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Corporate
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January 31, 2025
Court Won't Block Tempur Sealy's $4B Mattress Firm Deal
A Texas federal court on Friday denied the Federal Trade Commission's bid to put a hold on Tempur Sealy International Inc.'s planned $4 billion purchase of Mattress Firm Group Inc. over concerns about rival mattress suppliers' access to the retail chain.
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January 31, 2025
After High Court, SuperValu's $123M FCA Case Heads To Trial
SuperValu is bound for trial in February over whistleblower claims that it billed the government higher-than-customary prices for millions of prescriptions, marking an important test of a recent U.S. Supreme Court ruling that revived the case and redefined the standard of proof under the False Claims Act.
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January 31, 2025
Dem AGs Say Trump's DEI Attacks Undercut Anti-Bias Efforts
A dozen state attorneys general decried President Donald Trump's attempts to roll back diversity, equity, inclusion and accessibility programs across the federal government, saying Friday his stance threatens decades of bipartisan work to combat discrimination and provide equal job opportunities.
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January 31, 2025
Apple Wants Google Search Case Paused For Appeal
Apple filed an emergency motion asking a Washington, D.C., federal court to pause the landmark monopolization case targeting Google's search dominance while it appeals a decision refusing to allow the company to participate in the upcoming remedies trial.
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January 31, 2025
DOL Board Says Processing Delay Isn't A 'Catastrophic Event'
Delays in prevailing wage determinations aren't the kind of emergency needed to let a Florida company seeking to employ foreign workers qualify for a waiver to file its petition outside the usual timeframe, a U.S. Department of Labor appeals board said.
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January 31, 2025
Target Warehouse Workers Win Class Cert. In NJ Wage Suit
A New Jersey federal judge has granted class certification to Target warehouse workers at three Garden State distribution centers alleging they were required to engage in unpaid work-related activities before and after their shifts, ruling each class member's case hinges on whether their walking time constitutes hours worked.
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January 31, 2025
Investors Say Walgreens Misled Over Prescription Misuse
A putative class of Walgreens shareholders has sued the retail giant in Illinois federal court, claiming it made false statements about its regulatory compliance and that stock prices fell in the wake of the federal government's allegations that Walgreens knowingly filled millions of invalid prescriptions for opioids and other controlled substances.
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January 31, 2025
Chancery Pushes Air Transport SPAC Suit Toward Trial
Stockholders who sued for damages after the take-public merger of an air taxi and medical transport company on Friday beat a dismissal motion filed by the company's principals in Delaware's Court of Chancery, sending the case to discovery and toward trial.
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January 31, 2025
Ex-BigLaw Atty Can't Escape OneCoin Conviction At 2nd Circ.
The Second Circuit on Friday upheld a former Locke Lord LLP partner's conviction and 10-year sentence for helping launder roughly $400 million in proceeds from the multibillion-dollar OneCoin cryptocurrency scheme, rejecting the attorney's contention that a sole cooperating government witness' perjury and other purported errors warranted reversing his punishment.
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January 31, 2025
GC Cheat Sheet: The Hottest Corporate News Of The Week
The battle over corporate diversity issues weaved its way throughout this past week's news and this roundup, including 19 Republican attorneys general threatening Costco over its policies. And a new survey shows general counsel trying to cut costs, but also saying they will increase the work they send to outside lawyers in 2025.
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January 31, 2025
Trump Funding Freeze Blocked As Court Doubts Reversal
A Rhode Island federal judge on Friday issued a temporary restraining order barring the Trump administration from freezing spending on federal grant and aid programs, calling the move illegal and saying the issue was not mooted by a White House memo claiming the directive had been rescinded.
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January 31, 2025
Fired TikTok Exec's Bias Suit Kept In Court By Arbitration Ban
A New York federal judge largely rejected TikTok's bid to toss a former executive's suit claiming she was pushed out of her job because of her age and gender, also ruling that a law barring sexual harassment disputes from arbitration keeps her claims in court.
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January 31, 2025
Trump's DEI Cuts Threaten USPTO Innovation Goals
President Donald Trump's recent actions to purge diversity programs from the federal government and private sector could undermine one of the top objectives of the U.S. Patent and Trademark Office in recent years: expanding access to innovation.
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January 31, 2025
Nippon Targets Sanyo Special Steel After Nixed US Steel Deal
Japan's Nippon Steel Corp. on Friday announced plans to launch a tender offer valued at 70.5 billion yen ($456 million) to acquire full control of Sanyo Special Steel, a move that comes in the wake of former President Joe Biden blocking Nippon's $14.9 billion megadeal with U.S. Steel.
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January 30, 2025
Pharmacy Says Its Ex-GC Destroyed Trade Secrets Evidence
Texas-based Empower Pharmacy on Thursday pressed for sanctions against its former general counsel — who also happens to be a former assistant district attorney in San Antonio — claiming that the lawyer intentionally destroyed a hard drive that contained evidence relevant to Empower's trade secrets suit against a rival pharmacy.
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January 30, 2025
Amazon 'Siphoned' App Users' Location Data, Suit Claims
Amazon is secretly collecting "incredibly sensitive" information about millions of consumers' precise location and movements through software-building tools embedded on third-party mobile apps, according to a proposed class action filed in California federal court Wednesday.
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January 30, 2025
SEC's Trial Win In VistaPrint Insider Trading Case Stands
A Massachusetts federal judge on Thursday rejected a Lexington man's contention that his conviction for trading VistaPrint options off of nonpublic information resulted from an inconsistent jury verdict, but said the U.S. Securities and Exchange Commission's request he pay $1.8 million in civil penalties for the insider trading was too much.
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January 30, 2025
2nd Circ. Voices Unease Over Ex-Iconix CEO's Fraud Retrial
The Second Circuit on Thursday expressed doubt regarding the conviction of Iconix Brand Group founder Neil Cole, who was found guilty of fraudulently booking $11 million of revenue to hit earnings targets, and appeared open to the argument that his retrial violated the double jeopardy clause of the Fifth Amendment.
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January 30, 2025
2nd Circ. Sees No Skadden Conflict In Pharma Merger Work
The Second Circuit on Thursday declined to revive an investor suit alleging a merger between Sumitomo Pharma America Inc. and Myovant Sciences Ltd. was undervalued because the lawyers from Skadden Arps Slate Meagher & Flom LLP who helped negotiate the deal had undisclosed conflicts of interest.
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January 30, 2025
PayPal Beats Investor Suit Over Inflated User Metrics Claims
A New Jersey federal court has dismissed a proposed class action that accused PayPal of misleading investors with user metrics inflated by a scam that took advantage of a PayPal promotion that paid people to set up new accounts, saying the investors did not show PayPal knew of the alleged scam when certain statements were made.
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January 30, 2025
Retired Atty Says Schwab, Others Flubbed His Contributions
A retired attorney said companies that managed his individual retirement plan, including Charles Schwab and Barnes & Thornburg LLP, hampered his tax savings by incorrectly classifying his pretax retirement contributions as posttax contributions, according to a lawsuit filed in an Indiana district court.
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January 30, 2025
Google Judge Leery Of Administration Of $90M Antitrust Deal
A California federal judge overseeing Google's $90 million antitrust deal with Play Store developers expressed "doubt" Thursday about the decision of counsel representing smaller developer plaintiffs to stay with an administration company handling the settlement distribution, two months after criticizing the administrator's work as "the worst performance I've seen."
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January 30, 2025
Biz Groups Back 2nd Circ. Appeal In Morgan Stanley Pay Fight
Business trade groups including the U.S. Chamber of Commerce wrote in support of Morgan Stanley's Second Circuit appeal in a proposed class action from ex-advisers seeking additional deferred compensation, backing the investment bank's argument that an arbitrator should get to determine if federal benefits law applies to the arrangements.
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January 30, 2025
Amazon Can't Lob 'Hail Mary' In Price-Gouging Suit, AG Says
Washington's attorney general said Wednesday that Amazon can't dodge a proposed class action alleging price-gouging during the COVID-19 pandemic, telling a federal judge that a pivotal state high court ruling in the case was clear on how Washington law allows the consumers to sue.
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January 30, 2025
Ancestry.com Beats Proposed Privacy Class Action, Again
An Illinois federal judge granted summary judgment Wednesday to Ancestry.com in a proposed class action accusing the online company of stealing yearbook photos and identities to advertise its services without consent, finding no evidence that the information was publicly used or displayed.
Expert Analysis
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How Trump's Tariff Promises May Play Out In 2nd Term
While it is unclear which of President-elect Donald Trump's promised tariffs he intends to actually implement in January, lessons from his first administration, laws governing executive action and U.S. trade agreements together paint a picture of what may be possible, say attorneys at Butzel.
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5 Notable Anti-Money Laundering Actions From 2024
Regulators' renewed interest in anti-money laundering programs in 2024 led to numerous enforcement actions and individual prosecutions in industries like banking, cryptocurrency and gaming, including the blockbuster TD Bank settlement and investigations of casinos in Nevada, says Michael Beckwith at Dickinson Wright.
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Series
Group Running Makes Me A Better Lawyer
The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.
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How White Collar Defense Attys Can Use Summary Witnesses
Few criminal defense attorneys have successfully utilized summary witnesses in the past, but several recent success stories show that it can be a worthwhile trial tactic to help juries understand the complex decision-making at issue, says Jonathan Porter at Husch Blackwell.
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Opinion
6 Changes I Would Make If I Ran A Law School
Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.
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The Current State Of Play Around Corporate Transparency Act
Although a Texas court preliminarily enjoined enforcement of the Corporate Transparency Act and paused an impending Dec. 31 reporting deadline, multiple states have similar requirements, so companies should continue to monitor compliance obligations regardless of the CTA's constitutionality, say attorneys at Simpson Thacher.
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Predictions For Trump Antitrust Enforcement Of Life Sciences
Key life sciences antitrust issues of the past two administrations may indicate the direction of enforcement during President-elect Donald Trump's second term, including in areas such as drug prices, killer acquisitions and merger remedies, say attorneys at Ropes & Gray.
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From Football To Pickleball, Sports Investing Evolved In 2024
The NFL's decision to allow private-equity investments in football franchises capped off a transformative year in U.S. sports that also included landmark PE transactions in emerging sports ranging from women's soccer to pickleball, say attorneys at Weil.
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Using Data To Inform Corporate Disclosure Decisions
With today’s market volatility and regulatory factors requiring public companies to confront competing transparency and protection demands, incorporating stock price reaction analysis of company-specific news into the controller's role could be beneficial for disclosure determinations, say Liz Dunshee at Fredrikson & Byron and Nessim Mezrahi at SAR.
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Best Practices For AI Disclosures In Insurance Applications
As businesses integrate AI into their operations, insurers are starting to develop targeted questions to assess the associated risks, but ambiguities in the application forms can create challenges for businesses applying for insurance, say attorneys at Hunton.
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How White Collar Attys Can Use Mythic Archetypes At Trial
A careful reading of a classic screenwriting guide shows that fairy tales and white collar trials actually have a lot in common, and defense attorneys would do well to tell a hero’s journey at trial, relying on universal character archetypes to connect with the jury, says Jack Sharman at Lightfoot Franklin.
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How CFPB Rule Would Affect Data Brokers And Beyond
The Consumer Financial Protection Bureau recently proposed a rule that would not only expand data broker oversight by classifying many as consumer reporting agencies, but would also impose new limitations on companies seeking to obtain information from them, potentially requiring such entities to alter their business models, say attorneys at Orrick.
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Firms Still Have The Edge In Lateral Hiring, But Buyer Beware
Partner mobility data suggests that the third quarter of this year continued to be a buyer’s market, with the average candidate demanding less compensation for a larger book of business — but moving into the fourth quarter, firms should slow down their hiring process to minimize risks, say officers at Decipher Investigative Intelligence.
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Reviewing 2024's State Consumer Privacy Law Enforcement
While we are still in the infancy of state consumer privacy laws, a review of enforcement activity this year suggests substantial overlaps in regulatory priorities across the most active states and gives insight into the likely paths of future enforcement, says Thomas Nolan at Quinn Emanuel.
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Opinion
Antitrust Posturing Against Algorithmic AI Should End
President-elect Donald Trump needs to rein in the federal government's antitrust crusade against algorithmic AI, sending the message that antitrust enforcement must be grounded in evidence and real harm, says attorney David Balto, a former Federal Trade Commission assistant director of policy and evaluation.