The North Carolina Court of Appeals recently issued an opinion on the question of when documents solely in the possession of a third-party contractor—and not a public body—are public records subject to production under the...more
On August 24, 2023, the U.S. Court of Appeals for the Second Circuit in Kirschner unanimously held that notes evidencing syndicated loans do not plausibly qualify as “securities” covered by state and federal securities laws...more
Target and Walmart may have taken it on the chin last quarter, but solid results from other retailers—from Macy’s to the Dollars (Tree and General)—“defied Wall Street’s expectations” and helped boost stocks on Thursday. The...more
The Big Four bogeyman has haunted the U.S. legal market for years. Like any good horror movie villain, it’s shrouded in mystery. We don’t know when it’s coming, or exactly what will go down, but we know that a...more
Dans un arrêt du 31 mai 2018 (aff. C-633/16, Ernst & Young), la Cour de Justice de l’Union Européenne (CJUE) précise que la dénonciation d’un accord de coopération en vue de la réalisation d’une opération de concentration qui...more
In a judgment of 31 May 2018 (Case C-633/16, Ernst & Young), the European Court of Justice (ECJ) ruled that the termination of a cooperation agreement with a view to implementing a M&A transaction prior to its clearing under...more
On 31 May 2018, the European Court of Justice (ECJ) issued its preliminary ruling inthe Ernst & Young/KPMG Denmark case on the standstill obligation in mergers prior to authorisation. The ruling clarifies that a merger is...more
The “standstill obligation” under Article 7 of the Regulation 139/2004 on Merger Control (EUMR) prevents parties from implementing their transaction before receiving merger clearance from the European Commission (EC). Failure...more
Over the last year, we have noted an increased crackdown by competition agencies on so-called “gun jumping” – that is, the implementation of a merger before mandatory merger clearances are received. On 31 May 2018, the...more
On Monday, May 21, 2018, in a 5-4 opinion, the United States Supreme Court issued a long-awaited decision in the case, Epic Systems Corp. v. Lewis, on the issue of the enforceability of class action waivers in arbitration...more
On May 21, 2018, the Supreme Court of the United States settled the contentious class action waiver issue that has riled courts for the past six years. In a 5-4 opinion, the Court upheld class action waivers in arbitration...more
A D.C. Circuit panel unanimously ruled that the Public Company Accounting Oversight Board ("PCAOB") acted unlawfully by denying former Ernst & Young partner Marc Laccetti his right to bring an accounting expert to an...more
One of the key concerns of merging parties in any transaction is the steps they are allowed to take prior to the clearance of the merger. A recent case before the Court of Justice of the European Union (Case C-633/16 Ernst &...more
On Monday, October 2, 2017, the U.S. Supreme Court heard oral argument in three cases involving the enforceability of employee arbitration agreements that include class/collective action waivers. Since January when the...more
Employers that have class- or collective-action waivers in their employee arbitration agreements (or are contemplating implementing them) need not wait much longer for the U.S. Supreme Court to decide whether such waivers are...more
On October 2, 2017, the Supreme Court of the United States heard oral argument in three consolidated cases that will decide the future of class action waivers in the employment context. These cases—National Labor Relations...more
The United States Supreme Court heard a one-hour consolidated oral argument in three arbitration cases involving the intersection of the National Labor Relations Act and the Federal Arbitration Act on October 2, 2017. Epic...more
In its sixth annual report on voluntary audit committee reporting to shareholders, Ernst & Young observed “similar increases in voluntary audit-related disclosure as in the past several years, with steady growth in certain...more
In an issue of first impression in the state of New York, last week the New York Supreme Court, Appellate Division (the state’s intermediate appellate court) weighed in on the enforceability of arbitration provisions that...more
In January, the United States Supreme Court granted certiorari in National Labor Relations Board v. Murphy Oil USA, Case No. 16-307, Epic Systems Corp. v. Lewis, Case No. 16-285 and Ernst & Young LLP v. Morris, Case No....more
On July 19, 2017, the Supreme Court of the United States released the October 2017 term’s calendar for oral arguments, including the date it will hear oral argument in the three consolidated class action waiver cases that are...more
A class action waiver in an arbitration agreement is unenforceable under the National Labor Relations Act, Judge Gonzalo P. Curiel has ruled. Neal Pataky et al. v. The Brigantine, Inc., No. 3:17-cv-00352 (S.D. Cal. May 3,...more
Three cases involving the enforceability of class/collective action waivers in arbitration agreements are headed to the U.S. Supreme Court. In this piece, we look at the facts of those cases, which will be consolidated for...more
The Supreme Court granted petitions for certiorari in three lawsuits challenging the legality of arbitration agreements that bar workers from pursuing class actions. The Court consolidated the cases, Murphy Oil USA Inc., Epic...more
As we previously reported, the Supreme Court granted petitions for certiorari in three lawsuits challenging the legality of arbitration agreements that bar workers from pursuing class actions. The Court consolidated the...more