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SEC Revises C&DI on Selling Securityholder Disclosure

On July 26, 2016, the SEC revised Question 140.02 of its Compliance and Disclosure Interpretations (“C&DIs”) on Regulation S-K, pertaining to selling securityholder disclosure. Revised Question 140.02 states that a registrant must…more

Connecticut’s Ban-the-Box Legislation Becomes Law: Have You Revised Your Company’s Job Application?

On June 1, 2016, Connecticut Governor Dannel Malloy signed into law Public Act No. 16-83, entitled “An Act Concerning Fair Chance Employment” (the “Act”). The lynchpin of the Act is that it prohibits an employer from inquiring about a…more

Unfair Competition in the Wine Industry

California counties are increasingly using California’s Unfair Competition Law (UCL) to bring government enforcement actions against local businesses for myriad reasons. California’s UCL is extremely broad, encompassing unlawful…more

Court of Appeal rules on indefinite demurrage claims

MSC Mediterranean Shipping Company S.A. v. Cottonex Anstalt - [2015] EWHC 283 (Comm) - A Court of Appeal decision handed down on 27 July 2016 of this week ruled that demurrage on detained containers, which could not be…more

Fidelity Prevails In ERISA Float Litigation

The First Circuit joined the Eighth Circuit in finding that Fidelity’s practice of earning overnight “float” interest on the cash paid out to 401(k) participants redeeming shares in mutual funds did not violate ERISA’s duty of loyalty…more

Goodwin Files Supreme Court Amicus Brief On Behalf Of The Mortgage Industry

On July 25, 2016, Goodwin filed a certiorari-stage amicus brief on behalf of the Mortgage Bankers Association, Consumer Mortgage Coalition, and several other mortgage industry groups. The case involves a Connecticut law that tripled…more

This Week In Securities Litigation

The Commission settled another FCPA action centered on the efforts of a Chilean airline to resolve its labor issues. The agency also filed four offering fraud actions: one based on an internet fraud; a second centered on the sale of…more

Massachusetts Nearing Enactment of Sweeping Pay Equity Legislation

Continuing a trend, Massachusetts is poised to implement major changes to its equal pay laws. Following the lead of California, New York, and Maryland, which each enacted expansive equal pay laws in the last few months, Massachusetts…more

Legal Alert: New York’s New BSA/AML Rule Imposes Monitoring, Filtering and Certification Requirements

On June 30, 2016, the New York Department of Financial Services (DFS) adopted a new anti-terrorism and anti-money laundering (AML) regulation (Final Rule) that builds on federal anti-money laundering requirements to address what the…more

Delaware Law Updates – What Is the Fair Value of a Stock? Delaware Court of Chancery Rejects the Transaction Price as the Most Reliable Measure

In two recent decisions out of the Delaware Court of Chancery – In re: Appraisal of DFC Global Corp., C.A. No. 10107-CB ("DFC Global") and In re: Appraisal of Dell Inc., C.A. No. 9322-VCL ("Dell") – Chancellor Bouchard and Vice…more

SEC Approves Nasdaq “Golden Leash” Disclosure Rule

On July 1, 2016, the Securities and Exchange Commission approved Nasdaq’s proposal for a “golden leash” disclosure rule (Rule 5250(b)(3)) requiring listed companies to publicly disclose benefits given by investors or other third…more

Individuals Granted Profits Interests Are Treated as Partners, Not Employees

The Internal Revenue Service (the “IRS”) issued temporary and final regulations, effective May 4, 2016, clarifying the employment tax treatment of partners in a partnership that owns a disregarded entity (the “Final…more

Australian Regulators Approve Samsung Bioepis’s Etanercept Biosimilar Brenzys

On July 22, 2016, Australia’s Therapeutic Goods Administration approved Samsung Bioepis’s biosimilar of Amgen’s Enbrel (etanercept), which is approved for treatment of rheumatoid arthritis. Samsung Bioepis’s product, called Brenzys…more

Browsewrap Agreement Held Unenforceable – Website Designers Take Note!

In Nghiem v Dick’s Sporting Goods, Inc., No. 16-00097 (C.D. Cal. July 5, 2016), the Central District of California held browsewrap terms to be unenforceable because the hyperlink to the terms was “sandwiched” between two links near the…more

Tips for Preclearing Insider Trades

Insider trading policies are among the most detailed and confusing of all corporate polices. And though they are not required by any SEC or stock exchange rule, virtually every public company has one. Included in almost every policy is…more

IRS Provides Guidance for Making an 83(b) Election

On July 25, 2016, in T.D. 9779, the IRS published final regulations concerning the procedures for making an election under section 83(b) of the Code. The new final regulation, Treas. Reg. §1.83-2, eliminates the requirement for the…more

IRS issues new rules for 'closed' defined benefit plans

At the end of January, the Internal Revenue Service issued new proposed regulations for so-called “closed” or “frozen” defined benefit plans. The purpose of these regulations is to help plan sponsors satisfy the non-discrimination…more

Life Technologies Corporation v. Unisone Strategic IP, Inc. (PTAB 2016)

Life Technologies Corp. filed a petition requesting covered business method (CBM) patent review of a number of claims of U.S. Patent No. 6,996,538. The PTAB determined that the claims are unpatentable under 35 U.S.C. § 101 as being…more

DOJ Extends Comment Period for ADA Title II SANPRM, Cites Impact on Title III Rule

Seyfarth Synopsis: DOJ announced today an extension to October 7, 2016 for the public to submit comments on the SANPRM for state and local government websites. In May of this year the Department of Justice surprised us by issuing…more

When a Policy Limits Offer is Not Enough: A Cautionary Tale of a Failure to Settle Case

In a recent unpublished decision, the California Court of Appeals upheld a $3 million judgment against an auto liability insurer that rejected proposed language in a settlement agreement, notwithstanding the insurer’s policy limits…more

Inducement and Risk of Liability for Worldwide Sales

The Supreme Court of the United States agreed to review a decision by the US Court of Appeals for the Federal Circuit regarding active inducement infringement under 35 USC § 271(f)(1) in a case important to US manufacturers that supply…more

Navigating the new landscape of government investigations: key points

As businesses expand their operations into new markets across continents and hemispheres, they are encountering a host of issues in addition to the complexities that go along with entering any new jurisdiction. Established and emerging…more

New Proposed Regulations for Section 457(f) Nonqualified Deferred Compensation Arrangements of Non-Profit and Governmental Entities

The Internal Revenue Service recently released long anticipated proposed regulations (the “Proposed Regulations”) governing deferred compensation arrangements maintained by tax-exempt organizations and governmental entities under…more

The Cost of Clarity: IRS Issues Regulations Addressing Proper Treatment of Code Section 50(d) Income

On July 21, 2016, the IRS issued long-awaited regulations under Section 50 of the Internal Revenue Code (the “Code”) clarifying the manner in which “Section 50(d) Income” is to be recognized in lease pass-through investment tax credit…more

Faulkner v. Hasbro Inc. - USDC, D. New Jersey, July 21, 2016

District court denies toy company’s motion to dismiss right of publicity claim brought by Fox News anchor Harris Faulkner, holding that fact that hamster doll in defendant’s Littlest Pet Shop toy line bore plaintiff’s “unusual…more

Hospital Text Messaging Rules Placed on Hold by Joint Commission

The Joint Commission, which accredits hospitals and other health care organizations, hit pause on its prior May 2016 announcement to allow secure text messaging in hospitals and other health care organizations. The use of text…more

Delaware Law Updates – Chancery Addresses Limitations of the Power to Delegate Authority to Third Parties in a Delaware LLC

In a recent Memorandum Opinion in Obeid v. Hogan, C.A. No. 11900-VCL, the Delaware Court of Chancery addressed the delegation of litigation authority by limited liability company ("LLC") managers. Christopher S. La Mack, Dante A…more

Brazil tax court decision on withholding of individual income tax on employee stock options: key takeaways for companies

A recent decision by the Brazilian Federal Administrative Tax Court (CARF) partially settles the debate between Brazilian tax authorities and companies regarding the treatment of employee stock options for purposes of withholding…more

District Court Finds Forum Selection Clause Unenforceable in ERISA Action

A federal district court in Illinois ruled that a plan’s forum selection was unenforceable because it conflicts with ERISA’s public policy of providing plaintiffs “ready access to the Federal courts.” Darlene Harris purchased a…more

Trademarks in Building Designs

Think twice before including a landmark building on your product packaging. That’s the lesson of a recent case in the U.S. Trademark Office, Trademark Trial and Appeal Board (the “Board”). There the applicant, a producer of beers…more

2.7 Million Dollar HIPAA Settlement

Last week, Oregon Health & Science University (“OHSU”) agreed to pay $2.7 million to resolve potential violations of the Health Insurance Portability and Accountability Act of 1996 (“HIPAA”) Security Rule, Privacy Rule, and Breach…more

Business Law - Amalgamation

The decision to amalgamate the companies should be made in accordance with the provisions adopted for the amendment of the Memorandum and Articles of Association of the company, and will only be valid subject to the approval of the…more

Potential Legal Implications Arising from "Brexit"

On June 23, 2016, the United Kingdom (UK) voted by way of an advisory referendum to leave the European Union. While the result will not take immediate legal effect, incoming Prime Minister Theresa May has indicated that “Brexit is…more

FERC Civil Penalties May Be Subject to Full Judicial Review

A Federal District Court recently held that a proposed civil penalty assessed by FERC was subject to a full trial de novo where the respondent elects to forego a hearing before an Administrative Law Judge, a matter of first impression…more

Unlocking the EU General Data Protection Regulation: A practical handbook on the EU's new data protection law: Chapter 15: Cooperation and consistency

Why does this topic matter to organisations? Under the Directive, organisations are obliged to deal with a separate DPA for each Member State whose laws apply to them. This has meant that businesses faced a range of inconsistent…more

OSHA overreach on workplace drug testing

Responsible employers routinely test employees for the use of illegal drugs. Testing promotes safety, controls workers’ compensation costs and promotes compliance with federal regulations. Oklahoma law gives employers the right to test…more

High Speed Hiring: The Importance of Anti-Discrimination Practices in Online Employment Advertising

There are currently more than 1 billion websites accessible to the world by just the click of a mouse or the swipe of a phone screen. The Internet has become a major part of more than 3 billion active users everyday lives, with people…more

FERC Goes Back to the Drawing Board on Data Collection Rule

On July 21, 2016, the Federal Energy Regulatory Commission (FERC) proposed a new data collection rule that would require market-based rate (MBR) sellers and entities trading virtual products or holding firm transmission rights (FTRs)…more

Private Attorney General Act Amendment Permits More Government Oversight of Claims

Buried in an appropriations bill designed to address no fewer than 42 separate issues is a small, but important item for California employers. In response to requests for legislative restrictions on the Private Attorneys General…more

Energy Technology Connections Newsletter: Your Law Firm Link to Industry News - July 2016

A Note from the Editors - Our July edition of Energy Technology Connections brings you recent industry highlights and a list of upcoming energy industry events. In Leaders in the News, we profile our friends at Greentown Labs for…more

The potential class action: British Columbia Supreme Court keeps door open to certification of wrongful dismissal claim

In Tonn v Sears Canada Inc.1 the British Columbia Supreme Court rejected a plaintiff’s attempt to certify a class action for wrongful dismissal under the Class Proceedings Act2 (“CPA”). However, this was not the end of the road for the…more

Poor Policy Publication Revives Sexual Harassment Suit in the Fifth Circuit

Maintaining a company anti-harassment policy on a bulletin board and website is not enough to avoid liability for sexual discrimination according to a recent decision. On July 20, 2016, the Fifth Circuit Court of Appeals revived a…more

Banks Appeal Fair Housing Act Case to Supreme Court

In September 2015, the Eleventh Circuit ruled that the City of Miami had sufficient standing to sue Bank of America and Wells Fargo over lending practices that were alleged to be racially discriminatory. On June 28, 2016, the U.S…more

MTC Annual Meeting Update: Market-Sourcing Regulations Presented to Executive Committee

On July 28, the Multistate Tax Commission (“MTC”) held its Executive Committee Meeting. The Executive Committee voted to accept the Uniformity Committee’s recommendations for a taxpayer’s prospective change in its method of…more

OECD BEPS Working Groups issue three discussion drafts

The Committee of Fiscal Affairs of the Organization of Economic Cooperation and Development (OECD) has released three documents: its proposed updated guidelines on the application of the transactional profit split, draft guidelines on…more

FDA Announces Biosimilar User Fee Rates for FY 2017

The FDA has announced the rates for biosimilar user fees for the 2017 Fiscal Year... The biosimilar user fees for a given fiscal year are calculated as a percentage of the fee rate established under the Prescription Drug User Fee…more

Federal Court Grants Full Civil Trial to FERC Enforcement Target

The decision will likely affect the strategies of enforcement targets in electric market manipulation cases. For the first time, a federal district judge has held that a review of a Federal Energy Regulatory Commission’s (FERC’s)…more

Development of the practice on assessing of withholding tax on interest income (coupon yield) payable by a Russian company for Eurobonds purchased on the secondary market

On 29 June 2016 the Commercial Court of Moscow rendered a decision in the case No. ?40-178650/15-75-1487 under the application of Gazprombank JSC (the “Bank”). The decision contains a number of findings that in future may be used both…more

IRS Issues Proposed Rules on Income Inclusion under Section 50(d)(5)

The IRS just published long-awaited temporary regulations under section 1.50-1T governing the section 50(d)(5) income inclusion rules. These rules apply to lessees of investment credit property when the lessor elects to treat the…more

Brexit: Environmental law - what does the future hold?

Three things you need to know - - EU environmental law is commercially significant for many businesses operating in the UK. The EU has been very important in influencing and driving change in most areas of UK environmental…more

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