Posts by blrme
Make-Whole Provisions in Bankruptcy: Circuit Splitting Your Way to a Higher Creditor Payout
By: T. Scott Shogren In true Fifth Circuit fashion, the court’s decision in In re Ultra Petroleum Corporation upended an already uneasy circuit split between the Second and Third Districts.[1] In approaching make-whole provisions, a contract tool used to require the acceleration of debt interest payments in the event of the advanced closing of an…
Read MoreOpen Concept, Closed Case: Realtors Lose Class Action Antitrust Suit – Is a DOJ Death “Nail” Coming?
By: A. Asad Imam The National Association of Realtors (NAR) reached a nationwide settlement on claims alleging that the real estate industry had engaged in anti-competitive practices by keeping buyers’ agent’s commissions high – a per se violation of the Sherman Act (the “Act”).[1] The case, Burnett v. National Association of Realtors alleged price-fixing and…
Read MoreDecoding the SEC’s New Rules: Understanding the New Definition of a ‘Dealer’ in Securities Law
By: Cassy Sulzer On February 6, 2024, The Securities and Exchange Commission (“SEC”) implemented two new rules in the Securities Exchange Act of 1934 (“the Act”): Rule 3a5-4 and 3a44-2.[1] These rules introduce ambiguity regarding the classification of individuals as “dealers” or as “traders,” crucial for determining registration requirements with both the SEC and self-regulatory…
Read MoreA Mid-Air Balancing Act: To Under-Regulate or Over-Regulate?
By: Leo Garonski Under the Civil Aeronautics Act of 1938, Congress significantly subsidized airlines and created the Civil Aeronautics Board to prevent restraints of trade, designate airlines routes, and control seat prices.[1] The Act also required that U.S. citizens own at least three-quarters of each U.S.-based airline.[2] The U.S. airline industry inflected on cost and…
Read MoreDuty to Protect: How the 23andMe Data Breach is Defining the Responsibilities of Data Collectors and Storers
By: Veronica Walsh On October 6, 2023, 23andMe reported they had experienced numerous data breaches executed by hackers through credential stuffing between April and September of 2023.[1] Since the data breach, affected users have filed a class action lawsuit against 23andMe.[2] The lawsuit alleges the company recklessly maintained users’ personal information and “failed to use…
Read MoreHow Courts Are Navigating the Constitutional Debate Around FINRA’s Enforcement Authority
By: Hannah Lief Alpine Securities Corporation (“Alpine”), a broker-dealer, is challenging the delegation of authority by the Securities and Exchange Commission (“SEC”) to Financial Industry Regulatory Authority (“FINRA”) in Alpine Securities Corp. v. Financial Industry Regulatory Authority, Inc.[1] The lawsuit arises out of Alpine’s constitutional challenge to FINRA’s enforcement of securities regulations.[2] During district court…
Read MoreMonument(al) Designations and Their Vulnerabilities
By: Sarah Benjamin The Antiquities Act, which was passed in 1906, gives Presidents broad discretion to designate areas as National Monuments and thereby take them out of use for commercial industries and set them aside for the sole purpose of public recreation and enjoyment.[1] Since the Act’s passage, various Presidents have designated nearly 100 million…
Read MoreWhat the Shell? Understanding the SEC’s Latest Rule for SPACs
By: Liam Sullivan Last month, SEC Commissioners adopted new rules regarding special purpose acquisition companies (SPACs), concluding a years-long effort to increase transparency and protections around investments in SPACs and the acquisition (de-SPAC) and initial public offering (IPO) of existing companies using this investment vehicle. The SEC turned a critical eye towards SPACs during a…
Read MoreYour Privacy: Wrapped
By: Miguel E. Serrano How does the sudden prevalence of “Wrapped” compilations fit into U.S. privacy law? On January 17, 2024, the D.C. Metro (Washington Metropolitan Area Transit Authority or “WMATA”) followed companies like Spotify, Duolingo, and the Washington Post in posting a 2023 “year-end review.”[1] When Spotify launched its Wrapped feature in 2015, the…
Read MoreHow Brita’s Alleged Patent Ambush Can Wash Away Competition in the Water Filter Field
By: Gustav Gulmert According to the Environmental Working Group, over fifty percent of Americans consider their tap water as unsafe.[1]Instead, people turn to water pitcher filters for their drinking water at home, the gym, and work.[2] Zero Technologies, LLC (“Zero”) and Brita sell high-performance gravity-fed water pitcher filters approved by the NSF Foundation, a standards-setting…
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