3 lingering questions about Musk’s Twitter takeover bid
| Friday, April 15, 2022 |
TOP NEWS
3 Lingering Questions About Musk’s Twitter Takeover Bid
Tesla CEO Elon Musk’s proposal to take Twitter private for $43 billion, in the mercurial entrepreneur’s boldest move yet to shake up the social media giant, raises big legal and practical questions for both regulators and corporate directors, experts told Law360.
Elon Musk Launches $43B Takeover Bid For Twitter
Elon Musk, advised by McDermott Will & Emery LLP, has made a takeover bid for Twitter Inc. that values the social media company at more than $43 billion, and the company’s board of directors said Thursday it will “carefully” consider Musk’s offer.
Musk Slams SEC ‘Bastards’ For Allegedly Forcing 2018 Deal
Billionaire Tesla Inc. CEO Elon Musk slammed U.S. Securities and Exchange Commission officials during a public TED Talk on Thursday, saying “those bastards” allegedly forced him to “lie” and settle the regulator’s fraud charges over his now-infamous 2018 tweets in order to save Tesla.
2nd Circ. Won’t Revive Nunes’ $435M CNN Defamation Suit
A split Second Circuit declined to revive a $435 million defamation suit against CNN by U.S. Rep. Devin Nunes, R-Calif., agreeing Thursday with a New York federal judge that a California law requiring a purported victim to request an article’s retraction applies in this case.
Opinion attached | Read full article »
‘Varsity Blues’ Judge Says Pair’s ‘Arrogance’ Calls For Prison
A California couple’s “audacity and arrogance” in boosting their son’s college entrance exam scores through bribes to the “Varsity Blues” ringleader warrant the eight-week jail term outlined in their plea deals with prosecutors, a Boston federal judge said Thursday.
Calif. Judge OKs VR Theme Park’s $45M Broken Deal Award
A California federal judge has upheld a $45 million arbitral award against an entertainment developer’s would-be partner after their joint venture to create immersive “Westworld”-style virtual reality theme parks went sour.
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Loeb & Loeb Atty Can’t Delay Trial In Suit By Redstone’s Ex
A Loeb & Loeb LLP trusts and estates attorney can’t delay a May trial date over allegations she tricked media mogul Sumner Redstone’s ex-girlfriend out of an apartment, with a California judge ruling Thursday that — among other reasons — she missed the window for filing a second summary judgment motion.
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INTELLECTUAL PROPERTY
Newsweek To Settle Instagram Embed Copyright Suit
Newsweek has come to an agreement to settle with a Los Angeles photographer in a copyright dispute over embedded Instagram posts, less than a month after a New York federal judge shot down dueling bids for victory from both parties.
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Billy Joel, Architect Settle Stolen Home Design Suit
World-renowned musician Billy Joel and a contractor who accused him and others of stealing copyrighted designs for a home renovation project told a New York federal court on Thursday that they have settled their dispute.
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IP Forecast: NetScout To Wrestle With Patent Biz In Texas
Massachusetts software business NetScout Systems is set next week to be the first tech company to fight infringement claims lodged by patent-holding company Longhorn HD in front of a federal jury in Marshall, Texas. Here’s a look at that case — plus all the other major intellectual property matters facing the court in the coming week.
PRIVACY & CONSUMER PROTECTION
Political Site The Hill Shares Data With Facebook, Suit Says
Nexstar Media Group Inc. was hit with a proposed class action by readers of political news site The Hill who claim the multibillion-dollar company is knowingly disclosing personally identifiable information or viewing data with Facebook.
Complaint attached | Read full article »
COMPETITION
DC AG Wants Another Shot At Antitrust Suit Against Amazon
The District of Columbia’s attorney general on Thursday asked D.C.’s Superior Court to reconsider a decision to toss its case accusing Amazon of stifling competition, arguing that a judge’s ruling from the bench ignored key facts and misapplied antitrust law.
Motion attached | Read full article »TELECOMMUNICATIONS
GOP Sen. Wants FCC Action On Broadband Utility Pole Costs
A Senate Republican on the panel that oversees the Federal Communications Commission has turned up pressure on the FCC to clear hurdles to broadband build-out, especially as disputes persist over the costs of upgrading utility poles.
Letter attached | Read full article »INSURANCE
Developer Loses $500M Virus Coverage Appeal At 4th Circ.
A sports and entertainment real estate developer lost its $500 million appeal for coverage of its pandemic losses when a Fourth Circuit panel ruled Thursday that the developer failed to show any material destruction or harm to its properties.
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76ers’ Insurer Rips Virus Coverage Suit, Says Hoops Are Intact
The insurer for the Philadelphia 76ers has told a Pennsylvania federal court that a virus exclusion in the team’s policy dooms its lawsuit for coverage of pandemic-related losses at its arena and New Jersey training facility, remarking that the basketball hoops are in the same physical condition.
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PERSONAL INJURY & MEDICAL MALPRACTICE
Texas Panel Tosses Claims Against ‘My 600-lb Life’ Producer
A Texas appellate panel on Thursday dismissed negligence, intentional infliction of emotional distress and fraudulent inducement claims against the production company behind the reality show “My 600-lb. Life” after determining that the claims are barred under a state free speech law.
Opinion attached | Read full article »
Crowd Surfer Gets 2nd Shot At Suit Against Security Firm
A security firm can’t sidestep a concertgoer’s lawsuit claiming it is responsible for a fall he suffered after crowd-surfing at a metalcore and punk rock event, an Indiana appeals court ruled Thursday, saying the guards may have assumed a duty of care to patrons participating in the banned activity by helping them to their feet.
Opinion attached | Read full article »
LA Dodger Fans Allege Excessive Force By Team Security
Three different groups of “passionate and supportive baseball fans” got more than just peanuts and Cracker Jack at Los Angeles Dodgers home games last season, according to three lawsuits filed in California state court alleging unprovoked beatings and arrests at the hands of the team’s overzealous security employees.
3 documents attached | Read full article »EXPERT ANALYSIS
Remembering An Underappreciated Legal Skill — Listening
Education around listening skills is often neglected amid the dominance of visual media and written communication, and failed lawyering often comes down to an inability to listen accurately, so educators and law firms must prioritize the skill in their training programs, says James Flynn at Epstein Becker.
Dems Focus On Lower Courts After Securing Jackson’s Seat
After celebrating the swift confirmation of Judge Ketanji Brown Jackson to the U.S. Supreme Court, Democrats are pushing to fill as many lower court vacancies as possible in the months before the midterm elections.
9th Circ. Judge Wants Ex-Clerk Appointed If She Steps Down
Ninth Circuit Judge Johnnie B. Rawlinson is considering taking senior status and is hoping to see a former clerk appointed as her successor if she moves into semi-retirement, the court confirmed to Law360 on Thursday.
Analysis
Trump’s Russia Collusion Suit: A RICO Defense Atty’s Dream?
Former President Donald Trump’s sweeping RICO lawsuit accusing Hillary Clinton and others of “maliciously” painting Trump and his 2016 campaign as Russian assets appears likely to face a bumpy legal path in court, with experts saying his claim seemed to be time-barred and lacking specificity.
Trump Spokesman Denied Notice Of Financial Doc Production
A D.C. federal judge on Thursday ruled that a spokesman for former President Donald Trump cannot compel JPMorgan Chase Bank NA to give at least 10 days’ advance notice before producing any additional private financial records to the House select committee investigating last year’s deadly U.S. Capitol attack.
California Bar’s Weak Policies Let Off Bad Attys, Audit Finds
The State Bar of California has repeatedly let off attorneys who have been accused dozens of times of stealing from their clients, the state’s auditor said in a report released Thursday, pointing to weak policies that often keep patterns of serious misconduct secret and unpunished.
Ill. Judge Won’t OK New Girardi Keese Fee Complaint For Now
An Illinois federal judge said Thursday he would put off ruling on Edelson PC’s bid to file additional claims against ex-Girardi Keese partners David Lira and Keith Griffin until he rules on pending motions for summary judgment and the firm files a separate racketeering complaint in California.
Legal Tech Co. Filevine Secures $108M Series D
Legal work platform Filevine has become the latest legal tech company to haul in a new investment, with $108 million in Series D funding announced Thursday.
New Pro Bono Portal Will Offer Legal Assistance To Ukrainians
Legal tech company Paladin said Thursday that it has partnered with Ukrainian aid organization Legal Development Network to launch a pro bono portal to facilitate legal assistance for Ukrainians affected by Russia’s invasion of the country.
NFL Concussion Firm Hit With TRO Bid Over Fees
Litigation funder Balanced Bridge Funding LLC says Mitnick Law Office owes it more than $3 million in attorney fees from the NFL concussion settlement and asked a Pennsylvania federal court Thursday to freeze any additional fees likely to be paid out following the removal of controversial race norms in the settlement.
Uniloc, Apple Say No Do-Over Needed On Seal Decision
Lawyers from Uniloc USA Inc. and Apple Inc., which are on opposite sides of a technology patent fight, found common ground Wednesday in response to a do-over bid at the Federal Circuit from digital rights group Electronic Frontier Foundation.
Judge Says TD Bank Isn’t Liable For Firms’ Embezzled Cash
A Pennsylvania federal judge has dismissed two small firms’ claim that TD Bank was negligent in accepting fraudulent checks from an employee who allegedly embezzled $130,000 from the firms.
UK Litigation Roundup: Here’s What You Missed In London
This past week in London has seen the head of London’s police service sued by an insurer, an athlete’s investment group in trouble and two gambling companies at odds with each other. Here, Law360 looks at these and other new claims in the U.K.
