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May 14, 2024
DLA Piper Expands To Brazil With New São Paulo Office
DLA Piper announced that it is growing its Latin American operations with a newly opened location in Brazil's largest city, São Paulo.
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May 14, 2024
Legal Insurers See 'All-Time High' In Price Tag Of Claims
Some of the nation's largest legal insurance companies are reporting an unprecedented rise in "claim severity," according to survey data released Tuesday, with 11 of 13 insurers reporting paying claims in excess of $100 million in the past two years.
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May 14, 2024
Morgan Lewis NY Corporate Partner, Family Man Dies
Jonathan D. Morris, a deputy leader of Morgan Lewis & Bockius LLP's global corporate and business transactions practice, passed away Monday morning at 50, the firm said Tuesday.
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May 14, 2024
Katten Adds M&A Litigation Practice Chair From DLA Piper
Katten Muchin Rosenman LLP has added an experienced mergers and acquisitions partner from DLA Piper in Texas, the firm said Tuesday.
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May 14, 2024
Carbon Capture Co.'s $1.8B SPAC Deal Sparks Chancery Suit
Stockholders who lost big after a blank-check company took carbon-capture venture LanzaTech NZ Inc. public in a purportedly $1.8 billion reverse-merger in February 2023 have sued for damages in Delaware's Court of Chancery, alleging disclosure failures and other defects prior to closing.
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May 14, 2024
Judge Nixes In-House Atty's $7.5M Suit Against Client's Estate
A Connecticut federal judge has determined the $7.5 million vexatious litigation claims a onetime in-house counsel filed against the estate of a former client were served weeks too late, ending a nearly seven-year-old case.
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May 14, 2024
Coverage Recap: Day 13 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 Tuesday, day 13 of the trial.
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May 14, 2024
Republican AGs Say EEOC Harassment Guidance Oversteps
A coalition of 18 Republican state attorneys general asked a Tennessee federal judge to scrap recently finalized guidance on workplace harassment issued by the U.S. Equal Employment Opportunity Commission, arguing its protections surrounding gender identity amount to government overreach.
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May 14, 2024
Chinese Drug Co. Sanctioned After 'Tortuous' 3-Year Info Fight
Chinese drug firm Zhejiang Huahai Pharmaceutical Co. Ltd. has been hit with sanctions after its chief executive officer failed to sit for a court-ordered deposition in sprawling multidistrict litigation taking place in New Jersey over generic drugs that U.S. authorities say were contaminated with carcinogens.
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May 14, 2024
What's Behind 'Nuclear' Verdicts? Skeptical Juries, Attys Say
Jurors becoming more skeptical of corporations are handing down sky-high verdicts, and trial attorneys say it's forcing a shift in the strategies they employ as they aim to score — or prevent — so-called nuclear verdicts.
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May 14, 2024
EU Finance Ministers Strike Deal On Withholding Tax Refunds
European Union finance ministers agreed Tuesday to a withholding tax refund law, as previous holdouts Poland and the Czech Republic withdrew their objections.
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May 14, 2024
Scott + Scott Opens Del. Office With Corporate Law Focus
Global firm Scott + Scott Attorneys at Law LLP announced Tuesday the launch of an office in Delaware, giving it nine locations in the U.S.
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May 14, 2024
Biden More Than Doubles Tariffs On Chinese EVs, Solar Cells
The U.S. will more than double tariffs on a range of Chinese goods, including electric vehicles and their batteries, steel, semiconductors and solar cells, in response to allegedly unfair trade practices and overproduction, the White House announced Monday.
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May 13, 2024
11th Circ. Says Class Attys Self-Dealt In $35M TCPA Settlement
The Eleventh Circuit on Monday dismissed a proposed $35 million settlement of a class action alleging GoDaddy.com violated the Telephone Consumer Protection Act by sending unwanted marketing texts, saying the deal may have come by through nefarious means.
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May 13, 2024
Tesla Threatened To Fire Holland & Knight, Law Prof Says
Tesla tried to bully a law professor out of filing an amicus brief in investors' suit over Elon Musk's $56 billion compensation plan, in part by threatening to fire the company's longtime outside counsel at Holland & Knight LLP if the professor submitted his brief, according to a filing Monday in Delaware.
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May 13, 2024
16 States Sue To Block Calif.'s 'Clean Fleets' Rule For Trucks
Over a dozen U.S. states filed a constitutional challenge in California federal court Monday against a Golden State regulation requiring commercial truck operators to move to zero-emission electric-vehicle fleets, arguing it would disrupt the global supply chain, raise costs, and illegally enforce emission control standards, in violation of federal laws.
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May 13, 2024
Irked Autonomy Judge Vents On HP Fraud Trial's Slow Pace
U.S. District Judge Charles Breyer on Monday blasted lawyers for the government and two former Autonomy Corp. PLC executives in a criminal fraud case over the trial's slow progress, saying he's "annoyed," but also "complicit" because he "did not take more of a controlling posture."
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May 13, 2024
Chamber Asks Texas Judge To Stop FTC Noncompete Ban
The U.S. Chamber of Commerce asked a Texas federal judge to issue a court order stopping the Federal Trade Commission's new noncompete rule from going into effect while litigation challenging the ban plays out, arguing the rule's enforcement would irreparably harm businesses and their employees.
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May 13, 2024
CFTC Hits Crypto Firm With First-Ever Registration Claims
A Seychelles-incorporated entity has agreed to pay nearly $1.8 million in penalties and disgorgement to end U.S. Commodity Futures Trading Commission allegations it failed to register as a futures commission merchant in what the CFTC described Monday as a first-of-its-kind action involving digital asset exchanges.
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May 13, 2024
Kabbage Inks 2 FCA Deals With Feds Totaling $120M
Bankrupt online lender Kabbage Inc. has agreed to pay $120 million in two separate deals to resolve allegations it submitted thousands of false claims for loan forgiveness and operated without adequate fraud controls in place, the U.S. Department of Justice announced Monday.
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May 13, 2024
USPTO Eyes Change To Patent Applicants' Disclaimer Practice
The U.S. Patent and Trademark Office is looking to add a requirement for patent applicants filing so-called terminal disclaimers in order to overcome rejections by patent examiners over obviousness-type double patenting, a move that lawyers and a former USPTO official say could change the agency's approach considerably, especially for patents covering brand-name drugs.
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May 13, 2024
Deepfakes Could Be Arbitration's Next Gen AI Shake-Up
In a high-stakes arbitration, lawyers for one of the companies present what they say is surveillance video of a bribe being accepted by its opponent's president. They argue the video presents incontrovertible evidence that the case should be decided in their client's favor — and a tribunal might be inclined to agree. But what if it turns out that the video is a fake, generated by artificial intelligence?
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May 13, 2024
FTC Can't Modify $5B Meta Privacy Deal, DC Circ. Told
Meta Platforms Inc. told the D.C. Circuit on Monday that the Federal Trade Commission lacks the ability to unilaterally modify a $5 billion privacy settlement, contending that the courts are the ones responsible for enforcing the agreement.
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May 13, 2024
SPAC Investor Says Insiders Overvalued Satellite Co. Deal
An investor has sued a blank-check company and several of its top brass in Delaware Chancery Court, alleging the defendants protected their buy-ins while leaving public investors to suffer losses following a merger with satellite imaging company BlackSky Holdings Inc.
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May 13, 2024
Wash. Hospital Scores Exit In Facebook Privacy Suit, For Now
A Washington federal judge has tossed a proposed class action accusing a Seattle-area hospital of sharing patients' confidential health information by using Facebook browser tracking tools, ruling on Monday the plaintiff has failed to show that her own private information was input into the website and shared with a third party.
Expert Analysis
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A Key Pitfall Of Restricted Subsidiaries In Loan Agreements
In loan agreements, the treatment afforded to non-loan party restricted subsidiaries' EBITDA presents subtle, but serious threats to lenders that require thoughtful attention in underwriting and drafting, say David Ebroon at JPMorgan Chase and Jared Zajac at Cadwalader.
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Del. Lessons For Director-Nominees On Sharing With Activists
The Delaware Chancery Court's recent decision in Icahn Partners v. deSouza finding that a director wasn't permitted to share certain privileged information with the activist stockholders that nominated him shows the need for companies to consider imposing appropriate confidentiality requirements on directors, say attorneys at Sullivan & Cromwell.
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3 Lessons From Family Dollar's Record $41.7M Guilty Plea
Family Dollar's recent plea deal in connection with a rodent infestation at one of its distribution facilities — resulting in the largest ever monetary criminal penalty in a food safety case — offers key takeaways for those practicing in the interconnected fields of compliance, internal investigations and white collar defense, says Jonathan Porter at Husch Blackwell.
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This Earth Day, Consider How Your Firm Can Go Greener
As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.
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Opinion
Anti-DEI Complaints Filed With EEOC Carry No Legal Weight
Recently filed complaints against several companies' diversity, equity and inclusion programs alleging unlawful discrimination against white people do not require a response from the U.S. Equal Employment Opportunity Commission, and should not stop employers from rooting out ongoing discriminatory practices, says former EEOC general counsel David Lopez.
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New Proposal Signals Sharper Enforcement Focus At CFIUS
Last week's proposed rule aimed at broadening the Committee on Foreign Investment in the United States' enforcement authority over foreign investments and increasing penalties for violations signals that CFIUS intends to continue expanding its aggressive monitoring of national security issues, say attorneys at Kirkland.
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Oracle Ruling Underscores Trend Of Mootness Fee Denials
The Delaware Chancery Court’s recent refusal to make tech giant Oracle shoulder $5 million of plaintiff shareholders' attorney fees illustrates a trend of courts raising the standard for granting the mootness fee awards once ubiquitous in post-merger derivative disputes, say attorneys at Troutman Pepper.
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Traversing The Web Of Nonjudicial Grievance Mechanisms
Attorneys at Covington provide an overview of how companies can best align their environmental and human rights compliance with "hard-law" requirements like the EU's recently approved Corporate Sustainability Due Diligence Directive while also navigating the complex global network of existing nonjudicial grievance mechanisms.
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Questions Persist After Ruling Skirts $925M TCPA Award Issue
After an Oregon federal court's recent Wakefield v. ViSalus ruling that the doctrine of constitutional avoidance precluded it from deciding whether a $925 million Telephone Consumer Protection Act damages award was constitutionally sound, further guidance is needed on when statutory damages violate due process, says Michael Klotz at O'Melveny.
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An NYDFS-Regulated Bank's Guide To Proper Internal Audits
As certification deadlines for compliance with the New York State Department of Financial Services’ transaction monitoring and cybersecurity regulations loom, lawyers should remember that the NYDFS offers no leeway for best efforts — and should ensure robust auditing and recordkeeping processes for clients, say attorneys at Arnall Golden.
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Opinion
Post-Moelis Del. Corp. Law Proposal Would Hurt Stockholders
The proposed Delaware General Corporation Law amendment in response to the Court of Chancery's recent opinion in West Palm Beach Firefighters' Pension Fund v. Moelis would upend the foundational principle of corporate law holding that directors govern corporations in the interest of stockholders — and the potential harm would be substantial, say attorneys at Block & Leviton.
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Exploring Patent Trends In Aerospace Electrification
As blue-chip companies lead the charge to power large-scale commercial airplanes with electricity, and startups advance the trend on a regional scale, patent applications directed at improving energy storage and electric motor efficiency are on the rise, say attorneys at Finnegan.
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Blocked JetBlue-Spirit Deal Illustrates New Antitrust Approach
The U.S. Department of Justice’s recent successful block of a merger between JetBlue Airways and Spirit Airlines demonstrates antitrust enforcers’ updated and disparate approach to out-of-market benefits versus out-of-market harms, say Lisa Rumin and Anthony Ferrara at McDermott.
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Back Labels In False Ad Cases Get Some Clarity In 9th Circ.
Courts in the Ninth Circuit have recently delivered a series of wins to advertisers, making clear that any ambiguity on the front of a product's package can be resolved by reference to the back label — which guarantees defendants a powerful tool to combat deceptive labeling claims, say attorneys at Patterson Belknap.
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At 'SEC Speaks,' A Focus On Rebuilding Trust Amid Criticism
At the Practising Law Institute's SEC Speaks conference last week, U.S. Securities and Exchange Commission leadership highlighted efforts to rebuild and restore trust in the U.S. capital markets by addressing investor concerns through regulatory measures and enforcement actions, emphasizing the need for cooperation from market participants, say attorneys at Perkins Coie.