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9th Circuit Bases Attorney Fees On What Class-Action Clients Get In Hand
July 01, 2023
The U.S. Court of Appeals for the Ninth Circuit made clear its view — that class-action plaintiffs' lawyers generally should not be awarded fees that exceed the amount their clients get from a settlement — as the court struck down a $1.7 million fee award in which a copyright plaintiffs' class received less than $53,000 in an infringement dispute settlement.
Should Foreign Companies Face Lanham Act Sanctions for Trademark Infringement Occurring Abroad?
July 01, 2023
The U.S. Supreme Court is considering whether the federal Lanham Act should be interpreted so broadly that domestic companies can leverage it to bar trademark infringement by — and seek significant damage awards against — foreign entities operating almost entirely overseas.
Midsize Firms Outpace Am Law 200 In Key Growth Metrics
July 01, 2023
While many of the country's largest law firms contend with financial volatility that has resulted in financial declines and workforce overcapacity, the 20 midsize firms included in the Am Law 200 outperformed the 2023 Am Law Second Hundred in key financial metrics.
Despite Rhetoric On Individual Accountability, Recent FCPA Enforcement Has Targeted Entities
July 01, 2023
With ample bravado, in recent years the FCPA unit of the DOJ and the SEC have proclaimed that holding individuals accountable for foreign bribery schemes is of "critical importance," with the FCPA saying "it is unambiguously this department's first priority" to prosecute individuals in corporate criminal matters. Reviewing the enforcement record, however, one sees that the volume of FCPA enforcement activity with respect to individuals has steadily declined in the last three years.
Second Circuit Sets Up Seven-Factor Test for Third-Party Releases In Bankruptcy Cases
July 01, 2023
The Second Circuit had a tough call to make in the Purdue Pharmacy bankruptcy appeal: What to do about the release given to the Sackler families who had agreed to contribute $5.5 to $6 billion to Purdue's reorganization plan but were not themselves in bankruptcy.
Bankruptcy Court Highlights Pitfalls to Avoid When Retaining Experts
July 01, 2023
Simply because the expert is retained by counsel in anticipation of litigation, does not automatically render all communications privileged.
Bankruptcy Judge Dismisses 3M Unit's Earplug Case, Concluding It Had No 'Valid Reorganization Purpose'
July 01, 2023
U.S. Chief Bankruptcy Judge Jeffrey Graham found that 3M subsidiary Aearo Technologies, which is financially solvent, had no "valid reorganization purpose" to file for Chapter 11 protection last year.
The Fed Worries About Bank CRE Loans for a Good Reason
July 01, 2023
The Federal Reserve and other regulators have been focused of late on bank problems, and well they should. But concern is now spreading to commercial real estate and the possibility that interplays between CRE borrowers and lenders could, under current conditions, create a positive feedback loop that could increasingly hurt both.
AI Regulation In the U.S.: What's Coming, and What You Need to Do, Part 2
July 01, 2023
Part Two of a Two-Part Article In Part One, last month, the authors addressed the industries most affected by AI, and began the discussion on U.S. federal and state regulations to expect in 2023. Part Two continues the discussion on potential federal AI regulation and what companies can do to prepare.
The Way Big Law Reacts to Economic Cycles Is Unrealistic, Unhealthy and Inhumane
July 01, 2023
The problem isn't that economies are cyclical, that's a fact of life. The problem here is that Big Law can sometimes have unrealistic reactions to both upturns and downturns. If this happens, it's not in the interests of their own attorneys or their clients. It's inhumane and unhealthy.

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