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January 16, 2025
Chancery Nixes More Docs For Exxon-Pioneer Merger Suit
Ruling that "any further intrusions are unwarranted," Delaware's Court of Chancery on Thursday rejected a Pioneer Natural Resources stockholder bid for additional emails and text messages between the company's former CEO and Exxon Mobil Corp.'s top executive related to the two company's $60 billion merger.
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January 16, 2025
Yellow Corp., Teamsters Debate WARN Suit Ahead Of Trial
Yellow Corp. and the unions representing many of the workers it laid off met in Delaware bankruptcy court Thursday to preview arguments they will deliver at a trial, set to start next week, that will determine whether the trucking company can escape some of the WARN Act claims it is facing after laying off 25,000 employees.
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January 16, 2025
McNair Son Wants Legal Fee Fight Set Back In Motion
The eldest son of late Houston businessman Bob McNair asked a Texas appeals court Wednesday to reverse an order temporarily halting his litigation seeking legal fees connected to a probate case over the management of his family's companies.
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January 16, 2025
Spirit Aero Hit With Chancery Suit Over $8.3B Boeing Merger
A Spirit Aerosystems stockholder has launched a proposed class suit in the Delaware Chancery Court challenging the company's $8.3 billion all-stock acquisition by its largest customer, Boeing, announced in July 2024, citing disclosure failures and other concerns.
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January 16, 2025
AmEx Inks $230M Deal Over DOJ, Fed Small Biz Sales Claims
American Express has signed a nonprosecution agreement and said Thursday it will pay about $230 million to end investigations by the Department of Justice and the Federal Reserve into the financial services company's previous sales practices for some small business customers in the U.S.
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January 16, 2025
Lawmakers Ask Biden To Pause TikTok Sale-Or-Ban Law
A group of lawmakers has urged President Joe Biden to extend a Sunday deadline for TikTok to divest from its Chinese parent company over national security concerns or face a nationwide ban, saying presidential action is needed to avoid "catastrophic" effects of the wildly popular social media platform going dark.
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January 16, 2025
Cleveland-Cliffs Sets Sights On US Steel, And More Rumors
Cleveland-Cliffs has re-emerged as a potential suitor to purchase U.S. Steel after President Joe Biden blocked Nippon's planned purchase, TikTok could be sold to Elon Musk, and Prada is among potential suitors eyeing Versace. Here, Law360 breaks down these and other notable deal rumors from the past week.
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January 16, 2025
Defense Fights Privilege Waiver In $250M COVID Fraud Case
A Minnesota nonprofit director accused of orchestrating a $250 million fraud scheme using funds from a COVID-19 federal food program has told a federal judge that prosecutors are wrong to argue that her lawyer's testimony at her impending trial will waive her attorney-client privilege, since the lawyer would be discussing facts, not advice.
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January 16, 2025
Paxton-Tied Developer Pleads Guilty In Bank Fraud Case
A real estate developer whose ties to Texas Attorney General Ken Paxton were central to his 2023 impeachment case pled guilty Wednesday to unrelated charges of making false statements to a mortgage lender.
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January 15, 2025
Novartis Wins Temporary Stay Of MSN's Generic Heart Drug
The D.C. Circuit late Wednesday temporarily halted the U.S. Food and Drug Administration's approval of MSN Pharmaceuticals' generic version of Novartis' blockbuster heart failure drug Entresto, just after federal judges in D.C. and Delaware declined to block the launch of MSN's product.
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January 15, 2025
Microsoft Accused Of Stealing Online Marketer Commissions
An affiliate marketing company whose software aims to help online shoppers support or avoid certain businesses hauled Microsoft into Washington federal court on Tuesday, alleging in a proposed class action that the technology giant steals referral fees and sales commissions by replacing online marketers' affiliate marketing cookies with its own.
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January 15, 2025
Wells Fargo Unit Sued Over Ex-Rep's EB-5 Investment Scheme
A Wells Fargo subsidiary has been hit with a suit in Nevada federal court by an attorney and real estate developer who claims she and several other entities were hit with a U.S. Securities and Exchange Commission enforcement action because the Wells Fargo subsidiary and one of its former employees gave bad investment advice.
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January 15, 2025
Gilead, Feds Resolve HIV Drug Patent Dispute Amid Appeal
Gilead Sciences and the federal government have agreed to dismiss all claims and counterclaims in a yearslong intellectual property and contract battle over HIV prevention drugs Truvada and Descovy, according to stipulations of voluntary dismissal filed Wednesday in both the Federal Circuit and Delaware federal court.
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January 15, 2025
GE Investors' $362.5M Settlement Gets Initial Greenlight
Investors in manufacturing giant General Electric Co. have gotten an initial nod for their proposed $362.5 million eve-of-trial deal to end long-running claims that the company fraudulently concealed cash flow problems, allegedly resulting in plummeting shares after its fiscal woes were disclosed.
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January 15, 2025
SEC's Last-Minute Musk Suit Could Be Scuttled Under Trump
The U.S. Securities and Exchange Commission's latest lawsuit against Elon Musk is unlikely to be viewed favorably by the incoming administration of President-elect Donald Trump, which may press for a lesser penalty or even move to dismiss the case outright, attorneys told Law360 on Wednesday.
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January 15, 2025
9th Circ. Revives H-1B Fraud Charges Against CEO, HR Head
The Ninth Circuit on Tuesday revived criminal visa fraud charges against a semiconductor company's CEO and human resources manager, saying in a published opinion that the government could protect itself against fraud, even through questions it had no right asking.
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January 15, 2025
FTC Won't Disqualify Commissioners From PBM Insulin Case
The Federal Trade Commission denied bids from Caremark Rx, Express Scripts and OptumRx that sought to bar the commission's Democratic members from participating in a case accusing the pharmacy benefit managers of inflating insulin prices.
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January 15, 2025
Amazon Sr. Counsel Moves To Mintz's Tech, Telecom Practice
Mintz has tapped a former senior counsel at Amazon to join its Washington, D.C., office as a member and boost Mintz's decades-old technology, communications, and media practice, the global law firm announced Wednesday.
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January 15, 2025
SEC Dings Pharma Co., Ex-CFO Over Prescription Scheme
The U.S. Securities and Exchange Commission announced it has settled claims against bankrupt DMK Pharmaceuticals Corp. and its ex-chief financial officer over their alleged role in a fraudulent scheme to generate revenues using illegal prescriptions for horse medications.
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January 15, 2025
Feds Sue Southwest Over 'Chronically Delayed Flights'
The U.S. Department of Transportation says Southwest Airlines Co. must pay more than $2.1 million in civil penalties for "chronically delayed flights" in a lawsuit filed in California federal court Wednesday, the same day Frontier Airlines Inc. agreed to pay the government $650,000 to resolve similar allegations.
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January 15, 2025
Toyota Asks NC Court To Undo 'Impossible' Discovery Orders
Toyota and Subaru urged the North Carolina Supreme Court to review an appeals court's decision that left in place a slew of "impossible" discovery obligations, saying they are "unjustly" being held responsible for violations they did not commit and face "a likelihood of crushing" sanctions.
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January 15, 2025
Tenn. Judge Says PCAOB Authority Challenge Belongs In DC
A Tennessee federal judge on Wednesday transferred a certified public accountant's constitutional challenge against the Public Company Accounting Oversight Board to Washington, D.C., finding the board's headquarters, regulatory actions and related cases in that district made it the more appropriate venue.
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January 15, 2025
Incoming FCC Chair Blasts Agency's Salt Typhoon Response
The Federal Communications Commission's incoming chair on Wednesday blasted an as-yet-unreleased agency decision meant to address network vulnerabilities in the wake of the Salt Typhoon cyberattack that he said misreads federal law.
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January 15, 2025
Crypto Co. Kraken's Legal Chief Says He's Stepping Down
The legal head of Kraken announced Wednesday that he is stepping down as chief legal officer and stepping into a senior adviser role that will see him build a global advisory council at the crypto exchange.
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January 15, 2025
Silvergate's Ex-CFO Fires Back At SEC Accounting Claims
The former chief financial officer of defunct crypto-focused bank Silvergate Capital urged a New York federal judge to toss the U.S. Securities and Exchange Commission's allegations that he concealed the bank's precarious financial position, saying he didn't have anything to gain from hiding Silvergate's financial woes.
Expert Analysis
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Small Biz Caught In Corporate Transparency Act Crossfire
Despite compliance being put on hold due to a nationwide preliminary injunction, small businesses have been caught in the middle of the legal battle over the Corporate Transparency Act — and confusion over the law's requirements could result in major penalties, say attorneys at Snell & Wilmer.
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Forecasting The Future Of The FTC Post-Inauguration
The incoming Federal Trade Commission leadership's agenda, which is expected to be in sharp contrast with the Biden administration's enforcement posture, will be noticeable right away in the first few weeks of the Trump administration, say attorneys at Cooley.
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5 Notable Information Security Events In 2024
B. Stephanie Siegmann at Hinckley Allen discusses 2024's largest and most destructive data breaches seen yet, ranging from ransomware disrupting U.S. healthcare systems on a massive scale, to tensions increasing between the U.S. and China over cyberespionage and the control of U.S. data.
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Series
Playing Rugby Makes Me A Better Lawyer
My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.
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Series
Texas Banking Brief: All The Notable Legal Updates In Q4
The fourth quarter of 2024 brought noteworthy developments to the Texas financial services sector, particularly a new state artificial intelligence bill and a Consumer Financial Protection Bureau rule that will affect an outsize number of Texas community banks, says Tyler George at Naman Howell.
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Cyber Disclosure Is A Mainstay In 2025 SEC Exam Priorities
Despite a new administration and a new U.S. Securities and Exchange Commission chair incoming, the SEC's 2025 examination priorities signal that cybersecurity disclosures and risk management practices will remain important due to the growing threat of cyberattacks, says Anjali Das at Wilson Elser.
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Nippon, US Steel Face Long Odds On Merger Challenge
Following the Committee on Foreign Investment in the United States' review of Japan's Nippon Steel's proposed acquisition of U.S. Steel, the companies face a formidable uphill battle in challenging the president's exercise of authority to block the deal on national security grounds, say attorneys at Kirkland.
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Opinion
No, Litigation Funders Are Not 'Fleeing' The District Of Del.
A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.
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The Compliance Trends And Imperatives On Tap In 2025
The corporate ethics and compliance landscape is rapidly evolving, posing challenges from conflicting stakeholder expectations to technological disruptions, and businesses will need to explore human-centered, data-driven and evidence-based practices, says Hui Chen at CDE Advisors.
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How Trump Presidency May Influence NLRB's Next Phase
Attorneys at Paul Hastings discuss how last year’s key National Labor Relations Board developments may progress once President-elect Donald Trump takes office, including the wave of lawsuits challenging the board’s constitutionality and two landmark board decisions that upset decades of precedent.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q4
Douglas Thompson at Snell & Wilmer highlights a number of recent and pending issues, actions and potentially pivotal federal regulatory and legislative developments on deck that will affect California banks and financial institutions.
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5 Advertising Law Trends To Watch In 2025
Although advertisers are encouraged by the incoming Trump administration's focus on deregulation, this year could feel like wading through uncharted waters, and decreased federal government regulation may mean increased state regulation, say attorneys at Reed Smith.
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5 E-Discovery Predictions For 2025 And Beyond
In the year to come, e-discovery will be shaped by new and emerging trends, from the adoption of artificial intelligence provisions in protective orders, to the proliferation of emojis as a source of evidence in contemporary litigation, say attorneys at Littler.
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Best Practices To Find Del. Earnout Provisions That Hold Up
Recent Delaware earnout litigation illustrates the need for careful drafting and proactive planning to avoid later divergent interpretations of the signed contract, and a series of drafting tips can help, say attorneys at Cozen O'Connor.
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Climate Disclosure Spotlight Shifts To 2 Calif. Laws
With Donald Trump's election spelling the all-but-certain demise of the proposed federal climate disclosure rules, new laws in California currently stand as the nation's only broadly applicable climate disclosure requirements — and their brevity is both a blessing and a curse, say attorneys at Davis Polk.