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Corporate
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October 23, 2024
No More Coverage For Paper Co.'s Pollution Claim, Panel Says
A WestRock Co. subsidiary that owned a Montana paper mill later identified as a Superfund site isn't entitled to additional coverage from its AIG insurer, an Illinois state appeals court ruled, saying two pollution conditions on the property were related and subject to a single $5 million limit of liability.
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October 23, 2024
Chancery Mulls Call To Toss $7B Focus Financial Merger Suit
An attorney for private equity firm Stone Point Capital told Delaware's chancellor Wednesday that there was no control group formed before the $7 billion August 2023 go-private merger between Focus Financial Partners Inc. and Clayton Dubilier & Rice LLC, and that a ruling otherwise would "lower the bar" for control allegations.
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October 23, 2024
Del. Justices Urged To Revive Oracle-NetSuite Deal Challenge
An attorney for Oracle Corp. stockholders rattled off a barrage of alleged disclosure failures, analytical flaws and errant deference decisions Wednesday during a Delaware Supreme Court appeal from the Chancery Court's toss last year of a challenge to the company's $9.3 billion acquisition of NetSuite Corp. in 2016.
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October 23, 2024
SEC's Peirce Calls For Compliance Advisory Committee
The U.S. Securities and Exchange Commission's Hester Peirce on Wednesday detailed her vision for a compliance advisory committee that would give the agency a way to collect and evaluate concerns about new rules from in-house compliance staff.
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October 23, 2024
Feds Say Conn. Oil Trader's Ailing Brother Deserves Prison Time
A Connecticut businessman who worked with his brother and others to run an oil industry bribery scheme in Brazil should go to prison despite his bladder cancer diagnosis, the government said, arguing incarceration is necessary "to reflect the seriousness of the offense, and to afford adequate deterrence."
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October 23, 2024
Amazon Must Face Drivers' Tip Suit Despite FTC Settlement
A Washington federal judge largely refused Wednesday to toss a proposed class action accusing Amazon of violating Evergreen State laws by withholding portions of drivers' tips, saying the claims are still valid despite the Federal Trade Commission reaching a nearly $62 million deal with the company over the same alleged conduct.
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October 23, 2024
Telecom Group Sues To Cancel FTC's 'Click To Cancel' Rule
A major cable and internet industry group and others sued the Federal Trade Commission Wednesday over its new "click to cancel" rule, asking the Fifth Circuit to vacate the regulation one week after it was adopted in a 3-2 commission vote.
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October 23, 2024
American Airlines Fined $50 Million For Disability Violations
American Airlines received a $50 million penalty from the U.S. Department of Transportation Wednesday for "serious violations" of disability laws protecting people in wheelchairs, with the department saying the violations included injuring or mishandling disabled travelers, damaging their wheelchairs or failing to return the devices promptly.
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October 23, 2024
OpenAI Hires Uber Ethics Head As New Compliance Chief
OpenAI Inc. has brought on Uber Technologies Inc.'s chief ethics and compliance officer to head up its compliance department as it works to "build on [its] ongoing efforts to responsibly advance AI," the company said Tuesday.
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October 23, 2024
Roundup Suit Pared As Preemption Claim Sways Mass. Judge
A Massachusetts judge has dismissed portions of a suit claiming a woman's use of the weedkiller Roundup caused her cancer, ruling a federal labeling law preempts her theory that Monsanto failed to warn consumers about the chemical's dangers.
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October 23, 2024
United Worker Fired Over Online Pics Gets Bias Suit Revived
A California appeals court revived a United Airlines flight attendant's sex bias suit claiming she was unlawfully fired for appearing in uniform on a social media page advertising her OnlyFans account, crediting her argument that male flight attendants didn't face the same consequences for similar behavior.
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October 23, 2024
Roche CEO Says Novo-Catalent Deal Should Be Blocked
The CEO of Swiss pharmaceutical company Roche injected himself into the controversy surrounding Novo Holdings' planned $16.5 billion acquisition of Catalent on Wednesday, stating that he thinks antitrust authorities should block the deal due to its anticompetitive implications.
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October 23, 2024
Ex-SEC Atty, Fintech GC Joins Stradling's Securities Team
Stradling Yocca Carlson & Rauth PC has added a former fintech general counsel and U.S. Securities and Exchange Commission attorney, reinforcing the firm's offerings for companies facing enforcement investigations or grappling with other compliance issues.
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October 23, 2024
Kirkland Adds Freshfields Atty To Boost Private Credit Bench
Kirkland & Ellis LLP has welcomed an expert in leveraged finance from Freshfields Bruckhaus Deringer LLP, saying Wednesday that his diverse practice will strengthen the firm's liability management and opportunistic credit practices and support its position in the growing private credit sector.
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October 23, 2024
JAMS Adds International Arbitration Veteran To Miami Office
Alternative dispute resolution service JAMS has added the managing member of Squires International Law PLLC to its Miami office, strengthening its services with a multilingual attorney who brings a strong business and law background.
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October 23, 2024
CPAs Prepare For Uncertainty As TCJA Expiration Looms
Certified public accountants and financial planners are preparing to help their clients navigate the uncertainty around next year's expiration of major parts of the Tax Cuts and Jobs Act as lawmakers gear up to decide who will bear the brunt of any resulting tax changes.
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October 23, 2024
Chemical Co. GC Fires Back At Pregnancy Bias Claims In NJ
Arxada and its general counsel struck back at a former in-house attorney's claims in a New Jersey state court lawsuit that the specialty chemicals company unlawfully dismissed her in the days after she talked about taking leave to recover from a miscarriage.
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October 22, 2024
UFC Fighters Win Initial OK On $375M Wage Suppression Deal
A Nevada federal judge on Tuesday gave his blessing to a $375 million settlement resolving a group of former UFC fighters' claims that the organization for years underpaid match participants, the fighters' counsel confirmed.
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October 22, 2024
Calif. Panel Says Panera Must Face PAGA Claims
A California state appeals court on Monday reversed a state trial court's ruling compelling a Panera restaurant employee to arbitrate Private Attorneys General Act claims against the bakery and café chain, saying an arbitration agreement the worker had entered explicitly excluded PAGA claims.
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October 22, 2024
Texas Rebar Giant Accused Of Crushing Rivals As Trial Opens
Pacific Steel Group's counsel told a California federal jury during trial openings Tuesday that Texas rebar giant Commercial Metals Co. used anticompetitive tactics to "crush" competition and drive up rebar prices in the Golden State, while CMC's counsel said evidence will show PSG can only blame itself for its problems.
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October 22, 2024
Ex-Google GC Must Be Investigated By Calif. Bar, Groups Say
A trio of groups led by the American Economic Liberties Project on Tuesday pressed the State Bar of California to investigate former Google general counsel Kent Walker for "coaching" the company to "engage in widespread and illegal destruction of records relevant to multiple ongoing federal trials."
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October 22, 2024
AMC Fights Insurer Bid For Toss Of $99.3M Settlement Claim
AMC Entertainment has asked a Delaware judge to summarily toss four insurers' refusals to approve a $99.3 million claim for losses related to the theater chain's settlement with stockholders after the company settled a battle over a preferred share conversion and reverse stock split.
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October 22, 2024
Fintech Co. Ryvyl Investors' Accounting Fraud Suit Trimmed
Executives of fintech company Ryvyl Inc. have shed some claims from an investor suit accusing them of concealing accounting problems, with a California federal judge ruling that the investors have not sufficiently pled that the defendants knowingly acted recklessly or committed wrongful acts.
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October 22, 2024
CDC Links E. Coli Outbreak To McDonald's Quarter Pounders
The U.S. Centers for Disease Control and Prevention issued an alert Tuesday saying E. coli has been detected in McDonald's Corp.'s Quarter Pounder hamburgers, infecting nearly 50 people and killing one so far.
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October 22, 2024
Media, Small Biz Orgs. Fight FTC's 'Click To Cancel' Rule
The Michigan Press Association and the National Federation of Independent Businesses lodged a challenge Tuesday to the Federal Trade Commission's new "click to cancel" rule requiring that companies allow customers to ditch their subscriptions with a single click, telling the Sixth Circuit the commission has overstepped its authority.
Expert Analysis
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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.
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Series
Rock Climbing Makes Me A Better Lawyer
Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.
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What Chevron's End Means For How Congress Does Business
The U.S. Supreme Court’s recent Loper Bright Enterprises v. Raimondo decision, overturning the Chevron doctrine, will have a far-reaching impact across the entire public policy life cycle, beginning with how Congress writes its laws and extending through agency implantation and judicial review, say attorneys at K&L Gates.
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Think Like A Lawyer: Dance The Legal Standard Two-Step
From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.
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Alice Step 2 Trends Show Courts' Extrinsic Evidence Reliance
A look at recent trends in how district courts are applying Step 2 of the Alice framework shows that courts have increasingly relied on extrinsic evidence to help determine whether a claimed invention is "well-understood, routine, and conventional," says Jonathan Tuminaro at Sterne Kessler.
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Examining Chancery's Relaxed New Confidential Filing Rules
The Delaware Court of Chancery’s overhauled Rule 5.1, which governs confidential filings, risks permitting nonconfidential information to be shielded from public review unless and until a challenge notice is filed — but several potential solutions could help to override this issue, says Delaware attorney Daniel J. McBride.
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Takeaways From Tossed Deal In Visa, Mastercard Class Action
Given the rejection of a proposed deal in the long-running merchant antitrust class action against Visa and Mastercard in New York federal court, sweetening the proposed settlement pot likely will not be an option, leaving few possible outcomes including splitting the class and allowing opt-outs, say attorneys at Davis Wright.
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DOJ Innovasis Settlement Offers Lessons On Self-Disclosure
The recent $12 million settlement with Innovasis and two of its executives demonstrates the U.S. Department of Justice's continued prioritization of Anti-Kickback Statute enforcement amid the growing circuit split over causation, and illustrates important nuances surrounding self-disclosure, say Denise Barnes and Scott Gallisdorfer at Bass Berry.
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Opinion
OFAC Sanctions Deserve To Be Challenged Post-Chevron
The U.S. Supreme Court's Loper Bright decision opens the door to challenges against the Office of Foreign Assets Control's sanctions regime, the unintended consequences of which raise serious questions about the wisdom of what appears to be a scorched-earth approach, says Solomon Shinerock at Lewis Baach.
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Behind The Delay Of Final HSR Premerger Filing Rules
Erin Toomey at Epiq discusses the wait for the final version of the revised Hart-Scott-Rodino premerger filing requirements that were first introduced in June 2023, the factors that might be behind the delay, and how to plan for the potential data-focused rule change
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How Calif. Ruling Alters Worker Arb. Agreement Enforcement
The California Supreme Court’s recent ruling in Ramirez v. Charter Communications should caution employers that while workers’ arbitration agreements will no longer be deemed unenforceable based on their number of unconscionable provisions, they must still be fair and balanced, says Sander van der Heide at CDF Labor.
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Opinion
After Jarkesy, IRS Must Course-Correct On Captive Insurance
The U.S. Supreme Court’s recent Securities and Exchange Commission v. Jarkesy decision has profound implications for other agencies, including the IRS, which must stop ignoring due process and curtailing congressional intent in its policing of captive insurance arrangements, says Peter Dawson at the 831(b) Institute.