Corporate

  • September 20, 2024

    Ex-Healthcare Exec Can't Sue GC Over Probe Advice

    A former Baxter International treasurer who was fired amid an investigation into improper foreign exchange transactions was correctly blocked from pursuing claims against the healthcare company and its general counsel over advice he received on navigating the probe, an Illinois appellate panel said Friday.

  • September 20, 2024

    2 SEC Commissioners Object To Whistleblower Award Secrecy

    U.S. Securities and Exchange Commissioners Mark Uyeda and Hester Peirce have objected to the agency's recent decision to hand out a total of $122 million in two awards to four whistleblowers and issued a statement taking issue with the regulator's policy of saying little to nothing about why the rewards are issued.

  • September 20, 2024

    Silvergate Wants Activist Investor's Board Seat Play Blocked

    The parent company of Silvergate Bank, a defunct bank that catered to the cryptocurrency industry, has asked the judge in its Delaware bankruptcy case to help head off what it described as an activist investor's effort to score a seat on the debtor's board so he can try to secure a payout for shareholders who are set to receive nothing under a Chapter 11 plan.

  • September 20, 2024

    J&J Makes Third Try At Handling Talc Claims In Bankruptcy

    A Johnson & Johnson talc unit filed for Chapter 11 protection in Texas bankruptcy court Friday, marking the third time the company has tried to deal with liability from alleged asbestos-contaminated talc with a bankruptcy filing.

  • September 20, 2024

    Microsoft Accused Of Racial Bias By Ex-Diversity Professional

    A former Microsoft employee tasked with helping advance diversity and inclusion efforts has filed a discrimination suit in Washington state court accusing the tech giant of an "ongoing campaign of intimidation, discrimination, and retaliation" against its Black female employees.

  • September 20, 2024

    Panera Can't Delay Trial Over Shook Hardy Attys' Schedule

    A Pennsylvania federal judge denied Panera Bread's repeated requests to delay a wrongful death trial, finding the restaurant chain will not be prejudiced if its desired Shook Hardy & Bacon LLP counsel cannot attend, as "plenty" of Shook Hardy lawyers can stand in, the judge said.

  • September 20, 2024

    Meruelo Group CLO Returns To Ballard Spahr As Partner

    A longtime Ballard Spahr attorney who spent the past three years as chief legal officer at the Meruelo Group this week began his second stint as a partner at the law firm.

  • September 20, 2024

    Ex-Stradley Ronon Securities Leader Joins Chapman In DC

    An attorney with more than two decades of experience in investment securities has moved his practice to Chapman and Cutler LLP's Washington, D.C., office after 22 years with Stradley Ronon Stevens & Young LLP.

  • September 20, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    The SEC will likely need to clear up confusion about fiduciary investment advice standards after two judges halted new retirement security regulations from the Labor Department. Meanwhile, the changing cyberinsurance market heads for what could be a seismic shift, as more insurers scale back standard IT breach policies. These are among the stories in corporate legal news you may have missed in the past week.

  • September 20, 2024

    Steel Biz Investors Sue Atty Over 'Father-Son'-Like Conflict

    A Pennsylvania couple have filed a malpractice suit accusing a lawyer of helping a steel distribution company induce them into investing about $800,000 and defrauding them, saying the attorney didn't disclose his relationship with the company's owners and "father-son"-like bond with one of them.

  • September 20, 2024

    FTC Accuses Drug Middlemen Of Raising Insulin Prices

    The Federal Trade Commission on Friday accused the three largest pharmacy benefits managers, Caremark Rx, Express Scripts and OptumRx, of artificially inflating insulin prices by relying on unfair rebate schemes that hurt competition.

  • September 19, 2024

    Publishers 'Did Not Trust Google,' Former Ad Tech Exec Says

    A former Google executive acknowledged Thursday that at least some website publishers sought a workaround to the search giant's advertising placement technology because they didn't trust the company's consolidated control, which the Justice Department has challenged in a Virginia federal courtroom.

  • September 19, 2024

    Republicans Air Grievances At House Hearing on FTC Practices

    The Federal Trade Commission ought to stick to combating consumer scams and leave the competition regulation alone — that was the general tenor of Republicans on Wednesday morning at a House hearing about the agency's past and present practices.

  • September 19, 2024

    Chancery Fast-Tracks Suit Over Renewable Energy Co. Buyout

    Delaware's Court of Chancery on Thursday expedited a lawsuit accusing a Repsol SA subsidiary of breaching an agreement requiring it to buy out the remaining shares in a Chicago-based renewable energy venture the Repsol unit co-owns.

  • September 19, 2024

    Birkin Bag Lovers Must Rework Antitrust Suit, Judge Says

    A California federal judge said Thursday that consumers behind a proposed antitrust class action accusing Hermes of unlawfully tying the sale of its iconic Birkin handbag to other expensive items should amend their complaint, since the current version doesn't show how the luxury fashion retailer has foreclosed competition.

  • September 19, 2024

    Publishers Back Music Companies' Bid To Restore $1B Win

    Organizations that represent music publishers and songwriters urged the U.S. Supreme Court on Thursday to review a Fourth Circuit ruling that scrapped a $1 billion jury verdict against Cox Communications Inc. for ignoring online piracy, saying the three-judge appeal panel's conclusion "effectively immunizes internet service providers" from vicarious liability.

  • September 19, 2024

    Apple's $490M Deal Over China Sales OK'ed, Attys Get $110M

    A California federal judge approved Apple Inc.'s $490 million securities fraud settlement under which class counsel will receive $110.45 million in fees and costs plus interest, resolving years-old litigation alleging Apple and its top brass misled investors about iPhone sales in China.

  • September 19, 2024

    Potomac Law Group Adds Morgan Lewis Partner

    A former Morgan Lewis & Bockius LLP real estate attorney has joined Potomac Law Group, framing the move as a strategic shift out of BigLaw amid a "sluggish" transactional environment.

  • September 19, 2024

    NC Justice Dept. Resolves Atty's Sex, Race Bias Suit

    The North Carolina Department of Justice agreed to settle a Black attorney's lawsuit alleging she was passed over for promotion in favor of a less qualified white man, according to court filings, just weeks after a federal judge refused to toss the case.

  • September 19, 2024

    Senate Panel Holds Steward CEO In Contempt After No-Show

    A U.S. Senate committee voted unanimously Thursday to hold Steward Health Care CEO Ralph de la Torre in civil and criminal contempt after he defied a subpoena to testify about the bankrupt health system's downfall.

  • September 19, 2024

    Insurance Mogul Takes $166M Arbitration Loss To 4th Circ.

    Convicted insurance mogul Greg Lindberg is looking to overturn a $166 million arbitral award favoring defunct Dutch life insurer Conservatrix after a North Carolina federal judge found the proceedings were conducted fairly.

  • September 19, 2024

    'Biblical Values' Firm To Pay $300K For Misleading Investors

    The U.S. Securities and Exchange Commission on Thursday order Idaho-based investment adviser Inspire Investing LLC to pay a $300,000 fine on allegations it made misleading statements and failed to institute compliance measures related to the firm's execution of its "biblically responsible investing" strategy.

  • September 19, 2024

    Hormel Foods Can't Beat Retirement Fund Management Suit

    Hormel Foods Corp. can't avoid a proposed class action claiming it failed to remove high-cost investment options with poor return rates from its $1.2 billion retirement plans, with a Minnesota federal judge ruling the worker leading the suit identified suitably comparable funds that performed better.

  • September 19, 2024

    Ex-Williams Sonoma Worker Bilked $11M In Scam, Feds Say

    A former Williams Sonoma employee was indicted in California federal court over a yearslong scheme in which he allegedly defrauded the company out of $11 million after submitting fraudulent invoices for work that was never performed by a fictitious staffing business he secretly owned, the U.S. Attorney's Office announced.

  • September 19, 2024

    Live Nation Looks To Trim Gov't Antitrust Case

    Live Nation has asked a New York federal court to toss claims seeking damages in the government's antitrust case, arguing that consumers were not harmed by its dealings with concert venues and promoters, and also asked to nix a tying claim from the case.

Expert Analysis

  • Boeing Plea Deal Is A Mixed Bag, Providing Lessons For Cos.

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    The plea deal for conspiracy to defraud regulators that Boeing has tentatively agreed to will, on the one hand, probably help the company avoid further reputational damage, but also demonstrates to companies that deferred prosecution agreements have real teeth, and that noncompliance with DPA terms can be costly, says Edmund Vickers at Red Lion Chambers.

  • American Airlines ESG Ruling Could Alter ERISA Landscape

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    The Spence v. American Airlines ESG trial, speeding toward a conclusion in a Texas federal court, could foretell a dramatic expansion in ERISA liability, with plan sponsors vulnerable to claims that they didn't foresee short-term dips in stock prices, say attorneys at Mayer Brown.

  • How In-House IP Counsel Can Deal With AI's Rise

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    Generative artificial intelligence is poised to revolutionize intellectual property law, especially for smaller and midsize enterprises, meaning IP in-house counsel need to prioritize AI implementation to navigate the coming changes, says Friedrich Laub at Diasorin.

  • SVB Ch. 11 Shows Importance Of Filing Proof Of Claim Early

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    After a New York bankruptcy court’s recent ruling in SVB’s Chapter 11 case denied late claims filing requests related to post-bar date events, parties with potential claims against a debtor may need to seriously consider filing protective proofs of claim, says Kyle Arendsen at Squire Patton.

  • Justices' Starbucks Ruling May Limit NLRB Injunction Wins

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    The U.S. Supreme Court’s recent decision in Starbucks v. McKinney, adopting a more stringent test for National Labor Relations Board Section 10(j) injunctions, may lessen the frequency with which employers must defend against injunctions alongside parallel unfair labor practice charges, say David Pryzbylski and Colleen Schade at Barnes & Thornburg.

  • Del. Dispatch: 27.6% Stockholder Not A Controller

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    The Delaware Court of Chancery's recent decision in Sciannella v. AstraZeneca — which found that the pharma giant, a 26.7% stockholder of Viela Bio Inc., was not a controller of Viela, despite having management control — shows that overall context matters when challenging transactions on breach of fiduciary duty grounds, say attorneys at Fried Frank.

  • Takeaways From EU's Initial Findings On Apple's App Store

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    A deep dive into the European Commission's recent preliminary findings that Apple's App Store rules are in breach of the Digital Markets Act reveal that enforcement of the EU's Big Tech law might go beyond the literal text of the regulation and more toward the spirit of compliance, say William Dolan and Pratik Agarwal at Rule Garza.

  • 25 Years Of OECD's Anti-Bribery Convention

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    Marking its 25th anniversary this year, the Organization for Economic Cooperation and Development's anti-bribery convention has advanced legislative reforms and reshaped corporate conduct in dozens of countries amid the persistent challenges of uneven enforcement and political pressure, say attorneys at Debevoise.

  • Cyber Incident Response Checklist For SEC Compliance

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    In light of recent guidance from the U.S. Securities and Exchange Commission, which clarified the distinction between two types of cybersecurity incident disclosures, companies should align their materiality assessment, incident response and disclosure control processes to bolster compliance and provide a measure of protection, say attorneys at Troutman Pepper.

  • Series

    After Chevron: Bid Protest Litigation Will Hold Steady For Now

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    Though the substantive holding of Loper Bright is unlikely to affect bid protests because questions of statutory interpretation are rare, the spirit of the U.S. Supreme Court's decision may signal a general trend away from agency deference even on the complex technical issues that often arise, say Kayleigh Scalzo and Andrew Guy at Covington.

  • Dueling Calif. Rulings Offer Insight On 401(k) Forfeiture Suits

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    Two recent decisions from California federal courts regarding novel Employee Retirement Income Security Act claims around 401(k) forfeitures provide early tea leaves for companies that may face similar litigation, offering reasons for both optimism and concern over the future direction of the law, say Ashley Johnson and Jennafer Tryck at Gibson Dunn.

  • 1 Year At The UPC: Implications For Transatlantic Disputes

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    In its first year, the Unified Patent Court has issued important decisions on procedures like provisional measures, but complexities remain when it comes to coordinating proceedings across jurisdictions like the U.S. due to differences in timelines and discovery practices, say attorneys at McDermott.

  • Opinion

    H-2 Visas Offer Humane, Economic Solution To Border Crisis

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    Congress should leverage the H-2 agricultural and temporary worker visa programs to match qualified migrants with employers facing shortages of workers — a nonpolitical solution to a highly divisive humanitarian issue, say Ashley Dees and Jeffrey Joseph at BAL.

  • PAGA Reforms Encourage Proactive Employer Compliance

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    Recently enacted reforms to California's Private Attorneys General Act should make litigation under the law less burdensome for employers, presenting a valuable opportunity to streamline compliance and reduce litigation risks by proactively addressing many of the issues that have historically attracted PAGA claims, say attorneys at Mintz.

  • Opinion

    Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

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