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June 10, 2024
FTC To Fight Go-Ahead Order On Novant $320M Hospital Deal
Just days after a district court loss, the Federal Trade Commission said Monday it will ask the Fourth Circuit to step in and block Novant Health from buying two North Carolina hospitals in a $320 million deal the agency contends would harm competition.
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June 10, 2024
Victims Of Chiquita-Funded Paramilitaries Win $38M Award
The first bellwether trial in multidistrict litigation against Chiquita over its funding of right-wing paramilitaries in Colombia's banana-producing region ended with a victory Monday afternoon for nearly all the plaintiffs, as a Florida federal jury awarded them $38.3 million in damages for the losses of their loved ones killed by paramilitaries.
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June 10, 2024
Live Urgent Care In-House Atty Axed For Pregnancy, Suit Says
A former in-house attorney and compliance officer for Live Urgent Care LLC alleged in New Jersey state court on Friday that she was fired in retaliation for asking to take maternity leave and demanding a bonus she claims was never paid.
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June 10, 2024
Cozen Sustains NY Growth With Ogletree Labor Expert
An experienced labor and employment attorney has jumped from Ogletree Deakins Nash Smoak & Stewart PC to Cozen O'Connor, continuing recent growth in the firm's New York office.
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June 10, 2024
Catching Up With Delaware's Chancery Court
Big players and big moves dominated much of the past week in Delaware's Court of Chancery, as Tesla in particular and big corporations in general showed their pique over rulings that went toward stockholders or against conventional expectations.
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June 10, 2024
Vista Outdoor Rejects MNC's Over $3B Takeover Bid
Vista Outdoor Inc. said Monday that it rejected MNC Capital Partners' over $3 billion takeover offer that it lobbed at the outdoor goods company last week, while simultaneously announcing a new $2 billion offer for its sporting products division from an undisclosed U.S.-based private investment firm.
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June 10, 2024
Elliott Presses Southwest Airlines For Leadership Changes
Elliott Investment Management LP said Monday that it has amassed a stake in Southwest Airlines of approximately $1.9 billion as it pushed the airline to make leadership changes, but Southwest was quick to defend its top brass.
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June 10, 2024
Justices Skip Kroger's TM Feud With Grubhub Over Logo
The U.S. Supreme Court on Monday declined to review a Seventh Circuit finding that Grubhub Inc.'s fork-and-knife logo does not infringe a similar emblem used by Kroger's meal-kit delivery service Home Chef.
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June 10, 2024
Justices To Hear Meta Investor Suit Over Risk Disclosures
The U.S. Supreme Court on Monday agreed to hear Meta Platforms' petition regarding the Ninth Circuit's decision to partially revive investors' claims over the Cambridge Analytica data abuse scandal, after the tech giant argued the appellate panel adopted "extreme outlier positions."
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June 10, 2024
Justices Seek Solicitor General View On Climate Change Torts
The U.S. Supreme Court on Monday asked the U.S. solicitor general to weigh in on a bid to end a suit brought by Honolulu seeking to put fossil fuel companies on the hook for climate change-related damages.
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June 07, 2024
NFL's Kraft Testifies 'Too Many' Sunday Ticket Sales Is Bad
A California federal jury considering multi-billion dollar antitrust claims against the NFL brought by Sunday Ticket subscribers saw video deposition testimony Friday from New England Patriots owner Robert Kraft, who said ensuring a high price for the television package is a league priority, and he would not want "too many" U.S. subscribers.
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June 07, 2024
Real Estate Authority: EPA's Brownfield Funding Surge
Catch up on this week's key developments by state from Law360 Real Estate Authority — including a new data series on the U.S. Environmental Protection Agency's brownfield grant program.
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June 07, 2024
Ontrak CEO Had Anxiety Over Souring Cigna Deal, Jury Told
A former Ontrak Inc. consultant testified Friday in the trial of its founder who's accused of trading on insider information about Ontrak's souring relationship with Cigna Healthcare in 2021, telling California federal jurors he frequently expressed anxiety, saying that Ontrak must "save Cigna" and describing the situation as a nightmare.
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June 07, 2024
Uber Targets Most Calif., Texas Claims In Driver Assault MDL
Uber urged a California federal judge Friday to toss the majority of claims from plaintiffs in California and Texas in multidistrict litigation seeking to hold the ride-hailing company liable for drivers' sexual assaults, saying it can't be held responsible for the actions of individual drivers under those state's laws.
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June 07, 2024
Ozempic MDL Gets New Judge After Judge Pratter's Death
The U.S. Judicial Panel on Multidistrict Litigation on Thursday reassigned sprawling litigation over Ozempic and similar drugs in the Eastern District of Pennsylvania following the sudden death of U.S. District Judge Gene E.K. Pratter, who'd been overseeing the MDL.
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June 07, 2024
Casper Investors Ink $3M Deal Over Mattress Co.'s Woes
Investors in mattress company Casper Sleep Inc. have asked a Brooklyn federal judge for an initial nod for their $3 million deal that would end claims the company misrepresented its financial prospects in the lead-up to its February 2020 initial public offering.
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June 07, 2024
Terraform Funder Must Face Class Claims In Illinois
Terraform Labs' financial backer Jump Trading LLC cannot consolidate a pair of proposed class actions accusing it of propping up the failing crypto platform, with a federal judge ruling that purchasers of a massively devalued crypto token can keep their lawsuit against the high-speed trading firm in Illinois.
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June 07, 2024
DC Circ. Undoes Library Of Congress Win In Fair Use Fight
The D.C. Circuit on Friday reversed a lower court's decision that had rejected two industry groups' challenge to a final rule that categorized medical device diagnostic procedures and repairs as fair use exemptions to U.S. copyright law.
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June 07, 2024
Trump Can Bring Atty To Presentence Interview
A New York judge ruled Friday that Donald Trump can bring his attorney with him when he sits down with a New York City probation officer for a presentence interview, granting an unusual accommodation to the former president before he is sentenced for his criminal conviction next month.
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June 07, 2024
SEC Fines Ex-AstraZeneca Insider $1.4M For Merger Trades
The U.S. Securities and Exchange Commission has ordered a former AstraZeneca employee to pay $1.4 million to settle claims he used nonpublic information to trade CinCor Pharma shares ahead of the public announcement that the two companies would merge.
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June 07, 2024
Don't Delay In-House Handbags Case For Fed. Court, FTC Told
Federal Trade Commission staffers are urging the commission not to delay an in-house challenge to the planned $8.5 billion merger combining the parent companies of Coach and Michael Kors, arguing that a separate New York federal court fight won't automatically determine the deal's fate.
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June 07, 2024
'Why Are You Even Here?' Judge Prods Big Tobacco
A Washington state appellate panel on Friday criticized Philip Morris USA Inc. and other tobacco companies for attempting to pay the state less under a 1998 master settlement agreement, with one judge asking a Big Tobacco attorney why they were in court in the first place.
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June 07, 2024
Employment Authority: How AI Tools May Push Disability Bias
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on why worker advocates are concerned that hiring tools that use artificial intelligence are allowing disability bias to flourish, how fewer and fewer workers are being paid at the federal minimum wage as state wage rates rise, and why experts think a recent Fifth Circuit ruling could cause trouble for new remedies laid out by the National Labor Relations Board in the future.
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June 07, 2024
Tesla Rips 'Unprecedented' $5.6B Fee Bid In Musk Pay Fight
Tesla urged Delaware's Chancery Court on Friday to reject a $5.6 billion stock-based fee request by counsel representing investors who blocked Elon Musk's record Tesla pay package, arguing the "unprecedented" fee bid is unreasonable, unwarranted and 17 times larger than any fee award in Delaware history.
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June 07, 2024
FaZe Clan SPAC Investor Sues B. Riley In Chancery Court
Former stockholders of the blank-check company that took electronic sports and entertainment company FaZe Clan public in a $725 million transaction in July 2022 sued B. Riley Financial and others behind the deal on Friday in Delaware's Court of Chancery, alleging disclosure failures and breaches of fiduciary duty.
Expert Analysis
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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.
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Ready Or Not, Big Tech Should Expect CFPB Surveillance
In light of the Consumer Financial Protection Bureau's proposed plan to supervise large companies providing the vast majority of digital money transfers, not only will Big Tech have to prepare for regulation previously reserved for traditional banks, but the CFPB will also likely face some difficult decisions and obstacles, says Meredith Osborn at Arnold & Porter.
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Series
Spray Painting Makes Me A Better Lawyer
My experiences as an abstract spray paint artist have made me a better litigator, demonstrating — in more ways than one — how fluidity and flexibility are necessary parts of a successful legal practice, says Erick Sandlin at Bracewell.
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DOJ's Safe Harbor Policy May Quietly Favor M&A Enforcement
In a change that has received little attention, the U.S. Justice Department's recently codified safe harbor policy essentially reads the Antitrust Division's criminal enforcement out of the policy entirely, and now appears to favor merger enforcement in antitrust, rather than criminal enforcement, as originally intended, say Daniel Oakes and James Attridge at Axinn.
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Examining The Arbitration Clause Landscape Amid Risks
Amid a new wave of mass arbitrations, recent developments in the courts and from the American Arbitration Association suggest that companies should improve arbitration clause drafting to protect themselves against big-ticket settlements and avoid major potential liability, say attorneys at Benesch.
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Takeaways From The 2023 DOJ Fraud Section Report
Attorneys at Wiley discuss notable trends from the U.S. Department of Justice's recently reported Fraud Section activity last year and highlight areas of enforcement to watch for in the future, including healthcare fraud and Foreign Corrupt Practices Act violations.