Jones Day

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51 Louisiana Avenue, N.W.
Washington, D.C. 20001-2113, United States
Phone: 202.879.3939
Fax: 202.626.1700
Areas Of Practice
  • Alternative Dispute Resolution (ADR)
  • Antitrust & Trade Regulation
  • Appellate Practice
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  • Securities Law
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Other U.S. Locations
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  • D.C.
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Number of Attorneys
1,000+ Attorneys

Illinois Becomes Second State to Pass Broad Legislation on the Use of AI in Employment Decisions

On August 9, 2024, Illinois Governor J.B. Pritzker signed into law H.B. 3773 (the "Act"), making Illinois the second state to pass broad legislation on the use of artificial intelligence ("AI") in employment decisions… more

Artificial Intelligence, Automated Decision Systems (ADS), Bias, Employer Liability Issues, Employment Discrimination

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U.S. Department of Energy Conditionally Commits Up to $1.5 Billion to Finance Nuclear Plant in Michigan

Holtec Palisades is the first project to receive a conditional funding commitment from the U.S. government through the Inflation Reduction Act's Energy Infrastructure Reinvestment ("EIR") program… more

Clean Energy, Department of Energy (DOE), Energy Policy, Energy Projects, Federal Funding

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ISDA Publishes Financial Power Purchase Agreement (FPPA) Template

Renewable power purchase agreements that do not require the physical delivery of energy between parties ("Financial Power Purchase Agreements" or "FPPAs") have been on the rise across the globe, leading many market participants… more

Derivatives, Energy Policy, ISDA, Power Purchase Agreements, Swaps

See all updates »

Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

See all updates »

Real Insight - Issue 1 2025

INTRODUCTION - Welcome to the first edition of Real Insight, our new UK real estate update. Among the subjects covered in this edition are the emerging success of data centres in the planning system, continuation funds, the… more

Commercial Leases, Construction Industry, Construction Project, Data Centers, Easements

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A Review of 2024 Labor & Employment Legislation in California

The 2024 California legislative session saw the passage of a number of new and important labor and employment laws… more

California, Employee Benefits, Employees, Employer Liability Issues, Employment Policies

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Ninth Circuit Dismisses Major Climate Change Lawsuit Against the Federal Government - Court rejects request for extraordinary relief in opinion that could prove useful in other climate change litigation.

The private sector is increasingly the target of climate change litigation. These lawsuits seek to hold private companies liable for climate change under state public and private nuisance law. Although the most recent wave of… more

Article III, Carbon Emissions, Causation, Climate Change, Due Process

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Texas Enacts New Law to Regulate Proxy Advisory Firms

On June 20, 2025, Texas Governor Greg Abbott signed Senate Bill 2337 ("SB 2337") to impose first-of-its-kind regulation and significant disclosure obligations on proxy advisors, such as ISS and Glass Lewis. SB 2337 aims to limit… more

Business Advice, Corporate Governance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG)

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Japan's Amended Payment Services Act Could Prompt More Nonbank Entries Into Traditional Banking Services

The Situation: The amendment to the Payment Services Act ("PSA") of Japan took effect in May 2021, removing the current numerical transfer cap placed on fund transfer services by nonbank institutions. The Result: This… more

Financial Services Agency, Financial Services Industry, Japan, Money Transmitter, Nonbank Firms

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Global Enforcement And Asset Recovery Series - Series Article 2: Asset Disclosure

In the context of asset recovery, a successful outcome largely depends on the ability of a claimant to garner sufficient disclosure of assets that are amenable to enforcement. This, in turn, explains why the powerful injunctive… more

Asset Recovery, Corporate Structures, Criminal Prosecution, Debtors, Disclosure Requirements

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Saudi Council of Ministers Approves 100% Foreign Ownership of Engineering Consultancies

Currently, Saudi Arabian law permits foreign direct investment in engineering consultancies operating in the private sector only through a professional company licensed by the Ministry of Commerce and Industry ("MOCI")… more

Engineering, Foreign Corporations, Foreign Direct Investment, Foreign Investment, Foreign Subsidiaries

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JONES DAY PRESENTS®: EU Mandatory Disclosure Rules (DAC 6)

DAC6, the European Union's new disclosure regime, imposes the reporting of cross-border tax arrangements for multinational enterprises in 28 European countries. Jones Day partners Florian Lechner (Frankfurt) and Carlos Albiñana… more

Cross-Border Transactions, DAC6, Disclosure Requirements, EU, Member State

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U.S. Supreme Court Bars Liability for "Pure Omissions" Under Section 10(b) of Securities Exchange Act

The United States Supreme Court in Macquarie Infrastructure Corp. v. Moab Partners, L.P., No. 22-1165, ruled that a corporation is not liable under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 for failing… more

Disclosure Requirements, Item 303, Macquarie Infrastructure Corp v Moab Partners LP, Misleading Statements, Omissions

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Texas Enacts New Law to Regulate Proxy Advisory Firms

On June 20, 2025, Texas Governor Greg Abbott signed Senate Bill 2337 ("SB 2337") to impose first-of-its-kind regulation and significant disclosure obligations on proxy advisors, such as ISS and Glass Lewis. SB 2337 aims to limit… more

Business Advice, Corporate Governance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG)

See all updates »

Delaware Bankruptcy Court: No Implied Assumption of Executory Contracts in Bankruptcy

The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to assume, assume and assign, or reject executory contracts and unexpired leases is an important tool designed to promote a "fresh start" for debtors… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Debtors-in-Possession

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CFTC Operating and Enforcement Divisions Issue Advisory on Referrals to Enforcement Division

On April 17, 2025, the Commodity Futures Trading Commission's ("CFTC") operating divisions ("Divisions") provided guidance in an advisory on the criteria they will use when determining whether to refer self-reported violations,… more

CFTC, Commodities, Enforcement Actions, Financial Services Industry, Fraud

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District of Columbia Expands False Claims Act to Include Qui Tam Tax Fraud Actions

The enforcement of the District's tax laws had previously been left exclusively to government agencies; a newly enacted bill will make the District one of a few jurisdictions to allow relators to bring qui tam suits alleging tax… more

Enforcement Actions, False Claims Act (FCA), Income Taxes, IRS, Proposed Amendments

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Jones Day Cross-Border Investigations Series 2023 - Issue 1 : Whistleblowing

While there are a number of ways in which organizations may become aware of potential wrongdoing internally, perhaps the most significant for its legal and compliance teams is internal reporting, or “whistleblowing,” by… more

Cross-Border, Cross-Border Transactions, Employment Rights Act, EU, Financial Conduct Authority (FCA)

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Global Merger Control Update | Fall 2022

This Jones Day Global Merger Control Update highlights significant recent developments and changes in merger control regimes. In this Update, we review: (i) key changes to merger regimes in Austria, Belgium, Bulgaria, Cambodia,… more

Acquisitions, Anti-Monopoly, Antitrust Provisions, Competition, Competition Authorities

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Approval of the Listing Act: Welcome Changes for Issuers of Debt Securities

The EU Listing Act, approved by the EU Council on October 8, 2024, and entering into force on December 4, 2024, introduces key changes to the EU Prospectus Regulation, offering greater flexibility for issuers of debt securities,… more

Capital Markets, Debt Securities, EU, EU Prospectus Regime, Listing Rules

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Epitope Claims Live On at the European Patent Office

While the genus antibody claim was effectively killed by the U.S. Supreme Court in Amgen v. Sanofi, it lives on in Europe despite a few recent setbacks at the European Patent Office ("EPO") and the Unified Patent Court ("UPC")… more

Amgen v Sanofi, EU, European Patent Office, Intellectual Property Protection, Patent Infringement

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U.S. Treasury and OECD Lay Groundwork for Selling Clean Energy Tax Credits

In Short - The Situation: With the Inflation Reduction Act of 2022 (the "IRA"), Congress created new tax credits and expanded several others to encourage U.S. taxpayers to invest in clean energy and carbon reduction projects… more

Clean Energy, Inflation Reduction Act (IRA), Internal Revenue Code (IRC), IRS, OECD

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Delaware Court Rejects Application of D&O Policy's "Bump-Up" Exclusion to Securities Claim Settlement

In a significant victory for policyholders, the Delaware Superior Court rejected three insurers' attempts to apply their Directors and Officers Liability ("D&O") policies' so-called "bump-up" exclusion to bar coverage for… more

Acquisition Agreements, Commercial Insurance Policies, Contract Terms, Corporate Governance, D&O Insurance

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CFTC Divisions Interpret "U.S. Person" Definition and U.S. Location Versus Foreign Location

A 2024 CFTC enforcement action settlement that may have introduced a new test for when the Commodity Exchange Act and the agency's regulations apply on a cross-border basis concerned then-CFTC Commissioner and now Acting CFTC… more

CFTC, Commodity Exchange Act (CEA), Cross-Border Transactions, Derivatives, Enforcement Actions

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New Year, New Illinois Employment Laws

New legislation in Illinois introduces several changes, effective January 1, 2025, that will affect businesses with Illinois employees… more

Anti-Discrimination Policies, Employer Liability Issues, Equal Pay, Human Rights, Illinois

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Brazil Amps Up Enforcement of Data Protection Law

Actions in the last six months of the Brazilian National Data Protection Authority (“ANPD”) suggest that it intends to aggressively enforce the Brazilian Data Protection Law (“LGPD”). The LGPD applies to any entity that… more

Brazil, Consumer Privacy Rights, Data Breach, Data Controller, Data Privacy

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making

Carbon capture utilization and storage (“CCUS”) refers to technologies that enable carbon dioxide (“CO2”) emissions from industrial sources to be captured and either used in a way that limits or prevents them from being emitted… more

Asia Pacific, Association of Southeast Asian Nations (ASEAN), Carbon Capture and Sequestration, Climate Change, Energy Policy

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Capital Relief for Software Assets: European Commission Amends Own Fund Requirements

The Development: New Regulation (EU) 2020/2176 (the "Regulation") provides regulatory capital relief, allowing certain software assets to be considered when calculating Common Equity Tier 1 ("CET1") capital. It entered into… more

Capital Requirements, Credit Institutions, European Commission, Financial Institutions, Financial Services Industry

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Federal Circuit Dismisses Appeals As Moot

Koss filed a patent infringement suit against Bose asserting the ’155, ’934, and ’025 patents, after which Bose petitioned for inter partes review of all three patents before the PTAB. The district court case was stayed pending… more

Appeals, Final Judgment, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Mootness

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The CFTC Proposes "Guidance" for Derivatives Markets on Listing Voluntary Carbon Credit Derivatives

In Short - The Background: As voluntary carbon credits ("VCCs") have grown in popularity, questions about their integrity and quality have arisen for investors and among regulators and lawmakers. For this reason, many have… more

Carbon Emissions, Carbon Pricing, CFTC, Derivatives, Designated Contract Markets (DCMs)

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Reform of the EU Securitisation Framework—Part 2: Proposed Definitions of "Public" and "Private" Securitisations

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Capital Markets, EU, Financial Markets, Investment, Proposed Amendments

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New Year, New Illinois Employment Laws

New legislation in Illinois introduces several changes, effective January 1, 2025, that will affect businesses with Illinois employees… more

Anti-Discrimination Policies, Employer Liability Issues, Equal Pay, Human Rights, Illinois

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U.S. Supreme Court Clarifies TCPA's Definition of "Autodialer"

The ruling should limit the FCC's ability to rewrite the statute through administrative action. In Facebook, Inc. v. Duguid, the Supreme Court resolved the interpretive question at the heart of the swarm of litigation under… more

ATDS, Auto-Dialed Calls, Facebook, Facebook Inc v Duguid, FCC

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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Capital Markets, EU, European Banking Authority (EBA), European Commission

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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Spanish Fund and Venture Capital Regulation Adapts to European Regulations

In Short - The Situation: Spain's new Law 18/2022 regarding the creation and growth of companies (the so-called "Create and Grow Law") will facilitate investment in start-ups and includes improvements in foreign financing… more

Investment, Investment Funds, Investors, Private Equity, Startups

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EU Geopolitical Risk Update - Key Policy & Regulatory Developments No. 121

This regular alert covers key policy and regulatory developments related to EU geopolitical risks, including in particular, economic security, Russia’s war against Ukraine, health threats, and cyber threats. It does not purport… more

Competition, Cyber Threats, Cybersecurity, Data Protection, Economic Sanctions

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Japanese Supreme Court: Building a System That Includes a Server Located Outside Japan Constitutes Patent Infringement

On March 3, 2025, the Japanese Supreme Court held that building a network-based system comprised of a server located in the United States, connected via a network to user terminals in Japan, constitutes "producing a product"… more

Intellectual Property Litigation, Intellectual Property Protection, International Trade, Japan, Patent Infringement

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CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making

Carbon capture utilization and storage (“CCUS”) refers to technologies that enable carbon dioxide (“CO2”) emissions from industrial sources to be captured and either used in a way that limits or prevents them from being emitted… more

Asia Pacific, Association of Southeast Asian Nations (ASEAN), Carbon Capture and Sequestration, Climate Change, Energy Policy

See all updates »

Misleading or Deceptive Conduct Claims on Projects in Australia

A claim for misleading or deceptive conduct under s 18 of the Australian Consumer Law is one of the most commonly used causes of action in commercial litigation in Australia, including in disputes on major projects in mining,… more

Australia, Australian Consumer Law, Commercial Litigation, Construction Disputes, Deceptive Intent

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The UK, France, and Switzerland Form New Anti-Corruption Enforcement Task Force

On March 20, 2025, the UK's Serious Fraud Office ("SFO"), France's National Financial Prosecutor's Office ("PNF"), and the Office of the Attorney General of Switzerland ("OAG") announced the creation of a new task force to… more

Anti-Corruption, Bribery, Corporate Counsel, Corruption, Enforcement Actions

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The Climate Report | Second Quarter 2023

"Green Day" in the UK - As part of its "Powering Up Britain" strategy, the UK government has published a series of documents setting out its vision for the UK's transition to net zero and the strengthening of UK energy… more

Biden Administration, Climate Action Plan, Climate Change, Energy Policy, Energy Reform

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Evolution of EU Carbon Legislation

On December 13, 2022, the European Parliament and the Council of the EU reached a provisional agreement on the implementation of the EU Carbon Adjustment Mechanism ("CBAM"), the mechanism designed to complement the European… more

Carbon Emissions, Carbon Pricing, EU, Greenhouse Gas Emissions

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CJEU Makes First Judgment Interpreting EU Blocking Regulation

An Eagerly Awaited Decision - The Grand Chamber of the Court of Justice of the European Union ("CJEU") has recently— and for the first time—given its opinion on the interpretation and application of the controversial Council… more

Blocking Statutes, Corporate Counsel, Court of Justice of the European Union (CJEU), Economic Sanctions, EU

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Who Needs Customers, Anyway? New SEC Rules Turn Traders Into Dealers

The Securities and Exchange Commission (the "SEC" or "Commission") has adopted new rules that further define the phrase "part of a regular business" for purposes of determining whether a person is a "dealer" or "government… more

Dealers, Financial Industry Regulatory Authority (FINRA), Investment Adviser, New Rules, Registration Requirement

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Secondary Considerations Arguments Precluded By Prior Nexus Testimony

On June 6, 2024, the PTAB issued a Final Written Decision concluding claims 1-6 of U.S. Patent No. 8,899,655 B1 (“the ’655 patent”) unpatentable. Yita LLC v. MacNeil IP LLC, IPR2023-00172, Paper 70 (PTAB Jun. 6, 2024)… more

Evidence, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Inventions, Patent Infringement

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White House Opens Door to Broader Inclusion of Alternative Assets in Defined Contribution Retirement Plans

A hotly anticipated August 7, 2025, executive order, "Democratizing Access to Alternative Assets for 401(k) Investors" ("EO"), aims to reduce regulatory barriers and significantly expand access to "alternative assets"—including… more

401k, Compensation & Benefits, Defined Contribution Plans, Department of Labor (DOL), Digital Assets

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Business Restructuring Review Vol. 24, No. 4 | July–August 2025

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once the… more

Appeals, Bankruptcy Code, Bankruptcy Court, Borrowers, Chapter 11

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Legislation: Will the Post-Grant Procedures Established by the AIA PREVAIL?

The Senate recently introduced a bill directed to substantially narrowing the scope of post grant proceedings, including Inter Partes Reviews (“IPRs”), before the Patent Trial and Appeal Board (“PTAB”). First introduced by a… more

America Invents Act, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Legislative Agendas, Patent Infringement

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Key Considerations for Internal Investigations in India Following Recent Regulatory Circular to Indian Auditors

In Short - The Situation: On June 26, 2023, the National Financial Reporting Authority of India ("NFRA") issued a circular reminding statutory auditors in India of their obligation under Indian law to report to the Indian… more

Audit Committee, Auditors, Doing Business, Financial Reporting, Fraud

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Third Circuit Confirms Government Knowledge Can Defeat Scienter and Materiality Requirements for False Claims Act Liability

The Situation: In Spay v. CVS Caremark Corp., the Third Circuit became the latest court of appeals to hold that, in False Claims Act litigation, scienter can be lacking when the government has knowledge of "the facts underlying… more

Acquiescence, Centers for Medicare & Medicaid Services (CMS), False Claims Act (FCA), False Statements, Government Knowledge Defense

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Corporate Real Estate Transactions in the UK: Beware Remediation Contribution Orders

Remediation Contribution Orders require developers, landlords, or their associated entities to contribute to the cost of remediating building safety risks in England and Wales. Since the jurisdiction to make this order was… more

Beneficial Owner, Landlords, Real Estate Transactions, Remediation, Statutory Requirements

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California Governor Issues Executive Order Requiring Transition to 100% Zero-Emission Vehicle Sales

On September 23, 2020, California Governor Gavin Newsom issued Executive Order N-79-20 (the "Order"), setting new statewide goals for phasing out gasoline-powered cars and trucks in California. Under the Order, 100% of in-state… more

CARB, Clean Air Act, Climate Change, Environmental Protection Agency (EPA), Executive Orders

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Florida Supreme Court Adopts Federal Summary Judgment Standard

The Situation: The Florida Supreme Court considered whether and how to amend Florida's summary judgment rule to comport with the federal summary judgment standard, which is easier to satisfy. The Result: The Florida Supreme… more

Evidence, Federal Rules of Civil Procedure, FL Supreme Court, FRCP 56, Summary Judgment

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One Big Beautiful Bill Act— Impact on Energy Tax Credits

The One Big Beautiful Bill Act (the “OBBBA”), which was passed on July 4, 2025, included several changes to the energy tax credits introduced and expanded by the Inflation Reduction Act of 2022 (the “IRA”). The key changes to… more

Clean Energy, Climate Change, Electric Vehicles, Energy Policy, Energy Tax Incentives

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UK Draft Bill Addresses Criminal Money Laundering Through Overseas Entities

The Situation: The purchase of property in the United Kingdom has, for various reasons, become an attractive mechanism by which to launder criminal proceeds through overseas entities. The Solution: A draft bill is currently… more

Anti-Money Laundering, Beneficial Owner, Criminal Prosecution, Enforcement Actions, Foreign Entities

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Landmark Climate Change Case Overturned: The Hague Court of Appeals Overturns Ruling Ordering Shell to Reduce CO2 Emissions

On November 12, 2024, The Hague Court of Appeals overturned the landmark climate change litigation case that imposed a 45% CO2 reduction obligation on Shell… more

Appeals, Carbon Emissions, Climate Change, Environmental Policies, Greenhouse Gas Emissions

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Italian Data Protection Authority Issues Guidelines on Data Processing Relating to Employees' COVID-19 Vaccinations at the Workplace

The Italian Data Protection Authority ("DPA") has issued guidelines on data protection rules applying to COVID-19 vaccinations at the workplace. On May 13, 2021, the Italian DPA issued guidelines on data protection rules… more

Coronavirus/COVID-19, Cybersecurity, Data Processing Rules, Data Protection, Data Protection Authority

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NDIL Launches Pilot Program to Encourage Individual Self-Disclosure of Organizational Misconduct

The Development: On September 16, 2024, the U.S. Attorney's Office for the Northern District of Illinois ("NDIL") announced its six-month Individual Self-Disclosure Pilot Program for Organizational Misconduct ("Pilot Program"),… more

Corporate Misconduct, Foreign Corrupt Practices Act (FCPA), Non-Prosecution Agreements, Pilot Programs, Reporting Requirements

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Clarity in Singapore: How COMI Is Determined Under the UNCITRAL Model Law on Cross-Border Insolvency

In re Fullerton Capital Ltd [2025] SGCA 11, a BVI-incorporated company entered into insolvency proceedings in the British Virgin Islands ("BVI"). The liquidators sought recognition of the BVI liquidation as a "foreign main… more

Appeals, British Virgin Islands, COMI, Commercial Bankruptcy, Cross-Border

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U.S. District Court Invalidates HHS Guidance Overreading HIPAA's Application to Online Technologies

On June 20, 2024, a U.S. federal district court held, in a suit brought by Jones Day, that the Department of Health and Human Services ("HHS") had misapplied the Health Insurance Portability and Accountability Act ("HIPAA") in a… more

Confidential Information, Covered Entities, Data Privacy, Department of Health and Human Services (HHS), Electronic Protected Health Information (ePHI)

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EPA Finalizes Methane Emission Regulations

The Situation: The Environmental Protection Agency ("EPA") finalized regulations designed to reduce methane emissions from the oil and gas industry by 80% in coming years at both new and existing facilities. The regulations… more

Clean Air Act, Congressional Review Act, Energy Policy, Environmental Policies, Environmental Protection Agency (EPA)

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Treasury Proposes Expansion of CFIUS Real Estate Review Authority

On July 8, 2024, the U.S. Department of the Treasury ("Treasury") issued a proposed rule to expand the Committee on Foreign Investment in the United States' ("CFIUS") jurisdiction over certain categories of foreign investment in… more

CFIUS, Cryptocurrency, Foreign Investment, Investors, National Security

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Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

See all updates »

NYDFS Expands Cybersecurity Regulations: Extortion Payment Reporting, Corporate Governance, and Technical Requirements

A major amendment to the New York State Department of Financial Services' cybersecurity regulations establishes affirmative cybersecurity oversight duties and requires companies to report extortion payments to the agency… more

Chief Information Security Officer (CISO), Cybersecurity, Cybersecurity Framework, Data Protection, Extortion

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OMB Directs Agencies to Accelerate AI Adoption and Devise Governance Strategy

The Office of Management and Budget releases highly anticipated guidance to federal agencies on the use and deployment of artificial intelligence and how to manage its risks… more

Artificial Intelligence, Executive Orders, Federal Contractors, Government Agencies, Machine Learning

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Landmark European Commission Cartel Fines on No-poaching Agreements and Minority Shareholdings

European Commission ("EC") issues its first fining decision for a no-poach agreement, and also sanctions for the first time the exchange of sensitive information between a company and its competing, non-controlling minority… more

Acquisition Agreements, Anti-Competitive, Antitrust Violations, Competition Authorities, Corporate Counsel

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Bring Me Sunshine … but London Rights of Light Injunction Is Refused

The owner of a property which enjoys a right of light over surrounding properties can seek to restrain development of the surrounding properties which would infringe that right. This can include seeking an injunction to remove… more

Building Codes, Commercial Property Owners, Damages, Environmental Policies, Injunctions

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The Regulation of Private Markets in Australia—Where to Next?

The Australian Securities & Investments Commission ("ASIC") is increasing its focus on private markets, adopting a similar approach to other international regulators. Following on from its introduction of a dedicated private… more

ASIC, Australia, Capital Markets, Corporate Governance, Investment Funds

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ISDA Publishes Financial Power Purchase Agreement (FPPA) Template

Renewable power purchase agreements that do not require the physical delivery of energy between parties ("Financial Power Purchase Agreements" or "FPPAs") have been on the rise across the globe, leading many market participants… more

Derivatives, Energy Policy, ISDA, Power Purchase Agreements, Swaps

See all updates »

Data Centres: One of the Winners as the English Planning System Adapts

Since coming into power in July 2024, the UK government has made several planning policy decisions with the aim of facilitating data centre development… more

Data Centers, Energy Policy, Government Agencies, Infrastructure, Real Estate Development

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The French Ministry of Economy Releases Guidelines on Foreign Direct Investments

On September 9, 2022, the French Ministry of Economy released its guidelines ("Guidelines") on the regulation of foreign direct investments ("FDI"). These Guidelines come a few months after the French Ministry of Economy made… more

Foreign Direct Investment, Foreign Investment, France, Investors

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U.S. Supreme Court Modifies Title VII's Adverse Action Standard

The Court's decision in Muldrow v. St. Louis requires plaintiffs to prove "some injury" respecting employment terms or conditions in discrimination cases… more

Adverse Employment Action, Civil Rights Act, Diversity and Inclusion Standards (D&I), Employee Transfers, Employer Liability Issues

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Civil Justice Council Recommends "Light Touch" Regulation of Litigation Funding in United Kingdom

The Civil Justice Council ("CJC") has published its final report, recommending that the UK government regulate litigation funding and pass legislation to enable funders to be remunerated by way of a percentage of any damages… more

Appeals, Class Action, Damages, Disclosure Requirements, Government Agencies

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Brand Protection and Enforcement Under the DSA: Opportunities and Challenges

The Digital Services Act ("DSA"), which entered into force for all intermediary services and online platforms in February 2024, aims to modernize and harmonize the regulation of third-party content across the EU. It notably… more

Brand, Counterfeiting, Data Protection, Digital Services, Enforcement

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PTAB Grants Discovery of ITC Documents

In Apple Inc. v. Masimo Corp., the PTAB granted Masimo, the owner of patent 10,687,745 (“the ’745 patent”), their request for production directed to “specific documents identified in regard to [a prior] ITC Investigation,… more

Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board, Patents

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Existence != Access – Public Accessibility Must be Clear

In a recent decision, the Patent Trial and Appeals Board denied institution of inter partes review after holding that Petitioner Microsoft’s key obviousness reference did not qualify as a printed publication. Microsoft Corp. v… more

Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Microsoft, Obviousness, Patent Infringement

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Beyond Masks: German Works Councils Play Key Role in Employee Safety

The Situation: The right of German works councils to co-determine matters relating to employee health and safety takes on added significance during the COVID-19 pandemic. The Result: The works council's right of… more

Coronavirus/COVID-19, Germany, Health and Safety, Infectious Diseases, Masks

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Crypto Exchange-Traded Products: Navigating the Intersection of Crypto and Securities

Direct ownership of crypto-assets or mere exposure to the value of crypto-assets is an investment decision, with both investment methods requiring specific approaches to mitigate and manage risks effectively… more

Cryptoassets, EU, Exchange-Traded Products, Financial Conduct Authority (FCA), Financial Markets

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Extraterritorial Reach of Italian/UK FDI Rules: Are In-Country Sales Sufficient Nexus?

In two recent decisions in the defense and national security sector, the Italian Foreign Direct Investment Authority ("FDI Authority") asserted jurisdiction in connection with two acquisitions of non-Italian companies that had… more

Defense Sector, Extraterritoriality Rules, Foreign Direct Investment, Government Agencies, Investors

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Innovative Insights: Legal Updates in Life Sciences | First Quarter 2025

Artificial intelligence is revolutionizing life science R&D (particularly in the realm of drug discovery) and challenging the traditional "human inventorship" requirement for U.S. patents. Recent guidance from the USPTO… more

Artificial Intelligence, Drug Pricing, Earn-Outs, Federal Funding, Foreign Aid

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D.C. Circuit Decision Underscores Jurisdictional Limits of FERC Project Reviews Under NEPA

On January 7, 2025, the U.S. Court of Appeals for the D.C. Circuit issued a decision—Citizens Action Coalition of Indiana, Inc. v. Federal Energy Regulatory Commission, 125 F.4th 229 (2025) ("Citizens Action")—affirming… more

Appeals, Energy Projects, Environmental Claims, Environmental Liability, FERC

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Earnouts in M&A Transactions: Recent Decisions From Delaware

In 2024, Delaware courts issued multiple instructive decisions on earnout provisions in life sciences M&A transactions… more

Acquisition Agreements, Breach of Contract, Business Disputes, Buyers, Commercial Litigation

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Applying Fintiv to a Parallel ITC Investigation

The Patent Trial and Appeals Board (“PTAB”) recently denied institution of an inter partes review (“IPR”), exercising its discretion under 35 U.S.C. § 314(a)and Apple Inc. v. Fintiv Inc., IPR2020-00019 (PTAB Mar. 20, 2020)… more

Claim Construction, Denial of Institution, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, International Trade Commission (ITC)

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Georgia Limits Liability for Pesticide Manufacturers

This week, Georgia's governor signed a new pesticide labeling and liability act (SB 144) ("Act"), amending state law to limit the scope of pesticide manufacturer liability for failure to warn and aligning the state standards… more

Agribusiness, Environmental Policies, Environmental Protection Agency (EPA), Failure To Warn, FIFRA

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Error Apparent? Federal Circuit Tackles Obvious Errors in Prior Art

In LG Electronics v. Immervision, the Federal Circuit clarified the standard for evaluating whether a prior art reference includes an obvious typographical error. See 39 F.4th 1364, 1365 (Fed. Cir. 2022). Under this standard,… more

Corporate Counsel, Patent Invalidity, Patent Litigation, Patent Trial and Appeal Board, Patents

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Will the U.S/EU Trade Deal lead to additional changes in European ESG legislation?

As a follow-up to the political agreement reached between U.S. President Donald Trump and EU Commission President Ursula von der Leyen regarding cross-Atlantic trade on July 27th, 2025, the United States and the EU issued a… more

Climate Change, Corporate Sustainability Reporting Directive (CSRD), Due Diligence, Environmental Social & Governance (ESG), EU

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California Air Resources Board Offers Direction as to Application of California Climate Disclosure Laws

On May 29, 2025, a virtual public workshop held by the California Air Resources Board ("CARB") offered direction on how it interprets certain elements of California's climate disclosure laws. While CARB has a July 1, 2025,… more

California, Cap-and-Trade, CARB, Carbon Emissions, Climate Change

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Business Restructuring Review Vol. 24, No. 4 | July–August 2025

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once the… more

Appeals, Bankruptcy Code, Bankruptcy Court, Borrowers, Chapter 11

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Severed Knowledge: Negative Trade Secrets Through the Lens of Compartmentalized Memory

Since the passage of the Defend Trade Secrets Act ("DTSA") in 2016, courts have increasingly addressed the nuance of negative trade secrets—information about what does not work, often referred to as "negative know-how."… more

Business Litigation, Confidential Information, Damages, Defend Trade Secrets Act (DTSA), Intellectual Property Litigation

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FDA's Digital Health Advisory Committee Discusses Total Product Lifecycle Considerations for GenAI-Enabled Devices

While generative artificial intelligence ("GenAI") has the potential to fundamentally change health care, it presents unique risks and complexities that challenge the U.S. Food and Drug Administration's ("FDA" or "Agency")… more

Artificial Intelligence, Digital Health, FDA Approval, Food and Drug Administration (FDA), Healthcare

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Chapter 15 Recognition Is No Rubber Stamp: Recent Trends Regarding Foreign Main and Nonmain Recognition

he number of complex cross-border restructurings continues to rise as the various economies of the world become more integrated. A growing contingent of countries has enacted sophisticated restructuring regimes or refined… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 15, Commercial Bankruptcy

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Congress Expands Orphan Drug Exemptions From Medicare Price Negotiations

The One Big Beautiful Bill Act ("OBBB") expands exemptions for orphan drugs from mandatory Medicare price negotiations and modifies their eligibility timeline… more

Drug Pricing, Health Insurance, Healthcare, Medicare, New Legislation

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Court Ruling May Shift the Contours of Shareholder Proposal Litigation Under Rule 14a-8

The Situation: Late last year, a shareholder sued NorthWestern Corporation ("NWE") to compel the company to include a climate-change related proposal in its 2020 proxy materials after NWE had notified the staff of the Securities… more

Corporate Counsel, Corporate Governance, New Guidance, No-Action Letters, No-Action Relief

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Navigating Tariffs and Income Taxes and Transfer Pricing

In this new trade landscape, it is more important than ever to coordinate customs and operational planning with income taxes and transfer pricing… more

Customs, First Sale Doctrine, Foreign Policy, Foreign Relations, Goods or Services

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Bank Merger and Acquisition Policy Changes: The Opportunity Is Now

Banking agencies and the DOJ have signaled an openness to bank M&A where the combined institutions will enhance competition, customer benefits, technological innovation, and enterprise risk management… more

Acquisition Agreements, Antitrust Provisions, Banks, Department of Justice (DOJ), Federal Reserve

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A Review of 2024 Labor & Employment Legislation in California

The 2024 California legislative session saw the passage of a number of new and important labor and employment laws… more

California, Employee Benefits, Employees, Employer Liability Issues, Employment Policies

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Clarity in Singapore: How COMI Is Determined Under the UNCITRAL Model Law on Cross-Border Insolvency

In re Fullerton Capital Ltd [2025] SGCA 11, a BVI-incorporated company entered into insolvency proceedings in the British Virgin Islands ("BVI"). The liquidators sought recognition of the BVI liquidation as a "foreign main… more

Appeals, British Virgin Islands, COMI, Commercial Bankruptcy, Cross-Border

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Rising Fraudulent Claims Submitted to Class Action Settlement Funds Heighten Settlement Risk

Consumers frequently receive only a paltry fraction of class action settlement funds, which are instead doled out to plaintiffs’ lawyers, cy pres recipients, and administrators. Now this problem is compounded by a recent… more

Class Action, Class Action Settlement, Class Members, Cy Pres Funds, Fund Distribution

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Spain Issues New Royal Decree Governing Remote Work Arrangements

Spain's new law introduces relevant regulations for employers and employees. Some of its rules will take effect on October 13, 2020. While the pandemic has highlighted various advantages and disadvantages of remote work in… more

Contract Terms, Employment Contract, International Labor Laws, New Legislation, Remote Working

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Directors Beware: How to Navigate Belgium's Latest Tort Liability Changes

The Situation: Tort liability rules for directors in Belgium changed significantly following the recent publication of a new Book 6 of the Civil Code. The new rules will enter into force on January 1, 2025… more

Belgium, Board of Directors, Civil Code, Liability, New Rules

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Class Actions Worldview: A Study of Trends Around the Globe, Part IV China, Japan, Belgium, The Netherlands, And England And Wales - May 2024

Although class actions have been common in the United States for decades, they have not been as widely used in the rest of the world. The situation and risks remain in flux, however, as more countries have renewed momentum to… more

Belgium, China, Class Action, England, International Litigation

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Take Your Seats: Cineworld Draws an Audience in UK High Court

Four UK companies within the Cineworld Group ("Cineworld") have obtained court sanction to an English-law Part 26A restructuring plan ("RP"). Cineworld became financially distressed following a prolonged period of poor trading… more

Chapter 11, Commercial Bankruptcy, Commercial Leases, Corporate Governance, Reorganizations

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Directors' Duties—A European Overview: Financial Distress and COVID-19 - November 2020

A company or group's financial distress causes significant turmoil for its owners, directors, managers, employees and often its suppliers and other creditors. For directors in particular, there are significant responsibilities… more

Commercial Bankruptcy, Coronavirus/COVID-19, Corporate Governance, Corporate Restructuring, Debt Restructuring

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Unified Patent Court: First Ruling on Equivalent Infringement

The doctrine of equivalents is a staple patent law principle, addressing the tension between providing fair protection to innovative ideas and ensuring legal certainty for third parties. However, like most patent laws, the… more

Appeals, Corporate Counsel, Doctrine of Equivalents, EU, European Patent Convention

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Generative AI End-User License Agreements: What Users Need to Know

In Short - The Background: The prevalence of generative artificial intelligence ("GenAI") is rapidly expanding, providing vast opportunities for efficiency and innovation, while also creating new risks… more

Algorithms, Artificial Intelligence, Confidentiality Agreements, Data Privacy, End-Users

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President Trump Pauses DOJ FCPA Enforcement and Orders Preparation of New Enforcement Guidelines

On February 10, 2025, President Donald J. Trump signed an Executive Order pausing enforcement of the Foreign Corrupt Practices Act ("FCPA") by the U.S. Department of Justice ("DOJ") for 180 days and ordering Attorney General Pam… more

Anti-Corruption, Attorney General, Department of Justice (DOJ), Enforcement Actions, Executive Orders

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White House Opens Door to Broader Inclusion of Alternative Assets in Defined Contribution Retirement Plans

A hotly anticipated August 7, 2025, executive order, "Democratizing Access to Alternative Assets for 401(k) Investors" ("EO"), aims to reduce regulatory barriers and significantly expand access to "alternative assets"—including… more

401k, Compensation & Benefits, Defined Contribution Plans, Department of Labor (DOL), Digital Assets

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New Year, New Mass Arbitration Rules From the AAA

On January 15, 2024, the American Arbitration Association ("AAA") published updates to its Mass Arbitration Supplementary Rules and Fee Schedule, aimed at streamlining the mass arbitration process and reducing costs… more

American Arbitration Association, Arbitration, Arbitration Agreements, Arbitrators, Business Disputes

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Minnesota Legislature Enacts Pay Transparency Law and Updates Paid Sick Leave and Other Employment Laws

Minnesota employers should be aware of several new employment laws that were included in the Omnibus Labor and Industry Policy bill and Omnibus Tax bill that were signed into law at the end of May, just before the close of the… more

Earned Sick and Safe Time Act, Employee Benefits, Employees, Employer Liability Issues, Equal Pay

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New Year, New Illinois Employment Laws

New legislation in Illinois introduces several changes, effective January 1, 2025, that will affect businesses with Illinois employees… more

Anti-Discrimination Policies, Employer Liability Issues, Equal Pay, Human Rights, Illinois

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Business Restructuring Review | May–June 2021

In This Issue: First Impressions: Third Circuit Scuttles Triangular Setoff in Bankruptcy - In In re Orexigen Therapeutics, Inc., 990 F.3d 748 (3d Cir. 2021), the U.S. Court of Appeals for the Third Circuit ruled as a… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 7, Commercial Bankruptcy

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Fifteenth Anniversary Update: Annotated Local Patent Rules for the Northern District of Illinois

Almost 15 years ago, in an effort to create greater predictability for patent litigation in the Northern District of Illinois, the District enacted Local Patent Rules (“LPR”).1 This annotated version of the LPRs is released in… more

Intellectual Property Protection, Local Patent Rules, Patent Infringement, Patent Litigation, Patents

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2023 U.S. Real Estate Round-Up: Effects of State ESG Laws on Commercial and Residential Building Owners

This 2023 U.S. Real Estate Round-Up provides key insights to commercial and residential building owners facing a flock of new state environmental, social, and governance ("ESG") laws proposed or taken effect in 2023, including… more

Climate Change, Commercial Property Owners, Energy Policy, Environmental Social & Governance (ESG), Greenhouse Gas Emissions

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New York Enacts Climate Change Law That Fines Companies for Historical Emissions

On December 26, 2024, New York enacted a law requiring certain energy companies to contribute cumulatively $75 billion to a climate "superfund" over the next 25 years… more

Carbon Emissions, Clean Air Act, Climate Change, Constitutional Challenges, Energy Sector

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White House Issues Executive Orders on AI Action Plan

The White House recently announced America's AI Action Plan (the "Plan")—sweeping federal AI policy reforms prioritizing innovation and deregulation of the artificial intelligence ("AI") industry… more

Artificial Intelligence, Data Centers, Executive Orders, Export Controls, Infrastructure

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The UK, France, and Switzerland Form New Anti-Corruption Enforcement Task Force

On March 20, 2025, the UK's Serious Fraud Office ("SFO"), France's National Financial Prosecutor's Office ("PNF"), and the Office of the Attorney General of Switzerland ("OAG") announced the creation of a new task force to… more

Anti-Corruption, Bribery, Corporate Counsel, Corruption, Enforcement Actions

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Prevailing Wages and More: Developer and Contractor Obligations in CHIPS Act-Funded Construction Projects

In Short - The Situation: The CHIPS Act provides over $50 billion in the form of grants, loans, loan guarantees, and other programs to incentivize semiconductor manufacturing in the United States. The U.S. Department of… more

Construction Industry, Construction Workers, Employer Liability Issues, Prevailing Wages, U.S. Commerce Department

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Court Opts Not To Stay Without Trial Instituted On All Asserted Patents

Congress implemented the Leahy-Smith America Invents Act (“AIA”) to “establish a more efficient and streamlined patent system that [would] improve patent quality and limit unnecessary and counterproductive litigation costs.” 77… more

America Invents Act, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Motion To Stay, Patent Trial and Appeal Board

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Protecting Your Identity After a Data Breach

In light of recent high-profile breaches of highly sensitive data, this is a good time to remind individuals of how to protect their identity and credit information… more

Bank Accounts, Consumer Financial Protection Bureau (CFPB), Credit Cards, Credit Monitoring, Credit Reports

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French Anticorruption Agency and French National Financial Prosecutor's Office Publish Updated Guide on Internal Anticorruption Investigations

On March 14, 2023, the French Anticorruption Agency ("AFA") and the Parquet National Financier ("PNF") jointly published a new version of their guide relating to internal anticorruption investigations (the "Guide")… more

Anti-Corruption, Bribery, Corruption, France, Internal Investigations

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U.S. Supreme Court Encourages Federal Rule 7(a)(7) Replies—A Potential Boon for Defendants

The U.S. Supreme Court recently reminded district courts that they may use Federal Rule of Civil Procedure 7(a)(7)—a little-known rule—to screen out meritless complaints before discovery… more

Counterclaims, Defense Strategies, Discovery, Dismissals, Federal Rules of Civil Procedure

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UK Corporates at Risk Again? UK Government Announces Plans to Adopt New Offence of Failure to Prevent Economic Crime

In Short  - The Situation: Following years of lobbying by senior prosecutors and other commentators, the UK government seems set to introduce an offence of a corporate failing to prevent economic crime… more

Bribery, Corporate Crimes, Criminal Liability, Tax Evasion, UK

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2022 Annual M&A/PE Review and 2023 Forecast

After a record-breaking 2021, deal activity in 2022 dropped by 37%, its largest year-over-year decline since 2001. Facing all the 2022 headwinds, including a difficult and uncertain financing market, the Ukraine war, inflation,… more

Corporate Governance, Disclosure Requirements, Environmental Social & Governance (ESG), Popular, Securities and Exchange Commission (SEC)

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France Releases Legal Framework for Renewable and Low-carbon Hydrogen

France has published an ordinance setting out the legal regime for hydrogen, aimed at fostering renewable and low-carbon hydrogen. Under ordinance n° 2021-167, dated February 17, 2021, three different types of hydrogen are… more

Electricity, Energy Sector, EU, France, Hydrogen Power

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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U.S. Supreme Court Ends Heightened Evidentiary Hurdle for "Majority Group" Plaintiffs in Title VII Discrimination Cases

On June 5, 2025, the Supreme Court decided Ames v. Ohio Department of Youth Services and held that a "majority group" plaintiff in a Title VII case need not satisfy a heightened evidentiary burden to establish a prima-facie case… more

Ames v Ohio Department of Youth Services, Disparate Treatment, Employment Discrimination, Employment Litigation, Evidentiary Standards

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Orders to Preserve Evidence (“Saisies”) at the Unified Patent Court: Two-Year Roundup and Early Insights

Evidence is a key battleground in virtually all patent litigation cases. As a Court designed to combine the best and most efficient features of the main EU national patent litigation systems, the Unified Patent Court (“UPC”)… more

Data Preservation, Dawn Raids, Discovery, Duty to Preserve, EU

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ESMA Clarifies Position on Documents Incorporated by Reference in Prospectuses

Following up on its earlier clarification around future incorporation by reference under Regulation (EU) 2017/1129 (the "Prospectus Regulation"), the European Securities and Markets Authority ("ESMA") published its final report… more

Capital Markets, Disclosure Requirements, EU, European Securities and Markets Authority (ESMA), Green Bonds

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Employee Stock Plans: International Reporting Requirements (UPDATED)

This White Paper highlights some of the principal annual or quarterly reporting requirements for employee stock plans that multinational companies most commonly encounter when offering these programs to their employees in… more

Compensation & Benefits, Employee Benefits, Employee Stock Purchase Plans, Multinationals, Regulatory Requirements

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CFPB's Expansion Efforts Draw Criticism From Lawmakers

In Short - The Situation: Since being confirmed as Director of the Consumer Financial Protection Bureau ("CFPB") last year, Rohit Chopra has urged state attorneys general to work with his agency to enforce federal consumer… more

Consumer Financial Products, Consumer Financial Protection Act (CFPA), Consumer Financial Protection Bureau (CFPB), Financial Services Industry

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ICJ Issues Advisory Opinion on States' Legal Obligations Regarding Climate Change

The International Court of Justice ("ICJ") stated that States have legal obligations to regulate emissions and may be held internationally responsible for climate inaction—including the failure to effectively regulate greenhouse… more

Carbon Emissions, Climate Change, Environmental Policies, Greenhouse Gas Emissions, Human Rights

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DOJ's Immigration-Employment Program Faces Headwinds Amidst Milestone Settlement

Two recent developments involving the U.S. Department of Justice's Civil Rights Division ("DOJ") highlight potential risks and opportunities for companies facing immigration-related employment matters… more

Administrative Law Judge (ALJ), Appointments Clause, Class Action, Constitutional Challenges, Department of Justice (DOJ)

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Bridging the Gap: Supply Shortfalls and Soaring Demand in the UK Build-to-Rent Sector

The UK faces a significant housing crisis due to an acute shortage of homes caused by high capital costs, increasing construction and development expenses, regulatory and political uncertainty, and persistent delays in the… more

Affordable Housing, Community Development, Construction Project, Critical Infrastructure Sectors, Economic Development

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FWDs Issue in the Nick of Time to Suspend ITC Orders

After finding that Apple infringed certain AliveCor patents related to wearable devices capable of monitoring a user’s cardiac activity, the International Trade Commission (“ITC”) entered a limited exclusion order and a cease… more

Final Written Decisions, Intellectual Property Litigation, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, International Trade Commission (ITC)

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Insider Trading Enforcement in 2022

Each year, the Department of Justice ("DOJ"), the Securities and Exchange Commission ("SEC"), and in recent years, the Commodity Futures Trading Commission ("CFTC") dedicate substantial resources to investigating and prosecuting… more

10b5-1 Plans, Enforcement Actions, Insider Trading, Material Nonpublic Information, Securities and Exchange Commission (SEC)

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EU Emergency Response Update – Key Policy & Regulatory Developments No. 114

This regular alert covers key regulatory developments related to EU emergency responses, including in particular to Russia’s war of aggression against Ukraine, COVID-19, and cyber threats. It does not purport to provide an… more

Competition, Cybersecurity, Data Protection, EU, European Commission

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New White House Report Outlines U.S. Policy for Digital Assets

President Trump's "Working Group on Digital Asset Markets" recently released a report with a strategic roadmap to advance American leadership in digital financial technology… more

Anti-Money Laundering, Bank Secrecy Act, Blockchain, Cryptoassets, Cryptocurrency

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DOL Steadies Fluctuating Workweek Rule

A Department of Labor rule provides that payments other than fixed salary are compatible with the fluctuating workweek method of calculating overtime pay under the FLSA. The Department of Labor's Final Rule, which took effect… more

Department of Labor (DOL), Fair Labor Standards Act (FLSA), Final Rules, Fluctuating Workweek, Minimum Salary

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FTC Finalizes Amendments to the Children's Online Privacy Protection Act Rule

On April 22, 2025, the Federal Trade Commission ("FTC") published the finalized amendments to the Children's Online Privacy Protection Act ("COPPA") Rule (the "Rule"), marking the first major update since 2013… more

COPPA, Data Privacy, Federal Trade Commission (FTC), FERPA, Final Rules

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Luxembourg Adopts New Foreign Direct Investment Screening Regime

In Short - The Background: Luxembourg has introduced a new foreign direct investment regime with a suspensory mandatory notification requirement in relation to investments in a broad range of sectors… more

EU, European Economic Area (EEA), Foreign Direct Investment, Foreign Investment, Luxembourg

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Georgia Limits Liability for Pesticide Manufacturers

This week, Georgia's governor signed a new pesticide labeling and liability act (SB 144) ("Act"), amending state law to limit the scope of pesticide manufacturer liability for failure to warn and aligning the state standards… more

Agribusiness, Environmental Policies, Environmental Protection Agency (EPA), Failure To Warn, FIFRA

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PTAB Announces Rules Formalizing Director Review

In 2021, following the Supreme Court’s Arthrex decision, the PTO issued an interim procedure for requesting Director Review. The PTO has now issued a Notice of Proposed Rulemaking (“NPRM”) formalizing the Director Review… more

Administrative Review, America Invents Act, Final Written Decisions, Notice of Proposed Rulemaking (NOPR), NPRM

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Landmark European Commission Cartel Fines on No-poaching Agreements and Minority Shareholdings

European Commission ("EC") issues its first fining decision for a no-poach agreement, and also sanctions for the first time the exchange of sensitive information between a company and its competing, non-controlling minority… more

Acquisition Agreements, Anti-Competitive, Antitrust Violations, Competition Authorities, Corporate Counsel

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Changes to Disclosure in Annual Reports: New Australian Requirements to Report on Subsidiaries

The Australian Federal Parliament recently introduced new requirements for public companies to disclose information about their subsidiaries in their annual report by legislating the Treasury Laws Amendment (Making… more

Annual Reports, Australia, Beneficial Owner, Disclosure Requirements, Publicly-Traded Companies

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Extraterritorial Reach of Italian/UK FDI Rules: Are In-Country Sales Sufficient Nexus?

In two recent decisions in the defense and national security sector, the Italian Foreign Direct Investment Authority ("FDI Authority") asserted jurisdiction in connection with two acquisitions of non-Italian companies that had… more

Defense Sector, Extraterritoriality Rules, Foreign Direct Investment, Government Agencies, Investors

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Medicare's Innovation Center Charts New Direction: Part 2 – Digital Health and AI

The Center for Medicare and Medicaid Innovation ("CMMI") is set to reshape value-based care. In the second of a three-part series highlighting this new direction, this summary is focused on CMMI's efforts regarding digital… more

AI Act, Artificial Intelligence, Centers for Medicare & Medicaid Services (CMS), CMMI, Comment Period

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ACCC Conducts Sweep of Online Statements for Compliance with Australian Consumer Law

The Australian Competition and Consumer Commission ("ACCC") recently announced that it had conducted a sweep of more than 2,000 Australian retail websites that found some businesses' return policies and website terms and… more

Australia, Australian Competition and Consumer Commission (ACCC), Australian Consumer Law, Contract Terms, Enforcement Actions

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PTAB Holds Mock Oral Arguments for LEAP Attorneys

Holding its first mock oral arguments, the PTAB provided LEAP eligible participants with a unique opportunity to argue in front of PTAB judges. On August 7, 2020, mock oral PTAB hearings were held virtually with 40 LEAP… more

Bar Associations, Inter Partes Review (IPR) Proceeding, LEAP, Litigation Strategies, Mock Trials

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SEC Adopts FAST Act Amendments to Modernize and Simplify Disclosure Requirements

The Situation: The U.S. Securities and Exchange Commission ("SEC") adopted amendments to modernize and simplify disclosure requirements in Regulation S-K and certain related rules and forms. The Result: The amendments seek to… more

Corporate Governance, Deregulation, Disclosure Requirements, Financial Regulatory Reform, Financial Statements

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Reform of the EU Securitisation Framework—Part 4: Amendments to the Transparency Regime Under Article 7 of the EU Securitisation Regulation

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Disclosure Requirements, EU, European Banking Authority (EBA), European Commission

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Failure-to-Prevent-Fraud Offense: UK Government Publishes Guidance on Required Policies

The UK Government has published much-anticipated guidance (the "Guidance­") on the new corporate offense of failure to prevent fraud (introduced under the Economic Crime and Corporate Transparency Act 2023 ("ECCTA")), which is… more

Corporate Governance, Extraterritoriality Rules, Failure to Prevent, Fraud, Serious Fraud Office (SFO)

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SEC Adopts Updates to Proxy Voting Advice Regime

The Situation: On July 22, 2020, the U.S. Securities and Exchange Commission ("SEC") adopted final rule amendments to regulate proxy voting advice as part of its emphasis on modernizing the proxy process. The final SEC… more

Anti-Fraud Provisions, Conflicts of Interest, Corporate Governance, Disclosure Requirements, Final Rules

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Pennsylvania Supreme Court Endorses Rule of Capture for Hydraulic Fracturing - Opinion in Briggs v. Southwestern Energy Co. left open the question of whether subsurface fractures across property lines constitute trespass.

The oil and gas industry in Pennsylvania attained a narrow victory after the Supreme Court of Pennsylvania endorsed the application of the rule of capture, the century-old legal principle shielding drillers from trespassing… more

Fracking, Liability, Oil & Gas, PA Supreme Court, Popular

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Relief for Multifamily Borrowers and Tenants in the CARES Act

The Situation: The COVID-19 outbreak has caused reverberating effects in multiple sectors of the economy, including multifamily real estate. With unemployment numbers rising, many multifamily tenants and building owners will… more

CARES Act, Coronavirus/COVID-19, FHFA, Forbearance Agreements, Relief Measures

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CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making

Carbon capture utilization and storage (“CCUS”) refers to technologies that enable carbon dioxide (“CO2”) emissions from industrial sources to be captured and either used in a way that limits or prevents them from being emitted… more

Asia Pacific, Association of Southeast Asian Nations (ASEAN), Carbon Capture and Sequestration, Climate Change, Energy Policy

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SEC Clarifies Liquid Staking Activities Are Not Securities Transactions Under U.S. Law

On August 5, 2025, the Division of Corporation Finance of the U.S. Securities and Exchange Commission ("SEC") issued a statement ("Statement") providing interpretive clarity on the application of federal securities laws to… more

Blockchain, Cryptoassets, Cryptocurrency, Decentralized Finance (DeFi), Digital Assets

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Directors' Duties—A European Overview: Financial Distress and COVID-19 - November 2020

A company or group's financial distress causes significant turmoil for its owners, directors, managers, employees and often its suppliers and other creditors. For directors in particular, there are significant responsibilities… more

Commercial Bankruptcy, Coronavirus/COVID-19, Corporate Governance, Corporate Restructuring, Debt Restructuring

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Earnout Provisions: When Litigation Arises and How to Avoid It

The use of earnout provisions, which buyers and sellers often use to bridge differing views of value, is on the rise, especially in the private equity and corporate venture capital markets. This White Paper examines how courts… more

Acquisition Agreements, Buyers, Earn-Outs, Federal Arbitration Act, Merger Agreements

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Business Restructuring Review November–December 2023 | Vol. 22 No. 6

Health Care Provider Bankruptcy Update: Patient Care Ombudsman Not Necessary In Every Health Care Business Bankruptcy Case - Recent headlines have starkly illuminated the headwinds facing health care providers struggling to… more

Bankruptcy Code, Bankruptcy Court, Bankruptcy Trustees, Banks, Chapter 11

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ACCC Conducts Sweep of Online Statements for Compliance with Australian Consumer Law

The Australian Competition and Consumer Commission ("ACCC") recently announced that it had conducted a sweep of more than 2,000 Australian retail websites that found some businesses' return policies and website terms and… more

Australia, Australian Competition and Consumer Commission (ACCC), Australian Consumer Law, Contract Terms, Enforcement Actions

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Regulating Digital Assets: FIT21 Seems to Fit the Bill

The United States lacks a regulatory framework geared toward digital assets. This raises consumer protection concerns, causes regulatory turf battles and duplicative enforcement actions, impedes innovation, and puts the United… more

Blockchain, CFTC, Cryptoassets, Cryptocurrency, Digital Assets

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Navigating Insurance for the Los Angeles Wildfires: What You Need to Know

The Los Angeles wildfires, which began on January 7, 2025, have caused widespread devastation, destroying homes, businesses, and communities, while displacing thousands of residents. Insured loss estimates currently exceed $30… more

Business Interruption, California, Insurance Claims, Insurance Litigation, Insurance Regulations

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The UK Getty Trial: Key Takeaways on the AI/Copyright Case

Getty Images ("Getty") alleged copyright infringement by Stability AI ("Stability"), including claims of direct copying during artificial intelligence ("AI") training and output generation, as well as secondary copyright… more

Algorithms, Artificial Intelligence, Copyright Infringement, Copyright Litigation, Getty Images

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Florida Supreme Court Adopts Federal Summary Judgment Standard

The Situation: The Florida Supreme Court considered whether and how to amend Florida's summary judgment rule to comport with the federal summary judgment standard, which is easier to satisfy. The Result: The Florida Supreme… more

Evidence, Federal Rules of Civil Procedure, FL Supreme Court, FRCP 56, Summary Judgment

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CFTC Staff Advisory Warns That SEF Prime Brokerage Arrangements Might Require DCO Registration

This advisory is the latest Commodity Futures Trading Commission ("Commission" or "CFTC") staff action conveying a Commission or staff view that CFTC registrants conducting business in nontraditional ways may need to register… more

CFTC, Commodities, Derivatives Clearing Organizations, Investment Adviser, SEFs

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More Pay Reporting and Disclosure Obligations on the Horizon for Employers

In Short - The Situation: The national trend toward pay equity is gaining momentum, leading to transformative changes for employers. A growing list of states and local jurisdictions are enacting pay transparency laws,… more

Employer Liability Issues, Pay Data, Pay Transparency, Reporting Requirements, Wage and Hour

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Business Restructuring Review Vol. 23 No. 1 | January-February 2024

One year ago, we wrote that 2022 would be remembered in the corporate bankruptcy world for the “crypto winter” that descended in November 2022 with the spectacular collapse of FTX Trading Ltd., Alameda Research, and… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 7, Commercial Bankruptcy

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Another 401(k) Plan Sponsor Faces Novel Suit Regarding its Use of Forfeiture Funds

The Employee Retirement Income Security Act ("ERISA") plaintiffs' bar has found a new way to allege that 401(k) plan sponsors have breached their fiduciary duty… more

401k, Breach of Duty, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA)

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Illinois Becomes Second State to Pass Broad Legislation on the Use of AI in Employment Decisions

On August 9, 2024, Illinois Governor J.B. Pritzker signed into law H.B. 3773 (the "Act"), making Illinois the second state to pass broad legislation on the use of artificial intelligence ("AI") in employment decisions… more

Artificial Intelligence, Automated Decision Systems (ADS), Bias, Employer Liability Issues, Employment Discrimination

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Return to Sender: PTAB Denies Government Contractor IPRs

After the Supreme Court’s 2019 decision in Return Mail, Inc. v. United States Postal Service, 139 S. Ct. 1853 (2019), held that federal agencies are not “persons” eligible to challenge a patent at the PTAB, the government was… more

Administrative Agencies, America Invents Act, Covered Business Method Proceedings, Government Entities, Intellectual Property Protection

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Employer Prevails in First Test of California's Newest Noncompete Law

In the first known case to challenge California's legislative attempt to void noncompete agreements even for employees who do not live or work in California, the First Circuit Court of Appeals upheld the application of… more

California, Choice-of-Law, DraftKings, Employees, Employer Liability Issues

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Business Restructuring Review Vol. 24, No. 3 | May–June 2025

Bankruptcy trustees and chapter 11 debtors-in-possession (“DIPs”) frequently seek to avoid fraudulent transfers and obligations under section 544(b) of the Bankruptcy Code and state fraudulent transfer or other applicable… more

Bankruptcy Code, Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Commercial Bankruptcy

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ISDA Publishes Financial Power Purchase Agreement (FPPA) Template

Renewable power purchase agreements that do not require the physical delivery of energy between parties ("Financial Power Purchase Agreements" or "FPPAs") have been on the rise across the globe, leading many market participants… more

Derivatives, Energy Policy, ISDA, Power Purchase Agreements, Swaps

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Italian Data Protection Authority Issues Guidelines on Data Processing Relating to Employees' COVID-19 Vaccinations at the Workplace

The Italian Data Protection Authority ("DPA") has issued guidelines on data protection rules applying to COVID-19 vaccinations at the workplace. On May 13, 2021, the Italian DPA issued guidelines on data protection rules… more

Coronavirus/COVID-19, Cybersecurity, Data Processing Rules, Data Protection, Data Protection Authority

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Ninth Circuit Clarifies Import of Escobar in False Claims Act Litigation

The Situation: Courts have disagreed over whether Universal Health Services, Inc. v. Escobar, 136 S. Ct. 1989 (2016), announced a mandatory test for implied certification liability under the False Claims Act ("FCA"). The… more

En Banc Review, False Claims Act (FCA), False Implied Certification Theory, Implied Certification, Material Misrepresentation

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Federal Circuit: Plans for Future Activity Created a Substantial Risk of Future Infringement

Restem filed a petition for inter partes review of U.S. Patent No. 9,803,176, directed to stem cells obtained from umbilical cord tissue and isolated through a two-step process to create a specific cell marker expression… more

Article III, CAFC, Claim Construction, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding

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USPTO Extends Comment Deadline on Patent Eligible Subject Matter Guidance for AI Inventions

The USPTO has extended the public comment deadline in order to afford all stakeholders an opportunity to weigh in on the subject matter eligibility of AI inventions… more

Artificial Intelligence, Comment Period, Deadlines, Innovative Technology, Intellectual Property Protection

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Navigating Tariffs and Income Taxes and Transfer Pricing

In this new trade landscape, it is more important than ever to coordinate customs and operational planning with income taxes and transfer pricing… more

Customs, First Sale Doctrine, Foreign Policy, Foreign Relations, Goods or Services

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Brand Protection and Enforcement Under the DSA: Opportunities and Challenges

The Digital Services Act ("DSA"), which entered into force for all intermediary services and online platforms in February 2024, aims to modernize and harmonize the regulation of third-party content across the EU. It notably… more

Brand, Counterfeiting, Data Protection, Digital Services, Enforcement

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Can EU Operators of Online Marketplaces be Held Liable for Trademark Infringement?

In Short - The Situation: The Court of Justice of the European Union ("CJEU") recently ruled that operators of online marketplaces may be held directly liable for trademark infringement in a context where third-party sellers… more

Corporate Counsel, Court of Justice of the European Union (CJEU), EU, Intellectual Property Protection, Online Marketplace

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Amendments to Australia's Modern Slavery Act Anticipated Following Statutory Review

In Short - The Situation: In 2018, the Australian federal government obligated Australian corporates to engage with modern slavery risks in their supply chain by enacting the Modern Slavery Act 2018 (Cth) ("the Act")… more

Australia, Forced Labor, Human Rights, Modern Slavery Act, Slavery

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Italian Non-possessory Pledge Now Available to Italian Businesses

On 23 January 2023, the technical standards issued by the Italian Tax Authority relating to the form and the procedure to be adopted for the statutory registration of the Italian non-possessory pledge were published in the… more

Italy, Moveable Assets, Tax Authority

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Spain's Draft Law on Collective Actions to Transpose EU Directive 2020/1828

Spain is moving forward with transposition of the EU Representative Actions Directive, aiming to unify rules and strengthen consumer protection… more

Class Action, Collective Actions, EU, EU Directive, Proposed Legislation

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Private Sale Not Necessarily Public Disclosure Under Section 102(b)(2)(B)

In Sanho Corp. v. Kaijet Technology International Limited, Inc, the Federal Circuit affirmed the PTAB’s decision finding obvious all challenged claims of the ‘429 patent, which relates to a device that provides ports for… more

Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Applications, Patent Infringement, Patent Litigation

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U.S. Treasury Department Releases Proposed Carried Interest Regulations

The regulations are proposed to be effective when finalized, but taxpayers may generally rely on them if applied fully and consistently. What Is (and Is Not) Covered? The three-year restriction applies with respect to… more

Capital Gains, Carried Interest, Economic Substance Doctrine, Holding Periods, Income Taxes

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PTAB Denies Institution of Maize-Directed PGR

On September 24, 2024, the PTAB denied institution of a post-grant review proceeding initiated by Inari Agriculture, Inc. (Petitioner) against Pioneer Hi-Bred International, Inc. (Patent Owner). The patent at issue was U.S… more

Intellectual Property Protection, Patent Infringement, Patent Invalidity, Patent Litigation, Patent Trial and Appeal Board

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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Capital Markets, EU, European Banking Authority (EBA), European Commission

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Telehealth Awareness Week: Insights on Telehealth

In support of the American Telemedicine Association's Telehealth Awareness Week (September 19-25, 2021), Jones Day's Digital Health team shared key insights on various legal topics applicable to telehealth. Jones Day's… more

Coronavirus/COVID-19, Digital Health, Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA), Infectious Diseases

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Litigation and Regulatory Considerations and Risks for Financial Market Participants in a Post-Pandemic Society

More than a year ago the world fell victim to a global pandemic that would change life in ways that could never have been predicted. In the early stages of the pandemic, we published a White Paper directed at financial markets… more

Coronavirus/COVID-19, Corporate Governance, Cybersecurity, Environmental Social & Governance (ESG), Financial Markets

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The Climate Report | Fourth Quarter 2024

New ESG regulations are expected to have a significant impact on disclosure and governance obligations for EU and non-EU companies alike, including extensive sustainability reporting and due diligence requirements on… more

Carbon Emissions, Climate Action Plan, Climate Change, Coal Mines, Energy Policy

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White House Releases Plan to Build U.S. AI Infrastructure

On July 23, 2025, the White House released "America's AI Action Plan" (the "Plan"), a comprehensive federal strategy to secure U.S. global leadership in artificial intelligence ("AI"). The Plan is structured around three… more

Artificial Intelligence, Clean Water Act, Data Centers, Department of Energy (DOE), Environmental Policies

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Class Actions Worldview - A Study of Trends Around the Globe: A Compendium Of Jones Day’s Five-part Series Published In 2023 And 2024

Class action procedures vary greatly among jurisdictions. These differences include how developed the procedures are; the types of claims parties can bring; the parties that can represent classes; whether classes are structured… more

Class Action, Class Certification, Class Representatives, Collective Actions, Corporate Counsel

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Shock and Law: UK Government's Surprise Proposal to Ban Upward-Only Rent Reviews

For years, upward-only rent reviews have been a cornerstone of the UK commercial property market, offering landlords and investors a reassuring degree of income security and predictability… more

Commercial Leases, Commercial Property Owners, Investors, Landlord and Tenant Acts, Landlords

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Fifth Circuit Rules that the CFPB's Funding Scheme Violates the Appropriations Clause

Fifth Circuit decision vacates a Consumer Financial Protection Bureau ("CFPB" or "Bureau") Payday Lending Rule because the Bureau's funding mechanism violates the Constitution's Appropriations Clause… more

Appropriation, Constitutional Challenges, Consumer Financial Protection Bureau (CFPB), Funding, Payday Lending Rule

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Uptiers in 2025: Impact of the Serta and Mitel Decisions on Liability Management Exercises

Late last year, the U.S. Court of Appeals for the Fifth Circuit and the Appellate Division of the Supreme Court of the State of New York issued important rulings regarding the validity of uptier “liability management exercises”… more

Appeals, Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy

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Mapping Out Rental Controls Across Europe

The term "Rent Controls" refers to measures designed to restrict the amount of rent that a landlord can charge a tenant for residential premises. Rent control measures appear in various forms across Europe, ranging from strict… more

Affordable Housing, Coronavirus/COVID-19, Eviction, Landlords, Rent

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Repositioning UK Office Assets—Risks and Opportunities: Best-in-Class vs. Out-of-Date

Over recent years, we have seen an office sector where occupiers are taking less space and using it in a different way in the United Kingdom, even when compared to five years ago. That trend, which was accelerated by the… more

Construction Project, Office Space, Private Equity, Real Estate Development, Real Estate Investments

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U.S. Supreme Court Invites Solicitor General to Submit Briefing on "Skinny Labels"

On June 23, 2025, the Supreme Court invited the Solicitor General to submit a brief expressing the views of the United States—dramatically increasing the likelihood that the Court will eventually grant review—in Hikma… more

Appeals, Food and Drug Administration (FDA), Induced Infringement, Patent Infringement, Patent Litigation

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2023 Securities Litigation Year in Review

During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings involving… more

Class Certification, Cryptocurrency, False Statements, Fiduciary Duty, Financial Institutions

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Belgium Enacts Historic Corporate Law Reform

The Background: On February 28, 2019, the Belgian Parliament approved a historic company law reform. The Result: The new Belgian Code of Companies and Associations ("BCCA") becomes applicable on May 1, 2019, with staggered… more

Belgium, Board of Directors, Corporate Counsel, Corporate Governance, Equity Financing

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Florida Governor Signs Sweeping Tort Reform Bill Into Law

On March 24, 2023, Florida Governor Ron DeSantis signed into law HB 837/SB 236, which is now in effect and will significantly impact tort cases… more

Governor DeSantis, Insurance Claims, Insurance Industry, Property Insurance, Tort Reform

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Landmark Enforcement Under U.S. CPSA Leads to Sentencing of Corporate Executives for Failure to Report Product Hazards

In June 2025, two former executives were each sentenced to more than three years in prison for conspiracy and failure to report hazardous products to the U.S. Consumer Product Safety Commission ("CPSC"), marking the first… more

Consumer Product Safety Act (CPSA), Consumer Product Safety Commission (CPSC), Corporate Counsel, Corporate Executives, Criminal Prosecution

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Carbon Capture Utilization and Storage in the United States

Jones Day released a White Paper titled, “CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making.” This White Paper is a continuation on that topic, covering carbon capture… more

Carbon Capture and Sequestration, Climate Change, Department of Energy (DOE), Energy Policy, Energy Projects

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U.S. Supreme Court Encourages Federal Rule 7(a)(7) Replies—A Potential Boon for Defendants

The U.S. Supreme Court recently reminded district courts that they may use Federal Rule of Civil Procedure 7(a)(7)—a little-known rule—to screen out meritless complaints before discovery… more

Counterclaims, Defense Strategies, Discovery, Dismissals, Federal Rules of Civil Procedure

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The UK, France, and Switzerland Form New Anti-Corruption Enforcement Task Force

On March 20, 2025, the UK's Serious Fraud Office ("SFO"), France's National Financial Prosecutor's Office ("PNF"), and the Office of the Attorney General of Switzerland ("OAG") announced the creation of a new task force to… more

Anti-Corruption, Bribery, Corporate Counsel, Corruption, Enforcement Actions

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Australian Reforms Tackle Psychosocial Hazards, Including Sexual Harassment, in the Workplace

In the wake of recent government inquiries into alleged bullying and harassment, including sexual harassment, in Australian workplaces, Australian legislatures and work health and safety regulators have become increasingly… more

Australia, Employer Liability Issues, Harassment, Sexual Harassment, Workplace Safety

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Global Enforcement And Asset Recovery Series - Article 1: Recognition And Enforcement Of Judgments And Arbitral Awards

Getting a judgment or award does not automatically mean getting paid. Particularly where judgment or award debtors are in less familiar jurisdictions, there can be a strong incentive to delay or avoid payment. From the… more

Arbitration, Arbitration Agreements, Arbitration Awards, Asset Recovery, Dispute Resolution

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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Shock and Law: UK Government's Surprise Proposal to Ban Upward-Only Rent Reviews

For years, upward-only rent reviews have been a cornerstone of the UK commercial property market, offering landlords and investors a reassuring degree of income security and predictability… more

Commercial Leases, Commercial Property Owners, Investors, Landlord and Tenant Acts, Landlords

See all updates »

Misleading or Deceptive Conduct Claims on Projects in Australia

A claim for misleading or deceptive conduct under s 18 of the Australian Consumer Law is one of the most commonly used causes of action in commercial litigation in Australia, including in disputes on major projects in mining,… more

Australia, Australian Consumer Law, Commercial Litigation, Construction Disputes, Deceptive Intent

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California Attorney General Signals CCPA Enforcement Priorities in $1.2 Million Sephora Settlement

On August 24, 2022, California Attorney General Rob Bonta announced his office's first privacy enforcement action and settlement against a publicly disclosed entity, Sephora, Inc., for violations of the CCPA, including the… more

California Consumer Privacy Act (CCPA), Consumer Privacy Rights, Cybersecurity, Data Privacy, Data Protection

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DIFC Courts Affirm Enforceability of Foreign Interim Arbitral Awards

In Neal v. Nadir [2024] DIFC A 001, the Dubai International Finance Centre ("DIFC") Court of Appeal held that provisional arbitration awards issued by tribunals seated outside the DIFC are enforceable within the DIFC. The… more

Arbitration, Arbitration Awards, Business Disputes, Business Litigation, DIFC

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DOJ and FTC Issue New Antitrust Guidelines for Business Activities Affecting Workers

During their last week in office, and over the vigorous dissent of Republican FTC commissioners, Biden administration antitrust officials unveil new guidelines intended to replace the 2016 Antitrust Guidance for Human Resources… more

Antitrust Provisions, Antitrust Violations, Department of Justice (DOJ), Employees, Employment Contract

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DIFC Courts Affirm Enforceability of Foreign Interim Arbitral Awards

In Neal v. Nadir [2024] DIFC A 001, the Dubai International Finance Centre ("DIFC") Court of Appeal held that provisional arbitration awards issued by tribunals seated outside the DIFC are enforceable within the DIFC. The… more

Arbitration, Arbitration Awards, Business Disputes, Business Litigation, DIFC

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Chile’s New Mining Royalty Law: What It Means for Foreign Investors

Since the 1990s, Latin American states have sought to attract large-scale foreign investment by implementing specific policies and regulatory regimes aimed at attracting investors from abroad. This trend has, however, recently… more

Chile, Foreign Investment, International Tax Issues, Mineral Exploration, Mineral Extraction

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2020 Anti-Money Laundering Year in Review

2020 witnessed a flurry of anti-money laundering activity, with the issues and developments continuing to be global in scope. In the United States, suspicious activity reports, outlining transactions involving terrorism finance… more

Anti-Money Laundering, Banking Sector, Beneficial Owner, Cross-Border Transactions, Financial Institutions

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Global Enforcement And Asset Recovery Series - Article 1: Recognition And Enforcement Of Judgments And Arbitral Awards

Getting a judgment or award does not automatically mean getting paid. Particularly where judgment or award debtors are in less familiar jurisdictions, there can be a strong incentive to delay or avoid payment. From the… more

Arbitration, Arbitration Agreements, Arbitration Awards, Asset Recovery, Dispute Resolution

See all updates »

China Unveils New Anti-Monopoly Guidelines for the Pharmaceutical Sector

China's State Council issued new Anti-Monopoly Guidelines for the Pharmaceutical Sector (the "Guidelines") effective January 24, 2025. The Guidelines provide a comprehensive framework for the State Administration for Market… more

Acquisition Agreements, Anti-Monopoly, Antitrust Provisions, China, Competition

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Employer Prevails in First Test of California's Newest Noncompete Law

In the first known case to challenge California's legislative attempt to void noncompete agreements even for employees who do not live or work in California, the First Circuit Court of Appeals upheld the application of… more

California, Choice-of-Law, DraftKings, Employees, Employer Liability Issues

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CFIUS Annual Report Touts an Increase in Penalties and Efficiency in Transaction Reviews

While the total number of filings declined in comparison to recent years, CFIUS's latest Annual Report to Congress highlights an uptick in penalties and an increased use of enforcement tools relating to national security-focused… more

Annual Reports, CFIUS, Civil Monetary Penalty, Foreign Investment, National Security

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ISDA Publishes Financial Power Purchase Agreement (FPPA) Template

Renewable power purchase agreements that do not require the physical delivery of energy between parties ("Financial Power Purchase Agreements" or "FPPAs") have been on the rise across the globe, leading many market participants… more

Derivatives, Energy Policy, ISDA, Power Purchase Agreements, Swaps

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France Releases Legal Framework for Renewable and Low-carbon Hydrogen

France has published an ordinance setting out the legal regime for hydrogen, aimed at fostering renewable and low-carbon hydrogen. Under ordinance n° 2021-167, dated February 17, 2021, three different types of hydrogen are… more

Electricity, Energy Sector, EU, France, Hydrogen Power

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Bill Seeks to Restrict 30-Month Stay in Hatch-Waxman Litigation to One Patent

Senate Bill S. 4878 seeks to force innovator pharmaceutical companies to select a single Orange Book listed patent for the 30-month stay… more

Abbreviated New Drug Application (ANDA), FDA Approval, Generic Drugs, Hatch-Waxman, Healthcare

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Supreme Court Holds Proof of Retaliatory Intent Not Required for Sarbanes-Oxley Whistleblower Claims

The Background: In August 2022, the United States Court of Appeals for the Second Circuit held in Murray v. UBS Securities, LLC., et al. ("Murray") that an employee suing his employer under the anti-retaliation provisions of the… more

Adverse Employment Action, Anti-Retaliation Provisions, Burden of Proof, Certiorari, Employees

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Navigating Insurance for the Los Angeles Wildfires: What You Need to Know

The Los Angeles wildfires, which began on January 7, 2025, have caused widespread devastation, destroying homes, businesses, and communities, while displacing thousands of residents. Insured loss estimates currently exceed $30… more

Business Interruption, California, Insurance Claims, Insurance Litigation, Insurance Regulations

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New "Beginning of Construction" Guidelines Issued for Wind and Solar Tax Credits

The Internal Revenue Service ("IRS") has issued Notice 2025-42 to implement the One Big Beautiful Bill Act ("OBBBA") mandate to phase out the clean electricity production tax credit (§ 45Y) and investment tax credit (§ 48E) for… more

Clean Energy, Construction Project, Energy Projects, Federal Budget, Internal Revenue Code (IRC)

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Vital Signs: Digital Health Law Update | Winter 2024

Welcome to Vital Signs, a curated compilation of the latest legal and regulatory developments in digital health. Our lead article reports on HHS' recent final rule on the confidentiality of substance use disorder patient… more

Consent, Data Privacy, Data Security, DEA, Department of Health and Human Services (HHS)

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FinCEN Clarifies Application of Beneficial Ownership Reporting Rules to Dissolved Entities

Reporting companies should take note of a recent clarification by the Financial Crimes Enforcement Network ("FinCEN") that the Beneficial Ownership Information ("BOI") Rule requires reporting companies that exist on or after… more

Beneficial Owner, Dissolution, Filing Deadlines, Financial Crimes, Financial Regulatory Reform

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Federal Circuit Clarifies Scope of Patent Owner Estoppel

The Federal Circuit recently issued a decision in SoftView LLC v. Apple Inc. clarifying the scope of patent owner estoppel set forth in 37 C.F.R. § 42.73(d)(3)(i). 2024 WL 3543902 (Fed. Cir. July 26, 2024). The regulation… more

Apple, Estoppel, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement

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Landmark Enforcement Under U.S. CPSA Leads to Sentencing of Corporate Executives for Failure to Report Product Hazards

In June 2025, two former executives were each sentenced to more than three years in prison for conspiracy and failure to report hazardous products to the U.S. Consumer Product Safety Commission ("CPSC"), marking the first… more

Consumer Product Safety Act (CPSA), Consumer Product Safety Commission (CPSC), Corporate Counsel, Corporate Executives, Criminal Prosecution

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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Capital Markets, EU, European Banking Authority (EBA), European Commission

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USPTO Issues New Guidance on Practitioners' Use of AI

The USPTO's April 11, 2024, guidance clarifies how existing USPTO rules apply to the use of AI by practitioners when interacting with the USPTO… more

Algorithms, Artificial Intelligence, Machine Learning, New Guidance, Patents

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Maximizing Insurance Recoveries for Hurricane Ian Losses and the Remainder of the 2022 Hurricane Season

In Short - The Situation: On September 28, 2022, Hurricane Ian made landfall on Florida and tied for the fifth-strongest hurricane ever to hit the continental United States, with total insured losses estimated in the tens… more

Hurricane Season, Insurance Industry, Natural Disasters, Property Damage, Property Insurance

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Spain Approves New Foreign Direct Investment Regulation

In Short - The Development: The Spanish government adopted a new foreign direct investment ("FDI") implementing regulation ("Regulation") that clarifies key concepts of the existing law, such as investment, investors, and… more

EU, Foreign Direct Investment, Foreign Investment, New Regulations, Spain

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Battling Boredom While Building Virtual Cities: PTAB Denies Claims as Patent-Ineligible

Video game companies occasionally will take to the PTAB, seeking to invalidate each other’s patents. Mobile game developer Supercell Oy (petitioner) filed a Post Grant Review (“PGR) after learning that the USPTO issued U.S… more

Abstract Ideas, Claim Limitations, Computer-Related Inventions, Inventive Concept Test, Patent-Eligible Subject Matter

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FTC Proposes to Impose Sweeping Restrictions on Tech Company's Ability to Profit From Youth Data

On May 3, 2023, the Federal Trade Commission ("FTC") issued an Order to Show Cause against Meta for alleged violations of Meta's 2012 and 2020 privacy orders and seeks to bar the company from monetizing data related to… more

Data Collection, Data Privacy, Data Protection, Data Security, Federal Trade Commission (FTC)

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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Extraterritorial Reach of Italian/UK FDI Rules: Are In-Country Sales Sufficient Nexus?

In two recent decisions in the defense and national security sector, the Italian Foreign Direct Investment Authority ("FDI Authority") asserted jurisdiction in connection with two acquisitions of non-Italian companies that had… more

Defense Sector, Extraterritoriality Rules, Foreign Direct Investment, Government Agencies, Investors

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SEC Adopts Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure

In Short - The Situation: On July 26, 2023, the U.S. Securities and Exchange Commission ("SEC") adopted final rules that significantly alter cybersecurity disclosure obligations for companies. The SEC's final rules adopt… more

Corporate Governance, Cyber Attacks, Cyber Incident Reporting, Cybersecurity, Disclosure Requirements

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D.C. District Court Vacates 60-Day Medicare Advantage Overpayment Rule

The Situation: In 2016, several Medicare Advantage ("MA") organizations challenged a 2014 final rule promulgated by the Center for Medicare Services ("CMS") that broadly subjected MA organizations to potential liability under… more

Administrative Procedure Act, Affordable Care Act, Appeals, Centers for Medicare & Medicaid Services (CMS), False Claims Act (FCA)

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Road Mapping Leads to Dead End

On April 25, 2024, the PTAB denied Masimo Corporation’s (“Petitioner’s”) second petition for inter partes review (“IPR”) against U.S. Patent No. 10,076,257 (the “’257 patent”). Masimo Corp. v. Apple Inc., IPR2024-00071, Paper 7… more

Apple, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation

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2022 False Claims Act Statistics Reveal More New Cases and More Settlements (But Lower Total Recoveries)

In Short: - The Situation: The United States Department of Justice ("DOJ") recently issued statistics and a related press release regarding its fiscal year ("FY") 2022 enforcement activity under the False Claims Act… more

Department of Justice (DOJ), False Claims Act (FCA), Federal Contractors, Fraud, Whistleblowers

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Business Restructuring Review Vol. 24, No. 3 | May–June 2025

Bankruptcy trustees and chapter 11 debtors-in-possession (“DIPs”) frequently seek to avoid fraudulent transfers and obligations under section 544(b) of the Bankruptcy Code and state fraudulent transfer or other applicable… more

Bankruptcy Code, Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Commercial Bankruptcy

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Questions Remain as Supreme Court Restricts § 1782 Discovery in Private International Arbitrations

In Short - The Situation: Section 1782 of Title 28 of the U.S. Code authorizes U.S. district courts to order discovery "for use in a proceeding in a foreign or international tribunal." Over the last several years, U.S… more

28 U.S.C. § 1782, Arbitration, Discovery, Foreign Tribunals, International Arbitration

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Singapore Passes Its First Anti-Discrimination Law

Singapore has passed the country's first law designed to protect workers against discrimination and penalize employers who discriminate… more

Anti-Discrimination Policies, Disability Discrimination, Diversity and Inclusion Standards (D&I), Employees, Employment Discrimination

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Innovative Insights: Legal Updates in Life Sciences | First Quarter 2025

Artificial intelligence is revolutionizing life science R&D (particularly in the realm of drug discovery) and challenging the traditional "human inventorship" requirement for U.S. patents. Recent guidance from the USPTO… more

Artificial Intelligence, Drug Pricing, Earn-Outs, Federal Funding, Foreign Aid

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Qualified Small Business Stock Benefits Expanded in New Tax Bill

The One Big Beautiful Bill Act expands the qualified small business stock benefits available to founders and investors… more

Federal Budget, Internal Revenue Code (IRC), Investors, IRS, New Legislation

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The Impact of a Second Trump Presidency on SEC Enforcement Priorities

A new presidential administration is likely to bring change across the federal government, perhaps nowhere more starkly than at the Securities and Exchange Commission ("SEC"), which has greatly expanded its enforcement reach… more

Enforcement Guidance, Financial Markets, Investment, Investors, Publicly-Traded Companies

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Delaware Court Rejects Application of D&O Policy's "Bump-Up" Exclusion to Securities Claim Settlement

In a significant victory for policyholders, the Delaware Superior Court rejected three insurers' attempts to apply their Directors and Officers Liability ("D&O") policies' so-called "bump-up" exclusion to bar coverage for… more

Acquisition Agreements, Commercial Insurance Policies, Contract Terms, Corporate Governance, D&O Insurance

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FTC Seeks to Strengthen Privacy Protections of Children Online

On December 20, 2023, the Federal Trade Commission ("FTC") announced a Notice of Proposed Rulemaking ("NPRM") to revise the Children's Online Privacy Protection Act ("COPPA") Rule to reduce the amount of information collected,… more

Comment Period, COPPA, Cybersecurity, Data Privacy, Data Protection

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CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making

Carbon capture utilization and storage (“CCUS”) refers to technologies that enable carbon dioxide (“CO2”) emissions from industrial sources to be captured and either used in a way that limits or prevents them from being emitted… more

Asia Pacific, Association of Southeast Asian Nations (ASEAN), Carbon Capture and Sequestration, Climate Change, Energy Policy

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Earnout Provisions: When Litigation Arises and How to Avoid It

The use of earnout provisions, which buyers and sellers often use to bridge differing views of value, is on the rise, especially in the private equity and corporate venture capital markets. This White Paper examines how courts… more

Acquisition Agreements, Buyers, Earn-Outs, Federal Arbitration Act, Merger Agreements

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FDA Directed to Explore Elimination of Food Additive "Loophole"

Secretary Kennedy seeks to enhance FDA's oversight of food additives by eliminating a pathway that allows new ingredients to be introduced into the U.S. food supply without premarket notification to or approval by FDA… more

Consumer Protection Laws, Department of Health and Human Services (HHS), Final Rules, Food and Drug Administration (FDA), Food Safety

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USPTO Acting Director Denies IPR Institution Based on "Settled Expectations"

Under a new U.S. Patent and Trademark Office ("USPTO") policy issued in March 2025, pre-institution inter partes review ("IPR") proceedings are now bifurcated, consisting of a first phase in which the director considers… more

Hatch-Waxman, Intellectual Property Litigation, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Orange Book

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Orders of Magnitude: President Trump Reshapes Energy and Environmental Landscape Through Executive Orders

Among the 37 executive orders signed by President Trump in his first week in office, there are several that address the regulation of energy and the environment. While it may be too soon to know the lasting effect of these… more

Climate Change, Energy Policy, Energy Sector, Environmental Policies, Executive Orders

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Delaware Court Applies Traditional Entire Fairness Standard to Very Large Stockholder-Approved, Performance-Based Equity Award

The Case: A Tesla stockholder sued Tesla's board of directors to rescind a performance-based stock option grant awarded to Elon Musk, Tesla's CEO. The option award was worth a total of $56 billion and offered the opportunity to… more

Board of Directors, Compensation & Benefits, Controlling Stockholders, Corporate Counsel, DE Supreme Court

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Landmark Climate Change Case Overturned: The Hague Court of Appeals Overturns Ruling Ordering Shell to Reduce CO2 Emissions

On November 12, 2024, The Hague Court of Appeals overturned the landmark climate change litigation case that imposed a 45% CO2 reduction obligation on Shell… more

Appeals, Carbon Emissions, Climate Change, Environmental Policies, Greenhouse Gas Emissions

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Significant Reforms on the Horizon for Security of Payment in Victoria’s Construction Industry

Like similar regimes in other States, the Building and Construction Industry Security of Payment Act 2002 (VIC) (“Victorian SOPA”) was intended to reduce insolvency in the construction industry and enhance cash flow for… more

Australia, Conditions of Payment, Construction Contracts, Construction Project, Contract Terms

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Navigating Tariffs and Income Taxes and Transfer Pricing

In this new trade landscape, it is more important than ever to coordinate customs and operational planning with income taxes and transfer pricing… more

Customs, First Sale Doctrine, Foreign Policy, Foreign Relations, Goods or Services

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Delaware Court Holds Rejection Eliminates Non-Debtor's Exclusive Right to Provide Services to the Debtor

Nine Point Energy Holdings, Inc. and its affiliates (collectively, "Nine Point" or "Nine Point debtors") constituted an oil and gas production and exploration company that sought to reorganize in chapter 11 through a going… more

Bankruptcy Court, Breach of Contract, Chapter 11, Commercial Bankruptcy, Debtors

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Extraterritorial Reach of Italian/UK FDI Rules: Are In-Country Sales Sufficient Nexus?

In two recent decisions in the defense and national security sector, the Italian Foreign Direct Investment Authority ("FDI Authority") asserted jurisdiction in connection with two acquisitions of non-Italian companies that had… more

Defense Sector, Extraterritoriality Rules, Foreign Direct Investment, Government Agencies, Investors

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Pleading Patent Infringement in the United States: Evolving Standards

The Situation: Federal Rule of Civil Procedure 84, which permitted U.S. patent-infringement lawsuits to proceed on very general allegations, was withdrawn three years ago. Subsequent court decisions have considered how much… more

Direct Infringement, Federal Pleading Requirements, Federal Rules of Civil Procedure, Form 18, FRCP 84

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Regional Shake-Up or More of the Same? How the USMCA Impacts North American Trade

The Situation: The United States, Canada, and Mexico recently reached an agreement in principle to revise and replace the North American Free Trade Agreement ("NAFTA") with the United States-Mexico-Canada Agreement… more

Agricultural Sector, Automotive Industry, Canada, Corporate Counsel, Cross-Border Transactions

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Industrial Decarbonization as a Key Element of French Government's Recovery Plan

On September 3, 2020, the French Prime Minister unveiled the priorities and milestones of France's Recovery Plan to address the economic effects of the COVID-19 pandemic. Based on three main pillars—ecology, competitiveness, and… more

Carbon Emissions, Climate Change, Energy Efficiency, Environmental Policies, Fossil Fuel

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Civil Justice Council Recommends "Light Touch" Regulation of Litigation Funding in United Kingdom

The Civil Justice Council ("CJC") has published its final report, recommending that the UK government regulate litigation funding and pass legislation to enable funders to be remunerated by way of a percentage of any damages… more

Appeals, Class Action, Damages, Disclosure Requirements, Government Agencies

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Global Enforcement And Asset Recovery Series - Series Article 2: Asset Disclosure

In the context of asset recovery, a successful outcome largely depends on the ability of a claimant to garner sufficient disclosure of assets that are amenable to enforcement. This, in turn, explains why the powerful injunctive… more

Asset Recovery, Corporate Structures, Criminal Prosecution, Debtors, Disclosure Requirements

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Rising Fraudulent Claims Submitted to Class Action Settlement Funds Heighten Settlement Risk

Consumers frequently receive only a paltry fraction of class action settlement funds, which are instead doled out to plaintiffs’ lawyers, cy pres recipients, and administrators. Now this problem is compounded by a recent… more

Class Action, Class Action Settlement, Class Members, Cy Pres Funds, Fund Distribution

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CMS Finalizes The Increasing Organ Transplant Access Model

The Increasing Organ Transplant Access Model ("IOTA Model") introduces mandatory financial incentives and penalties for selected kidney transplant hospitals… more

Anti-Kickback Statute, Centers for Medicare & Medicaid Services (CMS), Final Rules, Healthcare, Hospitals

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Proposed IRS Regulations on Tax Credits for Renewable-Energy Investments Include Wage and Apprenticeship Requirements

In Short - The Background: The Inflation Reduction Act provides for robust tax incentives on qualifying renewable-energy construction projects. In order to claim the full amount of such tax credits on qualifying projects,… more

Apprenticeships, Clean Energy, Comment Period, Construction Workers, Davis-Bacon Act

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Michigan Senate Votes to Repeal Pharmaceutical Immunity From Product Liability Suits

The Michigan Senate recently passed a bill to repeal a long-standing state law immunizing pharmaceutical manufacturers and sellers from product liability suits where the pharmaceutical products were approved by the U.S. Food and… more

Design Defects, Failure To Warn, FDA Approval, Implied Warranties, Manufacturing Defects

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Antitrust Alert: CEO Indicted for Seafood Price-Fixing

The U.S. Department of Justice indicted Bumble Bee Foods CEO Christopher Lischewski on price-fixing charges. Lischewski is the first CEO to be charged for his role in the alleged U.S. conspiracy to fix the price of packaged… more

Antitrust Investigations, Antitrust Violations, Corporate Criminal Fines, Criminal Antitrust Litigation, Department of Justice (DOJ)

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CMS Innovation Center Announces Cost-Saving Restructuring of Value-Based Payment Model Portfolio

The Center for Medicare and Medicaid Services ("CMS") has announced significant changes to its value-based payment model portfolio projected to save $750 million as part of a shift in the agency's refocused strategy toward… more

Centers for Medicare & Medicaid Services (CMS), Government Agencies, Health Insurance, Healthcare, Healthcare Reform

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Extraterritorial Reach of Italian/UK FDI Rules: Are In-Country Sales Sufficient Nexus?

In two recent decisions in the defense and national security sector, the Italian Foreign Direct Investment Authority ("FDI Authority") asserted jurisdiction in connection with two acquisitions of non-Italian companies that had… more

Defense Sector, Extraterritoriality Rules, Foreign Direct Investment, Government Agencies, Investors

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Supreme Court Rules California Cannot Force Nonprofits to Disclose Donors

The U.S. Supreme Court strikes down California law requiring charitable organizations to disclose their donors to the state. On July 1, 2021, the U.S. Supreme Court in Americans for Prosperity Foundation (AFP) v. Bonta held that… more

Americans for Prosperity Foundation (AFP) v. Bonta, Charitable Donations, Charitable Organizations, First Amendment, Freedom of Association

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Global Spotlight on Labor Trafficking in Health Care and Corporate Supply Chains

Courts and legislatures both in the United States and abroad continue to prioritize the eradication of labor trafficking in corporate supply chains, including those in the health care industry. For example, in the United States,… more

Alien Tort Statute, Child Labor, Due Diligence, Forced Labor, Human Rights

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Motivation to Modify Prior Art Need Not Be the Same as Challenged Patent

Honeywell filed a petition for inter partes review of 3G Licensing’s U.S. Patent No. 7,319,718, which claims a coding scheme for transmitting information in 3G mobile communication systems. The PTAB found none of the challenged… more

Anticipation, Intellectual Property Litigation, Inter Partes Review (IPR) Proceeding, Obviousness, Patent Invalidity

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Real Insight - Issue 1 2025

INTRODUCTION - Welcome to the first edition of Real Insight, our new UK real estate update. Among the subjects covered in this edition are the emerging success of data centres in the planning system, continuation funds, the… more

Commercial Leases, Construction Industry, Construction Project, Data Centers, Easements

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HHS-OIG Issues FAQ Guidance Related to Pharmacy Benefit Manager Arrangements

The U.S. Department of Health and Human Services, Office of Inspector General ("OIG") has provided insight into the applicability of the discount and group purchasing organization safe harbors to payments retained by pharmacy… more

Department of Health and Human Services (HHS), Group Purchasing Organizations (GPO), Healthcare, OIG, Pharmacy Benefit Manager (PBM)

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Business Restructuring Review Vol. 24, No. 2 | March–April 2025

Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision… more

Assignments, Bankruptcy Court, Chapter 11, Chapter 15, Comity

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Florida Governor Signs Sweeping Tort Reform Bill Into Law

On March 24, 2023, Florida Governor Ron DeSantis signed into law HB 837/SB 236, which is now in effect and will significantly impact tort cases… more

Governor DeSantis, Insurance Claims, Insurance Industry, Property Insurance, Tort Reform

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Qualified Small Business Stock Benefits Expanded in New Tax Bill

The One Big Beautiful Bill Act expands the qualified small business stock benefits available to founders and investors… more

Federal Budget, Internal Revenue Code (IRC), Investors, IRS, New Legislation

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PTAB Reiterates Strict Evidentiary Standard for Printed Publications

The PTAB denied institution of inter partes review (IPR) for a patent directed to geothermal technology. Fervo Energy Co. v. Ormat Techs. Inc., IPR2014-00665, Paper 18 (PTAB Sept. 18, 2024). The claimed invention related to… more

Evidentiary Standards, Geothermal Energy, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement

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Patent Linkage and Article 76 Proceedings in China: A Litigator's Perspective

China has recently unveiled its own version of a patent linkage system that has been highly watched by stakeholders and industry observers.  This new system will also create a new form of pharmaceutical patent litigation in… more

Biotechnology, China, CNIPA, Corporate Counsel, Generic Drugs

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EMIR 3 Published in the Official Journal of the European Union

EMIR 3, published in the Official Journal of the EU on December 4, 2024, introduces substantive changes to the existing clearing framework and margining exemptions under the EMIR Regulation… more

EMIR, EU, European Securities and Markets Authority (ESMA), Financial Markets, Securities Regulation

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French Anticorruption Agency Publishes 2022 Annual Activity Report

On July 18, 2023, the French Anticorruption Agency ("FAA") published its 2022 annual activity report. The report detailed key figures related to the inspections carried out by the agency, as well as the lessons to be learned… more

Anti-Corruption, Corruption, France, Whistleblowers

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Australian Treasury Reports Faster Foreign Investment Application Processing Amidst Increased Focus on Compliance and Enforcement

The Australian Treasury, which administers Australia's foreign investment framework, has released its first quarterly report for the 2024-25 financial year. Here are some key statistics and trends from the report. Treasury… more

Compliance, Enforcement Actions, Financial Regulatory Reform, Foreign Investment, Investment

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ICJ Issues Advisory Opinion on States' Legal Obligations Regarding Climate Change

The International Court of Justice ("ICJ") stated that States have legal obligations to regulate emissions and may be held internationally responsible for climate inaction—including the failure to effectively regulate greenhouse… more

Carbon Emissions, Climate Change, Environmental Policies, Greenhouse Gas Emissions, Human Rights

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Controlling Stockholder Exercising Voting Power as Stockholder to "Change the Status Quo" Owes Fiduciary Duties

The Background: After unsuccessfully trying to convince the special committee not to implement a plan to liquidate a business line, which the controlling stockholder believed would destroy value, the controlling stockholder used… more

Board of Directors, Bylaws, Controlling Stockholders, Fiduciary Duty, Minority Shareholders

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Federal Circuit Provides Framework for Establishing Venue in Patent Cases

This past week, the U.S. Court of Appeals for the Federal Circuit issued its decision in In re Cray, providing guidance on application of the patent venue statue. In granting a writ of mandamus and transferring the case from the… more

Appeals, Patent Infringement, Patent Litigation, Patents, Personal Jurisdiction

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Georgia Enacts Major Tort Reform Legislation

The new law affects various aspects of civil litigation, including negligent security cases, damages, evidentiary matters, civil practice, and third-party litigation funding… more

Attorney's Fees, Damages, Discovery, Georgia, Liability

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Crypto Exchange-Traded Products: Navigating the Intersection of Crypto and Securities

Direct ownership of crypto-assets or mere exposure to the value of crypto-assets is an investment decision, with both investment methods requiring specific approaches to mitigate and manage risks effectively… more

Cryptoassets, EU, Exchange-Traded Products, Financial Conduct Authority (FCA), Financial Markets

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Sustainability Obligations for Spanish Data Centers

The draft Royal Decree on the sustainability and energy efficiency of data centers will be subject to public consultation until 15 September 2025… more

Data Centers, Energy Policy, Environmental Policies, EU, Permits

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Impact on Banking Transactions of New Belgian Code of Companies and Associations

The Situation: The new Belgian Code of Companies and Associations ("BCCA") which enters into force on May 1, 2019, will significantly impact banking transactions involving Belgian companies. The Result: The BCCA introduces… more

Banking Sector, Belgium, Capital Requirements, EU, Lenders

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Global Merger Control Update 2020

Merger control enforcement continues to surge around the world and reaches well beyond the largest and traditionally most active enforcers (e.g., United States, European Commission, China, and Brazil). Beyond these countries,… more

Acquisitions, Anti-Competitive, Antitrust Provisions, Belgium, Chile

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Mexican Government Releases "Plan México"

The Mexican government recently launched the Mexico Plan (Plan México), a six-year strategy in collaboration with the federal government and the private sector intended to promote economic growth in Mexico… more

Automotive Industry, Biotechnology, Clean Energy, Economic Development, Energy Sector

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Employee Stock Plans: International Reporting Requirements (UPDATED)

This White Paper highlights some of the principal annual or quarterly reporting requirements for employee stock plans that multinational companies most commonly encounter when offering these programs to their employees in… more

Compensation & Benefits, Employee Benefits, Employee Stock Purchase Plans, Multinationals, Regulatory Requirements

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Directors Beware: How to Navigate Belgium's Latest Tort Liability Changes

The Situation: Tort liability rules for directors in Belgium changed significantly following the recent publication of a new Book 6 of the Civil Code. The new rules will enter into force on January 1, 2025… more

Belgium, Board of Directors, Civil Code, Liability, New Rules

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European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

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French Supreme Court Sets New Boundary to Liability Toward Third Parties

The Situation: The French Supreme Court recently considered whether a limitation of liability clause could be enforced against a third party to a contract claiming compensation for a breach of contract that caused it damage… more

Breach of Contract, Business Litigation, Contract Disputes, Contract Terms, EU

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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Anti-Corruption Regulation Survey of 42 Countries 2019

Welcome to the 2019 edition of the Jones Day Anti-Corruption Regulation Survey of Select Countries. Since the 2017–2018 edition of this Survey, there has continued to be an increasing awareness among multinational companies of… more

Anti-Bribery, Anti-Corruption, Chief Compliance Officers, Compliance, Compliance Management Systems

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European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

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Innovative Insights: Legal Updates in Life Sciences | First Quarter 2025

Artificial intelligence is revolutionizing life science R&D (particularly in the realm of drug discovery) and challenging the traditional "human inventorship" requirement for U.S. patents. Recent guidance from the USPTO… more

Artificial Intelligence, Drug Pricing, Earn-Outs, Federal Funding, Foreign Aid

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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Georgia Limits Liability for Pesticide Manufacturers

This week, Georgia's governor signed a new pesticide labeling and liability act (SB 144) ("Act"), amending state law to limit the scope of pesticide manufacturer liability for failure to warn and aligning the state standards… more

Agribusiness, Environmental Policies, Environmental Protection Agency (EPA), Failure To Warn, FIFRA

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Current Trends: Discovery of Electronically Stored Information on Mobile Devices and Social Media

The rise of mobile technology and the pervasiveness of social media have introduced new questions regarding a corporation's preservation responsibilities pertaining to electronically stored information ("ESI") and to its… more

Data Preservation, Discovery, e-Discovery Professionals, Electronically Stored Information, Information Governance

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FinCEN Clarifies Application of Beneficial Ownership Reporting Rules to Dissolved Entities

Reporting companies should take note of a recent clarification by the Financial Crimes Enforcement Network ("FinCEN") that the Beneficial Ownership Information ("BOI") Rule requires reporting companies that exist on or after… more

Beneficial Owner, Dissolution, Filing Deadlines, Financial Crimes, Financial Regulatory Reform

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France Adopts Reindustrialization Measures

In Short - The Situation: A new set of measures has been adopted in France which will promote "Green Industry" by streamlining environmental and industrial authorization and supporting low-carbon industrialization projects… more

Climate Action Plan, Construction Project, Environmental Policies, France, Green Buildings

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European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

See all updates »

Florida Governor Signs Sweeping Tort Reform Bill Into Law

On March 24, 2023, Florida Governor Ron DeSantis signed into law HB 837/SB 236, which is now in effect and will significantly impact tort cases… more

Governor DeSantis, Insurance Claims, Insurance Industry, Property Insurance, Tort Reform

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EU Institutions Agree On CBAM Modifications

On June 18, 2025, the presidency of the EU Council and representatives of the European Parliament agreed on substantial changes to the EU's carbon border adjustment mechanism (CBAM)… more

Carbon Emissions, Environmental Policies, EU, European Parliament, Goods or Services

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U.S. Supreme Court Clarifies TCPA's Definition of "Autodialer"

The ruling should limit the FCC's ability to rewrite the statute through administrative action. In Facebook, Inc. v. Duguid, the Supreme Court resolved the interpretive question at the heart of the swarm of litigation under… more

ATDS, Auto-Dialed Calls, Facebook, Facebook Inc v Duguid, FCC

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Four Ways to Protect Your Cyber Insurance in Today’s Challenging Market

In Short: The Situation: The cyber insurance market is experiencing a major retrenchment, with insurers seeking to limit their exposure in a variety of ways… more

Consumer Insurance Products, Cyber Attacks, Cyber Insurance, Cybersecurity, Data Breach

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New Guidance on the Commercial EV Tax Credit

In one of their final sets of guidance under President Biden, the Department of Treasury and the IRS released proposed regulations for the tax credit under Section 45W, which is available for purchasing electric vehicles for… more

Automotive Industry, Biden Administration, Clean Energy, Electric Vehicles, Inflation Reduction Act (IRA)

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The Climate Report | Fourth Quarter 2024

New ESG regulations are expected to have a significant impact on disclosure and governance obligations for EU and non-EU companies alike, including extensive sustainability reporting and due diligence requirements on… more

Carbon Emissions, Climate Action Plan, Climate Change, Coal Mines, Energy Policy

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SEC Settles Charges with Keurig Over ESG Disclosures

On September 10, 2024, the SEC settled charges against Keurig for "incomplete and inaccurate" ESG disclosures about the recyclability of Keurig's K-Cup pods, signaling a continued focus on environmental-related disclosures… more

Climate Change, Disclosure Requirements, Enforcement Actions, Environmental Social & Governance (ESG), Keurig Inc

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Uptiers in 2025: Impact of the Serta and Mitel Decisions on Liability Management Exercises

Late last year, the U.S. Court of Appeals for the Fifth Circuit and the Appellate Division of the Supreme Court of the State of New York issued important rulings regarding the validity of uptier “liability management exercises”… more

Appeals, Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy

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Antitrust/M&A - Year-in-Review 2024

2024 was a significant year for merger enforcement worldwide. In the United States, the Biden administration continued the aggressive approach reflected in the revamped Merger Guidelines issued in December 2023. In Europe, the… more

Acquisition Agreements, Anti-Competitive, Antitrust Provisions, Competition, Corporate Sales Transactions

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White House Opens Door to Broader Inclusion of Alternative Assets in Defined Contribution Retirement Plans

A hotly anticipated August 7, 2025, executive order, "Democratizing Access to Alternative Assets for 401(k) Investors" ("EO"), aims to reduce regulatory barriers and significantly expand access to "alternative assets"—including… more

401k, Compensation & Benefits, Defined Contribution Plans, Department of Labor (DOL), Digital Assets

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Global Enforcement And Asset Recovery Series - Series Article 2: Asset Disclosure

In the context of asset recovery, a successful outcome largely depends on the ability of a claimant to garner sufficient disclosure of assets that are amenable to enforcement. This, in turn, explains why the powerful injunctive… more

Asset Recovery, Corporate Structures, Criminal Prosecution, Debtors, Disclosure Requirements

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Orders to Preserve Evidence (“Saisies”) at the Unified Patent Court: Two-Year Roundup and Early Insights

Evidence is a key battleground in virtually all patent litigation cases. As a Court designed to combine the best and most efficient features of the main EU national patent litigation systems, the Unified Patent Court (“UPC”)… more

Data Preservation, Dawn Raids, Discovery, Duty to Preserve, EU

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Patent Appendix That Was Referenced, But Not Incorporated, Is Not Prior Art

In Apple Inc. v. DoDots Licensing Sols. LLC, IPR2023-00939, Paper 12 (PTAB Jan. 3, 2024) (“Decision”), the PTAB clarified what is and what is not part of the prior art, and as such what can be considered by the PTAB in an IPR… more

Apple, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Applications, Patent Infringement

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Developments in Crypto Regulation: DeFi Tax Reporting Repeal and SEC Disclosure Guidance

The Trump administration continues its efforts to relax digital asset regulation, including most recently by exempting decentralized finance ("DeFi") apps and wallets from tax reporting and through Securities and Exchange… more

Cryptocurrency, Decentralized Finance (DeFi), Digital Assets, Disclosure Requirements, Financial Regulatory Reform

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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Ex Parte Reexamination Barred Based on Earlier IPR

On November 16, 2022, the United States Patent and Trademark Office (“PTO”) vacated a reexamination proceeding because the patent challenger relied on unpatentability grounds that reasonably could have been raised in an earlier… more

Ex Partes Reexamination, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patents

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Cancellation of Claims Deemed An Inappropriate Sanction

USPTO Acting Director Stewart sua sponte reconsidered and modified a previous Director Review decision that had affirmed cancellation of all 183 challenged claims as a sanction against patent owner Longhorn Vaccines. Spectrum… more

Administrative Proceedings, Duty of Candor, Inter Partes Review (IPR) Proceeding, Legal Ethics, Life Sciences

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FTC Finalizes Amendments to the Children's Online Privacy Protection Act Rule

On April 22, 2025, the Federal Trade Commission ("FTC") published the finalized amendments to the Children's Online Privacy Protection Act ("COPPA") Rule (the "Rule"), marking the first major update since 2013… more

COPPA, Data Privacy, Federal Trade Commission (FTC), FERPA, Final Rules

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EU Anti-SLAPP Directive: Public Participants May Claim Compensation for Strategic Litigation Outside EU

The European Union's Directive 2024/1069 (the "Directive") aims to protect individuals and organizations engaged in public participation (such as NGOs, journalists and academics) from strategic lawsuits against public… more

Anti-SLAPP, Damages, EU, EU Directive, International Litigation

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Unraveling the Forced Labor Stitched Into the Textile Industry

The Department of Homeland Security ("DHS") recently announced an enhanced strategy to combat illicit trade in the textile industry, including violations of the Uyghur Forced Labor Prevention Act ("UFLPA")… more

Customs and Border Protection, Department of Homeland Security (DHS), Forced Labor, Supply Chain, Textiles

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Clean Fuel of the Future: Policy and Legislation Shaping Australia’s Hydrogen Industry

In recent years, the Australian federal government has committed, at both the domestic and international levels, to ambitious renewable energy targets. Australia’s hydrogen sector is positioning itself to play an increasingly… more

Alternative Fuels, Australia, Clean Energy, Climate Action Plan, Climate Change

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European Commission Proposes To Postpone The Due Diligence Obligations For Batteries

On May 21, 2025, the European Commission filed a proposal to postpone the implementation of the due diligence obligations in Regulation 2023/1542, concerning batteries and waste batteries (the “EUBR”). The proposal would push… more

Batteries, Compliance Dates, Corporate Governance, Due Diligence, Environmental Policies

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U.S. Supreme Court Ends Heightened Evidentiary Hurdle for "Majority Group" Plaintiffs in Title VII Discrimination Cases

On June 5, 2025, the Supreme Court decided Ames v. Ohio Department of Youth Services and held that a "majority group" plaintiff in a Title VII case need not satisfy a heightened evidentiary burden to establish a prima-facie case… more

Ames v Ohio Department of Youth Services, Disparate Treatment, Employment Discrimination, Employment Litigation, Evidentiary Standards

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Business Restructuring Review Vol. 24, No. 4 | July–August 2025

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once the… more

Appeals, Bankruptcy Code, Bankruptcy Court, Borrowers, Chapter 11

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Australian Treasury Reports Faster Foreign Investment Application Processing Amidst Increased Focus on Compliance and Enforcement

The Australian Treasury, which administers Australia's foreign investment framework, has released its first quarterly report for the 2024-25 financial year. Here are some key statistics and trends from the report. Treasury… more

Compliance, Enforcement Actions, Financial Regulatory Reform, Foreign Investment, Investment

See all updates »

Immigration Enforcement Directives Create New Hurdles for Hospitals Advancing Standard Patient Care

While hospitals will no longer be formally considered sensitive locations under new immigration directives, health care facilities and providers maintain responsibility to protect access to patient care and confidentiality… more

Data Privacy, Department of Homeland Security (DHS), EMTALA, Enforcement Actions, Health Care Providers

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Generative Artificial Intelligence and the Requirements of Open Source Software Licenses

Recently filed litigation against Microsoft Corporation, GitHub, Inc., and various OpenAI entities ("Defendants") highlights new challenges that generative artificial intelligence ("AI") presents and risks associated with open… more

Artificial Intelligence, Compliance, DMCA, GitHub, Machine Learning

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Bridging the Gap: Supply Shortfalls and Soaring Demand in the UK Build-to-Rent Sector

The UK faces a significant housing crisis due to an acute shortage of homes caused by high capital costs, increasing construction and development expenses, regulatory and political uncertainty, and persistent delays in the… more

Affordable Housing, Community Development, Construction Project, Critical Infrastructure Sectors, Economic Development

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Singapore Court Issues Landmark Decision Recognizing Indonesian Restructuring Plan

The Singapore International Commercial Court ("SICC") has handed down its first insolvency-related ruling. The court granted recognition and full force and effect to Indonesia's flagship airline's restructuring plan. That plan… more

Airlines, Aviation Industry, Bankruptcy Code, Bankruptcy Court, Commercial Bankruptcy

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SEC Withdraws Proposed ESG Disclosure and Shareholder Submission Rules

In a significant but not unsurprising policy shift, the U.S. Securities and Exchange Commission (SEC) has announced the withdrawal of proposed rules aimed at enhancing ESG disclosures and modifying shareholder proposal… more

Biden Administration, Corporate Governance, Deregulation, Disclosure Requirements, Environmental Social & Governance (ESG)

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DOJ Resumes FCPA Enforcement Under New Guidelines Prioritizing the Protection of American Interests

In response to President Trump's February 10, 2025, Executive Order pausing DOJ FCPA enforcement (the "Executive Order"), on June 9, 2025, the DOJ issued new guidelines (the "Guidelines"), which prioritize the enforcement of… more

Anti-Corruption, Bribery, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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The Changing Landscape for Business Disputes in Texas: Justices Named to Inaugural Business Dispute Appellate Court

On June 11, 2024, Governor Greg Abbott appointed the three inaugural justices for the new Fifteenth Court of Appeals, which will hear appeals from business courts statewide… more

Appeals, Appellate Courts, Appellate Rules, Business Disputes, Business Litigation

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Spain's Draft Law on Collective Actions to Transpose EU Directive 2020/1828

Spain is moving forward with transposition of the EU Representative Actions Directive, aiming to unify rules and strengthen consumer protection… more

Class Action, Collective Actions, EU, EU Directive, Proposed Legislation

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France Adopts Reindustrialization Measures

In Short - The Situation: A new set of measures has been adopted in France which will promote "Green Industry" by streamlining environmental and industrial authorization and supporting low-carbon industrialization projects… more

Climate Action Plan, Construction Project, Environmental Policies, France, Green Buildings

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U.S. Supreme Court Instructs Courts to Provide "Substantial Deference" to Agencies in NEPA Cases

On May 29, 2025, the U.S. Supreme Court decided Seven County Infrastructure Coalition v. Eagle County, clarifying the standards for judicial review of challenges to agency action under the National Environmental Policy Act… more

Administrative Procedure Act, Environmental Impact Statements, Environmental Litigation, Environmental Policies, Infrastructure

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U.S. Supreme Court to Consider Constitutionality of Federal Personal Jurisdiction Over Extraterritorial Acts

The U.S. Supreme Court will consider whether U.S. courts have personal jurisdiction over foreign defendants under the Promoting Security and Justice for Victims of Terrorism Act ("PSJVTA")… more

Certiorari, Constitutional Challenges, Due Process, Extraterritoriality Rules, Fifth Amendment

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USPTO Extends Comment Deadline on Patent Eligible Subject Matter Guidance for AI Inventions

The USPTO has extended the public comment deadline in order to afford all stakeholders an opportunity to weigh in on the subject matter eligibility of AI inventions… more

Artificial Intelligence, Comment Period, Deadlines, Innovative Technology, Intellectual Property Protection

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SEC Enforcement in Financial Reporting and Disclosure: 2023 Year-End Update

We are pleased to present our latest update on financial reporting and issuer disclosure enforcement activity. This White Paper primarily focuses on the U.S. Securities and Exchange Commission’s (“SEC”) enforcement activity… more

Disclosure Requirements, Enforcement Actions, Financial Reporting, Securities and Exchange Commission (SEC), Securities Regulation

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Business Restructuring Review September-October 2023 | Vol. 22 No. 5

Section 546(e) of the Bankruptcy Code’s “safe harbor” preventing avoidance in bankruptcy of certain securities, commodity, or forward-contract payments has long been a magnet for controversy. Several noteworthy court rulings… more

Article III, Bankruptcy Code, Chapter 11, Chapter 7, Commercial Bankruptcy

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New CFTC Enforcement on Carbon Markets Misconduct

Introduction - On June 20, 2023, the United States Commodity Futures Trading Commission ("CFTC") Whistleblower Office, a unit of the agency's Division of Enforcement ("DOE"), issued a rare alert, soliciting tips about… more

Anti-Fraud Provisions, Anti-Manipulation Rule, Carbon Emissions, CFTC, Financial Markets

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DOJ Announces Corporate Whistleblower Awards Pilot Program

The Development: On August 1, 2024, the Department of Justice's ("DOJ") Criminal Division announced its Corporate Whistleblower Awards Pilot Program ("Pilot Program"), designed to reward whistleblowers who report information… more

CFTC, Corporate Misconduct, Department of Justice (DOJ), False Claims Act (FCA), Financial Crimes

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U.S. Supreme Court Ends Heightened Evidentiary Hurdle for "Majority Group" Plaintiffs in Title VII Discrimination Cases

On June 5, 2025, the Supreme Court decided Ames v. Ohio Department of Youth Services and held that a "majority group" plaintiff in a Title VII case need not satisfy a heightened evidentiary burden to establish a prima-facie case… more

Ames v Ohio Department of Youth Services, Disparate Treatment, Employment Discrimination, Employment Litigation, Evidentiary Standards

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Landmark Climate Change Case Overturned: The Hague Court of Appeals Overturns Ruling Ordering Shell to Reduce CO2 Emissions

On November 12, 2024, The Hague Court of Appeals overturned the landmark climate change litigation case that imposed a 45% CO2 reduction obligation on Shell… more

Appeals, Carbon Emissions, Climate Change, Environmental Policies, Greenhouse Gas Emissions

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FERC Revises Return on Equity Methodology for Electric Utilities, Yet Again

The Decision: The Federal Energy Regulatory Commission ("FERC") issued Opinion No. 569-A, refining the methodology it established in Opinion No. 569 for setting the return on equity ("ROE") that electric utilities earn on… more

Capital Assets, Electricity, Energy Sector, Federal Power Act, FERC

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National Assembly of the Republic of Djibouti Approves Digital Code

The National Assembly of the Republic of Djibouti approved the Digital Code, which will reform the telecommunications and digital sector in Djibouti… more

Cybersecurity, Data Protection, Digital Communications, Djibouti, New Legislation

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I Consent: New Illinois Law Expands General Jurisdiction for Foreign Corporations Doing Business in Illinois

On August 15, 2025, Governor Pritzker signed Senate Bill 328 into law, amending Illinois's long-arm statute, Section 2-209(b), and the Illinois Business Corporation Act of 1983… more

Business Litigation, Constitutional Challenges, Environmental Litigation, Foreign Corporations, General Jurisdiction

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UK Government Taking Longer With FDI Reviews, but Clearance Rates Higher

The Situation: On September 10, 2024, the UK government published the third National Security and Investment Act 2021 Annual Report ("2023/2024 Annual Report"), revealing longer processing times for foreign direct investment… more

Acquisition Agreements, Corporate Sales Transactions, Foreign Direct Investment, Foreign Investment, Foreign Jurisdictions

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Texas Enacts Business-Friendly Reforms in Bid to Dethrone Delaware’s Corporate Dominance

The Texas Legislature recently has taken Texas-sized steps intended to make the state a more attractive place for companies to form, reincorporate, or relocate, further advancing Texas’s efforts to rival Delaware as a… more

Attorney's Fees, Business Court, Business Entities, Business Formation, Corporate Governance

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PTAB Announces a Bifurcated Process for Consideration of IPR and PGR Petitions

A new interim process for the acting director to exercise discretion as to whether to institute an inter partes review ("IPR") or a post-grant review ("PGR") was announced on March 26, 2025, in which discretionary considerations… more

Administrative Procedure, Director of the USPTO, Filing Deadlines, Intellectual Property Litigation, Intellectual Property Protection

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ESMA Clarifies Position on Documents Incorporated by Reference in Prospectuses

Following up on its earlier clarification around future incorporation by reference under Regulation (EU) 2017/1129 (the "Prospectus Regulation"), the European Securities and Markets Authority ("ESMA") published its final report… more

Capital Markets, Disclosure Requirements, EU, European Securities and Markets Authority (ESMA), Green Bonds

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SEC Enforcement in Financial Reporting and Disclosure—2017 Year-End Update

2017 will most likely be remembered as a year of transition, as the Securities and Exchange Commission’s enforcement actions indicate, at least in the near term, an emphasis on specific initiatives and retail investor… more

Annual Reports, Anti-Retaliation Provisions, Audit Committee, Cybersecurity, Disclosure Requirements

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Employer Prevails in First Test of California's Newest Noncompete Law

In the first known case to challenge California's legislative attempt to void noncompete agreements even for employees who do not live or work in California, the First Circuit Court of Appeals upheld the application of… more

California, Choice-of-Law, DraftKings, Employees, Employer Liability Issues

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Federal Agencies Launch Joint Inquiry Into Private Investment in Health Care

DOJ, FTC, and HHS jointly announced the launching of a cross-government public inquiry into increasing private equity and corporate involvement in health care, the latest announcement in a string of public statements from the… more

Department of Health and Human Services (HHS), Department of Justice (DOJ), Federal Trade Commission (FTC), Healthcare, Investment

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A Review of 2024 Labor & Employment Legislation in California

The 2024 California legislative session saw the passage of a number of new and important labor and employment laws… more

California, Employee Benefits, Employees, Employer Liability Issues, Employment Policies

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Recent Changes to the Anti-Kickback Statute’s Personal Services Safe Harbor

The Situation: The Office of Inspector General ("OIG") recently modified the personal services and management contracts safe harbor of the federal Anti-Kickback Statute ("AKS"). These modifications expand protections to… more

Anti-Kickback Statute, Department of Health and Human Services (HHS), Final Rules, Health Care Providers, Management Contracts

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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The Regulation of Private Markets in Australia—Where to Next?

The Australian Securities & Investments Commission ("ASIC") is increasing its focus on private markets, adopting a similar approach to other international regulators. Following on from its introduction of a dedicated private… more

ASIC, Australia, Capital Markets, Corporate Governance, Investment Funds

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PTAB Finds Petition Time Barred

In 2985 LLC d/b/a Mountain Voyage Company, LLC v. The Ridge Wallet LLC, a Patent Trial and Appeal Board (“PTAB”) panel denied inter partes review (“IPR”) institution where the petition was time barred under 35 U.S.C. § 315(b)… more

Filing Deadlines, Inter Partes Review (IPR) Proceeding, Joinder, Patent Infringement, Patent Litigation

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White House Opens Door to Broader Inclusion of Alternative Assets in Defined Contribution Retirement Plans

A hotly anticipated August 7, 2025, executive order, "Democratizing Access to Alternative Assets for 401(k) Investors" ("EO"), aims to reduce regulatory barriers and significantly expand access to "alternative assets"—including… more

401k, Compensation & Benefits, Defined Contribution Plans, Department of Labor (DOL), Digital Assets

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Investment Advisers Subject to AML and SARs Requirements

The Situation: The Financial Crimes Enforcement Network ("FinCEN") has adopted a rule that subjects certain investment advisers to anti-money laundering/countering the financing of terrorism program ("AML") requirements… more

Anti-Money Laundering, Bank Secrecy Act, BSA/AML, Final Rules, Financial Crimes

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Severed Knowledge: Negative Trade Secrets Through the Lens of Compartmentalized Memory

Since the passage of the Defend Trade Secrets Act ("DTSA") in 2016, courts have increasingly addressed the nuance of negative trade secrets—information about what does not work, often referred to as "negative know-how."… more

Business Litigation, Confidential Information, Damages, Defend Trade Secrets Act (DTSA), Intellectual Property Litigation

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Pay Now, Argue Later—Even if the Contractor is Going Bust: The NSW Security of Payment Regime and Distressed Contractors

In Short - The Situation: Security of payment ("SOP") legislation across Australia provides a "pay now, argue later" regime for payment claims by contractors in the construction industry. The legislation expressly provides… more

Australia, Construction Contracts, Construction Industry, Contractors, Security of Payment Act

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Significant Reforms on the Horizon for Security of Payment in Victoria’s Construction Industry

Like similar regimes in other States, the Building and Construction Industry Security of Payment Act 2002 (VIC) (“Victorian SOPA”) was intended to reduce insolvency in the construction industry and enhance cash flow for… more

Australia, Conditions of Payment, Construction Contracts, Construction Project, Contract Terms

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EPA Proposes New Set of Rules to Regulate PFAS Under RCRA

On February 8, 2024, the Environmental Protection Agency ("EPA") proposed two regulations that would add nine per- and polyfluoroalkyl substances ("PFAS") to the list of Resource Conservation and Recovery Act ("RCRA") "hazardous… more

CERCLA, Contamination, Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances

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Florida Governor Signs Sweeping Tort Reform Bill Into Law

On March 24, 2023, Florida Governor Ron DeSantis signed into law HB 837/SB 236, which is now in effect and will significantly impact tort cases… more

Governor DeSantis, Insurance Claims, Insurance Industry, Property Insurance, Tort Reform

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New CFTC Cooperation, Self-Reporting, and Remediation Enforcement Advisory Introduces Major Changes

The Commodity Futures Trading Commission's ("CFTC") new enforcement advisory introduces several major changes in policy and a matrix helping those facing potential or actual CFTC investigations quantify the extent to which… more

CFTC, Cooperation, Enforcement Actions, Enforcement Guidance, Financial Services Industry

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Dutch Limited Partnerships Attractive Alternative to Luxembourg and Irish Fund Structuring

Proposed changes to Dutch tax law will make Dutch limited partnerships attractive private equity and venture capital fund and feeder fund alternatives to Irish and Luxembourg equivalents. A Dutch limited partnership… more

Business Entities, Business Taxes, Corporate Taxes, International Tax Issues, Limited Partnership Agreements

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United States Supreme Court to Hear Two Securities Cases This Term

The Supreme Court is set to hear arguments in two cases concerning the pleading standard in securities fraud class actions… more

Annual Reports, Certiorari, Class Action, Disclosure Requirements, Facebook Inc v Amalgamated Bank

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Brazilian Superior Court Greenlights the Seizure of Cryptocurrency in Enforcement Proceedings

In a recent decision, the Brazilian Superior Court of Justice ("STJ") held that cryptocurrency is a financial asset with "economic value" and subject to seizure in enforcement proceedings… more

Appeals, Appellate Courts, Asset Seizure, Brazil, Creditors

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California’s Efforts to Regulate ACOs Hit a Speedbump

The Situation: On October 8, 2018, California's Office of Administrative Law ("OAL") rejected a regulation that the Department of Managed Health Care ("DMHC") proposed. The regulation would require accountable care organizations… more

ACOs, Administrative Procedure Act, Comment Period, Health Care Providers, Medicare Shared Savings Program

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EU Geopolitical Risk Update - Key Policy & Regulatory Developments No. 121

This regular alert covers key policy and regulatory developments related to EU geopolitical risks, including in particular, economic security, Russia’s war against Ukraine, health threats, and cyber threats. It does not purport… more

Competition, Cyber Threats, Cybersecurity, Data Protection, Economic Sanctions

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New EPA Positions Reflected in Sweeping Rollback of Greenhouse Gas Regulation

The Environmental Protection Agency ("EPA") proposed a rule that would rescind the 2009 Endangerment Finding, citing a new interpretation of the relevant section in the Clean Air Act ("CAA"), a lack of clear congressional intent… more

Administrative Procedure Act, Clean Air Act, Climate Change, Constitutional Challenges, Endangerment Finding

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New Proposed Regulations Address Spin-Off Transactions

These proposed regulations applicable to tax-free spin-offs would impose a range of new substantive requirements and greatly expand the information that must be reported to the Internal Revenue Service ("IRS") by taxpayers who… more

Corporate Taxes, Filing Requirements, Internal Revenue Code (IRC), IRS, NPRM

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U.S. Copyright Office Issues Guidance on Generative AI Training

To address the legal issues presented by artificial intelligence ("AI"), the U.S. Copyright Office ("Office") launched a multi-part Copyright and Artificial Intelligence Report ("Report") (see our Commentaries on Part One and… more

Algorithms, Artificial Intelligence, Copyright, Copyright Infringement, Copyright Litigation

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ICJ Issues Advisory Opinion on States' Legal Obligations Regarding Climate Change

The International Court of Justice ("ICJ") stated that States have legal obligations to regulate emissions and may be held internationally responsible for climate inaction—including the failure to effectively regulate greenhouse… more

Carbon Emissions, Climate Change, Environmental Policies, Greenhouse Gas Emissions, Human Rights

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Navigating Insurance for the Los Angeles Wildfires: What You Need to Know

The Los Angeles wildfires, which began on January 7, 2025, have caused widespread devastation, destroying homes, businesses, and communities, while displacing thousands of residents. Insured loss estimates currently exceed $30… more

Business Interruption, California, Insurance Claims, Insurance Litigation, Insurance Regulations

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Taxpayers Cannot Sue Out-of-State Taxing Authorities in Local Courts

The Supreme Court ruling will prevent taxpayers from challenging assessments from out-of-state taxing authorities in local courts. On May 13, 2019, the U.S. Supreme Court ruled that states retain sovereign immunity from… more

Internet Retailers, Interstate Commerce, Out-of-State Companies, Physical Presence Test, Sales & Use Tax

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Business Restructuring Review Vol. 24, No. 4 | July–August 2025

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once the… more

Appeals, Bankruptcy Code, Bankruptcy Court, Borrowers, Chapter 11

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Global Spotlight on Labor Trafficking in Health Care and Corporate Supply Chains

Courts and legislatures both in the United States and abroad continue to prioritize the eradication of labor trafficking in corporate supply chains, including those in the health care industry. For example, in the United States,… more

Alien Tort Statute, Child Labor, Due Diligence, Forced Labor, Human Rights

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Financing of Australian Class Actions—Solicitors Common Fund Order Disallowed

Australia's highest court has ruled on the question of whether lawyers in New South Wales ("NSW") can charge contingency fees in class action litigation in the Federal Court of Australia (otherwise known as a solicitors' common… more

Australia, Class Action, Client Services, Contingency Fees, Jurisdiction

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Germany to Facilitate the Collective Pursuit of Antitrust Damages Claims

Recent rulings indicate that it will be easier for cartel victims to pursue their claims in German courts by assigning them to a special purpose vehicle ("SPV"), which then litigates the combined claims as the sole plaintiff… more

Antitrust Provisions, Class Action, Collective Actions, Competition, EU

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Will the U.S/EU Trade Deal lead to additional changes in European ESG legislation?

As a follow-up to the political agreement reached between U.S. President Donald Trump and EU Commission President Ursula von der Leyen regarding cross-Atlantic trade on July 27th, 2025, the United States and the EU issued a… more

Climate Change, Corporate Sustainability Reporting Directive (CSRD), Due Diligence, Environmental Social & Governance (ESG), EU

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DOJ Obtains First Divestitures in a Criminal Antitrust Case

The U.S. Department of Justice Antitrust Division ("DOJ") recently resolved a criminal case with Teva Pharmaceuticals and Glenmark Pharmaceuticals via deferred prosecution agreements ("DPAs"), which include a novel remedy for a… more

Anti-Competitive, Antitrust Violations, Bid Rigging, Competition, Corporate Counsel

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Business Restructuring Review Vol. 24, No. 2 | March–April 2025

Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision… more

Assignments, Bankruptcy Court, Chapter 11, Chapter 15, Comity

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DOJ Updates Corporate Compliance Program Guidance and Announces New Policy Initiatives and Enforcement Resources

In Short - The Situation: As a follow-up to the deputy attorney general's September 2022 memorandum, the U.S. Department of Justice ("DOJ" or "Department") announced in March 2023 significant updates to its corporate… more

Compliance, Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ)

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Pay Equity and Transparency: Expanding Obligations for U.S. Employers with EU Operations

The Situation: While U.S. states continue to legislate pay equity and transparency obligations, significant changes are on the horizon in the European Union that will impact U.S. companies with sizeable operations there. The EU… more

Disclosure Requirements, Due Diligence, Employees, Employer Liability Issues, Equal Pay

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SEC Adopts Final Dodd-Frank Act Clawback Rules: An A-to-Z Explanation

As required by the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010, on October 26, 2022, the Securities and Exchange Commission adopted final rules directing the national securities exchanges and national… more

Clawbacks, Disclosure Requirements, Dodd-Frank, Final Rules, Incentive Compensation

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New York Legislature Targets Real Estate Lenders To Lower Rents

In an effort to protect small businesses from high rents, on June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents. As of this writing, this… more

Borrowers, Commercial Leases, Financial Services Industry, Landlords, Lenders

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White House Releases Plan to Build U.S. AI Infrastructure

On July 23, 2025, the White House released "America's AI Action Plan" (the "Plan"), a comprehensive federal strategy to secure U.S. global leadership in artificial intelligence ("AI"). The Plan is structured around three… more

Artificial Intelligence, Clean Water Act, Data Centers, Department of Energy (DOE), Environmental Policies

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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Another Fender-Bender between LKQ and GM

We have covered the LKQ v. GM design patent disputes from the PTAB decision through appeal and en banc rehearing.  And now we report on yet another chapter in the saga between these parties… more

Design Patent, Intellectual Property Protection, Obviousness, Patent Infringement, Patent Litigation

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Additional Changes in German Foreign Direct Investment Control

The 17th amendment to the German Foreign Trade and Payment Ordinance ("AWV") adopted by the federal government on April 27, 2021, included—compared to the original draft—a number of changes relevant to M&A transactions with a… more

Acquisitions, Foreign Direct Investment, Foreign Investment, Germany, Mergers

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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Capital Markets, EU, European Banking Authority (EBA), European Commission

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UK Court of Appeal Diverges From EU Trademark Law

The UK Court of Appeal has for the first time chosen to diverge from a decision of the Court of Justice of the European Union ("CJEU"), making use of the powers given to it following the UK's exit from the European Union… more

Corporate Counsel, Court of Justice of the European Union (CJEU), EU, European Union Intellectual Property Office (EUIPO), Intellectual Property Protection

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No Need to Show Reasonable Expectation of Success Regarding Inherent Property

The Federal Circuit affirmed six PTAB decisions that held unpatentable as obvious 79 claims of three Cytiva Bioprocess (“Cytiva”) challenged patents and reversed the PTAB decision upholding four claims… more

Biotechnology, Healthcare, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Life Sciences

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Class Actions Worldview - A Study of Trends Around the Globe: A Compendium Of Jones Day’s Five-part Series Published In 2023 And 2024

Class action procedures vary greatly among jurisdictions. These differences include how developed the procedures are; the types of claims parties can bring; the parties that can represent classes; whether classes are structured… more

Class Action, Class Certification, Class Representatives, Collective Actions, Corporate Counsel

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No Requirement to Raise All Arguments in Rehearing Request

The Federal Circuit in Voice Tech Corp. v. Unified Patents, LLC, No. 2022-2163 (Fed. Cir. Aug. 1, 2024) (Lourie, Chen, and Cunningham), affirmed the PTAB’s determination that claims of Voice Tech Corp.’s (“Voice Tech”) U.S… more

Claim Construction, Computer-Related Inventions, Final Written Decisions, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding

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Medicare's Innovation Center Charts New Direction: Part 3 – Drugs, Devices, and Data

The Center for Medicare and Medicaid Innovation ("CMMI") is set to reshape value-based care. In the third of a three-part series highlighting this new direction, this summary is focused on CMMI's efforts regarding drugs,… more

Centers for Medicare & Medicaid Services (CMS), CMMI, Data Collection, Data Management, Digital Health

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Dubai's Digital Assets Aspirations

In Short - The Situation: On 11 March 2022, Dubai Law No. 4 of 2022 Regulating Virtual Assets in the Emirate of Dubai (the "Law") came into effect. The Law establishes the foundation of a regulatory regime for virtual assets in… more

Blockchain, Cryptocurrency, Digital Assets, Dubai, Popular

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Match.com's Divorce: Delaware Supreme Court Decides Standard of Review for Controlling Stockholder Transactions

The Situation: When the Delaware Supreme Court decided Kahn v. M&F Worldwide Corp. (MFW) in 2014 (88 A.3d 635 (Del. 2014)), it provided a pathway for business judgment review for "freeze-out" merger transactions involving… more

Business Disputes, Business Litigation, Controlling Stockholders, DE Supreme Court, Freeze-Out Mergers

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U.S. Supreme Court Ends Heightened Evidentiary Hurdle for "Majority Group" Plaintiffs in Title VII Discrimination Cases

On June 5, 2025, the Supreme Court decided Ames v. Ohio Department of Youth Services and held that a "majority group" plaintiff in a Title VII case need not satisfy a heightened evidentiary burden to establish a prima-facie case… more

Ames v Ohio Department of Youth Services, Disparate Treatment, Employment Discrimination, Employment Litigation, Evidentiary Standards

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U.S. Supreme Court Allows Personal Jurisdiction Based on Corporate Registration

The decision risks opening the door to increased forum shopping in states with consent-by-registration systems, but significant questions remain about the extent of those risks… more

Due Process, Forum Shopping, Mallory v Norfolk Southern Railway Co, Personal Jurisdiction, SCOTUS

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Double-Dip Financings: The Next Wave in European Liability Management?

A “double-dip” structure is considered a way to allow some creditors to have multiple claims against key obligors arising out of the same underlying transactions. These additional claims could improve their position relative to… more

Commercial Bankruptcy, Corporate Restructuring, Creditors, Debt, Debtors

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Nigeria Launches Investigations into Noncompliance with Nigeria Data Protection Act 2023

The Nigeria Data Protection Act 2023 ("NDP Act") seeks to safeguard the fundamental rights, freedoms, and interests of data subjects as enshrined under the Constitution of the Federal Republic of Nigeria… more

Data Privacy, Data Protection, Enforcement Actions, Nigeria, Registration Requirement

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Regulating Digital Assets: FIT21 Seems to Fit the Bill

The United States lacks a regulatory framework geared toward digital assets. This raises consumer protection concerns, causes regulatory turf battles and duplicative enforcement actions, impedes innovation, and puts the United… more

Blockchain, CFTC, Cryptoassets, Cryptocurrency, Digital Assets

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Data Breach Update to Australian Securities Exchange Guidance on Continuous Disclosure Listing Rules

The Situation: The Australian Securities Exchange ("ASX") has published new data breach examples in an update to its continuous disclosure Guidance Note, effective from 27 May 2024 ("Data Breach Examples")… more

Australia, Australian Securities Exchange (ASX), Cybersecurity, Data Breach, Data Privacy

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UK Government Taking Longer With FDI Reviews, but Clearance Rates Higher

The Situation: On September 10, 2024, the UK government published the third National Security and Investment Act 2021 Annual Report ("2023/2024 Annual Report"), revealing longer processing times for foreign direct investment… more

Acquisition Agreements, Corporate Sales Transactions, Foreign Direct Investment, Foreign Investment, Foreign Jurisdictions

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Sustainability Obligations for Spanish Data Centers

The draft Royal Decree on the sustainability and energy efficiency of data centers will be subject to public consultation until 15 September 2025… more

Data Centers, Energy Policy, Environmental Policies, EU, Permits

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French Anticorruption Agency and French National Financial Prosecutor's Office Publish Updated Guide on Internal Anticorruption Investigations

On March 14, 2023, the French Anticorruption Agency ("AFA") and the Parquet National Financier ("PNF") jointly published a new version of their guide relating to internal anticorruption investigations (the "Guide")… more

Anti-Corruption, Bribery, Corruption, France, Internal Investigations

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Italy: 110% Tax Deduction Enacted for Certain Energy and Anti-Seismic Works on Existing Buildings

The Situation: For years, the Italian tax system has provided for certain tax deductions from income taxes in case of building restoration works. The Result: The tax deduction from income taxes has now been increased to 110%… more

Energy-Efficiency Tax Credits, Financial Institutions, Income Taxes, International Tax Issues, Italy

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Directors' Duties—A European Overview: Financial Distress and COVID-19 - November 2020

A company or group's financial distress causes significant turmoil for its owners, directors, managers, employees and often its suppliers and other creditors. For directors in particular, there are significant responsibilities… more

Commercial Bankruptcy, Coronavirus/COVID-19, Corporate Governance, Corporate Restructuring, Debt Restructuring

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France Tightens Registration Conditions for Digital Assets Service Providers

In Short - The Situation: France has had a registration and licensing process for digital assets service providers for over three years. The recent crisis with Terra Luna and FTX trading platform has made it clear to French… more

Consumer Financial Products, Cryptoassets, Cryptocurrency, Digital Assets, Financial Regulatory Reform

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Civil Justice Council Publishes Report on Civil Enforcement

The Civil Justice Council ("CJC") has issued a new report calling for an overhaul of the enforcement regime in England & Wales… more

Debt, Debt Collection, Enforcement Actions, Judgment Creditors, UK

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Executive Order on Promoting Competition in the American Economy: A Focus on Patent and Drug Law to Reduce Health Care Spending

Each year, Americans spend more than $1,500 per person on prescription drugs. Critics calling for measures to lower prescription drug costs often cast blame on alleged abuses of patent and competition laws. To address these… more

Anti-Competitive, Biden Administration, Biosimilars, Biotechnology, Competition

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Courts Are Closely Following Amended Rule 37(e)’s Limits on Sanctions for Lost Electronically Stored Information

Within two years of its implementation, several cases show that amended Rule 37(e) is having its intended impact, as judges are carefully applying the criteria articulated in the Rule prior to ordering curative measures or… more

Adverse Inference Instructions, Attorney's Fees, Burden of Proof, Data Retention, Discovery

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EU Standards for Threat-Led Penetration Testing: New Cyber Compliance Imperatives for Financial Institutions

The EU has introduced Delegated Regulation (EU) 2025/1190, establishing the first harmonized standards for threat-led penetration testing ("TLPT") across the financial sector. The regulation aims to strengthen the cyber… more

Credit Institutions, Cybersecurity, Digital Operational Resilience Act (DORA), Enforcement, EU

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DOJ Resumes FCPA Enforcement Under New Guidelines Prioritizing the Protection of American Interests

In response to President Trump's February 10, 2025, Executive Order pausing DOJ FCPA enforcement (the "Executive Order"), on June 9, 2025, the DOJ issued new guidelines (the "Guidelines"), which prioritize the enforcement of… more

Anti-Corruption, Bribery, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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Drop a Dime, Get a Dollar: DOJ's Antitrust Division and U.S. Postal Service Unveil Whistleblower Program

On July 8, 2025, the Department of Justice ("DOJ") and the U.S. Postal Service ("USPS") announced a Whistleblower Rewards Program that will provide financial incentives to individuals who report antitrust crimes and related… more

Antitrust Provisions, Antitrust Violations, Competition, Criminal Convictions, Department of Justice (DOJ)

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The Australian Parliament Enacts Magnitsky-style Laws

Australia's Existing Autonomous Sanctions Regime - Australia's existing autonomous sanctions regime is set out in the Autonomous Sanctions Act 2011 (Cth) ("Act")… more

Anti-Corruption, Australia, Corruption, Economic Sanctions, Financial Transactions

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Second Circuit Concludes Commodity Exchange Act Claims Accrue When Plaintiffs Learn Of Their Injuries

Under the "discovery accrual rule" discovery of the injury starts the clock for statute of limitations purposes. On February 28, 2019, the Second Circuit issued an important decision regarding the statute of limitations for… more

Class Action, Commodity Exchange Act (CEA), Enforcement Actions, Financial Markets, Motion to Dismiss

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Georgia Limits Liability for Pesticide Manufacturers

This week, Georgia's governor signed a new pesticide labeling and liability act (SB 144) ("Act"), amending state law to limit the scope of pesticide manufacturer liability for failure to warn and aligning the state standards… more

Agribusiness, Environmental Policies, Environmental Protection Agency (EPA), Failure To Warn, FIFRA

See all updates »

Constitutional Reform in Mexican Electricity Sector

New laws have been issued for the Mexican electricity sector, establishing a new dynamic between the public and private sectors… more

Clean Energy, Electricity, Energy Policy, Energy Projects, Energy Reform

See all updates »

Misleading or Deceptive Conduct Claims on Projects in Australia

A claim for misleading or deceptive conduct under s 18 of the Australian Consumer Law is one of the most commonly used causes of action in commercial litigation in Australia, including in disputes on major projects in mining,… more

Australia, Australian Consumer Law, Commercial Litigation, Construction Disputes, Deceptive Intent

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New York Imposes Stringent Cybersecurity and Cyber Incident Reporting Obligations on Hospitals

New York recently passed new cybersecurity regulations for hospitals licensed in New York to enhance patient safety and cybersecurity… more

Cybersecurity, Data Breach, Data Privacy, Data Protection, Data Security

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ICJ Issues Advisory Opinion on States' Legal Obligations Regarding Climate Change

The International Court of Justice ("ICJ") stated that States have legal obligations to regulate emissions and may be held internationally responsible for climate inaction—including the failure to effectively regulate greenhouse… more

Carbon Emissions, Climate Change, Environmental Policies, Greenhouse Gas Emissions, Human Rights

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DOJ Criminal Division Announces Priority Enforcement Areas and Publishes Revised Enforcement Guidance

On May 12, 2025, the Department of Justice Criminal Division announced significant changes to its corporate white-collar criminal enforcement priorities. In line with the Trump administration’s recalibration toward prioritizing… more

Corporate Governance, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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HHS Pilot Program to Evaluate 340B Drug Pricing Program Rebate Models

The Health Resources and Services Administration ("HRSA") plans to implement a limited pilot program that will allow approved manufacturers to issue post-purchase rebates for 340B covered outpatient drugs rather than upfront… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Drug Pricing, Health Insurance, Healthcare

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European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

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EU Geopolitical Risk Update - Key Policy & Regulatory Developments No. 118

This regular alert covers key policy and regulatory developments related to EU geopolitical risks, including in particular, economic security, Russia’s war against Ukraine, health threats, and cyber threats. It does not purport… more

Competition, Cybersecurity, Data Privacy, Data Protection, EU

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Adoption of Final Version of European Green Bond Standard: A New Landmark Tool for Sustainable Finance

The Situation: On October 5, 2023, the European Parliament and the Council of the European Union adopted the European Green Bond Regulation ("EuGB Regulation"), establishing a voluntary harmonized standard open to both EU and… more

EU, European Commission, European Securities and Markets Authority (ESMA), Financial Markets, Green Bonds

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Business Restructuring Review Vol. 24, No. 4 | July–August 2025

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once the… more

Appeals, Bankruptcy Code, Bankruptcy Court, Borrowers, Chapter 11

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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Navigating Indemnity Disputes in an Ever-Changing Legal Environment

In Short - The Background: Indemnity clauses are often included in contracts and can be extremely valuable, but they also raise many potential challenges to enforcing them, including state statutes, common law limitations,… more

Commercial General Liability Policies, Construction Contracts, Construction Project, Contract Disputes, Contract Terms

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EU Standards for Threat-Led Penetration Testing: New Cyber Compliance Imperatives for Financial Institutions

The EU has introduced Delegated Regulation (EU) 2025/1190, establishing the first harmonized standards for threat-led penetration testing ("TLPT") across the financial sector. The regulation aims to strengthen the cyber… more

Credit Institutions, Cybersecurity, Digital Operational Resilience Act (DORA), Enforcement, EU

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SEC Settles Charges with Keurig Over ESG Disclosures

On September 10, 2024, the SEC settled charges against Keurig for "incomplete and inaccurate" ESG disclosures about the recyclability of Keurig's K-Cup pods, signaling a continued focus on environmental-related disclosures… more

Climate Change, Disclosure Requirements, Enforcement Actions, Environmental Social & Governance (ESG), Keurig Inc

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Fifth Circuit Requires "Rigorous Scrutiny" Before District Courts Authorize Notice in FLSA Collective Actions

The Situation: A district court in the Fifth Circuit granted conditional certification under the Fair Labor Standards Act ("FLSA") to a class of allegedly misclassified truck drivers, analyzing certification using the widely… more

ADEA, Collective Actions, Commercial Truck Drivers, Discovery, Fair Labor Standards Act (FLSA)

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2023 Annual Review: Key U.S. Trade Secret Developments

On January 5, 2023, President Biden signed the Protecting American Intellectual Property Act of 2022 (“PAIPA”) into law. PAIPA requires that the President submit an annual report identifying and describing any “significant trade… more

Defend Trade Secrets Act (DTSA), Federal Trade Commission (FTC), Intellectual Property Litigation, Intellectual Property Protection, Non-Compete Agreements

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2023 Securities Litigation Year in Review

During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings involving… more

Class Certification, Cryptocurrency, False Statements, Fiduciary Duty, Financial Institutions

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Texas Legislature Passes Law Creating New Business Courts

On May 12, 2023, the Texas Senate passed House Bill 19. Once signed by Governor Greg Abbott, Texas will create a new specialized court that will alter how high-stakes business disputes are resolved… more

Business Court, State and Local Government, State Legislatures

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Congress Introduces CLARITY Act to Establish Digital Asset Regulatory Framework

U.S. House lawmakers introduced the bipartisan CLARITY Act of 2025 proposing a comprehensive regulatory framework for digital assets that would delineate agencies' oversight roles, establish a provisional registration regime for… more

Blockchain, CFTC, Cryptocurrency, Decentralized Finance (DeFi), Digital Assets

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Japanese Supreme Court: Building a System That Includes a Server Located Outside Japan Constitutes Patent Infringement

On March 3, 2025, the Japanese Supreme Court held that building a network-based system comprised of a server located in the United States, connected via a network to user terminals in Japan, constitutes "producing a product"… more

Intellectual Property Litigation, Intellectual Property Protection, International Trade, Japan, Patent Infringement

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CJEU Ruling on Asymmetric Jurisdiction Clause Validity—Towards (un)Certainty?

The Court of Justice of the European Union ("CJEU") recently issued an important ruling in the case of Società Italiana Lastre SpA (SIL) v. Agora SARL (C-537/23). The decision addresses the validity criteria of asymmetric… more

Business Litigation, Choice-of-Law, Commercial Litigation, Contract Disputes, Contract Terms

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Speculative IPR Discovery Request Not in the Interest of Justice

“Because Congress intended inter partes reviews to serve as a faster and more cost-effective alternative to litigating validity in district courts, discovery in inter partes reviews is limited.” See Garmin Int’l, Inc. v. Cuozzo… more

Discovery, Evidence, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Motion to Dismiss

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EU Emergency Response Update – Key Policy & Regulatory Developments No. 114

This regular alert covers key regulatory developments related to EU emergency responses, including in particular to Russia’s war of aggression against Ukraine, COVID-19, and cyber threats. It does not purport to provide an… more

Competition, Cybersecurity, Data Protection, EU, European Commission

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FTC Finalizes Amendments to the Children's Online Privacy Protection Act Rule

On April 22, 2025, the Federal Trade Commission ("FTC") published the finalized amendments to the Children's Online Privacy Protection Act ("COPPA") Rule (the "Rule"), marking the first major update since 2013… more

COPPA, Data Privacy, Federal Trade Commission (FTC), FERPA, Final Rules

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Business Restructuring Review Vol. 23 No. 3 | May-June 2024

In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than state… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 13, Chapter 15

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Spain Adopts New Measures to Fight Corruption

As part of the Action Plan for Democracy, the Government of Spain recently established two new specialized prosecutorial units and a new independent whistleblower protection agency… more

Anti-Corruption, Corporate Counsel, Corruption, Regulatory Reform, Spain

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Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

See all updates »

The Climate Report | Fourth Quarter 2024

New ESG regulations are expected to have a significant impact on disclosure and governance obligations for EU and non-EU companies alike, including extensive sustainability reporting and due diligence requirements on… more

Carbon Emissions, Climate Action Plan, Climate Change, Coal Mines, Energy Policy

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Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

See all updates »

Delaware Chancery Court Strikes 5% Poison Pill With "Extreme" Features

The Background: The Delaware Chancery Court held that a board of directors breached its fiduciary duties in adopting a shareholder rights plan, or "poison pill," with an unprecedented combination of "extreme" features, including… more

Board of Directors, Breach of Duty, Fiduciary Duty, Poison Pill, Shareholder Activism

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DOJ and FTC Release Final Rule Expanding HSR Premerger Filing Requirements

The Federal Trade Commission ("FTC") unanimously issued a final rule expanding the requirements of premerger filings under the Hart-Scott-Rodino Antitrust Improvements ("HSR") Act of 1976. The HSR Act requires parties to certain… more

Acquisition Agreements, Antitrust Provisions, Competition, Corporate Sales Transactions, Department of Justice (DOJ)

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2023 Securities Litigation Year in Review

During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings involving… more

Class Certification, Cryptocurrency, False Statements, Fiduciary Duty, Financial Institutions

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Earnout Provisions: When Litigation Arises and How to Avoid It

The use of earnout provisions, which buyers and sellers often use to bridge differing views of value, is on the rise, especially in the private equity and corporate venture capital markets. This White Paper examines how courts… more

Acquisition Agreements, Buyers, Earn-Outs, Federal Arbitration Act, Merger Agreements

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Cryptocurrencies and Risk Under the Antiterrorism Act

In Short - The Situation: Terrorists may be increasingly turning to cryptocurrencies to evade sanctions and finance terrorist acts, as recent prosecutions and reports suggest. Under the Antiterrorism Act ("ATA"), as amended… more

AML/CFT, Antiterrorism Act, Cryptocurrency, Decentralized Finance (DeFi), Department of Justice (DOJ)

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Enacting President Biden's Infrastructure Bill: Opportunities in The Infrastructure Investment and Jobs Act

The Road Towards Better Infrastructure On November 15  2021, President Biden signed into the law the long-awaited Bipartisan Infrastructure Framework, The Infrastructure Investment and Jobs Act ("IIJA")… more

Biden Administration, Broadband, Carbon Capture and Sequestration, Clean Energy, Electric Vehicles

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PTAB Rejects Double-Dose of Prior Art

In Sandoz Inc. v. Acerta Pharma B.V. (IPR2023-00478), a Patent Trial and Appeal Board (“PTAB”) panel denied IPR institution where the asserted prior art was cumulative of that considered during prosecution. This denial included… more

Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation, Patent Trial and Appeal Board

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Amended New York WARN Regulations Now in Effect

The New York State Department of Labor has published amended WARN regulations that provide guidance on a number of topics, including treatment of remote workers, applicability of exemptions, pay in lieu of notice, calculating… more

Amended Regulation, Employees, Hiring & Firing, Layoff Notices, Layoffs

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Bill Seeks to Restrict 30-Month Stay in Hatch-Waxman Litigation to One Patent

Senate Bill S. 4878 seeks to force innovator pharmaceutical companies to select a single Orange Book listed patent for the 30-month stay… more

Abbreviated New Drug Application (ANDA), FDA Approval, Generic Drugs, Hatch-Waxman, Healthcare

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Georgia Limits Liability for Pesticide Manufacturers

This week, Georgia's governor signed a new pesticide labeling and liability act (SB 144) ("Act"), amending state law to limit the scope of pesticide manufacturer liability for failure to warn and aligning the state standards… more

Agribusiness, Environmental Policies, Environmental Protection Agency (EPA), Failure To Warn, FIFRA

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Belgian and French Courts Ruled on New Climate Lawsuits Against Governments

On May 26, 2021, the Hague District Court ordered, in a groundbreaking decision, Royal Dutch Shell Plc to ensure that the aggregate annual volume of all carbon dioxide emissions of the Shell group, its suppliers, and customers… more

Air Pollution, Belgium, Carbon Emissions, Climate Change, Duty of Care

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DOJ Announces New Whistleblower Program and Enforcement Initiatives

The Development: On March 7, 2024, Deputy Attorney General ("DAG") Lisa Monaco discussed updates to the Department of Justice's ("DOJ" or "Department") corporate criminal enforcement policies and announced a pilot program that… more

Artificial Intelligence, CFTC, Criminal Prosecution, Department of Justice (DOJ), Enforcement Guidance

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“Settled-Expectations” Analysis May Leave Some Petitioners Feeling Unsettled

As discretionary denials are on the rise and institution rates are declining at the PTAB (link), recent decisions from the PTAB have introduced the notion of a patent owner’s “settled expectations” as another reason for the PTAB… more

Administrative Procedure Act, Denial of Institution, Filing Deadlines, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding

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Diocese of Rockville Centre Pioneers a Global Resolution for Itself, Its 136 Parishes, and its Settling Insurers Post-Purdue

In order to resolve hundreds of Child Victims Act lawsuits alleging sexual abuse, the Diocese of Rockville Centre commenced chapter 11 to seek protection for itself, its parishes, and schools, as well as providing equitable… more

Asset Management, Chapter 11, Churches, Class Action, Commercial Bankruptcy

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Landmark Enforcement Under U.S. CPSA Leads to Sentencing of Corporate Executives for Failure to Report Product Hazards

In June 2025, two former executives were each sentenced to more than three years in prison for conspiracy and failure to report hazardous products to the U.S. Consumer Product Safety Commission ("CPSC"), marking the first… more

Consumer Product Safety Act (CPSA), Consumer Product Safety Commission (CPSC), Corporate Counsel, Corporate Executives, Criminal Prosecution

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New Fast-Track Liquidation Procedures in the Netherlands

The Background: On November 15, 2023, the Temporary Fast-Track Liquidation Transparency Act (Tijdelijke Wet Transparantie Turboliquidatie) (the "Act") came into force in the Netherlands, temporarily changing certain statutory… more

Bankruptcy Code, Commercial Bankruptcy, Disclosure Requirements, Fast Track Process, Legal Entities

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PTAB Retains Jurisdiction Of Expired Patents

The Federal Circuit rejected a recent argument that the PTAB does not have inter partes review (IPR) jurisdiction over expired patents. Because even expired patents involve the grant of public rights, the court explained that… more

Appeals, Article III, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Jurisdiction

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The Climate Report | First Quarter 2022

The delegated regulation includes a new comprehensive and unified reporting methodology to direct investments toward environmentally sustainable economic activities… more

Climate Action Plan, Climate Change, Environmental Policies, Environmental Protection Agency (EPA), Environmental Social & Governance (ESG)

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Business Restructuring Review Vol. 24, No. 4 | July–August 2025

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once the… more

Appeals, Bankruptcy Code, Bankruptcy Court, Borrowers, Chapter 11

See all updates »

Saudi Council of Ministers Approves 100% Foreign Ownership of Engineering Consultancies

Currently, Saudi Arabian law permits foreign direct investment in engineering consultancies operating in the private sector only through a professional company licensed by the Ministry of Commerce and Industry ("MOCI")… more

Engineering, Foreign Corporations, Foreign Direct Investment, Foreign Investment, Foreign Subsidiaries

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Will the U.S/EU Trade Deal lead to additional changes in European ESG legislation?

As a follow-up to the political agreement reached between U.S. President Donald Trump and EU Commission President Ursula von der Leyen regarding cross-Atlantic trade on July 27th, 2025, the United States and the EU issued a… more

Climate Change, Corporate Sustainability Reporting Directive (CSRD), Due Diligence, Environmental Social & Governance (ESG), EU

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HHS Pilot Program to Evaluate 340B Drug Pricing Program Rebate Models

The Health Resources and Services Administration ("HRSA") plans to implement a limited pilot program that will allow approved manufacturers to issue post-purchase rebates for 340B covered outpatient drugs rather than upfront… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Drug Pricing, Health Insurance, Healthcare

See all updates »

How to Conduct a Product Recall in Australia: A Guide

Product recalls are becoming increasingly common. The Australian Competition and Consumer Commission ("ACCC") and industry-specific regulators are very active in both overseeing product recalls and prosecuting non-compliance… more

Australia, Australian Competition and Consumer Commission (ACCC), Food Recalls, Manufacturers, Product Defects

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Connecticut Appellate Court Issues Mixed Ruling on Coverage for Asbestos Liabilities

Manufacturers with asbestos liabilities should pay attention to the March 7, 2017, ruling in R.T. Vanderbilt Company v. Hartford Accident and Indemnity Company by the Connecticut Appellate Court. While the court issued… more

Asbestos, Asbestos Litigation, Civil Liability, Continuous Trigger Theory, Indemnity Insurance

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Crypto Assets, CASPS, and AML/CFT Compliance: The New European Regulatory Landscape Under MiCA and AMLR

The rise of crypto assets and decentralized finance has challenged traditional regulatory frameworks, particularly in the area of anti-money laundering and countering the financing of terrorism ("AML/CFT")… more

AML/CFT, Anti-Money Laundering, Cooperative Compliance Regime, Cryptoassets, Cryptocurrency

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President Trump Pauses DOJ FCPA Enforcement and Orders Preparation of New Enforcement Guidelines

On February 10, 2025, President Donald J. Trump signed an Executive Order pausing enforcement of the Foreign Corrupt Practices Act ("FCPA") by the U.S. Department of Justice ("DOJ") for 180 days and ordering Attorney General Pam… more

Anti-Corruption, Attorney General, Department of Justice (DOJ), Enforcement Actions, Executive Orders

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Ohio Grants Broad Immunity From COVID-19 Lawsuits; Includes Health Care Providers

Ohio House Bill 606 grants temporary immunity from civil actions related to the transmission of COVID-19 and limited immunity to health care providers related to civil actions and professional disciplinary actions. On… more

Coronavirus/COVID-19, Governor DeWine, Gross Negligence, Health Care Providers, Immunity

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Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

See all updates »

Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

See all updates »

European Aviation Arbitration Court Takes Flight

In Short - The Situation: In July 2022, the Netherlands Arbitration Institute launched the Hague Court of Arbitration for Aviation ("Hague CAA"), an aviation arbitration court and mediation center seated in The Hague,… more

Arbitration, Arbitration Agreements, Aviation Industry, Dispute Resolution

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Court Finds AI-Generated Work Not Copyrightable for Failure to Meet "Human Authorship" Requirement—But Questions Remain

In Short - The Background: Generative artificial intelligence ("GenAI") tools allow individuals to readily generate content, including works that traditionally would be copyrightable if authored by a human being, such as… more

Artificial Intelligence, Authorship, Copyright, Copyright Infringement, Copyright Litigation

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Legal Questions for Your Sustainability Team #4

This series seeks to identify legal questions that can add definition and value to the good work that sustainability teams are doing… more

California, CARB, Climate Change, Disclosure Requirements, Filing Deadlines

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One Big Beautiful Bill Act— Impact on Energy Tax Credits

The One Big Beautiful Bill Act (the “OBBBA”), which was passed on July 4, 2025, included several changes to the energy tax credits introduced and expanded by the Inflation Reduction Act of 2022 (the “IRA”). The key changes to… more

Clean Energy, Climate Change, Electric Vehicles, Energy Policy, Energy Tax Incentives

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Significant Reforms on the Horizon for Security of Payment in Victoria’s Construction Industry

Like similar regimes in other States, the Building and Construction Industry Security of Payment Act 2002 (VIC) (“Victorian SOPA”) was intended to reduce insolvency in the construction industry and enhance cash flow for… more

Australia, Conditions of Payment, Construction Contracts, Construction Project, Contract Terms

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Judge Blocks FDA Regulation of Laboratory-Developed Tests

On March 31, 2025, a judge in the Eastern District of Texas struck down a 2024 Final Rule (the "Final Rule") by the Food and Drug Administration ("FDA") that exerted jurisdiction over the regulation of laboratory-developed tests… more

Administrative Procedure Act, Appeals, Clinical Laboratories, Constitutional Challenges, Federal Food Drug and Cosmetic Act (FFDCA)

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Constitutional Reform in Mexican Electricity Sector

New laws have been issued for the Mexican electricity sector, establishing a new dynamic between the public and private sectors… more

Clean Energy, Electricity, Energy Policy, Energy Projects, Energy Reform

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EMIR 3 Published in the Official Journal of the European Union

EMIR 3, published in the Official Journal of the EU on December 4, 2024, introduces substantive changes to the existing clearing framework and margining exemptions under the EMIR Regulation… more

EMIR, EU, European Securities and Markets Authority (ESMA), Financial Markets, Securities Regulation

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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2024 Mexican Constitutional Reform Bill: Proposed Changes for Foreign Investors in the Electricity Sector

On February 5, 2024, President López Obrador sent the Reform Initiative to the Chamber of Deputies. This, in turn, was submitted to the United Commission of Constitutional and Energy Matters for review… more

Energy Projects, Federal Electricity Commission (CFE), Foreign Direct Investment, Foreign Investment, Investors

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FDIC Proposes New Requirements for Custodial Accounts to Qualify for Pass-Through

The Situation: On September 17, 2024, the Federal Deposit Insurance Corporation ("FDIC") approved a proposed rule ("the Proposal") that would establish new recordkeeping requirements for FDIC-insured depository institutions… more

Banks, Depository Institutions, FDIC, FinTech, Pass-Through Entities

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Companies to Navigate Complex and Changing Requirements Focused on Combatting Forced Labor in Supply Chains

In recent months, a wide variety of forced labor issues have caught the attention of legislators, regulators, the media, and the public. The press is also attuned to the issue of forced labor and the use of child labor in the… more

Anti-Trafficking Statutes, Child Labor, Environmental Social & Governance (ESG), Forced Labor, Human Rights

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Business Restructuring Review Vol. 24 No. 1 | January–February 2025

The Year in Bankruptcy: 2024 - A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings, and legislative developments… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 15, Commercial Bankruptcy

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Who Needs Customers, Anyway? New SEC Rules Turn Traders Into Dealers

The Securities and Exchange Commission (the "SEC" or "Commission") has adopted new rules that further define the phrase "part of a regular business" for purposes of determining whether a person is a "dealer" or "government… more

Dealers, Financial Industry Regulatory Authority (FINRA), Investment Adviser, New Rules, Registration Requirement

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Supreme Court Rules California Cannot Force Nonprofits to Disclose Donors

The U.S. Supreme Court strikes down California law requiring charitable organizations to disclose their donors to the state. On July 1, 2021, the U.S. Supreme Court in Americans for Prosperity Foundation (AFP) v. Bonta held that… more

Americans for Prosperity Foundation (AFP) v. Bonta, Charitable Donations, Charitable Organizations, First Amendment, Freedom of Association

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President Trump's Executive Order on Unleashing American Energy: Potential Foreign Investors' Claims Against the United States

On January 20, 2025, President Donald Trump issued the Executive Order on Unleashing American Energy, pausing the disbursement of grants and loans under the Inflation Reduction Act ("IRA") and the Infrastructure Investment and… more

Arbitration, Clean Energy, Energy Policy, Executive Orders, Federal Funding

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Honest Application Mistakes Do Not Invalidate Copyright Registration

The Supreme Court holds that the Copyright Act's safe harbor provision preserves the validity of a copyright registration notwithstanding an inaccuracy in the underlying application based on a good-faith mistake—regardless of… more

Copyright, Copyright Applications, Copyright Registration, Intellectual Property Protection, Plain Error

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In Keeping With Global Trend, Youths Continue to Advance Climate Litigation in the United States in 2023

On August 14, 2023, a Montana state court issued a first-of-its-kind judgment in the United States in favor of young plaintiffs in climate litigation. The action Held v. Montana featured 16 youth plaintiffs alleging that state… more

Climate Action Plan, Climate Change, Due Process, Environmental Justice, Environmental Policies

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Enforcement to Endorsement: Digital Asset Executive Order and SAB 121 Rescission

President Trump signed an executive order ("EO") titled "Strengthening American Leadership in Digital Financial Technology" that signals a radical shift in the federal government's posture towards digital assets and the crypto… more

Blockchain, Cryptocurrency, Digital Assets, Executive Orders, Financial Services Industry

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Australian Court Grants Relief From Liability for Penalty Imposed on Crypto-related Product

The Federal Court of Australia has granted relief to a company under section 1317S of the Corporations Act 2001 (Cth) ("Act") following declarations that it contravened two civil penalty provisions in relation to one of its… more

Australia, Cryptocurrency, Financial Services Industry, The Corporations Act

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The Regulation of Private Markets in Australia—Where to Next?

The Australian Securities & Investments Commission ("ASIC") is increasing its focus on private markets, adopting a similar approach to other international regulators. Following on from its introduction of a dedicated private… more

ASIC, Australia, Capital Markets, Corporate Governance, Investment Funds

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EU Standards for Threat-Led Penetration Testing: New Cyber Compliance Imperatives for Financial Institutions

The EU has introduced Delegated Regulation (EU) 2025/1190, establishing the first harmonized standards for threat-led penetration testing ("TLPT") across the financial sector. The regulation aims to strengthen the cyber… more

Credit Institutions, Cybersecurity, Digital Operational Resilience Act (DORA), Enforcement, EU

See all updates »

New Year, New Mass Arbitration Rules From the AAA

On January 15, 2024, the American Arbitration Association ("AAA") published updates to its Mass Arbitration Supplementary Rules and Fee Schedule, aimed at streamlining the mass arbitration process and reducing costs… more

American Arbitration Association, Arbitration, Arbitration Agreements, Arbitrators, Business Disputes

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Dutch Limited Partnerships Attractive Alternative to Luxembourg and Irish Fund Structuring

Proposed changes to Dutch tax law will make Dutch limited partnerships attractive private equity and venture capital fund and feeder fund alternatives to Irish and Luxembourg equivalents. A Dutch limited partnership… more

Business Entities, Business Taxes, Corporate Taxes, International Tax Issues, Limited Partnership Agreements

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The UK, France, and Switzerland Form New Anti-Corruption Enforcement Task Force

On March 20, 2025, the UK's Serious Fraud Office ("SFO"), France's National Financial Prosecutor's Office ("PNF"), and the Office of the Attorney General of Switzerland ("OAG") announced the creation of a new task force to… more

Anti-Corruption, Bribery, Corporate Counsel, Corruption, Enforcement Actions

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Petitioner Mistakenly Ignores Not-So-Optional Claim Limitation

The PTAB recently excluded a portion of Duration Media LLC’s (Petitioner) reply declaration for containing improper new evidence in an inter partes review petition filed against Rich Media Club LLC (Patent Owner) challenging all… more

Advertising, Digital Media, Evidence, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding

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Court Rules DOL's ALJ Enforcement Scheme Likely Unconstitutional

A government contractor challenged a U.S. Department of Labor ("DOL") Office of Federal Contract Compliance Programs ("OFCCP") enforcement scheme in federal court as violating the United States Constitution. The contractor… more

Administrative Law Judge (ALJ), Article II, Constitutional Challenges, Corporate Counsel, Department of Labor (DOL)

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Business Restructuring Review November–December 2023 | Vol. 22 No. 6

Health Care Provider Bankruptcy Update: Patient Care Ombudsman Not Necessary In Every Health Care Business Bankruptcy Case - Recent headlines have starkly illuminated the headwinds facing health care providers struggling to… more

Bankruptcy Code, Bankruptcy Court, Bankruptcy Trustees, Banks, Chapter 11

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CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making

Carbon capture utilization and storage (“CCUS”) refers to technologies that enable carbon dioxide (“CO2”) emissions from industrial sources to be captured and either used in a way that limits or prevents them from being emitted… more

Asia Pacific, Association of Southeast Asian Nations (ASEAN), Carbon Capture and Sequestration, Climate Change, Energy Policy

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EU Standards for Threat-Led Penetration Testing: New Cyber Compliance Imperatives for Financial Institutions

The EU has introduced Delegated Regulation (EU) 2025/1190, establishing the first harmonized standards for threat-led penetration testing ("TLPT") across the financial sector. The regulation aims to strengthen the cyber… more

Credit Institutions, Cybersecurity, Digital Operational Resilience Act (DORA), Enforcement, EU

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The District of Delaware Announces New Procedures for Assigning Civil Cases

On May 26, 2017, the United States District Court for the District of Delaware announced new procedures for assigning cases and handling case-dispositive issues… more

Courthouses, Judge Stark, Judges, Patents, State of Incorporation

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TSA Releases Proposed Rule to Enhance Pipeline and Railroad Cyber Risk Management

The Transportation Security Administration's ("TSA") proposed rule would require owners and operators of certain pipeline, freight railroad, passenger railroad, rail transit, and over-the-road bus ("OTRB") systems to strengthen… more

Comment Period, Cybersecurity, Infrastructure, Oil & Gas, Pipelines

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Telehealth Awareness Week: Insights on Telehealth

In support of the American Telemedicine Association's Telehealth Awareness Week (September 19-25, 2021), Jones Day's Digital Health team shared key insights on various legal topics applicable to telehealth. Jones Day's… more

Coronavirus/COVID-19, Digital Health, Health Care Providers, Health Insurance Portability and Accountability Act (HIPAA), Infectious Diseases

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Federal Circuit Affirms Despite Claim Construction Error

The Federal Circuit upheld the PTAB’s decision deeming an integrated circuit connector patent unpatentable for obviousness, despite concluding that the Board’s claim construction was erroneous. The Court also rejected a… more

Appeals, Claim Construction, Computer-Related Inventions, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding

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Double-Dip Financings: The Next Wave in European Liability Management?

A “double-dip” structure is considered a way to allow some creditors to have multiple claims against key obligors arising out of the same underlying transactions. These additional claims could improve their position relative to… more

Commercial Bankruptcy, Corporate Restructuring, Creditors, Debt, Debtors

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Antitrust/M&A - Year-in-Review 2024

2024 was a significant year for merger enforcement worldwide. In the United States, the Biden administration continued the aggressive approach reflected in the revamped Merger Guidelines issued in December 2023. In Europe, the… more

Acquisition Agreements, Anti-Competitive, Antitrust Provisions, Competition, Corporate Sales Transactions

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DDADUE Law Ushers in a New Era for Class Actions in France

On April 30, 2025, France enacted a new law aimed at aligning French law with EU law (known as the "DDADUE Law"), which, under Article 16, introduces a new class action regime fully in line with the EU Representative Actions… more

Class Action, Damages, EU Directive, France, Jurisdiction

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New York Proposes Exemption From Bar to Contribution Claims for PFAS Cleanup

The proposed amendment to NY law establishes a right to contribution for cost-recovery claims for settling parties in tort actions who clean up PFAS contamination. Per- and polyfluoroalkyl substances ("PFAS") are synthetic… more

CERCLA, Contamination, Hazardous Substances, PFAS, Toxic Chemicals

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Antitrust/M&A - Year-in-Review 2024

2024 was a significant year for merger enforcement worldwide. In the United States, the Biden administration continued the aggressive approach reflected in the revamped Merger Guidelines issued in December 2023. In Europe, the… more

Acquisition Agreements, Anti-Competitive, Antitrust Provisions, Competition, Corporate Sales Transactions

See all updates »

European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

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European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Capital Markets, EU, European Banking Authority (EBA), European Commission

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BIS Releases Rules to Revise and Expand Controls Relating to Semiconductors and Advanced Computing

The U.S. Department of Commerce's Bureau of Industry and Security ("BIS") recently released two rules to update export controls on advanced semiconductors, semiconductor development and production, and items that support… more

Bureau of Industry and Security (BIS), China, Export Administration Regulations (EAR), Export Controls, Exports

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Federal Circuit Slices PTAB’s Printed Publication Finding

Recently, the Court of Appeals for the Federal Circuit reversed one and vacated another Patent Trial and Appeal Board (“PTAB”) final written decision in which the PTAB determined that Weber Inc. (“Weber”) failed to demonstrate… more

Appeals, Final Written Decisions, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Inventions

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Are Employers Obliged to Maintain a Daily Register of Working Hours in Spain?

In March and April 2017, the Supreme Court's Employment Chamber resolved (through Judgments 246/2017 and 338/2017) that, as a general rule, there is no legal obligation for companies to maintain a daily record of the employee's… more

Employer Liability Issues, Over-Time, Payroll Records, Salary/Wage History, Spain

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Pennsylvania Court Strikes Down Participation in the Regional Greenhouse Gas Initiative

On November 1, 2023, the Pennsylvania Commonwealth Court held that the rulemaking entering Pennsylvania into the Regional Greenhouse Gas Initiative ("RGGI") violated the state constitution. The decision upends regulatory efforts… more

Cap-and-Trade, Energy Policy, Environmental Policies, Fees, Greenhouse Gas Emissions

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Nigeria Launches Investigations into Noncompliance with Nigeria Data Protection Act 2023

The Nigeria Data Protection Act 2023 ("NDP Act") seeks to safeguard the fundamental rights, freedoms, and interests of data subjects as enshrined under the Constitution of the Federal Republic of Nigeria… more

Data Privacy, Data Protection, Enforcement Actions, Nigeria, Registration Requirement

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Global Enforcement And Asset Recovery Series - Series Article 2: Asset Disclosure

In the context of asset recovery, a successful outcome largely depends on the ability of a claimant to garner sufficient disclosure of assets that are amenable to enforcement. This, in turn, explains why the powerful injunctive… more

Asset Recovery, Corporate Structures, Criminal Prosecution, Debtors, Disclosure Requirements

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France Adopts Reindustrialization Measures

In Short - The Situation: A new set of measures has been adopted in France which will promote "Green Industry" by streamlining environmental and industrial authorization and supporting low-carbon industrialization projects… more

Climate Action Plan, Construction Project, Environmental Policies, France, Green Buildings

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SEC Settlement with Company, Ex-CEO Signals Continued Focus on Executive Perks

The recent SEC settlement with Gulfport Energy and its former CEO suggests a hard line approach to executive perks and compensation disclosures, even where expenses relate to business activities. On February 24, 2021, the… more

Compensation & Benefits, Corporate Counsel, Corporate Governance, Executive Compensation, Internal Controls

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New York State Prohibits Retaliation Against Employees Who Use Legally Protected Leave

Under legislation signed into law last week, New York employers cannot assess points, deduct time from a time bank, or otherwise penalize an employee for using a legally protected absence. The law takes effect February 20, 2023… more

Employer Liability Issues, Retaliation, State Labor Laws, Wage and Hour

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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The Long Arm of the CFTC: What Stakeholders in Brazil and Latin America Should Know

Established in 1974 in Washington, D.C., the CFTC was originally responsible for overseeing and regulating the commodity futures and options markets in the United States. Initially, its primary focus was to regulate trading of… more

Brazil, CFTC, Commodity Exchange Act (CEA), Derivatives, Enforcement Actions

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CMS Finalizes The Increasing Organ Transplant Access Model

The Increasing Organ Transplant Access Model ("IOTA Model") introduces mandatory financial incentives and penalties for selected kidney transplant hospitals… more

Anti-Kickback Statute, Centers for Medicare & Medicaid Services (CMS), Final Rules, Healthcare, Hospitals

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FERC's Climate Review in Flux

The United States Federal Energy Regulatory Commission's ("FERC") approach to the way it assesses climate impacts in natural gas pipeline and LNG facility proceedings looks to remain uncertain in 2023. FERC's climate review has… more

Energy Sector, FERC, Greenhouse Gas Emissions, Natural Gas, Oil & Gas

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Navigating Tariffs and Income Taxes and Transfer Pricing

In this new trade landscape, it is more important than ever to coordinate customs and operational planning with income taxes and transfer pricing… more

Customs, First Sale Doctrine, Foreign Policy, Foreign Relations, Goods or Services

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Governor Kemp Issues Executive Order Permitting Virtual Shareholder Meetings for Georgia Corporations

The Situation: In light of the public health and safety concerns associated with the spread of the novel coronavirus disease ("COVID-19"), public companies across the country are taking steps to hold virtual meetings or allow… more

Coronavirus/COVID-19, Corporate Governance, Governor Kemp, Publicly-Traded Companies, Shareholder Meetings

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Federal Court Applies Charitable Organization Exemption in Telephone Consumer Protection Act Case

The Situation: A federal court recently weighed in on some of the considerations involved in applying the Telephone Consumer Protection Act's ("TCPA") exemption for charities and the third-party services that conduct fundraising… more

Do Not Call List, First Amendment, Fundraisers, Nonprofits, Solicitation

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UAE Ministry of Justice Encourages Dubai Courts to Find Reciprocity When Considering Enforcement of English Court Judgments

In Short - The Situation: On September 13, 2022, the United Arab Emirates ("UAE") Ministry of Justice ("MoJ") sent a letter to the Dubai courts stating that the MoJ considers the recent UK High Court decision in Lenkor… more

Enforcement of Foreign Judgments, Foreign Judgments, International Litigation, Reciprocity Rules, United Arab Emirates (UAE)

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Prioritizing Emerging Technologies: DOT Seeks Comments on NETT Council's Future Work

On March 9, 2022, DOT published a request for public comment, due April 8, 2022, to shape the NETT Council's future direction. Created in April 2019, the NETT Council is an internal DOT body providing a specific avenue for… more

Automation Systems, Connected Cars, Department of Transportation (DOT), Driverless Cars, Emerging Technologies

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Clarity in Singapore: How COMI Is Determined Under the UNCITRAL Model Law on Cross-Border Insolvency

In re Fullerton Capital Ltd [2025] SGCA 11, a BVI-incorporated company entered into insolvency proceedings in the British Virgin Islands ("BVI"). The liquidators sought recognition of the BVI liquidation as a "foreign main… more

Appeals, British Virgin Islands, COMI, Commercial Bankruptcy, Cross-Border

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Federal Circuit Reverses District Court’s Application Of Collateral Estoppel

Kroy IP Holdings, LLC sued Groupon, Inc., alleging infringement of 13 claims of U.S. Patent No. 6,061,660 (“’660 patent’), which relates to incentive programs over computer networks. Those claims were invalidated via successful… more

Appeals, Appellate Courts, Collateral Estoppel, Computer-Related Inventions, Evidence

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Federal Court Holds False Claims Act's Qui Tam Provisions Unconstitutional

In a potentially seismic development, a federal district court held that the False Claims Act's qui tam provisions violate the Constitution's Appointments Clause—a ruling that, if upheld, would upend the landscape of FCA… more

Article II, Constitutional Challenges, False Claims Act (FCA), Qui Tam

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The Federal Circuit Expands Scope of Domestic Industry Requirement in Lashify

In Lashify v. ITC, the Federal Circuit held that the economic prong of the domestic industry requirement, which is a precondition for obtaining International Trade Commission Section 337 relief, can be satisfied with investments… more

Appeals, Corporate Counsel, Enforcement Actions, Intellectual Property Protection, Patent Infringement

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California Prosecutors Aggressively Pursue Compliance With Medical and Hazardous Waste Disposal Requirements

Health care facilities' compliance with medical and hazardous waste disposal laws comes under scrutiny in recent—and costly—investigations in California… more

California, Enforcement Actions, Environmental Policies, Hazardous Waste, Healthcare

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Texas Supreme Court to Further Examine Disclaimer of Reliance Clauses

The Texas Supreme Court is scheduled to review reliance disclaimer clauses and their enforceability in December 2018 and may provide further guidance on these issues. The Texas Supreme Court recently granted review in… more

Anti-Reliance Clauses, Contract Disputes, Contract Terms, Fraudulent Inducement, Oral Argument

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Bank Merger and Acquisition Policy Changes: The Opportunity Is Now

Banking agencies and the DOJ have signaled an openness to bank M&A where the combined institutions will enhance competition, customer benefits, technological innovation, and enterprise risk management… more

Acquisition Agreements, Antitrust Provisions, Banks, Department of Justice (DOJ), Federal Reserve

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PTAB Announces Rules Formalizing Director Review

In 2021, following the Supreme Court’s Arthrex decision, the PTO issued an interim procedure for requesting Director Review. The PTO has now issued a Notice of Proposed Rulemaking (“NPRM”) formalizing the Director Review… more

Administrative Review, America Invents Act, Final Written Decisions, Notice of Proposed Rulemaking (NOPR), NPRM

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France Adopts a New Decree Reinforcing the Effectiveness of the French Blocking Statute

Pursuant to Decree No. 2022-207 dated February 18, 2022, companies receiving discovery demands or requests for information from foreign authorities now must turn to the Strategic Information and Economic Security Department… more

Blocking Statutes, Discovery, Document Requests, EU, Foreign Entities

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Greenwashing Landscape: Existing and Forthcoming Legislation in the United Kingdom and European Union

In Short - The Situation: Both the United Kingdom and European Union have recently announced proposals to introduce new legal instruments which address alleged greenwashing. When implemented, such legislation would… more

Climate Change, Environmental Social & Governance (ESG), EU, Greenhouse Gas Emissions, Greenwashing

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Australian High Court: Compulsory Examination of Employee not Tantamount to Compulsion of Corporate Accused

The Situation: In 2016, a helicopter pilot died after he fell into a hidden ice crevasse in Antarctica. At the Coronial inquest, the coroner issued a subpoena requiring the chief pilot of the helicopter company to give evidence… more

Criminal Prosecution, Employer Liability Issues, Evidence, Workplace Injury, Workplace Safety

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China Boosts Enforcement of Anti-Foreign Sanctions Law

China has recently taken several actions showing its commitment to counter trade restrictions imposed by other countries. In March 2025, it released regulations implementing the 2021 Anti-Foreign Sanctions Law. In tandem with… more

China, Economic Sanctions, Enforcement Actions, Exports, Foreign Policy

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Second Circuit—Once Again—Overturns on Comity Grounds Multi-Million Dollar Price-Fixing Judgment

The U.S. Court of Appeals for the Second Circuit recently issued a decision in In re Vitamin C Antitrust Litigation, reversing a $148 million price-fixing judgment against two Chinese exporters of vitamin C, remanding the case… more

Anti-Competitive, Antitrust Litigation, Antitrust Violations, Application of Foreign Laws, China

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CFTC Goes Beyond the Law to Pursue Nonexistent "Markets"

In Short - The Situation: The Commodity Futures Trading Commission ("CFTC") staff have issued—and the Commission is now enforcing—a new interpretation of "swap execution facility" that expands the Commodity Exchange Act's… more

CFTC, Commodities, Swap Execution Facilities, Swaps

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American Airlines Successfully Defends Helms-Burton Act Win

In the first published appellate opinion addressing a lawsuit under the Helms-Burton Act, the United States Court of Appeals for the Fifth Circuit held that the plaintiff failed to satisfy a statutory precondition because he… more

American Airlines, Confiscated Property, Cuba, Helms-Burton Act, Inheritance

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EU Consumer Rights Enforcement—Penalties Ahead

The Situation: The recent EU Commission proposal for a tightening of consumer protection regulations envisages, in one of its pillars, to step up government enforcement of EU consumer rules, including by introducing a harmonized… more

Consumer Protection Laws, Consumer Rights Directive, Contract Terms, Cross-Border, Enforcement

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SEC Abandons Defense of Climate Disclosure Rules

The U.S. Securities and Exchange Commission (SEC) voted to halt its defense of the climate disclosure rules introduced under the leadership of former SEC Chair Gary Gensler… more

Climate Change, Deregulation, Disclosure Requirements, Final Rules, Financial Reporting

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Congress Expands Orphan Drug Exemptions From Medicare Price Negotiations

The One Big Beautiful Bill Act ("OBBB") expands exemptions for orphan drugs from mandatory Medicare price negotiations and modifies their eligibility timeline… more

Drug Pricing, Health Insurance, Healthcare, Medicare, New Legislation

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DIFC Courts Affirm Enforceability of Foreign Interim Arbitral Awards

In Neal v. Nadir [2024] DIFC A 001, the Dubai International Finance Centre ("DIFC") Court of Appeal held that provisional arbitration awards issued by tribunals seated outside the DIFC are enforceable within the DIFC. The… more

Arbitration, Arbitration Awards, Business Disputes, Business Litigation, DIFC

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Qualified Small Business Stock Benefits Expanded in New Tax Bill

The One Big Beautiful Bill Act expands the qualified small business stock benefits available to founders and investors… more

Federal Budget, Internal Revenue Code (IRC), Investors, IRS, New Legislation

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USPTO Issues New Guidance for Inventions Assisted by Artificial Intelligence: Human Contribution Is Key

The Background: In response to the Biden administration's "Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence" on October 30, 2023, the U.S. Patent and Trademark Office ("USPTO")… more

Artificial Intelligence, Biden Administration, Executive Orders, Intellectual Property Protection, Inventions

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China Finalizes Its First Anti-Corruption Guidelines for the Health Care and Life Sciences Industry

On January 14, 2025, China's State Administration for Market Regulation ("SAMR"), the primary regulatory agency in China for overseeing market supervision, issued its Compliance Guidelines for Health Care Companies to Prevent… more

Anti-Corruption, Bribery, China, Corporate Governance, Enforcement Actions

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The Climate Report | Second Quarter 2022

REGULATORY ISSUES & UPDATES - UK Introduces New Climate-Related Disclosure Regulations for UK Companies and LLPs - The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 ("the… more

Biden Administration, Climate Action Plan, Climate Change, Corporate Governance, Corporate Social Responsibility

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State Attorneys General Increasing Oversight and Focus on Private Equity in Health Care Industry

State attorneys general ("AGs") have long had unique police powers over a variety of health care providers in their states. Recently, AGs in several states have used this authority to scrutinize consolidation and corporate… more

Acquisition Agreements, Competition, Health Care Providers, Healthcare, Healthcare Facilities

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REPowerEU: A New Energy Landscape for Europe

In March 2022, the European Commission published "REPowerEU," a blueprint of its planned changes to the regulation of European Union energy markets in direct response to the Russian invasion of Ukraine in February 2022. At its… more

Energy Sector, EU, Liquid Natural Gas, Natural Gas, Oil & Gas

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Lack of Injury In Fact Scuttles Appeal

The Federal Circuit dismissed Platinum Optics Technology Inc.’s (PTOT) appeal from an IPR decision, finding the challenged claims of Viavi’s U.S. Patent No. 9,354,369 not unpatentable, because PTOT failed to establish an injury… more

Appeals, Article III, Injury-in-Fact, Inter Partes Review (IPR) Proceeding, Patent Infringement

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EPA Proposes Repeal of 2024 Mercury and Air Toxics Standards Amendments

On June 11, 2025, the U.S. Environmental Protection Agency ("EPA") announced a proposed rule to repeal key amendments to the 2024 Mercury and Air Toxics Standards ("MATS") for coal- and oil-fired electric utility steam… more

Air Pollution, Clean Air Act, Coal Industry, Comment Period, Deregulation

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DOJ Resumes FCPA Enforcement Under New Guidelines Prioritizing the Protection of American Interests

In response to President Trump's February 10, 2025, Executive Order pausing DOJ FCPA enforcement (the "Executive Order"), on June 9, 2025, the DOJ issued new guidelines (the "Guidelines"), which prioritize the enforcement of… more

Anti-Corruption, Bribery, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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Acting Director Clarifies Multi-Petition Policy for Competing Constructions

On June 25, 2025, Acting Director Coke Stewart released an informative decision vacating institution of inter partes review (“IPR”) based on two petitions that were primarily filed to present two different constructions… more

Claim Construction, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Invalidity

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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Acting Director Denies IPR Institution Based on “Settled Expectations”

Under a new U.S. Patent and Trademark Office (“USPTO”) policy issued in March 2025, pre-institution inter partes review (“IPR”) proceedings are now bifurcated, consisting of a first phase in which the director considers… more

Hatch-Waxman, Intellectual Property Litigation, Inter Partes Review (IPR) Proceeding, National Security, Orange Book

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SEC Settles Charges with Keurig Over ESG Disclosures

On September 10, 2024, the SEC settled charges against Keurig for "incomplete and inaccurate" ESG disclosures about the recyclability of Keurig's K-Cup pods, signaling a continued focus on environmental-related disclosures… more

Climate Change, Disclosure Requirements, Enforcement Actions, Environmental Social & Governance (ESG), Keurig Inc

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PTAB Reconciles Its Prior §101 Ruling With CBM Institution

Following guidance from the Federal Circuit, the PTAB has vacated a previous Board decision granting Covered Business Method review in Apple, Inc. v. Universal Secure Registry LLC (P.T.A.B. Dec. 3, 2018). The PTAB’s decision… more

Abstract Ideas, Apple, Covered Business Method Patents, Covered Business Method Proceedings, Inventions

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EU AI Act: European Commission Publishes General-Purpose AI Code of Practice

The European Union's Artificial Intelligence Act ("AI Act") establishes a comprehensive, risk-based regulatory framework including provisions relating to general-purpose AI ("GPAI") models that apply as from 2 August 2025. In… more

Artificial Intelligence, Copyright, EU, European Commission, Innovative Technology

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Proposed California Legislation Aims to Phase Out Ultra-Processed Foods From School Meals

California Assembly Bill 1264 reflects continued state interest in restrictive legislation directed at the food and beverage industry and, in particular, food additives… more

California, Executive Orders, Food and Drug Administration (FDA), Food Safety, Legislative Agendas

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California Mandates Representation of Underrepresented Communities on Boards of Public Corporations

The Situation: California's governor recently signed into effect a new law requiring public corporations whose principal executive offices are located in California to have a certain minimum number of individuals from… more

Board of Directors, Corporate Governance, Diversity, Form 10-K, Fourteenth Amendment

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Innovative Insights: Legal Updates in Life Sciences | First Quarter 2025

Artificial intelligence is revolutionizing life science R&D (particularly in the realm of drug discovery) and challenging the traditional "human inventorship" requirement for U.S. patents. Recent guidance from the USPTO… more

Artificial Intelligence, Drug Pricing, Earn-Outs, Federal Funding, Foreign Aid

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Australian Federal Court Adopts Novel Approach in Dealing with Competing Class Actions

The Situation: Competing class actions, particularly in relation to shareholder claims, have increased in Australia and imposed unnecessary costs on respondents. In Perera v GetSwift Limited [2018] FCA 732, Lee J of the Federal… more

Abuse of Process, Australia, Case Consolidation, Class Action, Class Members

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No Exceptions to Procedural Requirements Under Australia's Security of Payments Legislation

The Situation: For over a decade, all Australian jurisdictions have had in place security of payment ("SOP") legislation—statutory regimes providing for the submission and payment of progress claims, and resolution of payment… more

Australia, Construction Contracts, Construction Industry, Contractors, Security of Payment Act

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Singapore Court Issues Landmark Decision Recognizing Indonesian Restructuring Plan

The Singapore International Commercial Court ("SICC") has handed down its first insolvency-related ruling. The court granted recognition and full force and effect to Indonesia's flagship airline's restructuring plan. That plan… more

Airlines, Aviation Industry, Bankruptcy Code, Bankruptcy Court, Commercial Bankruptcy

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Shock and Law: UK Government's Surprise Proposal to Ban Upward-Only Rent Reviews

For years, upward-only rent reviews have been a cornerstone of the UK commercial property market, offering landlords and investors a reassuring degree of income security and predictability… more

Commercial Leases, Commercial Property Owners, Investors, Landlord and Tenant Acts, Landlords

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President Trump's Executive Order on Unleashing American Energy: Potential Foreign Investors' Claims Against the United States

On January 20, 2025, President Donald Trump issued the Executive Order on Unleashing American Energy, pausing the disbursement of grants and loans under the Inflation Reduction Act ("IRA") and the Infrastructure Investment and… more

Arbitration, Clean Energy, Energy Policy, Executive Orders, Federal Funding

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European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

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CJEU Grants Jurisdiction Over Foreign IP Infringement Cases

The Court of Justice of the European Union ("CJEU") issued a landmark decision on February 25, 2025, in the case of BSH Hausgeräte GmbH v. Electrolux AB. The ruling extends the jurisdiction of EU courts to adjudicate… more

Copyright, Copyright Infringement, Corporate Counsel, Design Patent, Enforcement Actions

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DDADUE Law Ushers in a New Era for Class Actions in France

On April 30, 2025, France enacted a new law aimed at aligning French law with EU law (known as the "DDADUE Law"), which, under Article 16, introduces a new class action regime fully in line with the EU Representative Actions… more

Class Action, Damages, EU Directive, France, Jurisdiction

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Two Week Deadline for PTAB to Issue Notice of Filing Date Accorded

On July 18, 2025, Scott R. Boalick, Chief Administrative Patent Judge for the Patent Trials and Appeals Board (“PTAB”), announced that, absent good cause, the PTAB will issue a Notice of Filing Date Accorded within 14 days from… more

Denial of Institution, Filing Deadlines, Intellectual Property Litigation, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding

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New York Legislators Consider Sweeping Bill Banning PFAS

With Assembly Bill A3556C, New York joins a growing list of states considering or enacting broad bans on the sale and distribution of products containing per- and polyfluoroalkyl substances ("PFAS")… more

Environmental Policies, Importers, Industrial Products, Legislative Agendas, Manufacturers

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Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

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IRS Increases Enforcement Efforts on Large Businesses

The IRS continues to expand its enforcement activities, announcing a new compliance campaign to examine large businesses with issues arising out of the TCJA and CARES Act. The IRS Large Business and International ("LB&I")… more

CARES Act, Compliance, International Tax Issues, IRS, Large Business & International Division (LB&I)

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EU Standards for Threat-Led Penetration Testing: New Cyber Compliance Imperatives for Financial Institutions

The EU has introduced Delegated Regulation (EU) 2025/1190, establishing the first harmonized standards for threat-led penetration testing ("TLPT") across the financial sector. The regulation aims to strengthen the cyber… more

Credit Institutions, Cybersecurity, Digital Operational Resilience Act (DORA), Enforcement, EU

See all updates »

FDA Announces Proposed Rule Regarding Laboratory Developed Tests

The highly anticipated rule, which would make explicit that LDTs are medical devices subject to FDA oversight, proposes to end the agency's general enforcement discretion approach to such devices… more

Comment Period, FDA Approval, Food and Drug Act, Food and Drug Administration (FDA), Healthcare

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The "Great Rebuilding of America's Crumbling Infrastructure"

From the start of his presidential campaign, President Donald J. Trump made America's "crumbling infrastructure" one of his top priorities, promising a $1 trillion investment in the infrastructure sector over a ten-year period… more

Appropriations Bill, Federal Funding, Infrastructure, Infrastructure Financing, Legislative Agendas

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New EPA Positions Reflected in Sweeping Rollback of Greenhouse Gas Regulation

The Environmental Protection Agency ("EPA") proposed a rule that would rescind the 2009 Endangerment Finding, citing a new interpretation of the relevant section in the Clean Air Act ("CAA"), a lack of clear congressional intent… more

Administrative Procedure Act, Clean Air Act, Climate Change, Constitutional Challenges, Endangerment Finding

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CMS Updates Kidney Care Choices Model

The Center for Medicare and Medicaid Innovation ("CMMI") announced sweeping changes to the Kidney Care Choices Model ("KCC Model"), a key set of value-based programs… more

Centers for Medicare & Medicaid Services (CMS), CMMI, Health Care Providers, Health Insurance, Healthcare

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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Statutory Protections vs. Freedom of Contract: A Shift in the Balance?

The Situation: Australian courts have struggled with balancing the broad statutory protections afforded to consumers and businesses whilst giving effect to the contractual bargains of well-advised, sophisticated commercial… more

Australia, Australian Consumer Law, Cause of Action Accrual, Construction Contracts, Damage Caps

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Recent SEC Enforcement Action Stresses Importance of Not Impeding Whistleblower Communications with Regulators

The Situation: The SEC has brought another in a growing list of whistleblower cases critical of entities for potentially attempting to impede an individual from communicating with the agency. In July 2010, the Dodd-Frank Wall… more

Corporate Counsel, Dodd-Frank, Enforcement Actions, Rule 21F-17, Securities and Exchange Commission (SEC)

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SEC Adopts Long-Awaited and Heavily Debated Private Fund Adviser Rules

The U.S. Securities and Exchange Commission ("SEC") adopted multiple rules that will impact private funds, governing documents, and side letters… more

Financial Services Industry, Investment Adviser, New Rules, Private Equity, Private Funds

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Unified Patent Court: First Ruling on Equivalent Infringement

The doctrine of equivalents is a staple patent law principle, addressing the tension between providing fair protection to innovative ideas and ensuring legal certainty for third parties. However, like most patent laws, the… more

Appeals, Corporate Counsel, Doctrine of Equivalents, EU, European Patent Convention

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Biden Infrastructure Plans Could Spur Clean Energy Deals

On March 31, 2021, President Biden proposed the American Jobs Plan ("Biden’s Plan I"), a $2.3 trillion infrastructure plan to invest in roads, transportation, water, broadband, and clean energy. In response, on April 22, 2021,… more

Acquisitions, Biden Administration, Clean Energy, Energy Sector, Environmental Policies

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SEC Adopts Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure

In Short - The Situation: On July 26, 2023, the U.S. Securities and Exchange Commission ("SEC") adopted final rules that significantly alter cybersecurity disclosure obligations for companies. The SEC's final rules adopt… more

Corporate Governance, Cyber Attacks, Cyber Incident Reporting, Cybersecurity, Disclosure Requirements

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The UK, France, and Switzerland Form New Anti-Corruption Enforcement Task Force

On March 20, 2025, the UK's Serious Fraud Office ("SFO"), France's National Financial Prosecutor's Office ("PNF"), and the Office of the Attorney General of Switzerland ("OAG") announced the creation of a new task force to… more

Anti-Corruption, Bribery, Corporate Counsel, Corruption, Enforcement Actions

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CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making

Carbon capture utilization and storage (“CCUS”) refers to technologies that enable carbon dioxide (“CO2”) emissions from industrial sources to be captured and either used in a way that limits or prevents them from being emitted… more

Asia Pacific, Association of Southeast Asian Nations (ASEAN), Carbon Capture and Sequestration, Climate Change, Energy Policy

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FinCEN Clarifies Application of Beneficial Ownership Reporting Rules to Dissolved Entities

Reporting companies should take note of a recent clarification by the Financial Crimes Enforcement Network ("FinCEN") that the Beneficial Ownership Information ("BOI") Rule requires reporting companies that exist on or after… more

Beneficial Owner, Dissolution, Filing Deadlines, Financial Crimes, Financial Regulatory Reform

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Federal Court Rejects CFPB's Novel Use of "Unfair, Deceptive, or Abusive Acts or Practices" Authority

Ruling concludes "unfairness" authority under the Dodd-Frank Act does not cover discrimination. On September 8, 2023, a federal district court rejected the Consumer Financial Protection Bureau's ("CFPB") interpretation that… more

Anti-Discrimination Policies, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Dodd-Frank, ECOA

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ISDA Publishes Financial Power Purchase Agreement (FPPA) Template

Renewable power purchase agreements that do not require the physical delivery of energy between parties ("Financial Power Purchase Agreements" or "FPPAs") have been on the rise across the globe, leading many market participants… more

Derivatives, Energy Policy, ISDA, Power Purchase Agreements, Swaps

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China Finalizes Its First Anti-Corruption Guidelines for the Health Care and Life Sciences Industry

On January 14, 2025, China's State Administration for Market Regulation ("SAMR"), the primary regulatory agency in China for overseeing market supervision, issued its Compliance Guidelines for Health Care Companies to Prevent… more

Anti-Corruption, Bribery, China, Corporate Governance, Enforcement Actions

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European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

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No Time Limit for Damages from Copyright Infringement

The Supreme Court held that copyright owners who file a timely claim may obtain damages no matter when the copyright infringement occurred… more

Copyright, Copyright Infringement, Copyright Litigation, Copyright Ownership, Damages

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Global Enforcement And Asset Recovery Series - Article 1: Recognition And Enforcement Of Judgments And Arbitral Awards

Getting a judgment or award does not automatically mean getting paid. Particularly where judgment or award debtors are in less familiar jurisdictions, there can be a strong incentive to delay or avoid payment. From the… more

Arbitration, Arbitration Agreements, Arbitration Awards, Asset Recovery, Dispute Resolution

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California Becomes the First State to Ban Four Common Food Additives

With the swipe of a pen, California Governor Gavin Newsom starts the California Food Safety Act countdown to a 2027 statewide ban on four popular food additives. Starting January 1, 2027, companies manufacturing, selling,… more

Additive Manufacturing, California, Dietary Supplements, Food & Drug Regulations, Food and Drug Administration (FDA)

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The CFTC Proposes Expansive Business and Governance Rules for Registered Derivatives Markets

The Commodity Futures Trading Commission ("CFTC") recently proposed new and modified conflicts of interest, fitness, and governance regulations for swap execution facilities ("SEFs") and designated contract markets ("DCMs")… more

CFTC, Commodity Futures Modernization Act of 2000 (CFMA), Corporate Governance, Derivatives, Designated Contract Markets (DCMs)

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European Commission Unveils Plan Aimed at Strengthening Economic Security

The Development: On January 24, 2024, the European Commission ("EC") unveiled a package of five fresh initiatives aimed at strengthening the European Union's ("EU") economic security (the "Package"). This will likely increase… more

EU, European Commission, Export Controls, Foreign Direct Investment, Foreign Investment

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Another 401(k) Plan Sponsor Faces Novel Suit Regarding its Use of Forfeiture Funds

The Employee Retirement Income Security Act ("ERISA") plaintiffs' bar has found a new way to allege that 401(k) plan sponsors have breached their fiduciary duty… more

401k, Breach of Duty, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA)

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Existence != Access – Public Accessibility Must be Clear

In a recent decision, the Patent Trial and Appeals Board denied institution of inter partes review after holding that Petitioner Microsoft’s key obviousness reference did not qualify as a printed publication. Microsoft Corp. v… more

Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Microsoft, Obviousness, Patent Infringement

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New Year, New Fees: USPTO Surcharges and Fee Increases for Trademark Filings in 2025

The U.S. Patent and Trademark Office ("USPTO") will raise trademark fees across the board and introduce new application surcharges starting January 18, 2025… more

Filing Fees, Intellectual Property Protection, Madrid Protocol, Surcharges, Trademark Application

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Employee Stock Plans: International Reporting Requirements (UPDATED)

This White Paper highlights some of the principal annual or quarterly reporting requirements for employee stock plans that multinational companies most commonly encounter when offering these programs to their employees in… more

Compensation & Benefits, Employee Benefits, Employee Stock Purchase Plans, Multinationals, Regulatory Requirements

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Acting Director Denies IPR Institution Based on “Settled Expectations”

Under a new U.S. Patent and Trademark Office (“USPTO”) policy issued in March 2025, pre-institution inter partes review (“IPR”) proceedings are now bifurcated, consisting of a first phase in which the director considers… more

Hatch-Waxman, Intellectual Property Litigation, Inter Partes Review (IPR) Proceeding, National Security, Orange Book

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Additional Policyholder Allies Emerge in the Fight for COVID-19 Business Interruption Coverage

The Situation: In an ongoing effort to discourage commercial policyholders from pursuing COVID-19-related business interruption claims, the insurance industry continues to issue sweeping pronouncements of alleged "no coverage"… more

Business Interruption, Commercial Insurance Policies, Coronavirus/COVID-19, Insurance Claims, Insurance Industry

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JONES DAY TALKS®: Real Assets Roundup: A New Look at Real Estate, Energy, and Infrastructure - Episode 1

Institutional investors are redefining investments in “hard assets,” such as real estate, energy, and infrastructure into a combined “real assets” category. This change is driven by numerous factors and presents significant… more

Energy Projects, Energy Sector, Infrastructure, Institutional Investors, Investment

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I Consent: New Illinois Law Expands General Jurisdiction for Foreign Corporations Doing Business in Illinois

On August 15, 2025, Governor Pritzker signed Senate Bill 328 into law, amending Illinois's long-arm statute, Section 2-209(b), and the Illinois Business Corporation Act of 1983… more

Business Litigation, Constitutional Challenges, Environmental Litigation, Foreign Corporations, General Jurisdiction

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A Review of 2024 Labor & Employment Legislation in California

The 2024 California legislative session saw the passage of a number of new and important labor and employment laws… more

California, Employee Benefits, Employees, Employer Liability Issues, Employment Policies

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Japan Legal Update Vol. 53 | Autumn 2020

Technology - Japan Ministries Support Expansion of E-Signature Use - On September 4, 2020, the Japanese Ministry of Internal Affairs and Communications, the Ministry of Justice, and the Ministry of Economy, Trade and… more

Anti-Monopoly, Authentication, Competition, Digital Signature Standards, E-Signatures

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New Proposed Regulations Address Spin-Off Transactions

These proposed regulations applicable to tax-free spin-offs would impose a range of new substantive requirements and greatly expand the information that must be reported to the Internal Revenue Service ("IRS") by taxpayers who… more

Corporate Taxes, Filing Requirements, Internal Revenue Code (IRC), IRS, NPRM

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CMS Updates Kidney Care Choices Model

The Center for Medicare and Medicaid Innovation ("CMMI") announced sweeping changes to the Kidney Care Choices Model ("KCC Model"), a key set of value-based programs… more

Centers for Medicare & Medicaid Services (CMS), CMMI, Health Care Providers, Health Insurance, Healthcare

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New "Beginning of Construction" Guidelines Issued for Wind and Solar Tax Credits

The Internal Revenue Service ("IRS") has issued Notice 2025-42 to implement the One Big Beautiful Bill Act ("OBBBA") mandate to phase out the clean electricity production tax credit (§ 45Y) and investment tax credit (§ 48E) for… more

Clean Energy, Construction Project, Energy Projects, Federal Budget, Internal Revenue Code (IRC)

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IRS Targeting Noncompliant Qualified Opportunity Funds and Their Investors

On April 12, 2022, the Internal Revenue Service announced that starting this month, it will send letters to taxpayers requesting that they take corrective actions related to the reporting of investments in qualified opportunity… more

Capital Gains, Corrective Actions, Enforcement Priorities, Income Taxes, IRS

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Federal Court Rejects False Claims Act's Draconian Penalties

Following a jury's verdict, a federal court slashed civil penalties under the False Claims Act ("FCA") as violative of the Constitution's 8th Amendment… more

Constitutional Challenges, Damages, Eighth Amendment, Excessive Fines Clause, False Billing

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New Guidance from the Treasury Department on 1% Corporate Stock Buyback Tax

On April 9, 2024, the U.S. Treasury Department ("Treasury") issued proposed regulations and reporting requirements providing further guidance on the non-deductible 1% excise tax that was enacted on August 16, 2022 (as Section… more

Cross-Border, Cross-Border Transactions, Excise Tax, Internal Revenue Code (IRC), IRS

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Orders to Preserve Evidence (“Saisies”) at the Unified Patent Court: Two-Year Roundup and Early Insights

Evidence is a key battleground in virtually all patent litigation cases. As a Court designed to combine the best and most efficient features of the main EU national patent litigation systems, the Unified Patent Court (“UPC”)… more

Data Preservation, Dawn Raids, Discovery, Duty to Preserve, EU

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U.S. EPA's New Methane Emissions Charge – My Wallet or Yours?

On January 12, 2024, the EPA announced a proposed new rule entitled Waste Emissions Charge for Petroleum and Natural Gas Systems (the "Proposed Rule"). As required by Congress pursuant to the Inflation Reduction Act ("IRA"), EPA… more

Environmental Policies, Environmental Protection Agency (EPA), Greenhouse Gas Emissions, Inflation Reduction Act (IRA), Infrastructure

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EuroResource—Deals & Debt - March 2017

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments… more

Anti-Corruption, Avoidance, BaFin, Corporate Taxes, Creditors

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APAC ESG Update | Spring Quarter 2024

This White Paper focuses on ESG developments through the Asia-Pacific (“APAC”) region since the start of 2024. For businesses present in the APAC region, as well as doing business there, it is imperative to be vigilant of the… more

Asia Pacific, Climate Action Plan, Climate Change, Environmental Protection Agency (EPA), Environmental Social & Governance (ESG)

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Severed Knowledge: Negative Trade Secrets Through the Lens of Compartmentalized Memory

Since the passage of the Defend Trade Secrets Act ("DTSA") in 2016, courts have increasingly addressed the nuance of negative trade secrets—information about what does not work, often referred to as "negative know-how."… more

Business Litigation, Confidential Information, Damages, Defend Trade Secrets Act (DTSA), Intellectual Property Litigation

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Financial Government Support Measures Related to COVID-19 for European Corporates

The economic crisis caused by the spread of the coronavirus triggered an unprecedented response from European governments to support their economies with various measures of support. This overview summarizes the various… more

Business Interruption, Coronavirus Large Business Interruption Loan Scheme (the CLBILS), Coronavirus/COVID-19, EU, European Commission

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Federal Circuit: Petitioner Estoppel Does Not Apply to Product Prior At Grounds

In IOENGINE, LLC v. Ingenico Inc. (Fed. Cir. 2025), the Federal Circuit narrowed the scope of IPR estoppel under 35 U.S.C. § 315(e)(2), which precludes an IPR petitioner from asserting in court that a patent claim “is invalid on… more

CAFC, Estoppel, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement

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Clarity in Singapore: How COMI Is Determined Under the UNCITRAL Model Law on Cross-Border Insolvency

In re Fullerton Capital Ltd [2025] SGCA 11, a BVI-incorporated company entered into insolvency proceedings in the British Virgin Islands ("BVI"). The liquidators sought recognition of the BVI liquidation as a "foreign main… more

Appeals, British Virgin Islands, COMI, Commercial Bankruptcy, Cross-Border

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Maximizing Insurance Recoveries for Hurricane Helene Losses and the Remainder of the 2024 Hurricane Season

The Situation: On September 26, 2024, Hurricane Helene made landfall and left a path of destruction from the Florida coast through North Carolina, with total insured losses estimated in the tens of billions of dollars… more

Commercial Insurance Policies, Consumer Insurance Products, Homeowner's Insurance, Homeowners, Hurricane Season

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When Innovation Creates: Additional Developments in Artificial Intelligence at the U.S. Patent and Trademark Office

The Situation: Advances in artificial intelligence ("AI") are providing the ability to automatically create and design innovations without human assistance. AI's impact on patent, copyright, trademark, trade secret, and other… more

Artificial Intelligence, Authorship, Comment Period, Computer-Related Inventions, Copyright

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Trouble in Paradise: No Privilege for Stolen Documents

The Situation: In an era of sophisticated cyberattacks and data leaks, questions have been raised over whether the doctrine of legal professional privilege ("LPP") should be extended to provide clients with a legal right to seek… more

Corporate Counsel, Criminal Investigations, Cyber Attacks, Cybersecurity, Discovery

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New FCC Rule Affects Consumer Consent for Robocalls and Robotexts

A new FCC rule will require comparison shopping websites and lead generators to obtain consumer consent to receive robocalls and robotext messages one seller at a time… more

Auto-Dialed Calls, Cell Phones, Consent, Consent Agreements, FCC

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Financial Government Support Measures Related to COVID-19 for European Corporates

The economic crisis caused by the spread of the coronavirus triggered an unprecedented response from European governments to support their economies with various measures of support. This overview summarizes the various… more

Business Interruption, Coronavirus Large Business Interruption Loan Scheme (the CLBILS), Coronavirus/COVID-19, EU, European Commission

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Cancellation of Claims Deemed An Inappropriate Sanction

USPTO Acting Director Stewart sua sponte reconsidered and modified a previous Director Review decision that had affirmed cancellation of all 183 challenged claims as a sanction against patent owner Longhorn Vaccines. Spectrum… more

Administrative Proceedings, Duty of Candor, Inter Partes Review (IPR) Proceeding, Legal Ethics, Life Sciences

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French Blocking Statute: A Renewed Interest?

Recent laws—such as the 2016 Sapin 2 Law and the new EU General Data Protection Regulation—provide for rules that are intended to ensure compliance with the French Blocking Statute, which prohibits any French party from… more

Blocking Statutes, Cross-Border, Data Protection, Discovery, Document Productions

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New "Beginning of Construction" Guidelines Issued for Wind and Solar Tax Credits

The Internal Revenue Service ("IRS") has issued Notice 2025-42 to implement the One Big Beautiful Bill Act ("OBBBA") mandate to phase out the clean electricity production tax credit (§ 45Y) and investment tax credit (§ 48E) for… more

Clean Energy, Construction Project, Energy Projects, Federal Budget, Internal Revenue Code (IRC)

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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Business Restructuring Review Vol. 21, No. 6 | November-December 2022

On October 14, 2022, the U.S. Court of Appeals for the Fifth Circuit issued a long-awaited ruling on whether Ultra Petroleum Corp. (“UPC”) must pay a $201 million make-whole premium to noteholders under its confirmed chapter 11… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 15, Chapter 7

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European Commission President Unveils Proposed New Team of EU Commissioners and Political Priorities

The Situation: On September 17, 2024, European Commission President Ursula von der Leyen unveiled her new proposed College of Commissioners and announced key European Union ("EU") policy priorities for the next five years… more

Acquisition Agreements, Corporate Counsel, Digital Marketplace, Digital Services, EU

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CFPB Seeks to Expand Regulatory Powers Over Consumer Payment Tech Entities

On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") issued a proposed rule that would grant it supervisory authority over major nonbank technology companies in the consumer digital payments space… more

Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Credit Cards, Credit Reports, Digital Wallets

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New York's Top Court Rules 7–0: "Private" Facebook Posts Subject to Disclosure

On February 13, 2018, the New York Court of Appeals ruled unanimously that a user's "private" Facebook messages and photos are subject to disclosure where that information is "reasonably calculated to contain evidence material… more

Corporate Counsel, Discovery, Discovery Disputes, Electronically Stored Information, Evidence

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Navigating Indemnity Disputes in an Ever-Changing Legal Environment

In Short - The Background: Indemnity clauses are often included in contracts and can be extremely valuable, but they also raise many potential challenges to enforcing them, including state statutes, common law limitations,… more

Commercial General Liability Policies, Construction Contracts, Construction Project, Contract Disputes, Contract Terms

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Landmark European Commission Cartel Fines on No-poaching Agreements and Minority Shareholdings

European Commission ("EC") issues its first fining decision for a no-poach agreement, and also sanctions for the first time the exchange of sensitive information between a company and its competing, non-controlling minority… more

Acquisition Agreements, Anti-Competitive, Antitrust Violations, Competition Authorities, Corporate Counsel

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New York Enacts Climate Change Law That Fines Companies for Historical Emissions

On December 26, 2024, New York enacted a law requiring certain energy companies to contribute cumulatively $75 billion to a climate "superfund" over the next 25 years… more

Carbon Emissions, Clean Air Act, Climate Change, Constitutional Challenges, Energy Sector

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Court Rules DOL's ALJ Enforcement Scheme Likely Unconstitutional

A government contractor challenged a U.S. Department of Labor ("DOL") Office of Federal Contract Compliance Programs ("OFCCP") enforcement scheme in federal court as violating the United States Constitution. The contractor… more

Administrative Law Judge (ALJ), Article II, Constitutional Challenges, Corporate Counsel, Department of Labor (DOL)

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Maximizing Insurance Recoveries for Hurricane Helene Losses and the Remainder of the 2024 Hurricane Season

The Situation: On September 26, 2024, Hurricane Helene made landfall and left a path of destruction from the Florida coast through North Carolina, with total insured losses estimated in the tens of billions of dollars… more

Commercial Insurance Policies, Consumer Insurance Products, Homeowner's Insurance, Homeowners, Hurricane Season

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DOJ and FTC Issue New Antitrust Guidelines for Business Activities Affecting Workers

During their last week in office, and over the vigorous dissent of Republican FTC commissioners, Biden administration antitrust officials unveil new guidelines intended to replace the 2016 Antitrust Guidance for Human Resources… more

Antitrust Provisions, Antitrust Violations, Department of Justice (DOJ), Employees, Employment Contract

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Federal Court Holds False Claims Act's Qui Tam Provisions Unconstitutional

In a potentially seismic development, a federal district court held that the False Claims Act's qui tam provisions violate the Constitution's Appointments Clause—a ruling that, if upheld, would upend the landscape of FCA… more

Article II, Constitutional Challenges, False Claims Act (FCA), Qui Tam

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Brazilian Tax Amnesty Program Temporarily Mitigates Unfavorable Change to Tax Proceedings

In Short - The Background: Most Brazilian companies face tax underpayment assessments in light of a complicated tax regime. The Lula government is planning to significantly expand government expenditures and thus needs to… more

Brazil, Tax Amnesty, Tax Debt, Tax Liability, Underpayment

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CFTC Divisions Interpret "U.S. Person" Definition and U.S. Location Versus Foreign Location

A 2024 CFTC enforcement action settlement that may have introduced a new test for when the Commodity Exchange Act and the agency's regulations apply on a cross-border basis concerned then-CFTC Commissioner and now Acting CFTC… more

CFTC, Commodity Exchange Act (CEA), Cross-Border Transactions, Derivatives, Enforcement Actions

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New York Legislature Passes Bill Banning Rent Minimum Provisions in Real Estate Loan Documents

On June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents… more

Borrowers, Consumer Financial Products, Contract Terms, Financial Services Industry, Landlords

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Green Buildings: The Epicenter of Responsible Investing, ESG Disclosure Requirements and Financial Incentives

Energy-positive buildings are a hot topic in the next wave in Environmental, Social and Governance investing, in anticipation of the EU directive which will require that all new projects built are "nearly zero energy" as from… more

Asset Management, BREEAM, Climate Action Plan, Construction Industry, Disclosure Requirements

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Drop a Dime, Get a Dollar: DOJ's Antitrust Division and U.S. Postal Service Unveil Whistleblower Program

On July 8, 2025, the Department of Justice ("DOJ") and the U.S. Postal Service ("USPS") announced a Whistleblower Rewards Program that will provide financial incentives to individuals who report antitrust crimes and related… more

Antitrust Provisions, Antitrust Violations, Competition, Criminal Convictions, Department of Justice (DOJ)

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Cases Pending Before September 1, 2024, Cannot Be Removed to Texas Business Court, Dallas Court Holds

In the first opinion to address the issue, the Texas Business Court determined that it lacks jurisdiction over cases pending before September 1, 2024, even if the cases otherwise meet the jurisdictional requirements of the… more

Business Court, Business Disputes, Business Litigation, Lack of Jurisdiction, Remand

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California Enacts AI Transparency Law Requiring Disclosures for AI Content

On September 19, 2024, California adopted the California AI Transparency Act ("SB 942") to create transparency mechanisms that allow consumers to determine whether an "image, video, or audio content, or content that is any… more

Artificial Intelligence, California, Innovative Technology, Machine Learning, New Legislation

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UK Court of Appeal Provides Guidance on Interim Licenses in Latest FRAND Dispute

The United Kingdom's Court of Appeal has issued an important decision on the principles governing the grant of interim licenses in standard essential patent ("SEP") disputes… more

Appeals, Ericsson, FRAND, Good Faith, Intellectual Property Protection

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Crypto Exchange-Traded Products: Navigating the Intersection of Crypto and Securities

Direct ownership of crypto-assets or mere exposure to the value of crypto-assets is an investment decision, with both investment methods requiring specific approaches to mitigate and manage risks effectively… more

Cryptoassets, EU, Exchange-Traded Products, Financial Conduct Authority (FCA), Financial Markets

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Will German Banks Have to Scrutinize Their Customers for ESG Compliance?

German financial institutions may need to consider a risk framework for monitoring their customers' compliance with social and environmental standards. The German Federal Government recently proposed a draft act on corporate… more

Banking Sector, Environmental Social & Governance (ESG), Financial Institutions, Financial Services Industry, Germany

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FTC Finalizes Amendments to the Children's Online Privacy Protection Act Rule

On April 22, 2025, the Federal Trade Commission ("FTC") published the finalized amendments to the Children's Online Privacy Protection Act ("COPPA") Rule (the "Rule"), marking the first major update since 2013… more

COPPA, Data Privacy, Federal Trade Commission (FTC), FERPA, Final Rules

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Direct Contracting 101: Collaborations Between Employers and Health Care Providers

As employers continue to encounter escalating health care costs, many are exploring the "direct contracting" option, which allows for direct service and pricing negotiations with health care providers. While the direct… more

Affordable Care Act, Employee Contributions, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, Employer Liability Issues

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Business Restructuring Review Vol. 24 No. 1 | January–February 2025

The Year in Bankruptcy: 2024 - A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings, and legislative developments… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 15, Commercial Bankruptcy

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Georgia Limits Liability for Pesticide Manufacturers

This week, Georgia's governor signed a new pesticide labeling and liability act (SB 144) ("Act"), amending state law to limit the scope of pesticide manufacturer liability for failure to warn and aligning the state standards… more

Agribusiness, Environmental Policies, Environmental Protection Agency (EPA), Failure To Warn, FIFRA

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CMS Updates Kidney Care Choices Model

The Center for Medicare and Medicaid Innovation ("CMMI") announced sweeping changes to the Kidney Care Choices Model ("KCC Model"), a key set of value-based programs… more

Centers for Medicare & Medicaid Services (CMS), CMMI, Health Care Providers, Health Insurance, Healthcare

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Beyond Masks: German Works Councils Play Key Role in Employee Safety

The Situation: The right of German works councils to co-determine matters relating to employee health and safety takes on added significance during the COVID-19 pandemic. The Result: The works council's right of… more

Coronavirus/COVID-19, Germany, Health and Safety, Infectious Diseases, Masks

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Brazil Amps Up Enforcement of Data Protection Law

Actions in the last six months of the Brazilian National Data Protection Authority (“ANPD”) suggest that it intends to aggressively enforce the Brazilian Data Protection Law (“LGPD”). The LGPD applies to any entity that… more

Brazil, Consumer Privacy Rights, Data Breach, Data Controller, Data Privacy

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FDA's Digital Health Advisory Committee Discusses Total Product Lifecycle Considerations for GenAI-Enabled Devices

While generative artificial intelligence ("GenAI") has the potential to fundamentally change health care, it presents unique risks and complexities that challenge the U.S. Food and Drug Administration's ("FDA" or "Agency")… more

Artificial Intelligence, Digital Health, FDA Approval, Food and Drug Administration (FDA), Healthcare

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APAC ESG Update | Spring Quarter 2024

This White Paper focuses on ESG developments through the Asia-Pacific (“APAC”) region since the start of 2024. For businesses present in the APAC region, as well as doing business there, it is imperative to be vigilant of the… more

Asia Pacific, Climate Action Plan, Climate Change, Environmental Protection Agency (EPA), Environmental Social & Governance (ESG)

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FTC Weighs In on Orange Book Listing of Drug-Device Patents

On March 22, 2024, the Federal Trade Commission ("FTC") filed an amicus brief in Teva Branded Pharmaceutical Products R&D, et al. v. Amneal Pharmaceuticals of New York, LLC, et al., 2:23-cv-20964, U.S. District Court for the… more

Federal Trade Commission (FTC), Food & Drug Regulations, Food and Drug Administration (FDA), Healthcare, Intellectual Property Protection

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New York State Limits Remedies for Breach of Nondisclosure Provisions in Settlement Agreements

On November 17, 2023, New York Governor Kathy Hochul signed a law—which is effective immediately—banning clauses in agreements settling discrimination, retaliation, or harassment claims from requiring a complainant to pay… more

Breach of Contract, Confidentiality Agreements, Confidentiality Policies, Employees, Employer Responsibilities

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Japan Enacts Economic Security Law

The Japanese parliament has enacted the first comprehensive economic security legislation to enhance Japan's national security from an economic activities perspective, especially focusing on sensitive industry sectors such as… more

Critical Infrastructure Sectors, Innovative Technology, Japan, National Security, New Legislation

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DOJ Resumes FCPA Enforcement Under New Guidelines Prioritizing the Protection of American Interests

In response to President Trump's February 10, 2025, Executive Order pausing DOJ FCPA enforcement (the "Executive Order"), on June 9, 2025, the DOJ issued new guidelines (the "Guidelines"), which prioritize the enforcement of… more

Anti-Corruption, Bribery, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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PTAB Decides Concurrent IPR and PGR Petitions After Resolving Priority Date Dispute

In anticipating a dispute over whether the America Invents Act would apply, Petitioner MPL Brands NV, Inc. (“MPL”) filed concurrent petitions for both inter partes review and post-grant review of U.S. Patent No. 11,932,441… more

America Invents Act, Design Patent, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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Severed Knowledge: Negative Trade Secrets Through the Lens of Compartmentalized Memory

Since the passage of the Defend Trade Secrets Act ("DTSA") in 2016, courts have increasingly addressed the nuance of negative trade secrets—information about what does not work, often referred to as "negative know-how."… more

Business Litigation, Confidential Information, Damages, Defend Trade Secrets Act (DTSA), Intellectual Property Litigation

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Class Actions Worldview - A Study of Trends Around the Globe: A Compendium Of Jones Day’s Five-part Series Published In 2023 And 2024

Class action procedures vary greatly among jurisdictions. These differences include how developed the procedures are; the types of claims parties can bring; the parties that can represent classes; whether classes are structured… more

Class Action, Class Certification, Class Representatives, Collective Actions, Corporate Counsel

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Companies Join the Fray in the Battle of the Proxy Advisors v. Texas

On June 20, 2025, Texas passed SB 2337, a first-of-its-kind regulation of proxy advisors such as ISS and Glass Lewis. SB 2337 requires proxy advisors to, among other things, disclose when their recommendations are based, in… more

Commercial Speech, Constitutional Challenges, Corporate Governance, Disclosure Requirements, Diversity and Inclusion Standards (D&I)

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China's Revised Company Law Introduces Significant Changes for Foreign Investors

The Situation: On December 29, 2023, the Standing Committee of the National People's Congress of the People's Republic of China ("PRC" or "China") promulgated the amended Company Law of the PRC ("New Company Law"). The New… more

Business Entities, China, Corporate Governance, Foreign Investment, Limited Liability Company (LLC)

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Better Together: U.S. and EU Enter Artificial Intelligence Collaboration Agreement

The United States and European Union recently entered into an administrative agreement to collaborate on critical research related to artificial intelligence ("AI"), focusing on five key areas of significant global concern… more

Artificial Intelligence, Data Privacy, Risk Management, Technology Sector

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JONES DAY TALKS®: Tax Credits: The Original ESG Investment?

Long before ESG caught the attention of corporate boardrooms, Wall Street, and the investing public, socially responsible investing thrived in the form of tax credit investments, often in the form of incentives implemented by… more

Environmental Social & Governance (ESG), Investment Management, Real Estate Development, Tax Credits, Tax Incentives

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Department of the Treasury Issues Report Recommending U.S. Capital Markets Regulatory Reforms

The U.S. Department of the Treasury has issued a report to the President recommending extensive regulatory and legislative reforms to the U.S. capital markets. The recommendations, in response to the White House's executive… more

Bond Markets, Capital Markets, CFTC, Derivatives, Dodd-Frank

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DEA Releases Rules on Telemedicine Prescribing of Controlled Substances, Proposes Special Registrations

The Drug Enforcement Administration ("DEA") announced three new regulations related to the prescription of controlled substances resulting from a telemedicine encounter, including the long-anticipated Proposed Rule on Special… more

Controlled Substances, DEA, Health Care Providers, Healthcare Reform, Pharmaceutical Industry

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Australian Unfair Contract Terms Regime Renders Foreign Class Action Waiver Clauses Void

In Short - The Situation: In 2020, a cruise ship in Australian waters, the Ruby Princess, experienced a COVID‑19 outbreak that resulted in an Australian class action. Part of the class were passengers subject to contractual… more

Australia, Australian Consumer Law, Class Action, Class Action Arbitration Waivers, Contract Disputes

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Department of Justice Increasingly Challenges Class Settlements

The Situation: Under the Class Action Fairness Act, the Department of Justice may object to federal class action settlements it believes are unfair or inequitable to unnamed class members. The Result: In the past year, federal… more

Amended Rules, CAFA, Class Action, Corporate Counsel, Department of Justice (DOJ)

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IRS Targeting Noncompliant Qualified Opportunity Funds and Their Investors

On April 12, 2022, the Internal Revenue Service announced that starting this month, it will send letters to taxpayers requesting that they take corrective actions related to the reporting of investments in qualified opportunity… more

Capital Gains, Corrective Actions, Enforcement Priorities, Income Taxes, IRS

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New "Beginning of Construction" Guidelines Issued for Wind and Solar Tax Credits

The Internal Revenue Service ("IRS") has issued Notice 2025-42 to implement the One Big Beautiful Bill Act ("OBBBA") mandate to phase out the clean electricity production tax credit (§ 45Y) and investment tax credit (§ 48E) for… more

Clean Energy, Construction Project, Energy Projects, Federal Budget, Internal Revenue Code (IRC)

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FDIC Proposes New Requirements for Custodial Accounts to Qualify for Pass-Through

The Situation: On September 17, 2024, the Federal Deposit Insurance Corporation ("FDIC") approved a proposed rule ("the Proposal") that would establish new recordkeeping requirements for FDIC-insured depository institutions… more

Banks, Depository Institutions, FDIC, FinTech, Pass-Through Entities

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Business Restructuring Review | March–April 2021

In This Issue: Tenant's Election to Retain Possession of Rejected Lease Premises Preserves Obligations Under Related Agreements - Section 365(h) of the Bankruptcy Code provides special protection for tenants if a trustee… more

Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Corporate Restructuring, Creditors

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Lawsuit Abuse Reduction Act Would Mandate Sanctions for Frivolous Claims

On March 10, 2017, the U.S. House of Representatives passed the Lawsuit Abuse Reduction Act of 2017 ("LARA") by a vote of 230–180. 163 Cong. Rec. H2025-03, H2025. The bill seeks to undo the 1993 amendments to Rule 11 of the… more

Amended Rules, Chilling Effect, Federal Rules of Civil Procedure, FRCP 11, Frivolous Lawsuits

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2020 Anti-Money Laundering Year in Review

2020 witnessed a flurry of anti-money laundering activity, with the issues and developments continuing to be global in scope. In the United States, suspicious activity reports, outlining transactions involving terrorism finance… more

Anti-Money Laundering, Banking Sector, Beneficial Owner, Cross-Border Transactions, Financial Institutions

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The Federal Circuit Expands Scope of Domestic Industry Requirement in Lashify

In Lashify v. ITC, the Federal Circuit held that the economic prong of the domestic industry requirement, which is a precondition for obtaining International Trade Commission Section 337 relief, can be satisfied with investments… more

Appeals, Corporate Counsel, Enforcement Actions, Intellectual Property Protection, Patent Infringement

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Gloves Off: Court Says No to Green Trademark Protection

The U.S. Court of Appeals for the Federal Circuit held that the test for determining whether a word mark is generic also applies to color marks… more

Appeals, CAFC, Color Marks, Generic Marks, Goods or Services

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California Air Resources Board Offers Direction as to Application of California Climate Disclosure Laws

On May 29, 2025, a virtual public workshop held by the California Air Resources Board ("CARB") offered direction on how it interprets certain elements of California's climate disclosure laws. While CARB has a July 1, 2025,… more

California, Cap-and-Trade, CARB, Carbon Emissions, Climate Change

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Final Regulations Clarify the Investment Tax Credit Rules

The U.S. Department of the Treasury and the Internal Revenue Service have issued final regulations for the investment tax credit under section 48, providing guidance for projects that start construction by December 31, 2024… more

Energy Projects, Investment Tax Credits, IRS, Renewable Energy, Tax Credits

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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PTO Promotes Judicial Independence in Final PTAB Rule

On June 12, 2024, the USPTO issued a final rule governing the pre-issuance circulation and review of decisions within the PTAB. This formalized current USPTO procedures within the Standard Operating Procedure (SOP4) adopted on… more

Final Rules, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation

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TSA Releases Proposed Rule to Enhance Pipeline and Railroad Cyber Risk Management

The Transportation Security Administration's ("TSA") proposed rule would require owners and operators of certain pipeline, freight railroad, passenger railroad, rail transit, and over-the-road bus ("OTRB") systems to strengthen… more

Comment Period, Cybersecurity, Infrastructure, Oil & Gas, Pipelines

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HHS Pilot Program to Evaluate 340B Drug Pricing Program Rebate Models

The Health Resources and Services Administration ("HRSA") plans to implement a limited pilot program that will allow approved manufacturers to issue post-purchase rebates for 340B covered outpatient drugs rather than upfront… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Drug Pricing, Health Insurance, Healthcare

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JONES DAY TALKS®: Real Assets Roundup Episode 3: One Big Beautiful Bill (OB3)

The "One Big Beautiful Bill Act" (or OB3), signed into law in July, is overhauling tax policy and investment in real estate, energy and infrastructure. It brings changes to energy tax credits, on-shoring incentives, and real… more

Energy Sector, Infrastructure, Investment, New Legislation, Real Estate Development

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A Review of 2021 Labor & Employment Legislation in California

The 2021 California legislative session saw the passage of a number of new labor and employment laws. Although many relate to the COVID-19 pandemic, the Legislature adopted more nonpandemic-related statutes this term as compared… more

Cal-OSHA, California Family Rights Act (CFRA), Employer Liability Issues, Employment Litigation, Gig Economy

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Biden Administration Proposes Universal EV Charging Standards

On June 9, 2022, the Biden administration released new standards for its goal of building 500,000 electric vehicle ("EV") charging stations nationwide by 2030. The U.S. Departments of Transportation ("DOT") and Energy… more

Automotive Industry, Biden Administration, Charging Stations, Department of Transportation (DOT), Electric Vehicles

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Severed Knowledge: Negative Trade Secrets Through the Lens of Compartmentalized Memory

Since the passage of the Defend Trade Secrets Act ("DTSA") in 2016, courts have increasingly addressed the nuance of negative trade secrets—information about what does not work, often referred to as "negative know-how."… more

Business Litigation, Confidential Information, Damages, Defend Trade Secrets Act (DTSA), Intellectual Property Litigation

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Germany's Legal Privilege: What In-House Counsel Need to Know

The Situation: Germany has no direct equivalent to the U.S. attorney-client privilege, but it offers specific legal protections for in-house counsel in certain proceedings… more

Attorney-Client Privilege, Client Services, Germany, In-House Perspective, Judicial Proceedings

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DOJ Resumes FCPA Enforcement Under New Guidelines Prioritizing the Protection of American Interests

In response to President Trump's February 10, 2025, Executive Order pausing DOJ FCPA enforcement (the "Executive Order"), on June 9, 2025, the DOJ issued new guidelines (the "Guidelines"), which prioritize the enforcement of… more

Anti-Corruption, Bribery, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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A Step Toward the Confidentiality of Legal Advice Issued by French In-House Counsel

On June 8, 2023, as part of the parliamentary debates on the so-called "Justice" bill, the French Senate voted on an amendment to the Law No. 71-1130 dated December 3, 1971, which aims to ensure confidentiality to certain legal… more

Client Services, Confidential Information, France, In-House Perspective, Legal Advice

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Class Action "Greenwashing" Bottled Water Lawsuit Survives Motion to Dismiss in New York Federal Court

On January 10, 2024, a class action lawsuit survived a motion to dismiss a complaint alleging injury due to misleading "carbon neutrality" branding on bottled water. Dorris v. Danone Waters of America, Case No. 22 Civ. 8717… more

Class Action, Environmental Policies, Express Warranty, False Advertising, Federal Trade Commission (FTC)

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New Year, New Illinois Employment Laws

New legislation in Illinois introduces several changes, effective January 1, 2025, that will affect businesses with Illinois employees… more

Anti-Discrimination Policies, Employer Liability Issues, Equal Pay, Human Rights, Illinois

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FTC Imposes Record Fine on Texas Energy Companies for HSR "Gun Jumping"

During antitrust review between M&A signing and closing, HSR rules restrict an acquiror from beginning to control the target's business… more

Acquisition Agreements, Antitrust Provisions, Antitrust Violations, Competition, Enforcement Actions

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Germany's Legal Privilege: What In-House Counsel Need to Know

The Situation: Germany has no direct equivalent to the U.S. attorney-client privilege, but it offers specific legal protections for in-house counsel in certain proceedings… more

Attorney-Client Privilege, Client Services, Germany, In-House Perspective, Judicial Proceedings

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Germany’s "Corporate Sanctions Act": The Path to Corporate Criminal Liability

The Situation: On August 22, 2019, the German Ministry of Justice and Consumer Protection presented the draft Corporate Sanctions Act ("CSA"), a bill that would establish corporate criminal liability in Germany. The… more

Attorney-Client Privilege, Compliance Management Systems, Corporate Counsel, Corporate Crimes, Corporate Investigations

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SEC v. SolarWinds: Court Rejects SEC Authority Over Cybersecurity Controls and Most Alleged Disclosure Violations

The U.S. District Court for the Southern District of New York dismissed the majority of claims that the Security and Exchange Commission ("SEC") asserted against SolarWinds, including claims that the company's alleged… more

Cyber Incident Reporting, Cybersecurity, Data Protection, Disclosure Requirements, Publicly-Traded Companies

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Change Is Coming (Maybe): Reviewing the AIA Reviews and 101 “Clarity”

On April 18, 2018, the Director of the USPTO Andrei Iancu informed the U.S. Senate Judiciary Committee that he aims to propose changes to America Invents Act reviews by this summer 2018. The Director told the Committee that the… more

America Invents Act, Claim Limitations, MPEP, New Guidance, Patent Applications

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New Fast-Track Liquidation Procedures in the Netherlands

The Background: On November 15, 2023, the Temporary Fast-Track Liquidation Transparency Act (Tijdelijke Wet Transparantie Turboliquidatie) (the "Act") came into force in the Netherlands, temporarily changing certain statutory… more

Bankruptcy Code, Commercial Bankruptcy, Disclosure Requirements, Fast Track Process, Legal Entities

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Massachusetts Enacts and Implements New Student Loan Servicing Law

The Massachusetts Student Loan Borrower Bill of Rights The SL Bill of Rights came into effect on July 1, 2021, and the DOB issued its implementing regulations on the same day. Building upon and codifying earlier proposed… more

Banks, Borrowers, Consumer Bill of Rights, Consumer Financial Products, Financial Regulatory Reform

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Stablecoins: Revolutionizing Global Finance?

Following the recent focus on two major regulatory frameworks—the Guiding and Establishing National Innovation for U.S. Stablecoins Act (known as the GENIUS Act) in the United States, and Regulation (EU) 2023/1114 of the… more

Cryptocurrency, Digital Assets, EU, Financial Markets, Financial Regulatory Reform

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Business Restructuring Review | November–December 2021

New York Bankruptcy Court Rules That Good Faith Is Not The Gatekeeper To Chapter 15 - Despite the absence of any explicit directive in the Bankruptcy Code, it is well understood that a debtor must file a chapter 11 petition… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 15, Chapter 7

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President Trump's Executive Order on Unleashing American Energy: Potential Foreign Investors' Claims Against the United States

On January 20, 2025, President Donald Trump issued the Executive Order on Unleashing American Energy, pausing the disbursement of grants and loans under the Inflation Reduction Act ("IRA") and the Infrastructure Investment and… more

Arbitration, Clean Energy, Energy Policy, Executive Orders, Federal Funding

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Illinois Becomes Second State to Pass Broad Legislation on the Use of AI in Employment Decisions

On August 9, 2024, Illinois Governor J.B. Pritzker signed into law H.B. 3773 (the "Act"), making Illinois the second state to pass broad legislation on the use of artificial intelligence ("AI") in employment decisions… more

Artificial Intelligence, Automated Decision Systems (ADS), Bias, Employer Liability Issues, Employment Discrimination

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Global Privacy & Cybersecurity Update Vol. 13

On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions regulated… more

Actual Injuries, Advertising, Argentina, Australia, Banks

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Navigating Insurance for the Los Angeles Wildfires: What You Need to Know

The Los Angeles wildfires, which began on January 7, 2025, have caused widespread devastation, destroying homes, businesses, and communities, while displacing thousands of residents. Insured loss estimates currently exceed $30… more

Business Interruption, California, Insurance Claims, Insurance Litigation, Insurance Regulations

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NDIL Launches Pilot Program to Encourage Individual Self-Disclosure of Organizational Misconduct

The Development: On September 16, 2024, the U.S. Attorney's Office for the Northern District of Illinois ("NDIL") announced its six-month Individual Self-Disclosure Pilot Program for Organizational Misconduct ("Pilot Program"),… more

Corporate Misconduct, Foreign Corrupt Practices Act (FCPA), Non-Prosecution Agreements, Pilot Programs, Reporting Requirements

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CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making

Carbon capture utilization and storage (“CCUS”) refers to technologies that enable carbon dioxide (“CO2”) emissions from industrial sources to be captured and either used in a way that limits or prevents them from being emitted… more

Asia Pacific, Association of Southeast Asian Nations (ASEAN), Carbon Capture and Sequestration, Climate Change, Energy Policy

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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Capital Markets, EU, European Banking Authority (EBA), European Commission

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EPA Finalizes Rules to Regulate Pollution from Fossil Fuel-Fired Power Plants

On April 25, 2024, the Environmental Protection Agency ("EPA") finalized four rules to regulate pollution from fossil fuel-fired power plants. EPA's stated goal was to provide a framework on which power plants can rely for… more

Air Pollution, Clean Air Act, Energy Policy, Environmental Policies, Environmental Protection Agency (EPA)

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Investor Focus on Climate Change Continues to Rise

Climate change has long been an area of focus for investors. Over the past several months, companies have come under greater scrutiny and have begun to face increased pressure from investors, regulators, activists, and the… more

Business Strategies, Capital Investments, Climate Change, Corporate Governance, Corporate Social Responsibility

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2023 Securities Litigation Year in Review

During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings involving… more

Class Certification, Cryptocurrency, False Statements, Fiduciary Duty, Financial Institutions

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European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

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The Climate Report | Third Quarter 2022

REGULATORY ISSUES & UPDATES - European Taxonomy Regulation Extended to Natural Gas and Nuclear Energy - The regulation is likely to create new opportunities for natural gas and nuclear energy in the European Union, though… more

Carbon Emissions, Climate Change, Energy Sector, Environmental Policies, Greenhouse Gas Emissions

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Commercial Fleet Electrification: New Law, Infrastructure, and Vehicles

Electric vehicles have been in the news this quarter, and rightly so. The December 2021 Biden-Harris Electric Vehicle Charging Action Plan accelerates the conversion of internal combustion vehicles to the array of EV drive… more

Automotive Industry, Business Plans, Charging Stations, Electric Vehicles, Environmental Social & Governance (ESG)

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Clarity in Singapore: How COMI Is Determined Under the UNCITRAL Model Law on Cross-Border Insolvency

In re Fullerton Capital Ltd [2025] SGCA 11, a BVI-incorporated company entered into insolvency proceedings in the British Virgin Islands ("BVI"). The liquidators sought recognition of the BVI liquidation as a "foreign main… more

Appeals, British Virgin Islands, COMI, Commercial Bankruptcy, Cross-Border

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Federal Circuit Revives Induced Infringement Claims Despite "Skinny Label" Carve-Out

The Situation: The Hatch-Waxman Act allows generic drug manufacturers to "carve out" a brand's patented indications from their proposed labeling. Generic manufacturers often rely on these so-called "skinny labels" to try to… more

Abbreviated New Drug Application (ANDA), Food and Drug Administration (FDA), Generic Drugs, Hatch-Waxman, Intellectual Property Protection

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Reform of the EU Securitisation Framework—Part 5: Amendments to the Due Diligence and Risk Retention Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Due Diligence, EU, European Commission, Financial Regulatory Reform, Financial Services Industry

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EU Geopolitical Risk Update - Key Policy & Regulatory Developments No. 121

This regular alert covers key policy and regulatory developments related to EU geopolitical risks, including in particular, economic security, Russia’s war against Ukraine, health threats, and cyber threats. It does not purport… more

Competition, Cyber Threats, Cybersecurity, Data Protection, Economic Sanctions

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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EU Omnibus Package Published: CSRD and CS3D to Be Delayed and Scaled Back

The European Union published its long-awaited "Omnibus" package, proposing to delay key European ESG rules, while simultaneously reducing the applicability and burden of corporate sustainability reporting and due diligence… more

Carbon Emissions, Corporate Governance, Corporate Sustainability Reporting Directive (CSRD), Disclosure Requirements, Due Diligence

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European Union Adopts Strategy to Develop Carbon Capture and Storage Technologies

The European Commission ("Commission") adopted an Industrial Carbon Management Communication ("Communication") on 6 February 2024, outlining the Commission's ambitions for a strategy to boost the deployment of technologies in… more

Carbon Capture and Sequestration, Carbon Emissions, Climate Change, Environmental Policies, EU

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JONES DAY TALKS®: Real Assets Roundup Episode 3: One Big Beautiful Bill (OB3)

The "One Big Beautiful Bill Act" (or OB3), signed into law in July, is overhauling tax policy and investment in real estate, energy and infrastructure. It brings changes to energy tax credits, on-shoring incentives, and real… more

Energy Sector, Infrastructure, Investment, New Legislation, Real Estate Development

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Immigration Enforcement Directives Create New Hurdles for Hospitals Advancing Standard Patient Care

While hospitals will no longer be formally considered sensitive locations under new immigration directives, health care facilities and providers maintain responsibility to protect access to patient care and confidentiality… more

Data Privacy, Department of Homeland Security (DHS), EMTALA, Enforcement Actions, Health Care Providers

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China Unveils New Anti-Monopoly Guidelines for the Pharmaceutical Sector

China's State Council issued new Anti-Monopoly Guidelines for the Pharmaceutical Sector (the "Guidelines") effective January 24, 2025. The Guidelines provide a comprehensive framework for the State Administration for Market… more

Acquisition Agreements, Anti-Monopoly, Antitrust Provisions, China, Competition

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JONES DAY TALKS®: Real Assets Roundup Episode 2: A First Look at Data Centers: The Fourth Utility

Digital infrastructure assets provide and support communications and networking, data transfer and storage, and online services. They enable internet access, cloud computing, and emerging technologies including AI. Digital… more

Cloud Computing, Data Centers, Data Storage, Data Transfers, Digital Assets

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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U.S. Supreme Court Ends Heightened Evidentiary Hurdle for "Majority Group" Plaintiffs in Title VII Discrimination Cases

On June 5, 2025, the Supreme Court decided Ames v. Ohio Department of Youth Services and held that a "majority group" plaintiff in a Title VII case need not satisfy a heightened evidentiary burden to establish a prima-facie case… more

Ames v Ohio Department of Youth Services, Disparate Treatment, Employment Discrimination, Employment Litigation, Evidentiary Standards

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Australian Government Announces Procedural Reforms to Strengthen and Streamline Australia's Foreign Investment Policy

The Situation: The Australian government has restated its commitment to foreign investment and announced procedural reforms to Australia's foreign investment framework. The government aims to attract the significant foreign… more

Australia, Australian Competition and Consumer Commission (ACCC), FIRB, Foreign Investment, Merger Controls

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Data Centres: One of the Winners as the English Planning System Adapts

Since coming into power in July 2024, the UK government has made several planning policy decisions with the aim of facilitating data centre development… more

Data Centers, Energy Policy, Government Agencies, Infrastructure, Real Estate Development

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Real Insight - Issue 1 2025

INTRODUCTION - Welcome to the first edition of Real Insight, our new UK real estate update. Among the subjects covered in this edition are the emerging success of data centres in the planning system, continuation funds, the… more

Commercial Leases, Construction Industry, Construction Project, Data Centers, Easements

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Massachusetts’ Highest Court Narrows In Pari Delicto Defense

The Situation: In Merrimack College v. KPMG LLP, a college sued its independent auditor for the auditor's failure to report fraud by the college's financial aid director. The Result: The Massachusetts Supreme Judicial Court… more

Auditors, Breach of Duty, Consultants, Corporate Officers, In Pari Delicto

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Clarity in Singapore: How COMI Is Determined Under the UNCITRAL Model Law on Cross-Border Insolvency

In re Fullerton Capital Ltd [2025] SGCA 11, a BVI-incorporated company entered into insolvency proceedings in the British Virgin Islands ("BVI"). The liquidators sought recognition of the BVI liquidation as a "foreign main… more

Appeals, British Virgin Islands, COMI, Commercial Bankruptcy, Cross-Border

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Bill Seeks to Restrict 30-Month Stay in Hatch-Waxman Litigation to One Patent

Senate Bill S. 4878 seeks to force innovator pharmaceutical companies to select a single Orange Book listed patent for the 30-month stay… more

Abbreviated New Drug Application (ANDA), FDA Approval, Generic Drugs, Hatch-Waxman, Healthcare

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New EPA Positions Reflected in Sweeping Rollback of Greenhouse Gas Regulation

The Environmental Protection Agency ("EPA") proposed a rule that would rescind the 2009 Endangerment Finding, citing a new interpretation of the relevant section in the Clean Air Act ("CAA"), a lack of clear congressional intent… more

Administrative Procedure Act, Clean Air Act, Climate Change, Constitutional Challenges, Endangerment Finding

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Australian Treasury Reports Faster Foreign Investment Application Processing Amidst Increased Focus on Compliance and Enforcement

The Australian Treasury, which administers Australia's foreign investment framework, has released its first quarterly report for the 2024-25 financial year. Here are some key statistics and trends from the report. Treasury… more

Compliance, Enforcement Actions, Financial Regulatory Reform, Foreign Investment, Investment

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FinCEN Clarifies Application of Beneficial Ownership Reporting Rules to Dissolved Entities

Reporting companies should take note of a recent clarification by the Financial Crimes Enforcement Network ("FinCEN") that the Beneficial Ownership Information ("BOI") Rule requires reporting companies that exist on or after… more

Beneficial Owner, Dissolution, Filing Deadlines, Financial Crimes, Financial Regulatory Reform

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NIH Seeks Comments on Patient Access Plan Requirements in Patent License Agreements

The Situation: The National Institutes of Health ("NIH") proposed a new policy requiring entities that receive licenses from the NIH to certain taxpayer-funded inventions to submit Access Plans for ensuring broader patient… more

Healthcare, Intellectual Property Protection, Inventions, License Agreements, National Institute of Health (NIH)

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Stablecoins: Revolutionizing Global Finance?

Following the recent focus on two major regulatory frameworks—the Guiding and Establishing National Innovation for U.S. Stablecoins Act (known as the GENIUS Act) in the United States, and Regulation (EU) 2023/1114 of the… more

Cryptocurrency, Digital Assets, EU, Financial Markets, Financial Regulatory Reform

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No Genuine Issue of Fact Where Petitioner’s Claim Construction Is Wrong

The PTAB’s recent decision denying rehearing in United Microelectronics Corp. v. Lone Star Silicon Innovations LLC, IPR2017-01513, Paper 10 (PTAB May 22, 2018) sheds light on the Board’s practice under 37 C.F.R. 42.108(c), which… more

Administrative Procedure Act, Claim Construction, Discovery, Evidence, Expert Testimony

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CRISPR Technology in the Agricultural Industry: Patent and Regulatory Updates

The ability to edit eukaryotic DNA entails an almost limitless ability to alter the genetic makeup of the plants that become our food. Recently, scientific attention has been directed to applying a class of new gene-editing… more

CRISPR, GMO, Patent Applications, Patents

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California Supreme Court: CGL Policies Permit "Vertical Exhaustion" for Long-tail Continuous Injuries

In a recent decision, the California Supreme Court reaffirmed a policyholder's right to reach excess liability coverage by providing key guidance as to the proper exhaustion method for continuous injury claims spanning multiple… more

CA Supreme Court, Commercial General Liability Policies, Continuous Injury, Denial of Insurance Coverage, Insurance Claims

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NIST Updates Its Privacy Framework to Address AI

The National Institute of Standards and Technology ("NIST") recently updated its 2020 Privacy Framework 1.0 to include artificial intelligence ("AI") risk management… more

Artificial Intelligence, Data Privacy, Innovative Technology, Machine Learning, NIST

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Trial Date Drives PTAB’s Denial of IPR Institution

On April 16, 2025, the Patent Trial and Appeal Board (PTAB) denied institution of inter partes review (IPR) for several claims of U.S. Patent No. 7,187,307, owned by Universal Connectivity Technologies, Inc. HP Inc., Dell… more

Administrative Procedure Act, Appeals, Computer-Related Inventions, Dell, Denial of Institution

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Will the U.S/EU Trade Deal lead to additional changes in European ESG legislation?

As a follow-up to the political agreement reached between U.S. President Donald Trump and EU Commission President Ursula von der Leyen regarding cross-Atlantic trade on July 27th, 2025, the United States and the EU issued a… more

Climate Change, Corporate Sustainability Reporting Directive (CSRD), Due Diligence, Environmental Social & Governance (ESG), EU

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JONES DAY PRESENTS®: The Mechanics of Multidistrict Litigation: Streamlining Complex Cases

Increasingly, to try cases that involve multiple plaintiffs across various jurisdictions more efficiently, a judicial panel will create a multidistrict litigation (MDL). Jones Day partners Bridget O'Connor and Billy Laxton… more

Discovery, Jurisdiction, Multidistrict Litigation

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French Supreme Court Sets New Boundary to Liability Toward Third Parties

The Situation: The French Supreme Court recently considered whether a limitation of liability clause could be enforced against a third party to a contract claiming compensation for a breach of contract that caused it damage… more

Breach of Contract, Business Litigation, Contract Disputes, Contract Terms, EU

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Florida Supreme Court Adopts Federal Summary Judgment Standard

The Situation: The Florida Supreme Court considered whether and how to amend Florida's summary judgment rule to comport with the federal summary judgment standard, which is easier to satisfy. The Result: The Florida Supreme… more

Evidence, Federal Rules of Civil Procedure, FL Supreme Court, FRCP 56, Summary Judgment

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JONES DAY PRESENTS®: EU Mandatory Disclosure Rules (DAC 6)

DAC6, the European Union's new disclosure regime, imposes the reporting of cross-border tax arrangements for multinational enterprises in 28 European countries. Jones Day partners Florian Lechner (Frankfurt) and Carlos Albiñana… more

Cross-Border Transactions, DAC6, Disclosure Requirements, EU, Member State

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German Profit and Loss Transfer Agreements Face Deadline to Protect Consolidated Tax Treatments

Existing contracts must be amended no later than December 31, 2019. Parties to certain older German profit and loss transfer agreements ("PLTA"), take note. According to the German Federal Ministry of Finance's ("BMF") April… more

Corporate Taxes, Germany, International Tax Issues, Limited Liability Company (LLC), Lost Profits

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FCPA 2023 Year in Review

Foreign Corrupt Practices Act (“FCPA”) enforcement continues to slowly rebound from pre-pandemic levels. In 2023, the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) resolved 13 corporate FCPA… more

Anti-Bribery, Anti-Corruption, Corruption, Criminal Penalties, Department of Justice (DOJ)

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Australia Passes Landmark Scam Prevention Legislation

On 13 February 2025, the Australian Federal Parliament passed the Scams Prevention Bill 2025 (Cth) ("Bill"), the first of its kind worldwide… more

Australia, Banks, Cybersecurity, Data Privacy, Financial Institutions

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ESMA Clarifies Position on Documents Incorporated by Reference in Prospectuses

Following up on its earlier clarification around future incorporation by reference under Regulation (EU) 2017/1129 (the "Prospectus Regulation"), the European Securities and Markets Authority ("ESMA") published its final report… more

Capital Markets, Disclosure Requirements, EU, European Securities and Markets Authority (ESMA), Green Bonds

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Financing of Australian Class Actions—Solicitors Common Fund Order Disallowed

Australia's highest court has ruled on the question of whether lawyers in New South Wales ("NSW") can charge contingency fees in class action litigation in the Federal Court of Australia (otherwise known as a solicitors' common… more

Australia, Class Action, Client Services, Contingency Fees, Jurisdiction

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White House Opens Door to Broader Inclusion of Alternative Assets in Defined Contribution Retirement Plans

A hotly anticipated August 7, 2025, executive order, "Democratizing Access to Alternative Assets for 401(k) Investors" ("EO"), aims to reduce regulatory barriers and significantly expand access to "alternative assets"—including… more

401k, Compensation & Benefits, Defined Contribution Plans, Department of Labor (DOL), Digital Assets

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France Adopts a New Decree Reinforcing the Effectiveness of the French Blocking Statute

Pursuant to Decree No. 2022-207 dated February 18, 2022, companies receiving discovery demands or requests for information from foreign authorities now must turn to the Strategic Information and Economic Security Department… more

Blocking Statutes, Discovery, Document Requests, EU, Foreign Entities

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DOJ Criminal Division Announces Priority Enforcement Areas and Publishes Revised Enforcement Guidance

On May 12, 2025, the Department of Justice Criminal Division announced significant changes to its corporate white-collar criminal enforcement priorities. In line with the Trump administration’s recalibration toward prioritizing… more

Corporate Governance, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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The Year in Bankruptcy: 2024

The first full year of the post-COVID-pandemic era was characterized in the United States by continued economic recovery, persistently high consumer interest rates—despite three cuts in the benchmark federal funds rate in 2024,… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 15, Commercial Bankruptcy

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New Export Control Rule Regulates Global Diffusion of Artificial Intelligence

The U.S. Commerce Department's Bureau of Industry and Security ("BIS") issued a rule establishing a framework to prevent U.S. adversaries from accessing the most advanced artificial intelligence ("AI") systems while preserving… more

Artificial Intelligence, Bureau of Industry and Security (BIS), Cybersecurity, Export Controls, Innovative Technology

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Bank Merger and Acquisition Policy Changes: The Opportunity Is Now

Banking agencies and the DOJ have signaled an openness to bank M&A where the combined institutions will enhance competition, customer benefits, technological innovation, and enterprise risk management… more

Acquisition Agreements, Antitrust Provisions, Banks, Department of Justice (DOJ), Federal Reserve

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Hong Kong Modifies Listing Rules of Specialist Technology Companies and De-SPAC Transactions

The Stock Exchange of Hong Kong Limited ("HKEx") and the Securities and Futures Commission ("SFC") have announced temporary changes to the Hong Kong Listing Rules regarding the minimum initial market capitalization of specialist… more

Capital Markets, Hong Kong, Hong Kong Securities and Futures Commission (HKSFC), Investment, Investors

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Much-Anticipated Tax Reporting Regulations on Digital Asset Transactions Issued

Proposed regulations addressing new tax reporting requirements for cryptocurrencies and other digital assets have been issued by the IRS and Treasury… more

Digital Assets, IRS, Proposed Regulation, Reporting Requirements, U.S. Treasury

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Navigating Insurance for the Los Angeles Wildfires: What You Need to Know

The Los Angeles wildfires, which began on January 7, 2025, have caused widespread devastation, destroying homes, businesses, and communities, while displacing thousands of residents. Insured loss estimates currently exceed $30… more

Business Interruption, California, Insurance Claims, Insurance Litigation, Insurance Regulations

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Board Leadership in Navigating Volatility

Public company boards are facing an unprecedented convergence of destabilizing forces, including geopolitical shocks, inflation, supply-chain disruptions, social unrest, and rapid technological change. At the same time,… more

Board of Directors, Corporate Culture, Corporate Governance, Fiduciary Duty, Market Volatility

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Could the SEC's Enforcement Spotlight Return to Executive Perks?

The Securities and Exchange Commission ("SEC") is hosting a roundtable discussion on disclosures just weeks after reports of significant increases in executive perks… more

Compensation & Benefits, Corporate Governance, Disclosure Requirements, Executive Compensation, Regulatory Agenda

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Board Leadership in Navigating Volatility

Public company boards are facing an unprecedented convergence of destabilizing forces, including geopolitical shocks, inflation, supply-chain disruptions, social unrest, and rapid technological change. At the same time,… more

Board of Directors, Corporate Culture, Corporate Governance, Fiduciary Duty, Market Volatility

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Non-German Real Estate Funds (and Trusts) as Eligible Investments for German Real Estate Funds

The Situation: Due to strict investment rules governing German open-ended real estate funds, questions remained regarding whether those funds could indirectly invest in non-German real estate, via structures or vehicles… more

Financial Services Industry, Germany, Investment Funds, Pension Funds, Private Equity Funds

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CFTC Operating and Enforcement Divisions Issue Advisory on Referrals to Enforcement Division

On April 17, 2025, the Commodity Futures Trading Commission's ("CFTC") operating divisions ("Divisions") provided guidance in an advisory on the criteria they will use when determining whether to refer self-reported violations,… more

CFTC, Commodities, Enforcement Actions, Financial Services Industry, Fraud

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Unified Patent Court: First Ruling on Equivalent Infringement

The doctrine of equivalents is a staple patent law principle, addressing the tension between providing fair protection to innovative ideas and ensuring legal certainty for third parties. However, like most patent laws, the… more

Appeals, Corporate Counsel, Doctrine of Equivalents, EU, European Patent Convention

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Two U.S. Courts Address Fair Use in Generative AI Training Cases

Federal courts continue to address whether training artificial intelligence ("AI") models on copyrighted materials without a license constitutes copyright infringement… more

Algorithms, Artificial Intelligence, Books, Copyright, Copyright Infringement

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Motion to Amend: Much to Admire?

Motions to amend (MTA) are becoming a more frequently used tool for patent owners litigating before the Patent Trial and Appeal Board (PTAB). When a patent is being challenged in an inter partes review (IPR) or post-grant… more

Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Motion to Amend, Patent Infringement, Patent Litigation

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Declarations as New Evidence to Overcome § 325(d)

We have published other blog postings relating to 35 U.S.C. §325(d), including a blog posting that addresses the PTAB’s October 24, 2017 notice designating three of its decisions as informative (here). Recently, the PTAB… more

Inter Partes Review (IPR) Proceeding, Patent Ownership, Patent Prosecution, Patents, Pharmaceutical Patents

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Mexico's Judicial Reform and AMLO Party's Bills Call for Caution and Business Risk Assessment

The Details - This reform will modify the judiciary by providing for the democratic election of all judges in Mexico, including judges on the Supreme Court of Mexico and those serving on other state and federal tribunals. The… more

Constitutional Amendment, Foreign Investment, Judges, Judicial Appointments, Judicial Reform

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CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making

Carbon capture utilization and storage (“CCUS”) refers to technologies that enable carbon dioxide (“CO2”) emissions from industrial sources to be captured and either used in a way that limits or prevents them from being emitted… more

Asia Pacific, Association of Southeast Asian Nations (ASEAN), Carbon Capture and Sequestration, Climate Change, Energy Policy

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Pay Now, Argue Later—Even if the Contractor is Going Bust: The NSW Security of Payment Regime and Distressed Contractors

In Short - The Situation: Security of payment ("SOP") legislation across Australia provides a "pay now, argue later" regime for payment claims by contractors in the construction industry. The legislation expressly provides… more

Australia, Construction Contracts, Construction Industry, Contractors, Security of Payment Act

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Stablecoins: Revolutionizing Global Finance?

Following the recent focus on two major regulatory frameworks—the Guiding and Establishing National Innovation for U.S. Stablecoins Act (known as the GENIUS Act) in the United States, and Regulation (EU) 2023/1114 of the… more

Cryptocurrency, Digital Assets, EU, Financial Markets, Financial Regulatory Reform

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Taiwan Imposes New Reporting Obligation on Information of Company Shareholders

The Situation: On November 1, 2018, amendments to the Taiwan Company Act ("TCA") passed by the Taiwanese legislature on July 6, 2018 came into effect. The Result: While certain regulations have been relaxed and business… more

Board of Directors, Corporate Governance, Directors, Foreign Corporations, Regulatory Standards

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APAC ESG Update | Spring Quarter 2024

This White Paper focuses on ESG developments through the Asia-Pacific (“APAC”) region since the start of 2024. For businesses present in the APAC region, as well as doing business there, it is imperative to be vigilant of the… more

Asia Pacific, Climate Action Plan, Climate Change, Environmental Protection Agency (EPA), Environmental Social & Governance (ESG)

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Innovative Insights: Legal Updates in Life Sciences | First Quarter 2025

Artificial intelligence is revolutionizing life science R&D (particularly in the realm of drug discovery) and challenging the traditional "human inventorship" requirement for U.S. patents. Recent guidance from the USPTO… more

Artificial Intelligence, Drug Pricing, Earn-Outs, Federal Funding, Foreign Aid

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Institution Denied Based on Parallel Proceeding and Prior Denial

On December 6, 2024, Comcast Cable Communications, LLC (“Comcast”) filed three separate petitions for inter partes review (“IPR”) of U.S. Patent No. 9,866,438 (“the ’438 Patent”), which is assigned to Entropic Communications,… more

Comcast, Cox Communications, Denial of Institution, Inter Partes Review (IPR) Proceeding, Parallel Proceedings

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President Trump Pauses DOJ FCPA Enforcement and Orders Preparation of New Enforcement Guidelines

On February 10, 2025, President Donald J. Trump signed an Executive Order pausing enforcement of the Foreign Corrupt Practices Act ("FCPA") by the U.S. Department of Justice ("DOJ") for 180 days and ordering Attorney General Pam… more

Anti-Corruption, Attorney General, Department of Justice (DOJ), Enforcement Actions, Executive Orders

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U.S. Supreme Court Encourages Federal Rule 7(a)(7) Replies—A Potential Boon for Defendants

The U.S. Supreme Court recently reminded district courts that they may use Federal Rule of Civil Procedure 7(a)(7)—a little-known rule—to screen out meritless complaints before discovery… more

Counterclaims, Defense Strategies, Discovery, Dismissals, Federal Rules of Civil Procedure

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Error! PTAB Denies Motion for Supplemental Information to Correct Inadvertent Omission

In Nanobebe US Inc. v. Mayborn (UK) Limited et al., the PTAB denied a Petitioner’s Motion to submit supplemental information, even though Petitioner argued the information had been inadvertently omitted in the original petition… more

Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation, Patent Ownership

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Playing by New Rules: Ten Considerations for Universities Implementing NIL Policies

On July 1, 2021, the NCAA's interim policy on NIL activities took effect, opening the door for student-athletes at universities across the country to earn income from endorsements, personal appearances, camps and clinics, and a… more

Colleges, Compensation, Name and Likeness, NCAA, Right of Publicity

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Delaware Court Rejects Application of D&O Policy's "Bump-Up" Exclusion to Securities Claim Settlement

In a significant victory for policyholders, the Delaware Superior Court rejected three insurers' attempts to apply their Directors and Officers Liability ("D&O") policies' so-called "bump-up" exclusion to bar coverage for… more

Acquisition Agreements, Commercial Insurance Policies, Contract Terms, Corporate Governance, D&O Insurance

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Employee Stock Plans: International Reporting Requirements (UPDATED)

This White Paper highlights some of the principal annual or quarterly reporting requirements for employee stock plans that multinational companies most commonly encounter when offering these programs to their employees in… more

Compensation & Benefits, Employee Benefits, Employee Stock Purchase Plans, Multinationals, Regulatory Requirements

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CJEU Ruling on Asymmetric Jurisdiction Clause Validity—Towards (un)Certainty?

The Court of Justice of the European Union ("CJEU") recently issued an important ruling in the case of Società Italiana Lastre SpA (SIL) v. Agora SARL (C-537/23). The decision addresses the validity criteria of asymmetric… more

Business Litigation, Choice-of-Law, Commercial Litigation, Contract Disputes, Contract Terms

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Questions Remain as Supreme Court Restricts § 1782 Discovery in Private International Arbitrations

In Short - The Situation: Section 1782 of Title 28 of the U.S. Code authorizes U.S. district courts to order discovery "for use in a proceeding in a foreign or international tribunal." Over the last several years, U.S… more

28 U.S.C. § 1782, Arbitration, Discovery, Foreign Tribunals, International Arbitration

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The One Big Beautiful Bill Becomes Law: Key Real Estate Tax Changes

Signed into law on July 4, 2025, the One Big Beautiful Bill Act (the "Act") permanently extends and modifies several cornerstone provisions of the Tax Cuts and Jobs Act of 2017, restores key business incentives, and makes… more

Business Taxes, EBITDA, Federal Budget, Internal Revenue Code (IRC), Investment Opportunities

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The Climate Report | First Quarter 2023

Incoming: Mandatory Climate Risk Disclosures in Australia - The Climate-Related Financial Disclosure Consultation Paper proposes that, commencing with the 2024/2025 financial year, large, listed entities and large financial… more

Carbon Capture and Sequestration, Carbon Emissions, Climate Change, Coal Mines, FERC

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Supreme Court Denies Cellect Petition on Interplay Between PTA and ODP

The Supreme Court denies Cellect LLC's petition for certiorari to consider whether patent term adjustment ("PTA") should be included in patent term for obviousness-type double patenting ("ODP") purposes… more

Denial of Certiorari, Double Patent, Obviousness, Obviousness-Type Double Patenting (ODP), Patent Applications

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Temporary Post-Brexit Regime Applies to UK Financial Institutions Operating in Italy

In Short  The Situation: As of the close of the Brexit transition period ending on December 31, 2020 ("Withdrawal Date"), UK banks, UK investment firms, and UK electronic money institutions ("UK Financial Institutions") can no… more

EU, Financial Institutions, Financial Markets, Italy, Member State

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DOJ Resumes FCPA Enforcement Under New Guidelines Prioritizing the Protection of American Interests

In response to President Trump's February 10, 2025, Executive Order pausing DOJ FCPA enforcement (the "Executive Order"), on June 9, 2025, the DOJ issued new guidelines (the "Guidelines"), which prioritize the enforcement of… more

Anti-Corruption, Bribery, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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SEC Signals It Will Abandon Defense of Climate Disclosure Rule

Acting Securities and Exchange Commission ("SEC" or the "Commission") Chairman Mark Uyeda directed SEC staff to request that the Eighth Circuit Court of Appeals not schedule an oral argument in the pending litigation surrounding… more

Climate Change, Disclosure Requirements, Environmental Policies, Environmental Social & Governance (ESG), Greenhouse Gas Emissions

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The Climate Report | Fourth Quarter 2022

California Enacts Sweeping Climate Measures - On September 16, 2022, California Governor Gavin Newsom signed a broad legislative package into law that aims to aggressively address climate change. The material aspects of each… more

Climate Change, Electricity, Energy Sector, Natural Gas, Nuclear Power

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EU Adopts Enhanced Legal Framework to Provide for High Common Level of Cybersecurity

The Council of the European Union ("EU") adopted a new Directive to strengthen cybersecurity and resilience across the Union. - Following the European Parliament's approval on November 10, 2022, the Council of the European… more

Cybersecurity, Data Protection, EU, Reporting Requirements, Risk Management

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U.S. Merger Notification Threshold Increases to $119.5 Million

Annual increases in U.S. merger notification thresholds and substantially increased filing fees take effect on March 6, 2024. The Federal Trade Commission ("FTC") announced that the Hart-Scott-Rodino ("HSR") Act filing… more

Civil Monetary Penalty, Federal Trade Commission (FTC), Filing Fees, Hart-Scott-Rodino Act, Interlocking Directorate

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CMS Updates Kidney Care Choices Model

The Center for Medicare and Medicaid Innovation ("CMMI") announced sweeping changes to the Kidney Care Choices Model ("KCC Model"), a key set of value-based programs… more

Centers for Medicare & Medicaid Services (CMS), CMMI, Health Care Providers, Health Insurance, Healthcare

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U.S. Supreme Court Instructs Courts to Provide "Substantial Deference" to Agencies in NEPA Cases

On May 29, 2025, the U.S. Supreme Court decided Seven County Infrastructure Coalition v. Eagle County, clarifying the standards for judicial review of challenges to agency action under the National Environmental Policy Act… more

Administrative Procedure Act, Environmental Impact Statements, Environmental Litigation, Environmental Policies, Infrastructure

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Georgia Limits Liability for Pesticide Manufacturers

This week, Georgia's governor signed a new pesticide labeling and liability act (SB 144) ("Act"), amending state law to limit the scope of pesticide manufacturer liability for failure to warn and aligning the state standards… more

Agribusiness, Environmental Policies, Environmental Protection Agency (EPA), Failure To Warn, FIFRA

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DOJ Updates Corporate Compliance Program Guidance and Announces New Policy Initiatives and Enforcement Resources

In Short - The Situation: As a follow-up to the deputy attorney general's September 2022 memorandum, the U.S. Department of Justice ("DOJ" or "Department") announced in March 2023 significant updates to its corporate… more

Compliance, Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ)

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FTC Proposes to Impose Sweeping Restrictions on Tech Company's Ability to Profit From Youth Data

On May 3, 2023, the Federal Trade Commission ("FTC") issued an Order to Show Cause against Meta for alleged violations of Meta's 2012 and 2020 privacy orders and seeks to bar the company from monetizing data related to… more

Data Collection, Data Privacy, Data Protection, Data Security, Federal Trade Commission (FTC)

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PTAB Denies Parallel IPR Petition

The PTAB recently denied Intel’s (Petitioner) parallel IPR petition (IPR2023-01140) against AX Wireless (Patent Owner) challenging certain claims of U.S. Pat. No. 10,917,272. The denial came after Intel filed a separate petition… more

Intel, Intellectual Property Litigation, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement

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Australian Corporate Conduct Regulator Releases Guidance on Greenwashing Risks

In Short - The Situation: The Australian Securities and Investments Commission ("ASIC") has released guidance to superannuation and managed funds as to how to avoid the risk of greenwashing when promoting… more

ASIC, Australia, Australian Competition and Consumer Commission (ACCC), Greenwashing, IOSCO

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It's Time for a Fresh Look at DEI Metrics in Executive Compensation

The Background: It is estimated that over 84 percent of companies in the S&P 1500 use some form of "social" metric when determining their executives' incentive compensation. Many of these social metrics set forth diversity,… more

Anti-Discrimination Policies, Civil Rights Act, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG), Equal Protection

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Florida Governor Signs Sweeping Tort Reform Bill Into Law

On March 24, 2023, Florida Governor Ron DeSantis signed into law HB 837/SB 236, which is now in effect and will significantly impact tort cases… more

Governor DeSantis, Insurance Claims, Insurance Industry, Property Insurance, Tort Reform

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No Search Warrant Required for Records of Bitcoin Transactions, the Fifth Circuit Holds

The Situation: While investigating a website for criminal activities, federal agents traced Bitcoin transactions and issued a subpoena to a virtual-currency exchange to identify customers of the site. Using that information, the… more

Bitcoin, Blockchain, Carpenter v US, Criminal Investigations, Cryptocurrency

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Questions Remain as Supreme Court Restricts § 1782 Discovery in Private International Arbitrations

In Short - The Situation: Section 1782 of Title 28 of the U.S. Code authorizes U.S. district courts to order discovery "for use in a proceeding in a foreign or international tribunal." Over the last several years, U.S… more

28 U.S.C. § 1782, Arbitration, Discovery, Foreign Tribunals, International Arbitration

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SEC Adopts Final Dodd-Frank Act Clawback Rules: An A-to-Z Explanation

As required by the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010, on October 26, 2022, the Securities and Exchange Commission adopted final rules directing the national securities exchanges and national… more

Clawbacks, Disclosure Requirements, Dodd-Frank, Final Rules, Incentive Compensation

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The Changing Landscape for Business Disputes in Texas: Justices Named to Inaugural Business Dispute Appellate Court

On June 11, 2024, Governor Greg Abbott appointed the three inaugural justices for the new Fifteenth Court of Appeals, which will hear appeals from business courts statewide… more

Appeals, Appellate Courts, Appellate Rules, Business Disputes, Business Litigation

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Hong Kong Modifies Listing Rules of Specialist Technology Companies and De-SPAC Transactions

The Stock Exchange of Hong Kong Limited ("HKEx") and the Securities and Futures Commission ("SFC") have announced temporary changes to the Hong Kong Listing Rules regarding the minimum initial market capitalization of specialist… more

Capital Markets, Hong Kong, Hong Kong Securities and Futures Commission (HKSFC), Investment, Investors

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Dutch Limited Partnerships Attractive Alternative to Luxembourg and Irish Fund Structuring

Proposed changes to Dutch tax law will make Dutch limited partnerships attractive private equity and venture capital fund and feeder fund alternatives to Irish and Luxembourg equivalents. A Dutch limited partnership… more

Business Entities, Business Taxes, Corporate Taxes, International Tax Issues, Limited Partnership Agreements

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Mitigating Risk From the Designation of Cartels as FTOs and SDGTs

The Situation: After President Trump issued an Executive Order ("EO") that creates a process to designate international cartels and other organizations as "Foreign Terrorist Organizations" ("FTOs") or "Specially Designated… more

Anti-Money Laundering, Cartels, Department of Justice (DOJ), Economic Sanctions, Enforcement Actions

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Failure-to-Prevent-Fraud Offense: UK Government Publishes Guidance on Required Policies

The UK Government has published much-anticipated guidance (the "Guidance­") on the new corporate offense of failure to prevent fraud (introduced under the Economic Crime and Corporate Transparency Act 2023 ("ECCTA")), which is… more

Corporate Governance, Extraterritoriality Rules, Failure to Prevent, Fraud, Serious Fraud Office (SFO)

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REPowerEU: A New Energy Landscape for Europe

In March 2022, the European Commission published "REPowerEU," a blueprint of its planned changes to the regulation of European Union energy markets in direct response to the Russian invasion of Ukraine in February 2022. At its… more

Energy Sector, EU, Liquid Natural Gas, Natural Gas, Oil & Gas

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Institution Denied Based on Parallel Proceeding and Prior Denial

On December 6, 2024, Comcast Cable Communications, LLC (“Comcast”) filed three separate petitions for inter partes review (“IPR”) of U.S. Patent No. 9,866,438 (“the ’438 Patent”), which is assigned to Entropic Communications,… more

Comcast, Cox Communications, Denial of Institution, Inter Partes Review (IPR) Proceeding, Parallel Proceedings

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Drop a Dime, Get a Dollar: DOJ's Antitrust Division and U.S. Postal Service Unveil Whistleblower Program

On July 8, 2025, the Department of Justice ("DOJ") and the U.S. Postal Service ("USPS") announced a Whistleblower Rewards Program that will provide financial incentives to individuals who report antitrust crimes and related… more

Antitrust Provisions, Antitrust Violations, Competition, Criminal Convictions, Department of Justice (DOJ)

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Global Merger Control Update | Fall 2022

This Jones Day Global Merger Control Update highlights significant recent developments and changes in merger control regimes. In this Update, we review: (i) key changes to merger regimes in Austria, Belgium, Bulgaria, Cambodia,… more

Acquisitions, Anti-Monopoly, Antitrust Provisions, Competition, Competition Authorities

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NYDFS Expands Cybersecurity Regulations: Extortion Payment Reporting, Corporate Governance, and Technical Requirements

A major amendment to the New York State Department of Financial Services' cybersecurity regulations establishes affirmative cybersecurity oversight duties and requires companies to report extortion payments to the agency… more

Chief Information Security Officer (CISO), Cybersecurity, Cybersecurity Framework, Data Protection, Extortion

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DOJ Resumes FCPA Enforcement Under New Guidelines Prioritizing the Protection of American Interests

In response to President Trump's February 10, 2025, Executive Order pausing DOJ FCPA enforcement (the "Executive Order"), on June 9, 2025, the DOJ issued new guidelines (the "Guidelines"), which prioritize the enforcement of… more

Anti-Corruption, Bribery, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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The UK’s Digital Services Tax: Where Are We Now?

Current Status: The UK Government is moving ahead with its implementation of the Digital Services Tax ("DST") despite concerns raised by the United States and the Organisation of Economic Co-operation and Development ("OECD")… more

Corporate Taxes, Digital Services Tax, Double Taxation, Financial Statements, HMRC

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D.C. District Court Vacates 60-Day Medicare Advantage Overpayment Rule

The Situation: In 2016, several Medicare Advantage ("MA") organizations challenged a 2014 final rule promulgated by the Center for Medicare Services ("CMS") that broadly subjected MA organizations to potential liability under… more

Administrative Procedure Act, Affordable Care Act, Appeals, Centers for Medicare & Medicaid Services (CMS), False Claims Act (FCA)

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New York's Recipe for Food Marketing: Next Course of Restrictive State Actions?

A New York Senate bill seeks to amend multiple state laws impacting food and beverage advertising to expand the scope of factors to be considered in determining whether an advertisement is false or misleading… more

Beverage Manufacturers, False Advertising, Food Labeling, Food Manufacturers, Food Marketing

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California Air Resources Board Offers Direction as to Application of California Climate Disclosure Laws

On May 29, 2025, a virtual public workshop held by the California Air Resources Board ("CARB") offered direction on how it interprets certain elements of California's climate disclosure laws. While CARB has a July 1, 2025,… more

California, Cap-and-Trade, CARB, Carbon Emissions, Climate Change

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Third Party IPRs Sway District Court’s Prevailing Party and Costs Rulings

Third-party IPRs can moot previously favorable decisions and leave a previously successful party to bear its own costs. On October 16, 2024, Judge Rodney Gilstrap denied the plaintiff’s Motion to be Confirmed as the Prevailing… more

Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Litigation Fees & Costs, Patent Infringement, Patent Litigation

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U.S. Supreme Court Ends Heightened Evidentiary Hurdle for "Majority Group" Plaintiffs in Title VII Discrimination Cases

On June 5, 2025, the Supreme Court decided Ames v. Ohio Department of Youth Services and held that a "majority group" plaintiff in a Title VII case need not satisfy a heightened evidentiary burden to establish a prima-facie case… more

Ames v Ohio Department of Youth Services, Disparate Treatment, Employment Discrimination, Employment Litigation, Evidentiary Standards

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USPTO Requests Comments on the Experimental Use Exception

The United States Patent and Trademark Office ("USPTO") is seeking public input about the need for a statutory experimental use exception in light of the common law jurisprudence… more

Experimental Use Exception, Intellectual Property Protection, Patent Infringement, Patents, USPTO

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New York's LLC Transparency Act: What You Need to Know

On March 1, 2024, New York State Governor Kathy Hochul signed into law a revised version of New York State's LLC Transparency Act, which is modeled on FinCEN's Beneficial Ownership Information Rule. Other states are considering… more

Beneficial Owner, Corporate Transparency Act, Disclosure Requirements, FinCEN, Limited Liability Company (LLC)

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DIFC Courts Affirm Enforceability of Foreign Interim Arbitral Awards

In Neal v. Nadir [2024] DIFC A 001, the Dubai International Finance Centre ("DIFC") Court of Appeal held that provisional arbitration awards issued by tribunals seated outside the DIFC are enforceable within the DIFC. The… more

Arbitration, Arbitration Awards, Business Disputes, Business Litigation, DIFC

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Avoid the Pitfalls of NYC Freelancer Law

New York City's Freelance Isn't Free Act ("Act") took effect on May 15, 2017, and applies to any freelance contracts or agreements entered into on or after that date. The Act requires all agreements for freelance work of a value… more

Employer Liability Issues, Employment Contract, Employment Policies, Freelance Isn't Free Act (FIFA), Freelance Workers

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Federal Court Rejects False Claims Act's Draconian Penalties

Following a jury's verdict, a federal court slashed civil penalties under the False Claims Act ("FCA") as violative of the Constitution's 8th Amendment… more

Constitutional Challenges, Damages, Eighth Amendment, Excessive Fines Clause, False Billing

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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Capital Markets, EU, European Banking Authority (EBA), European Commission

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Innovative Insights: Legal Updates in Life Sciences | First Quarter 2025

Artificial intelligence is revolutionizing life science R&D (particularly in the realm of drug discovery) and challenging the traditional "human inventorship" requirement for U.S. patents. Recent guidance from the USPTO… more

Artificial Intelligence, Drug Pricing, Earn-Outs, Federal Funding, Foreign Aid

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California Is First State to Adopt Age-Appropriate Design Code Law Alert

The California Age-Appropriate Design Code Act expands privacy requirements for businesses with online products, services, or features directed to or likely to be accessed by users under the age of 18… more

COPPA, Corporate Counsel, Data Protection, Governor Newsom, Online Safety for Children

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Mexico Enacts General Rules for the Investment Project Registry

The Ministry of Economy issues the provisions to regulate the operation of the Single Registry of Investment Projects (the "Rules")… more

Foreign Investment, Investment Opportunities, Mexico, Regulatory Requirements

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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The Climate Report | Second Quarter 2021

Climate Change Regulatory Issues & Updates - Interim Update on Biden Administration Climate Change Initiatives - The last edition of the Climate Report discussed President Biden's signing, on his first day in office, of… more

Carbon Emissions, Climate Change, Environmental Policies, Environmental Social & Governance (ESG), FERC

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2022 Anti-Money Laundering and Sanctions Year in Review

In 2022, anti-money laundering ("AML") and sanctions controls were at the center of regulatory and enforcement activities in the United States and abroad. Globally, governments have continued to recognize the impact of AML… more

Anti-Money Laundering, Bank Secrecy Act, Financial Crimes, Financial Institutions, Financial Transactions

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Federal Circuit Remands Based On Inadequate Explanation

Palo Alto Networks (PAN) filed a petition for inter partes review of Centripetal Networks’ patent—U.S. Patent No. 10,530,903—which is directed to a computing system for correlating packets in communication networks with a… more

Appeals, Computer-Related Inventions, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation

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New York City Releases Final Rules on Automated Employment Decision Tools

New York City regulators have finalized rules implementing the city's law requiring bias audits of automated employment decision tools, publication of audit results, notice to employees, and other requirements… more

Artificial Intelligence, Automation Systems, City of New York, Decision-Making Process, Employer Liability Issues

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President Trump Pauses DOJ FCPA Enforcement and Orders Preparation of New Enforcement Guidelines

On February 10, 2025, President Donald J. Trump signed an Executive Order pausing enforcement of the Foreign Corrupt Practices Act ("FCPA") by the U.S. Department of Justice ("DOJ") for 180 days and ordering Attorney General Pam… more

Anti-Corruption, Attorney General, Department of Justice (DOJ), Enforcement Actions, Executive Orders

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Eighth Circuit Holds Penalties in Non-Intervened FCA Case Violate Excessive Fines Clause

The Situation: The False Claims Act ("FCA") imposes treble damages on defendants, as well as mandatory penalties per false claim. Because alleged false claims often involve much smaller amounts—for example, in cases with a… more

Corporate Counsel, Due Process, Eighth Amendment, Excessive Fines Clause, False Claims Act (FCA)

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Supreme Court Expands Window to Challenge Federal Regulations Under APA

Plaintiffs not initially affected by a regulation may now bring an Administrative Procedure Act ("APA") challenge to the regulation up to six years after they are first affected… more

Administrative Procedure Act, Administrative Proceedings, Corner Post Inc v Board of Governors of the Federal Reserve System, SCOTUS, Statute of Limitations

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Financial Government Support Measures Related to COVID-19 for European Corporates

The economic crisis caused by the spread of the coronavirus triggered an unprecedented response from European governments to support their economies with various measures of support. This overview summarizes the various… more

Business Interruption, Coronavirus Large Business Interruption Loan Scheme (the CLBILS), Coronavirus/COVID-19, EU, European Commission

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Federal Circuit Rules That Order Of Steps Sometimes Does Matter

Back in May of 2020, European patent-licensing company Sisvel filed a flurry of lawsuits against a dozen tech companies who had allegedly infringed Sisvel’s portfolio of wireless communication and networking patents. A… more

Appeals, Claim Construction, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement

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Board Leadership in Navigating Volatility

Public company boards are facing an unprecedented convergence of destabilizing forces, including geopolitical shocks, inflation, supply-chain disruptions, social unrest, and rapid technological change. At the same time,… more

Board of Directors, Corporate Culture, Corporate Governance, Fiduciary Duty, Market Volatility

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Germany's Legal Privilege: What In-House Counsel Need to Know

The Situation: Germany has no direct equivalent to the U.S. attorney-client privilege, but it offers specific legal protections for in-house counsel in certain proceedings… more

Attorney-Client Privilege, Client Services, Germany, In-House Perspective, Judicial Proceedings

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Fifteenth Anniversary Update: Annotated Local Patent Rules for the Northern District of Illinois

Almost 15 years ago, in an effort to create greater predictability for patent litigation in the Northern District of Illinois, the District enacted Local Patent Rules (“LPR”).1 This annotated version of the LPRs is released in… more

Intellectual Property Protection, Local Patent Rules, Patent Infringement, Patent Litigation, Patents

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The Regulation of Private Markets in Australia—Where to Next?

The Australian Securities & Investments Commission ("ASIC") is increasing its focus on private markets, adopting a similar approach to other international regulators. Following on from its introduction of a dedicated private… more

ASIC, Australia, Capital Markets, Corporate Governance, Investment Funds

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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Carbon Capture Utilization and Storage in the United States

Jones Day released a White Paper titled, “CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making.” This White Paper is a continuation on that topic, covering carbon capture… more

Carbon Capture and Sequestration, Climate Change, Department of Energy (DOE), Energy Policy, Energy Projects

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Executive Order on Promoting Competition in the American Economy: A Focus on Patent and Drug Law to Reduce Health Care Spending

Each year, Americans spend more than $1,500 per person on prescription drugs. Critics calling for measures to lower prescription drug costs often cast blame on alleged abuses of patent and competition laws. To address these… more

Anti-Competitive, Biden Administration, Biosimilars, Biotechnology, Competition

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The “Best Way” to Avoid Adverse Judgment

The PTAB recently denied Bestway (USA), Inc.’s (“Petitioner”) request for PGR of U.S. Pat. No. 11,959,512 B2 (“the ’512 patent”) but declined to enter adverse judgment against Intex Marketing, Ltd. (“Patent Owner”) for… more

Adverse Judgments, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation

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Environmental Reviews Under NEPA to Include More Thorough Consideration of Climate Change Risks

Several recent proposals impacting implementation of the National Environmental Policy Act ("NEPA") demonstrate a renewed focus on considering climate change in federal decision-making. In July, the Council on Environmental… more

CEQ, Climate Change, Environmental Impact Report (EIR), Environmental Policies, Environmental Review

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EPA Finalizes Rules to Regulate Pollution from Fossil Fuel-Fired Power Plants

On April 25, 2024, the Environmental Protection Agency ("EPA") finalized four rules to regulate pollution from fossil fuel-fired power plants. EPA's stated goal was to provide a framework on which power plants can rely for… more

Air Pollution, Clean Air Act, Energy Policy, Environmental Policies, Environmental Protection Agency (EPA)

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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The Climate Report | Second Quarter 2022

REGULATORY ISSUES & UPDATES - UK Introduces New Climate-Related Disclosure Regulations for UK Companies and LLPs - The Companies (Strategic Report) (Climate-related Financial Disclosure) Regulations 2022 ("the… more

Biden Administration, Climate Action Plan, Climate Change, Corporate Governance, Corporate Social Responsibility

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Federal Court Rejects False Claims Act's Draconian Penalties

Following a jury's verdict, a federal court slashed civil penalties under the False Claims Act ("FCA") as violative of the Constitution's 8th Amendment… more

Constitutional Challenges, Damages, Eighth Amendment, Excessive Fines Clause, False Billing

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The Federal Circuit Expands Scope of Domestic Industry Requirement in Lashify

In Lashify v. ITC, the Federal Circuit held that the economic prong of the domestic industry requirement, which is a precondition for obtaining International Trade Commission Section 337 relief, can be satisfied with investments… more

Appeals, Corporate Counsel, Enforcement Actions, Intellectual Property Protection, Patent Infringement

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UK Court of Appeal Provides Guidance on Interim Licenses in Latest FRAND Dispute

The United Kingdom's Court of Appeal has issued an important decision on the principles governing the grant of interim licenses in standard essential patent ("SEP") disputes… more

Appeals, Ericsson, FRAND, Good Faith, Intellectual Property Protection

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Navigating Insurance for the Los Angeles Wildfires: What You Need to Know

The Los Angeles wildfires, which began on January 7, 2025, have caused widespread devastation, destroying homes, businesses, and communities, while displacing thousands of residents. Insured loss estimates currently exceed $30… more

Business Interruption, California, Insurance Claims, Insurance Litigation, Insurance Regulations

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FTC Imposes Record Fine on Texas Energy Companies for HSR "Gun Jumping"

During antitrust review between M&A signing and closing, HSR rules restrict an acquiror from beginning to control the target's business… more

Acquisition Agreements, Antitrust Provisions, Antitrust Violations, Competition, Enforcement Actions

See all updates »

CMS Updates Kidney Care Choices Model

The Center for Medicare and Medicaid Innovation ("CMMI") announced sweeping changes to the Kidney Care Choices Model ("KCC Model"), a key set of value-based programs… more

Centers for Medicare & Medicaid Services (CMS), CMMI, Health Care Providers, Health Insurance, Healthcare

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UK Takeover Panel's Code Committee Proposes Changes to Treatment of Offer Conditions and Offer Timetable

The Code Committee ("Code Committee") of the UK Takeover Panel ("Panel") has published a consultation paper proposing a number of amendments to the City Code on Takeovers and Mergers ("Code") which, if adopted, will mark a… more

Competition, Consultation Papers, Merger Controls, Private Equity Firms, Takeovers

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Drop a Dime, Get a Dollar: DOJ's Antitrust Division and U.S. Postal Service Unveil Whistleblower Program

On July 8, 2025, the Department of Justice ("DOJ") and the U.S. Postal Service ("USPS") announced a Whistleblower Rewards Program that will provide financial incentives to individuals who report antitrust crimes and related… more

Antitrust Provisions, Antitrust Violations, Competition, Criminal Convictions, Department of Justice (DOJ)

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White House Opens Door to Broader Inclusion of Alternative Assets in Defined Contribution Retirement Plans

A hotly anticipated August 7, 2025, executive order, "Democratizing Access to Alternative Assets for 401(k) Investors" ("EO"), aims to reduce regulatory barriers and significantly expand access to "alternative assets"—including… more

401k, Compensation & Benefits, Defined Contribution Plans, Department of Labor (DOL), Digital Assets

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

See all updates »

Enhanced Sustainability Requirements for Federal Contractors

On April 22, 2024, the U.S. government issued a final rule ("Rule") to restructure and update the Federal Acquisition Regulation ("FAR") to implement a requirement for agencies to procure sustainable products and services to the… more

Biden Administration, Climate Change, Corporate Counsel, ENERGY STAR Program, Environmental Protection Agency (EPA)

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The ITC is Not Just for Patents – Brand Owners are Welcome Too

When people think of actions filed with the International Trade Commission (ITC) under section 337 of the Tariff Act of 1930, they likely think of patent infringement cases. And the majority of ITC cases do involve patents, but… more

Cease and Desist Orders, Exclusion Orders, Imports, Intellectual Property Protection, International Trade Commission (ITC)

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Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

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Two U.S. Courts Address Fair Use in Generative AI Training Cases

Federal courts continue to address whether training artificial intelligence ("AI") models on copyrighted materials without a license constitutes copyright infringement… more

Algorithms, Artificial Intelligence, Books, Copyright, Copyright Infringement

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SEC Enforcement in Financial Reporting and Disclosure: 2023 Year-End Update

We are pleased to present our latest update on financial reporting and issuer disclosure enforcement activity. This White Paper primarily focuses on the U.S. Securities and Exchange Commission’s (“SEC”) enforcement activity… more

Disclosure Requirements, Enforcement Actions, Financial Reporting, Securities and Exchange Commission (SEC), Securities Regulation

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Prevailing Wages and More: Developer and Contractor Obligations in CHIPS Act-Funded Construction Projects

In Short - The Situation: The CHIPS Act provides over $50 billion in the form of grants, loans, loan guarantees, and other programs to incentivize semiconductor manufacturing in the United States. The U.S. Department of… more

Construction Industry, Construction Workers, Employer Liability Issues, Prevailing Wages, U.S. Commerce Department

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Institution Denied Based On Written Description in “Alternative Embodiments”

On September 21, 2023, the PTAB denied United Services Automobile Association’s petition to institute inter partes review of Auto Telematics’s U.S. Patent No. 9,633,487.  IPR2023-00519, Paper 10… more

Automotive Industry, Denial of Institution, Innovative Technology, Inter Partes Review (IPR) Proceeding, Patent Applications

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A Review of 2024 Labor & Employment Legislation in California

The 2024 California legislative session saw the passage of a number of new and important labor and employment laws… more

California, Employee Benefits, Employees, Employer Liability Issues, Employment Policies

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California Takes Significant Step Towards Reforming CEQA and Streamlining Infrastructure Projects

On May 19, 2023, California Governor Gavin Newsom unveiled a significant legislative package and signed an executive order aimed at reforming the California Environmental Quality Act ("CEQA") and streamlining infrastructure… more

CEQA, Clean Energy, Governor Newsom, Infrastructure, Renewable Energy

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DOJ Announces Corporate Whistleblower Awards Pilot Program

The Development: On August 1, 2024, the Department of Justice's ("DOJ") Criminal Division announced its Corporate Whistleblower Awards Pilot Program ("Pilot Program"), designed to reward whistleblowers who report information… more

CFTC, Corporate Misconduct, Department of Justice (DOJ), False Claims Act (FCA), Financial Crimes

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CFTC Divisions Interpret "U.S. Person" Definition and U.S. Location Versus Foreign Location

A 2024 CFTC enforcement action settlement that may have introduced a new test for when the Commodity Exchange Act and the agency's regulations apply on a cross-border basis concerned then-CFTC Commissioner and now Acting CFTC… more

CFTC, Commodity Exchange Act (CEA), Cross-Border Transactions, Derivatives, Enforcement Actions

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U.S. Supreme Court Ends Heightened Evidentiary Hurdle for "Majority Group" Plaintiffs in Title VII Discrimination Cases

On June 5, 2025, the Supreme Court decided Ames v. Ohio Department of Youth Services and held that a "majority group" plaintiff in a Title VII case need not satisfy a heightened evidentiary burden to establish a prima-facie case… more

Ames v Ohio Department of Youth Services, Disparate Treatment, Employment Discrimination, Employment Litigation, Evidentiary Standards

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Significant Reforms on the Horizon for Security of Payment in Victoria’s Construction Industry

Like similar regimes in other States, the Building and Construction Industry Security of Payment Act 2002 (VIC) (“Victorian SOPA”) was intended to reduce insolvency in the construction industry and enhance cash flow for… more

Australia, Conditions of Payment, Construction Contracts, Construction Project, Contract Terms

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Climate Change Disclosures Are Coming: Is Your Insurance Program Ready?

Almost daily there are reports of new environmental, social, and governance ("ESG") claims being brought against public companies with no end in sight. Within the arena of ESG issues, climate change disclosures are an emerging… more

Climate Change, Commercial Insurance Policies, Corporate Governance, D&O Insurance, Disclosure Requirements

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Discretionary Denial Where Inventors Petitioned for Unpatentability

Coke Morgan Stewart, the acting director of the United States Patent and Trademark Office (“USPTO”), exercised discretion under 35 U.S.C. § 314(a) to deny Tessell’s (“Petitioner’s”) petition in favor of Nutanix (“Patent Owner”)… more

Intellectual Property Protection, Inventions, Inventors, Patent Infringement, Patent Litigation

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EU Omnibus Package Published: CSRD and CS3D to Be Delayed and Scaled Back

The European Union published its long-awaited "Omnibus" package, proposing to delay key European ESG rules, while simultaneously reducing the applicability and burden of corporate sustainability reporting and due diligence… more

Carbon Emissions, Corporate Governance, Corporate Sustainability Reporting Directive (CSRD), Disclosure Requirements, Due Diligence

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FTC Finalizes Amendments to the Children's Online Privacy Protection Act Rule

On April 22, 2025, the Federal Trade Commission ("FTC") published the finalized amendments to the Children's Online Privacy Protection Act ("COPPA") Rule (the "Rule"), marking the first major update since 2013… more

COPPA, Data Privacy, Federal Trade Commission (FTC), FERPA, Final Rules

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Business Restructuring Review Vol. 24, No. 4 | July–August 2025

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once the… more

Appeals, Bankruptcy Code, Bankruptcy Court, Borrowers, Chapter 11

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Business Restructuring Review Vol. 21, No. 6 | November-December 2022

On October 14, 2022, the U.S. Court of Appeals for the Fifth Circuit issued a long-awaited ruling on whether Ultra Petroleum Corp. (“UPC”) must pay a $201 million make-whole premium to noteholders under its confirmed chapter 11… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 15, Chapter 7

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CMS Updates Kidney Care Choices Model

The Center for Medicare and Medicaid Innovation ("CMMI") announced sweeping changes to the Kidney Care Choices Model ("KCC Model"), a key set of value-based programs… more

Centers for Medicare & Medicaid Services (CMS), CMMI, Health Care Providers, Health Insurance, Healthcare

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New York Appellate Court Holds that PSLRA Discovery Stay Applies in State Actions

A recent decision by the First Department of the New York Appellate Division held that the Private Securities Litigation Reform Act's automatic stay of discovery applies in state court, but not during the pendency of an appeal… more

Appellate Courts, Automatic Stay, Motion to Dismiss, Oral Argument, PSLRA

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Reversal of Burden of Proof Under Proposal for a New EU Product Liability Directive

In Short - The Situation: The EU Product Liability Directive 85/374/EEC ("PLD") was adopted nearly 40 years ago and has remained almost unchanged since its inception… more

Burden of Proof, Damages, Distributors, EU, European Commission

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2021 Mid-Year Review: Key Global Trade Secret Developments

A trade secret is any information used in one’s business that derives independent economic value from being kept secret. Unlike patents, trade secrets are protected indefinitely for as long as they remain a secret. In the United… more

Biden Administration, Competition, Computer Fraud and Abuse Act (CFAA), Confidential Information, Defend Trade Secrets Act (DTSA)

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SEC Adopts Long-Awaited and Heavily Debated Private Fund Adviser Rules

The U.S. Securities and Exchange Commission ("SEC") adopted multiple rules that will impact private funds, governing documents, and side letters… more

Financial Services Industry, Investment Adviser, New Rules, Private Equity, Private Funds

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Tillis Urges FDA, USPTO to Investigate Potential False Narrative by Drug Critics

On January 31, 2022, Sen. Thom Tillis (R-N.C.), the Ranking Member of the Senate Judiciary Committee Subcommittee on Intellectual Property, sent a letter to Janet Woodcock, Acting Commissioner of the FDA, and Drew Hirschfield,… more

Competition, Data Management, Deceptive Intent, Drug Pricing, Food & Drug Regulations

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Delaware Supreme Court Issues Decision Emphasizing Stability of Corporate Law

The Delaware Supreme Court recently confirmed that the adoption of an exculpatory charter amendment does not require a class vote under the Delaware General Corporation Law ("DGCL")… more

Capital Structures, Charter Amendments, DE Supreme Court, Delaware General Corporation Law, Proposed Amendments

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No Fair Notice, but a Fair Outcome: Fifth Circuit Rules Against CFTC for "Rulemaking by Enforcement"

On January 9, 2024, the U.S. Court of Appeals for the Fifth Circuit reversed a 2022 jury verdict for the Commodity Futures Trading Commission ("CFTC") against EOX Holdings LLC and a former broker, Andrew Gizienski, holding "that… more

Brokers, CFTC, Enforcement Actions, Fair-Notice Standard, Investment

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Post-Order Merger Divestitures Likely to Face "Uphill" Battle with FTC

New guidance from the Federal Trade Commission's ("FTC") staff describes the FTC's views on "post-order" divestitures and highlights the difficulties in persuading the FTC to abandon its preference for upfront buyers in merger… more

Acquisitions, Competition, Corporate Counsel, Divestiture, Divestment

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U.S. Supreme Court Encourages Federal Rule 7(a)(7) Replies—A Potential Boon for Defendants

The U.S. Supreme Court recently reminded district courts that they may use Federal Rule of Civil Procedure 7(a)(7)—a little-known rule—to screen out meritless complaints before discovery… more

Counterclaims, Defense Strategies, Discovery, Dismissals, Federal Rules of Civil Procedure

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Understanding DORA: Digital Operational Resilience Act Now in Effect for Financial Entities and ICT Service Providers

DORA, the first EU regulation designed to establish a unified and robust digital resilience standard for the financial sector, becomes directly applicable on January 17, 2025, introducing significant penalties and consequences… more

Compliance, Cybersecurity, Data Privacy, Data Protection, Digital Operational Resilience Act (DORA)

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PTAB Announces Rules Formalizing Director Review

In 2021, following the Supreme Court’s Arthrex decision, the PTO issued an interim procedure for requesting Director Review. The PTO has now issued a Notice of Proposed Rulemaking (“NPRM”) formalizing the Director Review… more

Administrative Review, America Invents Act, Final Written Decisions, Notice of Proposed Rulemaking (NOPR), NPRM

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Global Enforcement And Asset Recovery Series - Article 1: Recognition And Enforcement Of Judgments And Arbitral Awards

Getting a judgment or award does not automatically mean getting paid. Particularly where judgment or award debtors are in less familiar jurisdictions, there can be a strong incentive to delay or avoid payment. From the… more

Arbitration, Arbitration Agreements, Arbitration Awards, Asset Recovery, Dispute Resolution

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Snap Removal After Texas Brine: Considerations for Forum Defendants in the Fifth Circuit

The Situation: Defendants sued in state court are making use of a procedural technique known as "snap removal" to get otherwise non-removable cases into federal court. Snap removal takes advantage of the plain language of the… more

Congressional Intent, Forum Defendant Rule, Fraudulent Joinder, Removal, Statutory Interpretation

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U.S. House Passes GENIUS and CLARITY Acts, Signaling Bipartisan Support for Digital Assets

The GENIUS Act's passage marks the first major crypto legislation approved by both chambers of Congress, signaling a significant step toward regulatory clarity for stablecoins, while the CLARITY Act's advancement by the House… more

Bipartisan Agreement, CFTC, Commodities, Cryptocurrency, Decentralized Finance (DeFi)

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Supreme Court Again Reins in Scope of Claims Under the Alien Tort Statute

In Nestle, six citizens of Mali claimed they were trafficked into and enslaved on cocoa farms in the Ivory Coast. Pursuant to the ATS, these former child slaves sought to impose liability upon Nestle, Cargill, and other U.S… more

Alien Tort Statute, Cargill, Cargill Inc. v Doe I, Extraterritoriality Rules, Human Rights

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Antitrust/M&A - Year-in-Review 2024

2024 was a significant year for merger enforcement worldwide. In the United States, the Biden administration continued the aggressive approach reflected in the revamped Merger Guidelines issued in December 2023. In Europe, the… more

Acquisition Agreements, Anti-Competitive, Antitrust Provisions, Competition, Corporate Sales Transactions

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American Airlines Successfully Defends Helms-Burton Act Win

In the first published appellate opinion addressing a lawsuit under the Helms-Burton Act, the United States Court of Appeals for the Fifth Circuit held that the plaintiff failed to satisfy a statutory precondition because he… more

American Airlines, Confiscated Property, Cuba, Helms-Burton Act, Inheritance

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Delegated Rehearing Panel Sends Lifeline to Mercedes-Benz

A Delegated Rehearing Panel (“DRP”) recently modified the PTAB’s construction of the claim term “workload” and remanded, giving Mercedes-Benz USA, LLC (“Petitioner”) another opportunity to challenge a processor patent… more

Appeals, Claim Construction, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Judicial Authority

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ICJ Issues Advisory Opinion on States' Legal Obligations Regarding Climate Change

The International Court of Justice ("ICJ") stated that States have legal obligations to regulate emissions and may be held internationally responsible for climate inaction—including the failure to effectively regulate greenhouse… more

Carbon Emissions, Climate Change, Environmental Policies, Greenhouse Gas Emissions, Human Rights

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The Regulation of Private Markets in Australia—Where to Next?

The Australian Securities & Investments Commission ("ASIC") is increasing its focus on private markets, adopting a similar approach to other international regulators. Following on from its introduction of a dedicated private… more

ASIC, Australia, Capital Markets, Corporate Governance, Investment Funds

See all updates »

Class Actions Worldview: A Study of Trends Around the Globe, Part IV China, Japan, Belgium, The Netherlands, And England And Wales - May 2024

Although class actions have been common in the United States for decades, they have not been as widely used in the rest of the world. The situation and risks remain in flux, however, as more countries have renewed momentum to… more

Belgium, China, Class Action, England, International Litigation

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The CFTC Finalizes Guidance on Voluntary Carbon Credit Contracts for Derivatives Markets

The Commodity Futures Trading Commission (“CFTC” or “Commission”) has inserted itself in recent years into efforts to scale the cash market for “high integrity” voluntary carbon credits. On September 20, 2024, the Commission… more

Carbon Off-Set Credits, CFTC, Corporate Governance, Derivatives, Investment

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FTC Imposes Record Fine on Texas Energy Companies for HSR "Gun Jumping"

During antitrust review between M&A signing and closing, HSR rules restrict an acquiror from beginning to control the target's business… more

Acquisition Agreements, Antitrust Provisions, Antitrust Violations, Competition, Enforcement Actions

See all updates »

EPA's PFAS Reporting Rule Requires Broad Retroactive Disclosure of PFAS Data

The Situation: In 2019, Congress amended the Toxic Substances Control Act ("TSCA") to require the Environmental Protection Agency ("EPA") to promulgate a reporting rule on per- and polyfluoroalkyl substances ("PFAS"). EPA… more

Contamination, Discharge of Pollutants, Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances

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Japan Legal Update Vol. 53 | Autumn 2020

Technology - Japan Ministries Support Expansion of E-Signature Use - On September 4, 2020, the Japanese Ministry of Internal Affairs and Communications, the Ministry of Justice, and the Ministry of Economy, Trade and… more

Anti-Monopoly, Authentication, Competition, Digital Signature Standards, E-Signatures

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Business Restructuring Review Vol. 24, No. 2 | March–April 2025

Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision… more

Assignments, Bankruptcy Court, Chapter 11, Chapter 15, Comity

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Landmark Enforcement Under U.S. CPSA Leads to Sentencing of Corporate Executives for Failure to Report Product Hazards

In June 2025, two former executives were each sentenced to more than three years in prison for conspiracy and failure to report hazardous products to the U.S. Consumer Product Safety Commission ("CPSC"), marking the first… more

Consumer Product Safety Act (CPSA), Consumer Product Safety Commission (CPSC), Corporate Counsel, Corporate Executives, Criminal Prosecution

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From Aspiration to Execution—ESG Legal Risks in the UK Real Estate Sector

ESG issues are front and centre in many sectors and many boardrooms. The UK real estate sector is no exception. Unsurprisingly, the principal focus has been on the “E”, with the environmental aspects of developing and operating… more

Climate Change, Disclosure Requirements, Environmental Social & Governance (ESG), Task Force on Climate-related Financial Disclosures (TCFD), UK

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Severed Knowledge: Negative Trade Secrets Through the Lens of Compartmentalized Memory

Since the passage of the Defend Trade Secrets Act ("DTSA") in 2016, courts have increasingly addressed the nuance of negative trade secrets—information about what does not work, often referred to as "negative know-how."… more

Business Litigation, Confidential Information, Damages, Defend Trade Secrets Act (DTSA), Intellectual Property Litigation

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The Hammer Falls: U.S. Antitrust Agencies Issue Final Antitrust Merger Guidelines

As expected, the final guidelines expand the types of transactions that may receive heightened scrutiny or result in a merger challenge… more

Antitrust Division, Antitrust Provisions, Department of Justice (DOJ), Federal Trade Commission (FTC), FTC Guidelines

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Civil Justice Council Publishes Report on Civil Enforcement

The Civil Justice Council ("CJC") has issued a new report calling for an overhaul of the enforcement regime in England & Wales… more

Debt, Debt Collection, Enforcement Actions, Judgment Creditors, UK

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Florida Governor Signs Sweeping Tort Reform Bill Into Law

On March 24, 2023, Florida Governor Ron DeSantis signed into law HB 837/SB 236, which is now in effect and will significantly impact tort cases… more

Governor DeSantis, Insurance Claims, Insurance Industry, Property Insurance, Tort Reform

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NYDFS Expands Cybersecurity Regulations: Extortion Payment Reporting, Corporate Governance, and Technical Requirements

A major amendment to the New York State Department of Financial Services' cybersecurity regulations establishes affirmative cybersecurity oversight duties and requires companies to report extortion payments to the agency… more

Chief Information Security Officer (CISO), Cybersecurity, Cybersecurity Framework, Data Protection, Extortion

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EU Standards for Threat-Led Penetration Testing: New Cyber Compliance Imperatives for Financial Institutions

The EU has introduced Delegated Regulation (EU) 2025/1190, establishing the first harmonized standards for threat-led penetration testing ("TLPT") across the financial sector. The regulation aims to strengthen the cyber… more

Credit Institutions, Cybersecurity, Digital Operational Resilience Act (DORA), Enforcement, EU

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Investment Advisers Subject to AML and SARs Requirements

The Situation: The Financial Crimes Enforcement Network ("FinCEN") has adopted a rule that subjects certain investment advisers to anti-money laundering/countering the financing of terrorism program ("AML") requirements… more

Anti-Money Laundering, Bank Secrecy Act, BSA/AML, Final Rules, Financial Crimes

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Australia's New Register of Foreign Ownership of Australian Assets Commences on July 1, 2023

In Short - The Situation: From July 1, 2023, foreign investors in Australia will be subject to new registration requirements under Australia's foreign investment regime… more

Australia, Foreign Acquisitions and Takeovers Act 1975 (FATA), Foreign Governments, Foreign Investment, Foreign Ownership

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Delaware Court Applies Traditional Entire Fairness Standard to Very Large Stockholder-Approved, Performance-Based Equity Award

The Case: A Tesla stockholder sued Tesla's board of directors to rescind a performance-based stock option grant awarded to Elon Musk, Tesla's CEO. The option award was worth a total of $56 billion and offered the opportunity to… more

Board of Directors, Compensation & Benefits, Controlling Stockholders, Corporate Counsel, DE Supreme Court

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Clarity in Singapore: How COMI Is Determined Under the UNCITRAL Model Law on Cross-Border Insolvency

In re Fullerton Capital Ltd [2025] SGCA 11, a BVI-incorporated company entered into insolvency proceedings in the British Virgin Islands ("BVI"). The liquidators sought recognition of the BVI liquidation as a "foreign main… more

Appeals, British Virgin Islands, COMI, Commercial Bankruptcy, Cross-Border

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Generative AI-Assisted Patent Inventorship Questions Remain

The Situation: The U.S. Supreme Court recently denied certiorari in Thaler v. Vidal, leaving intact the Federal Circuit's ruling that only human beings, and not artificial intelligence ("AI") systems, can be inventors under U.S… more

Algorithms, Artificial Intelligence, Denial of Certiorari, Intellectual Property Owner’s Association (IPO), Intellectual Property Protection

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Sustainability in EU Capital Markets: New Rules for Fund and Asset Managers Ahead

Currently in the European Union, no level playing field exists for asset management and rating agency activities when it comes to ensuring sustainability. The European Securities and Market Authority ("ESMA") is proposing… more

Alternative Investment Funds, Asset Management, Capital Markets, Credit Rating Agencies, EU

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Civil Justice Council Publishes Report on Civil Enforcement

The Civil Justice Council ("CJC") has issued a new report calling for an overhaul of the enforcement regime in England & Wales… more

Debt, Debt Collection, Enforcement Actions, Judgment Creditors, UK

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The One Big Beautiful Bill Becomes Law: Key Real Estate Tax Changes

Signed into law on July 4, 2025, the One Big Beautiful Bill Act (the "Act") permanently extends and modifies several cornerstone provisions of the Tax Cuts and Jobs Act of 2017, restores key business incentives, and makes… more

Business Taxes, EBITDA, Federal Budget, Internal Revenue Code (IRC), Investment Opportunities

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Trade Controls in the EU: COVID-19 Measures at a Glance

In response to the novel coronavirus ("COVID-19") pandemic, the European Union ("EU"), various Member States and the United Kingdom have adopted trade control measures aimed at avoiding shortages and ensuring the availability… more

Coronavirus/COVID-19, EU, European Commission, Export Controls, Exports

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PTAB Denies Authorization to Submit Exhibit For Not Following the Rules

The PTAB recently granted a joint request to expunge an exhibit and contemporaneously denied the Patent Owner’s request for authorization to file a Motion for Leave to Submit the same exhibit in Bausch & Lomb Inc. v. ZeaVision,… more

Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board, Patents

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Clintons Puts Its Cards on the Table: Part 26A Restructuring Plan Sanctioned

On 24 August 2023, the English courts sanctioned a Part 26A Restructuring Plan for Esquire Retail Limited, trading as Clintons, with distinctive treatment of business rates… more

Borrowers, Creditors, Direct Lending, Investment Management, Liquidity

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Adoption of Final Version of European Green Bond Standard: A New Landmark Tool for Sustainable Finance

The Situation: On October 5, 2023, the European Parliament and the Council of the European Union adopted the European Green Bond Regulation ("EuGB Regulation"), establishing a voluntary harmonized standard open to both EU and… more

EU, European Commission, European Securities and Markets Authority (ESMA), Financial Markets, Green Bonds

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First Tranche of Australia's Much Anticipated Privacy Law Reforms Revealed

The first wave of Australia's expansive privacy law reforms has been introduced into Federal Parliament in the Privacy and Other Legislation Amendment Bill 2024 (Cth) ("Bill")… more

Australia, Cybersecurity, Damages, Data Breach, Data Privacy

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The Death of the National Mediation Board’s "Straw Man" Decertification Procedure?

The National Mediation Board's proposed rule would create a direct decertification procedure, eliminating its current, convoluted "straw man" decertification procedure. On January 31, 2019, the National Mediation Board… more

Comment Period, Decertification, National Mediation Board (NMB), Notice of Proposed Rulemaking (NOPR), Proposed Rules

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IRS to Begin Examination of Hundreds of High-Wealth Individuals Starting July 15

The Internal Revenue Service ("IRS") announced that as soon as it reopens its collection and examination functions on July 15, it will immediately begin the examination of hundreds of high-income individuals and private… more

Closely Held Businesses, Estate Planning, Estate Tax, High Net-Worth, IRS

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Hydrogen Supply and Utilization Promotion Bill: Supporting Low-carbon Hydrogen and Derivatives in Japan

The Situation: The Japanese Cabinet has approved a draft bill to financially incentivize the supply and utilization of low-carbon hydrogen and its derivatives ("Hydrogen Bill") as part of its push to reach net zero by 2050… more

Fossil Fuel, Hydrogen Power, Infrastructure, Japan, Net Zero

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New EPA Positions Reflected in Sweeping Rollback of Greenhouse Gas Regulation

The Environmental Protection Agency ("EPA") proposed a rule that would rescind the 2009 Endangerment Finding, citing a new interpretation of the relevant section in the Clean Air Act ("CAA"), a lack of clear congressional intent… more

Administrative Procedure Act, Clean Air Act, Climate Change, Constitutional Challenges, Endangerment Finding

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Colorado Enacts AI Consumer Protection Legislation

On May 17, 2024, Colorado enacted S.B. 24-205 (the "Act"), which imposes a duty of reasonable care on developers and deployers of high-risk artificial intelligence ("AI") systems to protect consumers from risks of algorithmic… more

Algorithms, Artificial Intelligence, Colorado, Consumer Protection Act, Discrimination

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New IFRS and U.S. GAAP Lease Accounting Rules Impact M&A Transactions

The Situation: New rules for the accounting of operating leases will come into force under the International Financial Reporting Standards ("IFRS") and U.S. Generally Accepted Accounting Principles ("U.S. GAAP") in 2019. The… more

Acquisitions, EBITDA, GAAP, IFRS, Leases

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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EU Foreign Subsidies Regulation: European Commission Launches Consultation on Guidelines

The European Commission seeks stakeholders' views on the guidelines for the application of the Foreign Subsidies Regulation ("FSR")… more

Competition, Corporate Sales Transactions, EU, European Commission, Foreign Investment

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HHS Pilot Program to Evaluate 340B Drug Pricing Program Rebate Models

The Health Resources and Services Administration ("HRSA") plans to implement a limited pilot program that will allow approved manufacturers to issue post-purchase rebates for 340B covered outpatient drugs rather than upfront… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Drug Pricing, Health Insurance, Healthcare

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United States Signs Executive Order to Implement EU-U.S. Trans-Atlantic Data Privacy Framework

On October 7, 2022, President Biden signed an executive order on "Enhancing Safeguards for United States Signals Intelligence Activities," outlining the measures that the United States will take to implement its commitments… more

Cybersecurity, Data Privacy, Data Protection, Data Security, EU-US Privacy Shield

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New White House Report Outlines U.S. Policy for Digital Assets

President Trump's "Working Group on Digital Asset Markets" recently released a report with a strategic roadmap to advance American leadership in digital financial technology… more

Anti-Money Laundering, Bank Secrecy Act, Blockchain, Cryptoassets, Cryptocurrency

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EU Geopolitical Risk Update - Key Policy & Regulatory Developments No. 121

This regular alert covers key policy and regulatory developments related to EU geopolitical risks, including in particular, economic security, Russia’s war against Ukraine, health threats, and cyber threats. It does not purport… more

Competition, Cyber Threats, Cybersecurity, Data Protection, Economic Sanctions

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Governance Under CRD VI: Harmonized EU Requirements

The Situation: Prior to the enactment of Capital Requirements Directive ("CRD") VI, corporate governance rules for the financial services industry were not harmonized across EU Member States… more

Capital Requirements, CRD IV Directive, EU, European Banking Authority (EBA), Financial Institutions

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DOJ Criminal Division Announces Priority Enforcement Areas and Publishes Revised Enforcement Guidance

On May 12, 2025, the Department of Justice Criminal Division announced significant changes to its corporate white-collar criminal enforcement priorities. In line with the Trump administration’s recalibration toward prioritizing… more

Corporate Governance, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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APAC ESG Update | Spring Quarter 2024

This White Paper focuses on ESG developments through the Asia-Pacific (“APAC”) region since the start of 2024. For businesses present in the APAC region, as well as doing business there, it is imperative to be vigilant of the… more

Asia Pacific, Climate Action Plan, Climate Change, Environmental Protection Agency (EPA), Environmental Social & Governance (ESG)

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Crypto Exchange-Traded Products: Navigating the Intersection of Crypto and Securities

Direct ownership of crypto-assets or mere exposure to the value of crypto-assets is an investment decision, with both investment methods requiring specific approaches to mitigate and manage risks effectively… more

Cryptoassets, EU, Exchange-Traded Products, Financial Conduct Authority (FCA), Financial Markets

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Spanish Fund and Venture Capital Regulation Adapts to European Regulations

In Short - The Situation: Spain's new Law 18/2022 regarding the creation and growth of companies (the so-called "Create and Grow Law") will facilitate investment in start-ups and includes improvements in foreign financing… more

Investment, Investment Funds, Investors, Private Equity, Startups

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China Boosts Enforcement of Anti-Foreign Sanctions Law

China has recently taken several actions showing its commitment to counter trade restrictions imposed by other countries. In March 2025, it released regulations implementing the 2021 Anti-Foreign Sanctions Law. In tandem with… more

China, Economic Sanctions, Enforcement Actions, Exports, Foreign Policy

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Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

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EU Gigabit Infrastructure Act Paves Way for More Access to Physical Infrastructures and Potential Further Deregulation of Telecom Sector

The Situation: The European Parliament and Council approved the Gigabit Infrastructure Act ("GIA") on 29 April 2024. The GIA replaces Directive 2014/61/EU. The GIA is a regulation which is directly applicable and binding in all… more

Broadband, Electronic Communications, EU, European Commission, European Parliament

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Hong Kong International Arbitration Centre Updates Administered Arbitration Rules

The Hong Kong International Arbitration Centre ("HKIAC") has released its 2024 Administered Arbitration Rules ("2024 Rules"). The 2024 Rules focus on improving the time- and cost-efficiency of the HKIAC arbitral process, and… more

Arbitration, Arbitration Agreements, Business Disputes, Hong Kong, Hong Kong International Arbitration Centre (HKIAC)

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Copyrightability of AI Outputs: U.S. Copyright Office Analyzes Human Authorship Requirement

Artificial intelligence ("AI") raises unique challenges in the context of copyright law. To address and clarify various issues arising at the intersection of AI and copyright, the U.S. Copyright Office ("Office") is in the… more

Artificial Intelligence, Authorship, Copyright, Copyright Infringement, Copyright Litigation

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Clarity in Singapore: How COMI Is Determined Under the UNCITRAL Model Law on Cross-Border Insolvency

In re Fullerton Capital Ltd [2025] SGCA 11, a BVI-incorporated company entered into insolvency proceedings in the British Virgin Islands ("BVI"). The liquidators sought recognition of the BVI liquidation as a "foreign main… more

Appeals, British Virgin Islands, COMI, Commercial Bankruptcy, Cross-Border

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China Finalizes Its First Anti-Corruption Guidelines for the Health Care and Life Sciences Industry

On January 14, 2025, China's State Administration for Market Regulation ("SAMR"), the primary regulatory agency in China for overseeing market supervision, issued its Compliance Guidelines for Health Care Companies to Prevent… more

Anti-Corruption, Bribery, China, Corporate Governance, Enforcement Actions

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Enforcement of Procedural Timelines in Arbitrations in Singapore

A recent Singapore International Commercial Court ("SICC") decision considered the extent to which an arbitral tribunal can exclude evidence after a specified date. It is often said that arbitral tribunals are the masters of… more

Arbitration, Arbitration Agreements, Commercial Court, Federal Arbitration Act, Singapore

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Wait, There's More: The CFTC Proposes Additional Swap Reporting and Recordkeeping Amendments

The Commodity Futures Trading Commission ("CFTC") has proposed swap reporting and recordkeeping amendments that would: designate a unique product identifier ("UPI") and product classification system ("PCS") for the "other… more

CFTC, Financial Markets, Financial Services Industry, NPRM, Swap Data Repositories

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Key Patent Decisions of 2019

In another noteworthy year for patent law, the U.S. Supreme Court and the Federal Circuit issued several decisions that altered the patent landscape, including three Supreme Court decisions. The topics of the key cases included… more

America Invents Act, Attorney's Fees, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation

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PTAB Pendulum Swings in Favor of Discretionary Denial

Recent developments at the USPTO suggest a significant shift in favor of the PTAB exercising discretionary denial and uncertainty on behalf of parties to PTAB proceedings… more

Administrative Agencies, Administrative Procedure Act, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Inventions

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White House Opens Door to Broader Inclusion of Alternative Assets in Defined Contribution Retirement Plans

A hotly anticipated August 7, 2025, executive order, "Democratizing Access to Alternative Assets for 401(k) Investors" ("EO"), aims to reduce regulatory barriers and significantly expand access to "alternative assets"—including… more

401k, Compensation & Benefits, Defined Contribution Plans, Department of Labor (DOL), Digital Assets

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APAC ESG Update | Spring Quarter 2024

This White Paper focuses on ESG developments through the Asia-Pacific (“APAC”) region since the start of 2024. For businesses present in the APAC region, as well as doing business there, it is imperative to be vigilant of the… more

Asia Pacific, Climate Action Plan, Climate Change, Environmental Protection Agency (EPA), Environmental Social & Governance (ESG)

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DOJ Announces Corporate Whistleblower Awards Pilot Program

The Development: On August 1, 2024, the Department of Justice's ("DOJ") Criminal Division announced its Corporate Whistleblower Awards Pilot Program ("Pilot Program"), designed to reward whistleblowers who report information… more

CFTC, Corporate Misconduct, Department of Justice (DOJ), False Claims Act (FCA), Financial Crimes

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Mining Reform in Mexico: Principal Amendments, Effect, and Implications for Foreign Investors

In Short - The Background: On May 8, 2023, Mexico published several amendments to laws relating to the country's mining industry… more

Concession Agreements, Expropriation, Foreign Investment, Infrastructure, Investor Protection

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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U.S. Supreme Court Invites Solicitor General to Submit Briefing on "Skinny Labels"

On June 23, 2025, the Supreme Court invited the Solicitor General to submit a brief expressing the views of the United States—dramatically increasing the likelihood that the Court will eventually grant review—in Hikma… more

Appeals, Food and Drug Administration (FDA), Induced Infringement, Patent Infringement, Patent Litigation

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EU Geopolitical Risk Update - Key Policy & Regulatory Developments No. 121

This regular alert covers key policy and regulatory developments related to EU geopolitical risks, including in particular, economic security, Russia’s war against Ukraine, health threats, and cyber threats. It does not purport… more

Competition, Cyber Threats, Cybersecurity, Data Protection, Economic Sanctions

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Qualified Small Business Stock Benefits Expanded in New Tax Bill

The One Big Beautiful Bill Act expands the qualified small business stock benefits available to founders and investors… more

Federal Budget, Internal Revenue Code (IRC), Investors, IRS, New Legislation

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JONES DAY PRESENTS®: The Mechanics of Multidistrict Litigation: Streamlining Complex Cases

Increasingly, to try cases that involve multiple plaintiffs across various jurisdictions more efficiently, a judicial panel will create a multidistrict litigation (MDL). Jones Day partners Bridget O'Connor and Billy Laxton… more

Discovery, Jurisdiction, Multidistrict Litigation

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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2023 Securities Litigation Year in Review

During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings involving… more

Class Certification, Cryptocurrency, False Statements, Fiduciary Duty, Financial Institutions

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Trade Secrets and Generative AI: Protective Measures In an Evolving Technological Landscape

In Short - The Background: In recent months, artificial intelligence ("AI") platforms have taken the world by storm, introducing new, powerful tools for generating original and useful content based on training data and user… more

Algorithms, Artificial Intelligence, Data Collection, Data Privacy, Data Protection

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Australia's New Register of Foreign Ownership of Australian Assets Commences on July 1, 2023

In Short - The Situation: From July 1, 2023, foreign investors in Australia will be subject to new registration requirements under Australia's foreign investment regime… more

Australia, Foreign Acquisitions and Takeovers Act 1975 (FATA), Foreign Governments, Foreign Investment, Foreign Ownership

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FTC Finalizes Amendments to the Children's Online Privacy Protection Act Rule

On April 22, 2025, the Federal Trade Commission ("FTC") published the finalized amendments to the Children's Online Privacy Protection Act ("COPPA") Rule (the "Rule"), marking the first major update since 2013… more

COPPA, Data Privacy, Federal Trade Commission (FTC), FERPA, Final Rules

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New Directive From OFCCP Signals the Biden Administration's Prioritization of Pay Equity

On March 15, 2022, to coincide with this year's "Equal Pay Day," the OFCCP issued a new Directive on pay equity audits. Its stated purpose is to "provide guidance on how OFCCP will evaluate federal contractors' compliance with… more

Biden Administration, Compensation & Benefits, Employer Liability Issues, Equal Pay, Federal Contractors

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HHS Pilot Program to Evaluate 340B Drug Pricing Program Rebate Models

The Health Resources and Services Administration ("HRSA") plans to implement a limited pilot program that will allow approved manufacturers to issue post-purchase rebates for 340B covered outpatient drugs rather than upfront… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Drug Pricing, Health Insurance, Healthcare

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Recent Actions Relating to Section 301 Tariffs on Imports of Chinese-Origin Products

The Situation: The U.S. government took action on three sets of Chinese-origin goods subject to, or potentially subject to, additional tariffs under Section 301. The Developments: The U.S. government imposed additional 25… more

China, Exclusions, Imports, Section 301, Tariffs

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Severed Knowledge: Negative Trade Secrets Through the Lens of Compartmentalized Memory

Since the passage of the Defend Trade Secrets Act ("DTSA") in 2016, courts have increasingly addressed the nuance of negative trade secrets—information about what does not work, often referred to as "negative know-how."… more

Business Litigation, Confidential Information, Damages, Defend Trade Secrets Act (DTSA), Intellectual Property Litigation

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Injury in Fact Required to Bring Appeal from PTAB Decision

On August 3, 2018, the U.S. Court of Appeals for the Federal Circuit dismissed an appeal from the USPTO Patent Trial and Appeal Board (PTAB) in JTEKT Corporation v. GKN Automotive Ltd. on the basis that the appellant lacked… more

Appeals, Article III, Estoppel, Injury-in-Fact, Intellectual Property Protection

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White House Issues Executive Orders on AI Action Plan

The White House recently announced America's AI Action Plan (the "Plan")—sweeping federal AI policy reforms prioritizing innovation and deregulation of the artificial intelligence ("AI") industry… more

Artificial Intelligence, Data Centers, Executive Orders, Export Controls, Infrastructure

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EU Court Limits Access to Information on Beneficial Owners of EU Companies

In Short - The Situation: The European Union's Fourth Anti-Money Laundering ("AML") Directive (Directive (EU) 2015/849 of May 20, 2015) granted broad access to information relating to the beneficial owners of companies with… more

Anti-Money Laundering, Beneficial Owner, Court of Justice of the European Union (CJEU), EU

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2023 U.S. Real Estate Round-Up: Effects of State ESG Laws on Commercial and Residential Building Owners

This 2023 U.S. Real Estate Round-Up provides key insights to commercial and residential building owners facing a flock of new state environmental, social, and governance ("ESG") laws proposed or taken effect in 2023, including… more

Climate Change, Commercial Property Owners, Energy Policy, Environmental Social & Governance (ESG), Greenhouse Gas Emissions

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CISA Releases Proposed Cyber Incident and Ransom Payment Reporting Rules to Implement CIRCIA

CISA's proposed rules will require organizations operating in U.S. critical infrastructure sectors to report cyber incidents within 72 hours and ransom payments within 24 hours… more

Covered Entities, Critical Infrastructure Sectors, Cyber Attacks, Cyber Incident Reporting, Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA)

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White House Issues Executive Orders on AI Action Plan

The White House recently announced America's AI Action Plan (the "Plan")—sweeping federal AI policy reforms prioritizing innovation and deregulation of the artificial intelligence ("AI") industry… more

Artificial Intelligence, Data Centers, Executive Orders, Export Controls, Infrastructure

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QFC Resolution Stay Regulations: Not Just for Derivatives

The Situation: Banking regulators in the United States have issued the so-called "Resolution Stay Regulations," which require "global, systemically-important banks" ("GSIBs") to amend a broad variety of "qualified financial… more

Derivatives, FDIA, FDIC, Financial Institutions, Global Systemically Important Banks (G-SIBs)

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Proposed California Legislation Aims to Phase Out Ultra-Processed Foods From School Meals

California Assembly Bill 1264 reflects continued state interest in restrictive legislation directed at the food and beverage industry and, in particular, food additives… more

California, Executive Orders, Food and Drug Administration (FDA), Food Safety, Legislative Agendas

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China Publishes Anti-Monopoly Guidelines on Intellectual Property

In August 2020, the Anti-Monopoly Bureau of China's State Administration for Market Regulation released four long-awaited sets of anti-monopoly guidelines addressing issues relating to leniency, commitments, the automobile… more

Administrative Authority, Anti-Competitive, Anti-Monopoly, Antitrust Provisions, China

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Fifth Circuit Clarifies FERC's Authority to Address Natural Gas Market Manipulation

The Fifth Circuit upheld a Federal Energy Regulatory Commission ("FERC") determination that an energy company unlawfully manipulated the natural gas market but rejected FERC's interpretation of its jurisdiction as overbroad… more

Energy Market, FERC, Natural Gas, Natural Gas Act, Oil & Gas

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More Flexibility for Dutch Employers in Reaching a Settlement Prior to Retirement

Effective January 1, 2021, Dutch employers have more leeway in reaching a termination settlement just before the retirement age without a punitive tax levy. Recently, the Dutch senate approved the Lump Sum Payment, Early… more

Employee Benefits, International Labor Laws, International Tax Issues, Retirement Plan

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Clintons Puts Its Cards on the Table: Part 26A Restructuring Plan Sanctioned

On 24 August 2023, the English courts sanctioned a Part 26A Restructuring Plan for Esquire Retail Limited, trading as Clintons, with distinctive treatment of business rates… more

Borrowers, Creditors, Direct Lending, Investment Management, Liquidity

See all updates »

Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

See all updates »

2021 Transactional Year in Review and 2022 Forecast: Emerging Developments in Corporate Governance, Impact of COVID-19, and Looking Ahead to 2022

The enduring COVID-19 pandemic continued to impact corporate governance practices and trends in 2021, while other notable developments, including a surge in shareholder proposals, changes to the proxy rules, and increased… more

Climate Change, Coronavirus/COVID-19, Corporate Governance, Environmental Social & Governance (ESG), Infectious Diseases

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Extraterritorial Reach of Italian/UK FDI Rules: Are In-Country Sales Sufficient Nexus?

In two recent decisions in the defense and national security sector, the Italian Foreign Direct Investment Authority ("FDI Authority") asserted jurisdiction in connection with two acquisitions of non-Italian companies that had… more

Defense Sector, Extraterritoriality Rules, Foreign Direct Investment, Government Agencies, Investors

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Final Climate Risk Guidance Ensures Supervisory Focus from Banking Agencies in 2024

The Situation: In October 2023, the Office of the Comptroller of the Currency ("OCC"), Federal Reserve System, and Federal Deposit Insurance Corporation ("FDIC," and the three agencies collectively, "Agencies") finalized joint… more

Banks, Climate Change, FDIC, Federal Reserve, Final Guidance

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Class Actions Worldview - A Study of Trends Around the Globe: A Compendium Of Jones Day’s Five-part Series Published In 2023 And 2024

Class action procedures vary greatly among jurisdictions. These differences include how developed the procedures are; the types of claims parties can bring; the parties that can represent classes; whether classes are structured… more

Class Action, Class Certification, Class Representatives, Collective Actions, Corporate Counsel

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APAC ESG Update | Spring Quarter 2024

This White Paper focuses on ESG developments through the Asia-Pacific (“APAC”) region since the start of 2024. For businesses present in the APAC region, as well as doing business there, it is imperative to be vigilant of the… more

Asia Pacific, Climate Action Plan, Climate Change, Environmental Protection Agency (EPA), Environmental Social & Governance (ESG)

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Australia Passes Landmark Scam Prevention Legislation

On 13 February 2025, the Australian Federal Parliament passed the Scams Prevention Bill 2025 (Cth) ("Bill"), the first of its kind worldwide… more

Australia, Banks, Cybersecurity, Data Privacy, Financial Institutions

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Directors' Duties—A European Overview: Financial Distress and COVID-19 - November 2020

A company or group's financial distress causes significant turmoil for its owners, directors, managers, employees and often its suppliers and other creditors. For directors in particular, there are significant responsibilities… more

Commercial Bankruptcy, Coronavirus/COVID-19, Corporate Governance, Corporate Restructuring, Debt Restructuring

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PTAB Allows Three Concurrent IPR Petitions for Unusual Patent Claims

Recently, the Patent Trial and Appeal Board (“the Board”) was persuaded to consider the merits of three out of seven concurrent petitions for an inter partes review of a single patent due to the patent’s complicated claiming… more

Apple, Claim Construction, Intellectual Property Litigation, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding

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EU AI Act: European Commission Publishes General-Purpose AI Code of Practice

The European Union's Artificial Intelligence Act ("AI Act") establishes a comprehensive, risk-based regulatory framework including provisions relating to general-purpose AI ("GPAI") models that apply as from 2 August 2025. In… more

Artificial Intelligence, Copyright, EU, European Commission, Innovative Technology

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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Capital Markets, EU, European Banking Authority (EBA), European Commission

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Innovative Insights: Legal Updates in Life Sciences | First Quarter 2025

Artificial intelligence is revolutionizing life science R&D (particularly in the realm of drug discovery) and challenging the traditional "human inventorship" requirement for U.S. patents. Recent guidance from the USPTO… more

Artificial Intelligence, Drug Pricing, Earn-Outs, Federal Funding, Foreign Aid

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The Climate Report | Third Quarter 2024

REGULATORY ISSUES & UPDATES - Update on Australia's New Climate-Related Financial Disclosure Regime - Australia's mandatory climate-related financial disclosure regime is inching closer to implementation after the proposed… more

Clean Air Act, Clean Energy, Climate Change, Disclosure Requirements, Enforcement Actions

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Product Regulation and Metrology Bill Receives Royal Assent

The Product Regulation and Metrology Act 2025 reforms the UK's post-Brexit product safety, metrology, and consumer protection frameworks… more

Consumer Protection Laws, Environmental Policies, EU, Information Sharing, Manufacturers

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California Air Resources Board Offers Direction as to Application of California Climate Disclosure Laws

On May 29, 2025, a virtual public workshop held by the California Air Resources Board ("CARB") offered direction on how it interprets certain elements of California's climate disclosure laws. While CARB has a July 1, 2025,… more

California, Cap-and-Trade, CARB, Carbon Emissions, Climate Change

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SEC Adopts Long-Awaited and Heavily Debated Private Fund Adviser Rules

The U.S. Securities and Exchange Commission ("SEC") adopted multiple rules that will impact private funds, governing documents, and side letters… more

Financial Services Industry, Investment Adviser, New Rules, Private Equity, Private Funds

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Flexibility and Targets: The Latest Developments in EU and UK Vehicle Emissions Policy

April 2025 saw regulatory developments on vehicle emissions standards in both the European Union ("EU") and the United Kingdom ("UK"). These changes will be of significant interest to vehicle manufacturers, as well as users and… more

Automotive Industry, Carbon Emissions, Electric Vehicles, Environmental Policies, EU

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Sikkelee Round Two: Federal Aviation Law vs. State Tort Law Rematch

The Situation: The Third Circuit decided Sikkelee II, a closely watched case involving preemption in the aviation context. The Outcome: A divided Third Circuit held, 2–1, that federal aviation law did not "conflict preempt"… more

Aviation Industry, Design Defects, Federal Aviation Administration (FAA), Manufacturers, Preemption

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Error! PTAB Denies Motion for Supplemental Information to Correct Inadvertent Omission

In Nanobebe US Inc. v. Mayborn (UK) Limited et al., the PTAB denied a Petitioner’s Motion to submit supplemental information, even though Petitioner argued the information had been inadvertently omitted in the original petition… more

Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation, Patent Ownership

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U.S. Supreme Court Encourages Federal Rule 7(a)(7) Replies—A Potential Boon for Defendants

The U.S. Supreme Court recently reminded district courts that they may use Federal Rule of Civil Procedure 7(a)(7)—a little-known rule—to screen out meritless complaints before discovery… more

Counterclaims, Defense Strategies, Discovery, Dismissals, Federal Rules of Civil Procedure

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The Climate Report | Fourth Quarter 2024

New ESG regulations are expected to have a significant impact on disclosure and governance obligations for EU and non-EU companies alike, including extensive sustainability reporting and due diligence requirements on… more

Carbon Emissions, Climate Action Plan, Climate Change, Coal Mines, Energy Policy

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Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

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Cases Pending Before September 1, 2024, Cannot Be Removed to Texas Business Court, Dallas Court Holds

In the first opinion to address the issue, the Texas Business Court determined that it lacks jurisdiction over cases pending before September 1, 2024, even if the cases otherwise meet the jurisdictional requirements of the… more

Business Court, Business Disputes, Business Litigation, Lack of Jurisdiction, Remand

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New York Legislature Targets Real Estate Lenders To Lower Rents

In an effort to protect small businesses from high rents, on June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents. As of this writing, this… more

Borrowers, Commercial Leases, Financial Services Industry, Landlords, Lenders

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Mexican Government Releases "Plan México"

The Mexican government recently launched the Mexico Plan (Plan México), a six-year strategy in collaboration with the federal government and the private sector intended to promote economic growth in Mexico… more

Automotive Industry, Biotechnology, Clean Energy, Economic Development, Energy Sector

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Qualified Small Business Stock Benefits Expanded in New Tax Bill

The One Big Beautiful Bill Act expands the qualified small business stock benefits available to founders and investors… more

Federal Budget, Internal Revenue Code (IRC), Investors, IRS, New Legislation

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The Climate Report | Third Quarter 2024

REGULATORY ISSUES & UPDATES - Update on Australia's New Climate-Related Financial Disclosure Regime - Australia's mandatory climate-related financial disclosure regime is inching closer to implementation after the proposed… more

Clean Air Act, Clean Energy, Climate Change, Disclosure Requirements, Enforcement Actions

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Dubai's Digital Assets Aspirations

In Short - The Situation: On 11 March 2022, Dubai Law No. 4 of 2022 Regulating Virtual Assets in the Emirate of Dubai (the "Law") came into effect. The Law establishes the foundation of a regulatory regime for virtual assets in… more

Blockchain, Cryptocurrency, Digital Assets, Dubai, Popular

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Brazilian Superior Court Greenlights the Seizure of Cryptocurrency in Enforcement Proceedings

In a recent decision, the Brazilian Superior Court of Justice ("STJ") held that cryptocurrency is a financial asset with "economic value" and subject to seizure in enforcement proceedings… more

Appeals, Appellate Courts, Asset Seizure, Brazil, Creditors

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PTAB Rescinds Discretionary Denial Memorandum

On Friday, the USPTO rescinded its June 21, 2022, guidance memorandum entitled “Interim Procedure for Discretionary Denials in AIA Post-Grant Proceedings with Parallel District Court Litigation.”  That memorandum discussed… more

America Invents Act, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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Clarifying Cosmetics Reform: FDA Issues Draft Guidance on Registration and Product Listings

Heralding the significant changes coming to the U.S. cosmetics industry starting in 2023, the U.S. Food and Drug Administration ("FDA") has issued draft guidance to companies regarding cosmetic facility registrations and product… more

Comment Period, Cosmetics, Draft Guidance, Food and Drug Administration (FDA), Listing Rules

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Orders to Preserve Evidence (“Saisies”) at the Unified Patent Court: Two-Year Roundup and Early Insights

Evidence is a key battleground in virtually all patent litigation cases. As a Court designed to combine the best and most efficient features of the main EU national patent litigation systems, the Unified Patent Court (“UPC”)… more

Data Preservation, Dawn Raids, Discovery, Duty to Preserve, EU

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New York Legislature Targets Real Estate Lenders To Lower Rents

In an effort to protect small businesses from high rents, on June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents. As of this writing, this… more

Borrowers, Commercial Leases, Financial Services Industry, Landlords, Lenders

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International Bar Association Releases Updated Guidelines on Conflicts of Interest

The Situation: In February 2024, the International Bar Association ("IBA") updated its Guidelines on Conflicts of Interest in International Arbitration ("Guidelines"). The Guidelines provide detailed guidance for arbitrators and… more

Arbitrators, Conflicts of Interest, Disclosure Requirements, Failure To Disclose, Global Disputes

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Civil Justice Council Publishes Report on Civil Enforcement

The Civil Justice Council ("CJC") has issued a new report calling for an overhaul of the enforcement regime in England & Wales… more

Debt, Debt Collection, Enforcement Actions, Judgment Creditors, UK

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It's Confirmed: 2020 Proxy Advisor Regulations Exceed the SEC's Authority

On July 1, 2025, a federal court of appeals held that the SEC's regulation of proxy advice exceeded its authority and the SEC's 2020 proxy advisor regulations are not valid. The court closely tracks the district court's… more

Appeals, Corporate Governance, Judicial Review, Lack of Authority, New Legislation

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The EU Pharma Incentives Review—Two Studies and a Legislative Proposal Released

The Situation: On May 28 and 29, 2018, the European Commission ("Commission") published two studies aimed at examining the economic and legal impacts of the European Union's regime on Supplementary Protection Certificates… more

EU, Incentives, Intellectual Property Protection, Medical Devices, Patents

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Federal Court Relies on PTAB Findings in Denying Section 101 Summary Judgment Motion

Despite the prohibition on patenting “abstract ideas” and the tendency of computer software claims to fall into that category, claims directed at improving faulty software systems may still be patentable if they encompass an… more

Abstract Ideas, CLS Bank v Alice Corp, Computer-Related Inventions, Inter Partes Review (IPR) Proceeding, Motion for Summary Judgment

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U.S. District Court Upholds Two Arbitral Awards Against Lima

The recent District of Columbia District Court's decision against Lima demonstrates deference to arbitral tribunals… more

Arbitration, Arbitration Agreements, Arbitration Awards, Business Disputes, Federal Arbitration Act

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Shock and Law: UK Government's Surprise Proposal to Ban Upward-Only Rent Reviews

For years, upward-only rent reviews have been a cornerstone of the UK commercial property market, offering landlords and investors a reassuring degree of income security and predictability… more

Commercial Leases, Commercial Property Owners, Investors, Landlord and Tenant Acts, Landlords

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The Climate Report | Fourth Quarter 2022

California Enacts Sweeping Climate Measures - On September 16, 2022, California Governor Gavin Newsom signed a broad legislative package into law that aims to aggressively address climate change. The material aspects of each… more

Climate Change, Electricity, Energy Sector, Natural Gas, Nuclear Power

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The Climate Report | Fourth Quarter 2024

New ESG regulations are expected to have a significant impact on disclosure and governance obligations for EU and non-EU companies alike, including extensive sustainability reporting and due diligence requirements on… more

Carbon Emissions, Climate Action Plan, Climate Change, Coal Mines, Energy Policy

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EU Anti-SLAPP Directive: Public Participants May Claim Compensation for Strategic Litigation Outside EU

The European Union's Directive 2024/1069 (the "Directive") aims to protect individuals and organizations engaged in public participation (such as NGOs, journalists and academics) from strategic lawsuits against public… more

Anti-SLAPP, Damages, EU, EU Directive, International Litigation

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Business Restructuring Review Vol. 24, No. 2 | March–April 2025

Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision… more

Assignments, Bankruptcy Court, Chapter 11, Chapter 15, Comity

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DOJ Criminal Division Announces Priority Enforcement Areas and Publishes Revised Enforcement Guidance

On May 12, 2025, the Department of Justice Criminal Division announced significant changes to its corporate white-collar criminal enforcement priorities. In line with the Trump administration’s recalibration toward prioritizing… more

Corporate Governance, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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Germany’s "Corporate Sanctions Act": The Path to Corporate Criminal Liability

The Situation: On August 22, 2019, the German Ministry of Justice and Consumer Protection presented the draft Corporate Sanctions Act ("CSA"), a bill that would establish corporate criminal liability in Germany. The… more

Attorney-Client Privilege, Compliance Management Systems, Corporate Counsel, Corporate Crimes, Corporate Investigations

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EU Court Holds Back Expansion of Antitrust Reviews to Non-Reportable Transactions

The Situation: To address a perceived enforcement gap, the European Commission ("EC") has issued guidelines expanding the types of non-reportable transactions subject to its "upward referral mechanism," which permits EU National… more

Acquisition Agreements, Antitrust Provisions, Competition, Corporate Sales Transactions, EU

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Unraveling the Forced Labor Stitched Into the Textile Industry

The Department of Homeland Security ("DHS") recently announced an enhanced strategy to combat illicit trade in the textile industry, including violations of the Uyghur Forced Labor Prevention Act ("UFLPA")… more

Customs and Border Protection, Department of Homeland Security (DHS), Forced Labor, Supply Chain, Textiles

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ISDA Publishes Financial Power Purchase Agreement (FPPA) Template

Renewable power purchase agreements that do not require the physical delivery of energy between parties ("Financial Power Purchase Agreements" or "FPPAs") have been on the rise across the globe, leading many market participants… more

Derivatives, Energy Policy, ISDA, Power Purchase Agreements, Swaps

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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Affiliates (Currently) Off the Hook: Supreme Court Vacates $43M Trademark Infringement Award

The Supreme Court vacates a decision treating a company and its affiliates as "one and the same" for purposes of disgorging profits for trademark infringement under the Lanham Act, but leaves many questions unaddressed… more

Affiliates, Corporate Governance, Damages, Dewberry Group Inc v Dewberry Engineers Inc, Disgorgement

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CJEU Ruling: Impact of Trademarks on Joint Liability of Suppliers and Producers

The Court of Justice of the European Union ("CJEU") has issued a ruling on the joint liability of suppliers and producers in the context of product liability, with notable implications for the use and impact of trademarks in… more

EU, Liability, Product Defects, Risk Management, Supply Chain

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The Brexit Clock Has Started—What Happens Next?

The United Kingdom and the remaining European Union Member States ("EU-27") will negotiate the terms of the UK's withdrawal—and likely its future relationship with the EU—over the course of the next two years. European Council… more

Article 50 Treaty of the EU, Budgets, Employee Benefits, EU, EU Single Market

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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Corporate Real Estate Transactions in the UK: Beware Remediation Contribution Orders

Remediation Contribution Orders require developers, landlords, or their associated entities to contribute to the cost of remediating building safety risks in England and Wales. Since the jurisdiction to make this order was… more

Beneficial Owner, Landlords, Real Estate Transactions, Remediation, Statutory Requirements

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New Year, New Illinois Employment Laws

New legislation in Illinois introduces several changes, effective January 1, 2025, that will affect businesses with Illinois employees… more

Anti-Discrimination Policies, Employer Liability Issues, Equal Pay, Human Rights, Illinois

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Recent Evolution of the European Regulatory Framework on Greenwashing

Aiming to enable consumers to make informed purchasing decisions and thus "contribute to more sustainable consumption patterns," the European Union adopted, on February 28, 2024, the Unfair Commercial Practices Directive to… more

Climate Change, Environmental Policies, EU, Greenwashing, Sustainability

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An Update on Noncompete Legislation Following Passage of Massachusetts' Non-Compete Law

In October 2018, businesses across the country braced for the effects of a noncompete law that was enacted in Massachusetts. The "garden leave" clause in Massachusetts' noncompete law dictated that during the period in which a… more

Confidential Information, Contract Terms, Employer Liability Issues, Employment Contract, Garden Leave

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Two Week Deadline for PTAB to Issue Notice of Filing Date Accorded

On July 18, 2025, Scott R. Boalick, Chief Administrative Patent Judge for the Patent Trials and Appeals Board (“PTAB”), announced that, absent good cause, the PTAB will issue a Notice of Filing Date Accorded within 14 days from… more

Denial of Institution, Filing Deadlines, Intellectual Property Litigation, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding

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The Adler Aftermath: From Colombia to Germany, Junior Creditors Crammed and Compromised

Following the seminal Adler judgment, the English Court has now ruled on a further two contested restructuring plans ("RPs"). These two judgments provide important commentary relevant to all parties considering or affected by a… more

Chapter 11, Creditors, Debt, Debtors, Financial Services Industry

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New White House Report Outlines U.S. Policy for Digital Assets

President Trump's "Working Group on Digital Asset Markets" recently released a report with a strategic roadmap to advance American leadership in digital financial technology… more

Anti-Money Laundering, Bank Secrecy Act, Blockchain, Cryptoassets, Cryptocurrency

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A Rollback on Referral to the EBA Regarding Adaptation of Description

The European Patent Office ("EPO") currently requires applicants to adapt descriptions to allowable claims. This practice is risky, expensive, and not clearly grounded in the law… more

EU, European Patent Convention, European Patent Office, Intellectual Property Protection, Patents

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Mapping Out Rental Controls Across Europe

The term "Rent Controls" refers to measures designed to restrict the amount of rent that a landlord can charge a tenant for residential premises. Rent control measures appear in various forms across Europe, ranging from strict… more

Affordable Housing, Coronavirus/COVID-19, Eviction, Landlords, Rent

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New Proposed Regulations Address Spin-Off Transactions

These proposed regulations applicable to tax-free spin-offs would impose a range of new substantive requirements and greatly expand the information that must be reported to the Internal Revenue Service ("IRS") by taxpayers who… more

Corporate Taxes, Filing Requirements, Internal Revenue Code (IRC), IRS, NPRM

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The Economic Crime and Corporate Transparency Act: A New Era for Corporate Prosecutions?

The Situation: After a year of debate, the Economic Crime and Corporate Transparency Act (the "Act") was passed into law on 26 October 2023… more

Corporate Crimes, Corporate Entities, Corporate Governance, Corporate Transparency Act, Criminal Liability

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Proposed IRS Regulations on Tax Credits for Renewable-Energy Investments Include Wage and Apprenticeship Requirements

In Short - The Background: The Inflation Reduction Act provides for robust tax incentives on qualifying renewable-energy construction projects. In order to claim the full amount of such tax credits on qualifying projects,… more

Apprenticeships, Clean Energy, Comment Period, Construction Workers, Davis-Bacon Act

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DOJ Criminal Division Announces Priority Enforcement Areas and Publishes Revised Enforcement Guidance

On May 12, 2025, the Department of Justice Criminal Division announced significant changes to its corporate white-collar criminal enforcement priorities. In line with the Trump administration’s recalibration toward prioritizing… more

Corporate Governance, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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Earnouts in M&A Transactions: Recent Decisions From Delaware

In 2024, Delaware courts issued multiple instructive decisions on earnout provisions in life sciences M&A transactions… more

Acquisition Agreements, Breach of Contract, Business Disputes, Buyers, Commercial Litigation

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The UK, France, and Switzerland Form New Anti-Corruption Enforcement Task Force

On March 20, 2025, the UK's Serious Fraud Office ("SFO"), France's National Financial Prosecutor's Office ("PNF"), and the Office of the Attorney General of Switzerland ("OAG") announced the creation of a new task force to… more

Anti-Corruption, Bribery, Corporate Counsel, Corruption, Enforcement Actions

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Business Restructuring Review Vol. 24, No. 4 | July–August 2025

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once the… more

Appeals, Bankruptcy Code, Bankruptcy Court, Borrowers, Chapter 11

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Mitigating Risk From the Designation of Cartels as FTOs and SDGTs

The Situation: After President Trump issued an Executive Order ("EO") that creates a process to designate international cartels and other organizations as "Foreign Terrorist Organizations" ("FTOs") or "Specially Designated… more

Anti-Money Laundering, Cartels, Department of Justice (DOJ), Economic Sanctions, Enforcement Actions

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New Guidance from the Treasury Department on 1% Corporate Stock Buyback Tax

On April 9, 2024, the U.S. Treasury Department ("Treasury") issued proposed regulations and reporting requirements providing further guidance on the non-deductible 1% excise tax that was enacted on August 16, 2022 (as Section… more

Cross-Border, Cross-Border Transactions, Excise Tax, Internal Revenue Code (IRC), IRS

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Supreme Court Holds Proof of Retaliatory Intent Not Required for Sarbanes-Oxley Whistleblower Claims

The Background: In August 2022, the United States Court of Appeals for the Second Circuit held in Murray v. UBS Securities, LLC., et al. ("Murray") that an employee suing his employer under the anti-retaliation provisions of the… more

Adverse Employment Action, Anti-Retaliation Provisions, Burden of Proof, Certiorari, Employees

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Getting Ahead of the 2022 Proxy Season: Sustainability

ESG/DEI will be the leading theme in the upcoming proxy season by a wide margin because of a confluence of events affecting society generally: acceptance in popular and financial media of climate change as an overriding global… more

Corporate Governance, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG), Proxy Season, Publicly-Traded Companies

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Unified Patent Court: First Ruling on Equivalent Infringement

The doctrine of equivalents is a staple patent law principle, addressing the tension between providing fair protection to innovative ideas and ensuring legal certainty for third parties. However, like most patent laws, the… more

Appeals, Corporate Counsel, Doctrine of Equivalents, EU, European Patent Convention

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D.C. Circuit Decision Underscores Jurisdictional Limits of FERC Project Reviews Under NEPA

On January 7, 2025, the U.S. Court of Appeals for the D.C. Circuit issued a decision—Citizens Action Coalition of Indiana, Inc. v. Federal Energy Regulatory Commission, 125 F.4th 229 (2025) ("Citizens Action")—affirming… more

Appeals, Energy Projects, Environmental Claims, Environmental Liability, FERC

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Crypto Exchange-Traded Products: Navigating the Intersection of Crypto and Securities

Direct ownership of crypto-assets or mere exposure to the value of crypto-assets is an investment decision, with both investment methods requiring specific approaches to mitigate and manage risks effectively… more

Cryptoassets, EU, Exchange-Traded Products, Financial Conduct Authority (FCA), Financial Markets

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Rising Fraudulent Claims Submitted to Class Action Settlement Funds Heighten Settlement Risk

Consumers frequently receive only a paltry fraction of class action settlement funds, which are instead doled out to plaintiffs’ lawyers, cy pres recipients, and administrators. Now this problem is compounded by a recent… more

Class Action, Class Action Settlement, Class Members, Cy Pres Funds, Fund Distribution

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D.C. Circuit Allows Challenge to Counsel's Authority to Enforce International Arbitration Award

The D.C. Circuit has approved a backdoor challenge to the validity of an international arbitration award, finding that a challenge to counsel's authority to enforce an award can never be forfeited… more

Appeals, Arbitration, Arbitration Agreements, Arbitration Awards, Enforcement Authority

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SEC v. SolarWinds: Court Rejects SEC Authority Over Cybersecurity Controls and Most Alleged Disclosure Violations

The U.S. District Court for the Southern District of New York dismissed the majority of claims that the Security and Exchange Commission ("SEC") asserted against SolarWinds, including claims that the company's alleged… more

Cyber Incident Reporting, Cybersecurity, Data Protection, Disclosure Requirements, Publicly-Traded Companies

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EU and U.S. Regulatory Sandboxes: Groundbreaking Tools for Fostering Innovation and Shaping Applicable Regulations

In Short - The Situation: Regulatory "sandboxes" are trending. They represent a unique approach to regulation that permits selected companies to test and experiment with new and innovative products and services… more

Blockchain, Cryptocurrency, Distributed Ledger Technology (DLT), Financial Services Industry, Innovation

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Spain Approves New Foreign Direct Investment Regulation

In Short - The Development: The Spanish government adopted a new foreign direct investment ("FDI") implementing regulation ("Regulation") that clarifies key concepts of the existing law, such as investment, investors, and… more

EU, Foreign Direct Investment, Foreign Investment, New Regulations, Spain

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Federal Agencies Coordinate Action Against Celsius for Fraud and Manipulation

In Short - The Situation: In parallel federal actions, the Department of Justice ("DOJ"), Securities and Exchange Commission ("SEC"), Commodity Futures Trading Commission ("CFTC"), and Federal Trade Commission ("FTC")… more

CFTC, Cryptoassets, Cryptocurrency, Decentralized Finance (DeFi), Department of Justice (DOJ)

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SEC's and Private Litigants' Continued Focus on "AI Washing"

On September 4, 2024, U.S. Securities and Exchange Commission ("SEC") Chair Gary Gensler reiterated concerns about artificial intelligence-related ("AI") disclosures and the need for companies to communicate accurately about… more

Artificial Intelligence, Boilerplate Language, Broker-Dealer, Class Action, Disclosure Requirements

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UK Government Taking Longer With FDI Reviews, but Clearance Rates Higher

The Situation: On September 10, 2024, the UK government published the third National Security and Investment Act 2021 Annual Report ("2023/2024 Annual Report"), revealing longer processing times for foreign direct investment… more

Acquisition Agreements, Corporate Sales Transactions, Foreign Direct Investment, Foreign Investment, Foreign Jurisdictions

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I Consent: New Illinois Law Expands General Jurisdiction for Foreign Corporations Doing Business in Illinois

On August 15, 2025, Governor Pritzker signed Senate Bill 328 into law, amending Illinois's long-arm statute, Section 2-209(b), and the Illinois Business Corporation Act of 1983… more

Business Litigation, Constitutional Challenges, Environmental Litigation, Foreign Corporations, General Jurisdiction

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The EU Green Bonds Regulation Is (Almost) Live

In a watershed moment for green and sustainability-linked bonds, on November 30, 2023, the Regulation on European Green Bonds ("EuGB Regulation") was published in the Official Journal of the European Union ("EU")… more

Climate Change, Environmental Social & Governance (ESG), EU, Green Bonds, Sustainability

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PHMSA Issues Proposed Rule Seeking to Impose Enhanced Safety and Operational Requirements on Carbon Dioxide Pipelines

On January 10, 2025, the Pipeline and Hazardous Materials Safety Administration ("PHMSA") issued a proposed rule setting forth revisions to the federal Pipeline Safety Regulations ("PSR") (49 C.F.R. Parts 190-99) to include… more

Carbon Emissions, Clean Energy, Climate Change, Environmental Policies, Infrastructure

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Drop a Dime, Get a Dollar: DOJ's Antitrust Division and U.S. Postal Service Unveil Whistleblower Program

On July 8, 2025, the Department of Justice ("DOJ") and the U.S. Postal Service ("USPS") announced a Whistleblower Rewards Program that will provide financial incentives to individuals who report antitrust crimes and related… more

Antitrust Provisions, Antitrust Violations, Competition, Criminal Convictions, Department of Justice (DOJ)

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Landmark Enforcement Under U.S. CPSA Leads to Sentencing of Corporate Executives for Failure to Report Product Hazards

In June 2025, two former executives were each sentenced to more than three years in prison for conspiracy and failure to report hazardous products to the U.S. Consumer Product Safety Commission ("CPSC"), marking the first… more

Consumer Product Safety Act (CPSA), Consumer Product Safety Commission (CPSC), Corporate Counsel, Corporate Executives, Criminal Prosecution

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FTC Public Comment Request Signals Continued Increase in State AGs Enforcement Efforts

On June 7, the Federal Trade Commission ("FTC" or "Commission") announced a request for public comments ("Request") regarding how it can enhance collaboration efforts with state attorneys general ("AGs") to more effectively… more

Federal Trade Commission (FTC), Fraud, Public Comment, Scams, State Attorneys General

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Australia Publishes Draft Antitrust Guidance on Sustainability Collaborations

The Development: Recently, the Australian Competition and Consumer Commission ("ACCC") published draft guidelines designed to assist businesses to understand how they can collaborate on sustainability initiatives without… more

Antitrust Provisions, Australia, Australian Competition and Consumer Commission (ACCC), Collaboration, Competition

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Two U.S. Courts Address Fair Use in Generative AI Training Cases

Federal courts continue to address whether training artificial intelligence ("AI") models on copyrighted materials without a license constitutes copyright infringement… more

Algorithms, Artificial Intelligence, Books, Copyright, Copyright Infringement

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Draft French Finance Bill for 2019 Reveals Significant Tax Amendments

The Situation: The first draft of the French government's finance bill for 2019 contains several significant amendments likely to affect key French tax regimes, as well as past and current transactions. The Development: The… more

Corporate Taxes, EBITDA, France, Income Taxes, IP License

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Agent Actions Don't Equal Personal Jurisdiction in Telephone Consumer Protection Act Case

The Situation: A federal court in California recently considered whether it had jurisdiction over defendants in a class action under the Telephone Consumer Protection Act ("TCPA") based on the presence in California of the… more

Class Action, Jurisdiction, Multidistrict Litigation, Personal Jurisdiction, Putative Class Actions

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Blurring the Line Between the Dry and Wet Lab: Joint Inventorship in AI-Assisted Life Science Inventions

In 2024, not one but two Nobel Prizes (in Chemistry and Physics) were awarded to researchers for their work in artificial intelligence ("AI"). Particularly noteworthy for the life science community is the Nobel Prize in… more

Artificial Intelligence, Healthcare, Intellectual Property Protection, Inventions, Inventors

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Companies Join the Fray in the Battle of the Proxy Advisors v. Texas

On June 20, 2025, Texas passed SB 2337, a first-of-its-kind regulation of proxy advisors such as ISS and Glass Lewis. SB 2337 requires proxy advisors to, among other things, disclose when their recommendations are based, in… more

Commercial Speech, Constitutional Challenges, Corporate Governance, Disclosure Requirements, Diversity and Inclusion Standards (D&I)

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Wave of Climate-Related Actions by First Nations Peoples Considered Precedent-Setting

Three recent actions highlight an emerging trend of First Nations peoples bringing climate-related claims. Recent decisions in two of these actions have set significant precedents both in Australia and internationally. The third… more

Australia, Climate Change, First Nations, Human Rights, Popular

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Cryptocurrencies and Risk Under the Antiterrorism Act

In Short - The Situation: Terrorists may be increasingly turning to cryptocurrencies to evade sanctions and finance terrorist acts, as recent prosecutions and reports suggest. Under the Antiterrorism Act ("ATA"), as amended… more

AML/CFT, Antiterrorism Act, Cryptocurrency, Decentralized Finance (DeFi), Department of Justice (DOJ)

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EMIR 3 Published in the Official Journal of the European Union

EMIR 3, published in the Official Journal of the EU on December 4, 2024, introduces substantive changes to the existing clearing framework and margining exemptions under the EMIR Regulation… more

EMIR, EU, European Securities and Markets Authority (ESMA), Financial Markets, Securities Regulation

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Italy Enacts New Anti-Raider Rules to Protect Strategic Assets

The Situation: Recent foreign investments in Italian blue chips led the Italian government to intervene to protect strategic assets. The Result: Decree 148/2017 introduced new disclosure requirements regarding stakebuilding… more

Acquisitions, Anti-Raiding, Board of Directors, CONSOB, Corporate Governance

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U.S. Supreme Court Paves the Way for Challenging Agencies' Structure in Federal District Court

The U.S. Supreme Court holds that district courts have jurisdiction to hear constitutional challenges to the structure of Federal Trade Commission ("FTC") and Securities and Exchange Commission ("SEC") administrative proceedings… more

Administrative Proceedings, Constitutional Challenges, Federal Trade Commission (FTC), FTC Act, Securities and Exchange Commission (SEC)

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FTC Imposes Record Fine on Texas Energy Companies for HSR "Gun Jumping"

During antitrust review between M&A signing and closing, HSR rules restrict an acquiror from beginning to control the target's business… more

Acquisition Agreements, Antitrust Provisions, Antitrust Violations, Competition, Enforcement Actions

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The CFTC Proposes Expansive Business and Governance Rules for Registered Derivatives Markets

The Commodity Futures Trading Commission ("CFTC") recently proposed new and modified conflicts of interest, fitness, and governance regulations for swap execution facilities ("SEFs") and designated contract markets ("DCMs")… more

CFTC, Commodity Futures Modernization Act of 2000 (CFMA), Corporate Governance, Derivatives, Designated Contract Markets (DCMs)

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SEC Rebuked for Failing to Explain Why It Declined to Regulate a Financial Product

The SEC's loss highlights a bigger problem with legislation that calls for sharing jurisdiction with the CFTC over financial products… more

CFTC, Cryptocurrency, Digital Assets, Financial Products, Jurisdiction

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Georgia Limits Liability for Pesticide Manufacturers

This week, Georgia's governor signed a new pesticide labeling and liability act (SB 144) ("Act"), amending state law to limit the scope of pesticide manufacturer liability for failure to warn and aligning the state standards… more

Agribusiness, Environmental Policies, Environmental Protection Agency (EPA), Failure To Warn, FIFRA

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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New EPA Positions Reflected in Sweeping Rollback of Greenhouse Gas Regulation

The Environmental Protection Agency ("EPA") proposed a rule that would rescind the 2009 Endangerment Finding, citing a new interpretation of the relevant section in the Clean Air Act ("CAA"), a lack of clear congressional intent… more

Administrative Procedure Act, Clean Air Act, Climate Change, Constitutional Challenges, Endangerment Finding

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PTAB Reconciles Its Prior §101 Ruling With CBM Institution

Following guidance from the Federal Circuit, the PTAB has vacated a previous Board decision granting Covered Business Method review in Apple, Inc. v. Universal Secure Registry LLC (P.T.A.B. Dec. 3, 2018). The PTAB’s decision… more

Abstract Ideas, Apple, Covered Business Method Patents, Covered Business Method Proceedings, Inventions

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Innovative Insights: Legal Updates in Life Sciences | First Quarter 2025

Artificial intelligence is revolutionizing life science R&D (particularly in the realm of drug discovery) and challenging the traditional "human inventorship" requirement for U.S. patents. Recent guidance from the USPTO… more

Artificial Intelligence, Drug Pricing, Earn-Outs, Federal Funding, Foreign Aid

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Business Restructuring Review Vol. 23 No. 3 | May-June 2024

In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than state… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 13, Chapter 15

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The CFTC is Off to a Fast Start Under Acting Chairman Pham

In a break from the typical acting agency chairman, Acting Commodity Futures Trading Commission ("CFTC") Chairman Caroline Pham has taken several significant actions, signaled several more, and set the agency on a path to still… more

Administrative Procedure Act, CFTC, Comment Period, Commodities, Digital Assets

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CRISPR Technology in the Agricultural Industry: Patent and Regulatory Updates

The ability to edit eukaryotic DNA entails an almost limitless ability to alter the genetic makeup of the plants that become our food. Recently, scientific attention has been directed to applying a class of new gene-editing… more

CRISPR, GMO, Patent Applications, Patents

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Civil Justice Council Publishes Report on Civil Enforcement

The Civil Justice Council ("CJC") has issued a new report calling for an overhaul of the enforcement regime in England & Wales… more

Debt, Debt Collection, Enforcement Actions, Judgment Creditors, UK

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Crypto Assets, CASPS, and AML/CFT Compliance: The New European Regulatory Landscape Under MiCA and AMLR

The rise of crypto assets and decentralized finance has challenged traditional regulatory frameworks, particularly in the area of anti-money laundering and countering the financing of terrorism ("AML/CFT")… more

AML/CFT, Anti-Money Laundering, Cooperative Compliance Regime, Cryptoassets, Cryptocurrency

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Brazilian Superior Court Greenlights the Seizure of Cryptocurrency in Enforcement Proceedings

In a recent decision, the Brazilian Superior Court of Justice ("STJ") held that cryptocurrency is a financial asset with "economic value" and subject to seizure in enforcement proceedings… more

Appeals, Appellate Courts, Asset Seizure, Brazil, Creditors

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New York Legislature Targets Real Estate Lenders To Lower Rents

In an effort to protect small businesses from high rents, on June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents. As of this writing, this… more

Borrowers, Commercial Leases, Financial Services Industry, Landlords, Lenders

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The Days are Numbered for the EPO's 10-Day Rule

Multiple reports reliably suggest that the European Patent Office ("EPO") will end the "10-day rule" for calculating deadlines on November 1, 2023. Thereafter, deadlines will be simply calculated on the basis of the date printed… more

EU, European Patent Office, Intellectual Property Protection, Patents

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A Review of 2024 Labor & Employment Legislation in California

The 2024 California legislative session saw the passage of a number of new and important labor and employment laws… more

California, Employee Benefits, Employees, Employer Liability Issues, Employment Policies

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Federal Circuit: RPI Arguments Must First Be Raised at the PTAB

Apple Inc., et. al v. Gesture Technology Partners, LLC (March 4, 2025) (Moore (Chief Judge), Prost and Stoll) (on appeal from the Patent Trial and Appeal Board) [WAIVER; OBVIOUSNESS] … more

Appeals, Apple, Claim Construction, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Pay Equity and Transparency: Expanding Obligations for U.S. Employers with EU Operations

The Situation: While U.S. states continue to legislate pay equity and transparency obligations, significant changes are on the horizon in the European Union that will impact U.S. companies with sizeable operations there. The EU… more

Disclosure Requirements, Due Diligence, Employees, Employer Liability Issues, Equal Pay

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Landmark Enforcement Under U.S. CPSA Leads to Sentencing of Corporate Executives for Failure to Report Product Hazards

In June 2025, two former executives were each sentenced to more than three years in prison for conspiracy and failure to report hazardous products to the U.S. Consumer Product Safety Commission ("CPSC"), marking the first… more

Consumer Product Safety Act (CPSA), Consumer Product Safety Commission (CPSC), Corporate Counsel, Corporate Executives, Criminal Prosecution

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Inventor Testimony of Reduction Date Leads to Denial

The Patent Trial and Appeal Board (PTAB) denied institution of an inter partes review (IPR) brought by Par-Kan Company, LLC against Unverferth Manufacturing Company regarding U.S. Patent No. 8,967,940 (“the ‘940 patent”)… more

Evidence, Inter Partes Review (IPR) Proceeding, Inventions, Inventors, Obviousness

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UK Government Taking Longer With FDI Reviews, but Clearance Rates Higher

The Situation: On September 10, 2024, the UK government published the third National Security and Investment Act 2021 Annual Report ("2023/2024 Annual Report"), revealing longer processing times for foreign direct investment… more

Acquisition Agreements, Corporate Sales Transactions, Foreign Direct Investment, Foreign Investment, Foreign Jurisdictions

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GDPR's Potential Fines and Other Exposures Raise Cyber Insurance Coverage Questions

The Situation: The European Union's General Data Protection Regulation ("GDPR") has raised questions regarding the scope of coverage and protection afforded by current cyber policies, especially with respect to potential GDPR… more

Cyber Insurance, Cybersecurity, Data Protection, EU, General Data Protection Regulation (GDPR)

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Carbon Capture Utilization and Storage in the United States

Jones Day released a White Paper titled, “CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making.” This White Paper is a continuation on that topic, covering carbon capture… more

Carbon Capture and Sequestration, Climate Change, Department of Energy (DOE), Energy Policy, Energy Projects

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Vital Signs: Digital Health Law Update | Summer 2021

NOTE FROM THE EDITORS - The "dog days of summer" certainly provide a welcome, if brief, break in the extremely rapid pace of statutory, regulatory, and various other policy and industry efforts applicable to digital health… more

Artificial Intelligence, Clinical Trials, Connected Items, Coronavirus/COVID-19, Cybersecurity

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Fintech: Proposed Banking Cyber-Incident Notification Rules Could Apply to You, Too

The Situation: As we advised in our recent Commentary, federal banking regulators have proposed rules requiring a banking organization to provide its primary federal regulator with prompt notification of any "computer-security… more

Bank Service Company Act, Cyber Attacks, Cybersecurity, Financial Institutions, Financial Services Industry

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Georgia Enacts New Laws Relating to Paid Sick Leave and Pay for Schedule Changes

On May 8, 2017, Georgia Governor Nathan Deal signed two employment-related laws, both of which become effective on July 1, 2017. First, he signed the employee-friendly Act 203 (S.B. 201). Under the new law, if an employer… more

Governor Deal, Local Ordinance, New Legislation, On-Call Employees, Paid Family Leave Law

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Shock and Law: UK Government's Surprise Proposal to Ban Upward-Only Rent Reviews

For years, upward-only rent reviews have been a cornerstone of the UK commercial property market, offering landlords and investors a reassuring degree of income security and predictability… more

Commercial Leases, Commercial Property Owners, Investors, Landlord and Tenant Acts, Landlords

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Spanish Fund and Venture Capital Regulation Adapts to European Regulations

In Short - The Situation: Spain's new Law 18/2022 regarding the creation and growth of companies (the so-called "Create and Grow Law") will facilitate investment in start-ups and includes improvements in foreign financing… more

Investment, Investment Funds, Investors, Private Equity, Startups

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French Anticorruption Agency Publishes 2022 Annual Activity Report

On July 18, 2023, the French Anticorruption Agency ("FAA") published its 2022 annual activity report. The report detailed key figures related to the inspections carried out by the agency, as well as the lessons to be learned… more

Anti-Corruption, Corruption, France, Whistleblowers

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Mexico Enacts General Rules for the Investment Project Registry

The Ministry of Economy issues the provisions to regulate the operation of the Single Registry of Investment Projects (the "Rules")… more

Foreign Investment, Investment Opportunities, Mexico, Regulatory Requirements

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Climate Litigation in Australia Remains Active

Australia continues to be a highly active jurisdiction for climate-related lawsuits. Since our last update in August 2023, we have seen a steady stream of suits commenced against corporations and government bodies in relation to… more

ASIC, Australia, Climate Action Plan, Climate Change, Environmental Claims

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EU AI Act: European Commission Publishes General-Purpose AI Code of Practice

The European Union's Artificial Intelligence Act ("AI Act") establishes a comprehensive, risk-based regulatory framework including provisions relating to general-purpose AI ("GPAI") models that apply as from 2 August 2025. In… more

Artificial Intelligence, Copyright, EU, European Commission, Innovative Technology

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Saudi Council of Ministers Approves 100% Foreign Ownership of Engineering Consultancies

Currently, Saudi Arabian law permits foreign direct investment in engineering consultancies operating in the private sector only through a professional company licensed by the Ministry of Commerce and Industry ("MOCI")… more

Engineering, Foreign Corporations, Foreign Direct Investment, Foreign Investment, Foreign Subsidiaries

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New Export Control Rule Regulates Global Diffusion of Artificial Intelligence

The U.S. Commerce Department's Bureau of Industry and Security ("BIS") issued a rule establishing a framework to prevent U.S. adversaries from accessing the most advanced artificial intelligence ("AI") systems while preserving… more

Artificial Intelligence, Bureau of Industry and Security (BIS), Cybersecurity, Export Controls, Innovative Technology

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In Dawson v. Steager, U.S. Supreme Court Bars Discriminatory Taxation of Federal Employees

West Virginia had exempted from taxation the state retirement benefits paid to certain state law enforcement retirees while not exempting similarly situated federal law enforcement retirees. The United States Supreme Court,… more

Dawson v Steager, Discrimination, Federal Employees, Intergovernmental Tax Immunity Doctrine, Law Enforcement

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Federal Banking Agencies Propose Long-Term Debt Requirements for Large Banks

In Short: The Situation: The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation (collectively, the "Agencies") have proposed rules… more

Banks, Borrowers, Debt, Debt Collection, Debt Instruments

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Business Restructuring Review Vol. 24 No. 1 | January–February 2025

The Year in Bankruptcy: 2024 - A brief chronicle of the year's notable developments in corporate bankruptcy and restructuring, including business bankruptcy filings, significant court rulings, and legislative developments… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 15, Commercial Bankruptcy

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Restoration of Crown Preference and Erosion of the English Floating Charge

With effect from December 1, 2020, Her Majesty's Revenue and Customs ("HMRC") ranks ahead of floating charge holders and unsecured creditors with respect to recovering certain pre-insolvency taxes from an insolvent business… more

Corporate Taxes, HMRC, Insolvency, International Tax Issues, PAYE

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New Year, New Illinois Employment Laws

New legislation in Illinois introduces several changes, effective January 1, 2025, that will affect businesses with Illinois employees… more

Anti-Discrimination Policies, Employer Liability Issues, Equal Pay, Human Rights, Illinois

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Department of Justice Increasingly Challenges Class Settlements

The Situation: Under the Class Action Fairness Act, the Department of Justice may object to federal class action settlements it believes are unfair or inequitable to unnamed class members. The Result: In the past year, federal… more

Amended Rules, CAFA, Class Action, Corporate Counsel, Department of Justice (DOJ)

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Cases Pending Before September 1, 2024, Cannot Be Removed to Texas Business Court, Dallas Court Holds

In the first opinion to address the issue, the Texas Business Court determined that it lacks jurisdiction over cases pending before September 1, 2024, even if the cases otherwise meet the jurisdictional requirements of the… more

Business Court, Business Disputes, Business Litigation, Lack of Jurisdiction, Remand

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Fourth Circuit Rejects FCA Claims on Scienter Grounds Based on Ambiguous Regulations

The Situation: Manufacturers of allergenic extracts that are injected into a patient must obtain a Food and Drug Administration ("FDA") approved license in order to ensure their products are safe for consumption. Until the FDA… more

False Claims Act (FCA), Food and Drug Administration (FDA), General Licenses, Life Sciences, Pharmaceutical Industry

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EuroResource—Deals & Debt - March 2017

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments… more

Anti-Corruption, Avoidance, BaFin, Corporate Taxes, Creditors

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Revised U.S. Regulations Support Cuba's Private Sector, but Travel Restrictions Remain

The Situation: Regulations implementing tightened U.S. policy towards engagement with Cuba have rolled back a number of Obama-era initiatives and are effective immediately. The Result: Provisions that encourage Cuban private… more

Cuba, Cuba Restricted List, Cuban Assets Control Regulations (CACR), Export Administration Regulations (EAR), Exports

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2023 False Claims Act Enforcement in Health Care and Life Sciences, Part III

In February 2024, the Department of Justice (“DOJ”) announced the results of its 2023 False Claims Act (“FCA”) enforcement efforts. Through those efforts, it obtained more than $2.6 billion in overall recoveries, and of that… more

Anti-Kickback Statute, Artificial Intelligence, Cybersecurity, Department of Health and Human Services (HHS), Department of Justice (DOJ)

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New "Beginning of Construction" Guidelines Issued for Wind and Solar Tax Credits

The Internal Revenue Service ("IRS") has issued Notice 2025-42 to implement the One Big Beautiful Bill Act ("OBBBA") mandate to phase out the clean electricity production tax credit (§ 45Y) and investment tax credit (§ 48E) for… more

Clean Energy, Construction Project, Energy Projects, Federal Budget, Internal Revenue Code (IRC)

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Post-Order Merger Divestitures Likely to Face "Uphill" Battle with FTC

New guidance from the Federal Trade Commission's ("FTC") staff describes the FTC's views on "post-order" divestitures and highlights the difficulties in persuading the FTC to abandon its preference for upfront buyers in merger… more

Acquisitions, Competition, Corporate Counsel, Divestiture, Divestment

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California Proposes CCPA Amendments to Further Protect Children's Privacy

Proposed amendments to the California Consumer Privacy Act would require businesses to obtain opt-in consent prior to collecting, selling, sharing, using, or disclosing a minor's personal information… more

California, California Consumer Privacy Act (CCPA), Consumer Privacy Rights, Cybersecurity, Data Collection

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U.S. Corporation Found Liable for Complicity in Human Rights Violations in Colombia

A recent jury verdict finding Chiquita Brands International ("Chiquita") responsible for deaths by a Colombia paramilitary group marked the first "bellwether trial" in a massive multidistrict litigation and is reported to be the… more

Bellwether Verdicts, Colombia, Corporate Counsel, Corporate Liability, Human Rights

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UK Government Taking Longer With FDI Reviews, but Clearance Rates Higher

The Situation: On September 10, 2024, the UK government published the third National Security and Investment Act 2021 Annual Report ("2023/2024 Annual Report"), revealing longer processing times for foreign direct investment… more

Acquisition Agreements, Corporate Sales Transactions, Foreign Direct Investment, Foreign Investment, Foreign Jurisdictions

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U.S. Supreme Court Rules Appellate Protection of Bankruptcy Property Sale Is Subject to Waiver and Estoppel

In Short - The Situation: The U.S. Supreme Court considered whether § 363(m) of the Bankruptcy Code, which limits a party's ability to undo an asset transfer made to a good-faith purchaser in a bankruptcy case, is… more

363 Sales, Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy

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Preliminary Injunction Issued Preventing Ban on New Federal Oil and Gas Leases

As reported in the last edition of The Climate Report, Alabama, Alaska, Arkansas, Louisiana, Georgia, Mississippi, Missouri, Montana, Nebraska, Oklahoma, Texas, Utah, and West Virginia (collectively, "Plaintiff States") filed… more

Administrative Procedure Act, Biden Administration, Energy & Climate Debates, Executive Orders, Infrastructure

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New White House Report Outlines U.S. Policy for Digital Assets

President Trump's "Working Group on Digital Asset Markets" recently released a report with a strategic roadmap to advance American leadership in digital financial technology… more

Anti-Money Laundering, Bank Secrecy Act, Blockchain, Cryptoassets, Cryptocurrency

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Global Enforcement And Asset Recovery Series - Series Article 2: Asset Disclosure

In the context of asset recovery, a successful outcome largely depends on the ability of a claimant to garner sufficient disclosure of assets that are amenable to enforcement. This, in turn, explains why the powerful injunctive… more

Asset Recovery, Corporate Structures, Criminal Prosecution, Debtors, Disclosure Requirements

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SEC Adopts Long-Awaited and Heavily Debated Private Fund Adviser Rules

The U.S. Securities and Exchange Commission ("SEC") adopted multiple rules that will impact private funds, governing documents, and side letters… more

Financial Services Industry, Investment Adviser, New Rules, Private Equity, Private Funds

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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Affiliates (Currently) Off the Hook: Supreme Court Vacates $43M Trademark Infringement Award

The Supreme Court vacates a decision treating a company and its affiliates as "one and the same" for purposes of disgorging profits for trademark infringement under the Lanham Act, but leaves many questions unaddressed… more

Affiliates, Corporate Governance, Damages, Dewberry Group Inc v Dewberry Engineers Inc, Disgorgement

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Texas Enforcement Sweep Finds Widespread Fraud in Cryptocurrency Offerings

The surge in cryptocurrency activity has led to an increase in attention from enforcement authorities at both the state and national levels. The Texas State Securities Board launched an investigation into cryptocurrency… more

Bitcoin, Broker-Dealer, Cease and Desist Orders, Cryptocurrency, Digital Currency

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Australia Passes Landmark Scam Prevention Legislation

On 13 February 2025, the Australian Federal Parliament passed the Scams Prevention Bill 2025 (Cth) ("Bill"), the first of its kind worldwide… more

Australia, Banks, Cybersecurity, Data Privacy, Financial Institutions

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Business Restructuring Review Vol. 24, No. 4 | July–August 2025

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once the… more

Appeals, Bankruptcy Code, Bankruptcy Court, Borrowers, Chapter 11

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Will the U.S/EU Trade Deal lead to additional changes in European ESG legislation?

As a follow-up to the political agreement reached between U.S. President Donald Trump and EU Commission President Ursula von der Leyen regarding cross-Atlantic trade on July 27th, 2025, the United States and the EU issued a… more

Climate Change, Corporate Sustainability Reporting Directive (CSRD), Due Diligence, Environmental Social & Governance (ESG), EU

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Hydrogen Supply and Utilization Promotion Bill: Supporting Low-carbon Hydrogen and Derivatives in Japan

The Situation: The Japanese Cabinet has approved a draft bill to financially incentivize the supply and utilization of low-carbon hydrogen and its derivatives ("Hydrogen Bill") as part of its push to reach net zero by 2050… more

Fossil Fuel, Hydrogen Power, Infrastructure, Japan, Net Zero

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Financing of Australian Class Actions—Solicitors Common Fund Order Disallowed

Australia's highest court has ruled on the question of whether lawyers in New South Wales ("NSW") can charge contingency fees in class action litigation in the Federal Court of Australia (otherwise known as a solicitors' common… more

Australia, Class Action, Client Services, Contingency Fees, Jurisdiction

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The Rise of Outbound Investment Screening: The U.S. and EU Initiate Measures

On January 15, 2025, the European Commission ("EC") published a Recommendation ("EU Recommendation") urging European Union Member States to start reviewing outbound investments outside of the EU in three strategic sectors:… more

Artificial Intelligence, EU, Foreign Investment, Innovative Technology, Investment

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PTAB Allows Supplemental Information Request To Fly

Once the PTAB institutes an IPR, the parties may only add supplemental information to the record by requesting authorization to file a motion to submit the information. See 37 C.F.R. § 42.123 (2022). If authorization is not… more

Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation, Patent Trial and Appeal Board

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Crypto Exchange-Traded Products: Navigating the Intersection of Crypto and Securities

Direct ownership of crypto-assets or mere exposure to the value of crypto-assets is an investment decision, with both investment methods requiring specific approaches to mitigate and manage risks effectively… more

Cryptoassets, EU, Exchange-Traded Products, Financial Conduct Authority (FCA), Financial Markets

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The Changing Landscape for Business Disputes in Texas: Justices Named to Inaugural Business Dispute Appellate Court

On June 11, 2024, Governor Greg Abbott appointed the three inaugural justices for the new Fifteenth Court of Appeals, which will hear appeals from business courts statewide… more

Appeals, Appellate Courts, Appellate Rules, Business Disputes, Business Litigation

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OMB Directs Agencies to Accelerate AI Adoption and Devise Governance Strategy

The Office of Management and Budget releases highly anticipated guidance to federal agencies on the use and deployment of artificial intelligence and how to manage its risks… more

Artificial Intelligence, Executive Orders, Federal Contractors, Government Agencies, Machine Learning

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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FCA Consultation on New Benchmark Powers Highlights Ongoing Discussions Regarding USD LIBOR

The Situation: On the same day that the ICE Benchmark Administration ("IBA") launched a consultation on its intention to cease publishing euro, sterling, Swiss franc, and yen LIBOR at year-end 2021, the UK Financial Conduct… more

Banking Sector, Financial Conduct Authority (FCA), Financial Markets, ICE Benchmark Administration (IBA), Libor

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U.S. Supreme Court Encourages Federal Rule 7(a)(7) Replies—A Potential Boon for Defendants

The U.S. Supreme Court recently reminded district courts that they may use Federal Rule of Civil Procedure 7(a)(7)—a little-known rule—to screen out meritless complaints before discovery… more

Counterclaims, Defense Strategies, Discovery, Dismissals, Federal Rules of Civil Procedure

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2023 Securities Litigation Year in Review

During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings involving… more

Class Certification, Cryptocurrency, False Statements, Fiduciary Duty, Financial Institutions

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IRS Increases Enforcement Efforts on Large Businesses

The IRS continues to expand its enforcement activities, announcing a new compliance campaign to examine large businesses with issues arising out of the TCJA and CARES Act. The IRS Large Business and International ("LB&I")… more

CARES Act, Compliance, International Tax Issues, IRS, Large Business & International Division (LB&I)

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Newly Enacted Law Ups the Ante on Mandatory Insurance Disclosure Requirements in New York State Court Litigation

New York's novel mandatory disclosure requirement is more extensive than what is required by its federal counterpart, mandating the disclosure of a litany of "information and documentation," accompanied by affidavits from a… more

Disclosure Requirements, Discovery, Insurance Claims, Insurance Litigation, Insurance Regulations

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Jones Day Talks®: Corporate Fraud Investigations in 2025: Lessons, Trends, and Need-to-Knows

Corporate fraud remains a persistent and potentially damaging threat to companies across industries, sectors, and borders. The risks are substantial and the penalties are daunting. Jones Day partner Jeff Schenk, a former… more

Corporate Fraud, Corporate Misconduct, Criminal Investigations, Investigations, Oil & Gas

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Ninth Circuit Finds Data Breach Customers Have Initial Standing to Sue

The Situation: Relating to a 2012 data breach lawsuit against Zappos.com, a district court had found that a certain group of plaintiffs lacked standing to sue because they "failed to allege instances of actual identity theft or… more

Appeals, Article III, Clapper v. Amnesty International, Cyber Attacks, Cybersecurity

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Brand Protection and Enforcement Under the DSA: Opportunities and Challenges

The Digital Services Act ("DSA"), which entered into force for all intermediary services and online platforms in February 2024, aims to modernize and harmonize the regulation of third-party content across the EU. It notably… more

Brand, Counterfeiting, Data Protection, Digital Services, Enforcement

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New "Beginning of Construction" Guidelines Issued for Wind and Solar Tax Credits

The Internal Revenue Service ("IRS") has issued Notice 2025-42 to implement the One Big Beautiful Bill Act ("OBBBA") mandate to phase out the clean electricity production tax credit (§ 45Y) and investment tax credit (§ 48E) for… more

Clean Energy, Construction Project, Energy Projects, Federal Budget, Internal Revenue Code (IRC)

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Co-Ownership of Patents: Are Your Co-Owned Patents Ready for the Unified Patent Court?

In Short - The Situation: With the introduction of the Unified Patent Court ("UPC") system in Europe, the co-ownership of patents will have material effect on patents with unitary effect ("Unitary Patent")… more

EU, European Patent Office, Intellectual Property Protection, Patents, Unified Patent Court

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Jones Day Cross-Border Investigations Series 2023 - Issue 1 : Whistleblowing

While there are a number of ways in which organizations may become aware of potential wrongdoing internally, perhaps the most significant for its legal and compliance teams is internal reporting, or “whistleblowing,” by… more

Cross-Border, Cross-Border Transactions, Employment Rights Act, EU, Financial Conduct Authority (FCA)

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JONES DAY TALKS®: The Rise of AI Regs: Approaches from the European Union and United States

As technology and regulatory frameworks evolve, artificial intelligence ("AI") legal issues have emerged as a key topic in transactional, litigation, and regulatory compliance contexts. Jones Day partners Laurent De Muyter, Carl… more

Artificial Intelligence, Compliance, Digital Services, EU, Insurance Litigation

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Business Restructuring Review Vol. 24, No. 2 | March–April 2025

Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision… more

Assignments, Bankruptcy Court, Chapter 11, Chapter 15, Comity

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USPTO/PTAB: Changes are on the Horizon

In the closing weeks of 2024, USPTO Director Kathi Vidal announced her departure in a November LinkedIn post, stating that she would leave the Office during the second week of December to rejoin the partnership of Chicago-based… more

Executive Orders, Intellectual Property Protection, Patent Litigation, Patent Trial and Appeal Board, Patents

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White House Opens Door to Broader Inclusion of Alternative Assets in Defined Contribution Retirement Plans

A hotly anticipated August 7, 2025, executive order, "Democratizing Access to Alternative Assets for 401(k) Investors" ("EO"), aims to reduce regulatory barriers and significantly expand access to "alternative assets"—including… more

401k, Compensation & Benefits, Defined Contribution Plans, Department of Labor (DOL), Digital Assets

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New Year, New Illinois Employment Laws

New legislation in Illinois introduces several changes, effective January 1, 2025, that will affect businesses with Illinois employees… more

Anti-Discrimination Policies, Employer Liability Issues, Equal Pay, Human Rights, Illinois

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"Caging the Green Swan"—A Global Take on ESG Risk Management

Intensifying demands from regulators, investors, and the public for attention to environmental, social, and governance ("ESG") considerations presents a key challenge for risk managers, particularly those in the financial… more

Business Strategies, Corporate Governance, Corporate Social Responsibility, Disclosure Requirements, Environmental Social & Governance (ESG)

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The EU Risk Reduction Package: The Countdown for Restructuring the MREL Base Has Just Begun

The pending EU risk reduction package is highly relevant for the whole EU banking sector. It addresses the capital provisioning required by banks to facilitate potential resolution measures by resolution authorities if a bank is… more

Bank Recovery and Resolution Directive (BRRD), Banking Sector, Capital Requirements Regulation (CRR), Contract Terms, EU

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Business Restructuring Review | March–April 2021

In This Issue: Tenant's Election to Retain Possession of Rejected Lease Premises Preserves Obligations Under Related Agreements - Section 365(h) of the Bankruptcy Code provides special protection for tenants if a trustee… more

Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Corporate Restructuring, Creditors

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I Consent: New Illinois Law Expands General Jurisdiction for Foreign Corporations Doing Business in Illinois

On August 15, 2025, Governor Pritzker signed Senate Bill 328 into law, amending Illinois's long-arm statute, Section 2-209(b), and the Illinois Business Corporation Act of 1983… more

Business Litigation, Constitutional Challenges, Environmental Litigation, Foreign Corporations, General Jurisdiction

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Drop a Dime, Get a Dollar: DOJ's Antitrust Division and U.S. Postal Service Unveil Whistleblower Program

On July 8, 2025, the Department of Justice ("DOJ") and the U.S. Postal Service ("USPS") announced a Whistleblower Rewards Program that will provide financial incentives to individuals who report antitrust crimes and related… more

Antitrust Provisions, Antitrust Violations, Competition, Criminal Convictions, Department of Justice (DOJ)

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CFPB Guidance Puts Creditors on Notice About AI-Involved Adverse Actions

Recent Consumer Financial Protection Bureau ("CFPB") guidance reiterates that creditors must provide consumers with accurate and individualized explanations for adverse actions—a task made more difficult by the complexity of… more

Adverse Action, Algorithms, Artificial Intelligence, Consumer Credit Protection, Consumer Financial Products

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President Biden Issues Executive Order on "Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence"

On October 30, 2023, President Biden signed a first-of-its-kind executive order entitled, "Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence" ("AI")… more

Algorithms, Artificial Intelligence, Biden Administration, Cybersecurity, Data Privacy

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SEC Reopens Comment Period for Rule Proposing New Disclosures for Security-Based Swaps

The Situation: The Securities and Exchange Commission ("SEC") has reopened the comment period for its proposed rule requiring public disclosure of security-based swap ("SBS") positions that exceed certain thresholds… more

Administrative Procedure Act, Comment Period, Disclosure Requirements, Legal Entity Identifiers, Proposed Rules

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UK Court of Appeal Provides Guidance on Interim Licenses in Latest FRAND Dispute

The United Kingdom's Court of Appeal has issued an important decision on the principles governing the grant of interim licenses in standard essential patent ("SEP") disputes… more

Appeals, Ericsson, FRAND, Good Faith, Intellectual Property Protection

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Carbon Capture Utilization and Storage in the United States

Jones Day released a White Paper titled, “CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making.” This White Paper is a continuation on that topic, covering carbon capture… more

Carbon Capture and Sequestration, Climate Change, Department of Energy (DOE), Energy Policy, Energy Projects

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New York's Highest Court Interprets "Consumer" Expansively Under Consumer Protection Statute

On June 3, 2021, the Court of Appeals clarified the scope of New York General Business Law Section 349, a frequently invoked consumer protection provision. The Court held that Section 349 protects consumers from the deceptive… more

Doing Business, Goods or Services, Misrepresentation, Putative Class Actions, Rental Property

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California Unclaimed Property Amnesty on the Horizon

On February 17, 2022, Assembly Bill 2280 was introduced in the California Assembly. AB 2280 offers a long-awaited solution for companies owing past-due property to the State of California… more

California, Cooperative Compliance Regime, Proposed Legislation, Regulatory Agenda, Unclaimed Property

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European Government Support Schemes: Current State of Play

The Situation: The economic crisis caused by COVID-19 has triggered an unprecedented response from European governments to support their economies with government-backed financial support… more

Capital Markets, Coronavirus Large Business Interruption Loan Scheme (the CLBILS), Coronavirus/COVID-19, EU

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EMA Calls for Public Consultation on Clinical Trial Protocol, Pharmaceutical & Medical Device Update, Vol. IV, Issue III

June 2017 The EMA has opened for public consultation a draft guideline for the notification of serious breaches of the Clinical Trial Protocol (Regulation (EU) No 536/2014)… more

Breach of Duty, Clinical Trials, Consultation Periods, EU, European Medicines Agency (EMA)

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White House Releases Plan to Build U.S. AI Infrastructure

On July 23, 2025, the White House released "America's AI Action Plan" (the "Plan"), a comprehensive federal strategy to secure U.S. global leadership in artificial intelligence ("AI"). The Plan is structured around three… more

Artificial Intelligence, Clean Water Act, Data Centers, Department of Energy (DOE), Environmental Policies

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Recent Amendments to Australia's Fair Work Act Impact Whether Independent Contractors Are Deemed "Employees"

Recent amendments to the Fair Work Act 2009 (Cth) establishing a new "whole-of-relationship test" increase the likelihood that Australian businesses will face claims of "sham contracting" by misclassifying employees as… more

Australia, Employees, Employer Liability Issues, Fair Work Act, Freelance Workers

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Stablecoins: Revolutionizing Global Finance?

Following the recent focus on two major regulatory frameworks—the Guiding and Establishing National Innovation for U.S. Stablecoins Act (known as the GENIUS Act) in the United States, and Regulation (EU) 2023/1114 of the… more

Cryptocurrency, Digital Assets, EU, Financial Markets, Financial Regulatory Reform

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Hong Kong International Arbitration Centre Updates Administered Arbitration Rules

The Hong Kong International Arbitration Centre ("HKIAC") has released its 2024 Administered Arbitration Rules ("2024 Rules"). The 2024 Rules focus on improving the time- and cost-efficiency of the HKIAC arbitral process, and… more

Arbitration, Arbitration Agreements, Business Disputes, Hong Kong, Hong Kong International Arbitration Centre (HKIAC)

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Allergan Successfully Invalidates Claims Relating to Using Botox to Treat Back Pain

Allergan is typically the patent holder in these types of disputes, however, it recently successfully played the role of petitioner in an IPR against 1474791 Ontario Ltd.’s U.S. Patent No. 6,806,251 covering the use of botulinum… more

Allergan Inc, Patent Infringement, Patent Invalidity, Patent Litigation, Patents

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Legislation: Restoring the America Invents Act

On Wednesday, September 29, 2021, Senators Patrick Leahy (D) and John Cornyn (R) introduced the Restoring the America Invents Act, a bill that would modify Patent Trial and Appeal Board (PTAB) procedures and facilitate… more

Administrative Authority, Administrative Procedure, America Invents Act, Legislative Agendas, Patent Infringement

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USPTO Releases New Guidance on Patent Subject Matter Eligibility

The Situation The legal uncertainty surrounding patent subject matter eligibility under Section 101 of the United States Code ("35 U.S.C. § 101") has been the subject of much attention, as it has become difficult for… more

Abstract Ideas, CLS Bank v Alice Corp, Mayo v. Prometheus, New Guidance, Patent Applications

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Singapore Passes Its First Anti-Discrimination Law

Singapore has passed the country's first law designed to protect workers against discrimination and penalize employers who discriminate… more

Anti-Discrimination Policies, Disability Discrimination, Diversity and Inclusion Standards (D&I), Employees, Employment Discrimination

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Hong Kong International Arbitration Centre Updates Administered Arbitration Rules

The Hong Kong International Arbitration Centre ("HKIAC") has released its 2024 Administered Arbitration Rules ("2024 Rules"). The 2024 Rules focus on improving the time- and cost-efficiency of the HKIAC arbitral process, and… more

Arbitration, Arbitration Agreements, Business Disputes, Hong Kong, Hong Kong International Arbitration Centre (HKIAC)

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New York Department of Financial Services Issues Guidance on Virtual Currency Custodial Services

In Short - The Situation: Following a string of bankruptcies among virtual currency firms, the New York Department of Financial Services has issued guidance on the practices and procedures it expects from certain… more

BitLicense, Commercial Bankruptcy, Cryptocurrency, Custodians, Due Diligence

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PTAB Publishes Revised Oral Hearing Guide

The Patent Trial and Appeal Board (“PTAB”) recently published a revised PTAB Oral Hearing Guide (August 2023) updating prior guidance on hearings.  The revised Guide includes changes to: 1. Remote participation in PTAB… more

Administrative Review, Ex Partes Reexamination, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Oral Hearings

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Discretionary Denial of IPR Institution Due to Advanced Hatch-Waxman Litigation

In a recent decision, the Patent Trial and Appeals Board (“PTAB”) exercised its discretion under 35 U.S.C. § 314(a) to deny institution of an inter partes review (“IPR”) after applying the Fintiv factors, despite Petitioner’s… more

Denial of Institution, Generic Drugs, Gilead Sciences, Hatch-Waxman, Intellectual Property Protection

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FSOC Proposals Renew Threat of Nonbank "Systemically Important" Designations

In Short - The Situation: The Financial Stability Oversight Council ("FSOC") recently issued a "notification of proposed interpretive guidance" on updated procedures for designating nonbank financial companies as… more

Banks, Dodd-Frank, Financial Institutions, FSOC, SIFIs

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Unraveling the Forced Labor Stitched Into the Textile Industry

The Department of Homeland Security ("DHS") recently announced an enhanced strategy to combat illicit trade in the textile industry, including violations of the Uyghur Forced Labor Prevention Act ("UFLPA")… more

Customs and Border Protection, Department of Homeland Security (DHS), Forced Labor, Supply Chain, Textiles

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Japan Legal Update - Volume 26 | June 2017

The amendment to the Financial Instruments and Exchange Act ("Amended FIEA") was enacted on May 17, 2017, and promulgated on May 24, 2017. The Amended FIEA will come into force no later than one year from the date of… more

APIs, Banks, Civil Code, Disclosure Requirements, Financial Instruments and Exchange Act of Japan (FIEA)

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SEC Proposes Amendments to Modernize and Enhance Financial Disclosures

The Situation: In an effort to modernize, simplify, and enhance certain financial disclosure requirements in Regulation S-K, the U.S. Securities and Exchange Commission ("SEC") proposed certain amendments on January 30,… more

Comment Period, Disclosure Requirements, Foreign Private Issuers, MD&A Statements, Modernization

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2020 Cross-Border Corporate Criminal Liability Survey

International businesses operate in an environment in which there is an expansion of corporate criminal liability and a trend toward imposing greater demands on corporate compliance and self-governance. Resolutions of criminal… more

Compliance, Corporate Investigations, Criminal Liability, Cross-Border Transactions

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Earnout Provisions: When Litigation Arises and How to Avoid It

The use of earnout provisions, which buyers and sellers often use to bridge differing views of value, is on the rise, especially in the private equity and corporate venture capital markets. This White Paper examines how courts… more

Acquisition Agreements, Buyers, Earn-Outs, Federal Arbitration Act, Merger Agreements

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D.C. Circuit Finds Council on Environmental Quality's NEPA Regulations Are Unenforceable

In Marin Audubon Society v. FAA, the D.C. Circuit held the White House Council on Environmental Quality ("CEQ") lacks authority to issue binding regulations under the National Environmental Policy Act ("NEPA")… more

Air Pollution, Air Quality Standards, Audubon Society, Aviation Industry, CEQ

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Will the U.S/EU Trade Deal lead to additional changes in European ESG legislation?

As a follow-up to the political agreement reached between U.S. President Donald Trump and EU Commission President Ursula von der Leyen regarding cross-Atlantic trade on July 27th, 2025, the United States and the EU issued a… more

Climate Change, Corporate Sustainability Reporting Directive (CSRD), Due Diligence, Environmental Social & Governance (ESG), EU

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Georgia Enacts Major Tort Reform Legislation

The new law affects various aspects of civil litigation, including negligent security cases, damages, evidentiary matters, civil practice, and third-party litigation funding… more

Attorney's Fees, Damages, Discovery, Georgia, Liability

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New York's Recipe for Food Marketing: Next Course of Restrictive State Actions?

A New York Senate bill seeks to amend multiple state laws impacting food and beverage advertising to expand the scope of factors to be considered in determining whether an advertisement is false or misleading… more

Beverage Manufacturers, False Advertising, Food Labeling, Food Manufacturers, Food Marketing

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California Supreme Court Will Review Novel Negligence Theory for Pharmaceutical Manufacturers

The Situation: The California Supreme Court recently granted review of a California Court of Appeal decision, Gilead Life Sciences, Inc. v. The Superior Court of the City and County of San Francisco, that made waves in the… more

CA Supreme Court, Duty of Care, FDA Approval, Food and Drug Administration (FDA), Gilead Sciences

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Product Regulation and Metrology Bill Receives Royal Assent

The Product Regulation and Metrology Act 2025 reforms the UK's post-Brexit product safety, metrology, and consumer protection frameworks… more

Consumer Protection Laws, Environmental Policies, EU, Information Sharing, Manufacturers

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EPA's PFAS Reporting Rule Requires Broad Retroactive Disclosure of PFAS Data

The Situation: In 2019, Congress amended the Toxic Substances Control Act ("TSCA") to require the Environmental Protection Agency ("EPA") to promulgate a reporting rule on per- and polyfluoroalkyl substances ("PFAS"). EPA… more

Contamination, Discharge of Pollutants, Environmental Policies, Environmental Protection Agency (EPA), Hazardous Substances

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New York City Releases Final Rules on Automated Employment Decision Tools

New York City regulators have finalized rules implementing the city's law requiring bias audits of automated employment decision tools, publication of audit results, notice to employees, and other requirements… more

Artificial Intelligence, Automation Systems, City of New York, Decision-Making Process, Employer Liability Issues

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Minnesota Legislature Enacts Pay Transparency Law and Updates Paid Sick Leave and Other Employment Laws

Minnesota employers should be aware of several new employment laws that were included in the Omnibus Labor and Industry Policy bill and Omnibus Tax bill that were signed into law at the end of May, just before the close of the… more

Earned Sick and Safe Time Act, Employee Benefits, Employees, Employer Liability Issues, Equal Pay

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Business Restructuring Review Vol. 24, No. 2 | March–April 2025

Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision… more

Assignments, Bankruptcy Court, Chapter 11, Chapter 15, Comity

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Unraveling the Forced Labor Stitched Into the Textile Industry

The Department of Homeland Security ("DHS") recently announced an enhanced strategy to combat illicit trade in the textile industry, including violations of the Uyghur Forced Labor Prevention Act ("UFLPA")… more

Customs and Border Protection, Department of Homeland Security (DHS), Forced Labor, Supply Chain, Textiles

See all updates »

Texas Enacts Business-Friendly Reforms in Bid to Dethrone Delaware’s Corporate Dominance

The Texas Legislature recently has taken Texas-sized steps intended to make the state a more attractive place for companies to form, reincorporate, or relocate, further advancing Texas’s efforts to rival Delaware as a… more

Attorney's Fees, Business Court, Business Entities, Business Formation, Corporate Governance

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Real Insight - Issue 1 2025

INTRODUCTION - Welcome to the first edition of Real Insight, our new UK real estate update. Among the subjects covered in this edition are the emerging success of data centres in the planning system, continuation funds, the… more

Commercial Leases, Construction Industry, Construction Project, Data Centers, Easements

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Acting Director Releases First Decisions Under New Bifurcated Process

On May 16, 2025, USPTO Acting Director Coke Morgan Stewart released the first four discretionary denial decisions under the PTAB’s new process. Under the new process, the parties separately brief discretionary denial issues and… more

Administrative Procedure Act, Appeals, Director of the USPTO, Final Written Decisions, Intellectual Property Protection

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IPR Estoppel A Paper Tiger?

After a final written decision issues, an IPR petitioner is statutorily estopped from going back to the district court and arguing that the same claims are “invalid on any ground that the petitioner raised or reasonably could… more

Estoppel, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board, Patents

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New Legislation Shaping Australia's Emissions Reduction Policy

In Short - The Situation: Significant climate law reforms came into force in Australia on 15 September 2022, with the commencement of the Climate Change Act 2022 (Cth) ("Climate Change Act") and the Climate Change… more

Australia, Climate Change, Greenhouse Gas Emissions, Renewable Energy

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Grayscale Scores Win Against the SEC, but the Agency's Significant Market Test Remains Unaddressed

The D.C. Circuit rebuked the U.S. Securities and Exchange Commission ("SEC") on administrative law grounds but left untouched the test the Agency used to deny proposed bitcoin exchange traded products ("ETP")… more

Arbitrary and Capricious, Bitcoin, Cryptocurrency, Digital Assets, Digital Currency

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Crypto Assets, CASPS, and AML/CFT Compliance: The New European Regulatory Landscape Under MiCA and AMLR

The rise of crypto assets and decentralized finance has challenged traditional regulatory frameworks, particularly in the area of anti-money laundering and countering the financing of terrorism ("AML/CFT")… more

AML/CFT, Anti-Money Laundering, Cooperative Compliance Regime, Cryptoassets, Cryptocurrency

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Shock and Law: UK Government's Surprise Proposal to Ban Upward-Only Rent Reviews

For years, upward-only rent reviews have been a cornerstone of the UK commercial property market, offering landlords and investors a reassuring degree of income security and predictability… more

Commercial Leases, Commercial Property Owners, Investors, Landlord and Tenant Acts, Landlords

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Qualified Small Business Stock Benefits Expanded in New Tax Bill

The One Big Beautiful Bill Act expands the qualified small business stock benefits available to founders and investors… more

Federal Budget, Internal Revenue Code (IRC), Investors, IRS, New Legislation

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ACCC Conducts Sweep of Online Statements for Compliance with Australian Consumer Law

The Australian Competition and Consumer Commission ("ACCC") recently announced that it had conducted a sweep of more than 2,000 Australian retail websites that found some businesses' return policies and website terms and… more

Australia, Australian Competition and Consumer Commission (ACCC), Australian Consumer Law, Contract Terms, Enforcement Actions

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Companies Join the Fray in the Battle of the Proxy Advisors v. Texas

On June 20, 2025, Texas passed SB 2337, a first-of-its-kind regulation of proxy advisors such as ISS and Glass Lewis. SB 2337 requires proxy advisors to, among other things, disclose when their recommendations are based, in… more

Commercial Speech, Constitutional Challenges, Corporate Governance, Disclosure Requirements, Diversity and Inclusion Standards (D&I)

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Product Regulation and Metrology Bill Receives Royal Assent

The Product Regulation and Metrology Act 2025 reforms the UK's post-Brexit product safety, metrology, and consumer protection frameworks… more

Consumer Protection Laws, Environmental Policies, EU, Information Sharing, Manufacturers

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FTC Public Comment Request Signals Continued Increase in State AGs Enforcement Efforts

On June 7, the Federal Trade Commission ("FTC" or "Commission") announced a request for public comments ("Request") regarding how it can enhance collaboration efforts with state attorneys general ("AGs") to more effectively… more

Federal Trade Commission (FTC), Fraud, Public Comment, Scams, State Attorneys General

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DOJ Updates Corporate Compliance Program Guidance and Announces New Policy Initiatives and Enforcement Resources

In Short - The Situation: As a follow-up to the deputy attorney general's September 2022 memorandum, the U.S. Department of Justice ("DOJ" or "Department") announced in March 2023 significant updates to its corporate… more

Compliance, Corporate Crimes, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ)

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SEC Adopts Final Rules Regarding Share Repurchases and Related Disclosures

On May 3, 2023, the Securities and Exchange Commission adopted final rules regarding public company issuers' share repurchases and Rule 10b5-1 trading plans. Although the final rules are not as burdensome as the proposed rules,… more

10b5-1 Plans, Disclosure Requirements, Form 10-K, Regulation S-K, Securities and Exchange Commission (SEC)

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Legislation: PTAB Reform Act of 2022 (UPDATED)

Since the passage of the America Invents Act in 2012, both petitioners and patent owners have expressed concerns regarding the procedures and practices of the Patent Trial and Appeal Board (PTAB). In an effort to respond to… more

America Invents Act, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Patent Infringement, Patent Litigation

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A Review of 2024 Labor & Employment Legislation in California

The 2024 California legislative session saw the passage of a number of new and important labor and employment laws… more

California, Employee Benefits, Employees, Employer Liability Issues, Employment Policies

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CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making

Carbon capture utilization and storage (“CCUS”) refers to technologies that enable carbon dioxide (“CO2”) emissions from industrial sources to be captured and either used in a way that limits or prevents them from being emitted… more

Asia Pacific, Association of Southeast Asian Nations (ASEAN), Carbon Capture and Sequestration, Climate Change, Energy Policy

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EU Adopts Enhanced Legal Framework to Provide for High Common Level of Cybersecurity

The Council of the European Union ("EU") adopted a new Directive to strengthen cybersecurity and resilience across the Union. - Following the European Parliament's approval on November 10, 2022, the Council of the European… more

Cybersecurity, Data Protection, EU, Reporting Requirements, Risk Management

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Supreme Court Rules California Cannot Force Nonprofits to Disclose Donors

The U.S. Supreme Court strikes down California law requiring charitable organizations to disclose their donors to the state. On July 1, 2021, the U.S. Supreme Court in Americans for Prosperity Foundation (AFP) v. Bonta held that… more

Americans for Prosperity Foundation (AFP) v. Bonta, Charitable Donations, Charitable Organizations, First Amendment, Freedom of Association

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Product Regulation and Metrology Bill Receives Royal Assent

The Product Regulation and Metrology Act 2025 reforms the UK's post-Brexit product safety, metrology, and consumer protection frameworks… more

Consumer Protection Laws, Environmental Policies, EU, Information Sharing, Manufacturers

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2022 Anti-Money Laundering and Sanctions Year in Review

In 2022, anti-money laundering ("AML") and sanctions controls were at the center of regulatory and enforcement activities in the United States and abroad. Globally, governments have continued to recognize the impact of AML… more

Anti-Money Laundering, Bank Secrecy Act, Financial Crimes, Financial Institutions, Financial Transactions

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Tightening of German Real Estate Transfer Tax Rules for Share Deals

The Situation: Under the German real estate transfer tax ("RETT") law, RETT is not only triggered on the direct acquisition of German properties, but also in case of share deals involving companies with German properties, if… more

Germany, Investors, New Rules, Partnerships, Popular

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Presidential Memorandum and IRS Notice 2020-65 Defer Employee Payroll Taxes

The Situation: On August 28, 2020, the IRS published Notice 2020-65 allowing employers to defer withholding the employee portion of Social Security tax from paychecks. This payroll tax deferral is different from the one provided… more

CARES Act, Coronavirus/COVID-19, Employer Liability Issues, IRS, Payroll Taxes

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The Climate Report | Third Quarter 2024

REGULATORY ISSUES & UPDATES - Update on Australia's New Climate-Related Financial Disclosure Regime - Australia's mandatory climate-related financial disclosure regime is inching closer to implementation after the proposed… more

Clean Air Act, Clean Energy, Climate Change, Disclosure Requirements, Enforcement Actions

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DOJ Announces Changes in White-Collar Criminal Enforcement in the Interest of Transparency

The Situation: On October 8, 2019, the U.S. Department of Justice ("DOJ") announced two significant developments relating to the enforcement of white-collar crime: (i) new guidance on how prosecutors should evaluate requests by… more

Corporate Counsel, Corporate Crimes, Corporate Criminal Fines, Corporate Misconduct, Criminal Penalties

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Vaccination FAQs for European Employers

The Situation: With COVID-19 vaccination campaigns underway throughout Europe, employers are eager for a return to pre-pandemic activities. However, given the pace of the vaccine roll-out and ongoing workplace restrictions and… more

Coronavirus/COVID-19, Employer Liability Issues, Employment Policies, EU, Infectious Diseases

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The Regulation of Foreign Direct Investment in Australia: Australian Treasury's Recent Facts and Figures

The Background: The Australian Treasury has released its second quarterly report of the 2023–24 financial year covering the regulation of foreign investment in Australia during the quarter ended 31 December 2023… more

Australia, FIRB, Foreign Corporations, Foreign Direct Investment, Foreign Investment

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Diocese of Rockville Centre Pioneers a Global Resolution for Itself, Its 136 Parishes, and its Settling Insurers Post-Purdue

In order to resolve hundreds of Child Victims Act lawsuits alleging sexual abuse, the Diocese of Rockville Centre commenced chapter 11 to seek protection for itself, its parishes, and schools, as well as providing equitable… more

Asset Management, Chapter 11, Churches, Class Action, Commercial Bankruptcy

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President Trump Pauses DOJ FCPA Enforcement and Orders Preparation of New Enforcement Guidelines

On February 10, 2025, President Donald J. Trump signed an Executive Order pausing enforcement of the Foreign Corrupt Practices Act ("FCPA") by the U.S. Department of Justice ("DOJ") for 180 days and ordering Attorney General Pam… more

Anti-Corruption, Attorney General, Department of Justice (DOJ), Enforcement Actions, Executive Orders

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Qualified Small Business Stock Benefits Expanded in New Tax Bill

The One Big Beautiful Bill Act expands the qualified small business stock benefits available to founders and investors… more

Federal Budget, Internal Revenue Code (IRC), Investors, IRS, New Legislation

See all updates »

Recent Decisions in the Ninth Circuit Highlight U.S. Litigation Risk in Relation to Alleged Human Rights Violations Abroad

In Short - The Situation: In the last month, two courts in the Ninth Circuit allowed human rights focused cases to proceed beyond the pleading stage. These cases seek to impose liability on U.S.-based companies for alleged… more

Aiding and Abetting, Alien Tort Statute, California, Child Labor, CLRA

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ABPA v. Ford: Design Patent Defenses Run Out of Gas on Appeal - A U.S. Court of Appeals for the Federal Circuit decision strengthens U.S. design patent protection for replacement parts.

On July 23, 2019, the U.S. Court of Appeals for the Federal Circuit released its decision affirming summary judgment that the asserted design patents were not invalid for non-ornamentality under 35 U.S.C. § 171, and rejecting… more

Appeals, Auto Parts, Automotive Industry, Design Patent, Ford Motor

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Pay Now, Argue Later—Even if the Contractor is Going Bust: The NSW Security of Payment Regime and Distressed Contractors

In Short - The Situation: Security of payment ("SOP") legislation across Australia provides a "pay now, argue later" regime for payment claims by contractors in the construction industry. The legislation expressly provides… more

Australia, Construction Contracts, Construction Industry, Contractors, Security of Payment Act

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ICOs and Token Regulation from a German Perspective

The Situation: In February 2018, Germany's Federal Financial Supervisory Authority ("BaFin") published an advisory letter on the classification of tokens as financial instruments, which was widely criticized for being too… more

BaFin, Cryptocurrency, EU, FINMA, Germany

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Antitrust Alert: European Union May Introduce Whistleblower Protections as Under Sarbanes-Oxley

Whistleblowers who expose breaches of European Union law will be afforded greater protection from retaliation by companies and public authorities under a draft law proposed by the European Commission in April 2018. The draft… more

Anti-Corruption, Corporate Governance, Data Protection, Employer Liability Issues, EU

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The Climate Report | Fourth Quarter 2024

New ESG regulations are expected to have a significant impact on disclosure and governance obligations for EU and non-EU companies alike, including extensive sustainability reporting and due diligence requirements on… more

Carbon Emissions, Climate Action Plan, Climate Change, Coal Mines, Energy Policy

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New EPA Positions Reflected in Sweeping Rollback of Greenhouse Gas Regulation

The Environmental Protection Agency ("EPA") proposed a rule that would rescind the 2009 Endangerment Finding, citing a new interpretation of the relevant section in the Clean Air Act ("CAA"), a lack of clear congressional intent… more

Administrative Procedure Act, Clean Air Act, Climate Change, Constitutional Challenges, Endangerment Finding

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Georgia Limits Liability for Pesticide Manufacturers

This week, Georgia's governor signed a new pesticide labeling and liability act (SB 144) ("Act"), amending state law to limit the scope of pesticide manufacturer liability for failure to warn and aligning the state standards… more

Agribusiness, Environmental Policies, Environmental Protection Agency (EPA), Failure To Warn, FIFRA

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Tax Credits for Sale: Opportunities for Financing Renewable Energy and Carbon Reduction Projects Under the Inflation Reduction Act

The Inflation Reduction Act gives taxpayers two options for monetizing the Internal Revenue Code's energy-related tax credits—a "direct pay" election and the ability to sell credits to third parties for cash. These options will… more

Energy Projects, Energy Tax Incentives, Inflation Reduction Act (IRA), Investment Tax Credits, Production Tax Credit

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Germany to Facilitate the Collective Pursuit of Antitrust Damages Claims

Recent rulings indicate that it will be easier for cartel victims to pursue their claims in German courts by assigning them to a special purpose vehicle ("SPV"), which then litigates the combined claims as the sole plaintiff… more

Antitrust Provisions, Class Action, Collective Actions, Competition, EU

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Civil Justice Council Publishes Report on Civil Enforcement

The Civil Justice Council ("CJC") has issued a new report calling for an overhaul of the enforcement regime in England & Wales… more

Debt, Debt Collection, Enforcement Actions, Judgment Creditors, UK

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Carbon Capture Utilization and Storage in the United States

Jones Day released a White Paper titled, “CCUS Regulation and Incentives in the Asia-Pacific Region: A Comparative Table for Strategic Decision-Making.” This White Paper is a continuation on that topic, covering carbon capture… more

Carbon Capture and Sequestration, Climate Change, Department of Energy (DOE), Energy Policy, Energy Projects

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Controlling Stockholder Exercising Voting Power as Stockholder to "Change the Status Quo" Owes Fiduciary Duties

The Background: After unsuccessfully trying to convince the special committee not to implement a plan to liquidate a business line, which the controlling stockholder believed would destroy value, the controlling stockholder used… more

Board of Directors, Bylaws, Controlling Stockholders, Fiduciary Duty, Minority Shareholders

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Georgia Enacts New Laws Relating to Paid Sick Leave and Pay for Schedule Changes

On May 8, 2017, Georgia Governor Nathan Deal signed two employment-related laws, both of which become effective on July 1, 2017. First, he signed the employee-friendly Act 203 (S.B. 201). Under the new law, if an employer… more

Governor Deal, Local Ordinance, New Legislation, On-Call Employees, Paid Family Leave Law

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2023 Annual Review: Key U.S. Trade Secret Developments

On January 5, 2023, President Biden signed the Protecting American Intellectual Property Act of 2022 (“PAIPA”) into law. PAIPA requires that the President submit an annual report identifying and describing any “significant trade… more

Defend Trade Secrets Act (DTSA), Federal Trade Commission (FTC), Intellectual Property Litigation, Intellectual Property Protection, Non-Compete Agreements

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Balance is Key in Design Patent Claim Drafting

The Patent Trial and Appeal Board recently designated as informative its decision instituting post-grant review and addressing the issues of design patent functionality in Sattler Tech Corp. v. Humancentric Ventures, LLC. No… more

Design Patent, Functionality, Intellectual Property Protection, Ornamental Design, Patent Applications

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APAC ESG Update | Spring Quarter 2024

This White Paper focuses on ESG developments through the Asia-Pacific (“APAC”) region since the start of 2024. For businesses present in the APAC region, as well as doing business there, it is imperative to be vigilant of the… more

Asia Pacific, Climate Action Plan, Climate Change, Environmental Protection Agency (EPA), Environmental Social & Governance (ESG)

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The Regulation of Private Markets in Australia—Where to Next?

The Australian Securities & Investments Commission ("ASIC") is increasing its focus on private markets, adopting a similar approach to other international regulators. Following on from its introduction of a dedicated private… more

ASIC, Australia, Capital Markets, Corporate Governance, Investment Funds

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

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The Federal Circuit Expands Scope of Domestic Industry Requirement in Lashify

In Lashify v. ITC, the Federal Circuit held that the economic prong of the domestic industry requirement, which is a precondition for obtaining International Trade Commission Section 337 relief, can be satisfied with investments… more

Appeals, Corporate Counsel, Enforcement Actions, Intellectual Property Protection, Patent Infringement

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Australian Financial Services Regulatory Update | January-June 2024

Recent legal and regulatory developments, including the joint release of APRA and ASIC guidance concerning the new Financial Accountability Regime, APRA's announcement that it will publish superannuation expense data to enhance… more

AML/CFT, ASIC, Australia, Banks, Climate Change

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Vital Signs Digital Health Law Update | Spring 2023

Note From the Editors - This edition of Vital Signs is filled with digital health developments from around the world. In Industry Insights, you'll see and hear from Alexis Gilroy and Claire Castles, each in a short video… more

Clinical Trials, Data Collection, DEA, Department of Health and Human Services (HHS), Digital Health

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Federal Court Holds False Claims Act's Qui Tam Provisions Unconstitutional

In a potentially seismic development, a federal district court held that the False Claims Act's qui tam provisions violate the Constitution's Appointments Clause—a ruling that, if upheld, would upend the landscape of FCA… more

Article II, Constitutional Challenges, False Claims Act (FCA), Qui Tam

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Navigating Tariffs and Income Taxes and Transfer Pricing

In this new trade landscape, it is more important than ever to coordinate customs and operational planning with income taxes and transfer pricing… more

Customs, First Sale Doctrine, Foreign Policy, Foreign Relations, Goods or Services

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European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

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Japanese Supreme Court: Building a System That Includes a Server Located Outside Japan Constitutes Patent Infringement

On March 3, 2025, the Japanese Supreme Court held that building a network-based system comprised of a server located in the United States, connected via a network to user terminals in Japan, constitutes "producing a product"… more

Intellectual Property Litigation, Intellectual Property Protection, International Trade, Japan, Patent Infringement

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Amendments to Australia's Modern Slavery Act Anticipated Following Statutory Review

In Short - The Situation: In 2018, the Australian federal government obligated Australian corporates to engage with modern slavery risks in their supply chain by enacting the Modern Slavery Act 2018 (Cth) ("the Act")… more

Australia, Forced Labor, Human Rights, Modern Slavery Act, Slavery

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Crypto Exchange-Traded Products: Navigating the Intersection of Crypto and Securities

Direct ownership of crypto-assets or mere exposure to the value of crypto-assets is an investment decision, with both investment methods requiring specific approaches to mitigate and manage risks effectively… more

Cryptoassets, EU, Exchange-Traded Products, Financial Conduct Authority (FCA), Financial Markets

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President Biden Issues Executive Order Modifying Restrictions on U.S. Investment in Chinese Military-Industrial Complex Companies

The Situation: As part of a series of recent executive actions regarding the People's Republic of China ("PRC"), President Biden issued a new executive order on June 3, 2021—Executive Order 14032—that refines novel sanctions… more

Biden Administration, China, Defense Sector, Executive Orders, Foreign Policy

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Could the SEC's Enforcement Spotlight Return to Executive Perks?

The Securities and Exchange Commission ("SEC") is hosting a roundtable discussion on disclosures just weeks after reports of significant increases in executive perks… more

Compensation & Benefits, Corporate Governance, Disclosure Requirements, Executive Compensation, Regulatory Agenda

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The Climate Report | Second Quarter 2025

Trump Paves Way for Coal Renaissance and Targets State Climate Change Efforts - In early April, President Trump issued several presidential actions to revive the coal industry, including rolling back environmental regulations… more

Climate Action Plan, Climate Change, Congressional Review Act, Deregulation, Energy Policy

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Class Actions Worldview - A Study of Trends Around the Globe: A Compendium Of Jones Day’s Five-part Series Published In 2023 And 2024

Class action procedures vary greatly among jurisdictions. These differences include how developed the procedures are; the types of claims parties can bring; the parties that can represent classes; whether classes are structured… more

Class Action, Class Certification, Class Representatives, Collective Actions, Corporate Counsel

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Subsequent Challenge Does Not Justify Discretionary Denial

In a recent decision, Acting Director Coke Morgan Stewart denied a Patent Owner’s request for discretionary denial in LifeVac, LLC v. DCSTAR, Inc., IPR2025-00454. Even though Petitioner had previously challenged the same patent… more

Denial of Institution, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Judicial Discretion, Patent Infringement

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EU Gigabit Infrastructure Act Paves Way for More Access to Physical Infrastructures and Potential Further Deregulation of Telecom Sector

The Situation: The European Parliament and Council approved the Gigabit Infrastructure Act ("GIA") on 29 April 2024. The GIA replaces Directive 2014/61/EU. The GIA is a regulation which is directly applicable and binding in all… more

Broadband, Electronic Communications, EU, European Commission, European Parliament

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Court Rules DOL's ALJ Enforcement Scheme Likely Unconstitutional

A government contractor challenged a U.S. Department of Labor ("DOL") Office of Federal Contract Compliance Programs ("OFCCP") enforcement scheme in federal court as violating the United States Constitution. The contractor… more

Administrative Law Judge (ALJ), Article II, Constitutional Challenges, Corporate Counsel, Department of Labor (DOL)

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Vaccination FAQs for European Employers

The Situation: With COVID-19 vaccination campaigns underway throughout Europe, employers are eager for a return to pre-pandemic activities. However, given the pace of the vaccine roll-out and ongoing workplace restrictions and… more

Coronavirus/COVID-19, Employer Liability Issues, Employment Policies, EU, Infectious Diseases

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FTC Imposes Record Fine on Texas Energy Companies for HSR "Gun Jumping"

During antitrust review between M&A signing and closing, HSR rules restrict an acquiror from beginning to control the target's business… more

Acquisition Agreements, Antitrust Provisions, Antitrust Violations, Competition, Enforcement Actions

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Cases Pending Before September 1, 2024, Cannot Be Removed to Texas Business Court, Dallas Court Holds

In the first opinion to address the issue, the Texas Business Court determined that it lacks jurisdiction over cases pending before September 1, 2024, even if the cases otherwise meet the jurisdictional requirements of the… more

Business Court, Business Disputes, Business Litigation, Lack of Jurisdiction, Remand

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Product Regulation and Metrology Bill Receives Royal Assent

The Product Regulation and Metrology Act 2025 reforms the UK's post-Brexit product safety, metrology, and consumer protection frameworks… more

Consumer Protection Laws, Environmental Policies, EU, Information Sharing, Manufacturers

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Don’t Save The Best: Federal Circuit Confirms Broad IPR Estoppel

The patent fight between Caltech and Broadcom/Apple made waves this month when the Federal Circuit vacated the $1.1 billion infringement award that Caltech had won in district court… more

Apple, Broadcom, Estoppel, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding

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SEC Approves New Board Diversity Disclosure Requirements for Nasdaq-Listed Companies

The Board Diversity Proposal generally requires each Nasdaq-listed company "to have, or explain why it does not have, at least two members of its board of directors who are Diverse," defined as at least one director who… more

Board of Directors, Corporate Governance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), LGBTQ

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Controlling Stockholder Exercising Voting Power as Stockholder to "Change the Status Quo" Owes Fiduciary Duties

The Background: After unsuccessfully trying to convince the special committee not to implement a plan to liquidate a business line, which the controlling stockholder believed would destroy value, the controlling stockholder used… more

Board of Directors, Bylaws, Controlling Stockholders, Fiduciary Duty, Minority Shareholders

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Medicare's Innovation Center Charts New Direction: Part 2 – Digital Health and AI

The Center for Medicare and Medicaid Innovation ("CMMI") is set to reshape value-based care. In the second of a three-part series highlighting this new direction, this summary is focused on CMMI's efforts regarding digital… more

AI Act, Artificial Intelligence, Centers for Medicare & Medicaid Services (CMS), CMMI, Comment Period

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CJEU Ruling on Asymmetric Jurisdiction Clause Validity—Towards (un)Certainty?

The Court of Justice of the European Union ("CJEU") recently issued an important ruling in the case of Società Italiana Lastre SpA (SIL) v. Agora SARL (C-537/23). The decision addresses the validity criteria of asymmetric… more

Business Litigation, Choice-of-Law, Commercial Litigation, Contract Disputes, Contract Terms

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Antitrust/M&A - Year-in-Review 2024

2024 was a significant year for merger enforcement worldwide. In the United States, the Biden administration continued the aggressive approach reflected in the revamped Merger Guidelines issued in December 2023. In Europe, the… more

Acquisition Agreements, Anti-Competitive, Antitrust Provisions, Competition, Corporate Sales Transactions

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Significant Reforms on the Horizon for Security of Payment in Victoria’s Construction Industry

Like similar regimes in other States, the Building and Construction Industry Security of Payment Act 2002 (VIC) (“Victorian SOPA”) was intended to reduce insolvency in the construction industry and enhance cash flow for… more

Australia, Conditions of Payment, Construction Contracts, Construction Project, Contract Terms

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SEC's Unwavering Focus on Disclosure of Valuation Methods and Calculation of IRRs by Fund Sponsors

The recent SEC subpoena of a fund sponsor for additional information concerning how it calculates internal rates of return ("IRRs") indicates that investment performance disclosure, and specifically the calculation of IRRs,… more

Disclosure Requirements, Enforcement Actions, Fund Sponsors, Internal Rate of Return (IRR), Investment Management

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EU Releases Data Act to Facilitate Access and Use of Data

On 22 December 2023, the Regulation on harmonized rules on fair access to and use of data ("Data Act") was published in the EU's Official Journal. The Data Act lays down rules on fair access to and use of personal and… more

DATA Act, Data Management, Data Protection, EU, EU Data Protection Laws

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Congress Expands Orphan Drug Exemptions From Medicare Price Negotiations

The One Big Beautiful Bill Act ("OBBB") expands exemptions for orphan drugs from mandatory Medicare price negotiations and modifies their eligibility timeline… more

Drug Pricing, Health Insurance, Healthcare, Medicare, New Legislation

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SEC Enforcement in Financial Reporting and Disclosure: Year-End 2021 Update

We are pleased to present our year-end update on financial reporting and issuer disclosure enforcement activity. This White Paper primarily focuses on the U.S. Securities and Exchange Commission’s (“SEC”) enforcement activity… more

Disclosure Requirements, Enforcement Actions, Financial Reporting, Publicly-Traded Companies, Securities and Exchange Commission (SEC)

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Justice Department Issues Final Rule on Bulk Transfers of Sensitive Personal Data to Certain Countries

The final rule establishes prohibitions and restrictions on the transfer of certain data due to national security risks from specified countries of concern… more

Data Brokers, Data Privacy, Data Protection, Data Transfers, Department of Justice (DOJ)

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European Commission Proposes Further Prohibitions of Territorial Restrictions on Branded Products

Future prohibition on territorial supply constraints would expand EU law to prohibit certain unilateral conduct by large manufacturers… more

Antitrust Provisions, Competition, EU, European Commission, Goods or Services

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Federal Agencies Coordinate Action Against Celsius for Fraud and Manipulation

In Short - The Situation: In parallel federal actions, the Department of Justice ("DOJ"), Securities and Exchange Commission ("SEC"), Commodity Futures Trading Commission ("CFTC"), and Federal Trade Commission ("FTC")… more

CFTC, Cryptoassets, Cryptocurrency, Decentralized Finance (DeFi), Department of Justice (DOJ)

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Chile’s Proposed Constitutional Changes to Natural Resource Rights Could Have Devastating Effects on Foreign Investors: How Can International Law Protect Them?

Chile is currently considering a new Constitution—due to be put to a referendum in September—and foreign investors should be aware of its potential impact on their investments in the country. The proposed changes in the draft… more

Chile, Foreign Investment, Investors, Mining, Natural Resources

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Business Restructuring Review Vol. 24, No. 2 | March–April 2025

Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision… more

Assignments, Bankruptcy Court, Chapter 11, Chapter 15, Comity

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The Climate Report | Fourth Quarter 2024

New ESG regulations are expected to have a significant impact on disclosure and governance obligations for EU and non-EU companies alike, including extensive sustainability reporting and due diligence requirements on… more

Carbon Emissions, Climate Action Plan, Climate Change, Coal Mines, Energy Policy

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Federal Circuit: RPI Arguments Must First Be Raised at the PTAB

Apple Inc., et. al v. Gesture Technology Partners, LLC (March 4, 2025) (Moore (Chief Judge), Prost and Stoll) (on appeal from the Patent Trial and Appeal Board) [WAIVER; OBVIOUSNESS] … more

Appeals, Apple, Claim Construction, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding

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EU Markets Become More Accessible to Small and Medium-Sized Enterprises Thanks to Changes to the EU Prospectus Regulation: A Welcome Development for Companies Active in the Medical Sector

The European Union ("EU") Listing Act, approved by the EU Council on October 8, 2024, introduces key changes to the EU Prospectus Regulation, offering greater flexibility to access and issue securities on EU markets for small… more

Capital Markets, EU, European Commission, Healthcare, Initial Public Offering (IPO)

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Corporate Real Estate Transactions in the UK: Beware Remediation Contribution Orders

Remediation Contribution Orders require developers, landlords, or their associated entities to contribute to the cost of remediating building safety risks in England and Wales. Since the jurisdiction to make this order was… more

Beneficial Owner, Landlords, Real Estate Transactions, Remediation, Statutory Requirements

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Berlin Rent Cap Act Finally Adopted but Uncertainties Remain

The Situation: Over the past decade, Berlin has experienced a significant rent increase for residential space though rents still remain significantly lower than rents in other European capitals. On January 30, 2020, the… more

Germany, Landlords, Rent Caps, Rent Control, Rental Property

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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Capital Markets, EU, European Banking Authority (EBA), European Commission

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Back to the Well: ARRC Seeks Market Input on Simplifying Spread Adjustment Calculation

The Development: The Alternative Reference Rates Committee ("ARRC") announced the results of its market consultation on the "spread adjustment" calculation for the LIBOR/SOFR transition on May 6, 2020, but found it necessary to… more

Alternative Reference Rates Committee (ARRC), Banking Sector, Financial Markets, Interest Rates, ISDA

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Immigration Enforcement Directives Create New Hurdles for Hospitals Advancing Standard Patient Care

While hospitals will no longer be formally considered sensitive locations under new immigration directives, health care facilities and providers maintain responsibility to protect access to patient care and confidentiality… more

Data Privacy, Department of Homeland Security (DHS), EMTALA, Enforcement Actions, Health Care Providers

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Immutable Code Is Not Property: Fifth Circuit Reverses Tornado Cash Sanctions Ruling

The United States Court of Appeals for the Fifth Circuit ruled that the Office of Foreign Assets Control ("OFAC") exceeded the authority granted by the International Emergency Economic Powers Act ("IEEPA") when it added the… more

Blocked Person, Economic Sanctions, Enforcement Authority, International Emergency Economic Powers Act (IEEPA), Office of Foreign Assets Control (OFAC)

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Investment Arbitration in Latin America: Elections, Trade Agreements, and the ICSID

In November 2017, S&P Global Ratings declared Venezuela in default after it failed to make a $200 million coupon payment on its sovereign bonds. Many saw this coming. Since 2014, the country has been mired in a recession that… more

Arbitration, Bilateral Investment Treaties, Foreign Investment, Foreign Jurisdictions, ICSID

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White House Issues Executive Orders on AI Action Plan

The White House recently announced America's AI Action Plan (the "Plan")—sweeping federal AI policy reforms prioritizing innovation and deregulation of the artificial intelligence ("AI") industry… more

Artificial Intelligence, Data Centers, Executive Orders, Export Controls, Infrastructure

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IRS Issues Final Prevailing Wage and Apprenticeship Regulations for Clean Energy Tax Credits

The Background: The Inflation Reduction Act ("IRA") created or enhanced various tax credits for qualifying renewable energy projects. However, a taxpayer loses 80% of otherwise-available IRA credits unless prevailing wage… more

Apprenticeships, Clean Energy, Department of Labor (DOL), Employer Liability Issues, Energy Projects

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Japan's Amended Payment Services Act Could Prompt More Nonbank Entries Into Traditional Banking Services

The Situation: The amendment to the Payment Services Act ("PSA") of Japan took effect in May 2021, removing the current numerical transfer cap placed on fund transfer services by nonbank institutions. The Result: This… more

Financial Services Agency, Financial Services Industry, Japan, Money Transmitter, Nonbank Firms

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Global Enforcement And Asset Recovery Series - Series Article 2: Asset Disclosure

In the context of asset recovery, a successful outcome largely depends on the ability of a claimant to garner sufficient disclosure of assets that are amenable to enforcement. This, in turn, explains why the powerful injunctive… more

Asset Recovery, Corporate Structures, Criminal Prosecution, Debtors, Disclosure Requirements

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Minnesota Legislature Enacts Pay Transparency Law and Updates Paid Sick Leave and Other Employment Laws

Minnesota employers should be aware of several new employment laws that were included in the Omnibus Labor and Industry Policy bill and Omnibus Tax bill that were signed into law at the end of May, just before the close of the… more

Earned Sick and Safe Time Act, Employee Benefits, Employees, Employer Liability Issues, Equal Pay

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The UK, France, and Switzerland Form New Anti-Corruption Enforcement Task Force

On March 20, 2025, the UK's Serious Fraud Office ("SFO"), France's National Financial Prosecutor's Office ("PNF"), and the Office of the Attorney General of Switzerland ("OAG") announced the creation of a new task force to… more

Anti-Corruption, Bribery, Corporate Counsel, Corruption, Enforcement Actions

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Extraterritorial Reach of Italian/UK FDI Rules: Are In-Country Sales Sufficient Nexus?

In two recent decisions in the defense and national security sector, the Italian Foreign Direct Investment Authority ("FDI Authority") asserted jurisdiction in connection with two acquisitions of non-Italian companies that had… more

Defense Sector, Extraterritoriality Rules, Foreign Direct Investment, Government Agencies, Investors

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Cases Pending Before September 1, 2024, Cannot Be Removed to Texas Business Court, Dallas Court Holds

In the first opinion to address the issue, the Texas Business Court determined that it lacks jurisdiction over cases pending before September 1, 2024, even if the cases otherwise meet the jurisdictional requirements of the… more

Business Court, Business Disputes, Business Litigation, Lack of Jurisdiction, Remand

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New Fast-Track Liquidation Procedures in the Netherlands

The Background: On November 15, 2023, the Temporary Fast-Track Liquidation Transparency Act (Tijdelijke Wet Transparantie Turboliquidatie) (the "Act") came into force in the Netherlands, temporarily changing certain statutory… more

Bankruptcy Code, Commercial Bankruptcy, Disclosure Requirements, Fast Track Process, Legal Entities

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ECJ Antitrust Ruling Not Likely to Jump-Start EC Deal Challenges in "Gap Cases"

In Short - The Development: The Court of Justice of the European Union ("ECJ") annulled a General Court ("GC") ruling that had adopted a high standard of proof for the European Commission ("EC") to block transactions in… more

Antitrust Provisions, Competition, Corporate Counsel, EU, EU Merger Directive

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Directors Beware: How to Navigate Belgium's Latest Tort Liability Changes

The Situation: Tort liability rules for directors in Belgium changed significantly following the recent publication of a new Book 6 of the Civil Code. The new rules will enter into force on January 1, 2025… more

Belgium, Board of Directors, Civil Code, Liability, New Rules

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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Capital Markets, EU, European Banking Authority (EBA), European Commission

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Significant Changes to Dutch Employment Law Take Effect

The Situation: Several changes to Dutch employment law took effect January 1, 2020, most notably those resulting from the Labor Market in Balance Act. The Result: Businesses in the Netherlands must be aware of and comply with… more

Contract Terms, Employer Contributions, Employer Liability Issues, Employment Contract, Fixed-Term Labor Contracts

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Directors Beware: How to Navigate Belgium's Latest Tort Liability Changes

The Situation: Tort liability rules for directors in Belgium changed significantly following the recent publication of a new Book 6 of the Civil Code. The new rules will enter into force on January 1, 2025… more

Belgium, Board of Directors, Civil Code, Liability, New Rules

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Dutch Limited Partnerships Attractive Alternative to Luxembourg and Irish Fund Structuring

Proposed changes to Dutch tax law will make Dutch limited partnerships attractive private equity and venture capital fund and feeder fund alternatives to Irish and Luxembourg equivalents. A Dutch limited partnership… more

Business Entities, Business Taxes, Corporate Taxes, International Tax Issues, Limited Partnership Agreements

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Renegotiation of Existing BITs by the Netherlands May Directly Affect Current Investments

The Situation: The Netherlands has 79 bilateral investment treaties ("BITs") in place with non-EU countries. On March 22, 2019, the Dutch government published a new model BIT ("2019 Model") as a template for negotiating new… more

Arbitration, Bilateral Investment Treaties, Corporate Social Responsibility, Foreign Investment, ICSID

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Impact of the COVID-19 Outbreak on Internal Investigations: Whether and How to Investigate During a Global Pandemic

Companies face a myriad of issues as a result of the novel coronavirus (COVID-19) outbreak. One issue is how to address allegations of misconduct involving corporate personnel, including whether and how to conduct internal… more

Chief Compliance Officers, Compliance, Coronavirus/COVID-19, Internal Investigations

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Belgium Enacts Historic Corporate Law Reform

The Background: On February 28, 2019, the Belgian Parliament approved a historic company law reform. The Result: The new Belgian Code of Companies and Associations ("BCCA") becomes applicable on May 1, 2019, with staggered… more

Belgium, Board of Directors, Corporate Counsel, Corporate Governance, Equity Financing

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JONES DAY TALKS®: Real Assets Roundup Episode 2: A First Look at Data Centers: The Fourth Utility

Digital infrastructure assets provide and support communications and networking, data transfer and storage, and online services. They enable internet access, cloud computing, and emerging technologies including AI. Digital… more

Cloud Computing, Data Centers, Data Storage, Data Transfers, Digital Assets

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DOJ Criminal Division Announces Priority Enforcement Areas and Publishes Revised Enforcement Guidance

On May 12, 2025, the Department of Justice Criminal Division announced significant changes to its corporate white-collar criminal enforcement priorities. In line with the Trump administration’s recalibration toward prioritizing… more

Corporate Governance, Corporate Misconduct, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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2021 Mexican Constitutional Reform Bill: Proposed Changes for Foreign Investors in the Electricity Sector

On September 30, 2021, Mexican President Andrés Manuel López Obrador sent the Reform Initiative to the House of Representatives and the United Commission of Constitutional and Energy Matters for review and plenary voting… more

Electricity, Energy Policy, Energy Reform, Mexico, Oil & Gas

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Severed Knowledge: Negative Trade Secrets Through the Lens of Compartmentalized Memory

Since the passage of the Defend Trade Secrets Act ("DTSA") in 2016, courts have increasingly addressed the nuance of negative trade secrets—information about what does not work, often referred to as "negative know-how."… more

Business Litigation, Confidential Information, Damages, Defend Trade Secrets Act (DTSA), Intellectual Property Litigation

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Mexican Government Releases "Plan México"

The Mexican government recently launched the Mexico Plan (Plan México), a six-year strategy in collaboration with the federal government and the private sector intended to promote economic growth in Mexico… more

Automotive Industry, Biotechnology, Clean Energy, Economic Development, Energy Sector

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Constitutional Reform in Mexican Electricity Sector

New laws have been issued for the Mexican electricity sector, establishing a new dynamic between the public and private sectors… more

Clean Energy, Electricity, Energy Policy, Energy Projects, Energy Reform

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Federal Court Rejects CFPB's Novel Use of "Unfair, Deceptive, or Abusive Acts or Practices" Authority

Ruling concludes "unfairness" authority under the Dodd-Frank Act does not cover discrimination. On September 8, 2023, a federal district court rejected the Consumer Financial Protection Bureau's ("CFPB") interpretation that… more

Anti-Discrimination Policies, Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Dodd-Frank, ECOA

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Drop a Dime, Get a Dollar: DOJ's Antitrust Division and U.S. Postal Service Unveil Whistleblower Program

On July 8, 2025, the Department of Justice ("DOJ") and the U.S. Postal Service ("USPS") announced a Whistleblower Rewards Program that will provide financial incentives to individuals who report antitrust crimes and related… more

Antitrust Provisions, Antitrust Violations, Competition, Criminal Convictions, Department of Justice (DOJ)

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Jones Day Cross-Border Investigations Series 2023 - Issue 1 : Whistleblowing

While there are a number of ways in which organizations may become aware of potential wrongdoing internally, perhaps the most significant for its legal and compliance teams is internal reporting, or “whistleblowing,” by… more

Cross-Border, Cross-Border Transactions, Employment Rights Act, EU, Financial Conduct Authority (FCA)

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U.S. Supreme Court Rules Appellate Protection of Bankruptcy Property Sale Is Subject to Waiver and Estoppel

In Short - The Situation: The U.S. Supreme Court considered whether § 363(m) of the Bankruptcy Code, which limits a party's ability to undo an asset transfer made to a good-faith purchaser in a bankruptcy case, is… more

363 Sales, Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy

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New White House Report Outlines U.S. Policy for Digital Assets

President Trump's "Working Group on Digital Asset Markets" recently released a report with a strategic roadmap to advance American leadership in digital financial technology… more

Anti-Money Laundering, Bank Secrecy Act, Blockchain, Cryptoassets, Cryptocurrency

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The Climate Report | First Quarter 2020

Climate Change Regulatory Issues & Updates - Trump Administration Plans Overhaul of NEPA Review Process The proposed rule changes would considerably limit the scope of environmental reviews of planned energy and… more

Clean Air Act, Climate Change, Deregulation, Energy Sector, Environmental Policies

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HHS Pilot Program to Evaluate 340B Drug Pricing Program Rebate Models

The Health Resources and Services Administration ("HRSA") plans to implement a limited pilot program that will allow approved manufacturers to issue post-purchase rebates for 340B covered outpatient drugs rather than upfront… more

Centers for Medicare & Medicaid Services (CMS), Department of Health and Human Services (HHS), Drug Pricing, Health Insurance, Healthcare

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New French Incentives for Green Buildings and Green Industry

As part of the 2022 French Climate & Resilience Law, the French legislature decided to strengthen the greening and solarization requirements on certain buildings and parking lots. These obligations came into force on January 1,… more

Climate Action Plan, Climate Change, France, Green Buildings, Green Infrastructure

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New Year, New Mass Arbitration Rules From the AAA

On January 15, 2024, the American Arbitration Association ("AAA") published updates to its Mass Arbitration Supplementary Rules and Fee Schedule, aimed at streamlining the mass arbitration process and reducing costs… more

American Arbitration Association, Arbitration, Arbitration Agreements, Arbitrators, Business Disputes

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Ninth Circuit Dismisses Major Climate Change Lawsuit Against the Federal Government - Court rejects request for extraordinary relief in opinion that could prove useful in other climate change litigation.

The private sector is increasingly the target of climate change litigation. These lawsuits seek to hold private companies liable for climate change under state public and private nuisance law. Although the most recent wave of… more

Article III, Carbon Emissions, Causation, Climate Change, Due Process

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European Parliament's New Study on Generative AI and Copyright Calls for Overhaul of Opt-Out Regime

On July 9, 2025, the European Parliament's Committee on Legal Affairs ("JURI") published a study examining how generative artificial intelligence ("AI") interacts with European Union copyright law… more

AI Act, Artificial Intelligence, Copyright, Court of Justice of the European Union (CJEU), Data Mining

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Germany Launches EUR 50 Billion Funding Program for Decarbonization of Heavy Industry

Germany has launched a massive EUR 50 billion funding program to support energy-intensive industries such as steel, chemical, and cement to become climate-neutral. The program offers considerable financial support for companies… more

Carbon Emissions, Climate Action Plan, Climate Change, Critical Infrastructure Sectors, Environmental Social & Governance (ESG)

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Understanding DORA: Digital Operational Resilience Act Now in Effect for Financial Entities and ICT Service Providers

DORA, the first EU regulation designed to establish a unified and robust digital resilience standard for the financial sector, becomes directly applicable on January 17, 2025, introducing significant penalties and consequences… more

Compliance, Cybersecurity, Data Privacy, Data Protection, Digital Operational Resilience Act (DORA)

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Business Restructuring Review Vol. 24, No. 4 | July–August 2025

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the “Ad Hoc Group”) obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company’s long-running, hard-fought bankruptcy case. Once the… more

Appeals, Bankruptcy Code, Bankruptcy Court, Borrowers, Chapter 11

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EU Foreign Subsidies Regulation: European Commission Launches Consultation on Guidelines

The European Commission seeks stakeholders' views on the guidelines for the application of the Foreign Subsidies Regulation ("FSR")… more

Competition, Corporate Sales Transactions, EU, European Commission, Foreign Investment

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New CFTC Cooperation, Self-Reporting, and Remediation Enforcement Advisory Introduces Major Changes

The Commodity Futures Trading Commission's ("CFTC") new enforcement advisory introduces several major changes in policy and a matrix helping those facing potential or actual CFTC investigations quantify the extent to which… more

CFTC, Cooperation, Enforcement Actions, Enforcement Guidance, Financial Services Industry

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The Climate Report | Third Quarter 2024

REGULATORY ISSUES & UPDATES - Update on Australia's New Climate-Related Financial Disclosure Regime - Australia's mandatory climate-related financial disclosure regime is inching closer to implementation after the proposed… more

Clean Air Act, Clean Energy, Climate Change, Disclosure Requirements, Enforcement Actions

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Increase in Class Actions Alleging Violations of Massachusetts Lie Detector Statute

A federal court decision in Massachusetts denying a motion to dismiss a putative class action has spurred a potential wave of similar claims, all arising under the Massachusetts Lie Detector Statute. The statute requires… more

Employer Liability Issues, Employment Litigation, Motion to Dismiss, Notice Requirements, Putative Class Actions

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Updates on Proposed Stablecoin Legislation: the GENIUS Act and the STABLE Act

As Congress moves to enact comprehensive stablecoin legislation under the Trump administration, both the Senate and the House of Representatives have updated their respective payment stablecoin bills. Our recent Commentary… more

Anti-Money Laundering, Bank Secrecy Act, Digital Assets, Financial Institutions, Financial Regulatory Reform

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Navigating Trade Secret Identification During Discovery: Timing & Scope

A trade secret derives its value by being kept secret, yet a trade secret owner is required to identify its trade secret at some point during litigation to apprise the defendant as to what information was allegedly… more

Confidential Information, Defend Trade Secrets Act (DTSA), Disclosure, Discovery, Federal v State Law Application

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It's Time for a Fresh Look at DEI Metrics in Executive Compensation

The Background: It is estimated that over 84 percent of companies in the S&P 1500 use some form of "social" metric when determining their executives' incentive compensation. Many of these social metrics set forth diversity,… more

Anti-Discrimination Policies, Civil Rights Act, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG), Equal Protection

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DOJ Resumes FCPA Enforcement Under New Guidelines Prioritizing the Protection of American Interests

In response to President Trump's February 10, 2025, Executive Order pausing DOJ FCPA enforcement (the "Executive Order"), on June 9, 2025, the DOJ issued new guidelines (the "Guidelines"), which prioritize the enforcement of… more

Anti-Corruption, Bribery, Criminal Prosecution, Department of Justice (DOJ), Enforcement Actions

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FTC Weighs In on Orange Book Listing of Drug-Device Patents

On March 22, 2024, the Federal Trade Commission ("FTC") filed an amicus brief in Teva Branded Pharmaceutical Products R&D, et al. v. Amneal Pharmaceuticals of New York, LLC, et al., 2:23-cv-20964, U.S. District Court for the… more

Federal Trade Commission (FTC), Food & Drug Regulations, Food and Drug Administration (FDA), Healthcare, Intellectual Property Protection

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Taiwan Imposes New Reporting Obligation on Information of Company Shareholders

The Situation: On November 1, 2018, amendments to the Taiwan Company Act ("TCA") passed by the Taiwanese legislature on July 6, 2018 came into effect. The Result: While certain regulations have been relaxed and business… more

Board of Directors, Corporate Governance, Directors, Foreign Corporations, Regulatory Standards

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China Boosts Enforcement of Anti-Foreign Sanctions Law

China has recently taken several actions showing its commitment to counter trade restrictions imposed by other countries. In March 2025, it released regulations implementing the 2021 Anti-Foreign Sanctions Law. In tandem with… more

China, Economic Sanctions, Enforcement Actions, Exports, Foreign Policy

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China Boosts Enforcement of Anti-Foreign Sanctions Law

China has recently taken several actions showing its commitment to counter trade restrictions imposed by other countries. In March 2025, it released regulations implementing the 2021 Anti-Foreign Sanctions Law. In tandem with… more

China, Economic Sanctions, Enforcement Actions, Exports, Foreign Policy

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Taiwan Offshore Wind Farm Projects: Updates to Guide Investors and Financiers through the Legal and Regulatory Framework

In recent years, the Taiwanese Government set aggressive renewable energy targets, with a particular focus on the development of its offshore wind power capabilities. This exciting new market presents great opportunities for… more

Energy Policy, Energy Projects, Infrastructure, Investment Opportunities, Offshore Wind

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Global Enforcement And Asset Recovery Series - Article 1: Recognition And Enforcement Of Judgments And Arbitral Awards

Getting a judgment or award does not automatically mean getting paid. Particularly where judgment or award debtors are in less familiar jurisdictions, there can be a strong incentive to delay or avoid payment. From the… more

Arbitration, Arbitration Agreements, Arbitration Awards, Asset Recovery, Dispute Resolution

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EBA Recommends Adjustments to Proposed EU Green Bond Standard to Develop Sustainable Securitisation Market in Europe

EBA Report on Developing a Framework for Sustainable Securitisation - The EBA Report examines how sustainability could be introduced in the specific context of the securitisation market in order to support its sound… more

EU, European Banking Authority (EBA), Financial Services Industry, Institutional Investment, Regulatory Standards

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FAQs About the FTC Final Rule Banning Worker Noncompete Agreements

This week, the Federal Trade Commission (“FTC”) voted 3-2 along party lines to finalize a rule that bans noncompete clauses in employment agreements as a per se illegal “unfair method of competition” (“UMC”) under Section 5 of… more

Competition, Employees, Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC)

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European Aviation Arbitration Court Takes Flight

In Short - The Situation: In July 2022, the Netherlands Arbitration Institute launched the Hague Court of Arbitration for Aviation ("Hague CAA"), an aviation arbitration court and mediation center seated in The Hague,… more

Arbitration, Arbitration Agreements, Aviation Industry, Dispute Resolution

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Federal Reserve Withdraws Crypto-Related Guidance Including Notification Requirements for Banking Organizations

The Federal Reserve Board ("Board") softened its stance on regulation of crypto activity by banking organizations by rescinding supervisory letters that created hurdles for crypto-asset activities and by joining the Office of… more

Banks, Cryptocurrency, Digital Assets, FDIC, Federal Reserve

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Class Actions Worldview - A Study of Trends Around the Globe: A Compendium Of Jones Day’s Five-part Series Published In 2023 And 2024

Class action procedures vary greatly among jurisdictions. These differences include how developed the procedures are; the types of claims parties can bring; the parties that can represent classes; whether classes are structured… more

Class Action, Class Certification, Class Representatives, Collective Actions, Corporate Counsel

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JONES DAY PRESENTS®: Tax Implications of Telehealth as Remote Services Become Norm

As an integrated system of medicine, telehealth raises the potential for tax issues. Jones Day counsel Jennifer Waryjas explains why companies need to plan ahead and put strategies in place as they build and grow in this… more

Health Care Providers, Tax Liability, Telehealth

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Clean Fuel of the Future: Policy and Legislation Shaping Australia’s Hydrogen Industry

In recent years, the Australian federal government has committed, at both the domestic and international levels, to ambitious renewable energy targets. Australia’s hydrogen sector is positioning itself to play an increasingly… more

Alternative Fuels, Australia, Clean Energy, Climate Action Plan, Climate Change

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New Proposed Regulations Address Spin-Off Transactions

These proposed regulations applicable to tax-free spin-offs would impose a range of new substantive requirements and greatly expand the information that must be reported to the Internal Revenue Service ("IRS") by taxpayers who… more

Corporate Taxes, Filing Requirements, Internal Revenue Code (IRC), IRS, NPRM

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SEC Signals It Will Abandon Defense of Climate Disclosure Rule

Acting Securities and Exchange Commission ("SEC" or the "Commission") Chairman Mark Uyeda directed SEC staff to request that the Eighth Circuit Court of Appeals not schedule an oral argument in the pending litigation surrounding… more

Climate Change, Disclosure Requirements, Environmental Policies, Environmental Social & Governance (ESG), Greenhouse Gas Emissions

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2023 Securities Litigation Year in Review

During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings involving… more

Class Certification, Cryptocurrency, False Statements, Fiduciary Duty, Financial Institutions

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2022 & Beyond: Continued Challenges in the Automotive Supply Chain

While our inboxes are flooded on a daily basis with news about how the pandemic has created supply chain and commodities issues, global organizations must think about more than just near-term issues. Although the pandemic will… more

Antitrust Provisions, Automotive Industry, Environmental Social & Governance (ESG), Goods or Services, Manufacturers

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Unified Patent Court: First Ruling on Equivalent Infringement

The doctrine of equivalents is a staple patent law principle, addressing the tension between providing fair protection to innovative ideas and ensuring legal certainty for third parties. However, like most patent laws, the… more

Appeals, Corporate Counsel, Doctrine of Equivalents, EU, European Patent Convention

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SEC Enforcement in Financial Reporting and Disclosure: 2023 Year-End Update

We are pleased to present our latest update on financial reporting and issuer disclosure enforcement activity. This White Paper primarily focuses on the U.S. Securities and Exchange Commission’s (“SEC”) enforcement activity… more

Disclosure Requirements, Enforcement Actions, Financial Reporting, Securities and Exchange Commission (SEC), Securities Regulation

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Court Upholds California Climate Disclosure Laws—for Now

On August 13, 2025, the U.S. District Court for the Central District of California denied the U.S. Chamber of Commerce’s motion for a preliminary injunction seeking to halt enforcement of SB 253 (emissions disclosure) and SB 261… more

California, CARB, Chamber of Commerce, Climate Change, Constitutional Challenges

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EU Anti-SLAPP Directive: Public Participants May Claim Compensation for Strategic Litigation Outside EU

The European Union's Directive 2024/1069 (the "Directive") aims to protect individuals and organizations engaged in public participation (such as NGOs, journalists and academics) from strategic lawsuits against public… more

Anti-SLAPP, Damages, EU, EU Directive, International Litigation

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Conflict in Ukraine: Excuses for Non-Performance of Contracts Governed by German Law

Traditionally, industry in Germany has enjoyed close commercial ties with Russia and Ukraine. The ongoing conflict in Ukraine and the resulting sanctions imposed on Russia—and by Russia—will inevitably affect these business… more

Business Interruption, Contract Termination, Contract Terms, EU, Force Majeure Clause

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Innovative Insights: Legal Updates in Life Sciences | First Quarter 2025

Artificial intelligence is revolutionizing life science R&D (particularly in the realm of drug discovery) and challenging the traditional "human inventorship" requirement for U.S. patents. Recent guidance from the USPTO… more

Artificial Intelligence, Drug Pricing, Earn-Outs, Federal Funding, Foreign Aid

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New York Legislature Passes Bill Banning Rent Minimum Provisions in Real Estate Loan Documents

On June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents… more

Borrowers, Consumer Financial Products, Contract Terms, Financial Services Industry, Landlords

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PTAB Announces a Bifurcated Process for Consideration of IPR and PGR Petitions

A new interim process for the acting director to exercise discretion as to whether to institute an inter partes review ("IPR") or a post-grant review ("PGR") was announced on March 26, 2025, in which discretionary considerations… more

Administrative Procedure, Director of the USPTO, Filing Deadlines, Intellectual Property Litigation, Intellectual Property Protection

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Landmark European Commission Cartel Fines on No-poaching Agreements and Minority Shareholdings

European Commission ("EC") issues its first fining decision for a no-poach agreement, and also sanctions for the first time the exchange of sensitive information between a company and its competing, non-controlling minority… more

Acquisition Agreements, Anti-Competitive, Antitrust Violations, Competition Authorities, Corporate Counsel

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ASIC Enforcement of Australia's Continuous Disclosure Regime Gets a Boost Through Government Response to Independent Review on Continuous Disclosure Laws

The Australian federal government recently released its response to the independent review of Australia's amended continuous disclosure regime (the "Independent Review")… more

ASIC, Australia, Corporate Governance, Disclosure Requirements, Environmental Social & Governance (ESG)

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Minnesota Legislature Enacts Pay Transparency Law and Updates Paid Sick Leave and Other Employment Laws

Minnesota employers should be aware of several new employment laws that were included in the Omnibus Labor and Industry Policy bill and Omnibus Tax bill that were signed into law at the end of May, just before the close of the… more

Earned Sick and Safe Time Act, Employee Benefits, Employees, Employer Liability Issues, Equal Pay

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The Unshell Draft Directive: Only a Few Months Left to Comply?

A draft European Union ("EU") Directive tackling the use of shell entities for tax purposes is currently being negotiated, with potential corrective measures to be considered… more

EU, EU Directive, European Commission, Shell Corporations, Tax Authority

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One Big Beautiful Bill Act— Impact on Energy Tax Credits

The One Big Beautiful Bill Act (the “OBBBA”), which was passed on July 4, 2025, included several changes to the energy tax credits introduced and expanded by the Inflation Reduction Act of 2022 (the “IRA”). The key changes to… more

Clean Energy, Climate Change, Electric Vehicles, Energy Policy, Energy Tax Incentives

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Pay Equity and Transparency: Expanding Obligations for U.S. Employers with EU Operations

The Situation: While U.S. states continue to legislate pay equity and transparency obligations, significant changes are on the horizon in the European Union that will impact U.S. companies with sizeable operations there. The EU… more

Disclosure Requirements, Due Diligence, Employees, Employer Liability Issues, Equal Pay

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The CFTC Proposes Expansive Business and Governance Rules for Registered Derivatives Markets

The Commodity Futures Trading Commission ("CFTC") recently proposed new and modified conflicts of interest, fitness, and governance regulations for swap execution facilities ("SEFs") and designated contract markets ("DCMs")… more

CFTC, Commodity Futures Modernization Act of 2000 (CFMA), Corporate Governance, Derivatives, Designated Contract Markets (DCMs)

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Fiduciaries Beware: Employer Health Plan Under Fire for Alleged Prescription Drug Mismanagement

An employer health plan is the latest target of class action litigation seeking redress for the alleged conduct of the plan's pharmacy benefit manager ("PBM")… more

Class Action, Employee Benefits, Employer Group Health Plans, Employer Liability Issues, Employment Litigation

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House of Representatives Releases First Draft of Tax Reform Bill

The Situation: On November 2, 2017, the House Ways and Means Committee released its first draft of much-anticipated comprehensive U.S. tax reform legislation as the "Tax Cuts and Jobs Act." Chairman Brady’s markup of the bill… more

Acquisitions, Controlled Foreign Corporations, Corporate Taxes, Death Tax, EBITDA

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JONES DAY TALKS®: Five Pillars of Series A Shareholder Rights: A Discussion for VC Investors

The challenges and mechanics of growing a new venture are complex, and when the competing interests of different investor classes are considered, trouble and conflict are possible. As part of a continuing series of podcasts on… more

Business Formation, Capital Markets, Corporate Governance, Investors, Mergers

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German Federal Cartel Office signs-off on cooperation between pipeline operators

Like the European Commission in a series of other projects, the German Federal Cartel Office (FCO) assessed and signed-off on ESG-related collaboration between competitors… more

Antitrust Provisions, Carbon Capture and Sequestration, Competition, Energy Projects, Energy Sector

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Western Australia's New Class Actions Regime Commences

A significant newly enacted class actions regime has come into force in Western Australia, as of 25 March 2023. The Civil Procedure (Representative Proceedings) Act 2022 (WA) ("Act") was enacted in September 2022,… more

Australia, Class Action, Class Members

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Antitrust Alert: DOJ Challenges "Anticompetitive" Trade Association Rules for College Admission - If a trade association rule restricts competition, it must be reasonably necessary and tailored to achieve the procompetitive goals of the association.

In December 2019, the Department of Justice Antitrust Division ("DOJ") settled charges that certain National Association for College Admission Counseling ("NACAC") rules governing college admissions were anticompetitive under… more

Anti-Competitive, Bylaws, College Admissions, Colleges, Competition

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Navigating Indemnity Disputes in an Ever-Changing Legal Environment

In Short - The Background: Indemnity clauses are often included in contracts and can be extremely valuable, but they also raise many potential challenges to enforcing them, including state statutes, common law limitations,… more

Commercial General Liability Policies, Construction Contracts, Construction Project, Contract Disputes, Contract Terms

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Two U.S. Courts Address Fair Use in Generative AI Training Cases

Federal courts continue to address whether training artificial intelligence ("AI") models on copyrighted materials without a license constitutes copyright infringement… more

Algorithms, Artificial Intelligence, Books, Copyright, Copyright Infringement

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International Bar Association Releases Updated Guidelines on Conflicts of Interest

The Situation: In February 2024, the International Bar Association ("IBA") updated its Guidelines on Conflicts of Interest in International Arbitration ("Guidelines"). The Guidelines provide detailed guidance for arbitrators and… more

Arbitrators, Conflicts of Interest, Disclosure Requirements, Failure To Disclose, Global Disputes

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Business Restructuring Review Vol. 23 No. 2 | March–April 2024

Established in 2015 as a trusted neutral forum to meet increasing demand for effective transnational dispute resolution, the Singapore International Commercial Court (the “SICC”) is a division of the General Division of the High… more

Arbitration, Arbitration Agreements, Bankruptcy Code, Bankruptcy Court, Chapter 11

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PTAB Upholds GILENYA™ Method of Treatment Patent, Prompting New ANDA Litigation

In Apotex Inc. v. Novartis AG, IPR2017-00854, Paper 109 (Jul. 11, 2018), the PTAB held that the claims of U.S. Patent No. 9,187,405 were not unpatentable on three separate grounds. Shortly thereafter, Novartis filed suit against… more

Abbreviated New Drug Application (ANDA), Generic Drugs, Inter Partes Review (IPR) Proceeding, Obviousness, Patent Infringement

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Biden Administration Issues Proposed Rule Seeking to Strengthen Buy American Requirements

The Biden administration's newly proposed rule would increase Buy American Act requirements and impose new reporting obligations. On July 30, 2021, the Biden administration issued a proposed rule to amend the Federal Acquisition… more

Biden Administration, Buy American Act, Domestic Transactions, Federal Acquisition Regulations (FAR), Federal Contractors

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Senate Passes GENIUS Act, Clearing Hurdle for Federal Stablecoin Framework

The vote marks the first time the U.S. Senate has passed significant digital asset legislation and puts the industry one step closer to regulatory clarity for certain stablecoins… more

Banks, Cryptocurrency, Digital Assets, Financial Institutions, Financial Regulatory Reform

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Business Restructuring Review Vol. 21, No. 6 | November-December 2022

On October 14, 2022, the U.S. Court of Appeals for the Fifth Circuit issued a long-awaited ruling on whether Ultra Petroleum Corp. (“UPC”) must pay a $201 million make-whole premium to noteholders under its confirmed chapter 11… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Chapter 15, Chapter 7

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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Bill Seeks to Restrict 30-Month Stay in Hatch-Waxman Litigation to One Patent

Senate Bill S. 4878 seeks to force innovator pharmaceutical companies to select a single Orange Book listed patent for the 30-month stay… more

Abbreviated New Drug Application (ANDA), FDA Approval, Generic Drugs, Hatch-Waxman, Healthcare

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SEC Reopens Comment Period for Rule Proposing New Disclosures for Security-Based Swaps

The Situation: The Securities and Exchange Commission ("SEC") has reopened the comment period for its proposed rule requiring public disclosure of security-based swap ("SBS") positions that exceed certain thresholds… more

Administrative Procedure Act, Comment Period, Disclosure Requirements, Legal Entity Identifiers, Proposed Rules

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APAC ESG Update | Spring Quarter 2024

This White Paper focuses on ESG developments through the Asia-Pacific (“APAC”) region since the start of 2024. For businesses present in the APAC region, as well as doing business there, it is imperative to be vigilant of the… more

Asia Pacific, Climate Action Plan, Climate Change, Environmental Protection Agency (EPA), Environmental Social & Governance (ESG)

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Reform of the EU Securitisation Framework—Part 6: Changes to the Supervisory Regime

On 17 June 2025, the European Commission (the "Commission") published its proposed measures to revive the securitisation framework in the European Union ("EU"), with a view to making it simpler and more fit for purpose. This… more

Asset-Backed Securities, Capital Markets, EU, European Banking Authority (EBA), European Commission

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Business Restructuring Review Vol. 23 No. 4 | July–August 2024

The U.S. Supreme Court handed down three bankruptcy rulings to finish the current Term. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance companies to object… more

Bankruptcy Code, Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Chapter 7

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FDA Announces Overhaul of Human Foods Program

On January 31, 2023, the Food and Drug Administration ("FDA") announced plans to redesign its Human Foods Program (the "Program") to better coordinate the agency's regulation of food products… more

Dietary Supplements, Food and Drug Administration (FDA), Food Safety, Food Supply

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FAQs About the FTC Final Rule Banning Worker Noncompete Agreements

This week, the Federal Trade Commission (“FTC”) voted 3-2 along party lines to finalize a rule that bans noncompete clauses in employment agreements as a per se illegal “unfair method of competition” (“UMC”) under Section 5 of… more

Competition, Employees, Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC)

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The Regulation of Private Markets in Australia—Where to Next?

The Australian Securities & Investments Commission ("ASIC") is increasing its focus on private markets, adopting a similar approach to other international regulators. Following on from its introduction of a dedicated private… more

ASIC, Australia, Capital Markets, Corporate Governance, Investment Funds

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Illinois Restricts Employers From Using Conviction Records in Making Employment Decisions

The Situation: Recent amendments to the Illinois Human Rights Act ("IHRA") restrict Illinois employers from relying upon conviction records to make adverse employment decisions unless they comply with new substantive and… more

Criminal Background Checks, Criminal Records, Employer Liability Issues, Hiring & Firing

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A Review of 2024 Labor & Employment Legislation in California

The 2024 California legislative session saw the passage of a number of new and important labor and employment laws… more

California, Employee Benefits, Employees, Employer Liability Issues, Employment Policies

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SEC Adopts Long-Awaited and Heavily Debated Private Fund Adviser Rules

The U.S. Securities and Exchange Commission ("SEC") adopted multiple rules that will impact private funds, governing documents, and side letters… more

Financial Services Industry, Investment Adviser, New Rules, Private Equity, Private Funds

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Texas Enacts Business-Friendly Reforms in Bid to Dethrone Delaware’s Corporate Dominance

The Texas Legislature recently has taken Texas-sized steps intended to make the state a more attractive place for companies to form, reincorporate, or relocate, further advancing Texas’s efforts to rival Delaware as a… more

Attorney's Fees, Business Court, Business Entities, Business Formation, Corporate Governance

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German Court Dismisses Climate-Related Lawsuit Against Volkswagen AG

The regional court of Braunschweig, as competent court for the headquarters of Volkswagen AG ("VW"), rendered a decision that is a significant setback for climate litigation activists in Germany by fully dismissing a… more

Automotive Industry, Carbon Emissions, Climate Action Plan, Climate Change, Environmental Policies

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D.C. Circuit Allows Challenge to Counsel's Authority to Enforce International Arbitration Award

The D.C. Circuit has approved a backdoor challenge to the validity of an international arbitration award, finding that a challenge to counsel's authority to enforce an award can never be forfeited… more

Appeals, Arbitration, Arbitration Agreements, Arbitration Awards, Enforcement Authority

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FTC Finalizes Amendments to the Children's Online Privacy Protection Act Rule

On April 22, 2025, the Federal Trade Commission ("FTC") published the finalized amendments to the Children's Online Privacy Protection Act ("COPPA") Rule (the "Rule"), marking the first major update since 2013… more

COPPA, Data Privacy, Federal Trade Commission (FTC), FERPA, Final Rules

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Takeaways From Motion to Amend Pilot Program Chat

The USPTO hosted a “Boardside Chat” on June 15, 2023, to discuss the Motion to Amend Pilot Program, including the recent call for public input on the PTAB’s existing claim amendment procedures and potential rule changes. The… more

Motion to Amend, Patent Ownership, Patent Trial and Appeal Board, Patents, Pilot Programs

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Amendments to Hong Kong Listing Rules Relating to PRC Issuers

The Hong Kong Listing Rule amendments relating to People's Republic of China ("PRC") issuers came into effect on August 1, 2023… more

Amended Regulation, Capital Markets, China, Hong Kong, Hong Kong Stock Exchange

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2022 Anti-Money Laundering and Sanctions Year in Review

In 2022, anti-money laundering ("AML") and sanctions controls were at the center of regulatory and enforcement activities in the United States and abroad. Globally, governments have continued to recognize the impact of AML… more

Anti-Money Laundering, Bank Secrecy Act, Financial Crimes, Financial Institutions, Financial Transactions

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China Unveils New Anti-Monopoly Guidelines for the Pharmaceutical Sector

China's State Council issued new Anti-Monopoly Guidelines for the Pharmaceutical Sector (the "Guidelines") effective January 24, 2025. The Guidelines provide a comprehensive framework for the State Administration for Market… more

Acquisition Agreements, Anti-Monopoly, Antitrust Provisions, China, Competition

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LKQ v. GM: PTAB and Examiner Guidance on Design Patent Obviousness from USPTO

Those following this blog knew change was coming to design patent obviousness in the LKQ v. GM decision by the en banc Federal Circuit. In its May 21, 2024 decision, the court overruled the long-standing Rosen-Durling test that… more

Design Patent, Examiners, Intellectual Property Protection, Inter Partes Review (IPR) Proceeding, Obviousness

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Vital Signs: Digital Health Law Update Winter 2022

Note From the Editors With 2022 well underway, the rapid pace of statutory, regulatory, policy, and industry activities in digital health continues in force. We bring you Vital Signs, a curated, one-stop resource on the most… more

Artificial Intelligence, Centers for Medicare & Medicaid Services (CMS), DEA, Digital Health, Enforcement Actions

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Actions in 2020 May Imperil Illinois Nonresident Taxpayer Positions in 2021

The Situation: Currently, married taxpayers can file joint federal income tax returns but file separate Illinois income tax returns if one spouse is not a resident of Illinois. The Development: New legislation would prohibit… more

Filing Requirements, Governor Pritzker, Income Taxes, Joint and Several Liability, Joint Tax Returns

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China Boosts Enforcement of Anti-Foreign Sanctions Law

China has recently taken several actions showing its commitment to counter trade restrictions imposed by other countries. In March 2025, it released regulations implementing the 2021 Anti-Foreign Sanctions Law. In tandem with… more

China, Economic Sanctions, Enforcement Actions, Exports, Foreign Policy

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2024 Securities Litigation Year in Review

Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The number… more

Capital Markets, Class Action, Corporate Counsel, Financial Markets, Regulatory Violations

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White House Releases Plan to Build U.S. AI Infrastructure

On July 23, 2025, the White House released "America's AI Action Plan" (the "Plan"), a comprehensive federal strategy to secure U.S. global leadership in artificial intelligence ("AI"). The Plan is structured around three… more

Artificial Intelligence, Clean Water Act, Data Centers, Department of Energy (DOE), Environmental Policies

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A Review of 2024 Labor & Employment Legislation in California

The 2024 California legislative session saw the passage of a number of new and important labor and employment laws… more

California, Employee Benefits, Employees, Employer Liability Issues, Employment Policies

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China's Revised Company Law Introduces Significant Changes for Foreign Investors

The Situation: On December 29, 2023, the Standing Committee of the National People's Congress of the People's Republic of China ("PRC" or "China") promulgated the amended Company Law of the PRC ("New Company Law"). The New… more

Business Entities, China, Corporate Governance, Foreign Investment, Limited Liability Company (LLC)

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Generative AI Generates Excitement—and Copyright Concerns

In Short - The Situation: Workforces are increasingly using generative artificial intelligence ("AI") platforms to generate diverse content ranging from marketing materials, translations, source code, and more… more

Artificial Intelligence, Authorship, Copyright, Copyright Infringement, Copyright Registration

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Federal Circuit Finds Deuterated Analogs Of Small Molecule Drug Obvious

On August 22, 2023, the Federal Circuit issued a nonprecedential decision holding that claims directed to deuterated analogs of ruxolitinib were unpatentable as obvious. Sun Pharm. Indus., Inc. v. Incyte Corp., No. 2019-2011,… more

Healthcare, Intellectual Property Protection, Life Sciences, Obviousness, Patent Infringement

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NIST Updates Its Privacy Framework to Address AI

The National Institute of Standards and Technology ("NIST") recently updated its 2020 Privacy Framework 1.0 to include artificial intelligence ("AI") risk management… more

Artificial Intelligence, Data Privacy, Innovative Technology, Machine Learning, NIST

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Maximizing Insurance Recoveries for the 2018 Hurricane Season

The Situation: On August 23, 2018, Hurricane Lane made landfall on Hawaii, dropping more than 52 inches of rainfall—the second-highest storm rainfall total in U.S. history. The Result: Hawaiian businesses are recovering from… more

Business Interruption, Commercial General Liability Policies, Ingress/Egress, Insurance Claims, Insurance Industry

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Global Enforcement And Asset Recovery Series - Article 1: Recognition And Enforcement Of Judgments And Arbitral Awards

Getting a judgment or award does not automatically mean getting paid. Particularly where judgment or award debtors are in less familiar jurisdictions, there can be a strong incentive to delay or avoid payment. From the… more

Arbitration, Arbitration Agreements, Arbitration Awards, Asset Recovery, Dispute Resolution

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FTC Proposes Updates to the Health Breach Notification Rule for Health Apps and Consumer Health Technologies

The Federal Trade Commission seeks to clarify how the Health Breach Notification Rule applies to health records collected by health apps and similar consumer health technologies… more

Breach Notification Rule, Comment Period, Federal Trade Commission (FTC), Health Insurance Portability and Accountability Act (HIPAA), Mobile Health Apps

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Fintech: OCC Issues Significant Ruling Permitting National Banks to Use INVN and Stablecoin Technology

The Situation: On January 4, 2021, the Office of the Comptroller of the Currency ("OCC") issued an Interpretive Letter permitting national banks and federal savings associations ("Banks") to participate in independent node… more

Banking Sector, Cryptoassets, Cryptocurrency, Digital Assets, Financial Industry Regulatory Authority (FINRA)

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FTC Imposes Record Fine on Texas Energy Companies for HSR "Gun Jumping"

During antitrust review between M&A signing and closing, HSR rules restrict an acquiror from beginning to control the target's business… more

Acquisition Agreements, Antitrust Provisions, Antitrust Violations, Competition, Enforcement Actions

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Japan Legal Update Vol. 53 | Autumn 2020

Technology - Japan Ministries Support Expansion of E-Signature Use - On September 4, 2020, the Japanese Ministry of Internal Affairs and Communications, the Ministry of Justice, and the Ministry of Economy, Trade and… more

Anti-Monopoly, Authentication, Competition, Digital Signature Standards, E-Signatures

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Japan Legal Update - Volume 52

Investigations & White Collar Defense - Amendment to Whistleblower Protection Act - On June 8, 2020, the Japanese Diet passed a bill to amend the Whistleblower Protection Act ("Act"). The bill was introduced amid a… more

Anti-Harassment Policies, Compliance, Copyright, Coronavirus/COVID-19, Corporate Culture

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U.S. Supreme Court Modifies Title VII's Adverse Action Standard

The Court's decision in Muldrow v. St. Louis requires plaintiffs to prove "some injury" respecting employment terms or conditions in discrimination cases… more

Adverse Employment Action, Civil Rights Act, Diversity and Inclusion Standards (D&I), Employee Transfers, Employer Liability Issues

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China Finalizes Its First Anti-Corruption Guidelines for the Health Care and Life Sciences Industry

On January 14, 2025, China's State Administration for Market Regulation ("SAMR"), the primary regulatory agency in China for overseeing market supervision, issued its Compliance Guidelines for Health Care Companies to Prevent… more

Anti-Corruption, Bribery, China, Corporate Governance, Enforcement Actions

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Class Actions Worldview - A Study of Trends Around the Globe: A Compendium Of Jones Day’s Five-part Series Published In 2023 And 2024

Class action procedures vary greatly among jurisdictions. These differences include how developed the procedures are; the types of claims parties can bring; the parties that can represent classes; whether classes are structured… more

Class Action, Class Certification, Class Representatives, Collective Actions, Corporate Counsel

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Assignor Estoppel Does Not Apply to IPRs

Assignor estoppel is a long-established, common-law doctrine of equity, which prevents a party who assigns a patent to another from later challenging the validity of the assigned patent. The doctrine also applies to parties in… more

Assignor Estoppel, Federal Common Law, Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board

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FTC's Final Health Breach Notification Rule: Expanded Scope, New Obligations, and Modified Reporting Requirements

The Federal Trade Commission ("FTC") intends to "strengthen and modernize" the Health Breach Notification Rule with revamped and increased scrutiny on entities holding health information, including health apps, websites, and… more

Breach Notification Rule, Data Breach, Federal Breach Notification Standard, Federal Trade Commission (FTC), Final Rules

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Global Trade Secret Update - Key Developments in 2024

This publication summarizes noteworthy 2024 legal developments in trade secret law in key centers of commerce throughout the world. Understanding these legislative and judicial developments can help trade secret owners maintain… more

Damages, Enforcement Actions, Injunctive Relief, Intellectual Property Litigation, Intellectual Property Protection

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IRS Issues Final Prevailing Wage and Apprenticeship Regulations for Clean Energy Tax Credits

The Background: The Inflation Reduction Act ("IRA") created or enhanced various tax credits for qualifying renewable energy projects. However, a taxpayer loses 80% of otherwise-available IRA credits unless prevailing wage… more

Apprenticeships, Clean Energy, Department of Labor (DOL), Employer Liability Issues, Energy Projects

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First Circuit Reverses SEC Win in $93 Million Investment Adviser Disclosure Case

The court rejects the SEC's per se materiality argument and requires proof of a causal connection between the defendant's allegedly inadequate disclosures and purported unlawful profits… more

Appeals, Disclosure Requirements, Disgorgement, Enforcement Actions, Investment Adviser

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Business Restructuring Review Vol. 23 No. 6 - November–December 2024

Hertz: Third Circuit Weighs In On Make-Whole Premiums And The “Solvent-debtor Exception” In Chapter 11 Cases - A handful of recent high-profile court rulings have considered whether a chapter 11 debtor is obligated to pay… more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Cramdown

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Ninth Circuit Clarifies Class Certification Standards in Antitrust Appeal

The Ninth Circuit approved use of statistical analysis that relies on averaging but reversed class certification because the district court failed to resolve whether more than a de minimis number of putative class members were… more

Antitrust Conspiracies, Antitrust Litigation, Appeals, Class Action, Class Certification

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Fifth Circuit Vacates SEC Private Fund Adviser Rules

The U.S. Court of Appeals for the Fifth Circuit held that the new SEC regulation of private fund advisers exceeded the agency's statutory authority… more

Final Rules, Investment Adviser, Investors, Private Funds, Securities and Exchange Commission (SEC)

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Hong Kong GEM Listing Reforms Take Effect

The Situation: The Growth Enterprise Market (the "GEM") listing activities in Hong Kong have been declining since 2019, and there was no new listed issuer on the GEM in 2022… more

Financial Markets, Hong Kong, Hong Kong Stock Exchange, Listing Rules, Publicly-Traded Companies

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Blurring the Line Between the Dry and Wet Lab: Joint Inventorship in AI-Assisted Life Science Inventions

In 2024, not one but two Nobel Prizes (in Chemistry and Physics) were awarded to researchers for their work in artificial intelligence ("AI"). Particularly noteworthy for the life science community is the Nobel Prize in… more

Artificial Intelligence, Healthcare, Intellectual Property Protection, Inventions, Inventors

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China Unveils New Anti-Monopoly Guidelines for the Pharmaceutical Sector

China's State Council issued new Anti-Monopoly Guidelines for the Pharmaceutical Sector (the "Guidelines") effective January 24, 2025. The Guidelines provide a comprehensive framework for the State Administration for Market… more

Acquisition Agreements, Anti-Monopoly, Antitrust Provisions, China, Competition

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China Boosts Enforcement of Anti-Foreign Sanctions Law

China has recently taken several actions showing its commitment to counter trade restrictions imposed by other countries. In March 2025, it released regulations implementing the 2021 Anti-Foreign Sanctions Law. In tandem with… more

China, Economic Sanctions, Enforcement Actions, Exports, Foreign Policy

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APAC ESG Update | Spring Quarter 2024

This White Paper focuses on ESG developments through the Asia-Pacific (“APAC”) region since the start of 2024. For businesses present in the APAC region, as well as doing business there, it is imperative to be vigilant of the… more

Asia Pacific, Climate Action Plan, Climate Change, Environmental Protection Agency (EPA), Environmental Social & Governance (ESG)

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Considerations for Addressing DOJ’s Corporate Compliance Guidance on Mobile Devices and Messaging Platforms

In light of the DOJ’s most recent guidance on the use of personal devices and third-party messaging applications by corporate personnel, this White Paper addresses issues and challenges that companies are facing in this area and… more

CFTC, Compliance, Cybersecurity, Data Collection, Data Privacy

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Commercial Fleet Electrification: New Law, Infrastructure, and Vehicles

Electric vehicles have been in the news this quarter, and rightly so. The December 2021 Biden-Harris Electric Vehicle Charging Action Plan accelerates the conversion of internal combustion vehicles to the array of EV drive… more

Automotive Industry, Business Plans, Charging Stations, Electric Vehicles, Environmental Social & Governance (ESG)

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European Commission Proposes Further Prohibitions of Territorial Restrictions on Branded Products

Future prohibition on territorial supply constraints would expand EU law to prohibit certain unilateral conduct by large manufacturers… more

Antitrust Provisions, Competition, EU, European Commission, Goods or Services

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European Government Support Schemes: Current State of Play

The Situation: The economic crisis caused by COVID-19 has triggered an unprecedented response from European governments to support their economies with government-backed financial support… more

Capital Markets, Coronavirus Large Business Interruption Loan Scheme (the CLBILS), Coronavirus/COVID-19, EU

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Texas Enacts New Law to Regulate Proxy Advisory Firms

On June 20, 2025, Texas Governor Greg Abbott signed Senate Bill 2337 ("SB 2337") to impose first-of-its-kind regulation and significant disclosure obligations on proxy advisors, such as ISS and Glass Lewis. SB 2337 aims to limit… more

Business Advice, Corporate Governance, Disclosure Requirements, Diversity and Inclusion Standards (D&I), Environmental Social & Governance (ESG)

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