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Inflation Reduction Act
White House: Oil & Gas Industry Must Cut Methane Emissions By 40-45%
On January 14, 2015, the White House announced that it would for the first time directly regulate methane emissions from the oil and gas industry. By choosing to regulate methane directly rather than regulating VOCs, EPA may be seeking to...
Simplified Settlement Procedures for Issuers of 501(c)(3) Bonds
The Internal Revenue Service (IRS) has announced a simplified process for issuers that have loaned proceeds of qualified 501(c)(3) bonds to borrowers that automatically lost their tax-exempt status for failing to file annual returns or notices for three consecutive years...
FERC Enforcement - What to Expect in 2015
The Federal Energy Regulatory Commission's (FERC's) Office of Enforcement (Enforcement) recently released its annual report on enforcement activities for 2014. As is typical, Enforcement identified its primary concerns as detecting and deterring fraud and manipulation in its markets and ensuring...
Delaware Supreme Court Reverses Injunction Requiring Thirty Day Go-Shop
To listen to the podcast, please click here . In a recent decision, the Delaware Supreme Court reversed the Court of Chancery's entry of a preliminary injunction that enjoined C&J Energy Services, Inc. ("C&J") from holding a stockholder vote on...
Lessons For Corporate Directors From The Wyndham Data Breach Derivative Action
To listen to the podcast, please click here . On October 20, 2014, Wyndham Worldwide Corporation won dismissal of a shareholder derivative suit seeking damages arising out of three data breaches that occurred between 2008 and 2010. Dennis Palkon, et...
NLRB Broadly Expands Employee Rights to Use Company Email for Union Organizing and Other Protected Activity
To listen to the podcast, please click here . The National Labor Relations Board (NLRB) has found that employees have the right, during “nonworking time,” to use company email systems for union organizing and other activity protected under the National...
Second Circuit Overturns Insider Trading Convictions of Two Portfolio Managers
To listen to the podcast, please click here . In a blow to the Southern District of New York’s impressive run of insider trading convictions, the United States Court of Appeals for the Second Circuit held yesterday that insider trading...
Prove It Up: Texas Railroad Commission Revises Rule for Pipeline Common Carrier Permits
The Texas Railroad Commission has recently promulgated certain rule amendments designed to clarify how much information a pipeline operator must file to be classified, for TRRC regulation purposes, as a common carrier or a private pipeline. The revisions require pipeline...
New York Court Expands Application Of Common Interest Privilege In Case Involving M&A Transaction
To listen to the podcast, please click here . Expanding the law in New York governing the attorney client privilege, New York’s intermediate appellate court held last week that anticipated or pending litigation is not a necessary prerequisite to invoking...
Presidential Memorandum: Streamlining the U.S. Immigrant Visa System
The immigration executive actions announced by the President on November 20, 2014 are expected to be implemented in the next several months, and some initiatives may take longer. The new programs will be funded through application fees rather than appropriated...
FERC Policy Proposal "“ More Modernization Trackers?
At its November 20, 2014 meeting, FERC issued a policy proposal to facilitate the recovery of the costs associated with improving pipeline safety and reducing emissions. Recognizing the fact that several pipeline safety and environmental initiatives will be facing the...
Final Treasury Regulations Set Deadline for Arbitrage Rebate Overpayment Claims
Effective November 13, 2014, the filing deadline for a claim for an arbitrage rebate overpayment on tax-exempt and other tax-advantaged bonds is two years after the final arbitrage computation date for the issue from which the claim arose. Treasury Decision...
Transaction Parties Pay Hefty Antitrust Fines for Unlawful Premerger Coordination
On November 7, 2014, Flakeboard America Limited (Flakeboard), its parent companies, and SierraPine entered into a settlement with the Department of Justice (DOJ) resolving allegations that the parties engaged in illegal premerger coordination activity during the DOJ’s antitrust review of...
Struck Down: When Liquidated Damages Become Unenforceable
Construction law can be something of a dark art "“ there isn't a day that goes by where the humble construction lawyer isn't presented with a bit of a head-scratcher. Take liquidated damages, for example. It's clear that an LDs...
Participation Not Required: SEC Charges Mayor as Control Person in Municipal Bond Offering
In an unprecedented exercise of its authority to charge municipal officials with “control person” liability, the Securities and Exchange Commission (SEC) recently announced fraud charges against the City of Allen Park, Michigan, its former mayor and former city administrator for...