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Corporate
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May 08, 2025
5th Circ. Wipes Out Southwest Attys' Religious Training Order
The Fifth Circuit on Thursday held that a lower court overstepped by ordering several in-house Southwest Airlines attorneys to undergo "religious liberty training" following a flight attendant's win in a wrongful termination suit, finding that the training wouldn't benefit the flight attendant or persuade Southwest to comply with an earlier order.
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May 08, 2025
Celsius Founder Gets 12 Years For Massive Crypto Fraud
The founder and former CEO of defunct Celsius Network on Thursday was sentenced to 12 years in prison for deceiving customers about the crypto lender's profitability and business practices, and falsely inflating the price of the platform's native token, CEL.
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May 08, 2025
Del. Justices Uphold Chancery Toss Of AMC Meme Stock Suit
A long-running meme stock saga that saw common and preferred stockholders battle AMC Entertainment in Delaware's Court of Chancery over a preferred equity conversion plan ended quietly Thursday with a state Supreme Court refusal to disturb a vice chancellor's dismissal of a final settlement dispute.
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May 08, 2025
CEO Stole Funds To Fuel 'Gambling Habit', Investor Says
An investor in a cybersecurity company has claimed in a new suit that the company's CEO defrauded the investor out of more than $2.8 million through falsified budgets and other means, all to support a "lavish" lifestyle and "severe gambling habit."
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May 08, 2025
Ex-Binance CEO Says He's Asked Trump Admin For A Pardon
Binance founder Changpeng Zhao said he has applied for a pardon from the Trump administration in the wake of a four-month prison term he served as part of a historic plea deal over the cryptocurrency exchange's anti-money laundering failures.
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May 08, 2025
Schwan's Moves To Block Conagra's Late Expert Reports
Schwan's has urged a Minnesota federal judge to throw out late-stage expert testimony and documents introduced by Conagra Brands in a trade secrets lawsuit over the company's hiring of a former Schwan's scientist, saying that its food business rival engaged in "trial by ambush" by unveiling new damages theories and evidence after the close of discovery.
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May 08, 2025
Ruling Over Expired Bard Patent Causes Split, Justices Told
Atrium Medical has asked the U.S. Supreme Court to review a Ninth Circuit ruling that revived a $53 million breach of contract lawsuit against it by C.R. Bard, saying the appeals court "takes a dramatically different approach" from other circuits on royalty payments.
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May 08, 2025
Capital One Wants Trump Entities' 'De-Banking' Suit Tossed
Capital One urged a Florida federal court to dismiss a lawsuit by President Donald Trump's revocable trust and Eric Trump claiming the bank illegally canceled hundreds of Trump-affiliated accounts in the aftermath of the Jan. 6, 2021, attacks on the U.S. Capitol, arguing the complaint does not show the accounts were closed for political reasons.
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May 08, 2025
Ticketmaster Asks Justices To Protect 'Alternative' Arbitration
Live Nation and Ticketmaster have asked the U.S. Supreme Court to clarify whether a federal law requires courts to enforce only traditional arbitration arrangements Congress envisioned when the law was enacted a century ago, or also "alternative" agreements drafted more recently to process mass arbitration.
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May 08, 2025
Judge Says No French Connection In L'Oreal Hair Relaxer MDL
An Illinois federal judge has dismissed L'Oréal USA Inc.'s French parent company from multidistrict litigation alleging it and other companies' hair relaxer products can cause health problems, finding the company doesn't have sufficient connections to the U.S. for the court to have jurisdiction.
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May 08, 2025
No 'Clean Slate' For Samsung After Epic's Win Against Google
A California federal judge overseeing Epic Games' lawsuit alleging Samsung and Google colluded to dodge an injunction related to Google's Play Store warned the parties on Thursday that he won't completely ignore jury findings in a similar case that Epic won against Google, noting that "we're not writing on a clean slate."
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May 08, 2025
Google Payment Unit Ends Suit As CFPB Nixes Oversight Plan
Google Payment Corp. disclosed Thursday that the Consumer Financial Protection Bureau has agreed to drop Biden-era plans to supervise the tech giant's payment arm, leading the company to drop its suit against the regulator.
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May 08, 2025
WeightWatchers To Seek OK For Equity Swap Ch. 11 In June
WeightWatchers expects it will be able to set aside some equity in a reorganized company for existing stockholders while cutting $1.15 billion in debt under a Chapter 11 plan that is scheduled for a confirmation hearing in June, the debtor told a Delaware bankruptcy judge on Thursday.
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May 08, 2025
Hikma Cuts $50M Deal To End Antitrust Claims In Xyrem MDL
A certified class of Xyrem buyers in 36 states have asked a California federal judge to preliminarily approve Hikma Pharmaceuticals PLC's $50 million deal to resolve antitrust claims accusing Hikma of colluding with rival Jazz Pharmaceuticals to block generic rivals from competing with Jazz's narcolepsy drug.
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May 08, 2025
Musk Objects To New Job For SEC's Former Litigation Chief
Elon Musk is opposing a move by plaintiff-side firm Bernstein Litowitz Berger & Grossmann LLP to hire the U.S. Securities and Exchange Commission's former chief litigation counsel, arguing in a court filing that the lawyer "played a personal and substantial role" in suing Musk while at the SEC.
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May 08, 2025
Apple Asks 9th Circ. To Pause New App Store Injunction
Apple has asked the Ninth Circuit to pause parts of a California federal court's new injunction mandating changes to its App Store policies, issued after finding Apple violated a previous order, saying the "punitive" measures force it to give away free access to its products.
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May 08, 2025
Ind. Allows Credit For Taxes Paid On Behalf Of Pass-Throughs
Indiana authorized electing pass-through entities to claim a credit for taxes paid on their behalf under a bill signed by the governor.
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May 08, 2025
Biotech Tells Chancery Drug Co. Abused Merger Prospects
Biotech venture Renovaro Inc. sued cancer-focused, artificial intelligence-assisted drug developer Predictive Oncology Inc. in Delaware's Court of Chancery on Thursday, accusing Predictive of walking away from a merger agreement after its standalone prospects improved upon announcement of the deal.
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May 08, 2025
SEC's Peirce Outlines Path To Exempt Tokenized Securities
The U.S. Securities and Exchange Commission's Hester Peirce on Thursday endorsed the creation of "regulatory sandboxes" that would encourage companies to develop trading systems for tokenized securities, enabling them to experiment with new technologies without certain registration requirements that govern stock exchanges.
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May 08, 2025
Elizabeth Holmes Loses Bid For Full 9th Circ. Rehearing
The Ninth Circuit said Thursday it will not reconsider a panel decision refusing to throw out the conviction and 11-year prison sentence of Theranos Inc. founder Elizabeth Holmes.
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May 08, 2025
SafeMoon Fraud Turned Me Into A 'Monster,' Key Witness Says
A former SafeMoon developer told a Brooklyn federal jury Thursday that his "moral compass was skewed" by corruption at the cryptocurrency outfit, as he blamed the company's CEO for allegedly conspiring to loot the company.
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May 08, 2025
Wilson Sonsini M&A Ace Moves To Cooley In Silicon Valley
Cooley LLP is growing its transactions team, announcing Thursday that it is bringing in a Wilson Sonsini Goodrich & Rosati PC mergers and acquisitions pro as a partner in its Silicon Valley office in Palo Alto, California.
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May 08, 2025
Buffalo Wild Wings Job Apps Violate Ill. Privacy Law, Suit Says
Buffalo Wild Wings and its corporate parent have been hit with a proposed class action from two Illinois residents alleging the chain is violating a state privacy law by probing applicants' family medical histories as part of its employment considerations.
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May 08, 2025
McDermott Recruits Ex-Kirkland Transactions Ace
An attorney specializing in capital markets transactions and securities has recently moved his practice to McDermott Will & Emery LLP's Chicago office after more than four and a half years with Kirkland & Ellis LLP.
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May 08, 2025
TGI Fridays In-House Atty Rejoins Haynes Boone In Dallas
Haynes Boone announced Thursday that it has rehired an attorney who previously worked for the firm's trademark and advertising practice group, before leaving to do in-house work for Yum Brands and TGI Fridays, to enhance its brand strategy and management services.
Expert Analysis
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Series
Collecting Rare Books Makes Me A Better Lawyer
My collection of rare books includes several written or owned by prominent lawyers from early U.S. history, and immersing myself in their stories helps me feel a deeper connection to my legal practice and its purpose, says Douglas Brown at Manatt Health.
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Preparing For Stricter Anti-Boycott Enforcement Under Trump
Given the complexity of U.S. anti-boycott regulations and the likelihood of stepped-up enforcement under the new administration, companies should consider adopting risk-based anti-boycott compliance programs that include training employees to recognize and assess potential boycott requests, and to report them expeditiously when necessary, say attorneys at Debevoise.
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Opinion
New DOJ Leaders Should Curb Ill-Conceived Prosecutions
First-of-their-kind cases have seemingly led to a string of overly aggressive prosecutions in recent years, so newly sworn-in leaders of the U.S. Department of Justice should consider creating reporting channels to stop unwise prosecutions before they snowball, says Jonathan Porter at Husch Blackwell.
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Rethinking How To Engage Shareholders, Activists Via Proxies
This proxy season, companies should consider visually driven proxy statements that highlight the board's strengths, the alignment between executive compensation and performance, and a commitment to sustainability and risk management to earn the support of investors and fend off hostile acquirers, say Craig Clay and Ron Schneider at DFIN.
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Tips For Pharma-Biotech Overlap Reporting In New HSR Form
While there’s no secret recipe for reporting overlaps to the Federal Trade Commission in the new Hart-Scott-Rodino Act form, there are several layers of considerations for all pharma-biotech companies and counsel to reflect on internally before reporting on any deal, say attorneys at A&O Shearman.
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Opinion
Judge Should Not Have Been Reprimanded For Alito Essay
Senior U.S. District Judge Michael Ponsor's New York Times essay critiquing Supreme Court Justice Samuel Alito for potential ethical violations absolutely cannot be construed as conduct prejudicial to the administration of the business of the courts, says Ashley London at the Thomas R. Kline School of Law of Duquesne University.
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What Day 1 Bondi Memos Mean For Corporate Compliance
After Attorney General Pam Bondi’s flurry of memos last week declaring new enforcement priorities on issues ranging from foreign bribery to diversity initiatives, companies must base their compliance programs on an understanding of their own core values and principles, says Hui Chen at CDE Advisors.
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Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example
Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
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Steel Cases Test Executive Authority, Judicial Scope
Lawsuits challenging former President Joe Biden’s order blocking the merger of Japan's Nippon Steel and U.S. Steel may shape how future administrations wield presidential authority over foreign investment in the name of national security, says Hdeel Abdelhady at MassPoint Legal.
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5 Things For Private Employers To Do After Trump's DEI Order
Following President Donald Trump's recent executive order pushing the private sector to narrow, and even end, diversity, equity and inclusion initiatives, employers should ensure DEI efforts align with their organization's mission and goals, are legally compliant, and are effectively communicated to stakeholders, say attorneys at Mintz.
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3 Ways Trump Can Nix SEC's Climate Disclosure Rules
Given President Donald Trump's campaign statements and agency appointments, it's likely that his administration will try to annul the U.S. Securities and Exchange Commission's climate disclosure rules, but his options for doing so present unique opportunities and challenges, with varying levels of permanence and impact, say attorneys at DLA Piper.
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Del. Ruling Further Narrows Scope Of 'Bump-Up' Exclusion
The recent Delaware Superior Court ruling in Harman International v. Illinois National Insurance offers a critical framework for interpreting bump-up exclusions in management liability insurance policies, and follows the case law trend of narrow interpretation of such exclusions, says Simone Haugen at Tressler.
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Will 4th Time Be A Charm For NY's 21st Century Antitrust Act?
New York's recently introduced 21st Century Antitrust Act would change the landscape of antitrust enforcement in the state and probably result in a sharp increase in claims — but first, the bill needs to gain traction after three aborted attempts, says Tyler Ross at Shinder Cantor.
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Perspectives
Accountant-Owned Law Firms Could Blur Ethical Lines
KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.
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Foreign Trade Zones Can Help Cos. With Tariff Exposure
Companies navigating shifts in global trade — like the Trump administration’s newly levied tariffs on Chinese goods — should consider whether the U.S. Department of Commerce's poorly understood foreign trade zone program could help reduce their import costs, says James Grogan at FTI Consulting.