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Thank you, Megan Rapinoe

I’d bet you’ve never heard of Denise Bence, a onetime health club manager in Detroit. In the early 1980s, Bence sued her ex-employer, the Detroit Health Corporation, for pay discrimination. All managers at Detroit Health’s chain of clubs were paid based on commissions. Women managers, who sold memberships only to female customers, received a 5% commission. Male managers, who catered to men thinking of joining the club, were paid 7.5% of the signup fee when they brought in a new membe

Equifax settlement faces objection campaign by class action disruptor

On Friday, an entrepreneur named Reuben Metcalfe posted a Medium essay entitled "You Have a Right to Object to the Equifax Settlement." Metcalfe offered a quick summary of the controversial proposed settlement, which would resolve claims by nearly 150 million Americans whose data was compromised in a 2017 breach at Equifax, arguing that for most class members, the deal is a dud. Breach victims who meet the settlement’s requirements for a payout from a much-publicized $32 million cash

O’Melveny defeats conflict allegations in trial court; trustee for ex-client vows appeal

O’Melveny & Myers and its lawyers at Gibson Dunn & Crutcher got a big win last week from U.S. District Judge Christina Snyder of Los Angeles in a case involving O’Melveny’s onetime client Aletheia. A bankruptcy trustee for Aletheia, an investment manager once entrusted with more than $2 billion in assets, had brought malpractice and breach of duty claims against O’Melveny, asserting that the law firm failed Aletheia by simultaneously representing the company and its CEO in litigation

Things are getting nasty in the 7th Circuit’s big M&A shareholder class action case

For securities litigators and deal lawyers, the consequences of two related appeals at the 7th U.S. Circuit Court of Appeals, both stemming from shareholder litigation over Akorn’s since-aborted merger with Fresenius Kabi AG, could be huge. The appeals court could provide weapons for federal judges and objecting shareholders who are skeptical about the shareholder class actions filed in the wake of M&A announcements. Or the 7th Circuit could allow plaintiffs' lawyers in M&A sharehol

FOIA dispute is latest fallout from CFTC’s aborted Kraft deal

The Commodity Futures Trading Commission’s attempt to resolve a long-running market manipulation case against Kraft Foods and Mondelez has been a giant headache for the agency: public bickering among CFTC commissioners, a threat of criminal contempt of court sanctions, a mandamus proceeding and, late last month, the dissolution of the CFTC’s $16 million deal with Kraft.

Landmark Dela. Supreme Court case asks: What is a Securities Act claim, anyway?

Arguments are firming up in Blue Apron v. Sciabacucchi, a landmark Delaware Supreme Court case that will determine whether corporations can require shareholders to sue in federal court, rather than state court, over alleged violations of the Securities Act of 1933. I told you last month about the opening brief by three companies whose forum selection clauses were deemed invalid by Vice-Chancellor Travis Laster in 2018’s Sciabacucchi v. Salzberg (2018 WL 6719718). Those corporations –

Mass tort lead generators accused of fraud by investors

Five investors who claim they were promised lavish returns for backing businesses that generate mass torts cases have filed a fraud suit in federal court in Ft. Lauderdale, alleging that they were duped about the prospects of the investment vehicle, TRC Funding.

9th Circuit rules that arbitrators must disclose ownership stakes

Our judicial system requires federal judges to adhere to an elaborate code of conduct in order to assure not only that the men and women who preside over federal litigation are people of integrity but also that they will not be prejudiced – or even appear to be prejudiced – toward one side or the other. If federal judges have a financial interest, however small, in the outcome of a case, the rules require them to step aside. Even justices of the U.S. Supreme Court, who are not bound

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