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Technology
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October 21, 2024
SEC To Focus On Advisers' Investment Outsourcing In '25
U.S. Securities and Exchange Commission examiners are poised to generally stay the course with their exam priorities in the coming year, with a particular focus on investment advisers that outsource their investment functions, according to a report released Monday.
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October 21, 2024
NYSE, Cboe Win SEC Approval For Bitcoin ETP Options
The U.S. Securities and Exchange Commission has given the New York Stock Exchange and Cboe Global Markets permission to list and trade options of certain bitcoin exchange-traded products, following the long-anticipated approval of the ETPs themselves at the start of this year.
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October 21, 2024
SEC, CFTC Chairs Talk Crypto, AI & Wall Street Texting Sweep
The leaders of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission appeared before an audience of top financial professionals Monday to discuss the future of cryptocurrency and artificial intelligence regulations and to defend against accusations that ongoing probes of brokers' use of off-channel communications were too harsh.
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October 21, 2024
Justices Told Newman's Suspension Preventing Fair Hearings
The owner of a background check patent that was found invalid for claiming only an abstract idea has told the U.S. Supreme Court that it was deprived of a fair hearing at the Federal Circuit due to the suspension of Judge Pauline Newman.
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October 21, 2024
In OpenAI Copyright Case, Court Told, 'Too Many Cooks'
Lawyers for some of the media companies and groups hitting up OpenAI and Microsoft with copyright cases say they have major reservations about marrying their cases, warning about rushed discovery and "forcing too many cooks into the same kitchen."
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October 21, 2024
Google, Meta Want Out Of GoodRx Health Data Sharing Suit
Google, Meta Platforms and Criteo have asked a California federal court to cut them loose from litigation alleging that GoodRx improperly shared patients' protected health information with the tech companies, saying the claims are "fundamentally flawed."
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October 21, 2024
GPS Maker Accused Of Infringing Car Data Monitoring Patent
A Texas company sued GPS tracking device maker Linxup LLC on Monday in North Carolina federal court, accusing it of infringing a patent on a device that can monitor a car's operations data.
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October 21, 2024
Tesla Used AI 'Blade Runner 2049' Image For Sales, Suit Says
When Alcon Entertainment wouldn't let Tesla use an image from "Blade Runner 2049" in an event live-streamed from a Warner Bros. Discovery studio to promote an autonomous taxicab, the electric vehicle giant used an infringing image created by artificial intelligence, according to a lawsuit filed Monday in California federal court.
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October 21, 2024
AI Software Developer Genesys Confidentially Files IPO
Artificial intelligence-based software developer Genesys Cloud Services Inc. said Monday it has confidentially filed plans for an initial public offering with the U.S. Securities and Exchange Commission, joining other AI-linked prospects preparing for IPOs.
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October 21, 2024
SpaceX Firing Suit Belongs In State Court, Ex-Workers Say
Terminated SpaceX employees on Monday urged a California federal judge to remand their hostile work environment and retaliation case to state court due to lack of diversity jurisdiction, arguing that when they first sued, SpaceX's principal place of business was Hawthorne, California, not Starbase, Texas, where the company later moved.
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October 21, 2024
Gov't Seeks To End Most Presumptive 'Buy American' Waivers
The White House said Monday the Federal Acquisition Regulatory Council will remove most items from its list of presumptive exemptions to the "Buy American" requirements for federal acquisitions, including crude oil, furthering the Biden administration's efforts to boost domestic manufacturing.
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October 21, 2024
Belgium Joins French Courts In Telegram CEO Criminal Probe
Belgian investigators have joined French law enforcement in the criminal investigation of Pavel Durov, the CEO of encrypted messaging-platform Telegram, who is charged in France with aiding illegal child pornography, fraud and other crimes, the Paris prosecutor's office announced.
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October 21, 2024
Atty's Brother Says Sibling Feud Is Harassment Campaign
A Michigan attorney's brother and former business partner has accused the attorney of filing baseless lawsuits and harassing his employees in an attempt to squeeze money out of him, as the businessman countered a motion to block him from attending depositions.
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October 21, 2024
DJI Challenges DOD's Chinese Military Co. Designation
Drone manufacturer DJI has challenged its listing as a Chinese military company in D.C. federal court, saying the U.S. Department of Defense's designation was supported by "scattershot" reasoning and has harmed the company's finances and reputation.
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October 21, 2024
Consultants' Bank Data Breach Claim Too Late, Insurer Says
An insurer owes no coverage to consultants defending against a data breach lawsuit involving a California bank because the consultants failed to notify the insurer of the claim in time, the company told a Washington federal court.
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October 21, 2024
McGuireWoods Adds Healthcare Atty From Cooley In NY
McGuireWoods LLP has added a digital health expert from Cooley LLP, aiming to boost its offerings for clients in the space combining healthcare services with information and communications technology, the firm announced Monday.
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October 21, 2024
Lawsuit By Wireless Tech Co. Too Late, Mass. Co. Says
A Massachusetts display technology company urged a Colorado federal judge to find that trade secrets and breach of confidentiality claims lobbed against it from a former business partner were launched too late.
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October 21, 2024
Kirkland, Paul Weiss Build $859M Cybersecurity Biz Merger
Cybersecurity solutions companies Sophos, advised by Kirkland & Ellis LLP, and Secureworks, led by Paul Weiss Rifkind Wharton & Garrison LLP, on Monday announced plans to merge in an all-cash deal valued at roughly $859 million.
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October 21, 2024
Fla. Dept.'s Ex-GC Says Gov.'s Office Directed TV Ad Letters
The former general counsel for the Florida Department of Health said Monday that he was directed by Gov. Ron DeSantis' office to send out letters threatening television stations with criminal prosecution if they did not pull a campaign ad promoting an abortion rights ballot initiative.
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October 18, 2024
Law360 MVP Awards Go To Top Attys From 74 Firms
The attorneys chosen as Law360's 2024 MVPs have distinguished themselves from their peers by securing hard-earned successes in high-stakes litigation, complex global matters and record-breaking deals.
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October 18, 2024
Fintech Group Challenges CFPB's Buy Now, Pay Later Policy
The Financial Technology Association on Friday asked a D.C. federal court to strike down the Consumer Financial Protection Bureau's first-ever rule directed at the fintech-dominated market for buy now, pay later loans, claiming that it violates procedural requirements and "misunderstands" relevant law.
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October 18, 2024
Texas Federal Judge Owned Tesla Stock After Taking X Suit
A Texas federal judge overseeing a high-profile case between X Corp. and a media watchdog bought and sold shares of Elon Musk's automotive company Tesla the same year that X filed the suit, according to financial disclosure reports.
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October 18, 2024
Meta Can't Ax Mass. AG Suit Over Hooking Kids On Instagram
A Massachusetts judge has refused to release Meta Platforms Inc. from the state attorney general's suit alleging the social media giant deployed design features aimed at addicting kids to Instagram, finding Meta wasn't immune from claims based on its own business conduct.
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October 18, 2024
Downstream Lumentum Tippee Settles SEC Claims For $443K
A New Jersey man will pay nearly $443,000 to end the latest insider trading allegations made by the U.S. Securities and Exchange Commission involving the 2021 acquisition of photonics company NeoPhotonics by optical product maker Lumentum Holdings Inc.
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October 18, 2024
Lenovo Can't Use Subsidiary To Dodge IP Suit, Gilstrap Rules
A Texas federal judge on Thursday denied Lenovo Group Ltd.'s bid to toss patent infringement claims brought by a patent licensing company owned by Wi-LAN Inc., rejecting the Chinese computer giant's argument that it is a mere holding company lacking sufficient contacts with the Lone Star State.
Expert Analysis
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Opinion
Now More Than Ever, Lawyers Must Exhibit Professionalism
As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.
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How Tech Trackers May Implicate HIPAA After Hospital Ruling
A recent Texas federal court order in American Hospital Association v. Becerra adds a legal protection on key data, clarifying when tracking technologies implicate the Health Insurance Portability and Accountability Act, so organizations should ensure all technology used is known and accounted for, say John Howard and Myriah Jaworski at Clark Hill.
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What FTX Case Taught Us About Digital Asset Recoverability
FTX's Chapter 11 plan has drawn lots of attention, but the focus should be on the anticipated outcome for investors, which counters several myths about digital currencies, innovation and recoverability, says Kyla Curley at StoneTurn.
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Series
Serving In The National Guard Makes Me A Better Lawyer
My ongoing military experience as a judge advocate general in the National Guard has shaped me as a person and a lawyer, teaching me the importance of embracing confidence, balance and teamwork in both my Army and civilian roles, says Danielle Aymond at Baker Donelson.
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Will Texas Stock Exchange Provide Regulatory Haven?
While the newly proposed Texas Stock Exchange may represent a market reaction to increasingly complex regulations, those looking to list on a national securities exchange should consider that their choice of an exchange may not relieve them of some of the most burdensome public company requirements, say Elizabeth McNichol and Ryan Lilley at Katten.
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Opinion
Proposed Terminal Disclaimers Rule Harms Colleges, Startups
Universities and startups are ill-suited to follow the U.S. Patent and Trademark Office’s recently proposed rule on terminal disclaimers due to their necessity of filing patent applications early prior to contacting outside entities for funds and resources, say attorneys at Sterne Kessler.
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A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates
Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.
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Opinion
Cell Tech Patent Holdup Is Stalling Automaker Innovation
Courts and Congress should seek to stem anticompetitive harm caused by standard-essential patent holders squeezing automakers with unfairly high royalties for cellular connectivity technology, says Charles Haake at Alliance for Automotive Innovation.
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Mitigating Risks Amid 10-Year Sanctions Enforcement Window
In response to recent legislation, which doubles the statute of limitations for actions related to certain U.S. sanctions and provides regulators greater opportunity to investigate possible violations, companies should take specific steps to account for the increased civil and criminal enforcement risk, say attorneys at Freshfields.
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M&A In The AI Era: Key Deal Terms To Watch
As the artificial intelligence market matures, so will due diligence needs, as M&A deals aimed at consolidation and new synergies raise unique legal and regulatory challenges, including potential antitrust and national security reviews, say attorneys at Skadden.
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Opinion
States Should Loosen Law Firm Ownership Restrictions
Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.
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FBI Raid Signals Growing Criminal Enforcement Of Algorithms
The U.S. Department of Justice Antitrust Division's increased willingness to pursue the use of algorithmic pricing as a potential criminal violation means that companies need to understand the software solutions they employ and stay abreast of antitrust best practices when contracting with providers, say attorneys at Rule Garza.
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Trending At The PTAB: Multiple Petitions In IPRs
Recent Patent Trial and Appeal Board decisions and a proposed rulemaking indicate the board’s intention to continue to take a tougher stance on multiple inter partes review petitions challenging the same patent, presenting key factors for petitioners to consider, like the necessity of parallel filings and serial petitions, say Yinan Liu and Cory Bell at Finnegan.
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Unpacking Pressures, Trends Affecting Global Supply Chains
A recent HSBC report reveals a number of trends and challenges for global supply chains in the current uncertain geopolitical landscape, and with constant emerging opportunities, companies that can stay informed, be proactive and adapt to change will be well positioned to succeed, says Michelle Craven-Faulkner at Shoosmiths.
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Series
Solving Puzzles Makes Me A Better Lawyer
Tackling daily puzzles — like Wordle, KenKen and Connections — has bolstered my intellectual property litigation practice by helping me to exercise different mental skills, acknowledge minor but important details, and build and reinforce good habits, says Roy Wepner at Kaplan Breyer.