A federal jury in California has ordered Apple to pay $634 million to Masimo for infringing on a patent related to blood-oxygen reading technology. The jury found that features in the Apple Watch, specifically workout mode and heart rate notifications, violated Masimo's patent. Apple plans to appeal, noting that the patent in question expired in 2022. This case is part of a broader legal battle between the companies over technology and intellectual property.

Union Pacific and Norfolk Southern shareholders have approved an $85 billion merger to create the first coast-to-coast freight rail operator in the US, but regulatory clearance is still required. President Donald Trump has expressed support for the merger, which is expected to significantly reshape the movement of goods across the country.

US Magistrate Judge William Fitzpatrick has criticized the Justice Department's investigation and prosecution of former FBI Director James Comey, highlighting "profound investigative missteps" and potential "government misconduct." Fitzpatrick has ordered the release of grand jury transcripts, noting procedural errors by interim US Attorney Lindsey Halligan, who was appointed by President Donald Trump.

The Fixed Income Clearing Corp. plans to separate initial margin and default fund contributions ahead of the Securities and Exchange Commission's US Treasury clearing mandate at the end of 2026. The move aims to align with best practices and enhance risk management for clearing banks, but could increase participation costs for members, market participants say.

Antonia Apps, deputy director of the Securities and Exchange Commission's enforcement division, is set to leave the SEC next month. Apps has served as acting deputy director and regional director of the New York office, leading enforcement and investor outreach.

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After more than a decade of general economic progress and rising asset prices, the values of many assets started fluctuating in the last few years, with further drops feared this year. Typical market turbulence has been exaggerated by inflation, war, political polarization, federal government shutdowns, and tariffs. As advisers to individual and business clients, lawyers can better guide their clients armed with investing and portfolio fundamentals, some of which are described in this week's free article download from PLI Press.

US District Judge Rita Lin has issued a preliminary injunction preventing the Trump administration from fining the University of California or cutting federal funding over allegations of antisemitism and discrimination. The judge cited the "overwhelming evidence" presented by labor unions and others. Lin criticized the administration for trying to suppress "woke" viewpoints and for not following due process.

The Supreme Court will review a decision made by the US Court of Appeals for the 9th Circuit concerning the "metering" policy, which the Trump administration says hinders border management. The policy involved turning back asylum seekers at ports of entry before they could enter the US. The Ninth Circuit ruled that asylum seekers turned away had "arrived in" the US under federal law.

A federal appeals court has upheld hate crime convictions for Greg McMichael, Travis McMichael and William "Roddie" Bryan, who chased and killed Ahmaud Arbery in 2020. The 11th US Circuit Court of Appeals found sufficient evidence that the men targeted Arbery because of his race, citing racist social media posts and messages. The three men are serving life sentences for murder.