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Sherief Morsy

Delaware Supreme Court Declares Federal Forum Provisions In Company Bylaws  Facially Valid Under Delaware Law

Posted by Sherief Morsy on 03/20/2020

On March 18, 2020, the Delaware Supreme Court issued a decision in Salzberg v. Sciabacucchi, No. 346, 2019, 2020 WL 1280785 (Del. Mar. 18, 2020) declaring as facially valid federal forum provisions ("FFP") in Delaware corporation bylaws requiring claims under the Securities Act of 1933 ("Securities Act") to be brought in federal court. Under ...

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Katherine M. Lenahan

The U.S. Securities and Exchange Commission Shares Observations For Combating Cybersecurity Threats

Posted by Katherine M. Lenahan on 03/20/2020

Recently, the U.S. Securities and Exchange Commission's ("SEC") Office of Compliance Inspections and Examinations ("OCIE") shared insights on cybersecurity risks that it gathered "[t]hrough thousands of examinations of broker-dealers, investment advisers, clearing agencies, national securities exchanges and other SEC registrants[.]" These ...

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Alex B. Heller

Cybercriminals Are Using COVID-19 to Spread Malware and Steal Information

Posted by Alex B. Heller on 03/20/2020

Cybercriminals are using the COVID-19 pandemic to spread malware onto unsuspecting victims' PCs. This malware steals information and sometimes downloads additional malware onto the victim's PC. These attacks have been ongoing for months around the world with the United States now very much in the crosshairs of the cybercriminals. Cybercriminals ...

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Maxwell Michael

Delaware Supreme Court Allows Delaware Corporations to Require Certain Federal Securities Claims to be Filed in Federal Court

Posted by Maxwell Michael on 03/19/2020

On March 18, 2020, the Delaware Supreme Court reversed a Chancery Court decision that had ruled forum selection provisions in Delaware corporate charters that required securities fraud claims under the Securities Act of 1933 ("Securities Act") to be filed only in federal courts are invalid and unenforceable. In reversing the lower court's ...

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Christopher M. Lash

Federal Government To Provide Funds To Agencies Through Coronavirus Bill for Cybersecurity

Posted by Christopher M. Lash on 03/19/2020

As the Coronavirus ("COVID-19") tightens its grip on the United States, workers and families alike have been relegated to their homes. This temporary "shelter-in-place" has caused numerous employees to telecommute to work and access their secure work networks from their personal WIFI systems, potentially exposing their employer's databases. ...

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Joshua Nassir

CLASS CERT. WIN IN SUGAR FALSE AD SUIT SIGNALS NEW TREND

Posted by Joshua Nassir on 03/19/2020

On March 9, 2020, Judge William H. Orrick of the U.S. District Court for the Northern District of California granted class certification in Krommenhock v. Post Foods, a false advertising suit alleging that Post Foods misbranded a variety of their cereal products as healthy (e.g., representing the product as "Nutritious" on the front label) ...

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Alex Hartzband

New Jersey Severance Law A Potential Bellwether for Similar Legislation in Other States

Posted by Alex Hartzband on 03/02/2020

Governor Phil Murphy of New Jersey recently signed into law an amendment to the NJ WARN Act (the "Act"), which increases the protections afforded to New Jersey employees who face sudden job loss. The amendment, which will take effect on July 19, 2020, expands the Act's coverage to encompass part-time employees and new hires, in addition requiring ...

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James M. Wilson, Jr.

SEC Proposes Amendments to Financial Disclosure Requirements in Regulation S-K

Posted by James M. Wilson, Jr. on 02/27/2020

On January 30, 2020, the Securities and Exchange Commission ("SEC") released newly proposed amendments to modernize, simplify, and enhance certain financial disclosure requirements in Regulation S-K by reducing duplicative disclosures and enhancing Management's Discussion & Analysis of Financial Condition and Results of Operation ("MD&A") ...

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Bradley J. Demuth

Allergan Settles Restasis Antitrust Claims for $51.2 Million

Posted by Bradley J. Demuth on 02/27/2020

On February 25, 2020, a class of direct purchasers of brand Restasis (cyclosporine) eye drops moved in the United States District Court for the Eastern District of New York (Gershon, J.) for an order preliminary approving a $51 million settlement reached with Allergan over allegations that Allergan deployed a multi-faceted scheme to delay ...

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Dillon Hagius

Senator Gillibrand Proposes New Data Protection Agency

Posted by Dillon Hagius on 02/25/2020

Kristen Gillibrand, a US Senator from New York, has proposed the creation of the Data Protection Agency ("DPA")—a new federal agency tasked with protecting the data of American consumers. Gillibrand explains that the goals of the agency would be threefold: to (1) give Americans control and protection over their own data by creating and enforcing ...

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