On March 27, 2024, the U.S. Securities and Exchange Commission (“SEC”) announced amendments to the Internet Adviser Exemption, which permits investment advisers that provide advisory services through the internet (“Internet Investment Advisers”) to register with the SEC under the Investment
DOJ Plans to Apply the New Whistleblower Rewards Pilot Program to FCPA Cases
Just one day after Deputy Attorney General Lisa Monaco announced the U.S. Department of Justice’s (“DOJ’s” or “Department’s”) whistleblower pilot program on March 8, 2024, the DOJ’s Criminal Division highlighted its plans to apply the program in its fight against
California Wage Hike Law for Fast Food Workers Generates Uncertainty for Some Employers
On April 1, 2024, California’s Assembly Bill No.1228 (“AB 1228”) took effect, making the state’s fast food workers the highest paid in the United States. However, uncertainty regarding precisely who is covered under the new law has left some employers
Termination, Adequate Alternative Remedies Sends Dissolution Proceeding Packing
There are plenty of advantages to practicing business divorce litigation in New York. The diversity of businesses and clients, complexity of agreements and transactions, and excellence of judges and attorneys make New York, in my view, the place to be
Stay in Your Lane! Delaware Court Invalidates Stockholder Agreement Provisions that Encroach on Board Authority
There are generally two ways you can control a corporation. One is by owning a majority of the stock, in which case you control the board of directors. The other is to secure control contractually, through agreements and charter provisions
Judge Rules That A Front For Mexican Cartel Had The Capacity To Protect Its Own Interests
California Corporations Code Section 25118(b) provides an exemption from the state’s usury limitations for loans. The exemption is subject to several conditions. One condition is the existence of either a preexisting relationship or a level of financial sophistication:
- The lender
Paul Weiss Discusses Verdict in SEC “Shadow Trading” Case
On Friday, April 5, 2024, a jury in the Northern District of California found that the SEC had established that Defendant Matthew Panuwat, a former senior director of business development at biopharmaceutical firm Medivation, was liable under a civil misappropriation
“Shadow Trading” and the Common Law of White Collar Crime
A fascinating legal soap opera is now underway following a trial just completed in California. The issues are new, novel, and important in one sense, but old, familiar, and important in another. The case – SEC v. Panuwat[1] —
Non-Solication Agreements That Bar an Employee From Servicing Any Customer of a Former Employer are Generally Not Enforceable in Illinois or Subject to Discretionary Blue Pencilling
It is well settled that “Illinois courts abhor restraints on trade” and therefore “postemployment restrictive covenants are carefully scrutinized . . . because they operate as partial restrictions on trade.” McInnis v. OAG Motorcycle Ventures, Inc., 2015 IL App (1st)
Accounting Malpractice Claim Based on Failure to Discover Client’s Not Defeated by Fact that Accountant Was Not Engaged to Perform an Audit
On April 4, 2024, the First Department issued a decision in 1650 Broadway Assoc., Inc. v Sturm, 2024 NY Slip Op. 01864, holding that an accounting malpractice claim based on a failure to discover a client’s fraud was not