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August 12, 2024
TikTok Hit With Another Children's Privacy Breach Suit
A group of parents has filed a proposed class action against TikTok and its parent company in California federal court alleging invasion of privacy and unfair business practices targeting millions of children under age 13 across the United States.
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August 12, 2024
UK Competition Watchdog Looking Into $35B Software Deal
The U.K.'s competition regulator said Monday it is delving into whether Synopsys Inc.'s $35 billion acquisition of Ansys Inc. will hurt competition in the region.
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August 12, 2024
States Oppose Shkreli High Court Bid For $64M Disgorgement
State enforcers are opposing a petition from ex-pharmaceutical executive Martin Shkreli asking the U.S. Supreme Court to review a disgorgement order requiring him to pay up to $64 million for an alleged scheme to increase the price of a life-saving drug by 4,000%
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August 12, 2024
Transparency Act Snowball Fears A 'Mirage,' Treasury Says
The U.S. Department of the Treasury is seeking to quell fears that the Corporate Transparency Act's disclosure requirements could set the stage for more invasive government data collection in a brief asking a Michigan federal judge to uphold the law as constitutional.
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August 12, 2024
Beyond Meat Escapes Investor Suit Over Production Woes
A California federal judge has tossed a proposed class action accusing vegan burger manufacturer Beyond Meat of securities fraud, saying investors will need to be more specific about what the company's CEO knew at the time he touted the company's allegedly faltering partnerships with fast-food restaurants like McDonald's.
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August 12, 2024
Healthcare Co. To Pay Atty Fees In Suit Over Board Diversity
A Maryland federal judge has awarded $850,000 in attorney fees to an Omega Healthcare shareholder who filed a derivative suit against the healthcare investment trust alleging it had a discriminatory policy aimed at keeping Black individuals from being appointed to its board of directors.
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August 12, 2024
Fusion Tech Co. Finds GC In Ex-MacAndrews & Forbes Exec
Wisconsin-based SHINE Technologies has found its new top attorney in a veteran in-house leader who previously worked at billionaire investor Ronald O. Perelman's MacAndrews & Forbes Inc.
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August 12, 2024
Catching Up With Delaware's Chancery Court
Multimillion-dollar share conversions, power struggles in a classic rock band, a good deal for fandom collectibles, and a pindown by two heavyweights were all part of the spectacle in Delaware's Court of Chancery last week. New cases involved pharmaceutical companies, cannabis, drones and liquid-gas exports. In case you missed it, here's the latest from the Chancery Court.
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August 12, 2024
Big Tobacco To Pay $600M In 'Historic' Mass. Deal
Philip Morris Inc. and RJ Reynolds Tobacco Co. will pay nine-figure sums as part of a $600 million settlement between Massachusetts and major tobacco companies that resolves yearslong disputes about how much the cigarette makers owe, the state attorney general announced Monday.
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August 12, 2024
Top Immigration Policies To Watch In The 2nd Half Of 2024
The final months of the Biden administration could bring last-minute policymaking to address worker shortages, while new asylum restrictions could be solidified along with a program to offer protections and work permits to unauthorized spouses of U.S. citizens.
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August 09, 2024
Ex-Twitter Board Member Says X Owes Him $23M From Stock
A former member of Twitter's board of directors who helped oversee the sale of the social media company to Elon Musk in 2022 claimed X Corp. owes him more than $23 million worth of vested and unvested shares, according to a lawsuit filed in California state court.
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August 09, 2024
Google Beats Users' Challenge To Apple Pact, For Now
A California federal judge on Friday dismissed, for now, consumers' suit alleging that Google made an illegal pact with Apple to serve as the iPhone's default search engine, a decision that comes days after a D.C. federal court held that Google is a monopolist in a separate antitrust case.
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August 09, 2024
Real Estate Recap: Big 4 Market Views, Gas-Ban Backfire, AI
Catch up on this week's key developments by state from Law360 Real Estate Authority — including what the largest commercial real estate brokers expect from capital markets in the second half of the year, how municipalities are reacting to the Ninth Circuit striking down Berkeley, California's natural gas-hookup ban, and why Brookfield Corp. is betting big on AI.
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August 09, 2024
Takeda Should Face Certified Antitrust Classes, Judge Says
A New York federal judge on Friday recommended certifying two classes of direct purchasers and end payors in consolidated antitrust actions accusing Takeda Pharmaceuticals Co. of unlawfully inflating the price of its diabetes treatment Actos by delaying entry of generic alternatives.
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August 09, 2024
Ripple Claims Victory In SEC Suit But Paid A Price
Ripple Labs Inc. celebrated the end of its legal battle with the U.S. Securities and Exchange Commission as a "clear victory" that cut through the regulator's bid for $2 billion over the exchange's unregistered institutional sales of its XRP token, but experts told Law360 the $125 million fine and injunction Ripple faces is much more than a speeding ticket to end a costly four-year battle.
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August 09, 2024
SEC Settles With EV Fleet Co., 3 Execs For More Than $5M
Electric vehicle company Ideanomics and its former CEO Bruno Wu, a wealthy Chinese entrepreneur, have agreed along with other executives to pay a combined roughly $5.1 million to settle U.S. Securities and Exchange Commission claims of accounting and disclosure fraud, the agency said Friday.
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August 09, 2024
VLSI Sues USPTO For Records Related To Intel IP Disputes
VLSI Technology has sued the U.S. Patent and Trademark Office and the U.S. Department of Commerce in D.C. federal court claiming the agencies have stalled on its public records request for documents relating to ongoing litigation involving Intel Corp. and the invalidation of one of VLSI's microchip patents.
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August 09, 2024
Top 4 Gov't Contracting Policies Of 2024: Midyear Report
Federal agencies have made several prominent policy moves affecting contractors this year, headlined by programs incentivizing whistleblowers to come forward with information about contracting fraud, tweaks to a wide-ranging cybersecurity standard, and guidance for how agencies should purchase generative tools. Here, Law360 examines four significant policy changes from the first half of 2024 that will affect government contractors.
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August 09, 2024
Tesla Can't Duck Workers' PAGA Case Under Anti-SLAPP
A California appellate court has rejected Tesla's attempt to ditch a Private Attorneys General Act case brought by former employees seeking personnel records, agreeing with a lower court that the workers' status as members of a class in a related action against Tesla doesn't entitle the electric-car maker to protection under anti-SLAPP.
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August 09, 2024
SVB's $1.9B FDIC Suit Won't Open 'Floodgates,' Judge Says
A California federal judge trimmed claims from the parent of Silicon Valley Bank's lawsuit against the Federal Deposit Insurance Corp. seeking $1.93 billion, but rejected the agency's arguments that allowing some claims to move forward will "open the floodgates" for every failed bank's uninsured depositors to bring a claim.
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August 09, 2024
Employment Authority: Sex Work Boosted By Calif. Law
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on how erotic dancers have gained more professional respect from a new worker classification law in California, an Eighth Circuit ruling's worker-friendly effect on a law barring arbitration of sex misconduct claims and a run-down on the progressive employment record of Vice President Kamala Harris' running mate.
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August 09, 2024
Biotech Firms Mull Acquisition Offers Amid Shaky IPO Climate
Amid a shaky outlook for initial public offerings, more private biotechnology firms are exploring acquisition offers from larger pharmaceutical companies as a more certain exit strategy, according to experts who advise emerging drug developers.
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August 09, 2024
6th Circ. Partially Revives Crypto IRS Reporting Challenge
The Sixth Circuit issued a mixed ruling Friday in a suit brought by a group of cryptocurrency users challenging the IRS' pending mandate to report large crypto transactions, reversing the dismissal of the suit's Fourth and First Amendment violation claims but affirming that some of the case's claims are not ripe.
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August 09, 2024
Royal Match Game App Fosters Gambling Addiction, Suit Says
A Washington state woman has filed a proposed class action against a Turkish developer, saying it violates state gambling laws with its allegedly addictive Royal Match mobile game that requires players to purchase virtual gold coins for continuous play.
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August 09, 2024
5 Immigration Policy Developments Of 2024: A Midyear Report
President Joe Biden addressed competing election year priorities by curbing asylum and boosting protections for foreign spouses of U.S. citizens, while his administration implemented higher immigration fees and overhauled the H-1B lottery process. Here, Law360 takes a look at five of the most significant immigration policy developments of 2024 so far.
Expert Analysis
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Lead Like 'Ted Lasso' By Embracing Cognitive Diversity
The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.
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3 Areas Of Enforcement Risk Facing The EV Industry
Companies in the EV manufacturing ecosystem are experiencing a boom in business, but with this boom comes increased regulatory and enforcement risks, from the corruption issues that have historically pervaded the extractive sector to newer risks posed by artificial intelligence, say attorneys at MoFo.
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Preparing For Increased Scrutiny Of Tech Supply Chains
The U.S. Department of Commerce's recent action prohibiting sales of a Russia-based technology company's products in the U.S. is the first determination under the information technology supply chain rule, and signals plans to increase enforcement of protections that target companies in designated foreign adversary jurisdictions, say attorneys at Debevoise.
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2 Lessons From Calif. Overtime Wages Ruling
A California federal court's recent decision finding that Home Depot did not purposely dodge overtime laws sheds light on what constitutes a good faith dispute, and the extent to which employers have discretion to define employees' workdays, says Michael Luchsinger at Segal McCambridge.
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Boeing Plea Deal Is A Mixed Bag, Providing Lessons For Cos.
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.
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American Airlines ESG Ruling Could Alter ERISA Landscape
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.
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How In-House IP Counsel Can Deal With AI's Rise
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.
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SVB Ch. 11 Shows Importance Of Filing Proof Of Claim Early
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.
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Justices' Starbucks Ruling May Limit NLRB Injunction Wins
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.
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Del. Dispatch: 27.6% Stockholder Not A Controller
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.
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Takeaways From EU's Initial Findings On Apple's App Store
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.
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25 Years Of OECD's Anti-Bribery Convention
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.
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Cyber Incident Response Checklist For SEC Compliance
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.
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Series
After Chevron: Bid Protest Litigation Will Hold Steady For Now
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.
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Dueling Calif. Rulings Offer Insight On 401(k) Forfeiture Suits
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.