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Technology
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June 11, 2024
Amplitude Execs Face Suit Over Post-IPO Share Inflation
Current and former insiders of business software maker Amplitude were hit with a shareholder derivative suit claiming they profited from misrepresentations they made about the likelihood of the company sustaining its revenue growth following its initial public offering.
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June 11, 2024
Attys For Restaurant Software Investors Ring Up $2.25M Fee
Attorneys representing investors in a suit against restaurant software company Olo Inc. will receive $2.25 million for brokering settlement of class action claims alleging the company touted an ill-fated partnership with sandwich chain Subway as an example of its success.
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June 11, 2024
Listing Co. Urges Court To Ignore DOJ's Broker Deal Issues
A multiple listing service that has struck a $3 million settlement over broker commission rules told a Massachusetts federal court the changes proposed by the U.S. Department of Justice go far beyond what's required and would create an antitrust problem in the real estate industry.
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June 11, 2024
Prison Phone Cos. Want To Factor Security Cost Into Rates
Prison phone call providers need to be allowed to factor the cost of safety and security features into the rates that they charge incarcerated people to contact their loved ones, a trio of companies has told the Federal Communications Commission.
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June 11, 2024
Calif. Judge Won't Let Apple Escape Tech Patent Case
A California federal judge has found Apple can't dodge a patent suit, allowing claims to move forward that the tech giant's "back tap" feature infringes a patent owned by technology company Haptic Inc.
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June 11, 2024
Quinn Emanuel Swapped Sides For X Suit, Data Co. Says
Israeli data collector Bright Data Ltd. asked a California federal judge on Tuesday to disqualify law firm Quinn Emanuel Urquhart & Sullivan LLP from representing social media company X Corp., which is suing Bright Data over its data-scraping practices, accusing the firm, which was once contracted by the data company for advice in a similar matter, of switching sides.
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June 11, 2024
NFL Balks At Delays, Amendments To Mobile App Privacy Suit
A proposed class action alleging that the NFL failed to protect data on its mobile app should not be allowed to replace the lead plaintiff, especially after he has exhibited a "lack of diligence and delay" during the suit, the league told a Rhode Island federal judge Tuesday.
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June 11, 2024
9th Circ. Judge On Theranos Appeal: 'Good Story' For Holmes
Two Ninth Circuit judges on a three-judge panel expressed concerns Tuesday that the district judge presiding over convicted former Theranos CEO Elizabeth Holmes' criminal trial erred by allowing a layperson witness to offer expert testimony at trial, with one judge saying, "There's a pretty good story here for Ms. Holmes."
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June 11, 2024
HashiCorp Hit With Investor Suit Over $6.4B Sale To IBM
Software company HashiCorp Inc. and its board members face an investor suit seeking to halt an upcoming shareholder vote on a proposed $6.4 billion acquisition of HashiCorp by tech giant IBM, alleging the deal would unfairly benefit company insiders and hasn't been properly detailed in required filings.
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June 11, 2024
AI No Scarier Than Nail Guns Or Microscopes, Kappos Says
Former U.S. Patent and Trademark Office Director David Kappos cautioned attorneys Tuesday to "keep ourselves grounded" about the use of artificial intelligence in intellectual property, saying it's just a tool like a microscope or nail gun, rather than something justifying "panic."
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June 11, 2024
4 More States Join DOJ's Antitrust Suit Against Apple
The attorneys general of Washington, Massachusetts, Nevada and Indiana on Tuesday became the latest to join the U.S. Department of Justice's antitrust lawsuit in New Jersey federal court claiming Apple is monopolizing the smartphone market.
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June 11, 2024
Roblox Based Forecast On 'Tenuous' Factors, Investor Says
A Roblox Corp. shareholder accused the online gaming platform in California federal court Monday of misleading investors with projected online sales revenue that came in at least $100 million short, boasting of its technology developments and advertising efforts despite knowing those revenue opportunities were "tenuous at best."
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June 11, 2024
FCC Looks To Fine Telecom $2.6M For Failing To Pay Fees
The Federal Communications Commission said Tuesday it plans to fine a Texas telecom $2.65 million for failing to pay required fees to support an array of FCC programs, including low-income subsidies, services for disabled consumers and phone number portability.
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June 11, 2024
Biz Groups Urge 6th Circ. To Put Net Neutrality On Hold
Industry groups want the Sixth Circuit to put the Federal Communications Commission's net neutrality rules on hold while they are litigated and to reject an FCC bid to move numerous consolidated challenges to the D.C. Circuit.
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June 11, 2024
SEC Probing Autodesk After Accounting Practices Report
Autodesk Inc. said the U.S. Securities and Exchange Commission is investigating the software corporation after it voluntarily contacted the regulatory body to inform it of the company's own internal investigation into its free cash flow and non-generally accepted accounting principles operating margin practices.
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June 11, 2024
Slow IPO Recovery Expected To Accelerate In 2025
More companies are preparing initial public offerings even as the pace of new listings has been slower than anticipated, experts said Tuesday, signaling that an IPO recovery is likely to accelerate next year after investors sort out November election results.
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June 11, 2024
Adeia, X Reach Deal In IP Dispute
A California federal judge has agreed to stay a case where X, formerly known as Twitter, filed a declaratory judgment action against Adeia, while the parties work through a settlement.
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June 11, 2024
AlphaSense Valued At $4B After $650M Investment Round
New York-based market intelligence platform AlphaSense said Tuesday it has raised $650 million in funding as part of an agreement to buy data provider Tegus, valuing AlphaSense at $4 billion.
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June 11, 2024
AI Hiring Platform's Ex-CEO Charged With $27M Fraud
The founder of hiring startup Joonko Diversity Inc. has been charged with fraud, with prosecutors saying Tuesday that she deceived investors into dumping $27 million into a platform that supposedly used artificial intelligence to help companies recruit diverse job candidates.
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June 11, 2024
Heinz Charity Says Ex-Adviser Stole Almost $1M Via Sham Co.
A technology adviser for the Pittsburgh-based Heinz Endowments embezzled nearly a million dollars by steering payments to a company he secretly owned for work it never did, then tried to cover his tracks when he came under investigation, the endowments claimed in a federal lawsuit.
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June 11, 2024
JPML Consolidates AT&T Data Breach Suits In Texas
Thirty lawsuits brought against AT&T over a data breach that left 70 million customers' information on the dark web are being consolidated in the Northern District of Texas, with the Judicial Panel on Multidistrict Litigation ruling that proximity to AT&T headquarters will bring added efficiency to the proceedings.
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June 11, 2024
Pa. County Can't Give Voting Machine Data To Mich. Atty
A Pennsylvania judge on Tuesday blocked Fulton County commissioners from giving data copied from the county's Dominion Voting Systems equipment to an attorney and Donald Trump ally facing criminal charges for illegally accessing voter information in Michigan.
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June 11, 2024
Texas AG Urges DC Circ. To Revive Media Matters Probe
Texas Attorney General Ken Paxton wants the D.C. Circuit to revive his investigation into progressive media watchdog Media Matters' reporting on the social media platform X, saying the D.C. federal court had no authority to interfere with the probe.
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June 11, 2024
Paramount Asks Court To Send 'Top Gun' IP Suit Packing
Paramount Pictures has asked a California federal court to dismiss a right of publicity complaint from the actor who played Henry "Wolfman" Ruth in the original "Top Gun" movie, saying his claim over a photo of his character included in the film's sequel without his permission falls squarely under the so-called Rogers test, a free speech doctrine that protects expressive works.
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June 11, 2024
Spat Over Texas Trial, Vacation Plans Ends With New Date
A Texas appeals court has dismissed a tech company's mandamus petition stating that a Harris County court scheduled a trial in its case despite several attorney vacation letters after the parties said the trial court moved the date.
Expert Analysis
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Employer Pointers As Wage And Hour AI Risks Emerge
Following the Biden administration's executive order on artificial intelligence, employers using or considering artificial intelligence tools should carefully assess whether such use could increase their exposure to liability under federal and state wage and hour laws, and be wary of algorithmic discrimination, bias and inaccurate or incomplete reporting, say attorneys at ArentFox Schiff.
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Webpages Must Meet Accessibility Standard To Be Prior Art
The Patent Trial and Appeal Board's First Solar Inc. v. Rovshan Sade decision, that an available internet resource doesn't necessarily qualify as a prior art "printed publication" that is publicly accessible, serves as a reminder of the unforgiving requirements that must be satisfied to establish that a reference is a printed publication, say attorneys at Akin.
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Employers, Prep For Shorter Stock Awards Settlement Cycle
Companies that provide equity compensation in the form of publicly traded stock will soon have one less day to complete such transactions under U.S. Securities and Exchange Commission and Nasdaq rules — so employers should implement expedited equity compensation stock settlement and payroll tax deposit procedures now, say attorneys at Morgan Lewis.
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The Pros And Cons Of Protecting AI As Trade Secrets
Despite regulatory trends toward greater transparency of artificial intelligence models, federal policy acknowledges, and perhaps endorses, trade secret protection for AI information, but there are still hurdles in keeping AI information a secret, say Jennifer Maisel and Andrew Stewart at Rothwell Figg.
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Complying With Enforcers' Ephemeral Messaging Guidance
Given federal antitrust enforcers’ recently issued guidance on ephemeral messaging applications, organizations must take a proactive approach to preserving short-lived communications — or risk criminal obstruction charges and civil discovery sanctions, say attorneys at Manatt.
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New FinCEN Guide Provides Useful BOI Context For Banks
Financial institutions should review a new Financial Crimes Enforcement Network compliance guide for helpful details about how the agency's beneficial ownership information database should be used, though questions remain about the access rule and whether it will truly streamline bank borrowers' Corporate Transparency Act due diligence, says George Singer at Holland & Hart.
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What's New In FDA's Updated Data Monitoring Guidance
The U.S. Food and Drug Administration's new guidance on the use of data monitoring committees in clinical trials is set to replace the agency's 2006 guidance on the topic, with notable updates including stronger language indicating a more stringent stance against financial conflicts of interest and adaptation to recent changes in DMC structure, say attorneys at Hogan Lovells.
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Strategies For Single-Member Special Litigation Committees
The Delaware Supreme Court's recent order in the Baker Hughes derivative litigation allowing testimony from a single-member special litigation committee highlights the fact that, while single-member SLCs are subject to heightened scrutiny, they can also provide unique opportunities, says Josh Bloom at MoloLamken.
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How Firms Can Ensure Associate Gender Parity Lasts
Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.
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Bracing Cos. For Calif. Privacy Agency's Restored Authority
A recent California state appeals court decision greenlights the California Privacy Protection Agency's enforcement of certain consumer privacy regulations, which may speed up compliance requirements, so businesses considering use of artificial intelligence, for instance, may want to reassess their handling of privacy notices and opt-out requests, say Kevin Angle and Matthew Cin at Ropes & Gray.
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Fed. Circ. In Feb.: Using Prior Products To Invalidate A Patent
The Federal Circuit's recent Weber v. Provisu ruling, that prior-product operating manuals constituted printed publications that can be used to invalidate patents in an inter partes review proceeding, makes it easier for a petitioner to invalidate a patent, say Sean Murray and Jeremiah Helm at Knobbe Martens.
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How Cos. Can Assess Open-Source Contribution Patent Risks
Recent trends underscore the importance of open-source software to the technology industry for both engineering and strategic purposes, and companies should consider using a framework that addresses whether contributions require granting licenses to patent claims in portfolios to analyze associated risks, says Shrut Kirti at TAE Technologies.
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7 Common Myths About Lateral Partner Moves
As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.
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Following The Road Map Toward Quantum Security
With the Financial Conduct Authority’s recent publication of a white paper on a quantum-secure financial sector, firms should begin to consider the quantum transition early — before the process is driven by regulatory obligations — with the goal of developing a cybersecurity architecture that is agile while also allowing for quantum security, say lawyers at Cleary.
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What's At Stake In Pending Fed. Circ. Design Patent Test Case
The full Federal Circuit recently heard argument in LKQ v. GM Global, a case concerning patent obviousness in the aftermarket for auto parts; the court's decision will likely influence how design patents are obtained, enforced and challenged, and affect the broader innovation ecosystem, says Larry DeMeo at Hunton.