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Corporate
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September 10, 2024
SEC Files New Insider Case Tied To Stolen Covington Info
The U.S. Securities and Exchange Commission on Tuesday brought a new insider trading case tied to the theft of confidential merger information from a Covington & Burling LLP lawyer, suing the cousin of a former FBI trainee who was sentenced to prison for filching the Merck & Co. deal info at the heart of the case and then tipping off others.
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September 10, 2024
Fed Official Previews 'Broad' Changes To Bank Capital Plans
A top Federal Reserve official on Tuesday revealed plans to sharply revise draft bank capital rules proposed last year, including cutting in half the amount of additional capital the largest banks would have to hold while largely sparing midsize lenders from the proposed new requirements.
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September 10, 2024
42 AGs Back Call For Social Media Warning Label Law
A bipartisan group of 42 attorneys general urged Congress on Tuesday to introduce warning labels on social media platforms in a bid to tackle risks posed to young people's mental health.
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September 10, 2024
Ex-McElroy Deutsch CFO's Ch. 11 Case Nixed As 'Bad Faith'
McElroy Deutsch Mulvaney & Carpenter LLP convinced a New Jersey bankruptcy judge to throw out the Chapter 11 filing of its former chief financial officer, who is behind bars for stealing over $1 million from the firm, with the judge finding Tuesday that the petition was brought in "bad faith" to stall related state litigation.
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September 10, 2024
Cybersecurity Pro Jumps From Hogan Lovells To Goodwin
A former partner from Hogan Lovells's privacy and cybersecurity practice has joined Goodwin Procter LLP's data, privacy and cybersecurity group as a partner in New York City, the firm said Tuesday.
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September 10, 2024
John Deere Will Pay SEC $10M To End Thai Bribes Probe
Deere & Co. has agreed to pay nearly $10 million to end an investigation by the U.S. Securities and Exchange Commission into bribes paid by executives at a Thai subsidiary that netted the heavy equipment maker millions in contracts with the Thai government and at least one private company.
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September 10, 2024
UK Watchdogs Link Up To Tackle Cybersecurity Enforcement
The U.K.'s data protection watchdog said Tuesday that it has signed a new cooperation agreement with the country's top criminal investigator to help tackle cybercrime in the U.K.
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September 10, 2024
Keurig To Pay SEC $1.5M Over K-Cup Recyclability Claims
The U.S. Securities and Exchange Commission on Tuesday ordered Keurig Dr. Pepper to pay a $1.5 million penalty and refrain from filing inaccurate information in its annual reports to settle allegations that it inaccurately claimed that its K-Cup coffee and tea pods were effectively recyclable.
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September 10, 2024
Vista Delays Investor Vote On MNC Capital's $2.15B Bid
Vista Outdoor Inc. on Tuesday again pushed back a shareholder vote on the $2.15 billion sale of its sports products division to Czech defense company Czechoslovak Group AS, in light of yet another takeover bid from MNC Capital Partners LP.
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September 10, 2024
Cybersecurity Co. Beats Suit Over Med Tech Data Breach
A Massachusetts federal judge declined to hold information security technology company Barracuda Networks Inc. liable over a 2018 data breach that exposed the confidential information of more than 277,000 patients of medical device maker Zoll Medical Corp.
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September 10, 2024
McGuireWoods Adds Ex-Prosecutor, Former Fintech GC In SF
McGuireWoods LLP continues to bolster its West Coast presence, announcing Tuesday that it has added a former federal prosecutor and the former general counsel for a fintech company as partners at its San Francisco office.
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September 10, 2024
Holland & Knight Grows In DC With Ex-IDB Invest Counsel
A former lead counsel with development bank IDB Invest has joined Holland & Knight LLP in Washington, D.C., boosting the firm's financial services team and its Latin American practice.
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September 10, 2024
Nelson Mullins Adds Baker Donelson Health Pro In Houston
Nelson Mullins Riley & Scarborough LLP has continued expanding a Houston shop that opened months ago by bringing on a healthcare attorney from Baker Donelson Bearman Caldwell & Berkowitz PC whose wide-ranging practice has included representing hospitals and other providers on cybersecurity and related issues.
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September 10, 2024
Blackstone's Link Logistics Adds New GC From Realty Income
Logistics real estate company Link Logistics, a Blackstone affiliate overseeing a portfolio of more than 526 million square feet, has added a former Realty Income Corp. attorney as its new general counsel.
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September 10, 2024
Free Speech Or Bad Medicine? The Abortion 'Reversal' Battle
The marketing of abortion pill "reversal" — a treatment doubted by medical groups but touted by anti-abortion advocates — is facing increased scrutiny from state attorneys general, triggering legal skirmishes in at least four states centered on First Amendment rights and consumer protection laws.
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September 10, 2024
GM Can't Arbitrate Claims Engines Were 'Engineered To Fail'
General Motors LLC cannot arbitrate class claims that certain engines were "engineered to fail," an Ohio federal judge has ruled, citing recent Sixth Circuit guidance on when a party waives the right to resolve disputes out of court.
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September 10, 2024
EU Antritrust Chief Resists Softer Telecom Merger Rules
The European Union's outgoing competition chief pushed back at a pitch to loosen the bloc's competition rules Tuesday, saying that merger control rules for telecom markets must continue to look at competition at the national level rather than enlarging the examination to the entire 27-country bloc.
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September 10, 2024
Southwest Plans Board Shakeup Amid Activist Pressure
Southwest Airlines detailed plans Tuesday to overhaul its board of directors but stood by its chief executive, as the company faces pressure from Elliott Investment Management LP to make leadership changes.
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September 09, 2024
Exec Denied New Trial In 'Shadow Trading' Case, Fined $321K
A California federal judge on Monday denied a new trial request from an ex-Medivation Inc. executive found to have used the pharmaceutical company's inside information when he bought a rival's stock, and also ordered him to pay a $321,000 penalty in the U.S. Securities and Exchange Commission's "shadow trading" case.
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September 09, 2024
Cybersecurity Co. Founders To Pay $1.6M In SEC Fraud Suit
The co-founders of a now-bankrupt cybersecurity firm have agreed to pay nearly $1.6 million to end the U.S. Securities and Exchange Commission's claims that they used doctored financial records to convince investors to fund their company to the tune of $100 million.
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September 09, 2024
SpaceX Urges Arbitration Of Sex Harassment Suit
Attorneys for SpaceX urged a California state court judge Monday to rethink a tentative ruling that declined to send a sexual harassment claim by an employee to arbitration but found 10 other claims are arbitrable, arguing the harassment claim predates a statute requiring that it be adjudicated in court.
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September 09, 2024
Ex-Finance Exec To Pay SEC $110K In Insider Trading Action
A former finance director of pharmaceutical company Inhibrx Inc. has agreed to pay over $110,000 to resolve U.S. Securities and Exchange Commission allegations that he bought his employer's shares as it prepared to announce good news about its principal drug candidate.
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September 09, 2024
Brighthouse Hits Rival With TM Suit Over 'Shield' Mark
Annuity and life insurance provider Brighthouse Financial on Friday accused competitor American Equity Investment Life Insurance Co. of trademark infringement, claiming in a North Carolina federal court that American Equity is using Brighthouse's decade-old "shield" mark to sell similar, overlapping or nearly identical annuity products and services.
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September 09, 2024
Lindt Can't Escape Suit Over Heavy Metals In Dark Chocolate
Candymaker Lindt & Sprüngli can't escape claims that its dark chocolate contained dangerous levels of lead and cadmium, a Brooklyn federal judge has ruled, saying the consumers' claims that they paid a premium for allegedly defective products counts as an injury.
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September 09, 2024
SES, Intelsat Tell FCC They Need $3.1B Combo To Compete
Satellite companies SES and Intelsat told the Federal Communications Commission they need regulators to approve their $3.1 billion merger, which was announced this spring, so they can better compete in a quickly advancing marketplace.
Expert Analysis
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Why India May Become A Major Patent Litigation Forum
India is reinventing itself with the goal of becoming a global hot spot for patent litigation, with recent developments at the Delhi High Court creating incentives for plaintiffs to assert patent rights in India, say Ranganath Sudarshan at Covington and IP litigator Udit Sood.
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Increased IPOs In '24 Shows Importance Of Strategic Planning
Initial public offerings, debt issuances and M&A activity so far in 2024 have shown substantial increases over comparable periods in 2023, highlighting why counsel should educate clients on market trends and financing alternatives to proactively prepare them to be ready to take advantage of opportunities, say attorneys at Skadden.
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How Methods Are Evolving In Textualist Interpretations
Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.
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The State Law Landscape After Justices' Social Media Ruling
Following the U.S. Supreme Court’s recent NetChoice ruling on social media platforms’ First Amendment rights, it’s still unclear if state content moderation laws are constitutional, leaving online operators to face a patchwork of regulation, and the potential for the issue to return to the high court, say attorneys at Crowell & Moring.
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Navigating New Enforcement Scrutiny Of 'AI Washing'
The U.S. Securities and Exchange Commission's recent lawsuit against Joonko Diversity, its first public AI-focused enforcement action against a private company, underscores the importance of applying the same internal legal and compliance rigor to AI-related claims as other market-facing statements, say attorneys at Fried Frank.
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Avoiding Corporate Political Activity Pitfalls This Election Year
As Election Day approaches, corporate counsel should be mindful of the complicated rules around companies engaging in political activities, including super PAC contributions, pay-to-play prohibitions and foreign agent restrictions, say attorneys at Covington.
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Why Attorneys Should Consider Community Leadership Roles
Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.
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9 Liability Management Tips As Debt Maturity Cliff Looms
As the debt maturity cliff swiftly approaches in this challenging environment, attorneys at Winston & Strawn highlight the top considerations for boards of directors and finance professionals to think about when structuring and executing liability management transactions, including reviewing capital structure, evaluating debt covenants, and more.
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Firms Must Offer A Trifecta Of Services In Post-Chevron World
After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.
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5 Ways Life Sciences Cos. Can Manage Insider Trading Risk
In light of two high-profile insider trading jury decisions against life sciences executives this year, public companies in the sector should revise their policies to account for regulators' new and more expansive theories of liability, says Amy Walsh at Orrick.
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Series
A Day In The In-House Life: Narmi GC Talks Peak Productivity
On a work-from-home day in August, Narmi general counsel Amy Pardee chronicles a typical day in her life in which she organizes her time to tackle everything from advising on products and contract negotiations to volunteering and catching up on the New York Times crossword.
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How Cos. Can Leverage IP In Corporate Bankruptcy
In light of an increase in year-to-date Chapter 11 filings, businesses must understand the importance and value of intellectual property in corporate bankruptcy and restructuring, from contributing to enterprise value, to providing leverage in negotiations and facilitating recovery, says Gregory Campanella at Ocean Tomo.
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How Ripple Final Judgment Fits In Broader Crypto Landscape
The Southern District of New York's recent $125 million civil penalty levied in U.S. Securities and Exchange Commission v. Ripple will have a broad impact on the crypto industry as it was the first to hold that blind sales of digital assets are not securities, even if deemed securities in other circumstances, say attorneys at BakerHostetler.
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Strategies To Defend Against Healthcare Nuclear Verdicts
The healthcare industry is increasingly the target of megaclaims, particularly those alleging medical malpractice, but attorneys representing providers can use a few tools to push back on flimsy litigation and reduce the likelihood of a nuclear verdict, says LaMar Jost at Wheeler Trigg.
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5 Tips To Succeed In A Master Of Laws Program And Beyond
As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.