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Articles by Steven A. Richman
Courts Limit Environmental Federal Constitutional Claims as State Rights Evolve
On September 4, 2026, the Fifth Circuit Court of Appeals in Sterling v. City of Jackson, Docket No. 24-60370, held that there is neither a federal constitutional right to be free from exposure to contaminated water nor a right to accurate information from public officials. The Sterling case joins a string of case outcomes adjudicating constitutional rights to clean or safe environmental conditions at the state and federal levels.
Arbitration and ESG Disputes: Revisiting the Hague Rules Post-Cisco SCOTUS Decision
The U.S. Supreme Court’s recent decision in Cisco Systems, Inc. v. Doe, 609 U.S. ___ (2026), narrows one path for human rights litigation in U.S. federal court. The Court held that the Alien Tort Statute (ATS) does not authorize courts to create new causes of action for violations of international law and rejected aiding-and-abetting theories under both the ATS and the Torture Victim Protection Act (TVPA).
Updated Guidance On NAV-Based Facilities For Private Equity Strategies
SS Seyfarth Shaw LLP More With more than 900 lawyers across 18 offices, Seyfarth Shaw LLP provides advisory, litigation, and transactional legal services to clients worldwide. Our high-caliber legal representation and advanced delivery capabilities allow us to take on our clients’ unique challenges and opportunities-no matter the scale or complexity.
Updated Guidance on NAV-Based Facilities for Private Equity Strategies | JD Supra
Net Asset Value (NAV)-based financing facilities (“NAV Facilities”) continue to proliferate in private equity. In response, the Institutional Limited Partners Association (ILPA) released comprehensive new guidance making the case for transparency, governance, and risk management to be fundamental considerations in the incurrence and deployment of NAV Facilities.
The SEC’s New Private Fund Adviser Rule Comes Under Early Attack | JD Supra
The U.S. Securities and Exchange Commission (SEC) is engaged in new litigation following the introduction of the Private Fund Adviser (PFA) Rule. Designed to bolster transparency and competition within the private funds industry, the PFA has garnered both support and opposition (and, in any event, significant discussion from both sides). The private funds sector, responsible for managing an estimated $20 trillion in assets, has been under the microscope for its practices for some time.
The SEC's New Private Fund Adviser Rule Comes Under Early Attack
The U.S. Securities and Exchange Commission (SEC) is engaged in new litigation following the introduction of the Private Fund Adviser (PFA) Rule. Designed to bolster transparency and competition within the private funds industry, the PFA has garnered both support and opposition (and, in any event, significant discussion from both sides). The private funds sector, responsible for managing an estimated $20 trillion in assets, has been under the microscope for its practices for some time.
An Early Glimpse into the SEC’s Private Funds Advisor Rule | JD Supra
The Securities and Exchange Commission (SEC) has adopted the long awaited “Private Fund Adviser Rule” (the “PFA”). The proposed PFA was introduced on February 9, 2022 (“Proposed Rule”), and the SEC has been working with the General Partner and Limited Partner communities over the past 16 months or so to finalize the rule.
An Early Glimpse Into The SEC's Private Funds Advisor Rule
The Securities and Exchange Commission (SEC) has adopted the long awaited "Private Fund Adviser Rule" (the "PFA"). The proposed PFA was introduced on February 9, 2022 ("Proposed Rule"), and the SEC has been working with the General Partner and Limited Partner communities over the past 16 months or so to finalize the rule.
Supreme Court Sustains Viability of Pennsylvania's Foreign Registration Corporation Statute | JD Supra
On June 27, in Mallory v. Norfolk Southern Railway Co., 2023 WL 4187749 (2023), the Supreme Court vacated and remanded the Pennsylvania Supreme Court decision to the contrary, and upheld a Pennsylvania foreign corporation registration statute that required consent to general personal jurisdiction as a condition of granting registration in Pennsylvania, essentially rejecting the argument that such a statute violated the due process clause of the Fourteenth Amendment.
Business and Human Rights: Immediate, Practical Considerations for Companies | JD Supra
The focus on “responsible business conduct” continues to grow—from the U.S. State Department updating and revitalizing the 2016 National Action Plan on Responsible Business Conduct (NAP RBC), to the Japanese Ministry of Economy, Trade, and Industry planning to adopt the Draft Guidelines on Respect for Human Rights in Responsible Supply Chains, and more.
Supreme Court Resolves Section 1782 Application | JD Supra
On June 13, the United States Supreme Court in ZF Auto. US, Inc. v. Luxshare, Ltd., No. 21-401, 2022 WL 2111355 (U.S. June 13, 2022) resolved a disagreement among the circuits and held that Section 1782 does not apply to private arbitration.
An Early Glimpse into the SEC’s Private Funds Advisor Rule
The Securities and Exchange Commission (SEC) has adopted the long awaited “Private Fund Adviser Rule” (the “PFA”). The proposed PFA was introduced on February 9, 2022 (“Proposed Rule”), and the SEC has been working with the General Partner and Limited Partner communities over the past sixteen months or so to finalize the rule.
Second Circuit Refines Its Fair Use Test | JD Supra
In 2013, the Second Circuit issued its controversial decision in Cariou v. Prince, 714 F.3d 694 (2nd Cir. 2013), in which it “rejected the proposition that a secondary work must comment on the original in order to qualify as fair use.” Eight years later, in Andy Warhol Foundation for the Visual Arts, Inc. v. Goldsmith, --F.3d – (2nd Cir.
Certain Senior Living Facilities Can Elect Out Of The Business Interest Limitation
To print this article, all you need is to be registered or login on Mondaq.com. Seyfarth Synopsis: On December 29, 2020, the Internal Revenue Service issued Revenue Procedure 2021-9 (the “Procedure”), which provides a safe harbor that allows the owner or operator of certain senior living facilities (a “Nursing Business”) to elect out of a limitation on the amount of “business interest” that the Nursing Business can deduct each year.
Certain Senior Living Facilities Can Elect Out of the Business Interest Limitation | JD Supra
Seyfarth Synopsis: On December 29, 2020, the Internal Revenue Service issued Revenue Procedure 2021-9 (the “Procedure”), which provides a safe harbor that allows the owner or operator of certain senior living facilities (a “Nursing Business”) to elect out of a limitation on the amount of “business interest” that the Nursing Business can deduct each year.
10-Point Checklist for Issuing and Responding to Force Majeure Notices | JD Supra
With the spread of COVID-19 and executive orders and other laws effectuating lockdowns, closures, and rules against multi-person assemblies, many entities are issuing notices claiming excuse for non-performance based on contractual force majeure clauses. This alert highlights essential factors to be considered before sending or responding to such notices, including the potential risk of misfiring on a legally deficient force majeure notice.
Jingle Bells Jazz by Mike Black
135 Songs 2:31 4:52 * New subscribers only. Plan automatically renews after trial.
The New Mediation Convention | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
Supreme Court Narrows Availability of Class Arbitration | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
UBIT May Be In Your Future
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Be careful what you ask for in Clinton-Trump tax reforms
Politicians love a good sound bite. They are short, memorable and, more often than not, easily understood. When candidates or commentators discuss immigration, the second amendment, or any of a host of other topics, we (that is, the general public) usually have a pretty good grasp of the relevant buzzwords and topic du jour, at least enough to make an informed decision as to what we believe and whom we want to support.
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