Corporate

  • December 19, 2014

    Calif. Panel Says Concepcion Defeats Broughton-Cruz Rule

    A California appellate panel Thursday bolstered the Federal Arbitration Act's preemption in the Golden State, finding the U.S. Supreme Court's Concepcion decision and the state high court's Iskanian ruling defeat a judge's reliance on the Broughton-Cruz rule to deny Citibank NA's bid to arbitrate an insurance consumer class' injunctive-relief claims.

  • December 19, 2014

    Staples Says More Than 1M Customer Cards Breached

    Staples Inc. said Friday that as many as 1.16 million customer payment cards may have been compromised by a recent data breach that affected payment systems in more than 100 of the retailer's stores throughout the U.S.

  • December 19, 2014

    MetroPCS Settles NY, Calif. Overtime Pay Claims For $1.85M

    A New York state judge has approved a $1.85 million settlement between MetroPCS Wireless Inc. and account services representatives who accused the telecom of failing to pay them overtime wages, resolving New York and California labor law claims claims remaining from a federal collective action.

  • December 19, 2014

    Calif. Appeals Court Backs State Agency's Sales Tax Rule

    A California appeals court on Thursday said the state tax board had been correctly applying state and local sales and use tax law and overturned a lower court's decision that threw out a state tax regulation that had been challenged by seven California cities.

  • December 19, 2014

    The Biggest M&A Moments Of 2014: First Half

    Deal makers' strong start to 2014 put the year on pace to hit high marks not seen since the financial crisis, priming the mergers and acquisitions marketplace for a long-awaited resurgence that has since taken firm hold.

  • December 19, 2014

    NLRB Targets McDonald's, Franchisees As 'Joint Employers'

    The National Labor Relations Board said Friday it has issued complaints targeting both McDonald's USA LLC and McDonald's franchisees over labor law violations, alleging that the "joint employers" violated the rights of workers who took steps to try to improve their working conditions that included participation in nationwide protests. 

  • December 18, 2014

    US Extends Job Bias Protection To Transgender People

    The government can now bring claims against employers on behalf of workers who say they’ve been discriminated against because they are transgender, according to a memo released by the U.S. Department of Justice on Thursday.

  • December 18, 2014

    Sony Hit With 2 More Suits Over 'The Interview' Hack

    Sony Pictures Entertainment Inc. is facing two more putative class actions from employees whose personal information was leaked as part of a massive hack directed at the movie studio over its comedy “The Interview,” about a plot to kill North Korea's Kim Jong Un.

  • December 18, 2014

    NY Eases BitLicense Rules, But Compliance Worries Remain

    New York’s top financial regulator on Thursday said he would ease the record-keeping requirements in the state’s proposal for a virtual currency licensing regime and provide a transitional license for startups, but concerns remain that the final rule will set too high a bar for anti-money laundering compliance.

  • December 18, 2014

    Target Data Breach Suit Left Largely Intact

    A Minnesota federal judge on Thursday left largely intact a consolidated consumer class action filed against Target Corp. over its infamous 2013 holiday data breach, dismissing a few state and other claims but allowing the plaintiffs to continue with the majority of the suit.

  • December 18, 2014

    Kmart Faces Class Action From Bank Over Data Breach

    A Louisiana-based bank has hit Kmart Corp. with a putative class action in Illinois federal court accusing the retailer of relying on outdated security measures that failed to detect malware that infiltrated its systems, despite being put on notice of the hackers' techniques by similar breaches at Target Corp. and others.

  • December 18, 2014

    MetLife Deemed Systemically Important By Regulators

    The Financial Stability Oversight Council has issued a final determination that MetLife Inc. is a systemically important financial institution, which will force the insurer to meet higher prudential standards and subject it to Federal Reserve oversight, the company said Thursday.

  • December 18, 2014

    NLRB Judge Finds Against Hillshire In Organizing Beef

    An administrative law judge for the National Labor Relations Board on Wednesday ruled that Hillshire Brands Co. broke federal labor law when management at a Texas plant called the police over handbilling on a public easement and threatened workers with termination if they joined a union.

  • December 18, 2014

    Dish TCPA Ruling Puts Bull's-Eye On Big-Name Companies

    An Illinois federal judge last week found Dish Network LLC liable for tens of millions of third-party telemarketing sales calls that could expose the company to billions of dollars in damages, a ruling likely to hasten the flood of class actions seeking to hold large companies responsible for smaller entities' alleged telemarketing violations.

  • December 18, 2014

    Top NY Financial Cop Pushes For Faster Payment Clearances

    New York's top financial regulator on Thursday said his agency and its federal counterparts should consider pushing banks to speed up the “disco era” system in place for processing payments.

  • December 17, 2014

    2nd Circ. Says $5M Punitive Award For Racism Needs Cut

    The Second Circuit on Wednesday said a New York federal judge did not go far enough in cutting a $24 million punitive damages award against ArcelorMittal SA in a steelworker's racial discrimination case to $5 million, saying the reduced award was still excessive.

  • December 17, 2014

    RadioShack Shells Out $700K To Settle OT Class Action

    RadioShack Corp. agreed to pay $700,000 on Tuesday to settle a class action accusing the electronics retailer of depriving Pennsylvania employees of overtime pay with a “fluctuating workweek” compensation method, roughly five months after the system was found to be in violation of the state’s minimum wage act.

  • December 17, 2014

    ICANN Email Credentials, User Data Lifted In Cyberattack

    The nonprofit organization that manages Internet domain names and addresses said Tuesday that it was the target of a spear-phishing attack that compromised the email credentials of several staff members as well as the names, passwords and other account details belonging to certain domain registries.

  • December 17, 2014

    Countrywide Whistleblower Nabs $58M Over BofA Deals

    A former Bank of America Corp. executive whose tips about mortgage fraud led to two landmark judgments against the firm will receive nearly $58 million in whistleblower awards, according to recently released New York federal court documents.

  • December 17, 2014

    Avon China Pleads Guilty In $135M DOJ, SEC Deal

    Avon Products Inc. received court approval Wednesday for half of a $135 million settlement to end DOJ and SEC investigations over the beauty giant's business practices in China, as its unit based there entered a guilty plea to Foreign Corrupt Practices Act misdeeds.

Expert Analysis

  • DOJ Focus On Corporate Crimes: Turn Risk Into Opportunity

    Eli Richardson

    In this tough enforcement environment, there is a silver lining for corporate America. Counsel should recognize that the climate is right to approach the U.S. Department of Justice on behalf of their clients who are victims of corporate crime, says Eli Richardson, a member at Bass Berry & Sims PLC and former federal prosecutor.

  • Why You Should Pay Attention To The OECD Bribery Report

    Laurel Lichty

    A recent report from the Organization for Economic Cooperation and Development offers an analysis of 427 foreign bribery cases from member nations since the OECD convention came into force in 1999, and provides a unique opportunity to anticipate where regulators may be more active in the future and consider how corporate compliance programs can be better equipped to detect corruption, says Laurel Lichty of Integreon Inc.

  • OFAC Compliance: 5 Challenges You May Face In 2015

    Sven Stumbauer

    Criminal penalties for willful violations of Office of Foreign Assets Control sanctions can include fines of up to $20 million and imprisonment of up to 30 years. Worse yet, a single transaction can produce multiple violations. Given those risks, many boards and senior executives have moved OFAC compliance to the top of their agendas, says Sven Stumbauer of AlixPartners LLP.

  • A Murky Trade Secret Landscape: What Employers Can Do

    Robert Hanna

    The Arizona Supreme Court’s recent decision in Orca Communications Unlimited LLC v. Noder permitting common law tort claims for misappropriation of confidential information that do not fall under the definition of trade secret may indicate a trend toward state courts reconsidering their positions on this issue, say Robert Hanna and Stephanie Rzepka of Tucker Ellis LLP.

  • Top 10 Things To Know About Obama’s Cuba Announcement

    Les P. Carnegie

    While signaling a dramatic shift in the U.S.-Cuba relationship, the president’s authority to lift sanctions is limited in several key respects, say attorneys with Latham & Watkins LLP.

  • Congress Surprisingly Passes Several Cybersecurity Bills

    Paul M. Tiao

    With many observers expecting little legislative activity on cybersecurity before the end of the year, that Congress has passed and sent major cybersecurity legislation to the White House for the first time in 12 years may signal Congress’ intent to address systems protection issues more thoroughly in the next two years, say Paul Tiao and Eric Hutchins of Hunton & Williams LLP.

  • What Happens When Legal Aid Cuts Stimulate Pro Bono?

    Kevin J. Curnin

    The bad news coming out of the European Pro Bono Summit in November was the rising toll of heavy cuts to public legal aid in England. From this crossroad, there is a lot to be learned about the relationship between public and private assistance, the direction of legal help for the poor in the EU, and whether the American legal aid/pro bono experience offers a road map for what’s next in Europe, says Kevin Curnin of the Association ... (continued)

  • Chancery Court Speaks To Underlying Reality of Influence

    John E. Sorkin

    In Zhongpin Inc. Stockholders Litigation, the Delaware Chancery Court found the plaintiffs had pled sufficient facts to raise an inference that company founder, chairman and CEO Xianfu Zhu was a controlling stockholder — even though he owned only 17 percent of the stock and had not controlled the directors’ decision relating to his going-private bid. A greater willingness to cooperate in the transaction would have advantaged Zhu's ... (continued)

  • What's Missing From Many Lawyers' Cyberinsurance Advice

    Daniel Garrie

    Unfortunately I am watching many companies, law firms and accounting firms purchase cybersecurity insurance that is insufficiently effective, overly expensive or both. While insurance is necessary and important, it must be paired with the deployment of hardware and software systems and a review of existing policies and agreements, says Daniel Garrie of Law & Forensics LLC.

  • Key Changes To ISS And Glass Lewis Voting Guidelines

    Teri E. O’Brien

    Proxy advisory firms Institutional Shareholder Services and Glass Lewis & Co. recently released updates to their respective voting guidelines for the 2015 proxy season. Paul Hastings LLP attorneys have mapped out the key changes.