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In May 2023, Jennifer A. Abruzzo (the “General Counsel”), General Counsel for the National Labor Relations Board (“NLRB”), took the position that certain non-compete provisions violate the National Labor Relations Act (“NLRA”) (as discussed here) by restricting employee mobility. Now, in an October 7, 2024, memorandum (GC 25-01), the General Counsel has expanded on the topic of employee mobility by targeting “stay-or-pay” provisions.

Welcome to Vinson & Elkins’ Securities and ESG Updates.

On October 10, 2024, the Federal Trade Commission (the “FTC”), with the Department of Justice Antitrust Division’s concurrence, released a Final Rule containing long-anticipated revisions to the Hart-Scott-Rodino Act Premerger Notification Form.

Keith Fullenweider appeared on Harvard Business School’s Managing the Future of Work Podcast, which was published September 25, 2024.

On August 20, 2024, the U.S. District Court for the Northern District of Texas entered a final judgment (“Order”) setting aside, on a nationwide basis, the Federal Trade Commission (“FTC”) final rule (“Rule”) prohibiting non-competition agreements.

As we previously addressed, on April 24, 2024, the Federal Trade Commission (“FTC”) voted to finalize its rule prohibiting businesses from entering into or enforcing non-compete clauses in nearly all agreements with workers (“FTC Rule”).

On April 23, 2024, the United States Department of Labor released the final version of its rule that revises Fair Labor Standards Act (“FLSA”) regulations in order to increase the salary thresholds that must be satisfied in order for certain employees to qualify as exempt from the FLSA’s overtime payment requirements.

On April 17, 2024, the U.S. Supreme Court in Muldrow v. St. Louis held that an employee who claimed she was involuntarily transferred to another position because of her sex in violation of Title VII of the Civil Rights Act of 1964 (“Title VII”) needed only to show that the transfer caused “some harm respecting an identifiable term or condition of employment”

On April 23, 2024, the Federal Trade Commission (“FTC”) voted 3-2, on party lines, to finalize its rule prohibiting businesses from entering into or enforcing non-compete clauses in nearly all agreements with workers.

A Delaware Court of Chancery opinion issued last week calls into question the common practice of corporate boards approving draft merger agreements.Michael Holmes, Craig Zieminski, Jeff Crough, Christina Peterman

On February 8, 2024, in its Murray v. UBS Securities, LLC opinion, the U.S. Supreme Court unanimously held that a whistleblower pursuing a claim for retaliation under the Sarbanes-Oxley Act of 2002 (“SOX”) does not need to show that the employer acted with “retaliatory intent.”

The Vinson & Elkins team discussed employment law developments affecting technology companies.