SEC issues Climate-Related Disclosure Proposal
On March 21, 2022, the U.S. Securities and Exchange Commission issued numerous rule changes imposing new climate-related disclosure requirements on public companies. The disclosures would apply to registration statements as well as periodic reports and inform investors about climate-related risks that are reasonably likely to have a material ...
GREENWASHING: THE ISSUE AND HOW TO FIX IT
Greenwashing is a marketing ploy where companies convey false or misleading information regarding how their products and services are more environmentally friendly than they actually are.[1] While this tactic is not a novel development, an uptick in greenwashing can be attributed to consumers' increasing awareness of environmental issues, ...
FTC Alleges TurboTax Is Deceiving Consumers About Its Services Being Free
On March 28, 2022, the Federal Trade Commission ("FTC") filed a complaint requesting a temporary restraining order and preliminary injunction against TurboTax, the popular online tax preparation company. Specifically, the FTC alleges that TurboTax markets its services as being free, when in actuality, it is only free for some consumers. The ...
Worker’s Compensation Board to Issue New Medical Treatment Guidelines, May 2022
In December 2010 the Workers' Compensation Board issued the Medical Treatment Guidelines as a set of treatment guidelines with separate guidelines that cover the Neck, Back, Shoulder, Knee, Carpal Tunnel, and Non-Acute/Chronic Pain. The Board announced that eleven (11) new medical guidelines will become effective in May 2022. The new treatment ...
Reigning in Corporate Privilege: Unjustifiable Claims of Privilege Could Result in Blanket Waiver, Or Worse
It is no secret that in-house lawyers are often included in communications that have nothing to do with seeking legal advice. In-house lawyers often wear "two hats," providing legal advice when necessary and business advice at other times. Importantly, attorney-client privilege only attaches when a communication deals with the former. Yet, ...
South Korean Telecommunications Giant KT Corp. Agrees to Pay Over $6.3 Million to the Securities and Exchange Commission to Settle Charges under the Foreign Corrupt Practices Act
A recent Foreign Corrupt Practices Act ("FCPA") enforcement action taken by the SEC against a South Korean company demonstrates the importance of having sufficient internal controls within a company to prevent bribery schemes from taking root and being executed. Without such controls, a company can have rampant bribery that goes unchecked ...
President Biden Orders Studies Of Cryptocurrency Risks, Taking Step Toward U.S. Regulation Of Digital Assets
In a move that would have seemed like science-fiction just a few years ago, President Biden issued an Executive Order titled "Ensuring Responsible Development of Digital Assets" on March 9, 2022. The order calls for several federal agencies to study the risks and opportunities associated with cryptocurrencies and a potential U.S. digital dollar, ...
Judge Approves Settlements to End RICO Suit Over Inflated Drug Prices
On February 22, 2022, a federal judge adopted a special master's report approving two settlements totaling over $23 million to end a proposed class action alleging that drugmaker Valeant Pharmaceuticals International Inc. and its executives violated the Racketeer Influenced and Corrupt Organizations Act with a scheme in which Valeant secretly ...
Will Supreme Court Nominee Ketanji Brown Jackson Be A Friend or Foe to Employee Rights?
When President Joe Biden recently announced his nomination of Judge Kentaji Brown Jackson to the U.S. Supreme Court, he made history: Jackson, who currently serves on the D.C. Circuit Court of Appeals, would be the first Black, female Justice in the Supreme Court's history. If confirmed, Jackson will replace the recently-retired Justice Stephen ...
SEC investigates Tesla following Musk’s problematic Tweets
After Tesla Inc. CEO Elon Musk proposed selling 10% of his Tesla equity in a poll on Twitter, and causing the company's share price to plummet, the U.S. Securities and Exchange Commission subpoenaed the company, beginning an investigation. The investigation was triggered because that tweet may have violated a 2018 settlement agreement Tesla ...