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Corporate
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June 06, 2024
Roundup MDL Judge Worries Plaintiffs Firms Overstretched
A California federal judge presiding over multidistrict personal injury litigation over Monsanto's Roundup weed killer expressed concerns Thursday that plaintiffs firms may be taking on "a whole bunch of cases" they don't have the ability to prosecute just to settle "on the cheap," calling the prospect "a little bit disturbing."
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June 06, 2024
Real Water Caused 'Devastating' Hospitalizations, Jury Told
A mother whose twin babies were hospitalized with acute liver failure after the family subscribed to water delivery service Real Water told a Nevada state jury Thursday that the experience was "devastating."
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June 06, 2024
Calif. Judge Pauses Wells Fargo Investor Row Over State Case
A California federal judge has paused a pension system's proposed class action accusing top Wells Fargo & Co. officers of enabling a "culture of lawlessness," making way for a state court suit that alleges similar wrongdoing.
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June 06, 2024
Ameriprise Says Father-Son Ex-Reps Stole Client Info
Ameriprise Financial seeks a restraining order against two former employees, a father-son duo, and their new employer, saying the men took boxes of confidential documents "in the dark of the night" to transfer to their new roles.
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June 06, 2024
Ex-Telemundo Worker Urges Panel To Revive Harassment Suit
A former Telemundo advertising executive urged an Eleventh Circuit panel Thursday to reverse a lower court's ruling to dismiss her sexual harassment lawsuit against the company, saying she sufficiently alleged a hostile work environment after reporting sexual harassment by her supervisors.
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June 06, 2024
USPTO Rejects Apple's Bids To Reexamine Masimo Patents
Apple has failed to convince examiners at the U.S. Patent and Trademark Office that there are any new reasons to cancel claims in a pair of patents cited in a U.S. International Trade Commission ruling that blocks the tech giant from importing Apple Watches with a blood oxygen sensor.
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June 06, 2024
FTC Says Kroger Hasn't Turned Over Promised Documents
The Federal Trade Commission urged an administrative law judge on Tuesday to require Kroger to fork over documents related to negotiations for its divestiture plan amid the commission's in-house challenge to the grocer's merger with Albertsons, saying Kroger's prior representations that it would produce the materials "have proven false."
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June 06, 2024
SEC Sued For Info On Text Message Sweeps
The American Securities Association sued the U.S. Securities and Exchange Commission in Florida federal court on Thursday, pushing for the disclosure of evidence it says could shed light on how the regulator came to impose billions of dollars' worth of fines against firms whose employees communicate business-related information over unmonitored texting and chat apps.
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June 06, 2024
Pharma Co. Misled Investors On Seizure Drug Trial, Suit Says
Marinus Pharmaceuticals has been hit with a proposed shareholder class action alleging that the company understated the risks of an epilepsy drug trial and did not warn investors that trial enrollment would be suspended when it failed to meet certain criteria.
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June 06, 2024
Investors Say Fund Preyed On Alums For RICO Scheme
A group of Chinese and American investors alleged this week that they were ripped off to the tune of millions of dollars by a group of fraudsters who, through a series of fraudulent bank loans, bogus tax filings and false advertising, induced them into putting their money into a Los Angeles real estate project.
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June 06, 2024
8th Circ. Affirms Cigna Noncompete Applies To CVS Hire
The Eighth Circuit has backed a lower court finding that blocked a healthcare industry executive from making a move to CVS, handing a win to Cigna in a case over trade secrets.
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June 06, 2024
Victims Say Chiquita Paramilitary Payments Weren't Extortion
Attorneys for the families of people killed by right-wing paramilitaries in Colombia's banana-producing region asked jurors Thursday for an amount totaling tens of millions of dollars in damages as they closed out their Florida federal case against Chiquita, arguing the company willingly funded paramilitary groups.
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June 06, 2024
3 Takeaways From Probe That Halted WWE Staffer's Suit
The pause of a former World Wrestling Entertainment legal staffer's sex-trafficking lawsuit amid a probe by New York federal prosecutors suggests the civil claims could be the basis of forthcoming criminal charges for co-founder Vince McMahon or the organization, or both.
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June 06, 2024
FTC And DOJ Divvy Up Probes Of OpenAI, Microsoft, Nvidia
The Federal Trade Commission will investigate OpenAI and its investor Microsoft for potential competition issues, while the U.S. Department of Justice will look at chipmaker Nvidia's role in the quickly emerging artificial intelligence space, a source confirmed to Law360 on Thursday.
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June 06, 2024
Alaska Air Passengers Refile Suit Over Boeing Blowout
A group of passengers who were on an Alaska Airlines Inc. flight when a door plug blew out during a Jan. 5 flight have refiled their claims against the airline, Boeing Co. and Spirit AeroSystems Inc. in federal court — days after voluntarily dismissing their state court suit.
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June 06, 2024
Oil Cos. Stifle Bids For Tax Transparency, SEC Letters Show
At least three oil companies have stifled proposals initiated by the nonprofit Oxfam America for public country-by-country reporting of business activities, profits and taxes this year, according to letters from the U.S. Securities and Exchange Commission obtained by Law360.
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June 06, 2024
Judge OKs $42M Stent IP Verdict, Discards Willfulness Finding
A Delaware federal judge has said Boston Scientific was not entitled to a new trial in a case where it was told to pay $42 million for stent systems patent infringement, but threw out a finding of willful infringement.
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June 06, 2024
AI Co. UiPath's $70M Award Over Chinese Code Theft OK'd
A New York federal judge has affirmed an unopposed $70 million arbitration award in favor of U.S. artificial intelligence software and robotic process automation company UiPath against a China-based competitor over allegedly stolen source code.
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June 06, 2024
Meta Can't Get Section 230 Shield Over Scam Ads At 9th Circ.
The Ninth Circuit has ruled that Section 230 is "not limitless" and doesn't shield Meta from contract claims in a proposed consumer class action over Chinese vendors' scam ads on Facebook and Instagram, with one judge calling on the Ninth Circuit to rethink precedent that broadly interprets Section 230's scope.
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June 06, 2024
UK, US Team Up On Standard-Essential Patents
The U.S. Patent and Trademark Office and U.K. Intellectual Property Office each announced a five-year agreement Thursday to collaborate on policy for standard-essential patents.
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June 06, 2024
Ex-Autonomy CEO, VP Both Cleared In HP Criminal Fraud Trial
A California federal jury on Thursday acquitted former Autonomy CEO Michael Lynch and former finance Vice President Stephen Chamberlain of criminal fraud and conspiracy charges following an 11-week trial over allegations that the two conned HP into overpaying billions for the British tech company.
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June 06, 2024
Trump Media SPAC Sponsor Must Post Bond In Chancery Row
Dissenting members of the LLC sponsor for the blank check company that took Trump Media & Technology Group public in March must post a hefty 10% security for potential losses on more than 1.5 million shares — now trading at $46 — snarled in a sponsor control dispute.
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June 06, 2024
Biote Investors Sue Cooley, SPAC After Huge Merger Loss
Family trust investors in Biote Corp. have sued Cooley LLP and the "hormone optimization" company's top brass over the $700 million merger Biote completed with a special purpose acquisition company, saying the deal was a "disastrous transaction to divert approximately $70 million of merger consideration to themselves and gain control of an enterprise they did not build."
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June 06, 2024
Judge Who Took Israel Trip Recuses Self From Gaza Case
A Ninth Circuit judge on Thursday recused himself from a case over the Biden administration's support for Israel's military efforts in Gaza, suggesting he disagreed with Palestinian rights activists' claim that a sponsored trip to Israel disqualified him but nevertheless would step aside "out of an abundance of caution."
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June 06, 2024
MNC Capital Ups Bid For Vista Outdoor To More Than $3B
MNC Capital Partners on Thursday upped its bid to take over outdoor products company Vista Outdoor Inc. to over $3 billion after the company rejected MNC's previous buyout offers on multiple occasions due to its already-inked agreement to sell its sporting products division to Czech defense company Czechoslovak Group AS.
Expert Analysis
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Series
Teaching Yoga Makes Me A Better Lawyer
Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.
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A Vision For Economic Clerkships In The Legal System
As courts handle increasingly complex damages analyses involving vast amounts of data, an economic clerkship program — integrating early-career economists into the judicial system — could improve legal outcomes and provide essential training to clerks, say Mona Birjandi at Data for Decisions and Matt Farber at Secretariat.
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When The Platform Is A Product, Strict Liability Can Attach
A New York state court's recent ruling in Patterson v. Meta, holding that social media platforms can be considered products, appears to be the first of its kind — but if it is upheld and adopted by other courts, the liability implications for internet companies could be incredibly far-reaching, say attorneys at Patterson Belknap.
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Asset Manager Exemption Shifts May Prove Too Burdensome
The U.S. Department of Labor’s recent change to a prohibited transaction exemption used by retirement plan asset managers introduces a host of new costs, burdens and risks to investment firms, from registration requirements to new transition periods, say attorneys at Simpson Thacher.
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Bankruptcy Courts Have Contempt Power, Del. Case Reminds
A Delaware bankruptcy court recently held Camshaft Capital and its principal in contempt, serving as a reminder to bankruptcy practitioners and anyone else that appears before a bankruptcy judge that there are serious consequences for failing to comply with court orders, say Daniel Lowenthal and Kimberly Black at Patterson Belknap.
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7 Effects Of DOL Retirement Asset Manager Exemption Rule
The recent U.S. Department of Labor amendment to the retirement asset manager exemption delivers several key practical impacts, including the need for managers, as opposed to funds, to register with the DOL, say attorneys at Ropes & Gray.
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Opinion
Climate Change Shouldn't Be Litigated Under State Laws
The U.S. Supreme Court should reverse the Hawaii Supreme Court's October decision in Honolulu v. Sunoco that Hawaii could apply state law to emissions generated outside the state, because it would lead to a barrage of cases seeking to resolve a worldwide problem according to 50 different variations of state law, says Andrew Ketterer at Ketterer & Ketterer.
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4 Sectors Will Likely Bear Initial Brunt Of FTC 'Junk Fees' Rule
If the Federal Trade Commission adopts its comprehensive proposed rule to ban unfair or deceptive fees across the U.S. economy, many businesses — including those in the lodging, event ticketing, dining and transportation sectors — will need to reexamine the way they market and price their products and services, say attorneys at Skadden.
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Standardizing Early Case Appraisal In Securities Class Actions
While an initial economic assessment of securities class action litigation is far too often not undertaken, it's an important step in planning the defense strategy that can provide counsel, clients and insurers with a much clearer view of the case, and can be simplified through standardized analyses, says Assen Koev at SCA iPortal.
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Protecting IP May Be Tricky Without Noncompetes
Contrary to the Federal Trade Commission's view, trade secret law cannot replace noncompetes' protection of proprietary information because intellectual property includes far more than just trade secrets, so businesses need to closely examine their IP protection options, say Aimee Fagan and Ching-Lee Fukuda at Sidley.
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Del. Ruling Highlights M&A Deal Adviser Conflict Disclosures
The Delaware Supreme Court recently reversed the Court of Chancery's dismissal of challenges to Nordic Capital's acquisition of Inovalon, demonstrating the importance of full disclosure of financial adviser conflicts when a going-private merger seeks business judgment rule review, say attorneys at Debevoise.
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E-Discovery Quarterly: Recent Rulings On Text Message Data
Electronically stored information on cellphones, and in particular text messages, can present unique litigation challenges, and recent court decisions demonstrate that counsel must carefully balance what data should be preserved, collected, reviewed and produced, say attorneys at Sidley.
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Dual-Track IPO-M&A Exit Strategies For Life Science Cos.
A dual-track process for life sciences companies offers a proven path to securing favorable deal terms for an exit, and strategic moves can include running a crossover financing round in the lead-up, say attorneys at McDermott.
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Keeping Up With Class Actions: A New Era Of Higher Stakes
Corporate defendants saw unprecedented settlement numbers across all areas of class action litigation in 2022 and 2023, and this year has kept pace so far, with three settlements that stand out for the nature of the claims and for their high dollar amounts, says Gerald Maatman at Duane Morris.
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Fostering Employee Retention Amid Shaky DEI Landscape
Ongoing challenges to the legality of corporate diversity, equity and inclusion programs are complicating efforts to use DEI as an employee retention tool, but with the right strategic approach employers can continue to recruit and retain diverse talent — even after the FTC’s ban on noncompetes, says Ally Coll at the Purple Method.