Current Legal News for Attorneys

Antitrust & Competition

TOP STORY—S.D. Fla.: Suit alleging conspiracy to suppress stock prices was dismissed in absence of a conspiracy
November 19, 2021 | By Robert B. Barnett Jr., J.D.
A few vague emails between two firms in an otherwise lawful business relationship was not enough to “nudge the claims across the line from conceivable to plausible.” A Sherman Act claim brought by individual investors against Citadel Securities, various brokerage houses, and various clearing houses alleging that they conspired to prevent retail investors from purchasing shares of certain securities during a “short squeeze” to artificially suppres...

Banking & Consumer Finance

TOP STORY—FDIC, OCC, and Fed issue final rule on computer security incident reporting
November 19, 2021 | By Justin Marcus Smith, J.D.
The regulators said the rule is meant to give them early awareness of emerging cyber threats to individual banks and systemic cyber threats to the broader financial system. The Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Federal Reserve Board have issued a final rule that requires banks to notify their primary federal regulator within 36 hours of a computer-security incident that is reasonably lik...

COVID-19 Resources

TOP STORY—1st Cir.: No injunction pending appeal for Mass General Brigham employees denied COVID vaccine exemption requests
November 22, 2021
By Kathleen Kapusta, J.D. The employees acknowledged that Mass General Brigham granted religious or medical exemptions to at least 234 employees. Mass General Brigham employees failed to convince the First Circuit to issue an injunction pending appeal of a district court’s denial of their request for preliminary injunctive relief against MGB’s application of its mandatory COVID-19 vaccination policy to them individually. Noting that the employees...

Healthcare

TOP STORY—S.D.N.Y.: Maximum Strength Robitussin® label could have plausibly misled purchasers under consumer protection laws
November 19, 2021 | By Sara Cracau, J.D.
Label for Maximum Strength Robitussin, which contained a lower concentration of one of the active ingredients than that of Regular Strength Robitussin, was plausibly deceptive where purchasers were charged more for Maximum Strength Robitussin. A federal district court in New York has denied in part and granted in part pharmaceutical manufacturer’s motion to dismiss all claims and denied its motion to strike the complaint’s class action allegation...

Intellectual Property

TOP STORY—N.D. Cal.: Apple’s challenge to the NHK-Fintiv doctrine can’t be heard in federal court
November 19, 2021 | By Matthew Hersh, J.D.
The technology company lacked standing to pursue its claim that the PTO’s rules for inter partes review unlawfully deferred to pending court cases A set of rules developed by the Patent Office to determine when the validity of existing patents would be reviewed simultaneously by the judiciary and the agency could not be the subject of a court challenge, the federal court in San Jose, California, has held. The court’s decision, brushing back a cha...

Labor & Employment Law

TOP STORY—1st Cir.: No injunction pending appeal for Mass General Brigham employees denied COVID vaccine exemption requests
November 19, 2021 | By Kathleen Kapusta, J.D.
The employees acknowledged that Mass General Brigham granted religious or medical exemptions to at least 234 employees. Mass General Brigham employees failed to convince the First Circuit to issue an injunction pending appeal of a district court’s denial of their request for preliminary injunctive relief against MGB’s application of its mandatory COVID-19 vaccination policy to them individually. Noting that the employees, who sued MGB under Title...

Products Liability & Insurance

TOP STORY—DAMAGES—Fla.Sup.Ct.: Florida high court declines reinstatement of $5M punitive damages award against R.J. Reynolds based on Florida’s pre-1999 punitive damages law
November 19, 2021 | By Nicholas Kaster, J.D.
In reaching its conclusion, the state supreme court disapproved the three certified conflict cases of Allen Evers , and Konzelman reached by the Florida First, Second, and Fourth District Courts of Appeal. A Florida punitive damages statute, as amended in 1999, applies in Engle progeny wrongful death actions in which the decedent died after the effective date of the amendments, according to the Florida Supreme Court. Accordingly, the court approv...

Securities

TOP STORY—SEC proposes to enhance securities lending transparency, updated recordkeeping
November 19, 2021 | By Rodney F. Tonkovic, J.D.
New Rule 10c-1 would enhance the transparency and efficiency of the securities lending market by requiring data to be reported and made public in short order. By unanimous vote, the SEC has advanced two new proposed rules: one is intended to increase the transparency and efficiency of the securities lending market, and the other updates the electronic recordkeeping requirements for intermediaries. The lending transparency proposal would require r...