A non-compete clause is a “contractual term between an employer and a worker that blocks the worker from working for a competing employer, or starting a competing business, typically within a certain geographic area and period of time after the worker’s employment ends.” This is the definition of a non-compete clause directly from the Federal Trade Commission (FTC). This year may finally be the year non-compete clauses bite the dust, however, after decades of organizing/effort by employees and labor...

Chicago – Cushman & Wakefield (NYSE: CWK) announced today that the Board of Directors has accepted John Forrester’s intent to retire from his position as Chief Executive Officer (CEO) and member of the Board of Directors, effective June 30, 2023, following 35 years of service to the company. As part of the Company’s long-standing succession plan, Cushman & Wakefield’s Board of Directors appointed Michelle MacKay, currently President and Chief Operating Officer (COO), to assume the role of CEO as of July...

In this week’s Roar: hopes for a second-half rebound, solid vessel reliability, a mixed bag in air cargo, removing drayage emissions, and meeting ocean sustainability goals. Looking at the current state of the economy, some things are trending positive for the second half of 2023. In fact, some feel that the only way is up. But a full supply chain recovery is still questionable. There were expectations that China’s reopening would unleash a tsunami of pent-up demand, but at this...

On May 3, 2023, the U.S. Securities and Exchange Commission adopted amendments (the share repurchase amendments) to its rules regarding disclosure of securities repurchase programs (also known as share buybacks) by companies and their affiliates. The amendments were initially proposed in December 2021 (see our previous alert) and were subject to two comment periods. According to the SEC release (the Adopting Release), the amendments are intended to provide investors with enhanced information to use in assessing the purpose and...

After many months of negotiations, members of the European Parliament (MEPs) have found a compromise on the flagship legislative proposal on Artificial Intelligence (AI), the AI Act.  The Act could become a global standard, similar to the GDPR which had major implications for firms worldwide. The European law on AI was proposed by the Commission in April 2021 and could become the first AI law by a major regulator worldwide. After the Commission published its proposal, EU ministers green-lighted a general...

The Court of Justice of the EU ("CJEU") has issued a landmark decision on the interpretation of Article 82 of the General Data Protection Regulation ("GDPR"): A mere breach of the GDPR is not sufficient for an award of material or non-material damages within the meaning of Art 82(1) GDPR; Non-material damage need not meet a certain degree of seriousness to be eligible for compensation; The amount of damages can be determined under domestic law in compliance with the...

The EU Digital Markets Act (DMA) regulates the economic power of larger platforms considered “gatekeepers” and imposes new rules to prevent such gatekeepers from engaging in unfair practices. The DMA entered into application on May 2, 2023, and organizations have until July 3, 2023 to assess whether they fall within its scope and need to notify the European Commission. Which organizations are subject to the Digital Markets Act (DMA)? The DMA applies to core platform services providers. Core platform services providers...

On April 26, 2023, the UK’s Competition and Markets Authority (CMA) blocked Microsoft’s $68.7 billion acquisition of Activision Blizzard over concerns the deal “would alter the future of the fast-growing cloud gaming market.”1 The deal was announced in January 2022 and would have been the industry’s largest ever. The U.S. Federal Trade Commission (FTC) is currently litigating to block the merger, arguing the deal would harm competition both in cloud gaming and consoles, while other regulators, including the European...