Compliance Hot Spots: Preparing for GOP-Led Investigations + CFPB Funding Structure Ruled Unconstitutional + Google's Novel Compliance Settlement
Kirkland & Ellis partner Reginald Brown on how corporations are likely to be ensnared by House investigations into corporate ESG practices, China and the Biden administration.
October 26, 2022 at 04:29 PM
11 minute read
Welcome to Compliance Hot Spots, our weekly snapshot on white-collar, regulatory and compliance news and trends. Today, Republicans are favored to retake the House following next month's midterm elections, with control of the Senate looking like a tossup. We talk to a leading congressional investigations lawyer about what that will mean. Plus, a court ruling leaves the CFPB funding structure in doubt, and Wilmer guides Google through a novel legal process settlement with DOJ. Contact me at [email protected] and @AGoudsward on Twitter.
Investigative Priorities for a GOP-Controlled House
With Republicans favored to retake the House, and possibly the Senate, in next month's midterm elections, the environment on Capitol Hill is likely to change dramatically next year.
For major law firms that steer clients through congressional scrutiny, that means preparing for an onslaught very different from the one Democrats led this Congress.
I recently caught up with Reginald Brown, a partner at Kirkland & Ellis who has represented major corporations and CEOs facing congressional scrutiny, to talk about the investigative priorities of the next Congress and what the firm is doing to prepare. Here is a portion of that conversation.
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3 minute readLaw Firms Mentioned
- Vinson & Elkins
- Paul Hastings
- K&L Gates
- Saul Ewing Arnstein & Lehr
- Arnstein Lehr
- Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
- Stradley Ronon Stevens & Young
- Perkins Coie
- Wilmer Cutler Pickering Hale and Dorr LLP
- Kirkland & Ellis
- Clark Hill
- Sullivan & Cromwell LLP
- Mayer Brown
- McGuireWoods
- Gibson, Dunn & Crutcher
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Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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