Expert Analysis

• Musk-OpenAI Verdict Shows Value Of Early-Stage Governance

  

  A California federal court's ruling last week in Musk v. Altman preserves the status quo at OpenAI, but signals to the technology industry at large that courts will not relitigate the governance decisions of early-stage organizations on a founder's competitive timetable, surfacing questions that will outlast the litigation, says attorney Alan N. Walter.

• Visa's Agentic Payment Rules Expose Compliance Tensions

  

  Visa's recently released framework clarifying how payments driven by artificial intelligence can occur without consumer-merchant interaction exposes compliance risks under disclosure and fee transparency laws that may require merchants and payment providers to rethink consumer protection as agentic commerce expands, say attorneys at Stinson.

• How SEC, CFTC Proposal Would Ease Private Fund Reporting

  

  While the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission’s recent proposal to streamline and lighten certain confidential reporting requirements could bring welcome changes for many private fund advisers, sponsors should consider important nuances of its potential impact, say attorneys at Simpson Thacher.

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  Studying Foreign Languages Makes Me A Better Lawyer

  

  Studying Italian and Japanese has shown me that learning a new language can benefit a legal career in several ways, including by demonstrating the importance of approaching problems from a fresh perspective and the value of practicing patience with colleagues and clients, says Anna King at Genworth Financial.

• Mortgage Co. Ruling Shows Risks Of Broad Noncompetes

  

  The Federal Trade Commission and a Pennsylvania state court recently took actions against Mortgage Connect that demonstrate that overbroad noncompetes may not be worth the regulatory trouble they invite, especially amid heightened federal scrutiny, proliferating state restrictions and increasingly skeptical courts, say attorneys at A&O Shearman.

• Sold Inventory May Drive Tax Treatment Of Tariff Refunds

  

  Companies determining the tax treatment of refunds expected following the U.S. Supreme Court's February decision invalidating tariffs imposed under the International Emergency Economic Powers Act should consider whether the tariff costs have already reduced their income considering the cost of goods sold, say attorneys at McDermott.

• And Now A Word From The Panel: An MDL Realignment

  

  With seven multidistrict litigation proceedings initiated so far this year, a review of venue locations suggests a shift away from the East Coast, a seeming reversal of last year's swing in that direction, says Alan Rothman at Sidley.

• How The High Court Expanded Freight Broker Liability

  

  After the U.S. Supreme Court's decision in Montgomery v. Caribe Transport II that freight brokers may be liable for selecting unsafe motor carriers, the key question will be whether brokers used reasonable care in selecting a given motor carrier, with the concurring opinion offering some clues as to what reasonable care might look like, says Marc Blubaugh at Benesch.

• Treasury Proposal Maps Compliance Road For Stablecoins

  

  Stablecoin issuers should prepare for bank-style anti-money laundering and sanctions obligations under, and consider submitting comments on, the Treasury Department's proposed Genius Act rules, which are reshaping compliance expectations for digital asset businesses and affiliated financial institutions alike, say attorneys at Arnold & Porter.

• Adapting To AI-Driven Scrutiny Of Foreign Asset Disclosures

  

  As the government expands AI-driven, cross-agency fraud detection, foreign asset disclosure should be viewed as part of a broader, data‑driven enforcement ecosystem that prioritizes consistency, documentation and proactive governance, says Logan Koehring at FBT Gibbons.

• 2nd Circ.'s Cantero Redo Complicates Mortgage Escrow Issue

  

  The Second Circuit's recent decision in Cantero v. Bank of America reflects the absence of definitiveness in mortgage escrow preemption jurisprudence, leaving lenders to navigate conflicting state rules and pricing challenges amid a deepening circuit split, say attorneys at Sullivan & Cromwell.

• DOJ Activity Indicates Rising Antitrust Risk For Hospitals

  

  Two civil actions filed by the U.S. Department of Justice against New York-Presbyterian Hospital and OhioHealth, both alleging that the hospital systems used their market power to stifle competition, highlight the government's growing scrutiny of barriers to lower-cost insurance options, say attorneys at Freshfields.

• SEC Enforcement Has Continued Its Asset Management Focus

  

  While the total number of U.S. Securities and Exchange Commission enforcement actions is down, certain novel theories of liability have been abandoned, and the SEC has embraced a back-to-basics posture, most of the regulatory risks for asset managers that existed in the prior commission have not gone away, say attorneys at Weil.

• 5 Risks For US Cos. From New EU Product Liability Directive

  

  When the European Union's revised Product Liability Directive takes effect this year, it will fundamentally reshape product liability litigation across all EU member states — so U.S.-based companies operating in Europe should prepare now for broader discovery rules, narrower attorney-client privilege and heightened forum-shopping risks, say attorneys at DLA Piper.

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  NY Times Word Puzzles Make Me A Better Lawyer

  

  Every morning I let The New York Times humble me with word games, which offer a chance to recalibrate my brain before the day's chaos arrives and remind me that a solution — whether to a puzzle or employment law issue — almost always exists once I find the right angle, says Amy Epstein Gluck at Pierson Ferdinand.