The Supreme Court ruled unanimously that UBS Securities must pay $900,000 in back-pay to a former analyst who filed a claim against the company, asserting that he should have been afforded whistleblower protection. Trevor Murray, a former research analyst at UBS, sued the firm in 2012 claiming that he was Read More
Exxon has recently filed a lawsuit against its activist investors, Arjuna Capital and Follow This, in order to stop them from filing climate-change proposals during the company’s shareholder meeting. The Exxon shareholder proposals ultimately urge the company to “go beyond current plans” to cut its greenhouse gas emissions. The lawsuit Read More
Walgreens has agreed to pay $360 million to insurance company Humana to settle a lawsuit claiming that the retail pharmacy chain overcharged for prescription drug reimbursements. In 2019, Humana brought a lawsuit against Walgreens arguing that the company had overcharged its customers by inflating medication prices for over ten years. Read More
The New York Times Co. filed a lawsuit against two of the largest artificial intelligence companies, Microsoft and OpenAI, for copyright infringement. In its complaint, the Times said that Microsoft and OpenAI illegally copied and used millions of its articles to inform and enhance each company’s AI models including OpenAI’s Read More
Oil Giant BP is clawing back $40 million in compensation from former CEO Bernard Looney, who resigned after misleading the board about past relationships with colleagues. Looney resigned as CEO in September after admitting to the board he had not been fully transparent about disclosing past relationships with colleagues when Read More
Delta Air Lines has been hit with a proposed class-action lawsuit for “grossly misrepresenting the total environmental impact of its business operations in its advertisements, corporate announcements, and promotional materials and, thereby, attaining underserved market share and extracting higher prices from consumers,” according to a new complaint filed in California Read More
A divided U.S. Supreme Court on Tuesday temporarily blocked a Texas law (HB20) that would ban social media platforms—like Facebook, Twitter, and YouTube—from moderating their content. The Texas law in question, HB20, in part, prohibits social media platforms from “censoring” the viewpoints posted by users. In effect, the law makes Read More
A new survey found that compliance professionals who possess a law degree receive, on average, a significantly higher salary than their non-J.D. counterparts. The survey, conducted by legal recruiting firm BarkerGilmore between February to March 2021 from a random sample of U.S. compliance professionals, also found that the average annual Read More
A new survey found that compensation for in-house counsel took a hit in 2020 as a result of the pandemic, with all industries reporting the smallest base salary increases in the last five years. The survey, conducted by legal recruiting firm BarkerGilmore, also found that while lawyers in consumer, healthcare Read More
The New York City Bar Association proposed a new framework it hopes will influence decisions by regulators to charge chief compliance officers in certain criminal and civil cases. The move is an attempt to quell growing concerns from enforcement actions that hold financial sector CCOs individually liable for the actions Read More
