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June 11, 2024
Archegos Boss Got Angry Over Bathroom Breaks, Jury Told
A former protégé of Archegos founder Bill Hwang told the Manhattan federal jury hearing the $36 billion market distortion case against Hwang on Tuesday that his former boss was so hands-on that he would get mad when workers used the bathroom.
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June 11, 2024
J&J Inks $700M Deal To End AGs' Talc Marketing Suits
Forty-three state attorneys general on Tuesday said there has been a $700 million nationwide settlement and a consent judgment has been reached with Johnson & Johnson that ends claims it misled consumers about the safety of its talc products.
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June 11, 2024
Elon Musk Sued Anew In Del. Over $16B Tesla Stock Sale
A Tesla shareholder has hit Elon Musk with a lawsuit over his 2021 sale of $16 billion worth of stock just before his purchase of Twitter, claiming the billionaire profited by concealing his intent to buy the social media platform and made the purchase in part to reinstate former President Donald Trump's account.
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June 11, 2024
Pepsi Bottling Partner Hit With Pollutant Lawsuit In Mass.
A Massachusetts environmental advocacy group has followed through on plans to sue a bottler of Pepsi products over alleged violations of the Clean Water Act, but a lawyer for the Conservation Law Foundation says the organization is "optimistic" it will be able to resolve the issue.
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June 10, 2024
Privacy Law Needs Broader State Override, Trade Groups Say
Nearly two dozen business groups are calling on Congress to expand the preemption provisions in proposed legislation to give consumers more control over their personal information, arguing that the current draft "falls short" of creating a uniform national data privacy framework by failing to fully override the emerging state law patchwork.
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June 10, 2024
Microsoft Wants $242M IP Verdict Axed Or Cut To $1.9M
Microsoft has urged a Delaware federal judge to toss a $242 million jury verdict that found Microsoft's virtual assistant Cortana infringed a patent originally issued to a company that developed Apple's Siri software, arguing infringement wasn't proven and the "grossly inflated" award should at least be cut to $1.95 million.
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June 10, 2024
5 Teva Inhaler Patents Kicked Out Of Orange Book
A New Jersey federal judge said Monday that a handful of patents covering Teva-brand asthma inhalers were "improperly listed in the Orange Book," a legal holding that U.S. Federal Trade Commission Chair Lina Khan quickly took some credit for.
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June 10, 2024
Calif. Targets Oil Giants' Profits In Amended Climate Suit
California Attorney General Rob Bonta on Monday tweaked the state's climate deception suit against Exxon Mobil Corp., Shell, Chevron, ConocoPhillips and BP to also target the oil and gas companies' "illegally obtained" profits under a recently enacted state law.
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June 10, 2024
Debevoise Aims To Sink Cognizant Bribery Trial Subpoena
Debevoise & Plimpton LLP urged a New Jersey federal judge Monday to quash defendants' trial subpoena that would require a Debevoise partner to testify in an upcoming September criminal bribery trial against ex-Cognizant Technology Solutions's chief legal officer and another former executive, arguing that the testimony is subject to attorney-client privilege.
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June 10, 2024
NYC Probation Officer Interviews Trump Ahead Of Sentence
A New York City probation officer questioned Donald Trump in a remote video interview on Monday, a month before the former president is slated to be sentenced in the wake of his felony conviction in the Manhattan district attorney's hush money case.
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June 10, 2024
Fox Views NFL Sunday Ticket As 'Existential' Threat, Jury Told
A retired executive with Fox Sports testified Monday in a trial over multibillion-dollar antitrust claims brought against the NFL by Sunday Ticket subscribers that his network asked the league to agree to specific Sunday Ticket pricing because it viewed the DirecTV television package as an "existential" threat.
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June 10, 2024
Ex-LA Chinatown Bank CFO Gets 3 Years For Embezzlement
The former chief financial officer of a bank based in Los Angeles' Chinatown has been sentenced to three years in prison after pleading guilty to bank fraud for embezzling more than $700,000 from his employer.
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June 10, 2024
Pension Fund Repays PBGC $8M In Excess Financial Aid
The U.S. Department of Justice announced Monday that a pension provider for workers in graphic communications has paid back more than $8 million in excess funds it received through a financial assistance program administered by the Pension Benefit Guaranty Corp.
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June 10, 2024
Fat Brands Faces Investor Suit Over $47M Loan Scheme
Fat Brands and its executives face a proposed class action in California federal court alleging that they falsely claimed to be cooperating with governmental probes into their CEO's spending $47 million on company loans while skirting taxes, leading stock prices to plunge last month when criminal charges were announced.
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June 10, 2024
Chancery Retains Most Healthcare Tech Merger Suit Claims
Nearly all the allegations of fraud, breach of contract and related claims lodged by healthcare technology venture Trifecta Multimedia Holdings Inc. against acquirer WCG Clinical Services have survived dismissal challenges and will move toward trial, a Delaware vice chancellor ruled Monday.
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June 10, 2024
Apple IPhone Antitrust MDL Heads To NJ, Where DOJ Is Suing
Apple customers accusing the company of locking in iPhone users through anticompetitive agreements will have their cases consolidated in New Jersey, the U.S. Judicial Panel on Multidistrict Litigation ruled Friday, finding the parties can coordinate with the U.S. Department of Justice's enforcement action there to avoid duplicative discovery and inconsistent rulings.
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June 10, 2024
Baltimore Lands $45M Deal With Allergan In Opioid Litigation
Baltimore has put to rest its claims that Allergan played a part in the opioid crisis, reaching a $45 million settlement with the pharmaceutical company, an amount the city called "unprecedented" in an announcement on Monday.
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June 10, 2024
Exxon Says Activist Investor Could Still Target Core Business
Exxon Mobil Corp. sought Monday to keep alive its lawsuit against Arjuna Capital LLC in Texas federal court, arguing that the activist investor could still work behind the scenes to submit climate-related shareholder proposals despite promises in court that it will not.
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June 10, 2024
Uber Black Drivers Aren't Like Plumbers, Philly Jury Told
Uber Black drivers on Monday tried for a second time to convince a Pennsylvania federal jury that the ride-sharing company owes them the same perks as employees, saying they're nothing like plumbers, the quintessential independent contractors.
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June 10, 2024
Software Alliance Urges Congress To Tackle Deepfakes
The Software Alliance, a trade group that includes Microsoft Corp., Adobe Inc. and IBM, urged Congress Monday to pass legislation that addresses the proliferation of digital replicas made possible with artificial intelligence, telling lawmakers that unauthorized deepfakes harm artists who rely on their reputation and public recognition.
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June 10, 2024
Drugmakers Look To Nix Non-Insulin Claims From AG Suit
Novo Nordisk, Eli Lilly and Sanofi-Aventis asked the federal judge overseeing a diabetes drug price-fixing multidistrict litigation to rule for drugmakers on Mississippi's claims the pricing for GLP-1s is illegal, saying in a brief that the drugs are under patent and too new to be included in the insulin-pricing suit.
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June 10, 2024
Big Tech Urges US Reprisal Over Canada's Impending DST
The Office of the U.S. Trade Representative should open formal dispute proceedings with the Canadian government in response to a 3% digital services tax that is expected to soon pass in the Canadian Senate, business groups with members in the U.S. tech industry said Monday.
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June 10, 2024
Parexel Says Staffing Firm Liable For Temp's Alleged Fraud
Clinical research company Parexel International says a Boston-based staffing agency is liable for damages caused by a rogue temporary employee who engaged in "egregious fraud" involving multiple drug trials, according to a complaint filed in Massachusetts state court.
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June 10, 2024
Rutgers GC, Former NJ AG Tapped For State Supreme Court
John Jay Hoffman, general counsel at Rutgers University since 2016 and acting New Jersey attorney general under former Gov. Chris Christie, is Gov. Phil Murphy's latest pick for the state Supreme Court, the governor announced Monday.
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June 10, 2024
Full 9th Circ. Rules AB5 And Its Exemptions Are Lawful
The California Legislature had a plausible reason for creating certain carveouts from a state law governing whether workers are employees or independent contractors, the full Ninth Circuit ruled Monday, departing from a panel's decision that Assembly Bill 5 disfavors companies such as Uber.
Expert Analysis
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q1
The first quarter of the year brought the usual onslaught of new regulatory developments in California — including a crackdown on junk fees imposed by small business lenders, a big step forward for online notarizations and a ban on predatory listing agreements, says Alex Grigorians at Hanson Bridgett.
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Tipsters May Be Key To Financial Regulators' ESG Efforts
The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission are looking to whistleblowers to assist their climate and ESG task forces, suggesting insider information could be central to the agencies' enforcement efforts against corporate greenwashing, false investment claims and climate disclosure violations, says John Crutchlow at Youman & Caputo.
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5 Takeaways From SAP's Foreign Bribery Resolutions
German software company SAP’s recent settlements with the U.S. Department of Justice and U.S. Securities and Exchange Commission, resolving allegations of foreign bribery, provide insights into government enforcement priorities, and how corporations should structure their compliance programs to reduce liability, say attorneys at Perkins Coie.
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Series
Serving As A Sheriff's Deputy Made Me A Better Lawyer
Skills developed during my work as a reserve deputy — where there was a need to always be prepared, decisive and articulate — transferred to my practice as an intellectual property litigator, and my experience taught me that clients often appreciate and relate to the desire to participate in extracurricular activities, says Michael Friedland at Friedland Cianfrani.
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Fears About The End Of Chevron Deference Are Overblown
While some are concerned about repercussions if the U.S. Supreme Court brings an end to Chevron deference in the Loper and Relentless cases this term, agencies and attorneys would survive just fine under the doctrines that have already begun to replace it, say Daniel Wolff and Henry Leung at Crowell & Moring.
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10 Ransomware Issues GCs Should Have On Their Radar
As the ransomware threat landscape rapidly evolves, in-house counsel should expect to face a number of challenging dynamics, including the need to justify any ransom payments both to internal and external stakeholders, and data extortion demands that are bypassing the encryption stage, say attorneys at Alston & Bird.
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Opinion
The SEC Is Engaging In Regulation By Destruction
The U.S. Securities and Exchange Commission's recent use of regulation by enforcement against digital assets indicates it's more interested in causing harm to crypto companies than providing guidance to the markets or protecting investors, says J.W. Verret at George Mason University.
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Series
NJ Banking Brief: All The Notable Legal Updates In Q1
Early 2024 developments in New Jersey financial regulations include new bills that propose regulating some cryptocurrency as securities and protecting banks that serve the cannabis industry, as well as the signing of a data privacy law that could change banks’ responsibility to vet vendors and borrowers, say attorneys at Chiesa Shahinian.
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Former Minn. Chief Justice Instructs On Writing Better Briefs
Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.
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What To Know About IRS' New Jet Use Audit Campaign
The Internal Revenue Service recently announced plans to open several dozen audits scrutinizing executive use of company jets, so companies should be prepared to show the business reasons for travel, and how items like imputed income and deduction disallowance were calculated, say attorneys at Morgan Lewis.
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.
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Antitrust Ruling Shows Limits Of US Law's Global Reach
Antitrust plaintiffs often cite the legislative history of the Foreign Trade Antitrust Improvements Act to support application of U.S. antitrust law to alleged injuries abroad, but as a California federal court recognized recently in Figaro v. Apple, the cited history does no such thing, say Daniel Swanson and Eli Lazarus at Gibson Dunn.
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New Concerns, Same Tune At This Year's SIFMA Conference
At this year's Securities Industry and Financial Markets Association conference on legal developments affecting the financial services industry, government regulators’ emphasis on whistleblowing and AI washing represented a new refrain in an increasingly familiar chorus calling for prompt and thorough corporate cooperation, say attorneys at Fried Frank.
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8 Tips As GCs Prep For New SEC Climate Disclosure Rules
The U.S. Securities and Exchange Commission's recently adopted rules governing climate-related disclosures represent a major change to the existing public company disclosure regime, so in-house counsel should begin to evaluate existing systems and resources related to emissions data, and identify the changes that will need to be made, say attorneys at Bracewell.
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An Overview Of Key Financing Documents In Venture Capital
The Delaware Chancery Court’s recent Moelis decision highlights the importance of structuring corporate governance around investor demand, meaning early-stage companies seeking venture funding through sales of preferred stock should understand the legal documents needed to do so successfully, say Daniel Bell-Garcia and Tristan Kaisharis at Winstead.