Whether it is the FTC or the National Advertising Division, reviews are a hot topic and content posted by third-party review sites an even hotter one. The line between unbiased reviews and affiliate advertising and by...more
The official transition to a new administration and early Cabinet selections helped drive Wall Street to new highs on Tuesday, with the Dow topping 30,000 for the first time and the S&P 500 up 1.6% to another new high, too....more
More than three years have passed since J.Crew’s infamous “trap door” maneuver. Faced with a mounting debt burden, J.Crew utilized multiple baskets in its credit facility to reallocate its core property – its J.Crew...more
This week’s addition of another 3 million to the jobless roll brings the two-month unemployment claim total to 36.5 million and highlights the “rolling shock” nature of the pandemic’s economic fallout—even as some businesses...more
In Washington: COVID-19 cases may not peak in the D.C. region until mid- or even late May. The Senate is back in session, but it may be a while before the House returns as leaders have not reached a bipartisan agreement on...more
J.Crew filed for bankruptcy protection; the company’s lenders have agreed to “convert $1.65 billion . . . into equity.” Neiman Marcus Group Inc. and J.C. Penney are also on the bankruptcy path, already entering talks with...more
Another round of unemployment reporting has pushed the newly jobless figure over 30 million in just the past 6 weeks, as the coronavirus continues to wreak economic havoc in the U.S. Even that staggering figure is...more
Massachusetts has fined Chipotle $1.4 million as part of a settlement with the restaurant chain over accusations that “it routinely violated [state] labor laws, with authorities estimating more than 13,000 violations from...more
Because who wants a nice quiet December, right? Yesterday, the U.S. opened yet another trade war front by proposing retaliatory tariffs of up to 100% on a wide range of French imports after announcing that “it found France’s...more
As pretty much expected, the Federal Reserve cut interest rates a quarter point again yesterday, its second cut since late July. Fed Chair Powell also indicated in remarks after the FOMC broke that a “‘more extensive’ series...more
A drone attack on Saudi Aramco oilfields this weekend affected 5% of global production and sent “energy prices substantially higher” late Sunday and early today. Analysts don’t anticipate a “severe shock to energy markets and...more
The Third Circuit recently held that procedural violations of the Fair and Accurate Credit Transactions Act (“FACTA”), absent any showing of concrete harm, do not meet Article III standing requirements. Kamal v. J. Crew...more
In a precedential opinion, the U.S. Court of Appeals for the Third Circuit concluded that because the named plaintiff in a class action complaint failed to allege a concrete injury...more
The U.S. Court of Appeals for the Third Circuit added its voice to the chorus of circuit courts of appeal that have held that alleged procedural violations of the Fair and Accurate Credit Transactions Act (FACTA), such as the...more
The U.S. Court of Appeals for the Third Circuit recently held, for the first time, that a mere procedural violation of a statute does not present the material risk of harm that a plaintiff must allege to establish Article III...more
Nissan Board Chair Carlos Ghosn is on the verge of being ousted at the Japanese automaker after an internal investigation found that he had “underreported his compensation to the financial authorities for several years.”...more
There’s been a hitch in Saudi Aramco’s IPO plans (mind-boggling $2 trillion possible valuation and all): where to list. The frontrunners, by the way, are the London Stock Exchange and the NYSE....more
Even a year after it issued its opinion in Spokeo v. Robins, the Supreme Court’s decision on Article III standing continues to be hotly contested. On June 6, 2017, the District of New Jersey cited Spokeo in dismissing an...more
Hoping to reverse recent years of struggles, J. Crew is bidding farewell to CEO Mickey Drexler (though he’ll stay on as chairman) in favor of West Elm’s James Brett....more
Recently, J. Crew used a “back-door” provision in its credit facility to transfer approximately $250 million worth of intellectual property (“IP”) to an unrestricted subsidiary with the aim of borrowing against the...more