Corporate

  • April 12, 2024

    Up Next At High Court: Jan. 6, Gratuities & Ineffective Attys

    The U.S. Supreme Court will return Monday for the term's last two weeks of oral arguments, during which it will consider whether the U.S. Department of Justice can use the Sarbanes-Oxley Act to prosecute defendants accused of storming the U.S. Capitol on Jan. 6, 2021, and the correct standard courts should apply when reviewing malicious prosecution claims.

  • April 12, 2024

    NY Court System Launches Panel To Study AI Risks, Rewards

    New York's state court system has announced a new statewide advisory panel to study how the potential implementation of artificial intelligence could improve justice in the Empire State, as well as ways to avoid ethical risks posed by the new technology.

  • April 12, 2024

    Trump Media Attys Flag Co-Founders' Del. Suit Expansion

    Attorneys for Trump Media & Technology Group and its insiders have objected to what they say is an attempt by two co-founders to secure fast-tracking of an expanded but still-sealed Chancery Court lawsuit initially focused on share-dilution claims against company insiders.

  • April 12, 2024

    The Week In Trump: Catch Up On The Ex-President's Cases

    Donald Trump and his legal team proved that they are nothing if not persistent as they repeatedly tried — and failed — to hit the brakes on the former president's porn star hush money trial in Manhattan.

  • April 12, 2024

    Off The Bench: Ohtani 'Victim' In Theft, Arbitration Nod To NFL

    In this week's Off The Bench, Shohei Ohtani looks to get off the hook on sports-betting allegations while his former interpreter faces charges, the NFL wins a critical court victory in the Brian Flores lawsuit, and troubled WWE founder Vince McMahon cuts even more financial ties with the company.

  • April 12, 2024

    Ex-Amazon Engineer Gets 3 Years For $12M Crypto Hacks

    The former technical lead of Amazon's "bug bounty" program was sentenced in Manhattan federal court Friday to three years in prison for using his specialized computer engineering skills to steal more than $12 million from two decentralized cryptocurrency exchanges.

  • April 12, 2024

    GC Cheat Sheet: The Hottest Corporate News Of The Week

    Key congressional leaders announced a surprising deal on a national data privacy framework, and a Republican congressman said he plans to ask the U.S. Securities and Exchange Commission to push back the compliance timeline for controversial rules governing corporate climate disclosures. These are among the stories in corporate legal news you may have missed in the past week.

  • April 12, 2024

    Moses & Singer Hires New Private Clients Chair, Trusts Expert

    Moses & Singer LLP has hired a new chairman of its private clients group, who joins the firm after spending over a decade navigating trusts and estates matters with Kudman Trachten Aloe Posner LLP.

  • April 12, 2024

    Justices Limit Shareholder Suits Over Corporate Disclosures

    A unanimous U.S. Supreme Court on Friday ruled that a corporation's failure to disclose certain information about its future business risks, absent any affirmative statement that would make such silence misleading, cannot itself be the basis of a private securities fraud claim.

  • April 12, 2024

    High Court Keeps Arbitration Exemption's Focus On Workers

    The U.S. Supreme Court held Friday that distributors who delivered Tastykake, Wonder bread and other baked goods to retailers may qualify for an exemption from the Federal Arbitration Act that could let them keep their wage-and-hour suit in court.

  • April 12, 2024

    Apple Loses Bid To Toss $1B App Maker Charges Case

    The Competition Appeal Tribunal refused on Friday to toss a £785 million ($996 million) proposed class action by app developers against Apple over commission payments after finding that the claimants had a real shot at showing that the case was governed by U.K. law.

  • April 11, 2024

    Autonomy Became Less Transparent Before Sale, Jury Told

    An ex-market analyst testifying Thursday in a California criminal trial over claims that former Autonomy CEO Michael Lynch duped HP into buying the British company for $11.7 billion told jurors that the company became less forthcoming about some of its accounting a couple of years before the sale.

  • 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.

Expert Analysis

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • Innodata Suit Highlights 'AI Washing' Liability Risk For Cos.

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    A class action against software company Innodata over so-called AI washing, one of the first of its kind, underscores the litigation and enforcement risks that can arise from the U.S. Securities and Exchange Commission's novel theory about misleading artificial intelligence capabilities, say attorneys at Bracewell.

  • For Now, Generative AI Is Risky For Class Action Counsel

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    Although a recent survey showed most in-house counsel think that their outside counsel should be using generative artificial intelligence "in some way" in class action work, the technology is more a target for class actions than it is a tool to be used in practice at present, says Matthew Allen at Carlton Fields.

  • Shaping Speech Policies After NLRB's BLM Protest Ruling

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    After the National Labor Relations Board decided last month that a Home Depot employee was protected by federal labor law when they wore a Black Lives Matter slogan on their apron, employers should consider four questions in order to mitigate legal risks associated with workplace political speech policies, say Louis Cannon and Cassandra Horton at Baker Donelson.

  • The Epic Antitrust Cases And Challenges Of Injunctive Relief

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    The Epic cases against Apple and Google offer a window into the courts' considerable challenges in Big Tech litigation and establishing injunctive relief that enhances competition and benefits consumers, say Kelly Lear Nordby and Jon Tomlin at Ankura Consulting.

  • Banks Should Continue To Prep For CFPB Data Rule Rollout

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    Consumer Financial Protection Bureau-supervised banks should not expect industry pressure to delay the rollout of proposed Section 1033 open banking rules, which regulate how consumer financial information flows between financial institutions, and prepare their required data access portals and compliance procedures now, say attorneys at Troutman Pepper.

  • UMG-TikTok IP Rift Highlights Effective Rights Control Issues

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    Despite Universal Music Group's recent withdrawal of TikTok's licensing rights to its music catalog, the platform struggles to control uploads and reproductions of copyrighted material, highlighting the inherent tension between creative freedom and effective rights control in the age of social media, says Simon Goodbody at Bray & Krais.

  • FERC's Updated Settlement Policy Comes With Risks For Cos.

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    The Federal Energy Regulatory Commission's newly streamlined enforcement settlement policy may increase investigation subjects' regulatory risk, so they should consider measures to protect themselves, such as periodically assessing compliance programs and mitigating any weaknesses, say attorneys at Willkie.

  • Tips For CCOs Submitting Annual Compliance Reports

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    Recent settlement actions by the U.S. Commodity Futures Trading Commission, coupled with statements made by both CFTC and U.S. Securities and Exchange Commission leadership, demonstrate why this year's chief compliance officer annual report filing is no ordinary exercise, and highlight the increasing importance of the report and its usage, say attorneys at Steptoe.

  • Legal Considerations For Circular Economy Strategies

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    As circular economy goals — generating revenue at multiple points in a product's life cycle — become nearly ubiquitous in corporate sustainability practices, companies should reassess existing strategies by focusing on government incentives, regulations, and reporting and disclosure requirements, say Rachel Saltzman and Erin Grisby at Hunton.

  • Decline In Same-Industry M&A Tells A Nuanced Policy Story

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    In light of newly available Hart-Scott-Rodino Act data suggesting that intraindustry mergers are down overall and pharmaceutical and hospital intraindustry transactions tend to face greater antitrust scrutiny than in the past, attorneys at Morgan Lewis explore whether Biden administration enforcement policies may be curbing pro-competitive strategic M&A.

  • SEC's Final Climate Disclosure Rules: What Cos. Must Know

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    While the U.S. Securities and Exchange Commission's scaled-back final rules requiring public companies to disclose certain climate-related information still face challenges in court, companies should begin preparing now to comply with the rules, say Celia Soehner and Erin Martin at Morgan Lewis.

  • Tips For Orgs Facing AI Data Privacy Compliance Challenges

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    Regulators around the world are actively seeking to enforce data privacy and consumer protection laws against companies providing artificial intelligence-related services, raising complex compliance questions in areas like transparency, data minimization, lawfulness of processing, data subject rights and higher risk activities, say attorneys at Hogan Lovells.

  • Caremark 2.0 Lends Shareholders Agency Against Polluters

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    The Caremark doctrine has been liberalized by recent Delaware court decisions into what some have termed a 2.0 version, making derivative cases against corporations far more plausible and invigorating oversight duty on environmental risks like toxic spills and air pollution, say Joshua Margolin and Sean Goldman-Hunt at Selendy Gay.

  • Behind The 'CVR Spin' Method Of Unlocking Assets In M&A

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    The spinoff of contingent value rights, or the CVR spin, can unlock secondary and noncore assets in public mergers and acquisitions, while resolving the market dislocation of some traditional divestitures, say attorneys at Gibson Dunn.

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