Corporate

  • August 29, 2024

    Ex-SPAC Agrees To Face 'Springing Penalty' In SEC Case

    Former blank check company National Energy Services Reunited Corp. has agreed to pay the U.S. Securities and Exchange Commission $400,000, with a potential additional penalty of $1.2 million if it doesn't undertake certain remediation efforts, over alleged financial reporting and controls failures stemming from its acquisition of 2 companies.

  • August 29, 2024

    Schwab's 'Cash Sweep' Paid For TD Ameritrade Buy, Suit Says

    The Charles Schwab Corp. has been hit with a proposed class action in California federal court by three customers alleging that the investment bank obtains "outsized benefits" from its cash sweep programs and used a significant amount of the cash to finance its $26 billion acquisition of TD Ameritrade Holding Corp. several years ago.

  • August 29, 2024

    NLRB Rejects Amazon Challenges To Staten Island Union Win

    The National Labor Relations Board rejected Amazon's challenge to the results of a union's election victory at a Staten Island, New York, warehouse, saying Thursday the company did not present strong enough evidence that the union's conduct interfered with workers' choice in the election.

  • August 29, 2024

    Nigerian Fintech Ex-CEO Hit With $32M Fine In SEC Fraud Suit

    A New York federal judge has levied a nearly $32 million penalty against a Nigerian businessman whom the U.S. Securities and Exchange Commission has accused of fraudulently inflating the value of his food and agriculture technology businesses, while also ordering him and various affiliated businesses to cough up hundreds of millions of dollars in disgorgement and prejudgment interest.

  • August 29, 2024

    Nektar Can't Get Docs It Says Show Lilly As 'Thieves, Liars'

    A California federal judge Thursday rejected Nektar Therapeutics' request for internal Eli Lilly documents related to separate litigation as Nektar pursues allegations Eli Lilly ruined prospects for a drug the companies were developing together despite Nektar's counsel saying it would "expose Lilly for being thieves, liars."

  • August 29, 2024

    Class Attys Seek Chancery Doc Sanctions In Santander Suit

    An attorney for Santander Consumer USA Holdings Inc. stockholders urged a Delaware vice chancellor Thursday to exercise the court's "common law" document retention enforcer role during arguments for sanctions against the big auto lender's board, controller and parent for deleting messages before a $2.5 billion minority squeeze-out merger.

  • August 29, 2024

    4th Circ. Won't Revive Whistleblower's Credit Suisse Tax Suit

    The Fourth Circuit upheld the dismissal of a former Credit Suisse employee's whistleblower case that alleged the Swiss bank continued to help clients evade taxes after it made a related plea deal with the U.S., saying a 2023 U.S. Supreme Court decision on the False Claims Act could not save the case.

  • August 29, 2024

    DOJ Calls Former Googler's Ad Tech Testimony 'Essential'

    The U.S. Department of Justice urged a Virginia federal judge Wednesday not to let former Google vice presidents and other company managers avoid testifying at next month's advertising technology monopolization trial, arguing their testimony is important and was properly subpoenaed.

  • August 29, 2024

    Backpage Co-Founder Gets 5 Years In Prostitution Case

    The co-founder of defunct classifieds service Backpage.com was sentenced in Phoenix federal court to five years behind bars after he was convicted for his role in a $500 million prostitution scheme, the U.S. Department of Justice said Wednesday.

  • August 29, 2024

    Albright Boots $8B EV Trade Secrets Suit For Improper Venue

    U.S. District Judge Alan Albright tossed out a $7.8 billion trade secrets dispute between two electric vehicle companies, adopting a federal magistrate judge's recommendation that the case should be handled in Israel where he said both companies and the majority of the individuals related to the matter already are.

  • August 29, 2024

    JPMorgan Says Ex-Adviser Poached Clients Worth $13M

    JPMorgan Chase has accused a former adviser of attempting to solicit clients for Wells Fargo, an effort JPMorgan alleged has so far been successful in converting 16 clients worth $13 million to its competitor.

  • August 29, 2024

    Publishers, Authors Sue Fla. Over School Library Book Bans

    Six publishing houses; five bestselling authors, including Jodi Picoult and Laurie Halse Anderson; and two parents of schoolchildren filed a challenge Thursday to a Florida state law that restricts books in school libraries in what they say is an overly broad, unconstitutional manner.

  • August 29, 2024

    National Labor Relations Board Appoints 1st Chief AI Officer

    The National Labor Relations Board on Thursday announced the appointment of an assistant general counsel and e-litigation chief as the agency's first-ever chief artificial intelligence officer.

  • August 29, 2024

    Bankruptcy Judge Allows Red Lobster To Reject 23 Leases

    Troubled seafood chain Red Lobster gained a Florida bankruptcy judge's approval for its proposal to reject leases of an additional 23 restaurant locations slated to close at the end of the month.

  • August 29, 2024

    Foley & Lardner Must Face Ex-Clients' Breach-Of-Duty Action

    A Texas appellate court has reversed a decision that let Foley & Lardner LLP escape a suit filed by two partners in an oil and gas venture who allege that the firm failed to disclose conflicts of interest and misused their confidential information after representing them in several matters.

  • August 29, 2024

    Nippon Pledges $1.3B For US Steel In Quest For US Approval

    Nippon Steel Corp. has pledged to inject an additional $1.3 billion into United States Steel Corp. facilities as the Japanese company looks to get over the finish line with U.S. regulators on its controversial $14.9 billion merger proposal.

  • August 29, 2024

    Marathon Oil Stockholders Approve $23B ConocoPhillips Deal

    Marathon Oil Corp. said Thursday it has received the necessary stockholder approval for its pending $22.5 billion merger with ConocoPhillips, as the companies race to get the deal done amid an ongoing U.S. regulatory review.

  • August 29, 2024

    Under-The-Radar Gov't Contracts Cases: Midyear Report

    Alongside blockbuster rulings so far this year shaking up the federal contracting landscape are lower-profile decisions with noteworthy legal outcomes, addressing issues such as when late submissions matter, when they don't, and whether local wage requirements can affect federal contracts. Here are four lower-profile decisions from the first half of 2024 with significant legal findings that could impact federal contractors.

  • August 28, 2024

    Calif. Assembly OKs 1st-Of-Its-Kind AI Safety Bill

    California lawmakers on Wednesday approved a groundbreaking proposal that would set safety and security standards for large artificial intelligence models.

  • August 28, 2024

    Merck Must Face Class Claims In Vaccine Antitrust Suit

    Merck cannot strike class claims in antitrust litigation over its rotavirus vaccine, a Pennsylvania federal judge ruled Wednesday, while also allowing the city of Baltimore to eliminate redundancies in its complaint.

  • August 28, 2024

    Telegram CEO Indicted In France Over Crimes On Platform

    Paris prosecutors on Wednesday unveiled wide-ranging criminal charges against Pavel Durov, the founder and CEO of encrypted messaging-platform Telegram, accusing him of aiding illegal child-pornography, fraud and other crimes and obstructing investigations, and barring him from leaving the country.

  • August 28, 2024

    Feds Say Multimillion-Dollar 'Surge' Scheme Bilked Uber Riders

    New York federal prosecutors on Wednesday accused two men of leading a yearslong scheme that allowed hundreds of Uber drivers to use illicit apps, including some named Screwber and FakeGPS, to manipulate the rideshare market and gain millions of dollars from riders in fraudulent surge fees.

  • August 28, 2024

    Ex-Exec's $1M Suit Accuses Houston McNair Family Of 'Coup'

    A longtime employee of the Houston McNair family has accused the children of late businessman Bob McNair of staging a "coup" to oust him from the family's companies, denying him more than $1 million in post-termination benefits in the process.

  • August 28, 2024

    Capital One Says Merger's Pending Approval Tanks Challenge

    Capital One urged a Virginia federal judge to toss or pause a lawsuit challenging the bank's proposed $35 billion acquisition of Discover Financial Services, saying the suit's claims are too speculative and contingent on unknown future events since they depend entirely on the acquisition receiving regulatory and government approval.

  • August 28, 2024

    Boston Consulting Group Avoids FCPA Prosecution, Feds Say

    The U.S. Department of Justice has declined to prosecute Boston Consulting Group Inc. for former employees' alleged bribery of Angolan officials because of the management consulting firm's self-disclosure of the misconduct, as well as its cooperation, remediation and disgorgement of more than $14.4 million.

Expert Analysis

  • Opinion

    Atty Well-Being Efforts Ignore Root Causes Of The Problem

    Author Photo

    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • How Generative AI May Aid Merger Clearance Process

    Author Photo

    Generative artificial intelligence capable of analyzing and searching large datasets stands to revolutionize the merger clearance process, including by significantly reducing the time and effort required to respond to Hart-Scott-Rodino second requests, say Kenneth Koch and Brian Blush at BDO USA.

  • Antitrust In Retail: The Meaning Of 'Accessible Luxury'

    Author Photo

    In order for the Federal Trade Commission to block a deal that would put six "accessible luxury" brands, including Coach and Michael Kors, under one roof, the agency will need to prove that this category is distinct from the true luxury or mass-market categories, says David Kully at Holland & Knight.

  • What Passage Of House Crypto Bill Could Mean For Industry

    Author Photo

    While the prospects of the Financial Innovation and Technology for the 21st Century Act, which recently passed the House in a bipartisan fashion, becoming law remain murky, the manner of its passage may give crypto markets a real cause for hope, say Neel Maitra and Dale Beggs at Dechert.

  • What 2 Rulings On Standing Mean For DEI Litigation

    Author Photo

    Recent federal court decisions in the Fearless Fund and Hello Alice cases shed new light on the ongoing wave of challenges to diversity, equity and inclusion initiatives, with opposite conclusions on whether the plaintiffs had standing to sue, say attorneys at Moore & Van Allen.

  • Series

    NY Banking Brief: All The Notable Legal Updates In Q2

    Author Photo

    The second quarter of 2024 saw less enforcement activity in the realm of New York financial services, but brought substantial regulatory and legislative developments, including state regulators' guidance on cybersecurity compliance and customer service processes for virtual currency entities, say James Vivenzio and Andrew Lucas at Perkins Coie.

  • FTC Focus: Competition And The Right To Repair

    Author Photo

    If the Federal Trade Commission includes commercial and industrial products as part of copyright exemptions that allow consumers to modify or repair products, then businesses and affected rights holders will need to consider copyrights' impact on infringement issues, say attorneys at Proskauer.

  • Series

    Skiing And Surfing Make Me A Better Lawyer

    Author Photo

    The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.

  • Advisers Can Avoid Gaps In SEC Marketing Rule Compliance

    Author Photo

    A recent risk alert from the U.S. Securities and Exchange Commission and the enforcement history of the marketing rule indicate that advisers have encountered persistent difficulties in achieving compliance — but there are steps advisers can take to mitigate risks of violations, say Scott Moss and Jimmy Kang at Lowenstein Sandler.

  • Class Actions At The Circuit Courts: June Lessons

    Author Photo

    In this month's review of class action appeals, Mitchell Engel at Shook Hardy considers two recent decisions from the Third and Tenth Circuits, and identifies practice tips around class action settlements and standing in securities litigation.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

    Author Photo

    Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.

  • Del. Bankruptcy Ruling Will Give D&O Insureds Nightmares

    Author Photo

    In Henrich v. XL Specialty Insurance, the Delaware Bankruptcy Court recently found that a never-served qui tam claim had been "brought" before a D&O policy's retroactive date, thereby eliminating coverage, and creating a nightmare scenario for directors and officers policyholders facing whistleblower claims, says David Klein at Pillsbury.

  • Opinion

    No Matter The Purdue Ruling, Mass Tort Reform Is Needed

    Author Photo

    The U.S. Supreme Court will soon issue its opinion in the bankruptcy of Purdue Pharma LP, and regardless of the outcome, it’s clear legal and policy reforms are needed to address the next mass tort, says William Organek at Baruch College.

  • Top 5 Issues For Employers To Audit Midyear

    Author Photo

    Six months into 2024, developments from federal courts and regulatory agencies should prompt employers to reflect on their progress regarding artificial intelligence, noncompetes, diversity initiatives, religious accommodation and more, say Allegra Lawrence-Hardy and Lisa Haldar at Lawrence & Bundy.

  • 6 Tips For Maximizing After-Tax Returns In Private M&A Deals

    Author Photo

    With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Corporate archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!