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April 16, 2024
Genesis To Return $2B Of Crypto Under Gemini Settlement
Bankrupt crypto lender Genesis will return 97% of digital assets from a customer program with crypto platform Gemini by early May after a New York bankruptcy judge on Tuesday approved a settlement that attorneys for Genesis said closes out bitter disputes and sets it up to repay other creditors under a Chapter 11 plan.
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April 16, 2024
Virginia Judge Tosses State Broadband Law Challenge
The Association of American Railroads has lost its challenge to a Virginia federal law that gives broadband providers easier access to railroad property and that the group says constitutes illegal taking, after a judge knocked out all the suit's claims for various reasons.
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April 16, 2024
BIPA Judge Laments Blown Discovery Deadlines — Again
An Illinois federal judge on Monday scolded Union Pacific and the truck drivers suing it over alleged biometric privacy violations for missing a sixth discovery deadline, saying the results of multiple discovery extensions he's allowed over five years of litigation have been "disappointing, to say the least."
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April 16, 2024
GOP Senators Call IRS' E-File Program Too Costly
Senate Republicans continued to criticize the Internal Revenue Service's free tax filing pilot program during a Finance Committee hearing Tuesday, saying the program has not followed best practices and will be costly to implement long term.
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April 16, 2024
IBM Gained Most AI Patents By Far In 2023
IBM obtained more U.S. artificial intelligence patents in 2023 than any other company, with its closest competitors falling behind by more than 300 patents, according to a Harrity Patent Analytics report announced Tuesday.
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April 16, 2024
South State Bank Breach Exposed 1 Million People, Suit Says
South State Bank is facing a proposed class action accusing it of negligence following a February data breach that allegedly compromised the personal information of more than a million current and former customers.
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April 16, 2024
Public Advocates Say Surveillance Cams Could Disrupt Wi-Fi
Advocacy groups are banding together against Axon's bid for a Federal Communications Commission rule waiver to operate high-powered surveillance cameras, saying their signals could disrupt Wi-Fi use, especially in low-income neighborhoods.
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April 16, 2024
Court Urged Not To Quash Google's Agency Subpoenas
A special master has recommended that a Texas federal court allow Google to interview witnesses from three state agencies as the tech giant defends against a case from state-level enforcers accusing it of monopolizing key digital advertising technology.
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April 16, 2024
Sanctions In Byju's Ch. 11 Should Be Paused, Court Hears
Camshaft Capital, a hedge fund facing an adversary action from the Chapter 11 creditors of Byju's, has asked a Delaware federal court to stay a contempt order the bankruptcy court entered against the investment firm and its principal while it appeals the sanctions and a preliminary injunction.
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April 16, 2024
Del. Justices OK Midcase Review Of TripAdvisor Move
Delaware's Supreme Court will consider whether the Court of Chancery properly denied TripAdvisor's motion to dismiss a shareholder lawsuit over its corporate move to Nevada, finding that a midcase appeal of the ruling involves a question of law and could be "beneficial."
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April 16, 2024
Zuckerberg Dodges Liability In Meta Addiction MDL, For Now
A California federal judge has tossed certain fraud-by-omission claims seeking to hold Meta Platforms CEO Mark Zuckerberg personally liable in sprawling multidistrict litigation over social media platforms' allegedly addictive design, but she allowed the plaintiffs to amend their allegations to assert a new theory of corporate officer liability against Zuckerberg.
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April 16, 2024
AT&T Unit Urges Justices To Weigh In On FCC E-Rate Saga
An AT&T subsidiary is asking the U.S. Supreme Court to rule on whether reimbursement requests for the Federal Communications Commission's E-rate program for schools and libraries are "claims" under the False Claims Act, part of a whistleblower suit accusing the company of overcharging public schools and libraries.
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April 16, 2024
Smartmatic Settles Election Defamation Suit Against OANN
Electronic voting system company Smartmatic has settled its defamation suit in Washington, D.C., federal court alleging One America News Network peddled conspiracy theories claiming the firm rigged voting machines during the 2020 presidential election, the company said in a statement Tuesday.
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April 16, 2024
Media Watchdog Wants X Corp. Kept Out Of 'Privileged Affairs'
A left-wing media watchdog wants X Corp. to keep its hands away from its donor lists, internal communications and other "privileged affairs" as a Texas federal court ponders the nonprofit's motion to dismiss, saying the social network has made "sweeping and harassing" discovery requests.
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April 16, 2024
Magnesium Capital Clinches €135M Inaugural Fund
Energy-transition private equity-buyout firm Magnesium Capital, advised by Simpson Thacher & Bartlett LLP, on Tuesday announced it had closed its inaugural fund above target after raising €135 million ($143.4 million).
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April 16, 2024
Excess Carriers Say Property Co. Not Covered In Antitrust Suit
Two excess insurers said they don't owe coverage to a property management company for underlying litigation alleging a price-fixing conspiracy involving software company RealPage Inc., telling a Massachusetts federal court that a professional services exclusion in the primary policy bars coverage.
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April 16, 2024
Microsoft, OpenAI Say Intercept's IP Suit Should Be Axed
Microsoft and OpenAI have asked a Manhattan federal judge to dismiss a complaint by The Intercept accusing the companies of removing author and copyright information from material allegedly used to train ChatGPT, saying the publication lacks standing to sue because it has provided no evidence to support its claims.
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April 16, 2024
Cybersecurity-Focused PE Firm Secures $1.1B For 3rd Fund
Cybersecurity-focused private equity firm Evolution Equity Partners on Tuesday announced that it raised $1.1 billion of capital commitments for its third technology-focused fund, which will be used to back entrepreneurs building cybersecurity companies.
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April 16, 2024
Chancery Tosses Zelle Fraud Suit Against JPMorgan Directors
A JPMorgan Chase & Co. shareholder that sued the bank's board for allegedly ignoring fraud on the payment platform Zelle has not shown the bank failed to respond to the problem, a Delaware Chancery Court judge ruled Tuesday, dismissing the shareholder's case.
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April 16, 2024
Cooley-Led Data Security Firm Rubrik Eyes $679M IPO
Venture-backed data security firm Rubrik Inc. on Tuesday launched plans for an estimated $679 million initial public offering, hoping to capitalize on an upturn in technology listings.
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April 15, 2024
Ex-Autonomy Exec Testifies To Handshake Deals, Backdating
Autonomy's former U.S. head of sales testified for the prosecution Monday in the criminal fraud trial of founder Michael Lynch, saying he boosted sales figures via "quid pro quo" handshake deals with customers, created pretextual emails to cover his tracks and even backdated a deal to meet revenue targets.
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April 15, 2024
Mental Health Co. Cerebral To Pay $7M Over Data Failures
Mental health service provider Cerebral Inc. will pay more than $7 million to settle claims from the Federal Trade Commission, saying it failed to protect users' sensitive health data and made it difficult for patients to cancel services and stop recurring charges, according to a Monday court filing.
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April 15, 2024
Trump Media Files To Register More Shares For Potential Sale
The newly public owner of former President Trump's social media platform Truth Social filed paperwork on Monday to issue an additional 21.5 million shares and register for resale about 146 million existing shares, including a large stake owned by Trump.
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April 15, 2024
Resistance To Patent Licenses Drives More Suits, Execs Say
Companies that generate revenue from patents are seeing less willingness to negotiate in recent years among businesses they approach about potential licenses, requiring more litigation in order to reach agreements, executives from IBM, InterDigital and others said Monday.
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April 15, 2024
Expert's Disney Trip Is No Reason To Delay Trial, Court Told
A technical expert's $14,000 vacation to Disney World isn't the kind of circumstance that ought to delay a patent trial in which he's due to appear in on behalf of a Taiwanese monitor maker, a federal court in Waco, Texas, has been told.
Expert Analysis
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NC TikTok Order Holds Lessons On Handling State AG Probes
Earlier this month, a North Carolina appeals court compelled TikTok to give the state attorney general information relating to 98,000 recorded Zoom meetings, reminding companies that successful civil litigation strategies may have the opposite effect in the state or regulatory investigation context, say attorneys at Troutman Pepper.
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AI Inventorship Patent Options After UK Supreme Court Ruling
The U.K. Supreme Court's recent ruling in Thaler v. Comptroller-General of Patents, Designs and Trade Marks that an AI system cannot be an inventor raises questions about alternative approaches to patent protection for AI-generated inventions and how the decision might affect infringement and validity disputes around such patents, says David Knight at Brown Rudnick.
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Considerations For Lawyer Witnesses After FTX Trial
Sam Bankman-Fried's recent trial testimony about his lawyers' involvement in FTX's business highlights the need for attorney-witnesses to understand privilege issues in order to avoid costly discovery disputes and, potentially, uncover critical evidence an adversary might seek to conceal, says Lawrence Bluestone at Genova Burns.
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Del. Dispatch: Efforts Clause Trumps Contractual Right
The Delaware Court of Chancery's Chordia v. Lee ruling this month — that the efforts clause set forth in a stockholders' agreement overrode the acquired company's right to fire its officers and employees — highlights key considerations for parties in such agreements to avoid post-acquisition disputes, say attorneys at Fried Frank.
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Taking A Closer Look At Fed. Circ. Claim Construction Split
An empirical analysis of a year's worth of claim construction decisions from the Federal Circuit and four key district court jurisdictions shows that these constructions vary in material ways depending on the analysis' source, and this body of case law would benefit from clarification by the Federal Circuit itself, say attorneys at WilmerHale.
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US Cos. Must Guard Against Russian Diversion Of Goods
Amid allegations that Russia is end-running trade sanctions through the diversion of otherwise innocuous, everyday goods, U.S. industry involved in the manufacture or distribution of electric products must step up its customer and partner due diligence to avoid unwittingly facilitating the weapons proliferation cycle, say attorneys at Arnold & Porter.
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Staying Ahead Of The AI Policymaking Curve
With artificial intelligence poised to be the hottest legislative and regulatory topic in 2024, expect the AI policymaking toolbox to continue to expand and evolve as stakeholders in the U.S. and abroad develop, deploy, use and learn more about these technologies, say attorneys at Hogan Lovells.
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The 7th Circ.'s Top 10 Civil Opinions Of 2023
Attorneys at Jenner & Block examine the most significant decisions issued by the Seventh Circuit in 2023, and explain how they may affect issues related to antitrust, constitutional law, federal jurisdiction and more.
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Employee Experience Strategy Can Boost Law Firm Success
Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.
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What Cos. Can Learn From 2023 Export Enforcement Report
A January report summarizing key actions and policy changes undertaken at the Office of Export Enforcement in 2023 is a valuable indicator of future government priorities and the factors companies should consider as they conduct export operations amid what may be a turbulent international trading environment in 2024, says Thaddeus McBride at Bass Berry.
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Series
Competing In Triathlons Makes Me A Better Lawyer
While practicing law and competing in long-distance triathlons can make work and life feel unbalanced at times, participating in the sport has revealed important lessons about versatility, self-care and perseverance that apply to the office as much as they do the racecourse, says Laura Heusel at Butler Snow.
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Parsing The USPTO's Guidelines For Assessing Enablement
Ryan Hagglund at Loeb & Loeb details the U.S. Patent and Trademark Office's recent guidelines for assessing enablement principles set forth in the U.S. Supreme Court's 2023 Amgen v. Sanofi decision, including how the guidelines can apply to all fields of technology.
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What's In NY's Draft Guidance On AI Use In Insurance
Last week, the New York State Department of Financial Services released proposed guidance for insurers on the use of artificial intelligence systems and external consumer data and information sources for underwriting and pricing purposes, and these standards will likely help form the basis of an eventual nationwide insurance regulatory framework on AI, say attorneys at Sullivan & Cromwell.
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Generative AI Model Evals: A Primer For Compliance Officers
A better understanding of evaluation and benchmarking practices for generative artificial intelligence can help compliance officers and other responsible AI practitioners identify associated risks and the degree to which mitigation might prove effective, say Collin Starkweather and Ekene Chuks-Okeke at Luminos.Law.
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Mitigating Compliance And Litigation Risks Of Evolving Tech
Amid artificial intelligence and other technological advances, companies must prepare for the associated risks, including a growing suite of privacy regulations, enterprising class action theories and consumer protection challenges, and proliferating disclosure obligations, say attorneys at Eversheds Sutherland.