Read Business Law Update to stay up to date on legal issues that impact public and private companies on a local, national and global basis. Articles in this issue include:
Business Perspectives
In this edition of Business Perspectives, Frank Chaiken, Corporate Transactions & Securities practice group leader, reflects on the ever-changing array of global and regional factors affecting the business world. Continue reading.
Cybersecurity
See No Evil, Speak No Evil, Then Pay the Piper: Be Ready for the Worst-Case Results in Cybersecurity
The New York State Department of Financial Services (DFS) reached a settlement in October with EyeMed Vision Care, which includes a $4.5 million fine for violating the DFS’s Cybersecurity Regulation (23 NYCRR Part 500). Considered alongside the DFS’s recently proposed second amendment to the Regulation, which would, among other things, increase accountability for cybersecurity at the board and C-suite levels, the settlement underscores the importance of proactively implementing effective cybersecurity and data privacy policies and programs. Read more.
Environmental/ESG
Rise in Greenwashing Cases: What Companies Need to Know
“Greenwashing” cases are on the rise across a variety of industries. These lawsuits are often initiated by environmentally conscious consumers who believe certain companies are misleading customers with hollow representations about their commitments to sustainability. In this article, we discuss recent cases and offer risk mitigation measures for companies to consider. Continue reading.
Foreign Investment
Biden Issues Executive Order to Focus the Consideration of National Security Factors in the CFIUS Review Process
In September, President Biden issued an executive order to elaborate upon existing statutory factors and include additional national security factors that the Committee on Foreign Investment in the United States (CFIUS) must consider in its review of covered transactions. The order does not change CFIUS’s review process or legal jurisdiction, but it must be considered in conjunction with the national security factors already set out in the CFIUS’s authorizing statute. Read more.
Labor & Employment
In the Weeds: Marijuana Legalization and Drug Testing at Work
Drug testing has been a staple of the hiring process for decades, but the web of state and federal statutes governing marijuana use – both medical and recreational – remains in flux. If your company does business in a state that has legalized marijuana use under state law, for medical or recreational use, then now is a good time to revisit existing workplace drug policies. Continue reading.
