Corporate

  • September 19, 2024

    Macquarie Unit To Pay $80M To End SEC's Overvaluation Claims

    A subsidiary of Australian financial services company Macquarie Group Ltd. agreed Thursday to pay the U.S. Securities and Exchange Commission nearly $80 million to settle charges it overvalued largely illiquid mortgage-backed securities and carried out cross-trades that favored certain clients over others.

  • September 19, 2024

    Amazon, Bezos Deny Blue Origin Deal Challenges In Del.

    An Amazon.com stockholder suit seeking damages from the e-commerce giant for purportedly conflicted dealing with company founder Jeff Bezos' Blue Origin space launch business can't get off the ground in Delaware's Court of Chancery, attorneys for the Amazon parties argued in a new brief filed late Wednesday.

  • September 19, 2024

    Quinn Emanuel Challenges Oro Negro Execs' Discovery Bid

    Quinn Emanuel Urquhart & Sullivan LLP is pushing back against a bid for firm documents from its former client, Oro Negro Drilling Pte. Ltd., saying the company that provides oil services in Mexico and its subsidiaries are "weaponizing" the firm's party status to gain a tactical advantage in related legal battles.

  • September 19, 2024

    No Coverage For Santander Shareholder Suit, Allianz Says

    Allianz told a Massachusetts federal court that it doesn't owe coverage to Santander Holdings for an underlying class action brought by shareholders over the company's $2.5 billion deal to take its consumer finance entity private, arguing that multiple exclusions bar coverage for claims arising from the transaction.

  • September 19, 2024

    AT&T Exec's Bribery Trial Ends With Hung Jury

    An Illinois federal judge declared a mistrial in a key corruption case after jurors told him twice Thursday they could not reach a unanimous verdict on any of the charges against an AT&T executive accused of illegally influencing former Illinois House speaker Michael Madigan.

  • September 19, 2024

    Pro Volleyball League's Founders Claim Buyers Shorted Them

    The co-founders of the Pro Volleyball Federation, a women's professional volleyball league, are seeking at least $500,000 in damages in a new suit that alleges they haven't been paid by several team owners in the league who formed an entity to buy the co-founders' Class A shares of the federation for $1 million.

  • September 19, 2024

    Pink Floyd, NFL And PE Take Limelight In Latest Deal Rumors

    Sony Music could be on the verge of paying roughly $500 million for the rights to music recorded by Pink Floyd, and NFL teams including the Miami Dolphins and Los Angeles Chargers are exploring options to sell stakes to private equity firms. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • September 19, 2024

    Nine Countries Sign Treaty For OECD Min. Tax On Payments

    Indonesia, Turkey, Congo and six other countries signed a multilateral treaty aimed at implementing a 9% minimum tax on income sent from their jurisdictions to low-taxed entities within a corporate group, the OECD said Thursday.

  • September 19, 2024

    Apple Ruling Prompts EU Lawmakers To Call For Tax Justice

    Citing the recent European court judgment requiring Apple to pay €13 billion ($14.5 billion) in taxes to Ireland, European Union lawmakers demanded Thursday that the fight against tax evasion and for corporate tax harmonization be stepped up.

  • September 19, 2024

    Insurers Wrestle With 'Cyberwar' Policy Exclusions

    The evolving cyberinsurance market could be heading for a seismic shift if more insurers scale back standard business IT breach policies to limit the impact of state-backed cyberattacks on their bottom line.

  • September 18, 2024

    Google Judge Wonders: Does Ad Tech Benefit Publishers?

    The Virginia federal judge weighing the fate of Google's display advertising placement business zeroed in Wednesday on a key aspect of the search giant's defense against a Justice Department monopolization suit — the assertion that even if company practices disadvantaged rival ad exchanges, they benefited publishers.

  • September 18, 2024

    AI Musician Denies Purported $10M Streaming Scam

    A North Carolina man facing a novel fraud case alleging he used artificial intelligence on platforms like Apple Music, Spotify and YouTube to generate around $10 million in illegal revenues denied wrongdoing at his initial court appearance Wednesday in New York.

  • September 18, 2024

    CVS Unit Pays $60M Over Alleged Insurance Kickback Scheme

    CVS Health subsidiary Oak Street will pay $60 million to settle allegations it violated the False Claims Act by paying illegal kickbacks to third-party insurers in return for scouting and inducing Medicare and Medicaid beneficiaries to enroll in its primary care clinics, the U.S. Department of Justice announced Wednesday.

  • September 18, 2024

    7th Circ. Questions Nixing $183M Eli Lilly Drug Rebate Verdict

    A Seventh Circuit judge seemed unsure Wednesday whether to disturb a $183 million verdict against Eli Lilly in a false claims case targeting more than a decade of drug rebate miscalculations, questioning whether the company skipped checking legal guidance before calling its price reporting requirements unclear.

  • September 18, 2024

    FBI Dismantles Chinese Botnet, Urges Victims To Seek Aid

    FBI Director Christopher Wray announced Wednesday that the law enforcement agency has knocked out a botnet operated by a Chinese government-sponsored hacker group that was stealing confidential data by infecting internet-connected devices.

  • September 18, 2024

    Stonewalling Justifies Cab Co. Atty's Deposition, Court Rules

    A Florida appeals court ruled Wednesday that counsel for Yellow Cab Co. can be deposed after the company's president stonewalled a personal injury plaintiff by answering "I have no idea" to virtually every question at his deposition, saying "exceptional circumstances" warrant the second deposition.

  • September 18, 2024

    Wynn Resorts To Pay Investors $70M Over Misconduct Claims

    Wynn Resorts, its former CEO Stephen Wynn and others have reached a $70 million settlement in Nevada federal court to end an investor class action accusing the hotel and casino giant of deceiving shareholders by covering up allegations of Wynn's sexual misconduct, according to a Tuesday filing.

  • September 18, 2024

    SEC Must Clarify Murky Crypto Rules, Ex-Officials Tell House

    Two former U.S. Securities and Exchange Commission officials who now represent crypto businesses told House lawmakers Wednesday that the agency's insistence on analyzing the economic realities of every crypto transaction in lieu of clear rulemaking has put the sector and its attorneys in unworkable situations.

  • September 18, 2024

    FTX Auditor Prager Metis Settles SEC Charges For Negligence

    The former auditor of Sam Bankman-Fried's defunct cryptocurrency exchange FTX agreed Tuesday to pay $1.95 million to resolve allegations by the U.S. Securities and Exchange Commission of misconduct in FTX audits and, in a separate case, violations of auditor independence rules.

  • September 18, 2024

    Loper Bright Undercuts SEC Climate Rule, Fracking Cos. Say

    Two fracking companies suing the U.S. Securities and Exchange Commission over its climate disclosure rules have again urged the Eighth Circuit to vacate the measures, offering a diverging interpretation of how the U.S. Supreme Court's decision axing Chevron deference should apply.

  • September 18, 2024

    Fed. Circ. Revives Astellas Patent Axed As Natural Law

    The Federal Circuit on Wednesday vacated a lower court's invalidation of an Astellas Pharma overactive bladder medication patent for claiming only a natural law, saying the holding was improper because the generics makers accused of infringement never made that argument.

  • September 18, 2024

    SEC Files Its 1st Suits Over 'Pig Butchering' Crypto Scams

    The U.S. Securities and Exchange Commission has filed two first-of-their-kind suits against a series of entities and individuals behind a pair of so-called pig butchering schemes that allegedly solicited investments in fake crypto platforms by gaining people's trust over social media only to scam them out of nearly $3 million.

  • September 18, 2024

    $24.5M Fee Sought In Del. For $125M Discovery Suit Deal

    Class attorneys who secured a proposed $125 million settlement in a Delaware Court of Chancery suit filed by former Discovery Inc. stockholders challenging the company's $43 billion merger with AT&T in April 2022 proposed a $24.5 million fee for their efforts Wednesday.

  • September 18, 2024

    USPTO Makes Patent Amendment Program Permanent

    The U.S. Patent and Trademark Office on Wednesday made permanent a pilot program that assists patent owners seeking to amend patent claims in America Invents Act reviews by providing preliminary feedback about proposed changes.

  • September 18, 2024

    Gov't Lifeline Gives Nippon A Fighting Chance On US Steel

    The Biden administration has indicated it's poised to block Nippon Steel from proceeding with a controversial $14.9 billion acquisition of U.S. Steel, but the government is reportedly giving the Japanese steelmaker an additional 90 days to prove its case, a development that should give Nippon hope it can get the deal done, attorneys say.

Expert Analysis

  • Series

    After Chevron: SEC Climate And ESG Rules Likely Doomed

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    Under the U.S. Supreme Court's recent decision in Loper Bright, without agency deference, the U.S. Securities and Exchange Commission's climate disclosure and environmental, social and governance rules would likely be found lacking in statutory support and vacated by the courts, says Justin Chretien at Carlton Fields.

  • Assessing Whether Jarkesy May Limit FINRA Prosecutions

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    The U.S. Supreme Court’s recent decision in Jarkesy v. U.S. Securities and Exchange Commission, holding that civil securities fraud defendants are entitled to jury trials, may cause unpredictable results when applied to Financial Industry Regulatory Authority prosecutions, say Barry Temkin and Kate DiGeronimo at Mound Cotton.

  • Examining Patent Subject Matter Eligibility Of AI Inventions

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    In light of U.S. Patent and Trademark Office data showing that patent applications for artificial intelligence inventions are likelier to get rejected based on patent-ineligible subject matter, inventors seeking protection should be aware of the difficulties and challenges pertaining to patent eligibility, say Georgios Effraimidis at NERA and Joel Lehrer at Goodwin.

  • Series

    Being An Opera Singer Made Me A Better Lawyer

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    My journey from the stage to the courtroom has shown that the skills I honed as an opera singer – punctuality, memorization, creativity and more – have all played a vital role in my success as an attorney, says Gerard D'Emilio at GableGotwals.

  • Amid SEC Rule Limbo, US Cos. Subject To ESG Regs In EU

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    Though the U.S. Securities and Exchange Commission is facing legal challenges to its climate-disclosure rulemaking, the implementation of the Corporate Sustainability Reporting Directive in the European Union will force U.S. companies to comply with exactly the kinds of ESG disclosures that are not yet mandated in the U.S., say attorneys at Squire Patton.

  • Pros, Cons Of Disclosing Improper Employee Retention Credit

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    Employers considering the Internal Revenue Service’s second voluntary disclosure program, which allows companies to avoid penalties for erroneously claiming employee retention credits for the 2021 tax year by repaying the credits and naming the tax advisers who encouraged these abusive practices, should carefully weigh the program’s benefits against its potential drawbacks, say attorneys at Winston & Strawn.

  • How Law Firms Can Avoid 'Collaboration Drag'

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    Law firm decision making can be stifled by “collaboration drag” — characterized by too many pointless meetings, too much peer feedback and too little dissent — but a few strategies can help stakeholders improve decision-making processes and build consensus, says Steve Groom at Miles Mediation.

  • Election Outlook: A Precedent Primer On Content Moderation

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    With the 2024 election season now in full swing, online platforms will face difficult and politically sensitive decisions about content moderation, but U.S. Supreme Court decisions from last term offer much-needed certainty about their rights, say Jonathan Blavin and Helen White at Munger Tolles.

  • 6 Considerations To Determine If A Cyber Incident Is Material

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    The U.S. Securities and Exchange Commission's recent guidance on material cybersecurity incidents covers a range of ransomware scenarios, from a company paying a sum and regaining operations to recovering payment via cyberinsurance, but makes it clear that no single factor determines whether a cybersecurity incident is material, say attorneys at Troutman Pepper.

  • How Anti-DEI Bill Could Affect Employers' Diversity Efforts

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    Sen. J.D. Vance's recently introduced Dismantle DEI Act would substantially limit employers’ ability to implement and promote workplace diversity, equity and inclusion, but there are still steps employers can take to support a diverse workforce, says Peter Ennis at Cozen O’Connor.

  • Opinion

    Litigation Funding Disclosure Key To Open, Impartial Process

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    Blanket investor and funding agreement disclosures should be required in all civil cases where the investor has a financial interest in the outcome in order to address issues ranging from potential conflicts of interest to national security concerns, says Bob Goodlatte, former U.S. House Representative for Virginia.

  • Series

    After Chevron: What To Expect In Consumer Protection At FTC

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    Although the Federal Trade Commission's bread-and-butter consumer protection law enforcement actions are unlikely to be affected, the Loper Bright decision may curb the FTC's bolder interpretations of the statutes it enforces, says Mary Engle at BBB National Programs.

  • Comparing 5 Administrators' Mass Arbitration Procedures

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    Attorneys at DLA Piper compare the rules for mass arbitrations at five different arbitration providers — Judicial Arbitration and Mediation Services, American Arbitration Association, National Arbitration and Mediation, FedArb and New Era ADR — including their triggers, claim screening procedures, how and when they assess fees, and more.

  • 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.

  • 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.

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