Bank of America Corp. agreed Wednesday to pay $20 million to settle part of a multidistrict litigation accusing it and other financial institutions of bid-rigging in the municipal bond derivatives market.
Online advertising industry players on Wednesday debated what disclosures should accompany ads designed to look like content, as the Federal Trade Commission grapples with the potential of so-called native advertising to mislead consumers.
The American Bar Association's taxation section urged the House Ways and Means Committee on Tuesday to simplify international provisions of the U.S. Tax Code, citing hefty compliance burdens.
The agency that enforces privacy provisions of the Health Insurance Portability and Accountability Act hasn’t performed required audits of how corporations handle patient information and failed to guarantee the security of its own records, according to an inspector general’s report released Wednesday.
A California federal magistrate on Monday refused to certify a class of more than 50,000 CVS Caremark Corp. workers in a lawsuit accusing the pharmacy chain of violating state law by failing to pay employees for time spent making deliveries between stores.
New proposed rules to limit the number and scope of questions New York lawyers can pepper each other with in corporate litigation were published Tuesday as the Empire State seeks to streamline how its beleaguered Commercial Division handles its growing caseload.
The U.S. Equal Employment Opportunity Commission asked the full 10th Circuit to reconsider a panel ruling that Abercrombie & Fitch Stores Inc.'s refusal to hire a Muslim woman because of her headscarf didn't amount to religious discrimination.
The U.S. Supreme Court should have dug deeper into legislative history to anchor its Tuesday ruling that valuation misstatement penalties apply to certain tax shelter transactions, attorneys say, arguing the court's insistence on statutory plain meaning glossed over tensions that practitioners haven't been able to resolve.
The Fourth Circuit on Tuesday refused to compel ex-Cellular Sales workers to arbitrate their putative collective and class action accusing the Verizon Wireless retailer of wage violations, ruling an arbitration provision in their employment contracts didn't cover the claims at issue.
The Fifth Circuit handed employers a major victory Tuesday by rebuffing the National Labor Relations Board's ban on employment class waivers, but attorneys say the issue remains far from resolved and eventually will end up at the U.S. Supreme Court.
The U.S. Supreme Court grilled attorneys for Static Control Components Inc. and Lexmark International Inc. on Tuesday over allegations that Lexmark falsely told customers that Static Control's products were patent infringing, pressing them to explain which test should be used to determine who is allowed to sue under federal false advertising law.
Countries in talks for the Trans-Pacific Partnership must reach tough compromises on difficult issues, and the proposed trade pact should be used to resolve long-standing economic frictions between Japan and the U.S., Vice President Joe Biden said Tuesday.
A Florida federal judge on Tuesday allowed women who brought a regional gender bias lawsuit against Wal-Mart Stores Inc. to try to revive their class claims, finding that recent high court precedent may have affected the grounds for their dismissal.
The U.S. Supreme Court on Tuesday unanimously reversed a Fifth Circuit decision on the enforceability of a choice of forum clause in a subcontract for federal construction work, ruling that federal courts should only disregard such clauses in extraordinary circumstances.
The U.S. Supreme Court on Tuesday reversed a Fifth Circuit decision allowing the former owner of the Minnesota Vikings football team to escape millions of dollars in tax liability, saying the Internal Revenue Code's valuation misstatement penalty applies to certain sham transactions used to evade taxes.
The Fifth Circuit on Tuesday rejected the National Labor Relations Board's ruling that arbitration agreements barring employees from pursuing class or collective claims violate federal labor law, siding with homebuilder D.R. Horton Inc.
A Michigan bankruptcy judge on Tuesday ruled, as expected, that Detroit is eligible for Chapter 9 relief, despite the tireless efforts of city workers and retirees to keep the case from moving forward out of fear that they will be the ones forced to endure the largest concessions.
A Ninth Circuit panel forced arbitration of customers’ claims that DirecTV Inc. did not properly disclose its early cancellation fees, ruling Monday that the U.S. Supreme Court's Concepcion decision prevented plaintiffs from blocking DirecTV’s arbitration policy.
The wave of wage-and-hour class actions lodged by unpaid interns has spurred some companies to ax their internship programs, and with the Second Circuit now agreeing to weigh in on cases against Fox Entertainment Group Inc. and Hearst Corp., attorneys say more interns could be sent packing.
The Eleventh Circuit on Monday upheld a $335,000 default judgment against a seller of counterfeit Louis Vuitton Malletier SA products, saying the defendant failed to show the lower court did not have personal jurisdiction over him.
If it’s the holiday season — a time for charity and good deeds — it must also be the time for nonprofit scandals, mismanaged money and outright fraud. The United Way of America and Progressive Policy Institute cases offer many lessons that boards of charities should take to heart, says Terry Lenzner of Investigative Group International.
What is the thinking as to whether leaky air conditioner cases warrant multidistrict litigation treatment? On Dec. 5, the Judicial Panel on Multidistrict Litigation heads to Vegas to find out. This will bring a temperature shift in more ways than one from the September hearing, where the panel considered a potential MDL proceeding arising from allegedly defective clothes dryers, says Alan Rothman of Kaye Scholer LLP.
Because Latin American countries differ substantially from one another, there is no effective one-size-fits-all approach to anti-corruption compliance in the region. That said, companies doing business in the region should be aware of a number of recurring compliance concerns that may lead to an increased risk of violating the FCPA or other applicable anti-bribery laws, say attorneys with Debevoise & Plimpton LLP.
In many instances, the very businesses still facing time and budgetary constraints that hamper employee understanding of compliance must now add a new layer of comprehension in 2014. The stage is set for a banner enforcement year for regulatory bodies worldwide, says Veta Richardson, president and CEO of the Association of Corporate Counsel.
Recently, the Federal Deposit Insurance Corporation advised regulated financial institutions to be wary of “an increase in exclusionary terms or provisions” in insurance policies covering directors and officers liability. While this advice was directed to financial institutions regulated by the FDIC, much of it is good advice to follow for all corporations and their boards of directors, say Brian Scarbrough and Daniel Johnson of Jenner & Block.
Mandated law student pro bono programs have not worked in championing the causes of social justice for those unable to afford counsel. States would be far better off using their resources to insist on a legislative solution to a very troubling and persistent deficiency in the allocation of legal resources, says Fred Isquith of Wolf Haldenstein Adler Freeman & Herz LLP.
If industry executives did not suffer previously from heartburn when thinking about the Consumer Financial Protection Bureau’s complaint process, now is the time for them to reach for the antacids, says Brett Kitt, counsel with Greenberg Traurig LLP and former senior counsel at the CFPB.
At long last, the U.S. Supreme Court will address the fraud-on-the-market presumption of reliance established by the court in 1988. Securities litigators on both sides of the aisle are understandably anxious, because our entire industry is about to change — either a little or a lot. I say “change” because the ruling in Halliburton cannot and will not do away with securities litigation, says Douglas Greene of Lane Powell PC.
Picture this: A seller of goods is losing tens of millions of dollars per year on a requirements contract containing price caps that the parties have operated under for years. Given the Uniform Commercial Code and relevant case law, it would be natural — and completely logical — to accept the cogent authority establishing that rising costs are generally insufficient to invalidate a contract. I am betting that, in this case, the law will trick you, says Andrew Jarzyna of Ulmer & Berne LLP.
One of the False Claims Act reforms proposed by the U.S. Chamber of Commerce’s Institute for Legal Reform — a sanction for failure to carry out basic document-preservation obligations — should dramatically improve the government’s document-handling practices, and thus improve the odds that FCA defendants will have access to documents they may need to present their cases effectively, say David Ogden and Jonathan Cedarbaum of WilmerHale.