The past few years have seen a number of class claims brought against banks in connection with securities lending programs (reported in the June 2009 ERISA Litigation Update).

The U.S. District Court for the Northern District of California recently denied class certification in an action alleging that Facebook, Inc. breached its advertising contracts.

The U.S. District Court for the District of Columbia recently denied class certification in an action under the Electronic Fund Transfer Act.

The Massachusetts Office of Consumer Affairs and Business Regulation (OCABR) announced late last week that it has delayed the effective date of the state’s new information security rules.

The CB Insights report on private tech company M&A in 2012 just came out and there are some very interesting trends highlighted by the report.

Secretary of the Treasury Paulson announced this morning that the Treasury Department is contemplating a new capital purchase program (CPP) for investing additional TARP funds in banks and, potentially, non-bank financial institutions.

In an apparent effort to quell growing concerns in the marketplace regarding its enforcement of issuer compliance with respect to the Build America Bond ("BAB") program, the Internal Revenue Service recently posted a notice on its website clarifying some of its enforcement policies.

On June 18, 2012, the IRS issued Revenue Ruling 2012-17, which holds that shares in a money market mutual fund qualify as "cash items".

In general, obligations under the new rules take effect as of March 30, 2012, but advisers who are required to register with the SEC will need to file their registration paperwork no later than February 14, 2012.

Given the state of the capital markets and current global economic uncertainty, Goodwin's Public Company Advisory Practice has been thinking through potential risk factors to be included in Form 10-Qs for the quarter ended June 30, 2022.

Just two weeks before the planned April 30, 2012 effective date, a federal appeals court has temporarily blocked the National Labor Relations Board’s ("NLRB") controversial rule requiring employers subject to the National Labor Relations Act ("NLRA") to post notices of employee rights under federal labor law, including the right to join or not join a union.

Celltrion has submitted a Marketing Authorization Application to the European Medicines Agency for CT-P55, its biosimilar candidate to Novartis' blockbuster drug COSENTYX. The application seeks approval across all European indications including multiple autoimmune conditions, following earlier regulatory filings in Canada and South Korea.

Moderna's mRNA-1010 seasonal influenza vaccine has received FDA approval for adults 50 years and older, marking a significant milestone in mRNA vaccine technology. The approval follows a unanimous recommendation from FDA's advisory committee supporting the vaccine's benefit-risk profile across both middle-aged and senior adult populations.

The SEC's Division of Corporation Finance has announced a significant policy shift regarding shareholder proposals under Rule 14a-8, fundamentally changing how companies and shareholders navigate the proxy process. This development eliminates a longstanding mechanism that provided regulatory guidance on proposal exclusions, creating new uncertainty for corporate governance practices. Companies must now adapt their approach to shareholder proposal challenges while continuing to meet filing requirements throu

Glass Lewis is transforming its proxy advisory approach by moving away from a single global voting policy toward a multi-perspective framework that offers four distinct viewpoints tailored to different client priorities. The new system, set to launch in September 2027, will provide perspectives ranging from business fundamentals to sustainability-focused governance, allowing institutional investors to align proxy research with their specific investment philosophies.

The New York Stock Exchange has proposed extending the timeline for newly public companies to establish internal audit functions from one year to five years post-listing.

Nasdaq's new $5 million Market Value of Listed Securities requirement faces an automatic stay following petitions for SEC review. The rule would have immediately suspended and delisted companies falling below the threshold, but its implementation now hangs in regulatory limbo as the Commission weighs whether to affirm or overturn the Division of Trading and Markets' approval.

Eli Lilly announces a definitive agreement to acquire Merida Biosciences for up to $2.875 billion in cash, gaining access to an innovative antibody-engineering platform that selectively targets pathogenic autoantibodies in autoimmune and allergic diseases. The acquisition includes Merida's lead program MER511, currently in Phase 1 development for Graves' disease and thyroid eye disease, along with earlier-stage programs addressing food allergy, asthma, and kidney disease.

The U.S. Department of Health and Human Services has announced the termination of COVID-19 Emergency Use Authorization declarations, marking a significant shift in how COVID-19 medical products will be regulated. With FDA-approved treatments now widely available, manufacturers must navigate new regulatory pathways as the emergency framework that enabled rapid pandemic response comes to an end.

Outlook Therapeutics has achieved a significant regulatory milestone with FDA approval of LYTENAVA™, the first ophthalmic formulation of bevacizumab specifically developed for treating neovascular age-related macular degeneration. While bevacizumab has been used off-label in retina care through repackaged oncology formulations, this marks the first FDA-approved version designed specifically for intravitreal ophthalmic use, with the product expected to receive 12 years of exclusivity under the BPCIA.