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Chevron Overruling Sparks Regulatory Uncertainty Across Industries
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July 10, 2024
Chevron Overruling Sparks Regulatory Uncertainty Across Industries
By: Jake Gray
A landmark decision by the Supreme Court overruled 40-year precedent that provided the bedrock for modern federal agency rulemaking and administration. In Loper Bright Enterprises v. Raimondo (2024), alongside its companion case Relentless, Inc. v. Department of Commerce, the Supreme Court overruled Chevron U.S.A. Inc. v. Natural Resources Defense Council, Inc. (1984), holding that deference to an agency’s interpretation of the statute is inconsistent with both the Administrative Procedure Act (APA) and the judiciary’s function in interpreting statutes and determining questions of the law. The decision commences an era of potential regulatory uncertainty with broad implications for many industries regulated by the federal government and its agencies, while also formalizing what the Court noted as an existing tendency to selectively…
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Ready, Set, Go: More States Adopt Privacy Laws
July 8, 2024
Ready, Set, Go: More States Adopt Privacy Laws
By: Nicole Kardell
Note the below chart was updated on July 8, 2024 to reflect recent developments. The number of U.S. states that have adopted privacy laws grows regularly. Fortunately, there seems to be quite a bit of crossover, at least when it comes to thresholds that companies must meet in order to trigger compliance requirements. We provide below a chart that summarizes these thresholds by state, including…
The Supreme Court Strips Nonconsensual Release Power from Bankruptcy Courts
June 28, 2024
The Supreme Court Strips Nonconsensual Release Power from Bankruptcy Courts
By: George Calhoun
In a divided 5-4 decision, the Supreme Court held yesterday that “the bankruptcy code does not authorize a release and injunction that, as part of a plan of reorganization under Chapter 11, effectively seek to discharge claims against a non-debtor without the consent of affected claimants.” Harrington v. Purdue Pharma, L.P., __ U.S. __ (2024). Although there is a long history of nonconsensual third-party releases…
Ticketmaster’s Cruel Summer – the potential implications of a DOJ lawsuit against the ticketing platform and why concert fans may not be out of the woods yet.
SEC’s Lawsuit Against Telegram Raises Questions About Cryptocurrency “Presales” Under Regulation D
October 17, 2019
SEC’s Lawsuit Against Telegram Raises Questions About Cryptocurrency “Presales” Under Regulation D
By: Ifrah Law
On October 11, 2019, the Securities and Exchange Commission (“SEC”) filed a lawsuit against Telegram Group, Inc. and TON Issuer, Inc. (“Telegram”), and simultaneously obtained a temporary restraining order preventing Telegram from issuing its “Gram” cryptocurrency, which had been scheduled for delivery on October 31, 2019. The SEC claimed that the sale of Grams amount to an unregistered securities offering in violation of federal securities…
You Got Loot? FTC Examines In-Game Purchases
August 8, 2019
You Got Loot? FTC Examines In-Game Purchases
By: Ifrah Law
The FTC held three panels on Wednesday, August 7, 2019, that centered on one topic: loot boxes earned or purchased during online game play. It’s clear from the selection of panelists and the questions posed by FTC staff that the FTC is on high alert about potential consumer protection issues surrounding these in-game purchases. If the name of the game (pardon the pun) on Wednesday…
SEC Says “Pocketful of Quarters’” Planned Token Is Not a “Pocketful of Securities”
August 1, 2019
SEC Says “Pocketful of Quarters’” Planned Token Is Not a “Pocketful of Securities”
By: Ifrah Law
On July 25, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance issued a letter to Pocketful of Quarters, Inc. (PoQ), informing PoQ that it would not recommend enforcement action in regards to PoQ’s proposal to sell tokens (called Quarters) on its gaming platform. The SEC informed PoQ that based on PoQ’s description of its plans for the Quarters tokens, the tokens would not…
Equifax Settlement Teaches The Dos and Dont’s About Data Security
July 22, 2019
Equifax Settlement Teaches The Dos and Dont’s About Data Security
By: Nicole Kardell
It’s been a busy summer for the FTC and the federal agency is dominating the headlines. There is the $5 billion settlement with Facebook for failing to better protect user privacy, which was announced earlier this month. Then there is the multimillion dollar settlement with Google for failing to adequately protect children’s privacy. That was announced late last week. Today, the FTC announced a $575…
Ability to Revoke TCPA Consent Limited When Consent Was Provided Via Contract
April 3, 2019
Ability to Revoke TCPA Consent Limited When Consent Was Provided Via Contract
By: Ifrah Law
Although the Telephone Consumer Protection Act (“TCPA”) limits the ways in which companies may contact individuals via automated dialers, with prerecorded messages, or via text message, one of its hallmarks is that companies are entitled to contact consumers who have provided their express consent to be called. However, in 2015, the Federal Communications Commission (“FCC”) stated that individuals who previously consented to be contacted may…
