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Compliance
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May 22, 2025
Silvergate Estate To Chip In For $37.5M Investor Settlement
Silvergate Capital and investors suing over its collapse have reached a $37.5 million deal with a "rare" source of partial funding to resolve claims that the failed crypto-focused bank misrepresented its safeguards against onboarding customers like FTX, the fraud-ridden crypto exchange that made up roughly a sixth of the bank's deposit base.
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May 22, 2025
Conn. AG Targets 'Bootleg' Weight Loss Drug Sellers
Connecticut has launched a consumer protection lawsuit in state court against a Florida-based company and its owner, accusing them of peddling untested and unsafe, research-level, "bootleg" GLP-1 weight loss drugs to customers.
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May 22, 2025
Contractor Settles DOJ's Aircraft Adhesive FCA Allegations
A federal contractor paid to make an external pod to carry communications equipment on military aircraft agreed to pay $512,000 to resolve allegations that it misrepresented or omitted important information regarding the adhesive used in a prototype as well as the testing procedures used on that prototype.
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May 22, 2025
Mass. Justices Say Worker's Raise Doesn't Doom Bias Claim
Massachusetts' top court on Thursday found that an employer may still face a discrimination claim for an alleged retaliatory action for union activity, even if the move left the worker with a pay bump.
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May 22, 2025
Senior FCC Democrat Attends Final Monthly Meeting
Geoffrey Starks, the senior Democrat on the Federal Communications Commission, participated in his last agency meeting Thursday, where he announced he will leave the agency sometime within the next month.
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May 22, 2025
High Court Declines To Narrow Reach Of Federal Fraud Law
The U.S. Supreme Court on Thursday held that using deceptive means to induce a business transaction may still be a crime even if the defendant doesn't seek to cause economic loss, a departure from earlier decisions that have narrowed the scope of federal fraud statutes.
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May 21, 2025
OCC 'Erred Across The Board,' Ex-Wells Fargo Exec Says
A former Wells Fargo risk officer has asked the Eighth Circuit to vacate steep sanctions that a top U.S. regulator imposed over her alleged role in the bank's fake accounts scandal, arguing she has been unfairly scapegoated and unconstitutionally prosecuted.
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May 21, 2025
Fox Accuses Smartmatic Of Destroying 'Critical' Evidence
Fox News on Wednesday called for Smartmatic to be sanctioned, claiming that nearly two-dozen executives and other employees at the voting tech company destroyed "critical" evidence related to the company's defamation case against the television network, an accusation that comes a week after Smartmatic said Fox deleted relevant texts.
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May 21, 2025
Judge Prolongs Pause On Trump's HUD, DOT Grant DEI Limits
A Washington federal judge Wednesday extended a block on federal grant conditions limiting homelessness aid and transportation funding to recipients who align with the Trump administration's policies against diversity and inclusion programming, as nearly two dozen localities joined New York, San Francisco and others challenging the terms.
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May 21, 2025
'DIY' Rape Kit Ban Challenge Seems To Leave 9th Circ. Split
A Ninth Circuit panel appeared divided Wednesday over a company's appeal in its case challenging Washington state's ban on self-administered DNA collection kits for sexual assault survivors, with one judge remarking the product "doesn't do a whole heck of a lot" if the evidence isn't admissible in court. Â
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May 21, 2025
CFTC Member Says Enforcement Needs More Transparency
The U.S. Commodity Futures Trading Commission's Christy Goldsmith Romero on Wednesday called on the agency to be more transparent about its enforcement decisions, while laying out the factors she weighs in crediting firms for self-reporting and cooperation.
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May 21, 2025
Wyden Urges Sens. To Switch Carriers Over Privacy Risks
AT&T, Verizon and T-Mobile failed to put in place systems notifying senators about government surveillance requests, despite being contractually required to, Sen. Ron Wyden, D-Ore., told his colleagues Wednesday, urging them in a letter to "seriously consider" switching mobile carriers for personal and campaign phones.
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May 21, 2025
Google, Character.AI Can't Escape Suit Over Teen's Suicide
A Florida federal judge on Wednesday greenlit the bulk of claims in a suit accusing Character.AI and Google of causing a 14-year-old's suicide after he became addicted to an artificial intelligence chatbot, saying the AI app can be considered a product for the purposes of a product liability claim.
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May 21, 2025
House Panel Advances Bills Easing Securities, Banking Regs
The U.S. House of Representatives Financial Services Committee this week approved 25 bills largely aimed at reducing capital markets and banking regulations, moving the deregulatory proposals forward for consideration by the full House.
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May 21, 2025
Yale Says Misconduct Tanks Ex-Student's Defamation Case
Yale University and a woman who accused a classmate of sexual assault, resulting in his expulsion, have together asked a Connecticut federal judge to throw out the since-acquitted student's defamation and contract claims, arguing that repeated and "egregious" litigation misconduct despite court warnings warrants dismissal.
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May 21, 2025
Verizon Looks To Break Free Of TracFone Unlocking Condition
Verizon is once again asking the Federal Communications Commission to let it out of a condition from its takeover of TracFone requiring the carrier to unlock its mobile phones after 60 days.
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May 21, 2025
SC Judge Restores Frozen Federal Grant Funding
A South Carolina federal judge ordered the Trump administration to restore 32 grants funded by the Inflation Reduction Act and the Infrastructure Investment and Jobs Act after the government said it wasn't contesting the merits of the grant recipients' claims.
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May 21, 2025
Title Insurance Co. Fights Treasury All-Cash Resi Deals Rule
A title insurance company and a subsidiary have filed suit in Florida federal court challenging new reporting requirements for all-cash real estate closings, saying the rule exceeds the U.S. Department of the Treasury's Financial Crimes Enforcement Network's authority.
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May 21, 2025
Chancery Orders Nominating Do-Over For Ionic Board Vote
Citing overwhelming trial evidence, a Delaware vice chancellor on Wednesday told bankrupt Celsius Network's Ionic Digital successor to reopen a board nomination window after finding that the company wrongly eliminated one of two director seats ahead of an election in a defensive move targeting dissident candidates.
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May 21, 2025
GOP FTC Renews Calls For Orange Book Patent Delistings
The now-Republican controlled Federal Trade Commission again called on Teva, Novartis, Mylan and other drugmakers to remove patents from a key federal database that partially insulates their drugs from generic competition, arguing Wednesday the patents cover "devices," not drugs, and thus don't warrant such protection.
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May 21, 2025
Texas Bills To Watch Before The End Of The 2025 Session
With less than two weeks remaining in the Texas legislative session, lawmakers will hit several deadlines in the coming days that will seal the fate of bills surrounding legal procedure, abortion, artificial intelligence and other topics.
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May 21, 2025
Handel's Accused Of Hiding Dyes In Its 'Homemade' Ice Cream
A Handel's customer filed a false advertising proposed class action in California federal court Wednesday alleging the ice cream retailer claims that its frozen treats are "homemade" using the best quality ingredients with a recipe dating back to 1945, while hiding they contain artificial food dyes and propylene glycol.Â
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May 21, 2025
Courts Can't Review Trump's Tariff Emergencies, Gov't Says
Courts can't review President Donald Trump's decision that unusual or extraordinary threats exist under the International Emergency Economic Powers Act, a government attorney told the U.S. Court of International Trade on Wednesday as 12 states seek to block Trump's tariffs under the law.
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May 21, 2025
Offshore Wind Farm Foes Back Trump Permitting Pause
Opponents of a New Jersey offshore wind farm on Wednesday backed the Trump administration's freeze on wind project permitting, telling a Massachusetts federal judge the moratorium is both legal and constitutional.
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May 21, 2025
EPA Chief Defends Trump Plan To Halve Agency Budget
U.S. Environmental Protection Agency Administrator Lee Zeldin on Wednesday told senators that despite President Donald Trump's proposal to cut the EPA's budget by 55% and an internal reorganization, agency scientists can handle the current workload.
Expert Analysis
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End May Be In Sight For Small Biz Set-Aside Programs
A Jan. 21 executive order largely disarming the Office of Federal Contract Compliance Programs, along with recent court rulings, suggests that the administration may soon attempt to eliminate set-asides intended to level the award playing field for small business contractors that qualify under socioeconomic programs, say attorneys at Alston & Bird.
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Traversing The Shifting Sands Of ESG Reporting Compliance
Multinational corporations have increasingly found themselves between a rock and a hard place attempting to comply with EU and California ESG requirements while not running afoul of expanding U.S. anti-ESG regimes, but focusing on what is material to shareholder value and establishing strong governance can help, say attorneys at MoFo.
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An Unrestrained, Bright-Eyed View Of Legal AI's Future
Todd Itami at Covington offers a bright-eyed, laughing-all-the-way, skydive look at what the legal industry could look like after an artificial intelligence revolution, which he believes may happen much sooner and more dramatically than we expect.
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Ban On Reputation Risk May Help Bank Enforcement Defense
The Comptroller of the Currency and Federal Deposit Insurance Corp.’s recent commitment to stop examining banks for reputation risk could help defendants in enforcement actions challenge unfavorable assessments and support defendants' arguments for lower civil money penalties, says Brendan Clegg at Luse Gorman.
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Tracking The Evolution In Litigation Finance
Despite continued innovation, litigation finance remains an immature market with borrowers recieving significantly different terms as lenders learn to value cases, which firms need a strong handle on to ensure lending terms do not overwhelm collateral value, says Robert Wilkins at Lightfoot Franklin.
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Keys To Regulatory Diligence In Life Sciences Transactions
Conducting effective regulatory due diligence for life sciences deals requires careful review of a target company's activities, and separate sets of considerations for commercial and pipeline products, says Anna Zhao at GunnerCooke.
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How Plan Sponsors Can Mitigate Risk In PBM Contracts
A recent lawsuit in New York federal court alleges that JPMorgan caused exorbitant prescription costs by mishandling the pharmacy benefit manager arrangement, adding to a growing body of Employee Retirement Income Security Act fiduciary breach litigation and affirming that fiduciaries must proactively manage their healthcare plan vendors, say attorneys at Hall Benefits Law.
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Lessons From Pa. Wiretapping Class Action Dismissal
A recent wiretapping class action in Pennsylvania federal court resulting in the dispositive dismissal of the action provides key insights on how online notice and consent can be leveraged to directly address and mitigate legal risks and class action liability exposure, say attorneys at Baker Donelson.
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Assessing Market Manipulation Claims In Energy Markets
Today's energy markets are conducive to sudden price changes, breakdowns in pricing linkages and substantial shifts in trading patterns, so it's necessary to take a holistic view when evaluating allegations of market manipulation, say Maximilian Bredendiek, Greg Leonard and Manuel Vasconcelos at Cornerstone Research.
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How Calif., NY Could Fill Consumer Finance Regulatory Void
California and New York have historically taken the lead in consumer financial protection, and both show signs of becoming even more active in this area during the second Trump administration amid an enforcement pullback at the federal level, say attorneys at Sidley.
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Series
Volunteer Firefighting Makes Me A Better Lawyer
While practicing corporate law and firefighting may appear incongruous, the latter benefits my legal career by reminding me of the importance of humility, perspective and education, says Nicholas Passaro at Ford.
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Tax Takeaways From Georgia's 2025 Legislative Session
Attorneys at Eversheds Sutherland discuss tax-related measures passed by the Georgia Legislature during the session that adjourned on April 4, which included a decrease in income tax rates, an extension of the time in which to a protest tax assessment and cleanup provisions related to launching the state’s new tax court next year.
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Limit On SEC Enforcement Authority May Mean Fewer Actions
Following a recent U.S. Securities and Exchange Commission final rule revoking the Enforcement Division director's long-standing authority to issue formal investigation orders, it's clear the division is headed for a new era of limited autonomy, marked by a significantly slower pace of SEC investigations, say attorneys at Ballard Spahr.
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Influencer Campaign Lawsuits Signal New Endorsement Risks
Recent class actions allege that companies' influencer campaigns violate the Federal Trade Commission's Endorsement Guides and various state laws, but it's not clear whether the failure to comply can sustain these lawsuits, or whether the plaintiffs' creative theory of damages will hold up to scrutiny, says Gonzalo Mon at Kelley Drye.
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How Lenders Should Prepare For Crypto As Collateral
Amid the administration's desire to position the U.S. as a digital banking leader, lenders should prepare for customers seeking to use cryptocurrency as collateral for financing, consider which rules govern these transactions, and assess their ability to obtain or maintain control of the virtual funds, say attorneys at Frost Brown.