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Compliance
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August 28, 2024
Injured Driver Asks 6th Circ. To Revive Hyundai Car-Theft Suit
An Ohio motorist who was injured in a crash involving a stolen Hyundai vehicle driven by a teenager told the Sixth Circuit on Wednesday that the automaker must be held liable for knowingly selling defective theft-prone vehicles, and ineffectively combating a viral TikTok trend that launched a car-theft "epidemic."
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August 28, 2024
US, Canada Agree To Work Together On Privacy Enforcement
The Federal Communications Commission said Wednesday it has inked an agreement with Canada's privacy regulator to share information and cooperate on enforcement actions to protect consumers' data.
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August 28, 2024
Mont. Hospital Pays $11M In FCA Case For Doc's Fake Billing
Nonprofit healthcare center St. Peter's Health will pay nearly $11 million to settle alleged False Claims Act violations stemming from conduct by a former oncology doctor who submitted fraudulent claims to government programs for up-coded cancer treatment services and who double-billed office visits to boost his own salary, according to the U.S. Attorney's Office for the District of Montana.
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August 28, 2024
Rural Carriers Say Broadband Map Errors Undermine 5G Fund
Rural wireless carriers are urging the Federal Communications Commission to verify broadband map data on its own in order to resolve long-standing concerns that inaccurate industry maps of the country's broadband coverage threaten the effective distribution of the FCC's recently revived 5G Fund.
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August 28, 2024
Wash. AG Fears Kroger Will Move Goalposts For Merger Trial
The Washington Attorney General's Office told a state court Wednesday that Kroger refuses to commit to sticking with the current terms of its divestiture package in its merger with Albertsons, which the state fears would unfairly "move the goalposts" less than three weeks before a trial on the state's merger challenge kicks off.
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August 28, 2024
The Biggest Enviro Cases To Watch In 2024: Midyear Report
Environmental attorneys can expect to see several developments in pending litigation during the remainder of 2024, including two cases that the U.S. Supreme Court has agreed to hear about Clean Water Act regulations for San Francisco and the extent of the federal government's authority as part of environmental reviews for projects. Here are some of the biggest cases to watch in the rest of 2024.
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August 28, 2024
The NFL-Approved PE Firms That Can Now Invest In Teams
The NFL made a landmark decision Tuesday to approve private equity ownership of teams, making it the last major North American sports league to bring PE dollars into the mix. It’s not a free-for-all, however; to start, the league selected specific funds that are now allowed to take non-controlling interests in teams. Here, Law360 looks at the approved investment players.
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August 28, 2024
NY Biz Group Rips FTC Suit Over $8.5B Luxury Handbags Deal
A New York City business group is urging Empire State Democratic lawmakers to oppose the Federal Trade Commission's "ideologically motivated litigation" to block an $8.5 billion deal that would bring together brands including Michael Kors, Kate Spade and Coach.
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August 28, 2024
Tech Co. Defends GoDaddy Antitrust Claims
The maker of a tool for connecting domains to third-party applications is defending its antitrust case against GoDaddy, telling a Virginia federal court the world's largest domain registrar is forcing customers to use its own configuration product.
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August 28, 2024
Yelp Sues Google Over Reviews Self-Preferencing
Yelp sued Google in California federal court Wednesday, targeting the self-preferencing of Google's own local search offerings as illegal monopolization after years of public lobbying against the search giant.
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August 28, 2024
SEC Omits 'Swing Pricing' Plan From Fund Disclosure Rules
A divided U.S. Securities and Exchange Commission on Wednesday agreed to require more detailed and frequent disclosures from mutual funds, though regulators dropped plans — at least for now — to implement a controversial "swing pricing" provision.
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August 28, 2024
TikTok Lawsuit, Kids' Privacy Bills Push Cos. 'Back To Basics'
The federal government's lawsuit challenging TikTok's policing of kids on its platform and mounting efforts to boost online protections for teens is ramping up pressure on a broad range of website operators, highlighting the importance for companies to think beyond existing legal frameworks to avoid growing legal scrutiny.
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August 28, 2024
IRS Must Reconsider Pair's Ability To Pay Tax Liability
The U.S. Tax Court sent a case involving a levy against a pair of Californians for six years' worth of tax deficiencies back to the IRS' Office of Appeals, saying Wednesday that more work needs to be done to determine the couple's ability to pay.
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August 28, 2024
Atlanta's Ex-CFO Gets 3 Years For 'Triple-Dipping' In Coffers
Atlanta's former chief financial officer became the latest city hall official to head to prison on corruption charges Tuesday, after getting hit with a three-year prison sentence for what prosecutors called a "triple-dipping" scheme into city coffers to pay for swanky vacations and illegal firearms.
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August 28, 2024
Conn. Dental Practices Settle False Claims Case For $1.7M
Three dental practices in Connecticut and their owners have paid a $1.7 million settlement after federal and state authorities accused them of using an illegal patient recruiting tactic and paying kickbacks that ripped off Medicaid.
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August 28, 2024
Justices Won't Revive Student Debt Relief Plan Right Now
The U.S. Supreme Court on Wednesday refused to reinstate President Joe Biden's latest student loan debt relief program, leaving the $475 billion plan on ice until the Eighth Circuit decides whether the administration has the authority to continue its new push to reduce student loan bills for millions of people.
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August 28, 2024
Jones Walker Adds In-House Vet To Co-Lead Privacy, AI Team
Jones Walker LLP has a new co-leader of its privacy, data strategy and artificial intelligence team in Atlanta who has served in prominent in-house roles at both global consulting firm Vialto Partners and EY.
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August 28, 2024
Top Gov't Contracts Cases To Watch In The 2nd Half Of 2024
Federal courts in the latter half of 2024 are expected to scrutinize a strict federal registration requirement for contractors and decide whether whistleblower False Claims Act cases are constitutional, potentially affecting a key federal anti-fraud tool. Here, Law360 previews key disputes that government contractors should have on their radar in the second half of the year.
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August 27, 2024
Miss. Seafood Co. Pleads Guilty To 'Fish Substitution' Scheme
The largest seafood wholesaler in the Mississippi Gulf Coast and two of its managers pled guilty Tuesday to scheming with others to market and sell cheap frozen fish imports as premium and locally sourced, federal prosecutors in Mississippi announced.
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August 27, 2024
Wells Fargo Says 'Good Faith' Efforts Ax Investors' Bias Suit
Wells Fargo & Co. urged a California federal judge Tuesday to toss a derivative lawsuit filed by a putative class of shareholders claiming the bank's board of directors failed to address its discriminatory lending and hiring practices, saying there's evidence of "good-faith" efforts to monitor compliance in those areas.
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August 27, 2024
Exec To Pay SEC $190K Over Macquarie Insider Trading Claim
The U.S. Securities and Exchange Commission says a New York man who used inside information he learned as a Macquarie Group investor relations executive to profit from a then-pending deal to sell its airport services business to KKR & Co. has agreed to pay nearly $190,000 to settle the agency's claims that he violated securities laws.
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August 27, 2024
CFPB Late Fee Rule Has Slim Ties To Fort Worth, Judge Says
A Texas federal judge had stern words for the U.S. Chamber of Commerce during a Tuesday hearing over a lawsuit challenging the CFPB's new credit card late fee rule in Fort Worth, saying that if judges' impartiality is in question "we need to just turn it in" as a country.
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August 27, 2024
Walmart Has To Face EEOC Again After Losing Bias Trial
The Seventh Circuit gave the Equal Employment Opportunity Commission another chance Tuesday to force Walmart to boost its disability accommodation training after a jury found it intentionally discriminated against an employee with Down syndrome, and affirmed what was originally a $125 million jury verdict later reduced to $419,000.
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August 27, 2024
Navy Shipbuilder Pleads Guilty To Accounting Fraud
A shipbuilder that contracts with the U.S. Navy pled guilty Tuesday to accounting fraud as part of a settlement to resolve criminal and civil investigations.
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August 27, 2024
NY Pension Funds Join Illumina Deal Suit Pile-On In Del.
New York state's retirement system and fund have added a new derivative suit to widening stockholder litigation over Illumina Inc.'s $8 billion reacquisition of cancer testing company Grail Inc. despite European Commission regulatory agency opposition.
Expert Analysis
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How Corner Post Affects Enviro Laws' Statutes Of Limitations
The U.S. Supreme Court's recent ruling in Corner Post v. Federal Reserve Board has helped to alter the fundamental underpinnings of administrative law — and its plaintiff-centric approach may have implications for some specific environmental laws' statutes of limitations, say Chris Leason and Liam Martin at Gallagher and Kennedy.
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How Gov't AI Protections May Affect Contractors' Data Rights
The U.S. Senate’s proposed National Defense Authorization Act for 2025, which includes provisions to maintain the government's data rights when contracting for artificial intelligence, should prompt contractors to examine how to protect their own rights when the current data rights framework is applied to AI, say Tyler Evans and Caitlin Conroy at Steptoe.
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Jarkesy May Thwart Consumer Agencies' Civil Penalty Power
The U.S. Supreme Court's ruling in U.S. Securities and Exchange Commission v. Jarkesy not only implicates future SEC administrative adjudications, but those of other agencies that operate similarly — and may stymie regulators' efforts to levy civil monetary penalties in a range of consumer protection enforcement actions, say attorneys at Holland & Knight.
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Considerations As State AGs Step Up Privacy Enforcement
As new state privacy laws take effect, businesses are facing an increasingly complex patchwork of compliance obligations and risk of scrutiny by attorneys general, but companies can gain a competitive edge by building consumer trust and staying ahead of regulatory trends, say Ann-Marie Luciano and Meghan Stoppel at Cozen O’Connor.
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Lessons From Recent SEC Cyber Enforcement Actions
The recent guidance by the SEC's Division of Corporation Finance is helpful to any company facing a cybersecurity threat, but just as instructive are the warnings raised by the SEC's recent enforcement actions against SolarWinds, R.R. Donnelley and Intercontinental Exchange, say attorneys at O'Melveny.
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2nd Circ. Ruling Reaffirms Short-Swing Claims Have Standing
The Second Circuit's recent ruling in Packer v. Raging Capital reversing the dismissal of a shareholder's Section 16(b) derivative suit seeking to recover short-swing profits for lack of constitutional standing settles the uncertainty of the district court's decision, which could have undercut Congress' intent in crafting Section 16(b) in the first place, say attorneys at Simpson Thacher.
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Viral Layoffs: How Cos. Can Avoid Bad Social Media Exposure
A recent trend of employees using social media to document their experiences with layoffs and disciplinary actions in the workplace should prompt employers to take additional precautions to avoid former workers' negative viral reviews when deciding how, when and what to communicate to employees, say Scott McIntyre and Chrissy Kennedy at BakerHostetler.
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Inside OCC's Retail Nondeposit Investment Products Refresh
In addition to clarifying safe and sound risk management practices generally, the Office of the Comptroller of the Currency's revised booklet on retail nondeposit investment products updates its guidance around certain sales practices in light of the U.S. Securities and Exchange Commission's adoption of Regulation Best Interest, say attorneys at Debevoise.
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Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?
A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.
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Loper Fuels Debate Over Merchant Cash Advances As Credit
The U.S. Supreme Court's recent rejection of the Chevron doctrine in Loper Bright may escalate a Florida federal court dispute between the Revenue Based Finance Coalition and the Consumer Financial Protection Bureau over whether merchant cash advances should be considered credit under the Dodd-Frank Act, say attorneys at Sheppard Mullin.
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Bank M&A Continues To Lag Amid Regulatory Ambiguity
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.
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FTC's Drug Middlemen Probe Highlights Ongoing Scrutiny
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.
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Nuclear Power Can Help Industrial Plants Get To Net-Zero
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.
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Why The SEC Is Targeting Short-And-Distort Schemes
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.
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DOJ Paths To Limit FARA Fallout From Wynn's DC Circ. Win
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.