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August 12, 2024
Top Immigration Policies To Watch In The 2nd Half Of 2024
The final months of the Biden administration could bring last-minute policymaking to address worker shortages, while new asylum restrictions could be solidified along with a program to offer protections and work permits to unauthorized spouses of U.S. citizens.
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August 09, 2024
Ex-Twitter Board Member Says X Owes Him $23M From Stock
A former member of Twitter's board of directors who helped oversee the sale of the social media company to Elon Musk in 2022 claimed X Corp. owes him more than $23 million worth of vested and unvested shares, according to a lawsuit filed in California state court.
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August 09, 2024
Google Beats Users' Challenge To Apple Pact, For Now
A California federal judge on Friday dismissed, for now, consumers' suit alleging that Google made an illegal pact with Apple to serve as the iPhone's default search engine, a decision that comes days after a D.C. federal court held that Google is a monopolist in a separate antitrust case.
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August 09, 2024
Real Estate Recap: Big 4 Market Views, Gas-Ban Backfire, AI
Catch up on this week's key developments by state from Law360 Real Estate Authority — including what the largest commercial real estate brokers expect from capital markets in the second half of the year, how municipalities are reacting to the Ninth Circuit striking down Berkeley, California's natural gas-hookup ban, and why Brookfield Corp. is betting big on AI.
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August 09, 2024
Takeda Should Face Certified Antitrust Classes, Judge Says
A New York federal judge on Friday recommended certifying two classes of direct purchasers and end payors in consolidated antitrust actions accusing Takeda Pharmaceuticals Co. of unlawfully inflating the price of its diabetes treatment Actos by delaying entry of generic alternatives.
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August 09, 2024
Ripple Claims Victory In SEC Suit But Paid A Price
Ripple Labs Inc. celebrated the end of its legal battle with the U.S. Securities and Exchange Commission as a "clear victory" that cut through the regulator's bid for $2 billion over the exchange's unregistered institutional sales of its XRP token, but experts told Law360 the $125 million fine and injunction Ripple faces is much more than a speeding ticket to end a costly four-year battle.
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August 09, 2024
SEC Settles With EV Fleet Co., 3 Execs For More Than $5M
Electric vehicle company Ideanomics and its former CEO Bruno Wu, a wealthy Chinese entrepreneur, have agreed along with other executives to pay a combined roughly $5.1 million to settle U.S. Securities and Exchange Commission claims of accounting and disclosure fraud, the agency said Friday.
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August 09, 2024
VLSI Sues USPTO For Records Related To Intel IP Disputes
VLSI Technology has sued the U.S. Patent and Trademark Office and the U.S. Department of Commerce in D.C. federal court claiming the agencies have stalled on its public records request for documents relating to ongoing litigation involving Intel Corp. and the invalidation of one of VLSI's microchip patents.
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August 09, 2024
Top 4 Gov't Contracting Policies Of 2024: Midyear Report
Federal agencies have made several prominent policy moves affecting contractors this year, headlined by programs incentivizing whistleblowers to come forward with information about contracting fraud, tweaks to a wide-ranging cybersecurity standard, and guidance for how agencies should purchase generative tools. Here, Law360 examines four significant policy changes from the first half of 2024 that will affect government contractors.
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August 09, 2024
Tesla Can't Duck Workers' PAGA Case Under Anti-SLAPP
A California appellate court has rejected Tesla's attempt to ditch a Private Attorneys General Act case brought by former employees seeking personnel records, agreeing with a lower court that the workers' status as members of a class in a related action against Tesla doesn't entitle the electric-car maker to protection under anti-SLAPP.
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August 09, 2024
SVB's $1.9B FDIC Suit Won't Open 'Floodgates,' Judge Says
A California federal judge trimmed claims from the parent of Silicon Valley Bank's lawsuit against the Federal Deposit Insurance Corp. seeking $1.93 billion, but rejected the agency's arguments that allowing some claims to move forward will "open the floodgates" for every failed bank's uninsured depositors to bring a claim.
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August 09, 2024
Employment Authority: Sex Work Boosted By Calif. Law
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on how erotic dancers have gained more professional respect from a new worker classification law in California, an Eighth Circuit ruling's worker-friendly effect on a law barring arbitration of sex misconduct claims and a run-down on the progressive employment record of Vice President Kamala Harris' running mate.
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August 09, 2024
Biotech Firms Mull Acquisition Offers Amid Shaky IPO Climate
Amid a shaky outlook for initial public offerings, more private biotechnology firms are exploring acquisition offers from larger pharmaceutical companies as a more certain exit strategy, according to experts who advise emerging drug developers.
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August 09, 2024
6th Circ. Partially Revives Crypto IRS Reporting Challenge
The Sixth Circuit issued a mixed ruling Friday in a suit brought by a group of cryptocurrency users challenging the IRS' pending mandate to report large crypto transactions, reversing the dismissal of the suit's Fourth and First Amendment violation claims but affirming that some of the case's claims are not ripe.
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August 09, 2024
Royal Match Game App Fosters Gambling Addiction, Suit Says
A Washington state woman has filed a proposed class action against a Turkish developer, saying it violates state gambling laws with its allegedly addictive Royal Match mobile game that requires players to purchase virtual gold coins for continuous play.
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August 09, 2024
5 Immigration Policy Developments Of 2024: A Midyear Report
President Joe Biden addressed competing election year priorities by curbing asylum and boosting protections for foreign spouses of U.S. citizens, while his administration implemented higher immigration fees and overhauled the H-1B lottery process. Here, Law360 takes a look at five of the most significant immigration policy developments of 2024 so far.
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August 09, 2024
Biopharm Co. Alector Sued In Del. For Docs On Director Pay
A stockholder of small cap biopharmaceutical venture Alector Inc has sued the business in Delaware's Court of Chancery for books and records releases, citing company payment of directors at rates roughly twice the amount paid to nonemployee directors of large cap companies in the same sector.
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August 09, 2024
Meta Urges Justices To Ax Investors' Risk Disclosure Suit
Meta Platforms Inc. filed its opening brief Friday urging the U.S. Supreme Court to reverse a Ninth Circuit decision that kept alive a class action stemming from the Cambridge Analytica data abuse scandal, arguing that decision would create unnecessary disclosure obligations and encourage "fraud by hindsight" lawsuits.
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August 09, 2024
4 Firms Guiding Italian IT Firm Almaviva's $335M Iteris Buy
Italian digital innovation group Almaviva S.p.A. has agreed to purchase Austin, Texas-based infrastructure management provider Iteris Inc. for approximately $335 million equity value, Iteris said in a statement Friday.
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August 09, 2024
Amynta Lodges Fraud Suit In Chancery Over $105M Merger
An affiliate of multinational insurance services provider Amynta Group filed a lawsuit on Friday in Delaware's Court of Chancery against two top officers of Clearview Risk Holdings Inc., accusing both of playing a role in a multiyear Ponzi scheme allegedly designed to protect post-deal earnouts after a purportedly overpriced $105 million merger.
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August 09, 2024
Vidal's Sanctions Make It Clear: Don't Mess With The PTAB
The Patent Trial and Appeal Board has only faced a handful of instances where sanctions took center stage, but the U.S. Patent and Trademark Office director's rulings have made attorneys increasingly aware that pushing ethical boundaries at the board could put their cases and their careers at risk.
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August 09, 2024
Lucid Narrows Securities Suit Over EV Production Targets
A California federal judge has trimmed a suit alleging electric-vehicle startup Lucid Group Inc. misled investors about its production target, trimming the case down to four out of 30 statements the investors said were misleading.
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August 09, 2024
'Outrageous': Dems Grill JPMorgan Over Potential New Fees
Two Senate Banking Committee Democrats have ripped into JPMorgan Chase & Co. over an executive's recent warning that it may hike some costs for customers in response to pending fee rules from the Consumer Financial Protection Bureau, calling it an "outrageous" threat and demanding more details from the megabank.
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August 09, 2024
Aetna Illegally Axed Exec's Disability Benefits, Judge Says
A California federal judge said Aetna was wrong to end an executive's disability benefits after it found he suffered from a mental illness instead of a physical disability, stating the insurer used flawed doctor opinions and may have been motivated by cutting costs.
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August 09, 2024
Marketer Seeking Dismissal Of Mass. Data Privacy Suit
Texas-based online marketing company InMarket Media LLC is asking a Massachusetts federal judge to toss a proposed class action by two women who say the company secretly collected and sold location data through its apps, arguing in a motion to dismiss that the court lacks jurisdiction over the company.
Expert Analysis
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Adopting 7 Principles May Improve Voluntary Carbon Markets
The Biden administration's recently issued joint policy statement on improving the integrity of voluntary carbon markets may help companies using carbon credits to offset their emissions withstand scrutiny by government agencies, the public and investors, say attorneys at Morgan Lewis.
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What The NYSE Proposed Delisting Rule Could Mean For Cos.
The New York Stock Exchange's recently proposed rule would provide the exchange with discretionary authority to commence delisting proceedings for a company substantially shifting its primary business focus, raising concerns for NYSE-listed companies over the exact definition of the exchange's proposed "substantially different" standard, say attorneys at Winston & Strawn.
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Trademark In Artistic Works 1 Year After Jack Daniel's
In the year since the U.S. Supreme Court's Jack Daniel's v. VIP Products ruling, courts have applied Jack Daniel's inconsistently to deny First Amendment protection to artistic works, providing guidance for dismissing trademark claims relating to film and TV titles, say Hardy Ehlers and Neema Sahni at Covington.
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Live Nation May Shake It Off In A Long Game With The DOJ
Don't expect a swift resolution in the U.S. Department of Justice's case against Live Nation, but a long litigation, with the company likely to represent itself as the creator of a competitive ecosystem, and the government faced with explaining how the ticketing giant formed under its watch, say Thomas Kliebhan and Taylor Hixon at GRSM50.
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NCAA Settlement May End The NIL Model As We Know It
The recent House v. NCAA settlement in California federal court, in which the NCAA agreed to allow schools to directly pay March Madness television revenue to their athletes, may send outside name, image and likeness collectives in-house, says Mike Ingersoll at Womble Bond.
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Boeing Saga Underscores Need For Ethical Corporate Culture
In the wake of recent allegations about Boeing’s safety culture, and amid the U.S. Department of Justice’s new whistleblower incentives, business leaders should reinvigorate their emphasis on compliance by making clear that long-term profitability requires ethical business practices, says Maxwell Carr-Howard at Dentons.
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Key Takeaways From 2024 Accountants' Liability Conference
At the recent annual Accountants' Liability Conference, regulators provided important commentary on new Public Company Accounting Oversight Board rulemaking and standard-setting initiatives, and emphasized regulatory priorities ranging from the tone at the top to alternative practice structures, say attorneys at Arnold & Porter.
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Opinion
Bankruptcy Judges Can Justly Resolve Mass Tort Cases
Johnson & Johnson’s recent announcement of a prepackaged reorganization plan for its talc unit highlights that Chapter 11 is a continually evolving living statute that can address new types of problems with reorganization, value and job preservation, and just treatment for creditors, says Kenneth Rosen at Ken Rosen Advisors PC.
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Series
Fishing Makes Me A Better Lawyer
Atop the list of ways fishing makes me a better lawyer is the relief it offers from the chronic stress of a demanding caseload, but it has also improved my listening skills and patience, and has served as an exceptional setting for building earnest relationships, says Steven DeGeorge at Robinson Bradshaw.
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Exploring Alternatives To Noncompetes Ahead Of FTC Ban
Ahead of the Sept. 4 effective date for the Federal Trade Commission's noncompete ban, employers should seek new ways to protect their proprietary and other sensitive information, including by revising existing confidentiality and nondisclosure agreements, says Harvey Linder at Culhane.
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Parsing Controversial Del. General Corporation Law Proposals
In response to issues raised in three recent high-profile Delaware Court of Chancery decisions, many amendments to the Delaware General Corporation Law were quickly proposed that, if enacted, would bring significant changes likely to be hotly debated — and litigated — for the foreseeable future, say attorneys at Morgan Lewis.
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DOL's New OT Rule Will Produce Unbalanced Outcomes
The U.S. Department of Labor's new salary level for the Fair Labor Standards Act overtime exemption is about 65% higher than the current threshold and will cause many white collar employees to be classified as nonexempt because they work in a location with a lower cost of living, not because of their duties, says Stephen Bronars at Edgeworth Economics.
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A Healthier Legal Industry Starts With Emotional Intelligence
The legal profession has long been plagued by high rates of mental health issues, in part due to attorneys’ early training and broader societal stereotypes — but developing one’s emotional intelligence is one way to foster positive change, collectively and individually, says attorney Esperanza Franco.
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Navigating Self-Disclosures As A Regulated Financial Entity
As enforcement risks heat up for regulated financial institutions, such entities may be forced to weigh the potential advantages and disadvantages of self-disclosing potential compliance gaps, say attorneys at Jenner & Block.
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To Make Your Legal Writing Clear, Emulate A Master Chef
To deliver clear and effective written advocacy, lawyers should follow the model of a fine dining chef — seasoning a foundation of pure facts with punchy descriptors, spicing it up with analogies, refining the recipe and trimming the fat — thus catering to a sophisticated audience of decision-makers, says Reuben Guttman at Guttman Buschner.