McGuireWoods LLP

Where’s the “Beef”? Oklahoma Federal Court Refuses to Enjoin Plant-Based Labeling Law

State-level attempts to regulate plant-based meat alternatives’ labeling has followed a familiar pattern. States pass a law restricting what plant-based companies may (or may not) say in their labeling and marketing. Then,…more

Food Labeling, Labeling, Marketing, Plant Based Products, Product Labels

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Contaminants Compass: June 2024 Edition

“Contaminants Compass” is a monthly newsletter that provides updates, legal observations and actionable tips to navigate the evolving legal challenges of per- and polyfluoroalkyl substances (PFAS). This edition discusses a…more

Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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EEOC Guidance Addresses Religious Discrimination in the Workplace

On Jan. 15, 2021, the U.S. Equal Employment Opportunity Commission published updated guidance to its Compliance Manual on Religious Discrimination. The revised guidance, the first substantial update since 2008, came just five…more

Employer Liability Issues, Equal Employment Opportunity Commission (EEOC), Reasonable Accommodation, Religious Accommodation, Religious Discrimination

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Deputy Attorney General Monaco Announces New DOJ Whistleblower Program

On March 7, 2024, U.S. Deputy Attorney General Lisa Monaco gave remarks at the American Bar Association’s 39th National Institute on White Collar Crime in San Francisco, California. Monaco provided updates on the U.S. Department…more

Criminal Prosecution, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA), Securities and Exchange Commission (SEC), Whistleblowers

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SEC Approves Nasdaq Rules on Board Diversity

On Aug. 6, 2021, the U.S. Securities and Exchange Commission (SEC) approved Nasdaq’s new listing rules regarding board diversity and disclosure. The new rules will require most Nasdaq-listed companies to have, or explain why…more

Board of Directors, Corporate Governance, Disclosure Requirements, Diversity, LGBTQ

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Fairfax County Board Adopts Data Center Zoning Changes

On Sept. 10, 2024, the Fairfax County, Virginia Board of Supervisors approved a zoning ordinance amendment that creates new restrictions for data centers. The amended ordinance permits by-right data center development in certain…more

Data Centers, State and Local Government, Urban Planning & Development, Zoning Laws

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Virginia 2024 Legislative Update

On March 9, 2024, the Virginia General Assembly adjourned following a 60-day session during which lawmakers voted on over 3,500 pieces of legislation and negotiated a two-year state budget. The 2024 session was marked by some…more

Artificial Intelligence, Gambling, Legislative Agendas, Marijuana, Minimum Wage

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Demand for Data Center Projects Remains High Across Virginia With Varying Levels of Regulation

Demand for data center development opportunities remains at unprecedented levels across Virginia. But how the industry is regulated by Virginia’s diverse cities and counties is not uniform…more

Data Centers, Local Ordinance, Urban Planning & Development, Zoning Laws

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SCOTUS Permits Military Academy to Use Race as a Factor in Student Admissions — for Now

Affirmative action admissions developments in the higher education sector continue, as the U.S. Supreme Court recently declined to issue an emergency injunction pending appeal that would have prohibited the U.S. Military Academy…more

Affirmative Action, College Admissions, Diversity, Fourteenth Amendment, SCOTUS

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FCC Drops Message That Ringless Voicemails Are Subject to TCPA

On Nov. 21, 2022, the Federal Communications Commission issued a declaratory ruling and order finding that “ringless voicemails” to wireless phones are “calls” made using an artificial or prerecorded voice. Such calls,…more

FCC, TCPA, Telecommunications, Voicemail

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Loudoun County, Va., Moves to Restrict Data Center Development

Loudoun County, Va., joins a growing number of northern Virginia jurisdictions taking affirmative steps to restrict data center development. As the first part of a two-phase process, the board of supervisors voted to advance…more

Data Centers, Local Ordinance, Urban Planning & Development, Zoning Laws

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Key Takeaways From the 2024 Bisnow UK Office Series: The Renaissance Conference

On 21 March 2024, McGuireWoods London partner Callum Hassall moderated the third session of Bisnow’s UK Office Series: The Renaissance event, which focused on London’s office leasing landscape…more

Landlords, Leases, Rental Property, Tenants, UK

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New York to Implement Mandatory Reporting of Health Care Transactions

As 2023 legislative sessions wind down, many states are considering bills that would require pre-close review or approval of healthcare transactions by a state agency or attorney general’s office, including one that passed May…more

Health Care Providers, Healthcare Facilities, Reporting Requirements, State and Local Government

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Biden Administration Finalizes Three Wind Energy Areas off Mid-Atlantic Coast

On July 31, 2023, the Bureau of Ocean Energy Management (BOEM) announced three final wind energy areas (WEAs) off the shores of Delaware, Maryland and Virginia. The final WEAs have the potential to support 4-8 gigawatts of…more

Biden Administration, Energy Sector, Offshore Wind, Renewable Energy, Wind Power

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Inflation Reduction Act Extends and Modifies Tax Credits for Wind Projects

On Aug. 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (IRA), which includes new and revised tax incentives for clean energy projects. The IRA extends and significantly modifies the federal tax…more

Biden Administration, Clean Energy, Energy Projects, Energy Tax Incentives, Inflation Reduction Act (IRA)

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Uber’s Challenge to Non-Individual PAGA Standing Crashes at the California Supreme Court

In a significant blow to employment-related arbitration agreements, the California Supreme Court ruled in Adolph v. Uber Technologies, Inc. that an employee has standing to bring non-individual, representative California Private…more

Arbitration, Arbitration Agreements, CA Supreme Court, Corporate Counsel, Employment Litigation

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Financial Institutions and Bank Directors and Officers in the Crosshairs – Are Their Insurance Policies Really Primed and Ready?

With bank stability and the related stock market rout now dominating the headlines for the first time since the 2008 financial crisis, are financial institutions’ D&O and bankers’ professional liability / E&O (“BPL”) liability…more

Banking Sector, Banks, D&O Insurance, Financial Institutions

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Georgia 2024 Legislative Update: Around the Capitol in 80 Days

The Georgia General Assembly has 40 days to pass bills, and following that, the governor has 40 days to decide if they will become law. That process ended May 7, 2024, and Gov. Brian Kemp chose to veto 12 bills and signed the…more

General Assembly, Legislative Agendas, State and Local Government, State Budgets, State Legislatures

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Contaminants Compass: July 2024 Edition

“Contaminants Compass” is a monthly newsletter that provides updates, legal observations and actionable tips to navigate the evolving legal challenges of per- and polyfluoroalkyl substances (PFAS). This edition discusses…more

Contamination, Hazardous Substances, PFAS, Toxic Chemicals, Water

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Federal Reserve Announces Expansion of Eligible Issuers for MLF Program

On June 3, 2020, the Federal Reserve Board announced an expansion in the number and type of Eligible Issuers authorized to use the Municipal Lending Facility (MLF) program. Eligible Issuers now include “Designated Cities,”…more

Bond Issuers, Federal Reserve, FRB

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SEC Updates Compliance and Disclosure Interpretations of Proxy Rules, Schedules 14A/14C

On May 11, 2018, the U.S. Securities and Exchange Commission’s Division of Corporation Finance issued a consolidated set of Compliance and Disclosure Interpretations (C&DIs) of the proxy rules and Schedules 14A/14C. The updated…more

C&DIs, Compensation & Benefits, Disclosure Requirements, Proxy Statements, Securities and Exchange Commission (SEC)

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U.S. Supreme Court: Bankruptcy Code Abrogates Tribal Sovereign Immunity

On June 15, 2023, the U.S. Supreme Court ruled that the Bankruptcy Code barred an Indian tribe’s attempts to collect on a defaulted debt from a Chapter 13 debtor…more

Abrogation, Bankruptcy Code, Lac du Flambeau Band of Lake Superior Chippewa Indians v Coughlin, Native American Issues, SCOTUS

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Healthcare & Life Sciences Private Equity Deal Tracker: Amulet Acquires Genetics & IVF Institute

Amulet Capital Partners has announced the acquisition of the Genetics & IVF Institute (GIVF). GIVF, founded in 1984 and based in Fairfax, Virginia, is a provider of reproductive tissue banking and related reproductive…more

Acquisitions, Investment, Investors, Private Equity, Private Equity Firms

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State Education Policy Updates

California Education Policy Update - In his January budget proposal, Gov. Gavin Newsom called for spending $20,855 per pupil for K-12, accounting for all sources, which would be the highest spending ever as Newsom seeks $119…more

Colleges, Public Schools, School Districts, State and Local Government, Students

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Women in PE to Know: Lindsay Ting

The interview below is part of an ongoing effort by McGuireWoods to profile women leaders in private equity (PE). To recommend a woman for a future interview, email Amber Walsh at awalsh@mcguirewoods.com…more

Business Development, Career Development, Entrepreneurs, Private Equity, Professional Development

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Congress Reinvigorates Nuclear Energy Industry With Passage of ADVANCE Act

Congress passed the Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy Act (ADVANCE Act) in June 2024, which includes several provisions to encourage the development of nuclear energy infrastructure…more

Clean Energy, Energy Sector, Nuclear Power, Nuclear Regulatory Commission

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Emerging Technologies Washington Update - August 2020 #3

This week: Agencies issue guidance on UAS detection and mitigation technology; White House calls for 30% boost to AI and quantum information science funding; California approves final CCPA regulations; DOE and DOD announce First…more

Artificial Intelligence, California Consumer Privacy Act (CCPA), Data Privacy, Department of Defense (DOD), Department of Energy (DOE)

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Consumer Financial Protection Bureau v. Townstone Financial, Inc.

On July 11, 2024, the U.S. Court of Appeals for the Seventh Circuit held in Consumer Financial Protection Bureau v. Townstone Financial, Inc. that the Equal Credit Opportunity Act (“ECOA”) protects prospective applicants and…more

Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), ECOA, Fair Lending, Financial Services Industry

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Massachusetts’s Attorney General Increasing Enforcement in Car-Repossession Space

The Massachusetts Attorney General (AG) is increasing its enforcement in the motor-vehicle-repossession space. In a January 17, 2023, Assurance of Discontinuance (AOD), the AG stated that it is “conducting an investigation” into…more

Debtors, Repossess, Retail Installment Sales Contracts, State Attorneys General

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State Education Policy Updates

California Education Policy Update - In his January budget proposal, Gov. Gavin Newsom called for spending $20,855 per pupil for K-12, accounting for all sources, which would be the highest spending ever as Newsom seeks $119…more

Colleges, Public Schools, School Districts, State and Local Government, Students

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“There are Cops on the Beat”: DOJ’s Procurement Collusion Strike Force Leader Emphasizes Criminal Antitrust as Top Enforcement Priority

On September 14, 2023, Daniel W. Glad — Director of the Procurement Collusion Strike Force (“Strike Force”) for the Department of Justice’s (“DOJ”) Antitrust Division — gave remarks as the keynote speaker for the Virginia Bar…more

Antitrust Division, Antitrust Provisions, Antitrust Violations, Criminal Investigations, Department of Justice (DOJ)

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Preparing for an Impending Government Shutdown: Legal Hurdles for Federal Contractors

It is now widely believed that Congress will fail to agree on a continuing resolution to secure short-term funding for the federal government while the Senate and House negotiate appropriations bills for the coming fiscal year…more

Federal Contractors, Federal Funding, Government Shutdown, Subcontractors

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Disruptive Technology Strike Force Announces Its First Declination to Prosecute Under the National Security Division’s Voluntary Self-Disclosure Program

On May 22, 2024, the Department of Justice’s National Security Division (“NSD”) announced its first declination of prosecution for a company under the voluntary self-disclosure program established by the National Security…more

Department of Justice (DOJ), Export Controls, National Security, Self-Disclosure Requirements, Voluntary Disclosure

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Spring Has Sprung for Recent Reg NMS Reporting Changes

On March 6, the SEC released its long-anticipated adopting release amending Rule 605. Separately, in late February, FINRA issued Regulatory Notice 24-05 discussing new FINRA Rule 6151, which requires member firms to provide…more

Amended Rules, Broker-Dealer, Financial Industry Regulatory Authority (FINRA), Reporting Requirements, Securities and Exchange Commission (SEC)

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Biden Administration Announces COVID-19 Vaccine and Testing Mandates for Most Employers

On Sept. 9, 2021, President Biden announced a broad six-part strategy to combat COVID-19 at the federal level, including extensive new vaccination and testing requirements for large private employers, certain federal contractors…more

Biden Administration, Coronavirus/COVID-19, Employer Mandates, Federal Contractors, Health and Safety

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SEC Speaks 2024: In Defense of the Enforcement Division’s Agenda

On April 2 and 3, 2024, U.S. Securities and Exchange Commission Chair, Gary Gensler, Division of Enforcement Director, Gurbir Grewal, and other senior SEC officials convened at the SEC Speaks conference held in Washington, DC to…more

Enforcement Actions, Investment Adviser, Investment Advisers Act of 1940, NDAA, Securities and Exchange Commission (SEC)

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New Complaint – Damian as Receiver of Today’s Growth Consultant, Inc. v. Core Financial Outsourcing of Chicago, LLC

On August 31, 2022, Plaintiff Melanie E. Damian, in her capacity as the Court-Appointed Receiver for Today’s Growth Consultant, Inc. d/b/a The Income Store (“TGC”) (the “Receiver”) filed a complaint against Defendant Core…more

Fraud, Fraudulent Transfers, Investors, Ponzi Scheme, Securities and Exchange Commission (SEC)

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CMS Issues ESRD Prospective Payment System Final Rule for 2023

Rule Addresses Rate Increases, Outlier, Add-On and ETC Model Payments, Oral-Only Drugs and QIP Reporting - On Oct. 31, 2022, the Centers for Medicare & Medicaid Services issued a final rule implementing an increase in…more

Centers for Medicare & Medicaid Services (CMS), Dialysis, ESRD, Final Rules, Medicare

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OFCCP Acting Director Hodge Outlines Enforcement for Federal Contractors

Office of Federal Contract Compliance Programs (OFCCP) Acting Director Michele Hodge spoke on July 30, 2024, to a live audience at the 2024 National Industry Liaison Group (NILG) Conference in Orlando, Florida. As part of her…more

Affirmative Action, Department of Labor (DOL), Federal Contractors, OFCCP

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Supreme Court Trademark Ruling Shows You Can’t Judge a Book(ing) by Its .Com

The U.S. Supreme Court on June 30, 2020, decided U.S. Patent & Trademark Office v. Booking.com B.V., handing a win to Booking.com and holding that whether a generic term combined with a “.com” domain name results in a generic…more

Acquired Distinctiveness, Appeals, Booking.com, Descriptive Trademarks, Domain Name Registration

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Virginia Supreme Court: Arbitration Clauses in Trusts Are Not Enforceable Against Beneficiaries

In Boyle v. Anderson, No. 210382 (Va. April 14, 2022), the Supreme Court of Virginia addressed an emerging topic in trusts and estates: whether a settlor can require that trustees and beneficiaries submit any disputes to…more

Arbitration, Beneficiaries, Estate Planning, Fiduciary Duty, Trusts

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Multistate 2024 Education Legislative Update

LEGISLATORS ADDRESS A VARIETY OF EDUCATION ISSUES IN 2024 - As we approach completion of the first quarter of 2024, many states are gearing up for their legislative sessions while others have adjourned for the year. Education…more

Colleges, Educational Institutions, Public Schools, School Districts, State and Local Government

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DHS Publishes Inflation-Adjusted Fines for Employer Noncompliance With I-9 Rules

The Department of Homeland Security (DHS) published on June 28, 2024, increased civil monetary penalties for employer noncompliance with Form I-9 rules. Each year, penalties pursuant to the Immigration and Nationality Act of…more

Department of Homeland Security (DHS), Department of Justice (DOJ), Foreign Workers, Form I-9, Immigrants

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Senior Living Alert: Enforcement Considerations for Private Equity Funds Investing in Senior Living

Revisions to the Health Over Wealth Act, a bill aimed at increasing transparency for private equity (PE) firms, introduced July 25, 2024, have removed assisted living facilities from its list of covered entities. However, the…more

Investment, Investors, Private Equity, Private Equity Firms, Private Equity Funds

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North Carolina General Assembly Week in Review - January 2024 #2

This week, members of the North Carolina General Assembly ramped up their interim committee meeting schedule, holding hearings of the House Select Committee on Education Reform, the Joint Legislative Commission on Governmental…more

General Assembly, Legislative Agendas, State and Local Government, State Budgets, State Legislatures

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SEC Modifies Auditor Independence Standards

On Oct. 16, 2020, the U.S. Securities and Exchange Commission (SEC) adopted final rules amending the auditor independence requirements of Rule 2-01 of Regulation S-X. The SEC noted that amendments to the auditor independence…more

Audit Committee, Auditor Independence, Auditors, Audits, PCAOB

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Further Relaxations to UK Land Registration Deed Execution Formalities in Light of COVID-19

In May 2020, McGuireWoods reported on temporary changes to the Land Registry’s requirements to make it easier to sign deeds for land registration purposes. In short, the Land Registry softened its approach to photographic copies…more

Coronavirus/COVID-19, Land Registries, Real Estate Market, UK

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Illinois End of Session Update

Speaker Welch First-Term Highlights - Illinois elected a new Speaker of the House for the first time in almost 40 years after former House Speaker Michael Madigan was ousted from his leadership and later resigned at the…more

Affordable Housing, Cybersecurity, General Assembly, Omnibus Guidance, Popular

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IRS Issues Interim Guidance Under Expanded EPCRS

Recently, the IRS released Notice 2023-43, providing interim guidance on Section 305 of the SECURE 2.0 Act of 2022, which expanded the Employee Plans Compliance Resolution System (EPCRS), the system through which plan sponsors…more

Audits, Employee Benefits, EPCRS, IRS, Recordkeeping Requirements

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Mayor Signs Executive Directive to Streamline and Accelerate Housing Production in Los Angeles

On Nov. 8, 2023, Los Angeles Mayor Karen Bass signed Executive Directive No. 7, which aims to streamline and accelerate housing production in Los Angeles…more

Affordable Housing, City of Los Angeles, Housing Developers, Real Estate Development

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District of Columbia Enacts New Pay Transparency Law

On Jan. 12, 2024, Washington, D.C. Mayor Muriel Bowser signed a new pay transparency act. The act takes effect on June 30, 2024, and requires D.C. employers to post salary ranges and benefits information for open positions, and…more

Employer Liability Issues, Hiring & Firing, Job Applicants, Pay Transparency, Wage and Hour

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Ounce of Prevention: Is a Selling Hospice or Home Health Agency Ready for the 36-Month Rule?

Applicable Provider Types: Hospice; Home Health Agency - Is Your Entity in Compliance? The Centers for Medicare & Medicaid Services (CMS) finalized and expanded its so-called 36-month rule with certain changes applicable…more

Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Home Health Care, Hospice, Medicare

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Deputy Attorney General Monaco Announces New DOJ Whistleblower Program

On March 7, 2024, U.S. Deputy Attorney General Lisa Monaco gave remarks at the American Bar Association’s 39th National Institute on White Collar Crime in San Francisco, California. Monaco provided updates on the U.S. Department…more

Criminal Prosecution, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA), Securities and Exchange Commission (SEC), Whistleblowers

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Fairfax County Board Adopts Data Center Zoning Changes

On Sept. 10, 2024, the Fairfax County, Virginia Board of Supervisors approved a zoning ordinance amendment that creates new restrictions for data centers. The amended ordinance permits by-right data center development in certain…more

Data Centers, State and Local Government, Urban Planning & Development, Zoning Laws

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The Most Important Class Action Decisions of 2018 and a Quick Look at What’s to Come

As the new year begins, this is a good time to recap two of the major Supreme Court decisions from the past year impacting class action law, and to look ahead to a couple big decisions on the horizon…more

Arbitration, China Agritech Inc v Resh, Class Action, Class Certification, Epic Systems Corp v Lewis

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State and Federal Policy Changes Impacting Healthcare Markets – Six Key Points

Federal and state policymakers could impact healthcare investment markets in the coming year, particularly as more policymakers learn about private equity investment in the healthcare space, according to experts who spoke on a…more

Healthcare Reform, Private Equity, Surprise Medical Bills, Telemedicine

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California’s Amended PAGA Statute Eases Burdens on Employers

The California Legislature passed legislation on June 27, 2024, representing a significant overhaul of the Labor Code Private Attorneys General Act of 2004 (PAGA). PAGA permits a current or former employee to pursue an action…more

Class Action, Class Certification, Employer Liability Issues, Employment Litigation, Labor Code

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Time to Update Your Partnership Agreement: New Rules Address Partnership Representatives for IRS Audits

Last week, the U.S. Department of the Treasury and the Internal Revenue Service issued final regulations concerning the designation and authority of a partnership representative under the centralized partnership audit regime…more

Audits, IRS, Partnership Agreements, Partnerships, Proposed Regulation

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Steps for Companies to Maximize Potential Insurance Recovery After the EPA’s Recent PFAS Designation

On April 19, 2024, the U.S. Environmental Protection Agency announced the designation of two per- and polyfluoroalkyl substances (PFAS)—perfluorooctanoic acid (PFOA) and perfluorooctanesulfonic acid (PFOS) and their salts and…more

CERCLA, Contamination, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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Fourth Circuit: “Fair Ground of Doubt” Standard Applies to Contempt Allegations in Chapter 11 Cases

In June 2019, the U.S. Supreme Court issued its unanimous decision in Taggart v. Lorenzen, through which it turned to general standards governing contempt outside of bankruptcy in holding a creditor may not be found in contempt…more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors

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Key Takeaways From the McGuireWoods Independent Sponsor Conference

On Oct. 2-3, McGuireWoods hosted its second annual Independent Sponsor Conference in Dallas, attended by more than 600 independent sponsors and capital providers from more than 35 U.S. states and Canada…more

Investment, Investors, Private Equity, Private Equity Funds

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IRS Issues More Guidance for Section 48C Advanced Energy Project Tax Credit Allocation Program

The Inflation Reduction Act of 2022 (IRA) extended and modified a federal investment tax credit for advanced energy manufacturing projects under Section 48C of the Code. Section 48C provides incentives for clean energy…more

Clean Energy, Energy Projects, Inflation Reduction Act (IRA), IRS, Tax Credits

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Key Takeaways From McGuireWoods’ Webinar on HIPAA and Cybersecurity for Medical Device Companies

On Jan. 17, 2024, McGuireWoods partners Kimberly Kannensohn and Sam Bernstein conducted a webinar regarding how the Health Insurance Portability and Accountability Act (HIPAA) applies to medical device companies and certain U.S…more

Cybersecurity, Data Privacy, Data Protection, Data Security, Health Care Providers

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2024 State Attorney General Races: Where’s the Action?

The 2024 United States Attorney General elections, set for November 5, 2024, will determine the attorneys general of ten U.S. states. These elections coincide with the presidential election, Senate and House of Representatives…more

Political Campaigns, Political Candidates, State and Local Government, State Attorneys General, State Elections

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Homeland Security Provides New Flexible Option for Remote Form I-9 Document Inspection

On July 21, 2023, the U.S. Department of Homeland Security (DHS) announced a new flexible option for remote completion of Form I-9 and inspection of accompanying identity and eligibility documents. This option is available to…more

Department of Homeland Security (DHS), E-Verify, Employment Eligibility Verification, Foreign Workers, Form I-9

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Congressional Investigations: Beyond Sensational Headlines — Incoming House Leaders Announce Broad Investigative Priorities Targeting Business Community

In the politically explosive atmosphere of Washington, the talk of the town is focused on congressional investigations: who will be called before Congress, and when. Newspaper headlines blare the latest controversy — from use of…more

Congressional Committees, Congressional Investigations & Hearings, Corporate Counsel, Trump Administration

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LMA Publish Recommended Form of Reference Rate Selection Agreement

On June 4, 2021, the Loan Market Association (LMA) published a recommended form of its reference rate selection agreement (the Selection Agreement), which has been updated following market feedback. The Selection Agreement has…more

Inter-Bank Offered Rates (IBORs), Interest Rates, Loan Market Association, Risk Free Rates (RFRs), UK

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4 Takeaways from the Opportunity Zone SuperConference

Benton Blaine, vice president with McGuireWoods Consulting’s infrastructure and economic development team, joined industry experts in Dallas, Texas this month for the Opportunity Zone SuperConference. The conference brought…more

Community Development, Economic Development, Investment Funds, Investors, Opportunity Zones

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U.S. Department of Commerce to Investigate Imports of Transformer Components

On May 4, 2020, U.S. Secretary of Commerce Wilbur Ross announced that the Department of Commerce will review imports of grain-oriented electrical steel laminations for transformer components under Section 232 of the Trade…more

Imports, Section 232, Trump Administration, U.S. Commerce Department

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Interesting — Texas Court Rules Unpaid Royalty Payments not Subject to Compound Interest

Are unpaid royalty payments for oil-and-gas leases subject to simple or compound interest? Simple, the Texas Supreme Court said in Samson Exploration, LLC v. Bordages on June 7, 2024…more

Energy Sector, Gas Royalties, Mineral Leases, Natural Gas, Oil & Gas

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New Rules for Small Business Government Contractors

On Dec. 17, 2018, President Trump signed the Small Business Runway Extension Act of 2018 into law. It amends § 3(a)(2)(C)(i)(II) of the Small Business Act “by striking ‘3 years’ and inserting ‘5 years,’” so a contractor’s size…more

Federal Acquisition Regulations (FAR), Federal Contractors, SBA, Small Business

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There’s Still Time to Help Your Employees Vote

Election Day is less than four weeks away, but there’s still time to encourage your employees to vote. Voter participation is good for democracy—and for your business. Your efforts to help employees cast their ballot underscore…more

Presidential Elections, Voting Rights

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South Carolina 2021 Legislative Preview

The 124th session of the South Carolina General Assembly will convene on January 12, 2021, marking the first year of a two-year legislative session. Legislators in both the House and Senate began pre-filing legislation on…more

Abortion, Hate Crimes, Redistricting, State and Local Government, State Legislatures

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SBA Releases SBIC Funds Limited Partners’ Recertification Notice

The United States Small Business Administration (SBA) released its annual recertification notice on June 4, 2015. Small Business Investment Company (SBIC) Funds with unfunded commitments from Institutional Investors must…more

Filing Deadlines, Institutional Investors, Recertification, SBA, SBIC

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UK Ruling a “Significant Step” Toward Certainty for COVID-19 Business Interruption Claims

On 15 September 2020, the High Court handed down judgment in The Financial Conduct Authority v Arch and Others, which determined issues of principle relating to business interruption claims arising from the COVID-19 outbreak…more

Business Interruption, Commercial Insurance Policies, Coronavirus/COVID-19, Financial Conduct Authority (FCA), Insurance Claims

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Virginia Courts Approve National Rates in Complex Corporate Bankruptcy Cases

As one of the nation’s premier bankruptcy venues, the Eastern District of Virginia (“EDVA”) has attracted some of the largest and most complex corporate bankruptcies. While companies file chapter 11 bankruptcies in the EDVA for…more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors

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Date of Delivery, Not Sale: California Imposes New Requirement for Consumer Products Warranties

Starting July 1, 2023, an amendment to California’s Song-Beverly Consumer Warranty Act will prohibit warranties for consumer products sold in California from beginning their term on the date of sale. If an express warranty is…more

Contract Terms, Goods or Services, Manufacturers, Warranties

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Texas Executive Order Substantially Limits Private Employers From Mandating COVID-19 Vaccinations

On Oct. 11, 2021, Texas Gov. Greg Abbott signed Executive Order No. GA-40 (EO), which prohibits any “entity in Texas” from compelling an employee or consumer to receive a COVID-19 vaccine if that person objects to the…more

Coronavirus/COVID-19, Employer Liability Issues, Executive Orders, Governor Abbott, Infectious Diseases

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Financial Institutions and Bank Directors and Officers in the Crosshairs – Are Their Insurance Policies Really Primed and Ready?

With bank stability and the related stock market rout now dominating the headlines for the first time since the 2008 financial crisis, are financial institutions’ D&O and bankers’ professional liability / E&O (“BPL”) liability…more

Banking Sector, Banks, D&O Insurance, Financial Institutions

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Supreme Court Lowers the Standard for Discrimination Claims Based on Job Transfers

On April 17, 2024, the United States Supreme Court handed down its decision in Muldrow v. City of St. Louis, Missouri, holding that while an employee challenging a job transfer under Title VII of the Civil Rights Act of 1964…more

Adverse Employment Action, Civil Rights Act, Employee Transfers, Employer Liability Issues, Employment Litigation

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Georgia Supreme Court Ruling “in tension” with SCOTUS Precedent on Personal Jurisdiction

Many states have statutes establishing that, as a condition of registering to do business in a state, a foreign corporation consents to general personal jurisdiction in that state. Since the Supreme Court’s decision in Daimler…more

DaimlerAG, Foreign Corporations, GA Supreme Court, Personal Jurisdiction, SCOTUS

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OFAC Enforcement Action Targets Non-U.S. Business Purchasing Services From North Korean Firm

On June 26, Treasury’s Office of Foreign Assets Control (OFAC) announced the settlement of an enforcement action against an Italian animation company that violated OFAC’s sanctions on North Korea. The enforcement action…more

Economic Sanctions, Enforcement Actions, North Korea, Office of Foreign Assets Control (OFAC), Popular

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FERC’s Broadview Solar Order Has Major Implications for Solar QFs and Utilities Implementing PURPA: Impact on Future Solar + Storage QF Resources Unclear

In a decision breaking with long-established precedent, the Federal Energy Regulatory Commission (FERC) ruled in a Sept. 1, 2020, order that small power production qualifying facilities (QFs) cannot circumvent the 80 MW power…more

Energy Sector, FERC, PURPA, Qualified Energy Facilities, Solar Energy

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New Utah and Florida Laws Restrict Employer COVID-19 Vaccination Mandates

Utah and Florida recently enacted legislation that impacts employers’ ability to require employees to get the COVID-19 vaccine. On Nov. 16, 2021, Utah Gov. Spencer Cox signed into law Utah S.B. 2004. Two days later, on Nov. 18,…more

Coronavirus/COVID-19, Employer Liability Issues, Employer Mandates, Infectious Diseases, State Labor Laws

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Federal Court Upholds Pennsylvania Act 85, Says Cross-Unit Well Didn’t Breach Lease Agreement 

The Pennsylvania Act 85 of 2019 amended the Pennsylvania Oil and Gas Lease Act to add a section permitting cross-unit drilling. On Jan. 24, 2023, the U.S. District Court for the Middle District of Pennsylvania upheld Act 85 as…more

Energy Sector, Leases, Natural Gas, Oil & Gas

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Key Takeaways From McGuireWoods’ 2023 Independent Sponsor Conference

McGuireWoods recently hosted its annual Independent Sponsor Conference in Dallas, drawing more than 1,500 independent sponsors and capital providers from 47 states and the District of Columbia and eight countries. At the…more

Investors, Private Equity, Private Equity Firms, Private Equity Funds

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Illinois Takes Expansive View of Personal Jurisdiction Over Component Parts Manufacturer

Building on federal precedent regarding specific jurisdiction over vehicle manufacturers, the Appellate Court of Illinois recently extended personal jurisdiction to a component parts manufacturer in a decision with implications…more

Manufacturers, Negligence, Personal Jurisdiction, Strict Product Liability

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Texas Federal District Court Sets Aside FTC’s Non-Compete Rule Nationwide

A Texas federal district court held on Aug. 20, 2024, that the Federal Trade Commission’s rule banning most employer-employee non-compete agreements is unlawful. This decision — unlike earlier preliminary decisions — orders that…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

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Contract Research Organization Acquisitions: Critical Due Diligence Pathways

Bidding for attractive businesses in the pharma services space continues to accelerate, with new interest emerging daily from investors who traditionally have not focused on the sector. With this influx comes an urgent need to…more

Anti-Kickback Statute, Department of Health and Human Services (HHS), Department of Justice (DOJ), Due Diligence, Food and Drug Administration (FDA)

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Increased Tariffs Announced in Response to U.S. Trade Representative Review of Chinese Imports

On May 14, 2024, the Biden administration — following the conclusion of the U.S. trade representative’s (USTR’s) statutory review of Section 301 tariffs imposed on Chinese-origin goods in 2018 — announced prospective increases…more

Biden Administration, China, Imports, Section 301, Tariffs

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NLRB Issues Guidance for Academic Institutions on Labor and Privacy Laws

Institutions of higher education have seen a rise in student unionization under the National Labor Relations Act (NLRA). As part of this process, educational institutions often are required to disclose student-related…more

Educational Institutions, FERPA, NLRA, NLRB, Unions

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South Carolina 2022 Legislative Session Preview

The South Carolina General Assembly began the second year of a two-year legislative session on Jan. 11, 2022. The legislative session runs through the second Thursday in May, with the General Assembly expected to adjourn sine…more

Coronavirus/COVID-19, General Assembly, Medical Marijuana, Redistricting, State and Local Government

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End of the Road: Federal Reserve Issues Guidance for Winding Down Main Street Lending Program

The Main Street Lending Program (MSLP) is scheduled to terminate on Dec. 31, 2020. The Federal Reserve recently issued additional guidance in anticipation of winding down the program…more

Coronavirus/COVID-19, Federal Reserve, Main Street Lending Programs, Relief Measures

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Takeaways for Nonprofit Healthcare Systems From SEC Cybersecurity Disclosure Interpretations

According to the American Hospital Association, cyber criminals are becoming more organized and sophisticated. For example, in addition to attacks on the troves of patient data held by healthcare systems, cybercriminals now…more

American Hospital Association, Cybersecurity, Hospitals, Securities and Exchange Commission (SEC)

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With JLARC Study, Virginia Continues Review of Data Center Industry

On May 21, 2024, the Virginia Joint Legislative Audit and Review Commission (JLARC) held an initial public discussion to consider opportunities, issues and the evolution of possible incentives and regulations pertaining to the…more

Data Centers, Economic Development, General Assembly, State and Local Government

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Bain Capital Life Sciences Raises $3 Billion for New Fund

Bain Capital Life Sciences (BCLS) has announced a new fund with approximately $3 billion in total commitments…more

Investment, Investors, Private Equity, Private Equity Firms, Private Equity Funds

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North Carolina General Assembly Week in Review - January 2024 #2

This week, members of the North Carolina General Assembly ramped up their interim committee meeting schedule, holding hearings of the House Select Committee on Education Reform, the Joint Legislative Commission on Governmental…more

General Assembly, Legislative Agendas, State and Local Government, State Budgets, State Legislatures

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California Signs New Bill Prohibiting CA-based Tech Companies from Disclosing Data for State Abortion Investigations

Compliance with out of state investigative requests, like warrants, just got a little trickier for California companies. Under existing law, California technology and communications companies are required to produce specified…more

Abortion, Data Privacy, Governor Newsom, Investigations, Reproductive Healthcare Issues

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N.C. Adopts Remote Online Notarizing, Extends Emergency Video Notarizing and Witnessing

Many tasks that were relatively easy to accomplish became nearly impossible during the height of the COVID-19 pandemic, and while much of everyday life has returned to “normal,” some modifications to accommodate social…more

Coronavirus/COVID-19, E-Signatures, Notarization, Remote Notarization

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District Court Adopts Middle of the Road Approach in Determining Causation in Anti-Kickback Statute-Based False Claims Act Case

The U.S. District Court for the District of Maryland recently weighed in on the appropriate causation standard when evaluating whether a claim “result[s] from” a violation of the Anti-Kickback Statute sufficient to constitute a…more

Anti-Kickback Statute, False Claims Act (FCA), Health Care Providers, Healthcare Fraud

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Virginia Alcoholic Beverage Control Authority and General Assembly Make Major Policy Changes

ABC Policy Changes- Beer/Wine/Mixed Beverage Takeout and Delivery. For the first time in ABC history, ABC adjusted its licensing regulations on March 20 to allow businesses with on-premises licenses (restaurants, eat-in…more

Alcohol Beverage Control, State and Local Government, Wine & Alcohol

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Senior Living Alert: HIPAA Security Rule Compliance for Senior Living Facilities

The U.S. Cybersecurity & Infrastructure Security Agency has deemed healthcare entities “target rich, cyber poor,” meaning they have copious amounts of consumer and patient data but often do not have the cybersecurity means to…more

Cybersecurity, Data Privacy, Data Protection, Data Security, Health Care Providers

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SEC Adopts Final Rules on Climate-Related Disclosures

On March 6, 2024, the U.S. Securities and Exchange Commission (SEC) adopted much-anticipated final rules for climate-related disclosures (Final Rules). The Final Rules, adopted by a 3-2 vote along party lines, will significantly…more

Climate Change, Corporate Governance, Disclosure Requirements, Final Rules, Greenhouse Gas Emissions

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House Republicans Unveil Guidance on 2024 Congressionally Directed Spending

House - House Appropriations Chairwoman Kay Granger (R-TX) released fiscal year 2024 member request guidance. House Republicans announced as part of the guidance that congressionally directed spending, also known as earmarks,…more

Appropriation, Federal Funding, Funding, Project Finance

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Department of Commerce Issues Final Rule Imposing Tariff Moratorium for Solar Panels

On Sept. 16, 2022, the Department of Commerce (DOC) issued its final rule effectuating a two-year moratorium on tariffs on certain solar cells and modules exported from Cambodia, Malaysia, Thailand and Vietnam…more

Importers, Imports, Solar Panels, Tariffs, U.S. Commerce Department

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Texas Federal District Court Sets Aside FTC’s Non-Compete Rule Nationwide

A Texas federal district court held on Aug. 20, 2024, that the Federal Trade Commission’s rule banning most employer-employee non-compete agreements is unlawful. This decision — unlike earlier preliminary decisions — orders that…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

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DOT Charging & Fueling Infrastructure Discretionary Grant Program

The Department of Transportation (DOT) published a Notice of Funding Opportunity for the recently enacted Charging and Fueling Infrastructure (CFI) discretionary grant program. The first round of funding will deploy up to $700…more

Charging Stations, Department of Transportation (DOT), Electric Vehicles, Funding Opportunities, Infrastructure

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Recent Cases of Interest to Fiduciaries January 2018

In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: - Lynch…more

Beneficiaries, Breach of Duty, Estate Planning, Estate Tax, Fiduciary Duty

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Senior Living Alert – In the Thick of It: With Battles Raging in Statehouses, Where Do Senior Living Facilities Sit?

State legislatures nationwide are engaged in a flurry of activity as lawmakers, journalists, interest groups and citizens converge to address diverse policy issues. Debates and advocacy campaigns on topics such as social media…more

Elder Care, Health Care Providers, Long Term Care Facilities, Long-Term Care, Nursing Homes

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Virginia 2024 Legislative Update

On March 9, 2024, the Virginia General Assembly adjourned following a 60-day session during which lawmakers voted on over 3,500 pieces of legislation and negotiated a two-year state budget. The 2024 session was marked by some…more

Artificial Intelligence, Gambling, Legislative Agendas, Marijuana, Minimum Wage

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IRS Proposes Changes to Hardship Distribution Regulations

Earlier this month, the IRS proposed changes to existing rules governing distributions from 401(k) and 403(b) plans on account of certain financial hardships. The proposed regulations reflect several statutory changes enacted by…more

401k, 403(b) Plans, Bipartisan Budget Act, Employee Benefits, Hardship Distributions

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Interesting — Texas Court Rules Unpaid Royalty Payments not Subject to Compound Interest

Are unpaid royalty payments for oil-and-gas leases subject to simple or compound interest? Simple, the Texas Supreme Court said in Samson Exploration, LLC v. Bordages on June 7, 2024…more

Energy Sector, Gas Royalties, Mineral Leases, Natural Gas, Oil & Gas

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Donor Advised Funds: Proposed Regs Offer Guidance, But Leave Big Questions Unanswered

For the past 16 years, the U.S. Department of the Treasury’s Office of Tax Policy and the Internal Revenue Service’s joint Priority Guidance Plan has included the issuance of regulations relating to donor advised funds (DAFs) to…more

Donor-Advised Funds (DAFs), Excise Tax, Internal Revenue Code (IRC), IRS, Proposed Regulation

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State Environmental Enforcement Policies During COVID-19 And Response To EPA “Discretion” Policy

On March 26, 2020, the U.S. Environmental Protection Agency (EPA) announced it may ease enforcement of environmental legal obligations during the COVID-19 national emergency. Though some incorrectly interpreted this announcement…more

Coronavirus/COVID-19, Enforcement Guidance, Environmental Policies, Environmental Protection Agency (EPA), Environmental Violations

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COVID-19: IRS Aids State and Local Governments With Tax-Exempt Tender Bonds and Commercial Paper

State and local governments frequently finance capital projects such as airports and utility systems by issuing tax-exempt qualified tender bonds (also commonly called variable rate demand obligations or “lower-floaters”) and…more

Coronavirus/COVID-19, IRS, Relief Measures, State and Local Government

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Illinois 2021 Legislative Preview

The Illinois legislature hoped to build on its blockbuster 2019 with a comprehensive energy bill, changes to the tax structure for a Chicago casino to ensure the project’s viability, a worker classification bill for the gig…more

Coronavirus/COVID-19, Ethics, Lobbying, Redistricting, State and Local Government

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Wind PTC and Solar ITC Gain COVID-19 Construction Relief From IRS

On May 27, 2020, the Internal Revenue Service issued Notice 2020-41, providing taxpayers with relief for purposes of satisfying the beginning-of-construction requirement for qualifying production tax credit (PTC) and investment…more

Energy Projects, Energy Sector, Investment Tax Credits, IRS, Production Tax Credit

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Key Takeaways From the 2024 Healthcare Private Equity and Finance Conference

McGuireWoods recently held its 20th Annual Healthcare Private Equity and Finance Conference (HCPE Conference) in Chicago. The conference drew more than 1,000 professionals from private equity funds, senior and mezzanine lenders,…more

Acquisitions, Investment, Investors, Private Equity, Private Equity Firms

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Notable Litigation – December 2023

Notable litigation filed during December 2023 includes: (1) Wells, et al. v. Edisto River Investors, LLC, et al.; (2) Dagan, et al. v. Greenfield, et al.; (3) SEC v. Agridime LLC, et al.; and (4) Barnett, et al. v. Bey, et al…more

Breach of Duty, Fiduciary Duty, Securities and Exchange Commission (SEC), Securities Fraud, Securities Litigation

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End of the Road: Federal Reserve Issues Guidance for Winding Down Main Street Lending Program

The Main Street Lending Program (MSLP) is scheduled to terminate on Dec. 31, 2020. The Federal Reserve recently issued additional guidance in anticipation of winding down the program…more

Coronavirus/COVID-19, Federal Reserve, Main Street Lending Programs, Relief Measures

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CMS 2025 Payment Proposals Could Impact Cardiology

The Centers for Medicare & Medicaid Services (CMS) recently published two proposed rules that could affect Medicare reimbursement for cardiology services. On July 22, 2024, CMS published the Calendar Year (CY) 2025 Hospital…more

Ambulatory Surgery Centers, Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Medicare, Outpatient Prospective Payment System (OPPS)

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High Court Says “Pure Omissions” on Public Disclosures Not Actionable Under Rule 10b-5(b)

For about 90 years, public companies have devoted significant time and resources toward complying in their public disclosures with Rule 10b-5, a regulation created under the Securities and Exchange Act of 1934 that prohibits…more

Macquarie Infrastructure Corp v Moab Partners LP, Omissions, Rule 10b-5, SCOTUS, Securities and Exchange Commission (SEC)

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NLRB Dismisses Decertification Petition Because Union’s Disclaimer of Interest Effectively Mooted Employees’ Vote

Walgreens Boots Alliance d/b/a Walgreens Co. and Denise Bentley and United Food and Commercial Workers District Union Local One, case number 03-RD-321385, before the National Labor Relations Board Region 3…more

NLRB, UFCW, Unfair Labor Practices, Unions

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OFCCP Acting Director Hodge Outlines Enforcement for Federal Contractors

Office of Federal Contract Compliance Programs (OFCCP) Acting Director Michele Hodge spoke on July 30, 2024, to a live audience at the 2024 National Industry Liaison Group (NILG) Conference in Orlando, Florida. As part of her…more

Affirmative Action, Department of Labor (DOL), Federal Contractors, OFCCP

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SEC Releases Proposed New Rules on Climate-Related Disclosures

On March 21, 2022, the U.S. Securities and Exchange Commission (SEC) issued proposed rules to significantly expand and standardize climate-related disclosures in SEC periodic reports and registration statements. According to…more

Climate Change, Disclosure Requirements, Greenhouse Gas Emissions, Proposed Rules, Public Comment

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N.C. Adopts Remote Online Notarizing, Extends Emergency Video Notarizing and Witnessing

Many tasks that were relatively easy to accomplish became nearly impossible during the height of the COVID-19 pandemic, and while much of everyday life has returned to “normal,” some modifications to accommodate social…more

Coronavirus/COVID-19, E-Signatures, Notarization, Remote Notarization

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TCPA Standing: A New Circuit Split and Other Developments

Two U.S. Circuit Courts of Appeals recently weighed in on what it takes to establish standing to pursue a Telephone Consumer Protection Act (TCPA) claim. The 5th Circuit held that receipt of one unwanted text message is enough…more

Article III, Corporate Counsel, Debt Collection, Debt Collectors, FDCPA

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Legislation on Small Modular Reactor Development Advances Virginia’s Shift to Clean Energy

Virginia has taken a significant further step to promote clean energy. The General Assembly recently passed legislation promoting the development of small modular nuclear reactor (SMR) electric-generating facilities. Under the…more

Clean Energy, Energy Projects, Energy Sector, Nuclear Power, Power Plants

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Fifth Circuit Holds Off On Deciding Approach To Class Standing Analysis

In conjunction with the G7 Summit in Japan, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) introduced additional economic sanctions on May 19, 2023, with the aim of further limiting the Russian…more

Class Action, Class Certification, FRCP 23, Standing

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Ninth Circuit Reverses Award of Attorneys’ Fees More than 30 Times Greater than Amount Received by Class Members

In Lowery v. Rhapsody International, Inc., —F.4th—, 2023 WL 3857499 (June 7, 2023), the Ninth Circuit Court of Appeals recently reversed an award of attorneys’ fees to class counsel that was more than thirty times the amount the…more

Class Action, Class Members, Copyright, Copyright Infringement, Copyright Litigation

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Distributor of Ophthalmic Surgical Products Found Guilty of Paying Kickbacks and Violating the False Claims Act: May Be Liable For Up To $848 Million in Civil Damages and Penalties

On February 28, 2023, a federal jury in the District of Minnesota found the Cameron-Ehlen Group, d/b/a Precision Lens, and its founder and owner Paul Ehlen (the “Defendants”) guilty of paying kickbacks to ophthalmic surgeons in…more

Anti-Kickback Statute, False Claims Act (FCA), Health Care Providers, Kickbacks, Physicians

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Managed Care Quarterly Review: Issue 1

Tips for Managing Large Claims Disputes Part 1: Pre-Litigation Avoidance and Early Litigation Strategies - Large claims disputes brought by providers against payers are on the rise. Based on previous experience with dozens of…more

1332 Waiver, Affordable Care Act, Employee Retirement Income Security Act (ERISA), False Claims Act (FCA), Health Insurance Portability and Accountability Act (HIPAA)

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Multistate 2024 Education Legislative Update

LEGISLATORS ADDRESS A VARIETY OF EDUCATION ISSUES IN 2024 - As we approach completion of the first quarter of 2024, many states are gearing up for their legislative sessions while others have adjourned for the year. Education…more

Colleges, Educational Institutions, Public Schools, School Districts, State and Local Government

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FDA Issues Draft Guidance for Cosmetic Product Listing and Facility Registration

On Aug. 7, 2023, the U.S. Food and Drug Administration (FDA) released draft guidance, “Registration and Listing of Cosmetic Product Facilities and Products: Guidance for Industry,” which would require facilities that manufacture…more

Cosmetics, Draft Guidance, Food and Drug Administration (FDA), Manufacturers, Registration Requirement

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Healthcare & Life Sciences Private Equity Deal Tracker: Blackstone to Acquire Chartis From Audax

Blackstone will acquire Chartis from Audax Private Equity, according to a news release. Audax will remain invested in the company…more

Investment, Investors, Private Equity, Private Equity Firms, Private Equity Funds

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FERC Proposes Overhauling Electronic Quarterly Report Filing Process and Data Submission

On Oct. 19, 2023, the Federal Energy Regulatory Commission (FERC) issued a Notice of Proposed Rulemaking (NOPR) in Docket No. RM23-9-000 to modify filing processes for Electronic Quarterly Reports (EQRs) and revise and eliminate…more

Energy Sector, FERC, Filing Deadlines, Filing Requirements, Reporting Requirements

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Emerging Technologies Washington Update - August 2020 #3

This week: Agencies issue guidance on UAS detection and mitigation technology; White House calls for 30% boost to AI and quantum information science funding; California approves final CCPA regulations; DOE and DOD announce First…more

Artificial Intelligence, California Consumer Privacy Act (CCPA), Data Privacy, Department of Defense (DOD), Department of Energy (DOE)

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Women in PE to Know: Yichen Feng

The interview below is part of an ongoing effort by McGuireWoods to profile women leaders in private equity (PE). To recommend a woman for a future interview, email Amber Walsh at awalsh@mcguirewoods.com…more

Business Development, Career Development, Entrepreneurs, Private Equity, Professional Development

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Five Key Takeaways: Protection of Trade Secrets

Whether in the deal room or the workplace, trade secret protection is a critical component of a company’s intellectual property strategy. In some ways, the nature of that protection has evolved in light of the pandemic and an…more

Confidential Information, Employment Policies, Intellectual Property Protection, Misappropriation, Non-Disclosure Agreement

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Pennsylvania Supreme Court Recognizes a New Cause of Action Against Those Who Aid and Abet Fraud

With a new decision settling the issue, businesses run the risk of being held liable for the conduct of their customers with the potential for increased Ponzi scheme related litigation following the Pennsylvania Supreme Court’s…more

Aiding and Abetting, Banks, Fraud, PA Supreme Court

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Federal Adaptive Reuse Bill Introduced in House of Representatives

U.S. Reps. Mike Carey (R-OH) and Jimmy Gomez (D-CA) introduced the bipartisan “Revitalizing Downtowns and Main Streets Act” in the House of Representatives on July 12, 2024. Modeled after the Historic Preservation Tax Credit,…more

Affordable Housing, Property Owners, Residential Real Estate Market, Tax Credits

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DOJ and NLRB Announce New Partnership to Enhance Enforcement in Labor Markets

On July 26, 2022, the U.S. Department of Justice (DOJ) Antitrust Division and the National Labor Relations Board (NLRB) signed a joint memorandum of understanding (MOU) with the goal of “promoting the free flow of commerce and…more

Antitrust Division, Antitrust Violations, Department of Justice (DOJ), Federal Trade Commission (FTC), Memorandum of Understanding

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The More Things Change, the More They Stay the Same: AI Inventorship and Patent Litigation

Artificial intelligence (AI) cannot be the inventor or co-inventor on a patent but can be used as a tool. That is the gist of the U.S. Patent and Trademark Office’s (USPTO) recently released Inventorship Guidance for AI-Assisted…more

Artificial Intelligence, Intellectual Property Protection, Inventions, Inventors, Patent Applications

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Divided NLRB Reaffirms Employees’ Right to Wear Union Apparel Absent “Special Circumstances”

On Aug. 29, 2022, the National Labor Relations Board (NLRB) ruled in a 3-2 decision along party lines in Tesla, Inc. , 370 NLRB No. 131 (2022), that an employer cannot impose any restriction on its employees’ right to wear union…more

Employee Rights, Employer Liability Issues, Employment Policies, NLRB, Tesla

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CFPB Proposes Changes to No-Action Letter Policy and Creation of Product Sandbox

The CFPB is proposing revisions to its 2016 no-action letter (“NAL”) policy and is planning to establish “BCFP Product Sandbox,” a regulatory sandbox that would encourage financial institutions to explore innovative products…more

Comment Period, Consumer Financial Protection Bureau (CFPB), Financial Institutions, No-Action Letters

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ITC Upholds $6 Million Penalty for Consent Order Violations Based on Patent Claims Later Found Invalid

The International Trade Commission recently denied a request by an ITC respondent to rescind a $6 million penalty for violating a consent order based on patent claims later found invalid…more

Consent Order, International Trade Commission (ITC), Patent Infringement, Patent Invalidity, Patents

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Rural/Metro: Delaware Supreme Court Affirms $76 Million Award Against Financial Advisor: Holds That Financial Advisors Are Not Gatekeepers

On November 30, 2015, the Delaware Supreme Court issued an opinion affirming the Court of Chancery’s decision in In re Rural/Metro Corporation Stockholders Litigation. In the earlier decisions, the Court of Chancery found that…more

Aiding and Abetting, Breach of Duty, Fiduciary Duty, Financial Adviser, Gross Negligence

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Market Update: Pent-Up Demand in Healthcare Services M&A

At McGuireWoods’ 16th annual Healthcare Finance & Growth (HCFG) Conference, panels of healthcare-focused investors and lenders provided insights about the healthcare M&A and debt markets…more

Borrowers, Investment, Investors, Private Equity, Private Equity Firms

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Demand for Data Center Projects Remains High Across Virginia With Varying Levels of Regulation

Demand for data center development opportunities remains at unprecedented levels across Virginia. But how the industry is regulated by Virginia’s diverse cities and counties is not uniform…more

Data Centers, Local Ordinance, Urban Planning & Development, Zoning Laws

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Is the Future of the Dollar Digital? The Fed Talks Updating Greenbacks to the Blockchain

On May 26, three days into her term as Vice Chair of the Federal Reserve, Lael Brainard testified about the Federal Reserve’s Examination of the Benefits and Risks of a U.S. Central Bank Digital Currency (CBDC) before the House…more

Blockchain, Central Bank Digital Currency (CBDCs), Cryptocurrency, Digital Assets, Digital Currency

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FTC Under Pressure from Congress to Investigate Violations of Child Privacy Laws

In August, the Federal Trade Commission (FTC) approved changes to a video game industry program in an effort to ensure compliance with the Children’s Online Privacy Protection Act (COPPA). This comes after a 2017 study finding…more

COPPA, Data Collection, Federal Trade Commission (FTC), Mobile Apps, Online Safety for Children

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Notable Litigation – March 2023

Notable litigation filed during March 2023 includes: (1) SEC v. Woodard; (2) SEC v. Kaplan; (3) James Bay Resources Limited, et al. v. Lockett & Horwitz, et al.; (4) Miklos v. McNamara, et al.; and (5) Scura, et al. v. Heppner,…more

Investors, Securities and Exchange Commission (SEC), Securities Fraud, Securities Litigation, Securities Violations

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The Foreign Extortion Prevention Act: Another Tool to Fight Foreign Corruption

In recent years, the Biden Administration has been vocal that combatting foreign public corruption is a key pillar of its national security efforts.orr Consistent with those policy goals, on December 22, 2023, Congress passed…more

Corruption, Extortion, FEPA, Foreign Corrupt Practices Act (FCPA)

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Public Entities: Securing Federal Funds for 2024 and Beyond Starts Now

Now is the time for local governments, higher education institutions, development authorities and other public entities to best position themselves to harness the once-in-a-generation federal funding flowing out of Washington,…more

Construction Project, Infrastructure, Public Entities, Public Projects

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South Carolina 2021 Legislative Preview

The 124th session of the South Carolina General Assembly will convene on January 12, 2021, marking the first year of a two-year legislative session. Legislators in both the House and Senate began pre-filing legislation on…more

Abortion, Hate Crimes, Redistricting, State and Local Government, State Legislatures

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N.C. General Assembly Amends Ballot Question for 2024 Bond Referenda and Beyond

For the first time since 2013, the North Carolina General Assembly has altered the form of ballot question local governments must use to secure voter approval of general obligation (GO) bonds. These revisions — contained in…more

Disclosure Requirements, General Assembly, Property Tax, State and Local Government, Tax Liability

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CIPA: An Old Statute Provides a New Frontier for Serial Filing Plaintiffs Against Retailers with Online Chat Services

Introduction - If you have ever telephoned a customer support hotline to be greeted with an explanation that “this call may be monitored for quality assurance,” you are familiar with the implications of various state laws…more

CIPA, Electronic Monitoring, Invasion of Privacy, Websites, Wiretapping

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Up-and-Coming Women in PE to Know: Molly Williams Martin

The interview below is part of a yearlong effort by McGuireWoods to profile up-and-coming women leaders in private equity (PE). This profile series complements our existing Women Leaders in Private Equity profile series, which…more

Career Development, Private Equity, Professional Development

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Congressional Investigations: Beyond Sensational Headlines — Incoming House Leaders Announce Broad Investigative Priorities Targeting Business Community

In the politically explosive atmosphere of Washington, the talk of the town is focused on congressional investigations: who will be called before Congress, and when. Newspaper headlines blare the latest controversy — from use of…more

Congressional Committees, Congressional Investigations & Hearings, Corporate Counsel, Trump Administration

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LMA Publishes New RFR Documentation and Updates Exposure Drafts to Recommended Forms

On March 30, 2021, the LMA published its exposure draft RFR documentation as recommended forms, and updated the documentation to reflect, among other things, the Sterling Risk-free Rate Working Group’s (the Working Group)…more

Financial Conduct Authority (FCA), Interest Rates, Libor, Secured Overnight Funding Rate (SOFR)

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Takeaways for Nonprofit Healthcare Systems From SEC Cybersecurity Disclosure Interpretations

According to the American Hospital Association, cyber criminals are becoming more organized and sophisticated. For example, in addition to attacks on the troves of patient data held by healthcare systems, cybercriminals now…more

American Hospital Association, Cybersecurity, Hospitals, Securities and Exchange Commission (SEC)

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Department of Labor Issues Final Rule Vastly Increasing Federal Overtime Eligibility

In a highly anticipated announcement, the U.S. Department of Labor (DOL) published its final rule on April 23, 2024, increasing salary threshold amounts required for certain employees to be “exempt” from federal Fair Labor…more

Department of Labor (DOL), Fair Labor Standards Act (FLSA), Final Rules, Over-Time, Wage and Hour

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En Banc 11th Circuit Joins Sister Circuits, Deeming One Text Message Enough for TCPA Standing

Once an outlier, the 11th U.S. Circuit Court of Appeals recently joined seven of its sister Circuit Courts in holding that receipt of a single, unwanted text message constitutes the concrete injury required for standing in class…more

Article III, Corporate Counsel, Injury-in-Fact, Standing, TCPA

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CPSC Issues “Unofficial” COVID-19 Guidance on Personal Protective Equipment, Disinfectants

The Consumer Product Safety Commission (CPSC) has posted a webpage that purports to provide guidance on COVID-19-related consumer products. The CPSC’s new COVID-19 guidance covers two general categories..…more

Consumer Product Safety Commission (CPSC), Coronavirus/COVID-19, FHSA, Food and Drug Administration (FDA), Personal Protective Equipment

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Illinois End of Session Update

Speaker Welch First-Term Highlights - Illinois elected a new Speaker of the House for the first time in almost 40 years after former House Speaker Michael Madigan was ousted from his leadership and later resigned at the…more

Affordable Housing, Cybersecurity, General Assembly, Omnibus Guidance, Popular

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Virginia Increases Earnings Threshold for Prohibition on Non-Competes for “Low Wage Employees”

Since July 1, 2020, Virginia has prohibited employers from entering into, enforcing or threatening to enforce non-compete agreements with “low wage employees.” The definition of “low wage employee” periodically changes because…more

Employer Liability Issues, Employment Contract, Low-Wage Workers, Non-Compete Agreements, Restrictive Covenants

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Texas Supreme Court Hears Oral Argument in Major Winter Storm Uri Case

In February 2021, winter storm Uri hit Texas, causing a sharp spike in electricity demand that could not be satisfied by available generation resources, resulting in statewide blackouts. Commercial, industrial and residential…more

Electricity, Energy Sector, Public Utilities Commission, Severe Weather, Texas

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Build Back Better Act: House Ways and Means Committee Tax Proposals – Key Issues for Corporations, Passthrough Entities, and Individuals

On Sept. 15, 2021, the Ways and Means Committee of the U.S. House of Representatives approved a proposed tax legislative package (the “W&M proposal”) to the Build Back Better Act reconciliation bill (the “Act”), which proposal…more

Controlled Foreign Corporations, Corporate Taxes, GILTI tax, Income Taxes, Pass-Through Entities

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The Perils of Global Expansion: World’s Largest Ad Agency Sanctioned $19 Million for FCPA Violations, Insufficient Controls

Global expansion without adequate controls is asking for trouble. That’s the lesson of a $19 million settlement between WPP, the world’s largest advertising agency, and the U.S. Securities and Exchange Commission (SEC) to…more

Bribery, CEOs, Compliance, Corruption, Foreign Corrupt Practices Act (FCPA)

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SEC Updates Requirements for Shareholder Proposals Included in Company Proxy Statements

On Sept. 23, 2020, the U.S. Securities and Exchange Commission (SEC) announced the adoption of final rules amending Exchange Act Rule 14a-8 to make the following revisions to requirements for a shareholder to have a proposal…more

Amended Rules, Corporate Governance, Rule 14a-8, Securities and Exchange Commission (SEC), Securities Exchange Act

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Federal Circuit: Admitted Prior Art Cannot Form Basis of Inter Partes Review Challenge

In Qualcomm Incorporated v. Apple Inc., the U.S. Court of Appeals for the Federal Circuit vacated a decision of the Patent Trial and Appeal Board (PTAB) finding that admitted prior art in Qualcomm’s patent was “prior art” that…more

Inter Partes Review (IPR) Proceeding, Patent Litigation, Patent Trial and Appeal Board, Patents, Prior Art

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Measure of Damages for Breach of Warranty

Oversea-Chinese Banking Corporation Ltd v ING Bank NV [2019] EWHC 676 (Comm) saw a creative argument put forward in the High Court regarding the measure of damages for breach of warranty in a share purchase agreement, but the…more

Breach of Warranty, Share Purchase Agreements, UK

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FERC Proposes Overhauling Electronic Quarterly Report Filing Process and Data Submission

On Oct. 19, 2023, the Federal Energy Regulatory Commission (FERC) issued a Notice of Proposed Rulemaking (NOPR) in Docket No. RM23-9-000 to modify filing processes for Electronic Quarterly Reports (EQRs) and revise and eliminate…more

Energy Sector, FERC, Filing Deadlines, Filing Requirements, Reporting Requirements

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Ericsson Pleads Guilty, Agrees to Pay $206M in Fines, Following Alleged Violation of FCPA Deferred Prosecution Agreement

Last week, the U.S. Department of Justice (DOJ) announced that Sweden-based multinational telecommunications company Telefonaktiebolaget LM Ericsson (Ericsson) will plead guilty to breaching the Foreign Corrupt Practices Act…more

Anti-Bribery, Bribery, Deferred Prosecution Agreements, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA)

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New Year, Old Problem: Broker-Dealers Should Evaluate Their Supervision of Personal Device Use

Many companies that transitioned to a work-from-home environment in early 2020 may have reasonably anticipated a return to the normalcy of in-office operations by the end of the year. Yet as 2021 commences, remote work has…more

Broker-Dealer, Coronavirus/COVID-19, Email, Financial Industry Regulatory Authority (FINRA), Mobile Devices

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New FCA Measures to Aid UK-Regulated Market and SME Growth Market Companies

Recognising the vital role of capital markets in mitigating the effects of COVID-19, on April 8, 2020, the UK’s Financial Conduct Authority (FCA) announced additional primary market measures intended to aid companies listed on a…more

Capital Markets, Coronavirus/COVID-19, European Securities and Markets Authority (ESMA), Financial Conduct Authority (FCA), UK

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Incorporating Excusable Delays Into Firm Fixed-Price Subcontracts May Create Liability

In L3Harris Maritime Services, Inc f/k/a L-3 Unidyne, Inc. v. BAE Systems, Norfolk Ship Repair Inc., U.S. Magistrate Judge Robert Krask from the Norfolk Division of the Eastern District of Virginia recently held that, even in a…more

Contractors, Coronavirus/COVID-19, Delays, Fixed Price Contracts, Subcontractors

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Use It or Lose It: U.S. Patent and Trademark Office to Audit Certain Existing Trademark Registrations

Move over IRS, the U.S. Patent and Trademark Office (USPTO) is jumping on the audit bandwagon. The USPTO has recently implemented a new auditing program aimed at promoting “the accuracy and integrity of the trademark register.”…more

Audits, Corporate Counsel, Intellectual Property Protection, Trademark Registration, Trademarks

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SEC Releases Proposed New Rules on Climate-Related Disclosures

On March 21, 2022, the U.S. Securities and Exchange Commission (SEC) issued proposed rules to significantly expand and standardize climate-related disclosures in SEC periodic reports and registration statements. According to…more

Climate Change, Disclosure Requirements, Greenhouse Gas Emissions, Proposed Rules, Public Comment

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FERC’s Broadview Solar Order Has Major Implications for Solar QFs and Utilities Implementing PURPA: Impact on Future Solar + Storage QF Resources Unclear

In a decision breaking with long-established precedent, the Federal Energy Regulatory Commission (FERC) ruled in a Sept. 1, 2020, order that small power production qualifying facilities (QFs) cannot circumvent the 80 MW power…more

Energy Sector, FERC, PURPA, Qualified Energy Facilities, Solar Energy

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Winter Storm Uri Power Dispute Reaches the Supreme Court of Texas

On Sept. 29, 2023, the Supreme Court of Texas announced it will review a lower court’s reversal of two winter storm Uri orders by the Public Utility Commission of Texas (PUCT), which date back to 2021. During the historic winter…more

Electricity, Energy Sector, Public Utilities Commission, Severe Weather, Texas

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Fourth Circuit Vacates and Remands Class Certification Decision in Accordance with Supreme Court’s Directive to Consider Ramirez’s Effect on Issues of Standing in Mortgage Class Action

On October 28, 2022, the U.S. Court of Appeals for the Fourth Circuit in Alig v. Rocket Mortgage vacated and remanded for reconsideration a district court order certifying a class of mortgage borrowers, highlighting an important…more

Article III, Class Action, Class Certification, Remand, Standing

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Interesting — Texas Court Rules Unpaid Royalty Payments not Subject to Compound Interest

Are unpaid royalty payments for oil-and-gas leases subject to simple or compound interest? Simple, the Texas Supreme Court said in Samson Exploration, LLC v. Bordages on June 7, 2024…more

Energy Sector, Gas Royalties, Mineral Leases, Natural Gas, Oil & Gas

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Ten Action Items for Healthcare Portfolio Companies in 2024

The investor-backed provider community may be feeling pressure and facing scrutiny from various angles in 2024, as federal and state agencies implement complex pre-closing review processes for healthcare transactions from an…more

Antitrust Provisions, Competition, Department of Justice (DOJ), Enforcement Actions, Federal Trade Commission (FTC)

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10 Snap Observations on the 2018 Midterm Elections

In a Nov. 9 Law360 article, McGuireWoods Consulting senior advisor, Frank Donatelli, reviewed the 2018 midterm elections with ten snap observations. TEN: The turnout for the 2018 midterms was the largest in history –…more

Election Results, Federal Elections, Local Elections, State Elections

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New Bankruptcy Ruling Could Impact Future Midstream Contracts

On Oct. 28, 2020, the U.S. Bankruptcy Court for the Southern District of Texas delivered a key ruling affecting: (1) purchase and sale agreements for produced gas and severed minerals; and (2) agreements with “exclusive remedy”…more

Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Covenants that Run With the Land, Energy Sector

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Women in PE to Know: Erin Andrew

The interview below is part of an ongoing effort by McGuireWoods to profile women leaders in private equity (PE). To recommend a woman for a future interview, email Amber Walsh at awalsh@mcguirewoods.com…more

Business Development, Career Development, Entrepreneurs, Professional Development

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The U.K. Economic Crime and Corporate Transparency Act’s New Responsibilities for Companies

On 26 October 2023, the Economic Crime and Corporate Transparency Act 2023 became law. The new U.K. law is designed to fight corruption, money laundering and fraud, has major implications for businesses and will engender major…more

Corporate Transparency Act, Financial Crimes, Fraud, Money Laundering, UK

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Ericsson Pleads Guilty, Agrees to Pay $206M in Fines, Following Alleged Violation of FCPA Deferred Prosecution Agreement

Last week, the U.S. Department of Justice (DOJ) announced that Sweden-based multinational telecommunications company Telefonaktiebolaget LM Ericsson (Ericsson) will plead guilty to breaching the Foreign Corrupt Practices Act…more

Anti-Bribery, Bribery, Deferred Prosecution Agreements, Department of Justice (DOJ), Foreign Corrupt Practices Act (FCPA)

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What Kaestner Decision Means for State Income Taxation of Trusts

On June 21, 2019, the U.S. Supreme Court issued a unanimous opinion, delivered by Justice Sotomayor, in North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust, holding that the North Carolina statute…more

Beneficiaries, Due Process, Estate Tax, Exclusive Control, Forum State

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OFCCP Acting Director Hodge Outlines Enforcement for Federal Contractors

Office of Federal Contract Compliance Programs (OFCCP) Acting Director Michele Hodge spoke on July 30, 2024, to a live audience at the 2024 National Industry Liaison Group (NILG) Conference in Orlando, Florida. As part of her…more

Affirmative Action, Department of Labor (DOL), Federal Contractors, OFCCP

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Federal Regulators Update Policy on Commercial Real Estate Loan Accommodations and Workouts

On June 30, 2023, the Federal Reserve Board, Treasury Department, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency and National Credit Union Administration (the agencies) published a final joint…more

Borrowers, Commercial Real Estate Market, Lenders, Loans

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Emerging Technologies Washington Update - August 2020 #3

This week: Agencies issue guidance on UAS detection and mitigation technology; White House calls for 30% boost to AI and quantum information science funding; California approves final CCPA regulations; DOE and DOD announce First…more

Artificial Intelligence, California Consumer Privacy Act (CCPA), Data Privacy, Department of Defense (DOD), Department of Energy (DOE)

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Interest in Psilocybin Continues to “Mushroom” for Potential Mental Health Treatment

Interest in the potential for psilocybin to be developed as a mental health treatment has continued to grow in recent months, due in part to recent activity by the U.S. Food and Drug Administration (FDA) and Drug Enforcement…more

Clinical Trials, Controlled Substances Act, Food and Drug Administration (FDA), Life Sciences, Mental Health

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Recent Opinion Highlights Role of Implied Covenant of Good Faith and Fair Dealing Under Delaware Law

The implied covenant of good faith and fair dealing is a notoriously misunderstood doctrine. It can be invoked much less often than most people think, and its application is highly state-specific. A recent ruling from the…more

Breach of Contract, Contract Disputes, Contract Terms, Covenant of Good Faith and Fair Dealing

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North Carolina General Assembly Week in Review - January 2024 #2

This week, members of the North Carolina General Assembly ramped up their interim committee meeting schedule, holding hearings of the House Select Committee on Education Reform, the Joint Legislative Commission on Governmental…more

General Assembly, Legislative Agendas, State and Local Government, State Budgets, State Legislatures

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Illinois 2021 Legislative Preview

The Illinois legislature hoped to build on its blockbuster 2019 with a comprehensive energy bill, changes to the tax structure for a Chicago casino to ensure the project’s viability, a worker classification bill for the gig…more

Coronavirus/COVID-19, Ethics, Lobbying, Redistricting, State and Local Government

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Delaware Court of Chancery Questions Enforceability of Con Ed Provisions

So-called Con Ed provisions emerged as M&A practitioners’ response to Consolidated Edison, Inc. v. Northeast Utilities, a 2005 case in which the 2nd U.S. Circuit Court of Appeals held that stockholder plaintiffs did not have…more

Acquisitions, Breach of Contract, Contract Termination, Merger Agreements, Mergers

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Director Fiduciary Duties After In re Nine West LBO Securities Litigation

Much ado about … not much? While not a major paradigm shift in the fiduciary duty standard applicable to directors considering corporate change-of-control transactions, the decision in In re Nine West LBO Securities…more

Board of Directors, Breach of Duty, Fiduciary Duty, Mergers, Securities Litigation

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Courts Adopt Different Approaches in Implementing the Due Process Protections Act

In a December 2020 article, we highlighted in this blog the amendment of Federal Rule of Criminal Procedure 5(f) in the new Due Process Protections Act (“DPPA” or “the Act”). The Act requires federal courts to enter a Brady…more

Brady Violation, Criminal Procedure, Disclosure Requirements, Due Process Protections Act, Judges

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Washington Healthcare Update - February 2021 #2

This week in Washington: Congress moves towards budget reconciliation…more

Centers for Medicare & Medicaid Services (CMS), Coronavirus/COVID-19, Department of Health and Human Services (HHS), Food and Drug Administration (FDA), GAO

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Merck-Settlement of $1.4 Billion Coverage Dispute Over NotPetya Cyberattack Places Renewed Spotlight on War Exclusions in 2024

Last week, Merck & Co. filed documents with the Supreme Court of New Jersey indicating that it reached a settlement with its “all risk” property insurers in a long-running coverage dispute involving over $1.4 billion in losses…more

Cyber Attacks, Cyber Insurance, Cybersecurity, Insurance Industry, Policy Exclusions

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Schemes that Deprive a Person of “Potentially Valuable Economic Information” – Punishable Under the Federal Wire Fraud Statute?

On Monday November 28, 2022, the U.S. Supreme Court heard oral arguments on Ciminelli v. United States. The Court will decide whether the “right-to-control” theory of fraud used by the Second Circuit is a valid basis for…more

Fraud, Oral Argument, Right to Control, Wire Fraud

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CFPB Establishes New Obligations for Covered Nondepository Institutions Subject to Judicial or Administrative Enforcement Orders

On June 3, 2024, the Consumer Financial Protection Bureau imposed a new set of regulatory obligations on nondepository consumer-financial companies that are subject to court or administrative orders enforcing federal or state…more

Banking Sector, Consumer Financial Protection Bureau (CFPB), Financial Institutions, Financial Services Industry, Reporting Requirements

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NLRB General Counsel Memo Announces Initiative to Treat College Athletes as Employees

On Sept. 29, 2021, the National Labor Relations Board (NLRB) general counsel issued General Counsel Memorandum GC 21-08, in which she announces that she believes certain college student-athletes are “employees” under the…more

College Athletes, Educational Institutions, NCAA, NLRA, NLRB

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Senior Living Alert: Enforcement Considerations for Private Equity Funds Investing in Senior Living

Revisions to the Health Over Wealth Act, a bill aimed at increasing transparency for private equity (PE) firms, introduced July 25, 2024, have removed assisted living facilities from its list of covered entities. However, the…more

Investment, Investors, Private Equity, Private Equity Firms, Private Equity Funds

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Texas Federal District Court Sets Aside FTC’s Non-Compete Rule Nationwide

A Texas federal district court held on Aug. 20, 2024, that the Federal Trade Commission’s rule banning most employer-employee non-compete agreements is unlawful. This decision — unlike earlier preliminary decisions — orders that…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

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CMS Again Settles Record Stark Self-Disclosures in 2023

The Centers for Medicare & Medicaid Services (CMS) recently released data on its 2023 settlements of voluntary self-disclosures related to past violations or potential violations of the physician self-referral law (the Stark…more

Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Physicians, Self-Referral, Stark Law

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Steps for Companies to Maximize Potential Insurance Recovery After the EPA’s Recent PFAS Designation

On April 19, 2024, the U.S. Environmental Protection Agency announced the designation of two per- and polyfluoroalkyl substances (PFAS)—perfluorooctanoic acid (PFOA) and perfluorooctanesulfonic acid (PFOS) and their salts and…more

CERCLA, Contamination, Environmental Protection Agency (EPA), Hazardous Substances, PFAS

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FERC Proposes Overhauling Electronic Quarterly Report Filing Process and Data Submission

On Oct. 19, 2023, the Federal Energy Regulatory Commission (FERC) issued a Notice of Proposed Rulemaking (NOPR) in Docket No. RM23-9-000 to modify filing processes for Electronic Quarterly Reports (EQRs) and revise and eliminate…more

Energy Sector, FERC, Filing Deadlines, Filing Requirements, Reporting Requirements

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Q1 2022 Update on LIBOR Transition Developments

Since passing the December 31, 2022 “no new LIBOR” line-in-the-sand drawn by regulators, the pace of new developments in LIBOR transition has slowed as various markets have adapted to pricing transactions at SOFR or some other…more

Banking Sector, Interest Rates, Libor, Secured Overnight Funding Rate (SOFR)

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Contaminants Compass: March 2024 Edition

“Contaminants Compass” is a monthly newsletter that provides updates, legal observations and actionable tips to navigate the evolving legal challenges of per- and polyfluoroalkyl substances (PFAS). This edition discusses a new…more

Contamination, Hazardous Substances, PFAS, Toxic Chemicals

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Florida Pre-Session Update: Governor’s Budget Recs, Special Session, Permitless Carry & More

Governor’s Budget Recommendations - On Wednesday, February 1, 2023, Gov. Ron DeSantis announced his recommendations for the 2023-24 fiscal year budget. His $114.8 billion spending plan, an increase of $3.8 billion over the…more

Florida, Governor DeSantis, State and Local Government, State Budgets, State Legislatures

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Multistate 2024 Education Legislative Update

LEGISLATORS ADDRESS A VARIETY OF EDUCATION ISSUES IN 2024 - As we approach completion of the first quarter of 2024, many states are gearing up for their legislative sessions while others have adjourned for the year. Education…more

Colleges, Educational Institutions, Public Schools, School Districts, State and Local Government

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Senior Living Alert – Church Plan Status: Employee Benefit Plan Administration for Senior Living Facilities Associated With Faith-Based Organizations

For employers that sponsor and administer employee benefit plans, various pieces of federal legislation create a multilayered regime of detailed regulatory requirements. Primarily, employer-sponsored benefit plans are governed…more

Benefit Plan Sponsors, Church Plans, Employee Benefits, Employee Retirement Income Security Act (ERISA), Internal Revenue Code (IRC)

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Notable Litigation – April 2023

Notable litigation filed during April 2023 includes: (1) SEC v. French, et al., (2) Gary Kennedy v. Ghap, LLC, et al., (3) Abanda v. OurBloc LLC, et al.,(4) Sunrise NPL, LLC v. Easy Financial, LLC, et al., and(5) Joseph v…more

Cryptocurrency, Enforcement Actions, Ponzi Scheme, Securities and Exchange Commission (SEC), Securities Exchange Act

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A New Frontier for ERISA Fee Suits: Group Health Plans

Best practices in the area of ERISA health and welfare plan governance are evolving. Concerned group health plan fiduciaries have been evaluating compliance processes while facing a set of rigorous fiduciary duties imposed by…more

Consolidated Appropriations Act (CAA), Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

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Recent Cases of Interest to Fiduciaries: November 2021

In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: Potter…more

Beneficiaries, Estate Planning, Fiduciary Duty, Irrevocable Trusts, Statute of Limitations

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Sports and Trade Secrets: Are Analytics a Secret in the NBA?

As the NBA season heats up, so does some interesting trade secret litigation among NBA teams. On Aug. 21, 2023, New York Knicks LLC sued a former Knicks employee named Ikechukwu Azotam and Maple Leaf Sports & Entertainment Ltd…more

Confidential Information, Intellectual Property Protection, Misappropriation, Trade Secrets

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Recent Cases of Interest to Fiduciaries: May 2023

In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following... …more

Beneficiaries, Breach of Duty, Estate Planning, Fiduciary Duty, Probate Code

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CFPB: For-Profit School Misrepresented ISAs, Made False Claims About Grads’ Employment Rates

On April 17, 2024, the Consumer Financial Protection Bureau entered an order against BloomTech Inc., which does business as the Bloom Institute of Technology, and its CEO, Austen Allred, for mischaracterizing BloomTech’s…more

Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), Financial Services Industry, Regulation Z

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What Owners and Financers Need to Know About Insurance and Putin’s Aircraft Seizure Law

On March 14, 2022, Russian President Vladimir Putin signed a law allowing the seizure of foreign-owned aircraft in Russia. Many aircraft in Russia are owned by international firms and leased for use in Russia. Such seizures are…more

Aircraft, Asset Seizure, Insurance Claims, Policy Exclusions, Policy Terms

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Emerging Manager Spotlight: Trey Ott of Matterhorn Capital

The interview below is part of a series from the McGuireWoods Emerging Manager Program featuring impressive emerging managers. The McGuireWoods Emerging Manager Program supports emerging managers throughout the most critical…more

Business Development, Career Development, Entrepreneurs, Professional Development

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Can Opposites Attract? Protecting a Company’s Intellectual Property Through Patents and Trade Secrets

While patents and trade secrets are viewed in part as opposites — patents require public disclosure, and trade secrets require confidentiality — seeking patent protection for aspects of a technology, while retaining trade secret…more

Intellectual Property Protection, Inventions, Patent Applications, Patents, Trademarks

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EEOC Issues New COVID-19 Vaccine Guidance for Employers

On May 28, 2021, the U.S. Equal Employment Opportunity Commission (EEOC) issued new COVID-19 vaccine guidance for employers. Although the updated FAQs do not address compliance with the Centers for Disease Control and…more

Americans with Disabilities Act (ADA), Coronavirus/COVID-19, Employer Liability Issues, Employment Policies, Equal Employment Opportunity Commission (EEOC)

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U.S. Supreme Court: Individual PAGA Claim Must Cruise Into Arbitration

In a significant ruling for California employers, the U.S. Supreme Court on June 15, 2022, held in Viking River Cruises, Inc. v. Moriana, No. 20-1573, that the Federal Arbitration Act (FAA) partially preempts California state…more

Arbitration, Arbitration Agreements, Federal Arbitration Act, Labor Law Violations, Preemption

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Ninth Circuit Reverses Award of Attorneys’ Fees More than 30 Times Greater than Amount Received by Class Members

In Lowery v. Rhapsody International, Inc., —F.4th—, 2023 WL 3857499 (June 7, 2023), the Ninth Circuit Court of Appeals recently reversed an award of attorneys’ fees to class counsel that was more than thirty times the amount the…more

Class Action, Class Members, Copyright, Copyright Infringement, Copyright Litigation

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Senior Living Alert – In the Thick of It: With Battles Raging in Statehouses, Where Do Senior Living Facilities Sit?

State legislatures nationwide are engaged in a flurry of activity as lawmakers, journalists, interest groups and citizens converge to address diverse policy issues. Debates and advocacy campaigns on topics such as social media…more

Elder Care, Health Care Providers, Long Term Care Facilities, Long-Term Care, Nursing Homes

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Data Centers Still Critical in 2022 for Infrastructure, Environmental and Policy Developments

As 2022 unfolds, data centers continue to be a critical component of forward progress for tech-related cloud services, 5G, construction, infrastructure, real estate, energy and other industries, while also trying to incorporate…more

Data Centers, Environmental Social & Governance (ESG), Infrastructure, Investment

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South Carolina 2021 Legislative Preview

The 124th session of the South Carolina General Assembly will convene on January 12, 2021, marking the first year of a two-year legislative session. Legislators in both the House and Senate began pre-filing legislation on…more

Abortion, Hate Crimes, Redistricting, State and Local Government, State Legislatures

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Virginia Courts Approve National Rates in Complex Corporate Bankruptcy Cases

As one of the nation’s premier bankruptcy venues, the Eastern District of Virginia (“EDVA”) has attracted some of the largest and most complex corporate bankruptcies. While companies file chapter 11 bankruptcies in the EDVA for…more

Bankruptcy Code, Bankruptcy Court, Chapter 11, Commercial Bankruptcy, Creditors

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Student-Athlete Landscape Continues to Evolve at National and International Levels

The framework surrounding student-athletes’ ability to profit from their name, image and likeness (NIL) continues to evolve. Within the last several weeks, the National Collegiate Athletic Association (NCAA) issued additional…more

College Athletes, Colleges, Educational Institutions, Name and Likeness, NCAA

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NLRB Dismisses Decertification Petition Because Union’s Disclaimer of Interest Effectively Mooted Employees’ Vote

Walgreens Boots Alliance d/b/a Walgreens Co. and Denise Bentley and United Food and Commercial Workers District Union Local One, case number 03-RD-321385, before the National Labor Relations Board Region 3…more

NLRB, UFCW, Unfair Labor Practices, Unions

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North Carolina 2021 Legislative Preview

The North Carolina General Assembly will convene January 13, 2021 for the start of the long session. Republicans will head into the new session maintaining their majorities in both chambers. Democrats will seek to continue to…more

Broadband, Department of Transportation (DOT), Governor Cooper, Medicaid, Redistricting

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Recent Opinion Highlights Role of Implied Covenant of Good Faith and Fair Dealing Under Delaware Law

The implied covenant of good faith and fair dealing is a notoriously misunderstood doctrine. It can be invoked much less often than most people think, and its application is highly state-specific. A recent ruling from the…more

Breach of Contract, Contract Disputes, Contract Terms, Covenant of Good Faith and Fair Dealing

See all updates »

Senate Follows House With Return of Earmarks

Earmarks are continuing to make a return to Congress after a moratorium lasting a decade. Following the House’s announcement that the committee will accept Member requests for Community Project Funding in appropriations bills…more

Appropriation, Disclosure Requirements, Internal Revenue Code (IRC), Tax Deductions

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Georgia Primary Election Update

Rematch in Georgia - On May 24, 2022, Georgia voters went to the polls to select their respective party nominees ahead of November’s general election. Voter participation this year was up significantly from the 2018 state…more

Election Results, Political Candidates, Primary Elections, State and Local Government, State Elections

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California Dreaming? New Discovery Rule May Be a Nightmare for Litigants

Soon, the cost of responding to document requests in California state court will significantly rise. Previously — and as with many other jurisdictions and in federal court — documents could be produced through one of two…more

Cal Code of Civil Procedure, Discovery, Document Productions

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Notable Litigation – March 2024

Notable litigation filed during March 2024 includes SEC v. Sanchez, et al. and four related actions captioned Dottore v. FC Real Estate Development Co., Dottore v. Kensington Pointe Ltd., Dottore v. Seibert Enterprises, Ltd.,…more

Disgorgement, Fraud, Investors, Ponzi Scheme, Securities and Exchange Commission (SEC)

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Thriving Amid Market Shifts: Takeaways From the Emerging Manager Conference

McGuireWoods recently hosted its annual Emerging Manager Conference at The Ritz-Carlton in Dallas, drawing around 1,000 emerging managers and limited partners (LPs) with diverse investment strategies. The two-day event is the…more

Fund Managers, Investment Funds, Investment Management, Investors

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I Can’t Get No Satisfaction … 2nd Circuit Reverses, Remands Revlon Decision

A three-judge panel of the 2nd U.S Circuit Court of Appeals on Sept. 8, 2022, reversed a decision of the U.S. District Court for the Southern District of New York regarding lenders who refused to return funds that were…more

Banking Sector, Citibank, Lenders, Loans, Revlon

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Contaminants Compass: August 2024 Edition

“Contaminants Compass” is a monthly newsletter that provides updates, legal observations and actionable tips to navigate the evolving legal challenges of per- and polyfluoroalkyl substances (PFAS). This edition discusses…more

Clean Water Act, Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances

See all updates »

SEC Adopts Final Rules on Climate-Related Disclosures

On March 6, 2024, the U.S. Securities and Exchange Commission (SEC) adopted much-anticipated final rules for climate-related disclosures (Final Rules). The Final Rules, adopted by a 3-2 vote along party lines, will significantly…more

Climate Change, Corporate Governance, Disclosure Requirements, Final Rules, Greenhouse Gas Emissions

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Contaminants Compass: August 2024 Edition

“Contaminants Compass” is a monthly newsletter that provides updates, legal observations and actionable tips to navigate the evolving legal challenges of per- and polyfluoroalkyl substances (PFAS). This edition discusses…more

Clean Water Act, Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances

See all updates »

Interesting — Texas Court Rules Unpaid Royalty Payments not Subject to Compound Interest

Are unpaid royalty payments for oil-and-gas leases subject to simple or compound interest? Simple, the Texas Supreme Court said in Samson Exploration, LLC v. Bordages on June 7, 2024…more

Energy Sector, Gas Royalties, Mineral Leases, Natural Gas, Oil & Gas

See all updates »

Consumer Financial Protection Bureau v. Townstone Financial, Inc.

On July 11, 2024, the U.S. Court of Appeals for the Seventh Circuit held in Consumer Financial Protection Bureau v. Townstone Financial, Inc. that the Equal Credit Opportunity Act (“ECOA”) protects prospective applicants and…more

Consumer Financial Products, Consumer Financial Protection Bureau (CFPB), ECOA, Fair Lending, Financial Services Industry

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SVB Receivership and Related Disruption: an Evolving Situation

On March 10, 2023, California regulators shut down Silicon Valley Bank (SVB) and the Federal Deposit Insurance Corporation was appointed its receiver. All FDIC-insured deposits were transferred to the newly created Deposit…more

Banking Sector, Banks, Deposit Accounts, Deposit Insurance, Depository Institutions

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North Carolina General Assembly Week in Review - January 2024 #2

This week, members of the North Carolina General Assembly ramped up their interim committee meeting schedule, holding hearings of the House Select Committee on Education Reform, the Joint Legislative Commission on Governmental…more

General Assembly, Legislative Agendas, State and Local Government, State Budgets, State Legislatures

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SEC Approves New PCAOB Standard

Recently, the SEC approved the PCAOB’s new auditor reporting standard, AS 3101, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion. Hailed as the most significant change to…more

Audit Reports, Auditors, Audits, Disclosure, Financial Statements

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State Education Policy Updates

California Education Policy Update - In his January budget proposal, Gov. Gavin Newsom called for spending $20,855 per pupil for K-12, accounting for all sources, which would be the highest spending ever as Newsom seeks $119…more

Colleges, Public Schools, School Districts, State and Local Government, Students

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(Some) Banking Agencies Repropose Dodd-Frank 956 Incentive Compensation Rules

Section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires that six agencies — the Federal Reserve System (FRS), Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance…more

Banking Sector, Banks, Dodd-Frank, FDIC, FHFA

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North Carolina General Assembly Week in Review - January 2024 #2

This week, members of the North Carolina General Assembly ramped up their interim committee meeting schedule, holding hearings of the House Select Committee on Education Reform, the Joint Legislative Commission on Governmental…more

General Assembly, Legislative Agendas, State and Local Government, State Budgets, State Legislatures

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Ounce of Prevention: Are All Locations Where You Dispense DMEPOS Individually Enrolled in Medicare?

Applicable Provider Types: Any individual or entity that receives Medicare reimbursement for selling or renting DMEPOS..…more

Centers for Medicare & Medicaid Services (CMS), DMEPOS, Health Care Providers, Medicare

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CMS 2025 Payment Proposals Could Impact Cardiology

The Centers for Medicare & Medicaid Services (CMS) recently published two proposed rules that could affect Medicare reimbursement for cardiology services. On July 22, 2024, CMS published the Calendar Year (CY) 2025 Hospital…more

Ambulatory Surgery Centers, Centers for Medicare & Medicaid Services (CMS), Health Care Providers, Medicare, Outpatient Prospective Payment System (OPPS)

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Illinois End of Session Update

Speaker Welch First-Term Highlights - Illinois elected a new Speaker of the House for the first time in almost 40 years after former House Speaker Michael Madigan was ousted from his leadership and later resigned at the…more

Affordable Housing, Cybersecurity, General Assembly, Omnibus Guidance, Popular

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Ounce of Prevention: Are All Locations Where You Dispense DMEPOS Individually Enrolled in Medicare?

Applicable Provider Types: Any individual or entity that receives Medicare reimbursement for selling or renting DMEPOS..…more

Centers for Medicare & Medicaid Services (CMS), DMEPOS, Health Care Providers, Medicare

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Washington Healthcare Update - July 2022 #2

This Week in Washington: Sen. Manchin Expresses Support for a More Limited Budget Reconciliation Package That Includes Health Provisions..…more

Centers for Medicare & Medicaid Services (CMS), Coronavirus/COVID-19, Department of Health and Human Services (HHS), Final Rules, Food and Drug Administration (FDA)

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SEC Speaks 2024: In Defense of the Enforcement Division’s Agenda

On April 2 and 3, 2024, U.S. Securities and Exchange Commission Chair, Gary Gensler, Division of Enforcement Director, Gurbir Grewal, and other senior SEC officials convened at the SEC Speaks conference held in Washington, DC to…more

Enforcement Actions, Investment Adviser, Investment Advisers Act of 1940, NDAA, Securities and Exchange Commission (SEC)

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Florida Bankruptcy Court Offers Potential Means to Stave Off Medicare Termination

A recent bankruptcy decision in Florida may have implications for troubled healthcare entities that seek to avoid Medicare termination and preserve reimbursements…more

Centers for Medicare & Medicaid Services (CMS), Commercial Bankruptcy, Health Care Providers, Healthcare, Medicare

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Interesting — Texas Court Rules Unpaid Royalty Payments not Subject to Compound Interest

Are unpaid royalty payments for oil-and-gas leases subject to simple or compound interest? Simple, the Texas Supreme Court said in Samson Exploration, LLC v. Bordages on June 7, 2024…more

Energy Sector, Gas Royalties, Mineral Leases, Natural Gas, Oil & Gas

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Pending U.S. Supreme Court Case Could Impact Judicial Deference to Agency Rulemaking

A petition for certiorari pending before the U.S. Supreme Court has the potential to narrow the application of Chevron deference to agency rulemaking. Under Chevron U.S.A. v. Natural Resources Defense Council, a 1984 Supreme…more

Certiorari, Chevron Deference, Chevron v NRDC, SCOTUS

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New Complaint – SEC v. Vladimir Okhotnikov, et al.

Securities and Exchange Commission v. Okhotnikov was filed in the United States District Court for the Northern District of Illinois on August 1, 2022, claiming violations of several provisions of the Securities Act and…more

Enforcement Actions, Investors, Ponzi Scheme, Securities Act of 1933, Securities and Exchange Commission (SEC)

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Emerging Technologies Washington Update - August 2020 #3

This week: Agencies issue guidance on UAS detection and mitigation technology; White House calls for 30% boost to AI and quantum information science funding; California approves final CCPA regulations; DOE and DOD announce First…more

Artificial Intelligence, California Consumer Privacy Act (CCPA), Data Privacy, Department of Defense (DOD), Department of Energy (DOE)

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DOJ Antitrust Division Announces Increased Scrutiny of Information Sharing

On Feb. 2, 2023, Doha Mekki, a senior leader of the Department of Justice’s Antitrust Division, announced wholesale changes to the Antitrust Division’s review of companies’ information-sharing practices. The Antitrust Division…more

Antitrust Division, Antitrust Provisions, Corporate Counsel, Department of Justice (DOJ), Information Sharing

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Q1 2022 Update on LIBOR Transition Developments

Since passing the December 31, 2022 “no new LIBOR” line-in-the-sand drawn by regulators, the pace of new developments in LIBOR transition has slowed as various markets have adapted to pricing transactions at SOFR or some other…more

Banking Sector, Interest Rates, Libor, Secured Overnight Funding Rate (SOFR)

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Update No. 9: Financial Services Regulators and SROs Continue to Address COVID-19 Impact

U.S. SECURITIES AND EXCHANGE COMMISSION (SEC) - SEC Staff No-Action Letter to FINRA: Allowing Technical or Temporary Relief by FINRA - On May 13, 2020, the Staff of the SEC’s Division of Trading and Markets issued a…more

Coronavirus/COVID-19, Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Municipal Securities Market, SIFMA

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Record Fines and Restrictive Rules: Agencies Take on the TCPA

Recent agency activity — from imposing hefty fines to issuing new rules — demonstrates the FCC and FTC’s continued focus on the Telephone Consumer Protection Act (TCPA) and Telemarketing Sales Rule (TSR), and underscores the…more

Do Not Call List, Robocalling, TCPA, Telecommunications, Telemarketing

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DOJ Withdraws ‘Out of Date’ Antitrust Enforcement Guidance Relating to Healthcare Providers

On Feb. 3, 2023, the Department of Justice Antitrust Division (DOJ) announced that it has withdrawn what it considers to be “outdated” joint Federal Trade Commission (FTC) and DOJ guidance, including the 1996 Statements of…more

Antitrust Division, Competition, Department of Justice (DOJ), Federal Trade Commission (FTC), Health Care Providers

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House Republicans Unveil Guidance on 2024 Congressionally Directed Spending

House - House Appropriations Chairwoman Kay Granger (R-TX) released fiscal year 2024 member request guidance. House Republicans announced as part of the guidance that congressionally directed spending, also known as earmarks,…more

Appropriation, Federal Funding, Funding, Project Finance

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The Foreign Extortion Prevention Act: Another Tool to Fight Foreign Corruption

In recent years, the Biden Administration has been vocal that combatting foreign public corruption is a key pillar of its national security efforts.orr Consistent with those policy goals, on December 22, 2023, Congress passed…more

Corruption, Extortion, FEPA, Foreign Corrupt Practices Act (FCPA)

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2023 Key Developments Impacting Nonprofits and Donors

The tax-exempt sector employs 29% of the American workforce and controls nearly $53 trillion in assets according to IRS statistics. Tax-exempt organizations also account for about 26% of the $1.5 trillion in federal tax…more

501(c)(3), Charitable Donations, IRS, Tax Exempt Entities, Tax Exemptions

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The More Things Change, the More They Stay the Same: AI Inventorship and Patent Litigation

Artificial intelligence (AI) cannot be the inventor or co-inventor on a patent but can be used as a tool. That is the gist of the U.S. Patent and Trademark Office’s (USPTO) recently released Inventorship Guidance for AI-Assisted…more

Artificial Intelligence, Intellectual Property Protection, Inventions, Inventors, Patent Applications

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Annual Report on the Food and Beverage Industry: Recent Trends and Outlook

The food and beverage industry has experienced significant change in recent years. New technological developments are enhancing the way food producers track food safety issues, food-labeling remains a hot-button issue, and new…more

Acquisitions, All Natural, Amazon, Blockchain, Food and Drug Administration (FDA)

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Less is More? DOJ Signals Shift to More Targeted Evidence Collection

For a corporation receiving a grand jury subpoena, the most difficult (and expensive) part of a U.S. Department of Justice (DOJ) inquiry is often sifting through corporate data to find relevant material. That is proving to be…more

Department of Justice (DOJ), Document Productions, Electronically Stored Information, Evidence, Subpoenas

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Update on FINRA’s Use of CAT Data – They Are “Just Scratching the Surface”

During FINRA’s 2023 Annual Conference held on May 16-18, 2023, several panels provided insight into how FINRA is currently using CAT data for market surveillance and how FINRA plans to use the data going forward to both develop…more

Broker-Dealer, Compliance, Consolidated Audit Trail, Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC)

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New York Department of Labor Publishes FAQs on Legalization of Recreational Marijuana

On Oct. 8, 2021, the New York State Department of Labor (NYSDOL) published a list of frequently asked questions and answers addressing common issues about the legalization of recreational marijuana and its effect on New York…more

Drug Testing, Employment Policies, Marijuana, New York, NYDOL

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SEC Adopts Significant Changes to Securities Exchange Act Rule 10b5-1 and Imposes Related Disclosures

On December 14, 2022, the U.S. Securities and Exchange Commission (SEC) unanimously adopted amendments to Rule 10b5-1 under the Securities Exchange Act of 1934, which adds new conditions to the use of the affirmative defense to…more

10b5-1 Plans, Amended Rules, Disclosure Requirements, Insider Trading, Regulation S-K

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FINRA Issues New Guidance Regarding Customer Communications Relating to Departing Registered Representatives

As recognized by new guidance from the Financial Industry Regulatory Authority (FINRA), the departure of a registered representative often prompts customer questions about the departing representative and the continued servicing…more

Financial Industry Regulatory Authority (FINRA), Financial Services Industry, Registered Representatives

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Treasury Approves New Municipal Liquidity Facility to Aid States, Counties and Cities

On April 9, 2020, U.S. Treasury Secretary Steven T. Mnuchin approved the establishment of a Municipal Liquidity Facility (MLF) aimed at helping the flow of credit to states, counties and cities impacted by the COVID-19 pandemic…more

Coronavirus/COVID-19, Federal Reserve, Special Purpose Vehicles

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Key Takeaways From the 2024 Healthcare Private Equity and Finance Conference

McGuireWoods recently held its 20th Annual Healthcare Private Equity and Finance Conference (HCPE Conference) in Chicago. The conference drew more than 1,000 professionals from private equity funds, senior and mezzanine lenders,…more

Acquisitions, Investment, Investors, Private Equity, Private Equity Firms

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Virginia 2023 Election Coverage - November 2023 #4

Election Analysis - The 2023 General Assembly Elections bring the largest single-year turnover in the General Assembly during modern times. All 140 seats in the Virginia legislature were on the ballot but a handful of…more

Election Results, Local Elections, Political Campaigns, Political Candidates, State and Local Government

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North Carolina Gov. Roy Cooper Approves Major Renewable Energy Reform Bill

Gov. Roy Cooper today signed House Bill 589, enacting legislation that significantly expands solar business opportunities in North Carolina…more

Energy Sector, Renewable Energy, Solar Energy, State and Local Government

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Florida Bankruptcy Court Offers Potential Means to Stave Off Medicare Termination

A recent bankruptcy decision in Florida may have implications for troubled healthcare entities that seek to avoid Medicare termination and preserve reimbursements…more

Centers for Medicare & Medicaid Services (CMS), Commercial Bankruptcy, Health Care Providers, Healthcare, Medicare

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Central Virginia Data Center Update

The growing demand for data center space in Virginia increasingly has led the industry to locations outside northern Virginia. As a result, many central Virginia jurisdictions recently revised their planning and zoning guidance…more

Data Centers, Local Ordinance, Urban Planning & Development, Zoning Laws

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Virginia Increases Earnings Threshold for Prohibition on Non-Competes for “Low Wage Employees”

Since July 1, 2020, Virginia has prohibited employers from entering into, enforcing or threatening to enforce non-compete agreements with “low wage employees.” The definition of “low wage employee” periodically changes because…more

Employer Liability Issues, Employment Contract, Low-Wage Workers, Non-Compete Agreements, Restrictive Covenants

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Supreme Court Holds That SEC Must Seek Civil Penalties in Federal Court

In SEC v. Jarkesy, No. 22-859, 603 U.S. __ (2024), the Supreme Court held that the Seventh Amendment prohibits the Securities and Exchange Commission (SEC or Commission) from seeking civil penalties in certain enforcement…more

Administrative Law Judge (ALJ), Jury Trial, SCOTUS, SEC v Jarkesy, Securities and Exchange Commission (SEC)

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Georgia Primary Election Update

Rematch in Georgia - On May 24, 2022, Georgia voters went to the polls to select their respective party nominees ahead of November’s general election. Voter participation this year was up significantly from the 2018 state…more

Election Results, Political Candidates, Primary Elections, State and Local Government, State Elections

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Georgia 2022 Midterm Election Review: Some surprises, some chalk, and the passing of a towering politico.

After stunning the nation in 2020 voting for President Joe Biden and electing two Democratic Senators, Georgia once again found itself in the center of the political universe for the 2022 midterms. Georgia cemented its position…more

Election Results, Political Campaigns, Political Candidates, State and Local Government, State Elections

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Agreement Remains Key to Using eDiscovery Technology to Control Costs

Increasingly, parties are accepting the use of technology as a method to control the costs of discovery for electronically stored information (ESI). Discovery rules often permit parties to stipulate procedures governing…more

Discovery, e-Discovery Professionals, Electronically Stored Information, Legal Technology

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U.S. Supreme Court Adopts Narrow Autodialer Definition in 9-0 Defense Victory

On April 1, 2021, the U.S. Supreme Court issued its long-awaited opinion in Facebook v. Duguid, which resolved a circuit split regarding the meaning of “automatic telephone dialing system” (autodialer or ATDS) under the…more

ATDS, Auto-Dialed Calls, Facebook, Facebook Inc v Duguid, Random or Sequential Number Generator

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In the Weeds: California Shuts Down Illegal Cannabis Operation, New York Bans Smoking in Public Parks

Newsworthy Highlights - California Shuts Down Illegal Cannabis Operation in Monterey County. Recently, officers with the California Department of Fish and Wildlife (CDFW) shut down an illegal cannabis and hemp operation where…more

Licensing Rules, Marijuana, Marijuana Cultivation, Marijuana Related Businesses, Medical Marijuana

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Fifth Circuit: Make-Whole Premiums Should Be Disallowed in Bankruptcy

The United States Court of Appeals for the Fifth Circuit issued a ruling on Oct. 14, 2022 regarding the treatment of make-whole premiums in bankruptcy. The court held that claims for payment of a make-whole premium are the…more

Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Debtors, Section 502

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Emerging Technologies Washington Update - August 2020 #3

This week: Agencies issue guidance on UAS detection and mitigation technology; White House calls for 30% boost to AI and quantum information science funding; California approves final CCPA regulations; DOE and DOD announce First…more

Artificial Intelligence, California Consumer Privacy Act (CCPA), Data Privacy, Department of Defense (DOD), Department of Energy (DOE)

See all updates »

Navigating Cybersecurity and Data Privacy Regulations in the Insurance Industry

For over 100 years, the National Association of Insurance Commissioners (NAIC) has been developing model legislation to encourage uniformity among states for the regulation of insurance products. The NAIC model laws and…more

Cybersecurity, Data Privacy, Data Protection, Data Security, Insurance Industry

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Uber’s Challenge to Non-Individual PAGA Standing Crashes at the California Supreme Court

In a significant blow to employment-related arbitration agreements, the California Supreme Court ruled in Adolph v. Uber Technologies, Inc. that an employee has standing to bring non-individual, representative California Private…more

Arbitration, Arbitration Agreements, CA Supreme Court, Corporate Counsel, Employment Litigation

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Federal Reserve Announces Expansion of Eligible Issuers for MLF Program

On June 3, 2020, the Federal Reserve Board announced an expansion in the number and type of Eligible Issuers authorized to use the Municipal Lending Facility (MLF) program. Eligible Issuers now include “Designated Cities,”…more

Bond Issuers, Federal Reserve, FRB

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SEC Issues Risk Alert on Reg BI Deficiencies Identified During Exams

On Jan. 30, 2023, the Securities and Exchange Commission’s Division of Examinations (Division) released a Risk Alert, “Observations from Broker-Dealer Examinations Related to Regulation Best Interest,” in which the Division…more

Broker-Dealer, Conflicts of Interest, Disclosure Requirements, Regulation Best Interest, Regulation BI

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FDA Proposes Standards Banning Flavored Cigars and Menthol Cigarettes

On April 28, 2022, the U.S. Food and Drug Administration (FDA) released two proposed product standards that would ban all characterizing flavors in cigars and menthol flavoring in cigarettes. These proposed rules build on…more

Comment Period, Food and Drug Administration (FDA), Tobacco, Tobacco Regulations

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Recent Cases of Interest to Fiduciaries January 2018

In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following: - Lynch…more

Beneficiaries, Breach of Duty, Estate Planning, Estate Tax, Fiduciary Duty

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Seventh Circuit Upholds Decision In Favor of Insured Party Seeking Coverage for False Claims Act Settlement

On May 3, 2023, the US Court of Appeals for the Seventh Circuit sided with the policyholder, resolving a large insurance coverage dispute relating to a $100 million settlement involving claims under the federal Anti-Kickback…more

Anti-Kickback Statute, False Claims Act (FCA), Health Care Providers, Healthcare Fraud

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South Carolina 2020 Legislative Session Preview

Education - Education reform will remain the focus of 2020 legislative session in South Carolina, after the Senate failed to push the House-passed reform package to the floor for debate in 2019…more

Abortion, Education Reform, Medical Marijuana, State and Local Government, Teachers

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European Competition Law Newsletter – September 2024

European Commission Provides Guidance on Foreign Subsidies Regulation - Under the EU Foreign Subsidies Regulation (FSR), the European Commission (EC) has the power to investigate financial contributions granted by non-EU…more

Competition, EU, European Commission, Foreign Subsidies, Mergers

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Highlights from the 2024 SIFMA Anti-Money Laundering and Financial Crimes Conference on the Corporate Transparency Act

On May 6, 2024, the Financial Crimes Enforcement Network (“FinCEN”) Director Andrea Gacki, Acting Chief of the Enforcement Division Steve Hsieh, Acting Associate Director of the Policy Division James Martinelli, and other key…more

Anti-Money Laundering, Beneficial Owner, Corporate Transparency Act, Financial Crimes, FinCEN

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U.S. Business Relief During COVID-19 (Part II): SBIC Debentures for Small Businesses

McGuireWoods is monitoring the evolving availability of government-sponsored emergency loan programs for U.S. businesses suffering losses from the COVID-19 pandemic. Potential sources include federal programs available from the…more

Coronavirus/COVID-19, Infectious Diseases, SBA, SBIC

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Technology Continues to Outflank Health Information Anonymization

A recent letter from researchers at the Mayo Clinic to the editor of The New England Journal of Medicine outlined a new challenge in de-identifying, or preserving the de-identified nature of, research and medical records. The…more

Data Privacy, Health Insurance Portability and Accountability Act (HIPAA), Mayo Clinic, Personally Identifiable Information, PHI

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Contaminants Compass: August 2024 Edition

“Contaminants Compass” is a monthly newsletter that provides updates, legal observations and actionable tips to navigate the evolving legal challenges of per- and polyfluoroalkyl substances (PFAS). This edition discusses…more

Clean Water Act, Contamination, Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances

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BPE Deal Tracker: Minority and Woman-Led Firm Announces Investment in Middle Market Private Credit Firm

Xponance Inc. announced on March 19, 2024, a successful investment in and commitment to The Copia Group LLC, led by the former president of Northern Trust Asset Management…more

Investment, Investors, Private Equity, Private Equity Firms, Private Equity Funds

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Key Takeaways From the 2024 Bisnow UK Office Series: The Renaissance Conference

On 21 March 2024, McGuireWoods London partner Callum Hassall moderated the third session of Bisnow’s UK Office Series: The Renaissance event, which focused on London’s office leasing landscape…more

Landlords, Leases, Rental Property, Tenants, UK

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New Due Process Protection Act Amends Criminal Rule 5, May Strengthen Defendants’ Brady Rights

A new law will require all federal judges to enter an order at the beginning of every criminal case advising prosecutors of their duties under Brady v. Maryland, 373 U.S. 83 (1963) to disclose exculpatory evidence to the…more

Brady Violation, Criminal Procedure, Disclosure Requirements, Due Process Protections Act

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Annual Report on the Food and Beverage Industry: Recent Trends and Outlook

The food and beverage industry has experienced significant change in recent years. New technological developments are enhancing the way food producers track food safety issues, food-labeling remains a hot-button issue, and new…more

Acquisitions, All Natural, Amazon, Blockchain, Food and Drug Administration (FDA)

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Inflation Reduction Act Extends and Modifies Tax Credits for Solar Projects

On Aug. 16, 2022, President Joe Biden signed into law the Inflation Reduction Act of 2022 (IRA), which includes new and revised tax incentives for clean energy projects. This alert provides a summary of the IRA impact on solar…more

Clean Energy, Energy Projects, Energy Tax Incentives, Inflation Reduction Act (IRA), Investment Tax Credits

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Texas 2022 Midterm Election Review

The midterm elections were held yesterday in Texas. There was a lot of media coverage regarding the increase in voter registrations this year, but in the end only 46% of registered voters participated in the election…more

Election Results, Political Campaigns, Political Candidates, Popular, State and Local Government

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Key Takeaways From McGuireWoods’ 2023 Independent Sponsor Conference

McGuireWoods recently hosted its annual Independent Sponsor Conference in Dallas, drawing more than 1,500 independent sponsors and capital providers from 47 states and the District of Columbia and eight countries. At the…more

Investors, Private Equity, Private Equity Firms, Private Equity Funds

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U.S. Supreme Court: Bankruptcy Code Abrogates Tribal Sovereign Immunity

On June 15, 2023, the U.S. Supreme Court ruled that the Bankruptcy Code barred an Indian tribe’s attempts to collect on a defaulted debt from a Chapter 13 debtor…more

Abrogation, Bankruptcy Code, Lac du Flambeau Band of Lake Superior Chippewa Indians v Coughlin, Native American Issues, SCOTUS

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Senior Living Alert – Church Plan Status: Employee Benefit Plan Administration for Senior Living Facilities Associated With Faith-Based Organizations

For employers that sponsor and administer employee benefit plans, various pieces of federal legislation create a multilayered regime of detailed regulatory requirements. Primarily, employer-sponsored benefit plans are governed…more

Benefit Plan Sponsors, Church Plans, Employee Benefits, Employee Retirement Income Security Act (ERISA), Internal Revenue Code (IRC)

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Incorporating Excusable Delays Into Firm Fixed-Price Subcontracts May Create Liability

In L3Harris Maritime Services, Inc f/k/a L-3 Unidyne, Inc. v. BAE Systems, Norfolk Ship Repair Inc., U.S. Magistrate Judge Robert Krask from the Norfolk Division of the Eastern District of Virginia recently held that, even in a…more

Contractors, Coronavirus/COVID-19, Delays, Fixed Price Contracts, Subcontractors

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North Carolina General Assembly Week in Review - January 2024 #2

This week, members of the North Carolina General Assembly ramped up their interim committee meeting schedule, holding hearings of the House Select Committee on Education Reform, the Joint Legislative Commission on Governmental…more

General Assembly, Legislative Agendas, State and Local Government, State Budgets, State Legislatures

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Federal Law Won’t Protect Your Organization from Bad User Access Control Practices

Yesterday, the Supreme Court resolved a circuit split on the scope of the Computer Fraud and Abuse Act of 1986 (CFAA) in a decision that emphasizes the importance of how organizations manage access to their systems. Employees…more

Computer Fraud and Abuse Act (CFAA), Databases, Police, SCOTUS, Unauthorized Access

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2nd Circuit: Secured Lenders Entitled to Market-Rate Interest in Cram-Down Plan

In October 2017, the 2nd U.S. Circuit Court of Appeals, in In re MPM Silicones (Momentive) LLC, held that a non-consenting class of creditors is entitled to receive post-confirmation interest at a market rate if an efficient…more

Bankruptcy Code, Bankruptcy Plans, Chapter 11, Chapter 13, Cramdown

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Fifth Circuit Continues Nationwide Preliminary Injunction Against “Almost Certainly Unlawful” Borrower Defense Rule

On April 4, 2024, the U.S. Court of Appeals for the Fifth Circuit issued its opinion in CCST v. U.S. Dept. of Education, reversing the order of the U.S. District Court for the Western District of Texas, and granting a…more

Borrower Defense Rule, Department of Education, Educational Institutions, Student Loans, Students

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The U.K. Economic Crime and Corporate Transparency Act’s New Responsibilities for Companies

On 26 October 2023, the Economic Crime and Corporate Transparency Act 2023 became law. The new U.K. law is designed to fight corruption, money laundering and fraud, has major implications for businesses and will engender major…more

Corporate Transparency Act, Financial Crimes, Fraud, Money Laundering, UK

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Appointing an Arbitrator: As Simple as It Sounds?

The High Court recently held that no complex contractual analysis is required to determine whether an arbitrator was validly appointed. Read on for analysis of the court’s decision in ARI v WXJ, which found that where an…more

Arbitration, Arbitrators, International Arbitration, UK

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Titanium Dioxide: The Next Big Chemical Compound Driving Class Action Litigation?

A recent lawsuit alleges that Skittles consumers “are at heightened risk of a host of health effects” because Skittles uses titanium dioxide (TiO2). TiO2 is considered an inert and safe material, and for decades has been used…more

Chemicals, Class Action, Food Safety

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Texas Expands Employee Sexual Harassment Protections Beyond Federal Title VII

Texas employment laws have historically tracked their federal counterparts and generally favored employers, but starting Sept. 1, 2021, amendments to the Texas Commission on Human Rights Act (“TCHRA”) expanded sexual harassment…more

Employer Liability Issues, Employment Policies, Sexual Harassment, Title VII

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Virginia Supreme Court: Arbitration Clauses in Trusts Are Not Enforceable Against Beneficiaries

In Boyle v. Anderson, No. 210382 (Va. April 14, 2022), the Supreme Court of Virginia addressed an emerging topic in trusts and estates: whether a settlor can require that trustees and beneficiaries submit any disputes to…more

Arbitration, Beneficiaries, Estate Planning, Fiduciary Duty, Trusts

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Ponzi Perspectives: 2023 Year-End Roundup

McGuireWoods’ Ponzi Litigation team launched its Ponzi Perspectives blog in early 2021. Since that time, we’ve posted detailed case alerts of Ponzi-related complaints filed throughout the country and posted key decisions that…more

Enforcement Actions, Fiduciary Duty, Fraud, Investors, Ponzi Scheme

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Major COVID-19 Provisions in Year-End Funding Bill

Summary - On December 21, 2020, Congress released and passed its long-awaited coronavirus relief package, which was part of a nearly 5,600 page 2021 government appropriations bill. The $900 billion COVID-19 stimulus is the…more

Borrowers, CARES Act, Coronavirus/COVID-19, Loan Forgiveness, Pandemic Unemployment Assistance (PUA)

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Financial Institutions and Bank Directors and Officers in the Crosshairs – Are Their Insurance Policies Really Primed and Ready?

With bank stability and the related stock market rout now dominating the headlines for the first time since the 2008 financial crisis, are financial institutions’ D&O and bankers’ professional liability / E&O (“BPL”) liability…more

Banking Sector, Banks, D&O Insurance, Financial Institutions

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High Court Says “Pure Omissions” on Public Disclosures Not Actionable Under Rule 10b-5(b)

For about 90 years, public companies have devoted significant time and resources toward complying in their public disclosures with Rule 10b-5, a regulation created under the Securities and Exchange Act of 1934 that prohibits…more

Macquarie Infrastructure Corp v Moab Partners LP, Omissions, Rule 10b-5, SCOTUS, Securities and Exchange Commission (SEC)

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SEC Adopts Cybersecurity Risk Management Strategy Governance Incident Disclosure Rules

On March 9, 2022, the U.S. Securities and Exchange Commission (SEC) released proposed rules regarding public companies’ reporting of (i) cybersecurity incidents, (ii) policies and procedures for identifying and managing…more

Cyber Incident Reporting, Cybersecurity, Disclosure Requirements, Popular, Risk Management

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Up-and-Coming Women in PE to Know: Mary Beth Brosnihan

The interview below is part of an ongoing effort by McGuireWoods to profile up-and-coming women leaders in private equity (PE). To recommend a rising star for a future interview, email Amber Walsh at awalsh@mcguirewoods.com or…more

Business Development, Career Development, Private Equity, Professional Development

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Ford Finds Key to Reversing $105 Million Award in Trade Secret Case

In May 2023, the U.S. District Court for the Eastern District of Michigan overturned a jury verdict of nearly $105 million in a trade secret case. The court found that, because the plaintiff failed to provide sufficient evidence…more

Ford Motor, Intellectual Property Protection, Misappropriation, Trade Secrets

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2024 State Attorney General Races: Where’s the Action?

The 2024 United States Attorney General elections, set for November 5, 2024, will determine the attorneys general of ten U.S. states. These elections coincide with the presidential election, Senate and House of Representatives…more

Political Campaigns, Political Candidates, State and Local Government, State Attorneys General, State Elections

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Date of Delivery, Not Sale: California Imposes New Requirement for Consumer Products Warranties

Starting July 1, 2023, an amendment to California’s Song-Beverly Consumer Warranty Act will prohibit warranties for consumer products sold in California from beginning their term on the date of sale. If an express warranty is…more

Contract Terms, Goods or Services, Manufacturers, Warranties

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Spring Has Sprung for Recent Reg NMS Reporting Changes

On March 6, the SEC released its long-anticipated adopting release amending Rule 605. Separately, in late February, FINRA issued Regulatory Notice 24-05 discussing new FINRA Rule 6151, which requires member firms to provide…more

Amended Rules, Broker-Dealer, Financial Industry Regulatory Authority (FINRA), Reporting Requirements, Securities and Exchange Commission (SEC)

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Little Engine (No. 1) That Could: Exxon’s Proxy Battle and SEC’s Focus on ESG Disclosures

In one of the most expensive proxy fights ever, activist hedge fund, Engine No. 1, succeeded on May 26, 2021, in claiming at least two of Exxon Mobil Corp.’s board seats. In December 2020, Engine No. 1 began pushing Exxon to…more

Corporate Governance, Disclosure Requirements, Environmental Social & Governance (ESG), Publicly-Traded Companies, Securities and Exchange Commission (SEC)

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En Banc 11th Circuit Joins Sister Circuits, Deeming One Text Message Enough for TCPA Standing

Once an outlier, the 11th U.S. Circuit Court of Appeals recently joined seven of its sister Circuit Courts in holding that receipt of a single, unwanted text message constitutes the concrete injury required for standing in class…more

Article III, Corporate Counsel, Injury-in-Fact, Standing, TCPA

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New Regulations Increase Risk of OFCCP Systemic Discrimination Allegations

On Aug. 4, 2023, the Office of Federal Contract Compliance Programs (OFCCP) promulgated a final rule that eliminated self-imposed regulatory standards for making allegations of systemic discrimination against federal contractors…more

Affirmative Action, Audits, Federal Contractors, OFCCP

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The U.K. Economic Crime and Corporate Transparency Act’s New Responsibilities for Companies

On 26 October 2023, the Economic Crime and Corporate Transparency Act 2023 became law. The new U.K. law is designed to fight corruption, money laundering and fraud, has major implications for businesses and will engender major…more

Corporate Transparency Act, Financial Crimes, Fraud, Money Laundering, UK

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Sports and Trade Secrets: Are Analytics a Secret in the NBA?

As the NBA season heats up, so does some interesting trade secret litigation among NBA teams. On Aug. 21, 2023, New York Knicks LLC sued a former Knicks employee named Ikechukwu Azotam and Maple Leaf Sports & Entertainment Ltd…more

Confidential Information, Intellectual Property Protection, Misappropriation, Trade Secrets

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High Court Says “Pure Omissions” on Public Disclosures Not Actionable Under Rule 10b-5(b)

For about 90 years, public companies have devoted significant time and resources toward complying in their public disclosures with Rule 10b-5, a regulation created under the Securities and Exchange Act of 1934 that prohibits…more

Macquarie Infrastructure Corp v Moab Partners LP, Omissions, Rule 10b-5, SCOTUS, Securities and Exchange Commission (SEC)

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Opportunity Financial’s Lawsuit Against California’s Financial-Services Regulator Signals Continued Fight Over “True Lender” Principles

Fintech lender Opportunity Financial (“OppFi”) and the Department of Financial Protection and Innovation (“DFPI”), California’s financial-services regulator, filed dueling claims as they battle over state efforts to enjoin the…more

Borrowers, Department of Financial Protection and Innovation (DFPI), OCC, True Lender

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Illinois and Hawaii Require Employers to Disclose Pay Scales in Job Postings

Illinois and Hawaii will join several states — including New York, California, Washington and Colorado — in requiring increased pay transparency in job postings. These changes will further affect how employers recruit and post…more

Employer Liability Issues, Posting Requirements, State Labor Laws, Wage and Hour

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Hurricane Irma – Commercial Property Damage and Business Interruption Insurance Checklist

Hurricane Irma was one of the most devastating storms in United States history, with sustained winds of over 190 miles per hour. Insurance industry experts have estimated the insured damages arising from this storm may reach $50…more

Business Interruption, Hurricane Irma, Insurance Claims, Insurance Industry, Natural Disasters

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Takeaways for Nonprofit Healthcare Systems From SEC Cybersecurity Disclosure Interpretations

According to the American Hospital Association, cyber criminals are becoming more organized and sophisticated. For example, in addition to attacks on the troves of patient data held by healthcare systems, cybercriminals now…more

American Hospital Association, Cybersecurity, Hospitals, Securities and Exchange Commission (SEC)

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Biden Administration Finalizes Three Wind Energy Areas off Mid-Atlantic Coast

On July 31, 2023, the Bureau of Ocean Energy Management (BOEM) announced three final wind energy areas (WEAs) off the shores of Delaware, Maryland and Virginia. The final WEAs have the potential to support 4-8 gigawatts of…more

Biden Administration, Energy Sector, Offshore Wind, Renewable Energy, Wind Power

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Key Takeaways From the McGuireWoods Independent Sponsor Conference

On Oct. 2-3, McGuireWoods hosted its second annual Independent Sponsor Conference in Dallas, attended by more than 600 independent sponsors and capital providers from more than 35 U.S. states and Canada…more

Investment, Investors, Private Equity, Private Equity Funds

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Decisions in Pelvic Mesh Suit Clarify West Virginia Products Liability Law

In Shears v. Ethicon, Inc., the U.S. Court of Appeals for the Fourth Circuit vacated a judgment entered in favor of Ethicon and its parent company Johnson & Johnson following a jury trial in a pelvic mesh products liability…more

Design Defects, Manufacturers, Product Defects, Strict Product Liability

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BPE Deal Tracker: Minority and Woman-Led Firm Announces Investment in Middle Market Private Credit Firm

Xponance Inc. announced on March 19, 2024, a successful investment in and commitment to The Copia Group LLC, led by the former president of Northern Trust Asset Management…more

Investment, Investors, Private Equity, Private Equity Firms, Private Equity Funds

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Up-and-Coming Women in PE to Know: Molly Williams Martin

The interview below is part of a yearlong effort by McGuireWoods to profile up-and-coming women leaders in private equity (PE). This profile series complements our existing Women Leaders in Private Equity profile series, which…more

Career Development, Private Equity, Professional Development

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Reputation Management Is Key in a Competitive Senior Living Marketplace

When a man’s family placed a hidden camera in his senior living residence, it came as a startling surprise to the provider. While the company has a policy against surreptitiously videotaping employees, management could not…more

Elder Abuse, Elder Care, Elder Issues, Health Care Providers, Long Term Care Facilities

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Recent Cases of Interest to Fiduciaries: May 2023

In the most recent installment of the McGuireWoods Fiduciary Advisory Services annual multipart series on recent fiduciary cases, developments in the law concerning various topics are examined through the following... …more

Beneficiaries, Breach of Duty, Estate Planning, Fiduciary Duty, Probate Code

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Texas Supreme Court Hears Oral Argument in Major Winter Storm Uri Case

In February 2021, winter storm Uri hit Texas, causing a sharp spike in electricity demand that could not be satisfied by available generation resources, resulting in statewide blackouts. Commercial, industrial and residential…more

Electricity, Energy Sector, Public Utilities Commission, Severe Weather, Texas

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Increased Tariffs Announced in Response to U.S. Trade Representative Review of Chinese Imports

On May 14, 2024, the Biden administration — following the conclusion of the U.S. trade representative’s (USTR’s) statutory review of Section 301 tariffs imposed on Chinese-origin goods in 2018 — announced prospective increases…more

Biden Administration, China, Imports, Section 301, Tariffs

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Producers May Subtract Gas Used to Power Post-Production Activities From “At-the-Well” Royalty Payments

In Carl v. Hilcorp Energy Co., the Texas Supreme Court—addressing certified questions from the Fifth Circuit—held that producers may subtract the volume of gas powering post-production activities from “at-the-well” royalty…more

Energy Sector, Mineral Leases, Oil & Gas, TX Supreme Court

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Key Takeaways From the 2024 Bisnow UK Office Series: The Renaissance Conference

On 21 March 2024, McGuireWoods London partner Callum Hassall moderated the third session of Bisnow’s UK Office Series: The Renaissance event, which focused on London’s office leasing landscape…more

Landlords, Leases, Rental Property, Tenants, UK

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Financial Challenges Facing English Football Clubs During COVID-19

With the football transfer window having closed on another round of multimillion-pound transfers, the perception continues that football is a sport awash with cash. However, as football plays on behind closed doors, one need not…more

Business Interruption, Coronavirus/COVID-19, Creditors, Directors, EBITDA

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HCPE Insights: Operational Integration

Successful integration is key in order to maintain value in healthcare investments, according to experts who spoke on a panel at the 20th Annual Healthcare and Life Sciences Private Equity & Finance Conference in Chicago on May…more

Investment, Investors, Private Equity, Private Equity Firms, Private Equity Funds

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Increased Immigration Worksite Enforcement Looming in 2018

The days of speculation may have ended. Immigration and Customs Enforcement’s (ICE) acting director recently made clear that Form I-9 audits and worksite enforcement actions will surge in the coming year…more

Audits, Employer Liability Issues, Form I-9, Hiring & Firing, Immigration and Customs Enforcement (ICE)

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Data Centers Still Critical in 2022 for Infrastructure, Environmental and Policy Developments

As 2022 unfolds, data centers continue to be a critical component of forward progress for tech-related cloud services, 5G, construction, infrastructure, real estate, energy and other industries, while also trying to incorporate…more

Data Centers, Environmental Social & Governance (ESG), Infrastructure, Investment

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GAO Releases Report on Mega Rule Regulatory Recommendations

On April 3, 2024, the U.S. Government Accountability Office (GAO) released a report titled “Gas Pipeline Safety: Better Data and Planning Would Improve Implementation of Regulatory Changes.” The report, GAO-24-106690, concerned…more

Department of Transportation (DOT), GAO, PHMSA, Pipelines

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Shifting Gears on Insurer Participation in Chapter 11 Proceedings: U.S. Supreme Court Rejects Longstanding “Insurance Neutrality” Doctrine

Last week’s Privilege Point described an opinion requiring a corporate party’s witness to disclose communications with his Latham & Watkins lawyers, because he confirmed with that firm his own “commercial understanding” about a…more

Asbestos, Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Debtors

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SEC Adopts Cybersecurity Risk Management Strategy Governance Incident Disclosure Rules

On March 9, 2022, the U.S. Securities and Exchange Commission (SEC) released proposed rules regarding public companies’ reporting of (i) cybersecurity incidents, (ii) policies and procedures for identifying and managing…more

Cyber Incident Reporting, Cybersecurity, Disclosure Requirements, Popular, Risk Management

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Shifting Gears on Insurer Participation in Chapter 11 Proceedings: U.S. Supreme Court Rejects Longstanding “Insurance Neutrality” Doctrine

Last week’s Privilege Point described an opinion requiring a corporate party’s witness to disclose communications with his Latham & Watkins lawyers, because he confirmed with that firm his own “commercial understanding” about a…more

Asbestos, Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Debtors

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Recent Opinion Highlights Role of Implied Covenant of Good Faith and Fair Dealing Under Delaware Law

The implied covenant of good faith and fair dealing is a notoriously misunderstood doctrine. It can be invoked much less often than most people think, and its application is highly state-specific. A recent ruling from the…more

Breach of Contract, Contract Disputes, Contract Terms, Covenant of Good Faith and Fair Dealing

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D.C. Circuit Rejects FERC Tolling Order Practice

On June 30, 2020, in Allegheny Defense Project v. FERC, the U.S. Court of Appeals for the District of Columbia Circuit ruled en banc that the Natural Gas Act (NGA) does not allow the Federal Energy Regulatory Commission (FERC)…more

Energy Sector, FERC, Natural Gas Act, Tolling

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Private Equity in Healthcare – An Updated Review of Selected Niche Investment Areas

Since mid-2022, the macro acquisition environment has faced the challenges of inflation and increasing interest rates, among a variety of other headwinds. Global deal flow is down from its 2021 peak. Yet, as this white paper…more

Acquisitions, Hospitals, Investment, Investors, Pharmaceutical Industry

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Georgia 2022 Midterm Election Review: Some surprises, some chalk, and the passing of a towering politico.

After stunning the nation in 2020 voting for President Joe Biden and electing two Democratic Senators, Georgia once again found itself in the center of the political universe for the 2022 midterms. Georgia cemented its position…more

Election Results, Political Campaigns, Political Candidates, State and Local Government, State Elections

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Fourth Circuit Vacates and Remands Class Certification Decision in Accordance with Supreme Court’s Directive to Consider Ramirez’s Effect on Issues of Standing in Mortgage Class Action

On October 28, 2022, the U.S. Court of Appeals for the Fourth Circuit in Alig v. Rocket Mortgage vacated and remanded for reconsideration a district court order certifying a class of mortgage borrowers, highlighting an important…more

Article III, Class Action, Class Certification, Remand, Standing

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Notable Litigation - November 2023

Notable litigation filed during November 2023 includes: (1) BB & MB WDF, LLC v. Seare, et al.; (2) Day v. Heppner, et al.; (3) Scura v. Heppner, et al.; and (4) Commodity Futures Trading Comm’n v. Young, et al…more

Aiding and Abetting, Fraud, Investors, Ponzi Scheme

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Texas Federal District Court Sets Aside FTC’s Non-Compete Rule Nationwide

A Texas federal district court held on Aug. 20, 2024, that the Federal Trade Commission’s rule banning most employer-employee non-compete agreements is unlawful. This decision — unlike earlier preliminary decisions — orders that…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Non-Compete Agreements, Restrictive Covenants

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Mid-Year Check In on LIBOR Transition Developments

The last few months have seen the pace of change accelerate in the business loan market’s transition away from LIBOR. Several alternatives to the replacement benchmark rate recommended by the Alternative Reference Rates…more

Alternative Reference Rates Committee (ARRC), Banking Sector, Benchmarks, Financial Conduct Authority (FCA), Interest Rates

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Opportunity Financial’s Lawsuit Against California’s Financial-Services Regulator Signals Continued Fight Over “True Lender” Principles

Fintech lender Opportunity Financial (“OppFi”) and the Department of Financial Protection and Innovation (“DFPI”), California’s financial-services regulator, filed dueling claims as they battle over state efforts to enjoin the…more

Borrowers, Department of Financial Protection and Innovation (DFPI), OCC, True Lender

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Hyper-Technical Interpretation: 9th Circuit Increases FCRA Reach

On Jan. 29, 2019, the 9th U.S. Circuit Court of Appeals, in a strikingly broad decision, raised the bar for employers’ compliance with the Fair Credit Reporting Act (FCRA). In Gilberg v. California Check Cashing Stores, LLC, the…more

Background Checks, Class Action, Corporate Counsel, Disclosure Requirements, Employer Liability Issues

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OIG Plans New Guidance for Medicare Advantage and Nursing Homes

In its General Compliance Program Guidance (GCPG) issued in November 2023, the Office of Inspector General of the U.S. Department of Health and Human Services (OIG) announced its intent to publish industry segment-specific…more

Health Care Providers, Medicare, Medicare Advantage, Nursing Homes, OIG

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North Carolina General Assembly Week in Review - January 2024 #2

This week, members of the North Carolina General Assembly ramped up their interim committee meeting schedule, holding hearings of the House Select Committee on Education Reform, the Joint Legislative Commission on Governmental…more

General Assembly, Legislative Agendas, State and Local Government, State Budgets, State Legislatures

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Senior Living Alert: Federal Tax Code’s Arbitrage Rules May Impact the Return on Certain Investments

Borrowing money to finance capital projects is always more challenging in a rising interest-rate environment. However, one silver lining is the ability to earn more on the investment of borrowed money during the construction…more

Borrowers, Financial Adviser, Interest Rates, Investment, Tax Exemptions

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PFAS Liability and Insurance: Potential Avenues to Mitigate Exposure for PFAS Risks through Insurance

Manufacturers face an ever increasing risk of liability exposure for pollution caused by polyfluoroalkyl substances, commonly known as “PFAS.” In early June this year, it was reported that 3M, as have other large chemical…more

Drinking Water, Environmental Protection Agency (EPA), Hazardous Substances, PFAS, Toxic Chemicals

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FTC Issues Final Rule Banning Most Non-Compete Agreements

On April 23, 2024, the Federal Trade Commission (FTC) voted 3-to-2 to issue a final rule that will ban most employer-employee non-compete agreements if it survives legal challenges from the U.S. Chamber of Commerce and other…more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Final Rules, Non-Compete Agreements

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Contaminants Compass: September 2024 Edition

“Contaminants Compass” is a monthly newsletter that provides updates, legal observations and actionable tips to navigate the evolving legal challenges of per- and polyfluoroalkyl substances (PFAS). This edition discusses how to…more

Chemical Data Reporting, Contaminated Properties, Contamination, Environmental Protection Agency (EPA), Groundwater