Corporate

  • March 04, 2024

    Musk Fired Twitter Execs To Avoid $200M Bill, Suit Says

    Elon Musk fired four top Twitter executives just minutes after he closed on his deal to buy the company, now called X Corp., to avoid paying them $200 million in severance benefits, they told a California federal court Monday.

  • March 04, 2024

    Carvana, Execs Beat 'Puzzle Pleading' Investor Suit, For Now

    An Arizona federal judge dismissed for now a consolidated investor class action alleging Carvana's promised "limitless growth machine" business model was a lemon that artificially inflated its share prices long enough for its executives to sell $3.9 billion of their own stock, saying the investors need to rework their "puzzle pleading."

  • March 04, 2024

    DOJ Worried Binance Founder's Travel May 'Become An Issue'

    Binance founder Changpeng Zhao should have to notify the government of any travel as he awaits sentencing, prosecutors have said, telling a federal court in Washington they remain concerned he could be a flight risk.

  • March 04, 2024

    Auto Repair Website's Indicted VP Wants Co. To Pay Legal Bill

    The former finance vice president of RepairPal is suing the auto repair website in Delaware Chancery Court for an advancement of legal fees to help him fight accusations he directed $2.7 million in bonuses and extra pay to himself, saying the company is contractually obligated to foot the bill.

  • March 04, 2024

    Groups Push For Review Of $2.3B Walmart-Vizio Deal

    A group of 19 advocacy organizations including the American Economic Liberties Project and Public Citizen pushed the U.S. Department of Justice and the Federal Trade Commission to investigate the "serious threats" posed by Walmart's planned $2.3 billion acquisition of television maker Vizio.

  • March 04, 2024

    2 Ex-Latham Attys Join Freshfields As PE Practice Expands

    Freshfields Bruckhaus Deringer LLP welcomed two former Latham & Watkins LLP private equity mergers and acquisitions partners to its practice in New York on Monday, coinciding with the firm's strategy of expanding its private capital services globally.

  • March 04, 2024

    Former IRS Commissioner Joins Chamberlain Hrdlicka

    Former IRS Commissioner Charles "Chuck" Rettig joined Chamberlain Hrdlicka White Williams & Aughtry as a shareholder in Los Angeles, following in the footsteps of his former acting chief of staff, whom the firm hired last year.

  • March 04, 2024

    Catching Up With Delaware's Chancery Court

    A Swedish music producer's takeover, a proposed award payable in Tesla shares, Truth Social stock squabbles, and an unusually blunt slap down from the bench added up to an especially colorful week in Delaware's famous court of equity. On top of that came new cases about alleged power struggles, board entrenchment, consumer schemes and merger disputes.

  • March 04, 2024

    Sodexo Nicotine Surcharge Suit Gets Backing From DOL

    The U.S. Department of Labor backed a proposed class action accusing food provider Sodexo of unlawfully charging employees who use nicotine $1,200 more per year for health insurance, telling the Ninth Circuit that the arbitration agreement the company wants to use to sink the case conflicts with federal benefits law.

  • March 04, 2024

    Real Estate Group Of The Year: Weil

    Real estate attorneys at Weil played key roles in Micron Technology's development of a $100 billion semiconductor factory, Kroger's proposed $24.6 billion merger with fellow supermarket giant Albertsons and Brookfield's $8 billion sale of Westinghouse Electric Co., earning their practice a spot among Law360's 2023 Real Estate Groups of the Year.

  • March 04, 2024

    JetBlue, Spirit Nix $3.8B Deal After Court Block

    JetBlue Airways said Monday that it has reached an agreement with Spirit Airlines to end their planned $3.8 billion merger, after the U.S. Department of Justice convinced a Massachusetts federal court to block the deal earlier this year.

  • March 04, 2024

    Trump's Former Finance Chief Pleads Guilty To Perjury

    Allen Weisselberg, the longtime former financial chief of Donald Trump's real estate business empire, admitted Monday to lying under oath in the New York attorney general's civil fraud case as part of a plea deal to serve five months in jail.

  • March 01, 2024

    Google Gets Ad Tech Monopolization MDL Trimmed

    A New York federal judge on Friday threw out a number of claims in sprawling multidistrict litigation over Google's alleged monopoly in digital advertising, although the judge held that Google must continue to face limited claims from publishers and advertisers in several cases.

  • March 01, 2024

    Tesla Stock For Fees? Attys Who Got Musk's Pay Cut Say Yes

    The lawyers who convinced the Delaware Chancery Court to scuttle Elon Musk's proposed $55 billion Tesla compensation package on Friday filed a request for legal fees that came with a twist — they want to be paid in Tesla stock that rounds out to about $5.6 billion.

  • March 01, 2024

    Tesla Judge Sees 'Range Of Options' In Factory Race Bias Suit

    A California state judge who previously indicated she's prepared to certify a 6,000-member class of Black Tesla workers alleging the company allowed racist language and graffiti at a California factory cautioned Friday that she's still "exploring a range of options" on how to best adjudicate the case.

  • March 01, 2024

    Adamas' Ex-COO Agrees To $4.6M Deal In Investor Suit

    Adamas Pharmaceutical Inc. investors asked a California federal judge on Friday to approve a $4.65 million settlement with the company's former chief operating officer to resolve proposed class claims the company misled consumers about the success of its treatment for Parkinson's disease.

  • March 01, 2024

    3rd Circ. Preview: Exxon Whistleblower Case Fuels March

    Headlining the list of Third Circuit arguments in March is a bid from a pair of ExxonMobil whistleblowers to have the courts recognize an Occupational Safety and Health Administration order reinstating their jobs after they were fired following a press report mirroring internal complaints they made about the company's alleged misjudgment of energy output in the Delaware River Basin. 

  • March 01, 2024

    2nd Circ. Won't Revive Ex-Barclays Exec's Whistleblower Suit

    The Second Circuit on Friday affirmed a lower court's decision to toss a whistleblower suit from a former Barclays executive, finding that he didn't sufficiently back up his allegations of retaliation under the Sarbanes-Oxley Act.

  • March 01, 2024

    EV Maker Rivian Rips Investors' Class Cert. Bid In Fraud Suit

    Investors alleging Rivian Automotive Inc. underpriced its electric vehicles and misrepresented its profitability ahead of a blockbuster 2021 initial public offering cannot certify their class with zero evidence, weak fraud-on-the-market theories and troubling litigation tactics, Rivian argued in a California federal court filing Thursday.

  • March 01, 2024

    Avalara Beats Investors' $8.4B PE Buyout Challenge For Good

    A Washington federal judge refused Friday to give another chance to a proposed shareholder class action alleging Avalara lied to win investors' support for an $8.4 billion private equity buyout, in an order finding the lead plaintiff failed again to show the tax software company made false statements.

  • March 01, 2024

    Pepsi, Kraft And GE Can't Block DEI, Enviro Proxy Proposals

    A division of the U.S. Securities and Exchange Commission has rejected bids from PepsiCo Inc., The Kraft Heinz Co. and General Electric Co. to exclude from their upcoming proxy statements proposals from a conservative think tank on diversity and environmental matters.

  • March 01, 2024

    Gilstrap Orders Damages Retrial To Avoid $67.5M 'Train Wreck'

    Chief U.S. District Judge Rodney Gilstrap ordered a damages retrial in infringement litigation between G+ Communications and Samsung on Friday, warning there would otherwise be a "guaranteed 'train wreck'" since both parties failed to explain what they believed the $67.5 million verdict means.

  • March 01, 2024

    J&J's Talc Lit The Spark For Doctor's Fatal Cancer, Jury Told

    Johnson & Johnson's baby powder was the 'spark' that caused the cancer that killed a Miami anesthesiologist, an attorney for her widower told jurors Friday as he urged them to punish the company for hiding the product's cancer links from consumers.

  • March 01, 2024

    WTO To Wind Down Block On Digital Trade Tariffs

    World Trade Organization members agreed Friday to maintain a long-running block on tariffs for electronic transmissions for two more years before allowing it to permanently expire, a compromise outcome that is unlikely to satisfy American businesses.

  • March 01, 2024

    NY Judge Tosses $6.4B BMS Investor Action For Good

    Celgene Corp. investors could not convince a New York federal judge that Bristol-Myers Squibb Co. was intentionally trying to flout securities law by delaying the U.S. Food and Drug Administration's approval of a cancer treatment in order to avoid giving them a $6.4 billion payout. 

Expert Analysis

  • How Advance Notice Bylaws Are Faring In Del. Courts

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    Recent decisions make it clear that the Delaware Chancery Court is carefully reviewing public companies' amended advance notice bylaws in order to balance the competing interests of boards and shareholders, and will likely strike down bylaws that improperly interfere with stockholder franchises, say attorneys at Olshan Frome.

  • How New EU Tax And Transfer Pricing Rules May Affect M&A

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    Companies involved in mergers and acquisitions may need to adjust fiscal due diligence procedures to ensure they consider potential far-reaching effects of newly implemented transfer pricing measures, such as newly implemented global minimum tax and European Union anti-tax avoidance directives and proposals, says Patrick Tijhuis at BDO.

  • New FinCEN Guide Provides Useful BOI Context For Banks

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    Financial institutions should review a new Financial Crimes Enforcement Network compliance guide for helpful details about how the agency's beneficial ownership database should be used, though questions remain about the access rule and whether it will truly streamline bank borrowers' Corporate Transparency Act due diligence, says George Singer at Holland & Hart.

  • Strategies For Single-Member Special Litigation Committees

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    The Delaware Supreme Court's recent order in the Baker Hughes derivative litigation allowing testimony from a single-member special litigation committee highlights the fact that, while single-member SLCs are subject to heightened scrutiny, they can also provide unique opportunities, says Josh Bloom at MoloLamken.

  • Opinion

    Suits Against Insulin Pricing Are Driven By Rebate Addiction

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    A growing wave of lawsuits filed by states, cities and counties against insulin manufacturers and pharmacy benefit managers improperly allocate the blame for rising insulin costs, when in actuality the plaintiffs are partially responsible, says Dan Leonard at Granite Capitol Consulting.

  • Lessons For D&O Policyholders From Pharma Co. Ruling

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    A California federal court's recent decision in AmTrust v. 180 Life Sciences, requiring insurers to advance defense costs for a potentially covered claim, provides a valuable road map for directors and officers insurance policyholders, rebutting the common presumption that a D&O insurer's duty to advance costs is more limited than under other policies, say attorneys at Pasich.

  • How Firms Can Ensure Associate Gender Parity Lasts

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    Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.

  • Bracing Cos. For Calif. Privacy Agency's Restored Authority

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    A recent California state appeals court decision greenlights the California Privacy Protection Agency's enforcement of certain consumer privacy regulations, which may speed up compliance requirements, so businesses considering use of artificial intelligence, for instance, may want to reassess their handling of privacy notices and opt-out requests, say Kevin Angle and Matthew Cin at Ropes & Gray.

  • How Cos. Can Assess Open-Source Contribution Patent Risks

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    Recent trends underscore the importance of open-source software to the technology industry for both engineering and strategic purposes, and companies should consider using a framework that addresses whether contributions require granting licenses to patent claims in portfolios to analyze associated risks, says Shrut Kirti at TAE Technologies.

  • 7 Common Myths About Lateral Partner Moves

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    As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.

  • How Broker-Dealers Can Prepare For New Remote Work Rules

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    Securities regulators recently expanded broker-dealers' ability to permit flexible remote working arrangements through the introduction of residential supervisory locations, a welcome change that better allows broker-dealers to attract and retain talent, say attorneys at King & Spalding.

  • 5 Tips For Policyholders Arbitrating R&W Insurance Claims

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    With more representations and warranties insurance disputes being arbitrated, policyholder counsel should note issues that are unique to RWI claims, including those of privilege, priority and preserving subrogation, says Micah Skidmore at Haynes Boone. 

  • Series

    Cheering In The NFL Makes Me A Better Lawyer

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    Balancing my time between a BigLaw career and my role as an NFL cheerleader has taught me that pursuing your passions outside of work is not a distraction, but rather an opportunity to harness important skills that can positively affect how you approach work and view success in your career, says Rachel Schuster at Sheppard Mullin.

  • Considerations For Disclosing AI Use In SEC Filings

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    Recent remarks from U.S. Securities and Exchange Commission Chair Gary Gensler should be heard as a clarion call for public companies to disclose artificial intelligence use, with four takeaways on what companies should disclose, says Richard Hong at Morrison Cohen.

  • Args In APA Case Amplify Justices' Focus On Agency Power

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    In arguments last week in Corner Post v. Federal Reserve, the U.S. Supreme Court justices paid particular importance to the possible ripple effects of their decision, which will address when a facial challenge to long-standing federal rules under the Administrative Procedure Act first accrues and could thus unleash a flood of new lawsuits, say attorneys at Snell & Wilmer.

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