In an era where diversity and representation are paramount, we spotlight professionals making significant contributions to their sectors. In this installment, we focus on the narratives of black dealmakers and change makers in the private equity and financial community. The insights offered in this series serve to both illuminate the unique challenges faced by black…
The U.S Department of Commerce has recently proposed certain amendments to the Section 232 steel and aluminum tariff exclusions process. With a deadline for comments set for October 12, 2023, the proposed ruling was published in the Federal Register on August 28, 2023. This proposed regulation is anticipated to introduce changes affecting both domestic producers…
In a notable legal conclusion, fiduciaries of a retirement plan, sponsored by DST Systems Inc., inclusive of the investment management firm Ruane, Cunniff & Goldfarb Inc., have agreed to settle for an amount exceeding $124.6 million over alleged violations of the Employee Retirement Income Security Act (ERISA). This settlement was reached in response to a…
The Restructuring Roundup for August 2023 presents a comprehensive monthly review focusing on pertinent commercial litigation and bankruptcy issues. The newsletter encapsulates original content from AGG’s specialised attorneys in Bankruptcy, Creditors’ Rights, & Financial Restructuring. Coupled with previously published articles and news, this curated publication provides valuable insights for legal professionals. With the ever-changing legal…
Nebraska Governor Jim Pillen signed a contentious executive order last Wednesday, providing definitions for ‘male’ and ‘female’, and guiding how related terms should be utilized by state agencies. Asserting that the objective of the order is to uphold the safety and integrity of women’s sports, he has nevertheless drawn criticism for perceived encroachments on the…
In the closing stages of 2022, U.S. Congress passed the SECURE Act 2.0. One of its key provisions introduced was an obligation that requires highly compensated employees (HCEs) to only make catch-up contributions through a Roth after-tax basis. Fast-forward less than a year and just a few months shy of the new rule’s due initiation,…
With recent significant amendments to Rule 10b5-1 plan requirements, legal professionals find themselves navigating a transformed landscape, a shift sparked by the Justice Department’s announcement of its first criminal prosecution challenging a Rule 10b5-1 plan earlier this year. The increased attention regulators are now giving to the use of such plans has certainly put insiders…
In a significant legal development, the U.S. Court of Appeals for the Tenth Circuit recently made a ruling that could reshape the future state regulation of pharmacy benefit managers (PBMs). The case in question, Pharmaceutical Care Management Association (PCMA) v. Mulready, was decided on August 15, 2023, and tackled the complex relationship between state authority…
In a recent development, the Office of Prescription Drug Promotion (OPDP) of the Food and Drug Administration (FDA) has issued another Untitled Letter. This has led to speculations within the pharmaceutical and legal fraternity regarding the intent and future direction of OPDP’s enforcement efforts. This letter marks the second instance within a span of two…
Institutional Shareholder Services Inc. (ISS) announced on August 29, 2023, the initiation of its Annual Benchmark Policy Survey, a routine yet vital enterprise in shaping ISS’s policy development for the forthcoming years. The announcement was reported by JD Supra. Despite the minimal available information for the time being, it is implicit that the results collated…
The utilization of split-dollar life insurance plans has intricated both employers and employees in recent times. Faegre Drinker Biddle & Reath LLP, through a report, outlines the benefits of this intricate strategy in the current tight and competitive hiring market. Split-dollar life insurance, an uncommon but innovative approach, allows the sharing of premiums and benefits…
The Office of Open Records (“OOR”) has announced the full implementation of its E-File Appeal Portal in the summer of 2022. The intent behind this move is to create a single point of reference for all records associated with appeals. This new development aims at improving efficiency and ensuring that key documents are easily accessible….
The time it takes for Search Engine Optimization (SEO) to take full effect in law firms can seem like a mystifying question for many legal professionals. As much as SEO practices are critical for the visibility of law firms online, the timeline for their impact can seem unclear. According to a report from JDSupra, it…
In recent developments, pharmaceutical company Celltrion has reportedly reached a resolution in its settlement with Johnson & Johnson (J&J) in the United States. The settlement pertains to CT-P43, Celltrion’s biosimilar to J&J’s STELARA®, more technically known as Ustekinumab. Under the terms of the settlement, Celltrion is permitted to launch the product on the U.S. market…
In the week ending August 25, 2023, several key rulings reshaped the landscape of patent litigation. One case particularly stands out: Volvo Penta of the Americas, LLC v. Brunswick Corp., No. 2022-1765 (Fed. Cir. (PTAB) Aug. 24, 2023). The court’s decision addressed a critical issue facing many industries: the challenge of patent claims before the…
On August 30, 2023, the U.S. Department of Labor’s Wage and Hour Division unveiled the details of its much-awaited Notice of Proposed Rulemaking. This notice pertains to the salary requirements of the Fair Labor Standards Act’s overtime exemption for executive, administrative, and professional employees. The announcement is among the Department’s most anticipated rulemakings of the…
Today, legal professionals across the globe need to pay close attention to recent proposals put forth by the U.S. Department of Labor. The department has suggested a substantial rise in the Fair Labor Standards Act’s (FLSA) salary-level threshold. This would vault from the existing $35,568 to a proposed $55,068. If this proposition is endorsed, it…
In the face of an aging global population, real estate trends in the senior housing sector have been evolving rapidly. Communities around the world are witnessing a notable increase in their older populations, a trend expected to persist in the upcoming years. With an understanding of this demographic shift, municipalities have initiated strategic planning to…
In a significant new ruling, the Supreme Court has made a decision that places added pressure on employers who receive a religious accommodation request from their employees. This comes in a context where such requests have increased prevalently and have immense implications for how businesses address religious considerations in the workforce. Take, for instance, a…
In the competitive and constantly evolving world of corporate law and legal practice, the phrase “every adventure requires a first step” has resonated deeply. Be it a grand corporate merger or a personal endeavor towards professional growth, the initial leap into the uncharted territory is critically essential. This concept from an article in JD Supra,…
In the landscape of renewable energy project development, there has been a traditional disconnect from the Davis-Bacon Act, a federal law dating back to the era of the Great Depression, which commands the payment of prevailing wages to laborers deployed on public works projects. Now, under the purview of the Department of Labor (DOL), the…
In the constantly evolving landscape of privacy laws, the task of keeping up with burgeoning legal obligations can be daunting. Add to that the challenge of identifying and mitigating ever-emerging legal and business risks, and there is a storm of complexity that legal and privacy professionals must navigate skillfully. Drawing from the recent experiences of…
The U.S. Environmental Protection Agency (EPA) has recently announced its federal enforcement priorities for the years 2024 to 2027. This crucial development comes as a decision made on the heels of confirming the U.S. EPA’s assistant administrator within the Office of Enforcement and Compliance Assurance. Every four years, the U.S. EPA selects its National Enforcement…
In a move that could have significant implications for technology companies worldwide, a new rulebook by European Union lawmakers threatens considerable fines for any missteps in combatting hate speech and online disinformation. Under these fresh regulations, any tech company that fails to implement adequate measures against these issues could face consequences in the form of…
The Canadian Institute is set to host the Canadian Congress on Real-Time Crime Center Operations & Tech Integration on October 4th and 5th in Mississauga, Ontario, Canada. The congress aims to bolster understanding of effective real-time crime center operations and the corresponding technology integrations amongst legal professionals. This event serves as an opportunity for industry…