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Corporate
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March 13, 2025
Ex-Timberland GC Takes Legal Reins At Perfect Moment
A former longtime lawyer at footwear and clothing company Timberland is set to remain in the apparel industry with her next role as the first general counsel at Perfect Moment Ltd., the luxury lifestyle brand announced Thursday.
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March 13, 2025
SEC Drops Dealer-Registration Case Criticized By Hedge Fund
The U.S. Securities and Exchange Commission is dropping its claim that a Boston hedge fund should have registered as a broker-dealer, abandoning a case that the defense had argued overstepped the law and would subject more firms to federal oversight.
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March 13, 2025
NY Taps Ex-CFPB Official For Top Financial Enforcement Role
New York's financial services regulator said Thursday that it has hired a new top consumer protection cop, bringing aboard a veteran enforcement official recently departed from the Consumer Financial Protection Bureau.
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March 13, 2025
Lobbying Group Urges Transparency In New AI Ethics Code
After more than a year of research and study, D.C.-area lobbying trade group the National Institute for Lobbying and Ethics on Thursday published its first artificial intelligence ethics code, which emphasizes core principles including transparency, fairness and inclusivity, privacy and data security, and civic engagement and education.
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March 13, 2025
Willkie Farr Hires Kirkland Private Funds Partner In NY
Willkie Farr & Gallagher LLP has hired a private funds attorney in New York who spent the past four years at Kirkland & Ellis LLP advising fund sponsors on operational and other matters, the firm announced Wednesday.
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March 12, 2025
'Not An Autocracy': Judge Says Trump Can't Fire FLRA Chair
President Donald Trump last month unlawfully fired the Democratic chair of the Federal Labor Relations Authority, a Washington, D.C., federal judge ruled Wednesday, saying the government "is not an autocracy" that allows the president to "remove federal officials on a whim."
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March 12, 2025
Capital One Nearly Bought Frank For $125M, Javice Jury Told
A Capital One investment banker told a New York federal jury on Wednesday that the lender was eyeing student financial aid startup Frank for a potential $125 million acquisition before backing out, $50 million less than what JPMorgan Chase & Co. ultimately paid for the company, the result of what prosecutors say was a scheme to fraudulently induce JPMorgan to make the purchase.
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March 12, 2025
Del. Justices Told Conflicts Tainted AstraZeneca Co.'s $3B Sale
A stockholder class attorney told Delaware's Supreme Court on Wednesday that a vice chancellor never addressed the undisclosed conflicts cited in a Court of Chancery suit accusing AstraZeneca PLC of lining up a conflicted, underpriced $3 billion sale of clinical stage biopharmaceutical venture Viela Bio Inc.
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March 12, 2025
EPA Puts 'Holy Grail Of Climate Change Religion' In Crosshairs
The U.S. Environmental Protection Agency on Wednesday said it is reconsidering its 2009 finding that some greenhouse gases endanger humans' health and welfare — putting the fate of rules that sprang from that landmark conclusion into question.
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March 12, 2025
Crypto Influencer's Counsel Says SEC Will Drop Case
The U.S. Securities and Exchange Commission has agreed to drop its case over cryptocurrency influencer Ian Balina's alleged promotion of so-called SPRK tokens, his attorney said Wednesday.
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March 12, 2025
'I Was Wrong': FTC Atty Flips On Cuts Delaying Amazon Trial
The Federal Trade Commission abruptly backtracked on an in-house attorney's comments about "severe" resource constraints amid the government spending crackdown while urging a Washington federal judge to delay a consumer protection trial against Amazon, with the same attorney telling the court he was wrong in a letter filed hours after a Wednesday status conference.
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March 12, 2025
SEC Says Ex-Allarity Execs Concealed Doomed FDA Approval
The U.S. Securities and Exchange Commission sued three former executives of clinical-stage pharmaceutical company Allarity Therapeutics Inc. in Massachusetts federal court, alleging Wednesday that they schemed to conceal from the public that the company's new drug application for its flagship drug had no chance of gaining regulatory approval.
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March 12, 2025
Panel Decries Judge's Watergate Remarks, Axes $2M Verdict
A Florida appeals court on Wednesday vacated a $2 million verdict in a slip-and-fall suit against Walmart, saying the trial court's comments that allegedly missing video evidence was akin to Nixon's actions in the Watergate scandal signaled his preconceived notion that the company improperly destroyed evidence.
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March 12, 2025
5th Circ. Won't Revive Suit Over $58M Cloud Computing Deal
The Fifth Circuit backed the dismissal of cloud computing company Cloud49's lawsuit against rivals Rackspace Technology and Capgemini, rejecting claims that the companies engaged in tortious interference and trade secrets misappropriation during a Texas state cloud computing contract bid worth more than $58 million.
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March 12, 2025
Coinbase Escapes Direct Listing Suit Despite New Plaintiff Bid
A California federal court has dismissed a proposed class action against Coinbase over its direct listing following the lead plaintiff's decision to leave the suit when the Ninth Circuit dismissed a similar case brought against Slack Technologies, saying the voluntary dismissal counts as a final proceeding.
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March 12, 2025
SEC Answers Latham's Call To Free Up Private Capital
Staff at the U.S. Securities and Exchange Commission issued guidance Wednesday that could allow accredited investors to self-certify their ability to participate in private securities offerings, a move that Latham & Watkins LLP said represents a "new era" for capital fundraising.
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March 12, 2025
Texas Jury Awards Staffing Co. $14M Verdict Against Dynata
A Texas state jury handed a mostly clean sweep to a staffing company that accused market research company Dynata LLC of withholding payment for months of work, awarding about $14 million Wednesday after a trial in a Texas state court that lasted about a week.
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March 12, 2025
Del. Senate Panel Sends Corp. Law Overhaul To Full Chamber
Delaware legislation that could narrow stockholder opportunities to sue state-chartered corporations for fiduciary duty breaches or access to books and records moved to the state's full Senate on Wednesday after a less than 90-minute committee hearing that leaned toward the bill's supporters.
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March 12, 2025
Caribou Biosciences Brass Face Investor's Clinical Trials Suit
Executives and directors of Caribou Biosciences Inc. have been hit with a shareholder's derivative suit alleging that they overstated the safety and efficacy of Caribou's cell therapy and concealed that the company was at risk of being unable to fund its operations.
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March 12, 2025
Del. Justices Uphold LG Co.'s Loss In Firing Challenge
Delaware's top court has backed a Chancery Court ruling that Alphonso Inc., a TV data company majority-owned by an LG subsidiary, was not permitted to push out five co-founders.
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March 12, 2025
Publix Policies Don't Cover Opioid Claims, Court Says
Insurers for Publix have no duty to defend or indemnify the supermarket chain in dozens of public nuisance lawsuits related to the opioid crisis, a Florida federal court said Wednesday, following Publix's renewed request that the court enter a final judgment so it could proceed with appeal.
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March 12, 2025
Crypto CEO Linked To Jack Abramoff Convicted Of Fraud
A California federal jury on Wednesday convicted a cryptocurrency company founder of fraud and money laundering over allegations he stole more than $10 million from tens of thousands of investors in a scheme that involved disgraced ex-lobbyist Jack Abramoff.
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March 12, 2025
Son Of Ex-FIFA VP Avoids Prison In Fraud Case
The son of former FIFA vice president Jack Warner was spared prison time Tuesday, almost 12 years after he pled guilty to falsifying a mortgage application for a Miami condominium and structuring transactions to evade currency reporting requirements.
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March 12, 2025
PwC Singapore Fudged Compliance Test Data, PCAOB Says
PricewaterhouseCoopers' Singapore unit has agreed to pay $1.5 million to settle allegations from the Public Company Accounting Oversight Board that the firm failed to have proper policies and procedures in place for periodic reviews of staff members' financial independence.
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March 12, 2025
Senate Confirms Trump's Pick For DOL Deputy Leader
The U.S. Senate on Wednesday in a party-line vote confirmed President Donald Trump's nominee for deputy labor secretary, the second-in-command of the U.S. Department of Labor.
Expert Analysis
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The Fed. Circ. In 2024: 5 Major Rulings To Know
In 2024, the Federal Circuit provided a number of important clarifications to distinct areas of patent law – including design patent obviousness, expert testimony admissions and patent term adjustments – all of which are poised to have an influence going forward, say attorneys at Knobbe Martens.
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Rethinking Litigation Risk And What It Really Means To Win
Attorneys have a tendency to overestimate litigation risk before summary judgment and underestimate risk after it, but an eight-stage litigation framework can clarify risk at different points and help litigators reassess what true success looks like in any particular case, says Joshua Libling at Arcadia Finance.
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Takeaways From SEC's Registered Investment Cos. Risk Alert
The U.S. Securities and Exchange Commission's Division of Examinations' recent risk alert pertaining to registered investment companies provides a high-level overview of its risk-based approach to selecting RICs for examination — a potential hint that the division is investigating some of the covered topics, say attorneys at Simpson Thacher.
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Roundup
Banking Brief: State Law Recaps From Each Quarter Of 2024
In this Expert Analysis series, throughout 2024 attorneys provided quarterly recaps discussing the biggest developments in banking regulation, litigation and policymaking in various states, including New York, California and Illinois.
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How DOGE's Bite Can Live Up To Its Bark
All signs suggest that the Department of Government Efficiency will be an important part of the new Trump administration, with ample tools at its disposal to effectuate change, particularly with an attentive Republican-controlled Congress, say attorneys at K&L Gates.
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Small Biz Caught In Corporate Transparency Act Crossfire
Despite compliance being put on hold due to a nationwide preliminary injunction, small businesses have been caught in the middle of the legal battle over the Corporate Transparency Act — and confusion over the law's requirements could result in major penalties, say attorneys at Snell & Wilmer.
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Forecasting The Future Of The FTC Post-Inauguration
The incoming Federal Trade Commission leadership's agenda, which is expected to be in sharp contrast with the Biden administration's enforcement posture, will be noticeable right away in the first few weeks of the Trump administration, say attorneys at Cooley.
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5 Notable Information Security Events In 2024
B. Stephanie Siegmann at Hinckley Allen discusses 2024's largest and most destructive data breaches seen yet, ranging from ransomware disrupting U.S. healthcare systems on a massive scale, to tensions increasing between the U.S. and China over cyberespionage and the control of U.S. data.
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Series
Playing Rugby Makes Me A Better Lawyer
My experience playing rugby, including a near-fatal accident, has influenced my legal practice on a professional, organizational and personal level by showing me the importance of maintaining empathy, fostering team empowerment and embracing the art of preparation, says James Gillenwater at Greenberg Traurig.
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Series
Texas Banking Brief: All The Notable Legal Updates In Q4
The fourth quarter of 2024 brought noteworthy developments to the Texas financial services sector, particularly a new state artificial intelligence bill and a Consumer Financial Protection Bureau rule that will affect an outsize number of Texas community banks, says Tyler George at Naman Howell.
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Cyber Disclosure Is A Mainstay In 2025 SEC Exam Priorities
Despite a new administration and a new U.S. Securities and Exchange Commission chair incoming, the SEC's 2025 examination priorities signal that cybersecurity disclosures and risk management practices will remain important due to the growing threat of cyberattacks, says Anjali Das at Wilson Elser.
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Nippon, US Steel Face Long Odds On Merger Challenge
Following the Committee on Foreign Investment in the United States' review of Japan's Nippon Steel's proposed acquisition of U.S. Steel, the companies face a formidable uphill battle in challenging the president's exercise of authority to block the deal on national security grounds, say attorneys at Kirkland.
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Opinion
No, Litigation Funders Are Not 'Fleeing' The District Of Del.
A recent study claimed that litigation funders have “fled” Delaware federal court due to a standing order requiring disclosure of third-party financing, but responsible funders have no problem litigating in this jurisdiction, and many other factors could explain the decline in filings, say Will Freeman and Sarah Tsou at Omni Bridgeway.
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The Compliance Trends And Imperatives On Tap In 2025
The corporate ethics and compliance landscape is rapidly evolving, posing challenges from conflicting stakeholder expectations to technological disruptions, and businesses will need to explore human-centered, data-driven and evidence-based practices, says Hui Chen at CDE Advisors.
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How Trump Presidency May Influence NLRB's Next Phase
Attorneys at Paul Hastings discuss how last year’s key National Labor Relations Board developments may progress once President-elect Donald Trump takes office, including the wave of lawsuits challenging the board’s constitutionality and two landmark board decisions that upset decades of precedent.