On December 20, 2022 3M, Inc. announced it would discontinue manufacturing of per and polyfluoroalkyl substances (“PFAS”) by the end of 2025. 3M is one of the world’s largest manufacturers of PFAS, accounting for $1.3 billion in annual sales revenue. 3M plans to scale down its PFAS manufacturing prior to the 2025 discontinuation date. PFAS…
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The Financial Industry Regulatory Authority (FINRA) is ramping up enforcement against registered representatives who violate the Best Interest Obligation of the SEC’s Regulation Best Interest (“Reg. BI”). In February 2023, FINRA announced that it had disciplined two New York-based registered representatives for violating Reg BI. Tony Cirella and Edward Scott Short, both of the Melville,…
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In Taylor Morrison of Texas, Inc. v. Skufca as Next Friend of KSX, the Supreme Court of Texas determined minor children who join their parents as plaintiffs in breach of contract claims based on construction defects in the home they resided in may be subject to arbitration clauses within the applicable purchase agreement based on…
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In Pulver v. Kane, 2022 WL 17327182 (D. Nev. Nov. 29, 2022), a Federal District Court in Nevada upheld the economic loss doctrine to preclude a contractor from asserting tort claims against design professionals in suits seeking to recover solely economic losses arising from residential construction. Pulver Construction Company (“Pulver”) contracted with the homeowners to…
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On February 1, 2023, a bipartisan group of United States Senators reintroduced a bill, entitled the “Workforce Mobility Act of 2023” (“the Act”). The Act proposes a nationwide ban on the majority of non-compete agreements and follows the recently proposed rule by the Federal Trade Commission (“FTC”). If passed, the Act would codify the use…
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On January 5, 2023, the Federal Trade Commission (“FTC”) proposed a rule to ban non-compete agreements between employers and workers. The proposed rule would prevent employers from requiring workers to agree to contract clauses that prevent the worker from seeking or accepting employment with another employer or operating a business after the conclusion of the…
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The statute of repose is a powerful defense for a design or construction professional, since most provide an absolute bar to claims filed outside the repose period. Tennessee’s statute of repose was recently found to apply to contractual indemnity claims, when the United States District Court for the Middle District of Tennessee granted summary judgment…
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In JPC Merger Sub LLC v. Tricon Enterprises, Inc., 2022 WL 17479912 (N.J. Super. Ct. App. Div. Dec. 7, 2022), the Appellate Division of the Superior Court of New Jersey upheld the enforceability of pay-if-paid provisions in subcontracts so long as the terms are “clear” and “unambiguous.” Pay-if-paid provisions mean a subcontractor gets paid by…
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The Supreme Court heard oral argument in Sackett v. Environmental Protection Agency on October 3, 2022. Sackett involves property owners challenging an EPA compliance order determining that a property on which the Sacketts intended to build a home was a wetland as defined in the Clean Water Act (CWA). Sackett v. U.S. Env’t Prot. Agency,…
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The Financial Industry Regulatory Authority (“FINRA”) has released its 2023 report regarding FINRA’s Examination and Risk Monitoring Program (the “Report”). FINRA’s intent is that the Report be an up-to-date, evolving resource which member firms can use to strengthen their compliance programs. This year’s Report addresses a materially broader range of topics than in prior years….
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