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May 06, 2024
SEC Small Biz Panel Urges Relaxed Rules For Crowdfunding
A U.S. Securities and Exchange Commission advisory committee recommended Monday that regulators raise the threshold at which equity crowdfunding issuers must obtain an independent review of financial statements, hoping to encourage the use of crowdfunding for cash-strapped entrepreneurs.
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May 06, 2024
Ohio AG Says Social Media Age Limit Fight Hurts Democracy
Ohio Attorney General Dave Yost and the internet technology trade association that sued to block him from enforcing the Buckeye State's new law requiring parental consent for children under 16 to create online accounts have filed competing bids for early wins.
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May 06, 2024
Truth Social Backer 'Absolutely' Denies Insider Rap To Jury
An investment pro told a Manhattan federal jury Monday that he never tipped Florida speculators to a confidential plan to take former President Donald Trump's media concern Truth Social public, taking the stand to fight insider trading charges against him.
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May 06, 2024
Fetterman Would Pay Broadband Subsidy From Telecom Fund
Sen. John Fetterman, D-Pa., introduced a bill last week that would provide sustainable funding for a pandemic-era broadband assistance program that has assisted millions of Americans but is about to be depleted.
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May 06, 2024
Catching Up With Delaware's Chancery Court
A record $100 million settlement, a fishy Facebook decision, a canceled Amazon delivery and an upended $7.3 billion sale dispute topped the news out of Delaware's Court of Chancery last week. There were also new cases involving Hess, Microsoft and the 2022 World Cup.
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May 06, 2024
Cybersecurity Firm Appgate Hits Ch. 11 3 Years After IPO
Technology firm Appgate Inc. and 11 affiliates filed for Chapter 11 bankruptcy in Delaware Monday with a prepackaged plan to wipe all debt from its books, tap new funding and go private roughly three years after its initial public offering backed by $1 billion in investments.
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May 06, 2024
Trump Media Hires Auditor To Replace Firm Accused Of Fraud
Trump Media and Technology Group Corp. has hired a new auditor, replacing its predecessor firm, which was permanently suspended by securities regulators Friday for alleged "massive fraud" regarding its work with hundreds of clients, according to a filing Monday.
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May 06, 2024
Synopsys Selling Software Biz To PE Firms In $2.1B Deal
Software firm Synopsys Inc. on Monday announced that it is selling its Software Integrity Group business to private equity firms Clearlake Capital Group LP and Francisco Partners for up to $2.1 billion in a deal built by three firms.
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May 06, 2024
Perficient Stock Soars On $3B Buyout By EQT Asia Fund
St. Louis-based digital consultancy Perficient Inc. said it has agreed to be taken private by an affiliate of Swedish private equity firm EQT's Baring Asia Private Equity Fund VIII at an approximately $3 billion enterprise value, a disclosure that sent Perficient's stock soaring more than 50% on Monday.
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May 06, 2024
Battery Startup Ambri Hits Ch. 11 With Lender Sale Plans
Massachusetts battery developer Ambri Inc. filed for Chapter 11 protection in Delaware with over $50 million in liabilities and a credit bid stalking horse offer from a group of secured noteholders after fundraising efforts last year fell short.
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May 03, 2024
The Privacy Report: Legislative Moves You May Have Missed
Tennessee's enactment of new restrictions on teens' social media use led the charge this week amid a flurry of state and federal efforts to increase protections for minors online, while Connecticut faces a looming deadline to become the first state with a comprehensive framework for regulating artificial intelligence.
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May 03, 2024
Samsung Seeks $6.7M In Fees After Beating $4B Patent Case
Samsung asked U.S. District Judge Alan Albright to award it $6.7 million in attorneys' fees after beating a $4 billion infringement suit over two semiconductor patents, saying the patent holder's "exceptional misconduct" during the litigation warrants the requested award, according to a motion unsealed on Friday.
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May 03, 2024
Hagens Berman To Spearhead Litigation Over Skin Tech Woes
Hagens Berman Sobol Shapiro LLP was appointed lead counsel in securities litigation claiming Beauty Health Co. hid the news of a defective skin care device, beating competing bids from Glancy Prongay & Murray LLP and Pomerantz LLP, according to an order in Delaware federal court.
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May 03, 2024
Judge Asks About Ad Quality As Google Search Trial Wraps
The D.C. federal judge overseeing the government's search monopolization case against Google peppered attorneys from both sides on Friday during the final day of trial arguments about how to address Google's contention that it raises ad prices to coincide with product improvements.
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May 03, 2024
Wireless Alliance Pushes For 5/5 MHz Networks
The Enterprise Wireless Alliance says it's time to open up the 900 megahertz band up to 5/5 megahertz broadband networks, something the group says would be great for businesses that require their own private networks.
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May 03, 2024
NY's Citi Suit Imperils Wire Transfer Market, Bank Groups Say
Major banking trade groups are backing Citibank NA in its fight against the New York attorney general's lawsuit over the bank's payment fraud protocols, warning that the state's claims seek to change how wire transfers are regulated in a way that could "upend" the marketplace for such services.
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May 03, 2024
Phone Carriers Still Want More Time On SIM Swap Deadline
Telecom trade groups have once again told the Federal Communications Commission that their members are going to struggle to meet the deadline for complying with the agency's new rules aimed at combating SIM card swapping fraud.
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May 03, 2024
Calif. Appeals Court Calls Firm's Conduct 'Woefully Uncivil'
A California state appeals court has backed sanctions against The Vanderpool Law Firm in a dispute with Masimo Corp., finding that the firm had engaged in misconduct during discovery and noting that it was "woefully uncivil" in its emails with opposing counsel.
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May 03, 2024
Charities Can't Get 'Second Bite Of The Apple' Against PayPal
An Illinois federal judge on Friday trimmed a second lawsuit by charities challenging the way PayPal solicits and distributes charitable contributions, saying they can't get a "second bite of the apple" after their nearly identical claims were dismissed because they'd agreed to individually arbitrate disputes.
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May 03, 2024
Biden's AI Guidance For Gov't May Need More Risk Controls
The Biden administration's latest guidance for federal agencies' purchases of generative artificial intelligence technologies doesn't fully account for risks such as systems failing to work as intended, and could therefore fail to deter agencies from ill-advised investments, according to experts.
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May 03, 2024
New AI Copyright Class Actions Target Nvidia, Databricks
Artificial intelligence developers Nvidia and Databricks are facing a new round of class action litigation in California federal court, this time from authors like longtime New Yorker writer Susan Orlean and YA scribe Jason Reynolds.
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May 03, 2024
5 Plead Guilty To Hiding Fraud Proceeds In Chinese Cos.
Five men pled guilty in Florida federal court to fraud-related charges connected to a scheme that involved hacking into businesses' computer systems and wiring millions of dollars to bank accounts in the name of fake companies before the money was ultimately laundered in China, according to the Internal Revenue Service.
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May 03, 2024
Eolas Is Latest Patent Owner To Take Alice Loss To High Court
A patent licensing outfit run by a onetime computer lab director at the University of California, San Francisco, is the latest to go to the U.S. Supreme Court to complain about patent eligibility.
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May 03, 2024
DOJ Seeks Info Sharing With Texas In Google Ad Tech Case
The U.S. Department of Justice objected on Friday to a Virginia magistrate judge's refusal to coordinate discovery in its suit accusing Google of monopolizing key digital advertising technology with a similar case from state enforcers pending in Texas, contending the information sharing is needed to maintain a level playing field.
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May 03, 2024
Google Blasts Epic's Post-Verdict Play Store Reforms Bid
Google is hitting back at Epic Games' proposed injunction following its jury win on antitrust claims related to the Google Play Store and Android apps, telling a California federal judge Thursday that Epic's proposed rules cover conduct that was not presented to the jury and is "purely hypothetical."
Expert Analysis
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Compliance Strategies To Mitigate 3 New Areas Of AI Risk
The era of artificial intelligence-assisted corporate crime is here, but several concrete mitigation strategies can allow companies to address the new, rapidly evolving threats posed by deepfakes, information barrier evasion and AI model manipulation, say attorneys at Debevoise.
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Exploring A New Era Of IP Law Amid The Rise Of Generative AI
Attorneys at Hogan Lovells explore the effects of generative artificial intelligence in three areas of intellectual property, recent updates and emerging trends, and its significance on the IP landscape now and moving forward.
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Class Actions At The Circuit Courts: April Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses three notable circuit court decisions on topics from the Class Action Fairness Act to consumer fraud — and provides key takeaways for counsel on issues including CAFA’s local controversy exception and Article III standing to seek injunctive relief.
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Perspectives
Criminal Defendants Should Have Access To Foreign Evidence
A New Jersey federal court recently ordered prosecutors to obtain evidence from India on behalf of the former Cognizant Technology executives they’re prosecuting — a precedent that other courts should follow to make cross-border evidentiary requests more fair and efficient, say Kaylana Mueller-Hsia and Rebecca Wexler at UC Berkeley School of Law.
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How Cos. Can Prep For New Calif. Privacy Regulations
The California Privacy Protection Agency has been very active in the first quarter of 2024 and continues to exercise its rulemaking authority with proposed draft regulations, so retailers should prepare for California Consumer Privacy Act enforcement and figure out how best to comply, say attorneys at Dentons.
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Fed. Circ. Defines Foreign IP Damages, Raises New Questions
In Brumfield v. IBG, the Federal Circuit recently clarified which standard determines the extraterritoriality of the patent statute after the U.S. Supreme Court's WesternGeco decision, opening a new avenue of damages for foreign activities resulting from certain domestic activities while also creating some thorny questions, say Amol Parikh and Ian Howard at McDermott.
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9th Circ. Arbitration Ruling Could Have Int'l Implications
In Patrick v. Running Warehouse, the Ninth Circuit's recent matter-of-fact invocation of an unusual California rule in a domestic arbitration context raises choice of law questions, and could make California law a strategic option for some international arbitration parties, says Jerry Roth at FedArb.
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Series
Being An Equestrian Makes Me A Better Lawyer
Beyond getting experience thinking on my feet and tackling stressful situations, the skills I've gained from horseback riding have considerable overlap with the skills used to practice law, particularly in terms of team building, continuing education, and making an effort to reset and recharge, says Kerry Irwin at Moore & Van Allen.
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Deciding What Comes At The End Of WTO's Digital Tariff Ban
Companies that feel empowered by the World Trade Organization’s recent two-year extension of the ban on e-commerce tariffs should pay attention to current negotiations over what comes after the moratorium expires, as these agreements will define standards in international e-commerce for years to come, say Jan Walter, Hannes Sigurgeirsson and Kulsum Gulamhusein at Akin Gump.
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Opinion
Cyber Regulators Should Rely On Existing Sources Cautiously
New incident reporting rules proposed by the Cybersecurity and Infrastructure Security Agency illustrate how the use of definitions, standards and approaches from existing sources can create a complex patchwork of regulations, demonstrating that it is essential for agencies to be clear about expectations and not create unnecessary confusion, says Megan Brown at Wiley.
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Considering CGL Defense For Social Media Addiction Claims
A recent lawsuit filed in California state court against Meta seeks damages from technology companies for the costs of treating children allegedly suffering from social media addiction, but the prospects of defense coverage under commercial general liability insurance policies for a potential new wave of claims look promising, say Craig Hirsch and Tae Andrews at Pasich.
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Fintiv Denials Are On The Rise At PTAB
Following last year's CommScope v. Dali decision, the Patent Trial and Appeal Board is increasingly using Fintiv factors to discretionarily deny inter partes review petitions — and attorneys ignore it at their peril, say Josepher Li and Michelle Armond at Armond Wilson.
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4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.
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Tips For Balanced Board Oversight After A Cyberincident
The U.S. Securities and Exchange Commission's cybersecurity disclosure rules, as well as recent regulatory enforcement actions bringing board governance under scrutiny, continue to push boards toward active engagement in relation to their cyber-oversight role, despite it being unclear what a board's level of involvement should be, say attorneys at Alston & Bird.
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Cos. Must Prepare For Calif. Legislation That Would Ban PFAS
Pending California legislation that would ban the sale or distribution of new products containing intentionally added per- and polyfluoroalkyl substances could affect thousands of businesses — and given the bill's expected passage, and its draconian enforcement regime, companies must act now to prepare for it, say attorneys at Alston & Bird.