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1 week ago | 
news.bloomberglaw.com | Daniel Seiden |Andrew Harris
Plaintiffs challenged agency’s capping of indirect cost ratesCap violates Administrative Procedure Act, complaint saidBrown and Cornell universities, the Massachusetts Institute of Technology and several other US schools won a federal court order striking down a National Science Foundation cap on indirect cost rates for government-funded research.
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2 weeks ago | 
news.bloombergtax.com | Carmen Castro-Pagan |Andrew Harris
A court fight is brewing among law firms gunning for the chance to earn a potential nine-figure fee challenging Silver Lake’s $13 billion acquisition of Endeavor Group Holdings Inc. At stake is the right to lead the case second-guessing a buyout that allegedly undershot the value of just Endeavor’s majority stake in TKO Group Holdings Inc., parent company of UFC and WWE.
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2 weeks ago | 
news.bloombergtax.com | Patrick Dorrian |Andrew Harris |Carmen Castro-Pagan
TikTok‘s appellate fight to send a female executive’s discrimination lawsuit to arbitration gives another federal circuit the chance to decide whether allegations of “sexual” misconduct are required to trigger a #MeToo-inspired opt-out law.
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2 weeks ago | 
news.bloombergtax.com | Andrew Harris |Brian Flood
Shaquille O’Neal has agreed to pay victims of the FTX collapse $1.8 million to settle claims that he promoted the now-collapsed cryptocurrency exchange, according to a federal court filing. The classwide settlement is fair and should be given preliminary approval, investors who bought crypto assets through FTX told the US District Court for the Southern District of Florida on Monday.
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2 weeks ago | 
news.bloombergtax.com | Jennifer Kay |Alex Clearfield |Andrew Harris
An Austrian asset manager’s insider trading allegations against Kraft Heinz Co. over $1.2 billion in stock sales shortly before Kraft’s share prices plummeted in 2018 were revived Monday by the Delaware Supreme Court.
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3 weeks ago | 
news.bloombergtax.com | Gillian Brassil |Andrew Harris |Carmen Castro-Pagan
Alphabet Inc. board’s $500 million commitment to improve its global regulatory compliance structure should alert companies to ensure their corporate overseers are actively and clearly monitoring risks, attorneys say. And it’s a reminder of the force of shareholder derivative actions such as the ones now settled by Google’s corporate parent to compel internal reform, they add.
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4 weeks ago | 
news.bloombergtax.com | Gillian Brassil |Andrew Harris |Carmen Castro-Pagan
Government clean-up of an immigrant investor program—conceived to bring to the US those who had the wherewithal to create jobs in the country—has apparently eased its securities fraud litigation future, lawyers in the field say. No new EB-5 Investor Program cases similar to some high-profile ones involving misconduct have been filed after a major overhaul to the program three years ago, attorneys said.
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1 month ago | 
news.bloombergtax.com | Patrick Dorrian |Carmen Castro-Pagan |Andrew Harris
Practitioners are closely watching federal appeals courts for clarity on whether a recent law that lets workers opt out of sexual harassment arbitration extends to all claims, including those unrelated to employment or the alleged harassment. The US Court of Appeals for the Sixth Circuit was presented with the question in a May 12 appeal by law firm Adams & Reese LLP, while the Second Circuit was asked May 27 to address it in an appeal by TikTok Inc. and its parent ByteDance Ltd.
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1 month ago | 
news.bloombergtax.com | Michael E. Kenneally |Jennifer Bennett |Andrew Harris |Carmen Castro-Pagan
As Elon Musk says he’s stepping back from his role in the Trump administration, his X Corp. faces a growing number of legal battles with employees fired after he acquired the social media platform formerly known as Twitter. X faces more than three dozen lawsuits tied to Musk’s 2022 Twitter takeover and ensuing mass layoffs. Former employees allege the company targeted them based on race, sex, age, or disability or stiffed them on severance payments.
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1 month ago | 
news.bloombergtax.com | Jennifer Kay |Andrew Harris
The Delaware Chancery Court’s chief judge will review this week a decision to block access to texts and emails from Pioneer Natural Resources Co.'s ex-CEO related to the Texas-based energy exploration and production company’s sale to ExxonMobil Corp. Here’s more from the court’s calendar:Monday: Thomas v. American Midstream GP, LLC, Del. Ch., No. 2019-0641, trial 5/19/25. At issue: Vice Chancellor Morgan T. Zurn ruled Dec.
