Latest news with #GibsonDunn
Yahoo
15 hours ago
- Business
- Yahoo
U.S. Department of Justice Drops All Charges Against Andrew Wiederhorn, FAT Brands, William Amon, and Rebecca Hershinger
LOS ANGELES, July 29, 2025 (GLOBE NEWSWIRE) -- The United States Attorney for the Central District of California has filed a motion to dismiss all charges against Andrew 'Andy' Wiederhorn, FAT Brands Inc. (NASDAQ: FAT), Rebecca Hershinger, and William Amon. Mr. Wiederhorn and his legal team have consistently maintained his innocence, and that the events described involved no criminal conduct, no victims, and no financial losses. 'From day one, we have maintained Andy's innocence,' said Nick Hanna, of Gibson Dunn, counsel for Mr. Wiederhorn and the former U.S. Attorney for the Central District of California. 'We are extremely grateful that the U.S. Attorney's Office listened to our arguments and determined, in the interests of justice, that all charges should be dropped.' 'We have said from the beginning that this is a case with no victims, no losses, and no crimes,' added Douglas Fuchs of Gibson Dunn and counsel to Mr. Wiederhorn. 'Today, the U.S. Attorney took the appropriate step of dismissing the indictment.' 'I am grateful to the U.S. Attorney's Office for taking a fresh look at this case and to the attorneys who worked tirelessly on my behalf and on behalf of the other defendants,' said Andy Wiederhorn. 'With this indictment behind us, I look forward to focusing on the continued growth and success of FAT Brands.' FAT Brands Inc. is a global restaurant franchising company with a portfolio of 18 restaurant concepts and over 2,300 locations worldwide. With the DOJ matter closed, FAT Brands is poised to continue to build on recent growth, with over 1,000 units in its development pipeline, approximately 120 signed development agreements year-to-date, and more than 100 new store openings anticipated this year. The company's franchising model, co-branding options, and well-established restaurant concepts – including Fatburger, Johnny Rockets, Round Table Pizza, and Twin Peaks, a subsidiary of Twin Hospitality Group Inc. (NASDAQ: TWNP) – position it as a leader in the global dining landscape. About FAT (Fresh. Authentic. Tasty.) BrandsFAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual, casual and polished casual dining restaurant concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza®, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo's Cafe & Express, Hurricane Grill & Wings, Native Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit Forward Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings and FAT Brands' pipeline of new store locations. These statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents filed by FAT Brands from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release. MEDIA CONTACT: Erin Mandzik, FAT Brandsemandzik@ 860-212-6509Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16 hours ago
- Business
- Yahoo
U.S. Department of Justice Drops All Charges Against Andrew Wiederhorn, FAT Brands, William Amon, and Rebecca Hershinger
LOS ANGELES, July 29, 2025 (GLOBE NEWSWIRE) -- The United States Attorney for the Central District of California has filed a motion to dismiss all charges against Andrew 'Andy' Wiederhorn, FAT Brands Inc. (NASDAQ: FAT), Rebecca Hershinger, and William Amon. Mr. Wiederhorn and his legal team have consistently maintained his innocence, and that the events described involved no criminal conduct, no victims, and no financial losses. 'From day one, we have maintained Andy's innocence,' said Nick Hanna, of Gibson Dunn, counsel for Mr. Wiederhorn and the former U.S. Attorney for the Central District of California. 'We are extremely grateful that the U.S. Attorney's Office listened to our arguments and determined, in the interests of justice, that all charges should be dropped.' 'We have said from the beginning that this is a case with no victims, no losses, and no crimes,' added Douglas Fuchs of Gibson Dunn and counsel to Mr. Wiederhorn. 'Today, the U.S. Attorney took the appropriate step of dismissing the indictment.' 'I am grateful to the U.S. Attorney's Office for taking a fresh look at this case and to the attorneys who worked tirelessly on my behalf and on behalf of the other defendants,' said Andy Wiederhorn. 'With this indictment behind us, I look forward to focusing on the continued growth and success of FAT Brands.' FAT Brands Inc. is a global restaurant franchising company with a portfolio of 18 restaurant concepts and over 2,300 locations worldwide. With the DOJ matter closed, FAT Brands is poised to continue to build on recent growth, with over 1,000 units in its development pipeline, approximately 120 signed development agreements year-to-date, and more than 100 new store openings anticipated this year. The company's franchising model, co-branding options, and well-established restaurant concepts – including Fatburger, Johnny Rockets, Round Table Pizza, and Twin Peaks, a subsidiary of Twin Hospitality Group Inc. (NASDAQ: TWNP) – position it as a leader in the global dining landscape. About FAT (Fresh. Authentic. Tasty.) BrandsFAT Brands (NASDAQ: FAT) is a leading global franchising company that strategically acquires, markets and develops fast casual, casual and polished casual dining restaurant concepts around the world. The Company currently owns 18 restaurant brands: Round Table Pizza®, Fatburger, Marble Slab Creamery, Johnny Rockets, Fazoli's, Twin Peaks, Great American Cookies, Smokey Bones, Hot Dog on a Stick, Buffalo's Cafe & Express, Hurricane Grill & Wings, Native Grill & Wings, Pretzelmaker, Elevation Burger, Yalla Mediterranean and Ponderosa and Bonanza Steakhouses, and franchises and owns over 2,300 units worldwide. For more information on FAT Brands, please visit Forward Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings and FAT Brands' pipeline of new store locations. These statements are subject to significant business, economic and competitive risks, uncertainties and contingencies, many of which are difficult to predict and beyond our control, which could cause our actual results to differ materially from the results expressed or implied in such forward-looking statements. We refer you to the documents filed by FAT Brands from time to time with the Securities and Exchange Commission, such as our reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other risks and uncertainties that could cause our actual results to differ materially from our current expectations and from the forward-looking statements contained in this press release. We undertake no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release. MEDIA CONTACT: Erin Mandzik, FAT Brandsemandzik@ 860-212-6509Inicia sesión para acceder a tu cartera de valores
Business Insider
18-07-2025
- Business
- Business Insider
Inside the AI boom that's changing how Big Law attorneys work
DLA Piper rolls out Microsoft Copilot firmwide Assess: DLA Piper has defended Microsoft in a defamation suit over AI-generated content and helped OpenAI put forward its views to Congress on how AI should be regulated. It's leaning into the tech internally, too. Danny Tobey, chair of DLA Piper's AI and data analytics practice, said the firm has an internal group of lawyers and technologists who test tools and develop metrics for quality and accuracy. The team runs A/B tests on real cases, comparing results from traditional legal teams against AI-assisted ones to evaluate performance across speed, accuracy, and cost. Apply: Microsoft has highlighted DLA Piper as the first major law firm to adopt Copilot firmwide, after starting with several hundred licenses in late 2023. Lawyers use Copilot within their existing Microsoft 365 apps, Tobey said. Think drafting documents, poring over spreadsheets, and creating PowerPoint slides. For more advanced legal research and analysis, he said, attorneys turn to legal-specific tools like Harvey, CoCounsel, and LexisNexis Protégé. DLA Piper has also developed custom language models to help clients spot compliance risks early, including under laws like the Foreign Corrupt Practices Act and the Anti-Kickback Statute. "We've found a number of issues before they metastasized into outright violations," Tobey said, "and that allowed the company to step in and do some education and compliance refreshing before there was a problem." Align: Tobey said the firm provides detailed training for lawyers on how to use its tools. "We train on a per-tool basis because they all have strengths and weaknesses," Tobey said. "If you were a doctor, you would not adopt a new tool without being trained in its limitations." Gibson Dunn pilots ChatGPT Enterprise with its lawyers and staff Assess: Before adopting any tool, Gibson Dunn runs a three-step review process, said Meredith Williams-Range, the firm's chief legal operations officer. Tools must first pass an internal audit covering security, privacy, and risk. Next, they undergo proof-of-concept testing with a small group. Finally, tools must demonstrate real value to lawyers through hands-on use, a process that can take days or, as with a Harvey pilot, stretch over several months. Apply: ChatGPT Enterprise is one tool making its way through Gibson Dunn's internal processes. In June, the firm launched a pilot with more than 500 participants — a mix of lawyers and staff — to put the product through its paces. Williams-Range said she emailed practice group leaders and managing partners around the world, asking them to submit lawyers willing to test the tool. Three days later, 450 people had signed up — more than twice what she expected. Gibson Dunn says it's also evaluating using rival AI models Google Gemini and Claude Enterprise. The firm works with a range of vendors, including Harvey, Thomson Reuters, and Microsoft. Some tools, like Harvey and CoCounsel, are used to support legal work, while Copilot helps with administrative tasks. For more specific use cases, the firm collaborates with developers to build custom workflows tailored to its practices and data, Williams-Range said. Align: The firm's AI policy is reviewed quarterly to stay current with changing regulations, she said. It also includes a procurement playbook with specific terms around security and how it shares learnings about the tools. Gibson Dunn also has a strategic advisory board made up of over 30 partners across offices globally. This brain trust meets monthly to guide policy decisions, debate use cases, and determine whether tools like ChatGPT Enterprise should be limited, expanded, or customized. "Just because we can doesn't mean we should," Williams-Range said, referring to the principle that guides the board's work. Sidley Austin hones prompt engineering skills during associate orientation Assess: Over her 29 years with the firm, corporate lawyer Sharon Flanagan has watched Sidley embrace new tech, but with guardrails in place. The firm formed an AI council with members from its management committee, executive committee, and strategy team to set policies and identify use cases. Sidley typically starts with small-scale rollouts to pilot new tools before expanding. Apply: Sidley has explored a range of AI tools, says Jane Rheem, Sidley's chief data and AI officer — from legal-specific platforms, to broader foundation models, to point solutions that help with timekeeping or narrative writing. The firm declined to identify the AI tools it's testing, saying it doesn't want to endorse products that may not be part of its long-term strategy. Flanagan says uptake has been organic among litigators and corporate and regulatory attorneys. Align: Implementation is only the beginning, Rheem says. The firm tracks usage after deployment, gathering data and feedback from "superusers" — early adopters who experiment broadly and flag where tools are working (or not). Sidley is also focused on making sure its youngest lawyers are fluent in the tools. This year, nearly 300 incoming associates participated in a generative AI hackathon as part of their orientation. Ropes & Gray uses AI tools like Harvey and Hebbia to squeeze more hours out of the day Assess: When Ropes & Gray finds an AI service it likes, Ed Black and the IT and practice technology teams put on their investment banker hats. "We phone them up every few weeks and say, 'Tell us about your updates,'" said Black, the firm's technology strategy leader. Before a tool can move to testing, it must pass a security and risk audit; only "qualified vendors" make it to the next phase. From there, testing is twofold. First, a technical evaluation by the firm's technology team aims to ensure the product works as promised. Then a second round with lawyers examines usability and actual value in practice. Apply: Ropes & Gray rolled out Harvey firmwide in June, after a year of use with a smaller test group, Black said. The firm has also collaborated with Harvey on a "workflow builder" that lets users design and deploy custom agents — software that can carry out tasks on its own. Hebbia, an AI agent company focused on professional services, has proven particularly useful to lawyers like Melissa Bender, a partner in the asset management group and cohead of the private funds practice. When institutional investors need fund documents reviewed, Bender uses Hebbia to extract key terms and speed up summaries. She estimates the process now takes two to three hours, less than what would typically be a 10-hour matter. Align: Black stresses responsible use of the tools, starting with the principle that the results of using these tools are first drafts, not the final product. The private funds practice requires tool-specific training for junior and mid-level associates, Bender says, while more senior lawyers are "strongly encouraged" to take the training. The goal is to ensure lawyers know how to use the tools appropriately and empower them to speak with clients about the firm's technology capabilities. "We are in the business of selling legal services," Bender said. "I want our associates to understand the differentiated nature of our offering." Morgan Lewis requires staff to get credentialed before they can use the tools Assess: At Morgan Lewis, the first step in adopting AI isn't picking the tool. It's diagnosing the problem, said attorney Timothy Levin, who leads the firm's investment management practice. Understanding how legal work can be improved with AI is important to ensure tools are applied where they can have a real impact, rather than just throwing tech at a problem, Levin said. Once a tool passes security and risk checks, it's piloted by an attorney and C-suite advisory group spanning 15 practice areas and firm operations — a cross-section designed to vet the tool's value across the firm's legal work. Apply: Morgan Lewis has been inundated with startup pitches, says Colleen Nihill, its chief AI and knowledge officer, as the legal tech gold rush draws a wave of new founders. To cut through the noise, Morgan Lewis favors larger enterprise partners that align with its technical standards. For example, Thomson Reuters is a strategic partner. The firm's advisory group meets regularly with Thomson Reuters to review existing tools, preview the product road map, and beta test unreleased features. They also collaborate to co-develop tools tailored to Morgan Lewis's needs. One use case at Morgan Lewis involves reviewing fund documents for institutional investors, where CoCounsel Core helps attorneys summarize key terms and flag client-specific dealbreakers. Align: Nihill said the firm requires its staff to get credentialed for tools before they can use them. Partners and firm leadership were the first to get CoCounsel Core-certified, a process that included Coursera-based coursework, hands-on exercises, and a final assessment. Once certified, users receive a digital badge displayed on their internal profiles. Nihill says this signals to associates that these tools aren't just approved; they're a professional priority for the firm.
Los Angeles Times
04-07-2025
- Business
- Los Angeles Times
Robert ‘Bob' Elliott Cooper dies; legendary L.A. antitrust lawyer who defended American Airlines was 85
In 1992, with the U.S. economy rebounding from a recession, several of the country's largest airlines sued each other over a price war. On one side was Continental and Northwest, which claimed larger rival American Airlines had illegally lowered fares to monopolize certain markets. With American staring down upward of $3 billion in penalties, the case went to a federal jury, which deliberated for less than three hours before returning an acquittal. After the favorable outcome for his clients was announced, Los Angeles attorney Bob Cooper quipped to a New York Times reporter that it was the legal equivalent of hitting 'a hole in one.' For Cooper, a giant in the antitrust legal defense world, the American Airlines case turned out to be one of many aces. He defended some of the country's largest and most recognizable companies from antitrust and patent lawsuits, using his Midwestern charm and expert strategy to win over juries and judges throughout the 1980s and '90s. Cooper died June 27 at his home in Indian Wells, Calif., his longtime law firm Gibson Dunn & Crutcher said. He was 85. He served as lead trial counsel for high-profile company clients such as Allergan, Callaway, Hewlett-Packard, Honeywell, Intel, Northrop Grumman, Sempra Energy and Ticketmaster. Starting at 32, he successfully defended Pfizer in antibiotics antitrust trials in Minneapolis, Philadelphia, New York and North Carolina, at the time the largest patent cases in the country. 'He was clearly one of our best trial lawyers, and I think became one of the best trial lawyers in the country,' former Gibson Dunn chair and managing partner Ken Doran said. 'He has a way of communicating that was authentic, believable, credible and persuasive.' That talent — to not just argue a case, but also make a jury believe him — earned Cooper a lengthy list of legal victories. Colleagues said his successes propelled his L.A. firm to become a white-shoe powerhouse, with offices around the globe. 'Remarkably, Bob lost only one case over all those years — and even that outcome might have been reversed had the parties chosen to pursue an appeal rather than settle,' said a memo to Gibson Dunn partners after his passing. His cause of death was listed as acute myeloid leukemia, which he was diagnosed with in 2023. 'Bob Cooper's story is a metaphor for the story of Los Angeles and California law firms going national and global at the center of the biggest cases in the world,' said Ted Boutrous, a Gibson Dunn partner. Robert Elliott Cooper was born Sept. 6, 1939, and raised in Kansas City. He attended Northwestern University and then Yale Law School, where he was editor of the Yale Law Journal. After graduating he joined Gibson Dunn, where he would work for nearly half a century. At the firm in his later years he was known as a mentor who shared cases that helped younger litigators launch their careers. He lacked the bravado and ego of stereotypical trial lawyers, always even-keeled, calm and quick to spread the credit to others on his team, colleagues said. 'One of the earliest lessons that he taught me was, if you're good at something, people will notice. You don't have to tell them,' Cooper's son Jeff said of his father. He was just as much himself in the courtroom as he was outside of it, often on a golf course cracking jokes with a Coca-Cola — he had one in his hand morning, noon or night, friends said. He would occasionally delight friends with an impromptu serenade on the violin, which he'd played since grade school. Cooper also served as president of the Los Angeles Country Club after he retired, where he in 2017 hosted the Walker Cup, a popular amateur golf tournament. Cooper is survived by his wife, Elaine; children Jeff, Greg and Kathy; and three grandchildren, Amanda, Eli and Robert.
Independent Singapore
26-06-2025
- Business
- Independent Singapore
Singapore hammers down on crypto firms serving overseas clients, no grace period given
SINGAPORE: The Monetary Authority of Singapore (MAS) has issued a stern ultimatum to cryptocurrency service providers: stop serving foreign clients from Singapore without a licence — or face jail time and fines. Effective June 30, 2025, all digital token service providers (DTSPs) based in Singapore must obtain a formal licence to offer services to overseas customers, or immediately cease such operations. Failure to comply could result in up to three years' imprisonment and fines reaching S$250,000 (USD 200,000). This directive, announced under Section 137 of the Financial Services and Markets Act 2022, marks one of the most uncompromising crypto crackdowns in the region. There are 'no backdoors' Unlike during previous regulatory shifts, no transition period will be granted. Unlicensed companies must shut overseas-facing operations or relocate — with many already doing so. 'Singapore is cleaning house,' said Hagen Rooke, a partner at Gibson, Dunn & Crutcher. 'It's de facto shutting down the industry that was operating on the fringes.' MAS has justified the move by citing heightened money laundering risks, especially for firms that operate in opaque jurisdictions but claim Singapore as their regulatory home. 'If a business is incorporated in Singapore, it is considered to be operating in Singapore — regardless of where its customers are,' MAS stated. That effectively shuts the door on firms using the city-state as a springboard for unregulated overseas ventures, closing off a loophole long criticised by international regulators for leaving open the possibility of money laundering. Hong Kong and Dubai emerge as alternatives Industry fallout has already begun. Exchanges like Bitget and Bybit are reportedly relocating teams to Hong Kong and Dubai, where governments have taken a more permissive stance on digital asset innovation. 'Singapore took a reputational hit during the crypto winter,' said Yuankai Lin, partner at RPC, referring to the collapse of high-profile ventures like Terraform Labs, whose founder Do Kwon was linked to Singapore during his attempted global evasion. See also Singapore's pain, HK's gain Now, Singapore is tightening its regulatory perimeter to restore global confidence in its financial oversight. Why now? In the aftermath of the 2022 crypto crash and mounting global scrutiny, MAS appears to be reinforcing its position as a regulator of financial integrity, prioritising oversight over innovation. The move is designed to prevent regulatory arbitrage — the practice where crypto companies register in Singapore but operate in unregulated foreign markets. Only firms with robust anti-money laundering (AML) and counter-financing of terrorism (CFT) frameworks will be eligible for the new DTSP licence. Existing licences under the Securities and Futures Act, Financial Advisers Act, or Payment Services Act will exempt companies from reapplying. Strategic repositioning Singapore's message is clear: if you want to do crypto, do it right or don't do it here. While this may drive some players away, analysts say it is also a strategic repositioning — a move that distances Singapore from crypto's 'Wild West' image and prepares it for a more regulated, institutional future in digital assets. 'MAS is plugging gaps,' said Rooke. 'They're taking the regulator's role seriously — even if that means shrinking the industry.' A future with fewer loopholes In the coming months, many eyes will be on who stays, who leaves — and who gets licensed . And while this may mean Singapore loses some crypto volume in the short term, the long-term gain may be far more valuable — trust . As the city-state doubles down on oversight, many observers are hopeful that this is only the beginning of a broader cleanup. The fight for financial integrity doesn't end with a single directive. It is a continuous pursuit — one that requires plugging not just existing loopholes, but anticipating new ones before they form. In a space defined by speed and complexity, Singapore's stand shows that clarity, caution, and credibility may still be the most powerful currencies of all.
