In the face of ever-changing legal landscapes, effective consequence management systems prove to be more critical than ever for organizations globally. Such systems, when effectively implemented, determine the ability of corporations and law firms to navigate complex and demanding legal requirements. One notable development in this regard has been the recent announcement by the Department…
In the ever-shifting landscape of corporate law, the question of disclosure remains as pertinent as ever. Specifically, the quandary centers around this: Is it vital to document everything in corporate interactions or is discretion sometimes the better part of valor? The legal axiom demands full disclosure of all matter material and necessary in both prosecution…
The Eleventh Circuit Court of Appeals recently joined the likes of the Second, Third, Fifth, Sixth, Seventh, Ninth, Tenth, and D.C. circuits with their latest en banc decision. Earlier this year, the bench presided over the case of Corporacion AIC, SA v. Hidroelectrica Santa Rita S.A.. At issue was whether the grounds for vacatur under…
Another legal action surfaces from the realm of social media, this time involving renowned supermodel Bella Hadid. It’s a territory that is increasingly fraught with copyright disputes, the latest of which accuses Hadid of infringing upon a company’s copyright with an image of herself posted on Instagram. The suit against Hadid is not an isolated…
In a recent legal development, the First Circuit Court of Appeals handed down a decision in Powers v. Receivables Performance Management, LLC, holding that a motion to reconsider an appealable interlocutory order denying a motion to compel arbitration is not appealable. This significant ruling is crucial for legal professionals and corporate entities involved in litigation…
The recent fee ruling issued by the Delaware Chancery Court in the Dell settlement case has sparked a wide range of responses amongst legal experts. In a noteworthy decision, the court awarded shareholder attorneys a fee of $266.7 million in relation to the $1 billion Dell settlement. This ruling is seen as a victory for…
Law firms and corporations with a stake in the European financial sector should be aware of a new development announced on 20 July 2023. The Council of the European Union has reached a political agreement with the European Parliament on the proposed Directive amending two significant directives – the Alternative Investment Fund Managers Directive (2011/61/EU),…
The United States Ninth Circuit Court of Appeals has revived a lawsuit under the False Claims Act (FCA), that accuses Valeant Pharmaceuticals of fraudulently acquiring a patent to prolong the monopoly over its drug Apriso. The suit had initially been dismissed because of the rule known as the ‘public disclosure bar’ – a federal rule…
Recently, attention has shifted to the Florida public procurement space, specifically with regard to SB 264 (Chapter No. 2023-33, Laws of Florida), a law enacted to restrict foreign investment in the Sunshine State. The law, which went into effect on July 1, 2023, introduces new constraints on select individuals and entities related to countries like…
In the wake of the controversial reception of the new Barbie film, the debate over its allegedly “woke” and “feminist” messages has taken the public and legal domain by storm. This comes in response to a number of commentators across the US, expressing their concern through various acts of protest, including, shockingly, the burning of…
With the rapid rise of social media platforms, it’s not surprising to see many sectors harness these platforms’ potential for their marketing strategies. One such platform making waves recently is TikTok. Interestingly, and somewhat surprisingly, law firms are not exempt from this trend. Published recently on JD Supra, an article titled “TikTok for Lawyers: The…
The Internal Revenue Service (IRS) has announced significant updates to its fast-track program for certain corporate tax rulings. The new program, known as Revenue Procedure 2023-26, was issued on July 26, 2023, replacing an 18-month pilot program under Revenue Procedure 2022-10. It aims to enhance efficiency by promising rulings within 12 weeks, remarkably even in…
As law school graduates are entering the job market, it’s evident the starting salaries they are being offered are noteworthy. If you would like to delve into the figures, and perhaps compare it to your own remuneration package when you first embarked on your career, you will find the expected digits, as they stand in…
The legal world continues to be a dynamic landscape, wherein corporations, as much as their individual employees, are called out into court for settlement of various disputes. As such, there are significant developments that may be of interest to legal professionals in the corporate sector. Consider the case of President Trump, who continues to assert…
In a recent patent lawsuit involving technology giant Apple and its South Korean competitor Samsung, Western District of Texas Judge Alan Albright demonstrated a contrasting decision in the courtroom. Significant to the legal professionals and corporations worldwide, this occurrence casts useful insights into the current justice system’s decision-making process with respect to patent suits. Apple…
Lordstown Motors, the bankrupt electric automaker, revealed to a Delaware judge that it had received expressions of interest from 13 potential bidders as part of its Chapter 11 sale process. Despite a forthcoming trial over trade secret claims, which has undoubtedly caused estrangement amongst some potential suitors, the judge approved the majority of Lordstown’s proposed…
On July 31, 2023, the Internal Revenue Service (IRS) released Revenue Ruling 2023-14, a decisive change in how cryptocurrency staking rewards are viewed from a tax perspective. According to the new guidance, the fair market value of staking rewards received by a cash-method taxpayer is now deemed includible in the taxpayer’s gross income for the…
Apple Inc. recently approached the Trademark Trial and Appeal Board with a plea to revise its attempt to register the “Apple Music” mark. This followed a loss suffered by the technology giant at the Federal Circuit. Notably, the request includes the removal of a section concerning live performances. The particular case at the Federal Circuit…
After witnessing relatively subdued activity in 2021 and 2022, Chapter 11 commercial bankruptcy filings appear to be on the rise again. A recent report, released by Epiq Global, revealed that July registered a notable uptick in the number of filings, marking 71% more than the same period the previous year. For those of you interested…
Significant changes to the Delaware General Corporation Law that took effect on August 1, 2023, sees a reduction in the need for shareholder votes on some corporate matters. The alterations that have garnered the most attention are those affecting requirements for shareholder votes, particularly initiating a reverse stock split and changing the number of outstanding…
Welcome, esteemed legal professionals, to the 20th issue review of the so-called ‘Blockbuster Biologics’. As per usual, we take a deep dive into the most recent happenings in the world of biologics and biosimilars, with a particular focus on patent litigation and post-grant challenges. In the wake of the Biologics Price Competition and Innovation Act…
While the Supreme Court’s overruling of affirmative action and Biden’s student loan forgiveness cases certainly garnered a significant amount of media attention, a number of quieter cases may bear profound consequences for various facets of American life. The public health and environmental sectors anxiously await the implications of Sackett, while artists ponder how they will…
Due to his influential tenure as President of the United States, legal professionals worldwide have developed a keen interest in understanding former President Donald Trump’s various legal troubles still being adjudicated. This discussion focuses on the critical points of the three prominent cases currently open against him, which carry a mindboggling maximum statutory penalty totalling…
Global offshore law firm Harneys has entered definitive agreements to sell its fiduciary business, according to a recent announcement. This transaction has received support from prominent global private equity firm Hillhouse. Financial details related to this sale remain undisclosed. As is often the case with such divestment, this strategic move is intended to fuel further…
On July 12, 2023, the European Union initiated the Foreign Subsidies Regulation (FSR), a sweeping set of regulations that now apply to all non-EU and EU companies across every economic sector. This legislation effectively fills a void in regulatory oversight that had persisted since 1958. According to legal analysis by Sheppard Mullin Richter & Hampton…