Bloomberg Law

When drafting supply chain contracts, don't overlook the importance of due diligence clauses. In this article for Contract Nerds, Bloomberg Law's Louann Troutman explains why.   "Failing to do your due diligence could mean engaging an unreliable supplier who may not adhere to regulatory requirements and could have substandard quality control practices," says Troutman. "This could lead to not only reputational damages for your business but also legal consequences."   Read the full article for a deep dive into how due diligence clauses in transactional contracts can mitigate risk throughout the supply chain: https://lnkd.in/e82cAHNr

Lobbyists are expecting a major transformation in the way Washington works, and how they influence Congress and the executive branch, after the court’s landmark decision to overturn the Chevron deference doctrine. “This is an earth-moving event,” said Rich Gold, who runs the lobbying practice at Holland & Knight LLP. “Chevron underpins all of modern policymaking from Congress to the executive branch.” The longstanding doctrine, overturned in a 6-3 decision, meant that lower courts gave deference to executive branch agencies when they issued the regulations to implement laws Congress wrote while leaving plenty of room for interpretation. Read more from Kate Ackley: https://lnkd.in/evqYP2-8

The US Supreme Court issued its decision today overruling the 40-year old Chevron deference, which required courts to defer to agency’s reasonable interpretations of ambiguous or silent statutes. Read more from Sean Marotta and Danielle Desaulniers Stempel of Hogan Lovells on how companies should proceed now that Chevron deference is dead: https://lnkd.in/ek2UjmDp

A divided US Supreme Court threw out a decades-old legal doctrine that empowered federal regulators to interpret unclear laws, issuing a blockbuster ruling that will constrain environmental, consumer, and financial-watchdog agencies. The 6-3 decision, which came in a fight over a fishing-industry regulation, is a long-sought triumph for opponents of big government. The court overturned Chevron v. Natural Resources Defense Council, a 1984 ruling that Democratic administrations had used as a legal building block for new regulations. Read more from Greg Stohr: https://lnkd.in/ea_kse9W

The latest Inside Big Law is here: Roberta Kaplan is starting a new boutique that will focus on civil litigation, internal corporate investigations and strategic advisory. Some wonder why David Boies, one of the country’s best-known lawyers, would represent a disgraced former judge. The answer points to his passion for judicial independence. In his latest column, Roy Strom looks at how Big Law is helping power the transition to solar energy.

Our In Focus resources are editorially curated with the latest news, commentary, litigation filings, regulatory developments, and practice tools on topics of note to legal practitioners. Learn more about the latest additions to our array of legal resources: https://lnkd.in/ePjGHhHB

Federal judges on the nation’s trial and appeals courts have accepted private flights, football tickets, and thousands of dollars in cash gifts, according to an analysis of disclosure data by a judicial transparency watchdog. The study released by Fix the Court comes amid rising public scrutiny over gifts accepted by federal judges—especially Supreme Court justices—following reporting that revealed previously undisclosed gifts accepted by Justice Clarence Thomas and others. Read about some of the biggest gifts in the latest from Suzanne Monyak: https://lnkd.in/dv7h_esP

As the Supreme Court enters its last week of term, there are many important cases yet to be decided. From insurrection to Chevron doctrine, let’s take a look at some of the decisions we are waiting for. What cases are you looking forward to seeing their decisions?

Bonuses will be paid June 30 to principals, associates, and senior counsel based on billable hours ranging from $2,500 up to $30,000, McKool Smith Managing Principal and Chairman David Sochia said in a memo viewed by Bloomberg Law. Bonus amounts are determined by monthly average billables from Oct.1, 2023 through May 31 and annualized for the fiscal year, which ends Sept. 30, the memo said. Read more about bonus breakdowns from Meghan Tribe: https://lnkd.in/ddG9jrxt

Mass tort litigation has become a booming industry, with billions of dollars at stake for plaintiffs, lawyers, and investors. The litigation finance industry has taken notice, pouring money into these lawsuits attracted by the potential of high returns. In 2023, litigation funders funneled nearly $17 billion into lawsuits like the Camp Lejuene and 3M earplug cases. These suits are driven by extensive digital advertising campaigns to identify potential claimants. For law firms bringing these cases, this can lead to massive paydays. Lawyers typically take 20-40% if they’re successful, and that can amount to billions of dollars in high-profile cases. Learn more in the full version of this video featuring Emily Siegel, Linda Mullenix, and Rustin Silverstein: https://lnkd.in/ehV9Pr-U