iLocal News Archives

3 Charged With Insider Trading On Trump Media Co. Deal

From Media & Entertainment Law360

FRIDAY, JUNE 30, 2023


3 Charged With Insider Trading On Trump Media Co. Deal

By Pete Brush

Three investors who backed Donald Trump-focused acquisition vehicle Digital World Acquisition Corp. were charged with insider trading in Manhattan federal court Thursday, accused of exploiting secrets about the former president’s media company to make $22 million in a criminal case lodged as part of a securities fraud crackdown.

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9th Circ. Backs Beach Boys Singer In Email Fight With Ex-Attys

By Henrik Nilsson

The Ninth Circuit on Wednesday ruled for Beach Boys singer Michael Love by tossing his former attorneys’ challenge to a discovery order requiring them to hand over thousands of emails concerning their fees, saying the circuit does not have jurisdiction over the appeal.

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Travis Scott Won’t Face Criminal Charges In Astroworld Crush

By Catherine Marfin

A Harris County grand jury on Thursday declined to indict rapper Travis Scott for his involvement in the death of 10 people at his 2021 Astroworld concert in Houston.

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Feds Drop ‘Varsity Blues’ Charges After 1st Circ. Setback

By Chris Villani

Boston federal prosecutors said Thursday they will drop charges against two parents whose convictions in the “Varsity Blues” scandal were thrown out by the First Circuit, bringing to a close part of the high-profile case that ensnared Hollywood stars and corporate executives.

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ChatGPT Is ‘Trained’ Using Copyrighted Books, Authors Say

By Lauren Berg

OpenAI is profiting from authors’ stolen works as its ChatGPT scoops up copyrighted materials as part of its “training,” according to a new proposed class action in California federal court over the artificial intelligence company’s practice of harvesting information from across the internet.

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Most Of Vogue’s TM Opposition Came Too Late, TTAB Finds 

By Jasmin Boyce

Vogue magazine’s owner has failed to completely sink a consumer electronics company’s bid to register the mark “eVogue” after a Trademark Trial and Appeal Board panel found that the publisher unduly waited over a decade to express concerns of consumer confusion.

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Cos. Argue Social Media Immunity From Mental Health Claims

By Mike Curley

The companies behind Facebook, YouTube and other social media platforms are urging a California federal court to throw out claims in multidistrict litigation seeking to hold them liable for harm to young users, saying the claims are barred by federal law granting immunity to the publishers of third-party content online, as well as the First Amendment.

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Judge Set To OK Alex Jones Sandy Hook Ch. 11 Deal

By Aaron Keller

A bankruptcy judge in Texas on Thursday said he was poised to approve a confidential settlement proposal between Alex Jones, Free Speech Systems LLC and three remaining Sandy Hook plaintiffs whose claims have not been fully adjudicated, saying the settlement appears fair and reasonable to the Infowars host’s estate.

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IMedia Brands Hits Ch. 11 In Del. With $129M In Debt

By Leslie A. Pappas

Media company and shopping channel hub iMedia Brands Inc. and 11 of its subsidiaries filed for Chapter 11 protection in Delaware late Thursday with more than $129 million in debt.

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‘Shark Tank’ Investor Says Biz Partner Violated Order

By George Woolston

A “Shark Tank” investor is accusing the daughter of an ex-NFL player of soliciting emails for a newsletter to provide updates on her family’s “nightmare” working with him and a New Jersey food services company, arguing it violates a temporary order barring the family from making disparaging comments.

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Authentic Brands Secures $500M Investment To Fuel Growth

By Jade Martinez-Pogue

Global brand development, marketing and entertainment platform Authentic Brands Group, advised by Latham & Watkins LLP, on Thursday announced that growth equity firm General Atlantic, advised by Paul Weiss Rifkind Wharton & Garrison LLP, re-invested in the company, completing a $500 million primary follow-on investment that will be used to support Authentic’s global expansion.

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Deal Rumor Mill: TRP Energy, Purell, Group Black 

By Al Barbarino

TRP Energy’s Permian basin assets could attract $1.5 billion, bids for Purell maker Gojo Industries miss the mark, Black-owned media company Group Black mulls majority stake in Sports Illustrated’s publisher. Here, Law360 breaks down the notable deal rumors from the past week.

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2nd Circ. Won’t Revive Models’ TM Claims Against NY Clubs

By Lauren Berg

The Second Circuit on Wednesday refused to revive a lawsuit against two New York nightclubs over their use of images of models on social media, saying the women who brought the Lanham Act false endorsement claims aren’t recognizable enough for the posts to confuse consumers.

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Redditors Agree To Settle SatoshiStreetBets Crypto TM Suit

By Henrik Nilsson

A New York federal judge on Wednesday agreed to toss a trademark dispute launched by a Reddit forum moderator against a group of cryptocurrency sellers after the parties told the court they had settled.

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Google Objectors Lower Fee Request To Avoid Legal Woes

By Aaron West

Two former public interest attorneys representing a class of plaintiffs over settlement distribution concerns after they sued Google in a recently settled decade-old privacy class action asked a California federal judge this week to lower the attorney fees they had requested by more than a million dollars to avoid further litigation.

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FTC Faces Skeptical Judge As Microsoft Merger Hearing Ends

By Dorothy Atkins

A California federal judge appeared dubious Thursday of the Federal Trade Commission’s bid to block Microsoft’s $68.7 billion merger with Activision Blizzard Inc. during closings of a five-day hearing, criticizing the FTC expert’s analysis and suggesting others could create a game rivaling Activision’s Call of Duty.

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Broadcasters Want Changes To Ad Price-Fixing Deals

By Matthew Perlman

Broadcasters including Tegna, Sinclair and Gray Media have asked an Illinois federal court to reconsider its approval of $48 million in deals struck between advertising buyers and other broadcasters to end claims over an alleged scheme to artificially inflate prices.

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9th Circ. Denies Review Of NLRB Injunction Row

By Emily Brill

The Ninth Circuit stood by its decision to free an Oregon television station from the obligation to recognize a National Association of Broadcast Employees and Technicians local Thursday, tossing National Labor Relations Board prosecutors’ request for the court to reconsider its holding.

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Post-Gazette Tells 3rd Circ. Labor Status Quo Didn’t Carry Over

By P.J. D’Annunzio

The Pittsburgh Post-Gazette asked a Third Circuit panel on Thursday to undo a National Labor Relations Board decision requiring it to reinstate two laid-off employees, arguing that the board incorrectly said the newspaper had to preserve those employees’ jobs in accordance with the previous contract even though it was no longer in effect.

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Atty Calls Contested Chancery AMC Class Settlement Historic

By Jeff Montgomery

Acknowledging investor losses and “meme” stock passions driving objections to a proposed AMC Entertainment Inc. stockholder settlement, a class attorney defended as historic on Thursday a potential $120 million deal to end a Delaware Chancery Court suit over a company share conversion and reverse stock split.

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Broker Charged With Insider Trading On Morgan Stanley Info

By Ivan Moreno

A New York broker used confidential information stolen from Morgan Stanley to make millions of dollars in profits from trades on future corporate acquisitions, federal prosecutors alleged Thursday.

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FCC To Tackle E-Rate, 988 Hotline Tweaks At July Meeting

By Nadia Dreid

The E-rate program to subsidize school and library internet costs has been on the Federal Communications Commission’s mind lately, and at its next meeting, the commissioners plan to greenlight a rule change that will make it easier for tribal college libraries to qualify for funds.

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Twitter Says Eviction Suit Is Landlord’s Bid To Duck $5.8M Bill

By Grace Dixon

Twitter has filed a suit against the Boulder, Colorado, landlord that secured an eviction order booting the company for nonpayment of rent, telling a state court the eviction lawsuit disguises the landlord’s attempts to skirt a $5.8 million renovation bill.

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ICE OB-GYN Gets Okay To Depose Patient In Defamation Suit

By Rae Ann Varona

A North Carolina federal court allowed a doctor accused of performing unnecessary gynecological procedures on immigrant women to question one woman in court for his defamation suit against NBCUniversal Media LLC, rejecting the woman’s arguments to quash the deposition.

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Diageo Says Fight With Diddy Must Be Arbitrated

By Caroline Simson

Diageo has fired back against Sean “Diddy” Combs’ lawsuit accusing the British alcoholic beverage company of racism for typecasting his brands as beverages for “urban” consumers, calling him an “unreliable and untrustworthy business partner” and arguing that the dispute belongs in arbitration.

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Hirschler Fleischer Brings On Litigation Atty In Va.

By Jack Rodgers

Hirschler Fleischer has added a litigation partner with nearly 20 years of experience to its office in Tysons, Virginia, who will focus on a range of clients in complex civil litigation matters, the firm said.

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Charter Communications Labor VP Rejoins Littler In DC

By Donald Morrison

Littler Mendelson PC has expanded its labor management relations practice, adding a former special counsel with more than 20 years of experience who’s rejoining the firm in Washington, D.C., after a brief stint with telecommunications provider Charter Communications.

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A ‘Trump Too Small’ TM Registration Could Curb Free Speech

If the U.S. Supreme Court affirms the Federal Circuit’s opinion asserting that First Amendment rights eclipse Section 2(c) of the Lanham Act and giving a T-shirt maker a proprietary right to the phrase “Trump Too Small,” it would counterintuitively pit commercial interests against the public’s free speech rights, says Maya Tarr at Carob Law.

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Top Court Strikes Down Affirmative Action In Higher Education

By Chris Villani

The U.S. Supreme Court on Thursday struck down affirmative action admissions policies at Harvard University and the University of North Carolina at Chapel Hill, undoing decades of precedent in a ruling that will have wide-ranging implications for academia and a potentially broad swath of the workforce.

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Affirmative Action Ruling Could Spawn ‘Years Of Litigation’

By Chris Villani

The U.S. Supreme Court’s Thursday ruling striking down affirmative action admissions policies at Harvard University and the University of North Carolina could kindle future legal challenges as schools scramble to find other ways to achieve diversity, experts told Law360, and could have broader implications for the workforce as a whole.

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Harvard Ruling Ignores That ‘Race Matters,’ Court Liberals Say

By Brian Dowling

Supreme Court Justices Sonia Sotomayor and Ketanji Brown Jackson on Thursday rued the court’s “impotence” to confront the enduring effects of race in American society, attacking the majority’s ruling that struck down affirmative action in higher education as a flawed, two-dimensional take from conservative justices that betrays precedent.

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High Court Revives Ex-USPS Mail Carrier’s Religious Bias Suit

By Vin Gurrieri

The U.S. Supreme Court upended the U.S. Postal Service’s win in a former mail carrier’s religious discrimination suit Thursday, clarifying a long-standing test for measuring the burden that religious accommodations pose on employers.

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Biden Says Expanding Supreme Court Would Be ‘A Mistake’

By Hailey Konnath

President Joe Biden on Thursday slammed the U.S. Supreme Court for departing from decades of precedent and progress with its decision striking down affirmative action, but said expanding the high court would be “a mistake” because it has the potential to become “so politicized in the future.”

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McElroy Deutsch Says Married Former Execs Stole Over $3M

By Jake Maher

McElroy Deutsch Mulvaney & Carpenter LLP said that its former chief financial officer and another firm executive — a married couple with over 20 years each at the firm — stole $3.2 million, with the CFO regularly padding his bonuses and the pair bankrolling luxury vacations on their corporate credit cards.

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Chicago Bar Association Appoints 1st Openly Gay President

By Andrea Keckley

The managing member of Clark Hill PLC’s Chicago office was set to be sworn in Thursday as president of the Chicago Bar Association, the first openly gay person to hold the role.

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Anti-BLM Tweeting Atty Didn’t Seek Violence, State Bar Told

By Gina Kim

A Los Angeles employment attorney on Thursday defended attorney Marla Brown in her California State Bar ethics trial over tweets calling for Black Lives Matter protestors to be shot, saying he’s known her for over 20 years and believes she was simply expressing her frustrations and didn’t intend to incite violence. 

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Eastman’s 1-In-A-Quadrillion Stat Proves Zilch, Bar Judge Told

By Craig Clough

A Stanford political science professor testified on Thursday at John Eastman’s California disbarment trial that an analysis touted by the attorney finding a less than one-in-a-quadrillion chance that President Joe Biden won the 2020 election in four key states is highly flawed and the result of its author “not thinking very carefully.”

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What IP Attys Need To Know About Del. Judge Nominee Hall

By Dani Kass

President Joe Biden has named a former patent litigator turned magistrate judge, with advanced degrees in molecular biophysics and biochemistry, as his nominee for judge in the U.S. District Court for the District of Delaware.

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Rhode Island District’s Judge Smith To Take Senior Status

By Katie Buehler

District of Rhode Island Judge William E. Smith announced Wednesday that he will take senior status in January after serving for more than two decades on the three-judge bench.

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Class Benefits Becoming Larger Factor For Fees, Experts Say

By Lauraann Wood

Class action fee awards are experiencing a shift in which counsel’s compensation is becoming more about the benefits secured for class members than simply the amount of money involved in a settlement, according to a panel of experts who discussed the topic Thursday.

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Judge Says ‘Breathtaking Dishonesty’ Ends Signal Co.’s Case 

By Andrew Karpan

A Montana federal judge on Thursday kicked a Canadian portable traffic signal supplier’s patent lawsuit to the curb over the “breathtaking dishonesty” of using an “elaborate” ruse to secretly depose a rival’s top executive, comparing the startup’s efforts to keep the suit alive to those of “a child who has hidden a game console under his pillow begging for his punishment to be exile to his room.”

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8th Circ. Affirms $500 Atty Fee In Workers’ OT Suit

By Emily Sawicki

An Arkansas law firm will pocket just $500 in fees from workers it represented in an underlying Fair Labor Standards Act class action settlement, after the Eighth Circuit determined Thursday that a district court properly applied a reduction based on the firm’s “egregious” and “unprofessional” conduct.

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Serial Fraudster Cops To Posing As Lawyers In Epstein Scam

By Rachel Scharf

A recidivist Florida fraudster pled guilty in Manhattan federal court Thursday to impersonating multiple white-shoe lawyers as part of a scheme to raise $1 million for a nonexistent investigation into two investment firms’ supposed ties to Jeffrey Epstein.

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Mich. Ups Judicial Watchdog Staff, Funds Youth Justice Office

By Carolyn Muyskens

The Michigan Legislature passed a new state budget that delivered several of the judiciary’s wish-list items, including funding for statewide juvenile justice initiatives and more staff for the division that prosecutes judges for misconduct.

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The Term: The Supreme Court Guts Affirmative Action

The U.S. Supreme Court on Thursday dismantled affirmative action in a 6-3 majority opinion that held that race-based admissions policies at Harvard and the University of North Carolina violated the equal protection clause of the 14th Amendment.

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