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Corporate
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April 24, 2024
Under Armour Must Show Shoe Sponsor Deals In Patent Row
Under Armour is being forced to turn over information relating to deals it has with athletes like basketball star Stephen Curry as part of a patent infringement lawsuit, but the Texas federal judge in the case limited how much the sportswear company has to provide.
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April 24, 2024
Chamber Of Commerce Sues FTC Over New Noncompete Rule
The U.S. Chamber of Commerce has lodged a promised lawsuit challenging the Federal Trade Commission's new rule banning noncompete agreements, contending the pacts are good for the economy and that the agency lacks authority to issue the regulation.
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April 24, 2024
Noteholders Say Chilean Telecom Lacks US Ties For Ch. 11
A group of WOM SA noteholders asked a Delaware bankruptcy judge to dismiss the Chilean cellphone network operator's Chapter 11 case, saying the company has no connections with the United States and courts here don't have jurisdiction over the company's assets.
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April 24, 2024
Seyfarth Picks Up BCLP Corporate Finance Pro In Atlanta
Seyfarth Shaw LLP is expanding its corporate team with a Bryan Cave Leighton Paisner LLP finance specialist as a partner in its Atlanta office, the firm said Wednesday.
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April 24, 2024
Tesla Must Put Musk's Potential Payday In Trust, Investors Say
Class attorneys for Tesla stockholders have asked Delaware's chancellor to seize or shelter in a trust tens of billions in company stock sidelined by a ruling that struck down CEO Elon Musk's 10-year compensation plan in January, pending a fast-track hearing.
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April 24, 2024
Solar Panel Co. Loses Calif. Appeal Over PAGA Arbitration
A California appellate panel sided with a lower court as it ruled in a published opinion that a carveout in a home solar panel company's employment agreement did not require a former worker to arbitrate his individual Private Attorneys General Act claims, keeping his suit in court.
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April 24, 2024
Trump Can't Subpoena Daniels For Alleged Bias In NY Trial
A New York state judge rejected Donald Trump's "overbroad" subpoena seeking records that the former president said would show bias by adult film star Stormy Daniels ahead of her testimony about an alleged hush money payment in 2016.
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April 24, 2024
Baker McKenzie Adds 17-Atty Deals Team From Munger Tolles
A team of 11 transactional partners and six associates in Los Angeles is heading to Baker McKenzie from Munger Tolles & Olson LLP, according to an announcement Wednesday.
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April 23, 2024
Monsanto Judge Slashes $857M PCB Jury Verdict
A Washington state judge slashed a nearly $860 million PCB poisoning verdict against Monsanto by roughly half on Tuesday, while the company sought to avoid future losses by moving to sever an upcoming 14-plaintiff trial in another toxic tort stemming from the same Evergreen State school site.
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April 23, 2024
New Ga. Law Restricts Social Media Use For Youth Under 16
A bill signed into law Tuesday by Georgia Gov. Brian Kemp imposes new restrictions on minors' internet usage, including requiring social media companies to verify that users are 16 or older unless they receive approval from an individual's parents to use the service.
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April 23, 2024
TikTok Divestment Bill Heads To Biden's Desk
The Senate voted 79-18 on Tuesday night to pass a bill requiring ByteDance Ltd. to divest the popular social media app TikTok or face a ban in the U.S., which now goes to the president's desk.
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April 23, 2024
Globetrotters Say SBA's 'Bureaucratic Hell' Cost COVID Grant
The Harlem Globetrotters on Monday renewed their yearslong fight with the U.S. Small Business Administration over a $10 million COVID-19 relief grant, filing a new suit in D.C. federal court accusing the SBA of leaving the team in "bureaucratic hell" rather than forking over the money it's entitled to.
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April 23, 2024
Ex-Autonomy Tech Exec Doubted 'Bizarre' $6M Deal, Jury Told
Autonomy's ex-chief technology officer testified Tuesday in the California federal fraud trial of former CEO Michael Lynch that he had concerns about Autonomy's "bizarre" 2010 deal to sell $6 million in repackaged hardware, which prosecutors allege was never delivered and was only used to artificially inflate Autonomy's revenues.
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April 23, 2024
SEC Critics Preview Future Challenges To Agency Action
The U.S. Securities and Exchange Commission may face new challenges to its enforcement authority from the way it imposes industry bars to the burden of proof needed to bring its civil cases, two frequent legal opponents of the agency said Tuesday.
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April 23, 2024
Ex-Williams Sonoma Exec Pleads Not Guilty To Fraud
A former Williams Sonoma executive appeared remotely before a U.S. magistrate judge in California federal court on Tuesday and pleaded not guilty to an 18-count superseding indictment alleging he orchestrated a kickback scheme and another involving the diversion of payments.
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April 23, 2024
Meta Secures Partial Trim Of Video Technology Patent Suit
A federal judge has narrowed a suit accusing Meta Platforms Inc. of infringing patents related to video technology, throwing out one of VideoLabs' patents but letting the patent owner keep moving forward with another.
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April 23, 2024
US Gun Cos. Tell Justices Mexico Is Circumventing Law With Suit
A group of American firearm makers is asking the Supreme Court to throw out a suit from the government of Mexico alleging they have aided and abetted cartels, saying the First Circuit broke with the high court's precedent by allowing the case to proceed.
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April 23, 2024
Vince McMahon Says Deal With Accuser Sinks Abuse Suit
A former World Wrestling Entertainment Inc. legal staffer who has accused founder Vince McMahon of sexually abusing and trafficking her should be forced to take her federal lawsuit to arbitration because of a deal the parties signed when they ended a consensual affair, McMahon said Tuesday in a court filing.
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April 23, 2024
Realtors, Home Sellers Get OK For $418M Broker Rules Deal
The National Association of Realtors and a nationwide class of home sellers on Tuesday scored a Missouri federal judge's initial approval of their $418 million settlement resolving claims that the trade group's broker commission rules caused home sellers across the country to pay inflated fees.
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April 23, 2024
4 Things Attys Should Know About NJ's $56B Spending Plan
New Jersey Gov. Phil Murphy has crafted a spending plan that furthers his vision of the state as an innovator in offshore wind and artificial intelligence, while drawing pushback for a proposed corporate transit fee and warehouse tax.
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April 23, 2024
CoStar Rival Is Asking To Free Ride, 9th Circ. Told
CoStar urged the Ninth Circuit not to revive antitrust counterclaims from Commercial Real Estate Exchange Inc., despite backing from the Federal Trade Commission, arguing the rival is trying to use antitrust law to get free access to its platforms.
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April 23, 2024
Justices Probe NLRB's Burden In Starbucks' Injunction Appeal
The U.S. Supreme Court appears likely to hold that the courts' traditional factors apply when the National Labor Relations Board pursues injunctions, though it's unclear from Tuesday's argument how closely it will direct courts to examine a key factor: the strength of the board's case.
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April 23, 2024
Goosehead Insurance Investor Looks To Pause Chancery Deal
A stockholder of Goosehead Insurance Inc. who struck a settlement last year with the Texas-based company to end his proposed class action over disproportionate insider control asked Delaware's Court of Chancery on Tuesday to put the deal on hold until another case involving investment bank Moelis & Co. plays out.
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April 23, 2024
Trump's Stake In Truth Social Swells An Additional $1.2B
The value of Donald Trump's stake in his newly public social media company soared by nearly $1.2 billion on Tuesday as the former president became eligible to receive bonus shares that were conditioned on the company's stock performance.
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April 23, 2024
Crypto Industry Groups Sue SEC Over Dealer Definition
Two crypto industry groups on Tuesday jointly sued the U.S. Securities and Exchange Commission to overturn the regulator's expanded dealer definition, claiming the regulator sidestepped a fair rulemaking process when it declined to address the myriad issues industry participants pointed out during the shortened comment process.
Expert Analysis
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Series
Cheering In The NFL Makes Me A Better Lawyer
Balancing my time between a BigLaw career and my role as an NFL cheerleader has taught me that pursuing your passions outside of work is not a distraction, but rather an opportunity to harness important skills that can positively affect how you approach work and view success in your career, says Rachel Schuster at Sheppard Mullin.
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Considerations For Disclosing AI Use In SEC Filings
Recent remarks from U.S. Securities and Exchange Commission Chair Gary Gensler should be heard as a clarion call for public companies to disclose artificial intelligence use, with four takeaways on what companies should disclose, says Richard Hong at Morrison Cohen.
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Args In APA Case Amplify Justices' Focus On Agency Power
In arguments last week in Corner Post v. Federal Reserve, the U.S. Supreme Court justices paid particular importance to the possible ripple effects of their decision, which will address when a facial challenge to long-standing federal rules under the Administrative Procedure Act first accrues and could thus unleash a flood of new lawsuits, say attorneys at Snell & Wilmer.
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Averting Patent And Other IP Risks In Generative AI Use
While leveraging generative AI presents potential problems such as loss of ownership of patents and other intellectual properties, a series of practice tips, including ensuring that the technology is used as a supplementary tool and is not contributing to invention conception, can help mitigate those concerns, say Mackenzie Martin and Bryce Bailey at Baker McKenzie.
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Mitigating Whistleblower Risks After High Court UBS Ruling
While it is always good practice for companies to periodically review whistleblower trainings, policies and procedures, the U.S. Supreme Court’s recent whistleblower-friendly ruling in Murray v. UBS Securities helps demonstrate their importance in reducing litigation risk, say attorneys at Arnold & Porter.
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Series
ESG Around The World: Gulf Cooperation Council
The Gulf Cooperation Council is in the early stages of ESG policy implementation, but recent commitments by both states and corporations — including increases in sustainable finance transactions, environmental commitments, female representation on boards and human rights enforcement — show continuing progress toward broader ESG goals, say attorneys at Cleary.
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Steps For Companies New To Sanctions Compliance
Businesses newly required to implement compliance programs due to the increased breadth of mandatory sanctions and export controls, including 500 additional Russia sanctions announced last Friday, should closely follow the guidance issued by the Office of Foreign Assets Control and other regulators, say Jennifer Schubert and Megan Church at MoloLamken.
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A Cautionary Tale On Hospital-Physician Alignment Structures
A $345 million settlement between the U.S. Department of Justice and Community Health Network highlights how quickly hospital and physician alignment relationships can violate legal restrictions on such dealings, and the onerous financial penalties that can ensue, say Robert Threlkeld and Elliott Coward at Morris Manning.
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Using Arbitration And Class Waivers As Privacy Suit Tools
Amid a surge in data breach class actions over the last few years, several federal court decisions indicate that arbitration clauses and class action waiver provisions can be possible alternatives to public court battles and potentially reduce the costs of privacy litigation, say Mark Olthoff and Courtney Klaus at Polsinelli.
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6 Pointers For Attys To Build Trust, Credibility On Social Media
In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.
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Cos. Must Know How NY, Federal LLC Disclosure Laws Differ
Though New York state's new LLC Transparency Act and the federal Corporate Transparency Act impose similar beneficial owner reporting obligations on limited liability companies, New York LLCs should study the important differences between the laws to ensure they are prepared to comply with both, say Abram Ellis, Olenka Burghardt and Jane Jho at Simpson Thacher.
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Opinion
Biden Admin's March-In Plan Would Hurt Medical Innovation
The Biden administration's proposal to reinterpret the Bayh-Dole Act and allow the government to claw back patents when it determines that a commercialized product's price is too high would discourage private investment in important research and development, says Ken Thorpe at the Rollins School of Public Health.
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9 Considerations For Divestitures, Carveouts And Spinouts
Amid new economic optimism, data protection, transitional services and seven other considerations can help legal practitioners untangle complex divestitures, carveouts and spinouts to unlock value for corporate sellers, say Kimberly Petillo-Décossard and Kristen Rohr at White & Case.
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Why Fla. High Court Adopting Apex Doctrine Is Monumental
The Florida Supreme Court recently solidified the apex doctrine in the Sunshine State, an important development that extends the scope of the doctrine in the state to include both corporate and government officials, and formalizes the requirements for a high-level corporate official to challenge a request for a deposition, says Laura Renstrom at Holland & Knight.
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5 Lessons For SaaS Companies After Blackbaud Data Breach
Looking at the enforcement actions that software-as-a-service provider Blackbaud resolved with state attorneys general, the U.S. Securities and Exchange Commission and the Federal Trade Commission in the past year can help SaaS companies manage these increasingly common forms of data breaches, say attorneys at Orrick.