Corporate

  • May 29, 2024

    Quinn Emanuel Atty Ducks Sanctions Over Musk Deposition

    Quinn Emanuel Urquhart & Sullivan LLP partner Alex Spiro beat an attempt to sanction him for alleged "astonishingly unprofessional" conduct at a deposition while defending billionaire and investor Elon Musk from a defamation suit in Texas state court, but the suit survived a motion to dismiss, according to an order signed Wednesday.

  • May 29, 2024

    Chancery Pins Down Musk, Tesla On Pay Bid, Del. Jurisdiction

    Delaware's chancellor has nailed Elon Musk, Tesla Inc. and their counsel to assurances that the company won't flee state corporate law jurisdiction and a potentially massive stockholder attorney fee dispute by rushing votes on a struck-down, $56 billion compensation plan for Musk and proposed reincorporation in Texas.

  • May 29, 2024

    Acting Boston US Atty Says Fraud Cases Still High Priority

    Prosecuting a range of fraud cases despite finite resources will remain a priority for Massachusetts acting U.S. Attorney Joshua Levy as he enters his second year in the job, he told reporters on Wednesday in a question and answer session at his office.

  • May 29, 2024

    Baker McKenzie Grows Tax Practice With Ex-KPMG Adviser

    Baker McKenzie announced the hiring of an experienced Chicago-based tax adviser as a principal who most recently spent sixteen and a half years at Big Four accounting firm KPMG.

  • May 29, 2024

    Archegos Jury Gets Glimpse At Founder's Earlier Legal Woes

    A banker told a Manhattan jury Wednesday that Archegos founder Bill Hwang's 2012 run-in with the law at his previous hedge fund was concerning, but details were largely kept from jurors hearing charges against Hwang over Archegos's $36 billion collapse.

  • May 29, 2024

    Coverage Recap: Day 1 Of Deliberations In Trump's NY Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from the first day of deliberations Wednesday.

  • May 28, 2024

    Amazon Can't Duck FTC's Prime Subscription Suit

    Amazon cannot escape the Federal Trade Commission's lawsuit alleging the e-commerce giant tricks consumers into enrolling in its Prime service and makes it difficult for members to cancel subscriptions, a Seattle federal judge ruled Tuesday, saying the commission has adequately alleged Amazon's Prime terms were not "clearly and conspicuously disclosed."

  • May 28, 2024

    Ex-USPTO Directors Want Vidal To Withdraw Disclaimer Plans

    Former U.S. Patent and Trademark Office Directors Andrei Iancu and David Kappos on Tuesday urged current Director Kathi Vidal to "immediately" withdraw proposed rules regarding so-called terminal disclaimers, saying the changes are "contrary to law" and "threaten serious harm to America's innovation economy."

  • May 28, 2024

    Autonomy Founder Says HP 'Panicked,' Tried To Unwind Deal

    Autonomy founder Michael Lynch testified Tuesday in a California federal criminal trial over claims he conned HP into overpaying for his company that HP's board "panicked" after news of the acquisition leaked and HP's stock dropped 20%, that HP fired its CEO and that it attempted to back out of the deal.

  • May 28, 2024

    Judge Hints Amazon Can't Avoid BIPA Suit For Stored Data

    A Washington federal judge pushed back Tuesday against Amazon's claims it cannot be sued for data that merely passed through its servers, noting that Illinois' biometric privacy law doesn't just create liabilities for the original data collector.

  • May 28, 2024

    AI Co. Can't Escape Meta's Suit Over User Data Scraping

    A California federal judge has refused to toss Meta Platforms Inc.'s suit accusing an artificial intelligence company of unlawfully scraping Facebook users' data and selling it to its clients, finding that Meta had identified a valid contract and that the court had jurisdiction over all the social media giant's claims.

  • May 28, 2024

    Boeing Jury Urged To Reject Electric Startup's $200M IP Ask

    Counsel for Boeing Co. told a jury to reject Zunum Aero Inc.'s claim it deserves nearly $200 million for alleged trade secrets misappropriation, saying during closing arguments Tuesday that Zunum wants to shift blame away from its own failures.

  • May 28, 2024

    Chancery Finds Ex-CEO Owed $79M For Share Lockup Losses

    The former CEO of a 3D building imaging company is owed more than $79 million in damages in his share value suit against the company, but not the more than $141 million he sought, the Delaware Chancery Court ruled Tuesday.

  • May 28, 2024

    Consumers, Advertisers Seek Class Cert. Against Meta

    Advertisers and consumers suing Facebook owner Meta Platforms Inc. over allegations of monopolizing the online social media advertising market and misusing users' data in the process have told the California federal court overseeing their claims that they believe it's time for the proposed classes to be certified.

  • May 28, 2024

    Google, Meta Can Arbitrate H&R Block User's Tax Data Suit

    A California federal judge on Friday ruled that a man who was previously instructed to arbitrate his proposed class action alleging that H&R Block shared private data must also arbitrate claims against Google and Meta Platforms Inc., saying the allegations against the two technology companies are closely connected to those against H&R Block.

  • May 28, 2024

    The NCAA Put Out One Fire, But The House Is Still Ablaze

    Despite the enormous size of the settlement of a class action by hundreds of thousands of former college athletes over name, image and likeness compensation denied to them, experts say it only resolves one of the NCAA's many legal crises, while shining a light on the severity of the others.

  • May 28, 2024

    Data Co. Exec Misled GC About Scammer Sales, Feds Tell Jury

    A former Epsilon Data Management executive was well aware that a division of the direct marketing and data company was selling information about millions of consumers to fraudsters and worked to keep the firm's general counsel in the dark about the details, federal prosecutors told a Denver jury Tuesday.

  • May 28, 2024

    Trump Atty Calls Cohen 'MVP Of Liars' As NY Trial Closes

    Donald Trump's counsel repeatedly assailed the credibility of star witness Michael Cohen Tuesday in a final pitch to the New York jury that will decide whether to convict the former president of falsifying business records, calling Cohen "an MVP of liars" and "the human embodiment of reasonable doubt."

  • May 28, 2024

    Twitter Investors Seek Cert Over Musk's Backtrack On Buyout

    A group of Twitter investors have asked a California federal judge to certify a class over claims Elon Musk fraudulently tweeted about the social media company's alleged bot problem to get out of his $44 billion acquisition, arguing that the case is "perfectly suited for class certification."

  • May 28, 2024

    Frontier, Ex-CEO Settle $21.8M Life Insurance Benefits Feud

    Frontier Communications and Leonard Tow, its former CEO and the top executive of a predecessor, have privately settled a feud surrounding tens of millions in split-dollar life insurance policies, with both sides asking a Connecticut state court judge to withdraw a $21.8 million prejudgment remedy order issued last month.

  • May 28, 2024

    White House Looks To Boost Carbon Credit Market Integrity

    The Biden administration on Tuesday released new guidelines for voluntary carbon markets, touting the measures as a foundation for "ambitious and credible climate action" that also attempts to address questions about the integrity of credits that companies use to show a greener footprint.

  • May 28, 2024

    Chiquita Ops Chief Says Militant Leader Extorted Company

    Chiquita's former head of Colombia operations took the stand Tuesday for the second time in a trial over the banana company's funding of right-wing paramilitaries, recounting to jurors how he was summoned to the house of a notorious paramilitary boss to convey what he said were threats on the company's business.

  • May 28, 2024

    Microsoft, OpenAI Beat Overstuffed Privacy Suit, For Now

    A California federal judge threw out, for now, consumers' suit alleging their privacy was violated by Microsoft Corp. and OpenAI LP's products, slamming the complaint as "excessive" and packed with "unnecessary and distracting allegations" to the point it's "nearly impossible" to determine the adequacy of the claims.

  • May 28, 2024

    Chevron Confident As Hess Shareholders Approve $53B Deal

    Hess Corp. said Tuesday it has received the necessary stockholder approvals to close its $53 billion sale to Chevron Corp., as Chevron separately expressed confidence that it will prevail in an ongoing dispute with Exxon Mobil Corp. and wrap up the regulatory process soon.

  • May 28, 2024

    27 States Urge Fed. Circ. To Back Idaho 'Patent Troll' Law

    Attorneys general from 27 states, along with tech industry lobbying groups, have thrown their support behind Micron Technology Inc.'s argument in its fight at the Federal Circuit that Idaho's law barring "bad faith" allegations of patent infringement is constitutional.

Expert Analysis

  • 2nd Circ. Ruling Affirms NY Law's Creditor-Friendly Approach

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    The Second Circuit’s recent ruling in 245 Park Member v. HNA International provides creditors with some reason for optimism that debtors in New York may face rejection in court for aiming to keep creditors at arm’s length by transferring personal assets into an LLC, says Jeff Newton at Omni Bridgeway.

  • 2 Oil Trader FCPA Pleas Highlight Fine-Reduction Factors

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    Recent Foreign Corrupt Practices Act settlements with Gunvor and Trafigura — the latest actions in a yearslong sweep of the commodities trading industry — reveal useful data points related to U.S. Department of Justice policies on cooperation credit and past misconduct, say Michael DeBernardis and Laura Perkins at Hughes Hubbard.

  • Opinion

    NEPA Final Rule Unlikely To Speed Clean Energy Projects

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    A recent final rule from the White House Council on Environmental Quality purports to streamline federal environmental reviews to accelerate the construction of renewable energy infrastructure — but it also expands consideration of climate change and environmental justice, creating vast new opportunities for litigation and delay, says Thomas Prevas at Saul Ewing.

  • Opinion

    USPTO's Proposed Disclaimer Rule Would Harm Inventors

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    The U.S. Patent and Trademark Office’s recently proposed rule on terminal disclaimers will make the patent system less available to inventors and will unfairly favor defendants in litigation, say Stephen Schreiner at Carmichael IP and Sarah Tsou at Omni Bridgeway.

  • Influencer Considerations As FINRA Initiates Crackdown

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    To avert risks when evaluating influencer and referral programs, firms should assess the Financial Industry Regulatory Authority's recent settlements involving the supervision of social media tastemakers, as well as recent FINRA guidance in this area, say attorneys at Troutman Pepper.

  • New Crypto Reporting Will Require Rigorous Recordkeeping

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    The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service's efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen and Max Angel at Holland & Knight.

  • What Transactional Attys Must Know About Texas Biz Courts

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    As Texas prepares to launch its new business courts, transactional attorneys — especially those involved in commercial, securities and internal governance matters — should keep several issues in mind when considering use of the state's business court system to facilitate deals and settle disputes, say attorneys at Katten.

  • A Comparison Of FDIC, OCC Proposed Merger Approaches

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    Max Bonici and Connor Webb at Venable take a closer look at the Federal Deposit Insurance Corp.'s and Office of the Comptroller of the Currency's respective bank merger proposals and highlight certain common themes and important differences, in light of regulators continually rethinking their approaches to bank mergers.

  • Series

    Being An EMT Makes Me A Better Lawyer

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    While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.

  • Behind Court Challenges To The FTC's Final Noncompete Rule

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    The Federal Trade Commission's recent final rule banning noncompetes may not go into effect any time soon amid a couple of Texas federal court challenges seeking to bar the rule's implementation, which will likely see appeals all the way to the U.S. Supreme Court, says Michael Elkins at MLE Law.

  • Corporate Insurance Considerations For Trafficking Claims

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    With the surge in litigation over liability under the Trafficking Victims Protection Reauthorization Act, corporate risk managers and in-house counsel need to ensure that appropriate insurance coverage is in place to provide for defense and indemnity against this liability, says Micah Skidmore at Haynes Boone.

  • Tips For Keeping Trade Secrets In The Vault

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    Key practices aimed at maintaining confidentiality can help companies establish trade secret status as the Federal Trade Commission's ban on noncompetes makes it prudent to explore other security measures, says John Baranello at Moses & Singer.

  • 5 Lessons From Ex-Vitol Trader's FCPA Conviction

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    The recent Foreign Corrupt Practices Act and money laundering conviction of former Vitol oil trader Javier Aguilar in a New York federal court provides defense takeaways on issues ranging from the definition of “domestic concern” to jury instruction strategy, says attorney Andrew Feldman.

  • SEC Amendments May Launch New Execution Disclosure Era

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    The U.S. Securities and Exchange Commission's recently adopted amendments to Rule 605 of Regulation NMS for executions on covered orders in national market system stocks modernize and enhance execution quality reporting, but serious guidance is still needed to make the reports useful for the public investor, say attorneys at Sidley.

  • Questions Remain After Mass. Adverse Possession Case

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    A recent Massachusetts Land Court decision, concerning an adverse possession claim on a family company-owned property, leaves open questions about potential applicability to closely held corporations and other ownership types going forward, says Brad Hickey at DarrowEverett.

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