Inflation Reduction Act
A permit system may finally arrive for the Migratory Bird Treaty Act - New Opportunities and Responsibilities
For years, Federal Courts have held that individuals can be held criminally liable under the Migratory Bird Treaty Act (MBTA) for the death of birds regardless of whether they intended to harm them. While several courts have recently called into...
Federal District Court Denies Barclays Motion to Dismiss FERC Petition Which Alleges Manipulation and Assesses Significant Penalties
For the past two years we have been tracking and reporting on an enforcement proceeding brought by the Federal Energy Regulatory Commission ("FERC") against Barclays Bank PLC ("Barclays"), Daniel Brin, Scott Connelly, Karen Levine, and Ryan Smith (collectively, the "Traders"...
Delaware Supreme Court Clarifies Pleading Standard For Claims Against Independent Directors
Yesterday, in In re Cornerstone Therapeutics, Inc. Stockholder Litigation , the Supreme Court of Delaware held that plaintiffs seeking monetary damages against disinterested, independent directors must plead facts sufficient to support an inference that the directors engaged in a non-exculpated...
Justice Department Provides Cybersecurity Guidance
To listen to the podcast, please click here . In late April, the Department of Justice’s Cybersecurity Unit provided a set of voluntary best practices for companies faced with the prospect of data breaches. The DOJ’s best practices were expressly...
Supreme Court Clarifies Standard For Holding Issuers Liable Under The Securities Act Of 1933
In a highly-watched securities law decision, the United States Supreme Court yesterday ruled unanimously that opinion statements in public securities registration statements are not actionable under § 11 of the Securities Act of 1933 if the company had a “reasonable...
Supreme Court Holds State Regulatory Board Not Immune From Antitrust Laws
On February 25, 2015, the U.S. Supreme Court determined that the North Carolina State Board of Dental Examiners (“Dental Board”) is not shielded from federal antitrust law under the doctrine of state-action antitrust immunity. North Carolina State Board of Dental...
Supreme Court Rules that Trademark Tacking is a Question for Juries
Today, the Supreme Court unanimously held in Hana Financial v. Hana Bank, 574 U.S. ___ (2015), that trademark tacking is a question for juries. Trademark tacking, or the ability to "tack" a new mark to an older mark in order...
Supreme Court's Dual Standard of Review for Claim Construction Creates a Potential Grab Bag For Patent Litigants
The United States Supreme Court clarified yet another important standard in patent law by mandating that the Federal Circuit apply clear error review when reviewing subsidiary factfindings in patent claim construction. Teva Pharms. USA Inc., v. Sandoz, Inc. , 574...
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...
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...
Delaware Court Establishes "Taxonomy" For Controlling Stockholder Claims
In a recent decision, the Delaware Court of Chancery (Parsons, V.C.) dismissed a shareholder class action complaint alleging that a target company’s board of directors and private equity firm controlling stockholder breached their fiduciary duties by approving a merger that...
Assets in Foreign Branches Off Limits to Domestic Judgment Creditors
New York’s high court announced last week that banking institutions with branches in New York are shielded from judgment creditors attempting to collect on customer assets held at foreign branches of the same bank. Specifically, the New York Court of...
Consequences of a Data Breach: Lessons from Wyndham Worldwide
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 al. v. Stephen P. Holmes, et al. , Case...