The Centers for Medicare & Medicaid Services (CMS) had released a final rule on November 2, 2023, which details how the agency plans to remedy underpayments from 2018 to 2022 for drugs acquired through the 340B Drug Pricing Program. The final rule will become effective 60 days after its publication in the Federal Register. The…
The Centers for Medicare and Medicaid Services (CMS) put forth the contract year 2025 proposed rule for Medicare Advantage (MA) organizations and Part D sponsors on November 6, 2023. This comprehensive proposal, addressed in analysis published by Sheppard Mullin Richter & Hampton LLP, covers numerous regulatory topics. Critical issues such as the Star Ratings program,…
Recently, concerns have been growing among General Counsels (GCs) of major corporations and law firms in reaction to the rise of associate pay. Fears are escalating that the increasing remuneration could have a knock-on effect, triggering a spike in billing rates. As compensation packages for associates continue to rise in a bid to retain talent,…
In a recent development, the Boston Beer Corporation has instituted a lawsuit in the Massachusetts state court against a former employee and his currently employer, Downeast Cider House LLC. Boston Beer contends that the defendants are illegally using its trade secrets, thereby engaging in unfair competition and rerouting business opportunities towards Downeast. They are seeking…
The U.S. Department of Labor (DOL) has recently proposed a series of changes to the regulation defining nondiscretionary fiduciary advice, as well as the exemptions for conflicts and the compensation for investment recommendations to retirement plans, participants (including rollovers), and IRAs. Notably, the new fiduciary rule includes significant changes specifically related to Fixed Indexed Annuities…
In the vast majority of litigation, the party that files the lawsuit, commonly recognized as the plaintiff, shoulders the burden of proof to substantiate their claims for which they are requesting compensation from the Court. This is according to a recent post from JD Supra, which sheds light on burden of proof and its dynamics…
In a notable case, O’Leary v. Unemployment Compensation Board of Review (No. 775 C.D. 2022), the Commonwealth Court of Pennsylvania has overturned the Unemployment Compensation Board of Review’s decision to deny a worker unemployment benefits following judgment that the employee’s unexcused absence due to sickness was not deemed willful misconduct. The worker had previously exhibited…
Hogan Lovells, a prominent law firm, acted pro bono in 2023, representing two former British soldiers who were serving in the Ukrainian military and are pressing war crime charges against the Russian Federation. Shaun Pinner and Aiden Aslin are seeking compensation for physical and psychological torture endured during the siege of Mariupol. This humanitarian action…
As a government contractor in New York, observing transparency, impartiality, and avoiding conflicts of interest are paramount. This adherence to ethical and legal guidelines laid down by the state government ensures that your business is both compliant and adroit in securing contractual awards. Six areas, in particular, are worthy of close attention, especially when dealing…
In an unconventional move, law firm Milbank LLP has announced that their associates will both get raises and bonuses. This step is thought to be in response to the exceptional demands and unique working conditions experienced globally due to the COVID-19 pandemic. An increase in salary is not new within the law industry. However, the…
Professor Len Rubinowitz, a 78-year-old faculty member of Northwestern University’s Pritzker School of Law, has filed a lawsuit against his employer alleging age discrimination in pay raises. The legal battle brings to the spotlight broader issues of purported inequality and discrimination within the legal profession. Rubinowitz’s lawsuit, details instances of relative disparity in his salary…
Baltimore’s former top prosecutor, Marilyn Mosby, was convicted on perjury charges by a federal jury in Maryland. The jury found her guilty of falsifying financial duress claims to withdraw from a retirement fund. Convictions on two federal perjury counts were handed down by the US District Court of Maryland after Mosby falsely represented financial hardship…
In the midst of crowded streets and rush hours, a car accident may occur without forewarning, changing one’s life forever. Health consequences may range from severe brain trauma to paralysis and, in extreme cases, wrongful death. For victims located in Florida, the law ensures their rights to receive compensation for both their tangible losses and…
The Internal Revenue Service has issued the cost-of-living adjusted qualified retirement plan and welfare plan limitations to be effective from January 1, 2024. The adjustment aims to ensure that the purchasing power of retirement benefits does not decrease due to annual price increases. The parameters for these adjustments include different figures relative to employee compensation,…
In a move that signifies confidence in the 2024 outlook, despite unpredictable client demand and volatile transactional work, Milbank has recently announced an increase in first-year associate salaries to $225,000. This increment of $10,000 effectively sets a new standard for legal compensation in a sector that has seen only modest financial growth in recent times….
In the latest installment of a series covering artificial intelligence, Aaron Erickson from NVIDIA joined Natasha Allen in the ninth episode to share his insights on the direction that generative artificial intelligence is headed. Erickson, a high-ranking executive at NVIDIA, shared a glimpse into where the world of AI, and specifically Legal Language Models (LLMs),…
On November 9, 2023, Refresco Beverages U.S. Inc. took measures to report a significant data breach to the Attorney General of Maine. The breach involved an unauthorized party gaining access to significant sections of the company’s computer network. The full report can be viewed here. Refresco Beverages provided a detailed account in their breach notification,…
In an interesting turn of events, the Delaware Court of Chancery approved a reduced fee award for a derivative settlement associated with allegations of breach of fiduciary duty and unjust enrichment. The settlement, recently reviewed in the case Sciabacucchi v. Howley, C.A. No. 2021-0938-LWW (Del. Ch. July 3, 2023), was brought forward by a stockholder…
In an interesting development, recent cases from the Ontario Superior Court of Justice (the “Court”) brought into focus disagreements in commercial real estate settlings that revolve around the notion of specific performance—an area traditionally deemed as an “extraordinary” remedy. The term “extraordinary” has often been used in the legal scene to describe specific performance due…
In a significant development, Apple has agreed to pay $25 million to settle claims of employment discrimination based on citizenship, as announced by the US Department of Justice (DOJ) earlier this week. The settlement agreement brings a close to the DOJ’s investigation by its Immigration and Employee Rights Section into Apple’s alleged discriminatory hiring and…
Earlier this week, Milbank’s refreshing compensation scale for associates took the Biglaw community by surprise, and the industry is now reflecting on its impact. So far, no other firm has successfully matched Milbank’s new scale, yet it’s likely that some firms will be compelled to reassess their compensation strategies. Here are five key factors for…
In the evolving landscape of the legal profession, financial considerations often prompt significant changes. The recent pay raise implemented by esteemed firm Milbank is no exception and has set a new precedent within the industry. The essential question now is how many law firms will follow suit with similar increases to their own remuneration packages….
The question on many minds within the legal industry today: will elite Biglaw firms match Milbank’s recent salary increase or could there be a firm raising the stakes even higher? As per comments given by law firm management consultant Kent Zimmermann to the American Lawyer, if all other firms chose not to enact salary raises,…
In this week’s Law360 Legal Lions, Hagens Berman Sobol Shapiro LLP, Winston & Strawn LLP, and Spector Roseman & Kodroff PC emerge as the leaders due to a significant ruling by a Californian judge. The ruling certified three classes of athletes who are challenging the National Collegiate Athletic Association’s (NCAA) restrictions on their name, image,…
Fox Corp. has appointed a new chief legal and policy officer, Adam Ciongoli, who is set to receive a total compensation package of roughly $28 million. Ciongoli, formerly general counsel for Campbell Soup Co., brings to Fox significant conservative legal credentials. His term begins on Dec. 1 as he takes the baton from Viet Dinh,…