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Jul 24, 2024 | 
tradesecretsandemployeemobility.com | Carolyn Boucek |Peter A. Steinmeyer |Erik Weibust
On July 23, 2024, the United States District Court for the Eastern District of Pennsylvania issued an order in ATS Tree Services, LLC v. FTC, Case No. 2:24-cv-01743-KBH, denying Plaintiff ATS Tree Services, LLC’s (“ATS”) motion for preliminary injunction to enjoin the FTC’s Noncompete Ban which, if not enjoined by other courts, will go into effect on September 4, 2024.
Unlike in Ryan LLC v.
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May 17, 2024 | 
reuters.com | Peter A. Steinmeyer |Erik Weibust
On April 23, 2024, the FTC announced the issuance of a final rule banning employers from entering into, enforcing, or attempting to enforce post-employment non-compete clauses with workers, subject to limited exceptions, and invalidating all existing non-competes with a narrow exception for certain senior executives (FTC: Non-Compete Clause Rule (Final Rule)).
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Apr 26, 2024 | 
law360.com | Erik Weibust |Stuart M. Gerson
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Apr 26, 2024 | 
law360.co.uk | Erik Weibust |Stuart M. Gerson
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Apr 26, 2024 | 
law360.com | Erik Weibust |Stuart M. Gerson
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Apr 24, 2024 | 
natlawreview.com | S. McKinley Gray |Avery J. Locklear |Erik Weibust |Peter A. Steinmeyer
In recent months, market participants have become increasingly optimistic about the probability of a “soft landing” in the US economy, whereby tight monetary policy is shown to have tamed inflation whilst avoiding triggering a recession in the broader economy. The market is, despite inflation proving slightly stickier than expected, still (for now at least) forecasting multiple Fed rate cuts during the course of 2024 as the rate of price increases steadily slows.
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Apr 24, 2024 | 
natlawreview.com | Erik Weibust
As expected, the Federal Trade Commission (FTC) voted 3-2 yesterday to issue its final noncompete rule, with only a few changes from the proposed rule that are discussed below. Unless it is enjoined, which we expect, the rule will become effective 120 days after publication of the final version in the Federal Register. If the final rule survives the legal challenges, which are likely to make it all the way to the United States Supreme Court, all new non-competes would be banned.
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Apr 24, 2024 | 
tradesecretsandemployeemobility.com | Erik Weibust |Katherine Rigby |Daniel Levy
As expected, the Federal Trade Commission (FTC) voted 3-2 yesterday to issue its final noncompete rule, with only a few changes from the proposed rule that are discussed below. Unless it is enjoined, which we expect, the rule will become effective 120 days after publication of the final version in the Federal Register.
If the final rule survives the legal challenges, which are likely to make it all the way to the United States Supreme Court, all new non-competes would be banned.
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Apr 23, 2024 | 
tradesecretsandemployeemobility.com | Erik Weibust |Katherine Rigby |A. Millie Warner |Carolyn Boucek
As we have previously written, on April 23, 2024, the Federal Trade Commission (FTC) issued a sweeping final rule (“the Rule”) that purports to ban virtually all post-employment noncompete agreements in the United States. The Rule was formally published in the Federal Register on May 7, 2024, and will go into effect 120 days later, on September 4, 2024--if it survives the legal challenges that were filed in quick response.
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Feb 1, 2024 | 
jdsupra.com | Adam Paine |Erik Weibust
In a bombshell ruling last year that upended longstanding Delaware law, the Delaware Chancery Court ruled in Ainslie v. Cantor Fitzgerald, L.P., 2023 WL 106924 (Del. Ch. Jan. 4, 2023), that forfeiture-for-competition clauses, under which departing employees must forfeit certain long-term incentive compensation if they join a competitor, are akin to post-employment noncompetes and other restraints of trade.
