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Corporate
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February 21, 2025
B. Riley Founders, Board Sued In Del. Over Investment Losses
A B. Riley Financial Inc. stockholder has launched a derivative suit seeking hundreds of millions of dollars in damages for the company in Delaware's Court of Chancery, alleging director conflicts tied to investments in now-bankrupt holding company Franchise Group Inc., led by a longtime friend of a B. Riley co-founder.
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February 21, 2025
Lenovo CLO Announces Retirement, Successor Named
Consumer technology company Lenovo will be shaking up its leadership team with retirement plans for its chief legal officer and chief financial officer, announced Friday.
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February 21, 2025
Steel, Aluminum Tariffs May Throw Wrench Into Future Deals
President Donald Trump's targeted tariffs on steel and aluminum imports could assist in his goal of reshoring more production to the U.S., but the elimination of agreements he reached during his first term may undermine the ability to strike new trade agreements — while also spurring historic price hikes.
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February 21, 2025
Ga. Senate Passes Measure To Rein In 'Excessive Litigation'
The Georgia state Senate on Friday passed a bill intended to cut down on "excessive litigation" and its accompanying costs by imposing new limits on negligent security claims.
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February 21, 2025
Paul Hastings Seeks To End GenapSys Malpractice Action
Paul Hastings LLP has moved for summary judgment in a malpractice action from GenapSys Inc., saying the case is barred because the genomic sequencing company failed to disclose its possible claim until after confirmation of its bankruptcy plan.
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February 21, 2025
WilmerHale Corporate Ace Joins DLA Piper In California
DLA Piper has added a former WilmerHale attorney to strengthen its corporate practice, including bolstering its service to clients in the life sciences and healthcare industries.
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February 21, 2025
GC Cheat Sheet: The Hottest Corporate News Of The Week
Experts say the new U.S. guidelines on enforcing the Foreign Corrupt Practices Act could open the door for American companies to pay business bribes overseas. And a new survey shows adoption of AI by lawyers has nearly doubled in the past year. These are some of the stories in corporate legal news you may have missed in the past week.
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February 21, 2025
Kroger Workers' $21M Pay System Outage Deal Gets First Nod
An Ohio federal judge preliminarily approved a $21 million deal between The Kroger Co. and a proposed class of around 47,000 workers who accused it of missing paychecks and making inaccurate deductions to their wages after it switched payroll systems.
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February 21, 2025
Ex-Cognizant Execs Balk At Wording Of Trial Date Draft Order
Attorneys for two former executives of Cognizant Technology Solutions Corp. told a New Jersey federal judge on Friday that they object to the government's wording of a proposed order for proceeding with their Foreign Corrupt Practices Act trial on March 3.
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February 21, 2025
Coinbase Says SEC Will Drop Suit Amid Crypto Policy Shift
Coinbase said Friday the U.S. Securities and Exchange Commission has committed to dropping its enforcement action against the crypto exchange, a move that would see the regulator walk away from one of its flagship crypto suits amid a wider policy shift under the Trump administration.
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February 20, 2025
DOJ Says Job Protections For ALJs Are Unconstitutional
The U.S. Department of Justice announced Thursday that it no longer backs long-standing job protections for administrative law judges, saying it has determined that the "multiple layers of removal restrictions" shielding ALJs are unconstitutional because they violate the separation of powers doctrine.
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February 20, 2025
DOJ Says It Will Drop Immigrant Bias Case Against SpaceX
The U.S. Department of Justice told a Texas federal judge Thursday that it plans to drop administrative proceedings alleging Elon Musk's Space Exploration Technologies Corp. refused to hire refugees and asylees.
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February 20, 2025
Landmark AI Legislation On Kids, Bias Introduced In Calif.
A California lawmaker Thursday unveiled first-of-its-kind legislation aimed at protecting children from safety and privacy risks associated with artificial intelligence as well as a revised version of a bill addressing bias by AI tools.
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February 20, 2025
Florida Hits Target With New Suit Over Pride Month Merch
The state of Florida's investment management body Thursday became the latest to sue Target Corp. over its Pride-themed merchandise, saying the retail giant "betrayed" investors with its "exceptionally offensive" LGBTQ marketing campaign and product lines.
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February 20, 2025
Ex-Rio Tinto CFO Must Keep Fighting SEC Fraud Case
A New York federal judge on Thursday refused to throw out the U.S. Securities and Exchange Commission's suit accusing Rio Tinto PLC's former chief financial officer of violating accounting and auditing rules, ruling that certain claims should be decided by a jury.
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February 20, 2025
New SEC Enforcement Unit Shows Drift From Crypto Focus
The U.S. Securities and Exchange Commission continued its efforts to shift its approach to digital asset enforcement under the Trump administration when it announced Thursday that it replaced the unit responsible for many of its controversial crypto registration suits with a new fraud-focused iteration that will take a broader focus on "cyber and emerging technologies."
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February 20, 2025
Ex-ITC Commissioner Talks IP Before Heading To WilmerHale
Former U.S. International Trade Commissioner Rhonda Schmidtlein stepped down this month after more than a decade at the agency, and on Thursday talked to Law360 about how she went from a small town in Missouri to one of the nation's top trade positions, along with what she wished practitioners in intellectual property disputes would do.
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February 20, 2025
What The ITC's Multiple Vacancies Mean For The Agency
Three of the six commissioner seats on the U.S. International Trade Commission are now vacant, which experts say may not disrupt the quasi-judicial agency's work on disputes involving duties and intellectual property, but is at odds with how it was designed to operate.
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February 20, 2025
Warby Parker Hit With $1.5M Fine After HHS Breach Probe
The U.S. Department of Health and Human Services announced Thursday that it has imposed a $1.5 million fine on Warby Parker Inc. following a cyberattack on the eyewear manufacturer's website that exposed the protected health information of nearly 200,000 customers.
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February 20, 2025
Ex-SEC Lawyer Fights Gov't Bid To Ax Bias Claim Evidence
A former Securities and Exchange Commission lawyer suing the agency for discrimination is fighting its request to have evidence of dismissed claims excluded from the upcoming trial, arguing the government's recent filing is an attempt to stymie her counsel in advance of the March trial.
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February 20, 2025
Amid Shake-Ups, USPTO Gets New Acting Deputy Director
The U.S. Patent and Trademark Office has a new acting deputy director, with former chief adviser Will Covey taking over the role at a tumultuous time for the agency and federal government at large.
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February 20, 2025
Trump Admin Says CFPB Defunding Suit Guesses At Harms
The Trump administration on Thursday pushed back on a lawsuit alleging it seeks to "defund" the Consumer Financial Protection Bureau, arguing that concerns about access to a consumer complaint database and other information are "baseless speculation" about the agency's future financial decisions that don't justify an injunction.
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February 20, 2025
New SEC Guidance Throws A 'Bit Of Chaos' Into Proxy Season
The U.S. Securities and Exchange Commission's recent effort to loosen its guidance around what companies can exclude from their proxy statements isn't surprising given the change in administration, but the timing of its release has thrown a monkey wrench into a proxy season that is already underway, attorneys said.
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February 20, 2025
Another Ex-Allianz Exec Gets No Time For $7B Investor Fraud
A former managing director for Allianz SE's U.S. unit on Thursday avoided a term of imprisonment for his role in a ploy to con investors about the riskiness of a group of private funds that lost over $7 billion when the COVID-19 pandemic hit.
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February 20, 2025
Amazon Says FTC 'Stonewalled' Discovery In Antitrust Case
The Federal Trade Commission is relying on "boilerplate objections and untenable hyper-technicalities" to delay discovery in its antitrust suit against Amazon, the e-commerce giant said in a new motion in Seattle federal court, seeking to force the agency to hand over information about its case.
Expert Analysis
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9 Things To Expect From Trump's Surprising DOL Pick
The unexpected nomination of Rep. Lori Chavez-DeRemer, R-Ore., to lead the U.S. Department of Labor reflects a blend of pro-business and pro-labor leanings, and signals that employers should prepare for a mix of continuity and moderate adjustments in the coming years, say attorneys at Fisher Phillips.
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Impact Of Corporate Transparency Act Ambiguity On Banks
Even though banks generally needn't file beneficial ownership information reports, financial institutions must continue to monitor the status of the Corporate Transparency Act and understand its requirements in case the nationwide injunction that was issued against the CTA earlier this month is overturned, say attorneys at Armstrong Teasdale.
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A Look At SEC, CFTC's Record Year For Whistleblower Awards
Another banner year shows that the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission have developed the gold standard for whistleblower award programs, but a CFTC funding crisis threatens to derail that program's success, say Andrew Feller and Geoff Schweller at Kohn Kohn.
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What 2024 Trends In Marketing, Comms Hiring Mean For 2025
The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.
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The Prospects Of Pa. Gaining Its Own Antitrust Law After 2024
In the only state that does not have its own antitrust law, Pennsylvania's business community's strong opposition to the Pennsylvania Open Markets Act signals a rough road lies ahead for passage of the bill after Republicans retained a narrow majority in the state Senate, say attorneys at BakerHostetler.
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How Trump's Tariff Promises May Play Out In 2nd Term
While it is unclear which of President-elect Donald Trump's promised tariffs he intends to actually implement in January, lessons from his first administration, laws governing executive action and U.S. trade agreements together paint a picture of what may be possible, say attorneys at Butzel.
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5 Notable Anti-Money Laundering Actions From 2024
Regulators' renewed interest in anti-money laundering programs in 2024 led to numerous enforcement actions and individual prosecutions in industries like banking, cryptocurrency and gaming, including the blockbuster TD Bank settlement and investigations of casinos in Nevada, says Michael Beckwith at Dickinson Wright.
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Series
Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.
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How White Collar Defense Attys Can Use Summary Witnesses
Few criminal defense attorneys have successfully utilized summary witnesses in the past, but several recent success stories show that it can be a worthwhile trial tactic to help juries understand the complex decision-making at issue, says Jonathan Porter at Husch Blackwell.
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Opinion
6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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The Current State Of Play Around Corporate Transparency Act
Although a Texas court preliminarily enjoined enforcement of the Corporate Transparency Act and paused an impending Dec. 31 reporting deadline, multiple states have similar requirements, so companies should continue to monitor compliance obligations regardless of the CTA's constitutionality, say attorneys at Simpson Thacher.
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Predictions For Trump Antitrust Enforcement Of Life Sciences
Key life sciences antitrust issues of the past two administrations may indicate the direction of enforcement during President-elect Donald Trump's second term, including in areas such as drug prices, killer acquisitions and merger remedies, say attorneys at Ropes & Gray.
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From Football To Pickleball, Sports Investing Evolved In 2024
The NFL's decision to allow private-equity investments in football franchises capped off a transformative year in U.S. sports that also included landmark PE transactions in emerging sports ranging from women's soccer to pickleball, say attorneys at Weil.
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Using Data To Inform Corporate Disclosure Decisions
With today’s market volatility and regulatory factors requiring public companies to confront competing transparency and protection demands, incorporating stock price reaction analysis of company-specific news into the controller's role could be beneficial for disclosure determinations, say Liz Dunshee at Fredrikson & Byron and Nessim Mezrahi at SAR.
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Best Practices For AI Disclosures In Insurance Applications
As businesses integrate AI into their operations, insurers are starting to develop targeted questions to assess the associated risks, but ambiguities in the application forms can create challenges for businesses applying for insurance, say attorneys at Hunton.