In an opinion with potentially far-reaching ramifications for pharmaceutical and medical device manufacturers, a split panel of the Second Circuit Court of Appeals held on December 3, 2012, that the First Amendment precludes Alfred Caronia's conviction for conspiring to introduce a misbranded drug into interstate commerce in violation of the Federal Food, Drug, and Cosmetic Act (FDCA) because his off-label promotion was constitutionally protected speech.
December 4, 2012
Los Angeles partner Jeffrey Dintzer and associate Matthew Wickersham are the authors of “Calif. Fracking Litigation May Bring Economic Harm” [PDF] published by Law360 at www.law360.com on December 4, 2012.
December 4, 2012
On November 27, 2012, Vice Chancellor Travis Laster of the Court of Chancery of the State of Delaware issued a bench ruling enjoining the enforcement of a "Don't Ask, Don't Waive" provision in a standstill agreement.
December 3, 2012
New York partner James Hallowell and associate Stephen Henrick are the authors of “Chancery Court Continues Close Scrutiny in Section 220 Actions” [PDF] published in the November 28, 2012 issue of the Delaware Business Court Insider.
November 28, 2012
The UK Financial Services Authority Publishes Consultation Paper on Implementation of AIFMD On November 14, 2012, the UK Financial Services Authority ("FSA") published the first part of its long-awaited consultation paper "CP 12/32 Implementation of the Alternative Investment Fund Managers Directive ("AIFMD") Part 1" ("CP 32").
November 23, 2012
After a period of intense political wrangling and lengthy delays, on 2 November 2012 the President of Myanmar signed into effect a new foreign investment law (the FIL) to replace the previous foreign investment law enacted in 1988. The new FIL comes at a time of momentous political and economic change within Myanmar that has seen the country move at an unprecedented pace in rejoining the international community after decades of isolation. Following is a summary of the key provisions of the FIL based on an unofficial translation made available to us, concluding with a brief assessment of the reception the law has received in the foreign investment community.Pertinent AuthoritiesThe FIL designates the Myanmar Investment Commission (the MIC) as the principal government organ for a
November 20, 2012
On November 14, 2012, the U.S. Department of Justice ("DOJ") and the U.S. Securities and Exchange Commission ("SEC") jointly issued A Resource Guide to the U.S.
November 19, 2012
Effective on January 1, 2013, the tax cuts enacted by the Bush Administration and extended in December 2010 will automatically end, and tax rates will revert to their pre-2001 levels.
November 19, 2012
On 13 November 2012, the Indonesian Constitutional Court held that the Upstream Oil and Gas Regulator in Indonesia, commonly known as BP MIGAS, was unconstitutional.
November 15, 2012
This is the latest update of significant developments relating to the array of qui tam, securities, fraud, and other lawsuits and investigations involving schools, especially private sector schools.
November 12, 2012
In Gatz Props., LLC v. Auriga Capital Corp. ("Auriga II"), the Delaware Supreme Court visited an issue that had seemingly been resolved by the Delaware Court of Chancery--whether the Limited Liability Company Act imposes fiduciary duties by default upon managers and controlling members of LLCs--and thrust the issue back into the realm of uncertainty.
November 12, 2012
We promised to keep you updated on the legal and regulatory developments which we identified as pending developments in our Alert "From the Shareholders' Spring to the Autumn of Activism .
November 6, 2012
With the arrival of fall, calendar-year companies are gearing up for what promises to be another busy proxy season, preparing for new rules that will impact their disclosures and governance practices, and planning their 2013 board and committee calendars.
November 2, 2012
Washington, DC of counsel Steven Tave and associate Jeremy Joseph are the authors of “With a Scalpel, Not a Sledgehammer: Resolving FDCA Investigations through Deferred Prosecution and Non-Prosecution Agreements” [PDF] published in the November/December issue of Update magazine. Republished with the permission of FDLI.
November 1, 2012
Washington, D.C. partner David Debold and New York associate Matthew Benjamin are the authors of “In the Wake of the Supreme Court’s Ruling, What’s Next for Southern Union?” [PDF] published in the October 31, 2012 issue of Bloomberg BNA’s Criminal Law Reporter.Reproduced with permission from The Criminal Law Reporter, 92 CrL 141, 10/31/2012.
October 31, 2012
The European Union has adopted a new regulation on short selling and certain aspects of credit default swaps (Regulation (EU) 236/2012) (the "Regulation").
October 30, 2012
The IRS recently released the inflation-adjusted limitations applicable to tax-qualified retirement plans for 2013. As in 2012, many of these limits are again increasing.
October 29, 2012
Recently, the Internal Revenue Service released two notices, Notice 2012-58 and Notice 2012-59, regarding the employer shared-responsibility penalties and the 90-day waiting period limitation of the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010 (the "Act").
October 25, 2012
The New York Stock Exchange ("NYSE") and NASDAQ Stock Market ("NASDAQ") released their proposed compensation committee and compensation adviser independence listing standards on September 25, 2012.
October 24, 2012
Los Angeles of counsel Brett Oberst and associate David Edsall are the authors of "Alternative Burdens May Come With Alternative Causes" [PDF] published by Law360 at www.law360.com on October 17, 2012.
October 17, 2012