Corporate

  • February 26, 2024

    Chancery Says 'Game Over' On Fee Windfalls For Easy Cases

    A Delaware vice chancellor has publicly slammed stockholder attorneys who sought an $850,000 fee for "minuscule" hours spent on a corporate benefit case after a recent string of suits filed to police stockholder rights to separate class votes on company transactions.

  • February 26, 2024

    Catching Up With Delaware's Chancery Court

    Delaware's Court of Chancery dropped two potentially far-reaching decisions last week: one about founder control at Moelis & Co. and another about TripAdvisor's planned move to Nevada. On top of that, there were new cases involving Citrix Systems, Alcoa Corp., BGC Partners Inc. and Cantor Fitzgerald LP.

  • February 26, 2024

    Real Estate Group Of The Year: Fried Frank

    Fried Frank Harris Shriver & Jacobson LLP helped clients close deals last year for the development of prominent additions to the New York City and Las Vegas skylines, earning the firm a spot among Law360's 2023 Real Estate Groups of the Year.

  • February 26, 2024

    Insurance Co. Beats Claims Analysts' OT Exemption Suit

    A life insurance company prevailed against disability claim analysts alleging they were wrongfully denied overtime pay, as an Illinois federal judge tossed their suit because the workers are administrative employees exempt from overtime requirements.

  • February 26, 2024

    Stinson Adds Bressler Amery's NY Managing Principal

    Stinson LLP has hired its sixth attorney in the past year in New York, who joins its financial services and class action practice division as a partner after working as the managing principal of Bressler Amery & Ross PC's New York office.

  • February 26, 2024

    Trump Calls Biz Bans 'Punitive' In $465M Civil Fraud Appeal

    Donald Trump, his adult sons, his companies and former officers moved to appeal the $464.6 million civil fraud judgment handed down by a New York state judge earlier this month, accusing the judge of overstepping his authority and issuing "punitive" relief.

  • February 26, 2024

    FTC Challenges Kroger's $25B Albertsons Buy

    The Federal Trade Commission announced a new, national front Monday against Kroger's heavily criticized $24.6 billion purchase of fellow grocery store giant Albertsons, challenging a deal it said threatens both shoppers and workers and cannot be saved by the planned divestiture of a "hodgepodge" of hundreds of stores.

  • February 26, 2024

    Justices Pass On Venue Fight In Erie Indemnity Fees Suit

    The U.S. Supreme Court on Monday declined to review the Third Circuit's refusal to transfer a case challenging Erie Indemnity Co. management fees from state court back to federal court, preserving the lower court's precedential ruling that the matter does not qualify as a class action under the Class Action Fairness Act.

  • February 23, 2024

    Amazon Pays $1.9M To Abused Workers In Saudi Arabia

    Amazon has paid $1.9 million to over 700 migrant workers who suffered human rights abuses at two of its warehouses in Saudi Arabia, the company said.

  • February 23, 2024

    Russia Assets Seen As Key To Tipping The Scales For Ukraine

    The 500-plus sanctions the U.S. added against Russia and its enablers Friday will continue to make the Kremlin's war more costly, but experts say the key to a real sea change in Ukraine is giving it Russia's seized assets abroad.

  • February 23, 2024

    SEC Upholds Bar On Ex-RBC Rep Who Cashed Out $1M Error

    The U.S. Securities and Exchange Commission on Friday upheld a disciplinary action against a former RBC Capital Markets LLC representative who was accused of violating his industry's code of conduct when he converted $1 million that his firm accidentally deposited in his personal brokerage account.

  • February 23, 2024

    Netflix, Hulu Don't Owe Franchise Fees, Calif. Panel Rules

    Netflix and Hulu have again beaten a proposed class action from a California city claiming the streaming providers should be regulated like cable companies and pay franchise fees to localities, with a state appeals court ruling the city had no right to private action under a 2006 statute.

  • February 23, 2024

    Google Says Innovation Led To Dominance In Closing Brief

    Google is telling the D.C. federal judge overseeing the U.S. Department of Justice's monopoly case against the search giant that its innovation and relentlessness are the forces driving its dominance in search, not anticompetitive agreements as the Justice Department has alleged.

  • February 23, 2024

    FTC Rips H&R Block's 'Deceptive' Marketing, 'Coercive' Ploys

    The Federal Trade Commission filed an administrative complaint against H&R Block claiming the tax preparation company deceptively marketed some products as "free" and "coerced" people to pay for pricier products, the government agency announced Friday.

  • February 23, 2024

    Barclays Must Face Trimmed Suit Over $17.6B Over-Issuance

    Barclays PLC and a number of its top executives must face a trimmed version of a proposed class action over a financial reporting error that led to Barclays selling more than $17.6 billion in securities over its maximum registered amount, a New York federal judge ruled Friday.

  • February 23, 2024

    Meta Unlikely To Beat Most Of BIPA Suit Over Voiceprints

    A California federal judge on Friday said she's inclined to deny the bulk of Meta Platforms Inc.'s request to dismiss a proposed biometric privacy class action claiming the social media company collects and stores customer voiceprints through its Facebook and Messenger platforms in violation of Illinois' Biometric Information Privacy Act.

  • February 23, 2024

    The New BIPA? Attys Warn GIPA Is A 'Live Grenade'

    After notable appellate victories in biometric privacy cases, Illinois plaintiffs have seized upon a previously little-used law protecting workers' genetic privacy, leaving defense attorneys wondering if history will repeat itself and open companies to potentially explosive liability. 

  • February 23, 2024

    Chancery Scuttles Moelis Pact Ceding Control To Founder

    All but three provisions of a stockholder agreement that gives Moelis & Co. founder Kenneth Moelis board-trumping power over the global investment bank's business are "facially invalid" under Delaware law, a Court of Chancery vice chancellor said Friday in a decision that might have implications for similar stockholder agreements at other companies.

  • February 23, 2024

    Chamber's Report Bemoans Biden's March-In Idea For Drug IP

    The most powerful business lobbying group in the U.S. said that although the country ranked at the top of its annual International IP Index, the Biden administration's efforts to potentially use patent laws to reduce the price of pharmaceuticals would jeopardize its place down the line.

  • February 23, 2024

    Social Media Addiction Fight Akin To Big Tobacco, Judge Says

    A California federal judge appeared skeptical Friday of dismissing claims by parents and children seeking to hold Facebook founder Mark Zuckerberg liable in sprawling personal injury multidistrict litigation over social media's allegedly addictive design, comparing the addiction allegations to Big Tobacco cases that proceeded past the pleading stage.

  • February 23, 2024

    SVB's Cayman Unit Loses Ch. 15 Bid In NY

    A bankruptcy judge in New York has dismissed a petition from the Cayman Islands branch of Silicon Valley Bank that sought U.S. recognition of its Cayman insolvency proceedings, finding that it is not eligible to file a Chapter 15 petition.

  • February 23, 2024

    Judge Won't Reschedule Google's Ad Tech Trial In Va.

    A Virginia federal judge refused a request from Google on Friday to reschedule a slated September trial for the U.S. Department of Justice's ad tech monopolization case, saying the tech giant can overcome a potential timing conflict for its attorneys.

  • February 23, 2024

    Ex-Citrix Chief Hit With Class Action Over $16.5B Sale

    A proposed class of former Citrix Systems Inc. stockholders accused the company's former CEO and chairman Robert M. Calderoni of failing to get enough for stockholders for the $16.5 billion sale of the cloud software company to Vista Equity Partners Management LLC and Elliott Investment Management LP affiliate Evergreen Coast Capital Corp.

  • February 23, 2024

    Trump-Tied SPAC Adds NY Fraud Judgment To Risk Factors

    Digital World Acquisition Corp., which is seeking to merge with Donald Trump's social media company, has included a new warning for investors in a regulatory filing following the former president's $453.5 million fraud penalty in New York state court.

  • February 23, 2024

    Conn. Justices OK $2.9M Cut To Power Co.'s Cost Recovery

    Connecticut's highest court on Friday held that state energy regulators properly trimmed a power company's annual cost recovery bid by more than $2.86 million, agreeing with a lower court that it was not arbitrary or capricious to decline to pass the expense to customers.

Expert Analysis

  • Reassessing Trade Secrets Amid Proposed Noncompete Ban

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    The Federal Trade Commission's proposed ban on noncompete agreements as well as state bans make it prudent for businesses to reevaluate and reinvigorate approaches to trade secret protection, including knowing what information employees are providing to vendors, and making sure confidentiality agreements are put in place before information is shared, says Rob Jensen at Wolf Greenfield.

  • Opinion

    Exxon Court Should Clarify Shareholder Proposal Exclusion

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    ExxonMobil last month took the unusual action of asking a Texas federal judge whether a proposal from climate activists seeking to limit oil and gas sales could be excluded from its 2024 proxy statement, and the court should use this opportunity to reevaluate SEC policy and set clear limits on when shareholder proposals can be included, says Stephen Bainbridge at UCLA School of Law.

  • Mitigating The Risk Of Post-Closing M&A Earnout Disputes

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    Today's uncertain deal environment makes a well-crafted earnout an excellent way for parties to accomplish a desired transaction that would not otherwise occur, but transacting parties also need to take key steps to avoid the risk of post-closing disputes that earnouts can present, say Chad Barton and Claire Lydiard at Holland & Knight.

  • Understanding SEC's Focus Amid Lack Of Final AI Rules

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    Although the U.S. Securities and Exchange Commission's proposed rules to govern artificial intelligence are likely far from being finalized, understanding existing regulatory provisions that could address AI risks with respect to development, disclosure, compliance and data protection could help firms anticipate and avoid pitfalls, say attorneys at Skadden.

  • What's On The Horizon In Attorney General Enforcement

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    A look at recent attorney general actions, especially in the areas of antitrust and artificial intelligence, can help inform businesses on what they should expect in terms of enforcement trends as 10 attorney general races play out in 2024, say attorneys at Cozen O'Connor.

  • Preparing For DOJ's Data Analytics Push In FCPA Cases

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    After the U.S. Department of Justice’s recent announcement that it will leverage data analytics in Foreign Corrupt Practice Act investigations and prosecutions, companies will need to develop a compliance strategy that likewise implements data analytics to get ahead of enforcement risks, say attorneys at Cozen O'Connor.

  • Planning For Stymied HSR Filings At FTC If Shutdown Occurs

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    If the government were to shut down in early March, the inability to submit Hart-Scott-Rodino filings with the Federal Trade Commission would grind transactions to a halt, and parties should consider numerous implications as they are negotiating or planning to close pending transactions, say attorneys at DLA Piper.

  • How High Court SEC Case Could Affect The ITC

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    While the U.S. Supreme Court’s upcoming ruling in U.S. Securities and Exchange Commission v. Jarkesy will likely spare the U.S. International Trade Commission from major operative changes, the ITC’s ability to issue penalties for violations of its orders may change, say Gwendolyn Tawresey and Ryan Deck at Troutman Pepper.

  • 6th Circ. Ruling Breathes New Life Into Article III Traceability

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    The Sixth Circuit's recent decision in Hardwick v. 3M Co. to vacate a district court's certification of one of the largest class actions in American jurisprudence for lack of Article III standing has potentially broader implications for class action practice in the product liability sphere, particularly in medical monitoring cases involving far-fetched theories of causation, say attorneys at Skadden.

  • How 3 New Laws Change Calif. Nonprofits' Legal Landscape

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    Legislation that went into effect on Jan. 1 should be welcomed by California’s nonprofit organizations, which may now receive funding more quickly, rectify past noncompliance more easily and have greater access to the states’ security funding program, say Casey Williams and Brett Overby at Liebert Cassidy.

  • USCIS Fee Increases May Have Unintended Consequences

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    U.S. Citizenship and Immigration Services’ new fee schedule, intended to provide the agency with needed funds while minimizing the impact of higher fees on individual immigrants and their families, shifts too much of the burden onto employers, say Juan Steevens and William Coffman at Mintz.

  • Del. Segway Dismissal Suggests Execs Not Liable For Biz Risk

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    While the debate continues within the Delaware Chancery Court over whether Caremark liability applies to matters of pure business risk, the court's recent rejection of Segway’s suit against the ex-president who oversaw financial difficulties suggests the court is uninterested in undermining the deference the business judgment rule grants corporate fiduciaries, say attorneys at Dechert.

  • Mass Arb. Rule Changes May Be A Hindrance For Consumers

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    The American Arbitration Association's recent changes to its mass arbitration supplementary rules and fee schedule, including a shift from filing fees to initiation and per-case fees, may reduce consumers' ability to counteract businesses' mandatory arbitration agreements, say Eduard Korsinsky and Alexander Krot at Levi & Korsinsky.

  • ChristianaCare Settlement Reveals FCA Pitfalls For Hospitals

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    ChristianaCare's False Claims Act settlement in December is the first one based on a hospital allegedly providing private physicians with free services in the form of hospital-employed clinicians and provides important compliance lessons as the government ramps up scrutiny of compensation arrangements, say attorneys at Sheppard Mullin.

  • Exxon ESG Proxy Statement Suit May Chill Investor Proposals

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    Exxon Mobil’s recent use of a Texas federal lawsuit to intimidate shareholders into withdrawing a climate-friendly proxy proposal could inspire more public companies to sue to avoid adopting ESG resolutions — a power move that would chill activist investor participation and unbalance shareholder-corporate relations, say Domenico Minerva and James Fee at Labaton Keller.

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