In a stock purchase transaction, the outstanding stock of the target company is transferred directly by its stockholders to the purchaser, with a stock purchase agreement serving as the primary governing...
Recreational cannabis continues to gain in popularity as more states legalize its use. To meet this growing demand, an increasing number of landlords are renting space to cannabis retail businesses. Both...
This practice note explains whether and how drug, medical device, biologics, and other life sciences companies should include ADR mechanisms in their contracts to resolve commercial disputes. Read now...
Do you need to understand when a U.S. employer may have to comply with U.S. labor and employment laws extraterritorially and when a foreign employer with operations in the United States is responsible...
Read this new practice note by Daniel Swanson and Julian Kleinbrodt from Gibson, Dunn & Crutcher to get up to speed on antitrust risks in intellectual property licensing. Leverage legal strategies...
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A Texas District Court recently issued an opinion, in Utah v. Walsh, favoring the U.S. Department of Labor (DOL) regarding the legitimacy of the DOL’s final regulations addressing “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.” The regulations came under scrutiny for how they assess fiduciary consideration of environmental, social, and corporate governance (ESG) factors in ERISA plan investing. On a summary judgment motion, the court recognized the complexity of the prior Trump-administration final regulations, noting that “in stakeholders' eyes, [prior regulations] created a ‘chilling effect’ on the appropriate integration of climate change and other ESG factors in investment decisions.” Referencing the Chevron Doctrine’s two-step approach in determining the legitimacy of agency regulations, the court concluded that the DOL regulations prevailed in meeting both step one and step two of a Chevron Doctrine analysis and were not “manifestly contrary to the statute.” The ruling gives ERISA plan fiduciaries room to consider ESG factors when selecting and monitoring investments on behalf of participants.
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