In Donovan v. Hastings, the Supreme Court of Tennessee analyzed whether the trial and appellate courts properly limited an award of attorney fees and costs under Tennessee Code § 20-12-119(c) to a plaintiff homeowner to those incurred after the date an amended countercomplaint was filed by the defendant contractor. 2022 WL 12301177, at *1 (Tenn….
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In Cal-Am Properties Inc. v. Edais Eng’g Inc., 509 P.3d 386, 388 (Ariz. 2022), the Arizona Supreme Court held design professionals are not liable for economic damages incurred by a Plaintiff with whom they are not in privity of contract. Cal-Am Properties, Inc. (“Cal-Am”) was a developer and operator of RV and mobile-home parks. Cal-Am…
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FINRA has announced Merrill Lynch, Peirce and Finner & Smith, Inc. was fined more than $15.2 million for restitution owed to customers who purchased Class C mutual funds shares despite the availability of Class A mutual fund shares. In differentiating between the two types of mutual fund shares, FINRA noted Class A shares are subject…
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On June 6, 2022, the United States Supreme Court issued a decision that certain airline employees are exempt from the Federal Arbitration Act (“FAA”), as they are considered to be a “class of workers engaged in foreign or interstate commerce”. See Southwest Airlines Co. v. Saxon, No. 21-309 (June 6, 2022). The FAA exempts “contracts…
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On June 15, 2022, the U.S. Environmental Protection Agency (EPA) released new drinking water health advisories for per- and polyfluoroalkyl substances (PFAS). The EPA also announced $1 billion in funding to address PFAS and other emerging contaminants in drinking water. PFAS have been linked to infertility, thyroid problems, and several types of cancer. Since the…
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The Securities and Exchange Commission has proposed new regulations that could be disruptive to Financial Advisors. There are currently 12 proposals and 26 more being discussed. One such proposal seeks to address the practice of “greenwashing”, which refers to firms or companies claiming to abide by ESG principles when they are actually not. The proposed…
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In A. Alexis Varela, Inc. v. Pagio, No. 5D21-2077, 2022 WL 1592482 (Fla. Dist. Ct. App. May 20, 2022), the Florida Fifth District Court of Appeal reversed a trial court’s order dismissing a contractor’s lien foreclosure claim. The Court of Appeal stated that the trial court erred in computing the deadline for the contractor to…
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North Carolina’s Governor Roy Cooper signed Session Law 2022-1 early 2022, which amended and revised North Carolina statutes applicable to public construction projects within the state. Beginning March 1, 2022, the amendments and revisions went into effect, which serve to clarify and update the statutory provisions relevant to the design-build public contracting process. Changes to…
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On May 5, 2022, Attorney General Merrick Garland and EPA Administrator Michael Regan released a memorandum entitled: “Actions to Advance Environmental Justice.” The memorandum from the Office of the Attorney General announces three actions to “secure environmental justice for all Americans.” First, the Justice Department issued a comprehensive environmental justice enforcement strategy to guide the…
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FINRA has announced that it has fined Wefunder and StartEngine Capital for failure to comply with various securities rules and laws designed to protect crowdfunding investors. Wefunder was fined $1.4 million for violations that occurred from 2016 to 2021. FINRA found the company exceeded the scope of its permitted activities by raising $20 million in…
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