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Compliance
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December 19, 2024
Ex-AT&T Exec Gets New Bribery Trial Date After Jury Deadlock
The former head of AT&T's Illinois division, who is accused of bribing ex-Illinois House Speaker Michael Madigan, will be tried again in June after his case resulted in a hung jury earlier this year, a federal court judge said Thursday.
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December 19, 2024
EU Opens In-Depth Probe Of Liberty's $3.6B MotoGP Deal
European antitrust regulators are investigating Liberty Media's proposed acquisition of Dorna Sports, citing concerns that the €3.5 billion deal could harm competition in motorsports broadcasting and drive up licensing costs.
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December 19, 2024
Casinos Say DOJ Has No 'Starting Point' For Room Rates
Las Vegas casino hotels urged the Ninth Circuit on Wednesday not to revive the first algorithmic price-fixing case to reach an appeals court, in a brief that took direct aim at the Justice Department's amicus intervention in the room rate lawsuit.
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December 19, 2024
Michigan's Biggest Decisions Of 2024
This year, the Michigan Supreme Court instituted sweeping changes to the state's wage and paid leave laws, took some damages off the table for wrongful death plaintiffs, and recognized third-party retaliation claims.
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December 19, 2024
Denmark Says $500M Recovered In Dividend Tax Fraud Suits
Denmark's tax administration has recovered a total of 3.6 billion Danish kroner ($500 million) in money lost to suspected dividend tax refund fraud after entering settlements of civil cases in several countries in 2024, Denmark's tax minister announced.
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December 19, 2024
Chemours, DuPont Say New Info Undermines Class Cert.
The Chemours Co. FC LLC and EIDP Inc. are asking a North Carolina federal judge to decertify classes in a consolidated suit alleging that they knew about PFAS leaks into their water systems, saying information that's come to light since the certification disqualifies the named plaintiffs from representing the class and undermines the alleged common proof of their claims.
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December 19, 2024
Tencent Removes 2 Epic Directors Following DOJ Scrutiny
Two Epic Games directors appointed by Tencent Holdings are stepping down from Epic's board after the U.S. Department of Justice said their positions could constitute antitrust law violations, the agency has announced.
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December 19, 2024
Addiction Group Pays $2M In Mass. AG False Billing Probe
An addiction treatment physician group with offices across western Massachusetts will pay $2 million to settle allegations that it overcharged for visits and billed for tests that were not medically necessary, the state's attorney general said Thursday.
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December 18, 2024
Pharma Trial Consultant To Pay SEC $3M Over Insider Trading
An oncologist and clinical professor at the University of California, Irvine agreed to pay the U.S. Securities and Exchange Commission $3 million to resolve allegations he purchased shares in a Massachusetts biotech company based on insider information regarding a clinical trial he was overseeing, the SEC announced Wednesday.
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December 18, 2024
NYC Agrees To Pay Immigrants $92.5M In Overdetention Suit
A New York state court Wednesday gave the initial OK to New York City's agreement to pay a class of over 20,000 individuals up to $92.5 million to resolve decadelong allegations the city unlawfully detained immigrants for days or weeks longer than allowed under U.S. Immigration and Customs Enforcement detainers.
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December 18, 2024
Feds Get Judge's OK On $150M Lower Passaic Pollution Deal
A New Jersey federal judge Wednesday signed off on the federal government's $150 million consent decree with 82 companies that share some responsibility for the Garden State's Lower Passaic River pollution, calling the agreement "an important next step" in holding the companies accountable and furthering cleanup efforts.
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December 18, 2024
Split 9th Circ. Backs 46-Month Prison Term For Stock Pumper
A divided Ninth Circuit on Wednesday affirmed a 46-month sentence for a Canadian man convicted of securities fraud in a pump-and-dump scheme involving a cannabis and gaming company, rejecting his argument that the lower court erred by calculating "intended loss" to enhance his sentence, since circuit precedent recognizes both actual and intended losses.
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December 18, 2024
Charles Schwab Says Ex-Employee Stole Client Info
Charles Schwab has filed a suit in Texas federal court accusing a former employee of misappropriating confidential trade secrets and client information to solicit business once he joined a competitor.
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December 18, 2024
OCC Orders 'Comprehensive' Remedial Action For USAA Bank
The Office of the Comptroller of the Currency on Wednesday hit USAA Federal Savings Bank with curbs on new product additions and membership growth as part of a fresh consent order that follows prior enforcement actions against the military-focused bank.
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December 18, 2024
Emissions Cheating Biz Gets Truck Tuning Co. CEO 10 Months
The owner of a prominent Louisiana automotive tuning company will serve 10 months of a three-year probation term on house arrest in addition to paying a $1.55 million criminal fine after pleading guilty to selling illegal software that bypassed diesel trucks' emissions controls, the U.S. Department of Justice announced Wednesday.
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December 18, 2024
Vaxart Investors Win Class Cert. Over COVID Shot On 2nd Try
A California federal judge has certified a class of Vaxart investors accusing the biotechnology company's onetime controlling shareholder of dumping stock at inflated prices following deceptive headlines about a COVID-19 vaccine, saying the investors' revised motion fixes issues of predominance and the damages model.
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December 18, 2024
Acima Says CFPB's 'Baseless' Power-Grab Suit Must Go
Rent-A-Center affiliate Acima has urged a Utah federal judge to throw out a Consumer Financial Protection Bureau lawsuit accusing the lease-to-own fintech company of predatory lending practices, arguing that the agency has an unconstitutional funding mechanism and lacks the authority to regulate lease-to-own businesses, among other things.
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December 18, 2024
High Court Bar's Future: McDermott's Paul Hughes
Paul W. Hughes of McDermott Will & Emery LLP knows U.S. Supreme Court oral arguments are unpredictable — you can end up as the butt of a justice's joke or have the whole bench fully embrace your novel legal theory — so he focuses on what he can control: being overprepared for any version of the court he meets.
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December 18, 2024
Schools Fighting Price-Fixing Suit Face $685M Damages Claim
Students looking to hold a group of elite universities and colleges liable for an allegedly anticompetitive financial aid fixing scheme say they should be allowed to proceed as a class because they'll use common evidence to prove they suffered about $685 million in damages.
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December 18, 2024
FDIC Moves Closer To Suing Ex-Brass Of Silicon Valley Bank
Federal Deposit Insurance Corp. leaders have given a green light for the agency to potentially sue former top brass of Silicon Valley Bank for alleged mismanagement of the bank that led to its collapse last year.
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December 18, 2024
Standing Unchanged In Gun Show Loophole Case, States Say
A Texas-led coalition of states has told a federal judge that the ATF failed to "move the needle" in arguing that several pro-Second Amendment organizations don't have standing to challenge a Biden administration rule that would broaden the scope of who qualifies as a firearms dealer.
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December 18, 2024
Divided SEC Approves PCAOB's $400M Budget
The Public Company Accounting Oversight Board will receive the nearly $400 million it requested to fund its operations in 2025, despite the objections of Republican members of the U.S. Securities and Exchange Commission on Wednesday who expressed concern about the auditing watchdog's growing budget.
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December 18, 2024
NJ Court Orders AG To Give Up Control Of Paterson Police Dept.
New Jersey Attorney General Matthew J. Platkin exceeded his authority last year when he took over police department operations in the city of Paterson and reassigned the police chief to a training post outside the city, a state appellate court ruled Wednesday.
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December 18, 2024
State AGs, Generic Cos. Fight Over Price-Fixing Trial Order
A contingent of state-level enforcers told a Connecticut federal court there is no need to reconsider prioritizing a sprawling generic drug price-fixing case that involves more than 100 medications over a narrower case the drugmakers are asking to have tried first.
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December 18, 2024
DOJ Wants Misconduct Allegations Hushed In Used Car Case
The U.S. Department of Justice wants to bar defendants accused of violently controlling the cross-border transport of American used cars into Central America from raising accusations of misconduct by nonwitness law enforcement officers to the jury without prior approval from the Texas federal judge overseeing the case.
Expert Analysis
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How Judiciary Can Minimize AI Risks In Secondary Sources
Because courts’ standing orders on generative artificial intelligence and other safeguards do not address the risk of hallucinations in secondary source materials, the judiciary should consider enlisting legal publishers and database hosts to protect against AI-generated inaccuracies, say attorneys at Lankler Siffert & Wohl.
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Bitnomial Suit Highlights Crypto Turf War Between SEC, CFTC
An outcome favoring Bitnomial in its recent lawsuit against the U.S. Securities and Exchange Commission could reinforce the U.S. Commodity Futures Trading Commission's authority and limit the SEC's reach in the crypto arena, illustrating the need for Congress to delineate boundaries between the agencies, says Tonya Evans at Penn State Dickinson Law.
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False Patent Marking Claims Find New Home In Lanham Act
While the Patent Act may have closed the courthouse doors for many false patent marking claims, the Federal Circuit, in its recent decision in Crocs v. Effervescent, may be opening a window to these types of claims under the Lanham Act, says John Cordani at Robinson & Cole.
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Jarkesy May Short-Circuit FERC Enforcement Cases
As a result of the U.S. Supreme Court's June decision in U.S. Securities and Exchange Commission v. Jarkesy, the Federal Energy Regulatory Commission recently suspended an enforcement proceeding under the Natural Gas Act — and the commission's customary use of administrative hearings in such proceedings could face major changes, say attorneys at Willkie.
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Digging Into CFPB's Overdraft Fee Consent Guidance
Although a recent Consumer Financial Protection Bureau circular may seem unassuming, a closer read reveals the bureau is escalating its clampdown on nonconsensual debit card overdraft fees by expanding financial institutions' record-retention obligations beyond a two-year statutory requirement, say attorneys at Cooley.
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A Look At Calif. Biz Code And The Fight Over Customer Lists
To ensure Uniform Trade Secret Act security, California staffing agencies and their attorneys should review Section 16607 of the state Business Code, which prohibits contracts that restrain employees from engaging in other lawful types of business, to understand the process for determining whether a customer list constitutes a trade secret, says Skye Daley at Buchalter.
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How Attorneys Can Break Free From Career Enmeshment
Ambitious attorneys can sometimes experience career enmeshment — when your sense of self-worth becomes unhealthily tangled up in your legal vocation — but taking the time to discover and realign with your core personal values can help you recover your identity, says Janna Koretz at Azimuth Psychological.
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A Look At Insurance Coverage For Government Investigations
Attorneys at Jenner & Block discuss the quirks and potential pitfalls of insurance coverage for government claims and investigations, including those likely to arise from the U.S. Department of Justice's recently announced whistleblower program.
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UCC Article 12 Offers Banks A Chance To Dive Into 'DePINs'
The 2022 update to Article 12 of the Uniform Commercial Code, which provides a legal framework for decentralized physical infrastructure networks, could offer trade and commodity finance banks attractive opportunities, like the energy-related DePIN projects that have recently made headlines, says Chris McDermott at Cadwalader.
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Ex-Chicago Politician's Case May Further Curb Fraud Theories
The U.S. Supreme Court recently agreed to hear Thompson v. U.S. to determine whether a statement that is misleading but not false still violates federal law, potentially heralding the court’s largest check yet on prosecutors’ expansive fraud theories, with significant implications for sentencing, say attorneys at the Law Offices of Alan Ellis.
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Lawyers With Disabilities Are Seeking Equity, Not Pity
Attorneys living with disabilities face extra challenges — including the need for special accommodations, the fear of stigmatization and the risk of being tokenized — but if given equitable opportunities, they can still rise to the top of their field, says Kate Reder Sheikh, a former attorney and legal recruiter at Major Lindsey & Africa.
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Crypto.com's Suit Against SEC Could Hold Major Implications
Crypto.com's recent lawsuit against the U.S. Securities and Exchange Commission could affect the operation and regulation of crypto markets in the U.S., potentially raising more questions about the SEC's authority to regulate the industry when it's unclear whether another agency is ready to assume it, say attorneys at McGuireWoods.
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Lessons For Municipalities Facing Cyberattacks
With municipal IT teams facing the daunting task of keeping agencies operational while safeguarding sensitive government data, including residents' and employees' personally identifiable information, there are steps a municipality can take to guard against a major cyberattack, say attorneys at Pillsbury.
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How DOJ's Visa Debit Monopolization Suit May Unfold
The U.S. Department of Justice's recently filed Section 2 monopolization suit against Visa offers several scenarios for a vigorous case and is likely to reveal some of the challenges faced by antitrust plaintiffs following the U.S. Supreme Court's split 2018 American Express decision, say attorneys at Mintz.
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8 Phrases Employers May Hear This Election Season
From sentiments about the First Amendment to questions about political paraphernalia, attorneys at Venable discuss several scenarios related to politics and voting that may arise in the workplace as election season comes to a head, and share guidance for handling each.