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Compliance
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September 13, 2024
The 2024 Regional Powerhouses
The law firms on Law360's list of 2024 Regional Powerhouses reflected the local peculiarities of their states while often representing clients in deals and cases that captured national attention.
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September 13, 2024
Wells Fargo Unit To Pay $3M Over Unsuitable Trading Claims
The Financial Industry Regulatory Authority has ordered Wells Fargo Clearing Services to pay roughly $3 million to settle allegations that the firm failed to adequately supervise how its registered representatives were selling certain securities that are subject to potential abuse because of the concessions they pay.
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September 13, 2024
Real Estate Recap: Foreclosure Legal Fees, Climate Resilience
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including trends in legal fees from commercial mortgage foreclosures and insights into property resilience in areas affected by extreme weather events.
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September 13, 2024
NC City Illegally Foiled Affordable Housing Effort, Builder Says
A coastal North Carolina city conspired to block an affordable housing project near the Camp Lejeune military base, flying in the face of demand, a project developer claimed in North Carolina federal court.
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September 13, 2024
Exxon Owes $816M For Man's Cancer After Judge Ups Verdict
Exxon Mobil Corp. is on the hook for $816 million to a New York service station mechanic who blames the oil giant for his leukemia diagnosis, after a Philadelphia judge upheld a jury's verdict and added delay damages.
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September 13, 2024
What To Know About The Google AdTech Trial
Google is set to resume its battle with the Department of Justice in a courtroom in Alexandria, Virginia, in one of the year's most high-profile lawsuits. The central question: Did the Californian search giant illegally monopolize the advertising technology space? Here, Law360 looks at takeaways from the first week's action.
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September 13, 2024
Walgreens To Pay $107M To End 3 False Billing Claims Suits
Walgreens has agreed to pay $106.8 million to settle claims across three lawsuits that it violated the False Claims Act and state laws for billing government health programs for prescriptions it never dispensed, the U.S. Department of Justice announced Friday.
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September 13, 2024
Vista Hails Sweetened CSG Bid, But Leaves MNC Door Open
Vista Outdoor Inc. on Friday voiced support for an increased offer from Czech defense company Czechoslovak Group AS to buy a slice of the ammunition and outdoor company, while also urging MNC Capital Partners LP to make its "best and final" bid in a competing campaign.
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September 13, 2024
SEC Inks $100M Deal With FirstEnergy, Sues Ex-CEO
The U.S. Securities and Exchange Commission reached a $100 million settlement with FirstEnergy Corp. over its role in a $60 million corruption scandal Thursday, the same day the agency sued a former executive who collected tens of millions of dollars in executive perks while the wrongdoing unfolded.
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September 13, 2024
NFL QB Faces New Assault Claims, NCAA's NIL Woes Grow
In this week’s Off The Bench, NFL quarterback Deshaun Watson is once again accused of sexual assault, and a group of former University of Michigan football players sue the NCAA for more than $50 million in NIL-related damages. In case you were sidelined this week, Law360 is here to catch you up on the sports and betting stories that had our readers talking.
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September 13, 2024
SEC Fines Zymergen $30M Over Misleading Pre-IPO Claims
Now-shuttered biotechnology company Zymergen Inc. has agreed to pay a $30 million fine to settle U.S. Securities and Exchange Commission allegations that it misled investors in its initial public offering when it used "unsupported hype" about the market potential for its technology for foldable touch screens.
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September 13, 2024
Trio Of BigLaw Mergers Expected To Drive More Deal Talks
After months of a relatively steady pace of law firm mergers and acquisitions, the trio of proposed BigLaw tie-ups announced in recent days will likely spur more firms toward entertaining similar deal talks, experts say. Here, Law360 offers a snapshot of the proposed deals.
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September 13, 2024
Philly's Defunct University Of The Arts Files For Ch. 7
Philadelphia's University of the Arts, which abruptly closed in June, filed for Chapter 7 liquidation Friday in Delaware bankruptcy court, roughly two weeks after nearby Temple University said it would not move forward with a potential merger.
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September 13, 2024
DC Circ. Gives EPA Chance To Review Good Neighbor Plan
The U.S. Environmental Protection Agency will have a chance to review its Good Neighbor Plan in-house before litigating it further, according to a D.C. Circuit ruling granting the agency's request to remand the rule, so it could respond to issues raised by the U.S. Supreme Court.
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September 13, 2024
Ex-DOJ Deputy In TikTok, Twitter Cases Joins Mayer Brown
A former leader of the U.S. Department of Justice's consumer protection arm who helped bring landmark privacy cases against TikTok and Twitter is jumping to Mayer Brown LLP, where he will focus on government investigations and enforcement actions.
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September 13, 2024
FuboTV Antitrust Trial Against Disney Set For Fall 2025
FuboTV's antitrust trial against the launch of a new sports streaming service by The Walt Disney Co., Fox Corp. and Warner Bros. Discovery is set to begin Oct. 6 next year, according to a court filing Thursday.
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September 13, 2024
Transport Giants Bid To Ax $14B 'Guilt By Association' Claim
Emirati logistics giant DP World and a major Russian transport company urged a London judge Friday to stop or trim the $14 billion claim against them from an imprisoned Russian oligarch, as they argued that he was making "guilt by association" allegations.
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September 13, 2024
Skanska On The Hunt For New Top Atty As GC Departs
Skanska said Friday that its top attorney is leaving the Stockholm-based construction and development company.
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September 13, 2024
GC Cheat Sheet: The Hottest Corporate News Of The Week
Harder-fought and more complex lawsuits may mean double-digit increases in the amount that companies spend on litigation; accuracy remains a top concern for law firms as they increasingly use artificial intelligence technology; and Norfolk Southern Corp. saw a major leadership shakeup after its chief legal officer and CEO engaged in a consensual relationship.
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September 13, 2024
Nestlé Can't Ax Danone's Whey Protein Patent At EPO
Danone has rebuffed a bid by food and drink giant Nestlé to scrap its European patent for a whey protein composition, as it proved that using gum arabic as a sugar substitute was a new invention.
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September 13, 2024
Former Y Combinator GC Joins Freshfields In Silicon Valley
The former general counsel for a well-known startup accelerator that has backed companies including Airbnb, Coinbase, DoorDash and Instacart has jumped to Freshfields and its Silicon Valley office, the law firm announced on Friday.
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September 13, 2024
EU Finance Ministers Boycott Hungary Meeting Over Russia
Most European Union finance ministers protested on Friday against what they see as Hungary's Russia-friendly politics by boycotting a meeting with their EU peers in the country's capital, Budapest.
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September 13, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen a football agent sue Chelsea FC after being cleared of allegations he threatened the club’s former director, an ongoing patent dispute between Amgen and Regeneron Pharmaceuticals, and a private school in Edinburgh suing Riverstone Insurance over compensation claims tied to historical abuse allegations made by former pupils. Here, Law360 looks at these and other new claims in the U.K.
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September 13, 2024
Ex-ABL Space Counsel Jumps To Barnes & Thornburg
A former Barnes & Thornburg associate is returning to the firm after an in-house stint with space launch service provider ABL Space Systems, but this time as a partner.
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September 13, 2024
Ropes & Gray Helps Kohlberg Net $4.3B For 10th PE Fund
Kohlberg & Co., advised by Ropes & Gray, said Friday it has clinched its 10th flagship fund after raising $4.3 billion from limited partners, with plans to target investments in companies within areas including pharmaceuticals, healthcare and financial and compliance services.
Expert Analysis
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Series
A Day In The In-House Life: Block CLO Talks Problem-Solving
Amid the busy summer months, Block Inc. Chief Legal Officer Chrysty Esperanza chronicles a typical Wednesday where she conquered everything from unexpected fintech regulatory issues and team building to Bay Area commutes and school drop-off.
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Shipping Containers As Building Elements Require Diligence
With the shipping container market projected to double between 2020 and 2028, repurposing containers as storage units, office spaces and housing may become more common, but developers must make sure they comply with requirements that can vary by intended use and location, says Steven Otto at Crosbie Gliner.
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7th Circ. Ruling Expands CFPB Power In Post-Chevron Era
The Seventh Circuit’s recent ruling in Consumer Financial Protection Bureau v. Townstone Financial interprets the Equal Credit Opportunity Act broadly, paving the way for increased CFPB enforcement and hinting at how federal courts may approach statutory interpretation in the post-Chevron world, say attorneys at Saul Ewing.
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How Loper Bright Weakens NEPA Enviro Justice Strategy
The National Environmental Policy Act is central to the Biden administration's environmental justice agenda — but the U.S. Supreme Court's recent decision in Loper Bright Enterprises v. Raimondo casts doubt on the government's ability to rely on NEPA for this purpose, and a pending federal case will test the strategy's limits, say attorneys at Perkins Coie.
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Heading Off Officials' Errors When Awarded A Gov't Contract
Government contractors awarded state or local projects funded through federal programs should seek clarification of their compliance obligations, documenting everything, or risk having to defend themselves when they seek reimbursement months later, with only their word for support, says George Petel at Wiley.
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Drip Pricing Exemption Isn't A Free Pass For Calif. Eateries
A new exemption relieves California bars and restaurants from the recently effective law banning prices that don't reflect mandatory fees and charges — but such establishments aren't entirely off the hook for drip pricing, due to uncertainty over disclosure requirements and pending federal junk fee regulations, say Alexandria Ruiz and Amy Lally at Sidley.
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Justices' Intent Witness Ruling May Be Useful For Defense Bar
At first glance, the U.S. Supreme Court’s recent Diaz v. U.S. decision, allowing experts to testify to the mental state of criminal defendants in federal court, gives prosecutors a new tool, but creative white collar defense counsel may be able to use the same tool to their own advantage, say Jack Sharman and Rachel Bragg at Lightfoot Franklin.
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Eye On Compliance: New Pregnancy And Nursing Protections
With New York rolling out paid lactation breaks and extra leave for prenatal care, and recent federal legislative developments enhancing protection for pregnant and nursing workers, employers required to offer these complex new accommodations should take several steps to mitigate their compliance risks, says Madjeen Garcon-Bonneau at Wilson Elser.
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How To Grow Marketing, Biz Dev Teams In A Tight Market
Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.
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FTC Focus: Private Equity Investments In Healthcare
As the Federal Trade Commission is tightening its scrutiny of private equity investment in healthcare, the agency is finding novel grounds to challenge key focus areas, including rollup acquisitions, the flip-and-strip approach and minority investments in rival providers, say attorneys at Proskauer.
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Jarkesy's Impact On SEC Enforcement Will Be Modest
Though the U.S. Supreme Court’s recent U.S. Securities and Exchange Commission v. Jarkesy decision found that fraud defendants have a constitutional right to a jury trial, the ruling will have muted impact on the agency’s enforcement because it’s already bringing most of its cases in federal court, say Jeremiah Williams and Alyssa Fixsen at Ropes & Gray.
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Opinion
Data Breach Reporting Requirements Must Change In AI Age
Outdated data breach reporting laws are inadequate to protect consumers in the age of artificial intelligence, as AI’s ability to determine relationships coupled with its improvements to deepfake technology mean that the very definitions used in breach reporting laws are no longer sufficient, says Collin Walke at Hall Estill.
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Unpacking HHS' Opinion On Cell Therapy Refund Programs
A recent advisory opinion from the U.S. Department of Health and Human Services, determining that a biopharma company's refund program for its cell therapy will not be penalized, indicates an encouraging willingness to engage, but the regulator's assumptions about the program's limited term warrant a closer look, says Mary Kohler at Kohler Health.
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New FARA Letters Offer Insight Into DOJ's Approach
The U.S. Department of Justice's recently released batch of 15 advisory opinions from the Foreign Agents Registration Act Unit provides important guidance on FARA registration triggers and exemptions, underscoring the breadth of FARA's scope, says Tessa Capeloto at Wiley.
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Series
Rock Climbing Makes Me A Better Lawyer
Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.