Corporate

  • July 09, 2024

    Chancery OKs $100K Incentive Fee In $18.8M Class Settlement

    An $18.8 million settlement ended Tuesday a Delaware Court of Chancery derivative suit alleging a $220 million breach of fiduciary duty by Guggenheim Funds Investment Advisors LLC and trustees of a closed-end fund client, with the court also approving a rare $100,000 plaintiff incentive fee.

  • July 09, 2024

    Top DOJ Litigator Says Competition Issues Are 'Everywhere'

    The senior official leading the U.S. Department of Justice's antitrust litigation efforts said Tuesday she sees a "competition problem" in nearly every American industry, as she discussed the growth in federal antitrust enforcement at an event in Denver.

  • July 09, 2024

    Fla. Judge Won't Nix Antitrust Claims Against Alcon

    The Florida federal judge presiding over the multidistrict litigation alleging disposable contact lens sellers conspired to fix prices refused Tuesday to let Alcon escape antitrust claims by an online contact lens reseller and sent the suit back to New York.

  • July 09, 2024

    Amazon Gets 'Buy Box' Rigging Case Tossed, For Now

    A Washington federal court has dismissed a proposed class action accusing Amazon of using its "Buy Box" feature to deceive consumers after finding that the two men bringing the claims failed to include any details about the transactions they made and allegedly overpaid for.

  • July 09, 2024

    NY Judge In Trump Case OKs Narrow Subpoena For Atty

    An attorney who told reporters he held an impromptu hallway conversation with a New York state judge in the lead-up to February's $464.6 million civil fraud judgment against Donald Trump must turn over any communications he had with the court regarding the underlying action, according to a Tuesday ruling.

  • July 09, 2024

    FTC Is Denied Amazon's Instructions On Signal Use, For Now

    A Washington federal judge refused Tuesday to give the Federal Trade Commission a peek into what it contends is the extensive use of Signal by Jeff Bezos and other top Amazon.com executives to hide communications relevant to a monopolization lawsuit, preferring to order deposition testimony on that use first.

  • July 09, 2024

    5th Circ. Presses SEC On Whistleblower Award Calculation

    The Fifth Circuit heard oral arguments Tuesday in a case accusing the U.S. Securities and Exchange Commission of shortchanging two whistleblowers who uncovered the largest fraud in Texas history, with one judge pressing the agency's attorney over how much money it was able to collect after the fraudster declared bankruptcy.

  • July 09, 2024

    Purdue Plans 'High-Speed' Bid For New Ch. 11 Plan

    Purdue Pharma told a New York bankruptcy judge Tuesday that it plans a two-month "high-speed, high-stakes" attempt to replace the Chapter 11 plan shot down by the U.S. Supreme Court last month before unleashing litigation on its former owning family.

  • July 09, 2024

    Chancery Gives X Corp. One Week To Redact Twitter Docs

    X Corp. has a little over a week to prepare public versions of sealed court documents from Twitter Inc.'s 2022 battle with Elon Musk over his $44 billion acquisition bid, after a legal research website challenged the ongoing confidential treatment of the Delaware Chancery Court filings.

  • July 09, 2024

    Bigelow's 'Manufactured In USA' Label Not Judge's Cup Of Tea

    A California federal judge held Monday that Bigelow's labels on tea products stating "Manufactured in the USA" are literally false, handing a partial victory to a certified class of tea buyers, leaving only the issues of damages and Bigelow's state of mind when making the statement to a jury. 

  • July 09, 2024

    Yellen Says Customer Due Diligence Proposal Planned For Fall

    Treasury Secretary Janet Yellen told members of Congress Tuesday that her department is aiming to release a proposal this fall to revise the Financial Crimes Enforcement Network's customer due diligence rule, while facing criticism over "duplicative" reporting regimes.

  • July 09, 2024

    Fight Over Golf-Aid Sales Puts Amazon In RICO Hot Seat

    A pair of golf marketing companies conspired with Amazon to cash in on the sale of popular equipment endorsed by top-ranked golfer Scottie Scheffler after tricking the manufacturer into selling it to them wholesale, the equipment-maker claimed in a fraud and RICO suit filed in California federal court on Tuesday.

  • July 09, 2024

    Feds Seek 37 Mos. For Tippee In JPMorgan Insider Case

    California federal prosecutors are seeking a three-year prison sentence for a Los Angeles man who was found guilty of trading on privileged information supplied by a childhood friend who was an analyst at JPMorgan Securities LLC, saying that his repeated lies under oath suggest he does not fully understand the consequences of his actions.

  • July 09, 2024

    House Dems Seek Info From DOI Over Alleged Shale Cartel

    House Democrats sitting on the House Natural Resources Committee penned a letter Tuesday seeking information from the U.S. Department of the Interior concerning eight oil companies accused of colluding with the Organization of Petroleum Exporting Companies to artificially inflate gas prices.

  • July 09, 2024

    Ackman's Pershing Square USA Kicks Off IPO Roadshow

    Pershing Square USA Ltd., a closed-end fund backed by hedge-fund giant Bill Ackman, on Tuesday said it has launched a marketing roadshow for an initial public offering that could enable retail investors to own part of one of the U.S.'s largest listed funds.

  • July 09, 2024

    $2.4 Million Crate & Barrel BIPA Deal Gets Final OK

    A Cook County judge on Tuesday gave his final signoff to a $2.4 million deal ending litigation accusing Crate & Barrel of violating Illinois' biometric privacy law by requiring employees at its stores to scan their fingerprints to track their time worked without first securing their written, informed permission.

  • July 09, 2024

    Alston & Bird Brings In Sidley Trio To Launch New Offices

    Alston & Bird LLP announced on Tuesday that it has opened two new offices in Chicago and Century City with the addition of three lateral partners from Sidley Austin LLP, a move the firm said will strengthen its corporate, healthcare and real estate practices.

  • July 09, 2024

    Ex-NLRB Atty Rejoins Ogletree After In-House Stint

    After a busy month of expansion, management-side labor and employment firm Ogletree Deakins Nash Smoak & Stewart PC announced Monday that it is welcoming a shareholder back to the firm following his in-house stint with wholesale grocery distributor UNFI.

  • July 09, 2024

    Ex-NRA Finance Chief Agrees To 10-Year NY Nonprofit Ban

    A former chief financial officer of the National Rifle Association has agreed not to serve as a fiduciary of a New York nonprofit for 10 years as part of a settlement in the state attorney general's suit in state court alleging he and other executives misused donor money, according to deal terms disclosed Tuesday.

  • July 09, 2024

    5 Firms Steer $513M Ryan-Altus Cross-Border Tax Deal

    Dallas-based tax services and software provider Ryan said Tuesday it has inked a deal to acquire the property tax business of Altus Group Ltd. for CA$700 million ($513.4 million), enlisting three firms to assist on a deal that will expand its footprint in Canada, the U.S. and the U.K.

  • July 09, 2024

    Akin Adds DOJ Atty As White Collar Defense Partner In DC

    An experienced U.S. Department of Justice attorney who most recently served as an assistant chief of the Foreign Corrupt Practices Act unit has returned to private practice at Akin Gump Strauss Hauer & Feld LLP.

  • July 09, 2024

    BP Unit Slams 'Farfetched' $300M Franchise Termination Suit

    The trio of companies that sued a BP subsidiary for terminating their truck stop franchise agreement have no claim to make, the BP unit has told an Ohio federal court, arguing that by their own admission the companies failed to hold up their end of the agreement at issue.

  • July 09, 2024

    Crowell & Moring Adds 'Swiss Army Knife' Atty In Calif.

    Crowell & Moring LLP grew in San Francisco this week, announcing Tuesday that it has added a former state prosecutor and e-commerce in-house counsel who has a reputation as a "Swiss Army knife style of lawyer."

  • July 08, 2024

    Fintech Co. Current Can't Stop Ex-GC's Depo In Bias Case

    Fintech company Current must allow the deposition of its former general counsel in a suit claiming it fostered a discriminatory work culture, a New York federal magistrate judge has ruled though the judge limited the deposition to focus on discrimination the general counsel may have personally experienced or witnessed.

  • July 08, 2024

    What's In Boeing's Tentative 737 Max Plea Deal With DOJ

    Boeing's willingness to plead guilty to conspiring to defraud U.S. regulators over the 737 Max 8's development is a rare mea culpa from an embattled American aerospace titan eager to rebuild public trust after six years of overlapping government investigations, production pauses and mounting litigation.

Expert Analysis

  • Advisers Can Avoid Gaps In SEC Marketing Rule Compliance

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    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.

  • Class Actions At The Circuit Courts: June Lessons

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    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.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

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    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.

  • Del. Bankruptcy Ruling Will Give D&O Insureds Nightmares

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    In Henrich v. XL Specialty Insurance, the Delaware Bankruptcy Court recently found that a never-served qui tam claim had been "brought" before a D&O policy's retroactive date, thereby eliminating coverage, and creating a nightmare scenario for directors and officers policyholders facing whistleblower claims, says David Klein at Pillsbury.

  • Opinion

    No Matter The Purdue Ruling, Mass Tort Reform Is Needed

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    The U.S. Supreme Court will soon issue its opinion in the bankruptcy of Purdue Pharma LP, and regardless of the outcome, it’s clear legal and policy reforms are needed to address the next mass tort, says William Organek at Baruch College.

  • Top 5 Issues For Employers To Audit Midyear

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    Six months into 2024, developments from federal courts and regulatory agencies should prompt employers to reflect on their progress regarding artificial intelligence, noncompetes, diversity initiatives, religious accommodation and more, say Allegra Lawrence-Hardy and Lisa Haldar at Lawrence & Bundy.

  • 6 Tips For Maximizing After-Tax Returns In Private M&A Deals

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    With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.

  • After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

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    The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

  • Practical Private Equity Lessons From 2 Delaware Deals

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    A pair of Delaware Chancery Court cases remind private equity sponsors that specificity is crucial through the lens of deal certainty, particularly around closing conditions and agreement sections of acquisition agreements, say Robert Rizzo and Larissa Lucas at Weil Gotshal and William Lafferty at Morris Nichols.

  • Recruitment Trends In Emerging Law Firm Frontiers

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    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • How Uyghur Forced Labor Law Affects Importing Companies

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    Amid a growing focus on forced labor in supply chains and a likely increase in enforcement under the Uyghur Forced Labor Prevention Act, companies may face costly import delays unless they develop and implement compliance best practices, say Thad McBride and Lauren Gammer at Bass Berry.

  • What Companies Should Consider Amid Multistate AG Actions

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    The rise of multistate attorney general actions is characterized by increased collaboration and heightened scrutiny across various industries — including Big Tech and gaming — and though coalitions present challenges for targeted companies, they also offer opportunities for streamlined resolutions and coordinated public relations efforts, say attorneys at Cozen O'Connor.

  • Series

    Glassblowing Makes Me A Better Lawyer

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    I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.

  • Careful Data Governance Is A Must Amid Enforcement Focus

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    Federal and state regulators' heightened focus on privacy enforcement, including the Federal Trade Commission's recent guidance on consumer protection in the car industry, highlight the importance of proactive risk management, compliance and data governance, say Jason Priebe and Danny Riley at Seyfarth.

  • What DOL Fiduciary Rule Means For Private Fund Managers

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    Attorneys at Ropes & Gray discuss how the U.S. Department of Labor's recently released final fiduciary rule, which revises the agency's 1975 regulation, could potentially cause private fund managers' current marketing practices and communications to be considered fiduciary advice, and therefore subject them to strict prohibitions.

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