On Monday, December 23rd, a federal appeals court issued a ruling reinstating reporting requirements under the Corporate Transparency Act (“CTA”), with the Treasury Department’s FinCEN extending key deadlines to accommodate the recent legal uncertainty.
Last week, the US District Court for Eastern District of Texas ruled on reporting under the Corporate Transparency Act, issuing a nationwide injunction against its enforcement. The CTA otherwise required entities to report Beneficial Ownership Information on or before January 1, 2025. While this injunction is not permanent, we will suspend filings for companies until the injunction is overturned on appeal.
Kotz Sangster Wysocki P.C., a leading business law firm based in Detroit, has announced that attorney Douglas Eyre has joined the firm in its Detroit office. Eyre is a seasoned attorney, bringing over 20 years of experience in construction law and commercial litigation to the firm.
The U.S. Supreme Court issued a significant decision for employers on May 21, 2018. In Epic Systems Corp v. Lewis, the Court held employee arbitration agreements may lawfully prohibit group or class action arbitration claims brought by multiple employees. This holding is important because, as the Court noted, group or class actions can unfairly pressure employers to settle weak claims. Although Epic involves a Fair Labor Standards Act claim, the case will likely be extended to cover other types of employment claims.
In sum, many employers see potential benefits in pre-dispute employment arbitration agreements, such as jury avoidance, shorter claim limitation periods, expedited process and lower costs. Epic Systems has added another valuable protection for employers to consider – written waivers of group or class action claims.