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WHAT WE'RE WATCHING

DOMESTIC TIE-UPS - Mergers aren't what they used to be. As we noted last week in this space, the total in 2023 still below average, as larger and larger firms are gauging more and more complex combinations. In addition, Law.com's Andrew Maloney reports, there are fewer cross-border unions materializing despite what analysts describe as "an awful lot" of interest among U.K. firms in the U.S. market. However, the recent combination between Allen & Overy and Shearman & Sterling may be "the domino that starts the merger rally," putting pressure on U.K.-founded firms such as Clifford Chance, Freshfields Bruckhaus Deringer, Linklaters and Ashurst to make more big moves in the U.S., the latter of which had been reportedly prioritizing a merger partner in the U.S.

BUSINESS TRIPS - More Silicon Valley executives, even top brass, are using drugs on the job, a trend that puts general counsel and board members in an extraordinarily difficult spot, legal observers and academics say. Many executives "microdose," a quantity insufficient to produce a mind-bending hallucinatory effect, believing the drugs maximize mindfulness and are a gateway to business breakthroughs. But, as Law.com's Hugo Guzman reports, legal observers say the practice is cause for worry, in part because the use of psychedelics is generally illegal and can lead to addiction. In addition, their use often is in direct violation to company policies outlined in employee handbooks. Attorneys said companies should be proactive in determining how they would respond to executive drug use. Those discussions should include the board and general counsel, as well as company insurers and even key investors.

ON THE RADAR - Waters Corp., a manufacturer of lab instruments and software, was slapped with an ERISA class action Friday in Massachusetts District Court. The suit was filed by Walcheske & Luzi and attorney Jonathan M. Feigenbaum on behalf of participants and beneficiaries of Waters Corp.'s investment plan who accuse the company of charging excessive service fees and maintaining underperforming investments. Counsel have not yet appeared for the defendants. The case is 1:23-cv-11527, Daggett v. Waters Corporation et al. Stay up on the latest state and federal litigation, as well as the latest corporate deals, with Law.com Radar.   

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