A January 15, 2021, decision from the UK’s highest court spells good news for English policyholders. In The Financial Conduct Authority v. Arch Insurance (UK) Ltd., and others, UKSC 2020/0177, the Court held that 21 insurance policies sold by eight leading business interruption insurers provide Continue Reading
A Tale of Two Policies: How Careful Interpretation Impacts Coverage Determinations
Two recent COVID-19 insurance decisions highlight how different interpretations of the same few policy words can result in one policyholder losing the coverage for which it paid. In Henderson Road Restaurant Systems, Inc. v. Zurich American Ins. Co., No: 1:20 CV 1239, 2021 WL 168422 (N.D. Ohio Jan. Continue Reading
President Biden Signals Aggressive Support of Unions by Firing NLRB General Counsel
While union activity remains at near record lows in the private sector, the new administration has sent a strong early signal that it hopes to change that situation and that it will not be patient in taking steps it thinks will help organized labor. On his first half day in office, President Biden Continue Reading
Employee Benefits Provisions of the Consolidated Appropriations Act, 2021
The Consolidated Appropriations Act, 2021 (the “Act”) was signed into law by the president on December 27, 2020. The Act, comprised of several pieces of legislation, contains a number of employee benefits-related provisions, including: Temporary rules for flexible spending accounts, providing Continue Reading
McCarter Achieves Significant Victory at the Third Circuit for Former Wilmington Trust Executive
McCarter lawyers recently achieved a significant victory at the Third Circuit Court of Appeals when the court unanimously reversed a criminal jury verdict from the District of Delaware against our client Robert V.A. Harra Jr., the former President and Chief Operating Officer of Wilmington Trust, and Continue Reading
FFCRA in 2021: Extended Mandates – NO; Extended Tax Credits – YES
The Families First Coronavirus Response Act (FFCRA) established two limited federal mandates to protect employees of employers with fewer than 500 employees who needed to be absent from work for reasons related to the COVID-19 pandemic. The Emergency Paid Sick Leave Act mandated two weeks of paid Continue Reading
Venture Capital & Emerging Growth Companies December 2020 Highlights
McCarter’s renowned Venture Capital & Emerging Growth Companies team empowers clients throughout the development cycle—from ideation to creation, capitalization, implementation, commercialization, and monetization. Though this has been a challenging year for many, we are thankful for our Continue Reading
Delaware Law Update: Arm’s-Length Bidders Can Enjoy “Sweet” Deals Alongside Controllers without Abiding or Abetting Breaches of Fiduciary Duty – Jacobs v. Meghji, et al.
The Court of Chancery dismissed claims of aiding and abetting breach of fiduciary duty and unjust enrichment against an investor that participated in an equity investment transaction alongside the company’s controlling stockholder. Concentrating on the investor’s status as an arm’s-length “bidder,” Continue Reading
Court of Chancery Grants Summary Judgment in Favor of Defendant on Contract Interpretation Claim, Finding Investor Rights Agreement Did Not Require Defendant to Seek Permission to Incur More Debt
The Delaware Court of Chancery’s decision in Searchlight CST, L.P. v. MediaMath Holdings, Inc., C.A. No. 2020-0652-SG (Del. Ch. Sept. 28, 2020), involved a contract dispute between MediaMath Holdings, Inc. (“MediaMath”) and its investor, Searchlight CST, L.P. (“Searchlight”), over the interpretation Continue Reading
SEC Modernizes Reporting Requirements for Public Companies Under Regulation S-K Items 101, 103, and 105
The U.S. Securities and Exchange Commission (SEC) recently adopted amendments to modernize the disclosure requirements in Items 101, 103, and 105 of Regulation S-K.[1] Having largely not touched these provisions over the past 30 years, the SEC adopted the amendments to modernize the description of Continue Reading