Saddled with costly legal woes since its troubled takeover of Countrywide Financial Corp. in 2008, Bank of America Corp. said Wednesday it will pay as much as $950 million to settle Financial Guaranty Insurance Co.'s claims over residential mortgage-backed securities that went bust during the financial crisis.
General Motors said Tuesday it will ask a bankruptcy judge to bar plaintiffs in litigation related to the automaker's ignition switch defect debacle from bringing their claims, saying the 2009 sale order that allowed it to exit bankruptcy protects it from such actions.
Apple Inc. can't dodge a bid by more than 30 state attorneys general to obtain enhanced damages on behalf of consumers for the technology giant’s alleged conspiracy with publishers to fix e-book prices, a New York federal judge ruled Tuesday, finding that the authorities have standing to pursue damages.
The D.C. Circuit on Tuesday upheld the Obama administration's landmark rule limiting mercury and other toxic emissions from coal- and oil-fired power plants, rejecting claims by industry and other groups that the rule would lead to skyrocketing electricity prices and devastate the coal industry.
Myriad Genetics Inc.'s fight to block the sales of Ambry Genetics Corp.'s cancer-testing products and defend a slew of its patents that were at the center of a high-profile U.S. Supreme Court ruling last year will have to wait its turn, the Federal Circuit ruled Monday.
President Barack Obama on Friday tapped White House Office of Management and Budget Director Sylvia Mathews Burwell to lead the U.S. Department of Health and Human Services, following the surprise resignation of outgoing HHS Secretary Kathleen Sebelius.
A New York federal judge on Thursday accepted SAC Capital Advisors LP's guilty plea to insider trading charges as part of a historic $1.2 billion settlement with U.S. authorities.
A New York federal judge recently pressed the U.S. Securities and Exchange Commission to explain its decision to settle an insider trading case against former SAC Capital Advisors LP analyst Ronald Dennis without requiring him to admit or deny wrongdoing.
Hewlett-Packard Co. on Wednesday said it has agreed to a $108 million settlement of criminal and civil actions that allege it violated the Foreign Corrupt Practices Act by bribing government officials in Russia, Poland and Mexico in order to secure lucrative public contracts.
The Sixth Circuit on Wednesday affirmed a decision nixing the U.S. Equal Employment Opportunity Commission's lawsuit alleging Kaplan Inc.'s use of credit checks in hiring disproportionately affected blacks, saying that an Ohio federal court had correctly excluded the agency's expert testimony.
Samsung Electronics Co. Ltd. siphoned $2.19 billion in profits and potential royalties from Apple Inc. by infringing five “ease of use” iPhone patents at a critical moment when many consumers were buying their first smartphones, Apple's damages expert told a California federal jury in the rivals' trial Tuesday.
U.S. banking regulators on Tuesday finalized a rule limiting the amount of debt the largest U.S. bank holding companies can take that is tougher than standards set by other global supervisors despite industry complaints, and proposed increasing the range of assets that would be included in that measure.
A Louisiana federal jury on Monday ordered Takeda Pharmaceutical Co. Ltd. and Eli Lilly & Co. to pay more than $9 billion in damages to a couple, in a bellwether trial over allegations the companies hid the cancer risks of diabetes drug Actos to keep sales high.
The U.S. Supreme Court on Monday agreed to tackle the question of whether class action defendants must provide additional evidence to support their bids to transfer cases from state to federal court, which stems from a multimillion-dollar dispute over oil and gas royalty payments in Kansas.
The U.S. Supreme Court on Monday declined to revive a putative class action by former General Motors Co. employees that claimed Metropolitan Life Insurance Co. improperly reduced their life insurance benefits after the automaker's 2009 bankruptcy.
The Federal Circuit on Friday affirmed a decision compelling the government to pay $60 million to Raytheon Co. for adjusted pension costs on four units the contractor sold.
Attorney General Eric H. Holder Jr. on Friday confirmed that the U.S. Department of Justice has opened a probe into high-frequency trading, becoming the latest regulator to announce an investigation of flash trading after the release of a blockbuster book that claims the practice has rigged the stock market.
The Fourth Circuit on Thursday overturned a federal jury's $920 million award to DuPont Co., which accused competitor Kolon Industries Inc. of stealing trade secrets related to Kevlar body armor that were passed on by a convicted former DuPont employee, while refusing to revive Kolon's antitrust suit.
Specialty retailer Brookstone Holdings Corp. and 11 affiliates filed for Chapter 11 protection Thursday in Delaware bankruptcy court, listing about $200 million in funded debt and planning a $146 million stalking horse sale to a unit of competitor Spencer Spirit Holdings Inc.
The European Union's antitrust watchdog on Wednesday hit 10 major cable makers and Goldman Sachs Group Inc. with a €302 million ($416 million) fine for orchestrating a global cartel in the high-voltage power cable industry.
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 director at The Focal Point LLC.
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 with Foley & Lardner LLP.
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.