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August 26, 2024
EV Maker Contests Del. Bid To Stall Stock Drop Suit In Calif.
Counsel for electric-vehicle manufacturer Mullen, which is now tangled in a derivative lawsuit seeking damages in Delaware's Chancery Court, have pointed the court to a proposed $7.25 million settlement in an earlier-filed derivative case in California federal court to support the company's bid to stay the Delaware action.
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August 26, 2024
Former Google Execs Fight Ad Tech Trial Subpoenas
Former Google vice presidents and other company managers have filed a series of motions asking a Virginia federal judge to block U.S. Department of Justice subpoenas trying to force their testimony at next month's advertising technology monopolization trial, arguing their live participation is unneeded and improperly demanded.
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August 26, 2024
CFPB Defeats Challenge To Small-Biz Lending Rules
The Consumer Financial Protection Bureau landed an early win Monday in an industry-backed challenge to its reporting requirements for small business lenders, with a Texas federal judge finding the rule "is much more modest than plaintiffs would lead the court to believe."
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August 26, 2024
Biotech Investor Sues In Chancery Over Alleged IP Diversions
A private equity investor in biotech Vividion Therapeutics Inc., recently acquired by Bayer Corp. for up to $2 billion, sued the company's co-founder and others in Delaware's Court of Chancery on Monday, accusing them of secretly diverting to another company intellectual property worth "hundreds of millions, if not billions."
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August 26, 2024
Semiconductor Co. Overstated Recovery, Investors Say
Semiconductor manufacturer STMicroelectronics did not have the visibility it claimed to have to predict future growth in its core segments, leading it to make several false representations to shareholders, according to two investor suits filed in New York federal court.
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August 26, 2024
Bank Co. Disputes AIG's Reading Of Covered Defense Costs
A bank owner defended its amended claims that an AIG unit violated the Texas Insurance Code, telling a Texas federal court that AIG unlawfully issued it late defense payments and refused to cover defense costs that "incidentally" benefited its affirmative underlying claims.
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August 26, 2024
4th Circ. Won't Free Insurance Mogul From $524M Judgment
Convicted insurance mogul Greg Lindberg was dealt a blow by the Fourth Circuit on Monday when the court found that he was liable for a $524 million arbitration award stemming from a fight over a reinsurance agreement with an insurer.
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August 26, 2024
Former X Worker Seeks Class Certification In Bonus Suit
A former X Corp. employee asked a California federal court to greenlight an approximately 2,200-member class in his lawsuit alleging the company reneged on promised bonuses after Elon Musk took over the social media company formerly known as Twitter.
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August 26, 2024
Papa John's Workers In BIPA Class Can 'Fly Solo,' Judge Says
An Illinois federal judge trimmed a lawsuit Friday filed by two former Papa John's workers who claim the chain violated the state's biometric privacy law, but refused to dismiss it as duplicative of a putative class action raising similar claims, saying the plaintiffs have every right to "grab the litigation wheel."
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August 26, 2024
Texas Biz Court: Getting To Know The Lone Star State's New Bench
Judges of Texas' new statewide business court will gavel in on Sept. 1, when they will begin hearing certain complex business disputes in which the amount in controversy exceeds $5 million. Here, catch up with Law360's coverage of the Lone Star State's newest courts.
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August 26, 2024
Judge Declines To Enhance $45M Doorbell Video IP Verdict
A Texas federal judge said Monday that Vivint Inc. need only pay the $45.4 million a jury said it owes video doorbell maker SB IP Holdings LLC for infringing its audiovisual patents along with pre- and post-judgment interest, declining to enhance the award at the patent holder's request.
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August 26, 2024
In-House Vet Joins Honigman's Corporate Team In Chicago
Honigman announced Monday it added a longtime in-house attorney, who has worked for companies such as Collins Aerospace and Bridgestone, to the law firm's Chicago office as a partner in its transactions and counseling practice.
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August 26, 2024
Cadwalader Fears Unsealing Financial Info May Harm Firm
Cadwalader Wickersham & Taft LLP has argued in North Carolina Business Court that unsealing financial details related to a November 2022 data breach and its insurance policy with a Lloyd's of London syndicate would put the firm at further risk from competitors and bad actors.
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August 26, 2024
Grubhub Can't Escape Suit Over Judge Killed By Driver
Grubhub must face a lawsuit brought by the family of a Phoenix-area judge who died after being struck by one of the food delivery service's drivers since the app that allegedly distracted the driver could be considered a "product," an Arizona state court judge has ruled.
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August 26, 2024
At Bradley Arant, Ex-Healthcare GC Heeds 'No Surprises' Rule
A former general counsel at home health provider Aveanna Healthcare has returned to private practice as a partner in the healthcare and real estate practices at Bradley Arant Boult Cummings LLP, and is vowing not to surprise his in-house clients with surprise legal bills — now that he's on the other side of the business.
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August 26, 2024
Telegram CEO Arrested In French Probe Of Messaging App
The founder and CEO of messaging platform Telegram has been arrested in Paris as part of an investigation into allegations the company is complicit in illegal transactions, child pornography and organized fraud, French prosecutors said Monday.
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August 26, 2024
JPMorgan Cash Sweep 'Shortchanged' Customers, Suit Says
JPMorgan Chase has been hit with a proposed class action in New York federal court alleging its securities branch "shortchanged" customers by automatically "sweeping" their uninvested cash balances into deposit accounts at its affiliate, Chase Bank.
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August 26, 2024
Disney Seeks 9th Circ. Appeal In 'Star Wars' Actor's Firing Suit
Disney and Lucasfilm want the Ninth Circuit to weigh whether the First Amendment protects an artistic organization's right to control casting decisions, urging a California federal court to let it immediately appeal an order that allowed a former Star Wars actor's political bias lawsuit to move forward.
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August 26, 2024
Catching Up With Delaware's Chancery Court
Last week in Delaware's Court of Chancery, Boeing accused shareholders of using a new pressure tactic, Cantor Fitzgerald struck a $12 million deal, and a vice chancellor dealt with zombie companies. New cases involved displaced Pacific Islanders and an insurance customer acquisition platform. In case you missed it, here's a roundup of news from the Chancery Court.
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August 26, 2024
New Jersey Cases Attorneys Are Watching In 2024
Jersey City is fighting the Garden State's cannabis legalization law and argues it conflicts with federal gun control legislation, while the bankrupt former chief financial officer of McElroy Deutsch Mulvaney & Carpenter LLP is facing civil claims he defrauded the firm and paid himself millions in unauthorized salary.
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August 24, 2024
Italian Prosecutors Open Criminal Probe Into Yacht Sinking
Italian prosecutors said Saturday that they have opened a criminal investigation into the sinking of a superyacht that claimed the lives of seven people including a partner at Clifford Chance LLP and his client, British technology mogul Mike Lynch.
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August 23, 2024
Maxell Urges Trade Commission To Bar TCL Smart TV Imports
Maxell Ltd. urged the U.S. International Trade Commission to permanently bar TCL from importing certain smart televisions that Maxell claims infringe several of its patents, saying TCL continues to import allegedly infringing televisions despite being long aware of Maxell's patent portfolio.
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August 23, 2024
Real Estate Recap: Key Cases, Proptech Pain, RealPage Suit
Catch up on the past week's key developments by state from Law360 Real Estate Authority — including the residential real estate cases to watch in 2024's second half, proptech's recent funding lapse and long-term potential, and a new lawsuit from the U.S. Department of Justice against property management software company RealPage.
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August 23, 2024
NBA Shreds Warner Bros.' Suit Over Amazon Streaming Deal
The NBA looked to quickly snuff out a lawsuit from Warner Bros. Discovery over the league's broadcasting deal with Amazon on Friday, telling a New York state judge that the media conglomerate failed to match the streamer's offer and didn't even have the right to do so.
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August 23, 2024
Caterpillar Can't Nix $12.9M Jury Loss In Wirtgen IP Row
A Delaware judge has declined to overturn a $12.9 million verdict that Caterpillar was ordered to pay machinery manufacturer Wirtgen for infringing five road-milling machine patents, rejecting Caterpillar's equitable defenses that included the patents are unenforceable because of an unreasonable delay in the patent application process.
Expert Analysis
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E-Discovery Quarterly: Rulings On Hyperlinked Documents
Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.
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Enron Law Is Still Threat To Execs After Justices' Jan. 6 Ruling
While the U.S. Supreme Court’s recent Fischer v. U.S. decision is a setback for prosecutors’ obstruction charges against Jan. 6 defendants, it also represents a strong endorsement of the post-Enron Sarbanes-Oxley Act’s original purpose, serving as a corporate compliance reminder for executives, say Michael Peregrine and Ashley Hoff at McDermott.
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Loper Bright Limits Federal Agencies' Ability To Alter Course
The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.
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Calif. Out-Of-State Noncompete Ban Faces Several Hurdles
California's attempt to bolster its noncompete law has encountered significant procedural and constitutional challenges, and litigating parties must carefully analyze not only the restrictive covenants contained in their agreements, but also the forum-selection and choice-of-law provisions, say Jennifer Redmond and Gal Gressel at Sheppard Mullin.
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2nd Circ. Case Reinforces Need For Advance Notice Bylaws
The Second Circuit's recent decision in Nano Dimension v. Murchinson illustrates that Section 13(d) of the Exchange Act is a square peg for a round hole, and that advance notice bylaws are far better at protecting against undisclosed coordination among activist shareholders, say attorneys at Morgan Lewis.
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What Cos. Should Note In DOJ's New Whistleblower Pilot
After the U.S. Department of Justice unveiled a new whistleblower pilot program last week — continuing its efforts to incentivize individual reporting of misconduct — companies should review the eligibility criteria, update their compliance programs and consider the risks and benefits of making their own self-disclosures, say attorneys at Skadden.
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Series
After Chevron: New Lines Of Attack For FCA Defense Bar
Loper Bright has given defense counsel new avenues to overcome the False Claims Act elements of falsity and scienter, as any FCA claim based upon ambiguous statutory terms can no longer stand solely on agency regulations to establish the statute's meaning, which is itself necessary to satisfy the FCA's basic requirements, says Elisha Kobre at Bradley Arant.
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Autonomy Execs' Acquittal Highlights Good Faith Instruction
The recent acquittal of two former Autonomy executives demonstrates that a good faith jury instruction can be the cornerstone of an effective defense strategy in white collar criminal cases, in part because the concept of good faith is a human experience every juror can relate to, says Sara Kropf at Kropf Moseley.
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Series
Teaching Scuba Diving Makes Me A Better Lawyer
As a master scuba instructor, I’ve learned how to prepare for the unexpected, overcome fears and practice patience, and each of these skills – among the many others I’ve developed – has profoundly enhanced my work as a lawyer, says Ron Raether at Troutman Pepper.
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Navigating The Murky Waters Of Patent Infringement Damages
Recent cases show that there is no easy way to isolate an infringed patent’s value, and it would serve all sides well for courts to thoroughly examine expert opinions of this nature and provide consistent guidance for future cases, say Manny Caixeiro and Elizabeth Manno at Venable.
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SolarWinds Ruling Offers Cyber Incident Response Takeaways
The New York federal court's dismissal of all charges related to the 2019 Sunburst cyberattack is a devastating blow to the U.S. Securities and Exchange Commission's cybersecurity case against SolarWinds, but the well-reasoned opinion provides valuable lessons that may improve companies' defensive posture in the wake of a major cybersecurity incident, say attorneys at Troutman Pepper.
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Series
After Chevron: Delegation Of Authority And Tax Regulators
The U.S. Department of the Treasury and the Internal Revenue Service will face higher standards following Loper Bright’s finding that courts should determine whether agency rules meet the best possible interpretation of the tax code, as well as the scope of the authority delegated by Congress, says Edward Froelich at McDermott.
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3 Ways To Lower Insider Trading Risk After First 10b5-1 Case
In light of the U.S. Department of Justice's insider trading prosecution against the former CEO of Ontrack based on alleged abuse of a Rule 10b5-1 safe harbor plan — designed to allow executives to sell their companies' securities without liability — companies and individuals should take steps to avoid enacting similar plans in bad faith, say attorneys at Jenner & Block.
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Lawyers Can Take Action To Honor The Voting Rights Act
As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.
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Series
After Chevron: What Loper Bright Portends For The NLRB
While the U.S. Supreme Court has a long history of deferring to the National Labor Relations Board's readings of federal labor law, the court's Loper Bright v. Raimondo decision forces courts to take a harder look at the judgment of an agency — and the NLRB will not be immune from such greater scrutiny, says Irving Geslewitz at Much Shelist.