Corporate

  • May 16, 2024

    $2B Default Recommended For Making Fair Trial 'Impossible'

    Years of lies should put a pair of Chinese electronics companies on the hook for over $2 billion in default judgment, a special master told a California federal judge, adding that their yearslong no-show and disregard of U.S. counsel advice to retain documents have rendered a fair trial "impossible."

  • May 16, 2024

    Klobuchar Reintroduces Sweeping Antitrust Reform Bill

    Sen. Amy Klobuchar, D-Minn., reintroduced sweeping legislation Thursday aimed at restoring competition by strengthening antitrust laws to help enforcers better deal with harmful conduct and mergers, garnering support from the American Antitrust Institute, Consumer Reports and others.

  • May 16, 2024

    Convicted Insurance Mogul Says He'll Trim Empire

    Convicted insurance mogul Greg Lindberg told the North Carolina Supreme Court he's relinquishing control of portions of his enterprise to fulfill a deal to restructure them with independent oversight, according to court filings.

  • May 16, 2024

    Thomas, Alito: Two Originalists, Two Takes On CFPB Case

    U.S. Supreme Court Justices Clarence Thomas and Samuel Alito — often birds of a feather — butted heads Thursday over the original meaning and purpose of the U.S. Constitution's appropriations clause in a decision upholding the Consumer Financial Protection Bureau's unique funding scheme, highlighting what experts describe as the pair's different approaches to originalism.

  • May 16, 2024

    3rd Circ. Shuns Teva's 'Novel' Appeal On Israeli Investor Class

    The Third Circuit on Thursday turned away an appeal brought by Teva Pharmaceutical Industries Ltd., saying the class certification stage was not the right time to hear arguments over the "novel" question of the applicability of U.S. securities laws to Israeli-listed shares.

  • May 16, 2024

    'That Is A Lie!' Trump Atty Assails Cohen In Fraud Trial Cross

    Donald Trump's lawyer lashed out at central prosecution witness Michael Cohen on Thursday during a second day of cross-examination in New York state's criminal fraud case, attacking his credibility and key testimony linking Trump to crimes.

  • May 16, 2024

    Judge Irked By 'Smart' Attys And 'Silly' Doc Retention Policies

    The chief judge of the U.S. Court of International Trade scolded Chinese tire companies on Thursday for complaining about having to provide information the federal government requested to reassess antidumping duties after the companies won an order for that reassessment.

  • May 16, 2024

    Disney Strikes Deal To Exit Hispanic Worker's Bias Suit

    A Disney subsidiary reached an agreement Thursday with a former Walt Disney World worker to end her lawsuit alleging the company unlawfully fired her after a co-worker overheard her tell a story about disciplining her son for using the N-word, a filing in Florida federal court said.

  • May 16, 2024

    Stubhub, Attys Face Sanctions Bid Over 'Strategy Of Evasion'

    Counsel for consumers seeking StubHub refunds for events canceled or rescheduled due to COVID-19 urged a California federal magistrate judge Thursday to sanction the online ticket platform and its lawyers, saying they've "engaged in a strategy of evasion, denial and distortion" to avoid producing hyperlinked documents despite a court order.

  • May 16, 2024

    3rd Circ. Revives Wesco Retirees' ERISA Fee Case

    The Third Circuit reinstated a proposed class action Thursday accusing Wesco Distribution Inc. of letting its employee retirement plan pay exorbitant administrative fees, ruling a trial court's "partly valid" criticisms of the suit weren't enough to warrant dismissal.

  • May 16, 2024

    FTC Deputy Director Rao On Healthcare Antitrust Agenda

    The reason behind the Federal Trade Commission's changed attitude toward antitrust in healthcare in recent years isn't simple, according to Rahul Rao, deputy director of the FTC's Bureau of Competition.

  • May 16, 2024

    High Court Decision Requiring A Stay Raises More Questions

    The U.S. Supreme Court's unanimous decision Thursday finding that federal courts must honor a request to stay a case after ordering the dispute into arbitration leaves an important subsequent question unresolved: What happens if neither party requests a stay?

  • May 16, 2024

    Prosecutors Say Fake Fortune 500 Workers Funded N. Korea

    The Biden administration alleged that North Korea may have raised $6.8 million to develop nuclear weapons by installing remote information technology workers at Fortune 500 businesses, announcing charges Thursday against two individuals accused of helping agents pose as U.S. employees.

  • May 16, 2024

    BNSF Judge Vows To Avoid Extremes In Trespass Payout

    A federal judge said Thursday that BNSF Railway Co. will likely have to fork over profits from its entire 1,500-mile oil shipment route to compensate a Washington tribe for nearly a decade of train trespassings across a less-than-mile-long easement, but the judge said the disgorgement won't be the hundreds of millions the tribe is seeking.

  • May 16, 2024

    Apple Exec Must Produce All Docs On 27% App Fee Decision

    A California federal judge presiding over a high-stakes antitrust hearing over Apple's compliance with a court-ordered ban on App Store anti-steering rules ordered a company executive Thursday to hand over all of his communications and notes on Apple's decision to impose a new 27% fee after her injunction.

  • May 16, 2024

    MoneyLion Beats Investor Suit Over Reverse Stock Split

    A New York federal judge has dismissed a lawsuit by shareholders of digital finance platform MoneyLion, who allege the company and its directors approved a reverse stock split that stripped preferred shareholders of their rights, saying the investors should have known the consequences of the vote.

  • May 16, 2024

    Senate Passes Bill To Block SEC Crypto Accounting Guidance

    The U.S. Senate voted Thursday to send a bill overturning the U.S. Securities and Exchange Commission's controversial crypto accounting guidance to the president's desk, though without the necessary votes to override the White House's planned veto.

  • May 16, 2024

    FDIC's Gruenberg Scolded By Senators Over Agency Culture

    Federal Deposit Insurance Corp. Chairman Martin Gruenberg on Thursday faced a second round of congressional reprimand from both sides of the political aisle over his agency's workplace misconduct scandal, but Senate Democrats seemed ready to let Gruenberg clean up the mess himself and continue his tenure.

  • May 16, 2024

    Ex-Pharma Exec Cops To Contempt For Barred Finance Work

    A Boston federal judge on Thursday accepted a former pharmaceutical company executive's guilty plea to a criminal contempt charge for using an alias to work on a finance venture despite a U.S. Securities and Exchange Commission ban.

  • May 16, 2024

    DOL Unveils Long-Delayed Abandoned Retirement Plan Rules

    After being sidelined for more than a decade, a plan for expanding U.S. Department of Labor rules for terminating retirement plans abandoned by employers are moving forward again, the agency reported Thursday, along with a long-delayed role in the process for bankruptcy trustees.

  • May 16, 2024

    SEC Adopts Rules For Uncovering, Reporting Data Breaches

    The U.S. Securities and Exchange Commission announced the adoption of cybersecurity rules Thursday that will require investment advisers and broker-dealers to put procedures in place for detecting data breaches and for notifying customers when their personal information may have been compromised.

  • May 16, 2024

    GM, LG Ink $150M Deal To End Chevy Bolt Battery Defect Suit

    A proposed class of Chevrolet Bolt owners asked a Michigan federal court on Thursday to give the go-ahead for a $150 million deal to end claims against General Motors LLC and LG units over alleged battery defects they say make the cars prone to overheating and fires.

  • May 16, 2024

    No Relief For Struggling SPACs Under Buyback Tax Proposal

    Special-purpose acquisition companies won't get sought-after relief from a new 1% tax on stock buybacks under a recent Treasury Department proposal that otherwise provides helpful clarity on the tax's implications for the subdued SPAC market, lawyers say.

  • May 16, 2024

    Coverage Recap: Day 14 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 Thursday, day 14 of the trial.

  • May 16, 2024

    Burger King Franchisee Seeks BIPA Coverage Quick Win

    A Burger King franchisee asked an Illinois federal court to rule that due to precedent and policy ambiguities, its umbrella insurer must defend it in a class action claiming it violated Illinois' Biometric Information Privacy Act by nonconsensually collecting fingerprint data.

Expert Analysis

  • 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.

  • How Cos. Can Assess Open-Source Contribution Patent Risks

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    Recent trends underscore the importance of open-source software to the technology industry for both engineering and strategic purposes, and companies should consider using a framework that addresses whether contributions require granting licenses to patent claims in portfolios to analyze associated risks, says Shrut Kirti at TAE Technologies.

  • 7 Common Myths About Lateral Partner Moves

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    As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.

  • How Broker-Dealers Can Prepare For New Remote Work Rules

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    Securities regulators recently expanded broker-dealers' ability to permit flexible remote working arrangements through the introduction of residential supervisory locations, a welcome change that better allows broker-dealers to attract and retain talent, say attorneys at King & Spalding.

  • 5 Tips For Policyholders Arbitrating R&W Insurance Claims

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    With more representations and warranties insurance disputes being arbitrated, policyholder counsel should note issues that are unique to RWI claims, including those of privilege, priority and preserving subrogation, says Micah Skidmore at Haynes Boone. 

  • Series

    Cheering In The NFL Makes Me A Better Lawyer

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    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.

  • Considerations For Disclosing AI Use In SEC Filings

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    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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