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Sullivan & Cromwell LLP


New York State Regulations Increase Salary Required for Employees Exempt from Overtime

USA - January 5 2017 On December 28, 2016, the New York State Department of Labor issued notices of adoption of new rules, effective December 31, 2016, substantially

UK tax treatment of depositary receipts: HMRC will still treat ADR holders as beneficial owners of shares

United Kingdom - May 21 2012 HM Revenue and Customs lost the HSBC case on stamp duty reserve tax in February, but did succeed in arguing that the American Depositary Receipts concerned did not give their holders beneficial ownership of HSBC shares

In the Matter of Kenneth Cole Productions, Inc. Shareholder Litigation

USA - May 9 2016 In In the Matter of Kenneth Cole Productions, Inc. Shareholder Litigation, the New York Court of Appeals (Stein, J.) adopted the Delaware Supreme

Finance and secured lending in the United States

Global, USA - May 5 2017 A structured guide to finance and secured lending in the United States

In re Trulia, Inc. Stockholder Litigation

USA - January 26 2016 In a decision continuing the trend over the past year of increased judicial scrutiny of proposed settlements of stockholder merger litigation, the

Eleventh Circuit Affirms Ordinary Income Treatment of Forfeited Deposits on Lapsed Sale of Real Estate

USA - February 20 2018 In CRI-Leslie, LLC, Donald W. Wallace, Tax Matters Partner v. Commissioner of Internal Revenue, 11th Cir., No. 16-17424, February 15, 2018, the

SEC Approves NYSE Proposal to Facilitate Listings of Companies Without a Trading History

USA - February 16 2018 On February 2, 2018, the SEC issued an order approving, on an accelerated basis, a proposed rule filed by the NYSE to amend Section 102.01B

New York Appellate Court Upholds Waiver of Yellowstone Action

USA - February 13 2018 In a recent decision by the Second Department of the New York Appellate Division, a tenant's waiver of its right to bring a so-called "Yellowstone"

Proposed Changes to Nasdaq Shareholder Approval Requirements

USA - February 12 2018 Nasdaq Proposes to Eliminate the Requirement for Shareholder Approval of 20 Stock Issuances at a Price Less Than Book Value but Greater Than Market

Flash Analysis of Trump Administration’s Infrastructure Proposal

USA - February 12 2018 As you know, the White House issued its Legislative Outline for Rebuilding Infrastructure in America and a Fact Sheet Summary of the Outline this