Author Info for Locke Lord LLP

Marc Abrahams

Brexit: What You Need To Know - Insolvency / Restructuring

Some important areas of the UK insolvency law regime are impacted by the harmonisation and applicability of EU treaties, regulations, directives and court decisions: both directly (e.g., recognition of cross-border proceedings,…more

Corporate Counsel, EU, Insolvency, Member State, Referendums

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David Abramowitz

FDA Issues Updates as MoCRA ‎Deadlines Approach

As the December 29, 2023 deadline for certain aspects of the Modernization of Cosmetics Regulation Act (“MoCRA”) approaches, FDA has finalized its guidance document governing the registration of cosmetic manufacturing facilities…more

Cosmetics, Food and Drug Administration (FDA), Manufacturers, Modernization of Cosmetics Regulation Act of 2022 (MoCRA), Product Labels

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Mark-David Adams

The Effective Date of the New Issue Price Regulations is Near

On December 9, 2016, the United States Treasury Department published regulations (the “Issue Price Regulations”) setting forth new rules for the determination of the issue price of a tax-exempt bond issue. The Issue Price…more

Bond Issuers, Bonds, Offering Price, Private Placements, Tax-Exempt Bonds

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John Arnold

CISA’s Proposed Cyber Incident Reporting Rules Under CIRCIA

On April 4, 2024, the United States Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (“CISA”) released for public comment its long-awaited proposed rules to implement the Cyber Incident…more

Critical Infrastructure Sectors, Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA), Cybersecurity, Data Security, Homeland Security Cybersecurity & Infrastructure Security Agency (CISA)

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Theodore Augustinos

Data Minimization Under the CCPA

The California Consumer Privacy Act of 2018 as initially adopted (or subsequently amended until 2020) did not contain the principle of data minimization. A requirement to minimize data collection was, however, added by the…more

California Consumer Privacy Act (CCPA), Cybersecurity, Data Privacy, Data Protection, Health Insurance Portability and Accountability Act (HIPAA)

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Reem Ayad

UK Enacts Sanctions Legislation for the ‎Protection of ‎Uyghur ‎Muslim Community in Xinjiang Province, ‎People’s ‎Republic of ‎China (“PRC”)‎

On 22 March 2021, UK foreign secretary, Dominic Raab, speaking in respect of the human rights situation in Xinjiang, PRC, stated that is was ‘the largest mass detention of an ethnic and religious group since the second world…more

China, Economic Sanctions, Forced Labor, Human Rights, Popular

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Mark Backofen

The Madrid Protocol - August 2022

The United States is a party to the Madrid Protocol, an international treaty simplifying and centralizing the process for registering trademarks on an international basis. This treaty allows owners of U.S. trademark…more

Intellectual Property Protection, International Trademark Protection, Madrid Protocol, Trademark Application, Trademark Registration

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Charles Baker

Federal Circuit Clarifies Liability of ‎Foreign Revenue for U.S. Domestic Patent ‎Infringement

In a ruling with significant implications for both plaintiffs and defendants in patent infringement disputes, the Federal Circuit recently clarified the law on using foreign revenue as a damages base for U.S. patent…more

Damages, Intellectual Property Protection, Patent Infringement, Patent Litigation, Patents

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Hugh Balsam

HUD Face-to-Face Meeting Requirement: Fourth Circuit Holds That a Bank Office That Conducts No Mortgage-related Business Does Not Qualify as a “Branch Office” of a “Mortgagee”

On April 20, 2020, the United States Court of Appeals for the Fourth Circuit became the first Circuit Court of Appeal in the United States to hold that a mortgage lender must have a “branch office” that conducts at least some…more

Coronavirus/COVID-19, Foreclosure, HUD, Mortgages

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Raj Bandla

Public Facility Corporation Compliance ‎Monitoring: Texas Department of Housing and ‎Community ‎Affairs Proposes Rules

Texas House Bill 2071 (the “Bill”), which took effect on June 18, 2023 to modify Chapter 303 of the Texas Local Government Code (the “Code”) with respect to the ownership of a multifamily residential development (a…more

Housing Developers, Proposed Rules, Public Comment, Real Estate Development, Texas

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William Barnard

M&A Broker Exemption Update‎

We are updating our March 6, 2023 QuickStudy that discussed the new statutory exemption under section 15(b)(13) of the Securities Exchange Act of 1934 from broker registration that allows unregistered M&A advisers to provide M&A…more

Broker-Dealer, EBITDA, Exemptions, Registration Requirement, Securities Exchange Act

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Peter Barrett

Insurance Considerations Arising From Spinoff Transactions

Since January 1, 2019 there have been approximately 20 spinoff transactions announced. And to date there have been a number of instances of litigation arising out of spinoffs, some of which have insurance-related issues in…more

Board of Directors, Breach of Duty, Fiduciary Duty, Parent Corporation, Spinoffs

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Daniel Barry

State Insurance Regulators Wrapping up Preliminary Guidance on ‎Accelerated Underwriting

Last week, both the New York Department of Financial Services (“DFS”) and the National Association of Insurance Commissioners (“NAIC”) acted on official guidance pertaining to accelerated underwriting by life insurance…more

Artificial Intelligence, Insurance Industry, NAIC, NYDFS

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Janet Barsky

Proliferating Pay Protection Laws Favoring Independent Contractors Create Perils for ‎Businesses

Companies using independent contractors have been worried that class action lawyers or a workforce agency will challenge their classification of workers as independent contractors. For the past dozen years, we have advised…more

Employer Liability Issues, Independent Contractors, Misclassification, Wage and Hour

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Christopher Barth

Illinois Legislature Considering Legislation Recognizing Legality of Smart Contracts

The Illinois state legislature is considering a bill which would put the state among the select few specifically granting legal recognition to blockchain “smart contracts” by placing smart contracts on an equal footing with…more

Blockchain, Digital Currency, Smart Contracts, State and Local Government, State Legislatures

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Lori Basilico

New IRS Guidance: Emergency Personal Expense and Domestic Abuse Victim ‎Distributions Under SECURE 2.0

On June 20, 2024, the Internal Revenue Service (“IRS”) released Notice 2024-55 (the “Notice”) offering guidance on two (2) new types of distributions exempt from the 10% early withdrawal penalty: emergency personal expense…more

Employee Benefits, IRS, Retirement, Retirement Plan, SECURE Act

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Cynthia Bast

Public Facility Corporation Compliance ‎Monitoring: Texas Department of Housing and ‎Community ‎Affairs Proposes Rules

Texas House Bill 2071 (the “Bill”), which took effect on June 18, 2023 to modify Chapter 303 of the Texas Local Government Code (the “Code”) with respect to the ownership of a multifamily residential development (a…more

Housing Developers, Proposed Rules, Public Comment, Real Estate Development, Texas

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Rachael Beavers

If at First You Succeed, Try Try Again: BOEM Wastes No Time Queuing up Another Central Atlantic Lease Sale

Fast on the heels of a small but successful sale of two leases off Delaware and Virginia, the Bureau of Ocean Energy Management (BOEM) has issued a Call for Information (“Call”) to kick off another round of leasing in the…more

BOEM, Clean Energy, Energy Sector, Offshore Wind, Renewable Energy

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Barry Bendes

FINCEN Adopts New Rule on Cash Sales ‎of Residential Real Estate

On August 29, 2024, the Financial Crimes Enforcement Network (“FinCEN”) published a final rule (the “Rule”) requiring reports by “reporting persons” concerning real estate transfers to a legal entity or trust of certain…more

Bank Secrecy Act, Beneficial Owner, Corporate Transparency Act, FinCEN, Reporting Requirements

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Emma Bennett

HIPAA Data Management Requirements for Electronic Protected Health Information

While all companies must take measures to safeguard the privacy and integrity of their electronic data, covered entities and their business associates subject to the Health Insurance Portability and Accountability Act of 1996,…more

Data Management, Data Privacy, Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

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Michael Bennett

Mitigating Ransomware Liability

The recent malware attack on Hollywood Presbyterian Medical Center is an example of the latest trend in security concerns, called “ransomware.” Hollywood Presbyterian’s networks were infiltrated by malware that encrypted key…more

Bitcoin, Cyber Attacks, Hospitals, Malware, Ransomware

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Jon Biasetti

CMS Issues Final Quota Share Reinsurance Rule

As we reported in our QuickStudy on February 13, 2020, CMS filed and made available for public inspection on February 5, 2020, a new proposed rule (the “Proposed Reinsurance Rule”) under the authority of Section 1855(b)(1) of…more

Centers for Medicare & Medicaid Services (CMS), Medicare Advantage, Medicare Advantage Organizations (MAOs), Proposed Rules, Reinsurance

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Lani Blake

DOJ Weighs in on Transgender Employment Rights: Gender Dysphoria Can Be Covered by the ADA

On January 8, 2024, the United States Department of Justice filed a statement of interest, explaining that gender dysphoria can be a covered disability under the Americans with Disabilities Act (“ADA”). The DOJ’s statement…more

Americans with Disabilities Act (ADA), Department of Justice (DOJ), Employee Rights, Employment Discrimination, Transgender

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Wasim Bleibel

FTC Takes Action Against Social ‎Media Posts for Failure to Disclose Material ‎Connections

On November 15, 2023, the FTC announced that it had issued fourteen Warning Letters ‎to the two trade associations, the American Beverage Association (AmeriBev) and the Canadian ‎Sugar Institute (“the Associations”), as well as…more

Disclosure Requirements, Endorsements, Failure To Disclose, Federal Trade Commission (FTC), FTC Endorsement Guidelines

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Carolyn Blessing

FDA Issues Updates as MoCRA ‎Deadlines Approach

As the December 29, 2023 deadline for certain aspects of the Modernization of Cosmetics Regulation Act (“MoCRA”) approaches, FDA has finalized its guidance document governing the registration of cosmetic manufacturing facilities…more

Cosmetics, Food and Drug Administration (FDA), Manufacturers, Modernization of Cosmetics Regulation Act of 2022 (MoCRA), Product Labels

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Sharon Blinkoff

New FTC Rule on Use of Consumer Reviews and Testimonials

On August 14, the Federal Trade Commission (the “FTC”), acting unanimously pursuant to its authority under Section 5 of the Federal Trade Commission Act, announced the adoption of a final Trade Regulation Rule on the Use of…more

Advertising, Fake Reviews, Federal Trade Commission (FTC), FTC Act, Section 5

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Bryan Boccelli

New York City’s Proposed “City of Yes ‎for Carbon Neutrality” ‎Zoning Initiative Offers ‎Potential ‎Renewable Energy Boom to ‎Developers

New York City Mayor Eric Adams recently officially unveiled a wide-ranging zoning initiative ‎proposal that, if passed by the City Council this October, will not only provide broad-ranging ‎new economic opportunities for…more

Investment Tax Credits, Production Tax Credit, Renewable Energy, Solar Energy, Zoning Laws

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Tom Bohac

FUNDamentals: Fifth Circuit Vacates New SEC Private Fund Adviser Rules

On June 5th, 2024, the United States Court of Appeals for the Fifth Circuit (the “Court”) vacated the U.S. Securities and Exchange Commission’s (“SEC’s”) private fund advisers rules (the "Rules"), which would have imposed…more

Investment Adviser, Investment Advisers Act of 1940, Private Funds, Securities and Exchange Commission (SEC), Vacated

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Jeffrey Bohn

Connecticut Enacts New Changes to Its Captive Insurance Laws

On July 16, 2024, the Connecticut Department of Insurance (the “Department”) issued a press release announcing that Governor Ned Lamont has signed Public Act No. 24-138, “An Act Concerning Insurance Market Conduct and Insurance…more

Captive Insurance Company, Department of Insurance, Insurance Industry, State and Local Government

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Leah Brackensick

The FTC Strikes Again – Challenging the Listing of 300+ Patents in FDA’s Orange Book

On April 30, 2024, the FTC issued a press release and warning letters to ten pharmaceutical companies notifying them that the FTC had “availed [themselves] of the FDA’s regulatory process and submitted patent listing dispute…more

Federal Trade Commission (FTC), Food and Drug Administration (FDA), Orange Book, Patents, Pharmaceutical Industry

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Heidi Brady

New Medicaid/CHIP Managed Care Rule Reins in MLR Reporting

In late April, the Centers for Medicare & Medicaid Services (CMS) issued the final Managed Care Rule, which codifies revisions intended to “improve access to care, accountability and transparency for the approximately 80 million…more

Centers for Medicare & Medicaid Services (CMS), Children's Health Insurance Program (CHIP), Health Care Providers, Medicaid

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Andrew Braunstein

Supreme Court Resolves Circuit Split ‎and Decides CFPB's Funding Structure Is Constitutional

On May 16, 2024, the U.S. Supreme Court resolved the Circuit Split discussed in our prior QuickStudy and ruled in a 7-2 decision that the Consumer Financial Protection Bureau’s (“CFPB”) funding structure does not violate the…more

Constitutional Challenges, Consumer Financial Protection Bureau (CFPB), Consumer Financial Protection Bureau v Community Financial Services Association of America Ltd, Federal Funding, Financial Services Industry

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Shawn Brenhouse

New York State Senate Extends ‎Foreclosure and Eviction Moratorium from August 31, ‎‎2021 ‎until January 15, 2022‎

In one of her first acts as Governor of New York, newly appointed Governor Kathy Hochul ‎called for a “Special” legislative session on September 1, 2021, to extend the moratorium on ‎foreclosure and eviction actions provided in…more

Coronavirus/COVID-19, Eviction, Foreclosure, Infectious Diseases, Landlords

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Steven Brotman

The End of the Road for Chevron

In a 6-3 decision issued June 28, 2024, the U.S. Supreme Court overruled Chevron USA, Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984), which long stood for the proposition that courts are to defer to an…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Loper Bright Enterprises v Raimondo

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Crystal Brown

87th Legislature Preparation Guide: Lobbying in Texas under the Cloud of COVID-19

The Texas Legislature is a unique citizen-led body that meets every odd numbered year, for 140 days. There are 31 members of the Senate, who serve four-year terms, and 150 members of the House of Representatives, who serve…more

Best Practices, Client Services, Coronavirus/COVID-19, Lobbying, Lobbyists

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Stuart Bumpas

More Relief for Shuttered Venue Operators

It takes no stretch of the imagination to understand how devastating the past year of pandemic shut downs and cancellations has been for performance and arts venues like theaters, concert halls and museums. Indeed, in most…more

Coronavirus/COVID-19, Paycheck Protection Program (PPP), Public Venues, Relief Measures, SBA

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Greg Burch

New Chinese Regulation Blocks Extraterritorial Application of Foreign Law

On January 9, 2021, China’s Ministry of Commerce (MOFCOM) issued its No. 1 Order of 2021 titled “The Rules on Blocking Unjustified Extraterritorial Application of Foreign Legislation and Measures” (hereinafter, the “Chinese…more

China, Foreign Corporations, MOFCOM, Subsidiaries

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Philip Bush

Compliance Considerations for Medical ‎Travel Reimbursement

Employers may consider offering medical travel and lodging ‎reimbursement to enable employees who live in a state where abortion is no longer legal to ‎travel out of state for such services. There are a number of ways to design…more

Abortion, Employee Benefits, Pregnancy, Reimbursements, Reproductive Healthcare Issues

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Caron Byrd

Public Facility Corporation Compliance ‎Monitoring: Texas Department of Housing and ‎Community ‎Affairs Proposes Rules

Texas House Bill 2071 (the “Bill”), which took effect on June 18, 2023 to modify Chapter 303 of the Texas Local Government Code (the “Code”) with respect to the ownership of a multifamily residential development (a…more

Housing Developers, Proposed Rules, Public Comment, Real Estate Development, Texas

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Patrick Byrnes

TSA & Cybersecurity – More Than Just Putting Your Laptop Through the X-Ray Machine

When most people hear of the Transportation Safety Administration (“TSA”), they typically think of long lines at the airport, and certainly not cybersecurity. But cybersecurity is top of mind for the TSA these days. This was…more

Cyber Attacks, Cyber Threats, Cybersecurity, Data Protection, Data Security

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Christopher Capelli

U.S. Patent Office Provides Guidance ‎for Patenting Artificial Intelligence Inventions

Introduction - On July 17, 2024, the U.S. Patent and Trademark Office (USPTO) released its 2024 guidance update on patent subject matter eligibility, making significant revisions to its prior guidance on subject matter…more

Artificial Intelligence, Intellectual Property Protection, Inventions, Inventors, Patent Applications

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Gregory Casamento

The State of New York Courts During COVID-19, Revisited

As described in Locke Lord’s previous QuickStudies, New York’s state and federal courts quickly transformed their procedures and operations as a result of the onset of the COVID-19 pandemic. Now, as more residents across New…more

Coronavirus/COVID-19, Court Schedules, State Courts

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Brian Casey

Compliance Tips on State Automatic Renewal Contract Laws

During the last several years, many states have adopted automatic renewal contract, or ARC, laws for the protection of consumers, driven in large part by new subscription-based contracts sold in digital distribution and…more

Automatic Renewals, Cancellation Rights, Consumer Contracts, Contract Terms, Subscription Services

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Alicia Castro

Mexican Anti-Corruption Law Enters Into Effect

On July 19, 2017, Mexico’s new General Law of Administrative Responsibilities (Ley General de Responsabilidades Administrativas) (“GLAR”) went into effect. The GLAR punishes bribery of government officials, as well as bribery by…more

Anti-Corruption, Bribery, Government Officials, Mexico

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Domenic Cervoni

SEC v Covington & Burlington: Client ‎Names Are Not Privileged

The U.S. District Court for the District of Columbia recently issued a decision in a hotly contested (and closely watched) dispute between the Securities and Exchange Commission (the “SEC”) and international law firm Covington &…more

Attorney-Client Privilege, Cyber Attacks, Cybersecurity, Securities and Exchange Commission (SEC), Securities Litigation

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Nicole Chakraborty

Tighter SEC Cybersecurity Incident Disclosure ‎Requirements Go into Effect Today

The new SEC cybersecurity rules (Release No. 33-11216), codify and build on earlier SEC guidance on cybersecurity risks and incidents and require specific cybersecurity-related disclosures…more

Cyber Incident Reporting, Cybersecurity, Disclosure Requirements, Form 8-K, Popular

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Jaremi Chilton

Recent U.S. Tax Court Case Reverses Long Held IRS Position Regarding Taxation of Sales of Partnership Interests by Foreign Investors

Following the inauguration of the new administration in January 2017, many investors were anticipating the passage of a transformative tax reform bill at some point in 2017. Although legislative tax reform is seemingly stalled…more

Corporate Taxes, Foreign Corporations, Income Taxes, Investors, IRS

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Neale Christy

Orange Is the New Black – Cancellation Decisions Confirm Distinction Between Colours and Names of Colours

The EUIPO Cancellation Division has partially upheld cancellation applications against ORANGE marks in respect of certain goods in Classes 11, 16, 18 and 25. Originally published in the August 5, 2024 edition of World…more

EU, European Union Intellectual Property Office (EUIPO), Intellectual Property Protection, Trademark Application, Trademark Litigation

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Alfred Clark

Eviction Moratoria during Coronavirus Pandemic

California Governor Gavin Newson issued an executive order on March 16, 2020 authorizing California cities to ban local evictions for residential and commercial tenants for nonpayment of rent as a result of loss of income…more

Coronavirus/COVID-19, Eviction, Infectious Diseases, Moratorium

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Norris Clark

Potential Impact of the Silicon Valley ‎Bank Insolvency on the Insurance Industry

Financial institutions, including Insurers, are considering the potential impact of the Silicon Valley Bank’s (“SVB’s”) insolvency. SVB and its parent holding company have provided funding and debt financing to InsurTech…more

Banking Sector, Banks, Deposit Accounts, Deposit Insurance, FDIC

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Alan Clement

Back to Basics: Despite Winning the ‎Appeal, Failure to Appeal a ‎Preliminary Injunction Bond ‎Constituted Waiver of Damages

There is no denying the importance of preserving rights for appeal. A recent example of this came about in Novartis Pharmaceuticals Corp. v Accord Healthcare, Inc. et al., Civil Action No. 18-1043 (Memorandum Opinion dated July…more

Patent Infringement, Patent Litigation, Patents, Pharmaceutical Industry, Pharmaceutical Patents

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Paul Coggins

The Foreign Corrupt Practices Act: At a Glance

In this issue: - FCPA AT A GLANCE - THE ANTI-BRIBERY PROVISIONS OF THE FCPA - TO WHOM THE ANTI-BRIBERY PROVISIONS APPLY - THE PAYMENT ELEMENT - THE CORRUPT INTENT ELEMENT - WHO IS A…more

Anti-Bribery, Chief Compliance Officers, Compliance, Disclosure Requirements, Due Diligence

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Todd Cooper

IRS Releases Final Direct Pay Energy Tax Credit Regulations

On March 5, 2024, the Internal Revenue Service and the Treasury Department issued final Treasury Regulations (the “Final Regulations”) updating and finalizing previously published proposed Treasury Regulations relating to the…more

Energy Projects, Inflation Reduction Act (IRA), Internal Revenue Code (IRC), Investment Tax Credits, IRS

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Benjamin Cowan

If at First You Succeed, Try Try Again: BOEM Wastes No Time Queuing up Another Central Atlantic Lease Sale

Fast on the heels of a small but successful sale of two leases off Delaware and Virginia, the Bureau of Ocean Energy Management (BOEM) has issued a Call for Information (“Call”) to kick off another round of leasing in the…more

BOEM, Clean Energy, Energy Sector, Offshore Wind, Renewable Energy

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Roger Cowie

Internal Investigations: The Three C’s – Confidence. Credibility. Cost.

In this issue: - THE THREE C’S — CONFIDENCE, CREDIBILITY AND COST - WHO CONDUCTS THE INVESTIGATION? - SCOPE OF THE INVESTIGATION - MINDSET AT THE OUTSET OF AN INVESTIGATION - THE NEED FOR SPEED -…more

Attorney-Client Privilege, Audits, Corporate Culture, Data Privacy, Data Protection

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Alexander Cox

Texas and Oregon Data Privacy Laws: Applicability Concerns and Enforcement

Two state privacy laws that pose unique applicability concerns went into effect July 1, 2024: the Oregon Consumer Privacy Act (the “OCPA”) and the Texas Data Privacy and Security Act (the “TDPSA”). Generally following the…more

Cybersecurity, Data Privacy, Data Protection, Data Security, Personal Data

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Akilah Craig

Texas Requires Workplace Violence Prevention Plans for Healthcare Facilities

On September 1, 2023, Chapter 331 of the Texas Healthcare and Safety Code, the “Workplace Violence Prevention” (“WVP”) law went into effect, which requires healthcare facilities in Texas to adopt workplace violence prevention…more

Employer Liability Issues, Healthcare Facilities, Healthcare Workers, Workplace Safety, Workplace Violence

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Thomas Cunningham

The End of the Road for Chevron

In a 6-3 decision issued June 28, 2024, the U.S. Supreme Court overruled Chevron USA, Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984), which long stood for the proposition that courts are to defer to an…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Loper Bright Enterprises v Raimondo

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Brandon Curtin

Recent Presidential Order Unwinding ‎Real Estate Transaction Reinforces CFIUS’ Heightened ‎‎Enforcement Regime

On May 13, 2024, President Biden issued an order (the “Order”) prohibiting the purchase and requiring the divestment of certain real estate operated as a cryptocurrency mining facility located within one mile of Francis E…more

CFIUS, Foreign Acquisitions, Foreign Investment, National Security

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Brianna Dally

Challenging Recent Developments for Incident Response

The United States is on track to see a record number of data breaches in 2023 and state regulators are paying attention. The swift action required by victim companies includes containment and elimination of the threat, and quick…more

Cyber Attacks, Cybersecurity, Data Breach, Data Privacy, Data Protection

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Jon Daly

Public Company Option Grants in 2024

Public companies planning to grant stock options, SARs or similar option-like instruments to executive officers in 2024 should consider whether to avoid the windows in which a new disclosure requirement under SEC rules applies…more

Disclosure Requirements, Form 10-K, Publicly-Traded Companies, Regulation S-K, Securities and Exchange Commission (SEC)

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Victoria de Lisle

[Webinar] Issues and Recent Developments in Art Law, Part 1: Lending Issues - Wealth Management - February 21st, 11:00am CT

Please join Christie’s and the Locke Lord LLP Art Law Group for an informative discussion on current lending issues affecting art. Wednesday, February 21, 2018, 11:00 a.m. - 12:30 p.m. (Central. Program will promptly begin at…more

Art Auctions, Art Collections, Artistic Works, CEOs, CFOs

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James De Rose III

The State of New York Courts During COVID-19, Revisited

As described in Locke Lord’s previous QuickStudies, New York’s state and federal courts quickly transformed their procedures and operations as a result of the onset of the COVID-19 pandemic. Now, as more residents across New…more

Coronavirus/COVID-19, Court Schedules, State Courts

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Nick Dickerson

OFAC Russia Related Sanctions Update: ‎July 2022‎

On June 28, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) issued five new General Licenses (“GL”) (GL 39, GL 40, GL 41, GL 42, and GL 43), released a new determination prohibiting gold…more

Bureau of Industry and Security (BIS), Economic Sanctions, Export Administration Regulations (EAR), Export Controls, Financial Institutions

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Brian Dierzé

California Supreme Court Ruling Gives Guidance on Compensable Time Under California ‎Law

On March 25, 2024, the California Supreme Court issued its decision in Huerta v. CSI Electrical Contractors. This ruling provides important guidance as to what does and does not constitute sufficient employer control to make…more

CA Supreme Court, Employer Liability Issues, Employment Litigation, State Labor Laws, Wage and Hour

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Nick DiGiovanni

Navigating the Maze of Medical Cannabis - Uncertainty and the Challenge of Obtaining Banking and Insurance Services for Marijuana-Related Businesses

The current and two immediate past presidents have smoked it. As one leading expert commented during a congressional hearing, perhaps “marijuana is a gateway drug to the White House?” Medical marijuana is now legal in nearly…more

Commercial Bankruptcy, Controlled Substances, DEA, Dispensaries, Financial Institutions

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Kirk Dillard

What We Know and What is Ahead: COVID-19 Financial Assistance

As of the date of this QuickStudy, although it is anticipated that Congress will increase the federal funds allocated to the Paycheck Protection Program (the “PPP”) by the Coronavirus Preparedness and Response Supplemental…more

CARES Act, Coronavirus/COVID-19, Economic Injury Disaster Loans, Paycheck Protection Program (PPP), Relief Measures

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Gislar Donnenberg

Public Company Option Grants in 2024

Public companies planning to grant stock options, SARs or similar option-like instruments to executive officers in 2024 should consider whether to avoid the windows in which a new disclosure requirement under SEC rules applies…more

Disclosure Requirements, Form 10-K, Publicly-Traded Companies, Regulation S-K, Securities and Exchange Commission (SEC)

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Ryan Dornberger

Federal Circuit Clarifies Liability of ‎Foreign Revenue for U.S. Domestic Patent ‎Infringement

In a ruling with significant implications for both plaintiffs and defendants in patent infringement disputes, the Federal Circuit recently clarified the law on using foreign revenue as a damages base for U.S. patent…more

Damages, Intellectual Property Protection, Patent Infringement, Patent Litigation, Patents

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Lauren Doughty

[Webinar] Issues and Recent Developments in Art Law Part 5: Trusts and Estates: Artful Planning - January 30th, 11:00am CT

Please join Christie’s and the Locke Lord LLP Art Law Group for a webinar discussing the latest issues related to art law…more

Art Collections, Charitable Donations, Continuing Legal Education, Estate Planning, Fine Art

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Chris Dove

Can an Arbitrator Require Arbitration by Videoconference?

In response to the stay-at-home orders issued by various state and local authorities aimed at slowing the spread of COVID-19, all aspects of the economy have been experimenting with various online platforms as a way to keep…more

Arbitration, Arbitrators, Coronavirus/COVID-19, Dispute Resolution, Videoconference

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Robert Durant Jr.

The Massachusetts Supreme Judicial Court Ends Confusion on Right to Reinstate Prior to Foreclosure

On November 25, 2020, the Supreme Judicial Court of Massachusetts (“SJC”) issued a decision in Thompson v. JPMorgan Chase Bank, N.A., SJC-12798, ___ Mass ___ (2020), holding that state law overrides the requirement in the…more

Acceleration, Borrowers, Default, Foreclosure, Mortgages

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Monika Dziemianczuk

Pulling the Trigger on Force Majeure: An Update from the Midstream Energy Perspective

Last month we provided a Locke Lord LLP QuickStudy outlining Texas law on force majeure in light of COVID-19 and the oil price war. While the price war may have reached a cease-fire, the pandemic and its effect on the global…more

Contract Terms, Coronavirus/COVID-19, Energy Sector, Force Majeure Clause, Oil & Gas

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Philip Eisenberg

Riding the Regulatory Wave: BOEM ‎Issues New Rules for Surfing the ‎Provision of Financial ‎Assurance

The regulatory seascape for financial assurance related to offshore oil and gas production and decommissioning in federal waters has come in waves over the past decade, and like waves, the regulations often build momentum only…more

BOEM, Energy Sector, Offshore Lease, Oil & Gas

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Grace Elliott

UPDATE – Form 5330 E-Filing Requirement Headache Relieved for 2024

In a blog post dated May 10, 2024, we discussed the Form 5330, an excise tax return used by certain employers and individuals to pay penalty taxes with respect to employee benefit plans, must be filed electronically for taxable…more

Electronic Filing, Excise Tax, Filing Requirements, IRS

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Nick Elwell-Sutton

U.K. General Election 2024: Labour and Employment Law Proposals

If the opinion polls are to be believed, on 5 July 2024 the United Kingdom will have a new Prime Minister from the left-leaning Labour party following a landslide victory. A central Labour party pledge is its “Plan to Make Work…more

Employee Rights, Employer Liability Issues, Hiring & Firing, International Labor Laws, UK

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Sky Emison

Supreme Court Rules 8-1 That Government Must Pay Health Insurers Under ACA Risk Corridor Program

In a major win for health insurers, the U.S. Supreme Court ruled in an 8-1 decision that the federal government owes roughly $12.3 billion to health insurers who claimed losses under the risk corridor program of the Affordable…more

Affordable Care Act, Appropriations Bill, Court of Federal Claims, Damages, Government Payments

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John Emmanuel

Navigating the Impact of the New Fiduciary Rule on Insurers and Producers

On April 23, 2024, the U.S. Department of Labor (the “DoL”) released its final rule (“Fiduciary Rule”) titled Retirement Security Rule: Definition of an Investment Advice Fiduciary (an “Investment Advice Fiduciary”), which will…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Fiduciary Rule

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Cesar Escalante

But-For, or Not But-For: That Is the Question for FMLA Retaliation Claims

For a retaliation claim under the Family and Medical Leave Act (“FMLA”), must an employee show that an adverse employment action would not have happened but-for (i.e., it happened only because of) the employee’s request for FMLA…more

Adverse Employment Action, Employer Liability Issues, Employment Litigation, Family and Medical Leave Act (FMLA), Retaliation

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Jeffrey Escobar

New York City’s Proposed “City of Yes ‎for Carbon Neutrality” ‎Zoning Initiative Offers ‎Potential ‎Renewable Energy Boom to ‎Developers

New York City Mayor Eric Adams recently officially unveiled a wide-ranging zoning initiative ‎proposal that, if passed by the City Council this October, will not only provide broad-ranging ‎new economic opportunities for…more

Investment Tax Credits, Production Tax Credit, Renewable Energy, Solar Energy, Zoning Laws

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Geoffrey Etherington

Delaware Now Permits Exculpation of Corporate Officers

The Delaware General Corporation Law (§ 102(b)(7)) has been amended, effective August 1, 2022, to permit exculpation of corporate officers, but in a more limited way than the exculpation of directors that has long been…more

Breach of Duty, Corporate Officers, Delaware General Corporation Law, Fiduciary Duty

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Dale Evans Jr.

The End of the Road for Chevron

In a 6-3 decision issued June 28, 2024, the U.S. Supreme Court overruled Chevron USA, Inc. v. Natural Resources Defense Council, Inc., 467 U.S. 837 (1984), which long stood for the proposition that courts are to defer to an…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Loper Bright Enterprises v Raimondo

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Robert Evans III

Public Company Option Grants in 2024

Public companies planning to grant stock options, SARs or similar option-like instruments to executive officers in 2024 should consider whether to avoid the windows in which a new disclosure requirement under SEC rules applies…more

Disclosure Requirements, Form 10-K, Publicly-Traded Companies, Regulation S-K, Securities and Exchange Commission (SEC)

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Mikaella Evaristo

Back to Basics: Despite Winning the ‎Appeal, Failure to Appeal a ‎Preliminary Injunction Bond ‎Constituted Waiver of Damages

There is no denying the importance of preserving rights for appeal. A recent example of this came about in Novartis Pharmaceuticals Corp. v Accord Healthcare, Inc. et al., Civil Action No. 18-1043 (Memorandum Opinion dated July…more

Patent Infringement, Patent Litigation, Patents, Pharmaceutical Industry, Pharmaceutical Patents

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Timothy Farber

Illinois Department of Insurance Requires Independent Third Party Background Investigation Reports

The Illinois Department of Insurance recently issued a bulletin requiring all companies to obtain independent third party background investigation/verification reports from nationally recognized vendors. The reports must be…more

Background Checks, Department of Insurance, NAIC, Third-Party, Vendors

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Joseph Farside Jr.

2024 HSR Thresholds Announced by ‎‎FTC

The FTC has increased the HSR filing thresholds for transactions that will close on or after a date in the last week of February, to be determined. The new 2024 thresholds are as follows..…more

Department of Justice (DOJ), Federal Trade Commission (FTC), Filing Fees, Hart-Scott-Rodino Act, Mergers

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Douglas Faucette

Brokered Deposits: FDIC Adds an ‎Additional Business Relationship to the Primary Purpose ‎‎Exception

Effective January 10, 2022, the Federal Deposit Insurance Corporation (“FDIC”) issued a final rule ‎‎(the “Primary Purpose Rule”) that adds a specific business relationship that qualifies under the ‎Primary Purpose Exception…more

Depository Institutions, FDIC, Federal Deposit Insurance Act, Final Rules

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Sean Feener

Unexpected Rescue: Observations on ‎the Silicon Valley Bank Closure and Ongoing Market Disruptions

Over the past several days, Locke Lord LLP has closely followed the closures of Silicon Valley Bank ‎in Santa Clara, California (“SVB”) and New York based Signature Bank, as well as the ensuing ‎volatility experienced by many…more

Banking Sector, Banks, Deposit Accounts, Deposit Insurance, FDIC

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Laura L. Ferguson

HIPAA Data Management Requirements for Electronic Protected Health Information

While all companies must take measures to safeguard the privacy and integrity of their electronic data, covered entities and their business associates subject to the Health Insurance Portability and Accountability Act of 1996,…more

Data Management, Data Privacy, Department of Health and Human Services (HHS), Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA)

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Sean Fifield

The Madrid Protocol - August 2024

The United States is a party to the Madrid Protocol, an international treaty simplifying and centralizing the process for registering trademarks on an international basis. This treaty allows owners of U.S. trademark…more

Intellectual Property Protection, International Trademark Protection, IP License, Madrid Protocol, Trademark Application

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Lauren Morgan Fincher

Ramifications for Texas State Agencies ‎After Overturning of Chevron Deference

In Loper Bright Enterprises v. Raimondo, No. 22-4511, 2024 WL 3208360 (June 28, 2024), the U.S. Supreme Court overturned an essential and longstanding cornerstone of administrative law: Chevron deference. While the Chevron…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

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Christopher Flanagan

IRS Issues Carried Interest Guidance

On July 31, 2020, the Internal Revenue Service and the U.S. Treasury Department issued Proposed Treasury Regulations (the “Proposed Regs”) providing guidance under the “carried interest” rules of Section 1061 of the Internal…more

Capital Gains, Income Taxes, Internal Revenue Code (IRC), IRS

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Simon Fleischmann

TransUnion v. Ramirez: Supreme Court Further Separates Concrete Harm Inquiry from Statutory Violations

In its 2016 decision in Spokeo, Inc. v. Robins, 136 S. Ct. 1540 (2016), the U.S. Supreme Court held that alleging a “bare procedural violation [of a statute], divorced from any concrete harm” was insufficient to satisfy the…more

Article III, Class Action, Class Members, Credit Reporting Agencies, Credit Reports

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William Foley Jr.

New York State Senate Extends ‎Foreclosure and Eviction Moratorium from August 31, ‎‎2021 ‎until January 15, 2022‎

In one of her first acts as Governor of New York, newly appointed Governor Kathy Hochul ‎called for a “Special” legislative session on September 1, 2021, to extend the moratorium on ‎foreclosure and eviction actions provided in…more

Coronavirus/COVID-19, Eviction, Foreclosure, Infectious Diseases, Landlords

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Christopher Fontenelli

Who Can Possibly Keep up ‎With All the ‎New Employment ‎Laws in New York?

Back in May 2022, we wrote about a surge of new employment laws and amendments to existing employment statutes in New York State and New York City. Since then, New York State and New York City have continued to enact a wave of…more

Corporate Counsel, Disclosure Requirements, Employer Liability Issues, New York, Pay Transparency

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Megan Foscaldi

Public Company Option Grants in 2024

Public companies planning to grant stock options, SARs or similar option-like instruments to executive officers in 2024 should consider whether to avoid the windows in which a new disclosure requirement under SEC rules applies…more

Disclosure Requirements, Form 10-K, Publicly-Traded Companies, Regulation S-K, Securities and Exchange Commission (SEC)

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David Foster

Texas Supreme Court Clarifies How ‎Equitable Subrogation Operates for Texas Home ‎Loans

On May 12, 2023, the Supreme Court of Texas held, in a unanimous decision, that a claim to foreclose on a subrogated real property lien accrues when the refinance loan is accelerated, not when the prior loan (the payoff of which…more

Equitable Subrogation, Foreclosure, Liens, Mortgage Lenders, Mortgages

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Gerald Francese

OFAC Issues General Licenses, Updates FAQ, and Issues New Blocking Rule and Reminder to File Annual Blocked Property Report

On September 5, 2024, the Department of the Treasury's Office of Foreign Assets Control (“OFAC”) released General License (“GL”) 108 (“Authorizing Limited Safety and Environmental Transactions Involving Certain Blocked Persons…more

Blocked Person, Economic Sanctions, Foreign Policy, Foreign Relations, General Licenses

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Richard Franchek

Supreme Court Limits the Scope of ‎‎“Waters of the ‎U.S.”‎: What Developers Need to Know‎

The definition of the term “waters of the United States” (“WOTUS”) in the Clean Water Act (“CWA”), and the resulting scope of the jurisdiction of the U.S. Environmental Protection Agency (“EPA”) and U.S. Army Corps of Engineers…more

Clean Water Act, Environmental Protection Agency (EPA), Navigable Waters, Sackett, Sackett v EPA

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Donald Frechette

The ILS Market and its Future in the wake of the 2017 Hurricane Havoc

Not since Katrina in 2005 have the mainland United States and U.S. Territory islands been witness to a Category 5 storm that resulted in widespread and costly devastation. Now, first Harvey, then Irma and Maria. What does this…more

Hurricane Harvey, Hurricane Irma, Insurance Industry, Natural Disasters, Severe Weather

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Mark Freel

Legalized Marijuana in Rhode Island ‎Presents New Challenges ‎for Employers

On Tuesday, May 24, the Rhode Island General Assembly passed legislation legalizing the ‎recreational use of marijuana. The bill will become law upon the signature of Governor Dan McKee, ‎which is expected. Recreational cannabis…more

Corporate Counsel, Decriminalization of Marijuana, Employer Liability Issues, Employment Policies, Marijuana

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Nicole Fry

Brexit: CHECKLIST

Following the UK Brexit referendum businesses will now find themselves assessing their future. Below is a checklist designed to raise some important questions that should be considered in order to assess potential risks and…more

Cross-Border, Data Protection, EU, European Economic Area (EEA), European Union Trade Mark (EUTM)

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Matthew Furton

Illinois Adopts Substantial Workers' Compensation Reform to Address COVID-19

Through a virtually unanimous vote in the General Assembly, Illinois adopted substantial changes in its Workers’ Compensation and Occupational Diseases statutes to address the COVID-19 pandemic. Recognizing that many workers…more

Coronavirus/COVID-19, General Assembly, State Labor Laws, Workers Compensation Reform

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Michael Gaertner

Know the Rules! FDA’s New Regulations Change Responsibilities For ANDA Filers

On October 6, 2016, nearly thirteen years after passage of the Medicare Modernization Act (MMA), FDA published a final rule in the Federal Register implementing amendments and revisions to title 21 of the Code of Federal…more

Abbreviated New Drug Application (ANDA), Food and Drug Administration (FDA), Hatch-Waxman, Pharmaceutical Industry, Pharmaceutical Patents

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Brendan Gaffney

DOJ Updates Guidance for Evaluation of Corporate Compliance Programs

On Monday, June 2, 2020, the DOJ’s Criminal Division announced updates to its guidance for Evaluation of Corporate Compliance Programs (the “Guidance”). The Guidance is a tool for federal prosecutors to evaluate the…more

Cooperative Compliance Regime, Corporate Misconduct, Department of Justice (DOJ), Guidance Update

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David Gair

In Innocent Spouse Tax Cases, How You Tell Your Story Matters

Married people who file their taxes jointly typically choose this option because of its tax advantages. But when a spouse commits a misdeed, you’re still jointly and severally responsible for the payment of taxes. Originally…more

Divorce, Innocent Spouse Exception, IRS, Tax Court, Tax Liability

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Gabrielle Gelozin

U.S. Patent Office Provides Guidance ‎for Patenting Artificial Intelligence Inventions

Introduction - On July 17, 2024, the U.S. Patent and Trademark Office (USPTO) released its 2024 guidance update on patent subject matter eligibility, making significant revisions to its prior guidance on subject matter…more

Artificial Intelligence, Intellectual Property Protection, Inventions, Inventors, Patent Applications

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Jon Gillum

Texas Department of Insurance Adopts New Group Capital Calculation Rule

The Texas Department of Insurance (“TDI”) adopted a new group capital calculation filing requirement that is effective on November 7, 2022. The new rule, found in 28 Texas Administrative Code §7.215 (“Section 7.215”), is…more

Department of Insurance, Filing Requirements, Insurance Industry, NAIC

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Richard Glovsky

Some Individuals Acting as Franchisees Are Independent Contractors Under Massachusetts’ Strict Classification Test

7-Eleven has been defending its position for years that individuals operating as franchisees of its retail stores in Massachusetts are not employees under that state’s strict Independent Contractor Law but rather are exempt from…more

Franchise Agreements, Franchises, Independent Contractors, Retailers

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Matthew Goodin

Supreme Court Reinvigorates Forum ‎Shopping in Mallory v. Norfolk Southern Railway Co.‎

On June 27, 2023, the Supreme Court in Mallory v. Norfolk Southern Railway Co., 600 U.S. ___ (2023) substantially broadened (at least temporarily) the bases for general personal jurisdiction over out-of-state corporations in…more

Constitutional Challenges, Mallory v Norfolk Southern Railway Co, Out-of-State Companies, Personal Jurisdiction, SCOTUS

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Karen Grande

More Relief for Shuttered Venue Operators

It takes no stretch of the imagination to understand how devastating the past year of pandemic shut downs and cancellations has been for performance and arts venues like theaters, concert halls and museums. Indeed, in most…more

Coronavirus/COVID-19, Paycheck Protection Program (PPP), Public Venues, Relief Measures, SBA

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David Grant

Regis - Landlords Lose the Fight to Force CVA Nominees to Return Their Fees

In a judgment handed down earlier today in Regis UK Limited, Mr Justice Zacaroli ruled against landlords seeking repayment of fees against the nominees of a CVA for hair salon and beauty business operator, Regis UK…more

Creditors, Insolvency, Landlords, UK Insolvency Act

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Gil Greber

Revisions to Chapter 517, F.S., the Florida Securities and Investor Protection Act

Overview On May 10, 2024, the Florida Governor approved Senate Bill 532 (“SB 532”), which passed the Florida House and Senate by nearly unanimous vote (1 vote against in the Senate). SB 532 substantially revises Chapter 517,…more

Crowdfunding, Exempt Transactions, Florida, Investors

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Alyssa Falk Gregory

Practical Considerations for Commercial Litigation during the COVID-19 Era

As the COVID-19 pandemic continues to keep most of the country in an unprecedented state of shutdown, including most of the nation’s court systems, this Quick Study analyzes practical issues businesses should consider for…more

Coronavirus/COVID-19, Court Closures, Court Schedules, Infectious Diseases

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David Gregory

DOL Expected to Raise the Salary Basis Threshold

The United States Department of Labor (“DOL”) is expected to propose a new salary threshold for various overtime exemptions under the Fair Labor Standards Act (“FLSA”). The new proposal is likely to be issued in the near future…more

Department of Labor (DOL), Fair Labor Standards Act (FLSA), Minimum Salary, Over-Time, Wage and Hour

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Kathleen Grossman

Less Is More When It Comes to Employee Monitoring

With the increase in remote work, employers’ concerns over the security of proprietary company information and employee productivity have increased their reliance on technologies to manage and monitor employees…more

Employee Monitoring, Employee Privacy Rights, Employee Rights, Employee Tracking, Employer Liability Issues

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Elizabeth Guffy

[Webinar] Distressed Energy Assets: Market Update and Key Considerations For Acquirers - April 23rd, 12:00 pm - 1:00 pm CT

- Current Climate: Discussion of the current restructuring environment.? - Tactical Considerations: The pros and cons of purchasing through bankruptcy and the differences between jurisdictions.? - Process Questions:…more

Acquisitions, Continuing Legal Education, Debt Restructuring, Distressed Assets, Economic Downturn

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Randall Hack

President Biden Issues Sweeping ‎Executive Order Directed at Promoting Competition ‎in the ‎American Economy

On July 9, 2021, President Joe Biden signed an expansive Executive Order directed at increasing competition in the U.S. economy. The Executive Order contains 72 initiatives pertaining to more than a dozen federal agencies,…more

Biden Administration, Competition, Department of Justice (DOJ), Executive Orders, FCC

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Samuel Hagerty

TDHCA Appoints New Executive Director & Announces $79.5 Million in Tax Credit Allocations

Bobby Wilkinson was named the Executive Director of The Texas Department of Housing and Community Affairs (TDHCA), effective August 15th…more

Affordable Housing, State and Local Government, Tax Credits

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Denise Hanna

New Medicaid/CHIP Managed Care Rule Reins in MLR Reporting

In late April, the Centers for Medicare & Medicaid Services (CMS) issued the final Managed Care Rule, which codifies revisions intended to “improve access to care, accountability and transparency for the approximately 80 million…more

Centers for Medicare & Medicaid Services (CMS), Children's Health Insurance Program (CHIP), Health Care Providers, Medicaid

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Matthew Hansen

Texas Supreme Court Holds Financial ‎Institutions May Be Served Only Through Their Registered ‎‎Agent

In an attempt to invalidate mortgage liens without affording lienholders due process, borrowers (and purchasers of real estate subject to a mortgage lien) sometimes pursue quiet title actions premised upon suspect attempts to…more

Banking Sector, Financial Institutions, Liens, Mortgages

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Roy Hardin

The Madrid Protocol

The United States is a party to the Madrid Protocol, an international treaty simplifying the process for registering trademarks on an international basis. This treaty allows owners of U.S. trademark registrations and pending…more

Intellectual Property Protection, International Trademark Protection, IP License, Madrid Protocol, Trademark Application

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David Harrell

Texas Adopts Business Courts

Texas adopted legislation to create a business court. The bill fashioned the business court’s jurisdiction to disputes between businesses, and among businesses and their owners, directors and management. The statute focuses on…more

Business Court, Complex Litigation, Jurisdiction, New Legislation, Texas

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Kirsty Harrower

New Economic Crime Act 2022 ‎Introduced in England and ‎Wales – What Does It Mean for Me?‎

1. What is the new legislation? The Economic Crime (Transparency and Enforcement) Act 2022 (“the Act”) introduced a new Register of Overseas Entities (“the Register”) at Companies House for overseas entities which own…more

Beneficial Owner, Foreign Entities, Real Estate Transactions, UK

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Scott Hastings

Locke Lord QuickStudy: Texas Supreme Court Authorizes Attorney Fees’ Awards in Home Equity Cases

On Friday, February 6, 2015, the Texas Supreme Court issued its decision in Case No. 13-0236, Wells Fargo Bank, N.A. v. Murphy, and held that the Texas Constitution’s prohibition against non-recourse home equity loans, see TEX…more

Appeals, Attorney's Fees, Banks, Borrowers, Declaratory Judgment Act

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Patrick Hatfield

Updating Security Exhibits for Remote Personnel

When the pandemic hit, companies across the country and beyond scrambled their workforces to work from home. No doubt, the IT and cyber security teams for companies were overwhelmed, some more than others, to address the new…more

Cybersecurity, Data Privacy, Data Protection, Data Security, Personally Identifiable Information

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Brian Hays

FCC Cracks Down on AI-Generated ‎Telephone Calls Under TCPA

The FCC issued a quick and unanimous Declaratory Ruling confirming that telephone calls (a) featuring artificial intelligence-generated messages simulating or cloning a human voice or (b) generating call content using a…more

Artificial Intelligence, FCC, Robocalling, TCPA, Telecommunications

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Kevin Heath

Traders Must Provide Information to Consumers About Alternative Dispute Resolution

As the Department for Business Innovation & Skills succinctly puts it: - Alternative dispute resolution (ADR) refers to ways of resolving disputes between consumers and traders that don’t involve going to court. The…more

Dispute Resolution, EU, Online Dispute Resolution (ODR), UK

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Ben Henry

A no-deal Brexit – Are you prepared?

Recent developments in Parliament suggest that the possibility of a no-deal Brexit is a real one. The UK Government has been introducing legislation and temporary regimes on a unilateral basis to mitigate against the effects of…more

EU, European Economic Area (EEA), No-Deal Brexit, UK, UK Brexit

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David Herbert

Discharge of Contractual Obligations by Prospective Frustration: When is a Frustrating Event Triggered by COVID-19?

The effects of a global pandemic, and governmental restrictions imposed as a result of it, may clearly give grounds for contracting parties to claim discharge of their agreements relying on the doctrine of frustration (even in…more

Contract Terms, Coronavirus/COVID-19, Force Majeure Clause, Infectious Diseases

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Vincent Hess

[Webinar] 28th Annual Employee Benefits Seminar - September 21st, 8:20am Central / 9:20am Eastern

Program Highlights Please join the Locke Lord Employee Benefits and Executive Compensation Group for our 28th annual employee benefits seminar via webinar. Our attorneys will provide an overview of current developments related…more

501(c)(3), Acquisitions, Benefit Plan Sponsors, CEOs, CFOs

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Gerald Higdon

What the Regulated Community Needs ‎to Know About EPA’s Proposed ‎Designation of PFOA and PFOS ‎as CERCLA Hazardous Substances

On August 26, 2022, the US Environmental Protection Agency (EPA) released a pre-publication version of a highly-anticipated proposal to add two of the most widely-used per- and polyfluoroalkyl substances (PFAS) to the list of…more

CERCLA, Contamination, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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Kent Hofmann

Recent Opinion Reinforces Difficulty—and Importance—of Ensuring Correct Deadlines Are Followed in Administrative Proceedings

A recent opinion from the Third Court of Appeals in Austin highlights the importance of double-checking deadlines to ensure all administrative remedies are exhausted before filing a lawsuit for judicial review of a state agency…more

Administrative Remedies, Judicial Review, Petition For Rehearing, Public Utilities Commission

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Nina Huerta

UPDATE On The Families First Coronavirus Response Act (FFCRA) Leave Protections Following Enactment of Consolidated Appropriations Act, 2021

Updated December 28, 2020 UPDATE: On December 21, 2020, Congress passed the Consolidated Appropriations Act, 2021 [Including Coronavirus Stimulus & Relief]. On December 27, 2020, President Trump signed this legislation into…more

CARES Act, Coronavirus/COVID-19, Department of Labor (DOL), Families First Coronavirus Response Act (FFCRA), Family and Medical Leave Act (FMLA)

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Emily Huggins Jones

Rough Seas Ahead for U.S. Cabotage Law in the Wake of Loper Bright?

Much has already been written about the shockwaves reverberating from the Supreme Court’s decision in Loper Bright Enterprises, et. al. v. Raimondo, Sec. of Comm., et. al., No. 22-451, 2024 U.S. LEXIS 2882 (2024). As the…more

Administrative Procedure Act, Chevron Deference, Government Agencies, Jones Act, Judicial Authority

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Ellen Hughes-Jones

The Madrid Protocol

The United States is a party to the Madrid Protocol, an international treaty simplifying the process for registering trademarks on an international basis. This treaty allows owners of U.S. trademark registrations and pending…more

Intellectual Property Protection, International Trademark Protection, IP License, Madrid Protocol, Trademark Application

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Stephen Humeniuk

In Desperate Times . . . . Travelport Puts $1.15 Billion in Collateral Value beyond the Reach of its Creditors

As we have discussed in previous QuickStudies, certain borrowers in industries experiencing particularly adverse economic conditions have taken advantage of flexible terms in their credit agreements to transfer valuable…more

Borrowers, Collateral, Creditors, EBITDA, Popular

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Cole Hutchison

Texas Supreme Court Issues Electric Opinion on PUC Orders During Winter Storm Uri

On June 14, 2024, the Supreme Court of Texas issued a pivotal opinion concerning the actions of the Public Utility Commission of Texas (Commission) during 2021’s Winter Storm Uri. In Public Utility Commission of Texas v…more

Electricity, Energy Sector, Public Utilities Commission, Severe Weather, Texas

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Fazila Issa

Key Employer Updates for 2024/2025 – ‎Part One in This Series: Offer Letters and Job ‎Descriptions

As Q4 approaches, many employers are completing 2024 goals and setting 2025 goals, including updating their key employment policies and agreements to ensure they align with ever-evolving federal, state, and local laws and…more

Employer Liability Issues, Employment Policies, Fair Labor Standards Act (FLSA), Job Descriptions, Restrictive Covenants

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Mark Jacob

Disappearing Discounts?: IRC 2704 Proposed Regulations Threaten Valuation Discounts for Transfers of Interests in Family-Controlled Entities

Purpose of Section 2704 - Internal Revenue Code Section 2704 was originally passed to restrict certain types of valuation discounts on transfers of ownership interests in family-owned businesses among family members. While…more

Estate Planning, Family Businesses, Internal Revenue Code (IRC), IRC Section 2704, Valuation

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Daron Janis

Texas Supreme Court Clarifies How ‎Equitable Subrogation Operates for Texas Home ‎Loans

On May 12, 2023, the Supreme Court of Texas held, in a unanimous decision, that a claim to foreclose on a subrogated real property lien accrues when the refinance loan is accelerated, not when the prior loan (the payoff of which…more

Equitable Subrogation, Foreclosure, Liens, Mortgage Lenders, Mortgages

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Thomas Jefferson IV

Delaware Decision Limits Coverage of D&O Insurance Policies

In a case with implications for director and officer protections, and of particular relevance to principals of private equity firms, the Delaware Superior Court recently denied two former directors coverage under a D&O insurance…more

Corporate Counsel, D&O Insurance, Insurance Industry, Insurance Litigation, Private Equity Firms

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Nicholas Jennings

FCA’s Proposals for Reform of UK Listing ‎Regime

On 3 May 2023 the Financial Conduct Authority (FCA) published its consultation paper (CP23/10) setting out a blueprint for significant reforms of the UK listing regime for issuers of shares. The policy proposals are intended to…more

Financial Conduct Authority (FCA), Financial Services Industry, Investors, Shareholders, UK

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Natalie Jersak

Help for State and Local Governments: Federal Reserve Issues Additional Guidance on Municipal Liquidity Facility

On Monday, April 27th, the Federal Reserve announced additional guidance regarding its Municipal Liquidity Facility (the “Facility”), which was first announced on April 9th and was established to buy short-term debt in municipal…more

Coronavirus/COVID-19, Federal Reserve, Municipal Liquidity Facility (MLF), NRSRO

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Tim Johnson

Mexican Anti-Corruption Law Enters Into Effect

On July 19, 2017, Mexico’s new General Law of Administrative Responsibilities (Ley General de Responsabilidades Administrativas) (“GLAR”) went into effect. The GLAR punishes bribery of government officials, as well as bribery by…more

Anti-Corruption, Bribery, Government Officials, Mexico

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Van Jolas

2024 HSR Thresholds Announced by ‎‎FTC

The FTC has increased the HSR filing thresholds for transactions that will close on or after a date in the last week of February, to be determined. The new 2024 thresholds are as follows..…more

Department of Justice (DOJ), Federal Trade Commission (FTC), Filing Fees, Hart-Scott-Rodino Act, Mergers

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Scott Jones

Modifications to OIG’s Health Care ‎Fraud Self-Disclosure Protocol Provides Additional ‎Benefits for ‎Reporting

“Houston, we have a problem:” words no in-house counsel ever wants to hear, especially regarding potential compliance issues with federal fraud prevention statutes and regulations. Fortunately, the Office of the Inspector…more

Anti-Kickback Statute, Centers for Medicare & Medicaid Services (CMS), Corporate Integrity Agreement, Department of Health and Human Services (HHS), Health Care Providers

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Matthew Kalas

Drones 2022 – To Infinity and Beyond, or Back to the Drawing Board?

For the better part of a decade, the buzz within the Unmanned Aircraft Systems (“UAS”) industry has centered on when the Federal Aviation Administration (“FAA”) would put in place a regulatory environment that would allow for…more

Beyond Visual Line Of Sight (BVLOS), Data Privacy, Drones, Federal Aviation Administration (FAA), Unmanned Aircraft Systems

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Josh Kaplowitz

If at First You Succeed, Try Try Again: BOEM Wastes No Time Queuing up Another Central Atlantic Lease Sale

Fast on the heels of a small but successful sale of two leases off Delaware and Virginia, the Bureau of Ocean Energy Management (BOEM) has issued a Call for Information (“Call”) to kick off another round of leasing in the…more

BOEM, Clean Energy, Energy Sector, Offshore Wind, Renewable Energy

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Stanley Keller

Public Company Option Grants in 2024

Public companies planning to grant stock options, SARs or similar option-like instruments to executive officers in 2024 should consider whether to avoid the windows in which a new disclosure requirement under SEC rules applies…more

Disclosure Requirements, Form 10-K, Publicly-Traded Companies, Regulation S-K, Securities and Exchange Commission (SEC)

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Toyja Kelley

Following the Trail of Lost or Destroyed ESI with Forensic Imaging

When there is potentially crucial evidence on a computer or device once controlled by the opposing party, an ex-employee plaintiff, or someone suspected to have stolen trade secrets we want to track it down as soon as possible…more

Cyberforensics, Data Preservation, Discovery, e-Discovery Professionals, Electronically Stored Information

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Kevin Kelly

Permanent Changes for Temporary Employees: Illinois Expands Protections for Temporary Employees ‎and Implements Stricter Compliance Requirements for Temporary Agencies and Employers

Amendments to the Illinois Day and Temporary Labor Services Act (the “Act”) became effective on August 4, 2023. These amendments pose serious challenges for the way temporary labor service agencies (“Temp Agencies”) and…more

Employer Liability Issues, Staffing Agencies, State Labor Departments, State Labor Laws, Temporary Employees

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Jennifer Kenedy

Generative AI and Copyright ‎Infringement: Federal Judge in Stability AI Distinguishes ‎‎Between AI Model Creators and Users – For Now

A California federal judge recently issued one of the first substantive generative AI decisions to date. In Anderson, et al., v. Stability AI Ltd. et al., 23-cv-00201-WHO (N.D. Cal. Oct. 30, 2023) (“Stability AI”), Plaintiffs, a…more

Artists, Copyright, Copyright Infringement, Copyright Litigation, Corporate Counsel

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Jeffrey Kennedy

Saving Our Small Businesses – Considerations for Lenders upon the Default or Bankruptcy of a Paycheck Protection Program Borrower

With the goal of providing financial relief to companies impacted by the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) amended the Small Business Act to allow the Small Business…more

Borrowers, CARES Act, Commercial Bankruptcy, Coronavirus/COVID-19, Lenders

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Andrea Verney Kerstein

Dobbs and the Future of Health Plan ‎Abortion Coverage

The Supreme Court’s June 24 ruling in Dobbs v. Jackson Women’s Health eliminating the constitutional right to an abortion, and leaving states to regulate or restrict the procedure, has created a complex and tangled web of…more

Abortion, Dobbs v. Jackson Women’s Health Organization, Employee Benefits, Employer Group Health Plans, Health Insurance

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Susan Kidwell

The Texas Supreme ‎Court Grapples ‎With Standard for Recovering ‎and Reviewing Noneconomic ‎Damages

The Texas Supreme Court recently discussed the standard for recovering and reviewing noneconomic damages in a wrongful-death case. Gregory v. Chohan, No. 21-0017, 2023 WL 4035886 (Tex. June 16, 2023)‎. The court of appeals had…more

Damages, Non-Economic Damages, Wrongful Death

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Michael Kind

CARES Act Guide: Overview of Key Reorganization Provisions and Bankruptcy Code Amendments

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act or the “CARES Act”, into law. The CARES Act will provide significant financial relief to individuals and small businesses,…more

Bankruptcy Code, CARES Act, Chapter 11, Coronavirus/COVID-19, Reorganizations

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Brad Knapp

Riding the Regulatory Wave: BOEM ‎Issues New Rules for Surfing the ‎Provision of Financial ‎Assurance

The regulatory seascape for financial assurance related to offshore oil and gas production and decommissioning in federal waters has come in waves over the past decade, and like waves, the regulations often build momentum only…more

BOEM, Energy Sector, Offshore Lease, Oil & Gas

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Thomas Knight

FERC Takes Major Action On Tax Matters

On March 15, 2018, the Federal Energy Regulatory Commission (FERC) issued several far-reaching items related to the tax allowance that is permitted to be included in the jurisdictional rates of natural gas pipelines, oil…more

FERC, Master Limited Partnerships, Natural Gas Act, Pipelines, Tax Cuts and Jobs Act

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Melina Kountouris

The CCPA’s 12-Month Look Back Period May Extend Beyond That

The California Consumer Privacy Act (“CCPA”) provides consumers various rights regarding their personal information including the right to know what personal information a business has collected about the consumer and the right…more

California Consumer Privacy Act (CCPA), Consumer Privacy Rights, Cybersecurity, Data Privacy, Data Protection

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Lindsey Kress

Spoliation: When the Duty to Preserve Data Outweighs the Obligation to Delete

Implementing and enforcing appropriate legal holds is essential to preventing the destruction of data related to current or anticipated litigation and avoiding inadvertent spoliation claims. Depending on the nature of the…more

Destruction of Evidence, Discovery, Duty to Preserve, Sanctions, Spoliation

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Omer Kuebel III

Riding the Regulatory Wave: BOEM ‎Issues New Rules for Surfing the ‎Provision of Financial ‎Assurance

The regulatory seascape for financial assurance related to offshore oil and gas production and decommissioning in federal waters has come in waves over the past decade, and like waves, the regulations often build momentum only…more

BOEM, Energy Sector, Offshore Lease, Oil & Gas

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David Kupetz

Too Much of a Good Thing: Congress Allows Increased Subchapter 5 Eligibility Level to Expire

Over the past few years, one of the universally celebrated success stories in the bankruptcy and restructuring world has been Subchapter V of the Bankruptcy Code. Created by the Small Business Reorganization Act of 2019 (the…more

Bankruptcy Code, CARES Act, Chapter 11, Commercial Bankruptcy, Coronavirus/COVID-19

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Daryl Lapp

Student Privacy Concerns When Educational Institutions Outsource: The FERPA "School Official" Regulations

Schools, colleges and universities often will outsource to third parties any number of functions or services, such as the operation of campus bookstores and dining facilities, campus security, management of campus parking,…more

Educational Institutions, FERPA, Personally Identifiable Information, Student Privacy, Student Records

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Eric Larson

IRS Issues Carried Interest Guidance

On July 31, 2020, the Internal Revenue Service and the U.S. Treasury Department issued Proposed Treasury Regulations (the “Proposed Regs”) providing guidance under the “carried interest” rules of Section 1061 of the Internal…more

Capital Gains, Income Taxes, Internal Revenue Code (IRC), IRS

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Ryan Last

OFAC Issues General Licenses, Updates FAQ, and Issues New Blocking Rule and Reminder to File Annual Blocked Property Report

On September 5, 2024, the Department of the Treasury's Office of Foreign Assets Control (“OFAC”) released General License (“GL”) 108 (“Authorizing Limited Safety and Environmental Transactions Involving Certain Blocked Persons…more

Blocked Person, Economic Sanctions, Foreign Policy, Foreign Relations, General Licenses

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Zachary Lerner

A Deep Dive Into the Diligent Effort (Search) Requirement

The excess and surplus lines insurance market is a rapidly-growing avenue for the placement of insurance policies in the United States. Many alien (non-U.S.) insurance carriers write surplus lines insurance coverage via…more

Excess Policies, Insurance Brokers, Insurance Industry, NAIC, Policy Terms

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Taylor Levesque

Antitrust and Artificial Intelligence: ‎The FTC Identifies Competition Concerns in Generative AI ‎Markets

On June 29, 2023, the Federal Trade Commission’s Bureau of Competition and Office of Technology published a blog identifying key segments in the artificial intelligence (AI) space where competition concerns may arise. For…more

Algorithms, Antitrust Violations, Artificial Intelligence, Competition, Corporate Counsel

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Alan Levin

Navigating the Impact of the New Fiduciary Rule on Insurers and Producers

On April 23, 2024, the U.S. Department of Labor (the “DoL”) released its final rule (“Fiduciary Rule”) titled Retirement Security Rule: Definition of an Investment Advice Fiduciary (an “Investment Advice Fiduciary”), which will…more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Fiduciary Rule

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Zhibin Li

Federal Circuit Held Vanda’s Method of Treatment Claims Are “Application of Nature Law”—While Chief Judge Prost Dissented

On April 13, 2018, in a split decision, the Federal Circuit held that Vanda Pharmaceuticals Inc.’s method of treatment claims are directed to patent-eligible subject matter under step one of the Mayo two-step test. Vanda Pharm…more

Patent Infringement, Patent Litigation, Patent-Eligible Subject Matter, Patents, Pharmaceutical Patents

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Bart Lieben

New Mechanism for Cross-Border Data Transfer: The EU-U.S. Data Privacy Framework

On June 10, 2023 the European Commission (the “Commission”) issued an adequacy decision on the new EU-U.S. Data Privacy Framework (the “DPF”). The decision restored free transfer of data between the EU and U.S. after three years…more

Court of Justice of the European Union (CJEU), Cybersecurity, Data Privacy, Data Protection, Data Security

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Jennifer Lisi

Rhode Island Implements Non-Liquidating Receivership Program to Assist Businesses Impacted by COVID-19

On March 31, 2020, the Rhode Island Superior Court announced a temporary program to aid previously healthy businesses that have become insolvent due to the COVID-19 pandemic in Rhode Island. The COVID-19 Non-Liquidating…more

Coronavirus/COVID-19, Insolvency, Receivership

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Sara Longtain

Return to Work Considerations

As government officials debate the timeline and criteria for reopening the country, employers are beginning to consider a return to some version of normalcy. After weeks of sheltering in place and teleworking, the prospect of…more

Coronavirus/COVID-19, Employer Liability Issues, Employer Responsibilities, Re-Opening Guidelines, Risk Assessment

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Thomas Loose

Texas Supreme Court Holds Financial ‎Institutions May Be Served Only Through Their Registered ‎‎Agent

In an attempt to invalidate mortgage liens without affording lienholders due process, borrowers (and purchasers of real estate subject to a mortgage lien) sometimes pursue quiet title actions premised upon suspect attempts to…more

Banking Sector, Financial Institutions, Liens, Mortgages

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Elizabeth Mack

Supreme Court Limits the Scope of ‎‎“Waters of the ‎U.S.”‎: What Developers Need to Know‎

The definition of the term “waters of the United States” (“WOTUS”) in the Clean Water Act (“CWA”), and the resulting scope of the jurisdiction of the U.S. Environmental Protection Agency (“EPA”) and U.S. Army Corps of Engineers…more

Clean Water Act, Environmental Protection Agency (EPA), Navigable Waters, Sackett, Sackett v EPA

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Ummehani Majeed

There Is a Big Difference Between ‎‎“Void” and “Voidable”‎

In the iconic “The Princess Bride,” Miracle Max observes that there is a big difference between “all dead” and “mostly dead” and then goes on to prove it. In Holifield v. XRI Investment LLC, 2023 WL 5761367 (Del. Supr. Sept. 7,…more

Breach of Contract, Limited Liability Company (LLC), LLC Agreements, Void Contracts

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Michael Malfettone

Locke Lord Deep Dive: Treasury Issues Final Regulations Providing Guidance on Transfer of Certain Credits Under the Inflation Reduction Act

On April 30, 2024, the Internal Revenue Service (“IRS”) and the U.S. Treasury Department (“Treasury”) published Final Treasury Regulations (T.D. 9993) (the “Final Regulations”) providing guidance relating to the election under…more

Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits, IRS

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Louis Manetti, Jr.

Legal Challenges to Small-Business ‎Data Collection Rule Dwindle as Texas Court Sides With CFPB

On August 26, 2024, a federal district court for the Southern District of Texas granted summary judgment in the Consumer Financial Protection Bureau’s favor and rejected a challenge to the CFPB’s Final Rule regarding section…more

Consumer Financial Protection Bureau (CFPB), Data Collection, ECOA, Final Rules, Financial Services Industry

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Richard Manley Jr.

Changes to the Application of Bond and ‎Note Premium Under Massachusetts Law

The law governing the use of bond and note premium received by Massachusetts municipalities and ‎districts, Section 20 of Chapter 44 of the Massachusetts General Laws, was recently amended. Any ‎premium received upon the sale of…more

Bonds, Borrowers, Municipalities, Public Finance

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Michael Mannion

Illinois Adopts Substantial Workers' Compensation Reform to Address COVID-19

Through a virtually unanimous vote in the General Assembly, Illinois adopted substantial changes in its Workers’ Compensation and Occupational Diseases statutes to address the COVID-19 pandemic. Recognizing that many workers…more

Coronavirus/COVID-19, General Assembly, State Labor Laws, Workers Compensation Reform

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Christopher Martin

Texas Supreme Court Reverses Stop Loss Insurance Categorization Premium Tax Ruling

On June 17, 2022, the Texas Supreme Court released an opinion in Hegar v. Health Care Serv. Corp. (No. 21-0080) (Jun 17, 2022) regarding whether the Comptroller properly taxed an insurer based on premiums it received from sales…more

Health Insurance, Insurance Code, Insurance Industry, Policy Terms, TX Supreme Court

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Noah Mason

Following the Trail of Lost or Destroyed ESI with Forensic Imaging

When there is potentially crucial evidence on a computer or device once controlled by the opposing party, an ex-employee plaintiff, or someone suspected to have stolen trade secrets we want to track it down as soon as possible…more

Cyberforensics, Data Preservation, Discovery, e-Discovery Professionals, Electronically Stored Information

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Stephanie Massey

Implementing Compliance with Amendments to Rule 15c2-12

We recently reported the SEC’s adoption of amendments to Rule 15c2-12 to add two new events to those now required to be reported. Those two events are: - Incurrence of a financial obligation of the issuer or obligated person,…more

Amended Rules, Disclosure Requirements, Financial Obligations, Municipal Securities Issuers, Rule 15c2-12

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Christine Dreyer McCay

Main Street Lending Program – Federal Reserve Announces Expanded Access for Some Businesses While Affiliation Rules Restrict Access for Others

On June 8, 2020, the Federal Reserve announced that it is expanding the Main Street Lending Program (the “Program”) to allow more businesses to participate and to provide greater flexibility to borrowers in repaying loans under…more

Main Street Lending Programs, Main Street New Loan Facility, Main Street Priority Loan Facility, Special Purpose Vehicles

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Regina McClendon

New Year, New Discovery Rules: ‎California Amends Its Civil Discovery Act

California has enacted changes to its Civil Discovery Act so that discovery procedures in California state court are now more closely aligned with the federal court system’s initial disclosure requirements. California also…more

Disclosure Requirements, Discovery, Discovery Disputes, Document Productions

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Amanda McCloskey

High Court Update: Recent US Supreme Court Rulings Employers Should Know About

Thus far, 2024 has been a whirlwind of new employment rules, statutes, guidance, and decisions for employers to grapple with and account for in their businesses. Among these decisions are a handful of rulings from the Supreme…more

Adverse Employment Action, Civil Rights Act, Employee Transfers, Employer Liability Issues, Employment Litigation

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Jennifer McCoy

OSHA Issues Coronavirus-Related Citations

As we all continue to adjust to the “new normal” brought on by COVID-19, employers across the country are recovering from the whiplash caused by the (at times contradictory) rules and regulations federal, state, and local…more

Coronavirus/COVID-19, Employer Liability Issues, Infectious Diseases, Occupational Exposure, OSHA

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Eugene McDermott Jr.

Public Company Option Grants in 2024

Public companies planning to grant stock options, SARs or similar option-like instruments to executive officers in 2024 should consider whether to avoid the windows in which a new disclosure requirement under SEC rules applies…more

Disclosure Requirements, Form 10-K, Publicly-Traded Companies, Regulation S-K, Securities and Exchange Commission (SEC)

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Brenda McDonough

Changes to the Application of Bond and ‎Note Premium Under Massachusetts Law

The law governing the use of bond and note premium received by Massachusetts municipalities and ‎districts, Section 20 of Chapter 44 of the Massachusetts General Laws, was recently amended. Any ‎premium received upon the sale of…more

Bonds, Borrowers, Municipalities, Public Finance

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Lorne McDougall

CARES Act Loans and SPE Borrowers

SPE borrowers should carefully review their existing loan documents when considering loans under the CARES Act to relieve liquidity pressures. Existing loans may contain SPE covenants or other provisions that limit additional…more

CARES Act, Coronavirus/COVID-19, Economic Injury Disaster Loans, Relief Measures

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Moya McKenna

Texas Reduces Surplus Lines Stamping Fee

The Texas Department Insurance (“TDI”) Commissioner Cassie Brown issued an order decreasing the surplus lines stamping fee from .075% to .04% of gross premium resulting from surplus lines insurance contracts. The decrease will…more

Department of Insurance, Insurance Commissioners, Insurance Industry, Surplus Lines Insurance

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John McKnight

How Public Companies Can Prepare For The Executive Compensation Clawback Regime

Many public companies have not waited for the Securities Exchange Commission (SEC) to mandate executive compensation recovery policies, as required by the Dodd-Frank Act. Shareholder and peer pressure has resulted in the…more

Board of Directors, Clawbacks, Derivative Suit, Dodd-Frank, Executive Compensation

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Michael McMorrow

Cybersecurity Safe Harbors – One Step Forward and Two Steps Back

Cyberattacks continue to increase in number and severity. This increase has amplified the need for legislation to protect both businesses and consumers. In previous articles, we discussed the few states that enacted “safe…more

Cyber Attacks, Cybersecurity, Gross Negligence, Popular, Safe Harbors

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Jeffrey McPhaul

High Court Update: Recent US Supreme Court Rulings Employers Should Know About

Thus far, 2024 has been a whirlwind of new employment rules, statutes, guidance, and decisions for employers to grapple with and account for in their businesses. Among these decisions are a handful of rulings from the Supreme…more

Adverse Employment Action, Civil Rights Act, Employee Transfers, Employer Liability Issues, Employment Litigation

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Michael Meidinger

Changes to the Application of Bond and ‎Note Premium Under Massachusetts Law

The law governing the use of bond and note premium received by Massachusetts municipalities and ‎districts, Section 20 of Chapter 44 of the Massachusetts General Laws, was recently amended. Any ‎premium received upon the sale of…more

Bonds, Borrowers, Municipalities, Public Finance

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Jennifer Capasso Mendonca

Help for Main Street: Treasury Department and Federal Reserve Announce Main Street Lending Facilities for Small and Mid-Sized Businesses (including Nonprofits)

On April 9, 2020, the Federal Reserve and the Secretary of the Treasury announced, pursuant to Title IV of the Coronavirus Aid, Relief, and Economic Security Act, or “CARES Act” and Section 13(3) of the Federal Reserve Act, the…more

CARES Act, Coronavirus/COVID-19, Federal Reserve, Relief Measures, U.S. Treasury

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Kiprian Mendrygal

DOJ Issues Formal Guidance on Credit for Cooperation in False Claims Act Investigations

On May 7, 2019, the Department of Justice announced the release of formal guidance on how it will credit defendants that cooperate with False Claims Act investigations. The guidance, which takes the form of an update to the…more

Cooperation, Department of Justice (DOJ), False Claims Act (FCA), Government Investigations, Internal Investigations

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Yeva Mikaelyan

New Form I-9 Required Starting November 1, 2023‎

On August 1, 2023, United States Citizenship and Immigration Services (“USCIS”) released a new Form I-9 that employers must use to verify the identity and employment authorization of their employees. The new form recognizes the…more

Department of Homeland Security (DHS), Employer Liability Issues, Employment Eligibility Verification, Foreign Workers, Form I-9

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Janet Militello

[Webinar] Locke Lord’s High Noon Knowledge Series Webinar – Commercial Contract Pitfalls - June 4th, 12:00 pm - 1:00 pm CT

Agenda: - Common issues in transactional contracts that open up opportunities for litigation - How aggressive companies are taking deal money back…more

Breach of Contract, Commercial Contracts, Contract Disputes, Contract Negotiations, Contract Termination

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Amy Lange Miller

The Party Seeking IPR Estoppel Bears ‎the Burden to Prove Non-Petitioned Invalidity Grounds ‎‎Reasonably Could Have Been Raised

In the April 3, 2023 decision in Ironburg Inventions Ltd. v. Valve Corporation, 21-2296, Doc. 66, the Federal Circuit provides crucial guidance regarding inter partes review (IPR) estoppel under 35 U.S.C. § 315(e)(2). In clear…more

Estoppel, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation, Patent Trial and Appeal Board

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Richard Miller

SEC Provides Disclosure Guidance on Public Statements by Municipal Issuers

On February 7, 2020, the Securities and Exchange Commission’s Office of Municipal Securities issued Staff Legal Bulletin No. 21 (OMS) (“SLB 21”) to provide its views on the application of the antifraud provisions to public…more

Disclosure Requirements, Investors, Municipal Securities Issuers, Securities and Exchange Commission (SEC)

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Brandan Montminy

Developments in Energy Pipeline ‎Security: TSA Directives, and Recommendations for Owners ‎‎and Operators

In the wake of the disruptive ransomware attack on the Colonial Pipeline in early May 2021, the U.S. Transportation Security Administration (“TSA”) issued two security directives to the pipeline industry. The first, Security…more

Cybersecurity, Cybersecurity Information Sharing Act (CISA), Pipelines, Popular, Transportation Security Administration

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Kathrine Morin

Relief for State and Local Governments Impacted by COVID-19‎

On March 11, 2021, President Biden signed into law the $1.9 trillion COVID-19 relief package, the American Rescue Plan Act of 2021, Pub. L. No. 117-2 (the “ARPA”). ARPA includes $350 billion in aid for ‎state and local…more

American Rescue Plan Act of 2021, Coronavirus/COVID-19, Interim Final Rules (IFR), Relief Measures, State and Local Government

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Robert Mowrey

Texas Supreme Court Affirms a Lender’s Equitable Subrogation Rights Following ‎Expiration of the Statute of Limitations on the Lender’s Lien

On January 29, 2021, the Texas Supreme Court confirmed that the voiding of a lender’s lien due ‎to the expiration of the statute of limitations does not preclude the lender from foreclosing on a ‎pre-existing lien under the…more

Borrowers, Equitable Subrogation, Lenders, Mortgages, Statute of Limitations

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Jeremy Murphy

This Will Not Make You Blush. States ‎Are ‎Making Regulation of Cosmetics a Priority

Cosmetics Regulation - Currently, cosmetics are regulated through the Federal Food, Drug, and Cosmetic Act (FDCA)– ‎which has recently been revamped by the Modernization of Cosmetics Regulation Act (MoCRA)–and ‎various state…more

Chemicals, Cosmetics, Food and Drug Administration (FDA), Modernization of Cosmetics Regulation Act of 2022 (MoCRA), Personal Care Products

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Stephen Murphy

Recent Presidential Order Unwinding ‎Real Estate Transaction Reinforces CFIUS’ Heightened ‎‎Enforcement Regime

On May 13, 2024, President Biden issued an order (the “Order”) prohibiting the purchase and requiring the divestment of certain real estate operated as a cryptocurrency mining facility located within one mile of Francis E…more

CFIUS, Foreign Acquisitions, Foreign Investment, National Security

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Warren Myers

Massachusetts Makes “Virtual Meeting” ‎Relief Permanent

We previously issued a QuickStudy reporting that the Massachusetts legislature had extended to March 31, 2023 the COVID-19 pandemic relief that allowed Massachusetts public companies and Massachusetts non-profit corporations to…more

Coronavirus/COVID-19, Corporate Governance, Shareholder Meetings, Shareholders, Virtual Meetings

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Judy Naamat

U.S. Patent Office Provides Guidance ‎for Patenting Artificial Intelligence Inventions

Introduction - On July 17, 2024, the U.S. Patent and Trademark Office (USPTO) released its 2024 guidance update on patent subject matter eligibility, making significant revisions to its prior guidance on subject matter…more

Artificial Intelligence, Intellectual Property Protection, Inventions, Inventors, Patent Applications

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Robert Nail

The Madrid Protocol

The United States is a party to the Madrid Protocol, an international treaty simplifying the process for registering trademarks on an international basis. This treaty allows owners of U.S. trademark registrations and pending…more

Intellectual Property Protection, International Trademark Protection, IP License, Madrid Protocol, Trademark Application

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Paul Nason

OSHA’s Final Walkaround Rule: Welcome, Workplace Visitors!‎

On April 1, 2024, the federal Occupational Safety and Health Administration (“OSHA”) published its long-awaited Final Rule (the “Final Walkaround Rule”), which amends 29 C.F.R. 1903.8(c) – the agency’s regulation that protects…more

Employer Liability Issues, Inspections, OSHA, Safety Inspections, Workplace Hazards

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Aaron Nava

OSHA’s Final Walkaround Rule: Welcome, Workplace Visitors!‎

On April 1, 2024, the federal Occupational Safety and Health Administration (“OSHA”) published its long-awaited Final Rule (the “Final Walkaround Rule”), which amends 29 C.F.R. 1903.8(c) – the agency’s regulation that protects…more

Employer Liability Issues, Inspections, OSHA, Safety Inspections, Workplace Hazards

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Andrew Nelson

Locke Lord Deep Dive: Treasury Issues Final Regulations Providing Guidance on Transfer of Certain Credits Under the Inflation Reduction Act

On April 30, 2024, the Internal Revenue Service (“IRS”) and the U.S. Treasury Department (“Treasury”) published Final Treasury Regulations (T.D. 9993) (the “Final Regulations”) providing guidance relating to the election under…more

Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits, IRS

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John Nelson, Jr.

Locke Lord Deep Dive: Treasury Issues Final Regulations Providing Guidance on Transfer of Certain Credits Under the Inflation Reduction Act

On April 30, 2024, the Internal Revenue Service (“IRS”) and the U.S. Treasury Department (“Treasury”) published Final Treasury Regulations (T.D. 9993) (the “Final Regulations”) providing guidance relating to the election under…more

Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits, IRS

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Michael Newquist

Two Recent Delaware Decisions Provide Practical Transaction Guidance

Two year-end decisions by the Delaware Court of Chancery provide practical guidance for mergers and other transactions, one on the meaning of “commercially reasonable efforts” and other commonly used standards of efforts and the…more

Board of Directors, Corporate Counsel, Merger Agreements, Mergers, Shareholders

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Greg Norton

NAIC Examines Investment Holdings of Private-Equity Owned Insurers

Last month the NAIC Capital Markets Bureau issued a Special Report finding that despite an in increase in the number of private equity (“PE”) owned U.S. insurers, investment volume held by PE-owned insurers declined as of…more

Insurance Industry, NAIC, Private Equity, Private Equity Firms

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Hanna Fister Norvell

Key Employer Updates for 2024/2025 – ‎Part One in This Series: Offer Letters and Job ‎Descriptions

As Q4 approaches, many employers are completing 2024 goals and setting 2025 goals, including updating their key employment policies and agreements to ensure they align with ever-evolving federal, state, and local laws and…more

Employer Liability Issues, Employment Policies, Fair Labor Standards Act (FLSA), Job Descriptions, Restrictive Covenants

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Nicholas O'Conner

BNSF v. Tyrrell: Supreme Court Discourages Forum Shopping by Reaffirming Restrictive Daimler Test for General Jurisdiction

The U.S. Supreme Court in BNSF Railway Co. v. Tyrrell, 2017 WL 2322834 (2017) made it harder for plaintiffs to sue in states where their alleged injury did not occur by reversing the Montana Supreme Court’s attempt to assert…more

BNSF Railway Co v Tyrrell, Bristol-Myers Squibb, DaimlerChrysler v Bauman, Forum Shopping, General Jurisdiction

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Allison O'Neil

Massachusetts Announces Relief for Businesses Hit Hardest by COVID

Massachusetts businesses that have been the hardest hit by the COVD-19 pandemic will be able ‎to apply for up to $75,000 in relief from the Commonwealth beginning at noon on December 31, ‎‎2020.‎ Charlie Baker’s…more

Coronavirus/COVID-19, Governor Baker, Grants, Relief Measures, Small Business

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Stephanie O'Neill Macro

West Virginia Issued Bulletin No. 24-06 RE: Artificial ‎Intelligence

On August 9, 2024, the West Virginia Office of the Insurance Commissioner issued Bulletin 24-06 on Artificial Intelligence Systems (“Bulletin”). The Bulletin is applicable to “all insurers authorized to do business in West…more

Artificial Intelligence, Insurance Industry, Machine Learning, NAIC

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Brian O'Reilly

FHWA Guidance on Implementation of ‎Infrastructure Act Funding ‎Does Not Bode Well for New ‎Capacity Projects

Following the passage of the Infrastructure Investment and Jobs Act (“IIJA”) in November, ‎‎2021, there ‎was a flurry of optimism related to the new funding and how it might help to support ‎various types of ‎projects. What was…more

Federal Funding, Federal Highway Administration, Fixing America’s Surface Transportation Act (FAST Act), Infrastructure, Infrastructure Investment and Jobs Act (IIJA)

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Carmen Olivares

Recent Changes to California’s Anti Non-Competition Laws Take Effect

As we previously noted, California recently expanded its restrictions on non-competes under California Senate Bill No. 699 by rendering void and unenforceable all restrictive covenants that would be void under California law…more

Employer Liability Issues, Employment Contract, Non-Compete Agreements, Restrictive Covenants, State Labor Laws

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Hannah Oswald

Cybersecurity Safe Harbors – One Step Forward and Two Steps Back

Cyberattacks continue to increase in number and severity. This increase has amplified the need for legislation to protect both businesses and consumers. In previous articles, we discussed the few states that enacted “safe…more

Cyber Attacks, Cybersecurity, Gross Negligence, Popular, Safe Harbors

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Chelsea Overhuls

Disappearing Discounts?: IRC 2704 Proposed Regulations Threaten Valuation Discounts for Transfers of Interests in Family-Controlled Entities

Purpose of Section 2704 - Internal Revenue Code Section 2704 was originally passed to restrict certain types of valuation discounts on transfers of ownership interests in family-owned businesses among family members. While…more

Estate Planning, Family Businesses, Internal Revenue Code (IRC), IRC Section 2704, Valuation

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Sean Page

FCA’s Proposals for Reform of UK Listing ‎Regime

On 3 May 2023 the Financial Conduct Authority (FCA) published its consultation paper (CP23/10) setting out a blueprint for significant reforms of the UK listing regime for issuers of shares. The policy proposals are intended to…more

Financial Conduct Authority (FCA), Financial Services Industry, Investors, Shareholders, UK

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Ernesto Rafael Palomo

What Goes Around Comes Around

In 1990, the Second Circuit in Bellefonte Reinsurance Co. v. Aetna Casualty & Surety Co., 903 F.2d ‎‎910 (2d Cir. 1990), affirmed a District Court judgment that reinsurers were not obligated to pay ‎additional sums for defense…more

Indemnity, Insurance Industry, Insurance Litigation, Reinsurance

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Keith Parr

FTC v. Shire ViroPharma

The U.S. Court of Appeals for the Third Circuit affirmed the district court’s dismissal of the FTC’s complaint against Shire ViroPharma, rejecting the FTC’s argument that Section 13(b) of the FTC Act is “satisfied by showing a…more

Administrative Proceedings, Federal Trade Commission (FTC), FTC Act, Generic Drugs, Pharmaceutical Industry

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Neftali Partida

87th Legislature Preparation Guide: Lobbying in Texas under the Cloud of COVID-19

The Texas Legislature is a unique citizen-led body that meets every odd numbered year, for 140 days. There are 31 members of the Senate, who serve four-year terms, and 150 members of the House of Representatives, who serve…more

Best Practices, Client Services, Coronavirus/COVID-19, Lobbying, Lobbyists

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David Patton

Locke Lord QuickStudy: Range Resources Case

On March 6, 2015, the Texas Supreme Court decided a case involving the duties owed to the non-executive holder of a nonparticipating royalty interest by both the executive rights holder and the lessee that negotiated the lease…more

Breach of Duty, Lease Termination, Mineral Leases, Oil & Gas, Pooling Agreement

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Gerald Pels

Get Into the Ring: The Supreme Court’s Loper Bright and Corner Post Rulings Set up Round Upon Round of New Regulatory Challenges

The one-two punch of the U.S. Supreme Court’s rulings in Loper Bright Enterprises v. Raimondo (“Loper Bright”) and Corner Post, Inc. v. Board of Governors of the Federal Reserve System (“Corner Post”) this past week spun…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

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Russell Perdew

Legal Challenges to Small-Business ‎Data Collection Rule Dwindle as Texas Court Sides With CFPB

On August 26, 2024, a federal district court for the Southern District of Texas granted summary judgment in the Consumer Financial Protection Bureau’s favor and rejected a challenge to the CFPB’s Final Rule regarding section…more

Consumer Financial Protection Bureau (CFPB), Data Collection, ECOA, Final Rules, Financial Services Industry

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Christian Perez

Can an Arbitrator Require Arbitration by Videoconference?

In response to the stay-at-home orders issued by various state and local authorities aimed at slowing the spread of COVID-19, all aspects of the economy have been experimenting with various online platforms as a way to keep…more

Arbitration, Arbitrators, Coronavirus/COVID-19, Dispute Resolution, Videoconference

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Joe Perillo

Delaware Court of Chancery Confirms Ability of Stockholders to Assert Third-Party Beneficiary Claims Under Merger Agreements

A common provision in merger agreements is denial of the right of non-parties to the agreement to assert third-party beneficiary claims. The use of this provision left open the question whether stockholders of a disappearing…more

Corporate Counsel, Delaware General Corporation Law, Merger Agreements, Mergers, Third-Party Beneficiaries

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James Peterka

Tax Court Finds Legal Fees Incurred in Defending Hatch-Waxman Lawsuits are ‎Deductible Expenses

On April 27, 2021, the U.S. Tax Court issued its decision in Mylan, Inc. v. Comm’r of Internal Revenue regarding which legal fees that a generic-drug manufacturer incurs in connection with its Abbreviated New Drug Application…more

Abbreviated New Drug Application (ANDA), Generic Drugs, Hatch-Waxman, IRS, Patent Infringement

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Timothy Peterson

Approving New Vaccines in the Time of COVID-19

The full weight of the federal government (and obvious public support) is being brought to bear on the development and approval of a vaccine for COVID-19. But what are the steps involved in that process?…more

Coronavirus/COVID-19, Health and Safety, Infectious Diseases, Life Sciences, Public Health

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Charles Phipps

The Federal Circuit Clarifies the Law of ‎Proper Venue in Patent ‎Cases Involving the Presence of a ‎Purported Agent in a Given ‎Fora

The Court of Appeals for the Federal Circuit has recently clarified the law concerning whether patent ‎venue is proper under agency law, specifically in the context of whether the presence of a franchisee ‎in a given fora is…more

Intellectual Property Protection, Patent Infringement, Patent Litigation, Patents, Venue

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Geoffrey Polma

U.S. Supreme in South Dakota v. Wayfair, Inc. Overturns Longstanding Limitation on States’ Ability to Compel Sales Tax Collection on Internet and Catalogue Sales: What Happens Now?

The United States Supreme Court on June 21, 2018 issued a decision in the closely watched sales tax collection case of South Dakota v. Wayfair Inc., Case Number 17-494. The 5 – 4 decision overturned the cases of National Bellas…more

Appeals, Commerce Clause, Constitutional Challenges, Internet Retailers, Interstate Commerce

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Mitchell Popham

Business Interruption Insurance Coverage Litigation Arising From COVID-19

Opening day might be delayed, but first pitches have already been thrown in courtrooms across the U.S. by insureds seeking business interruption cover for Covid-19 related losses. The judges calling balls and strikes in such…more

Business Interruption, Commercial Insurance Policies, Coronavirus/COVID-19, Infectious Diseases, Insurance Industry

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Brett Pritchard

Tighter SEC Cybersecurity Incident Disclosure ‎Requirements Go into Effect Today

The new SEC cybersecurity rules (Release No. 33-11216), codify and build on earlier SEC guidance on cybersecurity risks and incidents and require specific cybersecurity-related disclosures…more

Cyber Incident Reporting, Cybersecurity, Disclosure Requirements, Form 8-K, Popular

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Glenn Pudelka

Generative AI and Copyright ‎Infringement: Federal Judge in Stability AI Distinguishes ‎‎Between AI Model Creators and Users – For Now

A California federal judge recently issued one of the first substantive generative AI decisions to date. In Anderson, et al., v. Stability AI Ltd. et al., 23-cv-00201-WHO (N.D. Cal. Oct. 30, 2023) (“Stability AI”), Plaintiffs, a…more

Artists, Copyright, Copyright Infringement, Copyright Litigation, Corporate Counsel

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Elizabeth Corey Raber

EPA’s New Particulate Rule: A ‎Particular Issue for Industry

I. Background. On February 7, 2024, EPA issued a final rule lowering the annual health-based air quality standard for fine particulates (pm 2.5) to 9 ug/m3 from 12 ug/m3. The Rule will impact industries and many…more

Air Quality Standards, Environmental Policies, Environmental Protection Agency (EPA), Final Rules, State Implementation Plans (SIPs)

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Terry Radney

[Webinar] Distressed Energy Assets: Market Update and Key Considerations For Acquirers - April 23rd, 12:00 pm - 1:00 pm CT

- Current Climate: Discussion of the current restructuring environment.? - Tactical Considerations: The pros and cons of purchasing through bankruptcy and the differences between jurisdictions.? - Process Questions:…more

Acquisitions, Continuing Legal Education, Debt Restructuring, Distressed Assets, Economic Downturn

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James Rain

Centers for Disease Control Order: Temporary Halt in Residential Evictions to Prevent the Further Spread of COVID-19

Introduction - In an action intended to mitigate the spread of COVID-19 and pursuant to authority under 42 U.S.C. 264? and 42 CFR Section 70.2,? the Centers for Disease Control (“CDC”) published an order (“Order”) on…more

Centers for Disease Control and Prevention (CDC), Coronavirus/COVID-19, Eviction, Landlords, Moratorium

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Susan Rainey

Supreme Court Limits the Scope of ‎‎“Waters of the ‎U.S.”‎: What Developers Need to Know‎

The definition of the term “waters of the United States” (“WOTUS”) in the Clean Water Act (“CWA”), and the resulting scope of the jurisdiction of the U.S. Environmental Protection Agency (“EPA”) and U.S. Army Corps of Engineers…more

Clean Water Act, Environmental Protection Agency (EPA), Navigable Waters, Sackett, Sackett v EPA

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Ed Razim

Short Extension of Clawback Policy Deadline Suggests Listed Companies Will Need to Adopt Policies by early August

On April 24, 2023, the SEC extended, for a short time, the deadline for the effectiveness of stock exchange listing requirements under the Dodd Frank Act that will require listed companies to adopt clawback policies for…more

Clawbacks, Dodd-Frank, Securities and Exchange Commission (SEC), Securities Exchange Act

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Hanna Ciechanowski Redd

Too Much of a Good Thing: Congress Allows Increased Subchapter 5 Eligibility Level to Expire

Over the past few years, one of the universally celebrated success stories in the bankruptcy and restructuring world has been Subchapter V of the Bankruptcy Code. Created by the Small Business Reorganization Act of 2019 (the…more

Bankruptcy Code, CARES Act, Chapter 11, Commercial Bankruptcy, Coronavirus/COVID-19

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Andrew Reed

FTC’s Rule Banning Non-Competes Set Aside: How Did We Get Here and What’s Next?

On August 20, 2024, U.S. District Judge Ada Brown of the Northern District of Texas issued her much-anticipated final decision in Ryan LLC and Chamber of Commerce et al v. Federal Trade Commission, ‎and set aside the FTC’s rule…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

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Richard Reibstein

Independent Contractor Misclassification Lawsuits Involve Record Label Artists, Imam, ‎and Recyclable Sorters: August 2024 IC Legal News Update‎

The legal developments in the area of independent contractor misclassification and compliance last month include cases against a record label company, an Islamic Center, and a waste recycling company. Lawsuits for IC…more

Corporate Counsel, Employee Definition, Employer Liability Issues, Employment Litigation, Independent Contractors

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Michael Renetzky

FUNDamentals: Fifth Circuit Vacates New SEC Private Fund Adviser Rules

On June 5th, 2024, the United States Court of Appeals for the Fifth Circuit (the “Court”) vacated the U.S. Securities and Exchange Commission’s (“SEC’s”) private fund advisers rules (the "Rules"), which would have imposed…more

Investment Adviser, Investment Advisers Act of 1940, Private Funds, Securities and Exchange Commission (SEC), Vacated

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Jon Rewinski

Economic Loss Rule Precludes Negligence Claims in the Southern California Gas Leak Litigation

On December 15, 2017, a California appellate court held in Southern California Gas Co. v. Superior Court, No. B283606, 2017 WL 6398546 (Cal. Ct. App. Dec. 15, 2017), that Southern California Gas Company (“SoCalGas”) did not owe…more

Class Action, Economic Loss Doctrine, Negligence, Oil & Gas

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Ann Ryan Robertson

ICDR Publishes Guidelines on the Use ‎of Arbitral Tribunal ‎Secretaries

Over the past few years, the use and role of tribunal secretaries in international arbitration has garnered considerable interest. In its 2021 International Arbitration Rules (“Rules”), the International Centre for Dispute…more

Arbitration, Dispute Resolution, ICDR, International Arbitration

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Jack Robinson

Supreme Court Resolves Circuit Split ‎and Decides CFPB's Funding Structure Is Constitutional

On May 16, 2024, the U.S. Supreme Court resolved the Circuit Split discussed in our prior QuickStudy and ruled in a 7-2 decision that the Consumer Financial Protection Bureau’s (“CFPB”) funding structure does not violate the…more

Constitutional Challenges, Consumer Financial Protection Bureau (CFPB), Consumer Financial Protection Bureau v Community Financial Services Association of America Ltd, Federal Funding, Financial Services Industry

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Michael Rose

Pay Bump: The Department of Labor Releases Final Rule Increasing Minimum Salary ‎Threshold for White Collar Exemptions

In a development somewhat overshadowed by the release of the more-publicized Federal Trade Commission’s recent non-compete-ban, the DOL’s final overtime rule, Defining and Delimiting the Exemptions for Executive, Administrative,…more

Department of Labor (DOL), Exempt-Employees, Fair Labor Standards Act (FLSA), Final Rules, Highly Compensated Employees

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Sarah Rous

IRS Extends Relief Allowing Remote Witnessing Procedures for Certain Retirement Plan Elections

As the COVID-19 pandemic drags on, administrators of defined benefit pension plans continue to field questions about the notary requirement related to certain participant and spousal elections. For qualified retirement plans…more

Employee Benefits, IRS, Notarization, Relief Measures, Remote Notarization

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David Ruediger

In Desperate Times . . . . Travelport Puts $1.15 Billion in Collateral Value beyond the Reach of its Creditors

As we have discussed in previous QuickStudies, certain borrowers in industries experiencing particularly adverse economic conditions have taken advantage of flexible terms in their credit agreements to transfer valuable…more

Borrowers, Collateral, Creditors, EBITDA, Popular

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David Rutan

California Employers Rejoice: California Overhauls Private Attorneys General Act (PAGA) With Support From Business and Labor Leaders

On July 1, 2024, Governor Gavin Newsom signed AB 2288 and SB 92, which reformed the Private Attorneys General Act (“PAGA”). PAGA permits an employee who encountered a Labor Code violation to sue an employer for civil penalties…more

Governor Newsom, Labor & Workforce Development Agency (LWDA), Labor Law Violations, Private Attorneys General Act (PAGA)

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Jorden Rutledge

Generative AI and Copyright ‎Infringement: Federal Judge in Stability AI Distinguishes ‎‎Between AI Model Creators and Users – For Now

A California federal judge recently issued one of the first substantive generative AI decisions to date. In Anderson, et al., v. Stability AI Ltd. et al., 23-cv-00201-WHO (N.D. Cal. Oct. 30, 2023) (“Stability AI”), Plaintiffs, a…more

Artists, Copyright, Copyright Infringement, Copyright Litigation, Corporate Counsel

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Jonevin Sabado

California Employers Rejoice: California Overhauls Private Attorneys General Act (PAGA) With Support From Business and Labor Leaders

On July 1, 2024, Governor Gavin Newsom signed AB 2288 and SB 92, which reformed the Private Attorneys General Act (“PAGA”). PAGA permits an employee who encountered a Labor Code violation to sue an employer for civil penalties…more

Governor Newsom, Labor & Workforce Development Agency (LWDA), Labor Law Violations, Private Attorneys General Act (PAGA)

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Buddy Sanders

Locke Lord Deep Dive: Treasury Issues Final Regulations Providing Guidance on Transfer of Certain Credits Under the Inflation Reduction Act

On April 30, 2024, the Internal Revenue Service (“IRS”) and the U.S. Treasury Department (“Treasury”) published Final Treasury Regulations (T.D. 9993) (the “Final Regulations”) providing guidance relating to the election under…more

Energy Projects, Energy Sector, Inflation Reduction Act (IRA), Investment Tax Credits, IRS

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Emily Larrimer Savas

The Supreme Court’s ‎Decision on ‎Enablement in Amgen v. Sanofi

Justice Gorsuch authored a unanimous opinion arching back to precedent from the 1800s and upholding the Federal ‎Circuit’s and district court’s determinations that Amgen’s patent claims are invalid for lack of ‎enablement.‎ The…more

Amgen, Patent Litigation, Patents, Pharmaceutical Industry, Pharmaceutical Patents

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Carl Scherz

Eleventh Circuit Affirms Dismissal of ‎Cost-of-Insurance Rate Class Action ‎Against Wilco Life ‎Insurance Company

On November 15, 2021, the U.S. Court of Appeals for the Eleventh Circuit ‎affirmed dismissal of a ‎putative cost-of-insurance (“COI”) rate class action in ‎Anderson v. Wilco Life Insurance Company ‎‎— a victory for life insurers…more

Class Action, Insurance Industry, Insurance Litigation, Policy Exclusions, Policy Terms

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Bella Seeberg

Supreme Court Reinvigorates Forum ‎Shopping in Mallory v. Norfolk Southern Railway Co.‎

On June 27, 2023, the Supreme Court in Mallory v. Norfolk Southern Railway Co., 600 U.S. ___ (2023) substantially broadened (at least temporarily) the bases for general personal jurisdiction over out-of-state corporations in…more

Constitutional Challenges, Mallory v Norfolk Southern Railway Co, Out-of-State Companies, Personal Jurisdiction, SCOTUS

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Tyler Self

Get Into the Ring: The Supreme Court’s Loper Bright and Corner Post Rulings Set up Round Upon Round of New Regulatory Challenges

The one-two punch of the U.S. Supreme Court’s rulings in Loper Bright Enterprises v. Raimondo (“Loper Bright”) and Corner Post, Inc. v. Board of Governors of the Federal Reserve System (“Corner Post”) this past week spun…more

Administrative Procedure Act, Chevron Deference, Chevron v NRDC, Government Agencies, Judicial Authority

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Robin Shaughnessy

Employees ‘Speak Out!’: How the Speak Out Act Will Affect Employee Non-Disclosure Agreements

In early 2022, President Joe Biden signed the Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act. Inspired by the #MeToo movement, the law banned compulsory, pre-dispute arbitration clauses in cases involving…more

Employer Liability Issues, Non-Disclosure Agreement, Non-Disparagement Provisions, Settlement Agreements, Sexual Assault

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Anthony Sherman

CMS Issues Final Quota Share Reinsurance Rule

As we reported in our QuickStudy on February 13, 2020, CMS filed and made available for public inspection on February 5, 2020, a new proposed rule (the “Proposed Reinsurance Rule”) under the authority of Section 1855(b)(1) of…more

Centers for Medicare & Medicaid Services (CMS), Medicare Advantage, Medicare Advantage Organizations (MAOs), Proposed Rules, Reinsurance

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Joshua Skundberg

Permanent Changes for Temporary Employees: Illinois Expands Protections for Temporary Employees ‎and Implements Stricter Compliance Requirements for Temporary Agencies and Employers

Amendments to the Illinois Day and Temporary Labor Services Act (the “Act”) became effective on August 4, 2023. These amendments pose serious challenges for the way temporary labor service agencies (“Temp Agencies”) and…more

Employer Liability Issues, Staffing Agencies, State Labor Departments, State Labor Laws, Temporary Employees

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Aaron Smith

Unexpected Rescue: Observations on ‎the Silicon Valley Bank Closure and Ongoing Market Disruptions

Over the past several days, Locke Lord LLP has closely followed the closures of Silicon Valley Bank ‎in Santa Clara, California (“SVB”) and New York based Signature Bank, as well as the ensuing ‎volatility experienced by many…more

Banking Sector, Banks, Deposit Accounts, Deposit Insurance, FDIC

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Leigh Smith

Kicking Around the Post-Sale Confusion Doctrine in English and US Courts

Leigh Smith and H. Straat Tenney of Locke Lord provide a comparative analysis of the handling of pre- and post-sale confusion of trademarked goods by jurisdiction to draw interesting conclusions for corporations to consider when…more

Intellectual Property Protection, Likelihood of Confusion, Trademark Infringement, Trademark Litigation, Trademarks

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Rowe Snider

Eliminating McCarran-Ferguson Immunity for Health Insurers - Higher Prices and ‎Compliance Burdens

For decades, politicians of both stripes routinely promised that they would do something about the relentless rise in health insurance costs by repealing the McCarran-Ferguson Act. Now that Congress passed and former President…more

Anti-Competitive, Antitrust Immunity, Health Insurance, McCarran-Ferguson Act

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Daniel Solitro

FTC Takes Action Against Social ‎Media Posts for Failure to Disclose Material ‎Connections

On November 15, 2023, the FTC announced that it had issued fourteen Warning Letters ‎to the two trade associations, the American Beverage Association (AmeriBev) and the Canadian ‎Sugar Institute (“the Associations”), as well as…more

Disclosure Requirements, Endorsements, Failure To Disclose, Federal Trade Commission (FTC), FTC Endorsement Guidelines

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Stephanie Sprague

Expansive New Massachusetts Law Upends Process for Residential Evictions and Foreclosures in Wake of COVID-19, Effectively Alters Terms of Mortgages

Massachusetts has passed an expansive law aimed at protecting tenants and homeowners during the COVID-19 emergency – “An Act Providing For A Moratorium On Evictions And Foreclosures During The COVID-19 Emergency” (“Act”). The…more

Coronavirus/COVID-19, Eviction, Foreclosure, Moratorium, Mortgages

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Walter St. Onge III

Relief for State and Local Governments Impacted by COVID-19‎

On March 11, 2021, President Biden signed into law the $1.9 trillion COVID-19 relief package, the American Rescue Plan Act of 2021, Pub. L. No. 117-2 (the “ARPA”). ARPA includes $350 billion in aid for ‎state and local…more

American Rescue Plan Act of 2021, Coronavirus/COVID-19, Interim Final Rules (IFR), Relief Measures, State and Local Government

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Robb Stewart

CARES Act: How Does It Affect Multifamily Owners and Borrowers?

On March 27, 2020, the President signed into law the $2 trillion Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which is aimed at helping individuals and businesses that have been affected by the 2020…more

Borrowers, CARES Act, Coronavirus/COVID-19, Forbearance Agreements, Relief Measures

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Molly McGinnis Stine

Tighter SEC Cybersecurity Incident Disclosure ‎Requirements Go into Effect Today

The new SEC cybersecurity rules (Release No. 33-11216), codify and build on earlier SEC guidance on cybersecurity risks and incidents and require specific cybersecurity-related disclosures…more

Cyber Incident Reporting, Cybersecurity, Disclosure Requirements, Form 8-K, Popular

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Steve Stojic

FERC Takes Major Action On Tax Matters

On March 15, 2018, the Federal Energy Regulatory Commission (FERC) issued several far-reaching items related to the tax allowance that is permitted to be included in the jurisdictional rates of natural gas pipelines, oil…more

FERC, Master Limited Partnerships, Natural Gas Act, Pipelines, Tax Cuts and Jobs Act

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Heather Stone

FUNDamentals: Fifth Circuit Vacates New SEC Private Fund Adviser Rules

On June 5th, 2024, the United States Court of Appeals for the Fifth Circuit (the “Court”) vacated the U.S. Securities and Exchange Commission’s (“SEC’s”) private fund advisers rules (the "Rules"), which would have imposed…more

Investment Adviser, Investment Advisers Act of 1940, Private Funds, Securities and Exchange Commission (SEC), Vacated

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Kenneth Suh

CISA’s Proposed Cyber Incident Reporting Rules Under CIRCIA

On April 4, 2024, the United States Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (“CISA”) released for public comment its long-awaited proposed rules to implement the Cyber Incident…more

Critical Infrastructure Sectors, Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA), Cybersecurity, Data Security, Homeland Security Cybersecurity & Infrastructure Security Agency (CISA)

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Kathleen Swan

Main Street Lending Program – Federal Reserve Announces Expanded Access for Some Businesses While Affiliation Rules Restrict Access for Others

On June 8, 2020, the Federal Reserve announced that it is expanding the Main Street Lending Program (the “Program”) to allow more businesses to participate and to provide greater flexibility to borrowers in repaying loans under…more

Main Street Lending Programs, Main Street New Loan Facility, Main Street Priority Loan Facility, Special Purpose Vehicles

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Bill Swanstrom

Part II: Secondary Transactions Provide Welcome Flexibility to Both Fund Managers and Investors in Energy Sector Private Equity Funds, but They Must be Structured and Timed to Avoid Tax Pitfalls.

This is Part II of Locke Lord’s two-part series on Secondary Transactions. Part I discussed traditional Investor-led Secondary Transactions. This Part II discusses the increasingly dynamic area of Manager-led Secondary…more

Energy Sector, Fund Managers, Investors, Private Equity, Private Equity Funds

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Benjamin Sykes

COVID-19 Weekly Insurance Regulatory Updates To Keep You Informed During The Lockdown (October 26-30, 2020)

In conjunction with the Locke Lord COVID-19 task force, we are reviewing, analyzing, and compiling regulatory updates to provide clients easy access to information during this unprecedented time. If you have any questions on…more

Casualty Insurance, Coronavirus/COVID-19, Department of Insurance, Insurance Industry, Property Insurance

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David Szabo

Interoperability and Information ‎Blocking:‎ Impact on Providers and Health Information ‎Networks

Information blocking is an emerging area of law that has important implications for health care providers and health information networks. The law of information blocking originated with the 21st Century Cures Act (the “Act”) in…more

Data Privacy, Health Care Providers, OIG, Physicians

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Krystle Guillory Tadesse

The Massachusetts Supreme Judicial Court Ends Confusion on Right to Reinstate Prior to Foreclosure

On November 25, 2020, the Supreme Judicial Court of Massachusetts (“SJC”) issued a decision in Thompson v. JPMorgan Chase Bank, N.A., SJC-12798, ___ Mass ___ (2020), holding that state law overrides the requirement in the…more

Acceleration, Borrowers, Default, Foreclosure, Mortgages

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David Taylor

Pay Ratio is a Go!: The Commission and the Division of Corporation Finance Provide Guidance and Updated C&DIs

On September 21, 2017, both the Securities and Exchange Commission (the “Commission”) and its Division of Corporation Finance (“Corp Fin”) provided guidance on the pay ratio disclosure requirement mandated by the Dodd-Frank Act,…more

C&DIs, Corp Fin, Disclosure Requirements, Dodd-Frank, Executive Compensation

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Straat Tenney

Kicking Around the Post-Sale Confusion Doctrine in English and US Courts

Leigh Smith and H. Straat Tenney of Locke Lord provide a comparative analysis of the handling of pre- and post-sale confusion of trademarked goods by jurisdiction to draw interesting conclusions for corporations to consider when…more

Intellectual Property Protection, Likelihood of Confusion, Trademark Infringement, Trademark Litigation, Trademarks

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George Ticknor

In Desperate Times . . . . Travelport Puts $1.15 Billion in Collateral Value beyond the Reach of its Creditors

As we have discussed in previous QuickStudies, certain borrowers in industries experiencing particularly adverse economic conditions have taken advantage of flexible terms in their credit agreements to transfer valuable…more

Borrowers, Collateral, Creditors, EBITDA, Popular

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Cynthia Timms

The Texas Supreme Court Holds Interest Must Be Simple Absent an Express, Clear, and Specific Provision for Compounding

The Texas Supreme Court has clarified Texas law concerning how to calculate interest that is being paid pursuant to an agreement or statute. Samson Exploration, LLC v. Bordages, No. 22-0215, 2024 WL 2869049 (Tex. June 7, 2024)…more

Contract Terms, Energy Sector, Gas Royalties, Mineral Leases, Oil & Gas

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Harry Tiwari

New York Opens Significant New ‎Lending Market by Authorizing Reverse Mortgages Secured ‎by ‎Co-Op Apartments‎

The law does not take effect until mid-2022 and is subject to regulations to be promulgated by the ‎New ‎York Department of Financial Services. ‎ On December 1, 2021, New York Governor Kathy Hochul signed into law a bill…more

Borrowers, HUD, Mortgage Lenders, Mortgages, NYDFS

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Meagan Tom

Ringless Voicemail Service Provider Protected by Strong Ruling on Section 230 Immunity

In a case that could have broad implications for telecommunications platforms, telemarketing, and privacy law, Stratics Networks Inc. (Stratics), an interactive communications software corporation offering ringless voicemail and…more

Communications Decency Act, Corporate Counsel, Data Privacy, Federal Trade Commission (FTC), Immunity

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Tom Tong

BEA Reporting Requirements for ‎Foreign Direct Investment in the United States

The U.S. Department of Commerce’s Bureau of Economic Analysis (“BEA”) prepares official U.S. economic statistics, such as the U.S. international transactions accounts, the national income and product accounts, and the…more

Benchmarks, Bureau of Economic Analysis, Foreign Direct Investment, Foreign Investment, Form BE-12

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Case Towslee

‎Planning for a Decarbonized Future: ‎FERC Grid Rule Targets Accelerated Clean Energy ‎Buildout, ‎Reliability

On May 13, 2024, the Federal Energy Regulatory Commission (“FERC”) by a 2-1 vote took decisive action to implement new transmission planning and cost allocation regimes through the adoption of FERC Order No. 1920 (the “Rule”)…more

Carbon Emissions, Clean Energy, Energy Sector, FERC, Power Grid

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Tara Trifon

Spoliation: When the Duty to Preserve Data Outweighs the Obligation to Delete

Implementing and enforcing appropriate legal holds is essential to preventing the destruction of data related to current or anticipated litigation and avoiding inadvertent spoliation claims. Depending on the nature of the…more

Destruction of Evidence, Discovery, Duty to Preserve, Sanctions, Spoliation

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Andrew Truong

Are Term Loan Notes Securities? Court ‎Confirms Longstanding Market View ‎They Are Not

Introduction On August 24, 2023, the United States Circuit Court of Appeals for the Second Circuit (the “Second Circuit”) decided Kirschner v. JP Morgan Chase Bank, N.A., addressing the issue of whether notes issued as part of…more

Financial Institutions, Securities and Exchange Commission (SEC), Securities Regulation, Syndicated Loans

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Steven Trybus

The Supreme Court’s ‎Decision on ‎Enablement in Amgen v. Sanofi

Justice Gorsuch authored a unanimous opinion arching back to precedent from the 1800s and upholding the Federal ‎Circuit’s and district court’s determinations that Amgen’s patent claims are invalid for lack of ‎enablement.‎ The…more

Amgen, Patent Litigation, Patents, Pharmaceutical Industry, Pharmaceutical Patents

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Tamer Tullgren

Saving Our Small Businesses – Considerations for Lenders upon the Default or Bankruptcy of a Paycheck Protection Program Borrower

With the goal of providing financial relief to companies impacted by the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) amended the Small Business Act to allow the Small Business…more

Borrowers, CARES Act, Commercial Bankruptcy, Coronavirus/COVID-19, Lenders

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Jonathan Turpin

The FTC Strikes Again – Challenging the Listing of 300+ Patents in FDA’s Orange Book

On April 30, 2024, the FTC issued a press release and warning letters to ten pharmaceutical companies notifying them that the FTC had “availed [themselves] of the FDA’s regulatory process and submitted patent listing dispute…more

Federal Trade Commission (FTC), Food and Drug Administration (FDA), Orange Book, Patents, Pharmaceutical Industry

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Jason Ulezalka

The Double Dip: Guacamole Faux Pas ‎or Liability Management ‎Technique?

Jerry Seinfeld and Larry David taught us that you can’t double dip a chip—“it’s like putting your whole mouth right in the dip.” However, the credit markets have recently been focused on a different type of double dip, one that…more

Borrowers, Creditors, Debtors, Insolvency, Lenders

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Abigail Van Hook

Illinois Supreme Court Says Five Year ‎Statute of Limitations for ‎BIPA Claims

Today, the Illinois Supreme Court issued its much anticipated decision in Tims v. Black Horse Motor Carriers, Inc., deciding that the Biometric Information Privacy Act’s (“BIPA”) prohibition against sale of biometric data, or…more

Biometric Information, Biometric Information Privacy Act, Data Collection, Data Privacy, Statute of Limitations

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Chris Verducci

Court Addresses Formation of Accidental Partnerships in Long-Awaited Enterprise v. Energy Transfer Appeal

The Dallas Court of Appeals yesterday issued its opinion in Enterprise Products Partners, L.P. v. Energy Transfer Partners, L.P. , in which the court reversed a judgment of more than $500,000,000 rendered after a jury returned a…more

Breach of Duty, Business Litigation, Disgorgement, Duty of Loyalty, Fiduciary Duty

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Adrienne Walker

Protecting High Value Bank Accounts – ‎Options to Increase FDIC Insurance Limits and Trust ‎Solutions

The recent collapses of Silicon Valley Bank (“SVB”) and Signature Bank—followed by the bailout of Credit Suisse—have led depositors to look for ways to protect their deposits in excess of the Federal Deposit Insurance…more

Banking Sector, Banks, Deposit Accounts, Deposit Insurance, FDIC

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Jeffrey Wallace

Proposed Changes to Code Section ‎‎1061 Contemplate Significant Changes for Real Estate Funds ‎and Developers

The “Inflation Reduction Act of 2022” recently announced by Senators Manchin and Shumer to be added to the 2022 Budget Reconciliation bill proposes several significant changes to Section 1061 of the Internal Revenue Code of…more

APIs, Capital Gains, Income Taxes, Internal Revenue Code (IRC), Partnership Interests

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Paige Waters

West Virginia Issued Bulletin No. 24-06 RE: Artificial ‎Intelligence

On August 9, 2024, the West Virginia Office of the Insurance Commissioner issued Bulletin 24-06 on Artificial Intelligence Systems (“Bulletin”). The Bulletin is applicable to “all insurers authorized to do business in West…more

Artificial Intelligence, Insurance Industry, Machine Learning, NAIC

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Julie Webb

Market Definition Is Front and Center in Recent Decision ‎‎Dismissing App Developers’ Antitrust ‎Claims Against Apple

A recent decision from Judge Edward M. Chen in the United States District Court for the Northern District of California focuses on the sufficiency of allegations of market definition to state a claim for federal antitrust…more

Antitrust Litigation, Antitrust Violations, App Developers, App Store, Apple

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Bradley Weber

New FTC Rule on Use of Consumer Reviews and Testimonials

On August 14, the Federal Trade Commission (the “FTC”), acting unanimously pursuant to its authority under Section 5 of the Federal Trade Commission Act, announced the adoption of a final Trade Regulation Rule on the Use of…more

Advertising, Fake Reviews, Federal Trade Commission (FTC), FTC Act, Section 5

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Aaron Weiss

New IRS Guidance: Emergency Personal Expense and Domestic Abuse Victim ‎Distributions Under SECURE 2.0

On June 20, 2024, the Internal Revenue Service (“IRS”) released Notice 2024-55 (the “Notice”) offering guidance on two (2) new types of distributions exempt from the 10% early withdrawal penalty: emergency personal expense…more

Employee Benefits, IRS, Retirement, Retirement Plan, SECURE Act

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Ashley Wheelock

‎2022 HIPAA Enforcement Update – ‎OCR Continues Focus on Rights of Access

In 2022, the Department of Health and Human Services, Office for Civil Rights (OCR) announced eighteen settlement agreements to resolve allegations of Health Insurance Portability and Accountability Act ‎‎(HIPAA) violations…more

Cybersecurity, Data Breach, Data Protection, Data Security, Health Care Providers

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John Whitlock

United States District Court Accepts the “Valid When Made” Doctrine

In Robinson v. National Collegiate Student Loan Trust 2006-2, the U.S. District Court for the District of Massachusetts accepted the validity of the “valid when made” doctrine. The District Court’s acceptance is noteworthy in…more

Banking Sector, Interest Rates, OCC, Student Loans, Valid When Made Doctrine

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Stephen Wilson

The Madrid Protocol

The United States is a party to the Madrid Protocol, an international treaty simplifying the process for registering trademarks on an international basis. This treaty allows owners of U.S. trademark registrations and pending…more

Intellectual Property Protection, International Trademark Protection, IP License, Madrid Protocol, Trademark Application

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Tammy Ward Woffenden

‎2022 HIPAA Enforcement Update – ‎OCR Continues Focus on Rights of Access

In 2022, the Department of Health and Human Services, Office for Civil Rights (OCR) announced eighteen settlement agreements to resolve allegations of Health Insurance Portability and Accountability Act ‎‎(HIPAA) violations…more

Cybersecurity, Data Breach, Data Protection, Data Security, Health Care Providers

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Michael Wolak, III

COVID-19 and Director Liability: Discharging Fiduciary Duties While Navigating the Financial Distress and Business Uncertainty Caused by the Pandemic

The COVID-19 pandemic has caused unprecedented economic disruption at virtually every level of a business, from alarming declines in demand and revenue, operational and supply chain problems , employee issues, roadblocks to…more

Board of Directors, Coronavirus/COVID-19, Duties & Responsibilities, Duty of Care, Duty of Loyalty

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W. Allen Woolley

[Webinar] Going Through Withdrawal: Dealing with Multiemployer Pension Plan Withdrawal Liability? - November 14th, 12:00pm CT

This program will present an overview of withdrawal liability issues pertinent to employers contributing to multiemployer pension plans under collective bargaining agreements. The presenters are an experienced enrolled actuary…more

Collective Bargaining Agreements (CBA), Continuing Legal Education, Employee Retirement Income Security Act (ERISA), Multiemployer Plan, Pensions

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Peter Wynacht

Proposed Changes to Code Section ‎‎1061 Contemplate Significant Changes for Real Estate Funds ‎and Developers

The “Inflation Reduction Act of 2022” recently announced by Senators Manchin and Shumer to be added to the 2022 Budget Reconciliation bill proposes several significant changes to Section 1061 of the Internal Revenue Code of…more

APIs, Capital Gains, Income Taxes, Internal Revenue Code (IRC), Partnership Interests

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Jonathan Young

Too Much of a Good Thing: Congress Allows Increased Subchapter 5 Eligibility Level to Expire

Over the past few years, one of the universally celebrated success stories in the bankruptcy and restructuring world has been Subchapter V of the Bankruptcy Code. Created by the Small Business Reorganization Act of 2019 (the…more

Bankruptcy Code, CARES Act, Chapter 11, Commercial Bankruptcy, Coronavirus/COVID-19

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Julie Young

SPACs and the Implications for D&O ‎Insurance

Special Purpose Acquisition Companies or “SPACs” have emerged as a significant part of the ‎financial and transactional markets. A SPAC is a company with no commercial operations, formed ‎strictly for the purpose of publicly…more

D&O Insurance, Enforcement Actions, Initial Public Offering (IPO), Securities and Exchange Commission (SEC), Special Purpose Acquisition Companies (SPACs)

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Thomas Yoxall

Texas Supreme Court Affirms a Lender’s Equitable Subrogation Rights Following ‎Expiration of the Statute of Limitations on the Lender’s Lien

On January 29, 2021, the Texas Supreme Court confirmed that the voiding of a lender’s lien due ‎to the expiration of the statute of limitations does not preclude the lender from foreclosing on a ‎pre-existing lien under the…more

Borrowers, Equitable Subrogation, Lenders, Mortgages, Statute of Limitations

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Bilal Zaheer

Delaware Court of Chancery Finds That Crossing the “Fine Line Between Glaringly Egregious Conduct and an Aggressive Litigation Position” Costs Gilead $1.76 Million in Attorneys’ Fees

As discussed last January, Delaware courts have lowered the threshold for stockholders to gain access to books and records. Stockholders are permitted to obtain books and records so long as they can show a credible basis to…more

Attorney's Fees, Books & Records, Delaware General Corporation Law, Section 220 Request

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Jason Zanetti

Federal Sports Betting Legislation Introduced in the Senate

On Wednesday, December 19, 2018, Senators Orrin Hatch (R-Utah) and Chuck Schumer (D-New York) formally introduced the legislation that they had previously released in draft form. The bi-partisan legislation, titled, the “Sports…more

Proposed Legislation, Sports Betting, Sports Gambling

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