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Minnesota has a unique statute that allows minority shareholders in a closely held corporation to initiate an action for a buy-out of their interests. Minn. Stat. § 302A.751, subdivision 2. Under the Minnesota Business Corporation Act, a closely held corporation is a corporation with 35 or fewer...
Welcome to Saul Ewing’s Public Companies Quarterly Update series. Our intent is to, on a quarterly basis, highlight important legal developments of which we think public companies should be aware. This edition is related to developments during the first quarter of 2024. If you would like to discuss...
With the recent emergence of Name Image Likeness ("NIL") compensation, alumni associations focused on raising funds to compensate student athletes have been on the rise. But alumni associations in some form or another have been around as long as some of the oldest colleges and universities in the...
This checklist highlights certain considerations for companies preparing to file annual reports on Form 10-K for the calendar year ended 2023 and is intended to serve as a focused resource highlighting changes in disclosure requirements and points of emphasis for the Securities and Exchange...
Maryland’s intermediate court created new and binding precedent for cases related to misappropriation of trade secrets under the Maryland Uniform Trade Secrets Act (“MUTSA”). In the reported opinion of Ingram, et al. v. Cantwell-Cleary Co., Inc., the Appellate Court of Maryland held that customer...
Welcome to Saul Ewing’s Public Companies Quarterly Update series. Our intent is to, on a quarterly basis, highlight important legal developments of which we think public companies should be aware. This edition is related to developments during the fourth quarter of 2023. If you would like to discuss...
On November 21, 2023, the Federal Trade Commission (FTC) approved a resolution allowing it to use “compulsory process in nonpublic investigations involving certain products and services that use or claim to be produced using artificial intelligence (AI) or claim to detect its use.” This allows the...
On October 11, the Department of Justice released a settlement agreement it entered into with a large, Florida-based automotive management company for False Claims Act violations based on an allegedly improper forgiveness of a Paycheck Protection Program loan. Up to now, the DOJ has primarily...
A perennial debate exists in the white-collar space: do the benefits of self-disclosure outweigh the risks associated with providing the government with a road map to the company’s purported violation? Consistently, the Department of Justice, among other government agencies, has answered that...
Since Elon Musk announced his decision to remove the iconic bird logo and adopt "X", as Twitter's new logo (the "X Logo"), the rebranding decision has been the talk of the town. The rollout has prompted a barrage of reactions and has many questioning whether the change will attract legal hurdles...
Introduction The Supreme Court of the United States recently clarified the scope of appellate review over "purely legal" issues in cases where no post-trial motions were filed prior to an appeal. In Dupree v. Younger, No. 22-210, the Court unanimously reversed a decision of the United States Court...
On December 15, 2022, the National Labor Relations Board’s Los Angeles regional office determined that an unfair labor practice charge (ULP) alleging that student-athletes should be classified as employees has “merit.” The National College Players Association filed the ULP in February 2022 against...
As always, the new year also brings many new employment laws for California employers. Except as indicated below, they become effective January 1, 2023. The following is a summary of state laws only. Employers need to remember that local jurisdictions frequently have higher requirements that must be...
On October 25, 2022, the Equal Employment Opportunity Commission (EEOC) issued Frequently Asked Questions (FAQs) about its new “Know Your Rights” poster that it had issued that had been available for upload on October 19, 2022. The FAQs clarify: There is not a specific deadline for employers to...
On October 19, 2022, the federal Equal Employment Opportunity Commission (EEOC) released an updated poster that must now be posted. The new poster, which is titled “Know Your Rights”, replaces the previous “EEO is the Law” poster. The new poster now includes a QR code for applicants and employees to...
On June 29, 2022, the U.S. Department of Health and Human Services Office for Civil Rights released two guidance documents addressing (1) disclosures under the HIPAA Privacy Rule relating to reproductive health care (“Disclosure Guidance”), and (2) the privacy and security of reproductive health...