The Internal Revenue Service on Monday highlighted Goldman Sachs’ $50 billion valuation of Facebook in a bench trial Monday over multibillion-dollar adjustments to Facebook’s 2010 taxes, as the company's former chief financial officer testified that Facebook struggled financially at the time.
The California Supreme Court’s ruling that Apple workers are owed pay for time they spend in security lines doesn’t mean Amazon must pay a class of warehouse workers, the company has told the Sixth Circuit, which is hearing appeals from a Kentucky federal case bringing together similar suits from several states.
A California federal judge denied Lyft's motion for attorney fees in dismissed litigation accusing it of infringing RideApp Inc.’s ride-sharing patent, ruling Monday that RideApp’s decision to sue was not exceptional even though the Patent Trial and Appeal Board previously determined its patent’s claims were likely invalid as indefinite.
Canadian privacy regulators have launched an investigation into facial recognition company Clearview AI, seeking to examine whether the controversial startup has breached local privacy law by building a photo database the company claims can help law enforcement solve crimes.
MGM Resorts International failed to implement industry-standard data security measures that could have prevented a data breach last summer that compromised 10.6 million guests' personal information and that the hotel and casino giant tried to downplay, according to a putative class action filed Friday in Nevada federal court.
Cooley LLP and Paul Hastings LLP are guiding human resources businesses Cornerstone OnDemand Inc. and Saba Software Inc., respectively, in an agreement announced Monday for Cornerstone to buy Saba for $1.4 billion.
Avanti Financial Group announced Monday its intention to introduce a Wyoming-based bank to provide services focused on digital assets with support from Bitcoin and blockchain infrastructure company Blockstream.
Online giants could be sued for “demonstrably false” political advertising under legislation that a key House Democrat on antitrust issues said Monday he was poised to file.
North Star Innovations Inc. waived its right to get a rehearing under Arthrex by not asking the Patent Trial and Appeal Board for one after the Federal Circuit’s explosive decision, the U.S. Patent and Trademark Office has told the appeals court.
The Patent Trial and Appeal Board invalidated nine claims in an Inventergy affiliate's mobile technology patent, finding that Apple had shown it would have been obvious to modify existing technology to arrive at the claimed invention.
CBS is reportedly hoping to sell its New York City headquarters for more than $1 billion, Apple is said to be taking 220,000 square feet in Manhattan, and Centennial Bank has reportedly loaned $10.38 million for a Florida self-storage and retail project.
An alleged patent troll has accused Uber of infringing four patents that IBM sold off just before joining an organization aimed at fighting such companies.
A top official at the Federal Communications Commission said Monday the government is giving "serious consideration" to asking the U.S. Supreme Court to step in and resolve the agency's long-running battle with a Third Circuit panel over relaxing local media ownership rules.
A former Financial Crimes Enforcement Network executive is returning to oversee the agency's engagement with emerging technology and financial innovation as its deputy director and first digital innovation officer, the bureau said.
The U.S. Supreme Court on Monday rejected a South Korean communications provider's request to review $1.04 million in arbitral awards in favor of a China-based company over a satellite deal the South Korean government voided.
Panasonic Corp. and its subsidiary Sanyo Electric Co. Ltd. said Friday they have reached a $45 million agreement to resolve antitrust litigation in California federal court accusing the electronics parts manufacturers and several others of conspiring to raise the price of capacitors.
The U.S. Supreme Court turned away four intellectual property cases on Monday, including Apple’s appeal of a $439 million judgment in its dispute with VirnetX and Cisco's bid to overturn a $24 million verdict by invoking the court's Alice decision.
The U.S. Supreme Court on Monday declined to review a First Circuit decision holding that financial institutions such as Fidelity enjoy absolute immunity under federal law when they report suspicious trades to regulators.
SoftBank’s Vision Fund 2 invested $100 million in CMS-steered data platform Behavox and participated in a $165 million funding round for Wilson Sonsini-guided life sciences company Karius, according to the startups’ Monday announcements.
M33 Growth has clinched its second fund after raising $260 million from limited partners, with plans to target investments in sectors including software and health care, the Boston-based firm said Monday.
Two top Facebook executives testified during a bench trial Friday that the social media giant struggled to compete with Google in 2010, when the IRS claims it undervalued its intangible property by billions, contributing to Facebook's revenue shortfall three years later.
A Chinese telescope maker should be required to keep dealing with its rivals on good terms after it was hit with nearly $50 million in damages for conspiring against them to divvy up the U.S. market, one of those competitors told a California federal court.
A new government-created privacy framework has the potential to be a valuable tool for companies grappling with growing privacy obligations around the world, but whether it will evolve into a widely accepted gold standard hinges on how regulators and vendors respond to the offering.
Uber must face a $1 billion trade secrets lawsuit after a San Francisco jury handed down a verdict Friday finding that an inventor timely brought his claim that the ride-hailing giant and its founder stole his business concept.
Record labels have asked a Colorado federal judge to restrict a lawyer’s involvement in a copyright lawsuit against Charter Communications, saying one of the cable company’s consultants used to be a senior legal executive for EMI Music, one of the labels suing Charter.
As the European Union considers adapting its product liability law for the era of artificial intelligence and self-driving cars, a shift toward making manufacturers prove that their products are compliant could lead to more litigation and a fear of innovation, rather than more product offerings and real protection for consumers, says Sylvie Gallage-Alwis of Signature Litigation.
As courts increasingly accept technology-assisted document review, some are bordering on forcing parties to employ TAR, in which case attorneys may need to step in if their clients prefer other processes, say Donna Fisher and Matthew Hamilton at Pepper Hamilton.
Recent encouraging trends for patent owners in the district courts and U.S. Patent and Trademark Office include a broad application of inter partes review estoppel and the allowance of noninstitution decisions as trial evidence, although some issues remain unresolved, say Kevin Schubert and Brett Cooper at McKool Smith.
The Delaware Supreme Court's recent dismissal of a stockholder action alleging conflicts among Uber's board demonstrates how unlikely it is that independent directors would be held personally liable for fiduciary breaches, say attorneys at Fried Frank.
The protectionist policy initiative the U.S. Department of Homeland Security published following the U.S.-China trade deal should be welcomed by brands, because it shifts the responsibility to e-commerce platforms for policing, monitoring and penalizing intellectual property-counterfeiting activities, says Chloe Lee of Incopro.
The U.S. national security investigation into the Chinese-owned TikTok app serves as a reminder that social media platforms need to establish clear privacy notices to explain how users' personal data will be used and stored, particularly in cross-border applications, say Craig Giles and Zahra Deera of Bird & Bird.
As courts increase scrutiny of class action settlement agreements, approval hinges on avoiding common mistakes, such as inadequate forms of notice, lack of Article III standing and irrelevant cy pres recipients, say attorneys at Troutman Sanders.
A recent Law360 guest article argued that artificial intelligence can precisely estimate the length and cost of a new case, but several limitations will likely delay truly accurate predictions for years to come, says Andrew Russell at Shaw Keller.
A U.S. Supreme Court ruling in favor of Google in its copyright infringement battle with Oracle would vindicate the search engine’s ruthless economic calculus, encourage IP abuse and dissuade future victims from bringing challenges, says James Skyles of Skyles Law Group.
Public company boards of directors should recognize environmental, social and governance issues as a growing priority for investors, identify the purpose of their corporation, and consider focusing on a broader set of stakeholders, say Valeska Pederson Hintz and James O'Grady at Lowenstein Sandler.
Last year brought significant news in U.S. trade secret law, including the U.S. Department of Justice’s continued enforcement of its China initiative and further development of the inevitable disclosure doctrine under the Defend Trade Secrets Act, say attorneys at Faegre Drinker.
The European Union’s new repairability standards, set to affect many household electronic appliances as soon as April, will be challenging to manufacturers because they are outcome-based, and not just specification-driven — but this may be the new model of environmental product compliance, says Jonathan Cocker of Baker McKenzie.
A New York federal court's recent decision that the publishers' refusal to license music did not violate antitrust law in Downtown Music Publishing v. Peloton demonstrates that innovators cannot rely on a blanket public performance license and that copyright law is in need of reform, says Sekou Campbell of Culhane Meadows.
A look at Airbnb's tax structures, which are being investigated by HM Revenue & Customs, provides insight into whether multinational tech companies trade through permanent establishments in the U.K., and should be taxed accordingly, says Zoe Wyatt at Andersen Tax.
The resolution of recent cases in which IBM and Clearview AI created facial geometries from photographs they obtained from social media will show the extent to which the Illinois Biometric Information Privacy Act applies to these new technologies and uses of biometric data outside Illinois, say Al Fowerbaugh and Karen Borg of Porter Wright.