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Compliance
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June 06, 2025
Yotta Renews Post-Middleware Failure Claims Against Evolve
Yotta Technologies Inc., a fintech company caught in the implosion of now-bankrupt middleware company Synapse Financial Technologies Inc., has renewed claims it tossed earlier against its former partner Evolve Bank & Trust, accusing the bank of "running a Ponzi scheme" in connection with its alleged loss of millions of dollars in customer funds.
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June 06, 2025
CVS Health Can't Dodge Blame In Omnicare False Claims Suit
A New York federal judge rebuffed an attempt from CVS Health Corp. to evade responsibility in a False Claims Act case, after a jury found that its subsidiary Omnicare bilked the federal government out of over $135 million in fraudulent drug claims.
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June 06, 2025
NY AG Shuts Down 26 Online Sweepstakes Casinos
New York Attorney General Letitia James announced Friday that her office has shuttered the in-state operations of 26 online sweepstakes casinos, saying they are prohibited by state law because they involve risking something of value.
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June 06, 2025
Feds Want Comments On Altering ESA Conservation Rule
The U.S. Fish and Wildlife Service on Friday said it's considering altering a Biden-era rule intended to increase participation in voluntary conservation programs, and asked the public for input.
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June 06, 2025
Free Speech Shields Rehab From Permit Suit, Court Says
A Connecticut drug treatment facility does not have to face claims, including unfair trade practices, lodged by a prospective competitor amid a contentious permit battle, a state appellate panel ruled Friday, finding that the state's anti-SLAPP statute is fatal to the case.
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June 06, 2025
Boston Feds Must Do 'More With Less' On White Collar Front
Defense attorneys say they see early signs of an uptick in white collar prosecutions under new Massachusetts U.S. Attorney Leah Foley, though depleted resources in the prominent Boston office and an overwhelming focus on immigration could limit the number of high-profile cases in the near future.
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June 06, 2025
DOJ Says More IT Workers Laundered Crypto For North Korea
The U.S. Department of Justice filed a civil complaint alleging information technology workers from North Korea evaded U.S. sanctions and accumulated millions in cryptocurrency for the benefit of the North Korean government.
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June 06, 2025
Auto Industry Questions Update To FCC Connected-Tech Ban
With the automotive technology players saying they need more time to assess their supply chains, the Federal Communications Commission is giving the public an additional 18 days to comment on a proposal that would add to the list of vehicle connectivity technologies banned from Russian and Chinese manufacturers.
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June 06, 2025
FCC Says Texas Telecom Must Pay Back $5M In Federal Support
The Federal Communications Commission said Friday that a West Texas telecom will have to pay back $5.5 million in federal support because it didn't follow commission rules when documenting its eligibility for the money.
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June 06, 2025
Feds Tee Up Redo Of Vehicle Fuel Economy Standards
The U.S. Department of Transportation said Friday that vehicle fuel economy standards issued by the Biden administration improperly factored electric vehicles into the calculus, resulting in overly stringent standards that the Trump administration will soon revise.
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June 06, 2025
GC Cheat Sheet: The Hottest Corporate News Of The Week
In corporate legal news from the past week, in-house lawyers' use of alternative legal service providers remains low, and the top Justice Department merger official said that the Trump administration welcomes "fix-it-first proposals," where merging companies arrange to sell off overlapping business lines.
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June 06, 2025
Dems Urge FHFA To Halt Trump's Fannie, Freddie Plans
A group of 13 Democratic U.S. senators, along with Sen. Bernie Sanders, urged the Federal Housing Finance Agency to put on hold efforts from President Donald Trump to end government conservatorship for Fannie Mae and Freddie Mac, stating in a letter that reprivatizing the entities "could dramatically increase costs for families seeking to purchase a home."
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June 06, 2025
4th Circ. Stays Ruling Restoring Frozen Federal Grant Funding
A split Fourth Circuit panel has blocked a South Carolina federal judge's order directing the federal government to restore 32 congressionally funded grants that were frozen by the Trump administration, while casting doubt on nonprofits' and cities' legal challenge.
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June 06, 2025
Gemini Confidentially Files For IPO Amid Crypto Listings Buzz
Crypto exchange Gemini Space Station Inc. said Friday it confidentially filed for an initial public offering, marking a first step toward going public amid growing enthusiasm for crypto-related listings following stablecoin issuer Circle Internet Group Inc.'s blockbuster IPO.
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June 06, 2025
European Soccer Org. Under Fire For Stifling 'Super League'
Spain's competition watchdog opened an investigation into European soccer's governing body on Friday, focusing on a series of agreements it struck with top flight clubs to prevent them from joining the so-called Super League project backed by promoter A22 Sports Management.
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June 06, 2025
Goldberg Segalla Adds Toxic Torts Expert In NY
Civil litigation firm Goldberg Segalla LLP has added a trial lawyer who is an expert in complex asbestos litigation, product liability, personal injury and commercial litigation matters to its toxic torts and environmental law group in Garden City, New York.
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June 06, 2025
Ex-SDNY Prosecutor Exits Paul Weiss For Jenner & Block
Just months after rejoining Paul Weiss Rifkind Wharton & Garrison LLP, the former U.S. attorney for the Southern District of New York is leaving the firm to join Jenner & Block LLP.
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June 05, 2025
FTC Chair Calls On Congress To 'Reform' Kids' Privacy Model
The longstanding framework for protecting children from online privacy harms is no longer working as Congress intended, the head of the Federal Trade Commission said Wednesday, in urging federal lawmakers to take steps to empower both the agency and parents to more effectively tackle these growing risks.
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June 05, 2025
'Sparse' OPM Record On Mass Firings Backs Win, Unions Say
A "sparse and self-serving" record provided by the U.S. Office of Personnel Management still shows the agency unlawfully directed federal agencies to fire probationary employees en masse, so a California federal court can reach a final decision now and "unwind" those terminations, a coalition including unions and advocacy groups said Thursday.
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June 05, 2025
FINRA Panel Awards More Than $2M Over Mismanaged Stocks
U.S. Capital Wealth Advisors and two representatives must pay more than $2 million and rescind the sale of thousands of shares of Microsoft and Google over claims that they sold off a client's blue-chip investments and told her to invest heavily in an allegedly fraudulent Indian media company, a Financial Industry Regulatory Authority arbitration panel has held.
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June 05, 2025
Calif. Adviser, CEO To Pay $21M To End SEC Theft Claims
A California investment adviser and its CEO have agreed to pay over $21 million to end U.S. Securities and Exchange Commission claims they misappropriated over $15.3 million from a cannabis industry client — including $4.6 million used to buy a home — and overstated its assets under management in regulatory filings.
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June 05, 2025
AI Co. Sues French Tech Biz Over $20M Graphics Content Deal
An artificial intelligence company is suing a French technology business in California federal court over a more than $20 million deal giving it access to a platform that creates graphics content, accusing it of committing acts of bad faith "at every stage" of their relationship.
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June 05, 2025
Infant Cushion Maker Urges DC Circ. To Vacate CPSC Rule
A company that manufactures infant support cushions has told the D.C. Circuit that the U.S. Consumer Product Safety Commission overstepped its authority by issuing a rule regulating the products as "durable" and thus skirting congressional limits on its ability to issue mandatory product safety standards.
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June 05, 2025
Colo. Gov. Faces Suit Over Order To Comply With ICE Info Bid
Colorado Gov. Jared Polis was accused in court Wednesday of forcing government employees to violate a state law by requesting they honor U.S. Immigration and Customs Enforcement requests for information about 35 sponsors of unauthorized immigrant children.
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June 05, 2025
SEC Wants 8th Circ. To Remand 'Dealer' Suit After Dismissals
The U.S. Securities and Exchange Commission asked the Eighth Circuit on Thursday to send a $12 million case it won against Carebourn Capital back to the district court in light of its recent decision to take a less expansive approach to the definition of "securities dealer."
Expert Analysis
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UK May Play Major Role In Corporate Misconduct Regulation
In light of the U.S.' pause in Foreign Corrupt Practices Act enforcement, the U.K. Serious Fraud Office has released new guidance showing it may seize the opportunity to play a heightened role in regulating corporate misconduct by U.S. companies with a global presence, particularly over the next few years, say attorneys at Paul Weiss.
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Tariff Strategies For The US Renewable Energy Sector
The Trump administration's tariff actions over the last few months are challenging for the renewable energy industry — but there are strategies for contending with the uncertainty, including diversifying supply chains, seeking certification about equipment origins, and adding tariff-related language to supply contracts and offtake agreements, say attorneys at Sheppard Mullin.
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Series
Playing Poker Makes Me A Better Lawyer
Poker is a master class in psychology, risk management and strategic thinking, and I’m a better attorney because it has taught me to read my opponents, adapt when I’m dealt the unexpected and stay patient until I'm ready to reveal my hand, says Casey Kingsley at McCreadyLaw.
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3 Tax Issues Manufacturers Should Watch In 2025 Budget Bill
As Congress works toward a budget reconciliation bill, manufacturing companies should keep a keen eye on proposals to change bonus depreciation, the qualified business income deduction and energy tax credits, which could have a significant impact on capital-intensive industries, say attorneys at Frost Brown Todd.
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Key Aspects Of FDIC's Resolution Planning FAQ
The Federal Deposit Insurance Corp.'s recent FAQ on changes to its resolution plan rule ease burdensome requirements for some large institutions and exempt others from discussion of franchise components, making it easier for banks to finalize submissions before the July 1 deadline, say attorneys at Moore & Van Allen.
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Trump Rule Would Upend Endangered Species Status Quo
The Trump administration's recent proposal to rescind the regulatory definition of "harm" in the Endangered Species Act would be a tectonic shift away from years of established regulatory practice, with major implications for both species protection and larger-scale conservation efforts, says David Smith at Manatt.
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Chancery Ruling Raises Bar For Advance Notice Bylaws Suits
The Delaware Court of Chancery's recent ruling in Siegel v. Morse will make it more difficult for plaintiffs to successfully challenge advance notice bylaws before the emergence of an actual or threatened proxy contest, presumably reducing the occurrence of such challenges, say attorneys at Venable.
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DOJ Memo Raises Bar For Imposition Of Corporate Monitors
A recently released U.S. Department of Justice memo, outlining guidance on the imposition of compliance monitors in corporate criminal cases, reflects DOJ leadership’s concerns about scope creep and business costs, but the strategies for companies to avoid a monitorship haven't changed much compared to the Biden era, says James Koukios at MoFo.
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Series
Law School's Missed Lessons: Becoming A Firmwide MVP
Though lawyers don't have a neat metric like baseball players for measuring the value they contribute to their organizations, the sooner new attorneys learn skills frequently skipped in law school — like networking, marketing, client development and case evaluation — the more valuable, and less replaceable, they will be, says Alex Barnett at DiCello Levitt.
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How NY's FAIR Act Mirrors CFPB State Recommendations
New York's proposed FAIR Business Practices Act, which targets predatory lending and junk fees, reflects the Rohit Chopra-era Consumer Financial Protection Bureau's recommendations to states in a number of ways, including by defining "abusive" conduct and adding a new right to file class actions, says Christian Hancock at Bradley Arant.
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Expect Eyes On Electronic Devices At US Entry Points
Electronic device searches are becoming common at U.S. border inspections, making it imperative for companies to familiarize themselves with what's allowed, and mandate specific precautions for employees to protect their privacy and sensitive information during international travel, say attorneys at Seyfarth.
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Big Tech M&A Risk Under Trump May Resemble Biden Era
Merger review under the Trump administration may not differ substantially from merger review under the Biden administration, particularly in the Big Tech arena, in which case dealmakers and investors should shift the antitrust discount on M&A deals upward, says Jonathan Barnett at the University of Southern California Gould School of Law.
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Takeaways From DOJ's 1st Wage-Fixing Jury Conviction
U.S. v. Lopez marked the U.S. Department of Justice's first labor market conviction at trial as a Nevada federal jury found a home healthcare staffing executive guilty of wage-fixing and wire fraud, signaling that improper agreements risk facing successful criminal prosecution, say attorneys at McGuireWoods.
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Calif. Climate Superfund Bill Faces Legal, Technical Hurdles
California could soon join other states in sending the fossil fuel industry a massive bill for the costs of coping with climate change — but its pending climate Superfund legislation, if enacted, is certain to face legal pushback and daunting implementation challenges, says Donald Sobelman at Farella Braun.
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How Cos. Can Navigate Risks Of New Cartel Terrorist Labels
The Trump administration’s recent designation of eight drug cartels as foreign terrorist organizations gives rise to new criminal and civil liabilities for companies that are unwittingly exposed to cartel activity, but businesses can mitigate such risks in a few key ways, say attorneys at Steptoe.