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Corporate
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November 14, 2024
ADM Compliance Head To Depart Amid Co. Accounting Woes
Archer-Daniels-Midland's head of compliance will leave the food and animal nutrition company, a spokesperson has confirmed, in a year that has seen the company grappling with regulatory probes into its accounting practices and related investor litigation.
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November 14, 2024
Greenberg Traurig Adds Procopio Corporate Ace In San Diego
Greenberg Traurig LLP has added a San Diego corporate partner who previously led the corporate and transactional practice at Procopio Cory Hargreaves & Savitch LLP.
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November 14, 2024
GCs Brace For Rising Costs From Clean Energy Disputes
A new survey of 300 general counsel and top in-house lawyers shows they are already dealing with disputes stemming from the global shift toward clean energy, with many respondents anticipating litigation and arbitration costs will rise in coming years.
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November 21, 2024
Ex-Gibson Dunn Disputes Pro To Move Into In-House Role
Marsh McLennan has hired a dispute resolution partner from Gibson Dunn & Crutcher LLP in London as a general counsel for two of its consulting businesses, the firm said Thursday.
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November 14, 2024
Duo Charged With Hacking Tax Firms In Refund Fraud Scheme
Boston federal prosecutors have unsealed charges against two men who allegedly used information hacked and stolen from Massachusetts tax preparation firms to pocket more than $1.3 million from fraudulent tax returns.
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November 14, 2024
Capri, Tapestry Kill $8.5B Handbag Deal Amid FTC Battle
Capri Holdings Ltd. and Tapestry Inc. have called off their $8.5 billion merger following an extended regulatory battle with the Federal Trade Commission, with the companies mutually agreeing to terminate the deal because it is "unlikely" to obtain the regulatory approvals needed to close on time, Capri said Thursday.
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November 14, 2024
The Onion Buys Alex Jones' Infowars At Ch. 7 Auction
Satirical news website The Onion has purchased Alex Jones' Infowars at a Chapter 7 bankruptcy auction, according to a Thursday announcement by the firm representing Sandy Hook shooting survivors who won a $1.4 billion defamation award over his claims the massacre was a hoax.
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November 14, 2024
Meta Fined €798M For Tying Marketplace Ads To Facebook
The European Union's antitrust watchdog hit Meta Platforms Inc. with a €797.8 million ($841 million) fine Thursday for giving its Facebook Marketplace an unfair advantage over rival online classified ads services by automatically showing postings to its social media users.
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November 13, 2024
Telecom Co. Lumen's Contract Breach Suit Survives, For Now
A Colorado federal judge on Tuesday ruled that an engineering consulting firm is liable to telecommunications company Lumen Technologies for damages caused by a subcontractor's faulty structural analysis, but said she couldn't yet rule on whether Florida law and a two-year statute of limitation barred Lumen's claims against the firm.
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November 13, 2024
Guardant Atty Accuses Natera CEO Of Dishonesty At Trial
A Guardant Health lawyer on Wednesday accused Natera's CEO of being disingenuous when he testified at trial that a Natera ad campaign was aimed at correcting misleading information Guardant promoted about its competing colorectal cancer tests, exclaiming, "It was about money, wasn't it? Can't you just be honest about that?"
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November 13, 2024
Nvidia, Microsoft Rip Antitrust Suit And Its 'Imaginary' Cartel
Nvidia and Microsoft have urged a Texas federal judge to toss a startup's suit alleging that they engaged in an anticompetitive conspiracy to fix prices for graphic processing units used in powering artificial intelligence, with Nvidia saying the startup's "low patent quality" is just as likely to have caused purported injuries.
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November 13, 2024
Chinese Hackers Stole Call Data From Telecom Cos., Feds Say
The FBI and the Cybersecurity and Infrastructure Security Agency announced Wednesday that they have identified individuals associated with the Chinese government who have hacked into the networks of multiple telecommunications companies in search of private communications of people involved in government and political activity.
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November 13, 2024
Tempur Sealy Has 'Keys' To Merger, Mattress Firm CEO Says
Mattress Firm's CEO told a Houston judge Wednesday that he has not had any involvement in Tempur Sealy's post-acquisition agreements with mattress suppliers, testifying that Tempur's board chairman and CEO is the one "driving" the deal.
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November 13, 2024
Axiom Launches Services To Tackle Corporate Litigation
Alternative legal service provider Axiom announced Tuesday it is launching two new litigation services for large-scale businesses and smaller operations offering lower-cost options for dealing with contract issues, unpaid invoices and other routine business disputes.
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November 13, 2024
Ex-Oil Products Co. VP Admits To Stealing Trade Secrets
A former executive at a New Jersey-based producer of oil products and proprietary flavors admitted possessing and conspiring to possess stolen trade secrets, the U.S. attorney for New Jersey announced Wednesday.
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November 13, 2024
A 3M PFAS Win Could Be Hollow, Mich. Justice Suggests
Michigan Supreme Court justices asked Wednesday what it would mean to invalidate the state's regulations on so-called forever chemicals in drinking water, with one justice commenting that winning the case might be of little consequence for 3M, the company that brought the challenge, while undoing protections for the water supply.
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November 13, 2024
Split 9th Circ. Won't Ax Injunction In 'Open AI' TM Fight
A man accused by OpenAI of preventing the ChatGPT maker from registering its name as a trademark lost his Ninth Circuit challenge to an injunction blocking him from using the "Open AI" mark while his case is pending.
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November 13, 2024
TikTok Asks To Keep NC AG's Addiction Complaint Redacted
TikTok Inc. is asking a North Carolina state court to keep redacted portions of a complaint by the state alleging that it targets youth to make them compulsive and addicted users, saying parts of the complaint include information from confidential documents and trade secrets.
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November 13, 2024
'Gist' Of Trump Media Story Was True, News Outlets Say
Several news outlets sued by Donald Trump's social media website in a $1.5 billion defamation lawsuit over stories that the company lost $73 million told a Florida state court that it should toss the complaint, arguing Wednesday that the "gist" of the reporting was still true even if the actual loss wasn't correct.
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November 13, 2024
Copyright Chief: Fair Use A Tough Issue In Upcoming AI Report
An upcoming report from the U.S. Copyright Office addressing questions of infringement and training artificial intelligence models with copyrighted material will address fair use, Shira Perlmutter, the office's director, told a U.S. Senate oversight panel Wednesday.
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November 13, 2024
Trump Is Poised, Once Again, To Jolt US Trade Policy
Donald Trump's first stint in the White House saw steep tariffs against China and other trade partners, and with the Biden administration having largely maintained and even expanded those levies, the president-elect is well-positioned to further pull those levers.
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November 13, 2024
FTX Prosecutors Tout Tech Chief's 'Outstanding Cooperation'
Manhattan federal prosecutors urged a lenient sentence for former FTX technology chief Zixiao "Gary" Wang, telling the court on Wednesday that his "outstanding cooperation" was instrumental in securing the lightning-fast indictment and ultimate conviction of founder Sam Bankman-Fried for an $11 billion fraud that sank the crypto exchange.
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November 13, 2024
Gaming Co. Sued In Chancery To Block Controller Moves
A large stockholder in Allied Gaming & Entertainment Inc. sued the company's board, controlling stockholder and others in Delaware's Court of Chancery on Tuesday, alleging moves by the controller to dilute the shares of outside stockholders ahead of a proxy contest.
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November 13, 2024
Madigan's Atty Seeks To Discredit Key Government Witness
The cross-examination of a former ComEd executive who wore a wire for the government as it built its corruption case against ex-Illinois House Speaker Michael Madigan veered Wednesday into the informant's messy divorce proceedings and his failure to disclose felony charges when trying to buy a gun to kill snakes, as Madigan's attorneys tried to call his credibility into question.
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November 13, 2024
Justices Puzzled By Nvidia's Position In Investor Case
Some U.S. Supreme Court justices on Wednesday seemed to regret the decision to hear a dispute between chipmaker Nvidia Corp. and its investors, wondering whether a disagreement over what the company knew about its sales to crypto miners has any bearing on other securities class action lawsuits.
Expert Analysis
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Del. Dispatch: Cautionary Tales Of 2 Earnout Effort Breaches
The Delaware Court of Chancery's tendency to interpret earnout provisions precisely as written, highlighted in two September rulings that found buyers breached their shareholder obligations when they failed to make reasonable efforts to hit certain product development milestones, demonstrates the paramount importance of precisely wording these agreements, say attorneys at Fried Frank.
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Series
A Day In The In-House Life: Best Egg CLO Talks Power Of Prep
On a typical Monday in her life, Best Egg Chief Legal Officer Amy Thoreson Long chronicles a remote workday in which she makes time for everything from getting ahead on regulatory issues and researching recent Supreme Court decisions to dog walks and podcast breaks.
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The Trade And Tax Issues Behind US-Canada Digital Tax Clash
The new Canadian digital services tax recently went into effect despite objections from the U.S., a controversy that represents an unusual mix of trade and tax policy, and many companies have been pondering how it will affect their e-commerce businesses, says Damon Pike at BDO.
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Secret Service Failures Offer Lessons For Private Sector GCs
The Secret Service’s problematic response to two assassination attempts against former President Donald Trump this summer provides a crash course for general counsel on how not to handle crisis communications, says Keith Nahigian at Nahigian Strategies.
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Opinion
Bill Is Key To Protecting US Economy From Patent Piracy
It is critical that Congress pass a recently introduced bill that would protect U.S. investors from intellectual property theft by restoring court-ordered injunctions as the default remedy in patent infringement cases to ensure inventors get the justice they deserve, says Andrei Iancu at Sullivan & Cromwell.
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Series
Colorado Banking Brief: All The Notable Legal Updates In Q3
In the third quarter of 2024, Colorado's banking and financial services sector faced both regulatory updates and changes to state law due to recent federal court decisions — with consequences for local governments, mortgage lenders, state-chartered trust companies and federally chartered lenders serving Colorado consumers, says Sarah Auchterlonie at Brownstein Hyatt.
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Takeaways From TOTSA Settlement And Critical CFTC Dissent
The U.S. Commodity Futures Trading Commission's recent settlement with TOTSA highlights the agency's commitment to enforcing market integrity and deterring manipulative practices, while Commissioner Caroline Pham's dissent to the settlement spotlights the need for transparency and consistency in enforcement actions, say attorneys at Davis Wright.
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Building US-Japan Relationships In The M&A Market
The prospect of U.S.-Japanese mergers and acquisitions presents stronger competition to U.S. investors in the global M&A markets, while also opening up an additional exit route for sellers looking to offload strategic assets, says Nick Wall at A&O Shearman.
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Litigation Inspiration: Honoring Your Learned Profession
About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.
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From Concept To Capital: 5 Stages Of Evolving IP Needs
Companies must understand the shifting intellectual property needs throughout an organization’s life cycle in order to protect innovation, which can be done by fortifying the IP portfolio, expanding and leveraging IP assets, and more, says Keegan Caldwell at Caldwell Law.
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Series
In The CFPB Playbook: No Lazy, Hazy Days Of Summer
The Consumer Financial Protection Bureau is headed for a brisk fall season, on the heels of a heated summer, which included the U.S. Supreme Court's ruling that the CFPB funding structure is constitutional, and in advance of the November election, says Eamonn Moran at Holland & Knight.
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FTC Focus: How Scrutiny Of PBMs And Insulin May Play Out
Should Express Scripts' recent judicial challenge to the Federal Trade Commission succeed, any new targets could add litigation and choice of forum to their playbooks, and potential FTC court action on insulin could be forced to parallel venues as the issues between the commission and PBMs evolve, say attorneys at Proskauer.
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Opinion
AI May Limit Key Learning Opportunities For Young Attorneys
The thing that’s so powerful about artificial intelligence is also what’s most scary about it — its ability to detect patterns may curtail young attorneys’ chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.
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A Class Action Trend Tests Limit Of Courts' Equity Powers
A troubling trend has developed in federal class action litigation as some counsel and judges attempt to push injunctive relief classes under Rule 23(b)(2) of the Federal Rules of Civil Procedure beyond the traditional limits of federal courts' equitable powers, say attorneys at Jones Day.
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Antitrust Issues To Watch Amid Google Ad Tech Trial
Regardless of the outcome of the U.S. Department of Justice's advertising technology antitrust suit against Google in Virginia federal court, matters ranging from market definition to unified pricing will likely have far-reaching implications for the digital advertising industry, competition and innovation, say attorneys at Holland & Knight.