Legal News

In today’s edition of Daily Compliance News: Trump wants cut of Microsoft TikTok deal. (WaPo) BP reports loss but increases green investment. (NYT) UK issues sanctions warning for maritime sector. (WSJ) SEC probing Kodak. (WSJ)...By: Thomas Fox

Precision Castparts Corp. purchased companies with manufacturing facilities in the United States and Germany for €800 million. After the sale closed, Precision discovered that the seller had “manipulated financial documents of the acquired companies to show that they were ‘high margin’ and ‘high cash flow’ businesses. In fact, the acquired companies were ‘functionally insolvent.'”...By: Carlton Fields

Key Takeaways - On July 28, 2020, the U.S. Treasury Department, as chair of the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), released the final rule to establish filing fees for CFIUS reviews of notices of transactions (“Final Rule”). ......By: Dechert LLP

The Rhode Island Department of Environmental Management (DEM) announced today that $3 million is available in new funding opportunities for the cleanup and redevelopment of contaminated properties all across Rhode Island, known as brownfields. Primary funding for the grants include $2 million from the 2018 Green Economy Bond, which was passed by more than 79 percent of RI voters. The remaining $1 million comes from savings realized from previous rounds of grants....By: Partridge Snow & Hahn LLP

On July 21, 2020, the Huntington Town Board adopted significant amendments to the Town’s zoning and site plan regulations for mixed-use buildings in the Town’s C-6 (General Commercial) Districts. The amendments, set forth in a series of resolutions, are aimed at controlling the scale of future mixed-use buildings, reducing their burden on public infrastructure, and protecting the suburban character of the Town’s hamlet centers....By: Farrell Fritz, P.C.

The COVID-19 virus has ushered in unprecedented and challenging times for our country and our global community.  From the deeply personal pain and suffering caused by the virus as a health pandemic to behavioral adjustments in the consumer population at large (“social distancing,” etc.), to our everyday routines, burdens created by business closures and shelter in place orders, the full force and impact of the virus on our society won’t be known for a long time....By: Goulston & Storrs PC

It's difficult enough to keep on top of the news at the moment – not to mention the raft of recent changes to the planning system announced by Whitehall over the past couple of months. With that in mind, and as the Parliamentarians jet off in search of a quarantine-free summer break, we've collated a handy quick reference guide to the key recent planning and development changes – our recess round-up. Please see full Publication below for more information....By: Hogan Lovells

In Skye Mineral Investors LLC v. DXS Capital (U.S.) Limited, et al., the Delaware Court of Chancery (the “Court”) denied defendants’ motion to dismiss, finding that plaintiffs had sufficiently pled a breach by the members holding a minority equity interest (the “Minority Members”) in Skye Mineral Partners, LLC (“SMP”) and the manager who the Minority Members appointed to SMP’s board of managers (the “Minority Manager”) of their fiduciary duty of loyalty to SMP and its members. ...By: Gray Reed

On July 31, 2020, through Executive Order 20-181, Governor DeSantis declared a state of emergency in the following counties due to the threat of Hurricane Isaias: Brevard, Broward, Clay, Duval, Flagler, Indian River, Martin, Miami-Dade, Monroe, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Putnam, Seminole, St. Johns, St. Lucie, and Volusia. Although Florida was fortunate to avoid most of the effects of Hurricane Isaias, there is an opportunity to extend certain development orders and...By: B...

In re Oracle Corp. Derivative Litig, Consol. C.A. No. 2017-0337-SG (Del. Ch. June 22, 2020) - At the pleadings stage, a claim for aiding and abetting a breach of fiduciary duty requires that it is reasonably conceivable that the alleged aider and abettor knowingly provided substantial assistance in the breach of fiduciary duty....By: Morris James LLP