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Ninth Circuit Rules That Employers Cannot Use Employees’ Salary Histories to Justify Paying Women Less Than Men

April 30th, 2018

Earlier this month, the Ninth Circuit Court of Appeals, the highest federal court in California, issued a significant decision that could ultimately have national implications for women fighting to be paid equally with their male peers.  In Rizo v. Yovino, a female math consultant sued the superintendent of a California school district under the Equal Pay Act – a federal law that prohibits...

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The Third Circuit Weighs FTC Enforcement Power Against Abusive Pharmaceutical Brands

April 27th, 2018

Under FDA regulations, any interested person may petition the FDA to issue, amend, or revoke a regulation or order, or to take or refrain from taking any other form of administrative action.  Called Citizens Petitions, these submissions are an important avenue for communication with the FDA and, at base, an exercise of First Amendment rights.  In practice, however, Petitions have become a...

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Ninth Circuit Holds that Shareholders Must Only Show Negligence to Bring Claims in Tender Offer Cases Under the Exchange Act

April 27th, 2018

On April 20, 2018, the Ninth Circuit ruled in Gary Varjabedian v. Emulex Corp., et al. that claims brought under Section 14(e) of the Securities Exchange Act of 1934 (the “Exchange Act”) require a showing of negligence rather than scienter.  In its decision, the court expressly rejected holdings by the Second, Third, Fifth, Sixth and Eleventh Circuits that Section 14(e) requires a showing...

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Delaware Court of Chancery Partially Denies Motion to Dismiss Waste Claim in Shareholder Derivative Suit Filed on Behalf of CBS Corporation

April 26th, 2018

On April 19, 2018, the Court of Chancery partially denied defendants’ motion to dismiss plaintiff’s corporate waste claim against certain directors and officers of CBS Corporation (“CBS” or the “Company”).  The derivative lawsuit alleged that around May 2014, Sumner Redstone (“Redstone”), controlling stockholder, former Executive Chairman and former Chairman Emeritus of CBS,...

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Yahoo! Agrees to Pay $35 Million SEC Fine for Failing to Disclose Massive Cybersecurity Breach

April 25th, 2018

On April 24, 2018, the United States Securities and Exchange Commission (“SEC”) announced that Altaba, formerly known as Yahoo!, agreed to pay a $35 million penalty to settle claims related to Yahoo’s failure to promptly disclose a massive data breach that the company experienced in December 2014.  Yahoo learned of the data breach within days of the December 2014 attack but did not...

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