Posts
September 05 2024
Client Alert: SEC Approves Nasdaq Corporate Governance Rule Changes
On August 26, 2024, the U.S. Securities and Exchange Commission issued an order approving a proposed rule change submitted by The Nasdaq Stock Market LLC on May 8, 2024 to amend Nasdaq Listing Rules 5605, 5615, and 5810 regarding certain Nasdaq corporate governance requirements.
Click here to read the alert.
September 03 2024
EGS is thrilled to announce the addition of Susie Cirilli as a Partner in our Labor & Employment Practice Group. Susie brings a wealth of experience and expertise in issues relating to discrimination, hostile work environment, retaliation, and compensation. Additionally, Susie is passionate about the women’s sports industry. She works with all parts of the industry and regularly consults teams, clubs, coaches and agents on employment and contract issues.
Click here to read the announcement.
August 30 2024
Innovative Food Holdings, a national seller of gourmet specialty foods to professional chefs, announced the sale of the assets of its consumer e-commerce business igourmet.com for $700,000 plus the assumption of approximately $350,000 of gift card liabilities. EGS acted as counsel to Innovative Food Holdings.
August 30 2024 Event
2024 Quarterly Hospitality Roundtable: The Recipe for Success
Please join a panel of experts from Ellenoff Grossman & Schole LLP, HUB International, the New York State Restaurant Association and Total Food Service magazine for our next must-attend, informative hospitality industry seminar, where they will address the most frequently asked questions, issues, and concerns on timely topics impacting the industry. This includes current impacts of ingredient inflation and interest rates, AI and robotics, ERP systems and financial data, labor outlook and much more.
Click here to register.
August 30 2024
Client Alert: Federal Rule Limiting Tipped Employee Side Work Overturned
As hospitality employers are well aware, the U.S. Department of Labor (DOL) has long promulgated the “80/20 Rule” providing that in order to take the tip credit from a tipped employee’s wages, the tipped employee must spend at least 80% of their workweek performing tip-producing duties and no more than 20% on non-tipped duties. Further, since December 2021, the DOL’s updated “80/20/30 Rule” has also restricted the performance of non-tip-producing and “directly supporting” duties (collectively “side work”) to 30 consecutive minutes and restricted the employer from taking a tip credit for time spent on side work for more than 30 consecutive minutes and in excess of 20% of the workweek.
Click here to read the alert.
August 29 2024
Cactus Acquisition Corp. 1 Ltd., a special purpose acquisition company, has announced the signing of a definitive business combination agreement for its business combination with Tembo E-LV, an electric utility vehicle company and subsidiary of VivoPower International PLC (Nasdaq: VVPR). The transaction is valued at approximately $904,000,000. EGS acted as counsel to Cactus Acquisition Corp. 1 Ltd.
August 22 2024
Client Alert: California Reforms the Private Attorney General Act
California recently enacted legislation significantly reforming the state’s Private Attorney General Act (“PAGA”), which permits individuals to pursue penalties for employer violations of the California Labor Code provisions on their own behalf and on behalf of other “aggrieved employees.”
Click here to read the alert.
August 21 2024
Client Alert: Texas Court Permanently Blocks FTC Noncompete Rule
As expected, on August 20, 2024, a federal judge in Texas permanently blocked the Federal Trade Commission (“FTC”) rule banning most employee noncompetition agreements (the “Noncompete Rule”). The judge held that “the FTC lacks statutory authority to promulgate the Noncompete Rule, and that the Rule is arbitrary and capricious.”
Click here to read the alert.