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Corporate
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May 17, 2024
Employment Authority: Workers Take Aim At Pregnancy Bias
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on the substantial stack of charges the U.S. Equal Employment Opportunity Commission fielded last year brought under a new law that grants accommodations to pregnant employees, the Biden administration's rush to wrap up rulemaking to dodge potential Republican opposition, and why experts think United Auto Workers' upcoming union talks with Volkswagen present unique challenges.
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May 17, 2024
New Domestic Content Guidance May Boost Energy Credits
The U.S. Treasury Department's new guidance on bonus tax credits for clean energy projects that source domestic-made materials and components aims to simplify the process for determining eligibility and spur more development to get those extra incentives.
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May 17, 2024
DOL Fails To Win Order Barring Retaliation On Pork Workers
A Tennessee federal judge rebuffed a request from the U.S. Department of Labor to bar a pork producer from retaliating against workers providing information about wages, ruling that the department had failed to show that any retaliation had occurred.
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May 17, 2024
Judge Won't Bar Thermo Fisher Exec's Jump To Repligen
A Massachusetts judge won't block a former Thermo Fisher Scientific executive from jumping to smaller rival Repligen, calling a noncompete agreement signed by the employee overbroad and suggesting that it was really aimed at stifling competition in a ruling released Friday.
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May 17, 2024
Cantor, Lutnick Strike Deal With Window SPAC Investors
Shareholders of a special purpose acquisition company that took a now-bankrupt smart window manufacturer public have reached a tentative agreement to settle their proposed Delaware Chancery Court class action against Cantor Fitzgerald LP and its billionaire chair and CEO Howard Lutnick.
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May 17, 2024
Chancery Rulings Stir Up Del. Corporate Bar Push-Back
Intrigue surrounding closed-door talks on amendments to Delaware's General Corporation Law picked up in recent days, bringing greater scrutiny to an often sedate effort stirred up this year by a draft proposal seen as potentially removing some corporate policing powers traditionally given to the state's courts.
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May 17, 2024
Industry Emboldened After Justices Galvanize Agency Attacks
In the year since the U.S. Supreme Court said "extraordinary" and "far-reaching" attacks on administrative enforcers can skip agency tribunals and go straight to federal district court, ambitious challenges to regulatory powers are rapidly gaining traction, and the high court is poised to put them on an even firmer footing.
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May 17, 2024
Calif. Jury Finds Samsung Breached Contract With Netlist
A Los Angeles federal jury found on Friday that Samsung materially breached a contract with chipmaker Netlist by cutting off its supply of crucial memory products, delivering a significant win for Netlist in its multi-jurisdictional patent fight with Samsung even though no monetary damages were at stake.
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May 17, 2024
Nestle Assistant GC Joins Mayer Brown's IP Practice In LA
Mayer Brown LLP has hired Nestle's U.S. head of brand intellectual property as counsel for its global IP practice in Los Angeles.
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May 17, 2024
McDermott Adds Dechert Blockchain Ace In Calif. Offices
McDermott Will & Emery LLP is growing its transactions team, announcing Friday it is bringing in a Dechert LLP blockchain and digital assets expert as a partner in its Orange County and Silicon Valley offices.
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May 17, 2024
GC Cheat Sheet: The Hottest Corporate News Of The Week
The SEC adopted cybersecurity rules to require investment advisers and broker-dealers to put procedures in place for detecting data breaches and for notifying customers when their personal information may have been compromised, and lawyers said SPACs won't get sought-after relief from a new 1% tax on stock buybacks under a recent Treasury Department proposal. These are among the stories in corporate legal news you may have missed in the past week.
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May 17, 2024
TD Bank Says Ex-Advisers Enticed $25M To Raymond James
TD Bank NA and its subsidiary TD Private Client Wealth LLC are accusing two former employees of "brazenly" breaking nonsolicitation agreements by moving to Raymond James Financial Services Inc. and enticing $25 million in client assets to come with them.
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May 17, 2024
Trump's Potential Witness Could Be Defense 'Dynamite'
As Donald Trump's hush money trial in Manhattan nears its end, experts say criminal defense attorney Robert Costello, who once advised the former president's ex-fixer and key prosecution witness Michael Cohen, has surfaced as a potentially bombshell witness for the defense.
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May 17, 2024
Ex-Alpine Summit Energy CLO Joins Holland & Knight
Holland & Knight LLP has added Alpine Summit Energy Partners Inc.'s former chief legal officer as a partner to bolster its corporate practice group.
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May 17, 2024
Glass Lewis, ISS Split On Chevron-Hess Deal Guidance
Hess Corp. shareholders got mixed advice from the two leading proxy advisory firms on whether to vote in favor of a $53 billion takeover by Chevron Corp., further muddling the oil and gas giants' path to closing the mega-deal amid an ongoing dispute with Exxon Mobil Corp.
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May 16, 2024
Buckle Up: CFPB's High Court Win Will Thaw Frozen Docket
The Consumer Financial Protection Bureau is walking away from the U.S. Supreme Court with its funding and rulebook intact, a victory that caps off years of constitutional wrangling over how the agency was set up and will usher in a wave of activity that has financial services attorneys bracing for impact.
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May 16, 2024
Voice Actors Say Lovo Stole Their Voices For AI Tech
Artificial intelligence startup Lovo has been stealing actors' voices for its AI-driven voice-over software, voice actors Paul Lehrman and Linnea Sage alleged in a proposed class action Thursday after they unexpectedly heard Lehrman's voice used in a podcast about the potential dangers of AI technology.
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May 16, 2024
$2B Default Recommended For Making Fair Trial 'Impossible'
Years of lies should put a pair of Chinese electronics companies on the hook for over $2 billion in default judgment, a special master told a California federal judge, adding that their yearslong no-show and disregard of U.S. counsel advice to retain documents have rendered a fair trial "impossible."
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May 16, 2024
Klobuchar Reintroduces Sweeping Antitrust Reform Bill
Sen. Amy Klobuchar, D-Minn., reintroduced sweeping legislation Thursday aimed at restoring competition by strengthening antitrust laws to help enforcers better deal with harmful conduct and mergers, garnering support from the American Antitrust Institute, Consumer Reports and others.
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May 16, 2024
Convicted Insurance Mogul Says He'll Trim Empire
Convicted insurance mogul Greg Lindberg told the North Carolina Supreme Court he's relinquishing control of portions of his enterprise to fulfill a deal to restructure them with independent oversight, according to court filings.
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May 16, 2024
Thomas, Alito: Two Originalists, Two Takes On CFPB Case
U.S. Supreme Court Justices Clarence Thomas and Samuel Alito — often birds of a feather — butted heads Thursday over the original meaning and purpose of the U.S. Constitution's appropriations clause in a decision upholding the Consumer Financial Protection Bureau's unique funding scheme, highlighting what experts describe as the pair's different approaches to originalism.
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May 16, 2024
3rd Circ. Shuns Teva's 'Novel' Appeal On Israeli Investor Class
The Third Circuit on Thursday turned away an appeal brought by Teva Pharmaceutical Industries Ltd., saying the class certification stage was not the right time to hear arguments over the "novel" question of the applicability of U.S. securities laws to Israeli-listed shares.
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May 16, 2024
'That Is A Lie!' Trump Atty Assails Cohen In Fraud Trial Cross
Donald Trump's lawyer lashed out at central prosecution witness Michael Cohen on Thursday during a second day of cross-examination in New York state's criminal fraud case, attacking his credibility and key testimony linking Trump to crimes.
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May 16, 2024
Judge Irked By 'Smart' Attys And 'Silly' Doc Retention Policies
The chief judge of the U.S. Court of International Trade scolded Chinese tire companies on Thursday for complaining about having to provide information the federal government requested to reassess antidumping duties after the companies won an order for that reassessment.
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May 16, 2024
Disney Strikes Deal To Exit Hispanic Worker's Bias Suit
A Disney subsidiary reached an agreement Thursday with a former Walt Disney World worker to end her lawsuit alleging the company unlawfully fired her after a co-worker overheard her tell a story about disciplining her son for using the N-word, a filing in Florida federal court said.
Expert Analysis
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How Cos. Can Assess Open-Source Contribution Patent Risks
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.
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7 Common Myths About Lateral Partner Moves
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.
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How Broker-Dealers Can Prepare For New Remote Work Rules
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.
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5 Tips For Policyholders Arbitrating R&W Insurance Claims
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.
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Series
Cheering In The NFL Makes Me A Better Lawyer
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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Considerations For Disclosing AI Use In SEC Filings
Recent remarks from U.S. Securities and Exchange Commission Chair Gary Gensler should be heard as a clarion call for public companies to disclose artificial intelligence use, with four takeaways on what companies should disclose, says Richard Hong at Morrison Cohen.
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Args In APA Case Amplify Justices' Focus On Agency Power
In arguments last week in Corner Post v. Federal Reserve, the U.S. Supreme Court justices paid particular importance to the possible ripple effects of their decision, which will address when a facial challenge to long-standing federal rules under the Administrative Procedure Act first accrues and could thus unleash a flood of new lawsuits, say attorneys at Snell & Wilmer.
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Averting Patent And Other IP Risks In Generative AI Use
While leveraging generative AI presents potential problems such as loss of ownership of patents and other intellectual properties, a series of practice tips, including ensuring that the technology is used as a supplementary tool and is not contributing to invention conception, can help mitigate those concerns, say Mackenzie Martin and Bryce Bailey at Baker McKenzie.
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Mitigating Whistleblower Risks After High Court UBS Ruling
While it is always good practice for companies to periodically review whistleblower trainings, policies and procedures, the U.S. Supreme Court’s recent whistleblower-friendly ruling in Murray v. UBS Securities helps demonstrate their importance in reducing litigation risk, say attorneys at Arnold & Porter.
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Series
ESG Around The World: Gulf Cooperation Council
The Gulf Cooperation Council is in the early stages of ESG policy implementation, but recent commitments by both states and corporations — including increases in sustainable finance transactions, environmental commitments, female representation on boards and human rights enforcement — show continuing progress toward broader ESG goals, say attorneys at Cleary.
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Steps For Companies New To Sanctions Compliance
Businesses newly required to implement compliance programs due to the increased breadth of mandatory sanctions and export controls, including 500 additional Russia sanctions announced last Friday, should closely follow the guidance issued by the Office of Foreign Assets Control and other regulators, say Jennifer Schubert and Megan Church at MoloLamken.
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A Cautionary Tale On Hospital-Physician Alignment Structures
A $345 million settlement between the U.S. Department of Justice and Community Health Network highlights how quickly hospital and physician alignment relationships can violate legal restrictions on such dealings, and the onerous financial penalties that can ensue, say Robert Threlkeld and Elliott Coward at Morris Manning.
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Using Arbitration And Class Waivers As Privacy Suit Tools
Amid a surge in data breach class actions over the last few years, several federal court decisions indicate that arbitration clauses and class action waiver provisions can be possible alternatives to public court battles and potentially reduce the costs of privacy litigation, say Mark Olthoff and Courtney Klaus at Polsinelli.
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6 Pointers For Attys To Build Trust, Credibility On Social Media
In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.
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Cos. Must Know How NY, Federal LLC Disclosure Laws Differ
Though New York state's new LLC Transparency Act and the federal Corporate Transparency Act impose similar beneficial owner reporting obligations on limited liability companies, New York LLCs should study the important differences between the laws to ensure they are prepared to comply with both, say Abram Ellis, Olenka Burghardt and Jane Jho at Simpson Thacher.