On November 8, 2017, legislation was introduced to update and strengthen the legal authorities of CFIUS. The bill is aimed at maintaining American leadership in certain critical technology industries and protecting against evolving threats to American national security and critical infrastructure.
The U.S. government has recently taken a number of significant steps to implement new sanctions on Russia, including tightening sanctions on the country's financial and energy sectors, and issuing guidance that offers clarity for both U.S. and non-U.S. companies on the U.S. government’s principal areas of concern and implementation priorities.
NEW ACTIVIST TACTIC
In the past year, more than 50 publicly traded companies have amended their bylaws to address the potential for a so-called “placeholder slate” of directors. The amendments began to appear in response to a tactic used last year to end-run typical advance notice bylaws for director nominations.
In France, companies and entrepreneurs have expressed optimism that changes in government leadership may result in the easing of regulations that they believe constrain the French economy. In the European Union, companies should be mindful of the active enforcement of EU state aid violations, which has wide-ranging implications for multinationals with investments in the EU.
ONE BELT, ONE ROAD
Companies are taking on projects under China’s infrastructure initiative, but such projects pose compliance risks. Hong Kong appears poised to continue aggressively pursuing enforcement actions against companies for alleged market misconduct, especially as the initiative ramps up and more companies tap Hong Kong's capital markets.
PATENT LITIGATION TRENDS
In the months since the U.S. Supreme Court's decision in TC Heartland v. Kraft Foods, patent lawsuits appear to be on a downward trend. Companies potentially facing patent litigation should keep a close watch on several key issues as courts and litigants continue to define the bounds of the decision.
The U.S. Supreme Court's dismissal of PEM Entities LLC v. Levin surprised those who had expected the Court to resolve the circuit split on whether federal or state law governs debt recharacterization in bankruptcy. Meanwhile, despite court criticism, the equitable mootness doctrine persists in some form within every circuit that has jurisdiction over bankruptcy appeals.
Global growth in demand and supply for liquefied natural gas has resulted in significant recent investment in U.S. liquefaction facilities. Developers and investors, alike, are seeking to maximize the opportunities presented by the current market.
The DOJ’s Challenge to the AT&T/Time Warner Deal
Shepard Goldfein and James Keyte discuss the DOJ's case against AT&T's proposed acquisition of Time Warner.
Corporate Finance Alert: Filing a New Form S-3? What You Need to Know About the New Revenue Recognition Standards
The much-discussed new revenue recognition standards jointly issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) to harmonize revenue recognition standards between U.S. generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS) will become effective for annual reporting periods beginning after December 15, 2017. Public companies should consider the impact the new standards will have on financial statements required in a registration statement on Form S-3 or Form F-3. This client alert explains the issues that companies planning to file a new Form S-3 or Form F-3 should consider if they have elected to adopt the new revenue recognition standard using the full retrospective transition method.
The Shareholders' Rights Under the EU Directive N. 2017/828