Facebook disclosed Friday that hackers had recently gained access to nearly 50 million user accounts by exploiting a vulnerability tied to a profile preview feature, an incident that prompted the filing of a consumer lawsuit and will almost certainly spur those that have been examining the tech giant's broader privacy practices to raise fresh data security questions.
The U.S. Securities and Exchange Commission's recent settlement with a broker-dealer and investment adviser that allegedly violated a rule meant to combat identity theft even though it had cybersecurity policies in place signals that the mere existence of these policies is not enough to avoid scrutiny, experts say.
The Seventh Circuit ruled on Friday that the National Labor Relations Act doesn't grant local governments the power to bar mandatory union membership, scrapping a right-to-work ordinance passed by the village of Lincolnshire, Illinois.
Louise Thorpe oversees the worldwide privacy program at credit card giant American Express. Here, she talks to Law360 about how the company can keep the trust of its more than 100 million cardholders across the globe, and how companies should treat customers in the era of GDPR.
Medical device company Stryker Corp. agreed to pay a $7.8 million penalty over accounting and record keeping failures in China, India and Kuwait, marking the company's second settlement with the U.S. Securities and Exchange Commission over Foreign Corrupt Practices Act violations.
New York Stock Exchange owner Intercontinental Exchange Inc. tapped a former McKenna Long & Aldridge LLP attorney as its next general counsel, and the new Fox company has picked a Kirkland & Ellis LLP partner to be its legal boss. Here, Law360 looks at some of September's top in-house hires and promotions.
Apple Inc. on Friday escaped a $506 million damages award in a patent case brought by the Wisconsin Alumni Research Foundation as the Federal Circuit found the iPhone maker did not infringe a computer processor patent.
Walgreens Boots Alliance Inc. agreed to pay the U.S. Securities and Exchange Commission $34.5 million to settle allegations that the company and its executives misled investors about revenues that were expected from Walgreens' acquisition of Alliance Boots GmbH, the SEC said Friday.
Technology giants said they'd embrace new federal privacy legislation in the wake of headline-grabbing data misuse scandals, and the U.S. Supreme Court is poised to start a new session that could see the justices tackle a growing circuit split on whether federal anti-discrimination law protects gay and transgender workers.
An Illinois federal judge on Thursday denied class certification for female Ford Motor Co. plant workers allegedly subjected to rampant sexual harassment, saying the lead attorney is inadequate to be class counsel due to misconduct in a previous class action that led to disciplinary sanctions and malpractice suits.
State attorneys general demonstrated their disdain for blatant failures to report data security incidents in hitting Uber with a record $148 million penalty for attempting to cover up a 2016 breach, solidifying their role as active and aggressive privacy enforcers at a time when efforts to codify a national framework threaten their powers, attorneys say.
The FTC's challenge of Tronox's planned $2.4 billion purchase of Saudi-owned chemical mining company Cristal has taken a curious procedural path. And now, more than 18 months after the transaction was inked, a federal court has paused the deal while the sides await a ruling from the agency's in-house judge. Here, Law360 takes a look at how the case got here and what comes next.
The U.S. Supreme Court said Thursday that it will weigh in on Home Depot’s fight to keep in North Carolina federal court class action claims originally asserted against the home improvement retailer as counterclaims in a state court collection action initiated by Citibank.
U.S. Department of Justice official Matthew Miner told an audience of defense lawyers in Manhattan on Thursday that the government wants to work with businesses, not against them, in policing corporate crime, saying that they should view the DOJ as “partners, not adversaries.”
The U.S Securities and Exchange Commission sued Tesla CEO Elon Musk on Thursday in New York federal court for allegedly making a baseless assertion last month that he was prepared to take his company private at a significant premium to its stock price at the time.
A California federal judge has denied a Chinese glass screen supplier’s bid to arbitrate its $25 million dispute with Apple Inc. over a soured supply deal, but also refused to dismiss the company's claims that Apple grossly overstated its needs under their contract.
Nine state attorneys general, a group of antitrust and economics experts, and business groups including the U.S. Chamber of Commerce have filed separate amicus briefs urging the D.C. Circuit to reject the U.S. Department of Justice appeal fighting to undo AT&T Inc.'s $85.4 billion purchase of Time Warner Inc.
Brazilian state-owned oil company Petrobras said on Thursday that it will pay $853.2 million in penalties to end a U.S. probe into a multibillion-dollar bribery scheme by former company executives, with 20 percent of the settlement going to the U.S. and the rest going to a fund in Brazil.
An Illinois federal judge on Thursday denied consumers certification in a proposed class action accusing Citigroup Inc. and CitiMortgage Inc. of calling customers without permission after being told to stop, in violation of the Telephone Consumer Protection Act, saying Citi had evidence that a substantial number of potential class members had given their consent.
A Monsanto Co. vice president has been named Bayer AG's new general counsel for the U.S. shortly after the two agribusiness giants completed their $63 billion merger, Bayer confirmed to Law360 on Thursday, as it faces mounting lawsuits against some of its top products.
Delaware Vice Chancellor J. Travis Laster recently cautioned that while courts are now giving greater deference to deal prices and market evidence in determining fair value, this approach does not elevate "market value" to the governing standard under the appraisal statute. His caveat begs at least three finance questions, say Dirk Hackbarth of Boston University and Bin Zhou of The Brattle Group.
In Chamber of Commerce v. U.S. Department of Labor, the Fifth Circuit decided the DOL's so-called fiduciary rule conflicted with Section 3(21) of the Employee Retirement Income Security Act. George Sepsakos and Michael Kreps of Groom Law Group discuss the decision's implications and various elements to consider following vacatur of the rule.
While the Tax Cuts and Jobs Act did not change what constitutes a tax-free reorganization, it is having a significant impact on domestic and cross-border mergers and acquisitions. Attorneys at Eversheds Sutherland LLP consider how the changes affect transaction structuring, diligence and tax risk allocation in M&A transactions.
It is at this point axiomatic that the Trump administration is intent on reversing significant portions of the Obama administration's regulatory activity. Interestingly, it seems that courts may pose another major risk to the survival of some Obama-era initiatives, say Andrew Oringer and Samuel Scarritt-Selman of Dechert LLP.
While the Tax Cuts and Jobs Act fundamentally changed rules governing the deduction under IRC Section 162(m) of executive compensation by publicly held corporations, it also included grandfather relief for some existing arrangements. Eric Winwood of Baker Botts LLP discusses the recent grandfather relief guidance and its effects.
While there are no precedential court decisions involving an autonomous vehicle accident yet, it's only a matter of time. In-house counsel should consider a range of legal, professional and technological measures to avoid or mitigate the litigation risks, say attorneys with Faegre Baker Daniels LLP.
The next generation of cyberthreats — data manipulation — is here. In this video, Michael Bahar and Vicente Arias Máiz of Eversheds Sutherland LLP discuss what data manipulation attacks are, the importance of proactive planning, and how low-tech and high-tech solutions can help.
The legal implications of communication tools that automatically delete messages are surfacing in various types of litigation and investigations. As these tools become more popular, a company must constantly evaluate how to reconcile their use with its duty to preserve evidence, say attorneys with Pepper Hamilton LLP.
In the weeks since the Ninth Circuit and D.C. Circuit issued conflicting opinions in challenges to the validity of tax regulations, other developments have undercut the impact of the Ninth Circuit's Altera opinion. Meanwhile, the Good Fortune Shipping opinion's application of the reasoned decision-making standard provides a welcome addition to the body of case law, says Patrick Smith of Ivins Phillips & Barker Chtd.
Recent changes to the U.K. Corporate Governance Code should reassure investors that companies with a premium listing on the London Stock Exchange are committed to being standard-bearers. Issuers may also benefit from the workforce engagement, corporate culture and diversity changes that will be brought into businesses, say Joseph Ferraro and Jennifer Tait of Willkie Farr & Gallagher LLP.