On January 14, 2025, the first part of the Federal Trade Commission’s (“FTC”) update to the Negative Option Rule went into effect. Negative options are contract terms that allow a seller to interpret a customer’s silence or failure to affirmatively cancel an agreement as a tacit acceptance of a renewal option—thereby creating automatically renewing contracts.
Vedder Price PC
Vedder Price and our 300-plus lawyers serve a global client base from offices in Chicago, New York, Washington, DC, London, San Francisco, Los Angeles and Singapore. We deliver high-value, best-in-class legal counsel in the areas of M&A/private equity, banking and commercial finance, complex litigation, executive compensation, employment law, investment management and other business-critical corporate matters.
Website:
https://www.vedderprice.com/
Latest from Vedder Price PC - Page 2
FTC and DOJ Affirm Commitment to Biden-Era Merger Guidelines
Federal Trade Commission Chairman Andrew Ferguson announced to FTC staff on February 18 that the FTC would retain the 2023 Merger Guidelines as the framework for reviewing mergers and acquisitions. Citing the need for stability between presidential administrations, Chairman Ferguson rejected calls to set aside the 2023 Merger Guidelines to draft new ones or reinstate…
Acting NLRB General Counsel Pulls Back Memoranda
Treasury Secretary Bessent Taps Rodney E. Hood to Lead the OCC
On February 10, 2025, Rodney E. Hood, the former Chairman of the National Credit Union Administration (“NCUA”), assumed the role of First Deputy Comptroller at the Office of the Comptroller of the Currency (the “OCC”). By operation of law, Mr. Hood thereby succeeded Michael J. Hsu as Acting Comptroller of the Currency under 12 U.S.C.…
DOL Provides Further FLSA Guidance Regarding Manager and Supervisor Participation in Tip Pools
On January 14, 2025, the U.S. Department of Labor (DOL) issued another opinion letter (FLSA2025-1) reiterating its position that managers and supervisors are prohibited from participating in a tip pool under any circumstance.…
Illinois Supreme Court: Increased Risk of Harm Arising from a Data Breach Is Insufficient to Confer Standing
On January 24, 2025, the Illinois Supreme Court ruled in Petta v. Christie Business Holding Co., P.C., 2025 IL 130337, that a patient who alleged an increased risk of harm arising from a data breach at a medical clinic did not suffer an injury in fact sufficient to confer standing.…
DOL Clarifies that Leave Taken Under State Paid Family Leave Programs May Run Concurrently with FMLA Leave
SEC Enforcement Highlights for Fiscal Year 2024
On November 22, 2024, the Securities and Exchange Commission (the “SEC” or “Commission”) announced its enforcement results for the fiscal year (“FY”) 2024. Though the SEC filed only 583 total enforcement actions in FY 2024—a decline of 26% from the 784 enforcement actions filed in FY 2023—the Commission obtained a record-setting $8.2 billion in financial…
DOJ and FTC Release Replacement Human Resources Guidelines to an Uncertain Future
Days before President Trump’s inauguration, the Federal Trade Commission (FTC) and Antitrust Division of the U.S. Department of Justice (DOJ) replaced their Antitrust Guidance for Human Resources Professionals (“2016 Guidance”), which had been in place since 2016. The Antitrust Guidelines for Business Activities Affecting Workers covers similar ground as the prior guidance, but expands its…
FTC Secures Record Gun-Jumping Penalty in a Case with Several Lessons for Merging Parties
The Federal Trade Commission (FTC) secured a record consent penalty of $5.6 million against two merging parties on January 7, 2025 for improper pre-merger coordination, marking the agency’s first gun-jumping action in over a quarter century. Verdun Oil Company and XCL Resources Holdings had agreed to acquire EP Energy LLC in a transaction requiring prior…