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Haynes and Boone | October 2017

Earlier this year, the Tenth Circuit dismissed two appeals in connection with the Bureau of Land Management’s (“BLM”) Final Rule implementing its regulations imposing new standards and obligations on hydraulic fracturing on federal and Indian lands (“Fracking Rule”). The appeals had been filed challenging the district court’s prior ruling that struck down the rule in the face of industry, state, and tribal challenges ...

Haynes and Boone | March 2018

Congress recently enacted comprehensive tax reform (the “Act”). This memorandum highlights some of the provisions of the Act that are particularly relevant to U.S. multinational groups, with a focus on the provisions relating to income associated with intangible property, as defined for applicable U.S. federal income tax purposes. New Corporate Tax Rate The Act significantly changes the U.S ...

Haynes and Boone | October 2017

The Digital Millennium Copyright Act of 1998 (the “DMCA”) provided a safe harbor to shield website owners, ISP’s, and other online service providers from certain claims for copyright infringement based on user generated content. This safe harbor has been very successful ...

Haynes and Boone | June 2017

On Tuesday, the U.S. Supreme Court held that United States patent rights are exhausted by the sale of a product by the patentee or its licensee “regardless of any restrictions the patentee purports to impose or the location of the sale.” Impression Prods., Inc. v. Lexmark Int’l, Inc., No. 15 1189, slip op. at 2 (U.S. May 30, 2017). In so doing, the Court reversed the Federal Circuit’s February 2016, en banc decision ...

Haynes and Boone | June 2017

A unanimous Supreme Court held on June 5, 2017, that the SEC’s ability to recover funds through disgorgement is subject to a five-year statute of limitations. The SEC routinely seeks disgorgement as an equitable remedy in actions alleging securities law violations and asserted that disgorgement was not a penalty subject to the five year statute of limitations under 28 U.S.C. § 2462 ...

Haynes and Boone | May 2017

On Monday, the U.S. Supreme Court in TC Heartland LLC v. Kraft Foods Group Brands LLC, No. 16-341 (May 22, 2017) unanimously overruled a longstanding Federal Circuit decision that allowed patent infringement suits to be filed nearly anywhere, even in venues where accused infringers sold no more than a few allegedly infringing products ...

Haynes and Boone | March 2018

As described in our earlier client alerts, since 1993, a central tenet in the structure of senior real estate lending documentation is the prevention of what is commonly referred to as “cram down ...

Haynes and Boone | June 2018

On June 21, 2018, the United States Supreme Court, in South Dakota v. Wayfair, Inc., held that a state can now require companies not physically present in that state to collect tax on internet sales made to its residents. The explosive growth of e-commerce combined with the states’ eroding tax base convinced the Supreme Court to turn back a half century of jurisprudence ...

Haynes and Boone | June 2017

In a recent decision concerning off-site drilling, the Texas Supreme Court affirmed the San Antonio Court of Appeals1 and held that an oil and gas operator could drill through the mineral estate underlying an adjacent tract of land without the adjacent mineral lessee’s permission. Lightning Oil Co. v. Anadarko E&P Onshore LLC, No. 15-0910, 2017 Tex. LEXIS 463, --- S.W.3d --- (Tex. May 19, 2017) ...

Haynes and Boone | March 2018

On February 27, 2018, the Supreme Court resolved a split between the Second, Third, Sixth, Eighth, and Tenth Circuit, and the Seventh and Eleventh Circuit in its ruling inMerit Management Group, L.P. v. FTI Consulting, Inc. (“Merit Management”)583 U. S. ____ (U.S. Feb. 27, 2018) ...

Haynes and Boone | May 2016

Plaintiffs frequently bring class action claims for alleged statutory violations for which Congress has provided private rights of action and statutory damages. In many of these instances, plaintiffs do not allege any specific, tangible harm (such as monetary loss), but claim that the violation of these so-called “statutory rights” by itself constitutes injury-in-fact sufficient to satisfy standing requirements. This week, the Supreme Court held in Spokeo v ...

Haynes and Boone | July 2017

On June 26, 2017, the Supreme Court held in California Public Employees’ Retirement System v. ANZ Securities, Inc., that the three-year time limit in the Securities Act of 1933 is a statute of repose that is not subject to equitable tolling. This means that shareholders will not be able to rely on the filing of a proposed class action lawsuit to suspend the running of a statute of repose on their individual claims ...

Haynes and Boone | March 2016

The FDA’s Proposals on the Revision of the Nutrition and Supplement Facts Labels In early 2014, first lady Michelle Obama announced upcoming changes to the FDA’s Nutrition Facts label, and in March 2014, the FDA issued a proposed rule on the revision of Nutrition and Supplement Facts labels “to assist consumers in maintaining healthy dietary practices ...

Haynes and Boone | September 2017

As part of the implementation of the Mexican energy reform of 2013, several new regulations and administrative guidelines affecting the hydrocarbons and power industries were issued during July-August 2017. These are of particular importance to oil and gas producers, midstream companies and power generators, traders and others looking to invest or expand operations in Mexico’s dynamic energy sector ...

Haynes and Boone | May 2020

State Attorneys General across the nation are warning consumers about price gouging during the COVID-19 pandemic and offering easy online tools to report violations. Consumers have gotten the message. Texans, for example, have sent over 10,000 complaints of price gouging to the state AG’s office during the pandemic.1 Price gouging laws have been enacted by nearly 75 percent of states ...

Haynes and Boone | July 2020

In the VC community, especially for early stage investments, the valuation of a startup is strongly influenced by subjective factors, mainly how the investors view the business, market and management team of the startup. While there are no objective benchmarks for valuing early startups, the valuations of these companies are especially vulnerable to an uncertain economy. Valuation is a very important issue for startups ...

Haynes and Boone | August 2017

IRS provides Retirement Plan Loan and Hardship Distribution Relief for Harvey Victims The IRS has released Announcement 2017-11 providing relief from some of the loan and hardship distribution requirements under qualified retirement plans (including Code Section 401(a) and 403(b) plans) for the period of August 23, 2017 through January 31, 2018. The relief applies to employees or former employees either (i) whose principal residence on Aug ...

Haynes and Boone | April 2020

On April 14 and April 15, 2020, the Small Business Administration ("SBA") provided additional guidance on the Paycheck Protection Program (“PPP”) through the issuance of a new Interim Final Rule (the “New Rule”). This rule supplements the first PPP interim final rule published on April 2, 2020, as well as issuing updates to the Frequently Asked Questions document (“FAQs”) originally published on April 2, 2020 ...

Haynes and Boone | May 2020

With the recent significant decline in commodity prices, and physical transportation and storage curtailments, due in large part to reduced demand related to the COVID-19 pandemic, producers are evaluating many of their producing oil and gas wells to determine whether some level of reduced production is appropriate ...

Haynes and Boone | July 2020

Peter de Boisblanc, HUB International, also contributed to this article. The COVID-19 pandemic has impacted the economy to a significant extent ...

Haynes and Boone | March 2020

Several state and local governments have issued “shelter in place” orders and undoubtedly more will follow. All have various exemptions for “essential businesses” and many rely on exemptions outlined in the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (“CISA”) guidance on critical infrastructure workers ...

Haynes and Boone | December 2019

Summary of Public Policy and Prior Amendments The Minimum Fuels Storage Public Policy (the “Public Policy”) was released by Mexico’s Ministry of Energy (“SENER”) on December 12, 2017. The objective is to improve energy security in Mexico and ensure adequate energy supply and competitive prices, through the establishment of mandatory minimum fuel inventories and reporting obligations ...

Haynes and Boone | March 2020

In the wake of the economic downturn caused by the coronavirus outbreak, Congress sought to pass a stimulus bill designed to mitigate the negative impact on the U.S. economy of measures taken to slow the spread of the virus.Hopes of a quick passage of the bill dimmed on March 21, when the Democrat and Republican negotiators in the Senate could not agree on worker protections or stock buyback restrictions for businesses that received funding, among other issues ...

Haynes and Boone | March 2016

The Second Circuit issued an important decision recently in In re Sanofi Securities Litigation applying the Supreme Court’s landmark Omnicare decision. In Omnicare, the Supreme Court held that a statement of opinion, even if honestly believed, could be actionable if the issuer failed to disclose material facts that conflict with what a reasonable investor would, in context, expect about the issuer’s basis for the opinion ...

Haynes and Boone | March 2017

On March 1, 2017, the Securities and Exchange Commission (the “SEC”) adopted final rules that will require registrants to include a hyperlink to each exhibit identified in nearly all of the registration statements and reports subject to Item 601 of Regulation S-K or under Form F-10 or Form 20-F (the “Final Rule”) ...

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