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January 15, 2025
Sidley-Led Flowco Raises $427M In Year's First Major IPO
Oilfield equipment and services provider Flowco Holdings Inc. on Wednesday priced a $427 million initial public offering above its range, represented by Sidley Austin LLP and underwriters' counsel Latham & Watkins LLP, marking the year's first sizable IPO.
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January 15, 2025
Block Pays Regulators $80M Over Cash App AML Compliance
Jack Dorsey's fintech company Block Inc. has reached an $80 million settlement over alleged anti-money laundering compliance failures by its mobile payments platform Cash App, a coalition of state banking regulators announced Wednesday.
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January 15, 2025
Legislators Say Transparency Act Defies First Amendment
The Corporate Transparency Act is an unnecessary intrusion into the First Amendment rights of Americans, U.S. Sen. Thom Tillis, R-N.C., and 13 House members told the Supreme Court in seeking to maintain an injunction issued in December.
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January 15, 2025
Noncompete Ban Has A Defender In Wings If Trump FTC Won't
Entrepreneurs group Small Business Majority wants the Fifth and Eleventh circuits to let it intervene to defend the Federal Trade Commission's currently blocked noncompetes ban if FTC Republicans stop arguing for the rule as expected once they take power.
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January 15, 2025
Maxell Battery Patent Sinks At Federal Circuit
Japanese consumer electronics outfit Maxell on Wednesday failed to persuade Federal Circuit judges to change anything about a patent board ruling that wiped out all the claims in a battery patent asserted in a suit against a Chinese rival.
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January 15, 2025
Acting USPTO Head Corrects Errors In PTAB Samsung Denial
The U.S. Patent and Trademark Office's acting director has found that the Patent Trial and Appeal Board made incorrect statements when it refused to review a display patent challenged by Samsung due to an upcoming Texas trial, but still left the denial intact.
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January 15, 2025
Justices Struggle With Tech Advances In Texas Porn Law Row
Several U.S. Supreme Court justices on Wednesday focused on how a decadesold brick-and-mortar precedent applies to a Texas law requiring age verification on porn websites while struggling to reconcile technological advancements with First Amendment protections.
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January 15, 2025
Texas Court Unsure State Can Shutter Immigrant Nonprofit
A Texas appellate court seemed doubtful Wednesday that the state attorney general has authority to shut down a nonprofit over its political speech, with the justices suggesting that Texas might be blurring the line between state and federal nonprofit oversight.
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January 15, 2025
SMU Can't Chuck 100-Year Ties To Church, Justices Suggest
Texas Supreme Court justices piled questions on Southern Methodist University over its split with the United Methodist Church, saying during oral arguments Wednesday that the school seemingly used "clever lawyering" over a "hot button political issue" to wrestle control from the church.
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January 15, 2025
Greenberg Traurig Adds 2 Corporate Pros In Texas
Greenberg Traurig LLP is expanding its Texas corporate team, announcing Wednesday it is bringing in a Sheppard Mullin Richter & Hampton LLP dealmaker and a Kirkland & Ellis LLP private equity pro as shareholders in Dallas and Austin, respectively.
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January 15, 2025
Chubb Unit Seeks Exit From Bar's $105M Drunken Driving Suit
A Chubb unit said it no longer owes coverage to a bar appealing a $105 million judgment related to a drunken patron's car crash, telling a Texas federal court the bar violated the terms of the policy by refusing to cooperate with the insurer's defense.
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January 15, 2025
SpaceX Suit Must Fail, Calif. Coastal Commission Tells Judge
The California Coastal Commission urged a federal judge to throw out a SpaceX lawsuit alleging it has unlawfully tried to stymie the company's rocket launches and engaged in "naked political discrimination" against CEO Elon Musk, arguing the company's claims don't pass muster.
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January 15, 2025
AI Travel App Co. Mondee Files Ch. 11 With Sale Plans
Artificial intelligence-supported travel agency application maker Mondee Holdings Inc. filed for Chapter 11 protection in Delaware, saying it has a baseline offer for the acquisition of its assets and $49 million in financing from existing lenders.
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January 14, 2025
Prospect Medical Beats Objection To $29M In Ch. 11 Funds
A Texas bankruptcy judge said Tuesday she would allow struggling hospital operator Prospect Medical Holdings Inc. to borrow part of a $100 million financing package that prompted an objection from the company's landlord, saying the money was needed to ensure patients continue to receive care.
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January 14, 2025
Dispute Over Eli Lilly Weight Loss Drug Reignited
Compounding pharmacies have reignited a suit against the U.S. Food and Drug Administration over the removal of a lucrative weight loss drug from the shortage list, with a Texas federal judge ordering both sides to turn in briefing on injunctive relief during a Tuesday hearing.
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January 14, 2025
Texas Porn Law Unlikely To Alter Justices' Free Speech Views
Texas' push before the U.S. Supreme Court for a relaxed standard of judicial review in First Amendment cases is unlikely to come to fruition, as decades of precedent work against the state's law requiring age verification on pornography sites.
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January 14, 2025
Wynne Transportation Can Tap Some Of $6M DIP In Ch. 11
A Delaware bankruptcy judge said Tuesday she will allow transportation service provider Wynne Transportation to borrow $2 million in initial debtor-in-possession financing on an interim basis, clearing the way to fund a Chapter 11 case the company launched in the wake of a nearly $33 million arbitration judgment.
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January 14, 2025
Startup Drops Patent Case Against Google Ahead Of Trial
An Oregon startup has agreed to drop its patent infringement case against Google, a month before the dispute was set to go before a jury in Waco, Texas.
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January 14, 2025
Simpson Thacher, Sullivan Rep CBRE's $400M Coworking Buy
CBRE Group Inc. announced on Tuesday it will purchase coworking company Industrious National Management Company LLC for $400 million in a deal guided by Simpson Thacher & Bartlett LLP and Sullivan & Cromwell LLP.
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January 14, 2025
NFL Plan On Hook For Atty Fees Despite 5th Circ. Win
The NFL retirement plan must cover up to $1.86 million in attorney fees and expenses for a former running back who said the plan mishandled his disability benefits application, a Texas federal judge ruled, saying the Fifth Circuit's reversal of his bench trial win didn't discredit his exposure of the plan's systemic issues.
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January 14, 2025
Macquarie, Data Center Biz Enter $5B Financing Partnership
Digital infrastructure and data center company Applied Digital Corp., advised by Lowenstein Sandler LLP, on Tuesday announced it has entered into a $5 billion financing facility with funds managed by Simpson Thacher & Bartlett LLP-led Macquarie Asset Management for its high-performance computing business.
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January 14, 2025
El Paso Firm Failed To Pay Overtime Wages, Paralegal Says
An El Paso, Texas, law firm required a paralegal to respond to emails and text messages outside her working hours but refused to pay her overtime wages, she told a federal court Tuesday.
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January 13, 2025
Texas AG Sues Allstate In Latest Location Data Privacy Strike
Texas' attorney general is accusing Allstate and a subsidiary of violating the state's new comprehensive data privacy law by unlawfully collecting drivers' location data through tracking software embedded in their mobile apps and then using that information to set car insurance rates.
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January 13, 2025
Fed. Circ. Told Google Making Up 'New Rules Of Evidence'
A smart-home energy startup says Google and its supporters are trying to use a Federal Circuit appeal in a $20 million patent case to "craft entirely new rules of evidence out of whole cloth."
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January 13, 2025
Microsoft, Patent Firm Ramey Lose Dueling Sanctions Bids
A Texas federal judge denied dueling sanctions motions Monday in a post-litigation spat between Microsoft and prolific patent firm Ramey LLP, holding that neither party met the standard to win disciplinary fees from the other.
Expert Analysis
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Exploring Venue Strategy For Trump-Era Regulatory Litigation
Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.
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5th Circ.'s Nasdaq Ruling Another Piece In DEI Policy Puzzle
The Fifth Circuit's recent en banc opinion vacating Nasdaq's board diversity listing rule wades into the hotly debated topic of diversity, equity and inclusion initiatives at a time when many public companies are navigating the attention that DEI commitments are drawing from activists and shareholders, say attorneys at Debevoise.
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A Guide To Significant 2024 Data Broker Legal Developments
2024 saw notable developments in U.S. data broker regulation and enforcement, and this momentum will likely carry into 2025, despite hypothetical efforts to the contrary under the new administration, say attorneys at Frankfurt Kurnit.
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Series
Playing Esports Makes Me A Better Lawyer
Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.
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How Changes In State Gift Card Laws May Affect Cos. In 2025
2024 state legislative movements around the escheatment of unused gift card balances and consumer fraud protections should prompt issuers to consider whether changes in company domicile or blanket cash-back policies are needed in the new year, say attorneys at Alston & Bird.
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An Associate's Guide To Career Development In 2025
As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.
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What To Watch For In The 2025 Benefits Landscape
While planning for 2025, retirement plan sponsors and service providers should set their focus on phased implementation deadlines under both Secure 1.0 and 2.0, an upcoming U.S. Supreme Court ruling, and the fate of several U.S. Department of Labor regulations, says Allie Itami at Lathrop GPM.
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The Justices' Securities Rulings, Dismissals That Defined '24
The U.S. Supreme Court's 2024 securities rulings led to increased success for defendants' price impact arguments, but the justices' decisions not to weigh in on important issues relating to the Private Securities Litigation Reform Act's pleading requirements may be just as significant, say attorneys at Skadden.
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Series
Fixing Up Cars Makes Me A Better Lawyer
From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.
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2024 Has Been A Momentous Year For ESG
Significant developments in the environmental, social and governance landscape this year include new legislation, evolving global frameworks, continued litigation and enforcement actions, and a U.S. Supreme Court decision that has already affected how lower courts have viewed some ESG challenges, say attorneys at Katten.
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2024's Most Notable FTC Actions Against Dark Patterns And AI
In 2024 the Federal Trade Commission ramped up enforcement actions related to dark patterns, loudly signaling its concern that advertisers will use AI to manipulate consumer habits and its intention to curb businesses' use and marketing of AI to prevent alleged consumer deception, say attorneys at Goodwin.
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Making The Pitch To Grow Your Company's Legal Team
In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.
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Why Letters Of Protection Are Discoverable In Texas PI Suits
Recent Texas Supreme Court opinions and key provisions of the Texas Rules of Civil Procedure make letters of protection, in which plaintiff attorneys promise payment to healthcare providers based on jury awards, discoverable — good news for defendants fighting exorbitant damage claims in personal injury cases, says Nathan Vrazel at Munsch Hardt.
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Musk Pay Fight Shows Investor Approval Isn't Universal Cure
The Delaware Court of Chancery's recent denial of a motion revising its prior rescission of Elon Musk's nearly $56 billion compensation package is a reminder of the heightened standard corporate boards must meet in conflicted controller transactions and that stockholder approval doesn't automatically cure fiduciary wrongdoing, say attorneys at A&O Shearman.
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4 Trade Secret Pointers From 2024's Key IP Law Developments
Four significant 2024 developments in trade secret law yield practical tips about defending trade secrets overseas, proving unjust enrichment claims, forcing compliance with posttrial orders and using restrictive covenants to prevent employee leaks of confidential intellectual property, say attorneys at Faegre Drinker.