U.S. Attorney General nominee Loretta Lynch on Wednesday sought to set herself apart from contentious current Attorney General Eric Holder, as senators pressed her over her stance on immigration, financial, trade secret and cybersecurity issues, as well as a recent Internal Revenue Service scandal.
The Federal Deposit Insurance Corp. on Wednesday took steps to encourage banks to keep doing business with risky corporate clients to ease concerns over the Justice Department’s “Operation Choke Point,” but other regulators will have to enact similar policies to ease fears, industry representatives said.
A Manhattan federal judge on Tuesday threw out an investor class action and a related securities fraud damages suit against Sanofi over a 2013 setback in its effort alongside recently acquired Genzyme Corp. to win approval for their Lemtrada multiple sclerosis drug, finding rosy statements predicting on-time approval were genuinely believed when they were made.
A federal judge in New York on Wednesday denied a motion to dismiss a U.S.-based class action alleging that Bank of America Corp., Barclays PLC and other banks rigged foreign exchange markets.
New York-based Shake Shack Inc. plans to serve up a larger initial public offering, boosting its per-share price on Wednesday to land as much as $95 million amid investor hunger for the growing fast-casual, ingredient-conscious hot dog and burger chain.
Standard & Poor’s Ratings Services has agreed to pay $1.375 billion to settle lawsuits brought by the U.S. Department of Justice and 20 attorneys general around the country over the firm’s ratings work leading up to the financial crisis, a person familiar with the matter on Wednesday told Law360.
The tie-up of America’s second and third largest tobacco companies is one step closer as shareholders of both companies approved Camel cigarettes maker Reynolds American Inc.’s proposed $27.4 billion takeover of rival Lorillard Inc., maker of Newport cigarettes, the companies said Wednesday in separate statements.
Nissan Motor Co. is recalling nearly 640,000 sport utility vehicles after safety regulators discovered that water seepage in certain Nissan Rogues may cause electrical fires, and faulty latches in some of the automaker’s Infinitis and Pathfinders could make their hoods fly up unexpectedly.
A Delaware bankruptcy judge ruled Wednesday that the Chapter 11 of Caesars Entertainment Corp.'s operating arm will play out in Chicago, rejecting a move by creditors seeking to hold the high-stakes proceedings in the First State.
The U.S. Patent and Trademark Office released a list of examples Tuesday applying the U.S. Supreme Court's Alice decision to hypothetical patents, which attorneys say illustrates some of the computer-related inventions that can survive challenges under the ruling restricting the eligibility of patents involving abstract ideas.
A Texas judge has denied former Texas Gov. Rick Perry’s bid to shut down a criminal abuse-of-office suit against him, saying it’s “crystal clear” that it cannot end the suit at this early point.
Yahoo Inc. said Tuesday it will spin off its remaining 15 percent stake, worth about $40 billion, in Alibaba Group Holding Ltd., potentially avoiding a proxy battle with Starboard Value LP after the tech company made $9.4 billion in the Chinese e-commerce giant’s record initial public offering last year.
Pfizer Inc. has reached a $400 million settlement to avoid an upcoming trial in a class action claiming the company misled investors about an alleged off-label drug marketing scheme, the pharmaceutical giant said Tuesday in a regulatory filing.
The 2017-2022 offshore oil and gas leasing program unveiled by the Obama administration on Tuesday would open up parts of the Atlantic Ocean to drilling, fulfilling a wish of the oil industry while angering environmentalists and some coastal lawmakers.
Swiss telecom Sunrise Communications AG, backed by private equity firm CVC Capital Partners, said Tuesday it is going through with an initial public offering that could value the company at up to 3.3 billion Swiss francs ($3.67 billion) despite recent fluctuations with the value of Swiss francs.
Fresh off completing a $1 billion buyback ahead of schedule, American Airlines Group Inc. announced plans Tuesday for an additional $2 billion share repurchase, buoyed by higher profits aided by declining fuel prices.
Oppenheimer & Co. will pay $20 million and admit wrongdoing to settle claims by the U.S. Securities and Exchange Commission and the Treasury Department's Financial Crimes Enforcement Network that it broke laws when selling unregistered shares of penny stocks on behalf of customers, authorities said Tuesday.
A Third Circuit panel upheld a decision in favor of Downey Financial Corp.'s Chapter 7 trustee on Monday in a $370 million tax refund dispute with the Federal Deposit Insurance Corp., finding a tax sharing agreement with Downey’s subsidiaries ensured the funds are part of its bankruptcy estate.
Witnesses for BP Exploration and Production Inc. on Monday called the company’s response to the Deepwater Horizon disaster “extraordinary,” as the oil giant began its case in the penalty phase over its responsibility for the 2010 well blowout.
The U.S. Securities and Exchange Commission on Monday asked the Second Circuit for leave to file an amicus brief in Manhattan U.S. Attorney Preet Bharara's appeal for an en banc review of the landmark ruling that vacated the insider trading convictions of two hedge fund managers.
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.