Corporate

  • June 14, 2024

    Ozy Trial Gets Heated, Exec Tells Of Lies, Google CEO Pops In

    Courtroom tempers flared, Alphabet and Google CEO Sundar Pichai dropped by and a former Ozy Media executive on Friday told the jury weighing fraud charges against the startup's charismatic founder Carlos Watson of how they nearly conned Buzzfeed into buying the company by faking its financials.

  • June 14, 2024

    Electronics Cos. Fight 'Drastic' $2B Price-Fixing Default

    Irico Group and a subsidiary on Thursday opposed a special masters report recommending the Chinese electronics companies should be on the hook for over $2 billion in default judgment in litigation alleging they participated in a cathode ray tube price-fixing conspiracy, telling a California federal court the remedy is "drastic" and unwarranted.

  • June 14, 2024

    Fed Limits Bank's Fintech Dealings Over Risk Concerns

    The Federal Reserve filed a cease-and-desist order against an Arkansas bank Friday requiring it to obtain federal and state approval before partnering with any fintech companies going forward after the agency identified risk management deficiencies in recent safety and compliance exams.

  • June 14, 2024

    Amazon Sued For Locking Up Audiobooks, Charging Up To 75%

    A romance novelist challenged Amazon.com Inc.'s control of up to 80% of the U.S. audiobook market Thursday in a Washington federal court proposed class action accusing the retail giant of using exclusivity restrictions to lock in independent authors, extracting up to 75% of the sales price on Audible.

  • June 14, 2024

    Ex-OAG Deputy Picked For Houston Division Of Biz Court

    A former Texas deputy assistant attorney general and a Diamond McCarthy LLP partner are among Gov. Greg Abbott's latest picks for the statewide business court, according to a Friday announcement.

  • June 14, 2024

    Potato Co.'s Software Rollout Fried Its Revenue, Suit Says

    Potato product manufacturer Lamb Weston has been hit with a proposed shareholder class action in Idaho federal court alleging that it concealed from investors information about the botched implementation of software that had been intended to improve the efficiency of the company's operations but ended up costing the company millions in lost sales.

  • June 14, 2024

    Real Estate Recap: Special Servicers, 'Dirty' Money, Alt Energy

    Catch up on this week's key developments by state from Law360 Real Estate Authority — including recent litigation targeting special servicers, a 700% increase in brownfield funding, and one BigLaw real estate leader's take on alternative energy as interest rates hold steady.

  • June 14, 2024

    Publishing Exec's Family Says Ohio Law Allowed His Ouster

    The board of an Ohio-based media company have said state law empowered them to oust former CEO Allan Block from his family's namesake company and urged an Ohio state court to dismiss the suit he brought over the potential sale of the company that publishes newspapers in Toledo and Pittsburgh.

  • June 14, 2024

    Elon Musk's Court Cases Remain A Live Issue In Delaware

    Delaware's courts will continue to assert control over a multibillion-dollar Tesla Inc. legal fee dispute despite the company's rushed effort to reincorporate in Texas and potentially put CEO Elon Musk's massive, multiyear compensation plan beyond the state's reach, those familiar with the case said Friday.

  • June 14, 2024

    SEC Says Bahamas Firm Was Set Up To Skirt Day Trading Rules

    The U.S. Securities and Exchange Commission opened its case Friday against high-frequency trading expert — and former government informant — Guy Gentile, telling jurors in Florida federal court that he set up a broker-dealer in the Bahamas specifically to evade U.S. day trading regulations designed to protect American investors.

  • June 14, 2024

    BP Unit Slapped With $300M Franchise Termination Suit

    A trio of entities controlled by two self-proclaimed franchise veterans filed suit in Ohio federal court against a travel center operator acquired by BP in 2023, alleging the company terminated a franchise agreement without warning and caused at least $300 million in damages.

  • June 14, 2024

    France Offers $750M For Atos' Cyber, Data Assets

    Information technology firm Atos SE said Friday that it has received a nonbinding offer from the French government to buy certain big data and cybersecurity operations at an enterprise value of €700 million ($750 million).

  • June 14, 2024

    Employment Authority: High Court's NLRB Injunction Shift

    Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on the U.S. Supreme Court's opinion involving Starbucks that standardized the National Labor Relations Board's injunction test, a look at Law360's pay disclosure law tracker and a review of the U.S. Equal Employment Opportunity Commission's amicus briefs in the first half of 2024.

  • June 14, 2024

    X Dodges Porn Filter BIPA Suit For Now

    An Illinois federal judge has thrown out a proposed class action accusing X Corp. of violating the state's biometric privacy law through its use of software to police pornographic images, saying the lead plaintiff failed to allege that the tool can be used to identify specific individuals. 

  • June 14, 2024

    'Alkaline Water' Co. Owes Another $3.1B For Liver Failures

    A Las Vegas jury awarded $3 billion in punitive damages and $89.75 million in compensatory damages Friday to a group of children and adults who experienced severe liver problems after drinking toxin-adulterated "alkaline water," adding to the product maker's legal woes.

  • June 14, 2024

    Novant Urges 4th Circ. To Reject FTC's 'Emergency' Bid

    Novant Health told the Fourth Circuit there is no need to block its planned North Carolina hospital purchase while the Federal Trade Commission pushes a merger challenge, saying the deal will increase competition by preventing the hospitals from closing.

  • June 14, 2024

    DOJ Can't Force Retroactive FARA Registration, DC Circ. Says

    The U.S. Department of Justice can't force casino magnate Steve Wynn to retroactively register as a foreign agent because his alleged lobbying efforts on behalf of China ended years ago, a D.C. Circuit panel ruled Friday.

  • June 14, 2024

    Off The Bench: Ex-Players Claim NIL, Loss For Trans Swimmer

    In this week's Off The Bench, the 1983 men's college basketball champions want a piece of the loot the NCAA made off of their names, swimmer Lia Thomas loses in her bid to overturn an international trans athlete ban, and the House gets a bill through committee that would keep college athletes from becoming employees.

  • June 14, 2024

    Burford Bound To Sysco And Pilgrim's Unsigned Chicken Deal

    An Illinois federal judge on Friday rejected a Burford subsidiary's bid to block a global protein price-fixing settlement that Pilgrim's Pride and Sysco memorialized through email but never signed on paper, saying it's clear the parties reached a material agreement.

  • June 14, 2024

    Daimler Truck Unit Says Mexican Supply Slowdown Cost $18M

    A Daimler Truck subsidiary claimed in a lawsuit filed in Michigan federal court that a supplier's failure to keep up with production volumes has forced the diesel-engine manufacturer to stall its own production and lose more than $18 million.

  • June 14, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    The governor of Vermont vetoed a legislative proposal that would have given consumers not only new data privacy rights but also the rare opportunity to sue large businesses for certain violations, and a multipart Delaware General Corporation Law amendment that would let boards cede some governance rights to big stockholders sailed through the state's Senate without debate or an opposing vote. These are among the stories in corporate legal news you may have missed in the past week.

  • June 14, 2024

    Full DC Circ. Won't Hear Foreign Disclosure Penalty Dispute

    The D.C. Circuit declined to reconsider its ruling overturning a major U.S. Tax Court decision that had crimped the administrative collection arm of the Internal Revenue Service, letting stand a panel's restoration of the agency's power to more freely penalize undisclosed foreign corporations.

  • June 14, 2024

    Japan's Kirin Plans $1.4B Fancl Purchase Amid Health Kick

    Kirin Holdings Co. said Friday that it plans to buy the remaining shares it doesn't own in Fancl Corp. for about $1.4 billion, part of the Japanese beverage giant's continued push into the consumer health sector.

  • June 14, 2024

    DOJ's Google Ad Tech Suit Bound For Sept. Trial

    A Virginia federal judge said Friday that the U.S. Department of Justice's lawsuit accusing Google of monopolizing technology used to place ads on third-party websites will go to trial, finding too many factual disputes to let the search giant nix the case.

  • June 13, 2024

    Visa, Mastercard Fee Deal Not 'Likely' To Get Court Approval

    A New York federal judge said at a hearing Thursday that she will "likely not approve" Mastercard and Visa's proposed settlement in long-running litigation over merchant transaction fees, according to the case docket.

Expert Analysis

  • Breaking Down EPA's Rule On PFAS In Drinking Water

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    Last week, the U.S. Environmental Protection Agency finalized the first enforceable federal drinking water regulation for PFAS, which, along with reporting and compliance requirements for regulated entities, will have a number of indirect effects, including increased cleanup costs and the possible expansion of existing Superfund sites, say attorneys at Morgan Lewis.

  • Banks Have Won Syndicated Loan Battle, But Not The War

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    Though the U.S. Supreme Court's recent denial of certiorari in Kirschner v. JPMorgan preserves the status quo that syndicated loans are not securities, the U.S. Securities and Exchange Commission's discomfort suggests that the underlying issues have not been fully resolved, say attorneys at Crowell & Moring.

  • The Art Of Asking: Leveraging Your Contacts For Referrals

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    Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.

  • Compliance Strategies To Mitigate 3 New Areas Of AI Risk

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    The era of artificial intelligence-assisted corporate crime is here, but several concrete mitigation strategies can allow companies to address the new, rapidly evolving threats posed by deepfakes, information barrier evasion and AI model manipulation, say attorneys at Debevoise.

  • Refresher On Employee Qualifications For Summer Interns

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    Before companies welcome interns to their ranks this summer, they should consider the extent to which the interns may be entitled to the same legal protections as employees, including the right to be paid for their hours worked and to receive at least minimum wage and overtime, says Kate LaQuay at Munck Wilson.

  • The Drawbacks Of Banking Regulators' Merger Review Plans

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    Recent proposals for bank merger review criteria by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. share common pitfalls: increased likelihood of delays, uncertainties, and new hurdles to transactions that could impede the long-term safety and soundness of the banks involved, say attorneys at WilmerHale.

  • Opinion

    The FTC's Noncompete Rule Is Likely Dead On Arrival

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    The Federal Trade Commission's April 23 noncompete ban ignores the consequences to the employees it claims to help — but the rule is unlikely to go into effect provided the ideological makeup of the U.S. Supreme Court remains the same, say Erik Weibust and Stuart Gerson at Epstein Becker.

  • Unpacking The Bill To Extend TCJA's Biz-Friendly Tax Breaks

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    Attorneys at Skadden examine how a bipartisan bill currently being considered by the U.S. Senate to save the Tax Cuts and Jobs Act's tax breaks for research and development costs, and other expiring business-friendly provisions, would affect taxpayers.

  • Class Actions At The Circuit Courts: April Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses three notable circuit court decisions on topics from the Class Action Fairness Act to consumer fraud — and provides key takeaways for counsel on issues including CAFA’s local controversy exception and Article III standing to seek injunctive relief.

  • Perspectives

    Criminal Defendants Should Have Access To Foreign Evidence

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    A New Jersey federal court recently ordered prosecutors to obtain evidence from India on behalf of the former Cognizant Technology executives they’re prosecuting — a precedent that other courts should follow to make cross-border evidentiary requests more fair and efficient, say Kaylana Mueller-Hsia and Rebecca Wexler at UC Berkeley School of Law.

  • McKesson May Change How AKS-Based FCA Claims Are Pled

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    The Second Circuit’s analysis in U.S. v. McKesson, an Anti-Kickback Statute-based False Claims Act case, provides guidance for both relators and defendants parsing scienter-related allegations, say Li Yu at Dicello Levitt, Ellen London at London & Stout, and Erica Hitchings at Whistleblower Law.

  • 5 Employer Actions Now Risky After Justices' Title VII Ruling

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    Last week in Muldrow v. St. Louis, the U.S. Supreme Court ruled that harm didn't have to be significant to be considered discriminatory under Title VII of the Civil Rights Act, making five common employer actions vulnerable to litigation, say Kellee Kruse and Briana Scholar at The Employment Law Group.

  • Chancery's Carvana Suit Toss Shows Special Committee Value

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    The Delaware Chancery Court’s recent dismissal of a stockholder complaint against Carvana illustrates how special litigation committees can be a powerful tool for boards to regain control after litigation alleging a breach of fiduciary duty, say attorneys at Morgan Lewis.

  • EPA Chemical Safety Rule Raises Questions About Authority

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    Stakeholders should consider the practical and economic costs of the U.S. Environmental Protection Agency's recently finalized rule imposing novel board reporting regulations for certain chemical plants and refineries, which signals that the agency may seek a role in regulating corporate governance, say attorneys at Sidley.

  • Series

    Being An Equestrian Makes Me A Better Lawyer

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    Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.

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