Legal News

Nieves v. Insight Building Co., LLC, C.A. No. 2019-0464-SG (Del. Ch. Aug. 4, 2020) - The Court of Chancery used an unlikely vehicle — a dispute over stormwater drainage — to further explain the limits of common law fiduciary duties. Plaintiffs/Homeowners experienced drainage issues and brought several claims against their builder, as well as the developer (“Developer”) from which the builder had purchased lots....By: Morris James LLP

Contractors performing work in California are required to be licensed by the California State License Board (“CSLB”). Cal. Bus. & Prof. Code §7065. Except for sole proprietors, contractors are typically licensed through “qualifiers,” i.e., officers or employees who take a licensing exam and meet other requirements to become licensed on behalf of the contractor’s company. Contractors who perform work in California without being properly licensed are subject to a world of hurt, including c...

Yesterday, Governor Newsom signed AB 1561 (Garcia/Greyson) extending most residential entitlements for 18 months. During periods of economic downturn, a blanket extension of tentative tract maps has not been uncommon, but the extension provisions of this bill go far beyond tentative maps. More specifically, any applicable time frame for expiration of any “housing entitlement” as defined, is extended by 18 months. This extension applies to any such entitlement issued prior to and effective on....

The Hong Kong Stock Exchange continues to pursue and implement a number of rule changes aimed at making the listing process more efficient while strengthening and broadening its role overseeing listed companies and the tools at its disposal for penalizing directors and officers. The Securities and Futures Commission also continues to actively investigate and prosecute cases of market misconduct. This update discusses a number of recent developments in each of these areas, as well as additional.....

A majority of dealmakers say their companies are focused on defense or survival, but about a quarter are actively pursuing growth. According to Mergermarket, the value of US M&A in the second quarter of 2020 was lower than any other quarter since it began tracking deals in 2006. Compared to Q2 2019, value was down 87 percent. Volume plunged as well, though not as much. But things began to change in the third quarter. In fact, the value of M&A in August was more than two times that of January.....

The US Federal Trade Commission and Department of Justice announced proposed changes to the rules governing Hart-Scott-Rodino (HSR) filings that, if implemented, would significantly increase the number of transactions that must be reported to the antitrust agencies – primarily by private equity, venture capital and other investment funds – as well as greatly expand the amount of information included in those filings....By: Cooley LLP

On Sept. 21, 2020, SEC’s Division of Corporation Finance (Corp Fin) posted a Compliance and Disclosure Interpretation (CDI) regarding restrictions on Form S-3 eligibility for private companies that go public via merger into a reporting shell company......By: Kramer Levin Naftalis & Frankel LLP

On June 7, the amended ordinances (the “Amended Ordinances”) prepared by the Japanese government to implement amendments to the Foreign Exchange and Foreign Trade Act (the “FEFTA”) were fully implemented, after coming into effect on May 8, 2020....By: Orrick, Herrington & Sutcliffe LLP

A federal judge has delivered another win for TikTok over the weekend, temporarily blocking a White House ban “on new downloads of the video-sharing network, which would have gone into effect at 11:59 p.m. in Washington.” The Court hasn’t yet ruled on additional restrictions set to take place on November 12 “that are designed to further curb the app’s use in the U.S.”....By: Robins Kaplan LLP

The COVID-19 pandemic and the corresponding economic volatility has dramatically impacted the US and the Indian M&A market. While many high-profile companies have abandoned proposed deals, various other companies have expressed or maintained interest in pursuing strategic acquisitions during this time. This article discusses the regulatory changes that parties should consider when contemplating M&A events in the Indian and the US markets in the wake of COVID-19....By: Kilpatrick Townsend & Stock...