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Corporate
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May 08, 2025
5th Circ. Wipes Out Southwest Attys' Religious Training Order
The Fifth Circuit on Thursday held that a lower court overstepped by ordering several in-house Southwest Airlines attorneys to undergo "religious liberty training" following a flight attendant's win in a wrongful termination suit, finding that the training wouldn't benefit the flight attendant or persuade Southwest to comply with an earlier order.
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May 08, 2025
Celsius Founder Gets 12 Years For Massive Crypto Fraud
The founder and former CEO of defunct Celsius Network on Thursday was sentenced to 12 years in prison for deceiving customers about the crypto lender's profitability and business practices, and falsely inflating the price of the platform's native token, CEL.
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May 08, 2025
Del. Justices Uphold Chancery Toss Of AMC Meme Stock Suit
A long-running meme stock saga that saw common and preferred stockholders battle AMC Entertainment in Delaware's Court of Chancery over a preferred equity conversion plan ended quietly Thursday with a state Supreme Court refusal to disturb a vice chancellor's dismissal of a final settlement dispute.
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May 08, 2025
CEO Stole Funds To Fuel 'Gambling Habit', Investor Says
An investor in a cybersecurity company has claimed in a new suit that the company's CEO defrauded the investor out of more than $2.8 million through falsified budgets and other means, all to support a "lavish" lifestyle and "severe gambling habit."
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May 08, 2025
Ex-Binance CEO Says He's Asked Trump Admin For A Pardon
Binance founder Changpeng Zhao said he has applied for a pardon from the Trump administration in the wake of a four-month prison term he served as part of a historic plea deal over the cryptocurrency exchange's anti-money laundering failures.
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May 08, 2025
Schwan's Moves To Block Conagra's Late Expert Reports
Schwan's has urged a Minnesota federal judge to throw out late-stage expert testimony and documents introduced by Conagra Brands in a trade secrets lawsuit over the company's hiring of a former Schwan's scientist, saying that its food business rival engaged in "trial by ambush" by unveiling new damages theories and evidence after the close of discovery.
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May 08, 2025
Ruling Over Expired Bard Patent Causes Split, Justices Told
Atrium Medical has asked the U.S. Supreme Court to review a Ninth Circuit ruling that revived a $53 million breach of contract lawsuit against it by C.R. Bard, saying the appeals court "takes a dramatically different approach" from other circuits on royalty payments.
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May 08, 2025
Capital One Wants Trump Entities' 'De-Banking' Suit Tossed
Capital One urged a Florida federal court to dismiss a lawsuit by President Donald Trump's revocable trust and Eric Trump claiming the bank illegally canceled hundreds of Trump-affiliated accounts in the aftermath of the Jan. 6, 2021, attacks on the U.S. Capitol, arguing the complaint does not show the accounts were closed for political reasons.
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May 08, 2025
Ticketmaster Asks Justices To Protect 'Alternative' Arbitration
Live Nation and Ticketmaster have asked the U.S. Supreme Court to clarify whether a federal law requires courts to enforce only traditional arbitration arrangements Congress envisioned when the law was enacted a century ago, or also "alternative" agreements drafted more recently to process mass arbitration.
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May 08, 2025
Judge Says No French Connection In L'Oreal Hair Relaxer MDL
An Illinois federal judge has dismissed L'Oréal USA Inc.'s French parent company from multidistrict litigation alleging it and other companies' hair relaxer products can cause health problems, finding the company doesn't have sufficient connections to the U.S. for the court to have jurisdiction.
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May 08, 2025
No 'Clean Slate' For Samsung After Epic's Win Against Google
A California federal judge overseeing Epic Games' lawsuit alleging Samsung and Google colluded to dodge an injunction related to Google's Play Store warned the parties on Thursday that he won't completely ignore jury findings in a similar case that Epic won against Google, noting that "we're not writing on a clean slate."
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May 08, 2025
Google Payment Unit Ends Suit As CFPB Nixes Oversight Plan
Google Payment Corp. disclosed Thursday that the Consumer Financial Protection Bureau has agreed to drop Biden-era plans to supervise the tech giant's payment arm, leading the company to drop its suit against the regulator.
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May 08, 2025
WeightWatchers To Seek OK For Equity Swap Ch. 11 In June
WeightWatchers expects it will be able to set aside some equity in a reorganized company for existing stockholders while cutting $1.15 billion in debt under a Chapter 11 plan that is scheduled for a confirmation hearing in June, the debtor told a Delaware bankruptcy judge on Thursday.
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May 08, 2025
Hikma Cuts $50M Deal To End Antitrust Claims In Xyrem MDL
A certified class of Xyrem buyers in 36 states have asked a California federal judge to preliminarily approve Hikma Pharmaceuticals PLC's $50 million deal to resolve antitrust claims accusing Hikma of colluding with rival Jazz Pharmaceuticals to block generic rivals from competing with Jazz's narcolepsy drug.
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May 08, 2025
Musk Objects To New Job For SEC's Former Litigation Chief
Elon Musk is opposing a move by plaintiff-side firm Bernstein Litowitz Berger & Grossmann LLP to hire the U.S. Securities and Exchange Commission's former chief litigation counsel, arguing in a court filing that the lawyer "played a personal and substantial role" in suing Musk while at the SEC.
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May 08, 2025
Apple Asks 9th Circ. To Pause New App Store Injunction
Apple has asked the Ninth Circuit to pause parts of a California federal court's new injunction mandating changes to its App Store policies, issued after finding Apple violated a previous order, saying the "punitive" measures force it to give away free access to its products.
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May 08, 2025
Ind. Allows Credit For Taxes Paid On Behalf Of Pass-Throughs
Indiana authorized electing pass-through entities to claim a credit for taxes paid on their behalf under a bill signed by the governor.
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May 08, 2025
Biotech Tells Chancery Drug Co. Abused Merger Prospects
Biotech venture Renovaro Inc. sued cancer-focused, artificial intelligence-assisted drug developer Predictive Oncology Inc. in Delaware's Court of Chancery on Thursday, accusing Predictive of walking away from a merger agreement after its standalone prospects improved upon announcement of the deal.
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May 08, 2025
SEC's Peirce Outlines Path To Exempt Tokenized Securities
The U.S. Securities and Exchange Commission's Hester Peirce on Thursday endorsed the creation of "regulatory sandboxes" that would encourage companies to develop trading systems for tokenized securities, enabling them to experiment with new technologies without certain registration requirements that govern stock exchanges.
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May 08, 2025
Elizabeth Holmes Loses Bid For Full 9th Circ. Rehearing
The Ninth Circuit said Thursday it will not reconsider a panel decision refusing to throw out the conviction and 11-year prison sentence of Theranos Inc. founder Elizabeth Holmes.
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May 08, 2025
SafeMoon Fraud Turned Me Into A 'Monster,' Key Witness Says
A former SafeMoon developer told a Brooklyn federal jury Thursday that his "moral compass was skewed" by corruption at the cryptocurrency outfit, as he blamed the company's CEO for allegedly conspiring to loot the company.
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May 08, 2025
Wilson Sonsini M&A Ace Moves To Cooley In Silicon Valley
Cooley LLP is growing its transactions team, announcing Thursday that it is bringing in a Wilson Sonsini Goodrich & Rosati PC mergers and acquisitions pro as a partner in its Silicon Valley office in Palo Alto, California.
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May 08, 2025
Buffalo Wild Wings Job Apps Violate Ill. Privacy Law, Suit Says
Buffalo Wild Wings and its corporate parent have been hit with a proposed class action from two Illinois residents alleging the chain is violating a state privacy law by probing applicants' family medical histories as part of its employment considerations.
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May 08, 2025
McDermott Recruits Ex-Kirkland Transactions Ace
An attorney specializing in capital markets transactions and securities has recently moved his practice to McDermott Will & Emery LLP's Chicago office after more than four and a half years with Kirkland & Ellis LLP.
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May 08, 2025
TGI Fridays In-House Atty Rejoins Haynes Boone In Dallas
Haynes Boone announced Thursday that it has rehired an attorney who previously worked for the firm's trademark and advertising practice group, before leaving to do in-house work for Yum Brands and TGI Fridays, to enhance its brand strategy and management services.
Expert Analysis
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Tax Takeaways From Georgia's 2025 Legislative Session
Attorneys at Eversheds Sutherland discuss tax-related measures passed by the Georgia Legislature during the session that adjourned on April 4, which included a decrease in income tax rates, an extension of the time in which to a protest tax assessment and cleanup provisions related to launching the state’s new tax court next year.
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Limit On SEC Enforcement Authority May Mean Fewer Actions
Following a recent U.S. Securities and Exchange Commission final rule revoking the Enforcement Division director's long-standing authority to issue formal investigation orders, it's clear the division is headed for a new era of limited autonomy, marked by a significantly slower pace of SEC investigations, say attorneys at Ballard Spahr.
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Calif. Antitrust Laws May Turn More Zealous Than US Regs
California is poised in the next 18 months to significantly expand its antitrust laws, broadening the scope of liability and creating a premerger review process that could be more expansive than review under the Hart-Scott-Rodino Act, say attorneys at Munger Tolles.
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As SEC, CFTC Retreat, Who Will Police The Crypto Markets?
As the U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission pull back from policing the crypto markets, the Federal Trade Commission and Consumer Financial Protection Bureau have the authority to pick up the slack — although recent events raise doubts that they will do so, say attorneys at Skadden.
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Digesting A 2nd Circ. Ruling On Food Delivery App Arbitration
The Second Circuit recently rejected Grubhub's attempt to arbitrate price-fixing claims, while allowing Uber Eats to do so, reinforcing that even broad arbitration clauses must connect to the underlying dispute and suggesting that terms of service litigation may center on websites' design and content, say attorneys at Greenspoon Marder.
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E-Discovery Quarterly: The Perils Of Digital Data Protocols
Though stipulated protocols governing the treatment of electronically stored information in litigation are meant to streamline discovery, recent disputes demonstrate that certain missteps in the process can lead to significant inefficiencies, say attorneys at Sidley.
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Making Sense Of Small Biz Fair Lending Compliance
Despite the uncertainty brought on by the Consumer Financial Protection Bureau's recent efforts to revise fair lending data collection requirements under Section 1071 of the Dodd-Frank Act, the compliance dates have not yet been stayed, so covered institutions should still start to monitor any disparities now, say attorneys at Frost Brown Todd.
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Defense Strategies After Justices' Personal Injury RICO Ruling
In Medical Marijuana v. Horn, the U.S. Supreme Court recently held that the Racketeer Influenced and Corrupt Organizations Act can be invoked by some plaintiffs with claims arising from personal injuries — but defense counsel can use the limitations on civil RICO claims to seek early dismissal in such cases, say attorneys at Debevoise.
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A Look At M&A Trends In An Uncertain Deal Environment
Dealmakers are adopting more cautious and deliberate merger and acquisition practices, such as earnout agreements, joint ventures and strategic partnerships that mitigate risk and bridge valuation gaps, amid the slower pace so far in 2025, says Louis Lehot at Foley & Lardner.
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Opinion
Ripple Settlement Offers Hope For Better Regulatory Future
The recent settlement between the U.S. Securities and Exchange Commission and Ripple — in which the agency agreed to return $75 million of a $125 million fine — vindicates criticisms of the SEC and highlights the urgent need for a complete overhaul of its crypto regulation, says J.W. Verret at George Mason University.
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Series
Law School's Missed Lessons: Preparing For Corporate Work
Law school often doesn't cover the business strategy, financial fluency and negotiation skills needed for a successful corporate or transactional law practice, but there are practical ways to gain relevant experience and achieve the mindset shifts critical to a thriving career in this space, says Dakota Forsyth at Olshan Frome.
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5 Insurance Types For Mitigating Tariff-Related Trade Losses
The potential for significant trade-related losses as a result of increased tariffs may cause companies to consider which of their insurance policies, including marine, builders risk, trade credit, and directors and officers, could provide coverage to alleviate the financial impact, say attorneys at Pillsbury.
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Series
Florida Banking Brief: All The Notable Legal Updates In Q1
The first quarter of 2025 saw the Trump administration's crypto-forward approach permeate the banking industry, including Florida banking institutions, and a Fourth District Court of Appeal decision provide a new precedent for borrower/lender standing, say attorneys at Kozyak Tropin.
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Meta Case Brings Customer-Facing Statements Issue To Fore
Now that Facebook v. Amalgamated Bank has returned to California federal court after the U.S. Supreme Court in November found it improvidently granted certiorari, it will be worth watching whether customer-facing communications, such as Facebook's privacy policies, are found to be made in connection with the sale of a security, says Samuel Groner at Fried Frank.
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A Cold War-Era History Lesson On Due Process
The landmark Harry Bridges case from the mid-20th century Red Scare offers important insights on why lawyers must be free of government reprisal, no matter who their client is, says Peter Afrasiabi at One LLP.