News & Analysis as of

Disclosure Requirements Enforcement Actions

Snell & Wilmer

New Washington Law Shortens Deadline for Personnel File Requests, Requires Statement About Termination

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As of July 27, 2025, employers with Washington employees have less time to respond to requests for personnel files, and have greater obligations and exposure to litigation related to doing so. With the passage of HB 1308,...more

Beveridge & Diamond PC

Preparing for a Wave of Citizen Suits in Texas – Ten Tips for Leveraging the Texas Environmental, Health & Safety Audit Privilege...

As reported previously, we anticipate environmental nongovernmental organizations (eNGOs) to file more citizen suits in response to reduced federal enforcement by the U.S. Environmental Protection Agency (EPA). Some eNGOs...more

Seward & Kissel LLP

SEC Enforcement Actions Target Inadequate Disclosures on Conflicts of Interest by Advisory Firms and Broker-Dealers

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Who may be interested: Registered Funds, Registered Investment Advisers, Registered Broker-Dealers, Compliance Staff, Boards of Directors. Quick Take: On August 29, 2025, the SEC, in separate actions, sanctioned a registered...more

Cooley LLP

Court Issues Preliminary Injunction for the Texas Proxy Advisor Law

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I recently blogged about how back in June, Texas passed a law – known as “Senate Bill 2337” – that mandates certain disclosures when proxy advisors recommend casting a vote for “non-financial reasons” or provide conflicting...more

Partridge Snow & Hahn LLP

New Massachusetts Fee Disclosure Rules Impose Substantial Penalties for Non-Compliance

Effective September 2, 2025, Massachusetts will begin enforcing 940 CMR 38.00, a new regulation aimed at promoting price transparency for consumers. These comprehensive rules apply to the sale or lease of goods and services...more

Kelley Drye & Warren LLP

HelloFresh to Pay $7.5 Million to Settle Automatic Renewal Suit

Last month, HelloFresh agreed to settle an investigation by the California Automatic Renewal Task Force (“CART”) made up of several California counties and cities. CART’s lawsuit, filed contemporaneously with its agreed...more

Orrick, Herrington & Sutcliffe LLP

Massachusetts state court allows consumer protection suit over home equity investment product to proceed

On August 21, a Massachusetts superior court denied a motion to dismiss filed by a financial technology company offering a home equity investment (HEI) product. The financial technology company asserted that the HEI is an...more

Saul Ewing LLP

Public Companies Quarterly Update (Q2 2025)

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Welcome to Saul Ewing's Public Companies Quarterly Update series. Our intent is to, on a quarterly basis, highlight important legal developments of which we think public companies should be aware....more

Morrison & Foerster LLP

Federal Court Declines to Enjoin CA Climate Disclosure Laws

On August 13, 2025, the U.S. District Court for the Central District of California declined to block enforcement of California’s two major climate disclosure bills, the Climate Corporate Data Accountability Act (SB 253) and...more

Troutman Pepper Locke

Illinois Amends Student Loan Servicing Rights Act to Include Educational Income Share Agreements

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On August 15, Illinois Governor JB Pritzker approved Public Act 104-0383. This legislation, effective immediately, amends the Student Loan Servicing Rights Act and introduces Article 7, focusing on Educational Income Share...more

Cozen O'Connor

FTC Sues LA Fitness to Cancel Unfair Membership Cancellation Practices

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The FTC has sued Fitness International, LLC and Fitness & Sports Clubs, LLC—the operators of “LA Fitness”—alleging that the gyms have made it extremely difficult for consumers to cancel memberships and recurring charges in...more

Sheppard Mullin Richter & Hampton LLP

Texas’s New Proxy Advisor Disclosure Law: Key Details for Shareholders and Companies Ahead of September 2025

Texas has enacted S.B. 2337, a statute set to reshape proxy advisory practices for publicly traded companies that are either organized in Texas, have their principal place of business in the state or have proposed becoming a...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Emergency Planning and Community Right-to-Know Act Enforcement: U.S. Environmental Protection Agency and Former Nashville,...

The United States Environmental Protection Agency (“EPA”) and Cargill Meat Solutions Corporation (“Cargill”) entered into an August 18th Consent Agreement (“CA”) addressing an alleged violation of the federal Emergency...more

Jackson Walker

Texas 89th Legislature: Key Artificial Intelligence Legislation

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By Arthur Gollwitzer The recently concluded 89th Legislature addressed a wide range of artificial intelligence issues. Texas is taking a leading role in both encouraging AI use and regulating the use of artificial...more

Robinson+Cole Data Privacy + Security Insider

HIPAA Privacy Rule in Focus: OCR Sheds Light on PHI Disclosures and Access Rights

On August 11, 2025, the Office for Civil Rights (OCR) published updated guidance relating to the Health Insurance Portability and Accountability Act (HIPAA) Privacy Rule (Privacy Rule) in the form of two new FAQs. The FAQs...more

Constangy, Brooks, Smith & Prophete, LLP

State privacy enforcement heats up this summer: What CA, CT settlements mean for your business

In an era of escalating data breaches, organizations must be vigilant in protecting consumer information. A comprehensive federal data privacy law would streamline compliance efforts, but Congress has yet to pass one, leaving...more

Troutman Pepper Locke

SEC Charges TZP Management Associates With Breaching Fiduciary Duty by Overcharging Management Fees to Private Funds

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Last week, TZP Management Associates, LLC (TZP), a New York-based private equity investment adviser, agreed to pay more than $680,000 in monetary relief to settle charges brought by the Securities and Exchange Commission...more

Proskauer - The Capital Commitment

SEC v. TZP Management Associates, LLC: Insights Into Private Fund Enforcement Priorities Under Chair Atkins

On August 15, 2025, the Securities and Exchange Commission (“SEC”) issued an order settling proceedings against TZP Management Associates, LLC (“TZP”) for allegedly miscalculating management fee offsets between 2018 and 2023....more

Cozen O'Connor

Texas Has No Reservations About Settling with Booking Holdings Over Alleged Travel Junk Fees

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Texas AG Ken Paxton reached a $9.5 million settlement with Booking Holdings Inc.—the parent company of travel platforms like Booking.com, Priceline.com, and Kayak.com—to resolve allegations that the company deceptively...more

Woodruff Sawyer

The Corporate Guidance Tightrope: Balancing Transparency & Risk

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For US-listed public companies, issuing corporate guidance can feel routine—until it isn’t. One overly rosy forecast or offhand comment on an earnings call can turn into plaintiffs’ or regulators’ Exhibit A. For companies...more

Paul Hastings LLP

SEC Commissioner Paul Atkins Promises Increased Enforcement of US-Listed Chinese Companies

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During Securities and Exchange Commission Chairman Paul Atkins’ Senate confirmation hearing, a lawmaker asked him, “Would [you] investigate Chinese companies for … wanton and blatant violations of U.S. disclosure laws that...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Pay Transparency Update: Summer 2025

As employers move into the second half of 2025, pay transparency continues to expand across the states. And, perhaps, enforcement is starting to keep pace with legislative activity....more

McDermott Will & Schulte

SEC charges PE firm for alleged disclosure failures related to fee offsets

On August 15, 2025, the US Securities and Exchange Commission (SEC) charged a New York-based private equity adviser (the Firm) with breaching its fiduciary duties by failing to adequately disclose its practices regarding the...more

Cozen O'Connor

State AGs Are Stepping Up — Is Your Bank Ready for Multistate Scrutiny?

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The CFPB has scaled back some enforcement priorities, and the states have noticed. Certain states – including California, New York, Texas, and Connecticut – are particularly active, pursuing UDAP violations, privacy issues,...more

Loeb & Loeb LLP

Match Group’s $14 Million Lesson: Even Without “Click-to-Cancel,” Subscription Companies Can’t Play Hard to Get

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Last week, Match Group Inc., the powerhouse behind Match.com, OkCupid, Plenty of Fish and The League, agreed to shell out $14 million and revamp its cancellation policies, ending a nearly six-year showdown with the Federal...more

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