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Corporate
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February 10, 2025
SEC Grants Short-Selling Disclosure Reprieve, CAT Relief
The U.S. Securities and Exchange Commission is providing a temporary exemption in order to allow investment managers more time to comply with new rules requiring increased disclosure on short selling, and separately said it will no longer require certain personally identifiable information to be reported to the market database known as the Consolidated Audit Trail.
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February 10, 2025
Aerospace Co. Seeks To Toss Ex-Exec's Amended Claims
A Garden State-based aerospace company is asking a federal judge to dismiss with prejudice the second amended counterclaims by its ex-president and his new business in a trade secrets case, according to court filings.
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February 10, 2025
Tesla Seeks Chancery Toss Of Challenge Over Texas Move
Delaware's chancellor said Monday she would issue a "short" letter reply to calls for dismissal of a stockholder claim that Tesla Inc. failed to secure a required supermajority vote to move its charter to Texas, following arguments that the court recently approved a simple majority vote in a similar case.
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February 10, 2025
Trump Buyout Plan Still On Hold As Unions Cite 'Confusion'
A Boston federal judge on Monday extended his hold on President Donald Trump's federal worker buyout program as he weighs a request from unions to block the so-called Fork Directive, which promises months of pay to government employees who resign their posts.
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February 10, 2025
Former Palm GC's Racial Bias Claim Should End, Judge Says
A New York federal judge has recommended dismissing a race discrimination claim brought by an ex-general counsel for The Palm steakhouse chain's owner while allowing her retaliation and breach of contract claims to proceed to arbitration, concluding that the company's onetime top lawyer had not shown the restaurant had "discriminatory intent."
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February 10, 2025
Ex-SEC Atty's Bias Case Not Holding, Despite Deal Talks
A Pennsylvania federal judge refused Friday to delay the upcoming trial in a lawsuit filed by a former U.S. Securities and Exchange Commission lawyer who sued the agency for racial and age discrimination, despite a letter to the court saying that the parties are making progress toward a settlement.
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February 10, 2025
Lexitas Selling Registered Agent Unit To Dutch Co. For $415M
Austin, Texas-based legal services provider Lexitas said Monday that it has agreed to sell its Registered Agent Solutions Inc. unit to Dutch information services company Wolters Kluwer Financial & Corporate Compliance for approximately $415 million in cash.
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February 10, 2025
DC Judge Won't Stop Shein's Copyright Takedowns On Temu
A D.C. federal judge declined to block fast fashion giant Shein from inundating rival online retailer Temu with copyright takedown requests, finding Temu's claimed injury was economic and thus not irreparable.
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February 10, 2025
Baker Botts Partner Takes GC Role At NW Natural Gas
Oregon-based Northwest Natural Holding Co. has added a Baker Botts LLP environment and energy attorney as its deputy general counsel and as general counsel of Northwest Natural Gas Co.
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February 10, 2025
Former X Workers Can't Force Arbitration For Their Claims
A California federal judge refused to force X to arbitrate several former workers' claims that they say should have already proceeded through arbitration but for the social media company's unlawful dragging of its feet, saying none of the parties can arbitrate their disputes in his district.
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February 10, 2025
Verizon Escapes Workers' Suit Over Lead-Covered Cables
A Pennsylvania federal judge threw out a lawsuit filed on behalf of utility workers alleging Verizon endangered them by failing to properly dispose of lead-covered cables on telephone poles, ruling that allegations of suffering common ailments were not enough to support a class action.
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February 10, 2025
Investor Urges US Steel To Dump Deal After Trump Comments
Activist investor Ancora Holdings Group on Monday urged U.S. Steel to abandon its proposed $14.9 billion merger with Japan's Nippon Steel, stating that the deal has "no chance of being resurrected" in light of statements made by President Donald Trump on Friday.
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February 10, 2025
Trump Admin Violating Order To Unfreeze Funds, Judge Says
A Rhode Island federal judge ruled Monday the Trump administration is not complying with the court's temporary restraining order barring a freeze on funding for federal grants and programs, ordering the administration to immediately restore the frozen funds.
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February 10, 2025
2nd Circ. Backs UBS In Retaliation Case That Justices Revived
A split Second Circuit panel sided Monday with UBS in a whistleblower case that a fired worker managed to get the U.S. Supreme Court to revive, ruling that the jury instructions that preceded the worker's trial court win were too unclear to let his victory stand.
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February 10, 2025
Chubb Wants Depo Of Smithfield Foods CLO In Coverage Row
A Chubb unit facing coverage claims from Smithfield Foods Inc. asked the North Carolina Business Court to let it depose the company's chief legal officer before the parties' upcoming April trial even though discovery for the case has ended.
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February 10, 2025
9th Circ. Tosses Slack Investor Suit After High Court Battle
The Ninth Circuit on Monday released Slack Technologies Inc. from an investor dispute that was previously ruled on by the U.S. Supreme Court, with the circuit court going a step further than the high court in ruling that none of the suing investors' claims were salvageable due to the unique way that Slack went public.
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February 10, 2025
'Stand Down': CFPB's Acting Chief Pulls Employees Off Job
The Trump administration's acting Consumer Financial Protection Bureau Director Russell Vought told agency staff on Monday to "stand down" from doing any work, the latest in a series of rapid-fire moves that are sidelining the agency and prompting employees to sue.
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February 09, 2025
CFPB Suspends Activity, Closes HQ As New Chief Arrives
The Trump administration escalated efforts over the weekend to power down the Consumer Financial Protection Bureau, canceling the agency's next funding draw, suspending its examination activity and ordering a closure of its main office.
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February 07, 2025
2nd Circ. Orders In-House Counsel Docs In Grand Jury Case
The Second Circuit on Friday ruled that an in-house attorney for a publicly traded company under federal investigation in New York must turn over communications as part of a grand jury investigation under the crime-fraud exception to attorney-client privilege.
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February 07, 2025
Trump Isn't Obeying Order To Unfreeze Funds, States Say
The Trump administration is not complying with a temporary restraining order barring a freeze on funding for federal grant and aid programs, a coalition of states told a Rhode Island federal judge Friday, asking the court to enforce its order and to enter a stiffer injunction blocking the funding freeze.
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February 07, 2025
Real Estate Recap: Evolving CRE Finance, Tariffs, PFAS
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including how modern commercial real estate financing has changed the way real estate lawyers practice, as well as insights from Big Law attorneys on two major topics of 2025: tariffs and polyfluoroalkyl substances, a.k.a. "forever chemicals."
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February 07, 2025
Chancery Tosses $3.4B Hertz Stock Warrant Redemption Suit
Delaware's Court of Chancery dismissed a suit Friday filed by two Hertz institutional investors accusing the company of relying on an impermissible reinterpretation of a warrant agreement to reject a redemption demand purportedly triggered by the company's post-Chapter 11 recapitalization, finding the plaintiffs' interpretation of the agreement leads to "absurd results."
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February 07, 2025
Apple Drops Suit Over Leaks To Press As Engineer Apologizes
A California judge on Thursday granted Apple's request to drop a lawsuit against a former employee who allegedly leaked sensitive company information to journalists and others, the same day the software engineer issued a public apology for his "profound and expensive mistake."
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February 07, 2025
Nippon-US Steel Merger Targeted By Consumers In Calif.
A group of consumers has asked a California federal court to prohibit Japan's Nippon Steel Corp. from acquiring U.S. Steel Corp. in their proposed $14.9 billion mega-merger, filing suit just days before President Donald Trump suggested that the deal was being called off.
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February 07, 2025
DOJ Tells DC Circ. Not To Delay Google Search Fix For Apple
The U.S. Department of Justice and state enforcers told the D.C. Circuit Friday that the remedies phase of the search monopolization case against Google is too important to wait while Apple appeals a ruling denying its last minute bid to intervene in the case.
Expert Analysis
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Series
In The CFPB Playbook: A Sprint To The Finish Line
The fourth quarter of 2024 was an impressive demonstration of the Consumer Financial Protection Bureau's ability to regulate, enforce and supervise, even on borrowed time following the election results, and we should expect the current bureau to run nonstop until Jan. 20, say attorneys at Covington.
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3 Factors Affecting Retail M&A Deals In 2025
Retailers considering mergers and acquisitions this year face an evolving antitrust environment, including a new administration under President-elect Donald Trump, revised merger guidelines and a precedent set last year by a canceled $8.5 billion handbag merger, say attorneys at DLA Piper.
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7 Pitfalls To Watch In Tech Referral Fee Programs
The recent attempt by FluidStack to recover $10 million in referral fees allegedly promised by software vendor Denvr Dataworks should alert potential participants in so-called partnership programs to seven signs that a proposed technology referral agreement may not equally benefit all sides, says Chris Wlach at Huge Inc.
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Predicting What's Next For SEC By Looking At Past Dissents
While Paul Atkins' nomination to be the next chair of the U.S. Securities and Exchange Commission has taken center stage, an analysis of Republican Commissioners Hester Peirce and Mark Uyeda's past votes and dissents provides a preview of where enforcement may shift in the new administration, say attorneys at Gibson Dunn.
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FTC Picks Augur Pro-Business Bent For Much Of Economy
President-elect Donald Trump's choice of two top Federal Trade Commission officials suggests a business-friendly climate for a significant portion of the U.S. economy, with noteworthy exceptions of continued scrutiny of healthcare and Big Tech companies, excluding artificial intelligence, say attorneys at BCLP.
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
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Searching For Insight On Requested Google Chrome Remedy
The potential for Google to divest its Chrome browser — a remedy requested by the Justice Department following a D.C. federal court’s finding the company is a monopolist — has drawn both criticism and endorsement, but legal precedent likely supports the former, say attorneys at Ballard Spahr.
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Consultants Should Be Aware Of DOJ's Potential New Reach
The U.S. Department of Justice's recent first-of-its-kind settlement with McKinsey & Co. indicates not only the DOJ's more aggressive stance toward businesses' potential criminal wrongdoings, but also the benefits of self-disclosure and cooperation when wrongdoing becomes apparent, says Dom Caamano at Kibler Fowler.
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How The UPC, ITC Complement Each Other In Patent Law
Attorneys at Ropes & Gray discuss the similarities and differences between the Unified Patent Court and the International Trade Commission, as well as recent matters litigated in both venues and why parties choose to file at these forums.
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Lessons Learned From 2024's Top FMLA Decisions
Last year's major litigation related to the Family and Medical Leave Act underscores why it is critical for employers to understand the basics of when leave and accommodations are required, say attorneys at Dechert.
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Opinion
3 New Year's Resolutions For Antitrust Agencies To Consider
James Fredricks at Skadden rings in 2025 with his wish list for the federal antitrust agencies, starting with a provision for a presumptive safe harbor for information sharing.
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FTC Focus: A Changing Of The Guard
While rigorous antitrust enforcement is unlikely to slow down at the Federal Trade Commission, the focus will undoubtedly change, including when it comes to Big Tech, as Andrew Ferguson prepares to take the reins from Chair Lina Khan, say attorneys at Proskauer.
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5th Circ.'s Nasdaq Ruling Another Piece In DEI Policy Puzzle
The Fifth Circuit's recent en banc opinion vacating Nasdaq's board diversity listing rule wades into the hotly debated topic of diversity, equity and inclusion initiatives at a time when many public companies are navigating the attention that DEI commitments are drawing from activists and shareholders, say attorneys at Debevoise.
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Lessons Learned From 2024's Top ADA Decisions
Last year's major litigation related to the Americans with Disabilities Act highlights that when dealing with accommodation requests, employers must communicate clearly, appreciate context and remain flexible in addressing needs, say attorneys at Dechert.
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8 Trends And Predictions Following PE's Late 2024 Surge
Private equity will remain at the forefront of value creation in 2025, and anticipated market trends include sponsors' desire to return capital to investors and a more business-friendly tack by the Antitrust Division of the U.S. Department of Justice, say attorneys at Weil.