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Corporate
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September 08, 2025
NBA Taps Wachtell To Probe Possible Cap Scam By Clippers
Wachtell Lipton Rosen & Katz, which has led two previous probes into misconduct by NBA franchises that pushed their owners to sell the teams, has been retained by the league to investigate reported circumvention of the salary cap for superstar Kawhi Leonard by the Los Angeles Clippers.
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September 08, 2025
New $25M Vanguard Investor Tax Case Deal Gets Initial OK
A $25 million settlement of a class action accusing Vanguard of improperly triggering an asset sell-off that saddled investors with steep tax bills received preliminary approval Monday, according to an order in Pennsylvania federal court, after a $40 million deal was rejected in May.
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September 08, 2025
Catching Up With Delaware's Chancery Court
Last week at the Delaware Court of Chancery, a bankruptcy administrator for a generic drugmaker formerly known as Teligent was told he can proceed with duty of oversight claims against most former officers and directors of the company, who the administrator said was complicit in the company's collapse. In an opinion, the Court of Chancery cites its 1996 decision In re Caremark International Inc. Derivative Litigation, which refined director duties of care and oversight.
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September 08, 2025
IRS Appeals Office Chief Joins Skadden's DC Tax Team
Skadden Arps Slate Meagher & Flom LLP has hired the leader of the IRS Independent Office of Appeals, who brings years of experience helping resolve tax disputes and controversies, to the firm's team in the nation's capital, the firm said Monday.
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September 05, 2025
Aramark Hospital Workers Ignored Dying Man, Suit Says
Global food service company Aramark was hit with a wrongful death lawsuit in Pennsylvania federal court that claims its cleaning and security staff largely ignored a man suffering from a medical emergency, leaving him unconscious for 15 hours in a facility it operated in China.
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September 05, 2025
Near Ch. 11 Litigation Trustee Sues MobileFuse In Del.
A litigation trustee for bankrupt data analytics company Near Intelligence Inc. has sued New York-based digital ad company MobileFuse LLC in the U.S. Bankruptcy Court for Delaware, alleging a multiyear circular payment conspiracy that cost Near more than $50.7 million.
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September 05, 2025
Employment Authority: NYC Grocery Workers' Min. Pay
Law360 Employment Authority covers the biggest employment cases and trends. Catch up this week with coverage on how grocery delivery workers in New York City could become the latest group to receive a minimum pay standard without being classified as employees, a look at five employment bills to watch in California and how gig drivers in California could soon have the ability to unionize.
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September 05, 2025
Real Estate Recap: Investor Power Plays
Catch up on this past week's key developments by state from Law360 Real Estate Authority — including what attorneys have been seeing when it comes to the power dynamic between fund managers and their investors.
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September 05, 2025
2nd Circ. Backs Ex-Pfizer Worker's Insider Trading Conviction
The Second Circuit on Friday affirmed a former Pfizer Inc. statistician's insider trading conviction for making $272,000 in options trades from nonpublic news about the success of trials for the COVID-19 therapy drug Paxlovid, rejecting his arguments that prosecutors improperly shifted their legal theory at trial and pursued the case in the wrong venue.
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September 05, 2025
Fla. Judge Trims Trump Media SPAC Exec Hacking Suit
A Florida federal judge has sent into discovery a suit alleging a board director for President Donald Trump's social media company and his associate hacked a cloud server to steal documents used to oust the former CEO of the company, finding that several computer fraud and conspiracy claims fail but allowing a breach of fiduciary duty claim to move forward.
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September 05, 2025
FTC Drops Appeal For Rule Banning Noncompetes
The Federal Trade Commission officially abandoned its appeal Friday in a case that set aside a Biden administration rule banning the use of most employee noncompete clauses, but the agency said it plans to bring enforcement actions on a case-by-case basis instead.
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September 05, 2025
DOJ, Others Push High Court To Undo Cox Copyright Ruling
The U.S. solicitor general and a host of groups and businesses have thrown their support behind Cox Communications' U.S. Supreme Court appeal of a finding that telecom companies can be liable for copyright infringement for providing an internet connection that leads to music piracy online.
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September 05, 2025
Vein Tech Maker Wants Suit Over DOJ Kickback Probe Tossed
Vein disease device maker Inari Medical Inc. and its former top brass have asked a New York federal judge to toss a proposed investor class action over claims the company's share price fell after it disclosed an investigation into its compliance with federal anti-kickback laws, arguing the suit fails to allege any specific kickbacks or false statements.
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September 05, 2025
Vet Association Looks To Nix Tenn. School's Antitrust Claims
The American Veterinary Medical Association urged a Tennessee federal court to toss an antitrust case from Lincoln Memorial University targeting the group's accreditation requirements, saying there's no dispute to resolve because the school hasn't lost its accreditation.
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September 05, 2025
Lindberg Challenges Receivership After $524M Arbitral Award
Insurance mogul Greg Lindberg, who pled guilty to defrauding policyholders and was convicted of attempting to bribe North Carolina's insurance commissioner, urged a state appeals court to overturn the appointment of a receiver over his worldwide assets, after he was hit with a $524 million arbitration award.
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September 05, 2025
NY AG Settles Lead Paint Suit With Buffalo Landlord
New York's attorney general, Erie County and the city of Buffalo have reached a proposed settlement with a Buffalo landlord and other parties who were accused of failing to deal with hazardous lead paint in multiple rental properties, according to a proposed consent order and judgment filed Friday.
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September 05, 2025
Tesla Proposes Making Musk The Trillion-Dollar Man
Texas-based Tesla on Friday proposed a pay package for CEO Elon Musk that could earn him a trillion dollars' worth of stock, if he meets certain corporate objectives over the next decade. It is believed to be the first trillion-dollar corporate compensation package in history.
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September 05, 2025
GC Cheat Sheet: The Hottest Corporate News Of The Week
In arguing that the proposed class action against the business should be denied, online platform OnlyFans' parent company said that the decision to use AI to create mistake-riddled documents is severe misconduct. Meanwhile, the U.S. Department of Labor's employee benefits arm unveiled a new fee disclosure rule involving pharmacy benefit managers and plans to revisit retirement plan fiduciary investment advice regulations. These are some of the stories in corporate legal news you may have missed in the past week.
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September 05, 2025
Anthropic Agrees To Pay $1.5B To Settle AI Copyright Fight
Leading artificial intelligence developer Anthropic has agreed to pay $1.5 billion to settle a case brought by a group of authors who accused the company of illegally using their works to train its flagship large language model, the authors told a California federal court on Friday.
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September 05, 2025
IPO Market Gears Up For Late-Year Surge In New Listings
Initial public offerings appear poised for a surge to finish the year as the uncertainty surrounding President Donald Trump's sweeping tariff actions and geopolitical tensions has subsided, with experts saying that companies are getting more comfortable hitting the public markets.
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September 05, 2025
H&R Block User Drops Tax Privacy Suit Over Ad Trackers
An H&R Block user who accused the company, Google and Meta of illegally sharing his private tax information through online marketing tools dropped his proposed class action following federal court orders to arbitrate his claims, according to a filing in a California federal court.
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September 05, 2025
Google, Roblox Beat Gamer's Addiction Suit In Ga., For Now
A Georgia federal judge has dismissed without prejudice a gamer's claims against Google and Roblox that their products caused his addiction to video games, finding the allegations in his more than 200-page-long lawsuit are too broad and vague.
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September 05, 2025
CEO's Alleged Threat After Records Demand Prompts Del. Suit
A major stockholder and officer of a health risk software venture who reported receiving a threatening reply from the company's CEO when he requested records has sued for the documents in Delaware's Court of Chancery, saying the earlier request was otherwise ignored.
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September 05, 2025
Taxation With Representation: Milbank, Wachtell, Latham
In this week's Taxation With Representation, aircraft lessor Air Lease Corp. agrees to a take-private deal, Evernorth Health Services invests billions in Shields Health Solutions, Cadence Design Systems Inc. acquires the design and engineering business of Hexagon AB, and Kraft Heinz Co. plans to split into two independent, publicly traded companies.
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September 05, 2025
How A 'Risky' Move Fueled Kobre & Kim's Win Over Phillips 66
In the trial over Propel Fuels' claims that Phillips 66 stole trade secrets during due diligence for an acquisition, Kobre & Kim switched up standard witness order and convinced a jury to award $605 million.
Expert Analysis
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New DOJ Penalty Policy Could Spell Trouble For Cos.
In light of the U.S. Department of Justice’s recently published guidance making victim relief a core condition of coordinated resolution crediting, companies facing parallel investigations must carefully calibrate their negotiation strategies to minimize the risk of duplicative penalties, say attorneys at Debevoise.
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IPR Decisions Clarify Stewart's 'Settled Expectations' Factor
Recent discretionary denial decisions from U.S. Patent and Trademark Office acting Director Coke Morgan Stewart have begun to illuminate the contours of her "settled expectations" doctrine, informing when it might be worth petitioning for inter partes review if the patent at issue has been in force for a few years, say attorneys at Morgan Lewis.
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4th Circ. Favors Plain Meaning In Bump-Up D&O Ruling
The Fourth Circuit's latest denial of indemnity coverage in Towers Watson v. National Union Fire Insurance and its previous ruling in this case lay out a pragmatic approach to bump-up provisions that avoids hypertechnical constructions to limit the effect of a policy's plain meaning, say attorneys at Kennedys.
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A Look At Key 5th Circ. White Collar Rulings So Far This Year
In the first half of 2025, the Fifth Circuit has decided numerous cases of particular import to white collar practitioners, which collectively underscore the critical importance of meticulous recordbuilding, procedural compliance and strategic litigation choices at every stage of a case, says Joe Magliolo at Jackson Walker.
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How Cos. In China Can Tailor Compliance Amid FCPA Shifts
The U.S. Department of Justice’s recently updated Foreign Corrupt Practices Act enforcement guidelines create a fluid business environment for companies operating in China that will require a customized compliance approach to navigate both countries’ corporate and legal systems, say attorneys at Dickinson Wright.
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SEC, FINRA Obligations In Changing AI Regulatory Landscape
Despite the U.S. Securities and Exchange Commission's recent withdrawal of its proposed artificial intelligence conflict rules, financial regulators remain focused on firms developing the correct AI compliance framework, as well as continuously testing and supervising them to ensure they're fit for purpose, say attorneys at Cahill Gordon.
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Opinion
DOJ's HPE-Juniper Settlement Will Help US Compete
The U.S. Department of Justice settlement with Hewlett Packard Enterprise clears the purchase of Juniper Networks in a deal that positions the U.S. as a leader in secure, scalable networking and critical digital infrastructure by requiring the divestiture of a WiFi network business geared toward small firms, says John Shu at Taipei Medical University.
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Anthropic Ruling Creates Fair Use Framework For AI Training
A California federal court’s recent ruling that Anthropic’s use of copyrighted books to train its large language model qualified as fair use provides important guidance for both artificial intelligence developers and copyright holders because it distinguishes between transformative uses and unauthorized uses involving pirated or format-shifted works, say attorneys at Ropes & Gray.
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Series
Playing Baseball Makes Me A Better Lawyer
Playing baseball in college, and now Wiffle ball in a local league, has taught me that teamwork, mental endurance and emotional intelligence are not only important to success in the sport, but also to success as a trial attorney, says Kevan Dorsey at Swift Currie.
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Ultra-Processed Food Claims Rely On Unproven Science
Plaintiffs' arguments that ultra-processed foods are responsible for the nationwide increase in certain chronic illnesses, though a novel approach to food-based personal injury claims, depend on theories that are still being tested, say attorneys at DLA Piper.
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APA Relief May Blunt Justices' Universal Injunction Ruling
The Administrative Procedure Act’s avenue for universal preliminary relief seems to hold the most promise for neutralizing the U.S. Supreme Court’s decision in Trump v. CASA to limit federal district courts' nationally applicable orders, say attorneys at Crowell.
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Series
Ohio Banking Brief: All The Notable Legal Updates In Q2
Ohio's financial services sector saw several significant developments in the second quarter of 2025, including a case that confirmed credit unions' setoff rights, another that established contract rights between banks and cardholders, and the House passage of a digital asset bill, say attorneys at Frost Brown.
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Building Better Earnouts In The Current M&A Climate
In the face of market uncertainty, we've seen a continued reliance on earnouts in M&A deals so far this year, but to reduce the risk of related litigation, it's important to use objective standards, apply company metrics cautiously and ensure short time periods, among other best practices, say attorneys at White & Case.
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Managing Risks As State AGs Seek To Fill Enforcement Gap
Given an unprecedented surge in state attorney general activity resulting from significant shifts in federal enforcement priorities, companies must consider tailored strategies for navigating the ever-evolving risk landscape, say attorneys at Cozen O'Connor.
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A Deep Dive Into 14 Nixed Gensler-Era SEC Rule Proposals
The U.S. Securities and Exchange Commission last month formally withdrew 14 notices of proposed rulemaking, including several significant and widely criticized proposals that had been issued under former Chair Gary Gensler's leadership, signaling a clear and definitive shift away from the previous administration, say attorneys at Dechert.