General Business Constitutional Law Elections & Politics

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Judge Berman Deflates SEC’s ALJ Appointment Process

United States District Court Judge Richard M. Berman of the Southern District of New York has been making headlines in recent weeks as he presides over the highly publicized case between the National Football League (“NFL”)...more

Gov. Christie’s Cuts in N.J.’s Mandatory Public Pension Funding Found to be Legal

A recent study estimated that state public pension plans are underfunded by $4.7 trillion (yes, that’s a “T”). Ten states have plans in which less than 30-percent of benefit obligations are funded, and only three states have...more

N.J. Supreme Court Finds Chapter 78 Did Not Create an Enforceable Contract Right

In Burgos v. State of New Jersey, the New Jersey Supreme Court held that the 2011 pension and health benefit reform statute, known as Chapter 78, did not create an enforceable contract that was binding on the State to make...more

California Tax Developments - A Reed Smith Quarterly Update (1st Quarter 2015)

Regulatory Updates - GO-Biz Rolls Out First Awards of 2015 For fiscal year 2015, the Governor’s Office of Business and Economic Development (“GO-Biz”) is authorized to award $151.1 million in California Competes Tax...more

Will Alabama Honor Your Choice of Law Provisions?

Amendment 884 calls into question the validity and enforceability of the choice of law provisions in contracts brought before Alabama courts. In November of 2014, Alabama voters ratified Amendment 884 to the Alabama...more

Trade & Manufacturing Alert - April 2015

In This Issue: - Made in America: U.S. Manufacturing and the President's 2015 Trade Policy Agenda - Congressional Action Allowing Commerce to Retroactively Apply the Subsidy Law to Exports From China Survives a...more

Contribution Caution: Mitigating Risks From Pay-To-Play

With the record-breaking campaign expenditures of the 2014 midterm elections behind us, and the 2016 campaign cycle already heating up, this is an ideal moment for investment advisers (including advisers to venture capital...more

Court of Appeal Strikes Down 2011 S.F. Charter Requirement that SFERS Be "Fully Funded" Before Vested Supplemental COLAs May be...

In a March 27, 2015 opinion, the First District Court of Appeal unanimously declared a voter-approved amendment to the Charter of the City and County of San Francisco (City) to be unconstitutional as applied to current City...more

Delaware Legislature Introduces Rapid Arbitration Act

The Delaware Rapid Arbitration Act, House Bill 49, was recently introduced in the Delaware General Assembly. The proposed Act would establish a streamlined arbitration procedure to resolve disputes involving Delaware business...more

Pensions at the Constitutional Convention, Part III: The Opponents and the Vote

We conclude our discussion of the July 21, 1970 debate on the Pension Protection Clause at the Illinois Constitutional Convention. Today, we’ll take a look at more statements by opponents of the measure, the summations by...more

Delaware Legislature to Resume Debate in January on Bylaws Imposing Liability on Shareholders

The ability of corporations to impose liability on shareholders through bylaws and charter provisions has been the subject of much debate recently. On May 8, 2014, the Supreme Court of Delaware held in ATP Tour, Inc. v....more

How Will Michigan Courts Analyze a Legal Challenge to the Michigan Legislature’s Retroactive Repeal of the Multistate Tax Compact?

In recent days, the state tax world has focused on the State of Michigan’s retroactive repeal of the Multistate Tax Compact (Compact). Last week, the Michigan Legislature passed and Governor Snyder signed into law a bill...more

Strategies for Success at the 2015 Legislative Session — How Your Business can get Its Voice Heard

The 78th Session of the Nevada Legislature will convene on February 2, 2015, for 120 days. As a true biennial state, the Nevada Legislature convenes every other year. In 1998 the voters approved a constitutional amendment...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update: August 2014

This is a brief update on recent Pennsylvania tax developments. FY15 Budget Enacted—Includes Little Tax Reform Earlier this summer, Governor Corbett signed into law the fiscal year July 1, 2014 through June 30, 2015...more

Permanent Injunction of Pennsylvania’s Prohibition against Establishment of Political Committees to Receive Contributions of...

On August 13, 2014, an order was issued by the U.S. District Court for the Middle District of Pennsylvania in the matter of General Majority PAC v. Carol Aichele permanently enjoining implementation and enforcement of...more

Republican State Parties Challenge SEC’s Pay-to-Play Rule

On August 7, 2014, the New York Republican State Committee and Tennessee Republican Party (the “Plaintiffs”) filed a civil suit against the Securities and Exchange Commission (the “SEC”) seeking to overturn Rule 206(4)-5...more

"State Parties File Legal Challenge Against SEC Rule 206(4)-5"

On August 7, 2014, the New York and Tennessee state Republican parties brought suit against the Securities and Exchange Commission (the SEC), challenging Rule 206(4)-5 (the rule). Specifically, the complaint seeks an...more

Supreme Court Blocks Citizens United Advisory Proposition From Ballot

I’ve previously reported on SB 1272 which was rushed through the legislature and allowed to become “law” without Governor Brown’s signature. The bill, authored by Senator Ted Lieu, calls for an advisory vote on whether the...more

Indonesia’s Presidential Elections Dispute and Idul Fitri 2014 – Are You and Your Company Prepared?

On July 9, within just a few hours of the polls closing in the tightly contested presidential election in the world’s third-largest democracy – the Republic of Indonesia – the only two contestants running had claimed victory....more

Health Care Update - June 2014 #4

In This Issue: - Hobby Lobby decision further complicates ACA implementation - Implementation of the Affordable Care Act - Other Federal Regulatory Initiatives - Other Congressional and State...more

Court Ruling Puts Massachusetts Casinos At Risk

Yesterday, the Massachusetts Supreme Judicial Court in Abdow v. Attorney General rejected challenges to a ballot initiative seeking the effective repeal of Massachusetts’s 2011 gaming law, directing the measure to be included...more

Update!—New TN Law Concerning Patent Infringement Allegations

In recent years, state legislatures have attempted to pass legislation regarding patent law – an area that the U.S. Constitution states is exclusively governed by federal law. The stated goal behind many of these laws is to...more

U.S. House Committee Holds Hearing on Abusive Patent Demand Letters

On April 8, 2014, the U.S. House Committee on Energy & Commerce, Subcommittee on Commerce, Manufacturing, and Trade held a hearing “Trolling for a Solution: Ending Abusive Patent Demand Letters.” The purpose of the hearing...more

Federal Judge Strikes Down Minnesota Energy Law

A federal judge, in a ruling issued today, struck down a portion of Minnesota’s Next Generation Energy Act (NGEA) because it violates the Commerce Clause of the U.S. Constitution by attempting to regulate the generation of...more

"Recent Developments in Aggregate State Contribution Limits After Supreme Court’s Decision in McCutcheon v. FEC"

On April 2, 2014, the U.S. Supreme Court issued its decision in McCutcheon v. FEC, striking down the aggregate limits imposed on individual contributions under federal law. Although this decision cannot necessarily be read to...more

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