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Corporate
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June 05, 2024
Davis Polk Guiding Dollar Tree On Potential Family Dollar Sale
Davis Polk & Wardwell LLP is representing Dollar Tree Inc. in a formal strategic review of its Family Dollar business that could lead to a sale, spinoff or other disposition, the Virginia-based retailer revealed Wednesday.
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June 05, 2024
Medtronic Can't Pause FCA Claims For 1st Circ. Detour
A Massachusetts federal judge on Wednesday declined to pause a long-pending False Claims Act and whistleblower retaliation case against medical device maker Medtronic so it can appeal a recent ruling, saying the court and the parties need to "get it moving."
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June 05, 2024
Google Hit With IP Suit By Textbook Cos. Over Pirated Books
A group of textbook publishers hit Google LLC with a copyright and trademark infringement lawsuit Wednesday in New York federal court, accusing the tech giant of allowing advertisements from websites that allegedly sell pirated books and ignoring take-down requests from the publishers for years.
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June 05, 2024
After Judge Takes Trip To Israel, Attys Want Him Off Gaza Case
Palestinian rights activists asked a Ninth Circuit judge to recuse himself from a case claiming that the Biden administration flouted international laws barring genocide by supporting Israel's military efforts in Gaza, noting that the judge recently took a trip to Israel sponsored by the World Jewish Congress.
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June 05, 2024
Ex-CFO Took $40M From Detroit Nonprofit, Prosecutors Say
The former chief financial officer for the Detroit Riverfront Conservancy has been charged with carrying out a decadelong embezzlement scheme that drained the nonprofit of about $40 million, an alleged fraud described as "simply astonishing in scale."
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June 05, 2024
Donziger Deserves Pardon, Enviro Groups Tell Biden
A group of environmental and human rights groups are calling on President Joe Biden to pardon disbarred environmental lawyer Steven Donziger for his criminal contempt conviction in litigation brought by Chevron over his role in securing a $9.5 billion environmental judgment in Ecuador.
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June 05, 2024
FTC Can't Pause Novant's $320M Bid To Buy NC Hospitals
The Federal Trade Commission on Wednesday lost its bid to block Novant Health from buying two local hospitals in North Carolina for $320 million while it conducts an in-house review, with a federal judge reasoning that competition would actually fare better if the merger advanced.
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June 05, 2024
Husch Blackwell Adds Berger Singerman Finance Pro In Fla.
Husch Blackwell announced Tuesday the hiring of a finance partner from Berger Singerman to boost both its corporate practice group and its presence in Florida.
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June 05, 2024
McDonald's Loses 'Big Mac' TM Rights Over Poultry In EU
A European Union court on Wednesday stripped McDonald's of its right to use the "Big Mac" trademark on chicken sandwiches in the bloc, ruling that the fast food giant had failed to put the sign to proper use on poultry products in recent years.
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June 05, 2024
5th Circ. Private Funds Ruling Could Rewrite SEC Agenda
The Fifth Circuit on Wednesday vacated U.S. Securities and Exchange Commission regulations that would have required private fund advisers to provide detailed disclosures to investors, in a sweeping decision that could upend the regulator's approach to promised rules on climate, artificial intelligence and crypto assets.
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June 04, 2024
PE Firm Tells 5th Circ. It Got Pushed Out Of EV Co. Acquisition
Texas-based private equity company Ancor Holdings LP says it got pushed out of an acquisition deal by another private equity group it brought in as backup, arguing in oral arguments at the Fifth Circuit on Tuesday that a binding letter of intent means it's entitled to future profits.
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June 04, 2024
Trump Wants Gag Orders Terminated In Wake Of Guilty Verdict
Donald Trump asked a New York County judge to terminate gag orders restricting the former president from making out-of-court statements during his criminal trial, arguing that the "restrictions" on his First Amendment rights are no longer warranted now that the trial has come to an end.
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June 04, 2024
Ontrak CEO Shed $20M In Stock With Insider Info, Jury Hears
Ontrak Inc.'s founder rushed to dump over $20 million of the healthcare company's stock using insider information about a souring relationship with its biggest client, Cigna, helping him avoid $12 million in losses, prosecutors told California federal jurors Tuesday in a first-of-its-kind securities fraud trial.
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June 04, 2024
Monsanto Tries To Flip $1B PCB Losses As Plaintiffs Press On
Monsanto is moving to capitalize on a Washington state appellate victory it claims casts doubt on more than $1.1 billion in PCB poisoning verdicts, while plaintiffs are staking out positions to defend — and even build on — their blockbuster wins.
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June 04, 2024
GOP Spending Bill Aims To Cut SEC Budget, Nix Climate Rule
The Republican-led House Appropriations Committee released a spending bill Tuesday that threatens to cut funding for financial service agencies and prevent the U.S. Securities and Exchange Commission from funding its controversial climate disclosure rules and bar Consumer Financial Protection Bureau spending on a contentious rule, as well.
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June 04, 2024
CFPB Seeks Traffic Cop For Parallel Small-Biz Data Rule Suits
The Consumer Financial Protection Bureau on Tuesday asked a Kentucky federal judge to stay an industry lawsuit challenging the agency's small-business lender reporting requirements, saying a largely identical challenge filed earlier in Texas should take precedence.
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June 04, 2024
Rep. Gaetz Backs FTC's Noncompete Ban In Court
Rep. Matt Gaetz threw his support behind the Federal Trade Commission on Tuesday in a court battle over the agency's new rule banning employee noncompete clauses, arguing that Congress has repeatedly affirmed the commission's authority to make competition rules.
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June 04, 2024
Monsanto Gets $2.25B Roundup Verdict Slashed To $404M
A Pennsylvania judge on Tuesday slashed a $2.25 billion verdict awarded to a cancer patient who claimed Monsanto's glyphosate-based weedkiller Roundup contributed to his lymphoma, reducing the jury's 10-figure damages award to $404 million after the Bayer AG subsidiary argued that the initial award was "unconstitutionally excessive."
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June 04, 2024
On 2nd Bite, Apple Investors Get Initial OK For $490M Deal
A California federal judge has given the first OK to a $490 million settlement that will resolve claims that Apple misled investors about iPhone sales in China, saying the deal is fair and reasonable, and a better alternative than further litigation, after criticizing the deal during its initial bid for approval and ordering changes.
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June 04, 2024
HP Fraud Charges Against Ex-Autonomy Execs Head To Jury
Closing arguments wrapped Tuesday in a California federal criminal trial over claims that former Autonomy CEO Michael Lynch and ex-finance vice president Stephen Chamberlain duped HP into overpaying billions for the British tech company, with Chamberlain's lawyer saying his client did his job "in good faith," which, in the court's eyes, is a "complete defense."
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June 04, 2024
Ex-Startup CEO Gets 3-Year Sentence For Embezzling $5.9M
A D.C. federal judge on Tuesday sentenced the founder and former CEO of an alternative energy startup to three years of incarceration for embezzling $5.9 million from his company to fund what the judge called "a lavish, and to some extent ridiculous, lifestyle."
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June 04, 2024
JPMorgan Accused Of Retaliating Against Indian H-1B Worker
JPMorgan Chase & Co. is facing a new lawsuit accusing it of firing an Indian product manager on an H-1B visa after the former employee confronted his supervisor for allegedly discriminating against him based on his race and nationality.
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June 04, 2024
Mexican Co. Asks Justices To Resolve Foreign Service Q's
A Mexican film distributor is asking the U.S. Supreme Court to resolve a technical question relating to service of process on foreign parties, as it fights a Ninth Circuit decision enforcing an arbitral award favoring a Los Angeles-based film production company over a 2020 movie that starred Jessica Chastain.
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June 04, 2024
Regions Bank Escapes Ex-Ruby Tuesday Execs' Benefits Suit
A Tennessee federal judge threw out a lawsuit lodged by former Ruby Tuesday managers alleging Regions Bank caused them to lose out on more than $35 million by inadequately protecting their pensions and breaching its duties as trustee, saying the retirement plans in question are exempt from federal benefits law.
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June 04, 2024
SEC Inks Deal With Ex-Food Co. Execs Over Misspent Funds
The U.S. Securities and Exchange Commission has reached a $7.8 million settlement with former executives of HF Foods over claims they siphoned millions of dollars from the company for personal use in a scheme that was eventually revealed after HF Foods went public with a blank check company.
Expert Analysis
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The Drawbacks Of Banking Regulators' Merger Review Plans
Recent proposals for bank merger review criteria by the Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. share common pitfalls: increased likelihood of delays, uncertainties, and new hurdles to transactions that could impede the long-term safety and soundness of the banks involved, say attorneys at WilmerHale.
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Opinion
The FTC's Noncompete Rule Is Likely Dead On Arrival
The Federal Trade Commission's April 23 noncompete ban ignores the consequences to the employees it claims to help — but the rule is unlikely to go into effect provided the ideological makeup of the U.S. Supreme Court remains the same, say Erik Weibust and Stuart Gerson at Epstein Becker.
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Unpacking The Bill To Extend TCJA's Biz-Friendly Tax Breaks
Attorneys at Skadden examine how a bipartisan bill currently being considered by the U.S. Senate to save the Tax Cuts and Jobs Act's tax breaks for research and development costs, and other expiring business-friendly provisions, would affect taxpayers.
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Class Actions At The Circuit Courts: April Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses three notable circuit court decisions on topics from the Class Action Fairness Act to consumer fraud — and provides key takeaways for counsel on issues including CAFA’s local controversy exception and Article III standing to seek injunctive relief.
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Perspectives
Criminal Defendants Should Have Access To Foreign Evidence
A New Jersey federal court recently ordered prosecutors to obtain evidence from India on behalf of the former Cognizant Technology executives they’re prosecuting — a precedent that other courts should follow to make cross-border evidentiary requests more fair and efficient, say Kaylana Mueller-Hsia and Rebecca Wexler at UC Berkeley School of Law.
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McKesson May Change How AKS-Based FCA Claims Are Pled
The Second Circuit’s analysis in U.S. v. McKesson, an Anti-Kickback Statute-based False Claims Act case, provides guidance for both relators and defendants parsing scienter-related allegations, say Li Yu at Dicello Levitt, Ellen London at London & Stout, and Erica Hitchings at Whistleblower Law.
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5 Employer Actions Now Risky After Justices' Title VII Ruling
Last week in Muldrow v. St. Louis, the U.S. Supreme Court ruled that harm didn't have to be significant to be considered discriminatory under Title VII of the Civil Rights Act, making five common employer actions vulnerable to litigation, say Kellee Kruse and Briana Scholar at The Employment Law Group.
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Chancery's Carvana Suit Toss Shows Special Committee Value
The Delaware Chancery Court’s recent dismissal of a stockholder complaint against Carvana illustrates how special litigation committees can be a powerful tool for boards to regain control after litigation alleging a breach of fiduciary duty, say attorneys at Morgan Lewis.
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EPA Chemical Safety Rule Raises Questions About Authority
Stakeholders should consider the practical and economic costs of the U.S. Environmental Protection Agency's recently finalized rule imposing novel board reporting regulations for certain chemical plants and refineries, which signals that the agency may seek a role in regulating corporate governance, say attorneys at Sidley.
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Series
Being An Equestrian Makes Me A Better Lawyer
Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.
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Deciding What Comes At The End Of WTO's Digital Tariff Ban
Companies that feel empowered by the World Trade Organization’s recent two-year extension of the ban on e-commerce tariffs should pay attention to current negotiations over what comes after the moratorium expires, as these agreements will define standards in international e-commerce for years to come, say Jan Walter, Hannes Sigurgeirsson and Kulsum Gulamhusein at Akin Gump.
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Considering CGL Defense For Social Media Addiction Claims
A recent lawsuit filed in California state court against Meta seeks damages from technology companies for the costs of treating children allegedly suffering from social media addiction, but the prospects of defense coverage under commercial general liability insurance policies for a potential new wave of claims look promising, say Craig Hirsch and Tae Andrews at Pasich.
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FTC Noncompete Ban Signals Rising Labor Focus In Antitrust
The Federal Trade Commission’s approval this week of a prohibition on noncompete agreements continues antitrust enforcers’ increasing focus on labor, meaning companies must keep employee issues top of mind both in the ordinary course of business and when pursuing transactions, say attorneys at Skadden.
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Breaking Down EEOC's Final Rule To Implement The PWFA
Attorneys at Littler highlight some of the key provisions of the U.S. Equal Employment Opportunity Commission's final rule and interpretive guidance implementing the Pregnant Workers Fairness Act, which is expected to be effective June 18, and departures from the proposed rule issued in August 2023.
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4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.