In a pivotal move, a hike in the minimum wage for workers associated with federal contracts will be taking effect from January 1, 2024. The DOL (Department of Labor) has announced an increase from $16.20 to $17.20 per hour. The significant adjustment, which will mark the second consecutive year of augmenting the minimum wage, will…
The intricacies of legal adherence in the healthcare sector, particularly for medical directors and attending physicians, are increasingly coming into focus. Rules and regulations concerning attending physician visits and the role of medical directors prove manifold, with the challenge often hinging on accurately documenting such visits, establishing compliant medical director contracts, and navigating the complexities…
The legal landscape is experiencing evolution as the controversy over the extent to which sovereign immunity of Governmental Units (as defined in the Bankruptcy Code) is waived in bankruptcy avoidance litigation, seems to widen. For context, it’s essential to understand that bankruptcy trustees and chapter 11 debtors-in-possession (“DIPs”) routinely seek to avoid fraudulent transfers. They…
The latest development in compliance enforcement comes as the Department of Justice (DOJ) has solidified its precedent of using the False Claims Act (FCA) to maintain cybersecurity standards. This reaffirmation came on September 5, 2023, when the DOJ announced its FCA settlement with Verizon Business Network Services, LLC evidenced this trend. The DOJ’s action was…
The Securities and Exchange Commission (SEC) announced it had arrived at settlements tied to charges against both CBRE, Inc., a Dallas-based commercial real estate services and investment firm, and D.E. Shaw & Co., L.P. In these cases, the SEC focused on violations of Rule 21F-17(a) under the Securities Exchange Act of 1934. This rule is…
In the constantly evolving landscape of labor law, recent changes to California legislation have further toughened the state’s stance on noncompete agreements. California has long been known for its restrictive attitudes towards these employment contracts, with the law historically banning such agreements with extremely few exceptions. The latest update extends legal prohibitions even further, now…
In the wake of the COVID-19 pandemic, the field of aviation finance and leasing has encountered a slew of challenges that have required the expertise of legal professionals equipped in this area. The crisis has greatly affected the global aviation industry, compelling both operating lessors and financiers to seek consultations from legal counsel on multifaceted…
The stays and hurdles of the United Auto Workers (UAW) Union strike against Detroit’s “Big Three” automakers that commenced on September 15th remain unresolved. The severity of the situation amplified when approximately 5,500 UAW workers initiated walkouts at 38 parts distribution sites throughout the U.S. These sites, owned by General Motors (GM) and Stellantis, observed…
Recent data suggests that mergers and acquisitions (M&A) activity has experienced a significant slowdown in the wake of a post-COVID boom, falling by as much as 44% in global value during the first few months of 2023. This data was revealed in a report issued by Bain & Company. Given this trend, private equity sponsors…
It’s time to double-check your documentation, contractors, and ensure you have your Unique Entity ID (UEI). The Equal Employment Opportunity Commission (EEOC) has instigated some significant modifications to the EEO-1 Report, most notably requiring federal contractors to provide their UEI. This serves as a twelve-character alphanumeric identification, assigned to contractors via the federal government’s System…
Many corporations and large enterprises use separation agreements with their departing employees as a typical practice. These agreements provide some form of separation benefit for the leaving employee, frequently in the form of a financial payment or severance package. In return, the employee gives up and releases any potential claims they might have against the…
In an influential move within the legal landscape, the court’s expansive interpretation of the term “securities contracts” has broadened the reach of the Bankruptcy Code’s “safe harbor” provision significantly present under section 546(e). This section has consistently been a subject of controversy due to its role in preventing the avoidance of certain types of contractual…
In the fiercely competitive political arena of the 2023 elections, maintaining compliance with pay-to-play regulations remains a pressing concern for corporations seeking or currently holding state and local government contracts. As the elections are just over a month away, these businesses have hopefully been diligently educating their directors, officers, and other personnel about the significance…
The Securities and Exchange Commission (SEC) recently launched its inaugural enforcement actions against non-fungible token (NFT) issuers. The consequential measures involve cease-and-desist orders, penalties, and other remedial actions, positioning NFTs as investment contracts and accusing both issue agencies of unregistered security offerings which infringe upon Section 5 of the Securities Act of 1933. These actions…
On September 1, 2023, California Governor Gavin Newsom made a significant change to employment law in the state by signing SB 699 into law. This legislation amends the California Business & Professions Code Section 16600, thereby escalating the state’s prohibition against non-compete agreements. The new law prevents employers from entering into or attempting to enforce…
In a recent development, the Supreme Court of New York ruled in a landmark case, State Farm Fire & Cas. Co. v. Tamagawa, Index No. 510977/2021, 2023 N.Y. Misc. Lexis 5434, that an insurer has the right to settle its property subrogation lawsuit with the offender and discontinue the lawsuit regardless if the insured has…
In a world infused with digital communication, the thin line that separates personal and work lives has become increasingly opaque. In a landmark case, The High Court of Madras in Madurai, India has ruled that employees cannot face dismissal for sending offensive messages about their boss in a privately-operated chat group, such as WhatsApp. For…
In current times of rising interest rates and inflation, some buyers of condominiums offered in the pre-sale (or pre-construction) phase are experiencing potential buyer’s remorse as the closing date for their apartment purchase approaches. More often than not, they have signed a purchase agreement years in advance while the economic situation was different. According to…
When the US Congress missed agreeing on a new budget by midnight on September 30, 2023, it cast a long shadow of uncertainty over countless federal programs, many of which are now left in flux due to the subsequent government shutdown. Experts foresee significant impacts on the contracts for supplies and services, which fall under…
On August 7, 2023, a proposed amendment to the Federal Acquisition Regulation (FAR) was introduced with the aim of enforcing anti-trafficking reporting requirements on US-flag air carriers. This proposal was put forward by multiple US federal entities, namely the Department of Defense, the General Services Administration, and the National Aeronautics and Space Administration. If approved,…
On July 19, 2023, significant implications were made apparent on the U.S. Small Business Administration (SBA)’s 8(a) Business Development program. The U.S. District Court for the Eastern District of Tennessee in the Ultima Services Corp. v. U.S. Department of Agriculture case imposed an injunction on the SBA. It prevented the SBA from determining federal contractor…
The rates for outside legal counsel continue to rise, according to the recently published CounselLink 2023 Trends Report Mid-Year Special Edition. Specifically, statistics reveal that in 2022, the average partner billing rate increased by 4.5%, marking the most significant increment in the report’s decade-long history. This upward trend does not appear to be slowing with…
Understanding bid protests is essential in the ever-evolving world of corporate legal practice. With the end of the federal fiscal year approaching, the number of contract awards tends to spike, leading to an increase in protests opposing those decisions. Whether you’re already involved in a bid protest or anticipate being part of one, you’re part…
In the high-paced sphere of commercial real estate, there are instances when buyers and sellers may not be able to complete all contractual obligations before the closing of the deal. Often, they will specify certain “post-closing” matters within the contract. Regrettably, if these provisions are not meticulously drafted to “survive” the closing process, their terms…
The US Court of Appeals for the 11th Circuit has temporarily enjoined a venture capital fund’s contest that awards Black women-run businesses according to an appeal from the US District Court for the Northern District of Georgia Atlanta Division. The plaintiff, American Alliance for Equal Rights (AAER), argued that the Fearless Strivers Grant Contest, facilitated…