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Camilo Burr

LGBTQ Rights Bill Passes House, Moves to Senate

Posted by Camilo Burr on 03/02/2021

On February 25, 2021, the House approved the Equality Act, sending it to the Senate for approval, in a 224-206 vote. Previously, a substantially similar bill passed the House in 2019, but at the time, the Republican-led Senate blocked the legislation. Like its predecessor, the bill would amend existing civil rights law – including the Civil ...

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Raymond N. Barto

Pilgrim’s Pride Pleads Guilty to Price-Fixing and Is Sentenced to $108 Million Fine

Posted by Raymond N. Barto on 03/01/2021

Pilgrim's Pride, one of the nation's largest producers of broiler chicken products, has pled guilty to one count of violating the Sherman Act. In its plea agreement with the Department of Justice, it admits that between 2012 and 2017, it participated in a conspiracy with at least one other competitor to rig bids and fix prices on broiler chicken ...

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Kristyn Fields

Topgolf Defeats Antitrust Lawsuit Over Ball-Tracking Technology

Posted by Kristyn Fields on 02/26/2021

Earlier this month, a Texas federal judge dismissed an antitrust lawsuit against Topgolf International Inc. brought by a rival startup, SureShot Golf Ventures Inc. The lawsuit alleged that Topgolf monopolized the market for golf simulation centers by acquiring tech company Protracer, which supplied the golf ball tracking technology that SureShot ...

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Megan Remmel

Federal Reserve Chairman Announces That Creating A Digital Dollar Is A High Priority

Posted by Megan Remmel on 02/25/2021

On February 23, 2021, the Federal Reserve Chairman, Jerome Powell, told the Senate Banking Committee that the Federal Reserve is "looking carefully" into whether the central bank should issue a U.S. digital dollar. "This is something we're investing time and labor in right across the Federal Reserve System," Powell said, calling it a "very ...

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Maxwell Michael

Ninth Circuit Partially Reverses Dismissal Of Impax Laboratories Shareholder Suit Based On Loss Causation

Posted by Maxwell Michael on 02/09/2021

On January 11, 2021, the Third Circuit issued a ruling in N.Y. Hotels Trades Council & Hotel Association of NYC Inc. Pension Fund et al. v. Impax Laboratories, Inc., et al., No. 19-16744 (9th Cir. Jan. 11, 2021) affirming in part and reversing in part the dismissal of a shareholder class action lawsuit against Impax Laboratories, Inc. ("Impax") ...

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Christopher M. Lash

NASDAQ PROPOSES RULE CHANGES REQUIRING NASDAQ-LISTED COMPANIES TO DIVERSIFY THEIR BOARDS

Posted by Christopher M. Lash on 02/08/2021

On December 1, 2020, The Nasdaq Stock Market LLC ("Nasdaq") filed proposed Rule 5605(f) (Diverse Board Representation) and proposed Rule 5606 (Board Diversity Disclosure) with the U.S. Securities and Exchange Commission ("SEC") to advance board diversity while at the same time enhance the transparency of board diversity statistics. The proposal ...

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Robert W. Killorin

After Settlement With SEC In 2010 for $550 Million, Goldman Still Running From Investors

Posted by Robert W. Killorin on 02/05/2021

In 2010 the SEC alleged that Goldman Sachs misstated and omitted key facts regarding a synthetic collateralized debt obligation (CDO) it marketed that hinged on the performance of subprime residential mortgage-backed securities. Goldman quickly settled with the SEC for a record $550 million. Also in 2010, a civil securities class action was ...

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Alex Hartzband

Biden Administration Rolls Back Trump-Era DOL Policies

Posted by Alex Hartzband on 02/04/2021

Almost immediately after taking the oath of office, President Joe Biden has begun rolling back a series of policies, rules, and opinion letters promulgated by the Department of Labor ("DOL") under former President Donald Trump. First, President Biden rescinded a Trump-era rule that limited the DOL's ability to issue and rely upon sub-regulatory ...

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Patrick J. Collopy

Google Pays $3.8 Million to Resolve Pay Bias Claims

Posted by Patrick J. Collopy on 02/03/2021

On February 1, 2021, the United States Department of Labor ("DOL") announced it reached a settlement with Google, resolving allegations of systemic pay and hiring discrimination against the technology giant. Under the terms of the settlement, Google agreed to pay $3.8 million to more than 5,500 employees and job applicants. Between 2014 and ...

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Katherine M. Lenahan

GameStop Shares Surged After Reddit-Driven Short Squeeze

Posted by Katherine M. Lenahan on 02/02/2021

GameStop's stock price soared over 400% this week after retail traders, spurred on by a Reddit message board and other online trading communities, snapped up the struggling video game retailer's shares. The GameStop frenzy has fascinated many, with the Associated Press describing it as "a head-scratching David and Goliath story" that "is playing ...

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