All articles tagged with #business and law
A Virginia jury found the Society for Human Resource Management liable for violating the Americans with Disabilities Act by revoking a job offer over a service dog request, resulting in a $400,000 compensatory damages award.
The Federal Trade Commission and seven states have petitioned a federal judge to hold Martin Shkreli in contempt for allegedly violating a 2022 lifetime ban on the pharmaceutical industry. The filing claims Shkreli traded in at least 60 pharma stocks and publicly commented on industry management since his release from prison. Regulators seek forced divestment of his holdings, fines based on trading profits, and potential incarceration for future breaches.
Leaked documents from the Cyprus Confidential investigation suggest that Eugene Tenenbaum, a close associate of Roman Abramovich, misled a UK court in a 2008 case regarding Siberian oil fields. The files indicate that Tenenbaum authorized transactions related to the joint venture before testifying that he had no knowledge of them. Additionally, the records reveal a broader pattern of backdating documents to evade taxes and hide assets, involving Deloitte Cyprus and other advisers. Abramovich and Tenenbaum deny the allegations, citing reliance on professional advice.
The U.S. Supreme Court heard oral arguments in Anderson v. Intel Corp. Investment Policy Committee on October 6, 2026, focusing on whether retirement plan underperformance claims require a 'meaningful benchmark.' Justices appeared skeptical of allowing lawsuits based solely on low returns without comparing similar investment strategies. Legal experts predict the Court will side with Intel, potentially affirming the Ninth Circuit’s ruling. This decision is expected to influence the Department of Labor’s upcoming rules on alternative investments in 401(k) plans, which have faced shifting regulatory policies since 2020. While the case does not ban private funds, it may set a higher legal standard for proving fiduciary imprudence, affecting how employers approach private market investments in retirement plans.
A federal lawsuit filed in Seattle alleges that eight Starbucks protein beverages marketed as 'sugar-free' contain significant amounts of sugar, with some versions holding more than a Reese's peanut butter cup. The suit, brought by Hagens Berman on behalf of three consumers, claims the labeling is deceptive and violates federal regulations. Starbucks defends its position by stating the sugar comes from protein-boosted milk, not added sweeteners, and asserts it clearly disclosed nutritional facts. The company, which launched these drinks in September 2025 to compete with rivals like Dutch Bros, intends to vigorously defend against the claims of false advertising.
A Delaware court canceled a billion-dollar trial between Warren Buffett's Berkshire Hathaway and the Haslam family over the valuation of the Haslam's 20% stake in Pilot Travel Centers. The trial was set to resolve a dispute involving accounting methods that affected the stake's value, with accusations of accounting tricks from both parties. The outcome hinged on whether Berkshire was required to obtain the Haslams' consent for an accounting change. The trial's cancellation occurred shortly after the death of Charlie Munger, Buffett's long-term confidante, and was to feature testimony from Buffett's designated successor, Greg Abel.
A coalition of lawyers and investors is planning to challenge the diversity, equity, and inclusion (DEI) policies of major companies, arguing that these policies may violate corporate law by not hiring the best talent and potentially breaching duties to shareholders. They also suggest that if HR policies are not applied equally across different racial or religious groups, companies could be violating federal employment laws. This movement is an extension of the ongoing debate over free speech and antisemitism on college campuses and represents a new front in the fight against corporate DEI initiatives. The group intends to request HR data from companies to potentially build legal cases.