Expert Analysis


Sripetch May Prove To Be An Empty Victory For The SEC

The U.S. Supreme Court's recent decision in Sripetch v. U.S. Securities and Exchange Commission held that the SEC need not prove pecuniary harm for disgorgement, but if the commission must still identify victims and distribute funds in a compensatory way, it faces the same economic problem as before the ruling, says Erin Smith at Compass Lexecon.


9th Circ. Cooler Ruling Chills 1st Mover Lanham Act Claims

The Ninth Circuit's recent decision in Vericool World v. Igloo Products that Vericool's claim of being first-to-market with an ecocooler was not actionable under the Lanham Act largely foreclosed false advertising litigation over first mover status, so potential plaintiffs should instead look to patent counseling or intellectual property strategy for these claims, say attorneys at Manatt.


TTAB's Everwise Decision Highlights Token-Use Pitfalls

The Trademark Trial and Appeal Board's recent cancellation of Everwise Credit Union's registration for the standard character mark "Everwise Credit Union" offers a detailed road map for practitioners on both sides of reexamination proceedings, and a blunt warning on specimen strategy, say attorneys at Akerman.


Mapping 5 Fronts Of The Prediction Markets Regulatory Battle

The legal framework governing prediction markets is under simultaneous challenge in five independent areas, and the outcomes will determine not just who can operate prediction markets, but the compliance obligations of every participant in the ecosystem, says Ivor Wolk at Manatt.


UCC Digital Asset Update Is Altering Lender, Obligor Diligence

The rollout of the Uniform Commercial Code's Article 12 is transforming digital asset secured lending, forcing lenders and obligors to rethink diligence, control, custody, monitoring and contract terms, as well as collateral practices and financing structures, as jurisdictions continue to adopt the amendments, say attorneys at Lowenstein Sandler.


Reel Justice: 'Tuner' And Modern Juror Sympathy

In “Tuner,” the main character’s criminal behavior is framed as an extension of his vulnerability, talent and loyalty, demonstrating how narratives of sympathy shape perceptions of culpability, and why jurors may reinterpret wrongdoing through story and emotion rather than evidence and doctrine, says Veronica Finkelstein at WilmU Law.


How Federal PFAS Bill Would Expand Liability For Companies

Recently proposed federal legislation governing per- and polyfluoroalkyl substances would not only phase out nonessential uses of PFAS and prohibit detectable environmental releases, but would also expand liability in ways that will matter to companies with current or historical PFAS exposure, says Ayodeji Ayolola at Gordon Rees.


7 Key Questions About SEC's Faster Tender Offer Path

Following the U.S. Securities and Exchange Commission's recent order permitting an accelerated offering period for certain tender offers, attorneys at Wilson Sonsini discuss key considerations for M&A transactions, addressing eligibility, pros and cons, and how a minimum offering period as short as 10 days may operate in practice.


EU Foreign Subsidies Report Offers Chance To Take Stock

The European Union’s forthcoming review of the Foreign Subsidies Regulation, revealing reassuringly low intervention rates but a burdensome prenotification process, offers the European Commission a timely opportunity to address genuine distortions and be more proportionate in its demands on market participants, say lawyers at Dechert.


Patent Ruling Highlights Risks Of Late Inventorship Fixes

The Federal Circuit's recent decision in Implicit v. Sonos demonstrates the risk of forfeiture with retroactive correction of inventorship in inter partes review proceedings, with a clear message to the patent community that potential inventorship issues should be considered at every stage of a patent's life cycle, say attorneys at BCLP.


Using Past Tech Transitions As A Lens For Calif. Worker AI Bill

Examining previous workplace automation battles reveals the goals of a California bill that would impose obligations on employers for layoffs and hiring cessations caused by artificial intelligence, and illustrates where it may prove difficult to administer and how to prepare for its enactment, say attorneys at Skadden.


Adjusting IPR Tactics As Google Fights 'Settled Expectations'

Google’s petition for the U.S. Supreme Court to scrutinize the Patent Trial and Appeal Board's so-called settled expectations practice underscores why accused infringers facing older asserted patents should treat discretionary denial as a case-dispositive risk from day one, says attorney Abdul Abdullahi.


3 Misconceptions About Justices' FCC Fines Ruling

The U.S. Supreme Court's June 4 Federal Communications Commission v. AT&T decision rejecting AT&T’s and Verizon’s argument that the commission's forfeiture process violates the Seventh Amendment has yielded three common reactions that misunderstand the decision as a matter of law and how the FCC actually operates, says Samuel Feder at Jenner & Block.


How A Founder's AI Pitch Deck Can Become A Crime Scene

As recent indictments and prosecutions against tech executives illustrate, AI washing is a criminal enforcement priority, not a regulatory formality, highlighting the importance of ensuring that founders don't overstate what their artificial intelligence does, particularly in the initial pitch deck to investors, says attorney Alan N. Walter.


How Hantavirus May Expand Cruise Ship Liability Concerns

In an incident like the recent hantavirus outbreak aboard a cruise ship, application of maritime negligence principles may expand beyond environmental exposure considerations to encompass how operators identify, respond to and manage emerging infectious disease risks in real time, says Eric Shane at Leesfield & Partners.


SEC Disgorged Fund Distribution Is Next Query After Sripetch

Following the Supreme Court's Sripetch v. U.S. Securities and Exchange Commission decision, investor harm isn't required for the SEC to obtain a disgorgement award, but future cases must resolve whether the commission will be freed from a requirement to distribute disgorged funds to the victims of alleged misconduct, says Daniel Walfish at Katsky Korins.


Direct Fed Payment Access Finally In Sight For Fintechs

A recent executive order and a Federal Reserve proposal could finally allow direct payment system access for fintechs and other nonbanks, potentially reducing reliance on sponsor banks and reshaping competition, as well as prompting organizations to reassess partnership strategies as litigation and rulemaking unfold, say attorneys at Freshfields.


Tips For Litigating Life Sciences Investigations At The ITC

The International Trade Commission may soon become a significant battleground for life sciences companies as global intellectual property and trade disputes continue, increasing the importance of learning the ITC's unique considerations and litigation strategies, say attorneys at Crowell & Moring.


Del. Ruling Cautions Against Expanding Expert Authority

The Delaware Chancery Court's determination that an accountant acted as an expert rather than an arbitrator in the Driven Intermediate Holdings post-closing purchase price adjustment lawsuit helped lead to a dismissal, and demonstrated not only how such a determination can factor into a dispute's resolution, but also whether a court has jurisdiction to hear it, say attorneys at Reed Smith.


Reducing Youth Product Risks When No Standards Apply

As juvenile product manufacturers and retailers face heightened U.S. Consumer Product Safety Commission enforcement actions and attendant litigation risks, companies must not only comply with applicable standards, but also confront the problem of how to protect themselves when there are no standards to comply with, say attorneys at Chamberlain Hrdlicka.



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Opinion


Agentic AI And Securities Law: Steps Congress Should Take

Agentic artificial intelligence technology doesn't fit comfortably into the existing securities regulatory landscape, so Congress should avoid repeating the mistakes that led to the legal uncertainty crypto companies and investors have faced over the past decade-plus by providing a legislative framework before AI fully matures, says Joseph A. Hall at Davis Polk.

At High Court, Oil Cos.' Suncor Preemption Claims Fall Short

In Suncor Energy v. Boulder County, pending before the U.S. Supreme Court, oil and gas companies argue that municipalities' climate deception claims are equivalent to emissions standards for their industry — but the suit is ultimately incapable of imposing such standards, say Thomas McGarity at the University of Texas School of Law and James Goodwin at the Center for Progressive Reform.



Access to Justice Perspectives


Negotiating Power Imbalance In Pro Bono Client Relationships

The inherent power advantage of an attorney in a client relationship is magnified in pro bono representation, but lawyers can help ease this imbalance by implementing several principles, such as sharing control, identifying resource barriers and more, says Alicia Aiken at PLI.