Top Stories

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  Zillow To Pay $212M To Exit Investors' Home-Flipping Suit

  By Jessica Corso

  Zillow told a federal judge in Washington state Wednesday the company has agreed to settle an investor class act...(read more)

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  Weil To Wind Down As Top Attorneys Abandon Firm

  By Daniel Moritz-Rabson, Alex Wittenberg and Aebra Coe

  Weil Gotshal & Manges LLP, the restructuring powerhouse that led Lehman Brothers, Enron and General Motors throu...(read more)

• BREAKING: DOL Finalizes Pharmacy Benefit Manager Fee Disclosure Rule

  By Kellie Mejdrich

  The U.S. Department of Labor's employee benefits arm unveiled a final rule Thursday that requires pharmacy benefit managers — which act as intermediaries between drugmakers, pharmacies and insurers — to make new disclosures on their fees and compensation to employer-sponsored group health plans.

• CFPB Audit Flags Cybersecurity Gaps Amid Staff Departures

  By Jon Hill

  The Consumer Financial Protection Bureau has failed to promptly fix serious cyber weaknesses and consistently track data in its possession as staffing losses have hampered the agency's ability to safeguard its systems, according to a federal watchdog audit released Wednesday.

• 'Lessons Learned': 9th Circ. Judge Doubts Uber Clawback Bid

  By Dorothy Atkins

  A Ninth Circuit judge doubted Uber's request Wednesday to claw back 42 documents inadvertently produced in sexual assault multidistrict litigation during its attorney-client privilege rereview, telling counsel, "At a certain point, we have to say stop, put your pencils down," and asking why this shouldn't be "an example of lessons learned."

• FTC Probes Delta, Uber, Others Over Data-Driven Pricing

  By Allison Grande

  The Federal Trade Commission is pressing Delta, Uber, Target and a half-dozen other companies to detail how they're using personal data to set individualized pricing for consumers and compensation for workers, marking the latest escalation of the agency's growing scrutiny of the increasingly prominent business practice.

• Ex-Chemical Co. Owner Fights $69.2M Trade Secrets Award

  By Jarek Rutz

  The former owner of a chemical manufacturer and his nephews urged the Delaware Supreme Court on Wednesday to overturn a nearly $69.2 million trade secrets judgment, arguing the award rests on an inflated estimate of what it would cost to recreate stolen formulas, while buyer Arxada insisted the defendants should not profit from taking them.

• 4th Circ. Judge Sees 'Big Brother' In Va. Social Media Limits

  By Hayley Fowler

  A Fourth Circuit judge Wednesday expressed concern with a Virginia law limiting children's access to social media, telling counsel for the commonwealth that the provision has a "Big Brother atmosphere" to it and suggesting he'd back the district court's injunction halting enforcement of the regulation.

• 9th Circ. Open To Decertifying BofA COVID Fee-Relief Class

  By Dorothy Atkins

  A Ninth Circuit panel appeared open Wednesday to decertifying a class of Bank of America account holders who allege the bank abruptly ended a COVID-19 fee-relief program without notice, with all three judges criticizing the class definition for being overly broad, and two judges suggesting individualized issues predominate.

• 9th Circ. Judge Calls Out Whole Foods For Standing Flip-Flop

  By Rachel Riley

  A Ninth Circuit judge confronted Whole Foods on Wednesday for reversing its position in a proposed class action alleging failure to include wage information in job listings, pressing its counsel on why an appellate panel should accept its new standing argument and let the case proceed in federal court instead of Washington state court.

• Endeavor Sues Icahn Over 'Illegally Acquired' Shares

  By Jessica Corso

  Media company Endeavor Group Holdings Inc. sued billionaire investor Carl Icahn in New York federal court Wednesday, arguing he should be required to forfeit the shares in the company that he "illegally acquired" before it was taken private in a $13 billion acquisition by Silver Lake.

• Satellite Co. Asks Fla. Court To End $15M Finder's Fee Suit

  By David Minsky

  A satellite technology company asked a Florida state court on Wednesday to once and for all end a lawsuit alleging it owes $15 million in finder's fees for help with sourcing funders, arguing the complaint was already considered and rejected by federal courts. 

• Electronics Maker Says $48.5M Tax Suit Wrongly Tossed

  By Jarek Rutz

  Electronics manufacturer Flex Ltd. urged the Delaware Supreme Court on Wednesday to revive its bid for a $48.5 million tax distribution from its Nextracker Inc. spinoff, arguing the companies' agreements entitled it to the money, while Nextracker maintained Flex had agreed to bear the tax costs.

• Robinhood Agrees To Pause Sports Event Contracts In Ohio

  By Tom Lotshaw

  Robinhood Markets Inc. on Wednesday said it struck an agreement with Ohio's gaming commission to stop offering new sports-related event contracts in the Buckeye State in exchange for an enforcement reprieve while litigation over the contracts' legality plays out in federal courts.