Corporate

  • July 26, 2024

    Apple Commits To White House Guidelines For Responsible AI

    Apple Inc. has signed onto the Biden administration's voluntary guidelines for "responsible" artificial intelligence innovation, joining the likes of Amazon.com Inc., Google LLC, Microsoft Corp. and a dozen other leading tech companies, the White House announced Friday.

  • July 26, 2024

    Abbott Owes $495M In Baby Formula Bellwether Trial

    A Missouri jury awarded $95 million in compensatory damages and $400 million in punitive damages Friday over bellwether claims that Abbott Laboratories' baby formula caused a premature baby to suffer a fully disabling condition.

  • July 26, 2024

    Off The Bench: NBA Signs Mega Deals, Jerry Jones Settles

    In this week's Off The Bench, the NBA signed $77 billion worth of telecast and streaming deals while longtime league broadcaster TNT challenged the decision, Jerry Jones' suit against his alleged daughter settled while jurors were at lunch, and Pennsylvania's high court agreed to hear an appeal relating to Pittsburgh's jock tax, a fee applied to nonresident professional athletes.

  • July 26, 2024

    Adobe Exec Called Cancel Fee Trap 'Heroin' For Co., Suit Says

    Adobe Inc. is so aware of the power, and financial benefits, of its allegedly hidden early termination fee for its most lucrative subscription plan that one executive described the fee as "a bit like heroin for Adobe," according to a newly unredacted complaint from the U.S. Department of Justice and the Federal Trade Commission.

  • July 26, 2024

    NCAA's $2.8B NIL Deal, Revenue-Sharing Plan Sent To Judge

    A $2.78 billion deal to settle a massive class action targeting the NCAA's name, image and likeness compensation rules was submitted to a California federal judge for preliminary approval Friday, allowing for revenue sharing with athletes across all sports.

  • July 26, 2024

    Franklin Says DOJ, SEC Probing Western Asset Management

    Western Asset Management, a global fixed-income manager, is facing parallel investigations from the U.S. Department of Justice and the U.S. Securities and Exchange Commission over some of its past trade allocations, its parent Franklin Resources Inc. said Friday.

  • July 26, 2024

    Matterport Stockholder Sues In Del. For Books On Merger

    A shareholder of 3D-imaging and digitization venture Matterport Inc. has launched a Delaware Court of Chancery lawsuit seeking company documents, citing concerns that the business was selling itself to global real estate analytics company CoStar Group in part to protect insider equity from pending litigation.

  • July 26, 2024

    Real Estate Recap: CrowdStrike, CFIUS, Financial Services

    Catch up on this past week's key developments by state from Law360 Real Estate Authority — including the real estate sector's reaction to the CrowdStrike outage, heightened scrutiny of foreign investment in U.S. properties and a view of evolving financial services regulation from the general counsel of the Conference of State Bank Supervisors.

  • July 26, 2024

    Employment Authority: Tips For Dealing With Politics At Work

    Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on why employers should be cautious about handling employees' political differences in the workplace, how the labor movement is shifting its support for Vice President Kamala Harris after President Joe Biden drops out of the election and a look at the Third Circuit's decision over the NCAA and wage claims from college athletes.

  • July 26, 2024

    RTX Earmarks $1.2B For Anticipated Deals With DOJ, SEC

    RTX Corp., formerly known as Raytheon, said it has set aside more than $1.2 billion for anticipated deferred prosecution agreements and other deals with U.S. regulators stemming from investigations that include allegations of improper payments tied to contracts in the Middle East.

  • July 26, 2024

    Shareholder Litigation To Watch: A Midyear Report

    A pair of anticipated U.S. Supreme Court arguments, the fate of a new wave of lawsuits against special purpose acquisition companies and the future of shareholder claims of artificial intelligence malfeasance are among the issues that securities practitioners are following as the second half of 2024 unfolds in the courts.

  • July 26, 2024

    Biz Groups Call Corp. Transparency Act Unconstitutional

    The U.S. government has failed to show how the Corporate Transparency Act meets narrow exceptions to the Fourth Amendment's search warrant requirements, a group of small businesses told a Michigan federal court Friday in contending that the statute is unconstitutional.  

  • July 26, 2024

    LinkedIn Looks To End 'Fake Clicks' Suit With Very Real $6.6M

    LinkedIn has agreed to cough up at least $6.6 million to put an end to a class action from online businesses who say the website deliberately overreported "clicks" on ads to fleece advertisers.

  • July 26, 2024

    Chancery Questions $3.5M Atty Fee For Failed Proxy Battle

    An activist shareholder that launched a failed proxy contest at First Foundation Inc. struggled to convince a Delaware Chancery Court judge Friday that the settlement it reached with the Texas-based bank was worth a $3.5 million attorney fee.

  • July 26, 2024

    FTC Powers Get A Boost In Philly In Noncompete Ban Saga

    The Federal Trade Commission's contested regulatory and enforcement powers got a much-needed endorsement when a Pennsylvania federal judge refused to temporarily block a ban on employment noncompete agreements.

  • July 26, 2024

    Data Co. Told To Turn Over Contracts In Kochava Case

    A D.C. federal judge plans to order TargetSmart to turn over supplier contracts to the Federal Trade Commission in the agency's case against TargetSmart client Kochava on Friday, after TargetSmart's attorney said she was "99% sure that there was no due diligence done by Kochava" regarding the data's provenance.

  • July 26, 2024

    Feds Want Mogul To Forfeit $1.5M In NC Bribery Case

    Convicted insurance mogul Greg Lindberg should forfeit nearly $1.5 million he allegedly used to bribe North Carolina's insurance regulation chief in exchange for more friendly oversight of his companies, the U.S. government told a North Carolina federal court Friday.

  • July 26, 2024

    'Terrible Decisions': Ex-McElroy Deutsch CFO Gets 5 Years

    McElroy Deutsch Mulvaney & Carpenter LLP's former chief financial officer was sentenced Friday in a New Jersey state court to five years in prison and ordered to pay restitution for embezzling more than $1.5 million from the firm and failing to pay income tax.

  • July 26, 2024

    Boeing Sued In Del. For Docs On Safety, Quality Failures

    Two Boeing Co. pension fund stockholders sued in Delaware's Court of Chancery late on Thursday seeking access to company documents on safety and quality issues involving the 737 MAX, 777 and 787 commercial passenger jets, alleging a "slow rolling" of responses by the industry giant.

  • July 26, 2024

    Uber Accused Of Illegally Charging Tax On Delivery Fees

    Uber illegally collects sales tax on food delivery fees in Florida, a customer claimed in a proposed class action removed to federal court, saying the company cannot charge the tax if customers have the option of picking up the order themselves.

  • July 26, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    What a news week! President Joe Biden started it off by announcing he would not seek re-election, but then said he would push for reform of the U.S. Supreme Court in his remaining time. And the Boeing Co. confirmed it has finalized its agreement with federal prosecutors to plead guilty to one count of criminal conspiracy to defraud, related to safety issues and two fatal plane crashes.

  • July 26, 2024

    Cadwalader Suing Lloyd's Over Cyberattack Coverage Denial

    Cadwalader Wickersham & Taft LLP has filed suit against insurer Lloyd's of London in North Carolina state court, alleging the company has failed to reimburse the law firm for expenses related to a November 2022 data breach.

  • July 26, 2024

    Wait For Depositions May Delay Cognizant Bribe Trial Again

    Trial in a five-year-old case alleging two former Cognizant executives authorized a bribe to a government official in India could be delayed again after New Jersey federal prosecutors said on Friday that the current Sept. 9 date is too soon to complete necessary depositions in that country.

  • July 26, 2024

    HP Calls Dolby, Philips, Mitsubishi Patent Fees A 'Money Grab'

    Computer maker HP Inc. has claimed Dolby Laboratories, Mitsubishi and Philips are attempting a "money grab" by attempting to overcharge on licensing fees for ultra-high-definition streaming patents, according to a complaint filed in Massachusetts state court.

  • July 26, 2024

    Warner Bros. Challenges NBA's Lucrative New Amazon Deal

    Negotiations over the rights to broadcast NBA games boiled over into New York state court Friday, with Warner Bros. Discovery accusing the league of improperly spurning its offer to extend their current partnership in favor of a new deal with Amazon.

Expert Analysis

  • Series

    After Chevron: Various Paths For Labor And Employment Law

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    Labor and employment law leans heavily on federal agency guidance, so the U.S. Supreme Court’s decision to toss out Chevron deference will ripple through this area, with future workplace policies possibly taking shape through strategic litigation, informal guidance, state-level regulation and more, says Alexander MacDonald at Littler.

  • Series

    Boxing Makes Me A Better Lawyer

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    Boxing has influenced my legal work by enabling me to confidently hone the skills I've learned from the sport, like the ability to remain calm under pressure, evaluate an opponent's weaknesses and recognize when to seize an important opportunity, says Kirsten Soto at Clyde & Co.

  • Purdue Ch. 11 Ruling Reinforces Importance Of D&O Coverage

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    The U.S. Supreme Court's recent decision in Harrington v. Purdue Pharma, holding that a Chapter 11 reorganization cannot discharge claims against a nondebtor without affected claimants' consent, will open new litigation pathways surrounding corporate insolvency and increase the importance of robust directors and officers insurance, says Evan Bolla at Harris St. Laurent.

  • Anticipating Disputes In Small Biz Partnerships And LLCs

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    In light of persistently high failures of small business partnerships and limited liability companies, mediator Frank Burke discusses proactive strategies for protecting and defining business rights and responsibilities, as well as reactive measures for owners.

  • Series

    After Chevron: No Deference, No Difference For SEC Or CFTC

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    The Chevron doctrine did not fundamentally alter the interplay between the courts and the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission in the development of the securities and commodities laws — and its demise will not do so either, says Dan Berkovitz at Millennium Management.

  • Opinion

    Industry Self-Regulation Will Shine Post-Chevron

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    The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.

  • 3 Ways Agencies Will Keep Making Law After Chevron

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    The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.

  • Roundup

    After Chevron

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    In the month since the U.S. Supreme Court overturned the Chevron deference standard, this Expert Analysis series has featured attorneys discussing the potential impact across 26 different rulemaking and litigation areas.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q2

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    The second quarter of 2024 in California, which saw efforts to expand consumer protection legislation and enforcement actions in areas of federal focus like medical debt and student loans, demonstrated that the state's role as a trendsetter in consumer financial protection will continue for the foreseeable future, say attorneys at Sheppard Mullin.

  • Opinion

    Atty Well-Being Efforts Ignore Root Causes Of The Problem

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    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • How Generative AI May Aid Merger Clearance Process

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    Generative artificial intelligence capable of analyzing and searching large datasets stands to revolutionize the merger clearance process, including by significantly reducing the time and effort required to respond to Hart-Scott-Rodino second requests, say Kenneth Koch and Brian Blush at BDO USA.

  • Antitrust In Retail: The Meaning Of 'Accessible Luxury'

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    In order for the Federal Trade Commission to block a deal that would put six "accessible luxury" brands, including Coach and Michael Kors, under one roof, the agency will need to prove that this category is distinct from the true luxury or mass-market categories, says David Kully at Holland & Knight.

  • What Passage Of House Crypto Bill Could Mean For Industry

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    While the prospects of the Financial Innovation and Technology for the 21st Century Act, which recently passed the House in a bipartisan fashion, becoming law remain murky, the manner of its passage may give crypto markets a real cause for hope, say Neel Maitra and Dale Beggs at Dechert.

  • What 2 Rulings On Standing Mean For DEI Litigation

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    Recent federal court decisions in the Fearless Fund and Hello Alice cases shed new light on the ongoing wave of challenges to diversity, equity and inclusion initiatives, with opposite conclusions on whether the plaintiffs had standing to sue, say attorneys at Moore & Van Allen.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q2

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    The second quarter of 2024 saw less enforcement activity in the realm of New York financial services, but brought substantial regulatory and legislative developments, including state regulators' guidance on cybersecurity compliance and customer service processes for virtual currency entities, say James Vivenzio and Andrew Lucas at Perkins Coie.

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