Top Stories

• 

  BofA Fined $1.21B Over 'Widespread' AML Compliance Issues

  By Sarah Jarvis

  Bank of America was hit with $1.21 billion in fines from the U.S. Treasury Department on Tuesday, with regulator...(read more)

• 

  11th Circ. Lowers Bar For Getting ERISA Claims Into Court

  By Kellie Mejdrich

  The full Eleventh Circuit on Tuesday overturned decades-old precedent that took a strict view of when federal be...(read more)

• Liquidia Settles United Therapeutics Suits With $380.7M Deal

  By Rae Ann Varona

  Liquidia will pay out $380.7 million as part of a settlement agreement with United Therapeutics Corp. that resolves six lawsuits between the pharmaceutical companies, Liquidia announced Tuesday, saying patients will continue to have access to its Yutrepia lung disease treatment that was central to litigation.

• What To Watch As Justices Weigh Video Privacy Law's Scope

  By Allison Grande

  The U.S. Supreme Court is poised to hear arguments Wednesday over who can sue under the decades-old Video Privacy Protection Act in a dispute that experts say is likely to hinge on the approach the justices take to squaring the statute's original intent with the capabilities of modern tracking technologies.

• CFTC Outlines Creative Path To Crypto Oversight

  By Aislinn Keely

  The U.S. Commodity Futures Trading Commission is employing a creative use of a Dodd-Frank Act provision to fashion itself a form of authority over crypto spot markets after the Clarity Act failed to move forward, an effort that experts say will draw industry applause and state scrutiny.

• OpenAI Accused Of Mining Kids' ChatGPT Data To Train LLMs

  By Hailey Konnath

  OpenAI has preyed on children by extracting "vast amounts of highly sensitive and valuable data" from millions of young ChatGPT users without valid consent and then using that information to train its large language models, according to a proposed class action filed Tuesday in California federal court.

• Apple Urges Judge To Toss 'Shocking' $5.7B Patent Verdict

  By Hailey Konnath

  Apple Inc. on Tuesday asked a California federal judge to wipe out a jury's $5.7 billion damages award for Taction Technology Inc. or order a new trial in the haptic vibration technology patent dispute, calling the award "shocking" and "untethered to any evidence at all."

• FTC Wants Shkreli Sanctioned Over Pharma Industry Ban

  By Sarah Jarvis

  The Federal Trade Commission and seven states asked a New York federal judge Tuesday to hold Martin Shkreli in contempt for violating a court order banning him from the pharmaceutical industry by trading in industry stocks and broadcasting opinions about the business since he was released from prison in 2022.

• Qualcomm Secures $2 In License Breach, Interference Trial

  By Dani Kass

  Arm Holdings should pay Qualcomm $2 for breaching a licensing agreement and interfering in Qualcomm's economic relationship with Meta, a Delaware federal jury found Tuesday.

• 10th Circ. Skeptical Of NCAA Eligibility Injunction's Scope

  By Zach Dupont

  A Tenth Circuit panel appeared hesitant Tuesday to uphold an injunction issued by a Colorado federal judge that granted eligibility to thousands of NCAA athletes excluded from the organization's new eligibility rule implemented this year.

• CVS Reaches $315M Deal With DOJ Over Opioid Prescriptions

  By Lauren Berg

  CVS Pharmacy Inc., the nation's largest pharmacy chain, has agreed to pay $315 million and implement certain safeguards to resolve claims that it knowingly filled invalid prescriptions for powerful opioids for years and sought payment through federal healthcare programs, the U.S. Department of Justice announced Tuesday.

• 2nd Circ. Seems Doubtful Of RTX Corp. Investors' Appeal

  By Kellie Mejdrich

  A Second Circuit panel Tuesday seemed leery of RTX Corp. investors' bid to revive allegations that the aerospace manufacturer violated securities laws by concealing an aircraft engine defect, with several judges pointing out how the complaint seemed to lack allegations that executives knew different disclosures were necessary.

• Jones Day, Morgan Lewis Guide $2.1B Steris-Xodus Deal

  By Al Barbarino

  Steris PLC has agreed to acquire specialty surgical products business Xodus Medical Inc. and some affiliates for $2.1 billion, with Jones Day advising Steris and Morgan Lewis & Bockius LLP representing Xodus.

• Justices Wary Of Weakening Sentencing Commentary

  By Phillip Bantz

  The U.S. Supreme Court appeared skeptical Tuesday of arguments that lower court judges should not give deference to U.S. Sentencing Commission commentary that interprets federal sentencing guidelines, with some of the justices wondering whether such a holding would open the floodgates for thousands of defendants seeking to have their sentences reconsidered.