Disclosure

News & Analysis as of

OSHA Update: Legal Privileges Can Shield Accident Reports and Safety Audits from Disclosure

Written accident and incident investigations, as well as comprehensive safety and health compliance audits, are essential components of an effective safety and health program. Unfortunately, OSHA has often pursued accident...more

Did an Ohio Spill Expose a Leak in Ohio’s Hydraulic Fracturing Disclosure Laws?

After a recent accident at an Ohio unconventional drilling site, Governor Kasich expressed concern about the state’s fracturing-fluids-disclosure laws. The June accident spilled chemicals ­– including the drilling company’s...more

Outside the Scope? New York Court of Appeals Limits the Disclosure of Medical Reports in Childhood Lead Poisoning Cases

The New York Court of Appeals recently reversed the trial court’s order requiring plaintiffs in lead poisoning cases to produce detailed medical reports chronicling each alleged injury and causally connecting those injuries...more

Maryland’s High Court Holds Suits Under Finder’s Fee Law Subject To Three-Year Statute Of Limitations

On July 21, the Court of Appeals of Maryland, the state’s highest court, held in responding to a question certified by the U.S. District Court for the District of Maryland that alleged violations of Maryland’s Finder’s Fee...more

SEC Investigations Spur Debate over "Materiality" of Cyberattacks

Following a record year for data breach incidents — with eight breaches exposing over 10 million identities — the U.S. Securities and Exchange Commission (SEC) is closely scrutinizing how those breaches were handled. Multiple...more

CFPB extends comment period on proposal to publicly disclose consumer complaint narratives

The CFPB is extending the comment period on its proposed policy statement that would expand the complaint data that it publicly discloses in its Consumer Complaint Database to include “unstructured” complaint narratives. In a...more

Disclosure Reform

Yesterday, the US Chamber of Commerce’s Center for Capital Markets Competitiveness hosted a half-day session on “Corporate Disclosure Reform: Ensuring a Balanced System that Informs and Protects Investors and Capital...more

The DISCLOSE Act: Fantasy or Future?

Following a wave of judicial decisions that have cleared the way for more soft money in politics, federal legislators have continued to press for the passage of laws creating more stringent regulations on donor disclosures...more

CFPB Proposes Amendments to Home Mortgage Disclosure Act

The CFPB has proposed a rule to improve information reported about the residential mortgage market. According to the CFPB, the rule would shed more light on consumers’ access to mortgage credit by updating the reporting...more

The 'Inexorable March' Toward Disclosure of Risk Management Materials

A reminder for risk managers at hospitals and other healthcare organizations in Virginia and elsewhere: Plaintiffs’ attorneys can win access to risk management information long considered protected and internal—including...more

Real Property, Financial Services & Title Insurance Update

Easements: trial court erred in denying statutory easement or “way of necessity” where owners established all elements pursuant to section 704.01(2), Fla. Stat. – Messer v. Sanders, No. 1D13-3084 (Fla. 1st DCA July 9, 2014)...more

Delaware Court Dismisses Shareholder Class Action Suit Attacking Corporate Merger

Almost every proposed corporate merger is met with a shareholder suit against the acquiring company, merger target and the target’s board of directors in which the shareholders assert that the board breached its fiduciary...more

Inadvertence May Be Unavailing, Says the Fifth Circuit on Judicial Estoppel

The Fifth Circuit became the second United States Court of Appeals to establish a three prong test for determining whether a bankrupt debtor should be judicially estopped from pursuing a cause of action that she failed to...more

Part 2 - The IRS’ New 2014 Offshore Volunteer Disclosure Procedures

Below is Part 2 of my partner, Rick Josepher’s, analysis of the new offshore enforcement environment in light of the new 2014 Offshore Voluntary Disclosure Procedures. To view this Part, and all prior parts, in PDF format...more

SEC Resolves First Case Under New Municipalities Continuing Disclosure Cooperation Initiative

On July 8, 2014, the SEC announced that it had settled charges that a school district in California misled bond investors about its failure to comply with its continuing disclosure obligations under Rule 15c2-12 of the...more

Disclosure By Developer Binds Condo Purchasers

Condominium purchasers often do not read the Disclosure documentation which accompanies their Agreement of Purchase and Sale. The Disclosure documentation is important because it contains information which may have an impact...more

The Troubled Track Record of the Proxy Strike Suit

The recent wave of proxy strike litigation, once thought to be on the rise in 2012 and 2013, has now gone two years without a significant court victory. After one notable early success, decision after decision has gone...more

SEC Issues Guidance Regarding Enhanced Mutual Fund Disclosure

On June 26, 2014, the staff of the SEC’s Division of Investment Management issued guidance related to mutual fund disclosure enhancements adopted in 2009. The guidance is based on comments the staff has provided to a number...more

Friday Afternoon Smackdown – The SEC v. The House Of Representatives

On Friday, June 20, 2014, the Securities and Exchange Commission filed an action against the Committee on Ways and Means of the U.S. House of Representatives and congressional staffer Brian Sutter seeking enforcement of...more

CFPB Further Delays Prepaid Proposed Rule

Industry anticipation continues to grow as the Consumer Financial Protection Bureau (CFPB) announced that its general-purpose reloadable (GPR) prepaid card proposal will now be issued by the end of the summer. Although this...more

SEC Staff Warns Against “Disclosure Creep”

The staff of the SEC’s Division of Investment Management warned against “disclosure creep” invading fund prospectuses in regulatory guidance posted in June 2014....more

Corporate Governance Update: Handling Of Confidential Information - Briefings And Unannounced Corporate Transactions

ASIC recently released Report 393 Handling of confidential information: Briefings and unannounced corporate transactions (the "Report"). The Report results from ASIC's attendance at sample investor briefings, media-based...more

Will the FCC allow online disclosure of contest rules? Stay tuned

Anyone who watches television or listens to the radio has heard a fast-talking announcer race through the abbreviated rules for a sweepstakes or contest . Or perhaps you’ve seen a copy of the official rules for only a second...more

Sustainability Reporting–Something to Consider

It’s common knowledge that investors, analysts and other stakeholders view certain non-financial information as increasingly important indicators of a company’s long-term value. This information tends to be grouped into three...more

Non-Parties And Electronic Discovery: Limiting The Scope And Cost Of Responding To Invasive Rule 45 Subpoenas

“[D]iscovery is by definition invasive [and] parties to a law suit must accept its travails as a natural concomitant of modern civil litigation.” But “[n]on parties have a different set of expectations” and discovery aimed at...more

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