Artists have taken a preemptive legal step by suing the Securities and Exchange Commission (SEC) to address whether non-fungible tokens (NFTs) should be classified as securities. The SEC’s scrutiny of digital assets, including art, has stirred considerable concern within the art community. According to Jason Gottlieb, a partner at Morrison Cohen, the commission’s actions mark…
A former Assistant Dean at Seton Hall Law School admitted to embezzling $1.3 million from the institution. This act of theft underscores a critical issue within organizational finance controls, as highlighted by FBI Special Agent in Charge James E. Dennehy, who pointed out that “the genesis of most fraud schemes happens when people have access…
Goodwin Procter has successfully defended Nangate in a legal dispute with Silvaco, centering on a stock purchase agreement related to an acquisition. This case highlighted the complexities inherent in merger and acquisition (M&A) transactions and the importance of precise contractual language. For more details on the intricacies of the case, visit the original article here.
O’Melveny & Myers has announced the addition of Denise Scofield as a partner in its litigation and energy practice based in Houston. Scofield’s expertise lies in energy-related disputes and crisis management, with a focus on defending industrial clients in sectors such as oil and gas, chemicals, pharmaceuticals, manufacturing, and transportation. Her appointment enhances O’Melveny’s capabilities…
Winston & Strawn has announced the appointment of Robert Kerr as its new chief information officer. Kerr, who previously served as CIO at Cooley, is set to oversee a comprehensive technology transformation at the firm. His role will prominently involve leading the firm’s team of IT professionals to drive innovation and efficiency. This strategic hire…
In a landmark appointment, Maya Mandisa is set to become South Africa’s first female chief justice, marking a significant milestone in the country’s judicial history. Currently serving as the deputy chief justice, Mandisa will assume her new role on September 1, succeeding the retiring Justice Raymond Zondo. Mandisa, who was a Fulbright scholar at Duke…
The American Civil Liberties Union (ACLU) of Virginia, in partnership with the law firm Butler Curwood, has initiated legal proceedings against Liberty University for allegedly terminating an employee based on her gender identity. The lawsuit, filed in the United States District Court for the Western District of Virginia, contends that Liberty University’s actions violate Title…
Legal News Summary The Court of Appeals of Virginia on Tuesday reversed Appian Corp.’s $2 billion trade secrets judgment against competitor Pegasystems Inc. The appellate court’s decision highlighted several significant errors made by the trial court, which culminated in the largest jury award in the state’s history. As a result, a new trial has been…
In a landmark resolution for privacy rights, Meta Platforms Inc. has agreed to a $1.4 billion settlement with the Office of the Attorney General of Texas, facilitated by legal powerhouses McKool Smith and Keller Postman. The settlement addresses allegations of the unauthorized capture of personal data by the tech giant. According to Attorney General Ken…
Facebook owner Meta has agreed to pay $1.4 billion to the state of Texas to settle claims that the company harvested millions of citizens’ biometric data without proper consent. The settlement, to be paid over five years, is the largest ever obtained from an action brought by a single US state, said a statement from…
Cleary Gottlieb Steen & Hamilton LLP successfully guided LATAM Airlines, the largest airline in Latin America, through a rare re-listing on the New York Stock Exchange (NYSE). The $460 million re-initial public offering (re-IPO) marks a significant achievement after the Chile-based carrier exited bankruptcy. The legal process was complex and underscored the critical role of…
House lawmakers are intensifying their inquiry into the Washington-based nonprofit Optica’s connection with Huawei Technologies Co., following reports by Bloomberg News that shed light on the scientific society’s extensive relationship with the Chinese telecommunications firm, which is currently under sanctions. The scrutiny aligns with Washington’s concerns about potential foreign influence operations in the U.S. research…
On Monday, the US Court of Appeals for the Eighth Circuit, in Miller v. Ziegler, ruled that a Missouri law barring state officials from becoming paid lobbyists for two years after leaving office is unconstitutional. This law, Article III, Section 2(a) of the Missouri Constitution, was introduced through a 2018 ballot initiative. It explicitly prohibited…
Lawyers specializing in corporate spinoffs are raising concerns over recent changes by the Internal Revenue Service (IRS) that impact how businesses can execute these deals tax-free. The IRS’s updated guidelines, issued through a May revenue procedure, have significantly restricted the process for obtaining private letter rulings for spinoffs. These private letter rulings have historically been…
Judiciary employees filed 17 complaints against federal judges from fiscal 2020 through 2022, according to a report by the Government Accountability Office (GAO) examining efforts to address workplace misconduct within the judicial branch. Allegations included abusive conduct, religious discrimination, and discrimination and harassment based on pregnancy. These complaints were made under the Judicial Conduct and…
DMG Media, the consumer media company of the Daily Mail and General Trust, has hired a Slaughter and May lawyer to be its next legal head. Reinhardt Biermann is currently a senior associate with the law firm’s technology practice. In 2023, he was part of the Slaughter and May team that advised DMG Media on…
In its first major pronouncement on the ethics of using generative AI in law practice, the American Bar Association (ABA) has issued Formal Opinion 512. According to the opinion, lawyers are not required to become experts in generative AI but must develop a reasonable understanding of its capabilities and limitations. This includes an awareness of…
As ILTACON 2024 looms on the horizon, the stage is set for a slew of keynotes, sessions, and exhibitions that promise to define the future trajectory of legal technology. Among the major participants this year is NetDocuments, a recognized leader in the cloud-based content management arena for legal professionals. NetDocuments’ Chief Product Officer Dan Hauck…
Thomson Reuters has recently expanded its vision for CoCounsel, its professional-grade generative AI assistant. The tool aims to unify the customer experience by integrating various Thomson Reuters product capabilities into a single platform. This transformative move is set to link the entire Thomson Reuters product portfolio, enabling legal professionals to consolidate multiple skills and workflows…
The Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are escalating their efforts to tackle the controversial issue of short selling and its potential links to insider trading. This development follows an increasing scrutiny of market activities amid heightened regulatory pressures and new incidents of alleged market manipulation. In a notable move,…
In a significant legal victory for personal injury claims, a North Carolina law firm successfully secured a $4.2 million verdict in a near-drowning case. The case highlights the crucial need for safety and vigilance in public spaces, particularly where children are involved. In a statement, the plaintiffs’ attorney, Larry Serbin, remarked, “Our goal was to…
CrowdStrike Holdings Inc.’s shares experienced a significant dip, falling to their lowest level since December, following news that Delta Air Lines Inc. employed a prominent attorney in response to a recent IT outage. The incident led Delta to cancel thousands of flights, causing substantial operational disruptions and bringing attention to the implications of cybersecurity failures…
Lewis Brisbois Bisgaard & Smith has reached a settlement with Robert Lofton, a former partner who sued the firm for discrimination. Lofton, a California labor and employment attorney, alleged that the firm engaged in a “campaign of harassment, discrimination and retaliation” following complications from a medical procedure in December 2022, which led to multiple emergency…
The Morning Read Today’s morning read on SCOTUSblog curates a selection of news articles, commentary, and other noteworthy links related to the Supreme Court. This daily feature is designed to keep legal professionals informed about the latest developments impacting the highest court in the United States. Highlights for Tuesday, July 30 include an article by…
State supreme courts are facing a growing challenge as the pay disparity between private practice and public service widens, discouraging talented potential jurists from seeking positions in public service. This trend may have significant implications for the quality and diversity of the judiciary. The National Rifle Association (NRA) is undergoing substantial changes, including a recent…