Corporate

  • August 02, 2024

    McKinsey's $78M Opioid Deal With Health Plans Gets OK

    A California federal judge said Friday he'll approve McKinsey & Co. Inc.'s $78 million deal to resolve claims on behalf of approximately 42,000 third-party payors, with class counsel receiving $15.1 million in fees, after the initial settlement was tweaked due to objections from some plaintiffs' attorneys.

  • August 02, 2024

    Wells Fargo's AML, Sanctions Programs Facing Investigation

    Wells Fargo & Co. has said it is facing scrutiny from "government authorities" over issues with its anti-money laundering and sanctions compliance programs, further noting it is in talks with the U.S. Securities and Exchange Commission to settle an investigation into its investment account cash sweep offerings.

  • August 02, 2024

    Corporate Battles Thrust Activist Investing Into The Spotlight

    Disney and Starbucks are among the big-name corporations that have recently gone toe to toe with activist investors, spotlighting an upswing in activist demands against U.S. companies in the first half of the year. 

  • August 02, 2024

    Chancery Won't Force Open Paramount's Books On Skydance

    A pension fund shareholder that sued Paramount Global for more information on its pending merger with Skydance Media may not have access to the entertainment company's corporate documents because the pension fund hasn't shown a "credible basis" to suspect wrongdoing, Delaware's Court of Chancery ruled Friday.

  • August 02, 2024

    Patients Ink $1M Deal To Settle Pharmacy Data-Breach Claims

    A home-delivery pharmacy service struck by a data breach in 2021 has agreed to pay $1 million to settle a class action brought by plaintiffs whose personal information was compromised, according to a Friday filing.

  • August 02, 2024

    DOJ Says Apple 'Has No Basis' To Delay Discovery

    The U.S. Department of Justice is urging a New York federal judge to get the ball rolling on discovery in its case accusing Apple of anticompetitively restricting app access to lock users into the iPhone.

  • August 02, 2024

    Boeing's New CEO To Steer Daunting Safety Culture Rebound

    Boeing's selection of an engineer and longtime aerospace industry executive as its next CEO demonstrates an eagerness to correct course amid daunting legal and regulatory troubles, as victims' families relentlessly press for Boeing to face a criminal trial over the two 737 Max 8 crashes.

  • August 02, 2024

    Real Estate Recap: Grants Pass, Population Data, CMBS Risk

    Catch up on the past week's key developments by state from Law360 Real Estate Authority — including city and state reactions to the U.S. Supreme Court's ruling on homeless encampments, a new proptech venture leveraging population data for investors and developers, and one BigLaw leader's view of which sectors are most sensitive to commercial mortgage-backed securities distress.

  • August 02, 2024

    Five Below Hit With Investor Suit Over Growth Potential

    Discount retail chain Five Below has been sued by investors claiming its executives misled investors about the growth potential of its stores, causing stock prices to tumble.

  • August 02, 2024

    4 ERISA Excessive Health Fee Suits To Watch

    The Third Circuit will decide whether to revive a suit from MetLife workers alleging their pharmacy benefits were mismanaged, while suits proceed in district court against Wells Fargo and Johnson & Johnson alleging they violated the Employee Retirement Income Security Act via high drug costs a pharmacy benefit manager charged workers. Here, Law360 looks at four cases involving claims that employers violated ERISA by charging high healthcare costs — including for prescription drugs — that attorneys are watching.

  • August 02, 2024

    Dollar Tree To Pay $190K Over Heavy Metals In Kids Products

    The Washington state attorney general has announced that Greenbrier International Inc., importer and purchaser for sister company Dollar Tree Stores Inc., has agreed to pay $190,000 and bolster its testing to resolve a probe that the attorney general said found heavy metals in children's school supplies.

  • August 02, 2024

    Cognizant Bribery Trial Delayed Again — Until 2025

    Trial in a five-year-old case alleging two former Cognizant executives authorized a bribe to a government official in India has been delayed again, this time by six months, so prosecutors can complete necessary depositions in that country, according to a federal court order handed down Friday.

  • August 02, 2024

    Privacy & Cybersecurity Midyear Report: 4 Areas To Watch

    New York and Colorado shook up the data privacy landscape by enacting groundbreaking laws protecting children online and clamping down on high-risk uses of artificial intelligence during the first half of 2024, and both states and the federal government are expected to devote considerable attention to these areas in the coming months. 

  • August 02, 2024

    Manhattan DA Slams Trump's 'Regurgitated' Recusal Bid

    The Manhattan district attorney pilloried Donald Trump's renewed request for the judge overseeing his hush money case to recuse himself, branding it a "regurgitated" attempt to rehash issues the court already decided without any new facts — besides Kamala Harris' presidential bid.

  • August 02, 2024

    Ex-Loeb Tax Atty Latest Addition To Kilpatrick's NY Team

    A former Loeb & Loeb LLP attorney is bringing his experience in U.S. federal tax matters and real estate transactions to Kilpatrick Townsend & Stockton LLP, the firm announced Thursday.

  • August 02, 2024

    SEC Narrows Its Rulemaking Focus As Election Looms

    The U.S. Securities and Exchange Commission's aggressive rulemaking spree is showing signs of dwindling as November elections loom, although several proposals could be primed for autumn votes if regulators wish to tackle hot-button topics.

  • August 02, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    The DOJ unveiled its pilot program to reward whistleblowers who alert prosecutors to significant corporate misconduct — though the rollout didn't come without criticism from attorneys — and a new report determined that class actions accusing companies of deceiving investors about their AI capabilities are on the rise this year.

  • August 02, 2024

    Ex-CFO Of Embattled PE Firm Sues In Del. For Legal Fees

    The former chief financial officer of 777 Partners LLC has sued the private equity firm in Delaware's Court of Chancery, seeking advancement of his legal fees in connection with a fraud investigation and at least 20 civil lawsuits related to the company's business.

  • August 02, 2024

    Taxation With Representation: Sullivan, Dechert, Kirkland

    In this week's Taxation With Representation, BNP Parabis SA acquires an investment management subsidiary for €5.1 billion, Cleveland accounting firm CBIZ merges with competitor Marcum for $2.3 billion, and Arcosa Inc. inks a deal with a family-owned construction materials business for $1.2 billion.

  • August 02, 2024

    DOJ Sues TikTok For Sweeping Children's Privacy Breaches

    The U.S. Department of Justice on Friday hit TikTok and its parent company with a highly anticipated lawsuit accusing the short-form video app of engaging in "widespread" violations of children's privacy law by collecting a "wide variety" of personal information from kids under 13 without parental consent. 

  • August 02, 2024

    Off The Bench: NFL Reversal, Drone Spying, UFC Deal Tossed

    In this week's Off The Bench, a bombshell ruling wipes out a $4.7 billion antitrust verdict against the NFL, Canada takes it on the chin for Olympic drone spying, and a nine-figure settlement to address UFC wage suppression is rejected.

  • August 02, 2024

    Banking Vet Still Has Work To Do As Paul Weiss M&A Head

    After a long tenure in banking, including as Morgan Stanley's global head of mergers and acquisitions, Rob Kindler could have rested on his laurels. Instead, Kindler joined Paul Weiss as its global chair of M&A and has led the team that represented Envestnet Inc. on its July 11 deal to sell the business to Bain Capital for $4.5 billion. He spoke with Law360 about what he sees ahead.

  • August 02, 2024

    Iberdrola To Buy 88% Of UK Electric Power Co. In $5.5B Deal

    Spanish electric utility company Iberdrola said Friday it plans to buy 88% of Electricity North West in a deal that values the British electric power network at roughly €5 billion ($5.5 billion), including debt.

  • August 01, 2024

    Boar's Head Faces Putative Class Action Over Listeria Recall

    A New York woman has filed a proposed class action against Boar's Head in the midst of its widespread recall of meat and poultry products due to a potential listeria outbreak, claiming that the company failed to disclose to consumers that its products were contaminated.

  • August 01, 2024

    GPB Capital Execs Convicted Of Fraud For $1.8B Scheme

    A New York federal jury on Thursday convicted former GPB Capital executives of wire and securities fraud charges stemming from allegations they ran the private equity fund like a $1.8 billion Ponzi scheme, according to an announcement from the U.S. Department of Justice.

Expert Analysis

  • Series

    After Chevron: Slowing Down AI In Medical Research

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    The U.S. Supreme Court's recent decision overturning the Chevron doctrine may inhibit agencies' regulatory efforts, potentially slowing down the approval and implementation of artificial intelligence-driven methodologies in medical research, as well as regulators' responses to public health emergencies, say Ragini Acharya and Matthew Deutsch at Husch Blackwell.

  • What High Court TM Rulings Tell Us About Free Speech

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    Recent U.S. Supreme Court rulings show tension between free speech and trademark law, highlighting that while political mockery is protected, established brands may be forced to adapt to evolving cultural values, says William Scott Goldman at Goldman Law Group.

  • Series

    Being A Luthier Makes Me A Better Lawyer

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    When I’m not working as an appellate lawyer, I spend my spare time building guitars — a craft known as luthiery — which has helped to enhance the discipline, patience and resilience needed to write better briefs, says Rob Carty at Nichols Brar.

  • Series

    After Chevron: Uncertainty In Scope Of ITC Oversight

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    The U.S. International Trade Commission's long-standing jurisprudence on some of the most disputed and controversial issues is likely to be reshaped by the Federal Circuit, which is no longer bound by Chevron deference in the wake of the U.S. Supreme Court’s Loper Bright decision, say Kecia Reynolds and Madeleine Moss at Paul Hastings.

  • Half-Truths Vs. Omissions: Slicing Justices' Macquarie Cake

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    The U.S. Supreme Court's recent ruling in Macquarie v. Moab provides a road map for determining whether corporate reports that omit information should be considered misleading — and the court baked it into a dessert analogy that is key to understanding the guidelines, say Daniel Levy and Pavithra Kumar at Advanced Analytical Consulting Group.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

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    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

  • 3 Areas Of Enforcement Risk Facing The EV Industry

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    Companies in the EV manufacturing ecosystem are experiencing a boom in business, but with this boom comes increased regulatory and enforcement risks, from the corruption issues that have historically pervaded the extractive sector to newer risks posed by artificial intelligence, say attorneys at MoFo.

  • Preparing For Increased Scrutiny Of Tech Supply Chains

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    The U.S. Department of Commerce's recent action prohibiting sales of a Russia-based technology company's products in the U.S. is the first determination under the information technology supply chain rule, and signals plans to increase enforcement of protections that target companies in designated foreign adversary jurisdictions, say attorneys at Debevoise.

  • 2 Lessons From Calif. Overtime Wages Ruling

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    A California federal court's recent decision finding that Home Depot did not purposely dodge overtime laws sheds light on what constitutes a good faith dispute, and the extent to which employers have discretion to define employees' workdays, says Michael Luchsinger at Segal McCambridge.

  • Boeing Plea Deal Is A Mixed Bag, Providing Lessons For Cos.

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    The plea deal for conspiracy to defraud regulators that Boeing has tentatively agreed to will, on the one hand, probably help the company avoid further reputational damage, but also demonstrates to companies that deferred prosecution agreements have real teeth, and that noncompliance with DPA terms can be costly, says Edmund Vickers at Red Lion Chambers.

  • American Airlines ESG Ruling Could Alter ERISA Landscape

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    The Spence v. American Airlines ESG trial, speeding toward a conclusion in a Texas federal court, could foretell a dramatic expansion in ERISA liability, with plan sponsors vulnerable to claims that they didn't foresee short-term dips in stock prices, say attorneys at Mayer Brown.

  • How In-House IP Counsel Can Deal With AI's Rise

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    Generative artificial intelligence is poised to revolutionize intellectual property law, especially for smaller and midsize enterprises, meaning IP in-house counsel need to prioritize AI implementation to navigate the coming changes, says Friedrich Laub at Diasorin.

  • SVB Ch. 11 Shows Importance Of Filing Proof Of Claim Early

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    After a New York bankruptcy court’s recent ruling in SVB’s Chapter 11 case denied late claims filing requests related to post-bar date events, parties with potential claims against a debtor may need to seriously consider filing protective proofs of claim, says Kyle Arendsen at Squire Patton.

  • Justices' Starbucks Ruling May Limit NLRB Injunction Wins

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    The U.S. Supreme Court’s recent decision in Starbucks v. McKinney, adopting a more stringent test for National Labor Relations Board Section 10(j) injunctions, may lessen the frequency with which employers must defend against injunctions alongside parallel unfair labor practice charges, say David Pryzbylski and Colleen Schade at Barnes & Thornburg.

  • Del. Dispatch: 27.6% Stockholder Not A Controller

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    The Delaware Court of Chancery's recent decision in Sciannella v. AstraZeneca — which found that the pharma giant, a 26.7% stockholder of Viela Bio Inc., was not a controller of Viela, despite having management control — shows that overall context matters when challenging transactions on breach of fiduciary duty grounds, say attorneys at Fried Frank.

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