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Corporate
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December 13, 2024
J&J Unit Deemed Family Duties A 'Distraction,' Suit Says
A prosthetics company owned by Johnson & Johnson said an employee returning from parental leave had "distractions outside of work" as it gave him negative performance reviews before firing him, according to a suit filed in Massachusetts federal court Friday.
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December 13, 2024
ByteDance Ex-Coder Perjured Himself In Suit, Judge Finds
A California federal judge imposed terminating sanctions against a former engineer at TikTok's parent company, finding he committed perjury in a suit alleging he was wrongly fired and ordered the dispute to arbitration.
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December 13, 2024
GC Cheat Sheet: The Hottest Corporate News Of The Week
Albertsons and its general counsel claim Kroger did not try hard enough to keep their proposed merger from being blocked by the courts, and a new survey says tight budgets are forcing in-house counsel to increasingly turn to artificial intelligence tools for help.
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December 13, 2024
Calif.'s 1st-Ever Willful Heat Penalty Issued To Landscaper
The California Division of Occupational Safety and Health has levied its first-ever willful heat violation penalty against a landscaping and maintenance business for failing to provide workers with access to water when the temperature exceeded 95 degrees Fahrenheit, two years after it cited the company for similar heat-related safety violations.
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December 13, 2024
Mass. Cannabis Biz Gets Receiver Amid $10M In Debt
A Massachusetts judge on Friday agreed to appoint a receiver to oversee either a sale or liquidation of cannabis grower and retailer Revolutionary Clinics, which owes nearly $10 million to its primary lender and thousands more to landlords and other creditors.
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December 13, 2024
Justices To Decide If Industry Can Test Calif. Auto Waiver
The U.S. Supreme Court on Friday granted fossil fuel industry groups' request to review a decision backing the U.S. Environmental Protection Agency's Clean Air Act waiver that allows California to set its own greenhouse gas emissions standards for vehicles and run a zero-emission vehicles program, but the justices won't consider the legality of the waiver itself.
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December 13, 2024
Trump Rips DA's 'Dark Dream' To Legally Treat Him As Dead
Donald Trump's attorneys Friday slammed a proposal by the Manhattan district attorney to preserve the president-elect's hush money conviction by treating him like a defendant who dies after a verdict, pushing the judge to dismiss the case altogether.
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December 13, 2024
UnitedHealth To Pay $69M In Suit Over 401(k) Fund Roster
UnitedHealth Group has agreed to pay $69 million to settle a class action claiming it included low-performing investment options in its 401(k) plan to preserve its business relationship with Wells Fargo, according to a filing Friday in Minnesota federal court.
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December 13, 2024
McKinsey To Pay $650M For Work With Opioid Maker Purdue
Consulting giant McKinsey & Co. will pay $650 million to resolve charges related to its work helping Purdue Pharma market and boost sales of OxyContin, federal prosecutors announced Friday.
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December 12, 2024
North Koreans Infiltrated US IT Jobs In $88M Scheme, Feds Say
Fourteen North Koreans have been indicted in Missouri federal court on charges related to a long-running scheme to obtain remote information technology jobs at U.S. companies and nonprofit organizations, raking in at least $88 million for the regime, the U.S. Department of Justice announced Thursday.
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December 12, 2024
WGA Urges Major Studios To Take Legal Action Over AI 'Theft'
The Writers Guild of America on Wednesday called on several major entertainment studios to swiftly take legal action against technology companies they assert are stealing writers' works to train artificial intelligence systems and making billions of dollars from the "wholesale theft."
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December 12, 2024
Cantor Fitzgerald To Pay SEC $6.75M Over SPAC Disclosures
Cantor Fitzgerald on Thursday agreed to pay a $6.75 million penalty to the U.S. Securities and Exchange Commission to resolve claims that it caused two special purpose acquisition companies that it controls to make misleading statements to investors ahead of the SPACs' initial public offerings.
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December 12, 2024
Vidal Reflects On USPTO Achievements As She Leaves Office
Kathi Vidal will serve her last day as U.S. Patent and Trademark Office director on Friday and rejoin her former firm, Winston & Strawn LLP, on Monday. She talked to Law360 as she prepared her exit from the agency, with internal changes top of mind as she looked back on her tenure.
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December 12, 2024
Align Tech's $27.5M Antitrust Deal Hits Nerve With Judge
A California federal judge said Thursday that a proposed $27.5 million deal for teeth-aligner buyers to resolve antitrust claims alleging Align Technologies Inc. colluded with the now-bankrupt SmileDirectClub to illegally restrict competition might be "inherently improper" due to a coupon component that "would bring additional business to the monopolist."
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December 12, 2024
Keller Postman Sues Jenner & Block In Escalating Tubi Fight
Keller Postman LLC added a new front Wednesday to its heated legal fight with Jenner & Block LLP, filing a California state court lawsuit accusing the BigLaw firm of employing a host of unethical tactics to gain leverage in mass arbitration against the streaming service Tubi.
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December 12, 2024
DOJ Seizes Rydox Cybercrime Site, Charges Administrators
A Pennsylvania federal judge on Thursday unsealed an indictment charging two Kosovo citizens who ran the illicit website Rydox with multiple criminal counts after the U.S. government seized the website, which has been used by cybercriminals to buy and sell thousands of Americans' personal information and dating profiles.
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December 12, 2024
SEC Will Be GOP-Only Without Crenshaw's Vote, Groups Warn
More than 40 organizations sent a collective letter to U.S. senators in support of Democrat Caroline Crenshaw's reconfirmation to the U.S. Securities and Exchange Commission on Thursday, a day after Senate Republicans blocked a closed-door vote on her nomination.
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December 12, 2024
Ch. 7 Trustee Must Explain $200M Holdback Bid, Court Told
The owner of two bankrupt real estate companies has asked a Connecticut state court for permission to question the Chapter 7 trustee who wants a $200 million placeholder in connection with a shareholder's derivative claims, arguing the trustee must detail his allegations of the owner diverting millions to other business interests.
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December 12, 2024
Texas AG Targets Instagram, Reddit Over Youth Data Security
Texas Attorney General Ken Paxton announced Thursday that his office is looking into minors' privacy and safety policies of more than a dozen tech companies, including Character.AI, Reddit and Instagram, as part of his long-running campaign to stop companies from selling minors' personal information without permission from their parents.
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December 12, 2024
AT&T Exec Can't Get Bribery Acquittal After Jury Deadlocks
An Illinois federal judge on Thursday denied a former AT&T executive's bid for acquittal on charges he bribed ex-Illinois House Speaker Michael Madigan after his case resulted in a hung jury earlier this year, saying the government presented sufficient evidence of a quid pro quo.
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December 12, 2024
DC Circ. Leans Toward BofA In Pandemic Market Loss Bout
The D.C. Circuit is set to decide whether Bank of America had a duty to try harder to stop one of its clients from dumping his investments when the market tanked at the beginning of the COVID-19 pandemic, but at arguments Thursday morning, the panel did not seem to think so.
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December 12, 2024
TD Bank Sued Over AML Controls After Ex-Employee's Arrest
Toronto-Dominion Bank and its top brass concealed and downplayed issues with the bank's anti-money laundering controls, according to a class action filed one day after a former employee was arrested and charged with assisting in a money laundering scheme that sent millions of dollars in narcotics proceeds from the U.S. to Colombia.
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December 12, 2024
Amazon Can't Nix Class, Collective Claims In Pay Bias Suit
A Washington federal judge on Thursday said Amazon cannot throw out proposed class and collective claims that it systematically paid women less than their male counterparts, saying the case is not "so hopeless" that certification is impossible down the road.
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December 12, 2024
IRS Chief Makes Case To Restore $20B Funding Shortfall
Congress should reverse a $20 billion IRS funding gap in a year-end budget bill to help the agency modernize its technology, improve customer service and collect unpaid taxes from wealthy businesses and individuals, Internal Revenue Commissioner Daniel Werfel said Thursday.
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December 12, 2024
Mobile Trade Group's CEO To Leave Organization Next Year
The president and CEO of mobile industry lobbying group CTIA will leave the organization when her contract expires next year, the group said Thursday.
Expert Analysis
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To Report Or Not To Report Others' Export Control Violations
A recent Bureau of Industry and Security enforcement policy change grants cooperation credit to those that report violations of the Export Administration Regulations committed by others, but the benefits of doing so must be weighed against significant drawbacks, including the costs of preparing and submitting a report, says Megan Lew at Cravath.
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With Esmark Case, SEC Returns Focus To Tender Offer Rules
The U.S. Securities and Exchange Commission's recent enforcement action against Esmark in connection with its failed bid to acquire U.S. Steel indicates the SEC's renewed attention under Rule 14e‑8 of the Exchange Act on offerors' financial resources as a measure of the veracity of their tender offer communications, say attorneys at MoFo.
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What FDIC Expansion Of Change In Bank Control Could Mean
A recent Federal Deposit Insurance Corp. proposal pertaining to the Change in Bank Control Act has the potential to create uncertainty around investments by mutual fund complexes in banking organizations, which represent a stable source of capital for the banking industry, say attorneys at Sullivan & Cromwell.
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HSR Amendments Intensify Merger Filing Burdens, Data Risk
The antitrust agencies' long-awaited changes to premerger notification rules under the Hart-Scott-Rodino Act stand to significantly increase the time and cost involved in preparing an initial HSR notification, and will require more proactive attention to data issues, says Andrew Szwez at FTI Technology.
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What's Inside Feds' Latest Bank Merger Review Proposals
Recent bank merger proposals from a trio of federal agencies highlight the need for banks looking to grow through acquisition to consider several key issues much earlier in the planning process than has historically been necessary, say attorneys at Simpson Thacher.
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State Of The States' AI Legal Ethics Landscape
Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.
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Cos. Should Focus On State AI Laws Despite New DOL Site
Because a new U.S. Department of Labor-sponsored website about the disability discrimination risks of AI hiring tools mostly echoes old guidance, employers should focus on complying with the state and local AI workplace laws springing up where Congress and federal regulators have yet to act, say attorneys at Littler.
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How Biden Admin Has Used Antitrust Tools, And What's Next
The last four years have been marked by an aggressive whole-of-government approach to antitrust enforcement using a broad range of tools, and may result in lasting change regardless of the upcoming presidential election result, say attorneys at Norton Rose.
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Cos. Face Increasing Risk From Environmental Citizen Suits
Environmental citizen suits stepping in to fill the regulatory vacuum concerning consumer goods waste may soon become more common, and the evolving procedural landscape and changes to environmental law may contribute to companies' increased exposure, say J. Michael Showalter and Bradley Rochlen at ArentFox Schiff.
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How BIS' Rule Seeks To Encourage More Voluntary Disclosure
Updated incentives, penalties and enforcement resources in the Bureau of Industry and Security's recently published final rule revising the Export Administration Regulations should help companies decide how to implement export control compliance programs and whether to disclose possible violations, say attorneys at Freshfields.
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Making Sure Your Co. Isn't In The Next Section 13(f) Sweep
Enforcement actions taken against 11 institutional investment managers for alleged failures to file forms required by Section 13(f) of the Securities Exchange Act serve as a reminder that firms should carefully monitor their obligations to avoid becoming the target of the next enforcement sweep, say attorneys at Ropes & Gray.
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Series
Florida Banking Brief: All The Notable Legal Updates In Q3
With the implementation of H.B. 989, the third quarter of 2024 has been transformative for banking law and regulation in Florida, and this new law places a strong emphasis on fair access to banking, and prohibits ideologically or politically motivated decisions by financial institutions, says Sha’Ron James at Gunster.
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11th Circ. Kickback Ruling May Widen Hearsay Exception
In a $400 million fraud case, U.S. v. Holland, the Eleventh Circuit recently held that a conspiracy need not have an unlawful object to introduce co-conspirator statements under federal evidence rules, potentially broadening the application of the so-called co-conspirator hearsay exception, say attorneys at ArentFox Schiff.
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8 Childhood Lessons That Can Help You Be A Better Attorney
A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.
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Navigating Complex Regulatory Terrain Amid State AG Races
This year's 10 attorney general elections could usher in a wave of new enforcement priorities and regulatory uncertainty, but companies can stay ahead of the shifts by building strong relationships with AG offices, participating in industry coalitions and more, say Ketan Bhirud and Dustin McDaniel at Cozen O’Connor.