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Compliance
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July 17, 2024
Feds Uphold Tech Co.'s Fine For Auction Talks With AT&T
The Federal Communications Commission upheld its $100,000 fine against internet service provider AMG Technology Investment Group for discussing bidding strategy during an infrastructure funding auction with AT&T, saying it has no basis to reconsider the penalty Wednesday.
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July 17, 2024
Judge Trims Sentence For Crypto Expert Who Aided N. Korea
A New York federal judge has cut seven months from the sentence of a computer expert convicted of furthering North Korean blockchain development in light of recently revised U.S. sentencing guidelines.
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July 17, 2024
FCC To Vote On New Emergency Code For Missing Persons
The Federal Communications Commission announced Tuesday that it plans to vote Aug. 7 on new rules for radio and TV broadcasters to add a code for missing adults to the emergency alert system.
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July 17, 2024
Ex-Cognizant Execs Bemoan Access Woes In Bribery Case
Former Cognizant executives accused of authorizing a bribe to a government official in India have told a New Jersey federal court that obstacles to their access to evidence and overseas witnesses undermine their right to a fair trial and could warrant the dismissal of the case.
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July 17, 2024
Burr & Forman Accused Of Aiding Health Insurance Fraud
Burr & Forman LLP has been hit with a malpractice suit in Georgia federal court by the liquidating trustees of two purported health insurance companies after the firm allegedly aided in a scheme to defraud customers by charging exorbitant fees and denying promised coverage, saying the attorneys helped create a web of LLCs to which it siphoned off millions.
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July 17, 2024
'Curious' CFPB Agenda Item Sparks Buzz Over Contract Rules
A mystery item tucked into the Consumer Financial Protection Bureau's latest regulatory agenda is fueling speculation among attorneys that the agency may soon try to clamp down on some terms and conditions included in lenders' contractual agreements with consumer borrowers.
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July 17, 2024
Top Vista Investor Opposes $2.1B Kinetic Sale To Czech Co.
Gates Capital Management Inc., a top shareholder in Vista Outdoor Inc., is urging the sporting goods maker not to move ahead with a plan to sell part of its business to a Czech defense group, pushing instead for a spinoff or sale of the entire company, according to a Wednesday letter.
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July 17, 2024
New Mexico Adds Superfund Claims To PFAS Suit Against US
New Mexico is expanding its lawsuit against the federal government over costs related to cleaning up forever chemicals near military sites by utilizing a new rule listing the substances as hazardous under the Superfund law.
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July 17, 2024
FINRA Hires JPMorgan GC For Senior Enforcement Role
The Financial Industry Regulatory Authority has hired two new senior vice presidents of enforcement, one of whom is returning to the agency after serving as general counsel of JPMorgan Chase's wealth management line, the agency announced Wednesday.
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July 17, 2024
Ex-Goldman Sachs Analyst Gets Over 2 Years For Insider Tips
A Manhattan federal judge hit a former Goldman Sachs analyst with a 28-month prison sentence Wednesday for tipping his stepbrother and a friend to market-moving information, saying the Long Island native wanted to be "the big man" among his peers.
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July 17, 2024
Squire Patton Expands To Switzerland With Geneva Office
Squire Patton Boggs LLP has opened its 17th European location and its first in Switzerland with the launch of a new office in Geneva, the firm said Wednesday.
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July 17, 2024
TikTok Loses 1st Challenge Against EU Big Tech Law
TikTok lost its bid to escape European Union digital market rules on Wednesday, when the bloc's General Court found the social media platform's global market value shows the company has significant potential to make money from European users.
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July 16, 2024
Musk Says X, SpaceX Moving To Texas Over Calif. Gender Law
Elon Musk took to X Tuesday to announce he will be moving the headquarters of the social media company and his astronautics company, SpaceX, out of California to Texas, after Golden State Gov. Gavin Newsom signed a bill that bars policies mandating that teachers notify parents about students' gender identity.
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July 16, 2024
KBR Whistleblower Loses $1.1M Settlement Award At 5th Circ.
The Fifth Circuit on Tuesday reversed a KBR Inc. whistleblower's $1.1 million share of a False Claims Act settlement over alleged Iraq War contract kickbacks, agreeing with the federal government that the now-deceased whistleblower's estate deserved nothing since none of his claims were settled.
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July 16, 2024
Green Dot Brass Hid Declining Biz And Fed Action, Suit Says
The top brass at prepaid debit card company Green Dot Corp. has been hit with a derivative shareholder suit, alleging they concealed the company's faltering core business and a proposed consent order from the Federal Reserve Board over internal controls while board members sold millions of dollars worth of shares at inflated prices.
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July 16, 2024
FTC's In-House Kroger Case Delayed Until After Fed Suit
Kroger and Albertsons are getting a limited respite from the Federal Trade Commission's looming in-house merger challenge after an agency administrative law judge agreed to delay the case, but only until immediately after an Oregon federal court fight plays out.
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July 16, 2024
Kaspersky To End US Operations After Commerce Dept.'s Ban
A Russian cybersecurity and antivirus provider will begin closing U.S. operations and laying off workers Sunday, after the U.S. Department of Commerce banned it from selling its products in the U.S. or to U.S. citizens.
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July 16, 2024
Complex Knew Of Rust Before CO Leak, Dallas Jury Hears
A worker told a Dallas jury via video Tuesday that he identified rust and corrosion on an apartment complex boiler's vent pipe a year before a carbon monoxide leak left two children with debilitating conditions, closing the second day of a trial over the property owner's culpability in the incident.
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July 16, 2024
DC Circ. Knocks La. Site FERC Order, Tosses LNG Export Row
Two D.C. Circuit panels on Tuesday ruled the Federal Energy Regulatory Commission inadequately explained a failure to assess the significance of greenhouse gas emissions for proposed liquefied natural gas facilities in Louisiana, dismissing a challenge of approvals allowing a Texas project to send more of its LNG exports to nonfree trade agreement countries.
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July 16, 2024
Banks Say 'Ambiguity' Hampers FDIC's Digital Signage Rules
Major banking trade groups have urged the Federal Deposit Insurance Corp. to clarify its new rule on how banks should display digital branding about deposit insurance to online customers, saying their compliance efforts have been hampered by "significant ambiguity" in the rule.
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July 16, 2024
Ill. Judge Wants Expert Testimony Preview In Madigan Trial
An Illinois federal judge said Tuesday that he needs to hear more about potential testimony from certain Chicago politics experts and a proposal to research potential jurors before he decides whether either are appropriate for former state House speaker Michael Madigan's corruption trial.
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July 16, 2024
FCC's Media Ownership Rules Are 'Relics,' 8th Circ. Told
Broadcasters are pressing the Eighth Circuit to unravel the Federal Communications Commission's latest local media ownership rules, saying they are based on views of the industry that are long outdated.
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July 16, 2024
FCC Dings América Móvil For Lack Of Notice On Stock Reorg
Mexican mobile operator América Móvil has admitted to the Federal Communications Commission that it broke the rules by transferring control of certain FCC licenses and authorizations to a quartet of subsidiaries without informing the agency.
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July 16, 2024
Ex-Goldman Banker Denies Bribe Charges After Extradition
A former Goldman Sachs banker pled not guilty Tuesday before a Brooklyn federal magistrate judge to charges that he bribed Ghanaian officials, after losing an extradition battle in British courts.
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July 16, 2024
Accuser Says WWE Paid Doctor To Give Her Mystery Drugs
Celebrity doctor Carlon Colker gave a former World Wrestling Entertainment Inc. staffer unmarked drugs that made her feel sick and later refused to provide complete and accurate records on her visits there, according to her Tuesday complaint in Connecticut state court seeking information to support her sexual abuse suit against WWE founder Vince McMahon.
Expert Analysis
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Electrifying Transportation With Public-Private Partnerships
Many clean energy goals remain public policy abstractions that face a challenging road to realization — but public-private partnership models could be a valuable tool to electrify the transportation sector, says Michael Blackwell at Husch Blackwell.
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Navigating The New Rise Of Greenwashing Litigation
As greenwashing lawsuits continue to gain momentum with a shift in focus to carbon-neutrality claims, businesses must exercise caution and ensure transparency in their environmental marketing practices, taking cues from recent legal challenges in the airline industry, say attorneys at Baker McKenzie.
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In Memoriam: The Modern Administrative State
On June 28, the modern administrative state, where courts deferred to agency interpretations of ambiguous statutes, died when the U.S. Supreme Court overruled its previous decision in Chevron v. Natural Resources Defense Council — but it is survived by many cases decided under the Chevron framework, say Joseph Schaeffer and Jessica Deyoe at Babst Calland.
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Preparing For CFPB 'Junk Fee' Push Into Mortgage Industry
As the Consumer Financial Protection Bureau considers expanding its "junk fee" initiative into mortgage closing costs, mortgage lenders and third parties must develop plans now that anticipate potential rulemaking or enforcement activity in this space, say attorneys at Morgan Lewis.
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How High Court Approached Time Limit On Reg Challenges
The U.S. Supreme Court's decision in Corner Post v. Federal Reserve Board effectively gives new entities their own personal statute of limitations to challenge rules and regulations, and Justice Brett Kavanaugh's concurrence may portend the court's view that those entities do not need to be directly regulated, say attorneys at Snell & Wilmer.
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First-Of-Its-Kind Chancery Ruling Will Aid SPAC Defendants
The Delaware Chancery Court's first full dismissal of claims challenging a special purpose acquisition company transaction under the entire fairness doctrine in the recent Hennessy Capital Acquisition Stockholder Litigation establishes useful precedent to abate the flood of SPAC litigation, say Lisa Bugni and Benjamin Lee at King & Spalding.
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Series
After Chevron: FTC's 'Unfair Competition' Actions In Jeopardy
While the U.S. Supreme Court's decision ending Chevron deference will have limited effect on the Federal Trade Commission's merger guidelines, administrative enforcement actions and commission decisions on appeal, it could restrict the agency's expansive take on its rulemaking authority and threaten the noncompete ban, say attorneys at Baker Botts.
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Expect The Unexpected: Contracts For Underground Projects
Recent challenges encountered by the Mountain Valley Pipeline project underscore the importance of drafting contracts for underground construction to account for unexpected site conditions, associated risks and compliance with applicable laws, say Jill Jaffe and Brenda Lin at Nossaman.
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How To Clean Up Your Generative AI-Produced Legal Drafts
As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.
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Supreme Court's ALJ Ruling Carries Implications Beyond SEC
In its recent Jarkesy opinion, the U.S. Supreme Court limited the types of cases that can be tried before the U.S. Securities and Exchange Commission's in-house administrative law judges, setting the stage for challenges to the constitutionality of ALJs across other agencies, say Robert Robertson and Kimberley Church at Dechert.
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Opinion
A Tale Of 2 Trump Cases: The Rule Of Law Is A Live Issue
The U.S. Supreme Court’s decision this week in Trump v. U.S., holding that former President Donald Trump has broad immunity from prosecution, undercuts the rule of law, while the former president’s New York hush money conviction vindicates it in eight key ways, says David Postel at Henein Hutchison.
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Series
NC Banking Brief: All The Notable Legal Updates In Q2
After federal banking agencies last quarter released a supplemental final rule updating the Community Reinvestment Act, North Carolina banks involved in community development should consider how the new rule might open up opportunities for investment and services that can benefit underserved areas, says Adam Goldblatt at Michael Best.
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Series
Boxing Makes Me A Better Lawyer
Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.
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The Often Overlooked NY Foreclosure Notice Requirements
As multifamily real estate defaults mount, New York foreclosing parties should be aware of pitfalls and perils that can await the litigant who is not prepared to ensure adherence with tenant notice requirements under the Real Property Actions and Proceedings Law, say Christopher Gorman and John Muldoon at Rosenberg & Estis.
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Opinion
Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.