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September 19, 2024
Potomac Law Group Adds Morgan Lewis Partner
A former Morgan Lewis & Bockius LLP real estate attorney has joined Potomac Law Group, framing the move as a strategic shift out of BigLaw amid a "sluggish" transactional environment.
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September 19, 2024
NC Justice Dept. Resolves Atty's Sex, Race Bias Suit
The North Carolina Department of Justice agreed to settle a Black attorney's lawsuit alleging she was passed over for promotion in favor of a less qualified white man, according to court filings, just weeks after a federal judge refused to toss the case.
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September 19, 2024
Senate Panel Holds Steward CEO In Contempt After No-Show
A U.S. Senate committee voted unanimously Thursday to hold Steward Health Care CEO Ralph de la Torre in civil and criminal contempt after he defied a subpoena to testify about the bankrupt health system's downfall.
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September 19, 2024
Insurance Mogul Takes $166M Arbitration Loss To 4th Circ.
Convicted insurance mogul Greg Lindberg is looking to overturn a $166 million arbitral award favoring defunct Dutch life insurer Conservatrix after a North Carolina federal judge found the proceedings were conducted fairly.
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September 19, 2024
'Biblical Values' Firm To Pay $300K For Misleading Investors
The U.S. Securities and Exchange Commission on Thursday order Idaho-based investment adviser Inspire Investing LLC to pay a $300,000 fine on allegations it made misleading statements and failed to institute compliance measures related to the firm's execution of its "biblically responsible investing" strategy.
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September 19, 2024
Hormel Foods Can't Beat Retirement Fund Management Suit
Hormel Foods Corp. can't avoid a proposed class action claiming it failed to remove high-cost investment options with poor return rates from its $1.2 billion retirement plans, with a Minnesota federal judge ruling the worker leading the suit identified suitably comparable funds that performed better.
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September 19, 2024
Ex-Williams Sonoma Worker Bilked $11M In Scam, Feds Say
A former Williams Sonoma employee was indicted in California federal court over a yearslong scheme in which he allegedly defrauded the company out of $11 million after submitting fraudulent invoices for work that was never performed by a fictitious staffing business he secretly owned, the U.S. Attorney's Office announced.
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September 19, 2024
Live Nation Looks To Trim Gov't Antitrust Case
Live Nation has asked a New York federal court to toss claims seeking damages in the government's antitrust case, arguing that consumers were not harmed by its dealings with concert venues and promoters, and also asked to nix a tying claim from the case.
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September 19, 2024
Tyson Foods Hit With Greenwashing Suit For 'Net-Zero' Claim
Tyson Foods Inc. has been slapped with a complaint by the Environmental Working Group in D.C. Superior Court, accusing the country's second-largest meat company of falsely claiming it will be net-zero by 2050 and misrepresenting its industrial beef products as "climate-smart."
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September 19, 2024
Tupperware Gears Up For Lender Fight Over Ch. 11 Plans
Iconic food storage brand Tupperware received a Delaware bankruptcy judge's approval Thursday to keep its bank account systems operating as it prepares to fight off objections to most of its first-day motions next week from a group of secured lenders looking to dismiss its Chapter 11 bankruptcy and foreclose on its assets.
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September 19, 2024
Macquarie Unit To Pay $80M To End SEC's Overvaluation Claims
A subsidiary of Australian financial services company Macquarie Group Ltd. agreed Thursday to pay the U.S. Securities and Exchange Commission nearly $80 million to settle charges it overvalued largely illiquid mortgage-backed securities and carried out cross-trades that favored certain clients over others.
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September 19, 2024
Amazon, Bezos Deny Blue Origin Deal Challenges In Del.
An Amazon.com stockholder suit seeking damages from the e-commerce giant for purportedly conflicted dealing with company founder Jeff Bezos' Blue Origin space launch business can't get off the ground in Delaware's Court of Chancery, attorneys for the Amazon parties argued in a new brief filed late Wednesday.
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September 19, 2024
Quinn Emanuel Challenges Oro Negro Execs' Discovery Bid
Quinn Emanuel Urquhart & Sullivan LLP is pushing back against a bid for firm documents from its former client, Oro Negro Drilling Pte. Ltd., saying the company that provides oil services in Mexico and its subsidiaries are "weaponizing" the firm's party status to gain a tactical advantage in related legal battles.
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September 19, 2024
No Coverage For Santander Shareholder Suit, Allianz Says
Allianz told a Massachusetts federal court that it doesn't owe coverage to Santander Holdings for an underlying class action brought by shareholders over the company's $2.5 billion deal to take its consumer finance entity private, arguing that multiple exclusions bar coverage for claims arising from the transaction.
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September 19, 2024
AT&T Exec's Bribery Trial Ends With Hung Jury
An Illinois federal judge declared a mistrial in a key corruption case after jurors told him twice Thursday they could not reach a unanimous verdict on any of the charges against an AT&T executive accused of illegally influencing former Illinois House speaker Michael Madigan.
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September 19, 2024
Pro Volleyball League's Founders Claim Buyers Shorted Them
The co-founders of the Pro Volleyball Federation, a women's professional volleyball league, are seeking at least $500,000 in damages in a new suit that alleges they haven't been paid by several team owners in the league who formed an entity to buy the co-founders' Class A shares of the federation for $1 million.
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September 19, 2024
Pink Floyd, NFL And PE Take Limelight In Latest Deal Rumors
Sony Music could be on the verge of paying roughly $500 million for the rights to music recorded by Pink Floyd, and NFL teams including the Miami Dolphins and Los Angeles Chargers are exploring options to sell stakes to private equity firms. Here, Law360 breaks down these and other notable deal rumors from the past week.
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September 19, 2024
Nine Countries Sign Treaty For OECD Min. Tax On Payments
Indonesia, Turkey, Congo and six other countries signed a multilateral treaty aimed at implementing a 9% minimum tax on income sent from their jurisdictions to low-taxed entities within a corporate group, the OECD said Thursday.
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September 19, 2024
Apple Ruling Prompts EU Lawmakers To Call For Tax Justice
Citing the recent European court judgment requiring Apple to pay €13 billion ($14.5 billion) in taxes to Ireland, European Union lawmakers demanded Thursday that the fight against tax evasion and for corporate tax harmonization be stepped up.
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September 19, 2024
Insurers Wrestle With 'Cyberwar' Policy Exclusions
The evolving cyberinsurance market could be heading for a seismic shift if more insurers scale back standard business IT breach policies to limit the impact of state-backed cyberattacks on their bottom line.
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September 18, 2024
Google Judge Wonders: Does Ad Tech Benefit Publishers?
The Virginia federal judge weighing the fate of Google's display advertising placement business zeroed in Wednesday on a key aspect of the search giant's defense against a Justice Department monopolization suit — the assertion that even if company practices disadvantaged rival ad exchanges, they benefited publishers.
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September 18, 2024
AI Musician Denies Purported $10M Streaming Scam
A North Carolina man facing a novel fraud case alleging he used artificial intelligence on platforms like Apple Music, Spotify and YouTube to generate around $10 million in illegal revenues denied wrongdoing at his initial court appearance Wednesday in New York.
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September 18, 2024
CVS Unit Pays $60M Over Alleged Insurance Kickback Scheme
CVS Health subsidiary Oak Street will pay $60 million to settle allegations it violated the False Claims Act by paying illegal kickbacks to third-party insurers in return for scouting and inducing Medicare and Medicaid beneficiaries to enroll in its primary care clinics, the U.S. Department of Justice announced Wednesday.
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September 18, 2024
7th Circ. Questions Nixing $183M Eli Lilly Drug Rebate Verdict
A Seventh Circuit judge seemed unsure Wednesday whether to disturb a $183 million verdict against Eli Lilly in a false claims case targeting more than a decade of drug rebate miscalculations, questioning whether the company skipped checking legal guidance before calling its price reporting requirements unclear.
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September 18, 2024
FBI Dismantles Chinese Botnet, Urges Victims To Seek Aid
FBI Director Christopher Wray announced Wednesday that the law enforcement agency has knocked out a botnet operated by a Chinese government-sponsored hacker group that was stealing confidential data by infecting internet-connected devices.
Expert Analysis
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Boeing Plea Deal Is A Mixed Bag, Providing Lessons For Cos.
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.
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American Airlines ESG Ruling Could Alter ERISA Landscape
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.
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How In-House IP Counsel Can Deal With AI's Rise
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.
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SVB Ch. 11 Shows Importance Of Filing Proof Of Claim Early
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.
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Justices' Starbucks Ruling May Limit NLRB Injunction Wins
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.
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Del. Dispatch: 27.6% Stockholder Not A Controller
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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Takeaways From EU's Initial Findings On Apple's App Store
A deep dive into the European Commission's recent preliminary findings that Apple's App Store rules are in breach of the Digital Markets Act reveal that enforcement of the EU's Big Tech law might go beyond the literal text of the regulation and more toward the spirit of compliance, say William Dolan and Pratik Agarwal at Rule Garza.
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25 Years Of OECD's Anti-Bribery Convention
Marking its 25th anniversary this year, the Organization for Economic Cooperation and Development's anti-bribery convention has advanced legislative reforms and reshaped corporate conduct in dozens of countries amid the persistent challenges of uneven enforcement and political pressure, say attorneys at Debevoise.
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Cyber Incident Response Checklist For SEC Compliance
In light of recent guidance from the U.S. Securities and Exchange Commission, which clarified the distinction between two types of cybersecurity incident disclosures, companies should align their materiality assessment, incident response and disclosure control processes to bolster compliance and provide a measure of protection, say attorneys at Troutman Pepper.
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Series
After Chevron: Bid Protest Litigation Will Hold Steady For Now
Though the substantive holding of Loper Bright is unlikely to affect bid protests because questions of statutory interpretation are rare, the spirit of the U.S. Supreme Court's decision may signal a general trend away from agency deference even on the complex technical issues that often arise, say Kayleigh Scalzo and Andrew Guy at Covington.
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Dueling Calif. Rulings Offer Insight On 401(k) Forfeiture Suits
Two recent decisions from California federal courts regarding novel Employee Retirement Income Security Act claims around 401(k) forfeitures provide early tea leaves for companies that may face similar litigation, offering reasons for both optimism and concern over the future direction of the law, say Ashley Johnson and Jennafer Tryck at Gibson Dunn.
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1 Year At The UPC: Implications For Transatlantic Disputes
In its first year, the Unified Patent Court has issued important decisions on procedures like provisional measures, but complexities remain when it comes to coordinating proceedings across jurisdictions like the U.S. due to differences in timelines and discovery practices, say attorneys at McDermott.
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Opinion
H-2 Visas Offer Humane, Economic Solution To Border Crisis
Congress should leverage the H-2 agricultural and temporary worker visa programs to match qualified migrants with employers facing shortages of workers — a nonpolitical solution to a highly divisive humanitarian issue, say Ashley Dees and Jeffrey Joseph at BAL.
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PAGA Reforms Encourage Proactive Employer Compliance
Recently enacted reforms to California's Private Attorneys General Act should make litigation under the law less burdensome for employers, presenting a valuable opportunity to streamline compliance and reduce litigation risks by proactively addressing many of the issues that have historically attracted PAGA claims, say attorneys at Mintz.
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Opinion
Now More Than Ever, Lawyers Must Exhibit Professionalism
As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.