Mayer Brown

On October 31, 2018, the Securities and Exchange Commission (the “SEC”) adopted new property disclosure requirements for mining company registrants. The new rules, codified in Subpart 1300 of Regulation S-K, aim to replace the SEC’s thirty-year-old Industry Guide 7 by providing investors with a more comprehensive disclosure of a public company’s mining properties. Changes include: closer alignment with the Committee for Reserves International Reporting Standards (“CRIRSCO”), disclosure of mineral resources using technical report summary, disclosure…
On May 20, 2019, the Supreme Court decided Mission Product Holdings, Inc. v. Tempnology, LLC, No. 17-1657.  In an 8-1 decision, and in a majority opinion authored by Justice Kagan, the Court held that  the debtor-licensor’s rejection of a trademark license under Section 365 of the Bankruptcy Code “has the same effect as a breach outside bankruptcy” and, as such,  the debtor, through such a rejection, could not rescind the non-debtor’s licensee’s right to continue…
The SEC announced an upcoming roundtable (date and details to come) that will focus on the causes of short-termism, including the role of quarterly disclosures.  At the end of 2018, the SEC had published a request for comment regarding the timing of earnings releases and quarterly reports by public companies.  The statement regarding the roundtable identifies potential topics for discussion, including the following: The role, if any, that short-termism plays in the declining number of…
Last Thursday, President Trump unveiled an immigration plan that prioritizes skilled workers entering the United States and introduces a new “Build America” visa based on a points-based system.  Law360 spoke to Mayer Brown’s Elizabeth Espin Stern and Paul Virtue about the potential impact of the plan, including whether raising the bar for what constitutes a skilled worker might reduce the overall number of skilled workers admitted into the United States. Read the article here.
President Trump unveiled his plan to “transform” the US immigration system, during a speech given at the White House on May 16, 2019. He emphasized two goals for his plan: “First, it stops illegal immigration and fully secures the border.  And, second, it establishes a new legal immigration system that protects American wages, promotes American values, and attracts the best and brightest from all around the world.” In his remarks, he addressed legal immigration, including…
A recent research piece published by UBS Financial Services discusses the significant variations in IPO winners and losers.  The report notes that after five years about 60% of all IPOs had negative returns.  Variation in long-term performance appears to be correlated with specific IPO characteristics.  Companies with revenues in excess of $1 billion and those backed by growth capital performed better over a three-year period than smaller and venture-backed companies. First-day IPO returns are not…
Mayer Brown’s DC-based litigation team secured a victory when The Middle District of North Carolina issued a nationwide injunction barring the government from applying a 2018 policy memorandum released by the US Citizenship and Immigration Services, which purported to fundamentally alter how “unlawful presence” is calculated for the more than a million people present in the US on F, J, and M visas. This includes virtually all of the nation’s international students as well as…
A partnership (or LLC) can go public in a highly tax-efficient manner by using an “Up-C” structure.  An Up-C structure is composed of two entities: (1) a parent company, a C corporation (“PubCo”) which will be organized as a holding company, and (2) PubCo’s subsidiary, which is the partnership or LLC.  The Up-C structure makes it possible for the partnership/LLC to undertake an IPO while maintaining its partnership status, principal assets and operating business.  It…
What’s New? The latest episode of Mayer Brown’s UK Employment Law podcast is now available for streaming and download. To celebrate the success of our long running podcast, we have released the 150th episode with a few changes and availability on a wider variety of platforms such as: Google Podcast Google Play Feedburner iTunes PlayerFM Spotify Yahoo! YouTube Subscribe now and tune in regularly to hear Nick discuss the latest developments in UK Employment law…