Corporate

  • December 13, 2024

    SEC's Corporation Finance Director Gerding To Step Down

    The U.S. Securities and Exchange Commission announced Friday that the head of its Division of Corporation Finance, who oversaw the finalization of controversial new rules covering environmental disclosures and share repurchases, will leave the agency at the end of the year.

  • December 13, 2024

    DC Circ. Declines To Disturb Law That Could Ban TikTok

    The D.C. Circuit on Friday rejected TikTok's request for a preliminary injunction delaying implementation of a law requiring the app to split with its Chinese parent company ByteDance Ltd. or face a nationwide ban, saying that TikTok wants to block "the enforcement of a presumptively valid act of Congress."

  • December 13, 2024

    Employment Authority: 2024's Wage And Hour Curveballs

    Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with a look at major wage and hour developments including President elect-Donald Trump's no tax on tips proposal, why experts say the National Labor Relations Board's recent precedent shift about unilateral changes is unlikely to stick around and a review of five rulings in 2024 with notable interpretations of the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act.

  • December 13, 2024

    Pharma Co. Brass Face Investor Suit Over Drug Trial Probe

    Officers and directors of cancer treatment developer MacroGenics Inc. have been hit with a shareholder derivative action alleging they breached their fiduciary duties after the company announced three study participant deaths were being probed for a potential connection to the company's therapies.

  • December 13, 2024

    $15M Deal To End Hemisphere Media Merger Suit OK'd In Del.

    Former public stockholders of Hemisphere Media Group Inc. secured a $15 million Delaware Court of Chancery settlement Friday for claims that former controlling investor Searchlight Capital Partners LP took the media business private in a two-step deal that undervalued the company's remaining shares.

  • December 13, 2024

    Auto Mogul Must Turn Over Note Info In $127M Collection Row

    An auto mogul, his living trust and one of his companies must turn over documents related to a $20 million payment on promissory notes as part of marathon litigation related to Alter Domus LLC's attempts to collect on a $127 million judgment, a Michigan federal judge has ruled.

  • December 13, 2024

    Duke Energy Accused Of Negligence Ahead Of Data Breach

    Duke Energy Carolinas LLC failed to protect sensitive personal information ahead of a data breach in May, and now its current and former customers are at risk of identity theft and tax fraud, according to a proposed federal class action.

  • December 13, 2024

    EPA Mandates More Worker Safety For Carbon Tetrachloride

    The U.S. Environmental Protection Agency finalized a rule this week on carbon tetrachloride exposure, requiring "robust" employee safety planning on worksites but continuing to allow for its use as a feedstock for refrigerants.

  • December 13, 2024

    J&J Unit Deemed Family Duties A 'Distraction,' Suit Says

    A prosthetics company owned by Johnson & Johnson said an employee returning from parental leave had "distractions outside of work" as it gave him negative performance reviews before firing him, according to a suit filed in Massachusetts federal court Friday.

  • December 13, 2024

    ByteDance Ex-Coder Perjured Himself In Suit, Judge Finds

    A California federal judge imposed terminating sanctions against a former engineer at TikTok's parent company, finding he committed perjury in a suit alleging he was wrongly fired and ordered the dispute to arbitration.

  • December 13, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    Albertsons and its general counsel claim Kroger did not try hard enough to keep their proposed merger from being blocked by the courts, and a new survey says tight budgets are forcing in-house counsel to increasingly turn to artificial intelligence tools for help.

  • December 13, 2024

    Calif.'s 1st-Ever Willful Heat Penalty Issued To Landscaper

    The California Division of Occupational Safety and Health has levied its first-ever willful heat violation penalty against a landscaping and maintenance business for failing to provide workers with access to water when the temperature exceeded 95 degrees Fahrenheit, two years after it cited the company for similar heat-related safety violations.

  • December 13, 2024

    Mass. Cannabis Biz Gets Receiver Amid $10M In Debt

    A Massachusetts judge on Friday agreed to appoint a receiver to oversee either a sale or liquidation of cannabis grower and retailer Revolutionary Clinics, which owes nearly $10 million to its primary lender and thousands more to landlords and other creditors.

  • December 13, 2024

    Justices To Decide If Industry Can Test Calif. Auto Waiver

    The U.S. Supreme Court on Friday granted fossil fuel industry groups' request to review a decision backing the U.S. Environmental Protection Agency's Clean Air Act waiver that allows California to set its own greenhouse gas emissions standards for vehicles and run a zero-emission vehicles program, but the justices won't consider the legality of the waiver itself.

  • December 13, 2024

    Trump Rips DA's 'Dark Dream' To Legally Treat Him As Dead

    Donald Trump's attorneys Friday slammed a proposal by the Manhattan district attorney to preserve the president-elect's hush money conviction by treating him like a defendant who dies after a verdict, pushing the judge to dismiss the case altogether.

  • December 13, 2024

    UnitedHealth To Pay $69M In Suit Over 401(k) Fund Roster

    UnitedHealth Group has agreed to pay $69 million to settle a class action claiming it included low-performing investment options in its 401(k) plan to preserve its business relationship with Wells Fargo, according to a filing Friday in Minnesota federal court.

  • December 13, 2024

    McKinsey To Pay $650M For Work With Opioid Maker Purdue

    Consulting giant McKinsey & Co. will pay $650 million to resolve charges related to its work helping Purdue Pharma market and boost sales of OxyContin, federal prosecutors announced Friday.

  • December 12, 2024

    North Koreans Infiltrated US IT Jobs In $88M Scheme, Feds Say

    Fourteen North Koreans have been indicted in Missouri federal court on charges related to a long-running scheme to obtain remote information technology jobs at U.S. companies and nonprofit organizations, raking in at least $88 million for the regime, the U.S. Department of Justice announced Thursday.

  • December 12, 2024

    WGA Urges Major Studios To Take Legal Action Over AI 'Theft'

    The Writers Guild of America on Wednesday called on several major entertainment studios to swiftly take legal action against technology companies they assert are stealing writers' works to train artificial intelligence systems and making billions of dollars from the "wholesale theft."

  • December 12, 2024

    Cantor Fitzgerald To Pay SEC $6.75M Over SPAC Disclosures

    Cantor Fitzgerald on Thursday agreed to pay a $6.75 million penalty to the U.S. Securities and Exchange Commission to resolve claims that it caused two special purpose acquisition companies that it controls to make misleading statements to investors ahead of the SPACs' initial public offerings.

  • December 12, 2024

    Vidal Reflects On USPTO Achievements As She Leaves Office

    Kathi Vidal will serve her last day as U.S. Patent and Trademark Office director on Friday and rejoin her former firm, Winston & Strawn LLP, on Monday. She talked to Law360 as she prepared her exit from the agency, with internal changes top of mind as she looked back on her tenure.

  • December 12, 2024

    Align Tech's $27.5M Antitrust Deal Hits Nerve With Judge

    A California federal judge said Thursday that a proposed $27.5 million deal for teeth-aligner buyers to resolve antitrust claims alleging Align Technologies Inc. colluded with the now-bankrupt SmileDirectClub to illegally restrict competition might be "inherently improper" due to a coupon component that "would bring additional business to the monopolist."

  • December 12, 2024

    Keller Postman Sues Jenner & Block In Escalating Tubi Fight

    Keller Postman LLC added a new front Wednesday to its heated legal fight with Jenner & Block LLP, filing a California state court lawsuit accusing the BigLaw firm of employing a host of unethical tactics to gain leverage in mass arbitration against the streaming service Tubi.

  • December 12, 2024

    DOJ Seizes Rydox Cybercrime Site, Charges Administrators

    A Pennsylvania federal judge on Thursday unsealed an indictment charging two Kosovo citizens who ran the illicit website Rydox with multiple criminal counts after the U.S. government seized the website, which has been used by cybercriminals to buy and sell thousands of Americans' personal information and dating profiles.

  • December 12, 2024

    SEC Will Be GOP-Only Without Crenshaw's Vote, Groups Warn

    More than 40 organizations sent a collective letter to U.S. senators in support of Democrat Caroline Crenshaw's reconfirmation to the U.S. Securities and Exchange Commission on Thursday, a day after Senate Republicans blocked a closed-door vote on her nomination.

Expert Analysis

  • Mental Health First Aid: A Brief Primer For Attorneys

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    Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.

  • Licensing And Protections For Voice Actors In The Age Of AI

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    While two recently enacted California laws and other recent state and federal legislation largely focus on protecting actors and musicians from the unauthorized use of their digital likenesses by generative artificial intelligence systems, the lesser-known community of professional voice actors also stands to benefit, says attorney Scott Mortman.

  • Series

    Calif. Banking Brief: All The Notable Legal Updates In Q3

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    In the third quarter of the year, California continued to be at the forefront of banking regulation as it enacted legislation on unfair banking practices and junk fees, and the state Department of Financial Protection and Innovation notably initiated enforcement actions focused on crypto-assets and student loan debt relief, say Stuart Richter and Eric Hail at Katten.

  • John Deere Penalty Shows Importance Of M&A Due Diligence

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    The U.S. Securities and Exchange Commission's recent $10 million penalty against John Deere underscores the risks of not conducting robust preacquisition due diligence and not effectively integrating a new subsidiary into the existing compliance framework, say attorneys at Ropes & Gray.

  • Opinion

    FTC's Report Criticizing Drug Middlemen Is Flawed

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    The Federal Trade Commission's July report, which claims that pharmacy benefit managers are inflating drug costs, does not offer a credible analysis of PBMs, and its methodology lacks rigor, says Jay Ezrielev at Elevecon.

  • 2 High Court Securities Cases Could Clarify Pleading Rules

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    In granting certiorari in a pair of securities fraud cases against Facebook and Nvidia, respectively, the U.S. Supreme Court has signaled its intention to align interpretations of the heightened pleading standard under the Private Securities Litigation Reform Act amid its uneven application among the circuit courts, say attorneys at V&E.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q3

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    In a relatively light few months for banking legal updates in New York, the state Department of Financial Services previewed its views on banking sector artificial intelligence use via insurer guidance, and an anti-money laundering enforcement action underscored the importance of international monitoring processes, say Eric McLaughlin and Dana Bayersdorfer at Davis Polk.

  • Series

    Collecting Art Makes Me A Better Lawyer

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    The therapeutic aspects of appreciating and collecting art improve my legal practice by enhancing my observation skills, empathy, creativity and cultural awareness, says attorney Michael McCready.

  • Del. Dispatch: Cautionary Tales Of 2 Earnout Effort Breaches

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    The Delaware Court of Chancery's tendency to interpret earnout provisions precisely as written, highlighted in two September rulings that found buyers breached their shareholder obligations when they failed to make reasonable efforts to hit certain product development milestones, demonstrates the paramount importance of precisely wording these agreements, say attorneys at Fried Frank.

  • Series

    A Day In The In-House Life: Best Egg CLO Talks Power Of Prep

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    On a typical Monday in her life, Best Egg Chief Legal Officer Amy Thoreson Long chronicles a remote workday in which she makes time for everything from getting ahead on regulatory issues and researching recent Supreme Court decisions to dog walks and podcast breaks.

  • The Trade And Tax Issues Behind US-Canada Digital Tax Clash

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    The new Canadian digital services tax recently went into effect despite objections from the U.S., a controversy that represents an unusual mix of trade and tax policy, and many companies have been pondering how it will affect their e-commerce businesses, says Damon Pike at BDO.

  • Secret Service Failures Offer Lessons For Private Sector GCs

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    The Secret Service’s problematic response to two assassination attempts against former President Donald Trump this summer provides a crash course for general counsel on how not to handle crisis communications, says Keith Nahigian at Nahigian Strategies.

  • Opinion

    Bill Is Key To Protecting US Economy From Patent Piracy

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    It is critical that Congress pass a recently introduced bill that would protect U.S. investors from intellectual property theft by restoring court-ordered injunctions as the default remedy in patent infringement cases to ensure inventors get the justice they deserve, says Andrei Iancu at Sullivan & Cromwell.

  • Series

    Colorado Banking Brief: All The Notable Legal Updates In Q3

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    In the third quarter of 2024, Colorado's banking and financial services sector faced both regulatory updates and changes to state law due to recent federal court decisions — with consequences for local governments, mortgage lenders, state-chartered trust companies and federally chartered lenders serving Colorado consumers, says Sarah Auchterlonie at Brownstein Hyatt.

  • Takeaways From TOTSA Settlement And Critical CFTC Dissent

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    The U.S. Commodity Futures Trading Commission's recent settlement with TOTSA highlights the agency's commitment to enforcing market integrity and deterring manipulative practices, while Commissioner Caroline Pham's dissent to the settlement spotlights the need for transparency and consistency in enforcement actions, say attorneys at Davis Wright.

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