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Corporate
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May 05, 2025
Coal Miner Says It Must Liquidate Without Creditor Deal
Counsel for the owners of Heritage Coal told a Delaware bankruptcy judge on Monday that if secured and unsecured creditors cannot reach a deal by Tuesday, the company will have to move to convert its bankruptcy from a Chapter 11 to a Chapter 7 liquidation.
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May 05, 2025
Akin Hires Ex-Trump Trade Official From Hogan Lovells
Akin Gump Strauss Hauer & Feld LLP said Monday it has hired the former co-leader of Hogan Lovells' geopolitical risk and national security program, who is bringing perspective from that role and experience navigating international economic issues at the White House to Akin's lobbying and public policy team.
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May 02, 2025
Ex-Abercrombie CEO Isn't Fit To Stand Trial, Judge Agrees
A New York federal judge Friday held that former Abercrombie & Fitch Co. CEO Michael Jeffries is indeed incapable of understanding the sex trafficking litigation against him and must be hospitalized for a few months to determine "whether his competency may be restored."
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May 02, 2025
Judge Axes Trump's Perkins Order With Shakespearean Flourish
A Washington, D.C., federal judge on Friday struck down as unconstitutional President Donald Trump's retaliatory executive order targeting Perkins Coie LLP, permanently blocking enforcement of the directive and likening the president's action to a Shakespeare character's suggestion that the way to amass power is to "kill all the lawyers."
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May 02, 2025
Abbott Beats Bellwether In Formula MDL Ahead Of Trial
An Illinois federal judge Friday held that Abbott Laboratories isn't liable for the death of a baby who consumed its Similac baby formula, entering judgment in favor of Abbott in a bellwether case in multidistrict litigation that was set to head to trial in a little over a week.
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May 02, 2025
DOJ's Climate Change Suits Test Feds' Powers In State Affairs
The Trump administration's new lawsuits challenging state-level efforts to combat climate change are an unprecedented approach, several environmental attorneys say, and will test the judiciary's view of federal interests in state matters.
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May 02, 2025
Smith & Wesson Says Catholic Investors' Suit Misfires
Firearms manufacturer Smith & Wesson Brands Inc. slammed as mere "social activism" an investor lawsuit filed by groups of Catholic sisters seeking to curb company sales and marketing of AR-15-style rifles that are sometimes used in mass shootings, urging a Nevada federal judge to dismiss the suit and the claims that it violated a fiduciary duty.
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May 02, 2025
Gores Group's Latest SPAC Leads 3 IPOs Totaling $792M
Gores Holdings X Inc., the latest of several special purpose acquisition companies formed by private equity firm The Gores Group, began trading Friday after pricing an upsized $312 million IPO, the largest of three new SPAC listings totaling $792 million.
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May 02, 2025
11th Circ. Urged To Revive Fla. Suit Over Car Co. Buybacks
An investor urged the Eleventh Circuit on Friday to revive his claim that the CEO of a Florida company that develops navigation technology for self-driving cars improperly made nearly $24 million from share buybacks, saying his "indirect pecuniary" interest in the transaction precludes him from profits under federal law.
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May 02, 2025
Real Estate Recap: Budget Cuts, Student Housing, Old Malls
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including real estate takeaways from President Donald Trump's proposed federal budget cuts and two asset classes attracting attention.
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May 02, 2025
Mozilla Says Google Search Remedies Are Major Threat
A Mozilla executive told a D.C. federal court on Friday that preventing Google from sharing revenue from its search ads would eliminate the nonprofit browser developer's primary source of income.
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May 02, 2025
Nevada Takes Another Step Toward Business Court Stand-Up
Nevada's Assembly has made another move to position state courts to handle corporate and commercial law disputes, with the first-step passage of a bill that would make judges, rather than juries, the triers of fact for fiduciary duty breaches or suits brought in a company name, among other matters.
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May 02, 2025
Dick's Sporting Goods Execs Sued Over Post-COVID Issues
The top brass of Dick's Sporting Goods was hit with a shareholder derivative suit Friday alleging that the company failed to disclose excess inventory and increased shrinkage or theft following the COVID-19 pandemic, which caused Dick's stock price to drop by more than 24% once the truth was revealed.
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May 02, 2025
Employment Authority: Feds' Workforce Data Confusion
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with a look at whether small federal contractors are still required to submit employer information reports after President Donald Trump rescinded an executive order requiring contractors to do so, how a recent First Circuit decision on what qualifies as a right-to-sue notice from the U.S. Equal Employment Opportunity Commission clashes with another court of appeal's view and how DoorDash still faces allegations of stolen pay even after reaching multimillion-dollar settlements with several state attorneys general.
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May 02, 2025
Apple Beats Suit Over Child Porn In ICloud Accounts, For Now
A California federal judge tossed a proposed class action Thursday claiming Apple engaged in "privacy-washing" by ignoring a problem with child sexual abuse material on its iCloud storage platform, dismissing some claims with prejudice while allowing others to be amended.
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May 02, 2025
US, China Battling Over Entrenched Economies, Experts Say
Differing economic philosophies are contributing to the escalating trade war between the United States and China, according to professionals who follow the countries' relations, with the Chinese government's supply-side ideology rooted in exports and U.S. deficit spending driving demand for imports.
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May 02, 2025
United Airlines Beats Retirees' ERISA Suit, For Now
A federal judge in Chicago has freed United Airlines from a consolidated proposed class action retired employees filed accusing the company of locking them out of a generous retirement package, saying a company policy the retirees leaned on wasn't governed by the Employee Retirement Income Security Act.
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May 02, 2025
Ex-Twitter Execs, Co. Fight Over Musk's Texts Severance Row
Elon Musk, his social media platform X and four former company executives claiming they are owed $200 million in severance told a California federal judge that they disagreed on how the billionaire's phone should be searched for discovery purposes.
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May 02, 2025
Ex-SCWorx CEO Seeks Sentencing Delay Over Restitution Row
The former chief executive of SCWorx Corp. who was convicted of securities fraud after publicizing a $670 million COVID-19 test kit contract that never materialized told a New Jersey federal court Friday that he's seeking a one-month delay in his sentencing, citing the government's statement that it would pursue more than $140 million in restitution.
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May 02, 2025
4 Mass. Rulings You May Have Missed In April
Some notable Massachusetts state court decisions in April wrestled with a Staples affiliate's jurisdictional challenge in an employment case, a discovery dispute in the state's greenwashing litigation against Exxon involving McKinsey & Co., and an insurer's effort to be let off the hook for representing a lawyer in a malpractice claim.
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May 02, 2025
Ad Tech Judge Mulls Possible Google Exchange Divestiture
A Virginia federal judge expressed interest Friday in potentially forcing Google to divest a key piece of its advertising placement technology business, while voicing reservations with a U.S. Department of Justice proposal to also force another sale to address the search giant's ad tech monopoly.
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May 02, 2025
Trump Media Makes Move To Fla. With Del. Action Pending
Trump Media & Technology Group Corp., the parent company of President Donald Trump's social media platform, has wrapped up its "redomestication" from Delaware to Florida, joining other businesses that have taken what's become known as a "DExit" to other states.
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May 02, 2025
Musk Can Pursue Most Claims Against OpenAI, Microsoft
Microsoft, OpenAI and several of their affiliates cannot escape the bulk of Elon Musk's lawsuit accusing the companies of swindling him by transitioning the ChatGPT maker into a for-profit enterprise, a California federal judge ruled.
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May 02, 2025
X Reneged On Severance Promises, Laid-Off Mass. Workers Say
Six former Twitter employees in Massachusetts who were laid off after Elon Musk purchased and downsized the social networking giant say the company, now called X Corp., broke its promises to pay out severance in line with what was offered before Musk's takeover.
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May 02, 2025
Trade War Spurs Companies To Freshen Disclosure Playbooks
Against the backdrop of a protracted trade war that has rattled investors, companies are honing their securities filings and public communications strategies, posing fresh challenges for corporations and their lawyers, who are otherwise accustomed to navigating global disruptions.
Expert Analysis
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Tariffs And FCA Create Perfect Storm For Importers
The Trump administration's aggressive tariff policies pose a high risk to certain importation practices that are particularly likely to trigger False Claims Act enforcement, say attorneys at Jeffer Mangels.
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How Tariffs May Affect Proxy Contests This Season
While global tariffs imposed by the Trump administration will certainly chill at least some activity this proxy season, and make defending contests significantly easier, there will likely be many new activist investments once there is more economic certainty, meaning more proxy fights this fall, say attorneys at Sidley.
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Running A Compliant DEI Program After EEOC, DOJ Guidance
Following recent guidance from the U.S. Equal Employment Opportunity Commission and the U.S. Department of Justice that operationalized the Trump administration's focus on ending so-called illegal DEI, employers don't need to eliminate DEI programs, but they must ensure that protected characteristics are not considered in employment decisions, say attorneys at Holland & Knight.
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A Closer Look At New NYSE, Nasdaq Listing Rule Changes
The U.S. Securities and Exchange Commission has recently approved changes to the New York Stock Exchange's and the Nasdaq's listing rules on reverse stock splits, minimum share price requirements and required liquidity for initial listings, meaning listed companies facing delisting will have fewer means to regain compliance, say attorneys at Cahill Gordon.
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Series
Law School's Missed Lessons: Be An Indispensable Associate
While law school teaches you to research, write and think critically, it often overlooks the professional skills you will need to make yourself an essential team player when transitioning from a summer to full-time associate, say attorneys at Stinson.
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6 Principles For De-Risking In This Era Of Uncertainty
Companies can emerge from the current period of disruptive transformation stronger than ever by embracing strategies that enable them to methodically evaluate risk, adapt to change without losing purpose, focus on customer value and find competitive advantages amid uncertainty, says David McVeigh at Axiom.
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What 2nd Trump Admin Means For Ship Pollution Compliance
As the second Trump administration's civil and criminal enforcement policies take shape, the maritime industry must ensure it complies with both national and international obligations to prevent oil pollution from seagoing vessels — with preventive efforts and voluntary disclosures being some of the best options for mitigating risk, say attorneys at Holland & Knight.
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23andMe Case Highlights Privacy Complexities In Ch. 11
Attorneys at Pryor Cashman discuss the interplay between a sale of personally identifiable information and bankruptcy law in light of genetics and health company 23andMe's recent filing for Chapter 11 relief.
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Mass. AG Emerges As Key Player In Consumer Protection
Through enforcement actions and collaborations with other states — including joining a recent amicus brief decrying the defunding of the Consumer Financial Protection Bureau — Massachusetts Attorney General Andrea Campbell has established herself as a thought leader for consumer protection and corporate accountability, say attorneys at Troutman Pepper.
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SEC Confidential Review Process Provides Issuers Flexibility
The U.S. Securities and Exchange Commission's recently announced enhancements to the process for confidentially submitting draft registration statements will be immediately impactful for issuers seeking to access the public capital markets, and should provide more grounds to explore and plan public offerings, say attorneys at Lowenstein Sandler.
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Series
Birding Makes Me A Better Lawyer
Observing and documenting birds in their natural habitats fosters patience, sharpens observational skills and provides moments of pure wonder — qualities that foster personal growth and enrich my legal career, says Allison Raley at Arnall Golden.
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Measuring And Mitigating Harm From Discriminatory Taxes
In response to new tariffs and other recent "America First Trade Policy" pronouncements, corporations should assess and take steps to minimize their potential exposure to discriminatory and reciprocal tax measures that are likely to come, say economists at Charles River Associates.
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How Del. Law Rework Limits Corporate Records Requests
Newly enacted amendments to a section of the Delaware General Corporation Law that allows stockholders and beneficial owners to demand inspection of Delaware corporations' books and records likely curtails the scope of such inspections and aids defendants in framing motions to dismiss at the pleading stage, says Jonathan Richman at Brown Rudnick.
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Series
Calif. Banking Brief: All The Notable Legal Updates In Q1
Among the most notable developments in California banking in the first quarter of the year, regulators and legislators issued regulations interpreting debt collection laws, stepped up enforcement actions, and expanded consumer protections for those affected by wildfires, says Stephen Britt at Severson & Werson.
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How The ESG Investing Rule Survived Loper Bright, For Now
A Texas federal court's recent decision in Utah v. Micone upholding the U.S. Department of Labor's 2022 ESG investing rule highlights how regulations can withstand the post-Loper Bright landscape when an agency's interpretation of its statutorily determined boundaries is not granted deference, say attorneys at Miller & Chevalier.