Client Alert - Gibson Dunn

Client Alert

Supreme Court Limits Scope Of Sarbanes-Oxley’s Prohibition On Obstructing Official Proceedings

The Supreme Court held 6-3 that Section 1512(c) of the Sarbanes-Oxley Act—which prohibits obstructing official proceedings—is limited to acts that impair the availability or integrity of evidence in an official proceeding.

June 28, 2024

Environmental Groups Challenge Louisiana’s Primacy Over Class VI Wells

The groups are seeking a total reversal of the EPA’s decision to grant Louisiana primacy over Class VI wells.

June 28, 2024

Supreme Court Holds The Seventh Amendment Entitles A Defendant To A Jury Trial When The SEC Seeks Civil Penalties For Securities Fraud

The Supreme Court held 6-3 that the Seventh Amendment to the United States Constitution requires the SEC to sue in federal court, not in the agency’s in-house court, when the SEC seeks civil penalties for fraud.

June 27, 2024

Supreme Court Grants Stay Suspending EPA’s “Good Neighbor” Emissions-Regulation Plan

In a case that further highlights the significance of the Court’s emergency docket for challenging agency rules, the Supreme Court (5-4) granted Ohio and several other applicants a stay that suspends the EPA’s “Good Neighbor” plan regulating some states’ emissions.

June 27, 2024

Supreme Court Holds That Federal Bribery Law Applies Only To Quid Pro Quo Exchanges And Does Not Extend To After-the-Fact “Gratuities”

The Supreme Court held 6-3 that a federal bribery statute, 18 U.S.C. § 666(a)(1)(B), does not criminalize after-the-fact “gratuities” paid to state or local government officials in recognition for official acts, where there was no quid pro quo agreement to take those acts.

June 26, 2024

Potential Reform of the California Labor Code Private Attorneys General Act (PAGA)

This proposed legislation, if enacted, would constitute the most significant modification of PAGA since it was enacted two decades ago, and would provide employers with significant new options when facing claims brought under PAGA.

June 26, 2024

U.S. Outbound Investment Regime Nears Reality as U.S. Department of Treasury Solicits Public Comment on Proposed Rule

The proposed rule would significantly curtail U.S. investments in the People’s Republic of China, Hong Kong, and Macau used to advance the development and production of semiconductors and microelectronics, quantum information technologies, and artificial intelligence systems.

June 25, 2024

New BIS Export Controls Target Russian and Belarusian Industrial Sectors & Technology Infrastructure, and Crack Down on Diversion

This update highlights the principal changes announced in the BIS rule and discusses how these expanded export control measures coordinate with and complement additional sanctions targeting Russia announced by OFAC on the same day.

June 24, 2024

Gibson Dunn Digital Assets Recent Updates – June 2024

Our digital assets update covers recent legal news regarding all types of digital assets, including cryptocurrencies, stablecoins, CBDCs, and NFTs, as well as other blockchain and Web3 technologies.

June 24, 2024

Derivatives, Legislative and Regulatory Weekly Update (June 21, 2024)

Gibson Dunn's lawyers bring you the latest in U.S. derivatives news from the past week.

June 21, 2024

Recent SFC Disciplinary Action Reinforces Enforcement Focus on Statutory Secrecy in Hong Kong

This disciplinary action serves as a timely reminder regarding the importance of compliance with the Statutory Secrecy Prohibition and as an example of the SFC’s willingness to take decisive action against individuals who breach this provision. 

June 21, 2024

SEC as Cybersecurity Regulator: SEC Expands Scope of Internal Accounting Controls to Encompass Companies’ Cybersecurity Practices in Recent Enforcement Action

SEC Expands Scope of Internal Accounting Controls to Encompass Companies’ Cybersecurity Practices in Recent Enforcement Action.

June 20, 2024

Supreme Court Holds That 2017 Mandatory Repatriation Tax Does Not Violate The Sixteenth Amendment

Today, in a case widely seen as a test of Congress’s ability to enact wealth taxes, the Supreme Court held narrowly that Congress did not violate the Sixteenth Amendment by requiring U.S. shareholders to pay a one-time tax on undistributed corporate earnings of controlled foreign corporations.

June 20, 2024

Updated Summary of Director Education Opportunities Available (June 2024)

A quarterly update of high-quality education opportunities for Boards of Directors of public and private companies.

June 20, 2024

DEI Task Force Update (June 19, 2024)

Our DEI Task Force provides an update on key developments, media coverage and commentary, and current litigation.

June 19, 2024

Annual ERISA Litigation Review and Outlook – 2024

Gibson Dunn's ERISA litigation update summarizes key legal opinions and developments during the past year to assist plan sponsors and administrators navigating the rapidly changing ERISA litigation landscape.  

June 18, 2024

California Supreme Court Holds That An Insured Can Access Its First-Level Excess Policy After Exhausting Only The Underlying Primary Insurance For That Policy Period

The California Supreme Court held that the standard language in commercial general liability policies allows an insured to access its excess insurance policy after exhausting its underlying primary insurance for the same policy period, not all primary insurance issued during the continuous period of injury.

June 18, 2024

IRS and Treasury Issue Guidance on Related-Party Basis Adjustments

This alert describes the IRS’s recent focus on partnerships, provides background on basis adjustments under subchapter K, and discusses the Related-Party Basis Adjustment Guidance issued earlier today.

June 17, 2024

U.S. Department of Treasury Releases Joint Policy Statement and Principles on Voluntary Carbon Markets

The Policy Statement asserts that “the U.S. Government is playing an increasingly important role in carbon credit markets” and serves to “codify the U.S. Government’s approach to advance high-integrity voluntary carbon markets.”

June 17, 2024

Derivatives, Legislative and Regulatory Weekly Update (June 17, 2024)

Gibson Dunn's lawyers bring you the latest in U.S. derivatives news from the past week.

June 17, 2024