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Class Action
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June 05, 2023
FTX Investor Suits Centralized In Fla. Over Celeb Objections
Eight investor suits tied to the November 2022 collapse of cryptocurrency exchange FTX will go through pretrial proceedings in Miami, the Judicial Panel on Multidistrict Litigation decided on Monday despite opposition to the move by celebrities including retired NFL quarterback Tom Brady and his ex-wife, model Gisele Bündchen.
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June 05, 2023
Ex-Gilead VP Says Execs Gamed Out Truvada Generic Date
A former Gilead executive testifying Monday in an antitrust trial over claims Gilead and Teva illegally delayed generic versions of its blockbuster HIV drugs until 2020 told jurors that before the pharmaceutical makers' deal, Gilead executives discussed the possibility that generic competition for Truvada could come as early as 2017.
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June 05, 2023
Mindbody Wants To Whittle Damages In Row Over $1.9B Merger
Fitness software platform Mindbody and Vista Equity Partners told the Delaware's Court of Chancery Monday that a $27 million settlement for stockholders who challenged their $36.50-per-share merger should offset any damages and interest levied against Mindbody's founder and the private equity firm.
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June 05, 2023
NYC Italian Eateries Can't Arbitrate Sexual Harassment Claims
A New York federal magistrate judge has denied a chain of Italian restaurants its bid to arbitrate sexual harassment claims in an employment lawsuit over unpaid overtime and wages as well as a purportedly hostile work environment, ruling that the harassment-related counts can't be arbitrated.
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June 05, 2023
9th Circ. Will Hear Google's 21M Class Cert. Appeal Early
The Ninth Circuit agreed Friday to expedite Google's appeal challenging the certification of a 21 million consumer class who allege Google monopolized app distribution on Android devices, setting oral arguments for September, which could give the panel enough time to rule before an upcoming November trial in the multidistrict litigation.
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June 05, 2023
Six Flags Survives Investor Suit Over Botched China Plans
A Texas federal judge on Friday tossed a proposed securities fraud class action against Six Flags over the amusement corporation's botched plans to expand in China, saying the investors bought stock too late to have standing following a Fifth Circuit panel's holding that narrowed the class period.
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June 05, 2023
3rd Circ. Rejects Rehearing Bid From Niaspan Buyers
The Third Circuit on Monday refused a rehearing bid from Niaspan buyers accusing AbbVie Inc. and Teva Pharmaceuticals Ltd. of scheming to delay a generic version of the cholesterol drug, after an appeals panel found the lower court was right not to certify a class of insurance plans and other end payors.
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June 05, 2023
Wash. Judge Affirms Ruling For Mariners In ADA Ballpark Suit
A Washington federal judge on Monday again sided with T-Mobile Park's ownership in a disability discrimination suit, clarifying an earlier ruling at the Ninth Circuit's request that baseball fans in wheelchairs have similar views to other spectators standing in front of them at Seattle Mariners games.
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June 05, 2023
Republic First Shareholders Sue Board Over Bank's Struggles
The directors of Republic First Bancorp Inc. have harmed the bank's reputation and caused its stock to crater because of their struggle for control of the board and ousting of the CEO, three prominent investors in the company allege in a derivative suit.
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June 05, 2023
Auto Parts Co. Must Face ERISA Suit Over 401(k) Management
An auto parts supplier can't avoid a lawsuit alleging its more than $1 billion 401(k) plan was saddled with excessive fees, a Michigan federal judge ruled Monday, finding the former workers leading the proposed class action provided reasons to doubt whether the company properly monitored the plan.
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June 05, 2023
Investors Defend Wells Fargo Suit Over Diversity Hiring Policy
Investors suing Wells Fargo over a diversity hiring policy that allegedly led to sham job interviews at the bank urged a California federal judge on Friday to allow their case to proceed, saying they have plausibly pled claims for securities fraud based on how the policy was glowingly pitched to the market.
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June 05, 2023
Bernstein Liebhard To Rep Tupperware Investors In Stock Suit
Bernstein Liebhard LLP will serve as lead counsel for a proposed class of Tupperware Brands Corp. investors over claims that the company misled shareholders with false financial reports, according to an order filed Monday in Florida federal court.
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June 05, 2023
Expedia Tells Justices No Standing In Cuba Land-Grab Suit
Three travel companies have asked the U.S. Supreme Court to take up their appeal of an Eleventh Circuit ruling that a group of Americans whose families owned land confiscated by the Cuban government have standing to sue the companies for trafficking in the property.
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June 05, 2023
Ex-Ascension Doc Says Mich. Settlement Thwarts Indiana Suit
A doctor suing over health care giant Ascension Health Alliance's COVID-19 vaccine policy says a national class settlement approved in April by a Michigan judge must be set aside because he filed his nationwide claims first.
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June 05, 2023
Tesla Wants 'Hastily-Filed' Camera Recording Suit Tossed
Tesla asked a California federal judge to dismiss a "hastily-filed" proposed class action over alleged vehicle camera recordings and data sharing, arguing the plaintiff sued after an article ran on unidentified camera recordings but alleges no facts showing any data from his car was improperly accessed or shared.
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June 05, 2023
NYC Hospital Execs Hit With $500M Self-Dealing Class Action
Executives and board members of the Maimonides Medical Center in Brooklyn have been accused of conspiring to divert hospital resources into their own pockets at the expense of patient care and community health in a proposed $500 million class action filed Monday.
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June 05, 2023
High Court Ruling Bolsters Viability Of Direct Listings
The U.S. Supreme Court's recent verdict limiting the ability of investors to sue companies that go public through a direct listing increases legal certainty regarding this fairly novel alternative to a traditional initial public offering, according to legal experts.
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June 05, 2023
Gamers Appeal Lost Bid To Pause Microsoft-Activision Deal
Gamers opposed to Microsoft's $68.7 billion purchase of Activision Blizzard Inc. continue to press for a preliminary injunction, filing an appeal with the Ninth Circuit seeking to pause the merger after their request was denied by a federal judge.
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June 05, 2023
JPML Sends States' Google Ad Tech Case Back To Texas
Litigation brought by state-level enforcers accusing Google of building an online display advertising monopoly belongs back in Texas federal court, the Judicial Panel on Multidistrict Litigation ruled Monday, saying a provision in the federal year-end appropriations bill curtailed the inclusion of state-led antitrust suits in multidistrict litigation.
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June 05, 2023
Connecticut Cases To Watch: A Midyear Report
Courts in Connecticut are working through thorny legal issues involving controversies of national interest and headline-grabbing public figures, and significant decisions in high-dollar civil cases are possible before the end of 2023.
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June 05, 2023
Funko Misled Investors In Warehouse Move, Suit Says
Bobblehead toymaker Funko Inc. failed to disclose accurate information about its decision to move its distribution center and upgrade a major software system, contributing to "disastrous" results for investors including plummeting profit margins and stock prices, according to a proposed shareholder class action filed Friday in Washington federal court.
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June 05, 2023
Sesame Place Sheds Negligence Claims In Race Bias Suit
A federal judge trimmed some of the negligence claims from a proposed class action alleging that costumed character actors at the Sesame Place theme park outside Philadelphia refused to interact with minority children, but allowed the broader discrimination suit to move ahead Monday.
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June 05, 2023
Wells Fargo 'Stonewalled' Discovery, TelexFree Investors Say
Victims of the $3 billion TelexFree Ponzi scheme are accusing Wells Fargo of dragging its feet on producing certain requested documents as the discovery deadline looms for the sprawling multidistrict litigation in Massachusetts, where they're seeking damages from the scheme's financial and legal facilitators.
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June 05, 2023
Artists Defend 'Collage Tool' Suit Against AI Art Cos.
A putative class of artists has urged a California federal judge to not let artificial intelligence art platforms like Stable Diffusion and Midjourney escape a copyright suit over their use of a "21st century collage tool," arguing that the accused image generators are massively misappropriating protected imagery.
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June 05, 2023
Logan Paul's Crypto Biz Has Texas Ties, Investor Says
A Texas investor in a failed crypto gaming project started by YouTube star Logan Paul and others pushed back against the defendants' arguments that they have no connection to Texas, where the suit was filed, saying there is indeed evidence that the project had ties to the Lone Star State.
Editor's Picks
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NFL Seeks To End Race-Based Concussion Tests After Outcry
The NFL said Wednesday it will push to end the use of "race-norming," which assumes Black former players start with lower baseline cognitive test scores, in assessing claims for payouts from the more than $1 billion concussion settlement amid allegations that it is discriminatory.
Expert Analysis
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Key Takeaways From Del. Chancery's Oracle Toss
The Delaware Chancery Court's recent finding that Oracle founder Larry Ellison didn't try to influence the company to overpay for its NetSuite acquisition offers important lessons on the determination of issues of control, including the importance of establishing an independent special committee, say attorneys at Fried Frank.
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Tackling Judge-Shopping Concerns While Honoring Localism
As the debate continues over judge-shopping and case assignments in federal court, policymakers should look to a hybrid model that preserves the benefits of localism for those cases that warrant it, while preventing the appearance of judge-shopping for cases of a more national or widespread character, says Joshua Sohn at the U.S. Department of Justice.
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How Fla. Amendment Changes The State's Mini-TCPA
Gov. Ron Desantis recently signed amendments that will roll back Florida's mini-Telephone Consumer Protection Act by getting rid of the capacious definition of an autodialer, leaving the courts to sort out where the lines fall in Florida Telephone Solicitation Act litigation, says Aaron Weiss at Carlton Fields.
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Perspectives
How Attorneys Can Help Combat Anti-Asian Hate
Amid an exponential increase in violence against Asian American and Pacific Islander communities, unique obstacles stand in the way of accountability and justice — but lawyers can effect powerful change by raising awareness, offering legal representation, advocating for victims’ rights and more, say attorneys at Gibson Dunn.
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Opinion
Congress Needs To Enact A Federal Anti-SLAPP Statute
Although many states have passed statutes meant to prevent individuals or entities from filing strategic lawsuits against public participation, other states have not, so it's time for Congress to enact a federal statute to ensure that free speech and petitioning rights are uniformly protected nationwide in federal court, say attorneys at Skadden.
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Financial Industry Must Beware Rising BIPA Litigation Tide
As Biometric Information Privacy Act litigation engulfs more financial institutions, it’s important that they evaluate their practices for collecting biometric data, and to consider whether their vendors should comply with BIPA’s requirements, and even some related California laws, say attorneys at Katten.
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Some Client Speculations On AI And The Law Firm Biz Model
Generative artificial intelligence technologies will put pressure on the business of law as it is structured currently, but clients may end up with more price certainty for legal services, and lawyers may spend more time being lawyers, says Jonathan Cole at Melody Capital.
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Revenue Sharing Argument Might Save Barrick In 401(k) Case
During recent oral arguments before the Tenth Circuit, Barrick Gold presented revenue sharing as an obvious alternative explanation for the selection of higher-cost share classes in its ex-workers’ 401(k) plan, establishing that dismissal of the case would be consistent with U.S. Supreme Court pleading standard precedent, say Emily Costin and Blake Crohan at Alston & Bird.
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Tips For Making The Most Of Blockchain Analysis
The abundance of blockchains and the sheer size of the data stored on each can make processing and analyzing them challenging, but with data in hand, the blockchain mystery begins to unravel, and the transactions, value transfers and smart contract events are much easier to follow, say analysts at Cornerstone Research.
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Dissecting The Case Law On Automaker Arbitration Provisions
As automakers increasingly turn to arbitration agreements for trimming and defending putative class action lawsuits, there are five factors driving courts' disparate outcomes when resolving an automaker's motion to compel arbitration, say Ellisse Thompson and Brandon Boxler at Klein Thomas.
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And Now A Word From The Panel: MDLs As A Last Resort
While the number of individual actions included in multidistrict litigation proceedings has exploded in recent years, it's important to remember that the Judicial Panel on Multidistrict Litigation views creation of an MDL as something that should happen only after consideration of all other options, says Alan Rothman at Sidley.
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BIPA Ruling Furthers Mixed Signals On Insurance Coverage
A recent Illinois appellate ruling in Remprex provides another perspective on the issue of insurance coverage for Biometric Information Privacy Act lawsuits, but its reach will be limited, as it did not cover the three exceptions that have been the focus of related federal court decisions, says Charles Insler at HeplerBroom.
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A Lawyer's Guide To Approaching Digital Assets In Discovery
The booming growth of cryptocurrency and non-fungible tokens has made digital assets relevant in many legal disputes but also poses several challenges for discovery, so lawyers must garner an understanding of the technology behind these assets, the way they function, and how they're held, says Brett Sager at Ehrenstein Sager.
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Opinion
High Court's Ethics Statement Places Justices Above The Law
The U.S. Supreme Court justices' disappointing statement on the court's ethics principles and practices reveals that not only are they satisfied with a status quo in which they are bound by fewer ethics rules than other federal judges, but also that they've twisted the few rules that do apply to them, says David Janovsky at the Project on Government Oversight.
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A Look At Corwin Cleansing After Chancery Edgio Ruling
The Delaware Chancery Court's denial of Corwin cleansing in an action seeking post-closing injunctive relief in the Edgio stockholders case has potentially significant implications for corporations and their boards in the negotiation of investment agreements with significant stockholders, say attorneys at Cleary.