Jenner & Block Japan Newsletter
Welcome to the April 2025 edition of the Jenner & Block Japan Newsletter, a publication containing updates about legal developments in the United States that may be noteworthy to our clients and other leaders in the Japanese legal and business communities.
First, we are excited to welcome our friends to Chicago for the 2025 IPBA Annual Meeting and Conference, and invite readers to join us on Thursday, April 24th for a cocktail reception following the IPBA Gala Dinner. Consider joining us on the top floor of our office to experience breathtaking views of the iconic Chicago skyline while enjoying live jazz and Chicago-themed cocktails. For more details and to rsvp for the reception, please click here – we hope to see you in the Windy City.
We would also like to recognize our Japan Practice Co-Chair, Miwa Shoda, for her ranking in the 2025 Chambers Global guide in two categories: Litigation-USA: Foreign Expert (Japan) and Dispute Resolution-Japan: Japan Expertise Based Abroad. Miwa is the only lawyer from law firms in the US to be ranked for Japan in these categories.
Returning to the substance of our Newsletter, this edition spans a wide array of legal topics, including a review of a recent lawsuit highlighting the importance of Hart-Scott-Rodino Act compliance for companies pursuing a merger or acquisition. We also provide an overview of the landscape for financial technology companies in the United States, which has seen significant shifts in 2025.
This edition of the Newsletter also covers the recent pause of Foreign Corrupt Practices Act (FCPA) enforcement and the importance of maintaining FCPA compliance regardless of the current enforcement climate. We then review recent decisions by the Delaware Supreme Court and Delaware Court of Chancery that touch on the importance of drafting narrowly tailored restrictive covenants and precisely drafted earnout provisions. That article is followed by an examination of a trade secret ruling that resulted in a $17 million attorney fee award. Furthermore, we provide an overview of the recently enacted California AI Transparency Act. The new statute sets disclosure requirements for generative AI companies. Also covered is a class action suit regarding the claimed existence of microplastics in consumer products and a patent decision that may raise costs for companies facing infringement allegations. Finally, the Newsletter discusses a decision by the US Supreme Court clarifying the circumstances under which victims of a foreign state’s expropriation of property can seek redress in US courts.
We hope that you find the information in the Jenner & Block Japan Newsletter of interest and helpful to your law practice or business operations. We thank you for taking the time to review our publication.
Regards,
The Jenner & Block Team
Antitrust
Premerger Enforcement Actions Highlight Importance of HSR Compliance
Fintech
Investigations, Compliance, and Defense
Corporate
Corporate
The Importance of Drafting Precise Earnout Provisions in M&A Transactions
Artificial Intelligence
California’s AI Transparency Act
Class Action
Microplastics Can Lead to Big Lawsuits
Trade Secrets
$17 Million Attorney Fee Award Aims to Deter Malicious Trade Secret Misappropriation
Patent
Human Rights
US Supreme Court Clarifies Availability of US Forum for Victims of Foreign State Expropriation
Articles
Antitrust
Premerger Enforcement Actions Highlight Importance of HSR Compliance
Fintech
Investigations, Compliance, and Defense
Corporate
Corporate
The Importance of Drafting Precise Earnout Provisions in M&A Transactions
Artificial Intelligence
California’s AI Transparency Act
Class Action
Microplastics Can Lead to Big Lawsuits
Trade Secrets
$17 Million Attorney Fee Award Aims to Deter Malicious Trade Secret Misappropriation
Patent
Human Rights
US Supreme Court Clarifies Availability of US Forum for Victims of Foreign State Expropriation
Related Attorneys
Related Capabilities
© 2026 Jenner & Block LLP. Attorney Advertising. Jenner & Block LLP is an Illinois Limited Liability Partnership including professional corporations. This publication, presentation, or event is not intended to provide legal advice but to provide information on legal matters and/or firm news of interest to our clients and colleagues. Readers or attendees should seek specific legal advice before taking any action with respect to matters mentioned in this publication or at this event. The attorney responsible for this communication is Brent E. Kidwell, Jenner & Block LLP, 353 N. Clark Street, Chicago, IL 60654-3456. Prior results do not guarantee a similar outcome. Jenner & Block London LLP, an affiliate of Jenner & Block LLP, is a limited liability partnership established under the laws of the State of Delaware, USA and is authorised and regulated by the Solicitors Regulation Authority with SRA number 615729. Information regarding the data we collect and the rights you have over your data can be found in our Privacy Notice. For further inquiries, please contact dataprotection@jenner.com.
Welcome to the April 2025 edition of the Jenner & Block Japan Newsletter, a publication containing updates about legal developments in the United States that may be noteworthy to our clients and other leaders in the Japanese legal and business communities.
First, we are excited to welcome our friends to Chicago for the 2025 IPBA Annual Meeting and Conference, and invite readers to join us on Thursday, April 24th for a cocktail reception following the IPBA Gala Dinner. Consider joining us on the top floor of our office to experience breathtaking views of the iconic Chicago skyline while enjoying live jazz and Chicago-themed cocktails. For more details and to rsvp for the reception, please click here – we hope to see you in the Windy City.
We would also like to recognize our Japan Practice Co-Chair, Miwa Shoda, for her ranking in the 2025 Chambers Global guide in two categories: Litigation-USA: Foreign Expert (Japan) and Dispute Resolution-Japan: Japan Expertise Based Abroad. Miwa is the only lawyer from law firms in the US to be ranked for Japan in these categories.
Returning to the substance of our Newsletter, this edition spans a wide array of legal topics, including a review of a recent lawsuit highlighting the importance of Hart-Scott-Rodino Act compliance for companies pursuing a merger or acquisition. We also provide an overview of the landscape for financial technology companies in the United States, which has seen significant shifts in 2025.
This edition of the Newsletter also covers the recent pause of Foreign Corrupt Practices Act (FCPA) enforcement and the importance of maintaining FCPA compliance regardless of the current enforcement climate. We then review recent decisions by the Delaware Supreme Court and Delaware Court of Chancery that touch on the importance of drafting narrowly tailored restrictive covenants and precisely drafted earnout provisions. That article is followed by an examination of a trade secret ruling that resulted in a $17 million attorney fee award. Furthermore, we provide an overview of the recently enacted California AI Transparency Act. The new statute sets disclosure requirements for generative AI companies. Also covered is a class action suit regarding the claimed existence of microplastics in consumer products and a patent decision that may raise costs for companies facing infringement allegations. Finally, the Newsletter discusses a decision by the US Supreme Court clarifying the circumstances under which victims of a foreign state’s expropriation of property can seek redress in US courts.
We hope that you find the information in the Jenner & Block Japan Newsletter of interest and helpful to your law practice or business operations. We thank you for taking the time to review our publication.
Regards,
The Jenner & Block Team
Antitrust
Premerger Enforcement Actions Highlight Importance of HSR Compliance
Fintech
Investigations, Compliance, and Defense
Corporate
Corporate
The Importance of Drafting Precise Earnout Provisions in M&A Transactions
Artificial Intelligence
California’s AI Transparency Act
Class Action
Microplastics Can Lead to Big Lawsuits
Trade Secrets
$17 Million Attorney Fee Award Aims to Deter Malicious Trade Secret Misappropriation
Patent
Human Rights
US Supreme Court Clarifies Availability of US Forum for Victims of Foreign State Expropriation
Articles
Antitrust
Premerger Enforcement Actions Highlight Importance of HSR Compliance
Fintech
Investigations, Compliance, and Defense
Corporate
Corporate
The Importance of Drafting Precise Earnout Provisions in M&A Transactions
Artificial Intelligence
California’s AI Transparency Act
Class Action
Microplastics Can Lead to Big Lawsuits
Trade Secrets
$17 Million Attorney Fee Award Aims to Deter Malicious Trade Secret Misappropriation
Patent
Human Rights
US Supreme Court Clarifies Availability of US Forum for Victims of Foreign State Expropriation
Related Attorneys
Related Capabilities
© 2026 Jenner & Block LLP. Attorney Advertising. Jenner & Block LLP is an Illinois Limited Liability Partnership including professional corporations. This publication, presentation, or event is not intended to provide legal advice but to provide information on legal matters and/or firm news of interest to our clients and colleagues. Readers or attendees should seek specific legal advice before taking any action with respect to matters mentioned in this publication or at this event. The attorney responsible for this communication is Brent E. Kidwell, Jenner & Block LLP, 353 N. Clark Street, Chicago, IL 60654-3456. Prior results do not guarantee a similar outcome. Jenner & Block London LLP, an affiliate of Jenner & Block LLP, is a limited liability partnership established under the laws of the State of Delaware, USA and is authorised and regulated by the Solicitors Regulation Authority with SRA number 615729. Information regarding the data we collect and the rights you have over your data can be found in our Privacy Notice. For further inquiries, please contact dataprotection@jenner.com.
News and Insights
Publications
In New York Law Journal, The True Lender Doctrine and the OppFi Decision
Partners Jeremy Creelan, Michael Ross, Megan Poetzel, and Laurel Loomis Rimon, and Associate Molly Oberstein-Allen authored an article for the New York Law Journal examining the "True Lender" doctrine in light of a May 2026 California decision that provides the most detailed judicial framework to date for evaluating bank-nonbank lending partnerships.
July 1, 2026
Event
Partner Michael Vernick to Speak at NACUA's 2026 Annual Conference
On July 1, Partner Michael Vernick will speak on a panel at the National Association of College and University Attorneys (NACUA) 2026 Annual Conference in Nashville.
July 1, 2026
Publications
In Employee Relations Law Journal: What Happens When ERISA Disability Deadlines Slip
Partner Joseph Torres along with Associates Emma O'Connor and Christopher LeWarne, authored an article for the Employee Relations Law Journal analyzing a significant Fourth Circuit decision with substantial consequences for ERISA disability plan administrators.
June 23, 2026