Patterson Belknap Webb & Tyler LLP

2nd Circuit Speaks: LIBOR Plaintiffs May Pursue Claims

On May 23, 2016, the Second Circuit issued a long-awaited decision in the In re: LIBOR-Based Financial Instruments Antitrust Litigation, vacating the District Court’s (Buchwald, J.) prior decision dismissing one case in this…more
| Antitrust & Trade Regulation, Civil Procedure, Finance & Banking

Tick-Tock: The Overtime Clock Starts Running For Millions More Workers

On May 18, 2016, the U.S. Department of Labor’s Wage and Hour Division (“DOL”) issued a final rule modifying overtime eligibility under the Fair Labor Standards Act (“FLSA”). The final rule, which goes into effect on December 1,…more
| Labor & Employment Law

Proposed Disregarded Entity Regulations: Potential Implications for Charities

On May 10, 2016, the Internal Revenue Service (“IRS”) published proposed regulations that would impose additional reporting and record-keeping requirements on domestic “disregarded entities” that are wholly owned (directly or…more
| Business Organizations, International Law & Trade, Nonprofit Law, Taxation

Patient and Provider Groups Urge FDA to Institute Meaningful and Memorable Names for Biosimilars

A coalition of patient and provider groups sent an open letter to Leah Christl, FDA’s associate director for therapeutic biologics and biosimilars, urging FDA to use meaningful names for biosimilars instead of random ones. The…more
| Administrative Law, Health, Science, Computers, & Technology

OUCH! Now What? OSHA Creates New Rules for Reporting and Submitting Records of Workplace Injuries and Illnesses

On May 11, 2016, the U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) issued a Final Rule modifying workplace injury and illness reporting requirements. Certain employers will be subject to new…more
| Labor & Employment Law

Take Notice (And Give Notice!): The “Defend Trade Secrets Act of 2016” (DTSA) Requires Immediate Employer Action

On May 11, 2016, President Obama signed the Defend Trade Secrets Act of 2016, creating the first federal civil cause of action for misappropriation of trade secrets. One provision of the DTSA requires immediate action by…more
| Civil Procedure, Civil Remedies, Commercial Law & Contracts, Intellectual Property, Labor & Employment Law

China’s New Laws on Foreign and Domestic NGOs

Operating in China just became a bit more complex for foreign nongovernmental organizations (NGOs). China’s new “Law on the Management of Foreign Non-Governmental Organizations’ Activities within Mainland China”, which was…more
| Business Organizations, International Law & Trade, Nonprofit Law

SEC Chair Warns: Cyber Biggest Threat to Global Financial System

The chair of the U.S. Securities and Exchange Commission warned that cybersecurity is the biggest risk facing our financial system today. At an industry conference yesterday, SEC Chair Mary Jo White said that major exchanges,…more
| Finance & Banking, Privacy, Science, Computers, & Technology, Securities Law

Proposed Regulations on Foreign-Owned U.S. Disregarded Entities

On May 10, 2016 the Internal Revenue Service (the “IRS”) published proposed regulations that, if finalized, will treat a domestic disregarded entity wholly owned (directly or indirectly) by a foreign person as a corporation for…more
| Business Organizations, International Law & Trade, Taxation

The Supreme Court Sends Spokeo Back

Today, the U.S. Supreme Court decided one of the Term’s most closely watched cases: Spokeo, Inc. v. Robins. The 6-2 decision, while far from sweeping, creates a hurdle for plaintiffs in “no-injury” class actions…more
| Civil Remedies, Communications & Media Law, Constitutional Law, Personal Injury, Science, Computers, & Technology

The Penn State Hershey–Pinnacle Merger: A Turning Point in FTC’s Enforcement Authority, or Just a Temporary Setback?

As we have reported previously, the Federal Trade Commission recently has taken an aggressive stance in regulating mergers in the healthcare sector. The Commission has racked up a string of victories, but last week the Middle…more
| Antitrust & Trade Regulation, Civil Procedure, Consumer Protection, Mergers & Acquisitions, Health

Come Back With a Warrant: Proposed Rule Change Expands the Government’s Ability to Access Electronically Stored Information in Criminal Investigations

On April 28, 2016 the United States Supreme Court proposed a modification to Federal Rule of Criminal Procedure 41 that significantly alters the manner in which the government can obtain search warrants to access computer…more
| Elections & Politics, International Law & Trade, Privacy, Science, Computers, & Technology

Round Two: SWIFT Reports Another Bank Attack

For the second time this year, SWIFT is reporting another cyber-attack on a commercial bank. In a notice issued this morning, SWIFT said that attackers with a “deep and sophisticated knowledge of specific operational controls”…more
| Finance & Banking, Privacy, Science, Computers, & Technology

Managing Cybersecurity Risk for Nonprofit Organizations: A Fiduciary Duty?

We live in an era of increasingly prevalent cybercrime, and nonprofits are in the crosshairs.  Harvard University, Penn State University and two BlueCross BlueShield entities are just a few nonprofit organizations that reported…more
| Commercial Law & Contracts, Privacy, Science, Computers, & Technology, Nonprofit Law

FTC: Data Security Primer for Small Businesses and Start-ups

The Federal Trade Commission will host a one day-conference in Chicago at Northwestern’s Pritzker School of Law on June 15, 2016. This event will be the fourth of the FTC’s Start with Security Events nationwide, which build on…more
| Antitrust & Trade Regulation, Business Organizations, Commercial Law & Contracts, Privacy, Science, Computers, & Technology
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