Corporate

  • September 20, 2024

    Domino's Execs Concealed Store Closure Woes, Investor Says

    Domino's is facing a proposed class action filed Friday in Michigan federal court by an investor who says the pizza chain overhyped plans to launch more than 1,100 stores across the globe over a four-year period while concealing that a major franchisee faced significant hurdles with store openings and closures.

  • September 20, 2024

    Family Dollar Must Face Arkansas AG's Rodent Infestation Suit

    Family Dollar can't escape a lawsuit by the Arkansas attorney general seeking damages for knowingly selling products potentially contaminated by rodents, both dead and alive, at a warehouse in West Memphis, a state judge has ruled.

  • September 20, 2024

    SEC To Seek Sanctions For Musk Deposition 'Gamesmanship'

    The U.S. Securities and Exchange Commission plans to seek sanctions against Elon Musk for not showing up to a scheduled deposition over his $44 billion acquisition of Twitter and instead flying to Florida to oversee a SpaceX launch, telling a California federal judge Friday that his excuse "smacks of gamesmanship."

  • September 20, 2024

    CFPB Pitches Remittance Rule Tweak For Consumer Inquiries

    The Consumer Financial Protection Bureau moved Friday to revise a longstanding remittance disclosure requirement, saying the agency thinks the wording may be causing it to get inundated with thousands of phone calls from consumers asking about their international money transfers.

  • September 20, 2024

    SpaceX, Musk Attack FAA Following Proposed Fines

    SpaceX is lashing out at the Federal Aviation Administration's "inability to keep pace with the commercial spaceflight industry" days after the agency said it planned to slap the company with $633,000 in fines, prompting founder and majority owner Elon Musk to threaten a lawsuit.

  • September 20, 2024

    Calif. Panel Backs VW Drivers' $3.5M Data Breach Deal

    California appellate justices have upheld Volkswagen and Audi drivers' $3.5 million data breach settlement and rejected an objector's request to intervene and vacate judgment, finding that her disagreement with their litigation strategy doesn't mean her interests weren't adequately represented. 

  • September 20, 2024

    Del. Justices Uphold Toss Of AmerisourceBergen Syringe Suit

    Delaware's Supreme Court upheld with little comment Friday a lower court dismissal of a nearly 5-year-old shareholder derivative suit accusing AmerisourceBergen Corp. directors of failing to investigate and stop illegal repackaging of cancer drugs.

  • September 20, 2024

    Employment Authority: DOL's Strategies After Chevron Ruling

    Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on how effective the U.S. Department of Labor's tactics have been after the U.S. Supreme Court nixed the Chevron doctrine, the Federal Trade Commission's challenge to a proposed merger between Kroger and Albertsons highlights the overlap between labor law and antitrust enforcement and a look at the U.S. Equal Employment Opportunity Commission's enforcement efforts on the nation's newest civil rights laws.

  • September 20, 2024

    JPMorgan Chase Sued Again Over Cash 'Sweep' Program

    JPMorgan Chase & Co. was hit with another proposed class action in California federal court claiming the bank's cash sweep investment program funnels customer funds into low-interest bearing accounts at its affiliate Chase Bank, a move that benefits the financial giant while depriving customers of the chance to earn the market-rate interest.

  • September 20, 2024

    Lawmakers Ask USPTO To Fix Patent Calculation Problem

    Federal patent officials need to change standards that could let drug companies hold on to patent rights beyond the time frame they are entitled to, according to federal lawmakers.

  • September 20, 2024

    Ex-Healthcare Exec Can't Sue GC Over Probe Advice

    A former Baxter International treasurer who was fired amid an investigation into improper foreign exchange transactions was correctly blocked from pursuing claims against the healthcare company and its general counsel over advice he received on navigating the probe, an Illinois appellate panel said Friday.

  • September 20, 2024

    2 SEC Commissioners Object To Whistleblower Award Secrecy

    U.S. Securities and Exchange Commissioners Mark Uyeda and Hester Peirce have objected to the agency's recent decision to hand out a total of $122 million in two awards to four whistleblowers and issued a statement taking issue with the regulator's policy of saying little to nothing about why the rewards are issued.

  • September 20, 2024

    Silvergate Wants Activist Investor's Board Seat Play Blocked

    The parent company of Silvergate Bank, a defunct bank that catered to the cryptocurrency industry, has asked the judge in its Delaware bankruptcy case to help head off what it described as an activist investor's effort to score a seat on the debtor's board so he can try to secure a payout for shareholders who are set to receive nothing under a Chapter 11 plan.

  • September 20, 2024

    J&J Makes Third Try At Handling Talc Claims In Bankruptcy

    A Johnson & Johnson talc unit filed for Chapter 11 protection in Texas bankruptcy court Friday, marking the third time the company has tried to deal with liability from alleged asbestos-contaminated talc with a bankruptcy filing.

  • September 20, 2024

    Microsoft Accused Of Racial Bias By Ex-Diversity Professional

    A former Microsoft employee tasked with helping advance diversity and inclusion efforts has filed a discrimination suit in Washington state court accusing the tech giant of an "ongoing campaign of intimidation, discrimination, and retaliation" against its Black female employees.

  • September 20, 2024

    Panera Can't Delay Trial Over Shook Hardy Attys' Schedule

    A Pennsylvania federal judge denied Panera Bread's repeated requests to delay a wrongful death trial, finding the restaurant chain will not be prejudiced if its desired Shook Hardy & Bacon LLP counsel cannot attend, as "plenty" of Shook Hardy lawyers can stand in, the judge said.

  • September 20, 2024

    Meruelo Group CLO Returns To Ballard Spahr As Partner

    A longtime Ballard Spahr attorney who spent the past three years as chief legal officer at the Meruelo Group this week began his second stint as a partner at the law firm.

  • September 20, 2024

    Ex-Stradley Ronon Securities Leader Joins Chapman In DC

    An attorney with more than two decades of experience in investment securities has moved his practice to Chapman and Cutler LLP's Washington, D.C., office after 22 years with Stradley Ronon Stevens & Young LLP.

  • September 20, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    The SEC will likely need to clear up confusion about fiduciary investment advice standards after two judges halted new retirement security regulations from the Labor Department. Meanwhile, the changing cyberinsurance market heads for what could be a seismic shift, as more insurers scale back standard IT breach policies. These are among the stories in corporate legal news you may have missed in the past week.

  • September 20, 2024

    Steel Biz Investors Sue Atty Over 'Father-Son'-Like Conflict

    A Pennsylvania couple have filed a malpractice suit accusing a lawyer of helping a steel distribution company induce them into investing about $800,000 and defrauding them, saying the attorney didn't disclose his relationship with the company's owners and "father-son"-like bond with one of them.

  • September 20, 2024

    FTC Accuses Drug Middlemen Of Raising Insulin Prices

    The Federal Trade Commission on Friday accused the three largest pharmacy benefits managers, Caremark Rx, Express Scripts and OptumRx, of artificially inflating insulin prices by relying on unfair rebate schemes that hurt competition.

  • September 19, 2024

    Publishers 'Did Not Trust Google,' Former Ad Tech Exec Says

    A former Google executive acknowledged Thursday that at least some website publishers sought a workaround to the search giant's advertising placement technology because they didn't trust the company's consolidated control, which the Justice Department has challenged in a Virginia federal courtroom.

  • September 19, 2024

    Republicans Air Grievances At House Hearing on FTC Practices

    The Federal Trade Commission ought to stick to combating consumer scams and leave the competition regulation alone — that was the general tenor of Republicans on Wednesday morning at a House hearing about the agency's past and present practices.

  • September 19, 2024

    Chancery Fast-Tracks Suit Over Renewable Energy Co. Buyout

    Delaware's Court of Chancery on Thursday expedited a lawsuit accusing a Repsol SA subsidiary of breaching an agreement requiring it to buy out the remaining shares in a Chicago-based renewable energy venture the Repsol unit co-owns.

  • September 19, 2024

    Birkin Bag Lovers Must Rework Antitrust Suit, Judge Says

    A California federal judge said Thursday that consumers behind a proposed antitrust class action accusing Hermes of unlawfully tying the sale of its iconic Birkin handbag to other expensive items should amend their complaint, since the current version doesn't show how the luxury fashion retailer has foreclosed competition.

Expert Analysis

  • Opinion

    Atty Well-Being Efforts Ignore Root Causes Of The Problem

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    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.

  • How Generative AI May Aid Merger Clearance Process

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    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.

  • Antitrust In Retail: The Meaning Of 'Accessible Luxury'

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    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.

  • What Passage Of House Crypto Bill Could Mean For Industry

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    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.

  • What 2 Rulings On Standing Mean For DEI Litigation

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    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.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q2

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    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.

  • FTC Focus: Competition And The Right To Repair

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    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.

  • Series

    Skiing And Surfing Make Me A Better Lawyer

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    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.

  • 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.

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