On December 11, 2024, the Fifth Circuit Court of Appeals vacated the Securities Exchange Commission’s (“SEC”) approval of Nasdaq’s board diversity rules, finding the SEC lacked statutory authority to approve the rules.

The California Court of Appeal recently reversed a judgment entered in favor of real estate brokers who were sued for breaching their fiduciary duties in connection with the sale of residential real estate in Malibu. The Court of Appeal found the trial court erred when it rendered judgment in favor of the brokers on the basis that the plaintiff lacked standing to pursue claims that had been assigned to her. The trial court reasoned that claims for breach of fiduciary duty against real estate brokers are highly personalized tort causes of action, which cannot be assigned. The Court of Appeal disagreed. In a case of first impression, it held that a cause of action for breach of a real estate broker’s fiduciary duties, which seeks damages related to property rights and pecuniary interests, is assignable.

The U.S. Department of the Treasury's Office of Foreign Assets Control (“OFAC”) recently issued a series of General Licenses, including Russia-related GL 53A, Russia-related GL 55C, Russia-related GL 113, and Russia-related GL 114.

On Jan. 15, the Supreme Court unanimously reversed the Fourth Circuit Court of Appeals and held that employers claiming exemptions for their employees from the Fair Labor Standards Act's requirements only need to prove the exemption by the “default” preponderance-of-the-evidence standard, rather than any heightened pleading requirement.

It has been a whirlwind of new Illinois employment laws in 2024. With several key updates taking effect on January 1, 2025, employers should take note of the following developments to stay compliant.

While 2024 was a quiet year in the Buckeye State on the labor and employment front, there were a few developments worth noting.

In Part 1 of his 20th annual listing of key Delaware commercial and corporate decisions, Wilmington Managing Partner Francis G.X. Pileggi explores several of the most significant rulings from the Delaware Supreme Court and Court of Chancery in 2024.

On January 6, 2025, the Office of Foreign Assets Control (“OFAC”) issued General License No. 24 relating to the Syria sanctions framework. General License 24 permits considerable transactions with Syrian-based individuals and entities, but the largest shift is that it also permits transactions with governmental entities controlled by designated individuals and entities. General License 24 expires on July 7, 2025, but can be renewed or even terminated earlier. The issuance of General License 24 follows the end of the rule of the Assad Regime following a military offensive by the FTO-designated Hay’at Tahrir al-Sham (“HTS”), and the capture by HTS of Syria’s governing institutions and entities.