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Kristyn Fields

Court Plucks Unjust Enrichment Claims from Turkey Price-Fixing Suit

Posted by Kristyn Fields on 10/29/2020

On October 26, 2020, an Illinois federal judge tossed unjust enrichment claims and some state claims in the proposed class action brought by an indirect purchaser of turkey products against turkey wholesalers, including Perdue, Tyson, and others, accusing them of illegally trading confidential information to limit supply of turkeys and inflate ...

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Dillon Hagius

SEC Charges John McAfee With Securities Fraud

Posted by Dillon Hagius on 10/28/2020

The Securities and Exchange Commission ("SEC") recently charged infamous celebrity businessman John McAfee with the fraudulent promotion of cryptocurrencies in several initial coin offerings. The complaint alleges that McAfee was paid over $23 million to make false and misleading statements that pumped the value of "virtually worthless" cryptocurrencies ...

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Richard W. Gonnello

Andeavor LLC Fined $20 Million For Controls Violations Related To Stock Buyback Plan

Posted by Richard W. Gonnello on 10/27/2020

On October 23, 2020, the Securities and Exchange Commission ("SEC") announced a $20 million settlement with Andeavor LLC for "controls violations relating to a stock buyback plan it implemented while it was in [confidential] discussions to be acquired by Marathon Petroleum Corp. in 2018." By way of background, a stock buyback "occurs when ...

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Michael Van Gorder

SEC Rule Amendments Add Additional Hurdles for Shareholders

Posted by Michael Van Gorder on 10/26/2020

Recently, the SEC adopted amendments to its shareholder proposal rule, Rule 14a-8, in order to "facilitate engagement among shareholder-proponents, companies and other shareholders, including preserving the ability of smaller shareholders to access the proxy statements of the companies in which they have demonstrated a continuing interest." ...

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David Felderman


Posted by David Felderman on 10/19/2020

On October 13, 2020, Pilgrim's Pride Corporation ("PPC") announced that it had entered into a plea agreement with the Antitrust Division of the U.S. Department of Justice ("DOJ") with respect to the DOJ's investigation into the sales of broiler chicken products in the United States. PPC agreed to pay a $110.5 million fine after striking a ...

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David Calvello

New Congressional Report Concludes Amazon, Apple, Facebook, and Google Have Monopoly Power and Suggests Regulation is Forthcoming

Posted by David Calvello on 10/14/2020

A recent report from Democratic congressional lawmakers concludes that four United States tech companies—Amazon, Apple, Facebook, and Google—have engaged in anticompetitive conduct to obtain monopoly power in their respective fields. Specifically, Amazon dominates the online retail market, Apple dominates the mobile operating system market, ...

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Patrick J. Collopy

New York Sick Leave Law Takes Effect

Posted by Patrick J. Collopy on 10/12/2020

As of September 30, 2020, employees throughout the Empire State can begin earning paid sick leave in accordance with the New York Sick Leave Law ("NYSLL"). Under the NYSLL, employees accrue sick leave at a rate of one hour for every 30 hours worked and have the right to earn up to 56 hours of paid sick leave per year, depending on the income ...

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Raymond N. Barto


Posted by Raymond N. Barto on 10/08/2020

After sunsetting earlier this year, the Antitrust Criminal Penalty Enhancement and Reform Act (ACPERA) is now the law of the land again. Under the Department of Justice's Corporate Leniency Policy, antitrust conspirators that are the first to report anticompetitive conduct and cooperate fully with the DOJ can avoid criminal charges and pay ...

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Alex Hartzband

Five Employment Law Questions Debate Moderators Should Ask the Candidates for Vice President

Posted by Alex Hartzband on 10/07/2020

On Wednesday, October 7, 2020, Vice President Mike Pence and Senator Kamala Harris are scheduled to appear for their first and only debate of the election cycle. Given the advanced age of the presidential candidates, as well as President Trump's recent positive test for COVID-19, the upcoming vice presidential debate has taken on increased ...

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Christopher M. Lash


Posted by Christopher M. Lash on 10/06/2020

Since the summer of 2020, corporations and boards of directors have seen an increase in various shareholder derivative lawsuits premised on lack of diversity in leadership across a wide range of personal characteristics. A common theme within these lawsuits is that the organization publicly misled shareholders by touting the organization's ...

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