Corporate

  • June 12, 2024

    Terraform To Settle With SEC For $4.5B After Fraud Trial

    Crypto firm Terraform Labs has agreed to a $4.47 billion settlement with the U.S. Securities and Exchange Commission after a Manhattan jury found the firm and its founder Do Kwon liable for fraud in April.

  • June 12, 2024

    Ashley Furniture Faces Data Breach Suit Over 2023 Hack

    Ashley Furniture customers hit the home furnishing retailer with a proposed class action in Texas federal court Monday, accusing the company of negligence over its failure to safeguard their personal information — which was compromised during a cyberattack a year ago — and of waiting months to notify them.

  • June 12, 2024

    Matador Paying $1.9B For EnCap Delaware Basin Assets

    Dallas-based Matador Resources Co. said Wednesday it has agreed to pay just over $1.9 billion for a subsidiary of the EnCap Investments portfolio company Ameredev II Parent, taking control of oil and natural gas producing properties across the Delaware Basin.

  • June 12, 2024

    FBI Told OneTaste Witness To Delete Evidence, Ex-Execs Say

    Two former executives of sexual wellness company OneTaste Inc. said they uncovered "shocking" evidence that an FBI agent told a former employee of the business and key government witness to delete an old email account, allegedly destroying exculpatory evidence in a forced-labor conspiracy case.

  • June 12, 2024

    Adams And Reese Hires Atlas Air Atty In Nation's Capital

    Adams and Reese LLP has hired a former Atlas Air Inc. labor and employment counsel, who is joining the firm in Washington, D.C., to grow the firm's newly launched aviation and aerospace team, the firm announced Wednesday.

  • June 12, 2024

    Former Illinois Dept. Of Revenue GC Rejoins Baker McKenzie

    The former general counsel at the Illinois Department of Revenue has rejoined Baker McKenzie as a transactional group partner in Chicago, the firm said Wednesday.

  • June 12, 2024

    Nike 'Footware' TM Too Descriptive To Defeat Puma Challenge

    Nike cannot resurrect its trademark for the phrase "footware," a European Union court ruled on Wednesday, siding with rival Puma that the word was too descriptive to warrant intellectual property protections.

  • June 12, 2024

    BHS Ruling A 'Coup For Liquidators' Over Director Duties

    A landmark ruling that found two directors liable for the collapse of a U.K. retailer and ordered them to repay a chunk of the losses highlights the limited reliance that directors can place on professional advice and a lack of experience to avoid responsibility.

  • June 12, 2024

    Pillsbury Adds Aviation-Focused Bankruptcy Partner In NY

    Pillsbury Winthrop Shaw Pittman LLP has hired a corporate restructuring partner with aviation expertise for its insolvency and restructuring group in New York.

  • June 12, 2024

    Shareholders To Settle Discovery-AT&T Merger Suit In Del.

    Former shareholders of Discovery Inc. who sued in Delaware's Court of Chancery over the media entertainment company's $43 billion merger with AT&T in 2022 have agreed to settle their class action and intend to finalize settlement documentation by July 5, the parties told the court late on Tuesday.

  • June 12, 2024

    2nd Circ. Partially Nixes Injunction Over Amazon Firing

    The Second Circuit vacated on Wednesday a New York federal judge's order barring Amazon from firing workers for engaging in union activity, saying the judge did not explain why she imposed the broad prohibition while at the same time finding the company did not have to rehire a fired union activist.

  • June 11, 2024

    Bed Bath & Beyond Investor Defeats 'Short-Swing' Profits Suit

    A New York federal judge on Tuesday threw out Bed Bath & Beyond investors' suit accusing activist investor Ryan Cohen of buying and selling his stock too quickly, finding the claims moot in light of the retailer's Chapter 11 bankruptcy plan.

  • June 11, 2024

    Alston Steers Transport Co. Coach Through Ch. 11

    Bus company Coach USA Inc. announced Tuesday that it filed for Chapter 11 protection in Delaware bankruptcy court, saying it has struck asset purchase agreements to preserve jobs and continue offering its ground passenger transportation services.

  • June 11, 2024

    Musk Drops Suit Against OpenAI On Eve Of Dismissal Hearing

    Elon Musk on Tuesday voluntarily dismissed his suit accusing former business partner and OpenAI CEO Sam Altman of betraying his promises to run the artificial intelligence operation as a nonprofit, a move that comes the day before a hearing was set on OpenAI's dismissal bid.

  • June 11, 2024

    Amplitude Execs Face Suit Over Post-IPO Share Inflation

    Current and former insiders of business software maker Amplitude were hit with a shareholder derivative suit claiming they profited from misrepresentations they made about the likelihood of the company sustaining its revenue growth following its initial public offering.

  • June 11, 2024

    NFL Sunday Ticket Monopoly Cost Fans $7B, Expert Testifies

    An economist testifying as an expert for the plaintiffs in a California federal trial over multibillion-dollar antitrust claims brought against the NFL by DirecTV Sunday Ticket subscribers said Tuesday that subscribers suffered over $7 billion in damages from DirecTV's alleged monopoly on the television package.

  • June 11, 2024

    Tyco's $750M PFAS Deal In Foam Co. MDL Gets Initial OK

    A South Carolina federal judge gave his blessing Tuesday to the $750 million settlement Johnson Controls International PLC subsidiary Tyco Fire Products LP entered to resolve public water systems' federal claims that some forever chemicals they detected in their supplies came from firefighting foam it made.

  • June 11, 2024

    2nd Circ. Cites Macquarie In Booting Suit Over Go-Private Deal

    The Second Circuit refused to revive a proposed class action accusing a real estate services provider of artificially depressing share prices, applying apparently for the first time the U.S. Supreme Court's Macquarie decision on alleged failures to disclose certain information.

  • June 11, 2024

    Ontrak CEO Told Broker To Sell Shares Quickly, Jury Hears

    A stockbroker testifying Tuesday in the California federal insider trading trial for Ontrak's founder said the executive didn't accept his advice to delay selling shares of the healthcare company to avoid the appearance of trading on insider information, but instead insisted on selling the shares immediately.

  • June 11, 2024

    Quinn Emanuel Swapped Sides For X Suit, Data Co. Says

    Israeli data collector Bright Data Ltd. asked a California federal judge on Tuesday to disqualify law firm Quinn Emanuel Urquhart & Sullivan LLP from representing social media company X Corp., which is suing Bright Data over its data-scraping practices, accusing the firm, which was once contracted by the data company for advice in a similar matter, of switching sides.

  • June 11, 2024

    9th Circ. Judge On Theranos Appeal: 'Good Story' For Holmes

    Two Ninth Circuit judges on a three-judge panel expressed concerns Tuesday that the district judge presiding over convicted former Theranos CEO Elizabeth Holmes' criminal trial erred by allowing a layperson witness to offer expert testimony at trial, with one judge saying, "There's a pretty good story here for Ms. Holmes."

  • June 11, 2024

    DOL's H-2A Protections Rule Flouts Labor Law, GOP AGs Say

    The U.S. Department of Labor's final rule including protections for foreign farmworkers within the H-2A visa program doesn't comport with federal labor law, a group of Republican attorneys general claimed in Georgia federal court, saying the rule doesn't give the same rights to U.S. citizen workers.

  • June 11, 2024

    Granulated Sugar Price-Fixing Cases Centralized In Minn.

    A collection of price-fixing suits against some of the country's biggest refined sugar manufacturers is being consolidated in Minnesota federal court, with the Judicial Panel on Multidistrict Litigation choosing the venue over federal courts in New York.

  • June 11, 2024

    HashiCorp Hit With Investor Suit Over $6.4B Sale To IBM

    Software company HashiCorp Inc. and its board members face an investor suit seeking to halt an upcoming shareholder vote on a proposed $6.4 billion acquisition of HashiCorp by tech giant IBM, alleging the deal would unfairly benefit company insiders and hasn't been properly detailed in required filings.

  • June 11, 2024

    Southwest Ditches 2022 Holiday Mayhem Suit, For Now

    A California federal judge on Tuesday dismissed a group of Southwest Airlines customers' proposed breach of contract class action stemming from massive flight cancellations during the airline's December 2022 holiday-week meltdown but gave the plaintiffs another shot to bolster their claims.

Expert Analysis

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • UK Amazon Ruling Spotlights TM Rights In International Sales

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    Highlighting the conflict between the territorial nature of trademark rights and the borderless nature of the internet, the U.K. Supreme Court's recent decision — that Amazon's U.S. website could infringe EU and U.K. rights by targeting local buyers — offers guidance on navigating trademark rights in relation to online sales, say Emmy Hunt, Mark Kramer and Jordan Mitchell at Potter Clarkson.

  • The Multifaceted State AG Response To New Technologies

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    In response to the growth of technologies like artificial intelligence, biometric data collection and cryptocurrencies across consumer-facing industries, state attorneys general are proactively launching enforcement and regulatory initiatives — including bipartisan investigations and new state AI legislation, say Ketan Bhirud and Emily Yu at Cozen O'Connor.

  • Private Capital Considerations Amid Market Revival

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    As improved market conditions position traditional financing to regain lost market share, it's also worth considering the pace and structure of private credit and other forms of private capital, especially when seeking to set unique terms or build new corporate relationships, say attorneys at Skadden.

  • What NAR Settlement Means For Agent Commission Rates

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    If approved, a joint settlement agreement between the National Association of Realtors and a class of home sellers will likely take the onus off home sellers to compensate buyers' agents, affecting considerations for all parties to real estate transactions, say attorneys at Jones Foster.

  • Opinion

    $175M Bond Refiled By Trump Is Still Substantively Flawed

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    The corrected $175 million bond posted by former President Donald Trump on Thursday to stave off enforcement of the New York attorney general's fraud judgment against him remains substantively and procedurally flawed, as well as inadequately secured, says Adam Pollock of Pollock Cohen.

  • Opinion

    Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 2 Recent Suits Show Resiliency Of Medicare Drug Price Law

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    Though pharmaceutical companies continue to file lawsuits challenging the Inflation Reduction Act, which enables the federal government to negotiate for lower prescription drug prices, recent decisions suggest that the reduced drug prices are likely here to stay, says Jose Vela Jr. at Clark Hill.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • A Look At Recent Challenges To SEC's Settlement 'Gag Rule'

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    Though they have been unsuccessful so far, opponents of the U.S. Securities and Exchange Commission's so-called gag rule, which prevents defendants from denying allegations when settling with the SEC, are becoming increasingly vocal and filing more challenges in recent years, say Mike Blankenship and Regina Maze at Winston & Strawn.

  • Flexibility Is Key In Hybrid Capital Investment Strategies

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    Flexible or hybrid capital funds have become a solution for some owners adverse to private debt or requiring short-term capital support not otherwise available in the market, but the complexity and possible range of structures available means that principals need to consider how they may work in different scenarios and outcomes, says Daniel Mathias at Cohen Gresser.

  • Decoding The FTC's Latest Location Data Crackdown

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    Following the Federal Trade Commission's groundbreaking settlements in its recent enforcement actions against X-Mode Social and InMarket Media for deceptive and unfair practices with regards to consumer location data, companies should implement policies with three crucial elements for regulatory compliance and maintaining consumer trust, says Hannah Ji-Otto at Baker Donelson.

  • How American Airlines ESG Case Could Alter ERISA Liability

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    Spence v. American Airlines, a Texas federal case over the airline's selection of multiple investment funds in its retirement plan, threatens to upend the Employee Retirement Income Security Act's legal framework for fiduciary liability in the name of curtailing environmental, social and governance-related activities, say attorneys at Mayer Brown.

  • Series

    Illinois Banking Brief: All The Notable Legal Updates In Q1

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    In the first quarter of 2024, Illinois lawmakers proposed a stack of bills aimed at modernizing money transmission, digital assets and banking laws, with a particular focus on improving consumer protections and better defining the state’s authority to regulate digital services, say James Morrissey and Mark Svalina at Vedder Price.

  • Patent Ownership Issues In Light Of USPTO AI Guidance

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    Recently published guidance from the U.S. Patent and Trademark Office establishes that inventions created using artificial intelligence may be patentable if a human also significantly contributes, but ownership and legal rights in these types of patents are different issues that require further assessment, says Karl Gross at Leydig Voit.

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