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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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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The United States Supreme Court recently held that emotional distress damages are not recoverable in private actions to enforce statutes authorized by the Spending Clause of the United States Constitution. Cummings v. Premier Rehab Keller, P.L.L.C., No. 20-219 (Apr. 28, 2022). Statutes authorized by the Spending Clause include the Rehabilitation Act, Title IX of the…
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FINRA released Notice 21-43 which answered frequently asked questions about Restricted Firm Obligations. Rule 4111, or Restricted Firm Obligations, became effective on January 1, 2022, and sets additional requirements for broker-dealers with a significant history of misconduct. Rule 4111 requires member firms that are identified as Restricted Firms deposit cash or qualified securities in a…
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In ACE American Insurance Co. v. AERCO International, Inc., 2022 WL 814788 (E.D. Mo., March 17, 2022), the United States District Court for the Eastern District of Missouri held the absence of privity of contract and the economic loss doctrine do not bar a contractor’s contribution claim against an architect and its subconsultant. Walsh Construction…
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The Seventh Circuit recently held an employer’s rescission of an employment offer upon learning the prospective employee suffered from uncontrolled seizures did not violate the Americans with Disabilities Act (“ADA”). Russell Pontinen (“Pontinen”) applied to work as a Utility Person at United States Steel Corporation’s (“USS”) Midwest Plant and received a contingent employment offer. After…
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In LEN-CG S., LLC v. Champions Club Condo. Ass’n, Inc., No. 5D21-1294, 2022 WL 980910 (Fla. Dist. Ct. App. Apr. 1, 2022), Florida’s Fifth Circuit Court of Appeals recently reversed a trial court’s decision to deny a developer’s and contractor’s motion to compel arbitration. The Court of Appeal held the arbitration provision in the condominium…
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In Glynn Env’t Coal., Inc. v. Sea Island Acquisition, LLC, 26 F.4th 1235 (11th Cir. 2022), environmentalist Jane Fraser (“Fraser”) alleged that Sea Island Acquisition, LLC (“Sea Island”) filled wetlands with outside materials, diminishing her aesthetic interest in recreation and enjoyment of the natural beauty of the wetland. The Eleventh Circuit Court of Appeals held…
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In Bd. of Regents of Nevada Sys. of Higher Educ. on Behalf of Univ. of Nevada, Reno v. Worth Grp. Architects, P.C., 499 P.3d 1177 (Nev. 2021), the Nevada Supreme Court held a Plaintiff’s non-indemnity claims against an architect were not preempted by the Americans with Disabilities Act (“ADA”). The University of Nevada, Reno (“UNR”)…
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In Hernandez, et al., v. CGI Windows and Doors, Inc., No. 3D20-1318, 2022 WL 610122 (Fla. Dist. Ct. App. Mar. 2, 2022), Florida’s Third District Court of Appeal reversed a jury verdict in favor of a window supplier and remanded the case for a new trial. The Court of Appeal held the trial court abused…
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