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Second Circuit Vacates $16.1 Billion Judgment in Long‑Running Litigation Against Argentina: Practical Takeaways for U.S. Sovereign Litigation and Enforcement Strategy

Thu, 02 Apr 2026 15:48:00 Z

The U.S. Court of Appeals for the Second Circuit in Petersen Energía Inversora S.A.U. v. Argentine Republic reversed the U.S. District Court for the Southern District of New York $16.1-billion money judgment arising from a decade-long U.S. litigation over Argentina’s 2012 renationalization of the Argentine oil and gas company, YPF S.A.

Trump Administration Issues Proposed Federal Contract Clause Prohibiting DEI Activities

Mon, 30 Mar 2026 16:48:00 Z

On March 26, 2026, President Trump issued a new executive order: “Addressing DEI Discrimination by Federal Contractors” marking a continuation of the Administration’s comprehensive effort to discourage and punish diversity, equity, and inclusion (“DEI”) programs and practices in U.S. businesses and institutions.

Federal Circuit Patent Watch: Reasonable Royalty Not Necessarily Unreliable When It Uses Royalty Base Associated With Unaccused Products

Mon, 30 Mar 2026 14:30:00 Z

A collection of summaries of and links to recent precedential opinions by the United States Court of Appeals for the Federal Circuit.

China’s 2026 Two Sessions: A New Five-Year Cycle and Emerging Signals on Trade, Technology and Investment

Thu, 26 Mar 2026 12:00:00 Z

In March 2026, China convened its annual Two Sessions, referring to the consecutive meetings of the Chinese People’s Political Consultative Conference (CPPCC), China’s top political advisory body, and the National People’s Congress (NPC), China’s national legislature.

The SEC’s New Framework for Crypto Assets Under Howey

Tue, 24 Mar 2026 03:44:00 Z

On March 17, the Securities and Exchange Commission (SEC or Commission) issued an interpretation on the application of the federal securities laws to crypto assets, with the Commodities Futures Trading Commission (CFTC) providing related guidance on certain aspects of the Interpretation.

It’s a TRAP! California and New York Restrict “Stay-or-Pay” Provisions in Employment Agreements

Mon, 23 Mar 2026 12:27:00 Z

New CA and NY laws join other states in limiting stay‑or‑pay agreements, narrowing when employers can require repayment of training, bonuses or costs.

FRAND Quarterly: Navigating the Global SEP Landscape – March 2026

Mon, 23 Mar 2026 07:00:00 Z

Read the latest edition of WilmerHale’s FRAND Quarterly: The transition into 2026 has seen several notable developments in fair, reasonable and non-discriminatory (FRAND) litigation.

Temporary Pause on New California Reporting Requirements for Venture Capital Funds

Fri, 20 Mar 2026 16:30:00 Z

DFPI has paused enforcement of California’s FIPVCC reporting for VC funds; no April 1, 2026 filings are due, with rulemaking later in 2026.

Protecting Legal Professional Privilege in the Age of AI

Fri, 20 Mar 2026 08:00:00 Z

Artificial intelligence tools are now embedded in investigations and compliance workflows and play an increasing role in document review, witness preparation, legal advice drafting and meeting transcription.

What’s Old Is New Again: Fifth Circuit Lifts Stay, New HSR Form Is Vacated

Thu, 19 Mar 2026 23:49:00 Z

On February 13, 2026, our prior alert reported that a judge in the Eastern District of Texas vacated the Federal Trade Commission’s (FTC) Final Rule promulgating the new Hart-Scott-Rodino (HSR) form, which went into effect last year.

The Trump Administration Strikes Back: USTR Launches Dozens of New Section 301 Investigations to Restore IEEPA Tariffs

Wed, 18 Mar 2026 16:00:00 Z

USTR has initiated two sets of investigations under Section 301 of the Trade Act of 1974 that could result in the imposition of tariffs or other remedies on dozens of countries.

CFTC Seeks Public Input on Prediction Markets Regulation

Tue, 17 Mar 2026 20:58:00 Z

The CFTC issued an advanced notice of proposed rulemaking on prediction markets. Comments are due April 30, 2026.

Enforcement of Foreign Arbitral Awards in the Post-NextEra Era

Mon, 16 Mar 2026 15:54:00 Z

The DC Circuit Court of Appeals’ August 2024 decision in NextEra Energy v. Spain is reshaping the enforcement landscape for arbitral awards in US courts, particularly for awards arising from intra-EU disputes under the Energy Charter Treaty.

Personalized Pricing: What Business Lawyers Need to Know

Fri, 13 Mar 2026 12:00:00 Z

This client alert provides an overview of the legal and regulatory landscape surrounding personalized pricing, highlights key enforcement actions and legislative developments, and outlines compliance considerations for companies and their legal teams.

Federal Circuit Patent Watch: Reasonable Royalty Not Necessarily Unreliable When It Uses Royalty Base Associated With Unaccused Products

Thu, 12 Mar 2026 20:50:00 Z

A collection of summaries of and links to recent precedential opinions by the United States Court of Appeals for the Federal Circuit.

DOJ Announces Department-Wide Corporate Enforcement and Voluntary Self-Disclosure Policy

Thu, 12 Mar 2026 13:00:00 Z

On March 10, 2026, the Department of Justice (Department or DOJ) announced its first-ever Department-wide Corporate Enforcement and Voluntary Self-Disclosure Policy (CEP).

Department of the Interior Finalizes NEPA Procedures

Tue, 10 Mar 2026 13:29:00 Z

The US DOI has finalized its revised procedures for environmental reviews under the National Environmental Policy Act.

FinCEN’s 311 Action Targets Swiss MBaer and High-Risk Financial Crime

Tue, 10 Mar 2026 11:00:00 Z

FinCEN escalates use of Section 311 against non US banks: FinCEN designated Swiss bank MBaer Merchant Bank AG as a “primary money laundering concern,” proposing special measures that would effectively cut off its access to the US financial system, including the US dollar.

Trump Administration Signals Greater Private Role in Offensive Cyber Operations

Mon, 09 Mar 2026 17:30:00 Z

The Trump Administration’s new national cyber strategy points to an expanded private‑sector role in offensive cyber operations, with significant contracting opportunities and legal risk.

Trump Administration Charts Ambitious Path Toward US Critical Mineral Dominance

Thu, 05 Mar 2026 14:47:00 Z

The Trump Administration is becoming increasingly focused, and ambitious, in implementing its agenda to secure US access to critical minerals and rare earth materials.

PTAB/USPTO Update - March 2026

Wed, 04 Mar 2026 14:36:00 Z

USPTO News On February 6, USPTO updated the certification regarding the filing of anonymous requests for ex parte reexamination.

Delaware Supreme Court Upholds Constitutionality of Amendments to Delaware General Corporation Law § 144

Fri, 27 Feb 2026 16:00:00 Z

Delaware Supreme Court upholds 2025 DGCL amendments, affirming SB 21’s fiduciary‑duty safe harbors and retroactive application.

Client Alert: SDNY Launches Revised Corporate Enforcement and Voluntary Self-Disclosure Program for Financial Crimes

Thu, 26 Feb 2026 22:04:00 Z

On February 24, 2026, Jay Clayton, the US Attorney for the Southern District of New York, announced an updated Corporate Enforcement and Voluntary Self-Disclosure Program to incentivize companies to disclose illegal activity involving fraud and other financial misconduct affecting market integrity

Federal Circuit Patent Watch: Federal Circuit Affirms Liability for Patent-Related Antitrust Counterclaims—18,000+ Sales Support Substantial Non-Infringing Use

Thu, 26 Feb 2026 19:28:00 Z

A collection of summaries of and links to recent precedential opinions by the United States Court of Appeals for the Federal Circuit.

Diplomacy Meets Deal-Making: How U.S. Companies Can Harness Government Resources to Promote Overseas Investment and Operations

Thu, 26 Feb 2026 12:00:00 Z

How U.S. companies can use federal advocacy and trade tools to overcome foreign market barriers and support overseas investment and operations.

CFTC Files Amicus Brief Urging Exclusive Federal Jurisdiction of Event Contracts

Tue, 24 Feb 2026 14:00:00 Z

On February 17, 2026, the Commodity Futures Trading Commission (CFTC) filed an amicus curiae brief in the Ninth Circuit supporting North American Derivatives Exchange, Inc., d/b/a Crypto.com Derivatives North America (Nadex/Crypto.com) in its appeal of the District of Nevada’s order denying its request to enjoin Nevada gaming regulators from taking action against its sports-based event contracts.

State Regulation of Data Centers: Emerging Trends and Potential Legal Complexities

Mon, 23 Feb 2026 15:30:00 Z

State and local regulation of data centers is rapidly expanding across numerous domains driven by the AI boom and the absence of comprehensive federal oversight.

Supreme Court Strikes Down IEEPA Tariffs—What Now?

Sat, 21 Feb 2026 16:28:00 Z

On February 20, 2026, the Supreme Court held, in a 6-3 decision issued by Chief Justice Roberts, that tariffs imposed by President Trump under the International Emergency Economic Powers Act (IEEPA) are unlawful.

Sports and Gaming Law 2025 Year in Review: Top Five Developments

Tue, 17 Feb 2026 11:00:00 Z

2025 marked a period of profound transformation across the sports and gaming industries. From the explosive growth of prediction markets and robust integrity enforcement in sports betting to record-setting franchise acquisitions and name, image, and likeness (NIL) deals, the industry saw trends from prior years accelerate.

A Very Merry [Un]birthday to the New HSR Form: Texas Judge Vacates Final FTC Rule

Fri, 13 Feb 2026 17:15:00 Z

On February 12, 2026, a federal judge in the Eastern District of Texas vacated the FTC's final rule promulgating a new HSR Act premerger notification form.

FINRA Proposes to Amend its OBA and PST Rules as Part of a Rule Modernization Initiative

Fri, 13 Feb 2026 13:30:00 Z

On January 22, 2026, FINRA filed a proposed rule change with the SEC to adopt FINRA Rule 3290, which would replace existing FINRA rules on outside business activities and private securities transactions.

False Claim Act Alert – Enforcement Trends and Predictions

Tue, 10 Feb 2026 15:47:00 Z

Fiscal year 2025 was a groundbreaking year for the False Claims Act in several respects.

A Golden State Revolution May be Coming to Single Firm Conduct Rules

Tue, 10 Feb 2026 15:00:00 Z

The California Legislature may soon consider proposed legislation that could expand single-firm conduct regulation beyond the federal limits, which could have far-reaching implications for antitrust enforcement against single firm conduct and cause businesses to carefully evaluate new antitrust risk.

Federal Circuit Patent Watch: Patent Related to Web Conferencing Systems Found Patent-Ineligible

Fri, 06 Feb 2026 00:12:00 Z

A collection of summaries of and links to recent precedential opinions by the United States Court of Appeals for the Federal Circuit.

PTAB/USPTO Update - February 2026

Thu, 05 Feb 2026 19:00:00 Z

USPTO News On January 13, USPTO announced the design of SPARK, a new pilot program to incentivize meaningful participation by U.S. small and medium-sized businesses, universities, and non-profits in standards development organizations (SDOs).

Legal Developments in the Gaming Industry: Second Half of 2025

Thu, 05 Feb 2026 18:40:00 Z

The second half of 2025 involved significant legal and regulatory activity across fantasy sports, event contracts, sweepstakes casinos, and sports betting.

Readily Ascertainable—WilmerHale's Trade Secret Bulletin: December 2025

Wed, 04 Feb 2026 13:30:00 Z

This month, we cover decisions addressing the requirement for a plaintiff to define trade secrets with sufficient particularity, refining the standard for irreparable harm in the trade secret context, and imposing sanctions for the spoliation of internal documentation that could have been used to prove access to an alleged trade secret.

New California Law Imposes Reporting Requirements on Venture Capital Firms

Wed, 04 Feb 2026 09:30:00 Z

California's new FIPVCC law requires VC firms to annually report anonymized, aggregated founder demographics to boost transparency.

FTC Eyeing Acquihire Transactions in Tech Industry

Fri, 30 Jan 2026 15:14:00 Z

In remarks earlier this month, US Federal Trade Commission (FTC) Chairman Andrew Ferguson stated that the FTC intends to investigate a growing practice in the tech industry known as “acquihiring” (a portmanteau of acquiring and hiring).

DOJ Antitrust Division Announces First-Ever Whistleblower Payment

Fri, 30 Jan 2026 14:00:00 Z

On January 29, 2026, the Department of Justice Antitrust Division and the US Postal Service made their first payment under the new whistleblower program launched just last year.

FCPA Year-in-Review: 2025 Developments and Predictions for 2026

Wed, 28 Jan 2026 18:30:00 Z

This alert discusses FCPA enforcement activity thus far during President Donald J. Trump’s second term, at this point seeing reduced activity from the levels seen in prior periods and with expectations that investigations and resolutions will begin to increase.

China Tightens Sanctions and Trade Restrictions Amid US-China Trade Ceasefire

Tue, 27 Jan 2026 17:00:00 Z

China’s Ministry of Foreign Affairs (“MOFA”) on December 26, 2025 issued the country’s latest round of sanctions pursuant to its Anti-Foreign Sanctions Law (or “AFSL”), targeting US companies and US-based individuals engaged in the sale of military goods and technology to Taiwan.

Board Oversight and Artificial Intelligence Key Governance Priorities for 2026

Thu, 22 Jan 2026 15:57:00 Z

As artificial intelligence becomes increasingly embedded in business operations, Boards of Directors face new and evolving oversight responsibilities.

2026 HSR Threshold

Tue, 20 Jan 2026 16:00:00 Z

On January 14, 2026, the Federal Trade Commission (FTC) announced revised thresholds for merger notifications under the Hart-Scott-Rodino (HSR) Act.

The European Commission's New Guidelines on the EU Foreign Subsidy Regulation

Tue, 20 Jan 2026 13:30:00 Z

The European Commission’s new 2026 Guidelines clarify what constitutes a distortion of competition under the Foreign Subsidies Regulation and how the regime applies to companies operating in the EU.

Initial Reactions to the Search of a Journalist’s Residence

Fri, 16 Jan 2026 14:30:00 Z

On Wednesday morning, FBI agents searched the home of Washington Post reporter Hannah Natanson as part of a leak investigation, a notable occurrence given the potential impact on the activities of the press and corresponding implications for First Amendment protections.

Recent Decisions Quashing DOJ Administrative Subpoenas Provide a Roadmap for Companies Facing DEI-Focused False Claims Act Investigations

Mon, 12 Jan 2026 18:32:00 Z

The US Department of Justice has reportedly launched False Claims Act investigations related to corporate diversity, equity, and inclusion practices, raising the stakes for companies seeking to manage DEI legal risks in a challenging enforcement environment.

JD Vance Announces New White House/DOJ Fraud Enforcement Initiative

Fri, 09 Jan 2026 16:00:00 Z

On January 8, Vice President JD Vance announced the creation of a new position at the Department of Justice (DOJ) to conduct fraud investigations as part of an “interagency” effort that would be “run out of the White House.”

State AG Enforcement Action: Priorities for 2026

Fri, 09 Jan 2026 10:30:00 Z

After analyzing state AG enforcement priorities and developments in 2025, WilmerHale lawyers identify probable AG focus areas for 2026.

The FTC's Henkel A-Paint Challenge: A Paradigm Shift for Future FTC Merger Litigation?

Thu, 08 Jan 2026 19:29:00 Z

In a notable departure from past practice, the Federal Trade Commission (FTC) filed suit in federal district court on December 15, 2025 to permanently enjoin Henkel AG & Co. KGaA and its subsidiaries (Henkel) from acquiring A-Paint Topco, Inc. (A-Paint).