As we navigate through the final quarter of the year, we would like to draw attention to a pressing matter concerning companies listed on the NYSE/Nasdaq stock exchanges. The approaching deadline for the implementation of a so-called “Clawback Policy” is one that should not be overlooked. This requirement, made necessary by the Securities and Exchange…
On August 30, 2023, the U.S. Department of Labor (DOL) announced a significant proposed increase to the salary threshold for exemptions to the Fair Labor Standards Act’s (FLSA) overtime pay requirements. This significant amendment will soon have a large-scale impact on many businesses, particularly employers. It’s important for employers and legal professionals to understand that,…
The Department of Labor (DOL) revealed plans on August 30, 2023, to introduce new regulations aimed at increasing the number of employees classified as non-exempt, thereby entitling them to overtime compensation. According to an announcement by Schwabe, Williamson & Wyatt PC, this proposed change is bound to have significant implications for many corporations and law…
In a significant legal development, the U.S Court of Appeals for the District of Columbia venue for the first time addressed an unsettled issue, finding that the Copyright Act of 1976’s deposit requirement contravenes the fifth amendment’s Takings Clause. In a case captioned Valancourt Books, LLC v. Merrick B. Garland and Shira Perlmutter (Case No….
Florida’s unique legal framework offers distinctive tools for insurance companies, among them, the 120-day pay and investigate rule. This rule is particularly instrumental in situations where an insurance claim raises questions requiring in-depth investigation. As stipulated by Florida law, when a workers’ compensation claim is made, insurance companies are obligated to either accept or deny…
The Department of Labor (DOL) has issued a proposed rule that could significantly alter the landscape of overtime eligibility in the United States. The proposed rule intends to increase the salary required to be considered “exempt” under the Fair Labor Standards Act (FLSA). If enacted, an estimated 3.4 million more workers are likely to qualify…
The complex world of international taxation continues to evolve and hold the attention of multi-national corporations and international law firms. A particular facet of this domain, which is currently under scrutiny, is the issue of deferred compensation and services overseas, specifically regarding the complexities of withholding taxes. Approaching the year’s end often brings about a…
Easop, a startup central to equity compensation management and compliance software, revealed its latest funding round from Cooley’s investment fund and tech venture capital unit SemperVirens. While the financial specifics of the deal remain undisclosed, the anticipated synergy between Easop and Cooley promises much more than monetary support.Additional context reveals that Easop stands to gain…
The Securities and Exchange Commission (SEC) has now approved final clawback policy listing requirements for the NYSE and Nasdaq markets, following a series of delays and a threatened accelerated timeline. A comprehensive legal review published on JD Supra provides an in-depth look into these adjustments and their potential implications. The listing standards dictate that these…
The U.S. Department of Labor (DOL) recently proposed to restructure its rules regarding the exemptions of workers from overtime payment, presenting a potential sea-shift in the way employees are compensated for hours worked above the standard forty per week. The proposed alteration rests on modifying definitions in the Fair Labor Standards Act (FLSA), which mandates…
Lewis A. Kaplan, US District Judge for the Southern District of New York, on Wednesday ruled that former President Donald Trump was liable for both sexually abusing and defaming writer E. Jean Carroll. The decision came as an outcome of an earlier ruling stating that the jury in an upcoming trial will only need to…
The Department of Labor (DOL) announced a Notice of Proposed Rulemaking (NPRM) concerning employer obligations to overtime pay on the 30th of August, 2023. This proposed rule is anticipated to place substantial new responsibilities on various industries – from financial institutions to other commercial businesses – necessitating them to provide overtime pay, or time-and-a-half, to…
On August 16, 2023, the Court of Appeals for the Third Circuit brokered clarification concerning the test courts should use when determining if workplace uniforms or safety gear are integral and indispensable to an employee’s principal activities of employment. This clarification also extended to whether time spent dressing (donning) and undressing (doffing) should be compensable…
The Employee Retention Credit (ERC) program, though perhaps not as recognized as the Paycheck Protection Program, was a significant initiative in the COVID relief efforts administered by the federal government. Aimed at supporting businesses throughout 2020 and 2021, the ERC allowed employers to claim refundable payroll tax credits. These amounted up to $10,000 per employee…
On August 30, 2023, the U.S. Department of Labor (DOL) announced a proposed rule, designed to “restore and extend overtime protections to 3.6 million salaried employees”. This proposed rule, if finalized, would raise the mandatory salary levels for certain employees to qualify for exemption from overtime pay under the federal Fair Labor Standards Act (FLSA)….
Last month, an unexpected event shocked the global legal and medical community. Multiple arrests were made in connection to a human trafficking ring, based out of a well-respected fertility clinic in Greece, the Mediterranean Fertility Institute known for treating patients with infertility for over three decades. On August 8, 2023, Greek police conducted a raid…
In a recent analysis by Corporate Counsel, in partnership with ALM Intelligence, it was found that female General Counsel (GC) at Fortune 1000 companies received slightly higher total compensation than their male counterparts in the last fiscal year. The study, which drew on pay disclosures by the U.S. Securities and Exchange Commission, also noted a…
In recent findings of a poll conducted by Law.com, a majority of legal professionals predict an upsurge in law firm layoffs before the year comes to a close. Concerns, however, have been raised over claims of “overcapacity”, particularly with respect to support staff. The poll, conducted anonymously, gathered 47 responses from across the United States….
Dealing with the aftermath of a truck accident can be an overwhelming experience. Specifically, in the state of Florida, numerous legal complexities can come into play, making it critical for victims to have a sound understanding of their rights and how to protect them. Such knowledge can heavily influence the success of compensation claims and…
Over recent years, attention to environmental, social, and corporate governance, commonly known as ESG issues, has witnessed a notable increase among companies across the globe. This concept, initially adopted mostly within financial circles, has been increasingly introduced to wider audiences, including people with no finance background. This can partly be attributed to politicians such as…
In a significant move on August 16, 2023, a unanimous three-judge panel of the Third Circuit reversed and remitted a decision from the Middle District of Pennsylvania. This initially held that the period oil-rig staff spent changing in and out of their protective equipment was not subject to compensation. The ruling from the Middle District…
In the often chaotic aftermath of a car accident, victims may overlook the immediate need to seek medical attention, especially when injuries are not immediately apparent. This oversight can greatly affect personal injury claims in court, particularly in Florida. Reporting from a piece by Searcy Denney Scarola Barnhart & Shipley on JD Supra, highlights the…
In an evolving legal workforce landscape where flexibility is becoming an increasingly valuable commodity, one major question persists: can firms effectively utilize flexibility in terms of expectations, hours, and remote work as a tool for recruitment and retention? While the consensus on this remains divided, it is evident that a greater degree of flexibility does…
On August 30, the Department of Labor (DOL) issued a Notice of Proposed Rulemaking, with an aim to revise the white-collar exemption salary thresholds under the Fair Labor Standards Act (FLSA). The proposal seeks to increase the salary threshold, i.e., the amount an executive, administrative, or professional employee must earn to potentially qualify as exempt,…
In a step towards enhancing the compensation of the American working population, the Labor Department has recently proposed a rule increasing the salary threshold for overtime-exempt employees from the existing $35,568 per annum to $55,000 per annum. The proposal comes in light of ongoing discussions surrounding overtime regulations and their implications on both employers and…