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Compliance
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May 23, 2025
Mo. Says Starbucks Lacks Grounds To Escape DEI Bias Suit
The state of Missouri urged a federal judge to reject Starbucks' bid to dismiss its suit claiming its diversity policies discriminate based on race and gender, arguing it has put forward enough evidence showing how the company's practices have harmed its citizens to keep the case in court.
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May 23, 2025
9th Circ. Urged To Force ERISA 401(k) Suit Arbitration
A Los Angeles-based investment management company urged the Ninth Circuit to force individual arbitration of an ex-worker's proposed class action alleging 401(k) mismanagement, arguing a lower court incorrectly concluded an arbitration provision in employees' retirement plan wasn't enforceable because it waived statutory rights under federal benefits law.
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May 23, 2025
GC Cheat Sheet: The Hottest Corporate News Of The Week
A new study found that the total number of shareholder proxy proposals submitted this year dropped significantly after the SEC rescinded past guidance. Meanwhile, a handful of BigLaw firms wrote to members of Congress defending the controversial agreements they made with the Trump administration to avoid executive orders targeting their shops. These are some of the stories in corporate legal news you may have missed in the past week.​
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May 23, 2025
2 Firms Tapped To Lead Visa Derivative Suits Over DOJ Claims
A California federal judge has combined lawsuits accusing Visa's executives and directors of allowing the company to understate the regulatory risk it faced by engaging in anticompetitive actions currently at the center of a lawsuit brought by the U.S. Department of Justice last year, and appointed two law firms to lead the litigation.
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May 23, 2025
Lindberg Urges NC Panel To Rebuff 'Ambush' Sanctions Bid
A convicted billionaire seeking to unravel a receivership order against him has urged the North Carolina Court of Appeals not to scrap his case as a sanction for alleged procedural violations, saying the only gamesmanship afoot is opposing counsel's monthslong "radio silence."
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May 23, 2025
FTC Finally Drops Challenge To Microsoft-Activision Deal
The Federal Trade Commission has dropped its in-house case seeking to block Microsoft's $68.7 billion purchase of video game developer Activision Blizzard, after its Ninth Circuit loss earlier this month, ending a lingering challenge to a deal that closed in late 2023.
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May 23, 2025
House Budget Would Sap Emerging Energy Tax Credit Market
The House's sweeping tax and budget legislation would scrap a relatively new financing option that lets project development owners sell valuable green energy tax credits for cash, which would likely doom or severely hamper the burgeoning market for the credits.
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May 23, 2025
Alarms Sound As DOJ Anti-Corruption Unit Withers
Created in the aftermath of the Watergate scandal as a guardrail against government corruption and politically motivated criminal prosecutions, the Justice Department's Public Integrity Section has been stripped down under the Trump administration to a skeleton crew with severely limited responsibilities, potentially opening the door for improper prosecutions and eliminating a knowledge base built up over decades.
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May 23, 2025
Takeaways For Benefits Attys After Parity Enforcement Freeze
A recent decision by President Donald Trump’s administration to stop enforcing regulations requiring employer health plans to analyze their coverage of behavioral health conditions compared with physical healthcare coverage has benefits attorneys uncertain about what's coming next. Here, Law360 talks to attorneys about the regulatory about-face.
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May 23, 2025
La. Sued For Blocking Community Air Monitoring Sensors
Louisiana is hindering its citizens' ability to monitor air pollution in their communities by threatening to dish out "crippling" fines to those who share data collected from certain affordable sensors, according to a lawsuit filed by environmental groups accusing the state of violating the First and 14th amendments.
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May 23, 2025
Judge Blocks Trump Move To Ban Harvard Foreign Enrollment
A Massachusetts federal judge on Friday granted a restraining order to Harvard University temporarily blocking the Trump administration from enforcing a ban on enrolling foreign students, hours after the school filed a suit calling the move unconstitutional and retaliatory.
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May 22, 2025
SEC Drops Dealer Suits In 'Astonishing' Move, Crenshaw Says
The U.S. Securities and Exchange Commission on Thursday dropped several suits targeting businesses for failing to register as securities "dealers" with the agency as required by law, a move that the SEC's sole Democratic commissioner called "astonishing."
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May 22, 2025
Hawaii Shop Alleges CBD Wares Were Actually THC
A CBD retailer sued a supplier in Hawaii federal court Tuesday for allegedly selling it goods that were represented as CBD products when they actually had an unlawful amount THC in them, which caused some of the products to be seized by law enforcement and one of its customers to fall seriously ill.
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May 23, 2025
Ex-FCC Nom Slams Trump For Pulling Digital Equity Funding
One-time FCC nominee Gigi Sohn dug into President Donald Trump for killing the $2.75 billion Digital Equity Fund, borrowing his language to say that the abrupt cancellation of a congressionally approved program was "unconstitutional" and "illegal."
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May 22, 2025
Critics Decry Budget Bill As Clean Energy 'Attempted Murder'
The budget reconciliation bill that House Republicans passed Thursday replaced an earlier plan to phase out renewable energy tax credits with a 60-day qualification period, leaving project developers struggling to meet a deadline experts say is unrealistic and effectively guts the benefit.
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May 22, 2025
Lottery.com Execs Cop To Securities Fraud In SPAC Case
Two former Lottery.com executives pled guilty Thursday to their role in a scheme to fraudulently inflate reported revenues in a 2021 take-public deal involving the mobile and online lottery gaming platform company.
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May 22, 2025
Fiber Optics Co.'s Leaders Sued Over Financial Restatements
Officers and directors of fiber optics technology company Luna Innovations Inc. are facing a shareholder derivative complaint after the company announced it would revise certain financial statements after prematurely recognizing certain revenue it hadn't actually earned yet.
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May 22, 2025
What's Next As DOJ Mulls Dropping Boeing Criminal Case
Boeing might be on the verge of closing a chapter in its 737 Max legal saga as the U.S. Department of Justice contemplates dropping its criminal conspiracy case against the company in what experts described as an unprecedented move just a year after Boeing was preparing to be branded a corporate felon.
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May 22, 2025
Proxy Proposal Omissions Rose Post-SEC Bulletin, Study Finds
There was a sharp drop in the total number of shareholder proxy proposals submitted this year and a rise in the number of submitted proposals that were omitted from corporate ballots following the U.S. Securities and Exchange Commission's rescission of past guidance, ISS Corporate Solutions Inc. said Thursday.
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May 22, 2025
Trump Admin Ends Early Biden-Era Memphis Redlining Deal
A Tennessee federal judge on Wednesday approved a Trump administration request to terminate a redlining consent order with Trustmark National Bank, closing out the settlement that kicked off a Biden-era crackdown on mortgage lending discrimination.
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May 22, 2025
L3 Technologies To Pay $62M To Settle FCA Claims, DOJ Says
The U.S. Department of Justice said Thursday a defense contractor agreed to pay $62 million to settle allegations that it violated federal laws by failing to provide accurate price and cost data for communications equipment sold to the military and other agencies.
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May 22, 2025
7th Circ. Wary Of Crypto Fund Owner's Appeal Of $231M Fine
A Seventh Circuit panel on Thursday pressed counsel for a cryptocurrency fund operator challenging a $231 million judgment for running a Ponzi scheme to address whether he'd waived his argument that the digital tokens his funds invested in aren't "commodities" subject to regulation by the Commodity Futures Trading Commission by not raising it in the lower court.
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May 22, 2025
Asphalt Exec Gets 6 Months For $22M Bid-Rigging Scheme
A Michigan federal judge on Thursday sentenced a former asphalt paving company president to six months in prison, saying the roughly $22 million in contracts that his involvement in a bid-rigging scheme earned his company warrants prison time to deter white-collar crime.
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May 22, 2025
Gov't Presses High Court To Hear Activist Investor Suit
The federal government Thursday urged the U.S. Supreme Court to hear a case accusing a series of closed-end funds of shutting an activist investor out of its voting rights, arguing that the investor's lawsuit threatens to have an "unpredictable impact" on the private fund industry.
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May 22, 2025
FTC Can't Get Amazon Execs' Financials Yet In Prime Case
A Washington federal court has refused the Federal Trade Commission's request to immediately force several Amazon executives to turn over sensitive financial information, ruling the agency must instead wait until after trial in its case accusing the company of trapping consumers into renewing Prime subscriptions.
Expert Analysis
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How Attorneys Can Master The Art Of On-Camera Presence
As attorneys are increasingly presented with on-camera opportunities, they can adapt their traditional legal skills for video contexts — such as virtual client meetings, marketing content or media interviews — by understanding the medium and making intentional adjustments, says Kerry Barrett.
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Justices' TikTok Ruling Sets Stage For 1st Amendment Battle
The U.S. Supreme Court's landmark ruling upholding a law requiring TikTok's sale sets the stage for an inevitable clash between free speech and government interests and signals that future cases will turn on whether a regulation poses a substantial burden on speech, say attorneys at Dykema.
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What Del. Corporate Law Rework Means For Founder-Led Cos.
Although the amendments to the Delaware General Corporation Law have proven somewhat divisive, they will provide greater clarity and predictability in the rules that apply to founder-led companies navigating transactions concerning controlling stockholders and responding to books-and-records requests, say attorneys at Munger Tolles.
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Border Cash Transaction Rule Heralds Wider AML Crackdown
The Financial Crimes Enforcement Network’s new order for money services providers near the Mexican border to report cash transactions over $200 should warn financial institutions to prepare for the new administration's heightened scrutiny of cross-border transactions and anti-money laundering compliance, says Daniel Silva at Buchalter.
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Series
Baseball Fantasy Camp Makes Me A Better Lawyer
With six baseball fantasy experiences under my belt, I've learned time and again that I didn't make the wrong career choice, but I've also learned that baseball lessons are life lessons, and I'm a better lawyer for my time at St. Louis Cardinals fantasy camp, says Scott Felder at Wiley.
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DOJ Immigration Playbook May Take Cues From A 2017 Case
A record criminal resolution with a tree trimming company accused of knowingly employing unauthorized workers in 2017 may provide clues as to how the U.S. Department of Justice’s immigration crackdown will touch American companies, which should prepare now for potential enforcement actions, says Jonathan Porter at Husch Blackwell.
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Paul Atkins' Past Speeches Offer A Glimpse Into SEC's Future
Following Paul Atkins' Thursday Senate confirmation hearing, a look at his public remarks while serving as a commissioner at the U.S. Securities and Exchange Commission between 2002 and 2008 reveals eight possible structural and procedural changes the SEC may see once he likely takes over as chair, say attorneys at Covington.
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NM Case Shows Power Of Environmental Public Nuisance Law
A recent ruling from a New Mexico appeals court finding that a pattern of environmental violations, even without any substantial impact on a nearby community, can trigger nuisance liability — including potential damages and injunctive relief — has important implications for regulated entities in the state, says Kaleb Brooks at Spencer Fane.
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McKernan-Led ÃÛÌÒÊÓÆµ May Lead To Decentralized Enforcement
Though Jonathan McKernan’s confirmation as director would likely mean a less active Consumer Financial Protection Bureau, the decreased federal oversight could lead to more state-led investigations, multistate regulatory actions and private lawsuits under consumer protection laws, says Jonathan Pompan at Venable.
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Include State And Local Enforcers In Cartel Risk Evaluations
Any reassessment of enforcement risk following the federal designation of drug cartels as foreign terrorist organizations should include applicable state and local enforcement authorities, which have powerful tools, such as grand jury subpoenas and search warrants, that businesses would be wise to consider, say attorneys at King & Spalding.
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Series
Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredibly rewarding and help you become a more versatile lawyer, says Michael Beckwith at Dickinson Wright.
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How Justices Rule On Straight Bias May Shift Worker Suits
Following oral argument at the U.S. Supreme Court in Ames v. Ohio Department of Youth Services, in which a heterosexual woman sued her employer for sexual orientation discrimination, the forthcoming decision may create a perfect storm for employers amid recent attacks on diversity, equity and inclusion, say attorneys at Proskauer.
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How Del. Supreme Court, Legislature Have Clarified 'Control'
The Delaware Supreme Court's January decision in In re: Oracle and the General Assembly's passage of amendments to the Delaware General Corporation Law this week, when taken together, help make the controlling-stockholder analysis clearer and more predictable for companies with large stockholders, say attorneys at Baker Botts.
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What To Expect For Stem Cell Regulation Under Trump Admin
The new administration's push for deregulation, plus the post-Chevron legal landscape, and momentum from key political and industry players to facilitate stem cell innovation may create an opportune backdrop for a significant reduction in the U.S. Food and Drug Administration's regulatory framework for stem cells, say attorneys at Sheppard Mullin.
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Opinion
SEC Shouldn't Complicate Broker-Dealers' AML Compliance
Recent U.S. Securities and Exchange Commission anti-money laundering enforcement actions show that regulators should not second-guess broker-dealers' reasonable judgment, or stretch the law or their jurisdiction to regulate through enforcement, lest they expect broker-dealers to vigorously defend their AML programs, say attorneys at WilmerHale.