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Compliance
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April 03, 2025
FINRA Member Can't Avoid Testifying In Fraud Investigation
A District of Columbia federal judge has refused to immediately block the Financial Industry Regulatory Authority from requiring a New York financial adviser to testify in an investigation into alleged fraud, ruling there is "no likelihood of irreparable harm here."
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April 03, 2025
House GOP Launches Bid To Undo Calif. Emissions Waivers
Republican lawmakers unveiled on Thursday a trio of Congressional Review Act resolutions that seek to repeal California's clean-vehicle waivers created under the Biden administration that allowed the Golden State to ban gas-powered vehicles, heavy trucks and diesel engines by 2035, spurring swift opposition from at least one environmental group.
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April 03, 2025
CFPB Says It Will Reopen Small-Biz Lending Rule
The Consumer Financial Protection Bureau said Thursday that it will reopen its Biden-era rule requiring financial institutions to report data on their small business lending activity, the latest policy pivot for the agency under its new Trump-appointed leadership.
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April 03, 2025
Relator Can't Cut Gov't From DOD Price Gouging FCA Case
A Virginia federal judge has tossed a whistleblower False Claims Act case accusing several contractors of overcharging the military for replacement parts with the aid of the Defense Logistics Agency, after rejecting the relator's bid to cut the federal government as a plaintiff.
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April 03, 2025
Compounders Say Shortage Of Weight Loss Drug Continues
A group of compounding pharmacies looking to keep producing copycat doses of Eli Lilly & Co's lucrative weight loss drug tirzepatide are telling a Texas federal judge that demand for the drug has "far outpaced" supply despite the Food and Drug Administration declaring the medication's shortage over last year, a move that removed their right to make compounded versions.
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April 03, 2025
Samsung Can't Yet Beat Epic's Claim It Colluded With Google
A California federal judge denied Samsung's bid to end Epic Games' suit claiming it colluded with Google to skirt an impending injunction forcing Google to allow competition with its Play Store, saying Thursday the allegations are plausibly stated so "this is not time to put an end to the case."
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April 03, 2025
Former Admiral Loses Bid To Escape Bribery Case
A D.C. federal judge refused to dismiss charges the U.S. government brought against former Navy Admiral Robert P. Burke for allegedly steering a contract to a company in exchange for a lucrative post-retirement position, calling his attempt to escape the charges "meritless."
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April 03, 2025
Carrier Dealing Rule Is Fair, Maritime Regulator Tells DC Circ.
The agency that regulates the U.S. international ocean transportation system had "ample authority" to issue a rule defining "unreasonable" refusals to negotiate on the part of ocean carriers, the regulator has argued in response to a challenge from an affected trade association.
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April 03, 2025
Crypto Co. Sentenced In Fed Market Manipulation Suit
United Arab Emirates-based CLS Global FZC LLC has been sentenced in Massachusetts federal court on criminal charges over running a fraudulent "wash trading" scheme after it pled guilty to the charges in January and agreed to stop working in the U.S. cryptocurrency industry.
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April 03, 2025
CFTC Taps New Acting Head Of Market Oversight Division
The Commodity Futures Trading Commission announced Wednesday that its Division of Market Oversight will be headed on an acting basis by a longtime employee of the derivatives market regulator who helped start the division's Market Intelligence Branch.
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April 03, 2025
DC Circ. Steps In To Pause CFPB Order As Judge Denies Stay
A D.C. Circuit panel on Thursday put a temporary, limited hold on a federal judge's preliminary injunction barring further cuts at the Consumer Financial Protection Bureau, even as the judge herself largely denied a Trump administration bid to stay it for appeal.
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April 03, 2025
House Moves Stablecoin Bill Despite Dems' Conflict Concerns
The House Financial Services Committee advanced its federal framework for stablecoins just before midnight Wednesday following hours of markup during which Democrats raised concerns that the Trump family and administration officials' involvement with crypto ventures will create conflicts of interest.
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April 03, 2025
UFC Asks Court To Deny Class Cert. In Fighters' Antitrust Suit
UFC has urged a Nevada federal court not to certify a class of fighters in the second antitrust lawsuit it is facing over allegedly suppressed wages, saying the class is legally defective because the plaintiffs who filed the lawsuit cannot represent the group of fighters.
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April 03, 2025
Justices' Ruling Empowers FDA To Rein In Vapes, Experts Say
A unanimous U.S. Supreme Court decision affirming federal regulators' authority to deny marketing applications for flavored vapes was noted as a victory for federal agency autonomy, but vaping industry interests said it could remove a crucial harm reduction tool.
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April 03, 2025
Google, Apple Staff Must Testify In Meta Antitrust Case
A D.C. federal judge said current and former employees of Google, Apple, TikTok, X Corp., Snap and other tech companies must testify at the Federal Trade Commission's upcoming antitrust trial against Meta Platforms Inc.
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April 03, 2025
$10M Heritage Pharma Price-Fixing Deal Gets Final OK
A Connecticut federal judge granted final approval to a $10 million deal between Heritage Pharmaceuticals Inc., its parent company Emcure Pharmaceuticals Ltd. and Emcure's founder Satish Mehta to resolve claims from a coalition of states accusing them of conspiring with other companies to inflate generic drug prices.
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April 03, 2025
Tribes Seek Priority Window For Upcoming Spectrum Auction
Native American tribes pressed the Federal Communications Commission to let them apply during a priority window for an upcoming auction of commercial spectrum, as the FCC has done previously to boost tribal connectivity.
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April 03, 2025
Echoing EEOC, Red State AGs Target Law Firms Over DEI
A dozen Republican state attorneys general on Thursday urged 20 law firms to fork over information the U.S. Equal Employment Opportunity Commission requested last month about their workplace diversity practices, doubling down on the acting EEOC chair's claim that those practices may be unlawful.
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April 03, 2025
6th Circ. Backs $10M Gas Royalty Judgment Against Antero
A Sixth Circuit panel affirmed an Ohio district court ruling holding that Antero Resources Corp. underpaid a class of Buckeye State landowners $10 million by improperly deducting costs from their natural gas royalties.
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April 03, 2025
SEC's Gemini Crypto Trading Suit Paused For More Deal Talks
A New York federal judge paused the U.S. Securities and Exchange Commission's unregistered securities trading claims against cryptocurrency exchange Gemini Trust Co. after the agency and the company informed the court they were approaching a resolution, which would be the second deal reached in the case.
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April 03, 2025
'No Serious Question' Federal Firings Broke Law, Justices Told
Federal employee unions and advocacy groups urged the U.S. Supreme Court on Thursday to reject the Trump administration's bid to pause a California court order reinstating tens of thousands of probationary workers fired from six agencies, arguing the government can't escape self-inflicted harms brought on by its allegedly unlawful actions.
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April 03, 2025
Senate Advances Noms Of Trump's SEC, OCC Picks
The U.S. Senate Banking Committee voted along party lines Thursday to advance the nominations of President Donald Trump's chosen leaders for the U.S. Securities and Exchange Commission and the Office of the Comptroller of the Currency, sending both to the full Senate for a final confirmation vote.
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April 03, 2025
Carnegie Mellon Student Sues Over August 2023 Data Hack
A Carnegie Mellon University student launched a proposed class action in Pennsylvania federal court on Thursday alleging that despite charging students a $470 technology fee presumably meant for maintaining network data security, the school negligently failed to stop an August 2023 hacking event that compromised students' personally identifiable information.
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April 03, 2025
EU Authorities Arrest 3 In €50M VAT Fraud Investigation
Authorities have arrested three people for their alleged ties to a €50 million ($55 million) value-added tax fraud scheme involving the trade of electronic goods, the European Public Prosecutor's Office said Thursday, tying this fraud to a larger €195 million scheme that is still under investigation.
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April 03, 2025
Judge OKs Toss Of FCPA Case Against Ex-Cognizant Execs
A New Jersey federal judge on Thursday granted the federal government's bid to end the Foreign Corrupt Practices Act case against two former executives of Cognizant Technology Solutions Corp., ending a legal battle that was beset by delays throughout its six-year run.
Expert Analysis
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Opinion
It's Time To Fix The SEC's Pay-To-Play Rule
Nearly 15 years after its adoption, the U.S. Securities and Exchange Commission's pay-to-play rule is not working as intended — a notion recently echoed by SEC Commissioner Hester Peirce — and the commission should reconsider the strict liability standard, raise the campaign contribution limits and remove the look-back provision, say attorneys at WilmerHale.
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Opinion
CPSC's Amazon Ruling Is A Win For Safety, Accountability
A recent U.S. Consumer Product Safety Commission order classifying Amazon.com as a distributor, and requiring it to comply with notice, recall, refund and remediation obligations for defective products, is a major victory for consumer safety — and for attorneys pursuing product liability claims against major online retailers, says Donald Fountain at Clark Fountain.
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Cross-Border Lessons In Using Hague Evidence Convention
Recent case law demonstrates that securing evidence located abroad requires a strategic approach, including utilization of the Hague Evidence Convention and preparation to justify your chosen evidence-gathering path, say attorneys at Fish & Richardson.
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4 Ways Women Attorneys Can Build A Legal Legacy
This Women’s History Month, women attorneys should consider what small, day-to-day actions they can take to help leave a lasting impact for future generations, even if it means mentoring one person or taking 10 minutes to make a plan, says Jackie Prester, a former shareholder at Baker Donelson.
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UK Refusal Of US Extradition Request May Set New Standard
The recent U.K. Supreme Court ruling in El-Khouri v. U.S., denying a U.S. extradition request, overturns a long-held precedent and narrows how U.K. courts must decide such requests, potentially signaling a broader reevaluation of U.K. extradition law, say lawyers at Dechert and Kingsley Napley.
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Navigating The Growing Thicket Of 'Right To Repair' Laws
An emerging patchwork of state laws on the right to repair creates tensions with traditional intellectual property and competition principles, so manufacturers should plan proactively for legal disputes and minimize potential for rival third-party repairs to weaponize state laws, say attorneys at Reed Smith.
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Justices' Revival Ruling In Bias Suit Exceeds Procedural Issue
The U.S. Supreme Court's recent ruling in Waetzig v. Halliburton allowed the plaintiff in an age discrimination lawsuit to move to reopen his case after arbitration, but the seemingly straightforward decision on a procedural issue raises complex questions for employment law practitioners, says Christopher Sakauye at Dykema.
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Why A Rare SEC Dismissal May Not Reflect A New Approach
While the U.S. Securities and Exchange Commission's pending dismissal of its case against Silver Point is remarkable to the extent that it reflects a novel repudiation of a decision made during the prior commission, a deeper look suggests it may not represent a shift in policy approach, say attorneys at Weil.
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Unpacking First Consumer Claim Under Wash. Health Data Act
The first consumer class action claim filed under Washington's My Health My Data Act, Maxwell v. Amazon.com, may answer questions counsel have been contending with since the law was introduced almost a year ago, if the court takes the opportunity to interpret some of more opaque language, say attorneys at Polsinelli.
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Deficiency Trends In National Futures Association Exams
A recent notice from the National Futures Association outlining the most common deficiencies uncovered during exams gives member firms an opportunity to review prior guidance, particularly regarding the hot topic of implementing procedures governing the use of outsourced service providers, say attorneys at Akin.
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A Judge's Pointers For Adding Spice To Dry Legal Writing
U.S. District Judge Fred Biery shares a few key lessons about how to go against the grain of the legal writing tradition by adding color to bland judicial opinions, such as by telling a human story and injecting literary devices where possible.
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Mastering The Fundamentals Of Life Sciences Due Diligence
As life sciences transactions continue to gain tremendous momentum, companies participating in these transactions must conduct effective and strategic regulatory due diligence, which involves extensive amounts of information and varies by manifold factors, says Anna Zhao at GunnerCooke.
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A Close-Up Look At DOJ's Challenge To HPE-Juniper Deal
The outcome of the Justice Department's challenge to Hewlett Packard Enterprise's proposed $14 billion acquisition of Juniper Networks will likely hinge on several key issues, including market dynamics and shares, internal documents, and questions about innovation and customer harm, say attorneys at McDermott.
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Why NY May Want To Reconsider Its LLC Transparency Law
Against the backdrop of the myriad challenges to the federal Corporate Transparency Act, it may be prudent for New York to reconsider its adoption of the LLC Transparency Act, since it's unclear whether the Empire State's "baby-CTA" statute is still necessary or was passed prematurely, say attorneys at Pillsbury.
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Pleading Rules At Stake In High Court Hamas Banking Case
While a case between victims of Hamas terrorist attacks and a Lebanese bank, recently argued before the U.S. Supreme Court, appears to ask a narrow question of which civil procedure rules apply to requests to reopen final judgments, how the justices rule could drastically change pleading strategies for future plaintiffs, say attorneys at Dorsey & Whitney.