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Corporate
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July 23, 2024
Funds Say Boeing Can't Ditch 737 Max Securities Suit
Pension funds leading a proposed securities fraud suit against Boeing have fired back at the airline manufacturer's attempt to dismiss allegations that it misled investors about the safety of its 737 Max jets, saying the suit sufficiently showcases how missteps by Boeing's top brass diminished shareholder value.
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July 23, 2024
SEC Names New Acting Head Of Exams
The U.S. Securities and Exchange Commission has announced that the deputy director of its examinations division will serve as the unit's new acting director, as the previous director takes a leave of absence to focus on his health.
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July 23, 2024
Biz Groups Form Lobby Effort To Fight FCC Bulk Billing Rules
Bulk billing agreements are often a boon for people living in apartment buildings and condos, according to a new coalition made up of multifamily housing organizations and a cable trade group, which was formed to push the Federal Communications Commission to reconsider banning such arrangements.
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July 23, 2024
Capital One Card Holders Sue To Block Discover Merger
Capital One credit card holders launched a proposed class action seeking to block the company's $35 billion purchase of Discover Monday, claiming the acquisition will drive down competition and further consolidate the already-concentrated credit card market.
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July 23, 2024
No Victims, No Fraud, Trump Says In $465M Judgment Appeal
Donald Trump has appealed the $465 million judgment against him, arguing that the New York attorney general exceeded her authority in her civil fraud suit against the former president because the statute in question does not apply to victimless transactions.
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July 23, 2024
Texas Judge Says SpaceX Will Likely Win NLRB Challenge
A Texas federal judge explained Tuesday why he blocked a case against SpaceX from proceeding before the National Labor Relations Board, saying he thinks the company is likely to win its constitutional challenge to the agency's structure.
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July 23, 2024
Senate Dems Roll Out Bill To Codify Chevron Deference
Sen. Elizabeth Warren, D-Mass., led a group of Democratic senators Tuesday in introducing a bill to codify the now-defunct doctrine of Chevron deference after it was struck down by the U.S. Supreme Court last month.
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July 23, 2024
Chamber Rips Multibillion-Dollar Atty Fee Bid In Musk Pay Suit
The nation's largest business organization has urged Delaware's Court of Chancery to adopt sweeping curbs to jumbo plaintiff attorney fee awards, declaring a multibillion-dollar fee bid following the cancellation of Tesla CEO Elon Musk's stock-based pay plan "shocks the conscience."
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July 23, 2024
Mintz Expands In SF With Corporate Ace From Calif. Boutique
A former managing partner of boutique Matterhorn Legal LLP has jumped to Mintz Levin Cohn Ferris Glovsky and Popeo PC's corporate practice in San Francisco.
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July 23, 2024
'Surface Water' Stumps Mass. Justices In Loss For Insurers
The top court in Massachusetts on Tuesday ruled in favor of a hospital seeking insurance coverage stemming from a severe rainstorm, saying it's unclear if water that pooled on the hospital's roof should be considered "surface water" that would trigger policy limits on flood damage.
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July 23, 2024
Whole Foods Settles With Ex-Worker In BLM Mask Dispute
Whole Foods Market has reached a tentative settlement with a former employee at its Cambridge, Massachusetts, store who says she was fired in 2020 in retaliation for wearing a Black Lives Matter mask, a month before the case was set to go to trial.
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July 23, 2024
Chase, McKinsey Get FTC Inquiry Over 'Surveillance Pricing'
The Federal Trade Commission has issued orders to eight companies — including Mastercard, Chase, Accenture and McKinsey & Co. — seeking more information about the potential impact their practices of "surveillance pricing" products and services have on privacy, competition and consumer protection, the FTC said Tuesday.
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July 22, 2024
Elon Musk's X Corp. Accused Of TM Infringement, Again
Public relations firm Multiply on Monday accused Elon Musk's social media platform of ripping off its stylized "X" logo to create a substantially similar design, despite knowing Multiply already has a registered trademark, according to an infringement lawsuit in California federal court.
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July 22, 2024
Chicago Firm Seeks $2M For Ex-Atty's Alleged Client Poaching
Chicago firm Loftus & Eisenberg Ltd. has filed suit in Illinois state court accusing a former attorney's new firm of helping the lawyer poach clients by encouraging them to leave with him, even though the new firm couldn't support his practice.
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July 22, 2024
Verizon's TracFone Hit With $16M FCC Data Breach Penalty
Verizon's prepaid service subsidiary TracFone Wireless has agreed to shell out a $16 million civil penalty to resolve Federal Communications Commission probes into whether it failed to protect customer information during three data breaches, the agency announced Monday.
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July 22, 2024
USPTO Wins Dismissal Of Danish Co.'s PTSD Drug Lawsuit
A Virginia federal judge has ruled that the U.S. Patent and Trademark Office appropriately rejected drugmaker Lundbeck's request for three additional months of patent exclusivity for a PTSD drug, saying the agency could dock those days due to the impermissible gray shading of some text in the company's patent application.
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July 22, 2024
VidStream Can't Block X Features That Allegedly Infringe IP
VidStream can't block X Corp. from deploying features that allegedly infringe its patent over a system for receiving and distributing user-generated video, a Texas federal judge said Monday, finding that VidStream is unable to show the alleged infringement can't be remedied through monetary damages and therefore fails to show it will be irreparably harmed.
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July 22, 2024
State Street Sets Aside $4.2M To Address Wage Discrimination
Federal financial services provider State Street agreed to set aside $4.2 million to make wage adjustments in the future as part of a settlement to resolve allegations that it discriminated against some women managing directors with its base pay and bonuses, the U.S. Department of Labor announced Monday.
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July 22, 2024
Gazprom Unit Illegally Seized Helium Containers, Linde Says
Linde Inc. sued RusChemAlliance and Gazprom in New York federal court Friday alleging they illegally seized helium containers in Russia as collateral in an unrelated contractual fight they have with nonparty engineering firm Linde GmbH over gas plant projects shuttered amid expanded sanctions against Russia following its invasion of Ukraine.
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July 22, 2024
Plantronics Investors Ink $29.5M 'Channel Stuffing' Sales Deal
Plantronics investors have asked a California federal judge to greenlight a $29.5 million settlement resolving their claims the company used unsustainable "channel stuffing" sales practices to deceptively boost revenues, which led to a drop in stock price when the tactic failed and was revealed to investors.
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July 22, 2024
Wells Fargo Flouted Director's Dignity, Jury Told In ADA Trial
Wells Fargo chose to lay off a longtime managing director to avoid dealing with his request to continue working from home to cope with his bladder and colon condition as the bank readied for a return to office after the pandemic, a federal jury in Charlotte heard Monday.
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July 22, 2024
Tesla's Autopilot Caused Calif. Man's Fatal Crash, Family Says
The family of a Fresno, California, man who died following a car crash last year says Tesla Inc.'s Autopilot system is to blame, according to a wrongful death suit filed in Santa Clara County Superior Court.
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July 22, 2024
Michigan's Cases To Watch 2024: A Midyear Report
Michigan's highest court is preparing to take on cases that could restore imperiled PFAS regulations, prevent employers from cutting short employees' window to file civil rights claims and expand the reach of Michigan's consumer protection law. Here are some of Michigan's most important cases to watch for the rest of the year.
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July 22, 2024
Uber, Investors Ink $200M Deal To End 'Train Wreck' IPO Suit
Uber Technologies Inc. has agreed to pay $200 million to exit a class action accusing it of failing to inform investors about significant business risks tied to stalling growth and potential legal issues ahead of its $8.1 billion initial public offering in 2019.
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July 22, 2024
IDT, Founder Say Straight Path Suit Fizzle Warrants No Fee
Pointing to a Chancery Court finding of no damages after seven years of class litigation over a nearly $1.2 billion alleged liability, attorneys for IDT Corp. founder Howard Jonas on Monday urged a Delaware vice chancellor to reject a class attorney bid for a $9.5 million fee award.
Expert Analysis
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Opinion
Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Roundup
After Chevron
In the month since the U.S. Supreme Court overturned the Chevron deference standard, this Expert Analysis series has featured attorneys discussing the potential impact across 26 different rulemaking and litigation areas.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q2
The second quarter of 2024 in California, which saw efforts to expand consumer protection legislation and enforcement actions in areas of federal focus like medical debt and student loans, demonstrated that the state's role as a trendsetter in consumer financial protection will continue for the foreseeable future, say attorneys at Sheppard Mullin.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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How Generative AI May Aid Merger Clearance Process
Generative artificial intelligence capable of analyzing and searching large datasets stands to revolutionize the merger clearance process, including by significantly reducing the time and effort required to respond to Hart-Scott-Rodino second requests, say Kenneth Koch and Brian Blush at BDO USA.
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Antitrust In Retail: The Meaning Of 'Accessible Luxury'
In order for the Federal Trade Commission to block a deal that would put six "accessible luxury" brands, including Coach and Michael Kors, under one roof, the agency will need to prove that this category is distinct from the true luxury or mass-market categories, says David Kully at Holland & Knight.
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What Passage Of House Crypto Bill Could Mean For Industry
While the prospects of the Financial Innovation and Technology for the 21st Century Act, which recently passed the House in a bipartisan fashion, becoming law remain murky, the manner of its passage may give crypto markets a real cause for hope, say Neel Maitra and Dale Beggs at Dechert.
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What 2 Rulings On Standing Mean For DEI Litigation
Recent federal court decisions in the Fearless Fund and Hello Alice cases shed new light on the ongoing wave of challenges to diversity, equity and inclusion initiatives, with opposite conclusions on whether the plaintiffs had standing to sue, say attorneys at Moore & Van Allen.
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Series
NY Banking Brief: All The Notable Legal Updates In Q2
The second quarter of 2024 saw less enforcement activity in the realm of New York financial services, but brought substantial regulatory and legislative developments, including state regulators' guidance on cybersecurity compliance and customer service processes for virtual currency entities, say James Vivenzio and Andrew Lucas at Perkins Coie.
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FTC Focus: Competition And The Right To Repair
If the Federal Trade Commission includes commercial and industrial products as part of copyright exemptions that allow consumers to modify or repair products, then businesses and affected rights holders will need to consider copyrights' impact on infringement issues, say attorneys at Proskauer.
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Series
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Advisers Can Avoid Gaps In SEC Marketing Rule Compliance
A recent risk alert from the U.S. Securities and Exchange Commission and the enforcement history of the marketing rule indicate that advisers have encountered persistent difficulties in achieving compliance — but there are steps advisers can take to mitigate risks of violations, say Scott Moss and Jimmy Kang at Lowenstein Sandler.
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Class Actions At The Circuit Courts: June Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers two recent decisions from the Third and Tenth Circuits, and identifies practice tips around class action settlements and standing in securities litigation.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.