Corporate

  • February 15, 2024

    Trump Social Media Blank-Check Merger Gets SEC Approval

    The blank-check company looking to take former President Donald Trump's social media platform public has obtained approval from the U.S. Securities and Exchange Commission to move forward with the long-delayed merger, according to a recent regulatory filing.

  • February 15, 2024

    Uber Driver Asks Justices To Stay Out Of PAGA Case

    A California court didn't ignore and actually followed U.S. Supreme Court precedent when it ruled that representatives' claims brought under California's Private Attorneys General Act can remain in court if individuals go into arbitration, an Uber driver has told the justices.

  • February 15, 2024

    Vice Chancellor Sam Glasscock Retiring From Del. Chancery

    Delaware's Court of Chancery will lose its current longest-serving, and perhaps most folksy, jurist this year with the planned retirement of Vice Chancellor Sam Glasscock III from the court after nearly 25 years, Delaware's chief justice revealed today.

  • February 14, 2024

    Pfizer Reaches $93M Deal With Lipitor Buyers In Antitrust MDL

    Pfizer Inc. has agreed to shell out $93 million to put to rest Lipitor buyers' claims in sprawling antitrust multidistrict litigation over the cholesterol medication that stretches back more than a decade, according to a motion filed Wednesday in New Jersey federal court.

  • February 14, 2024

    Apple Unit Must Face Revived Bias And Retaliation Claims

    An Apple software subsidiary must face a former employee's gender discrimination and retaliation claims, a California appellate panel ruled on Tuesday, saying there is substantial evidence of discrimination toward the employee that raises a triable issue related to why she left the company.

  • February 14, 2024

    Campbell Soup Says It Gave FTC Info For $2.7B Sauce Deal

    Campbell Soup Co. has given the Federal Trade Commission all the information the agency has asked for concerning its planned acquisition of Sovos Brands, the owner of the popular sauce brand Rao, before the agency decides whether to give the $2.7 billion union its blessing.

  • February 14, 2024

    Prudential Inks $35M Deal Over Investor's Stock-Drop Suit

    A Prudential Financial Inc. investor asked a New Jersey federal judge on Wednesday to sign off on a $35 million deal to settle allegations the insurer hid mortality trends and understated its life insurance reserves, causing its stock to trade at inflated prices.

  • February 14, 2024

    Legal Org. Backs Lyft In Supreme Court PAGA Fight

    Representative and individual claims brought under California's Private Attorneys General Act are inseparable when it comes to arbitration, a legal organization told the U.S. Supreme Court on Wednesday, backing Lyft's challenge to a California state appellate court's decision preserving a former driver's representative claims.

  • February 14, 2024

    FinCEN Head Vows No 'Gotcha' Enforcement Of New Rules

    The director of the U.S. Treasury Department's Financial Crimes Enforcement Network said during a Wednesday congressional hearing that the agency is not pursuing "gotcha" enforcement when it comes to companies complying with new rules for reporting their beneficial ownership information.

  • February 14, 2024

    Google 'Lockbox' Program Hid App Tracking, 9th Circ. Told

    Counsel for a group of Android phone users urged the Ninth Circuit on Wednesday to revive a proposed class action alleging that Google's "Lockbox" program secretly collected information about Android owners' non-Google app use, saying the tech giant's privacy policy on the data collection was ambiguous at best.

  • February 14, 2024

    NYC Sues Facebook, Social Media Cos. Over Teen Addiction

    New York City on Wednesday became the latest government entity to accuse social media giants such as Facebook, TikTok and YouTube of purposefully hooking youth on their platforms and driving a mental health care crisis by designing their apps to mimic gambling and tobacco industry tactics in a California state court suit.

  • February 14, 2024

    March Trial Set For Samsung Claims Against Ex-IP Attys

    A Texas federal judge has backed a magistrate judge's recommendation to resolve Samsung's claims of misconduct against two of its former in-house intellectual property attorneys through a bench trial.

  • February 14, 2024

    Del. Justices Mull Reviving $500M Maxim Merger Suit

    Former shareholders of circuit maker Maxim Integrated Products Inc. told Delaware's top court Wednesday the investors weren't fully informed when they approved a $21 billion merger with Analog Devices Inc. that also cut off a $500 million, four-quarter string of dividends.

  • February 14, 2024

    Westell, Shareholders Reach $2.2M Deal In Stock-Split Suit

    Westell Technologies Inc. shareholders challenging a type of stock split engineered by the company told Delaware's Court of Chancery that they have agreed to settle their claims for $2.2 million and plan to request attorney fees of no more than $550,000.

  • February 14, 2024

    Breach Of Contract Claims Trimmed In $30M GameStop Suit

    A Delaware federal court dropped some allegations related to the breach of contract claims against GameStop in a $30 million fee dispute, saying the plaintiff, Boston Consulting Group, has not pled a viable claim in some instances despite having three chances to do so.

  • February 14, 2024

    OECD Chief Claims No Knowledge Of Aussie PwC Breaches

    The OECD's top official had no knowledge of PwC Australia's breaches of confidentiality when he took equity in its former CEO's consulting firm that he relinquished when the existence of the equity became public knowledge, his spokesperson told Law360.

  • February 14, 2024

    SEC Says Bankruptcy Doesn't Stop Crowdfunding Fraud Case

    Securities regulators are urging a Michigan federal judge to allow them to press on with their claims against the alleged mastermind behind a $2 million crowdfunding scheme — who has since quietly changed his name and allegedly bilked his attorney — arguing that his recent bankruptcy filing shouldn't pause proceedings.

  • February 14, 2024

    NY Suggests LaPierre Owes Millions As NRA Trial Ends

    New York state attorneys on Wednesday scrutinized former National Rifle Association CEO Wayne LaPierre's testimony that he rectified all his improper spending by repaying $1 million to the gun group, pointing out that LaPierre racked up nearly $13 million in charges for private jet travel alone.

  • February 14, 2024

    Bed Bath & Beyond Execs Given Access To $10M In Insurance

    An insurer for bankrupt housewares retailer Bed Bath & Beyond will cover up to $10 million in legal costs incurred by company executives who were subpoenaed or named as defendants in litigation connected to the store, a New Jersey bankruptcy court said.

  • February 14, 2024

    Chicago Eatery Biz Exec's Bid For Atty Privilege Challenged

    Investors in Chicago restaurant Maple & Ash told an Illinois court that a principal at the eatery's management firm wrongly acted as a lawyer in their corporate theft lawsuit against the firm, saying he inappropriately seeks to assert attorney-client privilege over 6,000 documents in the suit.

  • February 14, 2024

    Drug Co. Paratek's Officers Sued In Del. Over $462M Sale

    Former stockholders of drug developer Paratek Pharmaceuticals Inc. have sued five directors and officers in Delaware's Court of Chancery, accusing those named of slow-walking company sale efforts and snubbing up to 50% higher offers in favor of a $462 million deal that allegedly assured the directors and officers maximum benefits.

  • February 14, 2024

    McDonald's In US Lack Adequate Lactation Spaces, Suit Says

    McDonald's employees from Kansas and New York filed a collective action in Illinois federal court Wednesday alleging the fast-food giant, which has more than 13,000 U.S. locations, and its franchisees failed to provide reasonable lactation accommodations to nursing mothers in restaurants nationwide, forcing them to pump in unsanitary spaces.

  • February 14, 2024

    Chancery Flipped SeaWorld Stock Claims, Ex-Execs Tell Court

    A Chancery Court judge "got it backwards" when he concluded that 19 former executives of SeaWorld Entertainment Inc. weren't entitled to vesting rights in connection with a 2017 stock sale, because he read the executives' separation and equity agreements out of order, an attorney for the executives told Delaware's Supreme Court on Wednesday.

  • February 14, 2024

    Fox News' Sorrento Report Takes Center Stage At 9th Circ.

    Counsel for Sorrento Therapeutics Inc. investors urged the Ninth Circuit on Wednesday to revive a securities suit alleging executives made misleading statements to Fox News about its COVID-19 research, prompting one judge to ask whether "you have to take things you hear on Fox News with a grain of salt."

  • February 14, 2024

    Walmart Says Ex-Manager's OT Claims Too Vague To Proceed

    Walmart urged a Georgia federal court to dismiss a former manager's claims that she was misclassified as overtime-exempt, arguing that the worker failed to specify what overtime tasks she performed or when she performed them.

Expert Analysis

  • Landmark Product Safety Prosecution May Signal Sea Change

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    U.S. v. Chu, a novel prosecution and guilty verdict of corporate executives for failing to report product defects under a consumer safety law, will certainly not be the last case of its kind, and companies will need to prepare for the government’s increasingly aggressive enforcement approach, say attorneys at Cooley.

  • How Corp. Transparency Act Can Unmask Crypto Owners

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    With the federal Corporate Transparency Act in effect as of Jan. 1, litigants may now have a less burdensome path toward determining the identities of owners behind convoluted corporate entities, and, by extension, any digital assets they own that could be subject to a potential judgment, says Brett Sager at Ehrenstein Sager.

  • 6 Focus Areas For Companies Managing The Risks Of AI Use

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    To harness the significant and potentially transformative benefits that generative artificial intelligence can confer, companies must establish appropriate oversight and governance, ensure appropriate disclosures, and resolve other regulatory and legal challenges arising from deployment, say attorneys at Shearman.

  • ESG Concerns Can No Longer Be Ignored In 2024

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    While the long wait for the U.S. Securities and Exchange Commission's ESG rule continues, government attention to regulations, increased litigation efforts and shareholder resolutions seeking transparency highlight the importance of placing an emphasis on ESG considerations, say attorneys at Wollmuth Maher.

  • 2 FCPA Settlements Illuminate Self-Disclosure, Disgorgement

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    Two of last year’s Foreign Corrupt Practices Act settlements — with biomedical company Lifecore and mining company Corsa Coal — suggest that the government will be much more flexible in negotiating disgorgement amounts if an entity voluntarily self-discloses misconduct, say Michael Gilbert and Lucas Amodio at Sheppard Mullin.

  • CFPB As Pay App Watchdog May Invite More Fintech Regs

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    While the Consumer Financial Protection Bureau's recent proposal to enhance federal oversight of the biggest consumer payment applications would impose no new regulatory obligations, the rulemaking could provoke heightened scrutiny for all participants in the digital payments market, say attorneys at Steptoe.

  • Opinion

    Anti-Kickback Statute Does Not Require But-For Causation

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    A proper interpretation of the Anti-Kickback Statute clearly indicates that but-for causation is not required for False Claims Act Liability, and courts that hold otherwise will make it significantly easier for fraudsters to avoid accountability, says Kenneth Capesius at Baron & Budd.

  • Opinion

    Conflicts Abound When Activist Short-Sellers Publish Reports

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    The self-serving relationship between activist short-sellers and plaintiff-side litigators is conflict-ridden and hinders the fact finder's impartiality when a short report forms the basis for lead plaintiffs' allegations, say Nessim Mezrahi and Stephen Sigrist at SAR.

  • Copyright And Generative AI Developments To Watch In 2024

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    This year could bring clarity to critical copyright issues raised by the recent surge of development in generative AI platforms, as Congress continues its legislative focus in this area and litigation tests theories of liability, say Joshua Weigensberg and Felicity Kohn at Pryor Cashman.

  • 5 Litigation Funding Trends To Note In 2024

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    Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.

  • Key Issues When Navigating A Tenant's Bankruptcy

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    In light of recent Chapter 11 filings by Rite Aid and WeWork — companies with thousands of commercial leases — practitioners should review issues that can arise when bankruptcy is used to exit a lease, including the consequences of lease rejection and the statutory cap on landlord damage claims for a rejected lease, say attorneys at Proskauer.

  • Lessons From DOJ's Handling Of Rare Medicare Fraud Case

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    The U.S. Department of Justice's recent indictment against HealthSun sheds light on the relatively rare circumstances in which the agency may pursue criminal charges for fraud involving Medicare Advantage, but its subsequent decision not to prosecute shows that compliance efforts can mitigate penalties, say attorneys at WilmerHale.

  • 5 Securities Litigation Issues To Watch In 2024

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    There is yet another exciting year ahead for securities litigation, starting with the U.S. Supreme Court hearing argument next week in a case presenting a key securities class action question that has eluded review for the last eight years, say attorneys at Willkie.

  • A Look At Consumer Reporting In 2023, And What's To Come

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    The legal landscape of consumer reporting is evolving as courts, federal regulators and state legislatures continue to weigh in — and while last year may have seen a slight downtick in the overall volume of Fair Credit Reporting Act litigation, 2024 is set to be a watershed year for this area of the law, say attorneys at Troutman Pepper.

  • Antitrust And ESG: Maximizing Targets, Ensuring Compliance

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    Jennifer McAlpin at Verizon and Michaela Spero at Amadeus consider the convergence of antitrust and environmental, social and corporate governance factors, providing an executive overview of areas to watch, including mergers and acquisitions, as well as practical implementation tips for general counsel.

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