The Latest

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  Former Bed Bath & Beyond sues Hudson Bay investors for $300M

  The lawsuit states that the hedge fund reaped a short-swing profit weeks before the retailer's bankruptcy. Hudson Bay disputes the claims.

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  Fraud detector Traceable zeroes in on GenAI threats

  The startup is rolling out new AI-related threat detection capabilities on the heels of securing $30 million in funding from investors, including Citi Ventures.

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  Kabbage to pay $120M in PPP fraud settlements with DOJ

  The second-largest PPP lender in the nation by application volume “knowingly submitted thousands of false claims” and employed lax fraud controls, the Justice Department said.

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  Challenge to SEC’s proxy reporting rule dismissed by appeals court

  The Fifth Circuit Court of Appeals said the lawsuit put forward by four Republican-led states lacked standing and failed to provide evidence of alleged increased compliance costs.

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  CFPB will keep defending late fee cap

  The 5th Circuit Court of Appeals blocked the Consumer Financial Protection Bureau’s $8 late fee cap on Friday, but the federal agency said it will continue to “defend” the rule.

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  OSHA heat standard clears regulatory hurdle

  A committee has unanimously recommended that the agency advance the proposal for a heat safety rule.

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  SCOTUS decision vastly expands potential copyright damages

  In a high-profile case involving music popularized by Flo Rida and other rap artists, the top court opens the door to big awards for infringement.

  Lawsuits and Litigation

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  Red Hat’s DEI program discriminatory, lawsuit says

  A senior manager says he was fired for being white and male and retaliated against for his merit-based hiring advocacy.

  Lawsuits and Litigation

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  White House wants to hold the software sector accountable for security

  Federal officials are taking steps toward a long-stated goal of shifting the security burden from technology users to the companies that build it.

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  Garden leave could add value as noncompete alternative

  Paying outgoing employees to remain as a resource while a replacement gets up to speed could gain currency as companies seek new ways to protect their interests.  

  Emerging Issues

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  Opinion

  Microsoft is thinking out of the box on AI. Will the Biden Administration?

  Microsoft’s moves in the AI space are the kind of “nonacquisition acquisitions” that the FTC should look at closely through an antitrust lens. 

  Emerging Issues

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  Upstart subpoenaed by SEC over AI, loans

  “We are cooperating with the SEC and are unable to predict the outcome of this matter,” the fintech lender said in a filing Tuesday.

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  Mountain Express’ former CFO testifies that leadership siphoned funds

  The court also spoke with the counsel for a Mountain Express subsidiary, who said its CEOs may have funneled more than $14 million from the company.

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  California bans hidden fees starting July 1

  The state will require businesses to include all mandatory fees in listed prices, making it harder for restaurants to impose service charges.

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  16% of employees plan to quit once noncompete ban takes effect

  7% plan to start a rival business, according to a survey of 500 employees conducted by a small business lender.

  Emerging Issues

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  Opinion

  3 practical business applications for AI in corporate legal

  Legal bill review, spend management and matter management are ways that in-house legal teams can use AI in their operations today. 

  Legal Technology

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  Only 34% of firms deploy safeguards against generative AI threats: Splunk

  Generative AI gives cyberattackers an edge over cyber-defenders, according to security experts surveyed by Splunk.

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  TD begins damage control after fentanyl report

  In the "sobering" aftermath of the bank's AML crisis, executives are detailing an improvement plan and reassuring employees, but analysts are calling for change in the face of a "lost decade."

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  Listen more, talk less to get in-house role, recruiter says

  Prepare for questions you know you’re going to be asked to help ensure you give succinct answers, says Brittney McDonough of BarkerGilmore.

  Hiring/Talent

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  Regulators want clawbacks from bank execs insensitive to risk

  “[P]oorly designed financial institution compensation programs can provide incentives for short-term risk taking that can jeopardize the safety and soundness of the institution,” FDIC Chair Martin Gruenberg said.

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  Companies using Gen AI weigh regulatory and compliance risks

  Generative AI has endless use cases, but it also introduces risks amid demands for transparency, explainability and bias mitigation, executives say.

  Emerging Issues

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  17 states sue to block EEOC pregnancy accommodation rule

  The rule’s abortion accommodation provisions conflict with the Pregnant Workers Fairness Act, the plaintiffs, led by Tennessee, alleged.

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  FTC greenlights $64.5B Exxon-Pioneer merger, bars former CEO from board seat

  The Federal Trade Commission blocked the former CEO of Pioneer Natural Resources from joining the new company’s board of directors over concerns of colluding with OPEC.

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  Merchants urged to file claims for $5.5B payment card settlement

  Requests for a slice of the Visa-Mastercard settlement are due by a May 31 deadline. Lawyers are racing to alert eligible businesses.

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  How women counsel can up their board chances

  A good start is to network and talk with recruiters while you’re still in your in-house or outside counsel role, the head of an executive network says.

  Hiring/Talent

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