Publications & Presentations
We encourage you to peruse this Publications & Presentations section for timely analysis and industry insights, including bylined articles, client alerts, white papers, practice and industry newsletters, audio and video broadcasts, featuring interviews with our lawyers, as well as case studies highlighting compelling legal challenges our clients have faced.
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Recent PublicationsView all Publications
A New U.S. Course for Cuba Relations: What Does It Mean for Business?
Authors: Christopher R. Wall, Stephan E. Becker, Nancy A. Fischer, Aaron R. Hutman, Stephanie J. Rohrer
President Obama made an unexpected announcement this week signaling a “new course” for Cuba after more than fifty years of comprehensive U.S. sanctions. Reestablishing diplomatic relations is a major change. In terms of business impact, however, the announcement signaled small openings and incremental extensions of existing licensing policy. Existing legislation mandates the embargo and codifies the Cuban Assets Control Regulations at 31 C.F.R. Part 515 (CACR), limiting what the President can accomplish without support from Congress. Thus, major changes to U.S. sanctions and export control policy will not happen in the short term. However, the President does have limited licensing discretion and the signaled changes may open business opportunities for certain exports markets including telecommunications, building materials, agricultural equipment, and certain goods for use by Cuban entrepreneurs. Simplification of existing travel authorizations as well as authorization for certain banking and credit card services are also planned. None of these anticipated changes will be effective until regulations are issued by the relevant U.S. agencies.
Ninth Circuit Court of Appeals Raises Pleading Standard for Securities Fraud Actions
Author: Bruce A. Ericson
Since the Supreme Court’s Dura Pharmaceuticals decision in 2005, courts of appeals have split as to what a party must do to plead loss causation—an element of a claim under SEC Rule 10b-5. Some courts have held that a party need only satisfy the notice pleading standard in Federal Rule of Civil Procedure 8. Other courts have held that a party must plead loss causation “with particularity” to satisfy Federal Rule of Civil Procedure 9(b). The Ninth Circuit has now joined the latter group, holding that loss causation—and indeed all elements of a 10b-5 claim—must satisfy the more exacting Rule 9(b) standard. Oregon Public Employees Retirement Fund v. Apollo Group Inc., No. 12–16624, 2014 WL 7139634 (9th Cir. Dec. 16, 2014).
Six Things to Know About Foreign Financial Asset Reporting
Author: C. Brian Wainwright
In the Federal Register for December 12, 2014, the Treasury Department and Internal Revenue Service published final regulations under Internal Revenue Code section 6038D, dealing with annual reporting by U.S. citizens and residents of specified foreign financial assets on IRS Form 8938, Statement of Specified Foreign Financial Assets. The final regulations replace temporary regulations published in the Federal Register on December 19, 2011.