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Corporate
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April 01, 2024
Swedish Match Sued Over Allegedly Youth Targeted Zyn Ads
Philip Morris International and its subsidiary Swedish Match North America LLC have been hit with a putative class action from an unnamed California man alleging he became addicted to the company's Zyn smokeless oral nicotine pouches when he was a minor because of the product's marketing campaign.
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April 01, 2024
Ex-Pharma Co. Exec Denies Signing Noncompete Deal
The former director of government sales for a pharmaceutical company asked the North Carolina Business Court on Friday to knock out a breach of contract claim in a lawsuit that alleges he took trade secrets to a competitor, arguing the company has no valid noncompete agreement to back it up.
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April 01, 2024
3M Gets Final OK On PFAS Deal Worth Up To $12.5B
A South Carolina federal judge on Friday gave a final nod on a settlement between 3M and about 12,000 public water systems worth up to $12.5 billion to end claims over so-called forever chemicals in firefighting foam, saying that otherwise it would take years to try the cases.
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April 01, 2024
Trian Gains Support As Disney Proxy Contest Heats Up
With The Walt Disney Company's annual shareholder meeting looming, activist investor Trian Fund Management is making one final push for its fellow shareholders to vote in favor of its director nominees, on Monday announcing its candidates have received support from two "respected" institutional investors.
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April 01, 2024
Mass. Top Court At A Loss Over 7-Eleven Wage Case
The top court in Massachusetts on Monday appeared stumped by whether owners of 7-Eleven franchisees should be classified as employees under state law, with one justice calling the issue "almost incomprehensible."
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April 01, 2024
Ex-Fed. Prosecutor, Tech Co. GC Joins Boies Schiller In Calif.
Boies Schiller Flexner LLP is bolstering its West Coast litigation team, announcing Monday it has brought on a former federal prosecutor, who most recently worked at home rental platform Bungalow, as a partner in its San Francisco and Los Angeles offices.
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April 01, 2024
The Top In-House Hires Of March
Legal department hires during the past few weeks included high-profile appointments at John Deere, Geico and Zoom. Here, Law360 Pulse looks at some of the top in-house announcements from March.
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April 01, 2024
Morris James Forms M&A Group With 3 Attys From Skadden
Morris James LLP has hired three attorneys from Skadden Arps Slate Meagher & Flom LLP to launch the Delaware firm's new corporate and mergers and acquisition practice and enhance its already established corporate law services, the firm said Monday.
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April 01, 2024
GE Vernova Spinoff Approved, Valued At $35.7B
General Electric Co. said its board has approved the previously announced spinoff of its electric power business GE Vernova, setting the new company up to begin trading on the New York Stock Exchange on April 2.
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April 01, 2024
PE Firm Advent Buying Canada's Nuvei In $6.3B Deal
Canadian fintech Nuvei Corp. said Monday it has agreed to be taken private by Advent International through an all-cash transaction that values Nuvei at approximately $6.3 billion, including debt.
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April 01, 2024
Global Tensions Stall Cross-Border Deals As Gov'ts Regroup
Global cross-border mergers and acquisitions activity has fallen steadily from its 2021 peak, in part due to geopolitical issues that attorneys say are causing governments across the globe to bolster foreign investment policies and could lead investors to shift their geographic focus.
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April 01, 2024
Masimo Rips Politan's New Attempt To Grab Board Seats
Medical technology company Masimo Corp. on Monday pushed back against activist allegations of broken governance and lack of independent oversight, saying investor Politan Capital Management LP's plans to oust its current chairman and CEO contradict shareholders' best interests.
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April 01, 2024
Amazon's Disability Inclusion Efforts A Sham, Suit Says
Amazon's stated commitments to disability inclusion are a sham, a California worker with cerebral palsy claimed in a proposed class action, saying the company gave him a warehouse gig despite his many warnings that he couldn't meet the job's physical demands.
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March 29, 2024
Petition Watch: Off-Label Ads, Retiree Discrimination & PPE
A Utah attorney has asked the U.S. Supreme Court to determine whether allegedly retaliatory IRS summonses can be quashed, and two former pharmaceutical executives are challenging the constitutionality of their convictions for marketing the off-label use of a drug. Here, Law360 looks at recently filed petitions that you might've missed.
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March 29, 2024
DC Circ. Rejects Meta's Bid To Delay FTC Privacy Tweaks
A D.C. Circuit panel on Friday refused Meta Platforms Inc.'s bid to delay the Federal Trade Commission from pursuing changes to a $5 billion privacy settlement, saying the social media giant failed to show why it's entitled to an emergency injunction while it's challenging the FTC's structure.
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March 29, 2024
PayPal Gets CFPB's Fee Disclosure Rule Cut Down Again
A Washington, D.C., federal judge on Friday again sided with payment-processing giant PayPal in striking down attempts by the Consumer Financial Protection Bureau to hold digital wallets to certain disclosure and waiting-period rules that apply to physical prepaid payment cards.
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March 29, 2024
Alleged 'Shadow Trader's Co-Worker Tells Jury Stocks Not Tied
A co-worker of an ex-Medivation executive accused of "shadow trading" in rival Incyte's stock testified Friday as the first defense witness in his California federal civil trial, telling jurors that the two companies weren't competitors and that he wouldn't expect their stock prices to rise in tandem.
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March 29, 2024
SentinelOne Execs Face Derivative Suit Over Accounting Error
Cybersecurity company SentinelOne was hit with a shareholder derivative suit in California federal court Friday over a 35% stock price drop that the plaintiff claimed was the result of the company's disclosure about its internal controls and subsequent inflation of its annualized recurring revenue.
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March 29, 2024
High Court SEC Case May Bear On DOJ's Immigration Probes
A highly anticipated Supreme Court decision on the constitutionality of the U.S. Securities and Exchange Commission's tribunal body could lend support to Walmart and SpaceX in immigration enforcement proceedings, and it may even have the potential to strike the foundation of immigration courts.
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March 29, 2024
UTA's Atty Hit With $125M Suit Over 'Pathological Liar' Remark
United Talent Agency's attorney has been accused of defaming MediaLink founder Michael Kassan by calling him a "pathological liar" in the press, according to a suit filed in Los Angeles County, the latest development in a fierce dispute that has seen UTA and Kassan accuse each other of fraud.
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March 29, 2024
X Corp. Still Must Face Breach Suit Over 200M Users
A California federal judge on Friday trimmed a proposed class action alleging X Corp., the former Twitter Inc., failed to protect the data of 200 million users whose information was exposed in a data breach, allowing the users to amend some allegations while permanently tossing a California Consumers Legal Remedies Act claim.
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March 29, 2024
Employment Authority: Abortion Pill Case On Attys' Radar
Law360's Employment Authority covers the biggest employment cases and trends. Catch up this week with how employment attorneys are keeping on their radar the abortion pill case in the U.S. Supreme Court, how the indictment of a well-known New York pizzeria shows how criminal prosecution is used in wage theft cases, and how the NLRB's push to expand remedies for employees who face discipline concerns employers.
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March 29, 2024
What's Next On Courts' Crypto Docket After Bankman-Fried
The 25-year prison sentence for FTX founder Sam Bankman-Fried left the crypto industry one step closer to putting the fallout of "crypto winter" behind it, but there are still other cases with broad implications for the industry set to take over Manhattan courtrooms soon.
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March 29, 2024
OSHA Finalizes Rule Letting Unions Join Job Site Inspections
The Occupational Safety and Health Administration issued a final rule Friday broadening workers' right to choose who represents them during safety inspections, overwriting an old standard that required the representative to be a fellow employee and opening the door for outside representatives such as those from unions.
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March 29, 2024
L3Harris Accuses Moog Of Delays In Subdeals Worth $77.9M
L3Harris Technologies Inc. has hauled fellow defense contractor Moog Inc. into Florida federal court, alleging that Moog failed to timely deliver critical satellite parts under several subcontracts worth $77.9 million, despite the U.S. government requiring expedited delivery for national defense purposes.
Expert Analysis
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Lessons From DOJ's Handling Of Rare Medicare Fraud Case
The U.S. Department of Justice's recent indictment against HealthSun sheds light on the relatively rare circumstances in which the agency may pursue criminal charges for fraud involving Medicare Advantage, but its subsequent decision not to prosecute shows that compliance efforts can mitigate penalties, say attorneys at WilmerHale.
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5 Securities Litigation Issues To Watch In 2024
There is yet another exciting year ahead for securities litigation, starting with the U.S. Supreme Court hearing argument next week in a case presenting a key securities class action question that has eluded review for the last eight years, say attorneys at Willkie.
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A Look At Consumer Reporting In 2023, And What's To Come
The legal landscape of consumer reporting is evolving as courts, federal regulators and state legislatures continue to weigh in — and while last year may have seen a slight downtick in the overall volume of Fair Credit Reporting Act litigation, 2024 is set to be a watershed year for this area of the law, say attorneys at Troutman Pepper.
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Antitrust And ESG: Maximizing Targets, Ensuring Compliance
Jennifer McAlpin at Verizon and Michaela Spero at Amadeus consider the convergence of antitrust and environmental, social and corporate governance factors, providing an executive overview of areas to watch, including mergers and acquisitions, as well as practical implementation tips for general counsel.
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High Court's Job Bias Questions May Predict Title VII Ruling
Employers may be able to predict — and prepare for — important changes to workplace discrimination laws by examining the questions the U.S. Supreme Court asked during oral arguments for Muldrow v. St. Louis, where several justices seemed to favor a low threshold for Title VII suits, says Wendy LaManque at Pryor Cashman.
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Anti-Money Laundering Compliance Must Put Officers On Alert
Recent government actions against FTX and other crypto companies have put a laser focus on corporate compliance failures, with added pressure on compliance officers — making the need for personal risk assessment particularly acute given today's novel anti-money laundering issues, say Poppy Alexander at Constantine Cannon and Caleb Hayes-Deats at MoloLamken.
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What To Know About FCA Cybersecurity Enforcement
Now is a good time for practitioners, government contractors and potential relators to review recent developments in cybersecurity-related False Claims Act enforcement, and consider best practices for navigating this space in the new year, say Ellen London at London & Stout, and Li Yu and Molly Knobler at DiCello Levitt.
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Series
ESG Around The World: South Africa
While South Africa has yet to mandate the reporting of nonfinancial and environmental, social, and corporate governance issues, policy documents and recent legislative developments are likely to have a material impact in the country's transition to a low-carbon economy and in meeting its international obligations, say Glynn Kent at Eversheds Sutherland.
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Securing Financial Transparency In Chapter 11 Reporting
As we enter the new year, restructuring professionals would be wise to review Chapter 11 public reporting requirements to navigate what debtors may do to try to minimize public reporting, and what creditors can do to get the public reporting they deserve by striking a balance between financial transparency requirements and tactical moves, say Thomas Moers Mayer and Nancy Bello at Kramer Levin.
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4 Legal Ethics Considerations For The New Year
As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.
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Corporate Transparency Act Takeaways For Banking Industry
As of Jan. 1, the Corporate Transparency Act requires millions of companies to report the identities of their beneficial owners and applicants to the Financial Crimes Enforcement Network, and this groundbreaking change adds compliance obligations and complexity for lenders, borrowers and investors, says George Singer at Holland & Hart.
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What Brands Need To Know About Consumer Reviews In 2024
Testimonials, endorsements and consumer reviews have been on the Federal Trade Commission's radar for years — and since this evolving area will continue to be an enforcement priority in 2024, now is the time to ensure your house is in order, say attorneys at Crowell & Moring.
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SEC Case May Expand Scope Of Insider Trading Liability
The U.S. Securities and Exchange Commission's first-of-its-kind enforcement action against an individual in a case involving "shadow trading" demarcates an expansion of insider trading liability to circumstances in which there is a market connection between the source of information and the issuer of the securities traded, say attorneys at Steptoe.
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Ill. BIPA Ruling May Spark Violation-Of-Law Exclusion Fight
An Illinois appeals court's recent holding in National Fire Insurance v. Visual Pak that a violation-of-law exclusion didn't preclude coverage for an underlying Biometric Information Privacy Act suit contradicts an earlier Seventh Circuit decision that aligns with long-standing insurance law principles — which may lead the state's high court to weigh in, says Tae Andrews at Pasich.
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5 Privacy And Cybersecurity Resolutions For 2024
In 2023, companies grappled with an unprecedented array of data privacy and cybersecurity challenges that are likely to continue in 2024, meaning businesses will be well-served to incorporate strategies, such as data governance and website configuration, into their compliance programs, say Steven Stransky at Thompson Hine and Violet Sullivan at Crum & Forster.