Olshan Frome Wolosky LLP

Read it here! Olshan Frome Wolosky LLP's Advertising, Marketing & Promotions August 2024 Newsletter. #OlshanLaw #Newsletter #FTC #FDA #Cosmetics #Patents #AdvertisingAndMarketing https://lnkd.in/gzH4WSVu

Olshan Frome Wolosky LLP Corporate partner Spencer Feldman was quoted in a Bloomberg Law article on the proposal by Nasdaq, spurred on by an investor and published August 19, that would hasten the delisting process for many companies whose shares are trading under $1, the exchange’s latest move to tighten its listing regulations. “This would appear to be investor versus company in a battle that the SEC needs to step in and stop,” Spencer said. The proposed rule change would suspend companies from trading during a review process if they haven’t met the $1 requirement for more than 360 days. Additionally, the exchange would immediately send a delisting notice to any company whose stock price falls under the $1 within one year of a so-called reverse stock split. “In the current financial environment,” Spencer explained, “this is a very harsh and very hard way to deal with companies whose prices have dropped.” This approach ignores other metrics concerning a company’s health, when its stock price is depressed for external reasons. #OlshanLaw #Nasdaq #SEC #SecuritiesLaw https://lnkd.in/eZiiTFZ2

Andrew Lustigman, Olshan Frome Wolosky LLP’s Chair of the Advertising, Marketing & Promotions Group and Co-Chair of the Brand Management & Protection Group, and Claudia Dubon, a partner in the Corporate/Securities Group at the firm, published a column in the New York Law Journal regarding cosmetics labeling compliance requirements by the Modernization of Cosmetics Regulation Act of 2022 (MoCRA). Andy and Claudia also discuss several provisions that took effect on July 1. They say that more MoCRA regulations may be forthcoming, including good manufacturing practices (GMPs) for disclosing fragrance allergens in cosmetic product labeling and establishing and requiring standardized testing methods for detecting asbestos in talc-containing cosmetics. “MoCRA is arguably the most significant expansion of the FDA’s regulation of cosmetic products in decades,” they write. “Given the substantial and expanding compliance obligations, parties in the cosmetic space will need to be mindful of the enhanced regulation requirements to maintain compliance moving forward.” #OlshanLaw #NewYorkLawJournal #CosmeticsIndustry #FDA #FDALabels #ConsumerConcerns https://lnkd.in/ezT4HmAk

Not so long ago, foreign corruption prosecutions was the cause celebre of the U.S. Department of Justice (“DOJ”), with the DOJ quadrupling its staff and sharply increasing the number of Federal Bureau of Investigation (FBI) agents focused on the Foreign Corrupt Practices Act (“FCPA”) investigations and prosecutions over a more than 10 year period beginning in or about 2010. Numerous foreign and domestic individuals and companies were ultimately charged with violating this extraterritorial law, including individuals from Brazil (in Operation Lava Jato ), Norway, Africa and throughout Asia. However, since Russia’s invasion of Ukraine in February 2022, the FCPA has no longer been the primary foreign focus for cross border enforcement and has given way to an emphasis on foreign sanctions under the U.S. Department of the Treasury, Office of Foreign Assets Control (“OFAC”), most particularly the Russian Harmful Foreign Activities Sanctions issued under Executive Order 14024 and others beginning on February 23, 2022 and beyond. Since then, numerous blocked persons (“SDNs”) have been added to OFAC’s sanctions list on a frequent basis. Most recently, on June 12, 2024 and again on July 3, 2024, the Treasury and State Departments, through OFAC, together with the US Department of Commerce’s Bureau of Industry & Security (“BIS”) have doubled down on Russian sanctions, issuing fresh rounds of sanctions seeking to weaken the Russian “war time economy” and choke off the Russian financial system from the rest of the world, through clamping down further on Foreign Financial Institutions (“FFIs”) and on Information Technology (“IT”), sensitive technology and transportation. Read the entire Olshan Frome Wolosky LLP White Collar & Government Investigations blog post, "US Government Doubles Down on Russian Sanctions," authored by Olshan white collar litigation partner Robert Appleton #OlshanLaw #DOJ #FBI #FCPA #OFAC #Russia #Sanctions https://lnkd.in/e3YYc8CV

Olshan Frome Wolosky LLP Co-Managing Partner and Chair of the firm’s Shareholder Activism Practice Andrew Freedman participated in an episode of The Deal’s Activist Investing Today podcast entitled “Activist Investing Today: Freedman Talks Gildan Red Flags, Darden Similarities.” In conversation with The Deal’s Ronald Orol, Andy discussed Olshan client Browning West LP’s Historic Victory at Gildan Activewear, in which Browning West replaced Gildan’s entire board of directors and reinstated the company’s former CEO. #OlshanLaw #Podcast #ShareholderActivism https://lnkd.in/e_Hr6xyd

Andrew Lustigman, Olshan Frome Wolosky LLP’s Chair of the Advertising, Marketing & Promotions Group and Co-Chair of the Brand Management & Protection Group, and Morgan Spina, an associate at the firm, discuss strategies for avoiding legal pitfalls in automatic renewal programs in their latest article, "Avoiding Automatic Renewal and Cancellation Pitfalls," published in Bloomberg Law. They emphasize the importance of clear enrollment processes and easy-to-navigate cancellation paths, crucial for compliance with evolving state and federal regulations. "While companies await final FTC rulemaking and guidance, analyzing the FTC’s allegations against Adobe and Amazon can help mold a comprehensive compliance strategy," Andy and Morgan advise. #OlshanLaw #FTC #Ecommerce #ConsumerProtection #AutomaticRenewals #BloombergLaw #AdvertisingAndMarketing https://lnkd.in/erKiBV-k

Stephen Ferszt, Olshan Frome Wolosky LLP’s chair of the Employee Benefits Practice, is highlighted in a Bloomberg Tax article titled “Failing to Update Beneficiary Tax Forms Can Lead to Legal Battles." Recent court rulings emphasize the crucial need to regularly review and update beneficiary designations for retirement plans, life insurance and other financial accounts. Steve underscores the importance of ensuring your beneficiary designations reflect your current wishes and align with your overall estate planning goals. “Regular review and updates to beneficiary designations, especially after major life events, is essential.” Steve writes. “Following a plan’s specific procedures for designating or changing beneficiaries is imperative. Consulting with legal and financial professionals can ensure beneficiary designations align with overall estate planning goals.” #OlshanLaw #EstatePlanning #BeneficiaryDesignations #ERISA #FinancialPlanning #RetirementPlanning #LegalAdvice #Insurance #WealthManagement #BloombergTax https://lnkd.in/ePJBNKpn

Thank you to Bloomberg Industry Group for publishing the latest article by Stephen Ferszt!

Thank you to the New York Law Journal for publishing the latest column by Olshan Frome Wolosky LLP Employee Benefits Practice Chair Stephen Ferszt and Tax and Personal Planning Associate Alexander G. Sánchez Figueroa! Beneficiary designations are often ignored in the wake of significant life events such as marriage, divorce, the birth of a child or death of a loved one. This article explains the importance of updating beneficiary designations on employer-sponsored retirement plans or group life insurance policy documents. “Adhering to the specific procedures set forth in the plan for designating or changing beneficiaries is not just a formality, but an essential step in ensuring that your assets are distributed according to your wishes,” the authors write. “Seeking guidance from legal and financial professionals will provide additional assurance that your beneficiary designations are aligned with your broader estate planning objectives." #OlshanLaw #NewYorkLawJournal #EmployeeBenefits #RetirementPlanning #EstatePlanning #Retirement https://lnkd.in/erZmBkWP

Olshan Frome Wolosky LLP Co-Managing Partner and Chair of the firm’s Shareholder Activism Practice Andrew Freedman will speak at an event co-hosted by Olshan and Goodmans LLP entitled “Activewear Activism: Decoding the Gildan Proxy Battle” on September 25 from 8:00 – 10:00 A.M. at Goodmans’ office in Toronto, Ontario. The event will feature discussions with the team behind the Gildan Proxy battle, which made headlines throughout North America this year. This landmark campaign, led by Browning West LP, is the most successful proxy contest in Canadian history and was driven by Browning West’s decisive leadership after Gildan's controversial CEO change. Bloomberg News’ Christine Dobby will moderate the session, in which Andy will be joined in discussion by: Jon Feldman, Partner and Head of Shareholder Activism Practice at Goodmans LLP; Peter Lee, Co-Founder and Partner at Browning West LP; Usman Nabi, Co-Founder and CIO at Browning West LP; and Julie Rosenthal, Partner at Goodmans LLP. #OlshanLaw #ProxyContest #ShareholderActivism https://lnkd.in/ezs7iiGV