On March 8, 2014 Malaysia Airlines Flight MH370, a Boeing 777, departed Kuala Lumpur for Beijing with 239 passengers and crew on board. As it left Malaysian airspace the pilot, 53-year old Captain Zaharie Ahmad Shah, said, “Good night, Malaysian 370” to controllers. One minute later its transponder signal disappeared from radar screens. No further...Continue Reading…

On Wednesday, the SEC proposed amendments to its disclosure requirements for public companies based on recommendations in the staff’s FAST Act Report and as part of a broader review of the disclosure system.  The comment period is open for sixty days.

The WSJ fairly characterized the changes as “modest and technical,” and Commissioner Piwowar is quoted as saying the amendments are intended to be incremental.  Our client memo describing all of the proposed reforms will be issued shortly.  The main areas that would impact periodic reporting and do not relate to securities offerings include:

You may not need to describe any propertiesContinue Reading

The IRS announced that whistleblower awards paid under section 7623 on or after October 1, 2017 and on or before September 30, 2018, will continue to be reduced by the “sequestration reduction rate”, which has now been lowered slightly to 6.6 percent. The 6.6 percent fiscal 2018 sequestration reduction rate represents a .3 percent decrease from fiscal 2017’s 6.9 percent. The sequestration reduction will unfortunately continue to be applied to whistleblower payments unless and until a law is enacted that cancels or changes the sequester or a court decides that it is improper.
Last month, following a jury verdict in federal district court in Delaware awarding Plaintiff Idenix Pharmaceuticals LLC $2.54 billion in damages—“the largest damages verdict ever returned in a patent [infringement] trial”—Chief Judge Leonard Stark denied Idenix’s motion for enhanced damages. Idenix Pharm. LLC v. Gilead Scis., Inc., No. 14-CV-00846, at *2, 15 (D. Del. Sept....
In Roppo v. Travelers Commercial Insurance Company, the Seventh Circuit held that even after a motion to remand CAFA removal jurisdiction can be sufficiently established by a defendant’s “good faith estimates” of the amount in controversy based on the number of class members plaintiff had alleged in the complaint. The lawsuit challenged Travelers’ alleged practice of... Continue Reading
Importers Beware: U.S. Customs Targets Imports Made in China by North Korean Workers The AP recently reported that North Koreans are working in China as forced labor and their products are being imported into the U.S.  The AP followed the production of seafood from Chinese facilities to U.S. retailers, but stated that there other affected product categories, including apparel and wood flooring. While it has been known that...… Continue Reading

Ronnie Van Zant, Inc. v. Pyle, No. 17 Civ. 3360 (RWS), 2017 WL 3721777 (S.D.N.Y. Aug. 28, 2017)  

In this case, the Southern District of New York imposed an adverse inference against defendants for their failure to preserve text messages that were in the possession of a non-party.  Specifically, Judge Sweet imposed an adverse inference against defendants based upon the … Continue Reading

On 28 September, the European Commission released a Communication on tackling illegal online content, under the heading “Towards an enhanced responsibility of platforms”.  The communication sets out (non-legally-binding) guidelines for online platforms to move to “step up the fight” against illegal online content.  Tackling infringing content online is a well-recognised problem for the owners of...… Continue Reading
We have all heard about smart homes and the nirvana they may create. But we hear little about the risks, exposure and liability smart homes may pose. These risks stem from the fact that the standards governing smart home devices and the Internet of Things (IoT) simply don’t yet exist. And to the extent any... Continue Reading