The New Jersey Legislature suspended the statute of limitations for conducting tax audits and related assessments through enactment of the 2020 COVID-19 Fiscal Mitigation Act. The statute of limitations is still lifted, with no end in sight. Michael Guariglia and Larry Sannicandro question the Continue Reading
Court of Chancery Dismisses Breach Claims Based on Rule 8, LPA Terms and Corwin
On February 9, 2022, in a putative class action captioned Walter E. Ryan Jr. v. Buckeye Partners L.P. et al., the Court of Chancery dismissed claims for breach of a limited partnership agreement (LPA), finding that the complaint failed to provide sufficient notice of the legal theories and facts Continue Reading
Connecticut Updates Guidance on PFAS Drinking Water Action Levels
On June 15, 2022, the Connecticut Department of Public Health (DPH) revised its non-binding standards for Per- and Polyflouroalkyl Substances (PFAS)[1]—and also renewed its call for public water systems to test for PFAS and take action to reduce exposures—based on the following drinking water action Continue Reading
Delaware Court of Chancery Pronounces Delaware a “Pro-Sandbagging” Jurisdiction
In Arwood v. AW Site Services, LLC, C.A. No. 2019-0904-JRS (Del. Ch. Mar. 9, 2022; corrected Mar. 10, 2022; amended Mar. 24, 2022) (hereinafter, Arwood), the Delaware Court of Chancery pronounced that Delaware is a “pro-sandbagging” jurisdiction. In the context of acquisitions, “sandbagging” is a Continue Reading
The Unique Nature Of COVID-Era Patent Procurement Trends
In addition to taking a pronounced human and economic toll, the COVID-19 pandemic has also affected patent procurement at the U.S. Patent and Trademark Office. This article examines changes in the filing of new U.S. patent applications and the abandonment of pending U.S. patent applications Continue Reading
DoD Braces for Inflation: Guidance for Contractors Battling Rising Costs
NJ DEP Proposes New “Environmental Justice” Permitting Rules
The New Jersey Department of Environmental Protection (NJDEP) released on June 6 proposed new rules that would implement parts of the Environmental Justice Law, N.J.S.A. 13:1D-157, requiring certain industrial facilities to consider the environmental and public health effects of their operations on Continue Reading
The Court of Chancery Clarifies the Standard for Evaluating Claims Predicated on Acceptance of Allegedly Unfair Compensation
On April 27, 2022, the Delaware Court of Chancery declined to dismiss claims for breach of fiduciary duty arising from the acceptance of allegedly underpriced equity grants. The grants at issue were made to directors and officers of Universal Health Services, Inc. (“UHS” or the “Company”) during the Continue Reading
SEC Proposes Rules for Enhancement and Standardization of Climate-Related Disclosures
The Securities and Exchange Commission has proposed new rules that would require and standardize public companies’ climate-change disclosures to investors. Under the proposed rules, which would apply to both domestic companies and foreign private issuers, certain climate-related disclosures would be Continue Reading
Climate Disclosure Regulations Will Directly Impact Nonpublic Companies
Wylie Donald authored an article for NU Property Casualty 360 discussing the SEC’s proposed climate change disclosure rule for public companies, and why nonpublic companies should take heed. Continue Reading