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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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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