Legislation

Employer Alert: New Federal Limitations on Workplace Policies Involving Sexual Assault or Sexual Harassment Allegations

By Leni Plimpton       On November 16, 2022, Congress passed the Speak Out Act, S. 4524, prohibiting the enforcement of certain contract provisions that would “silence” people who claim to have suffered sexual assault or sexual harassment. President Biden is expected to sign the bill into law soon and it will take effect immediately. What does this act mean for employers? In short, the new law makes it so courts cannot

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Corporate Transparency Act – Beneficial Ownership Information Reporting

The Corporate Transparency Act (CTA) requires certain entities to submit beneficial ownership information (BOI) to the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). On September 29, 2022, FinCEN issued a final rule outlining who must file a BOI report, what information must be reported, and when a report is due. The rule will become effective January 1, 2024. Here’s what you need to know: Who: Reporting Companies The rule

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SEC’s Final Executive Compensation Clawback Rules

On October 26, 2022, the Securities and Exchange Commission (SEC) adopted new listing standards and rules to implement Section 954 (which added Section 10D to the Securities Exchange Act of 1934) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”). A link to the SEC final rule release is included at the end of this memorandum under the heading “References.” Consistent with Section 10D of

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3 Ways to Protect a Cannabis Business Partnership From Litigation

By David Olsky As the cannabis industry grows, it’s increasingly essential for business owners and investors to protect themselves from potential litigation. Partnership disputes, unsavory business practices and “off-the-books” backroom dealings abound, particularly in contrast to other, more mature, established industries. In a piece featured on MJBizDaily, Fortis partner and litigation expert David Olsky dispenses his three key pieces of advice for how businesses can protect themselves from bad actors,

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How to Survive the Upcoming Consolidation Boom in Cannabis Industry?

By Julie Herzog  As the cannabis industry matures, we are seeing a consolidation boom, with larger companies gobbling up smaller ones at an unprecedented rate. This is being driven largely by Big Pharma, who are eager to get their hands on this rapidly growing market. While this consolidation can be good for the industry as a whole, it can be difficult for smaller businesses to survive.  In order to effectively

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How Employers Can Combat Quiet Quitting

By Leni Plimpton The trend of “quiet quitting” has gotten a lot of media play and raised a lot of red flags among employers, who fear decreased productivity and lower quality of work. Employees are trying to find the balance between boundary-setting and fulfilling work responsibilities, and most employers agree that reducing stress and burnout are positive goals that should be welcome in the workplace. However, what happens when an

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Monkeypox Virus Offers Employers Opportunity to Deepen Protections for LGBTQ Employees

The recent monkeypox virus outbreak and discriminatory ties to the LGBTQ population should motivate employers to review and enhance company policies protecting their LGBTQ employees. The matter is particularly urgent given that anti-LGBTQ discrimination in the workplace is already a widespread problem.   In an article recently published on HR.com, Fortis attorney, Andrew Neiman, counsels outlines the five key steps every employer should take now to protect and support LGBTQ employees

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What is “Piercing the Corporate Veil” and Why Does Every Business Owner Need to Avoid It?

By Charlie Carlin, Fortis Law Partners Piercing the corporate veil is an important legal and business concept many entrepreneurs aren’t familiar with. Business owners put a lot of blood, sweat and tears into making their company successful. Hopefully, things go well, the company grows and is profitable. However, sometimes things go wrong, and the business gets sued. Unfortunately, many entrepreneurs don’t know they could personally end up on the hook

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Colorado’s New Non-Compete Law: 8 Key Takeaways

By Liz Hartsel Colorado’s Restrictive Employments Agreement Act (HB 22-1317) (the “Act”), became effective on August 10, 2022. It dramatically changes Colorado’s law regarding non-competition agreements, non-solicitation agreements, and confidentiality agreements relating to workers.   Here’s what you need to know and do now: Changes to Enforceability of Non-Compete Agreements Non-competes in Colorado remain void unless they fall within certain exemptions. The Act, however, changes those exemptions. For example, there is

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New Ruling Helps Clear Up Industry Confusion on the Matter of Delta-8 THC

By Michael Annerino On May 19, 2022, the United States Court of Appeals for the Ninth Circuit issued its opinion in AK Futures LLC v. Boyd Street Distro, LLC, 35 F.4th 682 (9th Cir. 2022). In it, the Ninth Circuit held that “the only statutory metric for distinguishing controlled marijuana from legal hemp is the [0.3 percent by dry weight volume] delta-9 THC concentration level.”  The Court also writes that

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