Compliance

  • September 13, 2024

    SEC Inks $100M Deal With FirstEnergy, Sues Ex-CEO

    The U.S. Securities and Exchange Commission reached a $100 million settlement with FirstEnergy Corp. over its role in a $60 million corruption scandal Thursday, the same day the agency sued a former executive who collected tens of millions of dollars in executive perks while the wrongdoing unfolded.

  • September 13, 2024

    NFL QB Faces New Assault Claims, NCAA's NIL Woes Grow

    In this week’s Off The Bench, NFL quarterback Deshaun Watson is once again accused of sexual assault, and a group of former University of Michigan football players sue the NCAA for more than $50 million in NIL-related damages. In case you were sidelined this week, Law360 is here to catch you up on the sports and betting stories that had our readers talking.

  • September 13, 2024

    SEC Fines Zymergen $30M Over Misleading Pre-IPO Claims

    Now-shuttered biotechnology company Zymergen Inc. has agreed to pay a $30 million fine to settle U.S. Securities and Exchange Commission allegations that it misled investors in its initial public offering when it used "unsupported hype" about the market potential for its technology for foldable touch screens.

  • September 13, 2024

    Trio Of BigLaw Mergers Expected To Drive More Deal Talks

    After months of a relatively steady pace of law firm mergers and acquisitions, the trio of proposed BigLaw tie-ups announced in recent days will likely spur more firms toward entertaining similar deal talks, experts say. Here, Law360 offers a snapshot of the proposed deals.

  • September 13, 2024

    Philly's Defunct University Of The Arts Files For Ch. 7

    Philadelphia's University of the Arts, which abruptly closed in June, filed for Chapter 7 liquidation Friday in Delaware bankruptcy court, roughly two weeks after nearby Temple University said it would not move forward with a potential merger.

  • September 13, 2024

    DC Circ. Gives EPA Chance To Review Good Neighbor Plan

    The U.S. Environmental Protection Agency will have a chance to review its Good Neighbor Plan in-house before litigating it further, according to a D.C. Circuit ruling granting the agency's request to remand the rule, so it could respond to issues raised by the U.S. Supreme Court.

  • September 13, 2024

    Ex-DOJ Deputy In TikTok, Twitter Cases Joins Mayer Brown

    A former leader of the U.S. Department of Justice's consumer protection arm who helped bring landmark privacy cases against TikTok and Twitter is jumping to Mayer Brown LLP, where he will focus on government investigations and enforcement actions.

  • September 13, 2024

    FuboTV Antitrust Trial Against Disney Set For Fall 2025

    FuboTV's antitrust trial against the launch of a new sports streaming service by The Walt Disney Co., Fox Corp. and Warner Bros. Discovery is set to begin Oct. 6 next year, according to a court filing Thursday.

  • September 13, 2024

    Transport Giants Bid To Ax $14B 'Guilt By Association' Claim

    Emirati logistics giant DP World and a major Russian transport company urged a London judge Friday to stop or trim the $14 billion claim against them from an imprisoned Russian oligarch, as they argued that he was making "guilt by association" allegations.

  • September 13, 2024

    Skanska On The Hunt For New Top Atty As GC Departs

    Skanska said Friday that its top attorney is leaving the Stockholm-based construction and development company.

  • September 13, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    Harder-fought and more complex lawsuits may mean double-digit increases in the amount that companies spend on litigation; accuracy remains a top concern for law firms as they increasingly use artificial intelligence technology; and Norfolk Southern Corp. saw a major leadership shakeup after its chief legal officer and CEO engaged in a consensual relationship.

  • September 13, 2024

    Nestlé Can't Ax Danone's Whey Protein Patent At EPO

    Danone has rebuffed a bid by food and drink giant Nestlé to scrap its European patent for a whey protein composition, as it proved that using gum arabic as a sugar substitute was a new invention.

  • September 13, 2024

    Former Y Combinator GC Joins Freshfields In Silicon Valley

    The former general counsel for a well-known startup accelerator that has backed companies including Airbnb, Coinbase, DoorDash and Instacart has jumped to Freshfields and its Silicon Valley office, the law firm announced on Friday.

  • September 13, 2024

    EU Finance Ministers Boycott Hungary Meeting Over Russia

    Most European Union finance ministers protested on Friday against what they see as Hungary's Russia-friendly politics by boycotting a meeting with their EU peers in the country's capital, Budapest.

  • September 13, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen a football agent sue Chelsea FC after being cleared of allegations he threatened the club’s former director, an ongoing patent dispute between Amgen and Regeneron Pharmaceuticals, and a private school in Edinburgh suing Riverstone Insurance over compensation claims tied to historical abuse allegations made by former pupils. Here, Law360 looks at these and other new claims in the U.K.

  • September 13, 2024

    Ex-ABL Space Counsel Jumps To Barnes & Thornburg

    A former Barnes & Thornburg associate is returning to the firm after an in-house stint with space launch service provider ABL Space Systems, but this time as a partner.

  • September 13, 2024

    Ropes & Gray Helps Kohlberg Net $4.3B For 10th PE Fund

    Kohlberg & Co., advised by Ropes & Gray, said Friday it has clinched its 10th flagship fund after raising $4.3 billion from limited partners, with plans to target investments in companies within areas including pharmaceuticals, healthcare and financial and compliance services.

  • September 13, 2024

    Shell Companies Shuttered By Court For £1.6M COVID Fraud

    The High Court has shut down two connected companies that fraudulently received £1.6 million ($2.1 million) in COVID-19 support loans, a U.K. government agency said Friday.

  • September 13, 2024

    HSF-Led National Grid To Sell Supply Unit To Gov't For £630M

    National Grid PLC said Friday that it has agreed to sell its electricity supply system to the U.K. government for £630 million ($827 million), which will bring it into public ownership.

  • September 13, 2024

    UK Consumer Credit Firms Face New Reporting Requirements

    The Financial Conduct Authority has proposed issuing a new reporting obligation for consumer credit firms as it seeks to prevent harm to consumers earlier and avoid another scandal such as the collapse of London Capital & Finance.

  • September 13, 2024

    Brokers Seek Insurance Tax Cut In Budget For At-Risk Housing

    A trade body for insurance brokers has urged the U.K. government to exempt policyholders in apartment buildings with flammable cladding from a tax on premiums, as it seeks to avoid a jump in the price of cover.

  • September 12, 2024

    8th Circ. Nixes $563M Verdict Against BMO Harris Over Ponzi

    The Eighth Circuit on Thursday struck down a $563 million verdict against BMO Harris NA over claims that a bank it acquired had aided and abetted Thomas J. Petters' multibillion dollar Ponzi scheme, ruling that the bank should have been allowed to raise a defense that would have barred the suit in the first place.

  • September 12, 2024

    Wells Fargo Ordered To Overhaul Sanctions, AML Compliance

    Wells Fargo faces fresh restrictions on launching new products and entering new markets, and must beef up its compliance and monitoring efforts around sanctions, anti-money laundering and other international business risks, under an enforcement action announced Thursday by the Office of the Comptroller of the Currency. 

  • September 12, 2024

    2nd Circ. Rejects Another Trump Bid To Halt Hush Money Case

    The Second Circuit on Thursday rejected former President Donald Trump's request for an emergency order pausing his criminal hush money case, citing New York state court Justice Juan M. Merchan's decision to push his sentencing hearing from Sept. 18 until after the election.

  • September 12, 2024

    Corp. Disclosure Law Kills Community Boards, Nonprofits Say

    The Community Associations Institute and other groups have sued the U.S. Department of the Treasury over the Corporate Transparency Act, arguing the law should not apply to them, violates constitutional rights and will lead to mass resignations from their community leadership boards.

Expert Analysis

  • RealPage Suit Shows Growing Algorithm, AI Pricing Scrutiny

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    The U.S. Department of Justice's suit against RealPage for helping fix rental rates, filed last week, demonstrates how the use of algorithmic and artificial intelligence tools to assist with pricing decisions is drawing increasing scrutiny and action across government agencies, and specifically at the Federal Trade Commission and the DOJ, say Andre Geverola and Leah Harrell at Arnold & Porter.

  • Whistleblowers Must Note 5 Key Differences Of DOJ Program

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    The U.S. Department of Justice’s recently unveiled whistleblower awards program diverges in key ways from similar programs at other agencies, and individuals must weigh these differences and look first to programs with stronger, proven protections before blowing the whistle, say Stephen Kohn and Geoff Schweller at Kohn Kohn.

  • The Licensure Landscape For Psychedelics Manufacturers

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    As the need for bulk manufacturing of psychedelic substances grows, organizations aiming to support clinical trials or become commercial suppliers must navigate a rigorous and multifaceted journey to obtaining a license from the U.S. Drug Enforcement Administration, say Kimberly Chew at Husch Blackwell and Jaime Dwight at Promega Corp.

  • What NFL Draft Picks Have In Common With Lateral Law Hires

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    Nearly half of law firm lateral hires leave within a few years — a failure rate that is strikingly similar to the performance of NFL quarterbacks drafted in the first round — in part because evaluators focus too heavily on quantifiable metrics and not enough on a prospect's character traits, says Howard Rosenberg at Baretz+Brunelle.

  • CrowdStrike Incident Highlights Third-Party Risk For Banks

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    The global business disruptions caused by CrowdStrike's faulty software update last month serves as a reminder that banks should assess operational and compliance risks associated with third-party service providers and create resiliency plans extending down to fourth- and fifth-level providers, says Craig Landrum at Jones Walker.

  • Calif. Ruling Clarifying Paystub Compliance Is Win For Cos.

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    In rare good news for California employers, the state Supreme Court recently clarified that workers couldn’t win extra penalties in wage and hour cases by claiming their employer intentionally violated state paystub law if the employer believed it had complied in good faith, say Drei Munar and Kirk Hornbeck at Hunton.

  • Considering Noncompete Strategies After Blocked FTC Ban

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    A Texas district court's recent decision in Ryan v. Federal Trade Commission to set aside the new FTC rule banning noncompetes does away with some immediate compliance obligations, but employers should still review strategies, attend to changes to state laws and monitor ongoing challenges, say attorneys at Baker McKenzie.

  • Open Questions 3 Years After 2nd Circ.'s Fugitive Ruling

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    The Second Circuit’s 2021 decision in U.S. v. Bescond, holding that a French resident indicted abroad did not meet the legal definition of a fugitive, deepened a circuit split on the fugitive disentitlement doctrine, and courts continue to grapple with the doctrine’s reach and applicability, say attorneys at Lankler Siffert.

  • Replacing The Stigma Of Menopause With Law Firm Support

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    A large proportion of the workforce is forced to pull the brakes on their career aspirations because of the taboo surrounding menopause and a lack of consistent support, but law firms can initiate the cultural shift needed by formulating thoughtful workplace policies, says Barbara Hamilton-Bruce at Simmons & Simmons.

  • How DOJ May Change FARA Exemption In Forthcoming Rule

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    Any day now, the U.S. Department of Justice is expected to issue proposed revisions to the Foreign Agents Registration Act regulations, and signs suggest that it will likely narrow one of FARA's broadest exemptions, which may compound public confusion about the law's requirements, says Murad Hussain at Arnold & Porter.

  • Planning Law Firm Content Calendars: What, When, Where

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    During the slower month of August, law firms should begin working on their 2025 content calendars, planning out a content creation and distribution framework that aligns with the firm’s objectives and maintains audience engagement throughout the year, says Jessica Kaplan at Legally Penned.

  • Key Concerns To Confront In FDIC Brokered Deposit Proposal

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    Banks and fintech companies should note several fundamental issues with the Federal Deposit Insurance Corp.'s recent proposal to widen how it classifies brokered deposits, an attempt to limit prudential risk that could expose the industry and underbanked consumers who rely on bank-fintech apps to widespread unintended consequences, say attorneys at Gibson Dunn.

  • What To Expect From Evolving Wash. Development Plans

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    The current round of periodic updates to Washington counties' growth and development plans will need to address new requirements from recent legislation, and will also likely bring changes that should please property owners and developers, says Jami Balint at Seyfarth.

  • Crypto Gatekeepers May Be The Next Front Of Enforcement

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    Lawyers and other professionals who advise cryptocurrency companies should beware regulators' increasing focus on gatekeeper accountability, and should take several measures to fulfill their ethical and legal obligations, including implementing a robust vetting mechanism when representing crypto clients, say Temidayo Aganga-Williams and Xinchen Li at Selendy Gay.

  • Implementing Proposed AML Rules May Take More Guidance

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    Two recent rules proposed by financial regulators would modernize requirements for programs aimed at countering money laundering and terrorist financing by centering more robust risk assessments, but financial institutions may need more specific guidance before they could confidently comply, say Meghann Donahue and Nikhil Gore at Covington.

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