September 18, 2024 | Corporate Counsel
GameStop CEO Fined $1M for Failing to Disclose Wells Fargo InvestmentBy March 2018, Ryan Cohen had amassed more than $100 million in Wells Fargo shares, the threshold for disclosure under the Hart-Scott-Rodino Act. But he didn''t submit the required filing until January 2023.
By Maria Dinzeo
3 minute read
September 18, 2024 | Corporate Counsel
Confusion Over New SEC Cyber Rules Leading Firms to Overstate Attack Readiness"We believe—and evidence shows—that the SEC's new rule sets a high bar that most companies and their investors cannot achieve today," the report says.
By Maria Dinzeo
6 minute read
September 11, 2024 | Corporate Counsel
Norfolk Southern Fires Legal Chief and CEO, Saying They Had Inappropriate RelationshipThe company dismissed Nabanita Nag, effective immediately. She joined the rail giant in 2020 and received a major promotion two years later.
By Maria Dinzeo
3 minute read
September 11, 2024 | Corporate Counsel
$10M John Deere Bribery Settlement Underscores Risks of Not Integrating AcquisitionsThe Securities and Exchange Commission said that in the three years after Deere bought Wirtgen Thailand, the unit plied government officials with cash, massage parlor visits and lavish sightseeing trips to Europe. regulator found Illinois-based John Deere failed to integrate Wirtgen Thailand, a former German outfit into its existing compliance and controls environment after acquiring Wirtgen Group in 2017, resulting in "bribery schemes going unchecked for several years," the SEC's FCPA division enforcement chief Charles Cain said in a statement. "This action is a reminder for corporations to promptly ensure newly acquired subsidiaries have all the necessary internal accounting control processes in place."
By Maria Dinzeo
4 minute read
September 09, 2024 | Corporate Counsel
Ex-Twitter GC Joins Match Group as Legal ChiefSean Edgett had been at Twitter a decade when Elon Musk bought it for $44 billion in 2022 and immediately fired him and the rest of the leadership team.
By Maria Dinzeo
3 minute read
September 09, 2024 | Corporate Counsel
Longtime GC of Nation's Sixth-Largest Bank to RetirePNC Financial's Gregory Jordan is retiring as legal chief but will stay with the bank as vice chair, a role that will focus on advising the CEO and board.
By Maria Dinzeo
2 minute read
September 06, 2024 | Corporate Counsel
In-House Lawyers Weigh In on How AI Will Revolutionize Dispute ResolutionFor years, China has employed AI agents as online "robot judges." Could that happen here?
By Maria Dinzeo
6 minute read
September 06, 2024 | Corporate Counsel
Throng of Workers Using AI Off the Grid Unwittingly Aiding CybercriminalsAI adoption has risen so much so quickly that the average knowledge worker puts more corporate data into AI tools on Saturday or Sunday than the middle of the workweek a year ago, a Cyberhaven study found.
By Maria Dinzeo
4 minute read
September 05, 2024 | Corporate Counsel
California DOJ Fines Robinhood $3.9M in First-Ever Crypto Enforcement ActionThe company, which also is facing a U.S. Securities and Exchange Commission inquiry, finds itself in regulators' crosshairs despite legal chief Dan Gallagher's pledge to improve the company's compliance culture and work collaboratively with regulators.
By Maria Dinzeo
3 minute read
September 04, 2024 | Corporate Counsel
Disney's Black Eye Over Arbitration Gambit Likely to Linger, Underscoring PR Risks of Spurning Courts"What resonates longer is the way that people will feel about Disney, not the recollection of why they feel that way," said Aaron Davis, a partner at Davis Goldman.
By Maria Dinzeo
6 minute read