Corporate

  • February 27, 2024

    American Airlines Says ESG Doesn't Break Fiduciary Duty

    American Airlines Inc. has asked a Texas federal judge to ground a proposed class action involving environmental, social and governance policies in retirement plans, saying Monday that the plaintiff has no evidence that the airline breached fiduciary duty or that he suffered a loss.

  • February 27, 2024

    BNSF Made $75M BIPA Deal After Landmark Award Wiped Out

    A class of truck drivers have asked an Illinois federal judge to grant initial approval of a $75 million deal with BNSF Railway Co., after a Chicago federal jury found the railroad violated Illinois' biometric privacy law in 2022 but the initial $228 million judgment was thrown out.

  • February 27, 2024

    Ex-NESN Exec Gets 3½ Years In Fraud Scheme

    A former executive at the Massachusetts cable network that broadcasts Red Sox and Bruins games was sentenced Tuesday to 3½ years in prison for embezzling nearly $600,000 from his employer through an elaborate invoicing scheme, crimes a judge called both "deliberate" and "insidious" and the government called "brazen."

  • February 27, 2024

    Under Armour Can't Slip Consumer-Demand Securities Suit

    A Maryland federal judge denied Under Armour Inc.'s bid to shut down a massive class action alleging that the company misled investors about consumer demand Monday, finding that serious questions remain about the company's public statements.

  • February 27, 2024

    Investors Can't Block $1.6B Oil Co. Merger, Chancery Says

    Warrant holders of deep-water oil producer QuarterNorth Energy who say they're being dragged unwillingly into its $1.6 billion merger with Talos Energy may not prevent the cashing out of their warrants because it could jeopardize the transaction and hurt QuarterNorth shareholders, Delaware's Court of Chancery has ruled.

  • February 27, 2024

    Ascension Unit Will Pay $2.6M To End Time Clock BIPA Suit

    Presence Health Network in Illinois is set to pay $2.6 million to settle biometric privacy claims from a group of employees who claimed the health system violated their privacy rights by requiring them to scan their fingerprints for timekeeping without first obtaining consent, after a Chicago state judge signed off on the settlement.

  • February 27, 2024

    Arnold & Porter Transactions Vet Joins Foley & Lardner

    Foley & Lardner LLP announced it has brought on a former Arnold & Porter Kaye Scholer LLP attorney with over 30 years of experience working on transactional matters as a partner in its Silicon Valley, California, office.

  • February 27, 2024

    Confirmation Of 2 Fla. Judges Eases Judicial Emergencies

    On Tuesday, the Senate confirmed U.S. Magistrate Judge Jacqueline Becerra and David Seymour Leibowitz, corporate counsel for the Braman Management Association, to the Southern District of Florida.

  • February 27, 2024

    Fox Rothschild Taps Sarasota-Area Firm Attys For New Office

    Fox Rothschild LLP has widened its Florida footprint with the opening of an office in Sarasota and the addition of a three-attorney team from Blalock Walters PA.

  • February 27, 2024

    Real Estate Group Of The Year: Greenberg Traurig

    Greenberg Traurig LLP attorneys helped the Metropolitan Transportation Authority complete the development of a major train terminal in New York City and advised a $2 billion transaction in which a Japanese real estate firm bought a 50% stake in a Manhattan office tower, landing the firm a spot among Law360's 2023 Real Estate Groups of the Year.

  • February 27, 2024

    Cybersecurity Firm Says Reseller Stiffed It To Pay Other Bills

    Cybersecurity firm Acronis Inc. is accusing a reseller of using the proceeds from the sale of its products to pay off other financial obligations and ignoring its $1.5 million debt to Acronis, according to a lawsuit filed Monday in Massachusetts state court.

  • February 26, 2024

    Google Judge Rips $700M Antitrust Deal: 'It's Not Great'

    A California federal judge lambasted a $700 million deal that consumers and state attorneys general struck with Google blocking antitrust claims related to Android apps and the Play Store for 127 million consumers for the next seven years, saying Monday he's "never granted prospective relief" and that plaintiffs "folded" with "four aces."

  • February 26, 2024

    Convicted Nikola Founder Must Forfeit Ranch, Judge Says

    A New York federal judge on Monday ruled Nikola Corp. founder Trevor Milton, who received a 4-year prison sentence for fraudulently inflating the truck-maker's value on Wall Street, must forfeit his 4,700-acre Utah property, citing the seriousness of Milton's crime and that he bought the ranch using inflated stock options.

  • February 26, 2024

    Amazon Loses Round In Suit Over Subscription Renewals

    Amazon must face claims in a proposed class action that its automatic renewal for Prime, Kindle and other services violates California and Oregon consumer laws, according to a Washington federal judge who said Monday that it was unclear if the retail giant did enough to make it easy to cancel after a free trial.

  • February 26, 2024

    Feds Want PacifiCorp To Cover $1B Ore., Calif. Wildfire Costs

    PacifiCorp revealed in a U.S. Securities and Exchange Commission filing Monday that the U.S. Department of Justice is potentially looking to collect more than $1 billion from the company to cover costs related to 2020 wildfires in Oregon and California, even threatening to take one matter to court.

  • February 26, 2024

    NIST Widens Cybersecurity Framework To Cover All Industries

    The U.S. Department of Commerce agency that developed a landmark cybersecurity framework for critical infrastructure operators announced Monday that it had finalized a long-anticipated update, aimed at helping all industry sectors and organizations, to a voluntary tool to better manage cyber risks.

  • February 26, 2024

    Live Nation Can't Cancel Suit Over Eras Tour Sales Meltdown

    A California federal judge refused Friday to end a proposed securities class action alleging Live Nation made misleading statements about its operations when news of alleged anticompetitive practices with Ticketmaster caused stock prices to drop, finding the suit describes "a materially different state of affairs" than what Live Nation claimed.

  • February 26, 2024

    Del. Justices Back Toss Of $500M Maxim-Analog Merger Suit

    The Delaware Supreme Court on Monday refused to revive investors' $500 million challenge to Maxim Integrated Products Inc.'s $21 billion merger with Analog Devices Inc., leaving intact a Chancery Court decision throwing out the case in May.

  • February 26, 2024

    Ex-Glass Co. CFO Can't Beat SEC's Accounting Fraud Suit

    A California federal judge said Monday that a former officer of a "smart" glassmaker will have to face the U.S. Securities and Exchange Commission's allegations that he defrauded investors by failing to tell them about certain liabilities the company faced before it merged with a blank-check company.

  • February 26, 2024

    Family Dollar OKs Record $41.7M Deal With DOJ Over Rodents

    The U.S. Department of Justice on Monday announced that Family Dollar Stores LLC will pay $41.7 million after pleading guilty to storing food and drugs in unsanitary conditions at a rodent-infested warehouse, in what federal prosecutors called the largest monetary penalty in a food safety case.

  • February 26, 2024

    Apple Antitrust Class Action Gets Early 2026 Trial Date

    A California federal judge on Monday set trial in a high-stakes consumer class action antitrust fight over Apple's App Store policies for February 2026, but refused to weigh in on Apple's request to pause certain discovery while the tech giant appeals the judge's recent class certification decision.

  • February 26, 2024

    FAA Review Panel Flags 'Disconnect' In Boeing Safety Culture

    Boeing's overall safety culture is still "inadequate" and "disconnected" despite strengthening internal safety protocols in the five years since two fatal 737 Max 8 jet crashes, according to a new report from a Federal Aviation Administration review panel.

  • February 26, 2024

    Fed. Circ. Affirms Freshub Didn't Lie To Revive Patent App

    The Federal Circuit on Monday upheld a Texas federal court's ruling that Amazon's Alexa voice assistant didn't infringe voice-processing system patents owned by Freshub and that Freshub didn't use nefarious means to obtain those patents.

  • February 26, 2024

    Ex-Bank CFO Cops To $700K Theft And Life Insurance Scam

    An ex-Eastern International Bank chief financial officer has pled guilty to defrauding the bank out of more than $700,000 to pay his personal expenses, and he admitted to opening life insurance policies in the names of bank employees to benefit his wife, according to the U.S. Department of Justice.

  • February 26, 2024

    SoCal Edison Will Pay 'Record' $80M To End Thomas Fire Suit

    Southern California Edison Co. has agreed to shell out $80 million to resolve a lawsuit in California federal court alleging the utility company caused the 2017 Thomas Fire that scorched large sections of the Los Padres National Forest, the U.S. Department of Justice announced on Monday.

Expert Analysis

  • 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.

  • 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.

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