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Compliance
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July 16, 2025
Provable Taps Ex-CoinList Ventures Exec As General Counsel
Provable, a company focused on developing products for compliant, confidential payments and creating tools for developers to use on the Aleo blockchain, has added a former CoinList legal leader as its general counsel.
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July 16, 2025
Cheesesteak Maker Gets 2 Mos. Sliced From Prison Sentence
A member of the family behind the popular Tony Luke's cheesesteak shop in South Philadelphia was re-sentenced Wednesday to 18 months in prison, marking a two-month reduction of the original term he'd received for paying employees under the table.
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July 15, 2025
HomeServices, Douglas Elliman Nix Broker Fee Antitrust Suit
HomeServices of America and Douglas Elliman escaped homebuyers' proposed antitrust class action alleging real estate agents conspired to artificially inflate broke service commissions for home sales, after a Florida federal judge ruled the buyers lacked standing since home sellers are the ones who paid those commission fees.聽
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July 15, 2025
GTCR Seeks Rival's Sales Data To Counter FTC Challenge
The private equity firm looking to buy medical device coating company Surmodics is seeking Salesforce data from another competitor in the space, saying the information is crucial to showing that the industry will still be competitive if its acquisition is cleared.
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July 15, 2025
Trump Admin Seeks Win In Harvard $2B Funding Freeze Case
The Trump administration urged a Massachusetts federal judge Monday to grant it summary judgment in Harvard University's lawsuit challenging the government's effort to freeze $2.2 billion in funding, arguing the dispute is a contract fight that belongs in the Federal Claims Court and the allegations fail on the merits.
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July 15, 2025
Tornado Founder Wasn't In On Crypto Laundering, Jury Told
Counsel for a Seattle-area software developer and co-founder of Tornado Cash told a New York federal jury on Tuesday that he had nothing to do with North Korean cybercriminals and others who used the cryptocurrency mixer to launder more than $1 billion in ill-gotten gains.
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July 15, 2025
Interactive Brokers To Pay OFAC $11.8M For Sanctions Lapses
Interactive Brokers LLC has agreed to pay more than $11.8 million to settle allegations from the U.S. Department of the Treasury's trade sanctions enforcement arm that the electronic broker-dealer violated various sanctions programs over a period of more than seven years.
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July 15, 2025
Pool Supply Co. Escapes Investor Suit Over COVID-Era Sales
Arizona-based pool supply company Leslie's Inc. won dismissal, for now, of an investor class action led by North Carolina's state treasurer that alleged the company botched disclosures about waning demand during the COVID-19 pandemic, with the court finding the allegations failed to state a claim for federal securities law violations.
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July 15, 2025
EXIM Bank Sued For 'Unconscionable' LNG Project Funding
Friends of the Earth is asking a D.C. federal judge to block $4.7 billion in financing the Export-Import Bank of the United States has authorized for a massive liquefied natural gas project in Mozambique led by TotalEnergies SE.
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July 15, 2025
'NJ Weedman' Can Proceed With Suit Over City Hall Protest
The city of Trenton, New Jersey, can't escape a lawsuit filed by a cannabis advocate known as NJWeedman who claims the municipality violated his First Amendment rights by retaliating against him after he projected a "Batman-like" protest message on City Hall, a federal judge ruled, saying it might be "annoying" but it is protected speech.
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July 15, 2025
Biz Groups Urge 5th Circ. To Reverse BP's Pension Suit Loss
Multiple business groups filed amici briefs with the Fifth Circuit asking the court to do away with a judgment in favor of 7,000 BP retirees who alleged that the oil giant underpaid their retirement benefits, saying the lower court's decision conflicts with "black letter law."
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July 15, 2025
FTC Says Merger Penalty Deal In The Works With 7-Eleven
The Federal Trade Commission is inching closer to a settlement with 7-Eleven in its suit seeking to slap the convenience store chain with a $77.5 million penalty for violating a settlement that it inked with the agency in order to get a merger approved back in 2018.
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July 15, 2025
PCAOB Chief Erica Williams Has Resigned, SEC Chair Says
Erica Y. Williams has resigned as chair and a board member of the Public Company Accounting Oversight Board after more than three years in the position, according to a statement issued Tuesday by U.S. Securities and Exchange Commission Chairman Paul S. Atkins.
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July 15, 2025
Players' Atty Gets $1.4M In Fees For NFL Race-Norming Deal
The attorney representing former NFL players when the league pledged to stop using "race-norming" when deciding payments from the concussion settlement was awarded nearly $1.4 million in attorney fees Tuesday by the Pennsylvania federal judge overseeing the settlement.
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July 15, 2025
Gould Sworn In As Comptroller Of Currency
Former Jones Day partner Jonathan Gould on Tuesday was sworn in as the next leader of the Office of the Comptroller of the Currency, marking his return to the agency where he spent more than two years as chief counsel.
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July 15, 2025
SEC Drops Bribery Suit Against Ex-Cognizant Execs
The U.S. Securities and Exchange Commission told a New Jersey federal court Tuesday that it will drop its lawsuit against the former president and chief legal officer of Cognizant Technology Solutions Corp. over an alleged bribery scheme, after the U.S. Department of Justice dropped a related criminal case.
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July 15, 2025
Split 4th Circ. Rejects GenBioPro Abortion Ban Challenge
A split Fourth Circuit panel on Tuesday rejected GenBioPro's challenge to a West Virginia law banning medication abortion with narrow exceptions, with the majority finding the ban does not conflict with federal regulators' statutory authority to impose safety requirements on drug manufacturers.
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July 15, 2025
3rd Circ. Backs FAA's Civil Penalty Actions Post-Jarkesy
The Third Circuit on Tuesday backed the Federal Aviation Administration's adjudicatory authority to impose civil penalties for air safety rules violations, saying in a precedential ruling that the U.S. Supreme Court's Jarkesy decision doesn't entitle a paint supplier to a jury trial in a case stemming from a leaky paint can on a FedEx plane.
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July 15, 2025
FCC Hunts For Customer Info On Cellcom Network Outage
Regional wireless service provider Cellcom's mid-May network outage has prompted a public inquiry by federal regulators who want to know how customers handled their inability to make or receive texts and calls.
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July 15, 2025
FDIC Floats Rule 'Indexing' Plan In Deregulatory Blitz
The Federal Deposit Insurance Corp. has unveiled plans to begin automatically raising dollar thresholds used to determine which compliance requirements apply to banks, part of a broader raft of deregulatory measures that agency leaders advanced on Tuesday.
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July 15, 2025
EPA Defends Ending Enviro Justice Grants
The U.S. Environmental Protection Agency has asked a federal judge to dismiss a proposed class action filed by environmental groups, a Native American village and other local governments, alleging the EPA unlawfully stopped $3 billion in climate grant funding.
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July 15, 2025
BofA Says $657M Payment To FDIC Should End Premiums Suit
Bank of America and the FDIC are at odds over how to calculate the prejudgment interest rate on a $540 million payment the bank was ordered to pay in a case over underpaid deposit insurance assessments, with the bank arguing its recent payment of over $657 million satisfies its obligation.
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July 15, 2025
FTC Still Bans Ex-Pioneer CEO From Exxon Board, For Now
If the current Federal Trade Commission upends Biden-era Democrats' ban on the former CEO of Pioneer from serving on Exxon's board, it will be on the now-Republican-led commission's own volition rather than through a petition by the executive.
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July 15, 2025
FCC Drops 'Single Seller' Marketing Reg After 11th Circ. Ruling
The Federal Communications Commission has plucked from the books a rule requiring individual consumer consent for companies to contact customers through comparison shopping sites after the Eleventh Circuit declared the regulation an overstep.
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July 15, 2025
Betting Site Polymarket Says Feds Have Dropped Probe
Federal prosecutors have ended an investigation into the betting site Polymarket without taking any action against the platform, the company's CEO said in a social media post Tuesday.
Expert Analysis
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GM Case Highlights New Trends In AI-Related Securities Suits
Bold company statements about artificial intelligence have resulted in a rise in AI-related securities litigation, and a recent Michigan federal court decision in In Re: General Motors Co. Securities Litigation illustrates how courts are analyzing these AI-based claims and applying traditional securities concepts to new technologies, say attorneys at Cooley.
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DOE Grant Recipients Facing Termination Have Legal Options
Federal grant recipients whose awards have recently been rescinded by the U.S. Deparment of Energy have options for successfully challenging those terminations through litigation, say attorneys at Bracewell.
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Attacks On Judicial Independence Tend To Manifest In 3 Ways
Attacks on judicial independence now run the gamut from gross (bald-faced interference) to systemic (structural changes) to insidious (efforts to undermine public trust), so lawyers, judges and the public must recognize the fateful moment in which we live and defend the rule of law every day, says Jim Moliterno at Washington and Lee University.
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A Look At Texas Corp. Law Changes Aimed At Dethroning Del.
Seeking to displace Delaware as the preferred locale for incorporation, Texas recently significantly amended its business code, including changes like codifying the business judgment rule, restricting books and records demands, and giving greater protections for officers and directors in interested transactions, say attorneys at Fenwick.
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OCC's Digital Embrace Delivers Risk, Opportunity For Banks
As the Office of the Comptroller of the Currency continues to release and seek more information on banks' participation in the crypto-asset arena, institutions may see greater opportunity to pursue digital asset and custody services, but must simultaneously educate themselves on transformations occurring throughout the industry, says Kirstin Kanski at Spencer Fane.
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Justices Hand Agencies Broad Discretion In NEPA Review
By limiting the required scope of reviews under the National Environmental Policy Act, the U.S. Supreme Court's recent ruling in Seven County Infrastructure Coalition v. Eagle County could weaken the review process under NEPA, while also raising questions regarding the degree of deference afforded to agencies, say attorneys at Foley Hoag.
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Remediation Still Reigns Despite DOJ's White Collar Shake-Up
Though the U.S. Department of Justice鈥檚 recently announced corporate enforcement policy changes adopt a softer tone acknowledging the risks of overregulation, the DOJ has not shifted its compliance and remediation expectations, which remain key to more favorable resolutions, say Jonny Frank, Michele Edwards and Chris Hoyle at StoneTurn.
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Compliance Refresher For 'Made In USA' Labeling Claims
As tariffs reshape the trade landscape, companies hoping to invoke the powerful consumer appeal of 鈥淢ade in USA鈥 labels must understand the strict rules for making acceptable claims so they avoid the costly legal ramifications and brand damage possible from misrepresenting products as 100% American, say attorneys at Morgan Lewis.
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4 Strategies For De-Escalating Hospitality Industry Disputes
As recent uncertainty in the travel business exacerbates the risk of conflict in the hospitality sector, industry in-house counsel and their outside partners should consider proactive strategies aimed at de-escalating disputes, including preserving the record, avoiding boilerplate clauses and considering arbitration, say Randa Adra at Crowell and Stephanie Jean-Jacques at Hyatt.
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Series
Law School's Missed Lessons: Appreciating Civil Procedure
If you鈥檙e like me, law school鈥檚 often complex and theoretical approach to teaching civil procedure may have contributed to an early struggle with the topic, but when seen from a practical perspective, new lawyers may find they enjoy mastering these rules, says Chloe Villagomez at Foster Garvey.
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Calif. Bar Exam Fiasco Shows Why Attys Must Disclose AI Use
The recent revelation that a handful of questions from the controversial California bar exam administered in February were drafted using generative artificial intelligence demonstrates the continued importance of disclosure for attorneys who use AI tools, say attorneys at Troutman.
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The State Of Play For Bank Merger Act Applications
Both the Office of the Comptroller of the Currency's recent reversal of changes to its bank merger policies and the Federal Deposit Insurance Corp.'s rescission of its 2024 statement may be relevant for all banks considering a transaction, as responsibility for review depends on the identity of the parties and the transaction structure, say attorneys at Davis Polk.
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Del. Corporate Law Rework May Not Stem M&A Challenges
While Delaware's S.B. 21 introduced significant changes regarding controllers and conflicted transactions by limiting what counts as a controlling stake and improving safe harbors, which would seem to narrow the opportunities to challenge a transaction as conflicted, plaintiffs bringing shareholder derivative claims may merely become more resourceful in asserting them, say attorneys at Debevoise.
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State AGs' Focus On Single-Firm Conduct Is Gaining Traction
Despite changes in administration, both federal antitrust agencies and state attorneys general have shown a trending interest in prosecuting monopolization cases involving single-firm conduct, with federal and state legislative initiatives encouraging and assisting states鈥 aggressive posture, says Steve Vieux at Bartko Pavia.
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What Parity Rule Freeze Means For Plan Sponsors
In light of a District of Columbia federal court鈥檚 recent decision to stay litigation challenging a Mental Health Parity and Addiction Equity Act final rule, as well as federal agencies' subsequent decision to hold off on enforcement, attorneys at Morgan Lewis discuss the statute鈥檚 evolution and what plan sponsors and participants can expect going forward.