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Consumer Protection
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August 29, 2024
Nigerian Fintech Ex-CEO Hit With $32M Fine In SEC Fraud Suit
A New York federal judge has levied a nearly $32 million penalty against a Nigerian businessman whom the U.S. Securities and Exchange Commission has accused of fraudulently inflating the value of his food and agriculture technology businesses, while also ordering him and various affiliated businesses to cough up hundreds of millions of dollars in disgorgement and prejudgment interest.
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August 29, 2024
CFPB Fines NewDay $2.25M Over VA Home Loan Practices
The Consumer Financial Protection Bureau levied a $2.25 million fine against NewDay Financial LLC on Thursday for allegedly deceiving active-duty service members and veterans seeking cash-out refinance loans on their home mortgages.
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August 29, 2024
FCC Rolls Out Rules For Drones' Use Of 5 GHz Band
The Federal Communications Commission on Thursday announced it had adopted initial rules for the use of drones in the 5 gigahertz band by allowing operators to obtain frequency assignments.
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August 29, 2024
Comer Tells PBMs To Correct Record On Role In Drug Pricing
Rep. James Comer, R-Ky., chair of the House Oversight and Accountability Committee, is demanding that the heads of three major pharmacy benefit managers "correct the record" on their testimony made before his committee in July about their roles in drug pricing, including company claims that the PBMs don't steer customers to in-house pharmacies and that they allow non-affiliated pharmacies to negotiate contracts.
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August 29, 2024
NLRB Partners With Other Feds In Merger Probes
The National Labor Relations Board said it's teaming up with the U.S. Department of Justice, the U.S. Department of Labor and the Federal Trade Commission to investigate mergers that present competition concerns for workers.
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August 29, 2024
CFPB Notches Default Win Against Ga. Auto Loan Servicer
The Consumer Financial Protection Bureau has scored a default judgment against a Georgia-based auto loan servicer accused of a slew of unlawful business practices, including using kill switches to shut off borrowers' cars and double charging them for insurance premiums.
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August 29, 2024
Trucker Urges Justices To Back Wide RICO Scope In CBD Case
A commercial truck driver who alleges he lost his job after consuming products containing THC is urging the U.S. Supreme Court to affirm a Second Circuit ruling that the civil racketeering statute applies to personal injuries when they upset a person's employment.
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August 29, 2024
Nektar Can't Get Docs It Says Show Lilly As 'Thieves, Liars'
A California federal judge Thursday rejected Nektar Therapeutics' request for internal Eli Lilly documents related to separate litigation as Nektar pursues allegations Eli Lilly ruined prospects for a drug the companies were developing together despite Nektar's counsel saying it would "expose Lilly for being thieves, liars."
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August 29, 2024
GAO Suggests IRS Improve Retirement Account Oversight
The Internal Revenue Service needs to beef up its oversight of conflicts of interest between fiduciaries and individual retirement account investors, according to a U.S. Government Accountability Office report.
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August 29, 2024
DOJ Calls Former Googler's Ad Tech Testimony 'Essential'
The U.S. Department of Justice urged a Virginia federal judge Wednesday not to let former Google vice presidents and other company managers avoid testifying at next month's advertising technology monopolization trial, arguing their testimony is important and was properly subpoenaed.
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August 29, 2024
Counterclaims Cut From $12.1M Home Security Contract Suit
The home-security arm of Pennsylvania-based builder Toll Brothers has persuaded a Connecticut state court to trim some of the counterclaims from its litigation with Security Systems Inc., successfully arguing that the buyer of nearly 10,000 customer accounts hasn't shown that damages exceed the $1.5 million "attrition reserve" the company was already holding on to.
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August 29, 2024
FTC Wants Kroger's Constitution Suit To Follow Merger Case
The Federal Trade Commission is sparring with Kroger over where, and when, to handle the grocery giant's constitutional counterattack to the FTC's merger challenge, with the agency teeing up a bid to move the company's Ohio federal court suit to Oregon, where it's defending the proposed Albertsons purchase.
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August 29, 2024
GM Can't Shake Off Shuddering-Transmission Class
General Motors must face class allegations that it knowingly sold vehicles with defective transmissions that cause the vehicles to shake and shudder while being driven, a Sixth Circuit panel ruled Wednesday, finding no reason to undo class certification for the drivers.
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August 29, 2024
Houston Law Firm Hit With 2nd Data Breach Suit
Houston personal injury firm Fleming Nolen & Jez has been hit with another proposed class action over a February 2023 data breach that exposed clients' personal and health information.
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August 29, 2024
Public Interest Groups Back FCC On School Wi-Fi Funds
A trio of advocacy groups have urged the Federal Communications Commission to reject a petition to throw out its school Wi-Fi funding plan brought by the same litigants who also are suing the FCC in the Fifth Circuit over a similar initiative for school buses.
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August 29, 2024
Data Breach Victims Get Initial Green Light For $1.5M Deal
A proposed class of policyholders, employees and stakeholders has received an initial nod of approval from a federal judge in North Carolina on its $1.5 million settlement with a construction industry insurer over a 2022 data breach.
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August 29, 2024
T-Mobile Seeks Full 4th Circ. Look At Simply Prepaid TM Fight
T-Mobile is asking for an en banc rehearing after a Fourth Circuit panel revived a Virginia-based cellphone company's infringement suit against it, telling the court that Simply Wireless didn't meet the correct standard of "deliberate and continuous" use of its trademarked "Simply Prepaid" branding to bar use of the phrase by other entities.
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August 28, 2024
Calif. Assembly OKs 1st-Of-Its-Kind AI Safety Bill
California lawmakers on Wednesday approved a groundbreaking proposal that would set safety and security standards for large artificial intelligence models.
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August 28, 2024
Orrick, Okla. Atty Deny Violating MOVEit MDL Judge's Orders
Orrick Herrington & Sutcliffe LLP and an Oklahoma attorney have denied violating court orders in multidistrict litigation over a 2023 data breach involving Progress Software's MOVEit file transfer tool, telling a Massachusetts federal court they were allowed to settle similar state litigation against a payroll software provider outside the federal action.
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August 28, 2024
Feds Say Multimillion-Dollar 'Surge' Scheme Bilked Uber Riders
New York federal prosecutors on Wednesday accused two men of leading a yearslong scheme that allowed hundreds of Uber drivers to use illicit apps, including some named Screwber and FakeGPS, to manipulate the rideshare market and gain millions of dollars from riders in fraudulent surge fees.
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August 28, 2024
Raymond James Hit With Suit Over 'Cash Sweep' Programs
Financial services giant Raymond James faces a proposed class action in Florida federal court alleging its so-called cash sweep programs offer interest rates "significantly lower" than those offered by competitors, in violation of federal law.
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August 28, 2024
Mich. Pot Co. Says Court Can Hear Suit Against IP Atty
A Michigan cannabis company can maintain its lawsuit against an attorney and his wife who it claims badmouthed it on social media, a federal judge ruled, after the business showed the court has jurisdiction over the couple.
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August 28, 2024
Capital One Says Merger's Pending Approval Tanks Challenge
Capital One urged a Virginia federal judge to toss or pause a lawsuit challenging the bank's proposed $35 billion acquisition of Discover Financial Services, saying the suit's claims are too speculative and contingent on unknown future events since they depend entirely on the acquisition receiving regulatory and government approval.
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August 28, 2024
NJ Law Firm Sues TD Bank Over Bounced $149K Check
A New Jersey personal injury firm has sued TD Bank, alleging that it lost over $146,000 as a result of its bank's failure to give it timely notice about a bad six-figure cashier's check deposited to the firm's business account.
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August 28, 2024
'Smoking-Gun' Flaw Found In New Ark. Hemp Law, Say Cos.
In a legal fight over a recent Arkansas state law restricting hemp-derived intoxicants, the hemp companies who brought the challenge told a federal judge Wednesday they found "smoking-gun evidence" from regulators showing the 2023 law is unconstitutionally vague.
Expert Analysis
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Supply Chain Considerations For Companies Deploying AI
Many businesses will risk failure by embracing artificial intelligence without fully understanding the risks, and the value of a five-step AI supply chain analysis cannot be overstated, say Brooke Berg and Nathan Staffel at Nardello & Co.
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Using A Children's Book Approach In Firm Marketing Content
From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.
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The State Of Play In DEI And ESG 1 Year After Harvard Ruling
Almost a year after the U.S. Supreme Court decided Students for Fair Admissions v. Harvard, attorney general scrutiny of environmental, social and governance-related efforts indicates a potential path for corporate diversity, equity and inclusion initiatives to be targeted, say attorneys at Crowell & Moring.
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Compliance Considerations For New Data Protection Law
Sam Castic at Hintze Law discusses how to determine if your organization is covered by the newly enacted Protecting Americans' Data from Foreign Adversaries Act, the scope of the law's restrictions, and how to go about compliance as its June 23 effective date approaches.
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FTC Noncompete Rule Risks A Wave Of State AG Actions
The Federal Trade Commission's final rule language banning noncompetes may contribute to a waterfall enforcement effect in which state attorneys general deploy their broad authority to treat noncompetes as separate and independent violations, say Ryan Strasser and Carson Cox at Troutman Pepper.
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CFPB Poised To Up The Ante After Supreme Court Victory
When the U.S. Supreme Court emphatically ruled last week that the Consumer Financial Protection Bureau's funding structure did not violate the Constitution, the agency boasted that it was "here to stay," signaling that it is moving full steam ahead with its regulatory, enforcement and supervisory agenda, says Jim Sandy at McGlinchey Stafford.
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How To Use Exhibits Strategically Throughout Your Case
Exhibits, and documents in particular, are the lifeblood of legal advocacy, so attorneys must understand how to wield them effectively throughout different stages of a case to help build strategy, elevate witness preparation and effectively persuade the fact-finders, say Allison Rocker at Baker McKenzie and Colorado prosecutor Adam Kendall.
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Diving Deep Into Sweeping NY Financing Bill — And Its Pitfalls
A New York bill seeking to impose state usury limits onto a broader variety of financing arrangements and apply lender licensing requirements to more diverse entities would present near-insurmountable compliance challenges for lenders and retailers, say Kate Fisher and Tom Quinn at Hudson Cook.
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Influencer Considerations As FINRA Initiates Crackdown
To avert risks when evaluating influencer and referral programs, firms should assess the Financial Industry Regulatory Authority's recent settlements involving the supervision of social media tastemakers, as well as recent FINRA guidance in this area, say attorneys at Troutman Pepper.
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What The FTC Report On AG Collabs Means For Cos.
The Federal Trade Commission's April report on working with state attorneys general shows collaboration can increase efficiency and consistency in how statutes are interpreted and enforced, which can minimize the likelihood of requests for inconsistent injunctive relief that can create operational problems for businesses, say attorneys at Kelley Drye.
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A Comparison Of FDIC, OCC Proposed Merger Approaches
Max Bonici and Connor Webb at Venable take a closer look at the Federal Deposit Insurance Corp.'s and Office of the Comptroller of the Currency's respective bank merger proposals and highlight certain common themes and important differences, in light of regulators continually rethinking their approaches to bank mergers.
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Series
Being An EMT Makes Me A Better Lawyer
While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.
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Behind Court Challenges To The FTC's Final Noncompete Rule
The Federal Trade Commission's recent final rule banning noncompetes may not go into effect any time soon amid a couple of Texas federal court challenges seeking to bar the rule's implementation, which will likely see appeals all the way to the U.S. Supreme Court, says Michael Elkins at MLE Law.
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15 Quick Tips For Uncovering And Mitigating Juror Biases
As highlighted by the recent jury selection process in the criminal hush money trial against former President Donald Trump, juror bias presents formidable challenges for defendants, and attorneys must employ proactive strategies — both new and old — to blunt its impact, say Monica Delgado and Jonathan Harris at Harris St. Laurent.
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Colo. Lending Law Could Empower State-Chartered Banks
Lending programs that rely on rate exportation by state banks should pay close attention to legislative activity and ongoing litigation surrounding Colorado's decision to opt out of rate exportation, which could set a precedent that state-chartered banks have power on par with national banks, says Tom Witherspoon at Stinson.