Corporate

  • December 02, 2022

    AT&T To Pay $6.25M To End SEC Suit Alleging Selective Leaks

    AT&T Inc. has agreed to pay $6.25 million to end U.S. Securities and Exchange Commission claims that the telecommunications giant and three of its mid-level executives broke the law by selectively leaking company information to Wall Street analysts, the parties told a New York federal court Friday.

  • December 02, 2022

    Fed Is Latest To Pitch Climate Risk Guidance For Big Banks

    The Federal Reserve on Friday released a proposal laying out high-level guidance on climate risk management for large banks, becoming the latest banking agency to begin sketching out expectations for financial institutions' efforts to prepare themselves for potential climate change impacts.

  • December 02, 2022

    Google Escapes Revised 'LockBox' Privacy Dispute For Good

    A California federal judge has permanently tossed a proposed class action accusing Google of using a secret program called "Android Lockbox" to unlawfully collect data from non-Google apps on Android devices, finding that the plaintiffs had failed to remedy pleading deficiencies that previously doomed their claims. 

  • December 02, 2022

    DHS Cyber Review Board To Probe Lapsus$ Extortion Crew

    A review board made up of U.S. Department of Homeland Security officials and private-sector cybersecurity experts said Friday that it will investigate a set of high-profile hacks attributed to a global cybercrime gang known as Lapsus$ and release advice on how to deal with the group's extortion tactics.

  • December 02, 2022

    3 Firms Steer Galaxy Digital's Buyout Of Celsius' GK8 Unit

    Cryptocurrency financial services company Galaxy Digital Holdings Ltd. on Friday said it intends to acquire digital asset custodian GK8 as a result of a sale process executed in connection with Celsius Network LLC's Chapter 11 bankruptcy proceedings, in a deal guided by Orrick Herrington & Sutcliffe LLP, Goldfarb Seligman and Kirkland & Ellis LLP.

  • December 02, 2022

    ABB To Pay $327M To End S. Africa Power Plant Bribery Probe

    Swiss industrial giant ABB Ltd. has agreed to pay $327 million to end probes from U.S., South African and Swiss authorities into claims that it bribed a high-ranking official at the South Africa-owned energy company Eskom Holdings Ltd. in order to land contracts for multiple projects.

  • December 02, 2022

    Elizabeth Holmes Appeals Conviction, Sentence To 9th Circ.

    Ex-Theranos CEO Elizabeth Holmes notified a California federal judge Friday that she's appealing her investor fraud conviction and 11-year prison sentence to the Ninth Circuit, sending the closely watched criminal case to the appellate court for review after more than four years before the trial court.

  • December 02, 2022

    Employment Authority: Fallout Of Congress' Rail Intervention

    Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on the repercussions from congressional action in the U.S. rail dispute, how minimum wage protection measures for gig workers could impact their ability to reach full employee status, and what employers should consider when handling addiction-related workplace issues.

  • December 02, 2022

    Amazon Workers Drop Newly Revived COVID Safety Suit

    Amazon workers in Staten Island voluntarily dropped claims Friday that the e-commerce giant's COVID-19 safety protocols violated state law, less than two months after the Second Circuit reversed their suit's dismissal.

  • December 02, 2022

    TransUnion Faces Del. Investor Suit For CFPB Order Failures

    A stockholder of credit reporting agency TransUnion has opened a Delaware Court of Chancery derivative suit against the company's board and top officers, seeking damages on the company's behalf for failures to comply with a Consumer Financial Protection Bureau order issued in 2017.

  • December 02, 2022

    Google Takes $4B Android Fine Appeal To EU Top Court

    Google is appealing a European court's decision to uphold a record-breaking antitrust fine over claims the company imposed contractual restrictions on phone manufacturers that rely on its Android mobile phone operating system to cement its dominance over general internet searches.

  • December 02, 2022

    FTC Eyes Expanded Enforcement Efforts But Questions Loom

    The Federal Trade Commission recently declared it will take a new approach to policing "unfair methods of competition," a move that broadened the agency's view of very old law.

  • December 02, 2022

    Brand Battles: Meta Aims To Clear Path For 'Metaview' TM

    In Law360's latest roundup of new actions at the Trademark Trial and Appeal Board, Facebook parent Meta Platforms Inc. is trying to cancel a trademark registration on the term "Metaview," a trademark it's also trying to secure rights for — plus three other cases you need to know.

  • December 02, 2022

    CVS, Walgreens Take Aim At $650M Opioid Verdict

    Pharmacy giants CVS, Walgreens and Walmart have fought back against a $650 million judgment in litigation over their role in the opioid crisis, arguing in a Thursday appellate brief that the "unprecedented" award wrongly holds the pharmacies responsible for the opioid crisis "writ large."

  • December 02, 2022

    Walmart's $35M Calif. Wage Statement Deal Nears Finish Line

    A California federal judge said Friday that he'll grant final approval to Walmart's $35 million deal to resolve class claims that the retail giant gave inaccurate wage statements to about 265,000 workers, a settlement that will pay class attorneys $11.6 million in fees.

  • December 02, 2022

    5th Circ. Won't Rehear Texas Billionaire's COVID Hotel Fight

    A Fifth Circuit panel on Friday denied a Texas billionaire's request for a rehearing after it found a county judge did have the authority to place restrictions on hotels in March 2020 at the start of the COVID-19 pandemic.

  • December 02, 2022

    Canadian Provinces Crack Down On UFC Betting

    Regulators in Alberta confirmed a sweeping ban on all wagering on UFC events Friday, making the Canadian province the second to do so in as many days, citing concerns about the "integrity" of those bets.

  • December 02, 2022

    7th Circ. Wary Of ID Company's Role In Car Rental Dispute

    A Seventh Circuit panel on Friday appeared doubtful that an identity verification company would fall under the arbitration provision of a rental car platform for which it provided services as a third-party beneficiary, questioning why it's not simply an independent contractor engaged in competition at the market price.

  • December 02, 2022

    Biz Chamber Says STEM OPT Has Decades Of Legal Backing

    The U.S. Chamber of Commerce and others defended a program allowing STEM-student visa holders to work in the U.S. after graduation, urging the D.C. Circuit against rethinking a ruling allowing the program, which they say has existed in some form for decades.

  • December 02, 2022

    Xerox Spinoff Reaches $32M Deal In Securities Class Suit

    A Xerox spinoff has agreed to pay $32 million to resolve securities class claims alleging it misled shareholders about the company's progress in making information technology upgrades related to its electronic toll collection business, investors told a New Jersey federal court Friday in seeking preliminary approval of the deal.

  • December 02, 2022

    SPAC Sues Monex, TradeStation In Del. After $1.43B Deal Dies

    A special-purpose acquisition company that was supposed to take TradeStation Group Inc. public in a $1.43 billion deal earlier this year has instead sued the Florida-based financial trading platform and its Tokyo-based parent Monex Group Inc. in Delaware's Court of Chancery.

  • December 02, 2022

    Interest Rates Doom Lender, Crypto Winter Persists

    Rising interest rates forced a reverse mortgage lender into Chapter 11, cryptocurrency platform BlockFi succumbed to the downfall of exchange FTX Trading, and FTX itself faced calls for an examination of its collapse. This is the week in bankruptcy.

  • December 02, 2022

    $3.20 Loss Snubbed In Del. Fight Over Westell Class Suit Lead

    A stockholder attorney competing to head a Delaware Court of Chancery class suit challenging a Westell Technologies' round-trip reverse stock split in 2020 put the other plaintiff's scant $3.20 loss at issue during court arguments Friday, arguing that there is "no reason" to put so tiny a damage claim up front.

  • December 02, 2022

    Calif. Jury Clears CPUC In Exec's $4.8M Whistleblower Trial

    A Golden State jury on Thursday cleared the California Public Utilities Commission of liability in a weekslong whistleblower trial over a former CPUC executive director's claims that she's owed $4.8 million for calling out the regulators' "fiscal and operational dysfunction," according to the executive's attorneys.

  • December 02, 2022

    IP Hires: Mintz, Irell, Morrison Foerster, Perkins Coie

    A former K&L Gates LLP partner has joined Mintz Levin Cohn Ferris Glovsky and Popeo PC as the chair of the firm's sports and entertainment practice, and Irell & Manella LLP has brought on a former Kobre & Kim LLP intellectual property litigator to its Washington, D.C., office. Here are the details on these and other notable hires.

Expert Analysis

  • Forensic Artifacts Play Legal Role In Cyber Incident Response

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    Companies' security and legal teams must work together to collect forensic artifacts related to data security incidents, in order to defend against potential claims, evaluate contractual obligations, identify dispute resolution options and determine who the business should notify, say Kamran Salour and Sadia Mirza at Troutman Pepper, and Kayla Barker at Tetra Defense.

  • To Avoid A Rail Strike, Congress Tread A Well-Worn Path

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    While the congressional legislation President Joe Biden signed this week to avoid a national rail shutdown may seem extraordinary, interventions of this sort have been used a dozen times since the passage of the Railway Labor Act in 1926, making them far from unprecedented, says Charles Shewmake at Holland & Knight.

  • 5 Takeaways From The SEC's Annual Whistleblower Report

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    Jane Norberg and Adam Reinhart at Arnold & Porter offer insights into the U.S. Securities and Exchange Commission's recent 2022 whistleblower report — including the agency's increased focus on whistleblower impeding cases, initial coin offerings and cryptocurrency — as the agency continues to receive a record-breaking number of tips.

  • Safeguarding Attorneys' Greatest Asset: Our Mental Health

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    Attorneys who understand that mental fitness is their most valuable characteristic should prioritize mental health care accordingly, including with certain activities they may not realize qualify as self-care, says Wendy Robbins at Holland & Knight.

  • How The Amgen Case May Affect Patent Owners, Prosecutors

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    Depending on how the U.S. Supreme Court rules in Amgen v. Sanofi, its decision to review the enablement requirement of Section 112 of the Patent Act could result in significant strategic adjustments by patent owners and prosecutors, say attorneys at Troutman Pepper.

  • IRS Starts Clock On Energy Projects' Labor Rule Exemption

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    A U.S. Department of the Treasury notice published this week started the 60-day clock for clean energy projects seeking to be grandfathered from having to meet new labor requirements to qualify for enhanced tax credits, and uncertainty about how the provisions will apply should be incentive for some investors to begin construction soon, say attorneys at Eversheds Sutherland.

  • Lessons From Bittrex's Settlements With OFAC And FinCEN

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    Bittrex’s recent settlements with the Office of Foreign Assets Control and Financial Crimes Enforcement Network over allegations it violated sanctions and anti-money laundering laws provide lessons for crypto companies that engage in cross-border financial transactions, especially when they rely on third-party compliance vendors, say attorneys at Greenberg Traurig.

  • 5th Circ. Class Action Rulings Reflect Post-TransUnion Trends

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    In the wake of the U.S. Supreme Court's 2021 TransUnion v. Ramirez decision, Fifth Circuit case trends this year highlight the importance of closely evaluating standing challenges where the injury-in-fact is questionable, even where a statutory violation might exist, say attorneys at K&L Gates.

  • Top 10 Labor And Employment Issues In M&A Transactions

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    In order to ensure that M&A transactions come to fruition in the current uncertain environment, companies should keep several labor and employment issues in mind during the due diligence process to minimize risk, says Cassidy Mara at Akerman.

  • FTX Bankruptcy Provides A Road Map For Crypto Regulation

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    FTX’s recent Chapter 11 filing provides an outline of what government regulation is needed in the crypto space, including a crackdown on misleading marketing strategies and a clear bankruptcy framework that may prevent future runs on crypto companies, say Kimberly Black and Daniel Lowenthal at Patterson Belknap.

  • Takeaways From DOL's Final ESG Rule For ERISA Fiduciaries

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    The U.S. Department of Labor's newly finalized environmental, social and governance rule greenlights ESG investing in certain circumstances, but Employee Retirement Income Security Act fiduciaries should heed four important considerations when reviewing ESG factors in light of ERISA's duties of loyalty and prudence, say attorneys at Morgan Lewis.

  • SEC Enforcement Numbers Show Shift To High-Impact Cases

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    The U.S. Securities and Exchange Commission’s recently released enforcement data from fiscal year 2022 shows a modest uptick in cases from the prior year, and signaled an increasing focus on high-impact actions, high-profile defendants and large penalties — a trend that seems likely to continue next year, say attorneys at Covington.

  • COVID-19 Effects Linger In M&A Details

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    President Joe Biden may have declared the COVID-19 pandemic over, but it continues to have a lasting effect in mergers and acquisitions, where buyers and sellers are adding new deal terms to contend with business risks resulting from COVID-19 — and more specifically, the Coronavirus Aid, Relief and Economic Security Act, says Marlen Whitley at Townsend & Lockett.

  • How, And Why, To Become An Impact Investment Lawyer

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    The fast-evolving world of impact investing can offer fulfilling careers to corporate finance attorneys, but success requires an innovative mindset, intense focus on this interdisciplinary field and a genuine commitment to changing the world, says Chintan Panchal at RPCK Rastegar.

  • 5 Swiftie-Spurred Antitrust Claims Ticketmaster Could Expect

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    After Ticketmaster was unable to handle unprecedented demand for Taylor Swift tickets earlier this month, the ticketing service provider and its parent company could face new antitrust claims under five potential theories that may consequently break up their merger, say attorneys at Perkins Coie.

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