Try our Advanced Search for more refined results
Corporate
-
July 29, 2024
Ex-Pharma Exec Seeks Leniency After SEC Contempt Plea
A former pharmaceutical executive is hoping to avoid jail after his use of an alias to circumvent a U.S. Securities and Exchange Commission ban on finance work landed him a criminal contempt conviction, while Boston federal prosecutors are seeking up to 10 months in prison.
-
July 26, 2024
Ex-Wells Fargo Director Wins $22M Verdict In ADA Trial
A North Carolina federal jury Friday determined Wells Fargo must pay a former managing director $22.1 million after he accused the bank of failing to reasonably accommodate him for a paralyzed colon and bladder, and subsequently laid him off to avoid dealing with his disability, according to his attorney.
-
July 26, 2024
DOJ Whistleblower Pilot On Deck As Cos. Boost Compliance
Corporations are making their compliance programs more proactive amid an ongoing push from the Biden administration for firms to come forward with information as the U.S. Department of Justice prepares to roll out a pilot program to reward whistleblowers who alert prosecutors to significant corporate misconduct.
-
July 26, 2024
Apple Commits To White House Guidelines For Responsible AI
Apple Inc. has signed onto the Biden administration's voluntary guidelines for "responsible" artificial intelligence innovation, joining the likes of Amazon.com Inc., Google LLC, Microsoft Corp. and a dozen other leading tech companies, the White House announced Friday.
-
July 26, 2024
Abbott Owes $495M In Baby Formula Bellwether Trial
A Missouri jury awarded $95 million in compensatory damages and $400 million in punitive damages Friday over bellwether claims that Abbott Laboratories' baby formula caused a premature baby to suffer a fully disabling condition.
-
July 26, 2024
Off The Bench: NBA Signs Mega Deals, Jerry Jones Settles
In this week's Off The Bench, the NBA signed $77 billion worth of telecast and streaming deals while longtime league broadcaster TNT challenged the decision, Jerry Jones' suit against his alleged daughter settled while jurors were at lunch, and Pennsylvania's high court agreed to hear an appeal relating to Pittsburgh's jock tax, a fee applied to nonresident professional athletes.
-
July 26, 2024
Adobe Exec Called Cancel Fee Trap 'Heroin' For Co., Suit Says
Adobe Inc. is so aware of the power, and financial benefits, of its allegedly hidden early termination fee for its most lucrative subscription plan that one executive described the fee as "a bit like heroin for Adobe," according to a newly unredacted complaint from the U.S. Department of Justice and the Federal Trade Commission.
-
July 26, 2024
NCAA's $2.8B NIL Deal, Revenue-Sharing Plan Sent To Judge
A $2.78 billion deal to settle a massive class action targeting the NCAA's name, image and likeness compensation rules was submitted to a California federal judge for preliminary approval Friday, allowing for revenue sharing with athletes across all sports.
-
July 26, 2024
Franklin Says DOJ, SEC Probing Western Asset Management
Western Asset Management, a global fixed-income manager, is facing parallel investigations from the U.S. Department of Justice and the U.S. Securities and Exchange Commission over some of its past trade allocations, its parent Franklin Resources Inc. said Friday.
-
July 26, 2024
Matterport Stockholder Sues In Del. For Books On Merger
A shareholder of 3D-imaging and digitization venture Matterport Inc. has launched a Delaware Court of Chancery lawsuit seeking company documents, citing concerns that the business was selling itself to global real estate analytics company CoStar Group in part to protect insider equity from pending litigation.
-
July 26, 2024
Real Estate Recap: CrowdStrike, CFIUS, Financial Services
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including the real estate sector's reaction to the CrowdStrike outage, heightened scrutiny of foreign investment in U.S. properties and a view of evolving financial services regulation from the general counsel of the Conference of State Bank Supervisors.
-
July 26, 2024
Employment Authority: Tips For Dealing With Politics At Work
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on why employers should be cautious about handling employees' political differences in the workplace, how the labor movement is shifting its support for Vice President Kamala Harris after President Joe Biden drops out of the election and a look at the Third Circuit's decision over the NCAA and wage claims from college athletes.
-
July 26, 2024
RTX Earmarks $1.2B For Anticipated Deals With DOJ, SEC
RTX Corp., formerly known as Raytheon, said it has set aside more than $1.2 billion for anticipated deferred prosecution agreements and other deals with U.S. regulators stemming from investigations that include allegations of improper payments tied to contracts in the Middle East.
-
July 26, 2024
Shareholder Litigation To Watch: A Midyear Report
A pair of anticipated U.S. Supreme Court arguments, the fate of a new wave of lawsuits against special purpose acquisition companies and the future of shareholder claims of artificial intelligence malfeasance are among the issues that securities practitioners are following as the second half of 2024 unfolds in the courts.
-
July 26, 2024
Biz Groups Call Corp. Transparency Act Unconstitutional
The U.S. government has failed to show how the Corporate Transparency Act meets narrow exceptions to the Fourth Amendment's search warrant requirements, a group of small businesses told a Michigan federal court Friday in contending that the statute is unconstitutional.
-
July 26, 2024
LinkedIn Looks To End 'Fake Clicks' Suit With Very Real $6.6M
LinkedIn has agreed to cough up at least $6.6 million to put an end to a class action from online businesses who say the website deliberately overreported "clicks" on ads to fleece advertisers.
-
July 26, 2024
Chancery Questions $3.5M Atty Fee For Failed Proxy Battle
An activist shareholder that launched a failed proxy contest at First Foundation Inc. struggled to convince a Delaware Chancery Court judge Friday that the settlement it reached with the Texas-based bank was worth a $3.5 million attorney fee.
-
July 26, 2024
FTC Powers Get A Boost In Philly In Noncompete Ban Saga
The Federal Trade Commission's contested regulatory and enforcement powers got a much-needed endorsement when a Pennsylvania federal judge refused to temporarily block a ban on employment noncompete agreements.
-
July 26, 2024
Data Co. Told To Turn Over Contracts In Kochava Case
A D.C. federal judge plans to order TargetSmart to turn over supplier contracts to the Federal Trade Commission in the agency's case against TargetSmart client Kochava on Friday, after TargetSmart's attorney said she was "99% sure that there was no due diligence done by Kochava" regarding the data's provenance.
-
July 26, 2024
Feds Want Mogul To Forfeit $1.5M In NC Bribery Case
Convicted insurance mogul Greg Lindberg should forfeit nearly $1.5 million he allegedly used to bribe North Carolina's insurance regulation chief in exchange for more friendly oversight of his companies, the U.S. government told a North Carolina federal court Friday.
-
July 26, 2024
'Terrible Decisions': Ex-McElroy Deutsch CFO Gets 5 Years
McElroy Deutsch Mulvaney & Carpenter LLP's former chief financial officer was sentenced Friday in a New Jersey state court to five years in prison and ordered to pay restitution for embezzling more than $1.5 million from the firm and failing to pay income tax.
-
July 26, 2024
Boeing Sued In Del. For Docs On Safety, Quality Failures
Two Boeing Co. pension fund stockholders sued in Delaware's Court of Chancery late on Thursday seeking access to company documents on safety and quality issues involving the 737 MAX, 777 and 787 commercial passenger jets, alleging a "slow rolling" of responses by the industry giant.
-
July 26, 2024
Uber Accused Of Illegally Charging Tax On Delivery Fees
Uber illegally collects sales tax on food delivery fees in Florida, a customer claimed in a proposed class action removed to federal court, saying the company cannot charge the tax if customers have the option of picking up the order themselves.
-
July 26, 2024
GC Cheat Sheet: The Hottest Corporate News Of The Week
What a news week! President Joe Biden started it off by announcing he would not seek re-election, but then said he would push for reform of the U.S. Supreme Court in his remaining time. And the Boeing Co. confirmed it has finalized its agreement with federal prosecutors to plead guilty to one count of criminal conspiracy to defraud, related to safety issues and two fatal plane crashes.
-
July 26, 2024
Cadwalader Suing Lloyd's Over Cyberattack Coverage Denial
Cadwalader Wickersham & Taft LLP has filed suit against insurer Lloyd's of London in North Carolina state court, alleging the company has failed to reimburse the law firm for expenses related to a November 2022 data breach.
Expert Analysis
-
Series
After Chevron: Piercing FEMA Authority Is Not Insurmountable
While the Federal Emergency Management Agency's discretionary authority continues to provide significant protection from claims under the Administrative Procedure Act, Loper Bright is a blow to the argument that Congress gave FEMA unfettered discretion to administer its own programs, says Wendy Huff Ellard at Baker Donelson.
-
A Look At State AGs Supermarket Antitrust Enforcement Push
The ongoing antitrust intervention by state attorneys general in the proposed Kroger and Albertsons merger suggests that states are straying from a Federal Trade Commission follow-on strategy in the supermarket space, which involved joining federal investigations or lawsuits and settling for the same divestment remedies, say attorneys at Troutman Pepper.
-
How To Survive Shareholder Activism
In an era where shareholder activism is on the rise, companies must identify weaknesses, clearly communicate strategies, update board composition and engage with shareholders consistently in order to avoid disruptive shareholder activism and safeguard the interests of both the company and its shareholders, say J.T. Ho at Orrick and Greg Taxin at Spotlight Advisors.
-
'Outsourcing' Ruling, 5 Years On: A Warning, Not A Watershed
A New York federal court’s 2019 ruling in U.S. v. Connolly, holding that the government improperly outsourced an investigation to Deutsche Bank, has not undercut corporate cooperation incentives as feared — but companies should not completely ignore the lessons of the case, say Temidayo Aganga-Williams and Anna Nabutovsky at Selendy Gay.
-
Series
Serving In The National Guard Makes Me A Better Lawyer
My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.
-
Big Business May Come To Rue The Post-Administrative State
Many have framed the U.S. Supreme Court’s recent decisions overturning Chevron deference and extending the window to challenge regulations as big wins for big business, but sand in the gears of agency rulemaking may be a double-edged sword, creating prolonged uncertainty that impedes businesses’ ability to plan for the future, says Todd Baker at Columbia University.
-
Series
After Chevron: A Sea Change For Maritime Sector
The shipping industry has often looked to the courts for key agency decisions affecting maritime interests, but after the U.S. Supreme Court's Loper Bright ruling, stakeholders may revisit important industry questions and coordinate to bring appropriate challenges and shape rulemaking, say attorneys at Holland & Knight.
-
Opinion
Proposed Terminal Disclaimers Rule Harms Colleges, Startups
Universities and startups are ill-suited to follow the U.S. Patent and Trademark Office’s recently proposed rule on terminal disclaimers due to their necessity of filing patent applications early prior to contacting outside entities for funds and resources, say attorneys at Sterne Kessler.
-
Series
After Chevron: Impact On CFPB May Be Limited
The U.S. Supreme Court's decision in Loper Bright Enterprises v. Raimondo is likely to have a limited impact on the Consumer Financial Protection Bureau's regulatory activities, and for those who value due process, consistency and predictability in consumer financial services regulation, this may be a good thing, says John Coleman at Orrick.
-
A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates
Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.
-
Series
After Chevron: 7 FERC Takeaways From Loper Bright
Following the U.S. Supreme Court's overturning of the Chevron doctrine, it's likely that the majority of the Federal Energy Regulatory Commission's orders will not be affected, but the commission has nonetheless lost an important fallback argument and will have to approach rulemaking more cautiously, says Norman Bay at Willkie Farr.
-
Series
After Chevron: USDA Rules May Be Up In The Air
The Supreme Court's end of Chevron deference may cause more lawsuits against U.S. Department of Agriculture regulations, like the one redefining "unfair trade practices" under the Packers and Stockyards Act, or a new policy classifying salmonella as an adulterant in certain poultry products, says Bob Hibbert at Wiley.
-
Series
In The CFPB Playbook: Making Good On Bold Promises
The U.S. Supreme Court's decision upholding the Consumer Financial Protection Bureau's funding structure in the second quarter cleared the way for the bureau to resume a number of high-priority initiatives, and it appears poised to charge ahead in working toward its aggressive preelection agenda, say Andrew Arculin and Paula Vigo Marqués at Blank Rome.
-
Series
After Chevron: Creating New Hurdles For ESG Rulemaking
The U.S. Supreme Court's Loper Bright decision, limiting court deference to agencies' statutory interpretations, could have significant impacts on the future of ESG regulation, creating new hurdles for agency rulemaking around these emerging issues, and calling into question current administrative actions, says Leah Malone at Simpson Thacher.
-
Opinion
States Should Loosen Law Firm Ownership Restrictions
Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.