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OpinionKnowing how to push back is key to negotiating commercial agreements
If you care about five points, try to push back on at least eight matters. That provides room to give in on the three or four extraneous items.
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Women eclipsed men in Fortune 500 GC appointments last year
The ethnic diversity of legal chief selections at large companies also rose to a record level in 2022, according to a Russell Reynolds Associates report.
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SVB Financial says FDIC has $2B of its cash
It likely won't have access to the cash, which would be used to pay back creditors, for months.
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EEOC raises fine for notice-posting violations to $659
Employers must place notices where workers will see them — often at a physical location, online or both, according to the agency.
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FTC strikes again on noncompetes
The Federal Trade Commission continues to challenge companies’ use of the agreements as unfair practices under Section 5 of the FTC Act.
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How legal teams are tapping flexible talent amid tight budgets
Litigation and claims management professionals are in high demand on Consilio’s TalentConnect platform, as are contracting pros.
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Software vendors race to bet on ChatGPT craze
Microsoft recently said it was planning to bring ChatGPT-like features to Microsoft 365 and Salesforce has unveiled a ChatGPT app for its Slack business messaging platform.
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Cybersecurity market confronts potential consequences of banking crisis
Bank seizures impose new challenges on vendors in every segment and may spur consolidation.
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Why legal teams got involved with the SVB response
In crisis situations, in-house counsel are often called upon to help review contracts and assist with communications.
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Keeping emotion out of trade secret theft claims
Having someone other than the CEO recommend a course of action can help the decision-making process.
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OpinionHow AI can improve modern contract management
DocuSign’s legal chief highlights that the more interconnected a contracting workflow is, the more opportunities AI has to learn from the system and accelerate individual steps.
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Preparing for DOJ’s compensation pilot without going out on a limb
Companies can show the agency they’re prepared to tie compensation to compliance while leaving the toughest details to when it’s involved in an enforcement action.
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Jury can ‘watch the watchmen,’ hear claim EEOC underpaid Black woman
The commission typically handles workplace bias claims but is uniquely not in a position to do so in this case, a judge said.
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SEC proposes cybersecurity disclosure rules for financial industry specialists
The changes would require broker-dealers and other entities to adopt written plans to minimize risk and promptly disclose major incidents.
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Rules could limit creditors’ gains if SVB parent files for bankruptcy
Regulators could use sale proceeds to help pay depositors, limiting proceeds from the sale of healthy SVB Financial Group assets, reports say.
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SVB’s parent company files for bankruptcy protection
The move will allow SVB Financial Group “to preserve value as it evaluates strategic alternatives” for venture-capital business SVB Capital and broker-dealer SVB Securities, the company said.
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Legal departments are often slow to respond, internal teams say
More enterprise employees are bypassing in-house legal teams as the quality of their interactions has declined, according to a report from Onit.
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FLSA permits employers to dock PTO for productivity shortfalls, 3rd Cir. says
Such deductions don’t run afoul of the law because they don’t reduce workers’ salaries, the appeals court said Wednesday.
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Deep Dive‘Meme stock in reverse’: SVB collapse portends new era of viral bank runs
SVB’s demise gave the banking sector a glimpse into how social media and digital banking can turn a financial institution from operational to insolvent in a matter of hours.
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Legal leaders want to get unqualified plaintiffs out of MDLs sooner
Too many claims that shouldn’t be in multidistrict litigation proceedings are said to be slowing down the process.
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Fed considers stricter capital requirements for midsize banks
Sen. Elizabeth Warren, D-MA, on Tuesday proposed a legislative route to do the same, but Republicans and even some Democrats are waiting on the Fed's review of recent bank failures.
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OpinionHow legal departments can get the most out of artificial intelligence
Once you understand that AI is not going to replace human talent, it becomes more obvious that you need the right people to get the most out of the technology.
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Former CFO sentenced in $1.9M embezzlement scheme
The California man used his position as financial chief of an auto dealership business to issue unauthorized checks to himself and pay for personal expenses with company credit cards, according to federal prosecutors.
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Was SVB CEO Becker’s $3.6M stock trade made in good faith?
The SEC’s 10b5-1 rules just changed, but even under the earlier version, the trading plans can’t be entered into while the insider possesses material nonpublic information.
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Silicon Valley Bank investors sue collapsed firm’s CEO, CFO
The proposed class action alleges the failed bank, CEO Greg Becker and CFO Daniel Beck concealed to investors the impact that high interest rates would have on the tech-focused firm’s business.
