The Consumer Product Safety Commission (CPSC) recently announced that globally-renowned home appliances manufacturer, Whirlpool Corporation, has conceded to pay a hefty $11.5 million civil penalty. This substantial settlement arises from the CPSC’s charges asserting that Whirlpool deliberately did not promptly report, as mandated by law, that 17 models of their electric radiant heat cooktops had…
In a disturbing turn of events, late last month, over 300,000 customers of Standard Insurance Company were impacted by a data breach. The breach, centered on the MOVEit data healthcare transfer service, was revealed by Pension Benefit Information, LLC (“PBI”). The extent of information accessed by unauthorized parties is believed to include sensitive details such…
In a recent development, the No Surprises Act (NSA) regulations have been struck down by the Eastern District of Texas court, marking the fourth defeat for the federal government in its attempts to combat cases brought by health care and air ambulance providers. Embodied in a case known as TMA III, the court’s decision specifically…
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…
In a move that came as significant, yet not unexpected, the Department of Labor (DOL) announced a Notice of Proposed Rulemaking on August 30, 2023, proposing to increase the Fair Labor Standards Act’s (FLSA’s) minimum salary threshold for white-collar overtime exemptions. This was reported by Kelley Drye & Warren LLP on their legal news page,…
As we traverse the labyrinth of legal regulation updates, it is essential to keep up with new mandates. One such significant update arrived in the form of the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting rule—Section 1071 Final Rule. Legal professionals worldwide, especially those working within large corporations and…
In an announcement made on August 25, 2023, the U.S. Securities and Exchange Commission (SEC) revealed its decision to grant an award exceeding $18 million to a whistleblower. The individual in question first reported misbehavior within their organization internally before providing key information and assistance that engendered a successful SEC enforcement action. The grant signifies…
With the turning of the midpoint of 2023, the arena of drug pricing sees an influx of developments. The Centers for Medicare & Medicaid Services (CMS) finalized its guidance to prepare for unprecedented price negotiations, putting a highlight on the initial 10 drugs covered under the Innovation and Regulatory Affairs (IRA). Meanwhile, the constitutionality of…
Numerous restaurants based in Nevada are facing allegations of employment discrimination and harassment, according to a recently filed federal complaint. The suit, initially reported by Law.com Radar, highlights a growing concern over workplace equity and safety within the hospitality industry. Details about the identities of the restaurants involved, the nature of the alleged discriminatory practices,…
The U.S. Securities and Exchange Commission (SEC) Chief Accountant, Paul Munter, has recently issued a statement underscoring the importance of comprehensive risk assessments by auditors and management of companies. Munter’s spotlight on comprehensive evaluation expresses concern towards tendencies within companies to carry out risk assessments with a too-narrow focus on information and risks that directly…
The Centers for Medicare and Medicaid Services (CMS) unveiled on August 24 that the Medicare Shared Savings Program (MSSP) yielded the second-highest annual savings for Medicare since the program’s inception in 2012, according to the 2022 MSSP Report. This year marked the sixth year in a row that the MSSP delivered net savings along with…
Last week, legal professionals from all over the world gathered in Orlando, Florida for the 43rd edition of ILTACON, one of the most prominent conferences in the legal tech industry. The event saw a significant turnout with about 3,400 onsite registrants, attesting to the importance and relevance of legal technology in today’s increasingly digital world….
As cases surrounding bullying are increasing, legal professionals are using the glare of publicity to incite change. The spotlight on these instances is becoming a potent tool, aiming to reform negligent behaviour and institute new procedures to prevent reoccurrences. Emily Suski, from the University of South Carolina School of Law, has noted that once corporations…
Several partners of the New York-based legal firm, Abelman Frayne & Schwab LLP, are under spotlight as the South American intellectual property law firm, Marval O’Farrell Mairal, is pressing charges against them. As per the lawsuit, the Argentinian firm asserts the partners to be liable for a debt exceeding $170,000. This amount stems from IP…
Law.com International recently undertook a comprehensive review of a vast array of submissions from leading law firms across Asia. Their objective was to compile Law.com’s inaugural list of Asia Rising Stars within the private equity field. Although the pool of contenders was impressively vast, the list has been meticulously whittled down to the top ten….
Despite the casual nature of a charity golf event, legal disputes can arise even in these relaxed settings, as we are witnessing in a case involving a denied golf tournament prize. The event, organized to benefit the Nova Southeastern University Orlando, promised an enticing Mercedes E Class vehicle as a prize for amateur golfers bagging…
Legal developments continue to unfold in the case surrounding two former clients of Cadwalader, Wickersham & Taft LLP. The international law firm has reportedly told a New York federal judge that two ex-advisers from IHT Wealth Management, who are now under the spotlight in a five-million-dollar criminal fraud case, have failed to demonstrate their inability…
The rise of AI technologies like generative AI and ChatGPT has indeed taken the spotlight in the legal tech world, as visible in events such as ILTACON. However, before the surge of AI discussions, another important topic started gaining momentum: cybersecurity. Security poses an existential threat to law firms and their clients, and legal has…
The Attorney General (AG) and federal regulators play pivotal roles in shaping legal landscapes across the U.S., making significant decisions that impact various sectors in significant ways. Here, we delve into several key stories highlighting areas where the influence of state and federal regulators is particularly salient. In Montana, the AG is playing a key…
The topic of marijuana usage during child custody cases is increasingly significant, considering the changing landscape of marijuana legislation. This heightening relevance can be evidenced in the recent Superior Court panel decision for the case of Humphrey v. Ross. This case, not to be confused with another high-profile child support battle – Humphreys v. DeRoss,…
Live from Orlando, Florida, the International Legal Technology Association’s annual conference, ILTACON, is a vibrant mix of old and new as industry mainstays rub shoulders with innovative startups. This year’s conference once more featured a Startup Hub, where 27 new legal tech startups set up shop to showcase their innovations. Although it was impossible to…
Mortgage originators and secondary market issuers have long relied on automated valuation models (AVMs) for calculating the value of collateral securing mortgages on consumers’ principal dwellings. With the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) reconfiguring the financial landscape, these processes have come under increased scrutiny. As a result of the Dodd-Frank…
China’s perspective on data privacy and cybersecurity has been under the spotlight over the past few years, notably following the introduction of the country’s Cybersecurity Law in June 2017. This focus intensified with the enactment of the Data Security Law and the Personal Information Protection Law in the latter part of 2021. After over two…
The Consumer Financial Protection Bureau (CFPB) recently initiated a lawsuit in a South Carolina federal district court against Heights Finance Holding Co. f/k/a Southern Management Corporation and a host of its entirely owned, state-licensed subsidiaries, jointly referred to as Southern. The CFPB has alleged that Southern contravened the Consumer Financial Protection Act’s Unfair, Deceptive, or…
The Nevada Occupational Safety and Health Administration (Nevada OSHA) has recently been under the spotlight due to their attempt to implement a novel regulation aimed at preventing heat-related illnesses among workers in the state. Despite the regulation not being successful in its passage during the 2023 legislative session, it’s by no means off the table…