The U.S. Department of the Treasury late yesterday released a draft set of regulations that would establish, for the first time, filing fees for most transactions submitted to the Committee on Foreign Investment in the United States (CFIUS). Under...By: Shearman & Sterling LLP
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On February 28, 2020, the Texas Supreme Court reversed a ruling from the First Court of Appeals in Houston in the case of Chalker Energy Partners III, LLC, et al. v. Le Norman Operating LLC, 547 S.W.3d 27 (Tex. App.—Houston, 2017). The Texas Supreme...By: Shearman & Sterling LLP
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On February 26, 2020, Chancellor Andre G. Bouchard of the Delaware Court of Chancery denied a motion to dismiss breach of fiduciary duty claims brought by former shareholders of AmTrust, Inc., challenging the take-private buyout of the company by its...By: Shearman & Sterling LLP
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On February 26, 2020, the United States Supreme Court, in a unanimous decision by Justice Samuel Alito, held that for purposes of assessing the appropriate statute of limitations for a breach of fiduciary duty claim under the Employee Retirement...By: Shearman & Sterling LLP
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The new Competition Law (the "Competition Law") of the Kingdom of Saudi Arabia (the "Kingdom") was enacted by Royal Decree M/75 on 29/06/1440 Hijri (corresponding to 6 March 2019) and came into force on 24/01/1441 Hijri (corresponding to 23 September...By: Shearman & Sterling LLP
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It is often taken for granted that only the named parties to a contract can enforce it. The English Court of Appeal has recently considered an important derogation from that assumption in the context of an arbitration claim....By: Shearman & Sterling LLP
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On February 5, 2020, Judge Matthew F. Kennelly of the United States District Court for the Northern District of Illinois sustained some but not all claims in a putative class action asserting violations of Sections 10(b) and 18 of the Securities...By: Shearman & Sterling LLP
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On February 4, 2020, Judge Catherine C. Blake of the United States District Court for the District of Maryland dismissed certain claims in a putative class action asserting claims under Section 10(b) of the Securities Exchange Act of 1934 against a...By: Shearman & Sterling LLP
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US DEVELOPMENTS - SEC and NYSE/Nasdaq Developments - SEC Proposes Changes to Accredited Investor Definition to Broaden Access to Investments - In December 2019, the Securities and Exchange Commission (SEC) proposed updates to its rules...By: Shearman & Sterling LLP
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On January 28, 2020, the U.S. Federal Trade Commission (FTC) announced the annual changes to the thresholds for the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). The new size of transaction threshold is $94...By: Shearman & Sterling LLP
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