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Corporate
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December 16, 2024
Becton Dickinson To Pay SEC $175M Over Pump Claims
Becton Dickinson & Co. has agreed to pay $175 million to settle the U.S. Securities and Exchange Commission's allegations that the medical device manufacturer misled investors about the risks of selling its Alaris infusion pump and overstated its income, the agency announced Monday.
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December 16, 2024
UnitedHealthcare Shooting Suspect Hires Ex-NYC Prosecutor
Karen Friedman Agnifilo, a former veteran prosecutor in the Manhattan District Attorney's Office, has been retained to represent the man accused of killing the CEO of UnitedHealthcare outside a hotel in midtown Manhattan earlier this month, a spokesperson for Agnifilo's firm said Monday.
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December 16, 2024
Disney, Fox And Warner Bros. Can't Duck Fubo's Antitrust Suit
A New York federal court refused dismissal bids Friday from Disney, Fox and Warner Bros. Discovery as they tried to duck an antitrust case over their sports-only streaming service, and also denied Fox's motion to sever the claims against it and transfer the venue to the Central District of California.
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December 16, 2024
Disney To Pay $233M To End Calif. Wage Theft Case
Walt Disney Co. has agreed to shell out $233 million to end a five-year-long California state court case covering more than 51,000 workers accusing the company of failing to follow Anaheim's $15 minimum wage ordinance.
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December 16, 2024
Sony To Pay $7.8M To 4M PlayStation Gamers In Antitrust Fight
Sony Interactive Entertainment will pay $7.85 million to more than 4 million gamers to settle a proposed class action accusing the company of overcharging PlayStation Store customers via a monopoly on downloadable game cards, according to a motion for preliminary approval filed Friday in California federal court.
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December 16, 2024
Mich. Judge Troubled By Scope Of Feds' CTA Data Collection
A federal judge in Michigan said new disclosure requirements for small businesses seem burdensome and intrusive during a Monday hearing focused on the privacy implications of the currently blocked anti-money laundering law.
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December 16, 2024
Cos. Urge Judge To Maintain Injunction On Transparency Law
A Texas federal judge doesn't need to stay his preliminary injunction on the rollout of new corporate transparency rules while the U.S. government's appeal of his decision is pending at the Fifth Circuit, a business lobbying group and others said Monday.
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December 16, 2024
Albertsons Says Kroger 'Squandered' $25B Merger Bid
The Kroger Co. Inc. "willfully squandered" opportunities to complete a now-blocked $24.6 billion mega-merger with Albertsons Cos. Inc., according to an unsealed five-count lawsuit in Delaware's Court of Chancery potentially seeking billions in damages.
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December 16, 2024
SEC Wants Out Of PE Firm's 'Fishing Expedition' Suit
The U.S. Securities and Exchange Commission has asked a Texas federal judge to toss a suit brought by a real estate-focused private equity fund alleging the SEC subjected it to an unconstitutional "fishing expedition" outside its regulatory purview, arguing that sovereign immunity bars the firm's claims and that the court has no jurisdiction over the case.
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December 16, 2024
Experienced Retail Adviser Joins Hunton In DC
Hunton Andrews Kurth LLP announced Monday that a longtime vice president and senior counsel at the National Retail Federation has joined the firm's Washington, D.C., office as a public policy and government relations partner.
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December 16, 2024
Investment Pro Denies $600M 'Cherry-Picking' Fraud Charges
A California investment executive on Monday denied cheating a group of his firm's clients by assigning them poorer-performing trades, pleading not guilty before a Manhattan federal judge to what prosecutors call a $600 million criminal "cherry-picking" fraud.
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December 16, 2024
Ozy Media CEO Gets Almost 10 Years For Investor Fraud
A New York federal judge on Monday sentenced former Ozy Media CEO Carlos Watson to nearly 10 years in prison following his conviction at trial for lying to banks and investors to secure tens of millions of dollars in funding for the nascent multimedia company.
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December 16, 2024
High Court Bar's Future: Latham's Roman Martinez
Roman Martinez of Latham & Watkins LLP approaches oral arguments before the U.S. Supreme Court as if they were just another dinner with family or friends — people he's argued with since he was a kid.
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December 16, 2024
Greenberg Traurig Rehires Digital Infrastructure Atty In DC
Greenberg Traurig LLP has rehired a former attorney with the firm who is joining in Washington, D.C., to continue his practice focused on digital and electronics-related legal matters.
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December 16, 2024
Anglo American-Backed Engine Tech Co. Files Ch. 11
A developer of hybrid electric hauling equipment has filed for Chapter 11 protection in Delaware bankruptcy court with nearly $98 million in debt and an agreement with its secured lender and parent, mining company Anglo American, to pursue a sale.
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December 16, 2024
Justices Preserve Calif. Vehicle Emissions Autonomy
The U.S. Supreme Court on Monday declined to review whether the U.S. Environmental Protection Agency has the authority to allow California to set its own greenhouse gas emissions standards for vehicles, a power red states had challenged as unconstitutional.
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December 14, 2024
ABC News Agrees To Pay $16M To End Trump Defamation Suit
ABC News has agreed to pay $16 million to end Donald Trump's defamation suit over George Stephanopoulos' on-air description of rulings in favor of writer E. Jean Carroll in her sexual abuse and defamation suits against Trump, according to a settlement filed Saturday in Florida.
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December 13, 2024
OpenAI Slams Musk's 'Evidence-Free' Bid To Block For-Profit
OpenAI urged a California federal judge Friday to reject Elon Musk's bid to block the artificial intelligence research organization from transitioning into a for-profit enterprise, scoffing at Musk's assertions of anticompetitive practices and arguing that the injunctive motion is "just another evidence-free effort to harass a competitor."
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December 13, 2024
Delivery Driver Earned Too Much To Sue Under Fed. Wage Law
A delivery worker can't advance his suit claiming a Papa John's franchise violated the Fair Labor Standards act by inadequately paying for on-the-job expenses and vehicle wear and tear, with a Colorado federal judge ruling the worker lacked standing because his pay still topped the federal minimum wage.
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December 13, 2024
Real Estate Recap: New Mapping, Terrorism, What We Learned
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including a new state-by-state mapping tool for real estate practitioners, one BigLaw attorney's view of terrorism liability safeguards for commercial real estate, and takeaways from the multifamily and life sciences sectors in 2024.
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December 13, 2024
US Bank Fails To Beat RMBS Suit From Commerzbank
A New York federal judge has ruled that Commerzbank AG's suit against U.S. Bank may proceed, rejecting U.S. Bank's argument that presuit notification to certain residential mortgage-backed securities trust parties was unnecessary due to their alleged involvement in the misconduct.
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December 13, 2024
NHTSA Publishes Whistleblower Program Final Rule
The National Highway Traffic Safety Administration finalized its whistleblower program, which could award as much as 30% of monetary sanctions to a worker of an auto manufacturer who calls out bad behavior.
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December 13, 2024
SEC Sued In 9th Circ. To Move On Accredited Investor Petition
The U.S. Securities and Exchange Commission is facing a Ninth Circuit lawsuit seeking to force it to address a proposal that would change the definition of "accredited investor" so that lower and middle-income Americans can invest in the private markets.
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December 13, 2024
Del. Chancellor Positions Musk Pay Fight For Likely Appeal
Delaware's chancellor positioned for likely appeals late Friday final pieces of a landmark six-year battle over Tesla Inc.'s attempt to award CEO Elon Musk a more than $55 billion, 10-year pay package, in a trio of orders that also directed the company to pay in cash or post sufficient bond for a $345 million stockholder attorney fee.
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December 13, 2024
SEC's Corporation Finance Director Gerding To Step Down
The U.S. Securities and Exchange Commission announced Friday that the head of its Division of Corporation Finance, who oversaw the finalization of controversial new rules covering environmental disclosures and share repurchases, will leave the agency at the end of the year.
Expert Analysis
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Opinion
Antitrust Posturing Against Algorithmic AI Should End
President-elect Donald Trump needs to rein in the federal government's antitrust crusade against algorithmic AI, sending the message that antitrust enforcement must be grounded in evidence and real harm, says attorney David Balto, a former Federal Trade Commission assistant director of policy and evaluation.
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Risk Disclosure Issue Remains After Justices Nix Meta Case
After full briefing and argument, the U.S. Supreme Court recently dismissed Facebook v. Amalgamated Bank as improvidently granted, leaving courts with the tricky endeavor of determining when the failure to disclose a past event in an Item 105 risk disclosure is materially misleading, say attorneys at Lowenstein Sandler.
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Think Like A Lawyer: 1 Type Of Case Complexity Stands Out
In contrast to some cases that appear complex due to voluminous evidence or esoteric subject matter, a different kind of complexity involves tangled legal and factual questions, each with a range of possible outcomes, which require a “sliding scale” approach instead of syllogistic reasoning, says Luke Andrews at Poole Huffman.
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Netflix Dispute May Alter 'Source' In TM Fair-Use Analysis
The Ninth Circuit’s upcoming decision in Hara v. Netflix, about what it means to be source-identifying, could change how the Rogers defense protects expressive works that utilize trademarks in a creative fashion, says Sara Gold at Gold IP.
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Back To The Future? Antitrust Enforcement Under Trump 2.0
While the transition to the second Trump administration's antitrust policy should be accompanied by less uncertainty, we're unlikely to get a full sense of the true focus and tenor of competition enforcement under Trump 2.0 before late next year, say attorneys at Simpson Thacher.
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FTX Exec's Sentencing Shows Pros And Cons Of Cooperation
The sentencing of former FTX tech deputy Gary Wang, whose cooperation netted him a rare outcome of no prison time, offers critical takeaways for attorneys and clients navigating the burgeoning world of crypto-related prosecutions, says Andrew Meck at Whiteford.
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Think Like A Lawyer: Note 3 Simple Types Of Legal Complexity
Cases can appear complex for several reasons — due to the number of issues, the volume of factual and evidentiary sources, and the sophistication of those sources — but the same basic technique can help lawyers tame their arguments into a simple and persuasive message, says Luke Andrews at Poole Huffman.
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Corporate Liability Issues To Watch In High Court TM Case
The U.S. Supreme Court will hear arguments in a trademark dispute between Dewberry Group and Dewberry Engineers next week, presenting an opportunity for the court to drastically alter the fundamental approach to piercing the corporate veil, or adopt a more limited approach and preserve existing norms, say attorneys at Bracewell.
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Rethinking Clawback Policies For 2025 Compensation Season
The start of a new year presents an opportunity for companies to reassess their executive compensation clawback policies, and while mandatory Dodd-Frank clawbacks are necessary, discretionary policies can offer companies greater flexibility to address misconduct, protect their reputations and align with shareholder priorities, say attorneys at Debevoise.
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Antitrust in Retail: Handbag Ruling Won't Go Out Of Fashion
Although a New York federal court’s recent decision to enjoin a proposed $8.5 billion merger between the owners of Michael Kors and Coach applied noncontroversial antitrust interpretations, several notable aspects of the opinion stand out as likely candidates for further discussion in future merger litigation, say attorneys at Holland & Knight.
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Series
Gardening Makes Me A Better Lawyer
Beyond its practical and therapeutic benefits, gardening has bolstered important attributes that also apply to my litigation practice, including persistence, patience, grit and authenticity, says Christopher Viceconte at Gibbons.
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SEC Prioritized Enforcement Sweeps As Cases Slowed In '24
Following three consecutive years of increasing activity, fiscal year 2024 marked the lowest number of cases the U.S. Securities and Exchange Commission has brought since Gary Gensler assumed office in April 2021, buttressed by some familiar enforcement sweeps, say attorneys at Covington.
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Litigation Inspiration: Reframing Document Review
For attorneys — new ones especially — there is much fulfillment to find in document review by reflecting on how important, interesting and pleasant it can be, says Bennett Rawicki at Hilgers Graben.
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2 Cases Show DAOs May Face Increasing Legal Scrutiny
Two ongoing cases that recently survived motions to dismiss in California federal courts concerning Compound DAO and Lido DAO threaten to expand the potential liability for activity attributed to decentralized autonomous organizations — and to indirectly create liability for their participants, say attorneys at Cahill Gordon.
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The Fed. Circ. In October: Anti-Suit Injunctions And SEPs
The Federal Circuit's holding in Ericsson v. Lenovo, a complex global case involving standard-essential patents, will likely have broad consequences for practitioners, including by making it easier to obtain an anti-suit injunction, say attorneys at Knobbe Martens.