Category: 3. Business

Effective 1 December 2025, Federal Rule of Civil Procedure 16.1 introduces the first formal procedural framework tailored to multidistrict litigation (MDL) proceedings, aiming to address longstanding challenges in the management of complex, high-volume federal litigation.

Key Takeaways

Rule 16.1’s Purpose

The new rule provides MDL transferee courts with an optional roadmap for early case management. After the Judicial Panel on Multidistrict Litigation (JPML) consolidates actions into an MDL, the transferee court is encouraged (but not required) to take three actions aimed at effective MDL case management. First, the transferee court “should schedule an initial management conference to develop an initial plan for orderly pretrial activity in the MDL Proceedings.” Fed. R. Civ. P. 16.1(a). Second, prior to the initial management conference, the transferee court “should” order the parties to submit a pre-conference report that addresses critical issues such as consolidating pleadings, discovery, pretrial motions, and the appointment of leadership counsel. Fed. R. Civ. P. 16.1(b). Third, after the initial conference, the transferee court “should” enter an initial case management order addressing the matters in the pre-conference report. Fed. R. Civ. P. 16.1(c). 

Early Vetting of Claims

Rule 16.1 sets the stage for early scrutiny of claims by requiring parties to outline how and when they will exchange information supporting their claims and defenses. This is designed to curb the widespread filing of unverified or unsupportable claims that have plagued MDL dockets in recent years. Indeed, as explained in the Committee Notes, “after taking account of whether the party whose claim or defense is involved has reasonable access to needed information—the court may find it appropriate to employ expedited methods to resolve claims or defenses not supported after the required information exchange.”

Perspective of the Parties

The rule specifically calls for the “parties’ initial views on various matters” in the pre-conference report. Fed. R. Civ. P. 16.1(b)(3). This includes the parties’ views on “discovery, including any difficult issues that may arise,” pretrial motions, and “whether the court should consider any measures to facilitate resolving some or all actions before the court.” Fed. R. Civ. P. 16.1(b)(3). By soliciting counsel’s input on matters during the initial stages of litigation, the rule ensures that considerations from both sides inform the transferee court’s initial case management order.

Judicial Discretion

While Rule 16.1 provides a helpful framework, it does not impose mandatory obligations on transferee courts. Indeed, the rule uses conditional phrases such as “should” and “in the court’s discretion” throughout, and the Committee Notes confirm the rule is intended as guidance rather than a mandate. See Fed. R. Civ. P. 16.1(a), (c), and Committee Notes. Its effectiveness, then, will depend on judicial willingness to implement the rule’s recommendations.

Looking Ahead

As of December 2025, there were over 340,000 cases consolidated across 157 active federal MDLs.¹ For years, the absence of clear procedural rules in MDLs led to ad hoc management and inconsistent vetting of individual claims. Rule 16.1 changes that dynamic. By introducing a structured framework and equipping transferee courts with tools to enhance case oversight from the outset, Rule 16.1 is a positive step in bringing order and efficiency to MDL proceedings. However, because the rule is discretionary, its effectiveness will ultimately depend on whether the transferee court chooses to enforce its provisions and turn optional guidance into meaningful action.

Orange plans to use the proceeds for general corporate purposes, which may include the repayment of certain outstanding indebtedness of MasOrange to be assumed in connection with Orange’s acquisition of the remaining 50% of MasOrange.

With a weighted average coupon of 4.72% for an average maturity of 9 years, this first US dollars issuance since 2016 allows Orange to benefit from diversification in its pool of credit investors.

 

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This press release may not be published, distributed or transmitted in Canada, Australia or Japan. This release does not constitute an offer of securities for sale or a solicitation of an offer to purchase these securities in the United States, Australia, Canada, Japan or any other jurisdiction in which such offer or solicitation is unlawful. The securities may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). There will be no public offering of the securities in the United States. The securities have not been, and will not be, registered under the Securities Act. The securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan subject to certain exceptions.

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A former New York-based employee of TD Bank N.A, Wilfredo Aquino, pleaded guilty today to facilitating a money laundering network’s movement of hundreds of millions of dollars through TD Bank accounts.

“The defendant leveraged his position at TD Bank and facilitated the criminal activity of a money laundering network that moved hundreds of millions of dollars through the bank’s accounts,” said Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division. “During the illicit scheme, the defendant evaded reporting requirements to hide the identity of the leader of the money laundering network. The Criminal Division is fully committed to rooting out money-laundering networks and their facilitators that exploit the security and stability of our country’s banking system.”

“Aquino helped criminals launder money from inside TD Bank,” said Senior Counsel Philip Lamparello for the Criminal and Special Prosecutions Division of the U.S. Attorney’s Office for the District of New Jersey. “Bank employees are the first line of defense against money laundering, fraud, and other financial crimes. When bank employees ignore their obligations and instead use their positions to commit crimes and line their own pockets, we will not hesitate to hold them accountable.”

“Wilfredo Aquino’s position at TD Bank required him to report suspicious customer activity and adhere to robust anti-money laundering regulations,” said Special Agent in Charge Jenifer L. Piovesan of the IRS Criminal Investigation (IRS-CI) Newark Field Office. “Instead, he turned a blind eye to complying with the law and prioritized enriching himself. IRS-CI will continue working with our law enforcement partners to investigate individuals taking advantage of our financial system through criminal activity.”

Aquino, 47, of New York, pleaded guilty to a one-count information charging him with conspiring to launder monetary instruments. He is scheduled to be sentenced on May 12.

According to court filings, beginning in 2019 and continuing until February 2021, Aquino, then a TD Bank assistant store manager, leveraged his position to facilitate a money laundering network’s movement of hundreds of millions of dollars through TD Bank accounts. During that time, the leader of the network, Da Ying Sze, also known as David, and his co-conspirators (collectively known as David’s Network) moved approximately $474 million through TD Bank accounts by depositing cash at TD Bank stores in New York, New Jersey, and elsewhere. In February 2022, David pleaded guilty to coordinating a $653 million money laundering conspiracy, operating an unlicensed money transmitting business, and bribing bank employees in connection with financial transactions.

While David’s Network used a number of TD Bank stores to conduct its money laundering activity, it laundered the most money through Aquino’s Midtown Manhattan store. Nobody processed more transactions for David’s Network at the Midtown Manhattan store than Aquino.

During the course of David’s money laundering scheme, Aquino processed approximately 1,680 official bank checks for David’s Network, totaling more than approximately $92 million. Nearly all of these bank checks were funded with a corresponding cash deposit exceeding $10,000, which triggered TD Bank’s legal requirement to file a currency transaction report (CTR). Although Aquino knew that David was conducting these cash deposits, Aquino never identified David as the “conductor” on the CTR. Aquino also knew that TD Bank had closed other accounts linked to David for suspicious activity; one colleague even warned Aquino that David’s activity “looks like money laundering.” In February 2021, Aquino facilitated three of David’s money laundering transactions, totaling almost $2 million in cash, in a third party’s account. He failed to report David as the conductor of the transaction, thus concealing David’s role in the money laundering scheme.

Aquino accepted numerous retail gift cards from David totaling over $11,000 in return for his facilitation of this scheme, including for the three transactions in February 2021.

The charge of money laundering conspiracy carries a maximum penalty of 20 years in prison and a fine of $500,000 or twice the amount involved in the offense, whichever is greater.

IRS-CI and the Federal Deposit Insurance Corporation Office of Inspector General (FDIC-OIG) investigated the case. The Department also thanks the Morristown Police Department for its assistance with the investigation.

Trial Attorneys D. Zachary Adams and Chelsea Rooney of the Criminal Division’s Money Laundering, Narcotics and Forfeiture Section and Assistant U.S. Attorney Marko Pesce, Chief of the Bank Integrity, Money Laundering, and Recovery Unit for the District of New Jersey are prosecuting the case.

The Money Laundering, Narcotics and Forfeiture Section’s Bank Integrity Unit investigates and prosecutes banks and other financial institutions, including their officers, managers and employees whose actions threaten the integrity of the individual institution or the wider financial system.

Alphen aan den Rijn/Berlin – January 7, 2026 – Wolters Kluwer Legal & Regulatory announced today the launch of the Libra Legal AI Workspace in the Netherlands. The solution combines Libra’s leading AI technology with Wolters Kluwer’s reliable and authoritative legal content offering and signifies the first tangible result of the acquisition of Libra Technology in November 2025.

The Libra Legal AI Workspace provides users with an integrated working environment for legal research, drafting, review and analysis of legal documents, while having direct access to Wolters Kluwer legal content including legislation, commentaries, specialist literature, practical guides and digital formats. The content is seamlessly connected with Libra’s generative AI capabilities and supports legal workflows across the entire process.

For law firms and corporate legal departments in the Netherlands, Wolters Kluwer and Libra set new standards for using AI in the legal profession:

• Tailored, AI-powered workspace for research, analysis, and document creation, seamlessly integrated into existing processes and workflows.
• Trusted AI outputs based on current, curated and country-specific legal content from one of the most renowned information providers. 
• Significantly higher efficiency by bringing together all legal workflows for the first time in a single, central Legal AI Workspace.
• Comprehensive transparency and traceability of sources, ensuring that quality, liability, and compliance requirements are met with confidence.

Rimco Spanjer, VP & Managing Director Wolters Kluwer Legal & Regulatory Benelux: “Being deeply rooted in the workflows of our customers with our content solutions, we are happy to enhance our offerings in the Netherlands by launching the Libra Legal AI Workspace. The integrated AI working environment combines high-quality legal content from Wolters Kluwer and innovative technology, making the day-to-day work of law firms and corporate legal departments significantly more efficient.”

Viktor von Essen, Co-Founder and CEO of Libra: “We are delighted to start our pan-European expansion with the market entry in the Netherlands. It allows us to immediately showcase the full potential of the Libra Legal AI Workspace in one of Wolters Kluwer’s core markets. We are looking forward to launching Libra in further European countries soon.”

As of today, existing Wolters Kluwer customers in the Netherlands can start a free trial version of the Libra Legal AI Workspace immediately. More information can found on www.libratech.ai/nl.

Americans have taken an increasingly dim view of sports betting in the seven years since the Supreme Court overturned a federal ban, as online wagers have skyrocketed, igniting concerns over the personal and social costs.

According to a recent poll from the Pew Research Center, 43 percent of U.S. adults say the fact that sports betting is now legal in much of the country is a bad thing for society. That’s up from 34 percent in 2022.

Harvard experts and others suggest that gambling addiction appears to be growing as a public health concern for individuals, and some see the likelihood of wider economic fallout.

Counselors have reported an growing number of patients with gambling problems. And a February study in JAMA Internal Medicine noted that internet searches for gambling-addiction help have risen 23 percent nationally from the 2018 court ruling through June 2024.

“When new forms of gambling appear, the rate of savings go down, then you see the rate of credit card defaults going up. And you see the rate of mortgage defaults going up. So these are long-term financial and societal costs with broad implications,” said Malcolm Sparrow, professor of the practice of public management at Harvard’s John F. Kennedy School of Government.

In the U.S., the floodgates for sports betting were opened in 2018 following a Supreme Court decision to overturn a federal sports gambling ban and turn over regulation to state governments. Currently, 39 U.S. states have passed legislation legalizing sports betting in some form.

The JAMA study found that total sports wagers increased from $4.9 billion during 2017 to $121.1 billion during 2023, with 94 percent of wagers during 2023 being placed online.

“It takes between five and seven years before countries become more painfully aware of all the misery that increased access wreaks on public health, public finances, and so on,” said Sparrow, much of whose work involves who studying the regulation of societal risks, including gambling.

The initial push for legalization stemmed from a desire for state governments to create an alternate form of tax revenue. Lobbyists for sports betting companies have downplayed the addictive nature of the behavior, experts say.

“It made a lot of sense to do. It was popular, and everyone was going to make money off of it,” said Spencer Andrews, a student fellow at Harvard’s Petrie-Flom Center. Andrews, who spent several years as a research fellow at the National Institutes of Health, is the author of a two-part series for the Bill of Health Blog regarding the dangers of sports gambling.

“I just think it was a short-sighted decision,” he said. “In the end, as ubiquitous as it is now, it’s clearly gotten out of hand.”

In his series Andrews picks up on an aspect of sports betting that, according to psychologists, lends itself to addictive behavior.

“Having it on your phone with push notifications and constant advertisements is able to kind of hijack your brain in a really fascinating way,” he said. “Before, you’d have to drive to a casino, and I think that served as a bit of a barrier.”

Debi LaPlante, director of the Division on Addiction at the Cambridge Health Alliance and an associate professor of psychiatry at Harvard Medical School, said she thinks it may be hard for clinicians to spot and treat negative sports betting behaviors because most have so little experience with it.

“Many healthcare providers don’t have the knowledge, skills, or tools to address gambling-related problems among their clients and patients,” she said.

LaPlante suggests making screening for gambling widely available for healthcare professionals to better connect people to help.

“Sometimes people don’t recognize when gambling is causing a problem,” she said.

Sparrow added that research suggests that even mild participation in sports betting may be harmful.

“We suspect up to 50 percent of gamblers suffer some degree of harm and regret, and a much broader definition say it’s having an adverse effect on their life, and they’ve tried to stop but can’t,” he said. “Now that’s not enough to get you designated as a gambler, but it still means it’s having a lasting detrimental effect in one dimension of life or another.”

Some safeguards have been implemented in recent years. Some sports betting apps allow users to set loss limits, and nearly every advertisement for sports betting across the U.S. is accompanied by addiction helpline information.

Andrews added that banning advertising during sports events may help state governments cut down on risky betting.

“It’s kind of like a cigarette brand advertising at a nicotine lovers conference or something. It’s a cheat code,” he said. “At the end of the day, the government owes their consumers a protection from being led astray by private interests. And I think taking a step back and letting anything happen here is just not the answer.”

Sparrow said another strategy is for states that haven’t approved online sports betting to stand firm.

“The industry would like to have us all believe that it’s inevitable all 50 will get there eventually,” he said. “The economic benefits are grossly over-emphasized in the policy debates leading up to legalization or increased legalization, and that’s a deliberate tactic on behalf of the industry.”

Corporate

Samsung Tech Forum series continues at CES 2026 with industry leaders convening to explore the evolution of streaming

1/6/2026

Samsung Electronics Co., Ltd. held “FAST Forward: How New Streaming Models Are Shaping the Next Generation of TV” as part of its Tech Forum panel series at CES 2026. Taking place at The Wynn in Las Vegas, Nevada, the panel brought together leaders from entertainment and media to explore the evolution of streaming and the rapid rise of free-ad-supported television (FAST).

The session highlighted the interconnected relationship between today’s rapidly evolving consumer behaviors and preferences, the transformation of content by technology and monetization models, the expanding role of creators as studios and the ways in which interactive and live experiences are catalyzing a shift from passive viewing into active engagement.

Moderated by Natalie Jarvey of The Ankler, the panel featured Salek Brodsky, SVP and Global Head of Samsung TV Plus; Alessandra Catanese, CEO of Smosh and Bruce Casino, EVP, Sales & Distribution, U.S., NBCUniversal Global TV Distribution.

FAST Gains Momentum as Audiences Recalibrate Value

As audiences grapple with subscription fatigue and a fragmented streaming landscape, the panel focused on how FAST is restoring simplicity and value to television. Samsung TV Plus anchored the conversation as a platform designed to reduce friction, offering hundreds of live and on-demand channels in one free, easily accessible experience across Samsung TVs and devices worldwide.

“The TV experience today can often feel like too much work for the viewer,” said SVP Brodsky. “Our goal with Samsung TV Plus is to simplify television again and combine the power of linear discovery with a modern, connected experience that feels effortless, curated and truly valuable.”

The panelists emphasized that FAST has evolved into a core part of the streaming ecosystem, complementing subscription and traditional models while delivering premium, proven programming at scale. For Samsung TV Plus, that evolution is rooted in shared experiences that elevate viewing and meet users not just where they already are, but where they want to be.

Hybrid Models Redefine the Streaming Ecosystem

Panelists emphasized that the evolution of streaming is less about replacing traditional models and more about expanding how audiences engage with content. FAST, subscription and linear distribution models are increasingly working in tandem, allowing studios to extend the life of proven franchises, reach new viewers and unlock additional value without sacrificing performance elsewhere. By leveraging data, audience behavior and decades of content insight, media companies are deploying FAST to complement existing channels and create a more resilient and diversified ecosystem.

EVP Bruce Casino highlighted how this approach has enabled NBCUniversal to bring both classic and contemporary content to FAST audiences while continuing to see strong performance across platforms. “FAST doesn’t replace traditional distribution, it extends it,” said Casino. “What we’re seeing is that when great content shows up in multiple places, it creates incremental value rather than cannibalization — allowing franchises to thrive across FAST, streaming and linear channels.”

Creators Emerge as the New Studios

The panel also examined how the changing nature of consumer habits and television platforms means content creators do not have to work exclusively with legacy studios to reach a broad audience. As this medium expands from social platforms to the living room, FAST is helping bridge digital culture and traditional TV, while also serving to elevate its production quality.

Samsung TV Plus was highlighted as a platform that helps creators evolve from digital-first brands into full-fledged television studios, helping expand reach, unlock new monetization opportunities and introduce content to broader, global audiences.

One of the clearest examples of a brand that has taken the step from digital-first brand to legitimate TV studio is sketch comedy-improv collective Smosh. By launching a FAST channel with Samsung TV Plus, Smosh has been able to strengthen its connection with its already-dedicated fans while gaining access to a much larger viewer base. Due to this evolution, Smosh has enhanced long-term growth.

“Partnering with Samsung TV Plus allowed us to elevate our production quality and invest in the future of the Smosh brand,” said CEO Alessandra Catanese. “It was the right platform to help us reach a broader audience while positioning our content in a premium environment that supports where we’re headed as a company.”