Client Alert - Gibson Dunn

Client Alert

Private Equity Firm Relinquishes Board Rights, Dissolves Joint Venture After FTC Raises Antitrust Concerns

On August 16, 2023, the Federal Trade Commission announced the resolution of an antitrust investigation into the proposed acquisition by EQT Corporation of THQ Appalachia I, LLC and THQ-XcL Holdings I, LLC, two companies backed by equity commitments from funds managed by Quantum Energy Partners.

August 18, 2023

Tech Outbound Investment Is Target of National Security Scrutiny

Washington, D.C. partner Stephenie Gosnell Handler, of counsel Amanda Neely and associate Chris Mullen are the authors of "Tech Outbound Investment Is Target of National Security Scrutiny" published by Bloomberg Law on August 14, 2023. 

August 18, 2023

Second Circuit Decertifies Investor Class in Long-Running Class Certification Dispute

The Second Circuit decertified the class in Arkansas Teacher Retirement System v. Goldman Sachs Group, Inc., concluding that the Defendants rebutted the presumption of reliance with evidence that the generic alleged misstatements had not impacted the company’s stock price.

August 14, 2023

With Biden Executive Order, a U.S. Outbound Investment Control Regime Takes an Important Step Forward – Focused on China, but Significant Steps Remain Before Implementation

On August 9, 2023, the Biden Administration issued its long-awaited Executive Order outlining controls on outbound U.S. investments in certain Chinese entities, although without imposing any immediate new legal obligations or restrictions.

August 14, 2023

Hong Kong SFC Places Key Reforms to SFO Enforcement Provisions on Hold Following Industry Feedback

On August 8, 2023, Hong Kong’s Securities and Futures Commission published its consultation conclusions on proposed amendments to enforcement-related provisions of the Securities and Futures Ordinance.

August 11, 2023

The Impact of FinCEN’s Beneficial Ownership Regulation on Investment Funds

Our lawyers discuss the impact of the Financial Crimes Enforcement Network (FinCEN) beneficial ownership regulation on investment funds.

August 10, 2023

Gibson Dunn Environmental, Social and Governance Update (July 2023)

Our latest update on Environmental, Social and Governance (ESG) developments around the world.

August 10, 2023

CFIUS Annual Report for CY 2022: Top Takeaways

Our lawyers discuss the top takeaways from the Committee on Foreign Investment in the United States' annual report for 2022.

August 9, 2023

The Streamlined Approach to Complying with the Suitability Obligations When Dealing with Sophisticated Professional Investors

Our lawyers review the expectations of the Securities and Futures Commission and the Hong Kong Monetary Authority regarding allowing a proportionate and risk-based streamlined approach to complying with the suitability obligations when dealing with sophisticated professional investors.

August 8, 2023

Federal Circuit Update (July 2023)

Our Federal Circuit Update summarizes the current status of several petitions pending before the U.S. Supreme Court, the report and recommendation from the ongoing investigation by the Judicial Council of the Federal Circuit, and a number of recent Federal Circuit decisions.

August 7, 2023

2023 Mid-Year Securities Enforcement Update

The Securities and Exchange Commission’s Division of Enforcement is continuing to maintain its aggressive, heightened enforcement agenda.

August 7, 2023

Federal Banking Agencies Issue Basel III Endgame Package of Reforms

On July 27, 2023, the federal banking agencies jointly issued the long-expected notice of proposed rulemaking that would replace the federal banking agencies’ risk-based capital framework for large banking organizations with a new framework—commonly referred to as the Basel III endgame reforms—that would implement international capital standards issued by the Basel Committee on Banking Supervision.

August 3, 2023

New York Department of Financial Services Proposes Updated Second Amendment to Cybersecurity Regulation

On June 28, 2023, the New York Department of Financial Services published a Revised Proposed Second Amendment to its Part 500 Cybersecurity Rules.

August 3, 2023

European Court of Justice Strengthens the European Commission’s Hand in Merger Control

In a recent landmark judgment, the EU’s Court of Justice has sided with the European Commission on how the EU merger control rules should be interpreted and applied.

August 2, 2023

Delaware Chancellor Raises the Standard for Pricing Mootness Fees for Supplemental Disclosures

In a precedential decision on July 6, 2023, the Delaware Court of Chancery lowered stockholder-plaintiffs’ incentives to pursue meritless deal litigation by raising the standard that supplemental disclosures must meet to justify an award of attorneys’ fees from “helpful” to “material.”

August 2, 2023

Second Quarter 2023 Update on Class Actions

This update provides an overview of key class action-related cases during the second quarter of 2023.

August 2, 2023

UK Supreme Court Rules That Many Litigation Funding Agreements Are Unenforceable in England & Wales

In a greatly anticipated judgment of the UK’s Supreme Court, a 4-1 majority has ruled that litigation funding agreements, under which the funder’s remuneration is calculated by reference to a share of the damages ultimately recovered, fall within the statutory definition of damages-based agreements.

August 2, 2023

2023 Mid-Year False Claims Act Update

Gibson Dunn lawyers summarize recent False Claims Acts enforcement activity, then provide an overview of notable legislative and policy developments at the federal and state levels, and finally analyze significant court decisions from the first half of the year.

August 2, 2023

California Supreme Court Holds Private Universities Do Not Need To Permit Cross Examination Of Witnesses In Administrative Disciplinary Proceedings

The California Supreme Court has held that private universities do not need to provide students accused of misconduct with the right to cross examine accusers and other witnesses at live hearings during administrative disciplinary proceedings.

August 1, 2023

EU Strengthens Cross-Border Access to E-Evidence in Criminal Proceedings

The European Union is strengthening cross-border access to electronic evidence in criminal proceedings.

August 1, 2023