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Technology
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May 21, 2024
SEC Gives Ex-BF Borgers Clients Reporting Deadline Reprieve
The U.S. Securities and Exchange Commission says it will give former clients of suspended auditor BF Borgers CPA PC more time to file their first-quarter financial statements in acknowledgment of issuers' need to scramble to find new accountants after the agency unveiled an enforcement action over the alleged "massive fraud" at the firm earlier this month.
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May 21, 2024
AT&T Unit Asks High Court To Take Up E-Rate FCA Dispute
The U.S. Supreme Court needs to step in and decide a circuit split over whether FCC reimbursements under the E-rate program count as "claims" under the False Claims Act, said an AT&T subsidiary, urging the justices to ignore a relator who it said is trying to "muddy that clear conflict."
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May 21, 2024
CohnReznick Adds PwC Partner To International Tax Practice
CohnReznick has a new principal in its international tax practice who previously served as a partner at PwC, the firm announced.
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May 21, 2024
FTC Chair Khan Says Corporate Concentration Creates Fear
Federal Trade Commission Chair Lina Khan said Tuesday that corporate concentration creates fear for many Americans, including small businesses that rely on digital gatekeepers like Google and Amazon.
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May 21, 2024
Copyright Claims Against Defense Agencies Go To Trial
A Court of Federal Claims judge has ruled that a geospatial technology firm's copyright infringement claims against defense agencies must go to trial, citing disputed facts about whether related software was effectively created on the government's time and dime.
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May 21, 2024
Circuit Split Could Still Derail FCC Subsidies, High Court Told
Free market groups urged the U.S. Supreme Court on Tuesday to review their challenge to the Federal Communications Commission's subsidy programs, saying the Fifth Circuit could create a circuit split "at any time" by rejecting the fee-based system.
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May 21, 2024
SPAC Investor's Suit Changes Came Too Late, Chancery Rules
A shareholder of a special-purpose acquisition company that merged with a now-defunct medical technology company in 2021 waited too long to amend his year-old proposed class action and must defend the case against a motion to dismiss in June, Delaware's Court of Chancery said Tuesday.
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May 21, 2024
22 States Tell 11th Circ. Corp. Transparency Act Goes Too Far
The federal Corporate Transparency Act unconstitutionally displaces state authority and its enforcement would economically harm states and their residents, attorneys general from 22 states told the Eleventh Circuit, urging it to uphold a ruling that struck down the law.
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May 21, 2024
PE Firms Close Separate Funds With Nearly $1.3B Total In Tow
Winston & Strawn LLP-advised private equity shop Paceline Equity Partners LLC and Kirkland & Ellis LLP-advised private equity firm Eir Partners on Tuesday separately announced that they have clinched funds totaling nearly $1.3 billion combined, with the former's fund focusing on corporate debt and real assets and the latter's targeting healthcare technology investments.
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May 21, 2024
Drinking Water Systems At Risk Of Cyberattack, EPA Says
More than 70% of the nation's drinking water systems are not in compliance with federal law requiring them to assess the risks of and develop plans for cybersecurity attacks, which could leave them vulnerable to foreign interference, the U.S. Environmental Protection Agency said Monday.
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May 21, 2024
Make Emergency Missing-Adult Codes Voluntary, FCC Urged
A new missing-adult code that the Federal Communications Commission wants to integrate into the Emergency Alert System should be kept voluntary for existing alert systems, cable providers told the FCC.
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May 21, 2024
9th Circ. Rejects Quick Section 230 Appeal In Casino App MDL
The Ninth Circuit refused to weigh in Tuesday on whether the Communications Decency Act's Section 230 shields Google, Apple and Meta from consolidated multidistrict litigation over allegedly illicit "social casino" game apps on their platforms, finding that deciding the issue on an interlocutory appeal would be a premature, advisory opinion.
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May 21, 2024
Split Fed. Circ. Revives IP Suit Against Nokia Over Standing
A split Federal Circuit on Tuesday threw out a lower court decision that found an inventor's company didn't have standing to sue Nokia, Cisco and ADVA over a fiber optic patent, saying it was unclear if the company had the rights to the patent.
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May 21, 2024
Online Game Sites Hit With Class Claims For 'Illegal' Gambling
The operators of online games Chumba Casino, LuckyLand Slots and Global Poker have been slapped with a proposed class action in Georgia federal court accusing them of conducting illegal commercial gambling operations in the Peach State.
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May 21, 2024
Scale AI Valued At $14B After Series F Round Led By Accel
San Francisco-based artificial intelligence company Scale AI on Tuesday announced that it hit a nearly $14 billion valuation after closing its latest financing round with $1 billion in tow.
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May 21, 2024
Strategic Hiring Was The New Normal For BigLaw In 2023
The 400 largest law firms by headcount in the U.S. grew more slowly in 2023 than in the previous two years, while Kirkland & Ellis LLP surpassed the 3,000-attorney threshold, according to the latest Law360 ranking.
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May 21, 2024
The Law360 400: Tracking The Largest US Law Firms
The legal market expanded more tentatively in 2023 than in previous years amid a slowdown in demand for legal services, especially in transactions, an area that has been sluggish but is expected to quicken in the near future.
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May 21, 2024
Cisco Slips Ex-Workers' Suit Over BlackRock Funds, For Now
A California federal judge threw out a proposed class action that former workers brought accusing Cisco of breaching federal benefits law by including several BlackRock funds as options in its $16.4 billion 401(k) plan, saying the ex-employees failed to put forward meaningful comparator investments to support their claims.
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May 21, 2024
FCC Aims To Shut Down Scam Robocall Campaign
The Federal Communications Commission is telling a Chicago-based voice service provider to immediately stop originating millions of illegal robocalls marketing purported debt consolidation or face sanctions.
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May 20, 2024
Scarlett Johansson 'Shocked, Angered' By ChatGPT AI Voice
Scarlett Johansson revealed in a statement Monday that she declined OpenAI CEO Sam Altman's offer to voice the current ChatGPT, but said she was "shocked, angered and in disbelief" when she recently heard a demo of the generative artificial intelligence system's voice that "sounded so eerily similar" to her own.
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May 20, 2024
Bungie Takes Aim At Cheat Code Sellers In Copyright Trial
Video game studio Bungie kicked off a Seattle copyright trial on Monday by telling federal jurors a group of cheat code sellers deleted financial records and other data and even fabricated a fake press release about the sale of their website to throw Bungie and its attorneys off their scent.
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May 20, 2024
Snap Hit With Wrongful Death Suit Over 13-Year-Old's Suicide
The mother of a 13-year-old boy hit Snapchat's parent company Snap Inc. with a wrongful death suit in South Carolina federal court on Friday, alleging that her son died by suicide after a predator extorted him by posing under a fake name on the social media company's platform.
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May 20, 2024
Autonomy CEO Reaped $516M From HP Acquisition, Jurors Told
Ex-Autonomy CEO Michael Lynch took home more than $516 million from the software company's $11.7 billion sale to HP, an FBI agent testified Monday as the government's last witness in a trial over allegations Lynch duped HP into overpaying to buy the company.
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May 20, 2024
Teladoc Faces Suit Over Mental Health Platform's Losses
Telemedicine giant Teladoc Health Inc. and two of its executives face a proposed investor class action alleging trading prices for Teladoc shares fell after the company disclosed that its flagship mental health counseling platform saw membership and revenue declines despite increased advertising costs.
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May 20, 2024
Colo. Gov. Voices 'Reservations' In Signing AI Bias Bill
Colorado's governor has approved the nation's first framework to clamp down on algorithmic discrimination in certain artificial intelligence technologies, although he expressed several "reservations" about the measure that he urged the Legislature to address before the law takes effect in 2026.
Expert Analysis
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Employer Pointers As Wage And Hour AI Risks Emerge
Following the Biden administration's executive order on artificial intelligence, employers using or considering artificial intelligence tools should carefully assess whether such use could increase their exposure to liability under federal and state wage and hour laws, and be wary of algorithmic discrimination, bias and inaccurate or incomplete reporting, say attorneys at ArentFox Schiff.
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Webpages Must Meet Accessibility Standard To Be Prior Art
The Patent Trial and Appeal Board's First Solar Inc. v. Rovshan Sade decision, that an available internet resource doesn't necessarily qualify as a prior art "printed publication" that is publicly accessible, serves as a reminder of the unforgiving requirements that must be satisfied to establish that a reference is a printed publication, say attorneys at Akin.
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Employers, Prep For Shorter Stock Awards Settlement Cycle
Companies that provide equity compensation in the form of publicly traded stock will soon have one less day to complete such transactions under U.S. Securities and Exchange Commission and Nasdaq rules — so employers should implement expedited equity compensation stock settlement and payroll tax deposit procedures now, say attorneys at Morgan Lewis.
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The Pros And Cons Of Protecting AI As Trade Secrets
Despite regulatory trends toward greater transparency of artificial intelligence models, federal policy acknowledges, and perhaps endorses, trade secret protection for AI information, but there are still hurdles in keeping AI information a secret, say Jennifer Maisel and Andrew Stewart at Rothwell Figg.
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Complying With Enforcers' Ephemeral Messaging Guidance
Given federal antitrust enforcers’ recently issued guidance on ephemeral messaging applications, organizations must take a proactive approach to preserving short-lived communications — or risk criminal obstruction charges and civil discovery sanctions, say attorneys at Manatt.
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New FinCEN Guide Provides Useful BOI Context For Banks
Financial institutions should review a new Financial Crimes Enforcement Network compliance guide for helpful details about how the agency's beneficial ownership information database should be used, though questions remain about the access rule and whether it will truly streamline bank borrowers' Corporate Transparency Act due diligence, says George Singer at Holland & Hart.
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What's New In FDA's Updated Data Monitoring Guidance
The U.S. Food and Drug Administration's new guidance on the use of data monitoring committees in clinical trials is set to replace the agency's 2006 guidance on the topic, with notable updates including stronger language indicating a more stringent stance against financial conflicts of interest and adaptation to recent changes in DMC structure, say attorneys at Hogan Lovells.
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Strategies For Single-Member Special Litigation Committees
The Delaware Supreme Court's recent order in the Baker Hughes derivative litigation allowing testimony from a single-member special litigation committee highlights the fact that, while single-member SLCs are subject to heightened scrutiny, they can also provide unique opportunities, says Josh Bloom at MoloLamken.
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How Firms Can Ensure Associate Gender Parity Lasts
Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.
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Bracing Cos. For Calif. Privacy Agency's Restored Authority
A recent California state appeals court decision greenlights the California Privacy Protection Agency's enforcement of certain consumer privacy regulations, which may speed up compliance requirements, so businesses considering use of artificial intelligence, for instance, may want to reassess their handling of privacy notices and opt-out requests, say Kevin Angle and Matthew Cin at Ropes & Gray.
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Fed. Circ. In Feb.: Using Prior Products To Invalidate A Patent
The Federal Circuit's recent Weber v. Provisu ruling, that prior-product operating manuals constituted printed publications that can be used to invalidate patents in an inter partes review proceeding, makes it easier for a petitioner to invalidate a patent, say Sean Murray and Jeremiah Helm at Knobbe Martens.
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How Cos. Can Assess Open-Source Contribution Patent Risks
Recent trends underscore the importance of open-source software to the technology industry for both engineering and strategic purposes, and companies should consider using a framework that addresses whether contributions require granting licenses to patent claims in portfolios to analyze associated risks, says Shrut Kirti at TAE Technologies.
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7 Common Myths About Lateral Partner Moves
As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.
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Following The Road Map Toward Quantum Security
With the Financial Conduct Authority’s recent publication of a white paper on a quantum-secure financial sector, firms should begin to consider the quantum transition early — before the process is driven by regulatory obligations — with the goal of developing a cybersecurity architecture that is agile while also allowing for quantum security, say lawyers at Cleary.
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What's At Stake In Pending Fed. Circ. Design Patent Test Case
The full Federal Circuit recently heard argument in LKQ v. GM Global, a case concerning patent obviousness in the aftermarket for auto parts; the court's decision will likely influence how design patents are obtained, enforced and challenged, and affect the broader innovation ecosystem, says Larry DeMeo at Hunton.