Stating exaggerated claims at the beginning of a lawsuit can be a standard practice in litigation; however, a recent climate change lawsuit filed by seven California municipalities should remind litigators that unsupported exaggerations can cause collateral damage. The essence of the cities’ case is a public nuisance claim filed in California state court against several…
Category: Blog Articles
CLOUD Act: An Update Long Overdue
On March 23, 2018, President Trump signed the CLOUD Act–which was attached to the omnibus spending bill–into law. The CLOUD Act is a necessary update to the United States’ laws concerning issued warrants to businesses located in the United States for data stored overseas. The CLOUD Act modifies the Electronic Communications Privacy Act (“ECPA”). When the…
Ninth Circuit Rules on Equal Pay
The Ninth Circuit’s recent ruling could be a significant step towards eliminating gender pay discrimination in the workplace. The federal Equal Pay Act of 1963 attempted to eliminate gender wage discrimination by prohibiting employers from paying male employees higher wages than female employees for the same work.1 There were four exceptions to the general rule of…
California’s Proposition 65 and the Danger of Over-regulation
During the week of March 26, 2018, California announced that coffee shops are required to post warnings that the coffee customers are drinking may cause cancer.1 Such warnings are common in California thanks to Proposition 65 (“Prop 65”)—a thirty-year old California law mandating businesses to post cancer warnings if they sell products that contain substances…
SEC Begins Evaluation of NYSE Proposal to List Bitcoin ETFs
In March 2018, the U.S. Securities and Exchange Commission (“SEC”) announced that it will begin proceedings to determine whether it will permit a NYSE Arca rule change proposal to list and trade two bitcoin-related exchange traded funds (ETFs). 1 In its review, the SEC will seek to determine the rule’s consistency with the Securities Exchange Act…
What Will Gambling Legislation Look Like?
After hearing oral arguments in early December 2017 in the case Christie v. NCAA, 137 S. Ct. 2327 (2017), the Supreme Court has yet to issue a ruling regarding the legality of the Professional and Amateur Sports Protection Act (“PASPA”), the federal law which effectively bans sports gambling in all but four states. Going into…
A Terrifying Proposition: Why Looking to Tariffs and Trade Wars to Fix Domestic Industry is a Bad Idea
When the Director of President Trump’s National Economic Council Gary Cohn resigned in March, the stock market dropped almost 300 points the morning after the announcement.1 While your first reaction may be to write it off as coincidental, it is anything but, as the market displayed a similar reaction when rumors of his resignation were…
Has the U.S. Market Closed the Door to Huawei?
Huawei, a Chinese technology company, has the world’s second largest smartphone brand. Its smartphone sales have surpassed Apple and is only behind Samsung.1 But Huawei is not only a smartphone manufacturer—it is a giant telecommunication company with business spreading across almost every corner of the industry, including smartphones, routers, cell towers, phone chips, etc. Huawei…
Revised Tax Treatment for Net Operating Losses and Potential Effects
When Congress passed the Tax Cuts and Jobs Act in late 2017, the Internal Revenue Code (“Code”) experienced a major adjustment. In addition to numerous, noteworthy changes in the Code, the treatment of “net operating losses” is now subject to different parameters. A net operating loss (“NOL”) is a loss taken by a business where…
One Constant in a Series of Changes: State Courts Retain Jurisdiction over Securities Act Claims after Cyan v. Beaver County
The Wall Street Crash of 1929 brought about significant financial market reform. One of those reforms still in effect today is the Securities Act of 1933 (“1933 Act” or “the Act”). The Act aims to force companies offering public securities to provide “full and fair disclosure” of pertinent information.1 To foster compliance, it also provides…