Corporate

  • April 11, 2024

    Proposed BIPA Penalty Reforms Advance In Ill. Legislature

    The Illinois Senate on Thursday passed legislation that would update the Biometric Information Privacy Act as well as tweak its liability guidelines, a clarification that proponents say is needed to protect businesses from costly, frivolous litigation.

  • April 11, 2024

    3 Firms Guide Safety Inspection Firm UL's Upsized $946M IPO

    Safety inspection company UL Solutions Inc. on Thursday completed a larger-than-anticipated $946 million initial public offering near the top of its price range, guided by three law firms.

  • April 11, 2024

    PCAOB Says China Focus Boosted Its '23 Enforcement Haul

    The Public Company Accounting Oversight Board said in a report released Thursday that its first China-based enforcement actions helped it rake in a record-breaking $20 million in civil penalties for auditor violations last year, a second-year record that it is already set to surpass in 2024.

  • April 11, 2024

    FTC's Bedoya Looking For Market Power In Pricing Cases

    Federal Trade Commissioner Alvaro Bedoya said Thursday he is most interested in bringing potential cases under the Robinson Patman Act when a company is using its market power to gain an unfair advantage over smaller rivals.

  • April 11, 2024

    Orrick To Pay $8M To Settle Data Breach Litigation

    A proposed class of data-breach victims asked a California federal judge Thursday to greenlight an $8 million settlement with Orrick Herrington & Sutcliffe LLP in litigation over a March 2023 data breach that purportedly exposed Social Security numbers and other personal information of more than 638,000 individuals.

  • April 11, 2024

    Wells Fargo Wants Ex-CEO's $34M Back-Pay Suit Tossed

    Wells Fargo & Co. has asked a California state court to throw out a lawsuit filed by former CEO Timothy Sloan that seeks $34 million in compensation he alleges was wrongfully withheld from him, a payout the bank maintains it doesn't owe.

  • April 11, 2024

    Price-Fixing Cartel Self Reporting On 'Steady Uptick,' Panel Says

    U.S. and European antitrust enforcers touted a turnaround Thursday in the number of companies self-reporting price-fixing, bid-rigging and market allocation schemes in the search for "leniency" from financial and criminal penalties over the last three years.

  • April 11, 2024

    FTC 'Hopeful' Merger Judges Can See Past Market Definition

    The Federal Trade Commission's top antitrust enforcer emphasized Thursday that the FTC and Justice Department's new merger guidelines could facilitate transaction challenges based solely on "direct" competitive effects, regardless of what market definition numbers indicate.

  • April 11, 2024

    Summary Judgment 'Waste Of Time' In 401(k) Suit, Judge Says

    Boston College will face a trial in a suit accusing the school of mismanaging its 401(k) retirement plans after a Massachusetts federal judge issued a 126-page memorandum Thursday in which he blamed himself for a "monumental waste of time" that was the two sides' summary judgment proceeding.

  • April 11, 2024

    JPMorgan Analyst's Acquittal Sinks Stock Tip Case, Man Says

    A Los Angeles man is planning a Ninth Circuit appeal after he was found guilty of trading on privileged information supplied by a childhood friend who was an analyst at JPMorgan Securities LLC, reasoning that he could not be guilty because the friend was acquitted at a separate trial.

  • April 11, 2024

    Visa Beats Some Merchant Claims In Antitrust MDL

    A New York federal judge has trimmed claims lodged by Home Depot and other merchants against Visa and several banks in sprawling multidistrict antitrust litigation dating back to 2005 over network rules forcing merchants to accept the companies' cards.

  • April 11, 2024

    Flopped Casino SPAC Investor Sues In Del. To Block Payout

    An investor in a special purpose acquisition company that made a doomed, $2.7 billion effort to buy a casino in the Philippines has asked Delaware's Court of Chancery to prevent the SPAC from redeeming its outstanding shares, arguing it would violate Delaware law because the SPAC is insolvent.

  • April 12, 2024

    Rash Of 401(k) Forfeiture Suits Approach First Hurdles

    Several recent lawsuits challenging how employers use 401(k) forfeitures — which occur when a worker leaves before an employer's matching contributions fully vest — are approaching critical early tests, with rulings expected on dismissal bids in the coming months. Here, Law360 looks at how this area of Employee Retirement Income Security Act litigation has gained traction, and what to look out for next.

  • April 11, 2024

    Birth Control Injury Claims Barred From Conn., Court Told

    Connecticut state courts have no basis to exercise jurisdiction over three of the four companies targeted in product liability lawsuits brought by 103 women who claim their Filshie Clip birth control devices migrated within their bodies and caused injuries, counsel for the defendants told a Waterbury judge Thursday.

  • April 11, 2024

    Deals Rumor Mill: US Steel, Germany's Stada, Paramount

    The DOJ opens a probe into Nippon’s proposed $14.9 billion takeover of US Steel, German drugmaker Stada explores a sale, and Paramount and Skydance are hashing out potential deal terms. Here, Law360 breaks down these and other notable deal rumors from the past week.

  • April 11, 2024

    NPE Patent Suits Up 24% In First Quarter Of 2024

    Patent lawsuits from nonpracticing entities are on the rise yet again, with many being filed in the Eastern District of Texas, according to a new report.

  • April 11, 2024

    Del. Justices OK Denial Of Icahn-Illumina Midcase Appeal Bid

    Billionaire investor Carl Icahn may not put his Chancery Court litigation against biotechnology company Illumina Inc.'s board on hold for a review of a decision that struck portions of the complaint that were based on confidential information, Delaware's Supreme Court said Thursday, upholding the lower court's rejection of the midcase appeal.

  • April 11, 2024

    Judge Grants $3.2M In Fees For Wawa Class Counsel

    There is no evidence of side agreements or collusion between attorneys representing a proposed class in a suit against Wawa Inc. and the convenience store's defense counsel, according to a Pennsylvania federal judge's order approving $3.2 million in attorney fees following appellate court review.

  • April 11, 2024

    1st Challenge To NLRB Structure Axed For Lack Of Standing

    A Washington, D.C., federal judge tossed a constitutional challenge to the National Labor Relations Board's structure filed by two Starbucks employees, ruling that the National Right to Work Legal Defense Foundation-represented baristas did not have standing to sue.

  • April 11, 2024

    FTX Brass, Investors Can't Move Bankruptcy Suit To MDL

    The Judicial Panel on Multidistrict Litigation on Thursday denied a bid to move a Delaware bankruptcy proceeding regarding the collapse of cryptocurrency exchange FTX Trading Ltd. to an ongoing multidistrict litigation brought by the company's investors seeking to recoup their losses.

  • April 11, 2024

    Treasury Proposes Steeper Foreign Investment Law Penalties

    The U.S. Department of the Treasury issued a notice Thursday proposing to sharpen its procedures and enforcement practices for reviewing foreign investment deals for national security issues, according to an announcement.

  • April 11, 2024

    Apple Must Face Former Executive's Trimmed Age Bias Suit

    A California federal judge narrowed a former Apple executive's suit alleging his age led the company to withhold bonuses, though the suit stands, as the judge said it sufficiently showed a contract was breached when the company did not pay a hefty stock retention bonus.

  • April 10, 2024

    No Merit To Autonomy Whistleblower Claims, Auditor Says

    A Deloitte partner testifying in a California criminal trial over claims that former Autonomy CEO Michael Lynch and finance director Stephen Chamberlain duped HP into buying the British tech company for $11.7 billion said Wednesday that auditors concluded that whistleblower allegations by a finance department executive were meritless.

  • April 10, 2024

    GOP Rep. Calls On SEC To Delay Climate Rule Compliance

    A Republican congressman said Wednesday that he plans to ask the U.S. Securities and Exchange Commission to push back the compliance timeline for controversial rules governing corporate climate disclosures, indicating that the agency's agreement to temporarily stay the rules' implementation during the course of a legal challenge is not enough.

  • April 10, 2024

    Texas Panel Seeks Evidence In $1M Real Estate Quagmire

    A Texas appellate panel suggested Wednesday that both sides fighting about a soured real estate financing deal need to do more to make their cases, asking attorneys during oral arguments to point to evidence that either confirms or refutes the existence of a contract.

Expert Analysis

  • Series

    ESG Around The World: Gulf Cooperation Council

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    The Gulf Cooperation Council is in the early stages of ESG policy implementation, but recent commitments by both states and corporations — including increases in sustainable finance transactions, environmental commitments, female representation on boards and human rights enforcement — show continuing progress toward broader ESG goals, say attorneys at Cleary.

  • Steps For Companies New To Sanctions Compliance

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    Businesses newly required to implement compliance programs due to the increased breadth of mandatory sanctions and export controls, including 500 additional Russia sanctions announced last Friday, should closely follow the guidance issued by the Office of Foreign Assets Control and other regulators, say Jennifer Schubert and Megan Church at MoloLamken.

  • A Cautionary Tale On Hospital-Physician Alignment Structures

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    A $345 million settlement between the U.S. Department of Justice and Community Health Network highlights how quickly hospital and physician alignment relationships can violate legal restrictions on such dealings, and the onerous financial penalties that can ensue, say Robert Threlkeld and Elliott Coward at Morris Manning.

  • Using Arbitration And Class Waivers As Privacy Suit Tools

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    Amid a surge in data breach class actions over the last few years, several federal court decisions indicate that arbitration clauses and class action waiver provisions can be possible alternatives to public court battles and potentially reduce the costs of privacy litigation, say Mark Olthoff and Courtney Klaus at Polsinelli.

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.

  • Cos. Must Know How NY, Federal LLC Disclosure Laws Differ

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    Though New York state's new LLC Transparency Act and the federal Corporate Transparency Act impose similar beneficial owner reporting obligations on limited liability companies, New York LLCs should study the important differences between the laws to ensure they are prepared to comply with both, say Abram Ellis, Olenka Burghardt and Jane Jho at Simpson Thacher.

  • Opinion

    Biden Admin's March-In Plan Would Hurt Medical Innovation

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    The Biden administration's proposal to reinterpret the Bayh-Dole Act and allow the government to claw back patents when it determines that a commercialized product's price is too high would discourage private investment in important research and development, says Ken Thorpe at the Rollins School of Public Health.

  • 9 Considerations For Divestitures, Carveouts And Spinouts

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    Amid new economic optimism, data protection, transitional services and seven other considerations can help legal practitioners untangle complex divestitures, carveouts and spinouts to unlock value for corporate sellers, say Kimberly Petillo-Décossard and Kristen Rohr at White & Case.

  • Why Fla. High Court Adopting Apex Doctrine Is Monumental

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    The Florida Supreme Court recently solidified the apex doctrine in the Sunshine State, an important development that extends the scope of the doctrine in the state to include both corporate and government officials, and formalizes the requirements for a high-level corporate official to challenge a request for a deposition, says Laura Renstrom at Holland & Knight.

  • 5 Lessons For SaaS Companies After Blackbaud Data Breach

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    Looking at the enforcement actions that software-as-a-service provider Blackbaud resolved with state attorneys general, the U.S. Securities and Exchange Commission and the Federal Trade Commission in the past year can help SaaS companies manage these increasingly common forms of data breaches, say attorneys at Orrick.

  • Key Lessons After A Rare R&W Insurance Ruling

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    The recent New York state court decision in Novolex Holdings v. Illinois Union Insurance is noteworthy as one of the rare judicial opinions arising in the context of representations and warranties insurance, serving to remind parties entering into R&W insurance policies that they may not be immune from some doctrines unfavorable to insurers, say attorneys at Kramer Levin.

  • Del. Ruling Stands Out In Thorny Noncompete Landscape

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    In Cantor Fitzgerald v. Ainslie, the Delaware Supreme Court last month upheld the enforceability of forfeiture-for-competition provisions in limited partnership agreements, providing a noteworthy opinion amid a time of increasing disfavor toward noncompetes and following a string of Chancery Court rulings deeming them unreasonable, say Margaret Butler and Steven Goldberg at BakerHostetler.

  • Class Actions At The Circuit Courts: February Lessons

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    In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses five notable circuit court decisions on topics from property taxes to veteran's rights — and provides key takeaways for counsel on issues including class representative intervention, wage-and-hour dispute evidence and ascertainability requirements.

  • A Refresher On Witness Testimony In 3 Key Settings

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    The recent controversy over congressional testimony from university presidents about antisemitism on campus serves as a reminder to attorneys about what to emphasize and avoid when preparing witnesses to testify before Congress, and how this venue differs from grand jury and trial proceedings, say Jack Sharman and Tyler Yarbrough at Lightfoot Franklin.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

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