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Russian court orders seizure of nearly $440M in JPMorgan funds
The ongoing legal battle between state-owned VTB Bank and the largest U.S. bank revolves around funds frozen in the wake of Russia’s invasion of Ukraine and subsequent sanctions.
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FTC approves nationwide noncompete ban
In a difference from the proposed rule, senior executives subject to a noncompete agreement today will remain subject to it; the ban will apply to executives going forward.
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Chamber of Commerce sues to block FTC noncompete ban
The agency exceeded its authority in enacting the rule, the business group says in a complaint that asks the rule be vacated and the FTC enjoined from enforcing it.
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DOL will raise overtime salary threshold to $44K in July, $59K next year
The final rule expands overtime pay eligibility to millions of U.S. workers, the department said.
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Pulling back from HSR antitrust review cost company $23M
The Department of Justice wouldn’t approve the deal without changes all sides could accept, leaving the company on the hook for a big contract termination fee.
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HeadSpin founder Lachwani sentenced to 18 months in prison for fraud
The former CEO of HeadSpin — ordered to pay a $1 million fine — faces a July hearing focused on compensating bilked investors.
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FTC sues to block Tapestry’s $8.5B acquisition of Capri Holdings
The commission alleges the deal prevents competition between brands at both companies and gives Tapestry a dominant share of the “accessible luxury” handbag market.
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Hydrox planning antitrust lawsuit against Oreo parent Mondelēz
The cookie’s owner, Leaf Brands, accuses the snacking giant of intimidating retailers and instructing workers who restock shelves to hide, misplace or move Hydrox to less desirable locations.
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Jabil CFO steps up as CEO is placed on paid leave
The manufacturer’s CFO is stepping into the interim CEO seat after Jabil struggled with “revenue headwinds” amid an ongoing restructuring and cost realignment plan.
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Cyber insurance gaps stick firms with millions in uncovered losses
An analysis of 101 breaches across various sectors revealed insurance gaps resulting in an average of $27.3 million in uncovered losses per incident.
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How to negotiate higher in-house compensation
Despite what the hiring manager says, there’s often more money available if a company wants to hire you, in-house legal specialists say.
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Opinion
Top 10 pet peeves for in-house litigation counsel
Budget surprises, a failure to communicate at inflection points and vague billing entries are among the outside counsel practices that make life hard for in-house litigation counsel.
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Tesla taking novel approach to get $56B Musk pay back on track
The company is relying on a Delaware law that allows for corrections to board decisions marred by technical errors.
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Opinion
From hype to implementation: Tracking GenAI’s impact on the practice of law
Legal departments are developing guidelines to ensure standards around safety, accountability, privacy, scientific practice and business are upheld as AI moves into the mainstream.
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TD faces investor angst over anti-money laundering probe
CEO Bharat Masrani said the bank has made strategic hires to improve its AML compliance and reassured investors of TD's "robust" bench of leaders.
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JPMorgan, Russia’s VTB Bank sue each other
VTB sued JPMorgan in Russia to regain access to assets frozen due to sanctions violations. JPMorgan countersued, saying VTB breached a 2008 agreement to handle any issues in New York.
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Orthofix replaces legal chief, grapples with control weaknesses
The new chief legal officer is joining the company as it faces a fresh set of headwinds related to its internal control over financial reports.
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CEOs, CFOs can’t get non-prosecution agreement under DOJ pilot
Criteria released by the Department of Justice April 15 lets corporate executives know if they stand a good chance of avoiding charges for coming forward with misconduct allegations.
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‘An incredible undertaking’: 5 takeaways from Philips consent decree
Under the agreement, the FDA will use rare powers to require repairs, replacements or refunds for recalled respiratory machines.
Updated April 17, 2024 -
Crocs shrinking shoes lawsuit to move forward
The footwear company had asked the court to dismiss a class action lawsuit that accused it of false advertising and misrepresentation.
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Column
Coming Live Nation antitrust suit suggests DOJ got it wrong last time
Critics have said the Department of Justice should have broken up Live Nation when it looked at its 2010 merger with Ticketmaster. A reported lawsuit that’s coming could try to make that happen.
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CFPB late-fee cap nears despite court battles
Despite an industry-backed lawsuit seeking to stop the Consumer Financial Protection Bureau’s new $8 late fee rule, bank card issuers are bracing for potential implementation.
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Staffing firm BaronHR pays $2.2M to settle claims it acquiesced to biased client requests
The company steered candidates toward certain positions based on sex and rejected certain applicants based on race and national origins, EEOC alleged.
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NYCB hires former OCC counsel to take legal chief role
The beleaguered Long Island-based lender brought aboard four executives Friday whose careers had crossed paths with that of newly minted CEO Joseph Otting.
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Certify to accuracy but otherwise no AI disclosure needed, patent office says
Disclosure would be needed if AI use is material to the patentability of something, the agency says in its latest AI guidance.