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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.
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August 26, 2024
SEC Inks $946K Settlement In Unregistered Broker Case
A trust and its co-owners have agreed to pay the U.S. Securities and Exchange Commission civil penalties totaling $946,000 to resolve allegations they operated as unregistered broker-dealers when helping to facilitate more than $1.2 billion in securities transactions by penny stock issuers.
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August 26, 2024
Samsung Urges Toss Of Netlist Contract Win Over Juror's Lies
Samsung urged a California federal judge Monday to throw out a jury's verdict that it breached a contract with chipmaker Netlist by cutting off its supply of crucial memory products, arguing a new trial is required because one juror failed to disclose crucial information during the jury selection process.
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August 26, 2024
SEC Fines Sound Point $1.8M Over Nonpublic Info Oversight
The U.S. Securities and Exchange Commission announced Monday that private fund adviser Sound Point Capital Management LP will pay $1.8 million to settle charges that it failed to prevent the misuse of nonpublic information in certain collateralized loan trades.
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August 26, 2024
Zillow Investors Gain Class Cert. In Suit Over Home-Flipping
A Washington federal judge has certified a proposed class of investors suing Zillow, alleging they were misled about the performance of the real estate marketplace's home-flipping program, and has appointed two firms as lead and local counsel.
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August 26, 2024
'Jarkesy 2.0': SEC Sees New Attack On In-House Courts
A new lawsuit calling into question the U.S. Securities and Exchange Commission's ability to boot alleged lawbreakers from the securities industry follows a long line of attacks on the regulator's use of its in-house courts, including a recent U.S. Supreme Court ruling that limited the SEC's ability to litigate fraud cases via administrative proceedings.
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August 26, 2024
Care.com To Pay $8.5M To Settle FTC's Deception Claims
Caregiver job website Care.com has agreed to shell out $8.5 million in refunds to put to rest allegations it misled caregivers about wages and job availability and also made it difficult for families to cancel paid memberships, the U.S. Federal Trade Commission announced Monday.
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August 26, 2024
BNY To Pay $5M CFTC Fine Over Swap Reporting Issues
The Commodity Futures Trading Commission and the Bank of New York Mellon reached a $5 million deal on Monday to resolve claims that the bank repeatedly failed to correctly report millions of swap transactions to a registered swap data repository and failed to properly supervise its swap dealer business.
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August 26, 2024
EV Maker Contests Del. Bid To Stall Stock Drop Suit In Calif.
Counsel for electric-vehicle manufacturer Mullen, which is now tangled in a derivative lawsuit seeking damages in Delaware's Chancery Court, have pointed the court to a proposed $7.25 million settlement in an earlier-filed derivative case in California federal court to support the company's bid to stay the Delaware action.
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August 26, 2024
Former Google Execs Fight Ad Tech Trial Subpoenas
Former Google vice presidents and other company managers have filed a series of motions asking a Virginia federal judge to block U.S. Department of Justice subpoenas trying to force their testimony at next month's advertising technology monopolization trial, arguing their live participation is unneeded and improperly demanded.
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August 26, 2024
CFPB Defeats Challenge To Small-Biz Lending Rules
The Consumer Financial Protection Bureau landed an early win Monday in an industry-backed challenge to its reporting requirements for small business lenders, with a Texas federal judge finding the rule "is much more modest than plaintiffs would lead the court to believe."
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August 26, 2024
Biotech Investor Sues In Chancery Over Alleged IP Diversions
A private equity investor in biotech Vividion Therapeutics Inc., recently acquired by Bayer Corp. for up to $2 billion, sued the company's co-founder and others in Delaware's Court of Chancery on Monday, accusing them of secretly diverting to another company intellectual property worth "hundreds of millions, if not billions."
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August 26, 2024
Semiconductor Co. Overstated Recovery, Investors Say
Semiconductor manufacturer STMicroelectronics did not have the visibility it claimed to have to predict future growth in its core segments, leading it to make several false representations to shareholders, according to two investor suits filed in New York federal court.
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August 26, 2024
Bank Co. Disputes AIG's Reading Of Covered Defense Costs
A bank owner defended its amended claims that an AIG unit violated the Texas Insurance Code, telling a Texas federal court that AIG unlawfully issued it late defense payments and refused to cover defense costs that "incidentally" benefited its affirmative underlying claims.
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August 26, 2024
4th Circ. Won't Free Insurance Mogul From $524M Judgment
Convicted insurance mogul Greg Lindberg was dealt a blow by the Fourth Circuit on Monday when the court found that he was liable for a $524 million arbitration award stemming from a fight over a reinsurance agreement with an insurer.
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August 26, 2024
Former X Worker Seeks Class Certification In Bonus Suit
A former X Corp. employee asked a California federal court to greenlight an approximately 2,200-member class in his lawsuit alleging the company reneged on promised bonuses after Elon Musk took over the social media company formerly known as Twitter.
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August 26, 2024
Papa John's Workers In BIPA Class Can 'Fly Solo,' Judge Says
An Illinois federal judge trimmed a lawsuit Friday filed by two former Papa John's workers who claim the chain violated the state's biometric privacy law, but refused to dismiss it as duplicative of a putative class action raising similar claims, saying the plaintiffs have every right to "grab the litigation wheel."
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August 26, 2024
Texas Biz Court: Getting To Know The Lone Star State's New Bench
Judges of Texas' new statewide business court will gavel in on Sept. 1, when they will begin hearing certain complex business disputes in which the amount in controversy exceeds $5 million. Here, catch up with Law360's coverage of the Lone Star State's newest courts.
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August 26, 2024
Judge Declines To Enhance $45M Doorbell Video IP Verdict
A Texas federal judge said Monday that Vivint Inc. need only pay the $45.4 million a jury said it owes video doorbell maker SB IP Holdings LLC for infringing its audiovisual patents along with pre- and post-judgment interest, declining to enhance the award at the patent holder's request.
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August 26, 2024
In-House Vet Joins Honigman's Corporate Team In Chicago
Honigman announced Monday it added a longtime in-house attorney, who has worked for companies such as Collins Aerospace and Bridgestone, to the law firm's Chicago office as a partner in its transactions and counseling practice.
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August 26, 2024
Cadwalader Fears Unsealing Financial Info May Harm Firm
Cadwalader Wickersham & Taft LLP has argued in North Carolina Business Court that unsealing financial details related to a November 2022 data breach and its insurance policy with a Lloyd's of London syndicate would put the firm at further risk from competitors and bad actors.
Expert Analysis
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SolarWinds Ruling Offers Cyber Incident Response Takeaways
The New York federal court's dismissal of all charges related to the 2019 Sunburst cyberattack is a devastating blow to the U.S. Securities and Exchange Commission's cybersecurity case against SolarWinds, but the well-reasoned opinion provides valuable lessons that may improve companies' defensive posture in the wake of a major cybersecurity incident, say attorneys at Troutman Pepper.
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Series
After Chevron: Delegation Of Authority And Tax Regulators
The U.S. Department of the Treasury and the Internal Revenue Service will face higher standards following Loper Bright’s finding that courts should determine whether agency rules meet the best possible interpretation of the tax code, as well as the scope of the authority delegated by Congress, says Edward Froelich at McDermott.
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3 Ways To Lower Insider Trading Risk After First 10b5-1 Case
In light of the U.S. Department of Justice's insider trading prosecution against the former CEO of Ontrack based on alleged abuse of a Rule 10b5-1 safe harbor plan — designed to allow executives to sell their companies' securities without liability — companies and individuals should take steps to avoid enacting similar plans in bad faith, say attorneys at Jenner & Block.
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Lawyers Can Take Action To Honor The Voting Rights Act
As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.
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Series
After Chevron: What Loper Bright Portends For The NLRB
While the U.S. Supreme Court has a long history of deferring to the National Labor Relations Board's readings of federal labor law, the court's Loper Bright v. Raimondo decision forces courts to take a harder look at the judgment of an agency — and the NLRB will not be immune from such greater scrutiny, says Irving Geslewitz at Much Shelist.
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PE Firms Should Prepare For Increased False Claims Scrutiny
The impact private equity firms may have over medical decisions and care is increasingly attracting potential liability under the False Claims Act and attention from states and the federal government, so investors should follow best practices including conducting due diligence both before and after acquisitions, say attorneys at K&L Gates.
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Proposed NIL Deal Leaves NCAA Antitrust Liability Door Open
The proposed House v. NCAA settlement filed in California federal court creates the possibility of significant direct payments to student-athletes for the first time, but the resulting framework is unlikely to withstand future antitrust scrutiny because it still represents an agreement among competitors to limit labor cost, says Yaman Desai at Lynn Pinker.
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Series
A Day In The In-House Life: Block CLO Talks Problem-Solving
Amid the busy summer months, Block Inc. Chief Legal Officer Chrysty Esperanza chronicles a typical Wednesday where she conquered everything from unexpected fintech regulatory issues and team building to Bay Area commutes and school drop-off.
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Series
After Chevron: ERISA Challenges To Watch
The end of Chevron deference makes the outcome of Employee Retirement Income Security Act regulatory challenges more uncertain as courts become final arbiters of pending lawsuits about ESG investments, the definition of a fiduciary, unallocated pension forfeitures and discrimination in healthcare plans, says Evelyn Haralampu at Burns & Levinson.
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Analyzing Advance Notice Bylaws On 'Clear' Or 'Cloudy' Days
In Kellner v. AIM ImmunoTech, the Delaware Supreme Court recently clarified the framework for judicial review of advance notice bylaws adopted, amended or enforced on "clear" or "cloudy" days, underscoring the responsibility of boards to ensure that their scope does not overreach or prevent the possibility of a contested election, say attorneys at Venable.
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Navigating Antitrust Considerations In ESG Collaborations
The intersection of ESG goals and antitrust laws presents a complex challenge for businesses and their counsel — but by creating clear frameworks for collaboration, adhering to established guidelines and carefully considering the competitive implications of their actions, companies can work toward sustainability while mitigating legal risks, say attorneys at Morgan Lewis.
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Justices' Intent Witness Ruling May Be Useful For Defense Bar
At first glance, the U.S. Supreme Court’s recent Diaz v. U.S. decision, allowing experts to testify to the mental state of criminal defendants in federal court, gives prosecutors a new tool, but creative white collar defense counsel may be able to use the same tool to their own advantage, say Jack Sharman and Rachel Bragg at Lightfoot Franklin.
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How To Grow Marketing, Biz Dev Teams In A Tight Market
Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.
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Jarkesy's Impact On SEC Enforcement Will Be Modest
Though the U.S. Supreme Court’s recent U.S. Securities and Exchange Commission v. Jarkesy decision found that fraud defendants have a constitutional right to a jury trial, the ruling will have muted impact on the agency’s enforcement because it’s already bringing most of its cases in federal court, say Jeremiah Williams and Alyssa Fixsen at Ropes & Gray.
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Opinion
Data Breach Reporting Requirements Must Change In AI Age
Outdated data breach reporting laws are inadequate to protect consumers in the age of artificial intelligence, as AI’s ability to determine relationships coupled with its improvements to deepfake technology mean that the very definitions used in breach reporting laws are no longer sufficient, says Collin Walke at Hall Estill.