight a few specific terms and conditions that are crucial when drafting these agreements.
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Takeaways From FDIC's Spring Supervisory Highlights
The Federal Deposit Insurance Corp.'s spring 2024 consumer compliance supervisory report found that relatively few institutions had significant consumer compliance issues last year, but the common thread among those that did were inadequacies or failures in disclosures to consumers, says Matthew Hanaghan at Nutter.
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Online Portal Helps Fortify Feds' Unfair Health Practices Fight
The Federal Trade Commission, U.S. Justice Department and the U.S. Department of Health and Human Services recently launched an online portal where the public can report potentially unfair healthcare practices, effectively maximizing enforcers' abilities to police anti-competitive actions that can drive up healthcare costs and chill innovation, say attorneys at Seyfarth.
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What To Expect From The DOL's Final Overtime Rule
The U.S. Department of Labor's final overtime rule dramatically increases the salary threshold for white collar workers to be exempt from overtime under the Fair Labor Standards Act, so employers should prioritize identifying the potentially affected positions and strategically consider next steps, say Leslie Selig Byrd and Deryck Van Alstyne at Bracewell.
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10b-5 Litigation Questions Follow Justices' Macquarie Ruling
Last month, the U.S. Supreme Court held in Macquarie v. Moab that pure omissions are not actionable under U.S. Securities and Exchange Commission Rule 10b–5(b), creating a slightly higher bar for plaintiffs and setting the stage for further litigation over several issues, say Steve Quinlivan and Sean Colligan at Stinson.
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Series
Walking With My Dog Makes Me A Better Lawyer
Thanks to my dog Birdie, I've learned that carving out an activity different from the practice of law — like daily outdoor walks that allow you to interact with new people — can contribute to professional success by boosting creativity and mental acuity, as well as expanding your social network, says Sarah Petrie at the Massachusetts Attorney General’s Office.
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Employer Considerations Before Title IX Rule Goes Into Effect
While the U.S. Department of Education's final rule on Title IX is currently published as an unofficial version, institutions and counsel should take immediate action to ensure they are prepared for the new requirements, including protections for LGBTQ+ and pregnant students and employees, before it takes effect in August, say Jeffrey Weimer and Cori Smith at Reed Smith.