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Supreme Court Holds Pharmaceutical Sales Reps Are Exempt
The U.S. Supreme Court's recent decision in Christopher v. SmithKline Beecham Corp., No. 11-204, 2012 U.S. LEXIS 4657 (2012), was not only a landmark decision for the pharmaceutical industry, but also provided important guidance for the application of the outside sales exemption in other settings, the interpretation of all FLSA exemptions, and the deference to be given the Department of Labor's interpretation of its own guidelines.
Over the past several years, wage and hour litigation has exploded as employees have increasingly challenged whether their employers have properly classified them as exempt from the minimum wage and 40-hour overtime standards under the Fair Labor Standards Act (FLSA), 29 U.S.C. ” 201 et seq. The risk of improperly classifying employees can be significant because employers who fail to pay overtime properly may be liable for double the amount due for the past two years, plus the employees' attorney fees. If the violation is found to be “willful,” the statute of limitations increases to three years.
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Supreme Court Rules Rejection of Trademark License Does Not Rescind Rights of Licensee
Mission Product Holdings, Inc. v. Tempnology, LLC The question is whether a debtor's rejection of its agreement granting a license "terminates rights of the licensee that would survive the licensor's breach under applicable nonbankruptcy law."