Corporate

  • March 25, 2024

    Rivian's Brass Sued In Del. Over Vehicle Pricing Whiplash

    A shareholder of California-headquartered electric vehicle manufacturer Rivian Automotive Inc. has filed a derivative suit against the company's top brass in Delaware's Court of Chancery, alleging they made false and misleading statements concerning Rivian's financial model, including about production costs and pricing for its EV pickup truck and SUV.

  • March 25, 2024

    J&J Exec 'Shocked' Over Atty's Ties With Talc Plaintiffs

    Johnson & Johnson's vice president of litigation said on Monday he was "utterly shocked and appalled" upon learning an attorney who served as the company's outside counsel was working with its adversary Beasley Allen Law Firm and one of its attorneys in litigation over the alleged link between the company's talcum powder products and ovarian cancer.

  • March 25, 2024

    PacBio CEO's Words Haunt Patent Invalidity Arguments

    A California federal judge concluded Monday that statements made by the chief executive officer of biotech company Pacific Biosciences to investors at an earnings call undermined the company's invalidity arguments in a patent suit it's facing.

  • March 25, 2024

    SEC Says Justices Should Skip Musk's Gag-Order Grievance

    The U.S. Securities and Exchange Commission is asking the U.S. Supreme Court to pass on Elon Musk's complaint that an agency-imposed gag order violates his free speech rights, arguing the Tesla CEO entered the agreement willingly and has presented no legal justification for backing out.

  • March 25, 2024

    Solar Co. Downplayed Exposed Wire Issue, Investors Claim

    Energy company Shoals Technologies Group Inc. has been hit with a proposed class action alleging it downplayed the cost of repairing exposed wires for customers and that investors were blindsided when the company finally revealed it would need to spend at least $60 million to fix the issue.

  • March 25, 2024

    Texas Hotel REIT Says Blackwells Wants Illegal Proxy Contest

    A Texas hotel real estate investment trust asked a Texas federal court Sunday to stop a shareholder vote "from being infected with deception and misinformation," saying a New York-based hedge fund wants to run an illegal proxy contest to take control of the company's board of directors while hiding plans to buy it.

  • March 25, 2024

    Kroger Says Sweetened Merger Deal Will Sink Antitrust Doubts

    Kroger told a Colorado state judge Monday that it plans to "enhance" its $24.6 billion Albertson's merger to satisfy federal and state regulators, a plan it did not yet describe in detail and that Colorado said it has not seen.

  • March 25, 2024

    EV Maker Fisker Says It's Considering Restructuring

    Electric vehicle company Fisker told federal regulators it is considering restructuring after the collapse of partnership talks with a "large automaker" endangered its attempts to secure $150 million in new financing.

  • March 25, 2024

    Waiting For Car Security Checks Is Work, Calif. Justices Say

    Time spent by workers undergoing an employer's security check that includes an inspection of the worker's personal vehicle is compensable as hours worked, but time spent driving between the security gate and the parking lot is not, the California Supreme Court ruled Monday, answering a Ninth Circuit panel's queries.

  • March 25, 2024

    US Accuses 7 Chinese Nationals Of Hacking Conspiracy

    The Biden administration filed criminal charges and issued economic sanctions on Monday against Chinese nationals who allegedly attempted hack into the accounts of government officials and defense companies under the auspices of a cyberespionage program supposedly backed by China.

  • March 25, 2024

    Atty Can Drop Alleged Schemer Who Didn't Pay For 2 Years

    A man accused of being the mastermind behind a $2 million cannabis crowdfunding scheme must find a new lawyer after stiffing his previous counsel for nearly two years, a Michigan federal judge said Monday.

  • March 25, 2024

    Chiquita MDL Parties Urge Fla. Judge To Ax Trial Testimony

    Parties in the multidistrict litigation against Chiquita Brands urged a Florida federal judge Monday to exclude each other's witnesses ahead of the upcoming bellwether trials, saying they were not timely disclosed and have no direct knowledge of the claims in the case.

  • March 25, 2024

    Ripple's Legal Chief Says SEC Wants $2B In Remedies

    The CEO and legal head of blockchain firm Ripple Labs said Monday that the U.S. Securities and Exchange Commission plans to seek $2 billion in fines and penalties over the firm's failure to register institutional sales of its XRP token, but the firm plans to strike back at the high dollar amount.

  • March 25, 2024

    TreeHouse Shareholders Get New Chance To Sue Execs

    An Illinois appellate panel reversed a Cook County judge Friday and revived a derivative lawsuit demanding that TreeHouse Foods sue three individual executives the shareholders claim materially misled them by falsely stating that two newly acquired companies were being successfully integrated into the food company's operations.

  • March 25, 2024

    X Can't Boot Severance Suit To Arbitration, Ex-Worker Says

    A former employee told a Delaware federal court that X Corp. can't derail a suit alleging it owes $500 million for skimping on severance pay after Elon Musk took over and fired thousands of workers, saying X breached the pact it's trying to use to force arbitration.

  • March 25, 2024

    Qualcomm Halts Plan To Buy Israeli Biz Under Regulatory Heat

    The Federal Trade Commission is celebrating Qualcomm's decision to abandon its attempts at acquiring an Israeli company that makes chips that allow vehicle-to-vehicle communication after too much regulatory pushback.

  • March 25, 2024

    3rd Circ. Won't Rethink AbbVie Privilege Ruling

    The Third Circuit refused Monday to reconsider a ruling that found AbbVie was unable to show a lower court went against precedent or made errors when ordering the drugmaker to turn over attorney communications from a patent case allegedly meant to delay an AndroGel rival.

  • March 25, 2024

    DOJ Calls Probe Of Alleged SpaceX Hiring Bias Constitutional

    The U.S. Department of Justice has defended its investigation into allegations that SpaceX refused to hire asylum-seekers and refugees, telling a Texas federal judge that its authority stems from a constitutionally sound provision of federal immigration law barring workplace discrimination based on citizenship status.

  • March 25, 2024

    Steelers Owner Says Partner's Silence Is Stalling TD Air Sale

    The majority owner and president of the Pittsburgh Steelers — who is also a consultant at Buchanan Ingersoll & Rooney PC — wants a Pennsylvania state court to make a purportedly nonresponsive business partner sell his one-third share of a company that formerly owned and operated private jets.

  • March 25, 2024

    Catching Up With Delaware's Chancery Court

    Last week in Delaware's Court of Chancery, litigants battled as Truth Social went public, Carl Icahn and Tripadvisor hit a roadblock, and more shareholders wailed about "invasive" bylaws. Oil drilling and pharmaceutical mergers sparked new lawsuits, and a sewing machine trademark owner sued to end a contract.

  • March 25, 2024

    Ex-Root Exec Gets 51 Months In Prison For $10.2M Theft

    The former chief marketing officer for Columbus, Ohio-based car insurer Root Inc. has been sentenced to 51 months in prison followed by five years of supervised release for embezzling more than $10.2 million from his employer and spending it on plastic surgery, a yacht, a plane, and other personal expenses.

  • March 25, 2024

    Trump Gets Late Reprieve After Failing To Post $465M Bond

    A New York appellate panel said Monday that Donald Trump can pause enforcement of the state attorney general's $465 million civil fraud judgment by posting just $175 million while he appeals, after the former president complained that he was unable to secure a bond for the entire amount.

  • March 25, 2024

    Boeing CEO To Exit At Year's End Amid 737 Max Crisis

    The Boeing Co. announced Monday that President and CEO Dave Calhoun will exit the company at the end of the year, and the chair of its board will also step down, as the American aerospace giant overhauls its leadership ranks amid an enduring 737 Max crisis.

  • March 25, 2024

    FTX Clawbacks Unlikely To Help Bankman-Fried At Sentencing

    FTX founder Sam Bankman-Fried probably won't find much success in arguing for a shorter prison term based on the billions of dollars recovered by the shuttered crypto exchange's bankruptcy estate, experts told Law360 ahead of this week's much-anticipated sentencing hearing.

  • March 25, 2024

    Tech Giants Face 1st Probe Under EU Digital Markets Rules

    Alphabet, Apple and Meta are being investigated by the European Union over whether they comply with the Digital Markets Act, the first probes launched under regulations aimed at reining in the power of Big Tech, the bloc's executive arm said Monday.

Expert Analysis

  • Valeant Ruling May Pave Way For Patent-Based FCA Suits

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    The Ninth Circuit’s recent ruling in Silbersher v. Valeant marks a significant development in False Claims Act jurisprudence, opens new avenues for litigation and potentially raises the stakes for patent applicants who intend to do business with the government, say Joshua Robbins and Rick Taché at Buchalter.

  • The Corporate Transparency Act Isn't Dead Yet

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    After an Alabama federal court's ruling last week rendering the Corporate Transparency Act unconstitutional, changes to the law may ultimately be required, but ongoing compliance is still the best course of action for most, says George Singer at Holland & Hart.

  • How Advance Notice Bylaws Are Faring In Del. Courts

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    Recent decisions make it clear that the Delaware Chancery Court is carefully reviewing public companies' amended advance notice bylaws in order to balance the competing interests of boards and shareholders, and will likely strike down bylaws that improperly interfere with stockholder franchises, say attorneys at Olshan Frome.

  • How New EU Tax And Transfer Pricing Rules May Affect M&A

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    Companies involved in mergers and acquisitions may need to adjust fiscal due diligence procedures to ensure they consider potential far-reaching effects of newly implemented transfer pricing measures, such as newly implemented global minimum tax and European Union anti-tax avoidance directives and proposals, says Patrick Tijhuis at BDO.

  • New FinCEN Guide Provides Useful BOI Context For Banks

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    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.

  • Strategies For Single-Member Special Litigation Committees

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    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.

  • Opinion

    Suits Against Insulin Pricing Are Driven By Rebate Addiction

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    A growing wave of lawsuits filed by states, cities and counties against insulin manufacturers and pharmacy benefit managers improperly allocate the blame for rising insulin costs, when in actuality the plaintiffs are partially responsible, says Dan Leonard at Granite Capitol Consulting.

  • Lessons For D&O Policyholders From Pharma Co. Ruling

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    A California federal court's recent decision in AmTrust v. 180 Life Sciences, requiring insurers to advance defense costs for a potentially covered claim, provides a valuable road map for directors and officers insurance policyholders, rebutting the common presumption that a D&O insurer's duty to advance costs is more limited than under other policies, say attorneys at Pasich.

  • How Firms Can Ensure Associate Gender Parity Lasts

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    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.

  • Bracing Cos. For Calif. Privacy Agency's Restored Authority

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    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.

  • How Cos. Can Assess Open-Source Contribution Patent Risks

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    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.

  • 7 Common Myths About Lateral Partner Moves

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    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.

  • How Broker-Dealers Can Prepare For New Remote Work Rules

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    Securities regulators recently expanded broker-dealers' ability to permit flexible remote working arrangements through the introduction of residential supervisory locations, a welcome change that better allows broker-dealers to attract and retain talent, say attorneys at King & Spalding.

  • 5 Tips For Policyholders Arbitrating R&W Insurance Claims

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    With more representations and warranties insurance disputes being arbitrated, policyholder counsel should note issues that are unique to RWI claims, including those of privilege, priority and preserving subrogation, says Micah Skidmore at Haynes Boone. 

  • Series

    Cheering In The NFL Makes Me A Better Lawyer

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    Balancing my time between a BigLaw career and my role as an NFL cheerleader has taught me that pursuing your passions outside of work is not a distraction, but rather an opportunity to harness important skills that can positively affect how you approach work and view success in your career, says Rachel Schuster at Sheppard Mullin.

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