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Compliance
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January 07, 2025
CFTC Chair Behnam To Step Down When Trump Takes Office
U.S. Commodity Futures Trading Commission Chair Rostin Behnam announced Tuesday that he will resign his chairmanship on Inauguration Day in order to make way for new agency leadership under incoming President Donald Trump, who has yet to name Behnam's successor.
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January 07, 2025
CFPB Adopts Rule To Take Medical Debt Off Credit Reports
The Consumer Financial Protection Bureau moved ahead Tuesday with plans to restrict the use of medical debt information in credit scoring and lending, finalizing a rule that it said will take an estimated $49 billion in unpaid medical bills off consumers' credit reports.
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January 06, 2025
Exxon Says Calif. AG, Green Groups Defamed Recycling Effort
Exxon Mobil Corp. claims California's attorney general and a coalition of conservation groups have disparaged its reputation by declaring that the petrochemical company misled people about the effectiveness of plastic recycling and that its "advanced recycling" doesn't mitigate the problem, according to a lawsuit filed Monday in Texas federal court.
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January 06, 2025
Athira Inks $4M FCA Deal Over Ex-CEO's Research Fraud
Athira Pharma Inc. has agreed to pay $4 million to resolve allegations it used falsified academic research papers on neurological disorders like Alzheimer's to secure federal grants from the National Institute of Health, the U.S. Department of Justice announced Monday.
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January 06, 2025
9th Circ. Urged To Extend Freeze On Calif. Social Media Law
Tech trade group NetChoice is pressing the Ninth Circuit to stop California from beginning enforcement of a new social media addiction law on Feb. 1, arguing that the lower court "flouted" precedent when it refused to find that restricting minors' access to personalized feeds violates the First Amendment.
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January 06, 2025
FTC Urges Individuals And Cos. To Exercise Caution With AI
The U.S. Federal Trade Commission on Friday encouraged individuals and companies to exercise caution when it comes to interacting with and deploying so-called artificial intelligence systems and tools, citing the potential for various "real-world instances of harm," including privacy and security risks.
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January 06, 2025
Another Building Contractor Agrees To End No-Hire Pacts
The Federal Trade Commission said Monday that Planned Building Services has agreed not to enforce terms in its contracts that prevent building owners from hiring the service contractor's workers, in a second recent case targeting the building services industry.
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January 06, 2025
New Rules Won't Lift Political Clouds Over Hydrogen Projects
The Biden administration's new rules to make hydrogen production tax credits more accessible for project developers and investors may not move the needle much for the industry given President-elect Donald Trump's vow to at least partially repeal the statute that created the credits.
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January 06, 2025
Tether, Bitfinex Tap New GC After Longtime Lawyer Retires
Stablecoin issuer Tether and its sister company, crypto exchange Bitfinex, have tapped an in-house lawyer to become general counsel after their top lawyer of more than a decade retires.
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January 06, 2025
Booksellers Say End Of Arkansas Law Means Win In Texas
A group of booksellers pointed to an Arkansas judge's ruling striking down a law creating a penalty for the distribution of certain books to minors Monday as it urged a Texas federal judge to reject a bid for a pretrial win in a dispute over a similar law in that state.
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January 06, 2025
Boeing, DOJ Given More Time To Rework 737 Max Plea Deal
The U.S. Department of Justice and The Boeing Co. have until mid-February to rework a plea agreement in the American aerospace giant's 737 Max criminal conspiracy case, a Texas federal judge ruled Saturday, ensuring that the incoming Trump administration will oversee final negotiations on any potential new deal.
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January 06, 2025
Google Looks To Toss Big Tech Litigant's Antitrust Claims
Google asked a Florida federal court on Monday to dismiss antitrust claims from web development company Greenflight over the search giant's reverse phone number lookup, saying the newly amended suit does not rectify the pleading problems already pointed out by the court.
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January 06, 2025
Nasdaq Gets SPAC Investor's Racial Bias Claims Tossed
A federal judge decided Monday to toss a suit from an investor in a minority-led special purpose acquisition company claiming the Nasdaq Stock Market participated in race-based discrimination against investors, saying the plaintiff fails to allege that its injuries were a direct result of Nasdaq's actions.
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January 06, 2025
FCC Requires Reports Following TV Program 'Blackouts'
The Federal Communications Commission has voted to require multichannel video program distributors to report when programming "blackouts" occur due to impasses in carriage talks with broadcasters.
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January 06, 2025
FCC Chief Floats Spectrum Sale To Fund Network Security
The outgoing head of the Federal Communications Commission on Monday proposed to quickly get a spectrum auction off the ground with proceeds going toward a key U.S. network security program.
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January 06, 2025
DOD Adds WeChat Owner, CATL To Chinese Military Co. List
The U.S. Department of Defense added dozens of businesses Monday to its list of companies affiliated with the Chinese military, including electric-car battery maker CATL and Tencent Holdings Ltd. — owner of the popular text-messaging app WeChat — prompting Tencent to slam the designation as "clearly a mistake."
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January 06, 2025
Terraform Victims May Exceed 1M, Feds Say In Notice Request
The U.S. Department of Justice on Monday asked a Manhattan federal judge for permission to issue a public notice to notify potential victims of defunct cryptocurrency firm Terraform Labs' creator Do Kwon's alleged $40 billion fraud, saying there are too many victims — potentially more than one million — to do individual outreach.
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January 06, 2025
Judge Rejects Rape Kit Seller's 2nd Bid To Pause Wash. Ban
A Washington federal judge has denied a request for an injunction pending appeal by a company challenging the state's ban on the sale of "DIY" DNA collection kits for sexual assault survivors, reiterating his prior ruling that the law passes constitutional muster because it regulates conduct and not speech.
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January 06, 2025
T-Mobile's Lax Policies Led To 2021 Data Hack, Wash. AG Says
Washington's attorney general on Monday accused T-Mobile of repeatedly ignoring cyber-threat warnings leading up to a 2021 data breach that exposed sensitive personal data belonging to more than 2 million customers in the state.
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January 06, 2025
Monthly Merger Review Snapshot
The Federal Trade Commission successfully blocked Kroger's purchase of Albertsons while continuing to battle with Tempur Sealy and its planned buy of Mattress Firm, and Novo Nordisk managed to finalize its purchase of Catalent. Here, Law360 takes a look at some of the major merger review developments from December.
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January 06, 2025
SEC Seeks To Bar Milbank Probe From Dialysis Execs' Trial
The U.S. Securities and Exchange Commission said Monday that two dialysis company executives accused of accounting fraud should not be allowed to tell a jury about a Milbank LLP-led internal investigation they say found no evidence of intentional wrongdoing.
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January 06, 2025
FCC Warns Of $2.3M Pirate Radio Fine In Boston
The Federal Communications Commission on Monday warned a Dorchester, Massachusetts, property owner of a potential fine reaching more than $2.3 million for an alleged pirate radio operation.
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January 06, 2025
Sheppard Mullin Hires University Of Calif. Health Counsel
Sheppard Mullin Richter & Hampton LLP announced Monday that it has hired two attorneys who previously served in-house at the University of California to bolster its healthcare industry practice group.
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January 06, 2025
Biden Closes Off Coastal Areas To Offshore Drilling
President Joe Biden on Monday announced a ban on new offshore oil and gas drilling in more than 625 million acres of U.S. waters on the Atlantic and Pacific coasts and in Alaska after determining that the environmental and economic risks and harms outweigh the benefits of drilling.
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January 06, 2025
FTC Blasts Tempur Sealy's New Floor-Space Promise
The Federal Trade Commission told a Texas federal court a revised commitment from Tempur Sealy to preserve floor space for rivals in Mattress Firm stores would not restore the competition lost by a merger of the companies because it cannot be enforced.
Expert Analysis
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Marketing Messages Matter In State AG Consumer Protection
Attorneys general interpret marketing claims far more broadly than many companies may realize, so to mitigate potential risk, businesses should be vigilant about all consumer messaging, including communications that may not traditionally be considered advertising in the colloquial sense, say attorneys at Cozen O'Connor.
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How White Collar Defense Attys Can Use Summary Witnesses
Few criminal defense attorneys have successfully utilized summary witnesses in the past, but several recent success stories show that it can be a worthwhile trial tactic to help juries understand the complex decision-making at issue, says Jonathan Porter at Husch Blackwell.
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Cos. Must Brace For New PFAS Regulations And Litigation
The U.S. Environmental Protection Agency recently proposed adding over 100 per- and polyfluoroalkyl substances to the Toxic Release Inventory — and with increasing scrutiny of PFAS from the states and the plaintiffs bar as well, companies should take steps to reduce risks in this area, say attorneys at Dechert.
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Tips For Employers Facing Looming Immigration Changes
As Trump's second term heralds a challenging period for immigration policy, employers should look to lessons from his first administration as they implement strategies for their global talent programs and communications protocols, says Eileen Lohmann at BAL.
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Opinion
6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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How Landlords Can Navigate Cannabis-Related Leases
As the cannabis industry continues to rapidly grow, landlords should consider a variety of lease terms and operational details that may help mitigate uncertainty involving federal laws, zoning restrictions and tax implications, says Kyla Baker at Holland & Knight.
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Using Data To Inform Corporate Disclosure Decisions
With today’s market volatility and regulatory factors requiring public companies to confront competing transparency and protection demands, incorporating stock price reaction analysis of company-specific news into the controller's role could be beneficial for disclosure determinations, say Liz Dunshee at Fredrikson & Byron and Nessim Mezrahi at SAR.
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How White Collar Attys Can Use Mythic Archetypes At Trial
A careful reading of a classic screenwriting guide shows that fairy tales and white collar trials actually have a lot in common, and defense attorneys would do well to tell a hero’s journey at trial, relying on universal character archetypes to connect with the jury, says Jack Sharman at Lightfoot Franklin.
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How CFPB Rule Would Affect Data Brokers And Beyond
The Consumer Financial Protection Bureau recently proposed a rule that would not only expand data broker oversight by classifying many as consumer reporting agencies, but would also impose new limitations on companies seeking to obtain information from them, potentially requiring such entities to alter their business models, say attorneys at Orrick.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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Reviewing 2024's State Consumer Privacy Law Enforcement
While we are still in the infancy of state consumer privacy laws, a review of enforcement activity this year suggests substantial overlaps in regulatory priorities across the most active states and gives insight into the likely paths of future enforcement, says Thomas Nolan at Quinn Emanuel.
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5th Circ. Crypto Ruling Shows Limits On OFAC Authority
The Fifth Circuit's recent decision that immutable smart contracts on the Tornado Cash crypto-transaction software protocol are not "property" subject to Office of Foreign Assets Control jurisdiction may signal that courts can construe OFAC's authority more restrictively after Loper Bright, say attorneys at Morgan Lewis.
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Preparing For The New Restrictions On Investment Into China
In light of a new regulatory program governing U.S. investments in China-related technology companies of national security concern, investors should keep several considerations in mind, including the rules' effect on existing and new investments, compliance hurdles, and penalties for noncompliance ahead of the rules' January implementation, say attorneys at Gunderson Dettmer.
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Opinion
Congress Should Expand Investment Options For 403(b)s
Lawmakers should pass pending legislation to give 403(b) plan participants access to collective investment trusts, leveling the playing field for public sector retirement investors by giving them an investment option their private sector counterparts have had for decades, says Jason Levy at Great Gray Trust Company.
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AV Compliance Is Still A State-By-State Slog — For Now
While the incoming Trump administration has hinted at new federal regulations governing autonomous vehicles, for now, AV manufacturers must take a state-by-state approach to compliance with safety requirements — paying particular attention to states that require express authorization for AV operation, say attorneys at Frost Brown.