Latest Updates

Defence & Indemnity - June 2017 : II. LIABILITY ISSUES A. Wardak v. Froom, 2017 ONSC 1166, per Matheson, J. [4227]

II. LIABILITY ISSUES - A. The Ontario Superior Court of Justice refused to grant summary dismissal in a social host liquor liability case where the adult defendants supervised their son’s party, involving underage drinking… more

The New Prospectus Regulation

Changes to Disclosure Requirements for Debt Capital Markets Transactions - On 20 July 2017 after its publication in the Official Journal on 30 June 2017, the new Prospectus Regulation ("PR3") entered into force. PR3 provisions will… more

Delaware Code Amendments Increase Franchise Taxes for Corporations

Delaware Gov. John Carney recently signed into law amendments to the Delaware Code altering certain fees and franchise taxes charged by the Delaware secretary of state. The most significant of these amendments raises the annual… more

Gavel to Gavel: Preventing data breaches

The risk data breaches and cyberattacks pose to small businesses cannot be overstated. Roughly half experienced a breach within the past year at an average cost of $665,000 and immeasurable lost revenue. Worse yet, approximately 60… more

Are You Measuring Your Training Effectiveness … Effectively?

Compliance breakdowns are in the headlines and on every manager’s mind these days. Organizations help manage the risk of becoming the next headline by creating a robust and effective compliance program – and training is a critical part… more

What the *TM*?!?! The Disparagement Clause has been Bleeped.

Trademark law is an important form of protection for the fashion and beauty industry. It protects both brand owners and consumers by regulating the registration of brands, or source identifiers, of fashion and beauty products… more

PTAB Life Sciences Report - July 2017 #3

About the PTAB Life Sciences Report: Each month we will report on developments at the PTAB involving life sciences patents. Pfizer, Inc. v. Biogen, Inc. PTAB Petition: IPR2017-01115; filed March 24, 2017… more

Massachusetts High Court Rules That State Law Does Not Authorize Officials to Honor ICE Detainers

On July 24, 2017, in the case Lunn v. Commonwealth, the Massachusetts Supreme Judicial Court (“SJC”) ruled that state and local officials are not authorized to arrest immigrants based on civil immigration detainers issued by U.S… more

Enforcement of Russian Judgement: OJSC Bank of Moscow v. Chernyakov & Ors [2016 EWHC 2583]

When the notorious Willy Sutton was asked why he robbed banks, he is said to have replied: “because that is where the money is.” In the same way, after obtaining a judgment against a defendant, a successful claimant has to enforce… more

Saudi Arabia's Transformational Privatization Plans

The leadership of Saudi Arabia (the “KSA”) has embarked on a bold transformation strategy to revitalize KSA’s economy and to position it for the demographic and economic challenges that lie ahead. The flagship transaction for the… more

Governance & Securities Law Focus: Asia Edition - July 2017

In this newsletter, we provide a snapshot of the principal Asian, US, European and selected international governance and securities law developments of interest to Asian corporates and financial institutions. Please see full… more

Sustainable Investment Products

Green Bonds and Social Impact Bonds are examples of sustainable investment products. These investments are issued with a particular sustainable purpose in mind… more

France Introduces New Legal Regime for Security Agents in Debt Financings

Syndicated financings with French security will likely adopt the new regime for security agent appointment once it takes effect on 1 October 2017. Key Points... Please see full Alert below for more information… more

United States v. Allen and the Taint of Compelled Testimony in Cross-Border Enforcement Actions

In a decision likely to cause global reverberations in the realm of cross-border enforcement, the US Court of Appeals for the Second Circuit has vacated the convictions and indictment in the first US criminal appeal related to the… more

Sale of Fractional Aircraft Shares Not Taxable Under New York Law

New York’s Department of Taxation and Finance recently released an Advisory Opinion concluding that the sale of fractional aircraft shares are not taxable under state law. New York tax law imposes sales and use tax on retail sales of… more

Cybersecurity: When Social Engineering Fraud is Not Covered Under Your Insurance Policy

We live in an age of escalating cybersecurity threats. Many intrusion threats are social engineering attacks, which seek to gain entry to an organization's computer systems via its personnel and not a hack to the computer systems… more

Issues to "Bee" Determined: Federal Court Dismisses Preliminary Motions

Whether or not the decisions by the Pest Management Regulatory Agency (PMRA) to successively register neonicotinoid products on a conditional basis constitute a "continuous course of conduct", and whether or not the PMRA offers… more

University Business Collaborations Bridging the Gap

Historically, our understanding of University Business Collaborations (UBC) is based on the role of barriers in the development of cooperation. During the June 2017 University Industry Innovation Network (UIIN) annual meeting, various… more

FINRA and the MSRB Issue FAQs on Bond Mark-Up Disclosure

On July 12, 2017, the Financial Industry Regulatory Authority (FINRA) and the Municipal Securities Rulemaking Board (MSRB) published new implementation guidance on the bond mark-up disclosure requirements set to take effect next… more

At A Glance: De-Identification, Anonymization, and Pseudonymization under the GDPR

De-identification of data refers to the process used to prevent personal identifiers—both direct and indirect—from being connected with information. The EU General Data Protection Regulation (“GDPR”), which will replace the Data… more

Connecticut State Department of Education Releases Lists of Due Process Hearing Officer and Mediators and New Process for Mediations

After an extensive interview and hiring process, the Connecticut State Department of Education (“CSDE”), Bureau of Special Education, released last week the list of new mediators and current due process hearing officers. The hiring of… more

No Idle Matter — D.C. Circuit Holds that State’s Attempt to Regulate Locomotive Noise is Preempted by ICA and ICCTA

States and municipalities commonly attempt to curb or eliminate noise generated by locomotives and rail cars as they pass through their jurisdictions. A recent attempt by the state of Delaware to shut down idling locomotives was… more

Wisconsin Appellate Court Holds Management Policy Does Not Negate At-Will Employment Relationship

At-will employment is the default rule in Wisconsin. Employers may terminate for any reason or no reason at all. However, that relationship can be overridden by contract, in some cases inadvertently, through employee policies and… more

Recent Case Highlights Considerations for Working with Media Consultants During a Crisis

A Pennsylvania Superior Court decision declining to extend attorney-client privilege to media consultants illustrates best practices for how a company should manage communications with outside consultants during a crisis scenario… more

Allocation Governed by “All Sums” Where Policy Contains “Prior Insurance” or “Non-Cumulation” Clause

On July 18, 2017, the U.S. Court of Appeals for the Second Circuit adopted the New York Court of Appeals’ previous holding that the “all sums” provision in the insuring agreement permits an insured to access the limits of all policies… more

Mandatory Arbitration of Securities Disclosure Disputes Is a Bad Idea—For Defendants

SEC Commissioner Michael Piwowar recently said that the SEC is open to allowing companies that are going public to provide for mandatory shareholder arbitration in their corporate charters. Piwowar’s remarks have prompted a firestorm… more

Trump’s Cuba Policy Could Impact U.S. Agriculture and Other Exports

For American farmers and businesses hoping a pro-business administration would foster increased access to the burgeoning Cuban market, the new trade restrictions announced on June 16 may be a disappointment… more

[Video]How to Make It Easy for Clients to Engage With Your Writing Right Away - Content Quick Tip

We're all writing for an online audience - but we don't all write anticipating the behavior of online readers. Here's Adrian Lurssen's latest 60-second video tip on how to present your writing to engage readers right away and make… more

US Supreme Court Denies Motion to Clarify Scope of Prior ‘Travel Ban’ Decision

The Court’s decision leaves in place the relevant parts of a July 13 decision by a federal district judge in Hawaii finding the administration’s interpretation of “bona fide relationship with a person or entity in the United States” to… more

Proposed Rule Would Slash Medicare Payment for 340B Drugs

The Centers for Medicare and Medicaid Services (CMS) has proposed reducing the Medicare payment rate to hospitals for most separately payable drugs purchased under the 340B program from average sales price (ASP) plus six percent to ASP… more

Key Consideration for In-House Counsel: Reviewing Domestic Law Against International Human Rights Standards

In reviewing your current operating locations, do you know the extent to which domestic law is protective of human rights? Is there a disconnect between your company’s stated commitment to respect human rights and the due diligence… more

Defendant Not Sanctioned Despite Use of Evidence Wiping Software: eDiscovery Case Week

In HCC Ins. Holdings, Inc. v. Flowers, No. 1:15-cv-3262-WSD (N.D. Ga., Jan. 30, 2017), Georgia District Judge William S. Duffey, Jr. denied the plaintiff’s motion for adverse inference sanctions despite evidence that the defendant had… more

As If Leave Laws Aren’t Complicated Enough – Don’t Forget That Leave Can Be a Reasonable Accommodation

The myriad of leave laws and requirements often make employee leave requests an area of confusion, concern and risk for employers. If an employee has a medical condition and must take leave from their job, there may be several laws… more

Third Circuit Rejects Unsecured Oil Producers’ Claims of Automatic Perfection

On July 19, 2017, the U.S. Court of Appeals for the Third Circuit (the “Court”) issued an opinion, upholding a district court’s ruling that downstream purchasers took oil purchased from a bankrupt intermediary, SemGroup L.P… more

Trademark Investigations In The Age Of Social Media: When Can You “Friend” An Adversary?

I have often called my friend and colleague, Dave Kluft, the master of opposition research. When we have a trademark case together, he can be counted upon to think deeply about our adversaries, see the world through their eyes, and… more

Trump Department of Justice Reverses Course on Class Action Waivers

On June 16, 2017, the United States Department of Justice (DOJ) changed its position with respect to the enforceability of class action waivers in the labor and employment context. The move came via the DOJ’s filing of an amicus curiae… more

Employers Should Be Aware of Pitfalls When Entering into Severance Agreements

Severance agreements in the workplace have evolved considerably during the last twenty-five years. The idea of severance being paid to an employee only where a company has an established severance plan is no longer a reality. Employers… more

Federal Banking Agencies Announce No-action Position on Certain Foreign Excluded Funds Under the Volcker Rule

Section 13 of the Bank Holding Company Act of 1956, as amended, and its implementing regulations (the “Volcker Rule”) generally prohibit a “banking entity” from engaging in proprietary trading and from investing in, sponsoring, or… more

September 18 Deadline Set By U.S. Citizenship and Immigration Services for Employers to Use Revised Form I-9

Currently, every employer that recruits, hires, or refers employees for a fee in the U.S. is required to complete the Form I-9, Employment Eligibility Verification process within three days of a new employee’s hiring.  On July 17 the… more

California Flips the Focus from Facility Emission Limits to Community Impact Monitoring and Mitigation

On Monday, July 17, 2017, the California legislature passed a two-bill package, Assembly Bill (AB) 398, which extends California’s Cap-and-Trade Program to 2030, and AB 617, the companion bill that didn’t get as much attention as AB… more

Uncertainty Looms with Delays to Resolution of California’s Low Carbon Fuel Standard Program Challenges

Two recent developments in the interrelated legal challenges commonly known as POET I and POET II may create additional uncertainty for the future of the Low Carbon Fuel Standard Program (LCFS). Earlier this year, the California… more

Recent Updates to Connecticut Statutory Landlord/Tenant Law

This past legislative session of the Connecticut General Assembly saw assorted legislation that collectively seeks to further regulate the conduct of landlords, who already must navigate an often cumbersome and confusing array of laws… more

Good Faith Belief in Employee’s Wrongdoing Serves as Defense Against Retaliation Claim

A recent Fourth Circuit Court of Appeals ruling may offer employers in North and South Carolina another defense against an employee’s retaliation claim: No liability for adverse action against an employee based on the employer’s… more

Client Alert: Eleventh Circuit Declines to Reconsider Sexual Orientation Discrimination Decision; Plaintiff Will Appeal to U.S. Supreme Court

In April, we reported that a three-judge panel of the Eleventh Circuit held that sexual orientation discrimination is not prohibited under Title VII of the Civil Rights Act of 1964 in Evans v. Georgia Regional Hospital, et. al., 2017… more

Stressing Value is a better proposition than stressing cost

Retirement plan providers need to look at their fees and determine what work they are doing for their retirement plan clients because like me, they may try to break down their plan expenses into a day rate and try to figure out what… more

PhRMA Comment on the FDA’s Proposed Off-label Rule: The Rule of Law is the Best Medicine

The FDA cannot get out of its own way on the issue of off-label communications. Its power to punish off-label promotion comes from an odd regulatory two-step, whereby off-label promotions are said to prove an indicated use not included… more

AFRICA - A Legal Guide for Business Investment and Expansion: Angola

1. What role does the government of Angola play in approving and regulating foreign direct investment? Foreign direct investment is a highly-regulated sector in Angola. In August 2015, the Angolan Government enacted Law 14/15, of… more

Dechert's Global Private Equity Newsletter - Summer 2017 Edition: How Might Brexit Affect the Exit?

The UK referendum on membership of the EU took place just over one year ago (on June 23, 2016). Since then, much has been written by various commentators about the potential consequences for every conceivable industry or business… more

Employment Law Navigator – Week in Review: July 2017 #4

Last week, HR Dive reported on a Washington federal court’s June order requiring that a public employer pay $1.8 million to a terminated employee. The worker was fired when she failed a drug test due to her lawful use of prescription… more

U.S. Penalizes Exxon for Violating U.S. Sanctions on Russia, May Have Complicated How U.S. Companies Do Business in Russia

On July 20, 2017, the U.S. Treasury Department Office of Foreign Assets Control (OFAC) announced that ExxonMobil (Exxon) must pay a $2 million penalty for violating U.S. sanctions on Russia.  On the same day, Exxon responded by suing… more

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