The Latest
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Walmart can break off Capital One card partnership early, judge says
It won’t be easy for Walmart to find a new partner to replace Capital One, though, said Brian Riley, co-head of payments at Javelin Strategy & Research.
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SEC fines Arista Networks founder Bechtolsheim $1M for insider trading
Andreas “Andy” Bechtolsheim, who resigned as Arista chairman in December, allegedly arranged put options contracts for a relative based on non-public information about an imminent deal.
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Deere appoints chief legal officer
Kellye Walker, formerly of Eastman Chemical Company, joins as the manufacturer faces lawsuits over farmers’ rights to repair their equipment.
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Private plaintiffs follow DOJ’s Apple antitrust case with proposed class actions
The lawsuits are substantively similar to the federal government’s, making them dependent on how well the agency fares in breaking up the company’s smartphone stranglehold.
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EU wastes no time leveraging competition law to go after Apple, Meta and Alphabet
The regulatory body has launched an investigation to see if the tech companies are using their heft to give themselves a business advantage.
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Visa, Mastercard reach landmark credit card settlement
The two biggest U.S. card networks agreed to cap interchange fees for five years, among other terms, to settle merchant litigation that has lasted nearly two decades.
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SEC asks judge to green-light $2B penalty for Ripple
The crypto firm hasn’t accepted responsibility for the portion of XRP sales a judge ruled illegal in July, the SEC said. In a social post, Ripple’s CEO said the company would “expose the SEC for what they are” in a filing next month.
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Mandalorian actor’s lawsuit against Disney invokes unique California law
California Labor Code protects workers’ right to participate in political events outside of work.
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House Judiciary subpoenas As You Sow CEO, expands antitrust probe
The Republican-led committee has summoned Andrew Behar, head of the shareholder advocacy group, for a deposition later this week as part of its ongoing ESG probe.
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Report: DOJ opens criminal probe into RealPage, multiple landlords
The Justice Department also has an ongoing civil investigation into the data and software provider.
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DOJ faces tough road in Apple antitrust lawsuit
The agency points to its challenge over Microsoft 20 years ago as a legal template, but the two cases differ in important ways, antitrust specialists say.
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Department of Transportation to review privacy practices of US airlines
The review will look at how the largest 10 airlines collect, handle, maintain and use customers’ personal data.
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SEC to face all climate rule challenges in U.S. 8th Circuit Court of Appeals
The agency had nine legal challenges to its rule requiring public companies to disclose certain climate risks consolidated into one venue.
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AI-assisted inventions should be encouraged, USPTO official says
The practice comes with risks but the competitiveness of the U.S. relies on the future use of AI assistance in inventions, USPTO Director Kathi Vidal says.
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How Amazon’s legal team built a global pro bono program
Amazon GC David Zapolsky said it’s been inspiring to see members of his department provide legal support to those in need across the world.
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Azure OpenAI Service has confidentiality loophole, Legaltech News reports
A contract provision gives Microsoft the right to retain and have its employees review certain prompts, creating a problem for law firms and companies trying to protect sensitive information.
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Fortune 500 GCs are increasingly external hires, report finds
The growing remit of general counsel is prompting more large corporations to appoint seasoned legal chiefs, according to Russell Reynolds Associates.
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DOJ, state AGs sue Apple for monopolization of smart phone market
Apple has maintained monopoly power over smartphones by violating federal antitrust law, Attorney General Merrick Garland says.
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16 states have AI laws, most of them to curb profiling
Half of all states have AI laws under consideration, with profiling the biggest concern, a compilation shows.
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U.S. Bank to pay $6M to settle CFTC WhatsApp probe
The penalty comes a month after the SEC ordered the Minneapolis-based bank to pay $8 million over record-keeping failures and alleged use of off-channel communications.
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SEC fines companies $400,000 for false AI claims
Federal agencies have been raising AI washing as an issue for a year. The SEC penalties are the first enforcement actions to stop it.
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Top quarter of legal ops pros earn $240,000, survey finds
The Brightflag report also highlights there are wide pay ranges for legal operations professionals who hold similar titles.
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Federal judge dismisses $600M environmental suit against packaging co.
The judge did not believe the plaintiffs’ attorney made a convincing case that GPI and government officials harmed residents of Kalamazoo, Michigan, with toxic emissions. Now, that attorney faces possible punishment.
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How general counsel can create an integrity mindset in the executive team
Success makes business leaders more susceptible to rationalizations, so the key is to make ethics top of mind before a compromising situation occurs, a legal leader says.
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Federal appeals court pauses SEC climate rule implementation
The climate disclosure regulation is now on pause pending a review from the U.S. Fifth Circuit of Appeals, as the first of multiple challenges yields action.