Amid various legal battles, the National Labor Relations Board (NLRB) has decided to delay the effective date of its new joint-employer rule. Initially set to come into effect on December 26, 2023, the implementation date has been extended to February 26, 2024, as detailed in a recent report by Kelley Drye & Warren LLP. The…
The U.S. Federal Trade Commission (FTC) recently issued warning letters to two trade associations and twelve social media influencers. Dated November 13, 2023, the letters advised the recipients that their disclosures of material connections in social media posts concerning sugar and aspartame were regarded as inadequate. The FTC’s action follows its publication of updated Endorsement…
The cryptocurrency sector has typically been a market known for its “wild west” atmosphere, with some players often seemingly operating with little regard for traditional financial regulatory frameworks. However, a recent case involving Binance, one of the world’s largest cryptocurrency trading platforms, may serve as a stark reminder to all industry players that such lawlessness…
One of the cornerstones of maintaining productive relationships in the legal realm – and indeed Human Resources at large – is to express gratitude when and where it is due. As we look towards the future, the importance of thankfulness, even in a seemingly chaotic world, cannot be understated. As the year 2023 beckons on…
Earlier this November, the United Kingdom played host to the AI Safety Summit, featuring over 100 representatives from across the globe. The AI Safety Summit’s focus was on the objectives and approach of the UK government towards artificial intelligence (AI) regulation, a topic of increasing import in the legal landscape. The events and outcomes of…
On the 21st of November, 2023, the federal government of Canada revealed its Autumn Fiscal Statement in which it outlined further legislative measures it intends to take along with its action plan for the economy. The statement announced among other things, substantial changes to the current Competition Act encompassing a wide array of aspects including…
Wachtell, Lipton, Rosen & Katz, one of the esteemed law firms in the United States, has guided Abbvie Inc., a renowned biopharmaceutical company, through a billion-dollar acquisition. Abbvie Inc. has agreed to purchase ImmunoGen Inc., a leader in the field of cancer drug manufacturing, for $10.1 billion. The announcement of the substantial transaction was made…
In a significant development in the health and life sciences private equity space, Gauge Capital has announced an investment in the East Coast Institute for Research (ECIR). The details of the deal, however, have not been made public at this time. With its primary focus on private equity investments in rapidly-growing companies, Gauge Capital is…
On November 22, 2023, it was announced that the Securities and Exchange Commission (SEC) has issued a stay on its Share Repurchase Disclosure Modernization rules, which were adopted earlier in May 2023. The rule changes, previously set to become effective on July 31, 2023, proposed a significant reshaping of the disclosure protocol relating to share…
In a bid to enhance data-sharing and streamline its customer’s workflows, the law practice management company MyCase has unveiled a public API that allows easier integration with third-party software. This development is a significant move for MyCase as it grants its customers the capacity to expand their software applications with increased interoperability across multiple systems….
Orrick’s Founder Series is a valuable resource for legal professionals targeting startups and enterprises at each stage of their growth lifecycle. Their objective is to guide companies from incorporation, to scaling up, and through potential exit strategies. The series is crafted by members of Orrick’s market-leading London Technology Companies Group (TCG), which also includes contributions…
The Corporate Transparency Act (CTA), enacted in 2021 as a section of the Anti-Money Laundering Act of 2020, requires certain business entities (known as “Reporting Companies”) to disclose their beneficial ownership information (BOI). The act extends to entities created or registered from January 1, 2024, onwards, necessitating them to submit information concerning any individual who…
In a remarkable ruling by the Montana Supreme Court, a question of modern law in the digital era has been broached. The court found that actions conducted on social media platforms, like Facebook, could be considered when determining personal jurisdiction based on the ‘minimum contacts’ principle. The case that instigated this ruling is Groo v….
The ongoing tug of war between privacy rights and technological innovations in the legal field has taken a momentous step forward with the California Privacy Protection Agency (“CPPA”) proposing draft regulations on Artificial Intelligence (AI) and automated decision-making technologies. According to a feature on JD Supra, the proposed regulations by CPPA address systems that utilize…
As the end of the year approaches, it is important to remember that the December 31 attestation deadline for the gag clause prohibition in group health plans is impending. This is a matter that all legal professionals, particularly those managing corporate health insurance packages, should be informed about. The Consolidated Appropriations Act of 2021 significantly…
Cloudbeds, also known as Digital Arbitrage, Inc., has agreed to pay $150,000 to settle a disability discrimination lawsuit levied by the U.S Second Equal Employment Opportunity Commission (EEOC). The resolution follows allegations that the remote-first global technology company refused to accommodate and hire a deaf applicant, sparking an investigation by the federal agency. The lawsuit,…
In a recent decision that is becoming indicative of a trend favoring landlords, a court has denied a commercial tenant’s plea for rental relief citing “temporary frustration of purpose” during the COVID-19 pandemic. The case in question is West Pueblo Partners, LLC v. Stone Brewing Co., LLC, one of the first legal disputes to arise…
In recent news, the Justice Department (DOJ) and the Consumer Financial Protection Bureau (CFPB) issued a joint statement last month that has significant implications for financial institutions. The focus of this statement was centered on antidiscrimination in lending practices. This new reminder effectively speaks to all credit applicants, asserting a principle that they are to…
The Federal Reserve System’s Board of Governors issued a final rule on November 27, 2023, addressing Risk-Based Capital (RBC) requirements for depository institution holding companies that are significantly involved in insurance activities. According to a JD Supra report, the final rule serves as an uncommon instance of federal regulation intersecting with the insurance arena, which…
In recent years, Japan has been strategically positioning itself as a hub for international arbitration. As reported by JDSupra, the country has been implementing key legislative changes since 2017 to strengthen its appeal in the arena of arbitration. Integral to these changes are amendments to the Arbitration Act of Japan. These modifications are anticipated to…
Biglaw firms occupying the highest ranks of the Am Law 100 have started a cascade of increasing cash rewards for their associates. These beacon firms raise their associates’ financial expectations through higher yearly salaries and bonuses, following the latest compensation scales set forth by Cravath. Davis Polk, a venerable leader in remuneration and reported gross…
With reassessments in regional wage models, speculated climate shifts seem to have found an unlikely companion; as temperatures decrease, the U.S. minimum wage, tip, and exemption employee pay are projected to increase in some parts of the country from January 1, 2024. This development is a part of scheduled state- and local-level wage increments and…
As advancements in technology continue to make waves in various industries, the legal sector is not left behind. Generative Artificial Intelligence (AI) marks such an innovation, with potential to majorly influence and enhance legal research capabilities. Accurate, punctual and efficient legal research is critical to the activities within corporate law firms; inaccurate or delayed information…
In a significant shakeup of longstanding legal precedent, the Fifth Circuit Court of Appeals, a federal level appeals court, has recently eased the way for plaintiffs to pursue employment discrimination lawsuits. The decision, however, has not provided explicit instructions to employers on how to modify their policies to minimize the risk of such litigation. This…
Earlier this week, the National Labor Relations Board (NLRB) faced a high-profile case when it denied a motion to reconsider by the employer in the case of Cemex Construction Materials Pacific LLC, 372 NLRB No. 157 (2023). This decision not only validated the applicability of its recent Cemex standard but also highlighted the possibility of…