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Corporate
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August 27, 2024
NY Pension Funds Join Illumina Deal Suit Pile-On In Del.
New York state's retirement system and fund have added a new derivative suit to widening stockholder litigation over Illumina Inc.'s $8 billion reacquisition of cancer testing company Grail Inc. despite European Commission regulatory agency opposition.
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August 27, 2024
SEC Cites Amazon's FTC Loss In Coinbase Document Dispute
The U.S. Securities and Exchange Commission on Tuesday told a New York federal judge that a recent ruling denying Amazon's request to review internal documents from the Federal Trade Commission bolsters its own bid to shield internal communications in its enforcement suit against crypto exchange Coinbase.
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August 27, 2024
Self-Driving Truck Co. Inks $189M Deal To End Investor Suit
Self-driving trucking company TuSimple Holdings Inc. has agreed to pay $189 million to settle a class action lawsuit alleging it misled investors about its safety record and payments to a Chinese rival that opened it up to U.S. government investigations, according to a filing in California federal court.
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August 27, 2024
Del. Court Nixes Trump Media Contempt Bid In Share Suit
A Delaware vice chancellor declined on Tuesday to find Donald Trump's social media venture in contempt for suing in Florida to block the release of two Trump Media & Technology Group founders' shares, while the same founders are battling for the stock in the Court of Chancery.
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August 27, 2024
Judges Upend Alaska Airlines Loss, Blame Jury Instruction
A Washington state appeals court on Tuesday threw out a jury verdict granting an Alaska Airlines flight attendant workers' compensation for catching COVID-19 while away from home for her job, in an opinion that said a jury instruction misstated a legal doctrine covering traveling workers.
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August 27, 2024
Chamber Backs Duke Bid To Review Monopoly Suit's Revival
The U.S. Chamber of Commerce is backing Duke Energy Carolinas' bid for an en banc rehearing in the Fourth Circuit after a panel there revived NTE Energy's antitrust suit against the company.
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August 27, 2024
Taco Bell Franchisee Will Pay $2M To End Job-Posting Suits
A Taco Bell franchisee, Sharp Electronics and DoorDash are among the latest employers to reach class deals in Washington state court to end job seekers' allegations they failed to include salary or wage ranges in job postings, in violation of Evergreen State pay transparency laws.
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August 27, 2024
Polluted Conn. Property Owner's Fraud Suit Deemed Too Late
The former owner of a contaminated Connecticut industrial property waited too long to sue the company that bought the site in 1999 on claims that the buyer fraudulently transferred funds to avoid paying for environmental cleanup, a state court judge has ruled.
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August 27, 2024
Chancery Voids Bank Board Picks In Scheduling Suit
A Delaware Chancery Court judge on Tuesday invalidated an annual meeting where a board election was held by directors of Golden Mountain Financial Holdings, restoring the preelection boards of the venture, which emerged from the bankruptcy of First NBC Bank Holding Co.
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August 27, 2024
Asbestos Claimants Tell 4th Circ. Bestwall Isn't Distressed
The official committee of asbestos claimants in the Chapter 11 case of Georgia-Pacific unit Bestwall told the Fourth Circuit that the company's bankruptcy should be tossed because commitments to fund asbestos liabilities by the parent mean the debtor isn't facing financial distress.
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August 27, 2024
Car-Sharing Co. Turo Accused Of Shirking Own Arb. Terms
California-based car-sharing company Turo has been hit with a proposed class action in Illinois federal court claiming it violated its own terms of service by refusing to arbitrate consumers' disputes or pay its required portion of the arbitration filing fees.
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August 27, 2024
No Coverage For Tire Co.'s Unpaid Invoices, Judge Rules
A tire manufacturer cannot get insurance coverage for millions in unpaid invoices it is owed, a Florida federal court has ruled, finding that the manufacturer made a material misrepresentation in its insurance application concerning the creditworthiness of one of its largest customers.
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August 27, 2024
Salesforce To Pay $1.35M To 50K-Plus ERISA Class
Salesforce will pay $1.35 million to more than 50,000 employees who accused the company, its board and its investment committee of violating the Employee Income Retirement and Security Act by picking expensive investment options and underperforming funds, according to a preliminary approval motion filed in California federal court.
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August 27, 2024
NY Fines Nordea Bank $35M In Panama Papers-Linked Action
New York's Department of Financial Services announced Tuesday that Nordea Bank Abp will pay $35 million to settle allegations of "significant" anti-money laundering compliance failures, including helping customers set up offshore accounts for tax-sheltered companies tied to the Panama Papers.
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August 27, 2024
Treasury Asked To Scrap Stock Buyback Tax's Funding Rule
Business groups urged the U.S. Treasury Department on Tuesday to remove what's known as the funding rule in forthcoming final regulations on the stock buyback tax, saying the provision would go beyond Congress' intentions for the levy, which aims to deter companies from giving outsize rewards to shareholders.
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August 27, 2024
Colo. Startup Founder Disbarred For Conflicts, Dishonesty
A Denver attorney who co-founded and provided legal services for a publicly traded software startup has been disbarred in Colorado for widespread misconduct including failing to inform the company that he issued stock in excess of what had been authorized, practicing law with a suspended license, and conversion of thousands of dollars in corporate funds.
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August 27, 2024
Google Privacy Class Action Delays Irk Discovery Judge
A California federal judge expressed frustration Tuesday with discovery delays in a years-old class action alleging Google Assistant-enabled devices surreptitiously recorded conversations, telling attorneys they've already "been around and around and around" on discovery fights, and "we need to keep this moving."
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August 27, 2024
New Cigna CLO Vows To Help Co. Navigate 'Dynamic' Industry
Cigna has promoted one of its in-house lawyers, who has spent her in-house and private practice career in the healthcare space, to chief legal officer, according to a LinkedIn post.
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August 27, 2024
SXSW, Chubb Unit Settle Ticket Coverage Dispute
The organizers of the South by Southwest festival and a Chubb insurer told a Texas federal court they settled their dispute over coverage for costs stemming from a class action by ticket holders seeking refunds after the 2020 festival was canceled because of the COVID-19 pandemic.
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August 27, 2024
Morgan Stanley Applicant Drops Suit After Pseudonym Order
A Massachusetts woman on Tuesday dropped her proposed class action claiming Morgan Stanley illegally used protected criminal history information to discriminate against applicants, after a federal judge ruled she couldn't advance the lawsuit under a pseudonym.
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August 27, 2024
Google Wants Out Of IP Suit Over Pirated Books
Google asked a Manhattan federal judge to dismiss allegations that it allowed advertisements to be shown to users from websites that sell pirated textbooks, claiming it has no ability to supervise those sites and isn't profiting from alleged pirating.
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August 27, 2024
Gusrae Kaplan Says Suit Over 'Frivolous' Filing Rightly Tossed
Gusrae Kaplan Nusbaum PLLC is urging the Delaware Supreme Court to affirm the dismissal of an Applied Energetics complaint alleging the firm and a former partner filed a frivolous securities fraud suit in order to hobble other litigation against a former CEO, accusing the laser-weapons maker of making "fanciful" arguments in its appeal.
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August 27, 2024
Kirkland Adds Energy Regulatory Pro From Vinson & Elkins
Kirkland & Ellis LLP has hired a corporate attorney who worked at Vinson & Elkins LLP for 16 years as a partner in its energy regulatory practice group.
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August 26, 2024
Uber Hit With €290M Dutch Fine For EU Data Transfers To US
The Netherlands' data protection authority has fined Uber €290 million ($324 million) on allegations it failed to use a valid mechanism for sending European drivers' personal data to the U.S. for more than two years, a penalty that the ride-sharing provider has vowed to appeal.
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August 26, 2024
Albertsons Paints Picture Of Dire Future Without Kroger Deal
Albertsons told an Oregon federal judge Monday that if the Federal Trade Commission is able to block a proposed merger with Kroger, it could lead to layoffs and shuttered stores, because a go-it-alone Albertsons doesn't have the wholesale buying power to compete with Walmart and Costco on prices.
Expert Analysis
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Navigating The Extent Of SEC Cybersecurity Breach Authority
The U.S. Securities and Exchange Commission's broad reading of its authority under Section 13(b)(2)(B) of the Securities Exchange Act in the R.R. Donnelley and SolarWinds actions has ramifications for companies dealing with cybersecurity breaches, but it remains to be seen whether the commission's use of the provision will withstand judicial scrutiny, say attorneys at Sullivan & Cromwell.
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Series
After Chevron: Rethinking Agency Deference In IP Cases
The U.S. Supreme Court’s recent overturning of Chevron deference could make it simpler to challenge the U.S. Patent and Trademark Office’s proposed rule on terminal disclaimers and U.S. International Trade Commission interpretations, says William Milliken at Sterne Kessler.
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Best Text Practices In Light Of Terraform's $4.5B Fraud Deal
Text messages were extremely important in a recent civil trial against Terraform Labs, leading to a $4.5 billion settlement, so litigants in securities fraud cases need to have robust mobile data policies that address the content and retention of messages, and the obligations of employees to allow for collection, say Josh Sohn and Alicia Clausen at Crowell & Moring.
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Series
Solving Puzzles Makes Me A Better Lawyer
Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.
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Series
After Chevron: Uniform Tax Law Interpretation Not Guaranteed
The loss of Chevron deference will significantly alter the relationship between the IRS, courts and Congress when it comes to tax law, potentially precipitating more transparent rulemaking, but also provoking greater uncertainty due to variability in judicial interpretation, say Michelle Levin and Carneil Wilson at Dentons.
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Series
After Chevron: Environmental Law May Face Hurdles
The U.S. Supreme Court's recent ruling overturning Chevron deference could prove to be as influential as the original 1984 decision, with far-reaching implications for U.S. environmental laws, including rendering recently promulgated regulations more vulnerable to challenges, say attorneys at Morgan Lewis.
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Opinion
'Trump Too Small' Ruling Overlooks TM Registration Issues
The U.S. Supreme Court's decision last month in Vidal v. Elster, which concluded that “Trump Too Small” cannot be a registered trademark as it violates a federal prohibition, fails to consider modern-day, real-world implications for trademark owners who are denied access to federal registration, say Tiffany Gehrke and Alexa Spitz at Marshall Gerstein.