Corporate

  • March 27, 2024

    Coinbase Denied Early Victory Over SEC Enforcement Action

    A Manhattan federal judge on Wednesday rejected crypto exchange Coinbase's bid to defeat the U.S. Securities and Exchange Commission's claims that it operated as an unregistered securities exchange, broker and clearing agency.

  • March 27, 2024

    COVID Prompted Equity Plan Edit, Raytheon Tells Chancery

    Raytheon Technologies Corp. amended employee compensation plans in early 2020 to mitigate "head-spinning unprecedented volatility" from the COVID-19 pandemic, and a shareholder's allegations that directors acted in bad faith by failing to seek stockholder approval should be dismissed, the aerospace company told Delaware's Court of Chancery on Wednesday.

  • March 27, 2024

    Chancery Sides With Cannabis Company On Legal Fees Row

    A Delaware Court of Chancery judge at a Wednesday hearing gave Left Coast Ventures Inc. time to fulfill a court order requiring it to cover legal fees for three former directors of the cannabis company defending a merger-related suit, after a company attorney told the judge the money will be coming.

  • March 27, 2024

    3 Firms Vie To Lead Instacart Pre-IPO Action

    Levi & Korsinsky LLP, Pomerantz LLP and The Rosen Law Firm PA have each asked a California federal judge to lead a securities lawsuit against grocery delivery company Instacart for allegedly misrepresenting its growth potential in the lead-up to its initial public offering.

  • March 27, 2024

    SEC Cyber Enforcement Top Concern For Compliance Pros

    More than 40% of compliance personnel from asset management, investment adviser and private markets firms are concerned about how the U.S. Securities and Exchange Commission will enforce its new cybersecurity rules, according to findings from a recent survey.

  • March 27, 2024

    Ex-GC For Lockheed Martin Space Joins Sherman & Howard

    A former general counsel and longtime attorney at Lockheed Martin has joined Sherman & Howard LLC as co-leader of the aerospace industry group, the law firm said Wednesday.

  • March 27, 2024

    Construction Orgs Call Prevailing Wage Rule Unconstitutional

    Several construction groups said the U.S. Department of Labor is illegally trying to expand the reach of the Davis-Bacon Act with its final rule regulating prevailing wages, urging a Texas federal court to bring the rule to a screeching halt.

  • March 27, 2024

    Calif. High Court Gives Guideposts For What Counts As Work

    The California Supreme Court's decision that a construction contractor must pay workers for the time they spent waiting in their cars to go through a security check before leaving the job site provides guideposts for determining when wages are owed in other scenarios, attorneys told Law360.

  • March 27, 2024

    11th Circ. Affirms Experian's Win In Credit Reporting Suit

    The Eleventh Circuit has determined a district court didn't err in evidentiary rulings in a case brought by a Florida resident against Experian Information Solutions Inc. alleging it inaccurately reported a discharged mortgage in his credit history, upholding a verdict in favor of the company.

  • March 27, 2024

    Smith Gambrell Sued For Keeping $4.6M In Real Estate Row

    Several business entities involved in the failed purchase of a Brooklyn development property contend that Smith Gambrell & Russell LLP is unlawfully refusing to release more than $4.6 million that the firm is holding in escrow, according to a complaint filed in New York state court.

  • March 27, 2024

    Eli Lilly Age Bias Suit Over Promotions Nabs Collective Status

    An age discrimination suit accusing Eli Lilly of passing over older workers for promotions in favor of millennials can move forward as a collective action, an Indiana federal judge ruled, finding thousands of workers may have been affected by the same policy.

  • March 27, 2024

    Everbridge Investor Seeks To Block $1.8B Thoma Bravo Deal

    A shareholder in Massachusetts-based emergency management platform Everbridge Inc. is asking a state court to intervene in a pending $1.8 billion acquisition by private equity firm Thoma Bravo LP, alleging in a Wednesday lawsuit that investors are being misled about the true value of shares and the motives of those promoting the deal.

  • March 27, 2024

    Meta Settles Fired Worker's COVID Vax Religious Bias Suit

    Facebook parent company Meta has agreed to settle a Washington federal suit brought by a former project manager who claimed he was illegally fired after refusing to be vaccinated against COVID-19 because of his religious beliefs.

  • March 27, 2024

    Cannabis Retailer Sues To Revive Union Decertification Bid

    A western Massachusetts cannabis retailer has asked a state court to reinstate an employee's petition to decertify a budding local of the United Food and Commercial Workers Union, which was dismissed by a state labor board following a settlement of separate prohibited practices complaints.

  • March 27, 2024

    Terraform Loses Mistrial Bid After Rakoff Query About 'Lying'

    Manhattan U.S. District Judge Jed S. Rakoff on Wednesday rejected a mistrial bid by counsel for Terraform Labs and creator Do Kwon centering on the judge's move to ask an investor if the bankrupt crypto startup had disclosed potential risks about "lying" to the public.

  • March 26, 2024

    Meta Can't Escape Suit Over Collection Of Taxpayers' Data

    A California federal judge refused to release Meta from a consolidated class action accusing it of unlawfully collecting sensitive information from tax filing websites H&R Block, TaxAct and Tax Slayer, allowing state and federal wiretapping claims to move forward and permitting the plaintiffs to amend several deficient privacy allegations. 

  • March 26, 2024

    Walmart Wins Bid To Ax Capital One Credit Card Agreement

    Walmart can terminate its agreement with Capital One, a New York federal judge ruled Tuesday, agreeing with Walmart that the plain meaning of the contract allows the retail behemoth to ax the agreement if its credit card partner doesn't meet certain customer service standards.

  • March 26, 2024

    Apple Escapes Antitrust Suit Over Crypto On Payment Apps

    A California federal judge on Tuesday tossed with leave to amend a proposed antitrust class action claiming Apple's agreements with Apple Cash competitors illegally limit competition by blocking decentralized cryptocurrency technology, saying the consumers failed to adequately allege standing, among other "problematic" reasons.

  • March 26, 2024

    8th Circ. Urged To Freeze SEC Climate Rules Once More

    An energy company suing the U.S. Securities and Exchange Commission over its recently finalized climate disclosure rules urged the Eighth Circuit on Tuesday to stay the implementation of the rules, after a stay granted by the Fifth Circuit was recently lifted following the consolidation of various related lawsuits.

  • March 26, 2024

    Banker Describes Confidential Work In 'Shadow Trading' Trial

    An Evercore investment banker who worked on Medivation's 2016 sale to Pfizer testified Tuesday in the U.S. Securities and Exchange Commission's novel "shadow trading" trial, saying the defendant was involved in a confidential process that identified biopharma company Incyte as comparable to Medivation — information the defendant is accused of trading on.

  • March 26, 2024

    Meridian Capital Taps Former Top Regulator As New CEO

    Meridian Capital Group announced Tuesday that it has appointed top banking executive and former financial regulator Brian Brooks as its CEO and chairman amid a breakdown in the firm's relationship with Freddie Mac.

  • March 26, 2024

    FCC Urged To Require Unlocked Phones In T-Mobile-Mint Deal

    A collection of public interest groups is asking the Federal Communications Commission to attach new strings to T-Mobile's proposed $1.3 billion purchase of prepaid phone sellers Mint Mobile and Ultra Mobile, including a requirement that the carrier more quickly "unlock" its phones so they can be transferred between service providers.

  • March 26, 2024

    Ally Bank Beats Class Action Over Data Leak For Good

    A New York federal judge has permanently thrown out a proposed class action against Ally Bank that sought to hold it liable for a data leak of customer login information, after finding that the suit still fails to show that the leaked data caused any harm to customers.

  • March 26, 2024

    Texans Change Owners One Month After Son's Suit Dropped

    Daniel Calhoun "Cal" McNair, whose father, Bob, was co-founder and owner of the NFL's Houston Texans until his death in 2018, assumed ownership of the franchise Tuesday from his mother, Janice, following approval from his fellow team owners at their annual league meeting in Orlando.

  • March 26, 2024

    Trailblazing SEC Commissioner Roberta Karmel Dies At 86

    Roberta Karmel, a well-regarded legal scholar who pushed back against early-career sexism to become the U.S. Securities and Exchange Commission's first female commissioner, died over the weekend at the age of 86, according to the law school where she taught for decades.

Expert Analysis

  • Antitrust Enforcers' Views On Info Exchanges Are Evolving

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    As antitrust enforcers' views on information exchanges between competing companies have matured in response to technological advances, companies would do well to reconsider whether the exchanges in which they participate meet the most recent compliance benchmarks, say attorneys at Norton Rose.

  • Infringement Policy Lessons From 4th Circ. Sony Music Ruling

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    The Fourth Circuit's recent decision in Sony Music v. Cox Communications, which in part held that the internet service provider was liable for contributing to music copyright infringement, highlights the importance of reasonable policies to terminate repeat infringers, and provides guidance for litigating claims of secondary liability, say Benjamin Marks and Alexandra Blankman at Weil.

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • Innodata Suit Highlights 'AI Washing' Liability Risk For Cos.

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    A class action against software company Innodata over so-called AI washing, one of the first of its kind, underscores the litigation and enforcement risks that can arise from the U.S. Securities and Exchange Commission's novel theory about misleading artificial intelligence capabilities, say attorneys at Bracewell.

  • For Now, Generative AI Is Risky For Class Action Counsel

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    Although a recent survey showed most in-house counsel think that their outside counsel should be using generative artificial intelligence "in some way" in class action work, the technology is more a target for class actions than it is a tool to be used in practice at present, says Matthew Allen at Carlton Fields.

  • Shaping Speech Policies After NLRB's BLM Protest Ruling

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    After the National Labor Relations Board decided last month that a Home Depot employee was protected by federal labor law when they wore a Black Lives Matter slogan on their apron, employers should consider four questions in order to mitigate legal risks associated with workplace political speech policies, say Louis Cannon and Cassandra Horton at Baker Donelson.

  • The Epic Antitrust Cases And Challenges Of Injunctive Relief

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    The Epic cases against Apple and Google offer a window into the courts' considerable challenges in Big Tech litigation and establishing injunctive relief that enhances competition and benefits consumers, say Kelly Lear Nordby and Jon Tomlin at Ankura Consulting.

  • Banks Should Continue To Prep For CFPB Data Rule Rollout

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    Consumer Financial Protection Bureau-supervised banks should not expect industry pressure to delay the rollout of proposed Section 1033 open banking rules, which regulate how consumer financial information flows between financial institutions, and prepare their required data access portals and compliance procedures now, say attorneys at Troutman Pepper.

  • UMG-TikTok IP Rift Highlights Effective Rights Control Issues

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    Despite Universal Music Group's recent withdrawal of TikTok's licensing rights to its music catalog, the platform struggles to control uploads and reproductions of copyrighted material, highlighting the inherent tension between creative freedom and effective rights control in the age of social media, says Simon Goodbody at Bray & Krais.

  • FERC's Updated Settlement Policy Comes With Risks For Cos.

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    The Federal Energy Regulatory Commission's newly streamlined enforcement settlement policy may increase investigation subjects' regulatory risk, so they should consider measures to protect themselves, such as periodically assessing compliance programs and mitigating any weaknesses, say attorneys at Willkie.

  • Tips For CCOs Submitting Annual Compliance Reports

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    Recent settlement actions by the U.S. Commodity Futures Trading Commission, coupled with statements made by both CFTC and U.S. Securities and Exchange Commission leadership, demonstrate why this year's chief compliance officer annual report filing is no ordinary exercise, and highlight the increasing importance of the report and its usage, say attorneys at Steptoe.

  • Legal Considerations For Circular Economy Strategies

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    As circular economy goals — generating revenue at multiple points in a product's life cycle — become nearly ubiquitous in corporate sustainability practices, companies should reassess existing strategies by focusing on government incentives, regulations, and reporting and disclosure requirements, say Rachel Saltzman and Erin Grisby at Hunton.

  • Decline In Same-Industry M&A Tells A Nuanced Policy Story

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    In light of newly available Hart-Scott-Rodino Act data suggesting that intraindustry mergers are down overall and pharmaceutical and hospital intraindustry transactions tend to face greater antitrust scrutiny than in the past, attorneys at Morgan Lewis explore whether Biden administration enforcement policies may be curbing pro-competitive strategic M&A.

  • SEC's Final Climate Disclosure Rules: What Cos. Must Know

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    While the U.S. Securities and Exchange Commission's scaled-back final rules requiring public companies to disclose certain climate-related information still face challenges in court, companies should begin preparing now to comply with the rules, say Celia Soehner and Erin Martin at Morgan Lewis.

  • Tips For Orgs Facing AI Data Privacy Compliance Challenges

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    Regulators around the world are actively seeking to enforce data privacy and consumer protection laws against companies providing artificial intelligence-related services, raising complex compliance questions in areas like transparency, data minimization, lawfulness of processing, data subject rights and higher risk activities, say attorneys at Hogan Lovells.

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