𧩠Facebook's 43.9 million violations
PLUS: Kalshi's circuit split; Rexel's $1.4 billion cable deal; a law firm losing both names
September 28, 2026
Lookzy: all your daily legal news in 0.1 billable hours. Plain English coverage of deals, litigation and legal trends trusted by lawyers at Cravath, Latham, Skadden, Gunderson and elsewhere.
Welcome to Lookzy. In today's Lookzy:
Facebook loses on liability, penalties TBD
Kalshi loses another round over state gambling laws
A GC seeks the fee right he was told to eliminate
Both namesakes want off their old firm's door
THE VERDICT
Arguing today's litigation news
43.9 million violations. A New Mexico jury found Facebook liable for roughly 43.9 million violations of the state's Unfair Practices Act, including willful misrepresentations about users' control over their data and whether Facebook sold or provided it to advertisers after Cambridge Analytica. The verdict decides liability only: the judge will determine civil penalties and injunctive relief. The law allows up to $5,000 per willful violation, but the actual penalty is entirely discretionary.
Kalshi's state problem. Kalshi's status as a federally regulated exchange does not let it sidestep Ohio and Tennessee gambling laws, the Sixth Circuit held in a preliminary-injunction appeal. Kalshi had not shown its sports-event contracts were âswapsâ under the Commodity Exchange Actâand even assuming they were, the Act would not preempt those state laws. The court upheld Ohio's denial of an injunction and vacated Tennessee's injunction protecting Kalshi. The circuits have split: the Third sided with Kalshi on substantially the same question, while the Ninth went the other way.
The right he kept. Care One sued its former GC Androsky Lugo, then defeated his request for advance payment of defense fees in Delaware Chancery. Lugo had been told to eliminate that right for everyone except company manager Daniel Straus. The court found he knew existing officer rightsâincluding his ownâwould survive the amendment, but failed to explain that waivers were needed. Delaware strongly favors advancement, but Chancery applied unclean hands on these unusual facts. Care One did not assert that defense against former employee Elizabeth Straus.
THE DEAL
Wheelin' and dealin' today's corporate news
Cable deal, equity raise. Rexel agreed to buy Genuine Cable Group from Audax Private Equity for about $1.4 billion in enterprise value, targeting a year-end close subject to customary conditions and approvals. Funding would pair approximately âŹ800 million in cash and debt with an intended equity raise of up to âŹ500 million, dependent on market conditions, to preserve Rexel's credit rating. More than 60% of GCG's expected $1.1 billion in 2026 revenue is exposed to high-growth segments including data centers, power and grid, communications and defense.
Buying into the grid. Eaton agreed to buy Italian grid-equipment maker COL Group from Oaktree Capital Management for âŹ810 million in enterprise value. The deal is expected to close in the first quarter of 2027, subject to regulatory approvals and customary conditions. COL makes medium-voltage equipment, adding European capacity as data centers and utilities drive demand; its roughly 400 employees support a business expecting about âŹ250 million in 2027 sales.
BOILERPLATE
Both names off the door. Thomas Goodhead has joined Harris Pogust in demanding that their names come off Pogust Goodhead, which already intends to rename itselfâthe firm's fourth name since Goodhead launched it in 2018. Neither founder still runs the UK mass-claims firm, and Goodhead is helping a client committee try to move Mariana Dam claimants' representation to Bailey Glasser International. Pogust Goodhead disputes the committee's authority to make that move, with an expedited hearing expected in early October.
Alright, back to billing. That's all, folks!
