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Corporate
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April 04, 2024
Arby's, Sonic, Dunkin Settle Mystery Shopper IP Claims
A Texas federal judge has stayed all deadlines in Fall Line Patents LLC's suit that accuses Arby's Restaurant Group Inc., Sonic Franchising LLC and Dunkin Brands Inc. of infringing its mystery shopper patent with their respective mobile applications, after the parties filed a joint bid saying they have settled their claims in principle.
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April 04, 2024
Oracle Gets Wiretap Claim Cut From Data Collection Fight
A California federal judge on Wednesday trimmed a proposed class action alleging Oracle illegally sold internet users' "electronic profiles," finding that new allegations that executive Larry Ellison admitted Oracle's new technology was "scaring the lawyers" aren't enough to show tortious intent to plead a viable Electronic Communications Privacy Act claim.
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April 04, 2024
Huawei Slated For 2026 Sanctions, IP Theft Trial
A Brooklyn federal judge on Thursday set the trial of China's Huawei Technologies and affiliates for 2026, over prosecutors' claims that Huawei deceived banks and the U.S. government for years about its business dealings in sanctioned countries and conspired to steal intellectual property from U.S. companies.
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April 04, 2024
Amazon Union Leaders Accused Of Blowing Up Election Deal
An attorney for Amazon union reformers seeking to force officer elections slammed the current leadership Thursday for trying to blow up their New York federal court deal to hold a vote this summer, calling "absurd" a new argument that the deal disenfranchises members.
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April 04, 2024
Wells Fargo Hit With Del. Suit Targeting Account Abuses
Citing billions of dollars in regulatory agency sanctions, fines and judgments and allegedly chronic disregard of "red flag" reports and fake account investigations, a Wells Fargo & Co. stockholder has sued 23 current and former bank directors and officers in Delaware's Court of Chancery, seeking derivative recoveries for the losses.
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April 04, 2024
NY AG Wants Trump Insurer To Guarantee $175M Bond
New York Attorney General Letitia James asked a Manhattan judge Thursday to make sure the California insurer that agreed to post Donald Trump's $175 million bond in his civil business fraud case can actually pay.
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April 04, 2024
Judge Axes Experts In Chiquita MDL, With More On The Way
A Florida federal judge presiding over a long-running multidistrict litigation against Chiquita Brands rejected expert witnesses offered by both Chiquita and plaintiffs who accuse the banana grower of financially supporting a defunct Colombian paramilitary group that allegedly killed their relatives.
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April 04, 2024
Wash. AG Defends Authority To Block Kroger-Albertsons Deal
The Washington Attorney General's Office has told a state court that a local consumer protection law allows it to bring actions challenging anti-competitive mergers and urged the court to reject contentions from Kroger and Albertsons that the state lacks authority to block a nationwide deal.
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April 04, 2024
Buchanan Taps Procopio Atty As Corporate Leader In Calif.
Buchanan Ingersoll & Rooney PC is expanding its West Coast corporate team with a pair of attorneys from Procopio Cory Hargreaves & Savitch LLP in its San Diego office, one of whom will head the firm's corporate practice in California.
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April 04, 2024
SEC Voluntarily Puts Climate Regs On Ice During Court Battle
The U.S. Securities and Exchange Commission announced Thursday that it is voluntarily delaying the implementation of climate disclosure regulations while it fights an Eighth Circuit challenge seeking to vacate the rules, with the regulator saying that it hopes the voluntary stay will speed resolution of the case.
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April 04, 2024
UK Billionaire Lewis Avoids Prison For Insider Trading
A New York federal judge on Thursday sentenced British billionaire Joe Lewis to three years of probation for feeding his girlfriend and private-jet pilots nonpublic stock tips about his private equity firm's portfolio companies, saying a prison term would put the 87-year-old at "serious risk" of death.
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April 04, 2024
MSG Sports' GC Adds Interim COO, President Titles To Ambit
Madison Square Garden Sports Corp., the company that owns the NBA's New York Knicks and the NHL's New York Rangers, has made its general counsel the interim president and chief operating officer, according to a recent securities filing.
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April 04, 2024
Ex-CEO Reaches Legal Fee Agreement With Trump-Tied SPAC
A Delaware vice chancellor has signed off on an agreement between Donald Trump-tied Digital World Acquisition Corp. and its former CEO to have the venture pay his legal costs related to federal probes and litigation in multiple states.
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April 04, 2024
Top M&A Advisers Of Q1 Include Kirkland, Skadden
Global law firms Kirkland & Ellis LLP, Skadden Arps Slate Meagher & Flom LLP, Goodwin Procter LLP and Wachtell Lipton Rosen & Katz were among the most active legal counsel providers for global mergers and acquisitions in the first quarter of this year, according to a new report from the London Stock Exchange Group.
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April 04, 2024
Chief In-House Counsel Indicted Over Fake Law Firm Invoices
A former chief counsel and compliance officer was charged in Manhattan Wednesday with stealing more than $200,000 by submitting fake law firm invoices to his then-employer, human resources consulting firm Segal Co.
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April 04, 2024
Del. Justices Reverse Chancery On Match.com Deal Fairness
Delaware's Supreme Court on Thursday undid a Chancery Court dismissal of a challenge to Match.com's 2019 reverse-spinoff from Barry Diller-controlled IAC Interactive, in a closely watched case rejecting the lower court's finding that Match had justified the use of a less onerous fairness test.
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April 04, 2024
Mass. Airline Settles With Feds Over Noncompliant Flights
A small Massachusetts commercial jet operator has agreed to settle a civil complaint by the U.S. government alleging it operated more than 1,000 flights without the required Federal Aviation Administration certifications, according to a filing.
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April 04, 2024
Withers Adds Former In-House Corp. Atty In San Francisco
Withers has hired the former in-house general counsel for a financial software company, who joins the firm to continue his practice working with entrepreneurs in the technology, e-commerce and digital publishing industries, the firm announced Wednesday.
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April 03, 2024
Sanofi Plans To Settle 4,000 Zantac Cancer Claims
Sanofi said Wednesday that it has reached an agreement in principle to settle about 4,000 personal injury claims linking the discontinued heartburn drug Zantac to cancer.
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April 03, 2024
Dell Unit Snags $4M In Atty Fees In Computer Module IP Spat
A Massachusetts federal judge has awarded a little over $4 million in attorney fees to Dell Inc. unit EMC Corp. following its win in decadelong litigation accusing it of infringing nearly a dozen computer module patents, according to a decision unsealed Tuesday.
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April 03, 2024
FTC Won't Overlook 'Unanticipated' Harms, Slaughter Says
The Federal Trade Commission won't hesitate to go after companies and their executives that fail to take steps to address the broad range of privacy harms and other risks that can arise from the emergence of new digital technologies, particularly in the wake of a recent federal court ruling that backed this theory, Commissioner Rebecca Kelly Slaughter said Wednesday.
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April 03, 2024
Antitrust Suits Remain Low Despite Slight 2023 Spike
Federal enforcers and private plaintiffs filed more new antitrust cases last year than the year before but the slight uptick still kept 2023 as the second lowest in a decade, according to a new Lex Machina report.
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April 03, 2024
CFPB's Overdraft Plan Is Unlawful Price Control, Banks Say
A Consumer Financial Protection Bureau proposal to curb overdraft fees at large banks is encountering stiff resistance from leading bank industry groups, which say the measure would amount to a backdoor usury cap and potentially unconstitutional price control.
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April 03, 2024
SEC Disclosures Show Public Cos. Backing DEI, Study Finds
Public companies overwhelmingly prioritized diversity, equity and inclusion principles in their mandatory workforce disclosures to the U.S. Securities and Exchange Commission in 2023 despite a flurry of litigation and legislative proposals aimed at deterring those initiatives in the corporate world, a study from Seyfarth Shaw LLP attorneys found.
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April 03, 2024
Accused 'Shadow Trader' Takes Stand To Slam SEC's Case
A former Medivation executive accused of "shadow trading" when he purchased stock in rival Incyte testified in his California federal civil trial Wednesday that he didn't base that decision on confidential information, and he didn't think even "for one second" that he was violating securities laws.
Expert Analysis
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Series
Baking Bread Makes Me A Better Lawyer
After many years practicing law, and a few years baking bread, I have learned that there are a few keys to success in both endeavors, including the assembly of a nourishing and resilient culture, and the ability to learn from failure and exercise patience, says Rick Robinson at Reed Smith.
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Federal Courts And AI Standing Orders: Safety Or Overkill?
Several district court judges have issued standing orders regulating the use of artificial intelligence in their courts, but courts should consider following ordinary notice and comment procedures before implementing sweeping mandates that could be unnecessarily burdensome and counterproductive, say attorneys at Curtis.
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The 5 Most Important Bid Protest Decisions Of 2023
Attorneys at Bradley Arant discuss noteworthy 2023 bid protest decisions from the U.S. Court of Federal Claims and U.S. Government Accountability Office, offering perspectives on standing, document production, agency deference, System for Award Management registration requirements and mentor-protégé joint venture proposal evaluations.
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Series
NY Banking Brief: All The Notable Legal Updates In Q4
New York's banking and financial sector saw a number of notable regulatory and legislative changes in the final quarter of 2023, including guidance on climate risks and heightened cybersecurity protocols issued by the New York State Department of Financial Services, as well as final revisions to virtual currency listings in the state, say attorneys at WilmerHale.
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Wachtell-X Ruling Highlights Trend On Arbitrability Question
A growing body of case law, including a California state court's recent decision in X Corp. v. Wachtell, holds that incorporation of specific arbitral body rules in an arbitration provision may in and of itself constitute clear and unmistakable evidence of delegation of arbitrability to an arbitrator, and thus such clauses should be drafted carefully, say attorneys at Norton Rose.
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7 E-Discovery Predictions For 2024 And Beyond
The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.
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Securities Class Actions Show No Signs of Slowing In 2024
Plaintiffs asserted securities class actions at elevated levels in 2023 — a sign that filings will remain high in the year ahead — as they switched gears to target companies that allegedly have failed to anticipate supply chain disruptions, persistent inflation, rising interest rates and other macroeconomic headwinds, say attorneys at Skadden.
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Landmark Product Safety Prosecution May Signal Sea Change
U.S. v. Chu, a novel prosecution and guilty verdict of corporate executives for failing to report product defects under a consumer safety law, will certainly not be the last case of its kind, and companies will need to prepare for the government’s increasingly aggressive enforcement approach, say attorneys at Cooley.
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How Corp. Transparency Act Can Unmask Crypto Owners
With the federal Corporate Transparency Act in effect as of Jan. 1, litigants may now have a less burdensome path toward determining the identities of owners behind convoluted corporate entities, and, by extension, any digital assets they own that could be subject to a potential judgment, says Brett Sager at Ehrenstein Sager.
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6 Focus Areas For Companies Managing The Risks Of AI Use
To harness the significant and potentially transformative benefits that generative artificial intelligence can confer, companies must establish appropriate oversight and governance, ensure appropriate disclosures, and resolve other regulatory and legal challenges arising from deployment, say attorneys at Shearman.
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ESG Concerns Can No Longer Be Ignored In 2024
While the long wait for the U.S. Securities and Exchange Commission's ESG rule continues, government attention to regulations, increased litigation efforts and shareholder resolutions seeking transparency highlight the importance of placing an emphasis on ESG considerations, say attorneys at Wollmuth Maher.
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2 FCPA Settlements Illuminate Self-Disclosure, Disgorgement
Two of last year’s Foreign Corrupt Practices Act settlements — with biomedical company Lifecore and mining company Corsa Coal — suggest that the government will be much more flexible in negotiating disgorgement amounts if an entity voluntarily self-discloses misconduct, say Michael Gilbert and Lucas Amodio at Sheppard Mullin.
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CFPB As Pay App Watchdog May Invite More Fintech Regs
While the Consumer Financial Protection Bureau's recent proposal to enhance federal oversight of the biggest consumer payment applications would impose no new regulatory obligations, the rulemaking could provoke heightened scrutiny for all participants in the digital payments market, say attorneys at Steptoe.
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Opinion
Anti-Kickback Statute Does Not Require But-For Causation
A proper interpretation of the Anti-Kickback Statute clearly indicates that but-for causation is not required for False Claims Act Liability, and courts that hold otherwise will make it significantly easier for fraudsters to avoid accountability, says Kenneth Capesius at Baron & Budd.
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Opinion
Conflicts Abound When Activist Short-Sellers Publish Reports
The self-serving relationship between activist short-sellers and plaintiff-side litigators is conflict-ridden and hinders the fact finder's impartiality when a short report forms the basis for lead plaintiffs' allegations, say Nessim Mezrahi and Stephen Sigrist at SAR.