Corporate

  • October 21, 2021

    Bank Regulators Eye Updated Guidance To Fight Bias In AI

    Regulators and legal experts called for collaboration between federal and state entities to address the use of artificial intelligence in financial services on Thursday, as they catch up with the latest advances, weigh potential new industry guidance and seek to prevent discriminatory practices.

  • October 21, 2021

    Chubb Says Apple TV Show Got Paid For COVID-19 Losses

    A Chubb unit urged a California federal judge Thursday to hand it an early win in a production company's $44 million lawsuit seeking to recover COVID-19-related losses from Apple TV+'s "The Morning Show" production delays, arguing it already paid out $1 million and the company isn't entitled to anything more.

  • October 21, 2021

    Sen. Sinema Mum On Corporate Tax Hike, Rep. Neal Says

    Senate Democrat Kyrsten Sinema of Arizona supports expanding renewable energy, family leave and child care, but remains noncommittal on raising corporate rates to fund the Democrats' Build Back Better bill, House Ways and Means Chair Richard Neal said Thursday.

  • October 21, 2021

    Del. Justices Uphold $275M AstraZeneca Drug Trial Debt Toss

    Delaware's Supreme Court on Thursday upheld without elaboration a Chancery Court finding that cleared AstraZeneca PLC of liability for $275 million in post-merger cancer drug development "milestone" payments to investors in biopharmaceutical company Amplimmune LLC.

  • October 21, 2021

    ​​​​​​​Google Slashes Play Store Fees Amid Antitrust Pressure

    Google announced Thursday it is lowering fees for a larger swath of the apps on its Play Store for Android, which comes amid pressure from antitrust enforcers and private litigants that say the platform hinders competition.

  • October 21, 2021

    Chamber Seeks Full 9th Circ. Look At Forced Arbitration Ban​​​​​​​

    The U.S. Chamber of Commerce asked the Ninth Circuit for a full rehearing of its case challenging a California ban on mandatory arbitration agreements, arguing Wednesday that the split panel's decision in September creates a circuit split while allowing the Golden State to sidestep the Federal Arbitration Act.

  • October 21, 2021

    1st Execs Set To Face Trial In Broiler Chicken Price-Fix Probe

    The government is set to put 10 people on trial Monday in Colorado federal court over their alleged role in a sprawling scheme among some of the nation's largest poultry producers to fix the price of chicken sold in restaurants, grocery stores and elsewhere. The case marks one in a series targeting the broiler chicken industry, stemming from an ongoing criminal antitrust investigation.

  • October 21, 2021

    CAA Says Affiliated FM Should Cover Its Pandemic Losses

    Famed Hollywood talent agency CAA has sued Affiliated FM Insurance Co. seeking coverage of its COVID-19 business-interruption losses, in a complaint removed Wednesday to California federal court.

  • October 21, 2021

    Venue Change On Table For J&J Talc Unit's Ch. 11

    A North Carolina bankruptcy judge is pondering moving the Chapter 11 case of the Johnson & Johnson spinoff holding the company's talc liability to New Jersey or Delaware, saying his court may not be the best place to decide if the bankruptcy can stop talc suits against the parent company.

  • October 21, 2021

    McKesson Nears Win On Some Securities Fraud Claims

    A California federal judge appeared inclined Thursday to grant McKesson summary judgment on some securities fraud claims over its alleged participation in a generic drug price-fixing scheme, asking repeatedly what difference it would make to shareholders if they knew McKesson's artificial prices were caused by anti-competitive conduct and not inflation.

  • October 21, 2021

    Journalist Orgs Seek 9th Circ. Redo Of AB 5 Challenge

    The full Ninth Circuit should reconsider a panel decision that nixed a pair of journalist organizations' challenge to a California worker classification law, the groups argued, saying the panel incorrectly held that the law did not violate free-speech rights.

  • October 21, 2021

    CFPB Targets Amazon, Facebook, Others In Payments Probe

    The Consumer Financial Protection Bureau has ordered a group of tech giants including Amazon, Facebook and Google to turn over information related to their payments-related systems and products, giving the companies just under two months to hand over the details as part of a consumer protection sweep announced Thursday.

  • October 21, 2021

    CFTC Makes History With $200M Whistleblower Award

    The Commodity Futures Trading Commission said Thursday that it has awarded nearly $200 million to a single whistleblower, a historic bounty that roused concerns from one commissioner but that whistleblower attorneys said will bolster the agency's tipster program.

  • October 20, 2021

    9th Circ. Nixes Massage Envy's $10M Deal Over Counsel Fees

    The Ninth Circuit tossed spa chain Massage Envy Franchising LLC's $10 million voucher deal to resolve class claims over increased membership fees, saying on Wednesday the lower court needs to reexamine if the settlement provides preferential treatment to the class counsel.

  • October 20, 2021

    Holmes Was Coached By Marketing Firms, Jury Told

    A California federal jury hearing the criminal fraud case against former Theranos CEO Elizabeth Holmes viewed emails Wednesday showing that she was coached by marketing firms about what to say to journalists and how to avoid unwelcome questions that are "needlessly controversial."

  • October 20, 2021

    Bayer Will Have To Face Investor Suit Over Roundup Litigation

    A California federal judge declined to dismiss a suit against Bayer AG in which investors claim the company downplayed the significance of litigation related to the weedkiller Roundup that it faced after acquiring Monsanto in 2018.

  • October 20, 2021

    Eli Lilly Must Pay Royalties In Diabetes Drug Row, Judge Says

    A federal judge has determined that Eli Lilly owes an Arizona company a portion of the billions of dollars in sales from its insulin brands, citing a 1992 royalty agreement that allowed the pharmaceutical giant to use a certain strain of yeast to help develop the drugs.

  • October 20, 2021

    DC Seeks To Add Facebook CEO To Data Privacy Suit

    Facebook CEO Mark Zuckerberg played a bigger role in decisions that led up to the Cambridge Analytica data harvesting scandal than previously thought, the District of Columbia's attorney general said Wednesday in asking to add Zuckerberg to a data privacy suit in D.C. Superior Court.

  • October 20, 2021

    Chancery Won't Delay CytoDyn Board Meeting

    Delaware's Chancery Court refused on Wednesday to delay a CytoDyn Inc. annual meeting pending an appeal sought by a dissident slate of director candidates who earlier this month failed to convince a vice chancellor to order their names onto the company's board election ballots.

  • October 20, 2021

    SEC's Lee Pushes For 'Global Solution' To Climate Disclosure

    The U.S. Securities and Exchange Commission's Allison Herren Lee on Wednesday pushed for a "global solution" to standardize the way companies report sustainability-related risks, as the agency works to "swiftly" propose its own new rules for registered firms by the end of the year. 

  • October 20, 2021

    Sen. Blumenthal Wants Zuckerberg To Testify On Teen Safety

    Sen. Richard Blumenthal, D-Conn., on Wednesday asked the heads of Facebook and its subsidiary Instagram to answer questions about the mental health impact their platforms have on minors, which comes weeks after a whistleblower told senators the social media giant has deliberately ignored red flags.

  • October 20, 2021

    Judge Will Rethink SEC's Partial Win Against Ex-Biotech CEO

    A Maryland federal judge has agreed to reconsider the U.S. Securities and Exchange Commission's partial win against a former CEO of biotech company Osiris who has been accused of securities fraud.

  • October 20, 2021

    US, EU Take Aim At Chinese Policies During WTO Review

    The U.S., European Union and other World Trade Organization members voiced serious concerns about a litany of Chinese trade practices at a review in Geneva on Wednesday, warning that Beijing's state-run economy is badly distorting global trade flows.

  • October 20, 2021

    1st Circ. Clears Vax Mandate For Maine Health Care Workers

    A unanimous First Circuit panel has refused to freeze Maine's COVID-19 vaccine requirement for health care workers, finding that the mandate is constitutional even though it doesn't allow for religious exemptions.

  • October 20, 2021

    Troutman Pepper Nabs Mass. Prosecutor For White Collar Unit

    A former federal prosecutor from Massachusetts who specializes in white collar crime investigations has rejoined Troutman Pepper's Boston office after more than a decade in government and at a multilateral development bank, the law firm announced.

Expert Analysis

  • What SEC's Growing Whistleblower Incentives Mean For Cos.

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    The U.S. Securities and Exchange Commission recently surpassed $1 billion in total awards made to more than 200 individual whistleblowers — two important milestones that reflect the commission’s embrace of whistleblower tips as a source of market information on corporate wrongdoing, and highlight the need for companies to reevaluate their internal reporting frameworks, say attorneys at Arnold & Porter.

  • How Defendants Can Predict, Mitigate DOJ Labor Cartel Fines

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    Given President Joe Biden's focus on antitrust enforcement in the labor markets, defendants in no-poach and wage-fixing prosecutions can anticipate aggressive volume-of-commerce calculations, and should look to broader criminal antitrust case law to determine how fine and sentencing enhancements may be applied, say attorneys at Baker McKenzie.

  • Avoiding Preemployment Pitfalls In A Hot Job Market

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    In light of the pandemic’s turbulent effect on the labor market, employers may want to pay careful attention in preemployment negotiations to avoid liability exposure during verbal discussions and when drafting written agreements, says Travis Tatko at Capell Barnett.

  • Contractual Limits On Liability Only Go So Far In Delaware

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    The recent Delaware Chancery Court ruling in Online HealthNow v. CIP OCL reiterates that contractual fraud claims cannot be eliminated with the stroke of a pen, and serves as a reminder that Delaware courts will not permit statutory limitations on liability to excuse intentional fraud, say attorneys at Shearman.

  • ESG Disclosure Mandate Faces Hurdles Regardless Of Path

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    While the U.S. Senate is unlikely to sign onto the Corporate Governance Improvement and Investor Protection Act, which would require companies to make more comprehensive environmental, social and governance disclosures, the U.S. Securities and Exchange Commission may attempt ESG disclosure rulemaking without congressional approval — but it won't be easy, say attorneys at King & Spalding.

  • Financial Planning Tips For Retiring Law Firm Partners

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    As the pandemic accelerates retirement plans for many, Michael Delgass at Wealthspire Advisors outlines some financial considerations unique to law firm partners, including the need for adequate liquidity whether they have capital accounts or pension plans.

  • Preparing Remote Deposition Defenses For Corporate Entities

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    As remote depositions will remain common for the foreseeable future, attorneys defending a deposition notice or subpoena to a corporation should implement certain strategies to mitigate unique challenges, such as less planning time and increased difficulty of establishing rapport with witnesses, say attorneys at Sidley.

  • How To Mitigate Antitrust Risk In ESG Efforts

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    Recent statements from Jonathan Kanter, nominee to lead the U.S. Department of Justice Antitrust Division, suggest that companies will need to assess whether environmental, social and governance policies are unrelated to competition and prepare accordingly for merger reviews, say Michael Murray and Tara Giunta at Paul Hastings.

  • DOL's Proposed Rule Doesn't Make ESG Investment Risk-Free

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    A proposed U.S. Department of Labor rule aimed at Employee Retirement Income Security Act fiduciaries who take climate change into account should not be viewed as a green investment free pass, as prudent investors must consider the potential for bad returns if climate mitigation efforts fail, says J.B. Heaton at One Hat Research.

  • Cannabis M&A: How To Prepare For Regulatory Due Diligence

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    Cannabis-related businesses that are being acquired or receiving investments or loans should facilitate a robust due diligence process — including keeping records of licenses, regulatory correspondence and standard operating procedures — to insulate themselves from, and ensure other parties are well aware of, regulatory risks, say attorneys at Saul Ewing.

  • Preserving Disgorgement Tax Deductibility In SEC Settlements

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    The U.S. Securities and Exchange Commission recently added language to its enforcement orders that could affect a settling party's ability to deduct certain disgorgement payments, but proper planning can help them satisfy Internal Revenue Service prerequisites, say attorneys at Sidley.

  • How The Global Tax Agreement Could Backfire For Biden

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    If the $3.5 trillion spending package fails, the federal tax code will not conform to the recent 15% global minimum tax agreement spearheaded by the U.S., which would embarrass the Biden administration and could lead to retaliatory tax measures by other nations, says Alex Parker at Capitol Counsel.

  • Avoiding Fraudulent Transfer Liability In Leveraged Buyouts

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    In a record-setting year for leveraged buyouts, private equity firms should look to 2007 — the previous record year for acquisitions — for lessons in avoiding fraudulent transfer claims in potential target bankruptcies, which could unravel the current boom, say attorneys at Reed Smith.

  • Perspectives

    Why Law Schools Should Require Justice Reform Curriculum

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    Criminal defense attorney Donna Mulvihill Fehrmann argues that law schools have an obligation to address widespread racial and economic disparities in the U.S. legal system by mandating first-year coursework on criminal justice reform that educates on prosecutorial misconduct, wrongful convictions, defense 101 and more.

  • What Attorneys Should Know About Blockchain Disputes

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    As blockchain companies on the product supply chain rapidly adopt new technologies, commercial counsel can prepare to assist blockchain clients and consumers in mitigating transactional disputes by becoming familiar with smart contract code, jurisdictional issues and new dispute resolution schemes, says Michael Hewitt at Sideman & Bancroft. 

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