Latest Updates

Wyoming Mid-Sized Advisers Can No Longer Register with the SEC

Wyoming required investment advisers to register with the state for the first time on July 1, 2017. Wyoming’s decision primarily affects those Wyoming-based advisers with between $25 million and $100 million in assets under management… more

Antitrust Alert: Federal Court Rejects Failing Firm Defense in Merger Case

A new decision from a federal court in Delaware reinforces the high burden that parties face in insulating an otherwise anticompetitive merger based on the so-called "failing firm" defense. The Justice Department ("DOJ") sought an… more

OTA & Travel Distribution Update - July 14th, 2017

A number of updated and new stories in this week’s OTA & Travel Distribution Update for the week ending July 14, 2017. We hope you enjoy. Expedia’s MeetingMarket Now Speaks English [OTA/GROUP] ("Expedia extends MeetingMarket… more

House Committees Examine Health Care Policy Issues

Recent House of Representatives committee hearings have focused on a variety of health care policy issues, including the following: Energy and Commerce Committee hearings on: the growth and oversight of the 340B drug discount… more

SCOTUS Update: Environmental and Administrative Law Cases Decided in 2017

The 2016 Term of the U.S. Supreme Court was fairly quiet, perhaps reflecting the fact that with only eight members, the Court needed a working consensus to handle its docket. The Court handed down seventy rulings, but only a few can be… more

U.S. House Committee on Appropriations Votes to Defund Revised Form EEO-1 Requiring Disclosure of Pay Data

On July 13, 2017, the House Committee on Appropriations signaled what could be a devastating blow to the future of the Equal Employment Opportunity Commission’s (“EEOC”) revised Form EEO-1. As you may recall, in February 2016, the… more

Court Holds Crime Policy Covers Business Compromise Email Loss

The “business compromise email” is what the FBI calls the “$5 billion scam,” but apparently an insurance company did not agree with an insured company that they had been the victim of a crime… more

[Video]12 O'clock High, a Podcast on Business Leadership- Leadership Lessons from Toussaint Louverture

In this episode, Richard Lummis and I explore leadership lessons from Toussaint Louverture, who held the only successful slave revolt in the Western Hemisphere. Our remarks are based on the recent biography of him entitled, Toussaint… more

An Ounce Of Data Breach Prevention…Address Attorney-Client Privilege In Your Breach Planning

Data breach “horror” stories have become a new staple in today’s business environment. The frequency of attacks which threaten (or compromise) the security of business networks and information systems continually increases — in the… more

Pennsylvania Mechanics’ Lien Law And The Construction Notices Directory- Avoiding Potential Pitfalls

On October 14, 2014, the Pennsylvania General Assembly signed Act 142 creating the Pennsylvania State Construction Notices Directory, which became effective January 1, 2017 (the “Act”). The Act created an online directory whereby… more

FCPA under the New Administration

The single most frequently asked question by our international clients over the past several months is whether there will be changes in white collar prosecution priorities under the new administration, specifically with respect to the… more

A Review of Recent Whistleblower Developments

Whistleblower Developments is a periodic report covering significant cases, decisions, proposals, and legislation related to whistleblower statutes and how they may impact your business… more

Let Them Eat Cake!

The competing interests of an individual’s First Amendment right to religious freedom and an individual’s right to be free from discrimination will be addressed by the Supreme Court of the United States (“SCOTUS”) in the fall. A couple… more

State Attorneys General Eye Higher Political Office

Recently West Virginia State Attorney General (“AG”) Patrick Morrisey announced that he is seeking the Republican nomination for incumbent U.S. Senator Joe Manchin’s seat in 2018, and Maine AG Janet Mills announced that she is seeking… more

Colorable Difference Test Not Applicable to CDO Sanctions

A recent ITC enforcement decision highlights the importance of redesigns as an effective strategy for Respondents at the ITC… more

Cause for Concern Over Organic Fertilizer Made from Food Waste?

In December 2016, the National Organic Program (NOP) issued guidance 5034-1 that can be interpreted as approving of food waste for use in organic crop production (for example, as an input in fertilizer) without regard to whether such… more

Article 29 Working Party Releases Detailed Opinion on Data Processing in the Workplace

The Article 29 Working Party (“WP29”) recently published an opinion on data processing at work (“Opinion”). The Opinion restates the position and conclusions in WP29’s 2001 Opinion on processing personal data in the employment… more

Texas Court of Appeals Confirms Power Generation Plants’ Eligibility for TCEQ Administered Tax Exemption

On July 11, the Texas Court of Appeals, Third District, at Austin, TX, decided the case of Freestone Power Generation, LLC, v. Texas Commission on Environmental Quality, et al., reversing the trial court’s ruling that eight Texas power… more

New York Appeals Court Rejects Enforceability Of Class Action Waivers – But Is This Ruling Short-Lived?

In an issue of first impression in the state of New York, last week the New York Supreme Court, Appellate Division (the state’s intermediate appellate court) weighed in on the enforceability of arbitration provisions that preclude… more

DOJ’s Prosecution Of Health Care Exec Illustrates Unique Intersection Of Securities & Employment Tax Fraud Schemes

In a recent criminal prosecution of a medical doctor/entrepreneur for defrauding his company’s shareholders, the government employed a novel theory of securities fraud premised, in part, upon the defendant’s failure to pay federal… more

At the Intersection of Cybersecurity and White Collar

The global "ransomware" cyberattack in early May 2017 resulted in tens of thousands of computer systems being taken hostage by hackers and, in the instances involving hospitals, put lives at risk. Companies that suffered breaches are… more

San Francisco Adopts The “Parity In Pay” Ordinance – No More Inquiries About Or Disclosures Of Prior Salary

On July 19, 2017 Mayor Lee signed the Parity in Pay Ordinance. Below is a brief summary of the Ordinance which will go into effect on July 1, 2018. The Ordinance provides findings from the 2015 United States Census Bureau report… more

RICO Madness: The Nuisance of Owning and Operating a Marijuana Facility

On June 7, 2017, the Tenth Circuit Court of Appeals issued its opinion in Safe Streets Alliance, et al. v. Hickenlooper, et al., (No. 16-1048), an opinion that could open the doors to property use litigation involving marijuana… more

STRONGER Patents Act of 2017 Disadvantages Domestic Manufacturers

In late June, Senators Coons, Cotton, Durbin, and Hirono introduced the STRONGER Patents Act of 2017. The Act includes provisions that seek to heavily change the inter partes review and post-grant review processes. However, Sec. 108… more

Privacy Perils: What's in Your Container?

The use of "containers" in web application development is growing, but not without potentially increasing threats to the security of the data we store in our apps and devices. Containers are stand-alone packages of software that… more

OIG Claims CMS Paid $729 Million in Erroneous EHR Incentive Payments

In a June 12, 2017 report entitled, Medicare Paid Hundreds of Millions in Electronic Health Record Incentive Payments That Did Not Comply With Federal Requirements, the Department of Health and Human Services, Office of Inspector… more

Dechert's Global Private Equity Newsletter - Summer 2017 Edition: President Macron’s Election in France: Impact on the French PE and M&A Market

President Macron announced his will to conduct meaningful reforms which could have a significant positive impact on the economy and the French M&A market… more

New York Paid Family Leave Law Regulations Become Effective

Regulations implementing the Paid Family Leave Act became effective on Wednesday, July 19, 2017. No substantive changes were made to the proposed regulations that were published back in May 2017… more

Senate Introduces Pathway to Citizenship for Dreamers, Potentially Altering a Generation

This week, the United States Senate introduced the Dream Act of 2017, a bipartisan bill, sponsored by Democrat Dick Durbin of Illinois and Republican Lindsay Graham of South Carolina, to create a pathway to citizenship for young people… more

Trump Administration Policy Statement Calls for FDA Premarketing Activities to be Funded Entirely by Industry Fees

The Trump White House released a Statement of Administration Policy on Wednesday in response to the House of Representatives’ passage of H.R. 2430, a bill that would reauthorize the use of four FDA user fee programs: the Prescription… more

Missing Participants – Out of Sight Out of Mind?

Imagine it’s March 31 and you are a retirement plan administrator. You have a participant who terminated employment 15 years ago. He turned 70½ last year and now you owe him his first required minimum distribution from the Plan on… more

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

Readers' Choice 2017
Reporters on Deadline
Contributor Spotlight

Mike Bishop JD explores large emerging business opportunities that arise from evolving legal developments, structures or legislation. Areas of focus include: * comparative law and choice of…

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