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Updated: 17 min 12 sec ago

As 'Social Inflation' Helps Fuel 'Nuclear' Verdicts, Insurers Address 'Legal System Abuse'

Fri, 2024-04-05 17:44

In this week's Legal Speak episode, James Whittle with the American Property Casualty Insurance Association dives into the impact of what the organization has dubbed "legal system abuse" as social inflation—the belief that large corporations are "bad actors with deep pockets"—helps fuel "nuclear" verdicts.

       

Da Vinci Partners Sues Kili Technology, Claiming Gen AI Tool 'davinci' Infringes Trademark

Fri, 2024-04-05 16:36

Swiss patent law firm Da Vinci Partners sued Kili Technology for trademark infringement and unfair competition over the naming of its generative AI-powered patent drafting tool davinci, arguing the lines between "goods" and "services" have blurred. This case was first surfaced by Law.com Radar.

       

6th Circuit Judge Worries Court AI Disclosure Rules Could Deter Use of the Tech

Fri, 2024-04-05 16:14

"[S]houldn't the output stand on its own—whether it was drafted by a robot, a first year associate, or an experienced partner?" said John Nalbandian.

       

Judge Allows Third-Party Cannabis Advertisers Into NY's Pot Industry

Fri, 2024-04-05 16:07

The judge who made the decision, Justice Kevin Bryant, had originally sent shock waves through the cannabis legal community when his initial decision invalidated major portions of New York cannabis regulations.

       

Spencer Fane Notches 16.5% Topline Growth as Firm Seeks Out More Markets

Fri, 2024-04-05 16:05

Lateral partners are paid the same as they would be if they were in the equity tier, so they're not serving as "de facto leverage" for the existing equity partners, noted the firm's leader.

       

Manhattan Jury Finds Terraform, Do Kwon Liable in Crypto Civil Fraud Trial

Fri, 2024-04-05 15:54

U.S. District Judge Jed Rakoff of the Southern District of New York said he intends to rule on penalties no later than the first week of May, after receiving briefs from the defendants and the U.S. Securities and Exchange Commission.

       

'It's Just Really Frustrating': Microsoft IP Contract Dispute Removed to Federal Court on Eve of Pretrial Conference

Fri, 2024-04-05 15:41

"I think [Microsoft is] trying to avoid a trial and an adverse ruling on summary judgment," said Mark Walters of Lowe Graham Jones.

       

SEC Pauses Climate Disclosure Rule Amid Legal Challenges

Fri, 2024-04-05 15:36

"[T]he Commission will continue vigorously defending the Final Rules' validity in court and looks forward to expeditious resolution of the litigation," the SEC said.

       

$239K Sanction Against Law Firm Lifted: Judge Abused Discretion

Fri, 2024-04-05 15:29

The judge had come under previous scrutiny for two fictional novels she wrote and published, which critics claim appear to be based on real litigation.

       

Massachusetts Court: 'Real Time' Clinical Trial Data Not Needed to Avoid Securities Claims

Fri, 2024-04-05 15:16

U.S. District Judge Angel Kelley wrote that Latham & Watkins-repped Homology Medicines Inc. "had no duty to disclose data in real time."

       

Wilmer Sees Growing Share of Fees From Meta, as Firm's Total Revenue Expands

Fri, 2024-04-05 15:11

Law firms may face business risks if a single client's bills make up more than 5% of a firm's total revenue, some consultants suggest, while others say the threshold would have to be much higher.

       

'Failure Is Not Fraud': Dentons Partner, SEC Make Closing Arguments in Terraform Civil Fraud Trial

Fri, 2024-04-05 14:58

After hearing nearly two weeks of evidence in the civil fraud case, jurors in the Southern District of New York on Friday began deliberating on whether cryptocurrency company Terraform Labs and its founder Do Kwon defrauded investors by lying about the company's success.

       

Inside Track: Activist Investors Poised to Wreak More Havoc, Despite Disney Defeat

Fri, 2024-04-05 14:17

"Armed with extensive financial analysis and a deep understanding of the industries they target, activists are increasingly likely to make the case that breaking up or selling off certain divisions or subsidiaries would create more value for shareholders," Vinson & Elkins told clients.

       

MDL Judge's Orders Should Spur New Rule Calling for the Early Vetting of Claims

Fri, 2024-04-05 14:00

Some lawyers have found that they can gain an advantage in an MDL by stockpiling claims, regardless of their individual merits. In recent years, this gamesmanship has become a huge problem.

       

How I Made Partner: 'Take Complete Ownership of Your Deals From Day One,' Says Brad King of Sullivan & Cromwell

Fri, 2024-04-05 11:00

"This means thinking ahead and trying to understand the big picture, being proactive rather than reactive and coming up with solutions rather than just identifying problems."

       

Tenth Circuit Warns Against Ignoring Procedural Rules in Declining to Reach the Merits of a Criminal Appeal

Fri, 2024-04-05 11:00

A recent Tenth Circuit opinion underscores the procedural requirements to preserve issues for review in both the trial court and on appeal.

       

Biden's Judges Have Made the Judiciary More Diverse. How Are They Shaping the Law?

Fri, 2024-04-05 00:27

While it's likely too early to see major swings in the law, the president's appointees' individual opinions on criminal law and qualified immunity show the impact the judges' diverse professional backgrounds have on their jurisprudence.

       

Under Fire, Ozempic Lawyers Add Two 'Team Players' to Proposed Leadership

Thu, 2024-04-04 19:20

Plaintiffs' lawyers who assembled a proposed leadership team in Ozempic lawsuits fired back at the accusation that they excluded attorneys—then added two more lawyers to their proposed team.

       

The Law Firm Disrupted: Getting a Head Start on the Office of the Future

Thu, 2024-04-04 19:05

Katrina Kostic Samen, leader of Savills Workplace Studio, argues that the office is going to make a comeback. And she says that smart firms should start conceptualizing what this looks like now.

       

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