Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

As the newest co-chairs of Wachtell’s mergers and aquistions practice, Jacob Kling and David Lam are a picture of the firm’s future. The hyper-competitive Big Law talent market is pushing the storied Wall Street firm to tinker with its top ranks and add new faces.

When Corizon Health Inc. used a controversial legal maneuver in 2022 to cleave hundreds of millions of dollars in liabilities onto a shell company, its architects called it a business decision meant to protect the correctional healthcare company’s future operations.

The way artificial intelligence transforms the legal industry—and how deep it ultimately goes—stands to ripple across the economy as an indicator of how AI will change white collar work overall.

Both New York and Delaware—the two dominant jurisdictions for sophisticated commercial agreements—recognize the implied covenant of good faith and fair dealing. There are critical distinctions between these jurisdictions, and it’s important to ensure discretionary provisions can withstand judicial scrutiny, say Lowenstein Sandler’s Gavin Rooney and Jennifer Fiorica Delgado.

Employers using artificial intelligence to screen, rank, or evaluate candidates are facing a regulatory mismatch: Federal civil-rights rules haven’t changed, but state and local restrictions are multiplying, writes Stinson’s Benjamin Woodard.

Wise Group Plc is making its trading debut in the US with a Nasdaq listing as the financial technology firm tries to take advantage of a larger stock market and its legions of investors.

While AI has the potential to increase productivity and create new jobs, it also poses the risk of job displacement, and economists are warning that companies and governments need to address this issue to ensure a smooth transition.

The Labor Department wants companies to help track AI’s impact on jobs and DC’s unemployment rate hits a national high.

Federal appeals courts are assessing the viability of one of the NLRB’s most effective tools to protect workers’ rights in the aftermath of a US Supreme Court decision that dialed back the agency’s power to obtain court injunctions against employers.

The way artificial intelligence transforms the legal industry—and how deep it ultimately goes—stands to ripple across the economy as an indicator of how AI will change white collar work overall.

Employers using artificial intelligence to screen, rank, or evaluate candidates are facing a regulatory mismatch: Federal civil-rights rules haven’t changed, but state and local restrictions are multiplying, writes Stinson’s Benjamin Woodard.

A US trade delegation is likely to visit India for talks, a New Delhi official said Monday, as the two sides continue negotiations toward a bilateral agreement.

Democrats are leaning into midterm affordability concerns by proposing a federal gas tax holiday as the ongoing conflict in the Middle East sends prices at the pump skyrocketing.

A recent New York appellate decision upholding the state’s additional income tax obligations on out-of-state online retailers isn’t likely to be the last challenge to that regulation, or to similar rules adopted by other states.

Much is uncertain about the IRS’s plans to revise tax-exempt organizations’ reporting requirements, but nonprofits meanwhile should conduct internal reviews on Form 990 compliance and stay informed, Levene Legal’s Allie Levene says.

A losing streak in litigation finance is attracting hedge funds and other alternative investment managers looking to invest in legal claims at distressed valuations, according to people familiar with the matter.

Wise Group Plc is making its trading debut in the US with a Nasdaq listing as the financial technology firm tries to take advantage of a larger stock market and its legions of investors.

Lawmakers are preparing to vote on expanding the use of corn-based ethanol fuel, marking the potential culmination of a years-long debate as policymakers look for ways to bring gas prices down.

The way artificial intelligence transforms the legal industry—and how deep it ultimately goes—stands to ripple across the economy as an indicator of how AI will change white collar work overall.

Whether Vince McMahon and other senior WWE leaders tampered with evidence related to alleged sexual misconduct during a suit challenging the wrestling company’s merger with the UFC and a fight over The Notorious B.I.G.'s musical catalog are the highlights on the Delaware Chancery Court calendar this week.

An India-bound fertilizer shipment booked under an April tender has been scrapped after officials raised concerns over links to Iran, according to people with direct knowledge of the matter.

The SEC’s plan to dedicate more staff to investigate audit lapses has triggered fresh uncertainty over the role of the industry’s embattled watchdog.