Corporate

  • September 23, 2022

    3 Questions As Feds Flesh Out New Breach Reporting Rules

    Federal officials have a bevy of questions to answer as they fine-tune new rules that will require critical infrastructure entities to report cyber incidents, including which businesses will be covered and how they will incentivize companies to comply.

  • September 23, 2022

    Musk's Dim View Of Patents Ignores Reality For Most Cos.

    Tesla and SpaceX CEO Elon Musk recently declared that "patents are for the weak," and while that mindset might make some sense for the billionaire entrepreneur given the industries he works in, shunning patents is a risky strategy for most other companies, experts say.

  • September 23, 2022

    Musk Loses Bid For Privilege Waiver Amid Twitter Doc Fight

    The Delaware Chancery Court on Friday refused Tesla CEO Elon Musk's request for a "blanket" waiver of the attorney-client privilege Twitter Inc. has cited in refusing to hand over documents in litigation over Musk's attempt to get out of his $44 billion offer to buy the company.

  • September 23, 2022

    Deutsche Bank To Pay $26M To End Investor Suit Over Epstein

    Deutsche Bank has agreed to pay nearly $26.3 million to end a proposed class action from investors who accuse the German lender of causing its share price to drop through its dealings with bad actors such as Jeffrey Epstein, the investors told a New York federal court Friday.

  • September 23, 2022

    Lowe's Gets PAGA Suit Dismissed Thanks To Viking River

    A California federal judge cited a recent U.S. Supreme Court decision in concluding that an arbitration agreement precluded a Lowe's worker from litigating wage claims under California's Private Attorneys General Act, kicking the suit to arbitration.

  • September 23, 2022

    AIG Scores Early Win In Ex-Company Atty's Retaliation Suit

    A New York federal judge handed American International Group a win Friday in a lawsuit by the former head of its legal consulting arm, ruling the ex-employee's own statements doom his claims that he was retaliated against for reporting alleged fraud within the company.

  • September 23, 2022

    $2M Deal Gets Blessing In DOL's Self-Dealing ERISA Suit

    A New Jersey-based international design firm, its owner and her husband will pay more than $2 million to resolve U.S. Department of Labor allegations they mishandled the assets of the company's retirement plan by investing funds in banks tied to the husband, according to a settlement approved Friday.

  • September 23, 2022

    Chancery Rejects 'Ethereal' Steel Connect Settlement

    A Delaware court on Friday rejected a revised settlement to a Steel Connect Inc. shareholders' lawsuit challenging the logistics company's $476 million purchase of corporate marketing firm IWCO Direct in 2017, leaving Steel Connect shareholders with uncertainty as they head into a vote next week to take the company private.

  • September 23, 2022

    Employment Authority: Calif. Arbitration Law's Future On Hold

    Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on how a California law forbidding arbitration pacts as a condition of employment will face new challenges two years after it was enacted, how women in the legal profession are expected to perform unpaid "office housework," and how rail workers unions and railroads were able to avoid a strike — for now.

  • September 23, 2022

    DC Circ. Denies Citigroup Whistleblower's Award Challenge

    The D.C. Circuit on Friday denied a request to review the U.S. Securities and Exchange Commission's decision to split an $18.9 million award between a whistleblower and his co-worker, whose submitted information led to the agency's enforcement action and $189 million settlement with Citigroup, finding that the co-worker is eligible for the award because he was a joint whistleblower.

  • September 23, 2022

    Disney Financial, Ex-Analyst Settle Whistleblowing Suit

    A former analyst with Disney Financial Services who accused the company of firing her after she blew the whistle on alleged unlawful accounting practices has settled with the company.

  • September 23, 2022

    Lenders Tell 2nd Circ. Citibank's $500M Win Upends NY Law

    Revlon Inc. lenders are urging the full Second Circuit to hear their fight with Citibank as they try to keep $500 million the bank accidentally sent them in 2020, arguing Citibank's victory earlier this month unsettled established New York law.

  • September 23, 2022

    5 Parity Cases Benefits Lawyers Should Watch

    A group of lawsuits percolating up through the courts from patients who say insurers violated federal law by skimping on coverage for mental health and substance use disorder treatments will shed light on what such cases need to survive and what remedies plaintiffs can win, attorneys say.

  • September 23, 2022

    Brand Battles: Ralph's Ices Takes On Ralph Lauren Over TM

    In Law360's latest roundup of new actions at the Trademark Trial and Appeal Board, fashion label Ralph Lauren's bid to secure trademark rights for its "Ralph's Coffee" brand is facing opposition from popular New York ice shop Ralph's Famous Italian Ices — plus three other cases you need to know.

  • September 23, 2022

    Big Tech Wants DST Removed In US-Kenya Trade Deal

    The U.S. Trade Representative should seek commitments from Kenya's government to remove the country's digital services tax and not pursue unilateral measures during ongoing negotiations, a lobbying group representing companies such as Google, Amazon and Facebook said.

  • September 23, 2022

    Keystone XL Pipeline Claim Against US Set To Proceed

    The prominent French arbitrator Alexis Mourre has been tapped to preside over the international tribunal weighing the politically charged $15 billion case brought against the U.S. by the Canadian company TC Energy Corp. challenging the cancelation of the Keystone XL pipeline.

  • September 23, 2022

    Judge Trims Fannie, Freddie Investors' Stock Profit Suit

    A D.C. federal judge on Friday partially granted Fannie Mae and Freddie Mac summary judgment on the remaining claim in a class action alleging the government misstepped when tweaking stock purchasing agreements allowing it to "sweep" the companies' net worth.

  • September 23, 2022

    More JetBlue Workers Eye Unionization Over Pay, Conditions

    JetBlue ground workers fed up with the airline's pay rates, working conditions and discipline procedures might become the latest sector of its workforce to unionize, according to a Friday announcement from the International Association of Machinists on plans to pursue a representation election.

  • September 23, 2022

    Former EBay Exec Seeks House Arrest For Stalking Plea

    The last of seven former eBay workers to cop to cyberstalking charges for harassing a pair of e-commerce bloggers argued Friday for a no-prison sentence, saying his role in the scheme was limited to two days of surveillance.

  • September 23, 2022

    PE Giant Advent Hires Ropes & Gray Atty For Top Legal Spot

    Private equity firm Advent International Corp. has named Ropes & Gray partner Amanda McGrady Morrison as managing director, a job in which she will assume the responsibilities of general counsel and chief legal officer, the firm said Thursday.

  • September 23, 2022

    Jury Says LabCorp Owes $272M For Infringing Prenatal Test IP

    A federal jury in Waco, Texas, found on Friday afternoon that LabCorp, one of the largest chains of clinical lab providers in the world, owes more than $272 million to a small Maryland biotech business for willfully infringing a patent covering a method of testing for genetic disorders during pregnancy.

  • September 23, 2022

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    Federal regulators ordered The Boeing Co. to pay $200 million and its former CEO to personally pay another $1 million over misleading statements about the 737 Max jet's safety, and Tesla Inc. is countersuing the California Civil Rights Department, claiming the agency failed to follow proper procedures in its bias claim against it. These are some stories in corporate legal news you may have missed in the past week.

  • September 23, 2022

    Guess Board Ignored Exec's Harassment, Del. Suit Alleges

    Board members at Guess Inc. have tolerated "sustained, despicable, and abusive sexual misconduct" by the fashion company's co-founder Paul Marciano for more than four decades, harming the company and its shareholders through their continued inaction, a Delaware Chancery Court complaint alleges.

  • September 23, 2022

    California Jewelers' COVID-19 Coverage Suit Tossed

    Los Angeles-area jewelry stores were the latest businesses to have their case for COVID-19 loss coverage tossed by a California federal court judge who found, like many others before him, that the virus does not cause the physical damage needed to trigger coverage.

  • September 23, 2022

    FTC's Noah Phillips Reflects On Tenure At Changing Agency

    Commissioner Noah Joshua Phillips will soon leave the Federal Trade Commission, having declared his plans to depart sometime this fall and capping off four-and-a-half years at the agency under Trump-era Chairman Joseph Simons, acting Chairwoman Rebecca Kelly Slaughter and now Chair Lina Khan.

Expert Analysis

  • Lessons From 3 Chancery Books And Records Decisions

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    Attorneys at Fried Frank discuss three recent Delaware Chancery Section 220 decisions, each of which amplifies stockholders' broad right to request corporate books and records, and offer important takeaways for practitioners concerning email, confidentiality and documentation.

  • AML Regulation Of Lawyers Is Imminent And Controversial

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    The U.S. House of Representatives' recently passed National Defense Authorization Act subjects lawyers engaged in certain financial-related activities to anti-money laundering regulation under the Bank Secrecy Act, which could pit lawyers against clients in ways harmful to the rule of law and administration of justice, says Jeremy Glicksman at the Nassau County District Attorney’s Office in New York.

  • Overseas Cos. Are Well Within Reach Of SEC Enforcement

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    As suspect payments, false disclosures and trading schemes metastasize and seep across borders, the U.S. Securities and Exchange Commission has become the chief participant in a robust international enforcement network cracking down on individuals and entities based overseas, says Eugene Goldman at McDermott.

  • Biden Order's New Lens Puts Foreign Transactions In Focus

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    President Joe Biden's landmark executive order on national security factors that will be considered by the Committee on Foreign Investment in the United States provides a new perspective for parties addressing questions and concerns on transactions, and reaffirms the role of CFIUS in national security, say attorneys at Simpson Thacher.

  • Ex-Alstom Exec's 2nd FCPA Acquittal Limits Agency Theories

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    The Second Circuit recently upheld the second post-trial acquittal of an ex-Alstom executive on Foreign Corrupt Practices Act bribery charges, imposing a significant evidentiary burden on U.S. regulators arguing agency-based theories of FCPA jurisdiction, say attorneys at Covington.

  • SEC's 'Regulation By Enforcement' Vision Coming Into Focus

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    Remarks by U.S. Securities and Exchange Commission leadership at the recent SEC Speaks conference suggest that the commission's "regulation by enforcement" strategy has important implications for market participants on many different fronts, say attorneys at Perkins Coie.

  • FTC Privacy Suit Tests Agency's Regulatory Authority

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    The Federal Trade Commission's recent lawsuit against Kochava — which the agency claims is unlawfully selling geolocation information — pits an issue of great public concern against the statutory limits of the FTC's authority and the ability of the president to authorize executive agency action, say attorneys at McDermott.

  • What Del. Officer Exculpation Law Means For D&O Insurance

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    Following a recent Delaware code amendment to allow corporate exculpation of officers, businesses considering whether to update their articles of incorporation accordingly should factor in the potential benefits respecting the availability and cost of directors and officers insurance, say Bryan Coffey and Peter Gillon at Pillsbury.

  • How SEC's Climate Proposal Could Affect Litigation Risk

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    The U.S. Securities and Exchange Commission's proposed rule on climate-related disclosures could increase companies' risk of being targeted by litigation — but there are also a number of legal obstacles that could limit plaintiffs' ability to prove their claims and establish damages, say attorneys at Cleary.

  • The Pros And Cons Of US-China Auditing Oversight Deal

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    A recent agreement between the Public Company Accounting Oversight Board and Chinese securities regulators opens the door for U.S.-listed companies audited by China-based accounting firms to continue trading on U.S. exchanges, but may also increase companies' enforcement risk, say attorneys at Morgan Lewis.

  • Anticipating Expansion Of FTC's Section 5 Antitrust Authority

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    The Federal Trade Commission is considering implementing rulemaking to clarify the conduct that it will consider an antitrust violation under Section 5, a move that could expand the agency's reach with consequential results for businesses and individuals, say attorneys at Duane Morris.

  • Key Adaptations For Law Firms Amid Quiet Quitting Movement

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    While quiet quitting may not be sustainable at law firms with billable hour requirements, there are specific steps law firms should take to maintain engagement and otherwise respond to the trend's underlying message that associates won't spend all their waking hours at work if they don't feel it's worthwhile, says Meredith Kahan at Whiteford Taylor.

  • Creating A Hybrid Work Policy? Be Intentional And Inclusive

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    The pandemic has changed expectations for the future of work forever, and as more employees demand hybrid working options, law firms must develop policies and models that are intentional, inclusive and iterative to lead the industry into the future, says Manar Morales at the Diversity & Flexibility Alliance.

  • How Cos. Can Adhere To New Calif. Kids Online Privacy Law

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    In order to comply with a new California law aimed at protecting the well-being, data and privacy of children online, businesses must take steps to estimate the age of young users, configure default privacy settings to a higher level, and design products to mitigate risk, says Charlotte Lunday at Hintze Law.

  • Ransomware Payment Lessons Amid DOJ Recovery Success

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    The U.S. Department of Justice’s recent successes clawing back ransom payments made to hacking groups provide companies an additional factor to consider when deciding whether to engage with law enforcement after experiencing a breach, whether to pay a ransom demand, and whether to try to recover the payment, says Tyler Bridegan at Wiley.

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