Corporate

  • May 13, 2024

    2nd Circ. Affirms Dismissal Of Bystolic Antitrust Suit

    The Second Circuit issued its first decision under the high court's Actavis "pay for delay" ruling on Monday, affirming the dismissal of a case alleging that an AbbVie predecessor delayed competition for its hypertension treatment Bystolic through deals with several generic makers.

  • May 13, 2024

    Binance Says Sullivan & Cromwell, FRA To Serve As Monitors

    Crypto exchange Binance said Monday that the federal government has selected a Sullivan & Cromwell LLP partner and a Forensic Risk Alliance founding partner to serve as independent third-party monitors overseeing its compliance with the terms of its $4.3 billion settlement and guilty plea over money laundering, bank fraud and sanctions violations.

  • May 13, 2024

    Corp. Transparency Act An Overbroad Dragnet, 11th Circ. Told

    Congress exceeded its authority in passing the Corporate Transparency Act, which prompted the U.S. Treasury Department to solicit personal information for law enforcement purposes from those that registered and owned state-registered entities, a small-business group told the Eleventh Circuit on Monday.

  • May 13, 2024

    House Bill Seeks More Commerce Dept. Control Of AI Exports

    Technology companies may soon be required to implement security checks before collaborating with Chinese artificial intelligence labs with military ties, under a bipartisan bill introduced last week in the U.S. House of Representatives.

  • May 13, 2024

    Zuckerberg Challenges Basis Of Personal Claims In Meta MDL

    Facebook founder Mark Zuckerberg is asking a California federal court to throw out claims against him in multidistrict litigation over social media platforms' allegedly addictive design, saying the personal injury plaintiffs haven't shown he took affirmative actions that would make him personally liable.

  • May 13, 2024

    SEC Says Biotech Co., Atty Should Pay $14M For Investor Lies

    Federal securities regulators have said a Colorado biotech startup and two of its founders should pay more than $14 million in ill-gotten profits, including interest, for lying to investors about the company's financial position, arguing that the founders showed a "total disregard" for investors.

  • May 13, 2024

    Schumer Urges FTC To Block Hess-Chevron Deal, Jabs Trump

    U.S. Senate Majority Leader Chuck Schumer said he was "sounding the alarm" against Chevron Corp.'s planned $53 billion acquisition of Hess Corp. in a post on social media platform X, urging the Federal Trade Commission to halt the deal while criticizing former President Donald Trump for a reported meeting with oil executives.

  • May 13, 2024

    EU Designates Booking.com As Gatekeeper, X Ads Escape

    The Dutch company that owns popular travel site Booking.com is the latest company to be hit with the gatekeeper designation by the European Commission, and the social media platform X may be next.

  • May 13, 2024

    USPTO Fights Class Cert. Bid In Suit Over Patent Program

    The U.S. Patent and Trademark Office has said a proposed group of inventors should not receive class certification in a suit alleging that the office's now-defunct program for flagging "sensitive" patent applications for extra review violated the Privacy Act.

  • May 13, 2024

    Philips Wants Cleaner Co. To Chip In For $1B CPAP Deal

    Koninklijke Philips NV has filed a third-party complaint in Pennsylvania federal court against SoClean Inc., which sells cleaning products for breathing devices, claiming SoClean and its parent should contribute to Philips' $1 billion settlement because its cleaners allegedly exacerbated the foam breakdown at the heart of the litigation.

  • May 13, 2024

    EPA Wrongly Approved New Chevron Chemicals, Group Says

    A Mississippi community group has asked the D.C. Circuit to revoke the U.S. Environmental Protection Agency's authorization for Chevron Corp. to produce 18 new chemicals derived from plastic waste "despite their extreme health risks."

  • May 13, 2024

    Chancery Scuttles Unfair Pirate Ship Salvage Co. Merger

    Finding the deal "wholly devoid" of attempts at fairness, a Delaware vice chancellor has ordered the unwinding of a 2018 pirate treasure hunting and salvage company merger with an asset-holding affiliate, while also finding that delay and fading evidence have scuttled minority investor fiduciary breach claims.

  • May 13, 2024

    Arena Football Contract Row Ends With Settlement

    After a monthslong dispute over an arena football team's decision to drop out of its former league to join a rival, upstart organization, the league said Friday that it had reached a settlement to end its litigation against the breakaway West Texas Desert Hawks.

  • May 13, 2024

    Uber, Lyft Put Driver Work Fight In Reverse As Trial Begins

    A high-stakes battle over the employment status of drivers for Uber and Lyft kicked off in Massachusetts on Monday, as the companies sought to flip the government allegations by arguing that the ride-hailing giants work for their drivers, not the other way around.

  • May 13, 2024

    Akin Brings On Sidley Energy Pro In Houston

    Akin Gump Strauss Hauer & Feld LLP announced Monday that it is continuing the expansion of its energy transactions practice in Houston with a partner who arrived from Sidley Austin LLP.

  • May 13, 2024

    Cleary Adds In-House Vet To Private Funds Practice In NY

    Cleary Gottlieb Steen & Hamilton LLP announced Monday that it added an experienced attorney as a counsel in its New York office who has worked in a variety of executive roles at different hedge funds.

  • May 13, 2024

    FinTech Atty Moves From R3 To BakerHostetler In SF

    BakerHostetler has added to its San Francisco office a former counsel and head of government relations at digital finance company R3, bolstering its business practice, its blockchain technologies and digital assets team and its financial services team, the firm announced Monday.

  • May 13, 2024

    Catching Up With Delaware's Chancery Court

    Sunken treasure, recycled plastics, questionable denim and dog food all made appearances in Chancery Court dockets last week, along with developments in cases involving Qualcomm, Tesla Inc., and Truth Social. In case you missed it, here's the latest from Delaware's Chancery Court.

  • May 13, 2024

    Paul Weiss Adds Former Kirkland M&A Atty As Partner

    Paul Weiss Rifkind Wharton & Garrison LLP said Monday that the firm has hired a former Kirkland & Ellis LLP mergers and acquisitions partner as a partner in its own M&A practice in New York.

  • May 13, 2024

    NJ Firm's Former Exec Says Home Purchase Not Tied To Theft

    A previous McElroy Deutsch executive is fighting a claim on her house after her husband, another former firm leader, copped to stealing $1.5 million, arguing his theft began after January 2017 and therefore the firm could not show funds were used to purchase their New Jersey home in 2016.

  • May 13, 2024

    Cohen Says Trump Knew Hush Money Records Were False

    Donald Trump's former attorney Michael Cohen took the witness stand Monday in the ex-president's New York criminal case, testifying that his longtime "boss" directed him to make hush money payments to alleged paramours and that Trump later agreed to the "legal services" label for a six-figure reimbursement despite seeing paperwork that showed otherwise.

  • May 13, 2024

    Archegos Boss Blew $36B, But It Was His To Lose, Jury Told

    The founder of fallen hedge fund Archegos argued to a Manhattan federal jury Monday that charges of distorting markets and lying fall short because he believed in his $36 billion investment strategy but was upended by COVID-19 financial fallout.

  • May 13, 2024

    Coverage Recap: Day 12 Of Trump's NY Hush Money Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from Monday, day 12 of the trial.

  • May 10, 2024

    Epic Judge Raises Eyebrows About Apple's New 27% App Fee

    The California federal judge overseeing Epic's antitrust case against Apple challenged the terms the tech giant is using to comply with her order to allow app developers to send users to outside payment platforms, saying Friday that Apple appears to be trying to maintain its past revenue with a new 27% fee.

  • May 10, 2024

    Rivian's Cert. Oppo Not How 'Real World Works,' Judge Says

    A California federal judge told Rivian's attorney Friday that his arguments opposing class certification for investors alleging the carmaker misled them on material costs appeared to say that unless a company practically admits fraud in a disclosure it's not a "corrective" disclosure, but "that is not how the real world works."

Expert Analysis

  • Under The Hood Of The SEC Securitization Conflict Rule

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    Elanit Snow and Julia Vitter of Proskauer consider the U.S. Securities and Exchange Commission's recently finalized rule that prohibits conflicts of interest in certain securitization transactions, uncovering what the new regulation does and doesn’t entail, why it was adopted, and how commenters' remarks affected the process.

  • Series

    Skiing Makes Me A Better Lawyer

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    A lifetime of skiing has helped me develop important professional skills, and taught me that embracing challenges with a spirit of adventure can allow lawyers to push boundaries, expand their capabilities and ultimately excel in their careers, says Andrea Przybysz at Tucker Ellis.

  • Tips For Counsel Seeking Balance In The ESG Political Divide

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    Corporate counsel tasked with navigating environmental, social and governance factors in the current polarized political environment should not lose sight of best practices, including sticking to what the law requires and always telling the truth, say Jennifer Rubin at Mintz and Mike Rider at ResMed.

  • Assessing Chinese Cross-Border Data Transfers

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    Jet Deng and Ken Dai at Dacheng unpack the regulatory framework for cross-border data transfers in China, detailing the major systems at play, last year's policy adjustments, and an outlook and practice tips for businesses.

  • Think Like A Lawyer: Forget Everything You Know About IRAC

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    The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.

  • Valeant Ruling May Pave Way For Patent-Based FCA Suits

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    The Ninth Circuit’s recent ruling in Silbersher v. Valeant marks a significant development in False Claims Act jurisprudence, opens new avenues for litigation and potentially raises the stakes for patent applicants who intend to do business with the government, say Joshua Robbins and Rick Taché at Buchalter.

  • The Corporate Transparency Act Isn't Dead Yet

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    After an Alabama federal court's ruling last week rendering the Corporate Transparency Act unconstitutional, changes to the law may ultimately be required, but ongoing compliance is still the best course of action for most, says George Singer at Holland & Hart.

  • How Advance Notice Bylaws Are Faring In Del. Courts

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    Recent decisions make it clear that the Delaware Chancery Court is carefully reviewing public companies' amended advance notice bylaws in order to balance the competing interests of boards and shareholders, and will likely strike down bylaws that improperly interfere with stockholder franchises, say attorneys at Olshan Frome.

  • How New EU Tax And Transfer Pricing Rules May Affect M&A

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    Companies involved in mergers and acquisitions may need to adjust fiscal due diligence procedures to ensure they consider potential far-reaching effects of newly implemented transfer pricing measures, such as newly implemented global minimum tax and European Union anti-tax avoidance directives and proposals, says Patrick Tijhuis at BDO.

  • New FinCEN Guide Provides Useful BOI Context For Banks

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    Financial institutions should review a new Financial Crimes Enforcement Network compliance guide for helpful details about how the agency's beneficial ownership information database should be used, though questions remain about the access rule and whether it will truly streamline bank borrowers' Corporate Transparency Act due diligence, says George Singer at Holland & Hart.

  • Strategies For Single-Member Special Litigation Committees

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    The Delaware Supreme Court's recent order in the Baker Hughes derivative litigation allowing testimony from a single-member special litigation committee highlights the fact that, while single-member SLCs are subject to heightened scrutiny, they can also provide unique opportunities, says Josh Bloom at MoloLamken.

  • Opinion

    Suits Against Insulin Pricing Are Driven By Rebate Addiction

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    A growing wave of lawsuits filed by states, cities and counties against insulin manufacturers and pharmacy benefit managers improperly allocate the blame for rising insulin costs, when in actuality the plaintiffs are partially responsible, says Dan Leonard at Granite Capitol Consulting.

  • Lessons For D&O Policyholders From Pharma Co. Ruling

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    A California federal court's recent decision in AmTrust v. 180 Life Sciences, requiring insurers to advance defense costs for a potentially covered claim, provides a valuable road map for directors and officers insurance policyholders, rebutting the common presumption that a D&O insurer's duty to advance costs is more limited than under other policies, say attorneys at Pasich.

  • How Firms Can Ensure Associate Gender Parity Lasts

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    Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.

  • Bracing Cos. For Calif. Privacy Agency's Restored Authority

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    A recent California state appeals court decision greenlights the California Privacy Protection Agency's enforcement of certain consumer privacy regulations, which may speed up compliance requirements, so businesses considering use of artificial intelligence, for instance, may want to reassess their handling of privacy notices and opt-out requests, say Kevin Angle and Matthew Cin at Ropes & Gray.

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