Try our Advanced Search for more refined results
Compliance
-
October 31, 2024
Ex-Goldman Exec Says 1MDB Judge Thwarted His Defense
Former Goldman Sachs executive Roger Ng on Thursday told the Second Circuit that his trial defense over the massive $6.5 billion 1MDB scheme was marred by the wrongful exclusion of video evidence that supported his claim that $35 million he received in alleged kickbacks was actually investment proceeds.
-
October 31, 2024
2nd Circ. Draws BDO Back In Investor Suit In Revised Opinion
The Second Circuit on Thursday reversed course in an amended opinion about an investor suit over financial restatements made by AmTrust Financial Services Inc., finding that auditor BDO USA LLP is not off the hook for certifying the insurer's financial statements.
-
October 31, 2024
Ex-Citadel Reps Can't Escape Trade Secrets Suit
A New York federal judge has greenlighted most claims in Citadel Securities' lawsuit accusing a Swiss cryptocurrency trading firm founded by two of its former employees of stealing its trade secrets, while tossing those asserted against the firm's French angel investor for lack of jurisdiction.
-
October 31, 2024
Hinshaw Sees Fintech Pro Rejoin Firm From Ballard Spahr
Hinshaw & Culbertson LLP on Thursday said a former partner has returned to the firm's consumer financial services practice in Los Angeles after two years at Ballard Spahr.
-
October 31, 2024
JPMorgan To Pay $151M To Resolve SEC Disclosure Claims
The U.S. Securities and Exchange Commission announced Thursday that two JPMorgan Chase & Co. affiliates agreed to pay $151 million to resolve five separate enforcement actions over a number of allegations, including making misleading disclosures to investors and failing to make recommendations in the best interest of customers.
-
October 31, 2024
10 Firms Vie To Lead, Consolidate Super Micro Investor Suits
Ten firms have submitted competing bids to lead and consolidate proposed class actions alleging that artificial intelligence server manufacturer Super Micro Computer Inc.'s shares fell roughly 20% after a short seller report accused it of violating its previous settlement with the U.S. Securities and Exchange Commission over accounting improprieties.
-
October 31, 2024
CVS Unit Exec's Ex-Partner Charged With Insider Trading
The former domestic partner of a top executive at Oak Street Health Inc., a primary care provider network owned by CVS Health Corp., was charged in Philadelphia federal court Thursday with insider trading on advance information about CVS' $10.6 billion deal to buy Oak Street in 2023.
-
October 31, 2024
Crypto Lobby Says Members Spent $426M Fighting SEC
The Blockchain Association, a cryptocurrency lobby, said in a report released Thursday that its members reported incurring $426 million in legal costs so far defending actions from the U.S. Securities and Exchange Commission.
-
October 31, 2024
Drug Cos. To Pay $49M For State-Led Generic Pricing Claims
A contingent of state-level enforcers reached settlements totaling $49.1 million on Thursday with Heritage Pharmaceuticals Inc. and Apotex Corp. for their alleged part in a wide-ranging conspiracy to inflate the price of generic drugs.
-
October 31, 2024
EPA Can't Declare La. Deadline Extension Invalid, 5th Circ. Told
A Louisiana neoprene maker on Wednesday told the Fifth Circuit that the U.S. Environmental Protection Agency has no authority to invalidate a two-year compliance deadline extension that the state granted to the company, which is being sued by the EPA.
-
October 31, 2024
Warren Says DOJ's 'Legal Gymnastics' Let TD Bank Off Easy
U.S. Sen. Elizabeth Warren, D-Mass., pressed Attorney General Merrick Garland on Thursday over what she characterized as a lax settlement agreement for TD Bank earlier this month and the Justice Department's "legal gymnastics" that left top bank executives off the hook.
-
October 31, 2024
6th Circ. Wrestles With Reach Of FCC's Net Neutrality Powers
Sixth Circuit judges on Thursday sought to clear up what one described as a "close call" over how much authority Congress gave the Federal Communications Commission to regulate internet traffic when lawmakers overhauled telecommunications law in 1996.
-
October 31, 2024
Masimo Sues Ex-CEO Over 'Unprecedented' $450M Demand
Masimo Corp. has sued its founder in Delaware Chancery Court, seeking a declaration that a $450 million payout triggered in part by the founder's loss of control or his ouster as CEO and chairman is unenforceable, saying the amount is "unprecedented" and shouldn't be paid by shareholders who were simply exercising their voting rights.
-
October 31, 2024
Ex-Conn. Utility Execs Must Report To Prison, Judge Orders
The former CEO of the Connecticut Municipal Electric Energy Cooperative and two ex-board members must report to prison by Dec. 4, a federal judge has ordered, after the Second Circuit upheld their convictions over their roles in the theft of hundreds of thousands of dollars.
-
October 31, 2024
Beverly Hills Agrees To Abortion-Rights Training In Settlement
The city of Beverly Hills will develop training materials and take other steps to comply with California's reproductive health laws, as part of a stipulated judgment resolving the state's allegations that it illegally pressured an abortion clinic to stay out of the city, the parties announced Thursday.
-
October 31, 2024
DOL Blocked From Using In-House Court In Hiring Bias Spat
A Texas federal judge temporarily blocked the U.S. Department of Labor from using its internal judge system to pursue administrative proceedings against a government contractor for allegedly discriminatory hiring practices, citing a recent U.S. Supreme Court decision that placed limitations on these in-house procedures.
-
October 31, 2024
FDA Warns Cos. Over E-Cigs That Look Like Tech Devices
The U.S. Food and Drug Administration has issued warnings to nine online retailers and one manufacturer for selling unauthorized disposable e-cigarettes with features that look like smart technology that may appeal to young people, such as the capacity to play games or play music.
-
October 31, 2024
Valero To Pay 'Historic' $82M Fine For Bay Area Air Pollution
Valero Refining Co. will pay a record $82 million penalty to settle claims that it failed to report cancer-causing emissions from its Northern California petroleum refinery for nearly two decades, state and Bay Area air pollution regulators announced Thursday, saying nearly all of the fine will fund local community projects.
-
October 31, 2024
LA Hits Pepsi, Coca-Cola With Plastic Waste, Deception Suit
Los Angeles County hit PepsiCo Inc. and The Coca-Cola Co. with a California state suit claiming the longtime soft drink rivals are spouting falsehoods about recycling's ability to address their single-use plastic waste and flooding the environment with growing amounts of harmful plastic despite pledges to reduce it.
-
October 31, 2024
Enviros Call On EPA To Address Petcoke Plant Water Pollution
A dozen environmental groups filed a petition Thursday demanding the EPA implement national water pollution standards for petroleum coke processing plants, which they said have slipped through the Clean Water Act's protections.
-
October 31, 2024
What DOJ's New National Security Obsession Means For Attys
The Justice Department’s emerging criminal crackdown on corporate national security violations is putting increased pressure on white collar lawyers to be conversant, if not experts, on opaque, complex and swiftly evolving regulations.
-
October 31, 2024
Exxon Entitled To Interest Deduction On Qatar Deal
Exxon Mobil is entitled to an interest expense deduction on payments to Qatar under a natural gas deal, a Texas federal judge ruled, rejecting the U.S. government's classification of an underlying transaction as a royalty rather than a loan.
-
October 31, 2024
FERC Unlawfully Rewrote Grid Hookup Policy, DC Circ. Told
The Federal Energy Regulatory Commission's revised policy on hooking up new power projects to the grid unlawfully imposes a punitive, one-size-fits-all system on transmission owners, regional grid operators and transmission companies told the D.C. Circuit Wednesday.
-
October 31, 2024
Monthly Merger Review Snapshot
Kroger and Albertsons endured overlapping trials in cases challenging their planned grocery store megamerger, as the Federal Trade Commission got a major fashion industry deal paused and pushed its bid to block the $4 billion merger of Tempur Sealy and Mattress Firm.
-
October 31, 2024
AI Co. Fires CEO As BigLaw Counsel Probe Revenue Issues
Security tech company Evolv Technology, which last week announced it had brought on Debevoise & Plimpton LLP and Cleary Gottlieb Steen & Hamilton LLP as part of an internal investigation into possible revenue inflation, said Wednesday it has ousted its CEO.
Expert Analysis
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.