Yesterday, New York, New Jersey, Connecticut, and Maryland filed a complaint against the U.S. Treasury Department and others, seeking to invalidate the newly-enacted cap on the deduction for state and local taxes (SALT) on a filer’s federal income tax return.  Prior to the 2017 changes to the tax law, all or a substantial portion of SALT could be deducted from a federal tax return.  View Full Post
Despite a political agenda packed with important issues like tariffs, immigration and a Supreme Court nomination, there have been a number of recent federal and state legislative developments relating to public company corporate governance topics that are of interest.  In particular, the Senate Banking Committee has recently considered bills relating to the role of proxy advisory firms and disclosure of cybersecurity experience at the board level; there have been calls by lawmakers for regulation of executive sales following announcement of stock buybacks; the Senate Committee on Appropriations is proposing to direct the SEC to report on the decline in public companies; a bill implementing gender quotas on boards progressed through the California State Senate; and Delaware adopted a voluntary sustainability certification and reporting regime. View Full Post
In Lester v. O’Rourke, the United States District Court for the North District of Illinois held that Plaintiff is entitled to trial on his Title VII retaliation claim after he signed a Last Chance Agreement (“LCA”) that settled pending Title VII claims and also waived claims that might be asserted if the employer disciplined or terminated him. View Full Post
Through a newly published foreign investment negative list, the Chinese government is offering incrementally greater market access to foreign investors in China. The 2018 Special Administrative Measures on Access to Foreign Investment (“2018 Foreign Investment Negative List” or “2018 FI Negative list”), issued by the Ministry of Commerce and the National Development and Reform Commission (“NDRC”) will replace the list of restrictions and prohibitions in the 2017 foreign investment negative list, which was part of the broader 2017 Catalogue for Guiding Foreign Investment. View Full Post
The European Union’s General Data Protection Regulation (GDPR) took effect on May 25, 2018 and has necessitated major compliance efforts by corporations doing business within the EU or (in most cases) processing the personal data of EU employees or customers. However, the GDPR’s effect on corporate internal investigations – both within the EU and abroad – has received much less attention, yet requires considerable planning to avoid problems down the road. View Full Post
Last Tuesday, U.S. Trade Representative (and Trump appointee) Robert Lighthizer released a statement explaining that his office would seek to impose a second round of tariffs on Chinese imports, this time 10% tariffs on an additional $200B in imports. The first round of tariffs, which went into effect on Friday, July 6, imposed tariffs on $34B in imports, and was quickly matched by China’s imposition of tariffs on $34B in US exports to China. View Full Post
In May 2013, professional golfer Vijay Singh (“Singh”) brought suit against PGA Tour, an organizer of the leading men’s professional golf tours and events in North America, in Vijay Singh v. PGA Tour, Inc. PGA Tour enacted an Anti-Doping Program, which prohibits golfers from using certain substances. View Full Post
A recent Virginia Supreme Court case underscores the hurdles government subcontractors may face when they seek to enforce common teaming agreement terms. CGI Fed’l Inc. v. FCi Federal, Inc., No. 170617 (Va. June 7, 2018). This case of the “disappearing workshare” also illustrates that strategic choices made during teaming agreement negotiations and in litigation may dictate whether the subcontractor has any recourse against the prime contractor. View Full Post
It is a fact of life in French employer-employee relations that employees have no hesitation in bringing actions against their employer, in particular following termination of an employment, and that litigation is therefore not just a virtual weapon. Not only do employees sue their employer but, where the employer is a part of a group of companies, they have sought to impose liability on the group parent company in such employment litigation where they consider that the parent company was too involved in the management and decisions of its French subsidiary and that such involvement had proven detrimental to the French entity. View Full Post