Corporate

  • September 06, 2024

    7th Circ. Backs Bulk Of CFTC's Fraud Claim Win Against CEO

    The Seventh Circuit has largely upheld a win for the Commodity Futures Trading Commission, finding that the head of a Chicago-based brokerage conducted a multimillion-dollar options fraud scheme, but remanded on two claims related to whether the company was required to register as a commodity trading adviser.

  • September 06, 2024

    Ex-CEO Of Defunct Solar Co. Seeks Sanctions In Fraud Suit

    The former CEO of a bankrupt solar energy firm filed a motion for sanctions Friday in Michigan federal court, alleging the plaintiffs' counsel misrepresented the ex-CEO's inability to produce information during a discovery meeting regarding claims he defrauded customers by selling faulty solar systems.

  • September 06, 2024

    Fed's Barr To Give Sneak Peek Of Revised Basel III Plan

    The Federal Reserve's vice chair for supervision will preview revisions to a scaled-back version of the controversial Basel III endgame plan to toughen big-bank capital requirements at a Brookings Institution event on Tuesday.

  • September 06, 2024

    X Corp. Shorted 3 Execs Millions In Severance, Suit Says

    Three former executives of Twitter, now known as X, said in a California federal court suit that Elon Musk prevented them from collecting millions in severance benefits following his takeover of the social media company by falsely claiming they were fired for failing to cooperate in investigations.

  • September 06, 2024

    Ex-Conn. Utility Execs Can't Shake Convictions At 2nd Circ.

    The Second Circuit issued a mammoth 140-page decision Friday upholding punishments including a $748,000 restitution order for three former executives convicted of stealing from a Connecticut utility cooperative, but the court threw out the utility's bid for a $9.6 million reimbursement for fronting the defendants' attorney fees.

  • September 06, 2024

    Biopharm Co., Directors Sued In Del. Over 'Extreme' Scheme

    A five-year run of "extreme and unconscionable self-dealing" has left 62% of Navidea BioPharmaceuticals Inc. equity in the hands of a single stockholder-director, a Delaware Court of Chancery suit has alleged, with the company now deregistered and currently without a viable product.

  • September 06, 2024

    DOT Probe Of Airlines' Rewards Spells Fresh Headaches

    A new U.S. Department of Transportation investigation into frequent flyer rewards programs at the so-called Big Four U.S. airlines will cause fresh regulatory headaches for an airline industry that's already smarting from a rash of Biden administration competition- and consumer-driven initiatives.

  • September 06, 2024

    Ingersoll Rand Blocks Rival From Hiring Ex-Exec In NDA Fight

    A Colorado state court has preliminarily blocked the former chief executive of a company acquired by industrial products giant Ingersoll Rand Inc. from working for rival Avantor, finding Ingersoll Rand will likely win its claims that the executive specifically agreed not to work for Avantor as a condition of the acquisition.

  • September 06, 2024

    Investment Co. Appeals Sanction In Highland Ch. 11

    An alternative investment company has asked a Texas federal court to overturn a sanctions order it received in defunct hedge fund Highland Capital's Chapter 11 case after the bankruptcy court concluded that it filed a claim in bad faith.

  • September 06, 2024

    CFPB's Zelle Scrutiny Leaves Banks Guessing On Next Moves

    As federal regulators turn up the heat on major banks over long-simmering complaints about fraud and scams on Zelle, the largest U.S. peer-to-peer payments platform, it remains unclear whether more banks could face scrutiny and what they can do to get ahead of it.

  • September 06, 2024

    DOJ Must Give Google 'Something Concrete' On Search Fixes

    The Justice Department cannot wait until February to propose remedies meant to address Google's default contract exclusionary thumb on the scales of online search, a D.C. federal judge told the agency during a hearing Friday, adding that the government needs to put a definitive proposal on the table much sooner.

  • September 06, 2024

    Off The Bench: NCAA Flops, NBA Trial, Sunday Ticket Appeal

    In this week's Off The Bench, the $2.78 billion deal to settle a vast class action targeting the NCAA's name, image and likeness compensation rules hits a snag, the NBA and Warner Bros. aim for an April trial in their media rights fight, and NFL Sunday Ticket subscribers look to reinstate their $4.7 billion antitrust victory over the league.

  • September 06, 2024

    No Redo On Eminem Licensing Ruling Over Spotify Plays

    A Tennessee federal judge refused to rethink her decision in favor of Spotify on its third-party claims against the collection agent for Eminem's music publisher over a licensing dispute, stating Friday that the agent's arguments have been addressed already.

  • September 06, 2024

    Boeing Loses Bid To Toss Investor Suit Over Blowout

    A Virginia federal judge gave the green light to Boeing investors to continue their securities fraud proposed class suit against the company over one of its planes' midair door blowout in January, rejecting the aerospace giant's motion to dismiss and telling Boeing it had a "real problem" on its hands.

  • September 13, 2024

    WilmerHale, Hanotiau Duo Launch New Arbitration Boutique

    Two international arbitrators from WilmerHale and Hanotiau & van den Berg have left their previous firms after near-20-year stints to set up their own boutique practice.

  • September 06, 2024

    4 ERISA Arguments To Watch In September

    The Ninth Circuit will weigh two cases involving whether class claims under the Employee Retirement Income Security Act can be forced into solo arbitration, and the Second Circuit will hear Yale University workers' bid to revive their retirement plan mismanagement suit. Here are four upcoming oral argument sessions that benefits attorneys should have on their radar.

  • September 06, 2024

    Trustee Backs Tossing Ex-McElroy Deutsch CFO's Ch. 11 Case

    The U.S. Trustee's Office has urged a New Jersey bankruptcy court to dismiss a Chapter 11 petition from McElroy Deutsch Mulvaney & Carpenter LLP's former CFO, who is currently incarcerated for embezzling millions from the firm, because he has stonewalled the trustee's requests for information about his finances.

  • September 06, 2024

    $147.5M Life Insurance Class Deal Gets First OK In Conn.

    A Connecticut federal judge has given his initial approval to a $147.5 million settlement in a class action accusing two insurers of overcharging policyholders when deducting costs from savings accounts attached to universal life insurance plans, turning away objections from plaintiffs in parallel cases in other states.

  • September 06, 2024

    Judge Barnard Says It's 'About Time' For Texas Biz Court

    Law360 recently talked with Judge Marialyn Barnard, who transitioned this month from the 73rd District Court to Texas Business Court, about the newly created court.

  • September 06, 2024

    NY Gov. Taps WilmerHale Leader For Counsel Position

    New York Gov. Kathy Hochul announced Friday that a WilmerHale partner and leader will be the next counsel to the governor, appointing an attorney who has served as New York deputy attorney general and the attorney general's chief of staff and as senior adviser to the New York City mayor.

  • September 06, 2024

    Fox Rothschild Lands Entertainment Atty From Netflix In NY

    An attorney who most recently worked for streaming giant Netflix is bringing his lifelong love of film and past working as a writer and producer to Fox Rothschild LLP.

  • September 06, 2024

    NLRB Denied Indicative Ruling Bid In SpaceX Dispute

    The National Labor Relations Board can't have an indicative ruling to pause an unfair labor practice case against SpaceX amid a challenge to the constitutionality of the board's structure, a Texas federal judge ruled, saying the agency didn't file a separate motion requesting such relief.

  • September 06, 2024

    Legal Job Market Continued Downward Trend In August

    The legal industry lost 2,300 jobs in August, the fourth month in a row of declines, according to preliminary data released Friday by the U.S. Bureau of Labor Statistics.

  • September 06, 2024

    Baker McKenzie M&A Partner Jumps To Bell Nunnally

    Dallas-based business law firm Bell Nunnally & Martin LLP has hired former Baker McKenzie partner Jonathan Farrokhnia, who told Law360 on Friday that his decision to join the firm was based on the advantages that come from working for a smaller firm.

  • September 06, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    A contracting company has launched a $59 million malpractice suit against Troutman Pepper, alleging the firm and a partner in its construction practice failed to provide adequate representation in two underlying cases, while artificial intelligence was atop the list of new technologies law firms have used this year. These are among the stories in corporate legal news you may have missed in the past week.

Expert Analysis

  • Series

    After Chevron: What Loper Bright Portends For The NLRB

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    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.

  • PE Firms Should Prepare For Increased False Claims Scrutiny

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    The impact private equity firms may have over medical decisions and care is increasingly attracting potential liability under the False Claims Act and attention from states and the federal government, so investors should follow best practices including conducting due diligence both before and after acquisitions, say attorneys at K&L Gates.

  • Proposed NIL Deal Leaves NCAA Antitrust Liability Door Open

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    The proposed House v. NCAA settlement filed in California federal court creates the possibility of significant direct payments to student-athletes for the first time, but the resulting framework is unlikely to withstand future antitrust scrutiny because it still represents an agreement among competitors to limit labor cost, says Yaman Desai at Lynn Pinker.

  • Series

    A Day In The In-House Life: Block CLO Talks Problem-Solving

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    Amid the busy summer months, Block Inc. Chief Legal Officer Chrysty Esperanza chronicles a typical Wednesday where she conquered everything from unexpected fintech regulatory issues and team building to Bay Area commutes and school drop-off.

  • Series

    After Chevron: ERISA Challenges To Watch

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    The end of Chevron deference makes the outcome of Employee Retirement Income Security Act regulatory challenges more uncertain as courts become final arbiters of pending lawsuits about ESG investments, the definition of a fiduciary, unallocated pension forfeitures and discrimination in healthcare plans, says Evelyn Haralampu at Burns & Levinson.

  • Analyzing Advance Notice Bylaws On 'Clear' Or 'Cloudy' Days

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    In Kellner v. AIM ImmunoTech, the Delaware Supreme Court recently clarified the framework for judicial review of advance notice bylaws adopted, amended or enforced on "clear" or "cloudy" days, underscoring the responsibility of boards to ensure that their scope does not overreach or prevent the possibility of a contested election, say attorneys at Venable.

  • Navigating Antitrust Considerations In ESG Collaborations

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    The intersection of ESG goals and antitrust laws presents a complex challenge for businesses and their counsel — but by creating clear frameworks for collaboration, adhering to established guidelines and carefully considering the competitive implications of their actions, companies can work toward sustainability while mitigating legal risks, say attorneys at Morgan Lewis.

  • Justices' Intent Witness Ruling May Be Useful For Defense Bar

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    At first glance, the U.S. Supreme Court’s recent Diaz v. U.S. decision, allowing experts to testify to the mental state of criminal defendants in federal court, gives prosecutors a new tool, but creative white collar defense counsel may be able to use the same tool to their own advantage, say Jack Sharman and Rachel Bragg at Lightfoot Franklin.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

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    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • Jarkesy's Impact On SEC Enforcement Will Be Modest

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    Though the U.S. Supreme Court’s recent U.S. Securities and Exchange Commission v. Jarkesy decision found that fraud defendants have a constitutional right to a jury trial, the ruling will have muted impact on the agency’s enforcement because it’s already bringing most of its cases in federal court, say Jeremiah Williams and Alyssa Fixsen at Ropes & Gray.

  • Opinion

    Data Breach Reporting Requirements Must Change In AI Age

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    Outdated data breach reporting laws are inadequate to protect consumers in the age of artificial intelligence, as AI’s ability to determine relationships coupled with its improvements to deepfake technology mean that the very definitions used in breach reporting laws are no longer sufficient, says Collin Walke at Hall Estill.

  • Series

    Rock Climbing Makes Me A Better Lawyer

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    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • What Chevron's End Means For How Congress Does Business

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    The U.S. Supreme Court’s recent Loper Bright Enterprises v. Raimondo decision, overturning the Chevron doctrine, will have a far-reaching impact across the entire public policy life cycle, beginning with how Congress writes its laws and extending through agency implantation and judicial review, say attorneys at K&L Gates.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

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    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • Alice Step 2 Trends Show Courts' Extrinsic Evidence Reliance

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    A look at recent trends in how district courts are applying Step 2 of the Alice framework shows that courts have increasingly relied on extrinsic evidence to help determine whether a claimed invention is "well-understood, routine, and conventional," says Jonathan Tuminaro at Sterne Kessler.

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