On March 18, 2020, in Salzberg, et al. v. Sciabacucchi, a unanimous Delaware Supreme Court, upheld the facial validity of federal-forum provisions—provisions adopted by Delaware corporations in their certificates of incorporation requiring plaintiffs who file actions arising under the Securities Act of 1933 (the “’33 Act”) to do so exclusively in federal court.
Developments around the COVID-19 pandemic continue to move fast and significant changes in the relevant laws continue to evolve. This Client Alert covers three recent developments, including the passage by the United States Senate of the Families First Coronavirus Response Act, California’s temporary suspension of the California WARN Act, and significant softening of the Orange County Public Health shelter-in-place regulations. As always, we encourage you to reach out to any member of team listed at the end of this Alert with any questions you may have on these fast moving topics.
Jason de Bretteville
, chair of Stradling's Litigation Department and White Collar Criminal Defense
practice, was quoted in an article published by Healthcare Risk Management
, “DOJ’s New Guidance on Corporate Compliance Provides Valuable Tool for Risk Managers.”
Jason de Bretteville
, chair of Stradling's White Collar Criminal Defense
practice group and co-chair of the firm's Enforcement Defense & Investigations practice group, was quoted in an article published in BioWorld MedTech
, “New DOJ Memo Avoids All-Or-Nothing Cooperation Credit Seen In Yates Memo.” The DOJ released a new memo stating that False Claims Act prosecutions offer partial credit for cooperation.
Newport Beach-based Jason de Bretteville
, chair of Stradling's White Collar Criminal Defense practice group and co-chair of the firm's Enforcement Defense & Investigations practice group, was quoted in an article published in Business Insurance
, “Firms Considering IPOs Advised to Prepare for Lawsuits.” The article discusses different measures firms can take to avoid becoming the target of increased IPO litigation being filed in more plaintiff-friendly state courts, such as developing a relationship early on with their directors’ and officers’ liability insurance.
Jason de Bretteville
, chair of Stradling’s White Collar Criminal Defense
practice group and co-chair of the firm’s Enforcement Defense & Investigations practice group, was quoted by Westlaw Journal
regarding the Supreme Court’s decision in Cyan Inc. et al. v. Beaver County Employees Retirement Fund et al
, a class action lawsuit alleging that the telecommunications systems supplier misrepresented its sales figures before its IPO. The Supreme Court unanimously agreed that “state courts have concurrent jurisdiction with federal courts over class-action lawsuits that only allege violations of the Securities Act of 1933.”
Shareholder Jason de Bretteville
and associate Sheila S. Mojtehedi
wrote an article for the Westlaw Journal
(Delaware Corporate and Corporate Officers & Directors Liability) discussing the possible impact of Digital Realty Trust v. Somers
, a recently argued U.S. Supreme Court appeal of a 9th Circuit decision that extended anti-retaliation protection to corporate insiders who blow the whistle internally but do not notify the government.
White Collar Defense shareholder Jason de Bretteville and associate Kenny Hsu were published in the Westlaw Journal’s Corporate Officers and Directors Liability Expert Analysis section with their post mortem analysis of the Supreme Court’s December 6, 2016 decision in Salman v. United States.
White Collar Defense shareholder Jason de Bretteville and associate Kenny Hsu were published in the Westlaw Journal’s White Collar Crime Litigation News and Analysis section with their expert analysis of the much anticipated oral arguments in Salman v. United States. In the article, “Supreme Court Revisits Insider Trading’s Personal Benefit Requirement,” de Bretteville and Hsu argue that a majority of the court appeared to be reluctant to break from precedent and would likely “be comfortable with reaffirming — or at most, slightly clarifying — the standards for imposing liability that existed before the 2nd U.S. Circuit Court of Appeals’ landmark decision in United States v. Newman.”
Stradling White Collar, Enforcement Defense & Investigations shareholder Jason de Bretteville's article "Insider Trading Ruling Will Curtail Regulatory Authority" was published in the Los Angeles Daily Journal.
Stradling Shareholder and Chair of the White Collar Criminal Defense practice, Jason de Bretteville, co-authored a chapter in the Section of International Law publication of the American Bar Association. The chapter, "The Foreign Corrupt Practices Act - An Overview," can be seen in the American Bar Association's ("ABA") International Litigation Strategies and Practice, International Practitioner's Deskbook Series.
Stradling shareholders Kathleen Marcus and Jason de Bretteville and Stradling attorney Susan Tran published a Client Alert detailing new disclosure requirements for medical device and pharmaceutical companies conducting business in France.
Stradling shareholder Jason de Bretteville co-authored a chapter called "Corruption" in the innovative bi-lingual novel "A Corporate Journey to the West: or How to make a successful acquisition in the USA," a fictional account of a Chinese company's acquisition of a U.S. company.
Stradling white collar criminal defense shareholder Jason de Bretteville was published in Smart Business in the article "How Smart Companies Comply with the Foreign Corrupt Practices Act."
Stradling litigation shareholder Jason de Bretteville was published in Bloomberg Law's White Collar Crime Report.