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Christopher M. Lash

CEO PAY CONTINUES TO RISE, WILL SHAREHOLDERS STOP IT?

Posted by Christopher M. Lash on 03/10/2021

On February 25, 2021, As You Sow, a non-profit that strives to promote social corporate responsibility through shareholder advocacy, released their seventh annual report entitled The 100 Most Overpaid CEOs. According to the report, executives at some of the world's largest companies pulled in record compensation for the fifth straight year, ...

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David Calvello

Senator Klobuchar Introduces New Antitrust Bill that May Spell Trouble for Tech Giants

Posted by David Calvello on 03/09/2021

Last year, Congress made it clear that tech giants such as Apple, Facebook, and Google will face growing antitrust scrutiny. In October 2020, the Department of Justice sued Google for alleged anticompetitive tactics, such as using tying arrangements that force preinstallation of Google's search applications on mobile devices. And now United ...

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James M. Wilson, Jr.

Will Biden’s SEC Adopt A Uniform Set Of Rules Directing Public Companies To Enhance Climate-Related Disclosures?

Posted by James M. Wilson, Jr. on 03/08/2021

Acting SEC Chair Allison Herren Lee (a Trump appointee to the SEC who was designated as acting chair by President Biden until his nominee Gary Gensler - known in the industry as the "Money Cop" – is confirmed) directed SEC staff at the Division of Corporation Finance to "enhance its focus on climate-related disclosures in public company ...

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Daniel Weiss

SEC URGES ADDITIONAL RISK DISCLOSURES FOR “MEME STOCKS”

Posted by Daniel Weiss on 03/05/2021

In the wake of the Game Stop trading frenzy fueled by a social media meme, the SEC has posted new guidance for companies facing unusual periods of extreme price volatility in their securities, such as so-called "meme stocks." The guidance, posted on Monday, February 8, essentially asks companies to put potential investors on notice that a ...

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Robert W. Killorin

In Goldman Case, DOJ Reaffirms The Important Role That Securities Class Actions Play And Recommends That Case Be Remanded For Further Consideration

Posted by Robert W. Killorin on 03/04/2021

The closely watched Goldman securities case is set for oral argument before the U.S. Supreme Court on March 29, 2021. It has been a long time coming. The case began approximately eleven years ago when it was alleged that Goldman lied to its investors by claiming to put customers' interests before those of banks in a completely conflicted situation, ...

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Maxwell Michael

Eastern District Of Pennsylvania Denies In Part COVID-19 Securities Class Action Motion To Dismiss

Posted by Maxwell Michael on 03/03/2021

On February 16, 2021, Eastern District of Pennsylvania Judge Gerald J. Pappert issued a ruling in McDermind v. Inovio Pharmaceuticals, Inc., No. 20-01402 (Feb. 16, 2021) denying in part and granting in part the dismissal of a shareholder class action lawsuit against Inovio Pharmaceuticals, Inc. ("Inovio") for violations of Section 10(b) of ...

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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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Camilo Burr

500,000 NYC Subway Riders Join Lawsuit Against MTA Over Accessibility

Posted by Camilo Burr on 02/27/2021

Earlier this week, a State Supreme Court Judge in New York ruled in favor of allowing 500,000 New York City subway riders to join a lawsuit filed against the Metropolitan Transit Authority ("MTA") on behalf of a coalition of accessibility rights advocates. The lawsuit, which was filed in 2017, alleges that the MTA violated the Americans with ...

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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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