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June 21, 2024
Quinn Emanuel Rips Columbia's 'Utterly Meritless' Filing Bid
Quinn Emanuel Urquhart & Sullivan LLP told the Federal Circuit on Friday that Columbia University's bid to introduce a former Norton Lifelock computer scientist's declaration claiming the company's former lawyers at the firm are lying about his refusal to testify in the school's decade-long $600 million patent case is "utterly meritless."
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June 21, 2024
Apple Won't Offer AI Tools In EU Due To Regulatory Concerns
Apple confirmed Friday that the tech giant isn't planning on releasing new artificial intelligence features in the European Union this year due to "regulatory uncertainties" involving the bloc's new Digital Markets Act and the potential security risks that complying with the DMA could pose to Apple users.
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June 21, 2024
Real Estate Recap: Distressed Deals, Housing Hurdles, Infill
Catch up on this week's key state developments from Law360 Real Estate Authority — including tips for guiding distressed office deals, the latest intel from Harvard University's Joint Center for Housing Studies, and how one U.S. city has been a magnet for federal funding of brownfield projects.
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June 21, 2024
Kaspersky Hit With Sanctions In Wake Of US Software Ban
The U.S. Department of the Treasury on Friday sanctioned a dozen AO Kaspersky Lab executives, just a day after the U.S. Department of Commerce prohibited the sale of the Russia-based company's antivirus software and cybersecurity products in the United States.
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June 21, 2024
4 Big Banks Cited For 'Living Will' Weaknesses By Fed, FDIC
Federal regulators said Friday that half of the nation's largest U.S. banks will need to shore up weaknesses identified in their most recent "living wills," plans that detail how they could be resolved quickly and safely in the event of severe distress or failure.
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June 21, 2024
Under Armour To Pay $434M To End Securities Fraud Claims
Under Armour Inc. has agreed to shell out $434 million to put to rest claims it inflated stock prices by hiding declining demand for its products, investors announced Friday, reaching a deal just weeks before a jury trial was set to kick off in Maryland federal court.
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June 21, 2024
Google Ditches Wiretap Suit Over AI Customer Service Calls
A California federal judge has tossed, for now, a proposed class action accusing Google LLC of using a "human-like" customer service product powered by generative artificial intelligence to illegally eavesdrop on Verizon users' calls, finding that Google was exempt from liability because it was acting as Verizon's agent.
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June 21, 2024
Nike Misled Investors On Sales Strategy, Ore. Class Suit Says
Nike and two executives were hit with a proposed class action lawsuit in Oregon federal court over securities law violations, with a Florida-based pension fund alleging stock value declined as the shoe corporation continued to mislead investors on the success of a change in sales strategy.
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June 21, 2024
Twitter Judge Skeptical Of Musk's Bid To Beat Investor Suit
A California federal judge considering allegations that Elon Musk misled Twitter investors by falsely tweeting that it had to provide information on its alleged bot problem before he'd proceed with his $44 billion acquisition appeared skeptical Friday of Musk's defense that investors knew he was obligated to close the deal regardless.
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June 21, 2024
Intel Investor Says Top Brass Hid Foundry Losses, Problems
Intel Corp. executives were hit with a shareholder derivative complaint alleging they misled investors as to the actual success of the company's newly created Foundry Services division, according to the suit filed Friday in Delaware federal court.
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June 21, 2024
Live Nation Investor Sues Leaders Over DOJ Antitrust Claims
Live Nation's executives and directors were hit with a shareholder derivative lawsuit Friday in California federal court that seeks damages in the wake of the U.S. Department of Justice's allegations that the company monopolized concert promotion and ticket sales following its 2010 merger with Ticketmaster.
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June 21, 2024
Manhattan DA Seeks To Retain Trump Gag Order, Amid Threats
The Manhattan District Attorney's Office urged a New York state judge Friday to leave in place most restrictions of the gag order preventing Donald Trump from speaking publicly about witnesses, jurors and others tied to his criminal trial, citing a barrage of threats from his supporters in recent months — including "actionable" death threats before and after the verdict.
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June 21, 2024
Crypto Vet With FTX Ties Launches Fintech Policy Think Tank
Former congressional hopeful and cryptocurrency veteran Michelle Bond announced her formation of fintech policy think tank Digital Future, making a return to financial services policy after the recent sentencing of her partner, former FTX executive Ryan Salame, and FTX-linked donations to her 2022 campaign.
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June 21, 2024
SEC Bypassed Congress On Climate Regs, Suing States Say
A coalition of Republican-led states suing the U.S. Securities and Exchange Commission over recently adopted climate disclosure regulations presented their opening pitch for vacating those regulations to the Eighth Circuit on Friday, arguing that Congress has passed on the opportunity to demand climate risk reporting from publicly traded companies.
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June 21, 2024
Lockheed Units To Pay $70M To End FCA Cost Inflation Suit
Sikorsky Support Services Inc. and Derco Aerospace Inc. have agreed to pay $70 million to settle a federal lawsuit alleging that they overcharged the U.S. Navy for spare parts and materials for training aircraft through an illegal subcontracting arrangement, the U.S. Department of Justice announced Friday.
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June 21, 2024
Employment Authority: PAGA's Faith At Stake
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on where California's Private Attorneys General Act stands as a proposed ballot measure call for repealing the law two years after the U.S. Supreme Court's decision in Viking River, major takeaways from a pair of recent rulings on the U.S. Equal Employment Opportunity Commission's pregnant worker accommodation and a look at the recent National Labor Relations Board judge's decision finding unlawful certain noncompete agreements.
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June 21, 2024
Texas Fines Major Carriers $10.2M For Deceptive Advertising
Some of the nation's biggest mobile carriers — including AT&T, T-Mobile and Verizon — have inked a $10 million deal with Texas to end the state's probe into what the Lonestar State says are the carriers' "deceptive and misleading" advertising practices.
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June 21, 2024
Delaware's Corporate Law Debate Left 'Blood On The Floor'
Delaware lawmakers have settled, for now, a rare, bitter, national fight over director rights to cede some powers to big stockholders, but the "Moelis" debate has also boosted friction between board and stockholder camps, with one retired law professor saying underlying litigation had left "blood on the floor."
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June 21, 2024
Meta's Child Porn Defense 'Disingenuous,' MDL Judge Says
A California federal judge appeared skeptical Friday of Meta's bid to cut child pornography possession allegations from sprawling multidistrict litigation over social media platforms' allegedly addictive designs, telling defense counsel that Meta's claim it didn't know about the illegal content on its platforms is "a bit disingenuous."
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June 21, 2024
Treasury Unveils Rules Curtailing Outbound Tech Investments
The U.S. Department of the Treasury on Friday proposed rules to implement President Joe Biden's executive order aimed at restricting American investments in certain technologies that China is developing, including artificial intelligence systems, that are deemed threats to national security.
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June 21, 2024
9th Circ. Axes 2 Symetra Structured Deal Recipient Classes
The Ninth Circuit on Thursday scrapped two classes in a lawsuit accusing an insurance conglomerate of wrongfully inducing personal injury settlement recipients to give up their rights to periodic payments in exchange for a discounted immediate lump sum payment, saying individual issues will predominate over common issues.
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June 21, 2024
Ex-CEO Found Liable For $1 Now Seeks Atty Fees For Del. Suit
The ex-CEO of a biopharma company who was found liable in 2021 for breaching his fiduciary duties but ordered to pay just $1 in damages after Delaware's Court of Chancery found that no real harm had been done is now suing for his attorney's fees and court costs.
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June 21, 2024
Aramark Sued In Wash. For Alleged Pay Transparency Lapses
Aramark has been accused of violating Washington state's pay transparency law by failing to give full pay ranges in job postings, according to a proposed class action the food services giant removed to Washington federal court on Thursday.
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June 21, 2024
DOJ Backs Antitrust Case Against Zillow, Realtors At 9th Circ.
The U.S. Department of Justice has urged the Ninth Circuit to revive antitrust claims from a defunct brokerage platform against Zillow and the National Association of Realtors based on design changes Zillow made to comply with association rules.
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June 21, 2024
Cathay Pacific Pilots Land $16.65M Deal In 7-Year Wage Fight
A group of 110 Cathay Pacific Airways Ltd. pilots will receive $16.65 million to settle a seven-year wage case alleging that the airline violated Golden State labor laws governing meal and rest periods, overtime and reserve duty pay, according to a preliminary motion for approval filed Thursday in California federal court.
Expert Analysis
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3 Lessons From Family Dollar's Record $41.7M Guilty Plea
Family Dollar's recent plea deal in connection with a rodent infestation at one of its distribution facilities — resulting in the largest ever monetary criminal penalty in a food safety case — offers key takeaways for those practicing in the interconnected fields of compliance, internal investigations and white collar defense, says Jonathan Porter at Husch Blackwell.
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This Earth Day, Consider How Your Firm Can Go Greener
As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.
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Opinion
Anti-DEI Complaints Filed With EEOC Carry No Legal Weight
Recently filed complaints against several companies' diversity, equity and inclusion programs alleging unlawful discrimination against white people do not require a response from the U.S. Equal Employment Opportunity Commission, and should not stop employers from rooting out ongoing discriminatory practices, says former EEOC general counsel David Lopez.
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New Proposal Signals Sharper Enforcement Focus At CFIUS
Last week's proposed rule aimed at broadening the Committee on Foreign Investment in the United States' enforcement authority over foreign investments and increasing penalties for violations signals that CFIUS intends to continue expanding its aggressive monitoring of national security issues, say attorneys at Kirkland.
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Oracle Ruling Underscores Trend Of Mootness Fee Denials
The Delaware Chancery Court’s recent refusal to make tech giant Oracle shoulder $5 million of plaintiff shareholders' attorney fees illustrates a trend of courts raising the standard for granting the mootness fee awards once ubiquitous in post-merger derivative disputes, say attorneys at Troutman Pepper.
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Traversing The Web Of Nonjudicial Grievance Mechanisms
Attorneys at Covington provide an overview of how companies can best align their environmental and human rights compliance with "hard-law" requirements like the EU's recently approved Corporate Sustainability Due Diligence Directive while also navigating the complex global network of existing nonjudicial grievance mechanisms.
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Questions Persist After Ruling Skirts $925M TCPA Award Issue
After an Oregon federal court's recent Wakefield v. ViSalus ruling that the doctrine of constitutional avoidance precluded it from deciding whether a $925 million Telephone Consumer Protection Act damages award was constitutionally sound, further guidance is needed on when statutory damages violate due process, says Michael Klotz at O'Melveny.
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An NYDFS-Regulated Bank's Guide To Proper Internal Audits
As certification deadlines for compliance with the New York State Department of Financial Services’ transaction monitoring and cybersecurity regulations loom, lawyers should remember that the NYDFS offers no leeway for best efforts — and should ensure robust auditing and recordkeeping processes for clients, say attorneys at Arnall Golden.
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Opinion
Post-Moelis Del. Corp. Law Proposal Would Hurt Stockholders
The proposed Delaware General Corporation Law amendment in response to the Court of Chancery's recent opinion in West Palm Beach Firefighters' Pension Fund v. Moelis would upend the foundational principle of corporate law holding that directors govern corporations in the interest of stockholders — and the potential harm would be substantial, say attorneys at Block & Leviton.
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Exploring Patent Trends In Aerospace Electrification
As blue-chip companies lead the charge to power large-scale commercial airplanes with electricity, and startups advance the trend on a regional scale, patent applications directed at improving energy storage and electric motor efficiency are on the rise, say attorneys at Finnegan.
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Blocked JetBlue-Spirit Deal Illustrates New Antitrust Approach
The U.S. Department of Justice’s recent successful block of a merger between JetBlue Airways and Spirit Airlines demonstrates antitrust enforcers’ updated and disparate approach to out-of-market benefits versus out-of-market harms, say Lisa Rumin and Anthony Ferrara at McDermott.
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Back Labels In False Ad Cases Get Some Clarity In 9th Circ.
Courts in the Ninth Circuit have recently delivered a series of wins to advertisers, making clear that any ambiguity on the front of a product's package can be resolved by reference to the back label — which guarantees defendants a powerful tool to combat deceptive labeling claims, say attorneys at Patterson Belknap.
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At 'SEC Speaks,' A Focus On Rebuilding Trust Amid Criticism
At the Practising Law Institute's SEC Speaks conference last week, U.S. Securities and Exchange Commission leadership highlighted efforts to rebuild and restore trust in the U.S. capital markets by addressing investor concerns through regulatory measures and enforcement actions, emphasizing the need for cooperation from market participants, say attorneys at Perkins Coie.
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The Pros And Cons Of NIST's Proposed March-In Framework
Recent comments for and against the National Institute of Standards and Technology’s proposed guidance on march-in rights — which permit the government to seize federally funded patents — highlight how the framework may promote competition, but could also pose a risk to contractors and universities, say Nick Lee and Paul Ragusa at Baker Botts.
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Comparing Corporate Law In Delaware, Texas And Nevada
With Elon Musk's recent decision to reincorporate his companies outside of Delaware, and with more businesses increasingly considering Nevada and Texas as corporate homes, attorneys at Baker Botts look at each jurisdiction's foundation of corporate law, and how the differences can make each more or less appealing based on a corporation's needs.