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Compliance
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June 17, 2024
Calif. Becomes Last State To Ink Deal Over Blackbaud Breach
Blackbaud Inc. has agreed to pay $6.75 million to resolve data security claims brought by California's attorney general, who was the only one to sit out a nearly $50 million settlement that the software provider reached last year with every other state over a 2020 ransomware attack that affected thousands of its customers.
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June 17, 2024
Teva, DOJ Signal Key Kickback Case May Fizzle At 1st Circ.
A U.S. Department of Justice kickback case against Teva Pharmaceuticals — closely watched by False Claims Act lawyers because of its multibillion-dollar stakes and its link to a major circuit split — is poised for settlement, according to a new First Circuit filing ahead of eagerly awaited oral arguments.
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June 17, 2024
FTC Says Adobe Uses Fee To Trap Consumers In Subscription
Adobe Inc. has for years deceived customers by keeping them in the dark about an early termination fee for its most lucrative subscription plan, making it difficult to cancel and trapping consumers in subscriptions they no longer want, the Federal Trade Commission alleged Monday.
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June 17, 2024
Ex-CNBC Pundit Caught After Years Of Dodging Fraud Claims
A former frequent CNBC guest who became a fugitive for nearly three years after being accused of defrauding investors has been arrested and faces a seven-count indictment, California federal prosecutors said Monday.
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June 17, 2024
DC Circ. Gives FERC More Clarity On Scope Of Climate Reviews
A recent D.C. Circuit decision not only endorses the Federal Energy Regulatory Commission's current approach to reviewing the climate change impacts of gas infrastructure projects, but may also help trim environmental reviews by federal agencies across the board.
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June 17, 2024
Tesla Says Texas Charter, Musk Pay Have Impact In Delaware
Pointing to recent Tesla stockholder votes to reincorporate in Texas and approve a mammoth Elon Musk pay package voided in Delaware, an attorney for Tesla has asked the Court of Chancery to reconsider holding a July 8 hearing on a proposed multibillion fee for class attorneys who won the Musk salary put-down.
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June 17, 2024
Ad Tech Judge Says No 'Moving Target' Damages, No Jury
A Virginia federal judge refused to consider the government's "late-arriving" math on how much federal agencies were overcharged by Google's digital advertising placement technology, according to an order unsealed Friday, a decision that allowed Google to successfully short-circuit the U.S. Department of Justice's damages claim and avoid a jury trial sought by the agency.
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June 17, 2024
SEC Fines Unlicensed Brokers $2.7M In Microcap Stock Case
The U.S. Securities and Exchange Commission ordered two unlicensed brokers, including one from Florida, to collectively pay a $2.7 million fine for allegedly scamming elderly people into buying microcap shares in companies and lying that the stock was being offered to them at a discount.
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June 17, 2024
Ex-Stimwave CEO Gets 6 Years For Dummy Implant Scheme
The founder and former CEO of Stimwave Technologies was sentenced to six years in prison Monday after tearfully proclaiming her innocence to healthcare fraud charges, with a Manhattan federal judge saying it's "sad" the defendant doesn't recognize the harm she inflicted by selling nonfunctional pain management device components.
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June 17, 2024
Exxon Investor Deal Ends Suit Over Emissions Proposal
Activist investor Arjuna Capital has escaped Exxon Mobil Corp.'s lawsuit over a contentious greenhouse gas-related shareholder proposal the investor sought to include in the company's 2024 proxy statement after a Texas federal judge on Monday accepted the investor's promises not to resubmit the proposal.
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June 17, 2024
Google Says Texas Took Opposing Positions On Key Law
Google told a Texas federal court the state attorney general's office made arguments in the case accusing the tech giant of monopolizing display advertising technology that directly contradict arguments the state is making in a case challenging the Pregnant Workers Fairness Act.
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June 17, 2024
SEC Says Ripple's Remedies Not Comparable To Terraform's
The U.S. Securities and Exchange Commission fired back at blockchain firm Ripple Labs' claims that a recent settlement with Terraform Labs supports a lower penalty amount, saying it can't be a direct comparison given Terraform is in bankruptcy and has made significant concessions Ripple hasn't.
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June 17, 2024
EEOC Went Too Far With Pregnant Worker Rule, Judge Says
The U.S. Equal Employment Opportunity Commission overstepped its authority by requiring workplace accommodations for "purely elective abortions," a Louisiana federal judge ruled Monday, handing two states and several religious groups a temporary reprieve from agency regulations implementing the Pregnant Workers Fairness Act.
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June 17, 2024
Crypto Trading Firm Nabs NY BitLicense
Crypto trading firm and liquidity provider Cumberland DRW announced Monday that the New York Department of Financial Services has granted it a BitLicense, which allows it to operate a crypto business within the state.
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June 17, 2024
OECD Tax Plan Is Developing Nations' Best Choice, Prof Says
Developing countries could gain more revenue from the OECD's multilateral plan to tax the digital economy than the U.N. Tax Committee's bilateral alternative because they have small treaty networks, many customers and few large companies, an academic argued Monday during an Oxford University panel.
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June 17, 2024
Binance Says Hamas Attack Suit Can't Prove Fundraising Link
Binance Holdings Ltd. has urged a New York federal judge to dismiss claims the exchange abetted terrorism because the survivors of Hamas' Oct. 7 attack on Israel haven't shown a direct link between the platform's cryptocurrency services and the planning of the attack.
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June 17, 2024
Consulting Firms To Pay $11.3M Over Rent Help Site Breach
A consulting firm and its subcontractor have agreed to pay $11.3 million to resolve a False Claims Act suit alleging that they allowed the personal data of low-income New Yorkers to be compromised while operating a pandemic-era rental assistance program website.
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June 17, 2024
IRS Asks Court To Leave Alone Worker Retention Credit Pause
An Arizona federal court should reject a tax advisory firm's request to lift the IRS' moratorium on processing claims for the pandemic-era employee retention credit, the agency argued, saying the agency should be allowed to continue to run the program as it sees fit.
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June 17, 2024
Split Mass. Top Court Backs Strict View Of Prompt Pay Law
The top appeals court in Massachusetts said in a divided opinion Monday that contractors must pay overdue invoices before disputing claims under the state's prompt pay law, with two dissenting judges criticizing the majority for trying to rewrite the law "by judicial fiat."
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June 17, 2024
LA City Atty Accused Of Retaliating Against Criminal Chief
The former criminal chief of the Los Angeles city attorney's office is seeking more than $1 million over claims she faced a "barrage of retaliation" and was unfairly placed on leave after reporting the city attorney's alleged excessive on-the-job alcohol consumption, her refusal to prosecute certain companies and other purported misconduct.
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June 17, 2024
Conn. Worker Gets $144K Counsel Fee After Bias Trial Win
The Connecticut Department of Energy and Environmental Protection must pay nearly $139,000 in attorney fees to W. Martyn Philpot Jr. after a Black employee won a federal jury verdict on racial hostility claims, including accusations that he found a noose hanging near his desk in a state office building.
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June 17, 2024
Attys Accused Of Judge Shopping Must Turn Over Q&A Doc
Attorneys accused of a coordinated effort to "judge shop" amid federal suits challenging an Alabama law banning certain medical procedures for transgender youth must supply a document the court believes displays the attorneys' preparations for a panel hearing in which one of the attorneys allegedly committed perjury.
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June 17, 2024
NY Says IGRA Doesn't Keep State Lottery Off Tribal Land
The New York State Gaming Commission has asked a federal judge to throw out the Cayuga Nation's attempt to block lottery games from operating on tribal lands, arguing state lotteries do not fall under the federal Indian Gaming Regulatory Act's jurisdiction.
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June 17, 2024
CFTC Fines Trafigura $55M In Novel Whistleblower Action
The U.S. Commodity Futures Trading Commission announced a first-of-its-kind settlement Monday with Trafigura Trading LLC, which agreed to pay a $55 million penalty over allegations that it manipulated oil derivatives prices while discouraging employees from reporting potentially illegal activity.
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June 17, 2024
Don't Let Farm Org Rewrite Wage Rule Suit, DOL Tells Judge
A farm group shouldn't be allowed to revise its challenge to the U.S. Department of Labor's new wage rule for certain temporary workers, the agency told a Charlotte, North Carolina, federal judge, saying the revision attempt comes too late as the matter is already awaiting the judge's decision.
Expert Analysis
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Litigation Inspiration: Attys Can Be Heroic Like Olympians
Although litigation won’t earn anyone an Olympic medal in Paris this summer, it can be worthy of the same lasting honor if attorneys exercise focused restraint — seeking both their clients’ interests and those of the court — instead of merely pursuing every advantage short of sanctionable conduct, says Bennett Rawicki at Hilgers Graben.
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Unpacking NY's Revised Hospital Cybersecurity Rule Proposal
The New York State Department of Health's recently revised hospital cybersecurity rule proposal highlights increased expectations and scrutiny around cybersecurity in the healthcare sector, while adapting to both recent industry developments and public comments, say Christine Moundas and Gideon Zvi Palte at Ropes & Gray.
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What To Know As CFPB Late Fee Rule Hangs In Limbo
Though the Consumer Financial Protection Bureau's final credit card late fee rule faces an uncertain future due to litigation involving injunctions, emergency petitions and now a venue dispute, card issuers must understand how to navigate the interim period and what to do if the rule takes effect, say attorneys at Steptoe.
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Lean Into The 'Great Restoration' To Retain Legal Talent
As the “great resignation,” in which employees voluntarily left their jobs in droves, has largely dissipated, legal employers should now work toward the idea of a “great restoration,” adopting strategies to effectively hire, onboard and retain top legal talent, says Molly McGrath at Hiring & Empowering Solutions.
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Unlocking Blockchain Opportunities Amid Legal Uncertainty
Dozens of laws and legal precedents will come into the fore as Web3, metaverse and non-fungible tokens gain momentum, so organizations need to design their programs with a broader view of potential exposures — and opportunities, say Teresa Goody Guillén and Robert Musiala at BakerHostetler and Steve McNew at FTI Consulting.
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Adopting 7 Principles May Improve Voluntary Carbon Markets
The Biden administration's recently issued joint policy statement on improving the integrity of voluntary carbon markets may help companies using carbon credits to offset their emissions withstand scrutiny by government agencies, the public and investors, say attorneys at Morgan Lewis.
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How Cannabis Rescheduling May Alter Paraphernalia Imports
The Biden administration's recent proposal to loosen federal restrictions on marijuana use raises questions about how U.S. Customs and Border Protection enforcement policies may shift when it comes to enforcing a separate federal ban on marijuana accessory imports, says R. Kevin Williams at Clark Hill.
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What The NYSE Proposed Delisting Rule Could Mean For Cos.
The New York Stock Exchange's recently proposed rule would provide the exchange with discretionary authority to commence delisting proceedings for a company substantially shifting its primary business focus, raising concerns for NYSE-listed companies over the exact definition of the exchange's proposed "substantially different" standard, say attorneys at Winston & Strawn.
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Managing Legal Risks After University Gaza Protests
Following the protests sparked by the war in Gaza, colleges and universities should expect a long investigative tail and take steps to mitigate risks associated with compliance issues under various legal frameworks and institutional policies, say Wiley's Diana Shaw and Colin Cloherty.
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Live Nation May Shake It Off In A Long Game With The DOJ
Don't expect a swift resolution in the U.S. Department of Justice's case against Live Nation, but a long litigation, with the company likely to represent itself as the creator of a competitive ecosystem, and the government faced with explaining how the ticketing giant formed under its watch, say Thomas Kliebhan and Taylor Hixon at GRSM50.
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5 Steps For Gov't Contractor Affirmative Action Verification
As the federal contractor affirmative action program certification deadline approaches, government contractors and subcontractors should take steps to determine their program obligations, and ensure any required plans are properly implemented and timely registered, say Christopher Wilkinson at Perkins Coie and Joanna Colosimo at DCI Consulting.
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Boeing Saga Underscores Need For Ethical Corporate Culture
In the wake of recent allegations about Boeing’s safety culture, and amid the U.S. Department of Justice’s new whistleblower incentives, business leaders should reinvigorate their emphasis on compliance by making clear that long-term profitability requires ethical business practices, says Maxwell Carr-Howard at Dentons.
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Debate Over CFPB Definition Of Credit Is Just Beginning
The Consumer Financial Protection Bureau has recently worked to expand the meaning of credit, so anyone operating on the edges of the credit markets, or even those who assumed they were safely outside the scope of this regulatory perimeter, should pay close attention as legal challenges to broad interpretations of the definition unfold, says John Coleman at Orrick.
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Key Takeaways From 2024 Accountants' Liability Conference
At the recent annual Accountants' Liability Conference, regulators provided important commentary on new Public Company Accounting Oversight Board rulemaking and standard-setting initiatives, and emphasized regulatory priorities ranging from the tone at the top to alternative practice structures, say attorneys at Arnold & Porter.
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FDA Warning Indicates Scrutiny Of Regenerative Health Cos.
The U.S. Food and Drug Administration's recent warning letter to Akan Biosciences is a quintessential example of the agency's enforcement priorities for certain products involving human cells and tissues, and highlights ongoing scrutiny placed on manufacturers, say Dominick DiSabatino and Cortney Inman at Sheppard Mullin.