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Robert W. Killorin

The Goldman Sachs Case Could Break In A Number of Different Directions

Posted by Robert W. Killorin on 04/08/2021

On Monday the Supreme Court heard oral argument in the long-running securities class action filed in 2010 against Goldman Sachs. The case stems from a collateralized debt obligation transaction that Goldman underwrote in 2007 that lost CDO investors $1 billion. Goldman allegedly helped one client short the CDO while simultaneously selling ...

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Kristyn Fields

Shkreli, Vyera Withdraw Jury Demands in FTC Suit, as States Agree to Forego Civil Penalties/Forfeitures

Posted by Kristyn Fields on 04/07/2021

In a recently filed joint stipulation, Vyera Pharmaceuticals, its former CEO, Martin Shkreli, and other defendants agreed to withdraw their demands for a jury trial in a lawsuit brought by the Federal Trade Commission and seven state attorneys general, alleging that Shkreli and his company Vyera engaged in a scheme to protect its monopoly ...

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Joshua Nassir

U.S. SUPREME COURT LIMITS REACH OF TCPA

Posted by Joshua Nassir on 04/06/2021

The Telephone Consumer Protection Act of 1991 ("TCPA") was passed by Congress to restrict unsolicited telemarketing communications sent by businesses to consumers. The question before the Supreme Court of the United States in Facebook v. Duguid was whether the TCPA only prohibited businesses from sending calls and text messages to phone numbers ...

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Ruhandy Glezakos

Santa Clara University Defeats Claims Alleging It Failed to Provide In-Person Instruction

Posted by Ruhandy Glezakos on 04/05/2021

On March 29, 2021, Judge Lucy H. Koh of the Northern District of California dealt a major blow to the putative class action brought against Santa Clara University, where students sought a refund of tuition and fees after classes were moved online due to the COVID-19 pandemic. The case was brought by three law students alleging that the university ...

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Christopher M. Lash

DELAWARE COURT OF CHANCERY REJECTS UNREASONABLY BROAD “POISON PILL”

Posted by Christopher M. Lash on 04/02/2021

On February 26, 2021, the Delaware Court of Chancery held that a stockholder rights plan adopted during the COVID-19 pandemic by the board of directors of The Williams Companies, Inc. ("Williams" or the "Company") was unenforceable. See The Williams Companies Litigation, C.A. 2020-0707-KSJM (Del. Ch. Feb. 26, 2021). Stockholder rights plans, ...

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Patrick J. Collopy

Wynn Las Vegas Pays $5.6 Million to Resolve Tip Misappropriation Claims

Posted by Patrick J. Collopy on 03/31/2021

On March 26, 2021, the renowned casino Wynn Las Vegas agreed to pay $5.6 million to a collective of Nevada table game dealers, resolving claims that the casino improperly forced dealers to share their tips with their managers and supervisors. The settlement provides relief to approximately 1,000 current and former dealers who worked at the ...

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Michael Van Gorder

SEC Shareholder Proposal Amendments Challenged by Senate Democrats

Posted by Michael Van Gorder on 03/30/2021

On March 25, 2021, Ohio Senator Sherrod Brown, introduced a joint resolution disapproving several recent amendments to Rule14a-8, which significantly raised the holding and time requirements in order to have a shareholder's proposal included in proxy materials. Under the "Congressional Review Act", "[a] rule shall not take effect (or continue), ...

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Raymond N. Barto

Salmon Producers Face Upstream Fight as Court Denies Motion to Dismiss

Posted by Raymond N. Barto on 03/29/2021

Four of the world's largest salmon-farming companies, and several of their affiliates, must face allegations of price-fixing by a proposed class of direct purchasers, as the District Court for Southern District of Florida denied the defendants' joint motion to dismiss the claims. The direct purchasers plaintiffs allege that the defendants ...

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Taylor Crabill

The Pregnancy Workers Fairness Act Will Provide Additional Protections Related to Requests for Workplace Accommodations

Posted by Taylor Crabill on 03/26/2021

A. Current Protections Under Federal Law for Pregnant Employees Who Need Accommodations are Inadequate A pregnant employee may be able to prove that her employer discriminated against her in violation of the Pregnancy Discrimination Act ("PDA") by showing that her employer provided most non-pregnant employees with an accommodation (i.e. a ...

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Alex Hartzband

Legislation Limiting Use of Non-Compete Agreements Reintroduced in House and Senate with Bipartisan Support

Posted by Alex Hartzband on 03/11/2021

On February 25, 2021, Senators Chris Murphy (D-Conn.) and Todd Young (R-Ind.) reintroduced the "Workforce Mobility Act," which limits the use on non-compete agreements in employment. Senators Murphy and Young previously introduced the same legislation in late 2019, though with the little success. This time, however, the Workforce Mobility ...

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