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Corporate
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April 22, 2024
4 Biggest Takeaways From New EPA 'Forever Chemicals' Rule
The U.S. Environmental Protection Agency's new rule listing two "forever chemicals" as hazardous substances under the Superfund law will introduce costly new cleanup requirements at polluted sites — that is, if the rule survives probable legal challenges targeting its novel legal foundation and the accuracy of asserted health risks.
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April 22, 2024
Kansas Gov. Signs Earned Wage Access License Bill Into Law
Kansas has become the fourth state to approve new laws governing so-called earned wage access products, joining Nevada, Missouri and Wisconsin in regulating services for workers seeking cash advances.
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April 22, 2024
Social Media MDL Attys Ordered To Sort Out Confidentiality
A California federal judge presiding over discovery in multidistrict litigation over whether social media platforms' design is addictive warned parties at a hearing Monday not to ask him to resolve disputes over confidentiality designations, asking repeatedly, "Why do they matter?" and saying, "These are the kinds of things that lawyers should work out."
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April 22, 2024
Exec In Insider Trading Case Says Feds Denied Him Counsel
The former CEO at the center of a novel insider trading case is asking that the California jury deciding his fate not be allowed to hear evidence obtained during a pre-indictment interrogation, arguing he was denied access to an attorney despite insisting on speaking to counsel at least a dozen times.
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April 22, 2024
$1 Awarded To Software Co. Splunk In Copyright Fight
A California federal jury on Monday awarded software company Splunk a single dollar in damages in a suit accusing rival Cribl of copyright infringement.
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April 22, 2024
Kroger, Albertsons Expand Divestiture Plan
Supermarket giants Kroger and Albertsons are willing to let go of an extra 166 stores in the hopes of swaying federal and state regulators to drop their opposition to the $25 billion grocer union, they said Monday.
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April 22, 2024
Amazon Illegally Gathered Workers' Face Scans, Suit Says
Amazon.com Services faces a proposed class action filed Monday in Illinois federal court accusing the retail giant of gathering employees' facial geometry scans and sharing them with various third parties without first receiving the employees' written consent in violation of the Illinois Biometric Privacy Act.
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April 22, 2024
Court Tosses Shipbuilders No-Poach Case As Untimely
A Virginia federal court found that a pair of warship designers haven't shown that major shipbuilders for the U.S. military, including General Dynamics and Huntington Ingalls Industries, concealed a "gentlemen's agreement" to not poach workers from one another.
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April 22, 2024
Chamber Planning Prompt Challenge Of FTC Noncompete Ban
U.S. Chamber of Commerce officials vowed Monday to immediately challenge an impending Federal Trade Commission rule that would ban essentially all noncompete agreements that employers impose on their workers, raising concerns focused principally on opening a "Pandora's box" of rulemaking they say is beyond FTC authority.
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April 22, 2024
Congress Can Enact Corp. Transparency, Orgs Tell 11th Circ.
Congress is empowered to require American companies to report their beneficial owners to the federal government because there is ample evidence they've previously been used to fund hostile foreign actors, evade sanctions and traffic drugs, two think tanks told the Eleventh Circuit in an amici brief.
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April 22, 2024
Opioid Marketer Completes $1.5M Damages Settlement With Del.
Delaware's chancellor signed off Monday on a $1.5 million payment to the state by a company that helped Purdue Pharmaceuticals market its opioid products, the latest step in a $358 million, 50-state damages settlement reached with Publicis Health LLC.
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April 22, 2024
Agiliti Faces Another Chancery Suit Over $2.5B Squeeze-Out
A shareholder of Agiliti sued the medical equipment management company Monday in Delaware's Chancery Court for more details surrounding events leading up to an impending $2.5 billion squeeze-out merger with an affiliate of Thomas H. Lee Partners, its largest and controlling stockholder, echoing a similar lawsuit filed in late March.
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April 22, 2024
GM, Others Sued For Sharing Driver Data With Insurers
Two New Jersey drivers say they saw increases in their insurance premiums after General Motors and its OnStar unit allegedly used apps installed in their vehicles to illegally share driver data with consumer reporting agencies and insurance carriers without their consent.
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April 22, 2024
As DA Aims High, Trump Defense Gets 'Down And Dirty'
Donald Trump lifted the curtain Monday on his strategy to win over jurors in his New York criminal hush-money trial, as a lawyer for the former president hammered the state's "liar" star witness and rejected the prosecution's quixotic framing of the case, experts observed.
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April 22, 2024
Calif. High Court Says Pretrial Inmates Can't Get Min. Wage
The California Supreme Court on Monday ruled that pretrial detainees who work while in jail are not entitled to minimum wage and overtime claims under California's labor law, finding the state's penal code permitting such work covers nonconvicted individuals.
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April 22, 2024
FTC Moves To Block $8.5B Designer Fashion Deal
The Federal Trade Commission moved on Monday to block a planned $8.5 billion deal for the parent company of Coach and Kate Spade to purchase the owner of designer brands Michael Kors and Jimmy Choo.
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April 22, 2024
Ill. Panel Relieves Insurer Of $8.3M Cracker Caper Judgment
An insurer was relieved of covering a dispute between cracker manufacturers, an Illinois state appeals panel affirmed, finding allegations of equipment theft that led to an $8.3 million judgment against Distinctive Foods LLC constituted non-covered intentional interference with RyKrisp LLC.
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April 22, 2024
Steptoe & Johnson Adds Securities Duo In Oklahoma
Steptoe & Johnson PLLC has announced the hiring of two experienced securities attorneys from regional firm Conner & Winters LLP to its corporate and mergers and acquisitions practice in its Oklahoma City office.
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April 22, 2024
What We've Learned From Biden-Era Merger Remedies
Amid the Biden administration's uniquely aggressive merger regime, companies making deals face much higher hurdles convincing competition enforcers to accept divestitures, licensing deals or other remedies designed to address antitrust concerns. However, officials have provided a few clues about what settlements they'll accept and when.
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April 22, 2024
Vista Outdoors Nudges MNC Capital To Bolster $3B Bid
Vista Outdoor Inc. on Monday urged investment firm MNC Capital to increase its prior $3 billion buyout offer, as Vista weighs MNC's proposals against an already inked merger agreement to sell its ammunition brands off to Czechoslovak Group.
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April 22, 2024
Google Faces Sanctions Bid Over Alleged Data Destruction
A putative class of Google account holders urged a California magistrate judge to sanction and hold Google in contempt for purportedly intentionally destroying key evidence in their suit, which claims Google's ad auction practices violate privacy rights, arguing Google has a pattern of the alleged misconduct in the district.
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April 22, 2024
Catching Up With Delaware's Chancery Court
Last week, Delaware's Chancery Court news included a Tesla announcement about moving to Texas, a midcase appeal of Tripadvisor's move to Nevada, and United Airlines' escape from a stockholder suit. Disputes about board entrenchment, squeeze-out mergers, co-founder fallouts and deadly ice cream moved ahead.
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April 22, 2024
SEC Says Terraform, Founder Owe $5.3B After Fraud Verdict
The U.S. Securities and Exchange Commission has asked a Manhattan federal judge to order bankrupt cryptocurrency exchange Terraform Labs and its founder to pay roughly $5.3 billion, weeks after a jury found them liable for a massive fraud.
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April 22, 2024
Trump, NY AG Reach Deal To OK $175M Fraud Appeal Bond
Donald Trump's lawyers agreed Monday to bond conditions requiring the former president to give up control of his $175 million cash deposit pending appeal of a $465 million civil fraud judgment, staving off scrutiny from both the New York attorney general and the judge who entered the award.
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April 22, 2024
Thermo Fisher Says Rival Is Raiding Its Workforce
Thermo Fisher Scientific Inc. is seeking to block Repligen Corp. from hiring one of its top executives, according to a suit in Massachusetts state court accusing the rival of a "systematic raiding" of its workforce.
Expert Analysis
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A Closer Look At Antitrust Agencies' Chat Platforms Guidance
Following the U.S. antitrust agencies' clarification that companies' preservation obligations extend through applications that automatically delete communications, firms should look at new compliance measures, including keeping control over retention settings, say John Ingrassia and Tim Burroughs at Proskauer.
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ESG Challenges In Focus After Sierra Club Opposes SEC Rule
The Sierra Club's recent objection to the U.S. Securities and Exchange Commission's climate-related disclosures for investors presents an unusual — pro-disclosure — legal challenge and an opportunity to take a close look at the varying critiques of ESG regulations, say Colin Pohlman, and Jane Luxton and Paul Kisslinger at Lewis Brisbois.
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A Snapshot Of The Evolving Restrictive Covenant Landscape
Rachael Martinez and Brooke Bahlinger at Foley highlight recent trends in the hotly contested regulation and enforcement of noncompetition and related nonsolicitation covenants, and provide guidance on drafting such provisions within the context of stand-alone employment agreements and merger or acquisition transactions.
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Opinion
High Court Should Settle Circuit Split On Risk Disclosures
The U.S. Supreme Court should grant the petition for writ of certiorari in the Facebook case to resolve a growing circuit split concerning when risk disclosures can be misleading under federal securities laws, and its decision should align with the intent of Congress and the U.S. Securities and Exchange Commission, says Richard Zelichov at DLA Piper.
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Opinion
Why Supreme Court Should Allow Repatriation Tax To Stand
If the U.S. Supreme Court doesn't reject the taxpayers' misguided claims in Moore v. U.S. that the mandatory repatriation tax is unconstitutional, it could wreak havoc on our system of taxation and result in a catastrophic loss of revenue for the government, say Christina Mason and Theresa Balducci at Herrick Feinstein.
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For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill
A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.
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UK Amazon Ruling Spotlights TM Rights In International Sales
Highlighting the conflict between the territorial nature of trademark rights and the borderless nature of the internet, the U.K. Supreme Court's recent decision — that Amazon's U.S. website could infringe EU and U.K. rights by targeting local buyers — offers guidance on navigating trademark rights in relation to online sales, say Emmy Hunt, Mark Kramer and Jordan Mitchell at Potter Clarkson.
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The Multifaceted State AG Response To New Technologies
In response to the growth of technologies like artificial intelligence, biometric data collection and cryptocurrencies across consumer-facing industries, state attorneys general are proactively launching enforcement and regulatory initiatives — including bipartisan investigations and new state AI legislation, say Ketan Bhirud and Emily Yu at Cozen O'Connor.
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Private Capital Considerations Amid Market Revival
As improved market conditions position traditional financing to regain lost market share, it's also worth considering the pace and structure of private credit and other forms of private capital, especially when seeking to set unique terms or build new corporate relationships, say attorneys at Skadden.
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What NAR Settlement Means For Agent Commission Rates
If approved, a joint settlement agreement between the National Association of Realtors and a class of home sellers will likely take the onus off home sellers to compensate buyers' agents, affecting considerations for all parties to real estate transactions, say attorneys at Jones Foster.
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Opinion
$175M Bond Refiled By Trump Is Still Substantively Flawed
The corrected $175 million bond posted by former President Donald Trump on Thursday to stave off enforcement of the New York attorney general's fraud judgment against him remains substantively and procedurally flawed, as well as inadequately secured, says Adam Pollock of Pollock Cohen.
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Opinion
Requiring Leave To File Amicus Briefs Is A Bad Idea
A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.
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2 Recent Suits Show Resiliency Of Medicare Drug Price Law
Though pharmaceutical companies continue to file lawsuits challenging the Inflation Reduction Act, which enables the federal government to negotiate for lower prescription drug prices, recent decisions suggest that the reduced drug prices are likely here to stay, says Jose Vela Jr. at Clark Hill.
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4 Ways To Motivate Junior Attorneys To Bring Their Best
As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.
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A Look At Recent Challenges To SEC's Settlement 'Gag Rule'
Though they have been unsuccessful so far, opponents of the U.S. Securities and Exchange Commission's so-called gag rule, which prevents defendants from denying allegations when settling with the SEC, are becoming increasingly vocal and filing more challenges in recent years, say Mike Blankenship and Regina Maze at Winston & Strawn.