Ernst & Young

News & Analysis as of

Holding Class Waivers Violate the NLRA, Ninth Circuit Joins Circuit Split

Requiring class and collective action waivers as a condition of hire or continued employment violates the National Labor Relations Act, the U.S. Court of Appeals for the Ninth Circuit, in San Francisco, has ruled. Morris v....more

Ninth Circuit, California Appellate Court Take Aim at Arbitration Agreements

The Ninth Circuit and the California Court of Appeal have each issued decisions that may fundamentally affect how employers deal with arbitration agreements in the future. In Morris v. Ernst & Young, the Ninth Circuit held...more

Ninth Circuit Sides with NLRB in Divide over Employee Arbitration Waiver Agreements

The U.S. Court of Appeals for the Ninth Circuit announced this week that it agrees with the National Labor Relations Board that individual arbitration waiver agreements, which prevent employees from filing or participating in...more

West Coast—Time to Check Your Employment Agreements: Ninth Circuit Negates No-Class Action Clause in Arbitration Agreements

This week, the Ninth Circuit held that Ernst & Young’s (E&Y) arbitration agreement that prohibited its employees from filing class actions violates the National Labor Relations Act (NLRA). E&Y required as a condition of...more

Ninth Circuit Holds Class Action Waivers Violate NLRA: What Employers Should Do Now

In an important 2–1 decision, a divided panel of the Ninth Circuit Court of Appeals recently concluded class action waivers in arbitration agreements violate the National Labor Relations Act (NLRA) and therefore are...more

Ninth Circuit Finds Arbitration Agreement That Required Employees to Bring Claims in “Separate Proceedings” Illegal Under the NLRA

On August 22, 2016, in Morris et al. v. Ernst & Young, LLP, a panel of the U.S. Court of Appeals for the Ninth Circuit followed the lead of the National Labor Relations Board (“NLRB”) and the U.S Court of Appeals for the...more

Ninth Circuit Strikes Class Arb Waivers

The Ninth Circuit Court of Appeals weighed in, today, on the propriety of class action arbitration waivers under the NLRA. The Court held that such waivers violate Sections 7 and 8 of the NLRA in the context of a pending...more

Applying The "Common Legal Interest" Privilege In The Context Of A Financial Transaction

Sophisticated and complex commercial litigation and criminal investigations often involve many participants and their lawyers. In these cases, it is often beneficial for the lawyers to share confidential information pursuant...more

NJ Appellate Division Rules that Continued Employment Means Consent to Arbitration

On July 23, 2015, the New Jersey Appellate Division upheld Ernst & Young’s alternative dispute resolution (“ADR”) policy statement as valid and enforceable. In Jaworski v. Ernst & Young, No. A-5259-13T2, three former...more

Focus on Tax Controversy and Litigation - Supreme Court Decides Maryland v. Wynne and Rules that Maryland Tax Scheme Is...

In This Issue: - Maryland’s Tax Scheme Ruled Unconstitutional - “FTC Generator” Case Update - FSA Rules that Equitable Disgorgement May be Deductible Expense - District Court Upholds Attorney Client...more

Credit Crunch Digest - May 2015

This issue of the Credit Crunch Digest focuses on the nearly $6 billion Forex settlement between the big banks and various regulatory agencies; a judgment against RBS and Nomura in a mortgage-backed securities lawsuit brought...more

Surprise! You Get to Arbitrate! Massachusetts Courts Continue to Permit Third Parties to Enforce Arbitration Agreements

Two Massachusetts decisions—including one from the state’s highest court—applied the same standard regarding enforcement of an agreement to arbitrate. In each case, plaintiffs signed arbitration agreements with another...more

Bridging the Week - April 2015 #3

CFTC Commissioner Bowen Argues for User Fees During House Subcommittee Hearing; Commissioner Wetjen Calls for Bankruptcy Law Amendments to Permit Individual Segregation of Customer Funds - Commodity Futures Trading...more

SEC Sanctions Chinese Accounting Firms for Refusal to Surrender Documents

On February 6, 2015, the U.S. Securities and Exchange Commission (SEC) imposed sanctions against four China-based accounting firms for their refusal to surrender documents in conjunction with an investigation of potential...more

Tax Policy Update

NUMBER OF THE WEEK: 52 percent. The likelihood that tax reform will happen in 2017 or earlier, according to the tax experts that participated in the Tax Council (TTC) and Ernst & Young (EY) Tax Reform Business Barometer in...more

China Auditor Update: SEC and Chinese Audit Firms "Settle" for the Status Quo

In an Order of Settlement released February 6, 2015, the SEC agreed to stay the administrative action against the Chinese affiliates of the “Big Four” accounting firms for refusing to turn over their audit work papers...more

SEC – PRC Based Audit Firms Reach A Settlement

The SEC and the PRC based affiliates of five major accounting firms entered into a settlement of proceedings initiated over the failure to produce audit work papers for issuers with substantial operations in China. The...more

SEC Announces Settlement With “Big Four” China Accounting Firms Over Production of Documents Located in China

Today, the Securities and Exchange Commission (“SEC” or “Commission”) announced the terms of a settlement with four of the Respondents in In the Matter of BDO China Dhaua CPA Co., Ltd. The four Respondents are the China...more

2014 Top 10 SEC Enforcement Highlights

Mary Jo White was confirmed in April 2013 as Chair of the Securities and Exchange Commission (the “SEC”), becoming the first former United States Attorney to serve in that role. Given her background, and despite criticism...more

IBM Corp. v. United States—A Study in the Risks and Rewards of Including a Reservation of Rights in an Offer

Including a reservation of rights in a proposal is a delicate matter. On the one hand, it is in the contractor’s best interest to identify clearly the assumptions on which its proposal is based....more

EY Global Fraud Survey: “Depressing,” yes, surprising, no.

In an August 21, 2014 post concerning the Ernst and Young (EY) 12th Global Fraud Survey (link here for download), Cindy Knezevich, (Vice President of Marketing Operations at The Network), states, “it’s shocking how little...more

This Week In Securities Litigation (Week ending July 18, 2014)

The SEC’s insider trading probe regarding the House Ways and Means Committee and a senior staff member, also involves 44 investment funds and other entities, according to a Bloomberg news report citing recently filed court...more

EY Sanctioned For Acting As An Advocate For Audit Clients

Auditor independence is critical. The opinion issued by the audit firm regarding the financial statements of an audit client represents in part that the firm is independent. That judgment is based on an assessment of all the...more

Alabama Confirms Arbitrators’ Grant of Judgment As A Matter of Law

Just as SCOTUS held its nose and confirmed an arbitration award it thought stunk in Sutter, the Supreme Court of Alabama has confirmed an arbitration award made after only the claimant presented evidence and grounded in a...more

Audit Firm Ordered To Disclose PRC Working Papers To SFC Despite PRC "State Secrets Law" Concerns

On 23 May 2014, the Securities and Futures Commission of Hong Kong ("SFC") successfully obtained an order from the High Court of Hong Kong requiring Ernst & Young Hong Kong ("E&Y") to produce all audit working papers prepared...more

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