Just days before his scheduled administrative court hearing, a former Wells Fargo analyst has agreed in principle to settle the U.S. Securities and Exchange Commission’s charges he engaged in insider trading by giving one of the firm’s traders early access to his research, according to documents filed Friday.
A California jury cleared Kleiner Perkins Caufield & Byers LLC on Friday of discriminating against interim Reddit CEO Ellen Pao in her $100 million gender bias case, and found that the venture capital firm didn’t fire her because she sued over the allegations.
Direct Access Partners LLC's former CEO Benito Chinea and former managing director Joseph Demeneses got four years in prison each on Friday for a $60 million Venezuelan bank bribery scheme — sentences said to be the longest yet for Foreign Corrupt Practices Act violations in the Second Circuit.
The U.S. Patent and Trademark Office is increasing the page limits for some filings in America Invents Act reviews, effective immediately, in the first of a series of rule changes that will be rolled out in the coming months, the office said Friday.
A group of state attorneys general on Thursday won their bid to block the U.S. Department of Labor from enacting a new rule under the Family and Medical Leave Act that would extend protections to same-sex couples when a Texas federal judge granted a preliminary injunction.
The Consumer Financial Protection Bureau on Thursday fired the opening shot in a long battle over new regulations for payday loans that the bureau says will eliminate so-called debt traps and will likely reshape the market for short-term credit offered by a host of financial institutions.
Bankrupt Texas power giant Energy Futures Holdings Corp. is not liable for a penalty of two-thirds of a billion dollars for early repayment of $4 billion in senior bonds, a judge ruled Thursday.
A group of 22 companies and individuals on Thursday agreed to pay nearly $5 million in disgorgement and $1 million in penalties to settle the U.S. Securities and Exchange Commission’s allegations that they regularly bought and sold securities on behalf of a suburban Chicago-based trading firm without registering with the agency.
LightSquared Inc. secured a judge’s approval Thursday for a bankruptcy reorganization that lets the wireless startup repay its debts, try to revive a failed nationwide network and retain an ownership stake for Philip Falcone’s hedge fund after three years of intense confrontations with creditors.
The U.S. House of Representatives on Thursday passed a bill intended to put in place a permanent “doc fix” to replace Medicare’s unpopular physician reimbursement system, commonly overridden by lawmakers each year.
The Consumer Financial Protection Bureau announced Thursday that it's considering rules that would end payday debt traps by cutting down on excessive fees and requiring lenders to ensure borrowers can repay their loans.
The U.S. Supreme Court's decision Wednesday breathing new life into a pregnancy bias suit against United Parcel Service Inc. won plaudits from worker advocates including the U.S. Equal Opportunity Commission, even though the ruling was critical of recent EEOC pregnancy discrimination guidance that will now have to be changed.
A Delaware federal jury on Wednesday found that Motorola Mobility LLC had infringed one patent owned by Intellectual Ventures LLC but not another, wrapping up a second trial between the long-time foes over Motorola's smartphones.
A Texas-based Schlumberger Ltd. unit has agreed to plead guilty and pay a $232.7 million fine for violating U.S. sanctions in Iran and Sudan, the U.S. Department of Justice announced Wednesday.
In a unanimous vote Wednesday, the U.S. Securities and Exchange Commission approved one of the final mandates of the 2012 Jumpstart Our Business Startups Act, providing new registration exemptions for small businesses and startups to raise up to $50 million in new capital over a 12-month period.
The U.S. Securities Exchange Commission on Wednesday voted unanimously to propose rules that would require high-frequency proprietary traders to register with a national securities association, a move intended to improve oversight of broker-dealers engaged in off-exchange trading.
Tobacco giants Philip Morris USA Inc. and R.J. Reynolds Tobacco Co. were hit Wednesday with a combined $3 million punitive damages verdict in Florida in favor of a widow whose husband allegedly died of smoking-related lung cancer.
HJ Heinz Co. and Kraft Foods Group Inc. revealed Wednesday that they have agreed to merge, in a move expected to create the third-largest food and beverage company in North America and the fifth-largest in the entire world.
RadioShack Corp. lender Salus Capital Partners LLC on Wednesday urged the judge handling the retailer’s bankruptcy auction to block lawyers from accepting fellow creditor Standard General LP's $128 million offer and rejecting a “materially superior” liquidation bid from Salus.
The U.S. Supreme Court overturned a Fourth Circuit decision Wednesday that nixed a pregnancy bias case against United Parcel Service Inc., reviving a lawsuit brought by a UPS employee who was denied light duty work while pregnant.
These days, jurors and judges are so accustomed to seeing graphics — on the street, on the Web, on their smartphones — that they expect to see something good in the courtroom. The best graphics are composed of consequential information, clearly displayed, with emphasis on what matters most, paired with artwork that adds meaning. This simultaneously compels people to think, feel and make decisions, says Aaron Stienstra, design direc... (continued)
United Technologies Corporation's global settlement with the U.S. Departments of State and Justice underscores the importance of a robust compliance program to prevent, detect and remediate any violations of export control laws or regulations — especially if products and services are destined for China, say Jeffrey Gerrish and Soo-Mi Rhee of Skadden Arps Slate Meagher & Flom LLP.
Following the U.S. Supreme Court's treatment of the machine-or-transformation test in Mayo Collaborative Services Inc. v. Prometheus Laboratories Inc., the test — previously thought to be the governing test for patent eligibility under § 101 — no longer appears to occupy such a prominent role in patent-eligibility jurisprudence, says William Merkel of Marshall Gerstein & Borun LLP.
“This is an easy case,” Justice Antonin Scalia wrote in his opinion in Radlax Gateway Hotel LLC v. Amalgamated Bank, settling the issue of whether the Bankruptcy Code grants the secured creditor a right to credit bid in an auction sale under a plan. But interestingly, the opinion barely mentions the infamous Philadelphia News decision from the Third Circuit which was effectively overruled by the U.S. Supreme Court, say attorneys wi... (continued)
While the New York state Senate did not act on the Foreclosure Fraud Prevention Act of 2012 before adjourning its regular session — and as a result there is little chance the bill will be enacted this year — the bill represents the latest attempt by state governments to impose criminal liability on fraudulent foreclosure practices by mortgage servicers or their employees, say attorneys with Dechert LLP.
In United States v. Aleynikov, the Second Circuit recently created an unfortunate cloud over the scope of the federal trade secret statute. The decision detracts from the primary legislative objectives to promote and protect national economic security and punish individuals who misappropriate intellectual property in the form of trade secrets, say Mark Krotoski and Richard Scott of the U.S. Department of Justice.
Although the Patient Protection and Affordable Care Act and its coverage mandates have been upheld, the lack of regulatory guidance for many key areas of the statute creates uncertainty regarding implementation and enforcement. No matter how employers and plan fiduciaries approach the various coverage mandates, it is clear that the future is not without risk of litigation, say attorneys with Proskauer Rose LLP.
The Northern District of California's opinion in Oracle America Inc. v. Google Inc. is suprising given that there was direct copying and that the threshold of originality required for a work to qualify as copyrightable has traditionally been so low that the application programming interfaces almost certainly qualified as sufficiently original to be protected by copyright, says David Makman of the Law Offices of David A. Makman.
The Committee on Foreign Investment in the United States recently blocked yet another acquisition involving Chinese investors. Any foreign companies looking to invest in the U.S. should be wary of the scrutiny they may confront, and determine whether CFIUS review is likely, say George Wang and Yelena Kotlarsky of Haynes and Boone LLP.
ING Bank NV's $619 million fine to settle criminal charges is the largest ever against a financial institution in connection with an investigation into U.S. sanctions violations and related offenses. The enforcement action is also notable in several other respects, say attorneys with Steptoe & Johnson LLP.