Why Clients and Law Firms Are Stocking up on Regulatory Tech and Talent: The Morning Minute
The news and analysis you need to start your day.
September 29, 2023 at 06:00 AM
4 minute read
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WHAT WE'RE WATCHING
KNOW YOUR ABCs - There are a lot of acronyms in the regulatory world and these days companies need to know pretty much all of them, Law.com's Heather Nevitt writes in this week's Barometer newsletter. "In fact, when I talk to any group of GCs, they all say that the increased focus of regulatory bodies on enforcement is one of the main things that keeps them up at night," Nevitt writes. The upshot? Companies' investment in governance risk and compliance tech is likely to skyrocket and Big Law is likely to continue stocking up on regulatory specialists. To receive the Law.com Barometer directly to your inbox each week, click here.
GEARING UP FOR A SHUTDOWN - When it comes to the federal government, the only thing certain is uncertainty—and the fact that uncertainty will create business for Big Law. Large law firms' government-facing practices are bracing clients for the practical implications on their businesses, as the U.S. careens toward a government shutdown on Sunday without congressional action. As Law.com's Abigail Adcox reports, law firms' public policy practices are busy fielding questions from clients on matters such as how a shutdown would impact government contractors, how it would affect regulations coming down the pipeline from the federal government, and what would happen with certain federal programs, among other matters.
ON THE RADAR - Potter Anderson & Corroon partners Jaclyn C. Levy and Kevin R. Shannon have stepped in to represent U.S. Bank and its current and former executives and directors in a pending shareholder derivative lawsuit. The suit, filed Aug. 16 in Delaware District Court by Bielli & Klauder and Lifshitz Law on behalf of Richard Levi, accuses the defendants of filing false proxy statements and failing to disclose employees misconduct related to the unauthorized opening of credit cards, lines of credit and deposit accounts. The case, assigned to U.S. District Judge Richard G. Andrews, is 1:23-cv-00900, Levi v. Cecere 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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EDITOR'S PICKS
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Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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