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Corporate
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August 21, 2024
Lion Air Families Want Full 7th Circ. To Hear Boeing Case
The last two estates pursuing claims over 2018's Lion Air crash argued Wednesday that the full Seventh Circuit should rehear their bid for jury trial damages relating to injuries the victims experienced over land because their initial panel applied the governing law in a way that was never intended.
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August 21, 2024
Tech Cos. Duck Proposed Calif. Bill Via News Funding Deal
Major tech companies, including Google, agreed Wednesday to pay roughly $250 million into a fund that proponents say would support newsrooms across California in a deal that avoids a proposed regulation that would've forced Big Tech to pay the state's media organizations for distributing news content.
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August 21, 2024
FDIC Taps MoFo Atty To Monitor Workplace Transformation
The Federal Deposit Insurance Corp. announced Wednesday that it has appointed a former prosecutor and veteran Morrison & Foerster LLP partner to serve as an independent monitor during the agency's efforts to revamp its workplace culture.
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August 21, 2024
Ex-Vitol Oil Trader Pleads Out To Texas FCPA Case In NY
A former Vitol oil trader on Wednesday admitted in New York federal court to charges brought in Texas accusing him of bribing Mexican officials to obtain business for the energy and commodities company, months after he was convicted in New York over similar conduct with Ecuadorian officials.
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August 21, 2024
IBM Incentivizes Biased Hiring, Ousted White Male Worker Says
IBM financially incentivizes and pressures corporate leadership to hire people based on their race and gender, according to a new suit filed in Michigan federal court by a former IBM employee who claims he was unlawfully fired for being a "double whammy" white male.
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August 21, 2024
RTX Wants Trade Secrets Trial Closed To 'Non-US Persons'
Defense contractor RTX is fighting with a manufacturer over whether a trade secrets trial next week over the design of a mechanical bearing used in the U.S. military's "StormBreaker" bomb should be closed off to all "non-U.S. persons."
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August 21, 2024
FTC Fails 1st Test Of Rulemaking Push In Noncompetes Loss
The Federal Trade Commission suffered its first definitive loss Tuesday in the push to ban employment noncompete agreements, although the decision probably isn't the final word given a likely appeal and two other pending challenges also viewed as a test of the agency's efforts to expand its rulemaking footprint.
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August 21, 2024
Legal, Policy Orgs Urge Justices To Toss FCA Interpretation
Two groups are defending AT&T subsidiary Wisconsin Bell Inc. in its challenge to the use of the False Claims Act for E-Rate program reimbursement fraud, telling the Supreme Court in amicus briefs Tuesday that the Seventh Circuit's ruling in the case would make the FCA's qui tam powers too expansive.
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August 21, 2024
Full 3rd Circ. Won't Hear Distillery Investor's RICO Case
An investor in a Pennsylvania craft distillery who accused his former business partner and a bevy of associates of racketeering, fraud and trade secret violations has failed to persuade a Third Circuit panel or the full court to take another look at his arguments about reviving the dismissed case.
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August 21, 2024
High Court Told Nvidia Case Could Damage Crypto Industry
The Digital Chamber is warning that a U.S. Supreme Court dispute between chipmaker Nvidia Corp. and some of its investors poses a "grave risk" to the entire cryptocurrency industry by threatening to expose it to costly litigation should the justices uphold a lower court ruling allowing the lawsuit to move forward.
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August 21, 2024
Western Asset Exec Takes Leave Of Absence Amid SEC Probe
Western Asset Management's co-chief investment officer, Ken Leech, has taken an immediate leave of absence from the global fixed-income manager after receiving a so-called Wells notice from the U.S. Securities and Exchange Commission and as the company faces parallel government investigations.
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August 21, 2024
NC Biz Court Bulletin: Wrinkle In Textile Family's $17M Fight
The fate of a $17 million trust battled over by its trustees and Atrium Health, as well as attorney fees in a $1.1 million data breach settlement were cemented by the North Carolina Business Court in the first half of August. In case you missed those and others, here are the highlights.
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August 21, 2024
Cyber Tech Biz Sued In Del. After Thoma Bravo-Backed Merger
An Exabeam Inc. stockholder sued in Delaware's Court of Chancery on Wednesday for post-merger appraisal of his shares, in part to assure access to books and records related to a tie-up with LogRhythm Inc., alleging multiple disclosure concerns prior to the Thoma Bravo-aligned deal.
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August 21, 2024
Judge Rules Lack Of Expert Dooms Families' Tylenol MDL
Families trying to show that prenatal exposure to acetaminophen causes ADHD cannot rely on the "cherry-picked statements" of a defense expert to keep their claims alive, a New York federal judge ruled, delivering yet another blow to plaintiffs in the sprawling multidistrict litigation.
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August 21, 2024
Wells Fargo Hires Jones Day After $22M ADA Trial Loss In NC
Wells Fargo has beefed up its legal representation with a powerhouse appellate litigator and an employer-side labor lawyer, both from Jones Day, following a jury's decision last month to enter more than $22 million in damages against it in a former director's disability discrimination case in North Carolina federal court.
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August 21, 2024
Boeing Seeks Chancery Bar To Early Books Suit Depositions
The Boeing Co. has asked a Chancery Court magistrate to shoot down a stockholder push for an order requiring early-stage depositions of company officials in support of a recent books and records suit, saying it's a new litigation pressure tactic.
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August 21, 2024
3rd Circ. Rejects Ex-Engineering Co. GC's Benefits Suit
The Third Circuit refused Wednesday to revive a former general counsel for an engineering company's suit claiming he was stiffed on over $100,000 in retirement benefits, rejecting his argument that a $1 million payout he got from the company should have been factored into his benefits package.
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August 21, 2024
Nonprofit Can Step Into Ex-CFO's $40M Embezzlement Case
A Michigan federal judge said Tuesday that the Detroit Riverfront Conservancy can intervene in the federal government's embezzlement case against its former chief financial officer, who is alleged to have stolen $40 million from the nonprofit tasked with revamping Detroit's riverfront.
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August 21, 2024
X Corp. Shuts Down Disability Bias Suit Over Musk Takeover
A California federal judge scrapped a proposed class action Wednesday alleging Twitter targeted employees with disabilities for termination following Elon Musk's takeover of the business, but left the door open for the former worker behind the suit to revise his claims.
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August 28, 2024
Paul Weiss Hires TDR Capital's GC For Private Equity Team
Paul Weiss Rifkind Wharton & Garrison LLP said Wednesday that it has recruited a partner from private equity firm TDR Capital as it continues its expansion in London.
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August 20, 2024
Duke Energy Wants 4th Circ. Rethink On Antitrust 'Haven'
Duke Energy sought a full Fourth Circuit rehearing Monday against a panel decision reviving NTE Energy Services' antitrust lawsuit, arguing the panel upended decades of U.S. Supreme Court precedent and risked making the circuit a space for plaintiffs to "escape" those rules.
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August 20, 2024
Ex-Goldman Analyst's Stepbro Ducks Prison For Inside Trades
A Long Island man on Tuesday was spared time in prison for his role in an insider scheme in which he traded on tips gleaned from his stepbrother and ex-Goldman Sachs analyst, largely due to his prompt cooperation with the FBI.
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August 20, 2024
Chancery Flummoxed By Long-Voided Corporate Plaintiff
An unusual corporate law dilemma had a Delaware vice chancellor saying Tuesday that she was without options for dealing with a Philippines-based zombie company recently deemed void since 2020 despite also acting as one plaintiff in a Court of Chancery stock purchase dispute filed in 2022.
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August 20, 2024
SharkNinja Urges Mass. Court To Reject Dyson Patent Claims
SharkNinja is asking a federal judge in Massachusetts to deem it has not infringed five patents held by rival vacuum-maker Dyson, three months after Dyson brought a patent infringement claim against SharkNinja in Texas over the same patents.
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August 20, 2024
Ex-SEC Senior Counsel, AUSA Joins Tech Co. As CCO
A former assistant U.S. attorney with senior counsel experience at the U.S. Securities and Exchange Commission has joined technology company Tools For Humanity, a startup co-founded and chaired by OpenAI head Sam Altman, as deputy general counsel and chief compliance officer.
Expert Analysis
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Opinion
Now More Than Ever, Lawyers Must Exhibit Professionalism
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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Series
After Chevron: Piercing FEMA Authority Is Not Insurmountable
While the Federal Emergency Management Agency's discretionary authority continues to provide significant protection from claims under the Administrative Procedure Act, Loper Bright is a blow to the argument that Congress gave FEMA unfettered discretion to administer its own programs, says Wendy Huff Ellard at Baker Donelson.
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A Look At State AGs Supermarket Antitrust Enforcement Push
The ongoing antitrust intervention by state attorneys general in the proposed Kroger and Albertsons merger suggests that states are straying from a Federal Trade Commission follow-on strategy in the supermarket space, which involved joining federal investigations or lawsuits and settling for the same divestment remedies, say attorneys at Troutman Pepper.
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How To Survive Shareholder Activism
In an era where shareholder activism is on the rise, companies must identify weaknesses, clearly communicate strategies, update board composition and engage with shareholders consistently in order to avoid disruptive shareholder activism and safeguard the interests of both the company and its shareholders, say J.T. Ho at Orrick and Greg Taxin at Spotlight Advisors.
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'Outsourcing' Ruling, 5 Years On: A Warning, Not A Watershed
A New York federal court’s 2019 ruling in U.S. v. Connolly, holding that the government improperly outsourced an investigation to Deutsche Bank, has not undercut corporate cooperation incentives as feared — but companies should not completely ignore the lessons of the case, say Temidayo Aganga-Williams and Anna Nabutovsky at Selendy Gay.
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Series
Serving In The National Guard Makes Me A Better Lawyer
My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.
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Big Business May Come To Rue The Post-Administrative State
Many have framed the U.S. Supreme Court’s recent decisions overturning Chevron deference and extending the window to challenge regulations as big wins for big business, but sand in the gears of agency rulemaking may be a double-edged sword, creating prolonged uncertainty that impedes businesses’ ability to plan for the future, says Todd Baker at Columbia University.
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Series
After Chevron: A Sea Change For Maritime Sector
The shipping industry has often looked to the courts for key agency decisions affecting maritime interests, but after the U.S. Supreme Court's Loper Bright ruling, stakeholders may revisit important industry questions and coordinate to bring appropriate challenges and shape rulemaking, say attorneys at Holland & Knight.
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Opinion
Proposed Terminal Disclaimers Rule Harms Colleges, Startups
Universities and startups are ill-suited to follow the U.S. Patent and Trademark Office’s recently proposed rule on terminal disclaimers due to their necessity of filing patent applications early prior to contacting outside entities for funds and resources, say attorneys at Sterne Kessler.
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Series
After Chevron: Impact On CFPB May Be Limited
The U.S. Supreme Court's decision in Loper Bright Enterprises v. Raimondo is likely to have a limited impact on the Consumer Financial Protection Bureau's regulatory activities, and for those who value due process, consistency and predictability in consumer financial services regulation, this may be a good thing, says John Coleman at Orrick.
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A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates
Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.
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Series
After Chevron: 7 FERC Takeaways From Loper Bright
Following the U.S. Supreme Court's overturning of the Chevron doctrine, it's likely that the majority of the Federal Energy Regulatory Commission's orders will not be affected, but the commission has nonetheless lost an important fallback argument and will have to approach rulemaking more cautiously, says Norman Bay at Willkie Farr.
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Series
After Chevron: USDA Rules May Be Up In The Air
The Supreme Court's end of Chevron deference may cause more lawsuits against U.S. Department of Agriculture regulations, like the one redefining "unfair trade practices" under the Packers and Stockyards Act, or a new policy classifying salmonella as an adulterant in certain poultry products, says Bob Hibbert at Wiley.
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Series
In The CFPB Playbook: Making Good On Bold Promises
The U.S. Supreme Court's decision upholding the Consumer Financial Protection Bureau's funding structure in the second quarter cleared the way for the bureau to resume a number of high-priority initiatives, and it appears poised to charge ahead in working toward its aggressive preelection agenda, say Andrew Arculin and Paula Vigo Marqués at Blank Rome.
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Series
After Chevron: Creating New Hurdles For ESG Rulemaking
The U.S. Supreme Court's Loper Bright decision, limiting court deference to agencies' statutory interpretations, could have significant impacts on the future of ESG regulation, creating new hurdles for agency rulemaking around these emerging issues, and calling into question current administrative actions, says Leah Malone at Simpson Thacher.