Latest From Skadden

  • US Supreme Court Strikes Down Ban of ‘Scandalous’ Trademarks
    Skadden, Arps, Slate, Meagher & Flom LLP
    Anthony J. Dreyer, Jordan Feirman
    On June 24, 2019, the U.S. Supreme Court ruled in Iancu v. Brunetti that Section 2(a) of the Lanham Act’s ban on the registration of “immoral” or “scandalous” trademarks violates the First Amendment. The court’s decision was largely anticipated by commentators following the 2017 Tam decision and may, in the short term, result in an influx of new trademark applications containing obscene and vulgar terms.
  • Supreme Court Declines to Further Define Morrison’s Domestic Transaction Requirement
    Skadden, Arps, Slate, Meagher & Flom LLP
    Jay B. Kasner, Scott D. Musoff
    The U.S. Supreme Court today denied the petition for certiorari in Toshiba Corp. v. Automotive Industries Pension Trust Fund, leaving open the question of the appropriate scope of the “domestic transaction” requirement of the Securities Exchange Act that the Court established in Morrison.
  • Director Independence and Oversight Obligation in Marchand v. Barnhill
    Skadden, Arps, Slate, Meagher & Flom LLP
    Peter A. Atkins, Paul J. Lockwood
    On June 18, 2019, the Delaware Supreme Court issued a decision in Marchand v. Barnhill, et al. reversing the lower court's dismissal of a derivative suit alleging Caremark claims. The decision highlights the importance of ensuring that a company implements effective board-level monitoring and compliance procedures as well as documents those efforts in its board records.