Last week, President Barack Obama signed the Defend Trade Secrets Act of 2016 (DTSA) into law.  The bill received overwhelming bipartisan support in Congress, passing in the House of Representatives by a vote of 410-2 and in the Senate by a vote of 87-0.  In a nutshell, The DTSA creates a federal private right of action for trade secret misappropriation under the federal Economic Espionage Act of 1996 (EEA), which provides for the federal criminal prosecution of trade secret...

On May 16, 2016, the U.S. Supreme Court issued its long-awaited opinion in Spokeo, Inc. v. Robins, a case raising the procedural question whether any and all violations of a federal statute are sufficient for a plaintiff to file a lawsuit in federal court (i.e., satisfy the “injury-in-fact” requirement for standing under Article III of the U.S. Constitution).  Reversing the Ninth Circuit’s ruling for the plaintiff, the majority declared that, although Congress has a vital “role in identifying and...

The new minimum salary level for the executive, administrative, and professional employee exemptions under the Fair Labor Standards Act (FLSA) will be $913 per week, or $47,476 per year, under final regulations that will be released on Wednesday, May 18, 2016, by the U.S. Department of Labor (DOL). This new salary threshold—which will become effective on December 1, 2016—more than doubles the current minimum salary level of $455 per week, or $23,660 per year, and will have a dramatic...

The Deal has once again recognized Orrick as a Top Ten Bankruptcy Law Firm in its Q1 2016 Bankruptcy League Tables. After being named to the top ten in each quarter last year, Orrick extended the streak by gaining one spot in the rankings (now #7). During a busy Q1 period, Orrick advised several clients on a diverse blend of bankruptcy matters, with a particular emphasis in the areas of distressed energy, municipal debt and cross-border restructurings. The Deal’s Bankruptcy League...

The retail sector has been the subject of grim headlines since the recession. Lately, Sears, JC Penney, Sports Authority, Macy’s, Aeropostale et al. have announced either more store closures or total liquidation. There have been some heavy losses on regional malls in secondary and tertiary markets while Ecommerce has dramatically changed and will continue to shape the industry. The oft-scorned millennial generation spends more on rent and student debt than consumer goods. They also prefer to shop, and do pretty...

Companies must address financial reporting problems fast – or face the wrath of an invigorated SEC. The number of enforcement actions taken against companies rose in 2015. Regulators are increasing their focus on internal controls and whether companies have sufficient programs in place to detect potential wrongdoing. The increase in activity may be attributed in large part to the greater number of tools that are available to the Securities and Exchange Commission (SEC). For example, the SEC has increased its...

On May 11, 2016, President Barack Obama signed into law the long-awaited Defend Trade Secrets Act of 2016 (DTSA), which is effective immediately. Three key features of the DTSA include: (1) the creation of a federal private right of action for trade secret misappropriation; (2) a provision permitting ex parte civil seizure of property necessary to prevent the propagation or dissemination of trade secrets; and (3) a requirement that employers provide notice to employees of their immunities under the...

Partners Gerhard Gispen and Christiaan Zijderveld and their team recently moved to Houthoff Buruma from Simmons & Simmons. Their appointment strengthens Houthoff Buruma's leading position in the field of insolvency and restructuring. First tier firm The Insolvency & Restructuring practice of Houthoff Buruma has been ranked as First Tier firm in the 2016 editions of Chambers Europe, Legal 500, and IFLR1000. Gerhard Gispen has extensive experience with cross-border insolvency cases. He advises creditors (banks, funds and credit insurers) and (national and foreign)...