Latest Updates

The SEC (Sort of) Extends EGC Benefits to All Issuers

On June 29, 2017, the Securities and Exchange Commission ("SEC") extended to all issuers some of the benefits that Congress granted to emerging growth companies ("EGCs") in 2012 under the Jumpstart Our Business Startups Act (the "JOBS… more

Hot List – Summer Recess Edition

Our weekly California Legislature “hot list” provides you with a preview of the bills that are up (as well as other important legislative action) the following week. Recap of Legislative Bill Activity Last Week The following bills… more

Defence & Indemnity - June 2017 : INSURANCE ISSUES F. Royal & Sun Alliance Insurance Company of Canada v. Intact Insurance Company, 2017 ONCA 381, per Juriansz, J.A. [4232]

I. Insurance Issues: F. Where an auto insurer employs an insurance form (such as a policy, endorsement, or application,) that has not been approved by the Superintendent, the unapproved form will be interpreted by the courts on the… more

Health Care Weekly Preview from ML Strategies – July 2017 #3

We head into the last week of July with the Findings of the Senate Parliamentarian in hand, who ruled late Friday that several provisions in the Better Care Reconciliation Act (BCRA) released on June 26th would be subject to the… more

PTAB Denies Joinder of IPR Petitioner That Won’t Take “Silent Understudy” Role

In orders entered July 10 and 12, 2017, the PTAB instituted further inter partes review (IPR) of six Allergan Inc. (“Allergan”) patents relating to cyclosporine compositions. Each of U.S. Patent Nos. 8,633,162, 8,685,930, 8,629,111… more

Eastern District Of Wisconsin Dismisses Securities Fraud Allegations Based On Accounting Errors For Failure To Sufficiently Plead Scienter

On July 20, 2017, Judge J.P. Stadtmueller of the United States District Court for the Eastern District of Wisconsin dismissed claims brought by shareholders of Kohl’s Corporation (“Kohl’s”) against the company and two of its officers… more

Rx IP Update - July 2017

Supreme Court of Canada strikes down "promise doctrine", upholds AstraZeneca’s NEXIUM patent as useful - As previously reported, on June 30, 2017, the Supreme Court of Canada granted AstraZeneca’s appeal in the NEXIUM (esomeprazole)… more

No duty of care owed by banks to customers in relation to IRHP review

The Court of Appeal has decided that banks do not owe a duty of care to customers in relation to their conduct of the review agreed between the banks and the Financial Conduct Authority (FCA) in relation to past sales of interest rate… more

Second Circuit Overturns Convictions, Dismisses Indictments In LIBOR Case Due To Taint Of Testimony Compelled By Foreign Government

On July 19, 2017, the United States Court of Appeals for the Second Circuit overturned the convictions of Anthony Allen and Anthony Conti, former traders at Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (“Rabobank”) who played… more

WaterFix EIR Certification and NOD Client Alert

On Friday, July 21, 2017, the California Department of Water Resources (“DWR”) certified the Environmental Impact Report for the California WaterFix tunnels project and filed a Notice of Determination with the Governor’s Office of… more

Corporate and Financial Weekly Digest - Volume XII, Issue 28

SEC/CORPORATE - SEC Chairman Clayton Makes First Public Speech Outlining His Vision for the Commission - On July 12, in his first major address since becoming Chairman of the Securities and Exchange Commission earlier this year… more

Massachusetts Supreme Court Finds Medical Marijuana Users Protected from Adverse Employment Action

Beginning when the first states legalized use of marijuana for medical or recreational purposes, employers began speculating whether legislatures and courts in those states would continue to permit employers to exclude persons from… more

Private Equity Watch - July 2017

With the year half over, it’s still too early to say whether it’s going to be a good one or a difficult one for the private equity market. The July edition of Private Equity Watch provides important perspective on the issues and… more

Employment Law Letter - Summer 2017

How often does the Supreme Court of the United States decide a case that specifically affects a Connecticut employee? And how often are its decisions unanimous? Both occurred recently when the high court reviewed a dispute involving a… more

Client Alert: Feds Shine a Light on Medicare Advantage Plans and Physicians Related to Risk Adjustment Practices

Although the sufficiency of medical records documentation supporting beneficiary diagnoses for Medicare Advantage (MA) risk adjustment has been on the OIG’s work plan since 2013, the Department of Justice has upped the ante with a 2016… more

Approved Biosimilar Products Around The world

Please see full chart below for approved biosimilar products around the world… more

CFPB Loses Borders Case: the Court Construes RESPA’s Statutory ABA Exemption according to its Plain Language

On July 12, 2017, a federal district court in Kentucky issued a summary judgment ruling for the defense in the ongoing Borders & Borders case brought by the Consumer Financial Protection Bureau (CFPB or Bureau). In this long-running… more

Parliamentary Procedure Quick Guide: How to Make Motions

Let’s start with an “according to Robert’s Rules” definition. A motion is a proposal that an organization, board, or committee take a specific action (according to Robert’s Rules of Order and other parliamentary procedure… more

Delaware Chancery Court Finds No Fiduciary Duty Breach, Notwithstanding Entire Fairness Review, And Determines Appraisal Value To Be Well Below Deal Price

On July 21, 2017, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery (i) entered judgment in favor of defendants Sprint Nextel Corporation (“Sprint”) and Softbank Corp. (“Softbank”) on claims of breaches of fiduciary… more

News from Abroad -- Lilly v Actavis -- Supreme Court Introduces a Doctrine of Equivalents in the UK

The UK Supreme Court's judgment in Lilly v Actavis has profound implications for the scope of protection provided by patent claims in the UK. Originally published in J A Kemp on July 23, 2017… more

Commercial building efficiency opportunities

A report prepared for the U.S. Department of Energy by the Pacific Northwest National Laboratory found that the nation's commercial building sector has significant potential to save energy by improving control measures and eliminating… more

Texas Supreme Court Says ‘Proportionality Is the Polestar’ in E-Discovery

In re State Farm Lloyds, No. 15-0903, 2017 BL 177212 (Tex. May 26, 2017). In this discovery dispute, the Texas Supreme Court “elucidate[d] the guiding principles” that govern discovery by concluding that its state rules align with… more

California Environmental Law and Policy Update - July 2017 #3

Environmental and Policy Focus - California Legislature extends state's cap-and-trade program in rare bipartisan effort to address climate change - Los Angeles Times - Jul 17 - California lawmakers voted Monday evening to… more

Consultation paper on the Banking Executive Accountability Regime

Further to our alert in May 2017, the Government has now released a Consultation Paper on the Banking Executive Accountability Regime (the Regime). We have summarised the key details of the Regime below..… more

Supreme Court Clarifies Specific Jurisdiction and Ends Forum Shopping Spree

The Supreme Court has put an end to a jurisdictional contrivance used by the plaintiffs’ bar to shop for a friendly state forum, even if neither the plaintiff, nor the defendant, nor the actionable conduct took place in those states… more

Second Circuit Applies Morrison to Rule 23 Predominance Analysis, in In re Petrobras Securities, but Rejects Third Circuit’s “Heightened” Ascertainability Requirement (July 7, 2017)

On July 7, the Second Circuit affirmed in part and vacated in part an order by Judge Rakoff of the S.D.N.Y. certifying two classes in the In re Petrobras Securities litigation, — F.3d –, 2017 WL 2883874 (2d Cir., July 7, 2017). In… more

CFPB Issues Semiannual Report, State-Level Snapshot of Complaints

Two new Consumer Financial Protection Bureau (CFPB) reports provide important insights into the CFPB’s and state regulators’ latest activities and enforcement targets… more

Case Targets Deceptive Trademark Solicitations

Applicants and registrants of trademarks are inundated with offers to perform potentially unnecessary services. These solicitations often come in the form of invoices, with prominent and false “due dates.” Other times, they resemble… more

Singapore: Consultation Exercise on Draft Cybersecurity Bill

The unveiling of the draft cybersecurity bill sheds light on proposed cybersecurity compliance standards and the broad, sweeping powers of Singapore’s Cyber Security Agency… more

Major Companies Call for Second Circuit to Declare Discrimination Based on Sexual Orientation Unlawful under Title VII

On May 25, 2017, the Second Circuit Court of Appeals agreed to rehear the case of Zarda v. Altitude Express, Inc. to determine whether Title VII of the Civil Rights Act of 1964 prohibits discrimination on the basis of sexual… more

CEQA News You Can Use - Vol. 2, Issue 2

Welcome to CEQA News You Can Use, a quarterly publication of Brownstein Hyatt Farber Schreck Natural Resources lawyers. This publication is intended to provide quick, useful bites of CEQA news that we hope can be a resource for your… more

Must A Broker-Dealer Be Licensed As A Personal Property Broker?

Is your California securities broker-dealer a licensed personal property broker? Does it need to have such a license to make loans to its customers? Anyone reading California Corporations Code Section 25217(c) would conclude that it… more

Recent Changes to the Beneficial Ownership Register Regime in the UK

Important reforms designed to increase the transparency of the ownership and control of UK companies and English law LLPs were introduced in the UK on 6 April 2016. Among the most significant of these was a requirement for UK companies… more

Special Edition: Key BCRA Policy Concerns

Congressional action on repeal and replace took a number of significant turns in the past few days, and next steps still remain uncertain. On Monday evening, Senators Mike Lee (R-UT) and Jerry Moran (R-KS) joined Senators Susan Collins… more

Georgia Senate Special Tax Exemption Study Committee Holds First Meeting 

During the 2017 Legislative Session, Senate Resolution 222 created the Senate Special Tax Exemption Study Committee, which was tasked with examining the “costs and benefits” of all exemptions for Georgia sales and use taxes and income… more

In Case You Missed It: Launch Links - July, 2017 #3

Some interesting links we found across the web this week: 4 Lessons US Entrepreneurs Can Learn From Latin American Startup Culture Entrepreneur imports some startup wisdom from south of the border… more

State Legislature and Governor Work Quickly to Overturn Wilkes

On July 20, 2017, Governor Cooper signed into law House Bill 26. The Bill, which passed unanimously in the State Legislature, addressed and reversed portions of the recent Supreme Court decision, Wilkes v. City of Greenville. The Bill… more

Stock Transfer Restrictions Should Be Conspicuously Noted, Delaware Chancery Court Opinion Reminds Issuers

In Henry v. Phixios Holdings, Inc., C.A. No. 12504-VCMR,the Delaware Court of Chancery held that pursuant to Section 202 of the General Corporation Law, in order for a stockholder to be bound by stock transfer restrictions that are not… more

Controversial Rule by CFPB Limits Class Action Waivers in Arbitration Agreements

The Consumer Financial Protection Bureau ("CFPB") has issued a final rule that limits the use of pre-dispute arbitration agreements for many consumer financial products and services ("Rule"). Although the controversial Rule is final… more

USDOL To Propose Modified Tip-Pooling Regulation

Readers will recall our prior posts regarding the U.S. Department of Labor's regulatory position adopted in 2011 saying that an employer may not retain any of an employee's tips even if it..… more

You’ve Got (E-)Mail! Can Your Survivors Access It After Your Death?

E-mail is seemingly omnipresent. Day in and day out, we use it in our business, social, and personal affairs. Yet, the improvements to the technology associated with e-mail have far outpaced the development of the law concerning our… more

Court Finds That Breach Of Fiduciary Duty Claims Is Preempted By Trade Secrets Claim

In Super Starr Int’l, LLC v. Fresh Tex Produce, LLC, a Texas entity that distributes produce throughout the United States filed suit against another Texas entity that imports foreign grown produce into the United States and other… more

How to Catch Trade Secret Thieves Who Try to Cover Their Tracks: A Forensic Perspective

As a special feature of our blog—special guest postings by experts, clients, and other professionals—please enjoy this blog entry from Jonathan Karchmer, a senior managing consultant at iDiscovery Solutions with experience in managing… more

Southern District Of New York Dismisses Securities Fraud Claims For Failure To Plead Reliance And Scienter

On July 10, 2017, Judge John G. Koeltl of the United States District Court for the Southern District of New York dismissed a putative securities fraud class action against E*TRADE Securities LLC (“E*TRADE”), E*TRADE Financial… more

Texas Utility Company Sends in the Drones to Inspect 5-Miles of Power Lines

More and more utility companies are finding drones (or more formally, unmanned aerial vehicles (UAV)) useful, and cost effective, to inspect power lines in lieu of sending up their employees to carry out the dangerous task. This month… more

Commercial Division Considers Creating Large Complex Case List

A specialized list for blockbuster commercial cases in New York’s Commercial Division is under consideration. If designated as a Large Complex Case on the “Large Complex Case List,” the case will be subject to enhanced case management… more

The Supreme Court Indirectly Stiffens A Fiduciary Breach Time Limit And Helps ERISA Fiduciaries In The Process

Seyfarth Synopsis: The Supreme Court appears to have barred equitable tolling under ERISA Section 413’s six-year statute of repose for fiduciary breach claims, subject only to well-pled allegations and proof of fraud or concealment… more

Oregon Expands Pay Equity Protections

Oregon recently enacted the Oregon Equal Pay Act of 2017 (H.B. 2005) (the “Act”). The Act broadly expands Oregon’s existing equal pay protections and imposes new restrictions on Oregon employers’ use of salary histories in recruiting… more

Court of Appeals Reiterates “Modest” Burden for Regulating Adult Uses in People Theatres of N.Y. Inc. v. City of New York

In People Theatres of N.Y. Inc. v. City of New York, 2017 N.Y. Slip Op. 04385, various owners of adult businesses (“Plaintiffs”) brought separate actions against the City of New York (“City”) based upon First Amendment challenges… more

Latest Supreme Court Decision on Travel Ban for Nationals of Iran, Sudan, Libya, Syria, Yemen, and Somalia: Close Relatives are Now Exempt

This is a follow-up to the Supreme Court’s decision on June 26, 2017 which allowed the Trump Administration’s Travel Ban affecting nationals of the six designated Muslim-majority countries to be partially implemented until its hearing… more

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