SEC Adopts Long-Awaited Final Climate Disclosure Rules
Hunton Retail Law Resource | Retail Industry Lawyer & Attorney
by Hunton Andrews Kurth LLP
2d ago
On March 6, 2024, by a party-line vote of 3-2, the US Securities and Exchange Commission (SEC) adopted final rules (entitled “The Enhancement and Standardization of Climate-Related Disclosures for Investors”) requiring most public companies to disclose climate-related information in registration statements and annual reports filed with the SEC. The SEC first proposed climate disclosure rules in March 2022, and the proposal has been a source of much debate and controversy, generating over 24,000 comment letters, more than any regulation in the history of the SEC ..read more
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The Legislation Enacting Virginia’s New Class Action Statute Should Be Amended to Protect Virginia Businesses From In Terrorem Statutory Damages
Hunton Retail Law Resource | Retail Industry Lawyer & Attorney
by Thomas R. Waskom
2w ago
Virginia is currently one of just two states, along with Mississippi, without state-court class actions. But in the most recent legislative session, the General Assembly passed Senate Bill 259, which would create a class action mechanism in Virginia state courts. Under Virginia law, the governor can sign the bill, veto it, do nothing (which permits it to become law)—or he can propose amendments to the bill, which would then be sent back to the General Assembly at the “veto session” in April. The governor could veto the bill—or, in the alternative, he could propose an amendment to protect ..read more
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New USPTO AI-Assisted Invention Guidance Will Affect Retailers and Consumer Goods Companies
Hunton Retail Law Resource | Retail Industry Lawyer & Attorney
by Steven L. Wood and Jeremy C. King
1M ago
In our client alert, A Brief Explanation of the USPTO’s Useful New AI-Assisted Invention Guidance, we discuss the Inventorship Guidance for AI-assisted Inventions, 89 Fed. Reg. 10043 (Feb. 13, 2024), recently released by the US Patent and Trademark Office (USPTO). The guidance provides inventors and patent applicants with a framework regarding AI-assisted inventions and how inventorship of such will be judged at the USPTO. Why should a retailer care? Consumer goods producers use patents as one tool in their intellectual property toolbox to protect their products, company, and brand. This guida ..read more
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Does Being “Left to Guess” Establish Standing for Injunctive Relief After TransUnion?
Hunton Retail Law Resource | Retail Industry Lawyer & Attorney
by Aidan Gross and Jamie Zysk Isani
1M ago
In recent years, consumers filed a spate of class actions claiming that retailers misrepresented the retail price on discounted goods to mislead consumers into thinking they were obtaining a bargain. Many of those cases settled or were dismissed for lack of injury because plaintiffs failed to allege that the purchased item was deficient in an objectively identifiable way. The dismissal of one such class action against Eddie Bauer, however, has remained on appeal for several years after the Ninth Circuit certified a question of statutory interpretation to the Oregon Supreme Court. The Oregon Su ..read more
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Illinois Court Says 7th Circuit Fumbled Illinois Law in BIPA Decision
Hunton Retail Law Resource | Retail Industry Lawyer & Attorney
by Hunton Andrews Kurth LLP
1M ago
Companies face significant exposure from privacy related claims. An increasing number of these claims result from efforts at the state level to regulate use of personal data. One key focus is Illinois’ Biometric Information Privacy Act (“BIPA”), but as lawmakers in other states continue to introduce legislation aimed at regulating the use of biometric data, more court decisions may muddy the waters regarding what conduct may be covered under a general liability policy. Coverage disputes involving BIPA exposure are arising with increasing frequency, and courts do not always see eye to eye, as s ..read more
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2023 Retail Industry Year in Review
Hunton Retail Law Resource | Retail Industry Lawyer & Attorney
by Hunton Andrews Kurth LLP
1M ago
Our 2023 Retail Industry Year in Review provides a comprehensive overview of recent developments, issues, and trends impacting retailers, as well as a look ahead at what to expect in 2024. We hope you will take a few minutes to review our new publication released last week ..read more
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More Employees! New Rule Makes It Harder to Classify Workers as Independent Contractors
Hunton Retail Law Resource | Retail Industry Lawyer & Attorney
by Aidan Gross and Juan C. Enjamio
1M ago
On January 10, 2024, the US Department of Labor (DOL) issued the “Final Rule” that modifies the standard for determining whether a worker is an employee or independent contractor under the Fair Labor Standards Act (FLSA). The Final Rule will take effect on March 11, 2024. Background: Under the FLSA, all covered entities—businesses involved in interstate commerce with a gross volume of sales more than $500,000—must pay all “nonexempt employees” the federal minimum wage and overtime pay for all hours worked over 40 in a workweek. Additionally, covered entities must maintain certain records for a ..read more
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FTC Announces $2 Million Penalty Against Tractor Maker for False “Made in USA” Product Claims
Hunton Retail Law Resource | Retail Industry Lawyer & Attorney
by Phyllis H. Marcus and Nicholas Drews
2M ago
On January 26, 2024, the FTC announced that it had entered into an agreement with tractor maker Kubota North America Corporation, settling allegations that Kubota falsely labeled some of its replacement parts as “Made in USA” despite manufacturing those parts entirely overseas. The FTC’s complaint was filed along with a consent order that requires Kubota to pay a $2 million civil penalty, the largest penalty ever assessed for violations of the FTC’s Made in USA Labeling Rule. The consent order also requires Kubota to comply with the FTC’s requirements for Made in USA claims. According to the F ..read more
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EU Corporate Sustainability Due Diligence Directive Nearly Final
Hunton Retail Law Resource | Retail Industry Lawyer & Attorney
by Hunton Andrews Kurth LLP
2M ago
On December 14, 2023, the European Parliament and the European Council reached a provisional deal on the Corporate Sustainability Due Diligence Directive (CS3D). Initially proposed by the European Commission in February of 2022, the CS3D requires certain companies to account for and mitigate adverse human rights and environmental impacts throughout their supply chains, including both their own operations as well as upstream and downstream activities. In November 2022, the European Council adopted the general approach proposed by the European Commission. Since then, the Council and the European ..read more
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New York Law Targets Hidden Credit Card Fees
Hunton Retail Law Resource | Retail Industry Lawyer & Attorney
by Phyllis H. Marcus and Katherine Pauly
2M ago
On December 13, 2023, New York Governor Kathy Hochul signed Senate Bill S1048A into law requiring sellers that impose credit card surcharges to post the total price, inclusive of the surcharge. In addition, the surcharge to customers may not exceed the amount of the surcharge charged to the business by the credit card company for such credit card use. Per the legislative history, “This bill is necessary to prevent consumers from being misled when making a purchase using their credits cards.” New York’s law, which goes into effect in mid-February, builds on efforts by the FTC and other states ..read more
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