Miami Lewis Brisbois Partners Todd R. Ehrenreich, Troy P. Cunningham, and David L. Luck recently won a defense summary judgment in a toxic-tort action pending in the U.S. District Court for the Southern District of Florida. See Vandestreek v. Lockheed Martin Corp., No. 6:21-cv-1570-RBD-DCI, 2023 WL 6396087, 2023 U.S. Dist. LEXIS 177550 (M.D. Fla. Sept. 27, 2023).

On October 26, 2022, the Securities and Exchange Commission (“SEC”) adopted Rule 10D-1 under the Securities Exchange Act of 1934 (“Exchange Act”) implementing section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), which required the SEC and the national securities exchanges to establish listing standards that require  publicly listed companies to adopt and comply with a “clawback policy” for the recovery of erroneously awarded incentive-based compensation paid to their executive officers. 

A recent decision out of the U.S. District Court for the Middle District of Pennsylvania brings promising news to freight brokers conducting business throughout the Third Circuit. In Michael Lee, et al. v. Golf Transportation, Inc., et al., Case No. 3:21-cv-01948 (M.D. Pa. Nov. 7, 2023) a magistrate judge presiding over the matter granted a motion for summary judgment in favor of a freight broker defendant on the basis that the common law tort claims levied against it were preempted by the Federal Aviation Administration Authorization Act (“FAAAA”), 40 U.S.C. § 14501(c)(1).

On October 18, 2023, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) suspended several Venezuela-related sanctions in response to a political agreement between the Maduro government and the Unitary Platform.

President Joe Biden signed an Executive Order on October 30, 2023 to guide the development of artificial intelligence. The Executive Order builds on previous voluntary commitments made by Big Tech and leading AI companies, as our previous alert reported. Two days later, on November 1, 2023, to coincide with Vice President Kamala Harris attending the “Safety Summit 2023” in London, the U.S. Department of Commerce announced the creation of the U.S. Artificial Intelligence Safety Institute (“USAISI").

On October 23, 2023, the European Commission issued a Frequently Asked Questions (“FAQ”) document clarifying the European Union’s (“EU”) blocking sanctions “50% Rule.” The FAQ applies specifically to subsidiaries of the 13 Russian entities currently subject to blocking sanctions under Annex XIX to Council Regulation 833/2014, including Russian energy, transportation, and technology companies Rosneft, Transneft, Rostec, KAMAZ, and Sovcomflot, among others.

On October 12, 2023, the G7 Price Cap Coalition (Australia, Canada, the European Union, France, Germany, Italy, Japan, the United Kingdom, and the United States) released an Advisory for the Maritime Oil Industry and Related Sectors (“Advisory”), outlining best practices for the maritime oil industry to ensure compliance with price caps on crude oil and petroleum products put in place by the G7, European Union, and Australia.