On August 7, 2024, the U.S. District Court for the Southern District of New York permanently enjoined Ripple from future violations of Section 5 of the Securities Act of 1933—that is, from the unregistered offer and sale of...more
Proskauer’s Hedge Fund Trading Guide offers a concise, easy-to-read overview of the trading issues and questions we commonly encounter when advising hedge funds and their managers. It is written not only for lawyers, but also...more
Executive Summary and Overview- State anti-ESG lawmakers have enacted legislation aimed at restricting investors from considering ESG factors in their investment strategies and decisions by requiring state financial...more
In Securities & Exchange Commission v. Govil, No. 22-1658, 2023 WL 7137291 (2d Cir. Oct. 31, 2023), the United States Court of Appeals for the Second Circuit dealt a setback to the enforcement agenda of the Securities and...more
I hope this won't ruin your Labor Day weekend. The employer-unfriendly decisions from the National Labor Relations Board have been coming fast and furious. In honor of the holiday, here's a short recap. As you probably...more
On Dec. 13, 2022, the National Labor Relations Board (NLRB) issued a monumental decision that significantly expands upon the remedies available to employees for violations of the National Labor Relations Act (NLRA). In Thryv,...more
The National Labor Relation Act (“Act”) permits the National Labor Relations Board (“Board” or “NLRB”) to award damages to employees that put them in the financial position in which they would have been if no violation had...more
Based on a recent ruling by the National Labor Relations Board in an unfair labor practice case, employers should prepare to show that pecuniary harm would have occurred in the absence of an unfair labor practice or that harm...more
The National Labor Relations Board (NLRB) dealt employers a stinging blow this week when it created, out of whole cloth, potentially expensive new remedies in unfair labor practice proceedings in Thryv, Inc. Although...more
In a 3-2 decision, the National Labor Relations Board (NLRB) has expanded its own authority to order consequential damages in all cases in which “make whole” relief is appropriate. Thryv, Inc., 372 NLRB No. 22 (Dec. 13,...more
On Tuesday, the National Labor Relations Board, in a 3-2 decision, expanded the remedy available for unfair labor practices to include a make-whole remedy for "all direct or foreseeable pecuniary harms” resulting from the...more
The National Labor Relations Board has issued a decision that expands employer exposure under the National Labor Relations Act, requiring for the first time that employers compensate employees for “foreseeable pecuniary...more
In another pro-union decision, the National Labor Relations Board (“NLRB” or “Board”) recently held that employers are responsible for all “direct or foreseeable pecuniary harms” sustained by employees as a result of an...more
In government contracting fraud cases with no actual or intended loss, defense attorneys should be on the lookout for prosecution attempts to invoke the “government benefits rule” to estimate “total gain” as an alternative...more
The Illinois Supreme Court held that hiring new counsel and incurring legal fees did not, by itself, trigger the two-year statute of limitations to file a legal malpractice action (735 ILCS 5/13-214.3(b)) because plaintiffs...more
The Chancery Court is now up and running in Wyoming. Its stated purpose is “to provide a forum for streamlined resolution of commercial, business and trust cases.” The goal is to resolve business and trust cases in a more...more
ERISA plan fiduciaries may be breathing a small sigh of relief this week after the U.S. Department of Labor (the “DOL”) issued a statement on March 10, 2021, that it would not pursue enforcement actions for violations of two...more
The Department of Labor (DOL) has issued a final rule to revise its existing rule regarding financial factors in selecting plan investments. We discussed the proposed rule in an earlier article, and this article provides a...more
Liu v. Securities And Exchange Commission, Case No. 18–1501 (2020). Equitable relief, including disgorgement, is permissible under the Securities Act of 1933, 15 U. S. C. §77a et seq., so long as it does not exceed a...more
Sutton v. Vermont Regional Center, 2019 VT 71 (Oct. 14, 2019) - Despite its longstanding reputation as liberal and sympathetic to plaintiffs, the Vermont Supreme Court has for a very long time strictly enforced the...more
By addressing the scope of damages sought in a wrongful death lawsuit for one’s child, a recent decision has reaffirmed the bar of recovery of non-pecuniary damages. In separating pecuniary damages from psychological damages,...more
The Sixth Circuit joined several other circuits in holding that a participant need not have actually incurred a financial loss in order to have standing to assert an ERISA claim for benefits under Section 502(a)(1)(B). Here,...more
A recent decision from the Ninth Circuit Court of Appeals highlights an existing circuit split regarding appellate standing. Courts in the Fourth and Seventh Circuits have disagreed whether objection and attendance at a...more
Steady, helmsman! Steady. This is the sort of weather when brave hearts snap ashore, and keeled hulls split at sea. Moby Dick, Herman Melville, Chap. XL - Since the Supreme Court’s (Justice Thomas’s) landmark decision in...more
As noted in a prior Commentary, plaintiffs continue to bring a flood of lawsuits under Illinois' Biometric Information Privacy Act ("BIPA") against companies that collect, use, or store biometric identifiers. Many of these...more