Corporate Defense and Disputes

Important developments in U.S. securities law, white collar criminal defense, regulatory enforcement and other emerging issues impacting financial services institutions, publicly traded companies and private investment funds

Category Archives: Labor & Employment

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ESG on the Books: NASDAQ Proposed Rules Require Board Diversity

In December, the NASDAQ proposed new listing rules that—if implemented—would require companies to (i) disclose information about the diversity of their directors on an annual basis and (ii) have at least two diverse directors, or else provide an explanation why they do not. By “diverse directors,” the rules contemplate “one [director] who self-identifies as female … Continue Reading

Pinning Down Corporate Leadership

An interesting shareholder derivative suit was filed on November 30, 2020 in the Northern District of California against Pinterest, Inc. Pinterest, a visual discovery engine popular for collecting ideas for weddings and aggregating recipes, went public in April 2019. The complaint alleges that Pinterest executives “breached their fiduciary duties to the [c]ompany by perpetrating or … Continue Reading

U.S. DOL Issues Final Rule Defining Fiduciary Investment Advice

Today, the U.S. Department of Labor released its highly-anticipated Final Rule and Exemptions addressing when a person providing investment advice with respect to an employee benefit plan or individual retirement account is considered to be a fiduciary under the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code. The new rule is … Continue Reading

The Modern Slavery Act 2015 and Supply Chain Transparency

Introduction The Modern Slavery Act 2015 is new legislation introduced in the UK with the intention of combatting slavery and human trafficking.  Continuing the trend for legislation to have extra-territorial reach, as illustrated by the UK Bribery Act, it can apply to entities based outside of the UK. Of particular importance to businesses is Section 54. … Continue Reading
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