U.S. District Judge Jed Rakoff on Friday pressed lawyers for a class of investors in Petrobras securities who inked a $3 billion fraud settlement with the oil giant and its auditor to justify their request for $285 million in attorneys’ fees, calling on Petrobras to join him in scrutinizing the plaintiffs’ billing records.
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TOP NEWS

Rakoff Questions $285M Atty Fees In $3B Petrobras Deal

U.S. District Judge Jed Rakoff on Friday pressed lawyers for a class of investors in Petrobras securities who inked a $3 billion fraud settlement with the oil giant and its auditor to justify their request for $285 million in attorneys’ fees, calling on Petrobras to join him in scrutinizing the plaintiffs’ billing records. Read more »

2nd Circ. Gives 2nd Shot To Schwab's Libor Claims

A Second Circuit panel on Friday breathed new life into claims brought by Charles Schwab Corp. against a slew of the world’s largest banks over their alleged manipulation of the London Interbank Offered Rate, finding that the investment firm should be given a chance to replead some of its case. Read more »

Trump Golf Club Members Seek OK Of $5.4M Settlement

Members of a golf club owned by President Donald Trump asked a Florida federal judge on Friday for initial approval of a $5.4 million class settlement that would end a suit alleging they were denied refunds of their deposits when Trump took over Jupiter Golf Club LLC in 2012. Read more »

Judge Calls For Sanctions In WWE Concussion Suit

A Connecticut federal judge on Thursday recommended partial sanctions against the lead attorney for two former wrestlers in the concussion suit against World Wrestling Entertainment Inc., calling for him to pay for legal fees associated with the sanctions motion and warning him that failure to follow another court order would result in his dismissal from the suit. Read more »

Expert's Calculations Are Focus At Close Of MassMutual Trial

MassMutual and a class of hundreds of term life insurance policyholders faced off over dividends during closing arguments in a California trial Friday, with the class claiming MassMutual was ignoring the policies’ profits and MassMutual countering that the class was relying on a misleading manipulation of the numbers. Read more »

SECURITIES

Ex-SEC Chair Urges Delay Of Post-IPO Suit Policy Debate

Former SEC Chairman Harvey Pitt on Friday urged current Chairman Jay Clayton to put on “the back burners” the idea of allowing companies to bar investors from filing lawsuits after an initial public offering, saying debating the subject would divert the agency’s “limited resources.” Read more »

SWS Investors Lose Bid For Higher Stock Price Post-Sale

Investors who sued to get 39 percent more for their stock after the 2015 sale of financial services firm SWS Group Inc. yet wound up getting 7.8 percent less after a Chancery Court appraisal got no help from Delaware’s Supreme Court Friday, which let stand the trimmed price of $6.38 per share. Read more »

Blue Bell Creamery Seeks Dismissal of Investor Listeria Suit

Blue Bell Creameries USA Inc. urged Delaware’s Chancery Court late Thursday to dismiss a derivative suit that seeks damages for alleged director and officer failures to protect products from pathogenic listeria contamination blamed for sickening customers. Read more »

COMPETITION

Airline Pushes Supreme Court To Hear Filed-Rate Fight

All Nippon Airways Co. Ltd. told the U.S. Supreme Court on Thursday that, if a ruling stands that found the airline can’t escape price-fixing claims by pointing to the existence of federal regulations, the courts risk being turned into “ill-equipped” regulators. Read more »

EMPLOYMENT

Panera Assistant Manager Sues Franchisee For Unpaid OT

A proposed class of Panera Bread assistant managers on Thursday in Ohio federal court served up a Fair Labor Standards Act lawsuit against the restaurant chain's largest franchisee, claiming it improperly classified them as exempt and deprived them of overtime wages when they worked longer than 40 hours a week. Read more »

BofA Looks To Trim Ex-Banker’s Meal, Rest Break Claims

Bank of America urged a California judge on Friday to rethink her tentative ruling and trim meal and rest break claims from a former banker’s putative class action, arguing that as an ex-employee, she’s not entitled to injunctive relief and therefore shouldn’t be allowed to pursue the claims. Read more »

Calif. Panel Says Staffing Co. Can't Arbitrate Wage Claims

The Federal Arbitration Act doesn’t apply to an employment agreement a truck driver signed with a staffing firm that placed him, a California state court ruled Friday, adding that the employer can’t enforce a provision in that contract barring him from pursuing class action claims. Read more »

PRODUCT LIABILITY

Endo, Auxilium And GSK Reach Deal In Testosterone MDL

Drugmakers Endo, Auxilium and GlaxoSmithKline notified an Illinois federal judge on Friday of a tentative deal to settle their cases in the testosterone replacement therapy MDL, in which thousands of patients claim drugmakers failed to warn of risks of heart attack and other health conditions. Read more »

Opioid MDL Attys Clash With DEA Over Drug Data

Attorneys targeting drug manufacturers and distributors in multidistrict litigation over the opioid crisis are clashing with the U.S. Drug Enforcement Administration regarding access to vast amounts of government data on painkiller sales, according to filings in Ohio federal court on Friday. Read more »

PRIVACY & CONSUMER PROTECTION

JPMorgan Inks $2.25M TCPA Deal Over Robocalls

A Georgia federal court Friday was asked to preliminarily approve JPMorgan Chase Bank NA’s $2.25 million settlement of Telephone Consumer Protection Act claims that the bank autodialed the cellphones of hundreds of thousands of customers after they verbally asked that the calls to stop. Read more »

SC Federal Court Lacks Jurisdiction, Reservations.com Says

A U.S. District Court in South Carolina lacks personal jurisdiction in a proposed class action suit claiming Reservations.com overcharged a state resident for taxes and fees when he booked through the site, the company said Thursday in a motion to dismiss. Read more »

Shopper Drops Suit Over Whole Foods Data Breach

Whole Foods escaped a proposed class action in Ohio federal court accusing the company of failing to protect customer data following a September data breach that affected the grocer's taprooms and restaurants, with the consumer on Thursday agreeing to dismiss her claims. Read more »

Hotels Move For Cert. In Expedia False Ad Suit

A pair of hotels are pushing to certify their proposed class action accusing Expedia of luring customers with false advertisements and then diverting them to make reservations at places where it gets a cut, telling a California federal court Thursday that a class action is the best way for their Lanham Act claims to proceed. Read more »

NYC Toll Fees Are Excessive, Drivers Claim

Some of the fees drivers must pay to use New York City's cashless toll system for bridges, tunnels and roads are illegally excessive, a proposed class of commuters has alleged in New York federal court. Read more »

INSURANCE

Insurer Says Policy Won't Cover Claims Over $3B Verizon Deal

U.S. Specialty Insurance Co. on Friday asked a federal judge to rule that it doesn’t have to defend IDT Corp. chairman Howard Jonas against a stockholder suit stemming from an IDT spinoff’s $3 billion wireless spectrum sale to Verizon, arguing that the spinoff isn’t covered by IDT’s policy. Read more »

BANKING

Texas Justices Say Payday Lender Can Arbitrate Claims

The Texas Supreme Court affirmed on Friday a ruling that found borrowers must arbitrate class claims alleging Cash Biz LP wrongfully used the criminal justice system to collect unpaid loans, finding the payday lender hadn’t waived arbitration by “substantially invoking the judicial process” in filing criminal complaints. Read more »

IMMIGRATION

Immigrants Sue Private Prison Co. Over 'Forced Labor'

Private prison company CoreCivic Inc. was hit with a proposed class action on Thursday on behalf of immigrant detainees, alleging that CoreCivic is operating forced labor camps that violate the human rights of the detainees while it reaps profits of more than $1.5 billion annually. Read more »

LEGAL INDUSTRY

Feature

How Mentors For Senior Partners Could Benefit BigLaw

Large law firms have long offered mentorship programs in which senior partners bestow pearls of wisdom upon junior attorneys, but at least one law firm is shaking up that traditional model in what some say could be a game-changer for the legal industry. Read more »

Analysis

Ex-Skadden Atty's Plea Raises Specter Of Foreign Lobbying

The sudden guilty plea of a now-former Skadden lawyer who helped write a legal analysis commissioned by Paul Manafort on behalf of a Ukrainian president puts further scrutiny on the firm’s role in the controversial report and whether Skadden crossed into the legally precarious position of unregistered lobbying for a foreign government, experts said. Read more »

LSAT Administrator Likely In Contempt As Feds Sit Idly By

A California federal judge said Friday that the Law School Admission Council Inc. was likely in contempt of a consent decree laying out ways it should accommodate disabled test takers, adding it was “astounding” that the federal government took no position on the alleged violations after it had vigorously pursued the litigation for several years. Read more »

GC Cheat Sheet: The Hottest Corporate News Of The Week

A report revealed that National Public Radio management hired and retained news executive Michael Oreskes despite multiple "flags" regarding his inappropriate behavior toward women, Democrats dinged new U.S. Securities and Exchange Commission guidance as old advice, and the general counsel of Discover Financial Services spoke with Law360 about how the company prioritizes diversity and inclusion. These are some of the stories in corporate legal news you may have missed in the past week.​ Read more »

Podcast

Law360's Pro Say: Microsoft's Supreme Court Privacy Battle

On the latest episode of Law360's Pro Say podcast, we are joined by Microsoft's head of litigation to talk about upcoming U.S. Supreme Court oral arguments in a privacy case over data stored on servers overseas. We also chat about a BigLaw attorney swept up in Robert Mueller's ongoing investigation, the Supreme Court narrowing legal protections for corporate whistleblowers, and a legal beef over Dunkin' Donuts Angus steak sandwiches. Read more »

In Case You Missed It: Hottest Firms And Stories On Law360

For those who missed out, here's a look back at the law firms, stories and expert analyses that generated the most buzz on Law360 last week. Read more »

Up Next At The High Court: Antitrust Rule, Public Unions

The U.S. Supreme Court is closing out its February oral argument session with a blockbuster docket, taking on a key doctrine of antitrust law in a case involving American Express Co. and pondering the fate of public sector unions. Read more »

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