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Corporate
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April 09, 2025
Ex-Mars Executive Faces Forfeiture Bid In $28M Fraud Case
The U.S. Department of Justice wants the former global price risk manager of a subsidiary of candy maker Mars Inc. to forfeit a Connecticut home plus accounts at three financial firms to help offset $28 million in alleged fraud proceeds.
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April 09, 2025
Ex-Qualcomm Executive Convicted Of $180M Fraud
A federal jury in San Diego has found a former executive at Qualcomm guilty of defrauding the chipmaker by creating a fake company, concealing his connection to it and selling it to Qualcomm for $180 million.
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April 08, 2025
Jazz Agrees To Pay $145M To Settle Xyrem Antitrust Fight
Jazz Pharmaceuticals has agreed to pay $145 million to resolve antitrust litigation accusing it of working with its rival Hikma Pharmaceuticals to stave off generic competitors to Jazz's narcolepsy drug Xyrem, the Ireland-based pharmaceutical company revealed Tuesday.
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April 08, 2025
Ex-Outcome CEO, Co-Founder Challenge $1B Fraud Convictions
Outcome Health's former CEO and co-founder are challenging their convictions for lying about the company's capabilities and value in a $1 billion fraud, arguing a legally deficient fraud theory, unfair narrative evidence and the government's admitted pre-trial asset over-restraint warrant unwinding the jury's verdict.
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April 08, 2025
4th Circ. Affirms Dismissal Of IonQ Shareholder Fraud Suit
The Fourth Circuit on Tuesday declined to revive a shareholder class action against quantum computer developer IonQ, holding that the plaintiffs' reliance on a short seller's report didn't clear the "high bar" for bringing their securities fraud claims against the company.
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April 08, 2025
Crypto Investor Sues In Del. Alleging $16M Pump, Dump Loss
Cayman Islands-registered cryptocurrency venture Hash Asset Management Ltd. sued two other crypto entities and four individuals in Delaware's Court of Chancery on Tuesday, alleging a "pump and dump" scheme that saw more than $16 million allegedly siphoned away in violation of token deposit and lending agreements.
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April 08, 2025
5th Circ. Orders New Trial In $140M Healthcare Fraud Case
A Fifth Circuit panel shot down a bid from a suspect in a $140 million healthcare fraud scheme to forestall a second trial after alleged prosecutorial misconduct sank the first, finding the government hadn't intentionally withheld evidence.
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April 08, 2025
Ex-Google Engineer Unlikely To Beat AI Trade Secrets Charges
A California federal judge indicated Tuesday that he's unlikely to toss economic espionage charges against an ex-Google engineer accused of stealing artificial intelligence trade secrets to benefit startups in China, but said he "can't shake the feeling" that prosecutors wouldn't have brought the case if it involved a different country.
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April 08, 2025
Expert And 'Worthlessness Theory' Ejected In Valsartan MDL
Patients and insurers who claim they were ripped off when purchasing the contaminated blood pressure medication Valsartan won't be able to argue that the drug was worthless as a matter of law, a New Jersey federal judge overseeing the multidistrict litigation has ruled, casting doubt that the plaintiffs will secure a full refund for their purchase.
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April 08, 2025
Attys In Javice Case Warned About Post-Trial Juror Contact
A Manhattan federal judge on Monday cautioned attorneys in the criminal case against Frank founder Charlie Javice to adhere to the rules governing post-trial contact with jurors who convicted her and another executive on fraud and conspiracy charges stemming from JPMorgan Chase & Co.'s ill-fated acquisition of the educational startup.
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April 08, 2025
Feds Sue Wash. Company Over Barge's $1M Oil Spill Cleanup
The U.S. Department of Justice and the U.S. Coast Guard have sued a Washington state barge owner for allegedly violating federal laws related to an oil spill that the government said cost more than $1 million in salvage and remediation costs.
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April 08, 2025
Nokia Says Hisense TVs Rip Off Its Video Tech
Chinese consumer technology firm Hisense was slapped with a patent infringement lawsuit from Nokia Technologies, alleging it sold millions of products that infringe Nokia's video processing innovations while refusing to negotiate a standard licensing agreement.
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April 08, 2025
Compliance Chief Wants Out Of SEC Fraud Suit
The chief compliance officer and general counsel of a wealth management firm has urged an Illinois federal judge to dismiss him from a U.S. Securities and Exchange Commission suit over an alleged offering fraud by former representatives at his firm, saying "the commission does not even understand what its own pleading burden in this case is."
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April 08, 2025
Starbucks Tears Into Missouri AG's 'Defective' DEI Lawsuit
Starbucks urged a Missouri federal judge to toss a suit from the state's attorney general claiming the company employs diversity quotas that discriminate against white and male applicants, arguing the state hasn't presented any evidence that its diversity, equity and inclusion policies have negatively affected Missourians.
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April 08, 2025
UnitedHealth Puts Anesthesiologists' Antitrust Suit To Sleep
A New York federal judge tossed an antitrust lawsuit accusing a United Healthcare unit of using its market power in the New York metropolitan area to cut reimbursement rates to anesthesia providers by 80% in its public-sector employee health plan, while enlisting MultiPlan to pressure providers into accepting the rates.
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April 08, 2025
MSP Recovery Sued For Docs In Del. After $33B SPAC Dispute
A stockholder of healthcare data analytics company MSP Recovery has demanded the company turn over books and records over allegations that it admitted to financial difficulties and federal investigations shortly after finalizing a $32.5 billion blank-check merger nearly three years ago.
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April 08, 2025
Trump Wants To Use Firms That Cut Deals For Coal Leases
President Donald Trump said Tuesday that he wants to help coal companies with their leasing matters by proffering the services of BigLaw firms that signed agreements to avoid getting shut out of government work.
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April 08, 2025
Fla. Cloud Co. Accuses Ex-Board Member Of SPAC Fraud
A Florida cloud storage business has accused a former board member of securities fraud in federal court, alleging that a side agreement splitting a finder's fee with an unregistered broker he introduced for a merger deal wasn't disclosed, and now the company faces shutdown if an asset sale isn't halted.
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April 08, 2025
In Trump Order Against Perkins Coie, GCs See Harm For Cos.
Nearly 70 current and former general counsel for companies including Apple Inc. and Starbucks filed an amicus brief Tuesday supporting Perkins Coie LLP in its suit against an executive order from President Donald Trump targeting the firm, saying the order "tramples on corporate independence, the right to counsel, and First Amendment rights."
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April 08, 2025
Eversheds Sutherland Brings Back Former CLO In Atlanta
Eversheds Sutherland has brought back the former chief legal officer and corporate secretary for heavy construction materials manufacturer Argos North America Corp., strengthening its corporate practice with an attorney having experience in mergers and acquisitions and corporate governance, the firm announced Tuesday.
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April 08, 2025
Battery Park City Authority Hires Ex-CBRE Atty As GC
Former CBRE legal counsel and managing director Elaine Kleinberg has been hired as general counsel for New York state's Battery Park City Authority, the public benefit corporation announced Monday.
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April 08, 2025
Netflix Taps Akin Partner As Global Public Policy Leader
The streaming entertainment company Netflix Inc. has hired a world trade and policy expert from Akin Gump Strauss Hauer & Feld LLP as its new global public policy chief.
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April 08, 2025
Former Prada GC Fashions Move To Fisher Phillips In NY
Fisher Phillips has hired the legal function leader of Prada Group as a New York office partner to expand the firm's retail industry offerings.
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April 08, 2025
White & Case Gets In On Trade Hiring With Ex-Treasury Atty
White & Case LLP has hired a former Treasury Department official in Washington, D.C., who focuses her practice on foreign direct investment matters, at a time when the nation is transfixed by international trade issues and BigLaw firms are beefing up their trade practices.
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April 07, 2025
Sig Sauer Says Gun Optics Recall Prevented Harm
Gunmaker Sig Sauer has asked a Pennsylvania federal judge to toss a proposed class action filed against it over a recall involving battery-powered firearm optics, claiming the plaintiff decided to initiate litigation despite not suffering any negative effects from it.
Expert Analysis
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FTC Privacy Enforcement Takeaways From 2024
In 2024, the Federal Trade Commission distinguished three prominent trends in its privacy-related enforcement actions: geolocation data protections, data minimization practices, and artificial intelligence use and marketing, say Cobun Zweifel-Keegan at IAPP and James Smith at Dechert.
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The Fed. Circ. In 2024: 5 Major Rulings To Know
In 2024, the Federal Circuit provided a number of important clarifications to distinct areas of patent law – including design patent obviousness, expert testimony admissions and patent term adjustments – all of which are poised to have an influence going forward, say attorneys at Knobbe Martens.
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Rethinking Litigation Risk And What It Really Means To Win
Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.
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Takeaways From SEC's Registered Investment Cos. Risk Alert
The U.S. Securities and Exchange Commission's Division of Examinations' recent risk alert pertaining to registered investment companies provides a high-level overview of its risk-based approach to selecting RICs for examination — a potential hint that the division is investigating some of the covered topics, say attorneys at Simpson Thacher.
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Roundup
Banking Brief: State Law Recaps From Each Quarter Of 2024
In this Expert Analysis series, throughout 2024 attorneys provided quarterly recaps discussing the biggest developments in banking regulation, litigation and policymaking in various states, including New York, California and Illinois.
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How DOGE's Bite Can Live Up To Its Bark
All signs suggest that the Department of Government Efficiency will be an important part of the new Trump administration, with ample tools at its disposal to effectuate change, particularly with an attentive Republican-controlled Congress, say attorneys at K&L Gates.
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Small Biz Caught In Corporate Transparency Act Crossfire
Despite compliance being put on hold due to a nationwide preliminary injunction, small businesses have been caught in the middle of the legal battle over the Corporate Transparency Act — and confusion over the law's requirements could result in major penalties, say attorneys at Snell & Wilmer.
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Forecasting The Future Of The FTC Post-Inauguration
The incoming Federal Trade Commission leadership's agenda, which is expected to be in sharp contrast with the Biden administration's enforcement posture, will be noticeable right away in the first few weeks of the Trump administration, say attorneys at Cooley.
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5 Notable Information Security Events In 2024
B. Stephanie Siegmann at Hinckley Allen discusses 2024's largest and most destructive data breaches seen yet, ranging from ransomware disrupting U.S. healthcare systems on a massive scale, to tensions increasing between the U.S. and China over cyberespionage and the control of U.S. data.
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Series
Playing Rugby Makes Me A Better Lawyer
My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.
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Series
Texas Banking Brief: All The Notable Legal Updates In Q4
The fourth quarter of 2024 brought noteworthy developments to the Texas financial services sector, particularly a new state artificial intelligence bill and a Consumer Financial Protection Bureau rule that will affect an outsize number of Texas community banks, says Tyler George at Naman Howell.
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Cyber Disclosure Is A Mainstay In 2025 SEC Exam Priorities
Despite a new administration and a new U.S. Securities and Exchange Commission chair incoming, the SEC's 2025 examination priorities signal that cybersecurity disclosures and risk management practices will remain important due to the growing threat of cyberattacks, says Anjali Das at Wilson Elser.
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Nippon, US Steel Face Long Odds On Merger Challenge
Following the Committee on Foreign Investment in the United States' review of Japan's Nippon Steel's proposed acquisition of U.S. Steel, the companies face a formidable uphill battle in challenging the president's exercise of authority to block the deal on national security grounds, say attorneys at Kirkland.
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Opinion
No, Litigation Funders Are Not 'Fleeing' The District Of Del.
A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.
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The Compliance Trends And Imperatives On Tap In 2025
The corporate ethics and compliance landscape is rapidly evolving, posing challenges from conflicting stakeholder expectations to technological disruptions, and businesses will need to explore human-centered, data-driven and evidence-based practices, says Hui Chen at CDE Advisors.