In an ongoing spate of regulatory action, both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have recently settled their investigations into off-channel communications at several leading financial institutions. Details on the case can be found here. This move can be seen as part of an extended regulatory push to…
Changes in the legal landscape of Intellectual Property Rights (IPR) are now effectively reshaping how patent disputes operate. AXONICS, INC. v. MEDTRONIC, INC., a case that recently came before Dyk, Lourie, and Taranto in the Patent Trial and Appeal Board, has a noteworthy finding: In an Inter Parties Review (IPR) process, an IPR petitioner should…
In a recent and rare unanimous decision, the California Supreme Court invalidated a Monterey County voter-endorsed local initiative designed to ban oil and gas drilling while imposing stiff restrictions on oil and gas developments in the county. Such a precedent-setting ruling brings a focus to the legal tension between local and state laws surrounding the…
In a strategic move addressing national security concerns, the Biden Administration has issued a long-anticipated Executive Order regarding investments in Certain National Security Technologies and Products in “Countries of Concern”. Expected to trigger a new outbound investment review regime, the Order is set to impose compliance obligations for U.S. investors, specifically within high-technology industries with…
In a recent development on the legal interpretation of the Telephone Consumer Protection Act (TCPA), a unanimous panel of the U.S. Court of Appeals for the Ninth Circuit has determined that text messages do not fall under the category of “prerecorded voice messages”. This decision has clear implications on the prohibitions of the TCPA, specifically…
In a remarkable turn of events, the Securities and Exchange Commission (SEC) faced criticism for its decision not to regulate a particular financial product, as it failed to adequately explain its reasons for this action. This incident was reported by JD Supra, a key news source for legal professionals worldwide. This lack of explanation by…
In the realm of employment law, July 2023 has marked several important decisions by Californian courts. The following are summaries of key judgments, unpacking their implications for legal professionals working in multinational corporations and the foremost law firms. Kuciemba v. Victory Woodworks Inc., 14 Cal. 4th 993 (2023): The details of the case remain undisclosed,…
The month of July 2023 bore witness to a multitude of significant judicial decisions affecting class action litigation. These decisions have repercussions that could potentially impact some of the world’s largest corporations and law firms in a profound way. Therefore, it is crucial to be abreast of these changes to strategize legally and financially. More…
Two conservative law professors, William Baude of the University of Chicago and Michael Stokes Paulsen of the University of St. Thomas, have explored the legal implications surrounding Donald Tump’s eligibility to run for an elected office. This inquiry focuses particularly on the implications arising from the events of January 6th, the day known for the…
On July 26, 2023, Hillsborough County reported a significant data breach to the U.S. Department of Health and Human Services Office for Civil Rights. The breach, which involved the MOVEit file transfer tool, potentially put the personal data of local residents in jeopardy. According to the report filed by Hillsborough County, an unauthorized third party…
Recent years have witnessed an ongoing debate about the validity of capping general damages via contract provisions for liquidated damages. This discussion gained momentum with a couple of contradictory verdicts in the last two years – casting ambiguity on a common feature of construction contracts. The topic came to light as liquidated damages clauses frequently…
The No Surprises Act (NSA), a landmark piece of legislation affecting the healthcare industry, has been in effect since January 2022. Despite its intent to mitigate the financial strain of unexpected medical bills for patients, the act has continuously faced litigation initiated by healthcare providers since its implementation. Both state and federal agencies are scrutinizing…
The corporate retirement funding landscape is poised to see significant shifts following legislative adjustments, the primary of which is the ‘SECURE Act 2.0’. Having re-evaluated the way workers can save for their retirement, this robust act brings to the drawing board a multitude of changes to retirement accounts. One of the notable changes posed by…
Following a 15-year long survey of Am Law 200 firms, the National Association of Women Lawyers (NAWL) shifted its focus onto conducting a ‘Listening Tour.’ Now, the organization is zeroing in on the lived experiences of women attorneys. This move follows a recognition of the persistent and sizeable decline of women in law firms relative…
Ahead of this year’s academic year, a pipeline program, created by retired federal judge and current Jones Day lawyer, Ann Claire Williams, has dutifully prepared 91 first-years (1Ls) for law school in Illinois. The initiative, aptly named “Jumpstart”, aims to equip students, particularly those with little or no exposure to the legal profession, with the…
Mary L. Smith has made history becoming the first Native American female president of the American Bar Association (ABA), the largest voluntary bar association across the globe. Smith, who is also vice chair of the VENG Group—a national consulting firm—and a remarkable figure in healthcare executive leadership, assumed her new role at the ABA on…
The Practising Law Institute (PLI) is hosting a webinar titled “Bridge the Gap I: Ethics and Skills for Newly Admitted New York Attorneys 2023” on September 6th from 8:45 am to 5:45 pm EDT. The event aims to equip new lawyers with the required ethics and skills needed in their early professional career. While not…
In a unique turn of events, Kirkland & Ellis, a Chicago-born firm, currently holds the record as the law firm with the largest New York office, surpassing the likes of Davis, Polk & Wardwell; and Paul, Weiss, Rifkind, Wharton & Garrison. According to the latest data rankings released by the New York Law Journal 100,…
On June 8, 2023, the Division of Examinations (referred to as “the Division”) of the U.S. Securities and Exchange Commission (or “SEC”) issued its second Risk Alert (known as the “2023 Risk Alert”) on the amended Rule 206(4)-1 (or the “Marketing Rule”) under the Investment Advisers Act of 1940. The amended Marketing Rule, introduced by…
In response to a shortage of attrition, many Biglaw firms face an overcapacity problem. These circumstances have brought layoffs and deferrals into focus as potential solutions. However, some firms are opting for a different approach. Rather than severing ties, these firms aim to maintain their relationships with their associates. To do so, they’ve begun conducting…
In an intriguing twist to the world of advertising law, it appears emojis may now play a considerable role in the determination of false advertising cases. This development follows a recent course of action initiated by the National Advertising Division (NAD) against Coca-Cola due to their rebranding of the Powerade beverage. Earlier this year, Coca-Cola…
In a ruling that could send shockwaves through the financial sector, several major financial institutions and their affiliates were recently hit with fines totaling $549 million. This decision was handed down by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and related to the parties’ failure to uphold proper…
In a significant tax development, Massachusetts Governor Maura Healey signed the Fiscal Year 2024 state budget on August 9, 2023. Notably, the approved budget implements a 4% surtax on income that exceeds $1 million. This surtax comes into effect for tax years beginning on January 1, 2023, and adds to the existing 5% income tax…
The U.S. Congress has passed legislation permitting competitive multivendor contracts within the American organ transplant system, empowering a modernization initiative by the Health Resources and Services administration (HRSA) announced this past March. Find the full details about the new legislation on JD Supra. The key elements of the modernization initiative relate significantly to initiatives strengthening…
In an era where the use of artificial intelligence (AI) in various spheres of life continually garners attention, a crucial development from Capitol Hill has become a point of discussion and intrigue. Senators Bob Casey (D-PA) and Brian Schatz (D-HI) have put forth the “No Robot Bosses Act of 2023”, aimed at understanding, regulating, and…