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Compliance
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June 05, 2024
DLA Piper Atty, Ex-UK Official On Practicing Across The Pond
In returning to the United States after nearly two decades in London, former Serious Fraud Office official Judy Krieg says DLA Piper was the ideal place to serve clients and leverage the skills she has gained from working on both sides of the Atlantic.
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June 05, 2024
FTC Can't Pause Novant's $320M Bid To Buy NC Hospitals
The Federal Trade Commission on Wednesday lost its bid to block Novant Health from buying two local hospitals in North Carolina for $320 million while it conducts an in-house review, with a federal judge reasoning that competition would actually fare better if the merger advanced.
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June 05, 2024
5th Circ. Private Funds Ruling Could Rewrite SEC Agenda
The Fifth Circuit on Wednesday vacated U.S. Securities and Exchange Commission regulations that would have required private fund advisers to provide detailed disclosures to investors, in a sweeping decision that could upend the regulator's approach to promised rules on climate, artificial intelligence and crypto assets.
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June 04, 2024
Trump Wants Gag Orders Terminated In Wake Of Guilty Verdict
Donald Trump asked a New York County judge to terminate gag orders restricting the former president from making out-of-court statements during his criminal trial, arguing that the "restrictions" on his First Amendment rights are no longer warranted now that the trial has come to an end.
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June 04, 2024
Ontrak CEO Shed $20M In Stock With Insider Info, Jury Hears
Ontrak Inc.'s founder rushed to dump over $20 million of the healthcare company's stock using insider information about a souring relationship with its biggest client, Cigna, helping him avoid $12 million in losses, prosecutors told California federal jurors Tuesday in a first-of-its-kind securities fraud trial.
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June 04, 2024
GOP Spending Bill Aims To Cut SEC Budget, Nix Climate Rule
The Republican-led House Appropriations Committee released a spending bill Tuesday that threatens to cut funding for financial service agencies and prevent the U.S. Securities and Exchange Commission from funding its controversial climate disclosure rules and bar Consumer Financial Protection Bureau spending on a contentious rule, as well.
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June 04, 2024
Microsoft Failing To Protect Students' Data, EU Watchdog Told
A prominent Austrian advocacy group is urging the country's data protection authority to take a closer look at how Microsoft is protecting children's personal information, arguing the tech giant is unfairly trying to "shift" its responsibility under European Union privacy law to the schools that use its educational software and is secretly tracking minors' online activities.
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June 04, 2024
Divided 9th Circ. Reverses Sutter Health Antitrust Trial Victory
A split Ninth Circuit panel on Tuesday overturned Sutter Health's win in insurance plan purchasers' $400 million antitrust suit, ruling that the lower court wrongly excluded "highly relevant" evidence — including admissions by Sutter executives — that would've helped the purchasers potentially prove claims they overpaid thanks to Sutter's anticompetitive conduct.
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June 04, 2024
Insulin Pens Exposed Patients To Disease, Hospital Says
A Connecticut-based hospital says medical device manufacturer Novo Nordisk should be on the hook for a $1 million settlement the hospital paid to end claims that patients were exposed to blood-borne infections because of the medical staff's use of Novo Nordisk's product.
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June 04, 2024
Atty's Argentine Uber Debut Fight Lands At Calif. High Court
Barring fraudulent concealment claims under the so-called economic loss doctrine would create "perverse incentives" for people to draw others into contracts and "have their way with them," the California Supreme Court was told Tuesday by counsel for an Argentinian attorney suing Uber on allegations it hid crucial information from him.
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June 04, 2024
CFPB Seeks Traffic Cop For Parallel Small-Biz Data Rule Suits
The Consumer Financial Protection Bureau on Tuesday asked a Kentucky federal judge to stay an industry lawsuit challenging the agency's small-business lender reporting requirements, saying a largely identical challenge filed earlier in Texas should take precedence.
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June 04, 2024
Rep. Gaetz Backs FTC's Noncompete Ban In Court
Rep. Matt Gaetz threw his support behind the Federal Trade Commission on Tuesday in a court battle over the agency's new rule banning employee noncompete clauses, arguing that Congress has repeatedly affirmed the commission's authority to make competition rules.
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June 04, 2024
HP Fraud Charges Against Ex-Autonomy Execs Head To Jury
Closing arguments wrapped Tuesday in a California federal criminal trial over claims that former Autonomy CEO Michael Lynch and ex-finance vice president Stephen Chamberlain duped HP into overpaying billions for the British tech company, with Chamberlain's lawyer saying his client did his job "in good faith," which, in the court's eyes, is a "complete defense."
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June 04, 2024
Airbus' Satcom Unit Fined $44K For Anti-Boycott Violations
The U.S. Department of Commerce announced a penalty of $44,750 against Airbus DS Government Solutions Inc. on Tuesday after the company self-reported three violations of federal regulations prohibiting U.S. companies from supporting boycotts against Israel.
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June 04, 2024
DOJ Remains 'Clear Eyed' About No-Poach Prosecutions
A senior U.S. Department of Justice Antitrust Division prosecutor continued Tuesday to emphasize the importance of criminal cases accusing employers of fixing wages or curtailing recruitment and hiring of workers from rivals, asserting that despite courtroom defeats, enforcers are trying to learn from past failures.
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June 04, 2024
Meta, Texas Strike Deal To End State's Biometric Privacy Suit
Meta Platforms Inc. and Texas' attorney general have agreed to settle the state's suit accusing the social media giant of using its facial recognition technology to illegally collect Facebook users' biometric information without their consent, the parties told a state court.
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June 04, 2024
Fla. Biz Owners Indicted On Grant-Writing Fraud Conspiracy
Two northern Florida business owners have been federally indicted on fraud conspiracy-related charges in connection to a scheme in which they allegedly stole nearly $3 million from minority-owned companies by promising grant-writing services that were never delivered.
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June 04, 2024
Airlines Seek Shield From Chicago's New Paid Sick Leave Law
The trade group representing the largest U.S. airlines alleged in a federal lawsuit Tuesday that Chicago's new paid sick leave law cannot be enforced against airlines because it interferes with flight crew staffing and scheduling in violation of federal law and collective bargaining agreements.
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June 04, 2024
2 Firms Tapped To Lead Barclays Investor Suit
Kaplan Fox & Kilsheimer LLP and Sperling & Slater LLC have been appointed to co-lead an investor suit accusing Barclays PLC of over-issuing $17 billion of securities.
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June 04, 2024
CFPB Cautions Firms Against Contractual 'Fine Print Tactic'
The Consumer Financial Protection Bureau on Tuesday warned banks and other financial services firms against trying to "trick" consumers with unenforceable waivers in their customer contracts, saying their use of certain contractual terms and conditions can open them up to supervisory or enforcement action.
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June 04, 2024
Garland Defends DOJ Integrity, Demurs On Justices' Ethics
Attorney General Merrick Garland on Tuesday defended the Department of Justice's independence, deflecting questions about ethics scandals at the U.S. Supreme Court and rejecting Donald Trump's "conspiracy theory" that federal prosecutors were the real force behind his recent conviction.
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June 04, 2024
Nurse Staffing Exec Wants Antitrust, Fraud Charges Separated
An indicted home health care staffing executive asked a Nevada federal court to separate the antitrust charge against him for allegedly fixing nurses wages from claims that he concealed the conspiracy and government probe when selling the business for more than $10 million.
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June 04, 2024
Top 3 Groups Lobbying The FCC
The Federal Communications Commission heard from advocates nearly 200 times in May on issues ranging from cybersecurity in schools and libraries to tribal broadband funding and deployment, net neutrality rules and captioning for the hearing- and speech-disabled.
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June 04, 2024
Red States Target EPA's Tribal Water Rights Rule
A group of red states has told a federal court that the U.S. Environmental Protection Agency has turned the Clean Water Act into what they derisively called the "Tribal Rights Act," through a rule that protects Native American rights to water resources.
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June 04, 2024
2nd Circ. Backs TD Bank's Win Over Ex-Manager's Bias Suit
The Second Circuit refused Tuesday to revive a former TD Bank manager's suit claiming he was fired because he suffered from anxiety and had requested parental leave, finding he couldn't overcome the bank's explanation that he was let go because of forgery.
Expert Analysis
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Unpacking The Interim Vet-Owned Small Biz Verification Rule
Government contractors that intend to bid for service-disabled veteran-owned small business set-aside contracts should immediately consider the potential impacts of a recently issued rule that specifies how contracting officers will verify that they have certified their status, say Derek Mullins and Beth Gotthelf at Butzel.
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The Art Of Asking: Leveraging Your Contacts For Referrals
Though attorneys may hesitate to ask for referral recommendations to generate new business, research shows that people want to help others they know, like and trust, so consider who in your network you should approach and how to make the ask, says Rebecca Hnatowski at Edwards Advisory.
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Compliance Strategies To Mitigate 3 New Areas Of AI Risk
The era of artificial intelligence-assisted corporate crime is here, but several concrete mitigation strategies can allow companies to address the new, rapidly evolving threats posed by deepfakes, information barrier evasion and AI model manipulation, say attorneys at Debevoise.
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Refresher On Employee Qualifications For Summer Interns
Before companies welcome interns to their ranks this summer, they should consider the extent to which the interns may be entitled to the same legal protections as employees, including the right to be paid for their hours worked and to receive at least minimum wage and overtime, says Kate LaQuay at Munck Wilson.
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Expect An Increase In Robinson-Patman Act Enforcement
Recent actions by the Federal Trade Commission and prominent lawmakers should be viewed as a harbinger of renewed scrutiny of price discrimination in all industries and a sign that Robinson-Patman Act investigations and enforcement actions are likely to see an uptick, say attorneys at Morgan Lewis.
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The Drawbacks Of Banking Regulators' Merger Review Plans
Recent proposals for bank merger review criteria by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. share common pitfalls: increased likelihood of delays, uncertainties, and new hurdles to transactions that could impede the long-term safety and soundness of the banks involved, say attorneys at WilmerHale.
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'Beauty From Within' Trend Poses Regulatory Risks For Cos.
Companies capitalizing on the current trend in oral supplements touting cosmetic benefits must note that a product claim that would be acceptable for an externally applied cosmetic may draw much stronger scrutiny from the U.S. Food and Drug Administration when applied to a supplement, say Natalie Rainer and Katherine Staba at K&L Gates.
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SEC Off-Channel Comms Action Hints At Future Enforcement
Although the U.S. Securities and Exchange Commission’s recent enforcement action against Senvest does not shed light on how the agency will calibrate penalties related to off-channel communications violations, it does suggest that we may see more cases against standalone investment advisers, say attorneys at Sidley.
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Perspectives
Criminal Defendants Should Have Access To Foreign Evidence
A New Jersey federal court recently ordered prosecutors to obtain evidence from India on behalf of the former Cognizant Technology executives they’re prosecuting — a precedent that other courts should follow to make cross-border evidentiary requests more fair and efficient, say Kaylana Mueller-Hsia and Rebecca Wexler at UC Berkeley School of Law.
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McKesson May Change How AKS-Based FCA Claims Are Pled
The Second Circuit’s analysis in U.S. v. McKesson, an Anti-Kickback Statute-based False Claims Act case, provides guidance for both relators and defendants parsing scienter-related allegations, say Li Yu at Dicello Levitt, Ellen London at London & Stout, and Erica Hitchings at Whistleblower Law.
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How Cos. Can Prep For New Calif. Privacy Regulations
The California Privacy Protection Agency has been very active in the first quarter of 2024 and continues to exercise its rulemaking authority with proposed draft regulations, so retailers should prepare for California Consumer Privacy Act enforcement and figure out how best to comply, say attorneys at Dentons.
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5 Employer Actions Now Risky After Justices' Title VII Ruling
Last week in Muldrow v. St. Louis, the U.S. Supreme Court ruled that harm didn't have to be significant to be considered discriminatory under Title VII of the Civil Rights Act, making five common employer actions vulnerable to litigation, say Kellee Kruse and Briana Scholar at The Employment Law Group.
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EPA Chemical Safety Rule Raises Questions About Authority
Stakeholders should consider the practical and economic costs of the U.S. Environmental Protection Agency's recently finalized rule imposing novel board reporting regulations for certain chemical plants and refineries, which signals that the agency may seek a role in regulating corporate governance, say attorneys at Sidley.
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Series
Being An Equestrian Makes Me A Better Lawyer
Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.
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Bracing For The CFPB's War On Mortgage Fees
As the Consumer Financial Protection Bureau homes in on the legality of certain residential mortgage fees, the industry should consult the bureau's steady stream of consumer lending guidance for hints on its priorities, say Nanci Weissgold and Melissa Malpass at Alston & Bird.