News

NEWS ALERT: California Supreme Court Issues Mixed Bag Decision Re: Class and Representative Waivers in Employment Arbitration Agreements

By EsqSocial Corporation 24/06/14

Today, the California Supreme Court issued its long-awaited decision in Iskanian v. CLS Transportation Los Angeles, Inc. The Court upheld the general enforceability of class waivers in mandatory employment arbitration agreements, concluding that its...

Supreme Court Provides New Ammunition for Defeating Securities Fraud Class Actions

By EsqSocial Corporation 24/06/14

The U.S. Supreme Court today gave companies new ammunition to defeat securities fraud class actions. In Halliburton v. Erica P. John Fund, the Court held that defendants can, at the preliminary class certification stage, rebut the plaintiffs’...

Federal Court In New York Decertifies FLSA Collective Action Of 1,000 Hospital Workers Challenging Auto-Deduct Policy

By EsqSocial Corporation 24/06/14

Over the past several years, medical providers in particular have been beset by wage and hour claims arising out of so-called “auto-deduct” policies. A recent case, arising out of the Eastern District of New York, a jurisdiction that has generally...

Supreme Court Reaffirms Basic v. Levinson Presumption of Reliance - Affirms Defendant’s Right to Rebut that Presumption at the Class Certification Stage

By EsqSocial Corporation 24/06/14

On June 23, 2014, the Supreme Court of the United States issued its much-anticipated decision in Halliburton Co., et al. v. Erica P. John Fund, Inc., No. 13-317 (2014). The Court vacated and remanded the decision of the United States Court of Appeals...

Baker Botts: Supreme Court Sends ‘Decisive Message’ in Halliburton Decision

By EsqSocial Corporation 24/06/14

WASHINGTON, D.C., June 23, 2014 -- Today, the Supreme Court unanimously ruled that defendants in securities class actions under Section 10(b) of the Securities Exchange Act of 1934 must be allowed to present evidence at the class-certification stage...

IRS Ruling Allows Tax-Deferred Stock Rights for Fund Managers

By EsqSocial Corporation 24/06/14

Section 457A of the Internal Revenue Code (the Code) generally restricts the ability of offshore funds and other entities domiciled in tax-indifferent jurisdictions to offer tax-advantaged deferred compensation to U.S. persons. Revenue Ruling...

Delaware Fee-Shifting Legislation Postponed

By EsqSocial Corporation 24/06/14

As previously discussed (see below), a recent decision of the Delaware Supreme Court upholding a “fee-shifting” bylaw provision gave rise to proposed legislation aimed at limiting such provisions to non-stock corporations. The legislation was...

The Latest On OSHA's Attempts to Protect Whistleblowers

By EsqSocial Corporation 24/06/14

Section 11 (C) of the Occupational Safety and Health Act (OSH Act) states "no person shall discharge or in any manner discriminate against any employee because such employee has filed any complaint or instituted or caused to be instituted any...

FDA Releases Long-Awaited Guidances on Character Limitations and Misinformation on Internet/Social Media

By EsqSocial Corporation 24/06/14

In two separate guidances, the Food and Drug Administration (FDA) advises prescription drug and device manufacturers on its "current thinking" on advertising through space-constrained social media (e.g., Twitter) and on the monitoring of third-party...

SEC to Hold Open Meeting on Cross-Border Security-Based Swap Definitions

By EsqSocial Corporation 24/06/14

On June 18, the Securities and Exchange Commission announced that it will hold an open meeting on June 25 to consider whether to adopt rules that would apply the definitions of “security-based swap dealer” and “major security-based swap participant”...

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