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Big tech stocks soared again in 2021, and as a result just five firms—Microsoft, Nvidia, Apple, Alphabet and Tesla—now a...
12/31/2021
Legal Leaders in Tech to Face Pressure on Multiple Fronts in 2022 | Corporate Counsel

Big tech stocks soared again in 2021, and as a result just five firms—Microsoft, Nvidia, Apple, Alphabet and Tesla—now account for more than half of the S&P 500′s gain since April.

But clouds loom over the sector going into 2022.

There's a bipartisan view in Washington, D.C., that the technology industry should be carved up like a Thanksgiving turkey, that it’s too powerful...

Zoom experienced monstrous growth during the COVID-19 pandemic. Supporting that once-in-a-lifetime growth was Zoom’s leg...
12/30/2021
Legal Department of the Year: Zoom Video Communications | Corporate Counsel

Zoom experienced monstrous growth during the COVID-19 pandemic. Supporting that once-in-a-lifetime growth was Zoom’s legal department, led by current GC Jeff True and former GC Aparna Bawa.

Zoom’s Commercial Legal team saw their workload grow 300% overnight in March 2020, Zoom Head of Legal Operations Allison Silver said.

The IGC didn’t name the executive in its documentation but identified the person as an executive vice president, secreta...
12/30/2021
Boyd Gaming Fined $150K Over Failure to Disclose Probe Into Former GC's S*x Scandal | Corporate Counsel

The IGC didn’t name the executive in its documentation but identified the person as an executive vice president, secretary and general counsel who retired on Dec. 9, 2019. According to SEC disclosures filed by Boyd Gaming, Brian Larson retired from that position on the same date.

Brian Larson abruptly resigned in December 2019 after an internal investigation confirmed his relationship with a female Boyd executive.

The SEC alleges that Medallion and its COO schemed with a PR firm and contractor to inflate the company's stock price am...
12/29/2021
Taxi Medallion Lender's GC 'Responded Falsely' to Questions About Stock Pumping Scheme, SEC Says | Corporate Counsel

The SEC alleges that Medallion and its COO schemed with a PR firm and contractor to inflate the company's stock price amid competition from ride-sharing companies. Medallion's general counsel and compliance chief did not respond truthfully to a reporter who asked about the alleged scheme, according to the SEC.

The SEC alleges that Medallion Financial and its chief operating officer schemed with a PR firm and contractor to stealthily push positive stories...

“VW filed its motion to intervene more than five months before COVID-19 changed the world. As for the judicial shortage ...
12/29/2021
9th Circuit: Federal Judge’s ‘Overheated’ Allegations Against Sullivan & Cromwell Attorneys in Volkswagen FOIA Case Not Justified | Corporate Counsel

“VW filed its motion to intervene more than five months before COVID-19 changed the world. As for the judicial shortage in the Central District of California, that problem long predates VW’s motion,” the panel wrote.

The Ninth Circuit found evidence did not support a judge’s allegations that a team of Sullivan & Cromwell attorneys in Palo Alto and New York...

Lawyers who traded law firm positions for in-house roles say they’ve welcomed leaving behind billable hours and have emb...
12/29/2021
A Big 2021 Trend: Big Law Lawyers Take In-House Plunge | Corporate Counsel

Lawyers who traded law firm positions for in-house roles say they’ve welcomed leaving behind billable hours and have embraced the opportunity to tackle problems from more of a business perspective, as well as only having to deal with one client.

Lawyers who traded law firm positions for in-house roles say they’ve welcomed leaving behind billable hours and have embraced the opportunity to...

In 2021, in-house lawyers filed lawsuits against their employers, found themselves the target of litigation, and even fa...
12/29/2021
Some In-House Lawyers Found Themselves in Legal Tangles in 2021 | Corporate Counsel

In 2021, in-house lawyers filed lawsuits against their employers, found themselves the target of litigation, and even faced penalties for alleged criminal conduct. We round up 11 cases that thrust in-house lawyers into the spotlight this year.

From Wells Fargo to J.Crew, a range of organizations saw their in-house counsel thrust into the spotlight in 2021.

In September, Intuit announced a novel move for the financial technology company: It would acquire email marketing platf...
12/29/2021
Deputy or Associate General Counsel of Year: Intuit's Stacey Doynow | Corporate Counsel

In September, Intuit announced a novel move for the financial technology company: It would acquire email marketing platform MailChimp. The transaction was not without its challenges, admitted Stacey Doynow, Intuit’s director and deputy GC.

The attorney, who took a hiatus from merger matters until she returned to the space three years ago, helped drive Intuit's biggest acquisitions,...

"[A] board can help the owners of closely held companies get of out of their own way. A board can provide much needed se...
12/29/2021
Reasons Closely-Held Companies Should Consider Installing Boards of Directors | Corporate Counsel

"[A] board can help the owners of closely held companies get of out of their own way. A board can provide much needed separation between owners and their businesses. Separation that is necessary for both the owners and their businesses to prosper."

For some owners of closely-held companies, installing a board of directors may seem more painful than cutting off one of their pinkie fingers.

“Other courts have similarly construed the terms at issue here,” Judge Matheson wrote. “Every circuit to address the iss...
12/29/2021
10th Cir. Joins Growing List of Appeals Courts Siding With Insurers in COVID-19 Business Interruption Cases | Corporate Counsel

“Other courts have similarly construed the terms at issue here,” Judge Matheson wrote. “Every circuit to address the issue has held that identical or nearly identical business income provisions did not cover losses covered by COVID closure orders.”

Every circuit to address the issue has held that identical or nearly identical business income provisions did not cover losses covered by COVID...

For many law firms, a presence in China was a losing proposition even when ties between the countries were less fraught....
12/22/2021
Risky Business: Why US Firms Are Pulling Up Stakes in China | Corporate Counsel

For many law firms, a presence in China was a losing proposition even when ties between the countries were less fraught.

"Most firms don’t make a lot of money off of Chinese clients,” says Jomati Consultants principal Tony Williams.

As tensions escalate and uncertainty abounds, it's getting harder for U.S. firms to find success in China.

What you need to know:🔵 NatWest Markets, a British financial firm, pleaded guilty to fraud charges tied to the manipulat...
12/22/2021
DOJ Touts Crackdown on Repeat Corporate Wrongdoers in NatWest Markets' Guilty Plea | Corporate Counsel

What you need to know:
🔵 NatWest Markets, a British financial firm, pleaded guilty to fraud charges tied to the manipulation of U.S. Treasury markets.

🔵 The firm was accused of violating the terms of a nonprosecution agreement with the Justice Department and agreed to pay $35 million in fines.

🔵 DOJ said the plea underscored its crackdown on repeat corporate wrongdoers and companies who violate pretrial diversion deals.

As we have previously warned, there will be serious consequences for a company that breaches the terms of an agreement with the government, Deputy Attorney General Lisa Monaco said.

Douglas Coleman gets on board with Reliable Robotics after it recently raised $100 million in funding to help get its ai...
12/21/2021
Autonomous-Cargo-Plane Developer Hires Chief Legal Officer | Corporate Counsel

Douglas Coleman gets on board with Reliable Robotics after it recently raised $100 million in funding to help get its aircraft certification program for commercial cargo operations off the ground.

Douglas Coleman's hiring comes on the heels of the company raising $100 million to fund certification of its commercial cargo system.

Norman Reed permanently assumes the general counsel role at Binance.US after it was banned in seven states and has found...
12/21/2021
Embattled Binance.US Names Crypto Veteran With Regulatory Experience as Legal Chief | Corporate Counsel

Norman Reed permanently assumes the general counsel role at Binance.US after it was banned in seven states and has found itself under investigation by the U.S. Department of Justice and Internal Revenue Service.

His predecessor lasted only seven months on the job.

It is a rare opportunity to find a legal leader with Security and Exchange Commission and Federal Reserve Bank, as well as crypto and fintech experiences, Binance.US CEO Brian Shroder said.

"The time is at hand to cast the baseball exemption into the dust bin of antitrust history,” David Lender, co-chair of W...
12/20/2021
Trump Sues New York Attorney General Letitia James, Arguing Investigations Are Politically Motivated | Corporate Counsel

"The time is at hand to cast the baseball exemption into the dust bin of antitrust history,” David Lender, co-chair of Weil, Gotshal & Manges LLP's litigation department, wrote on behalf of four affected minor league teams.

Trump and his company are represented by Alina Habba of Habba Madaio & Associates, which has an office near Herald Square in Manhattan and another in Bedminster, New Jersey, where the former president has a golf club.

"Building an effective DEI program starts at the very top—the C-suite, the CEO, definitely the board of directors—making...
12/18/2021
The Disruptive GC: Reali's New Legal Chief Drives Innovation, Diversity | Corporate Counsel

"Building an effective DEI program starts at the very top—the C-suite, the CEO, definitely the board of directors—making sure that it is a core value, not just lip service, but a core value of what the company wants to achieve. And then it’s making sure that they’re not just talking the talk but walking the walk."

Delma Locke, a former lawyer for Sun Microsystems, Apple and Uber, is ready to use her experience and legal skill set as a superpower in her first...

Midwest legal recruiter Nancy Newman discusses the reputational risks and potential career damage that can come with agr...
12/18/2021
How Counteroffers Can Harm Young Lawyers' Credibility and Hinder Their Careers | Corporate Counsel

Midwest legal recruiter Nancy Newman discusses the reputational risks and potential career damage that can come with agreeing to stay on at an organization that you’ve already made up your mind to leave—especially when doing so requires rescinding acceptance of a new job offer.

This week’s episode features a conversation between Law.com Editor-in-Chief Zack Needles and Midwest legal recruiter Nancy Newman, who has noticed...

A  technical issue caused GRE information to be missing from several of this year's 509 reports. However, the ABA also d...
12/18/2021
'Murkiness' of ABA Data Could Slow Law Schools' Adoption of the GRE | Corporate Counsel

A technical issue caused GRE information to be missing from several of this year's 509 reports. However, the ABA also does not report GRE enrollment information for schools that enroll fewer than 10 students based on their GRE scores.

Until it’s clear what data is going to be reported and how, “we won’t see a world comfortably using the GRE,” said Jeff Thomas, Kaplan’s executive...

Whether new guidance, regulation, investigations, or enforcement activity, the message is clear: The federal government ...
12/17/2021
How Federal Agencies Are Leading the Data Privacy Charge | Corporate Counsel

Whether new guidance, regulation, investigations, or enforcement activity, the message is clear: The federal government is paying close attention to how companies are handling and protecting their data—especially consumer and sensitive data.

The fact that the federal government is jumping with both feet into the privacy and cybersecurity enforcement arena is an event worth watching and...

“J.Crew wants to reinvent itself post-bankruptcy as a modern, inclusive brand, but the way it treated Ms. DiLorenzo afte...
12/17/2021
J.Crew Sued by Its Former General Counsel | Corporate Counsel

“J.Crew wants to reinvent itself post-bankruptcy as a modern, inclusive brand, but the way it treated Ms. DiLorenzo after she became disabled represents the complete antithesis of those ideals,” Wigdor partner Valdi Licul said in a statement.

The GC who saw the company through bankruptcy alleges J.Crew executives failed to accommodate needs related to her disability.

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