Corporate

  • March 18, 2024

    Google Evades Sanctions A Second Time In Ex-Employee Suit

    A Texas federal judge denied an ex-Google worker's second attempt to level sanctions against his former employer in the latest tit-for-tat between the parties on Monday, saying that the tech giant had met the court's previous orders on discovery obligations.

  • March 18, 2024

    HSBC Securities Can't Exit Ex-Rep's Whistleblower Suit

    A New York federal judge on Monday green-lit a whistleblower retaliation suit by a former HSBC Securities employee who claimed he was fired for reporting "rampant front-running" by HSBC traders, saying that while certain claims must be trimmed the suit plausibly alleges protected activity was a contributing factor to his termination.

  • March 18, 2024

    Ex-Autonomy CEO's Fraud Trial Over $11.7B HP Deal Kicks Off

    Autonomy's former CEO Michael Lynch duped HP into buying his company at the inflated price of $11.7 billion, a federal prosecutor said Monday during opening statements in the British entrepreneur's criminal trial, while Lynch's lawyer countered his client had "all the money in the world" and no motive to commit fraud.

  • March 18, 2024

    Atty For Ex-Overstock CEO Admits Dominion Discovery Leaks

    A lawyer representing former Overstock.com CEO Patrick Byrne against a defamation lawsuit from Dominion Voting Systems admitted to a D.C. federal judge on Monday that she shared Dominion's discovery documents with law enforcement as Dominion's attorneys decried the leak as a flagrant violation of a court protective order.

  • March 18, 2024

    Meta Wants Emergency Stop Of FTC Privacy Tweaks

    Meta is seeking an immediate injunction to halt the Federal Trade Commission's changes to its 2020 settlement with the company, asking the D.C. Circuit to hear its appeal before the social media giant must respond to a show cause order on why the deal shouldn't be modified.

  • March 18, 2024

    Petrillo Klein Nabs NY Consumer Protection Chief As Partner

    The former acting head of the Consumer Protection and Financial Enforcement Division of the New York State Department of Financial Services has joined Petrillo Klein & Boxer LLP, where he will focus on white-collar defense of both individuals and institutions.

  • March 18, 2024

    Fund Industry Sues SEC To Overturn New Dealer Definition

    Private fund associations sued the U.S. Securities and Exchange in Texas on Monday in the hopes of reversing the agency's recent decision to bring proprietary trading firms and some hedge funds under its authority as securities dealers, a decision that the suing groups have said could drive some hedge funds out of business.

  • March 18, 2024

    SEC's Grewal Defends 'Shadow Trading' Case Ahead Of Trial

    The enforcement director of the U.S. Securities and Exchange Commission on Monday defended the agency's stance in a novel "shadow trading" case one week before it's set to go to trial, saying that while it's the first case of its kind, the underlying allegations aren't new.

  • March 18, 2024

    7th Circ. Wants Del. High Court's Input On Stock Shares Row

    The Seventh Circuit on Friday asked Delaware's top court to clarify a ruling it made earlier this year upholding the enforceability of forfeiture-for-competition provisions in limited partnership agreements, saying it found "meaningful differences" between that case and an ex-manager's bid before it to keep the stock sale proceeds he earned before working for a competitor.

  • March 18, 2024

    The Biggest Trade Secrets Awards In The Last 5 Years

    Trade secrets cases are having a moment in the spotlight, thanks to some gargantuan damages awards over the past five years and more flexibility for plaintiffs to argue for what they think they are owed.

  • March 18, 2024

    Genesis Gets OK For $21M Deal To End SEC Crypto Loan Suit

    A New York federal judge on Monday approved a $21 million settlement to resolve allegations that bankrupt crypto lender Genesis Global Capital LLC violated the U.S. Securities and Exchange Commission's regulations by selling unregistered securities in a joint partnership with crypto exchange Gemini Trust Co.

  • March 18, 2024

    Airgun Exec Hiding Biz Info From Overseer, Court Told

    The receiver of an airgun seller asked the North Carolina Business Court to tighten restrictions on its chief executive, who is accused of using the company as his personal piggy bank, telling the court that the executive is believed to be taking company property and money following "deteriorating cooperation."

  • March 18, 2024

    Energy Co. Exec Cops To $5.5M Commodity Kickback Scheme

    A former president of a Texas energy company has pled guilty to fraudulently trading natural gas futures contracts and receiving $5.5 million in illegal kickbacks for the associated trades, the U.S. Department of Justice has said.

  • March 18, 2024

    Amazon Again Tries To Sink NBA 2K Facial Scan Claims

    Amazon is insisting it did not run afoul of Illinois' biometric privacy law, saying an amended complaint in a proposed class action in Washington federal court has failed to show the e-commerce company's cloud service collected or disclosed facial scans of teens playing the hit game NBA 2K.

  • March 18, 2024

    Voyager Investors Suing Mark Cuban Seek Class Cert.

    Investors suing billionaire Mark Cuban over his role in promoting now-bankrupt Voyager Digital Ltd. have pushed for class certification and urged the court to rule that Voyager was selling unregistered securities.

  • March 18, 2024

    Del. Suit Details Wrongful Takeover Of Telecom System Co.

    The founder and former CEO of a Florida-headquartered telecommunications infrastructure building company has sued the head of an investment firm and others Monday in Delaware's Court of Chancery, accusing them of carrying out a "fraudulent scheme" to wrest control of the business.

  • March 18, 2024

    Tesla Trial To Test Bounds Of Autonomous Cars' Future

    An upcoming California trial seeking to hold Tesla accountable for the death of a driver who had been playing games on his cellphone while his vehicle was in Autopilot may force the auto industry to recalibrate its approach to advanced driver-assistance systems, as developers pushing fully autonomous transportation stare down the threat of new legal landmines, experts say.

  • March 18, 2024

    Apple Beats Most Claims In AirTag Stalking Suit, For Now

    A California federal judge has dismissed the majority of a proposed class action accusing Apple of not doing enough to safeguard its AirTag tracking device from being abused by stalkers, saying that apart from a few negligence and product liability claims under Golden State law, the rest need to be reworked.

  • March 18, 2024

    Leerink Enticed Goldman Exec With False Promises, Suit Says

    An investment banker says she was lured away from a senior position at Goldman Sachs to Boston-based Leerink Partners with what turned out to be a meaningless job title and false promises of guaranteed bonuses, according to a lawsuit filed Monday in Massachusetts state court.

  • March 18, 2024

    Singer Seeks Chancery OK To Pull Plug On Licensee Rights

    The owner of rights and trademarks of Singer sewing machine products has sued its North American distributor in Delaware's Court of Chancery, seeking a court declaration that it could end their contract because the distributor failed to meet minimum billing and royalties requirements.

  • March 18, 2024

    Trump Says He Can't Secure Bond For $465M Fraud Judgment

    Former President Donald Trump told a New York appellate court Monday that posting bond while he appeals a $465 million judgment against him and his business empire for allegedly defrauding banks and insurers is a "practical impossibility."

  • March 18, 2024

    Google Defeats BIPA Suit Over IBM Face Dataset, For Now

    Google has defeated a proposed class action by Illinois residents who accused the company of violating the state's biometric privacy laws with facial data collected by IBM, after a California federal judge said their claims don't establish that Google's alleged violations took place in the Prairie State.

  • March 18, 2024

    2 Investment Firms To Pay SEC $400K For 'AI Washing'

    The U.S. Securities and Exchange Commission on Monday said it had reached settlements totaling $400,000 with a pair of investment advisers over claims that they made false and misleading statements about their use of artificial intelligence.

  • March 18, 2024

    Tesla Settles Suit Alleging Pervasive Racism At Calif. Factory

    Tesla told a California federal court it has agreed to settle a Black former subcontractor's long-running suit alleging he faced rampant racist harassment at one of the carmaker's factories, ending a battle over how much Tesla would pay him after getting a massive damages award overturned.

  • March 18, 2024

    One Of Longest-Serving Del. Superior Court Judges Is Retiring

    Delaware's Superior Court is set to lose one of its longest-serving judges, Judge Mary M. Johnston, who is retiring on a yet-to-be disclosed date.

Expert Analysis

  • How Private Funds Can Navigate New FinCEN Reporting Rules

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    In light of the Financial Crimes Enforcement Network's new regulations implementing beneficial ownership reporting requirements, private fund managers must assess whether certain obligations apply to entities within their structures and whether potential structural changes could simplify those obligations, say attorneys at Winston & Strawn.

  • Md. May See Vigorous Resale Price Maintenance Enforcement

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    In Maryland, indications of a new focus on resale price maintenance agreements are significant because state prosecution in this area has been rare, particularly outside California, say attorneys at DLA Piper.

  • What 2 Years Of Ukraine-Russia Conflict Can Teach Cos.

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    A few key legal lessons for the global business community since Russia's invasion of Ukraine could help protect global commerce in times of future conflict, including how to respond to disparate trade restrictions and sanctions, navigate war-related contract disputes, and protect against heightened cybersecurity risks, say attorneys at Morgan Lewis.

  • Uncertainty Surrounds Patent Eligibility Restoration Bill

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    A recent U.S. Senate hearing regarding the Patent Eligibility Restoration Act, a bill that aims to overhaul patent eligibility law and establish clearer statutory exclusions, marks a pivotal moment in the ongoing patent eligibility debate, but the law’s fate remains uncertain as discussions continue, say attorneys at Marshall Gerstein.

  • Assessing 2 Years Of High Court's Arbitration Waiver Ruling

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    In the two years since the U.S. Supreme Court's decision in Morgan v. Sundance, clarifying that no special rules apply to waiver of arbitration provisions, the ruling has had immediate ramifications in federal courts, but it may take some time for the effects to be felt on other federal issues and in state courts, say attorneys at Norton Rose.

  • Risks Of Nonmutual Offensive Collateral Estoppel In MDLs

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    After the Supreme Court declined to review the Sixth Circuit's ruling in the E.I. DuPont de Nemours & Co. personal injury litigation, nonmutual offensive collateral estoppel could show up in more MDLs, and transform the loss of a single MDL bellwether trial into a de facto classwide decision that binds thousands of other MDL cases, say Chantale Fiebig and Luke Sullivan at Weil Gotshal.

  • Antitrust Enforcers' Views On Info Exchanges Are Evolving

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    As antitrust enforcers' views on information exchanges between competing companies have matured in response to technological advances, companies would do well to reconsider whether the exchanges in which they participate meet the most recent compliance benchmarks, say attorneys at Norton Rose.

  • Infringement Policy Lessons From 4th Circ. Sony Music Ruling

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    The Fourth Circuit's recent decision in Sony Music v. Cox Communications, which in part held that the internet service provider was liable for contributing to music copyright infringement, highlights the importance of reasonable policies to terminate repeat infringers, and provides guidance for litigating claims of secondary liability, say Benjamin Marks and Alexandra Blankman at Weil.

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • Innodata Suit Highlights 'AI Washing' Liability Risk For Cos.

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    A class action against software company Innodata over so-called AI washing, one of the first of its kind, underscores the litigation and enforcement risks that can arise from the U.S. Securities and Exchange Commission's novel theory about misleading artificial intelligence capabilities, say attorneys at Bracewell.

  • For Now, Generative AI Is Risky For Class Action Counsel

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    Although a recent survey showed most in-house counsel think that their outside counsel should be using generative artificial intelligence "in some way" in class action work, the technology is more a target for class actions than it is a tool to be used in practice at present, says Matthew Allen at Carlton Fields.

  • Shaping Speech Policies After NLRB's BLM Protest Ruling

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    After the National Labor Relations Board decided last month that a Home Depot employee was protected by federal labor law when they wore a Black Lives Matter slogan on their apron, employers should consider four questions in order to mitigate legal risks associated with workplace political speech policies, say Louis Cannon and Cassandra Horton at Baker Donelson.

  • The Epic Antitrust Cases And Challenges Of Injunctive Relief

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    The Epic cases against Apple and Google offer a window into the courts' considerable challenges in Big Tech litigation and establishing injunctive relief that enhances competition and benefits consumers, say Kelly Lear Nordby and Jon Tomlin at Ankura Consulting.

  • Banks Should Continue To Prep For CFPB Data Rule Rollout

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    Consumer Financial Protection Bureau-supervised banks should not expect industry pressure to delay the rollout of proposed Section 1033 open banking rules, which regulate how consumer financial information flows between financial institutions, and prepare their required data access portals and compliance procedures now, say attorneys at Troutman Pepper.

  • UMG-TikTok IP Rift Highlights Effective Rights Control Issues

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    Despite Universal Music Group's recent withdrawal of TikTok's licensing rights to its music catalog, the platform struggles to control uploads and reproductions of copyrighted material, highlighting the inherent tension between creative freedom and effective rights control in the age of social media, says Simon Goodbody at Bray & Krais.

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