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Fourth Circuit Permits DOJ to Reject an FCA Settlement, But Punts Decision on Statistical Sampling

In a closely watched False Claims Act (“FCA”) case, the Fourth Circuit Court of Appeals decided that the Department of Justice (“DOJ”) has an unreviewable right to object to a proposed settlement agreement between a relator and a…more

Third Circuit Affirms Denial of Class Certification Because Expert’s Exclusion of Relevant Data From Analysis of Classwide Antitrust Impact Precluded a Finding of Predominance

The Third Circuit affirmed an order denying class certification because the plaintiffs failed to provide sufficient evidence of classwide antitrust impact, and thus, could not satisfy Rule 23(b)(3)’s predominance requirement. The…more

Lessons from November and December of 2016 That Will Help You Get Off to a Great Start in 2017

From the time that I was in elementary school through my years in law school, my grandfather always stressed the importance of getting off to a good start each new academic year. The importance of a good start is just as critical in…more

Insider Trading Around Private Placements: Was Tom Price’s Investment Down Under Above Board?

On February 10, the Senate confirmed Representative Tom Price (R-GA) as Secretary of Health and Human Services, where he will oversee the U.S. Food and Drug Administration (FDA). His nomination has not been without controversy…more

Incoming! Incoming! OFCCP Issues Corporate Scheduling Announcement Letters

On February 17, 2017, the Office of Federal Contract Compliance Programs (OFCCP) mailed Corporate Scheduling Announcement Letters (CSAL) to federal contractors and subcontractors. The purpose of these letters is to give service and…more

The Eastern District of Michigan affirms the CFPB’s broad authority to issue civil investigative demands

A recent decision from the Eastern District of Michigan in CFPB v. Harbour Portfolio Advisors, LLC; National Asset Advisors, LLC; and National Asset Mortgage, LLC serves as a reminder that the CFPB’s authority to issue a Civil…more

Update on the OCC Fintech Charter: The Current Lay of the Land

The Office of the Comptroller of the Currency (OCC) is considering allowing financial technology (fintech) companies to be chartered as special-purpose national banks. Although the planning is still at a preliminary stage, the OCC’s…more

Third Circuit Upholds Subgroup Disparate Impact Claims Under the ADEA

The Third Circuit Court of Appeals recently created a circuit split when it disagreed with prior decisions from the Second, Sixth, and Eighth Circuits regarding the Age Discrimination in Employment Act of 1967 (ADEA). In Karlo v…more

US Chamber of Commerce on Capital Formation and Disclosure Requirements

In a recent letter, the Chamber commented to the SEC’s Advisory Committee on Small and Emerging Companies about the Committee’s consideration of the factors affecting the trend of companies remaining private and deferring their IPOs…more

Saudi Arabia’s Vision 2030 – Securing PPP Value for Money and the Criticality of Monitoring and Root Cause Analyses

Introduction - Much of the PPP debate in Saudi Arabia has focussed on the importance of shifting the public sector expenditure burden to the private sector. Wherever this has been the sole focus of a PPP programme, the responsible…more

[Video]FCPA Compliance Report-Episode 308-Ben Locwin on Forecasting

In this first part of a three part series on the risk management process, noted risk management guru Ben Locwin and I visit about forecasting in the risk management process…more

Newsletter Corporate - February 2017

M&A - Balance Sheet Guarantees: German case law has recently developed new requirements for drafting Balance Sheet Guarantees in Share Purchase Agreements. If not properly drafted, such Balance Sheet Guarantees may be regarded as…more

SEC Secures Split Decision in Insider Trading Trial

The SEC received a split decision from a jury in an insider trading case that spawned three separate enforcement actions and ten different traders. The jury found in favor of the Commission and against one first tier tippee – one who…more

Google Ruling may give Government an Opening to Broaden its Power Under Outdated Stored Communications Act

As technology progresses and the world becomes even more interconnected, the scope of the Stored Communications Act (“SCA” or “Act”) has become a topic of much interest in the federal courts. One question courts have grappled with…more

California Employers Are Subject to New Requirements When Using Criminal History Information

In April 2012, the Equal Employment Opportunity Commission (EEOC) issued its long-awaited “Enforcement Guidance on the Consideration of Arrest and Conviction Records in Employment Decisions Under Title VII of the Civil Rights Act of…more

Mortgage Servicer Enters in to $225 Million Consent Order with California DBO

On February 17, 2017, the California Department of Business Oversight (California DBO) announced that it had entered in to a $225 million consent order with a national mortgage servicer following an investigation by a third-party…more

[Video]Day 16 of One Month to a Better Board-the Board and Succession Planning

Yesterday, I considered the Board of Director’s role in hiring of senior executives and in other key positions and corporate positions and corporate relationships. Today I want to consider the Board’s role in succession planning. In an…more

Alaska Creates Exception to General Rule that Injured Party Cannot Sue Insured’s Carrier

The Supreme Court of Alaska in Burnett v. Government Employees Insurance Company, 2017 WL 382648 (Alaska 2017) recently decided in a 3-2 decision that an insurer who voluntarily assumed the responsibility for cleaning up an oil spill…more

Desperately Seeking HPLs: Lateral Recruiting as Law Firm Growth Strategy

The market is ripe for lateral acquisitions—law firms just need to be listening for where the opportunities may lie…more

OCC Establishes New Third-Party Risk Management Expectations, Including for Bank Relationships With Marketplace Lenders

The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties. On January 24, the Office of the…more

Your Daily Dose of Financial News

Activist investor Carl Icahn has taken a sizeable stake in Bristol-Myers Squibb, a move that reportedly caught execs at the drugmaker unawares and sets the stage for a potential sale…more

New lending opportunities for EU Alternative Investment Funds in Italy

On 23 December 2016, the Bank of Italy supplemented the regulation on the collective investment management (the "Regulation") which, inter alia, implements article 46-ter of Legislative Decree. n. 58/1998 ("Consolidated Financial…more

Supporting Gender Diversity in the Legal Profession: Carly Alameda’s WISE Perspective

"I want to see this group of women on the cutting edge of the evolving legal marketplace, coming up with new ideas and models for how law firms deliver better value to in-house counsel."…more

Pennsylvania Accepts Applications for Medical Marijuana Growers, Processors and Dispensaries

The Pennsylvania Department of Health will accept permit applications for medical marijuana grower/processors and dispensaries from February 20, 2017 until March 20, 2017, pursuant to its authority under the Medical Marijuana Act. The…more

Partner and Firm Profitability in 3 Steps: Plan, Monitor, Bill (Part 1)

Let’s Acknowledge It’s Permanent - The legal industry is confronted with tremendous challenges for 2017. It’s been 10 years since the great recession, and one thing we can say with certainty is that the change in our industry…more

Econ 101: If You Increase Expenses More Than You Increase Revenue, Profits Will Be Lower

You just can’t make this stuff up. A recent ABA Journal article, Some law firm leaders question associate pay hikes amid tepid year, caught my eye. The Peer Monitor report stated: Firms were squeezed by a perfect storm of…more

Chinese Government Releases Draft Rules to Implement Cyber Security Law

China's 2015 State Security Law, which substantively amended and supplemented its first version issued in 1993, lays down the foundations for cyber security review. The law provides that the state needs to build a network and…more

Whistleblower General Counsel Prevails Through Use Of Attorney-Client Privileged Information

In a seminal trial court decision, the federal court in the Northern District of California ruled in a whistleblower retaliation case that a fired general counsel of Bio-Rad Laboratories could use as evidence otherwise privileged…more

Bitcoin and Blockchain Technology Update: Research Paper

Locke Lord London Global Head of Cards & Payments Robert Courtneidge and Associate Charlie Clarence-Smith wrote a research paper on bitcoin and blockchain technology. Over the past few years, digital currencies have been gaining…more

DC Circuit Grants CFPB’s Petition for Rehearing En Banc in PHH Case

On February 16, the U.S. Court of Appeals for the D.C. Circuit entered an order granting the Consumer Financial Protection Bureau’s (CFPB) petition for rehearing en banc in the PHH Corporation, et al., v. Consumer Financial Protection…more

SEC Announces Enforcement Action for Failure to Disclose Banker Fee Arrangements

On February 14, 2016, the SEC settled an enforcement action against CVR Energy for providing misleading disclosure about the fees payable to CVR’s two financial advisors in connection with CVR’s defense of a hostile tender offer by…more

The Devil's Dictionary of Bankruptcy Terms: Venue

The "Devil's Dictionary" is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary and used in today's bankruptcy arena…more

OFCCP Issues Updated “Pay Transparency” Notices

Although the Office of Federal Contract Compliance Programs has not announced a requirement that contractors update their Pay Transparency Nondiscrimination Provision, the agency has updated its required posters and language. The…more

Mastercard Win Over Retailers for “Interchange Fees”

Mastercard has won a victory against a group of UK retailers, including Morrisons, who had brought proceedings against it for damages for breaches of European Union and United Kingdom competition law. The claimant retailers contended…more

TechConnect Conference Will Include Panel on Safety and Innovation as Partners for Success in Advanced Manufacturing

The TechConnect World Innovation Conference and Expo, which will be held May 14-17, 2017, in Washington, D.C., will include a panel discussion on May 16, 2017, on “Safety and Innovation as Partners for Success in Advanced…more

Vladis Dombrovskis Gives Speech on the International Financial System

The European Commission has published a speech given by Vladis Dombrovskis, European Commissioner for Financial Stability, Services and Capital Markets Union, on February 10, 2017. Amid general concerns about the state of both European…more

[Audio]Podcast: Alissa Lipton and Jeffrey Jacobstein on Obviousness-Type Double Patenting

Obviousness-type double patenting is a judicially-created doctrine designed to prevent a patent owner from applying for a second patent which isn’t “patentably distinct” from the claims of a first patent. In many cases…more

B.C. Court of Appeal Denies Class Certification of Environmental Nuisance Claim

On February 15, 2017, the B.C. Court of Appeal issued its decision in Baker v. Rendle (Baker) denying class action certification in a case about nuisance claims against industrial operations. Baker lends further weight to the view that…more

Tax Court Puts Brakes on Recent Trend Limiting Religious/Non-Profit Exemptions

In a recent tax court case, Holy Trinity Baptist Church v. City of Trenton (Docket No. 015909-2014, February 2, 2017), the court overturned the findings of the County Board of Taxation and upheld the tax exemption for…more

The Top Ten Things You Should Know About UK Employment Law

What 2016 lacked in employment law changes, it made up with political surprises (Brexit) and sweeping data protection changes (the GDPR). Due to these dynamic changes and in anticipation of what lies ahead, our UK employment team…more

States Consider 51 Bills to Restrict Chemicals in 2017

So far in the 2017 legislative cycle, 16 state legislatures are considering 51 bills seeking to restrict or otherwise regulate chemicals, just 8 months after sweeping changes to the federal Toxic Substances Control Act (TSCA) were…more

D.C. Circuit Grants Rehearing in PHH Case

On Thursday, February 16, 2017, the D.C. Circuit granted the Consumer Financial Protection Bureau’s (CFPB) petition for rehearing en banc in PHH Corporation v. Consumer Financial Protection Bureau. The Order marks the latest twist in…more

What is the Current Status of OSHA’s Injury and Illness Reporting Rule?

As we previously reported on this blog, OSHA recently made sweeping changes to its injury and illness reporting rule. The agency delayed enforcement of the rule until December 1, 2016. Many industry advocates were hoping for a…more

Second Circuit Holds That Minority Bondholders Cannot Avail Themselves of the Trust Indenture Act

While out-of-court restructurings can help companies in need, they can negatively impact minority bondholders. Minority bondholders displeased with out-of-court restructurings looked to a 2015 decision interpreting the Trust Indenture…more

SCOTUS Hearing Arbitration Case Wednesday; Spotlight On State Cases

While the Supreme Court has put off hearing a more contentious arbitration case until the fall (presumably in hopes that it will have nine justices by then), tomorrow it will hear the nursing home arbitration case from Kentucky. I…more

BuzzFeed Faces $11 Million in Defamation Suit by British News Agency

BuzzFeed, the popular independent digital media company, was hit with an $11 million defamation suit in January 2016 by journalist Michael Leidig and Central European News (“CEN”). Leidig and CEN are demanding more than $11…more

Trump Taps Alex Acosta for New Department of Labor Secretary

As readers of this blog are aware, President Trump originally chose Andrew Puzder, the CEO of CKE Holdings, the parent company of Carl’s Jr. and Hardee’s, as his Secretary of Labor. However, on February 15, 2017, one day prior to his…more

Will In-House Attorneys Reach for their Whistles?

The news is full of stories about whistleblowers collecting millions from their former employers. Surely at least a few in-house lawyers fantasize about that kind of payday. After all, who knows better than an in-house lawyer where…more

Employees Bound By Non-Compete By Clicking On Box To Accept Stock Grants

Employees at payroll processing giant ADP were held to the terms of a non-compete contained in online stock award documents when they clicked the “I have read and agreed” button in order to receive stock grants. On February 7, 2017…more

Trump Temporarily Tables Effective Date of the New Episode Payment Model Rule – But No Change to July 1, 2017 Implementation

As mandated by the Trump Administration’s regulatory review policy, CMS is delaying the effective date of its January 3, 2017 final rule establishing mandatory Medicare episode payment models (EPM) for acute myocardial infarction…more

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