By Lawrence Sheh, Brian Reilly, and Madeline Ursini In a February 27, 2025 press release, FinCEN announced that despite the updated March 21, 2025 beneficial ownership information (“BOI”) report filing deadline, the agency will not issue any fines or penalties or take any other enforcement actions for noncompliance with the Corporate Transparency Act based on any failure to...
Client AlertsCorporate & BusinessCorporate Transparency Act Reporting Obligations Reinstated with March 21, 2025 Filing Deadline for Most Filers
February 20, 2025
By Lawrence Sheh, Brian Reilly, and Madeline Ursini On February 18, 2025, a Texas federal district court judge stayed the nationwide preliminary injunction on the enforcement of the Corporate Transparency Act (CTA), reinstating beneficial ownership information (BOI) reporting obligations. This decision marks the latest development in a series of legal challenges to the CTA, including multiple injunctions, stays,...
Client AlertsCorporate & BusinessLitigation & DisputesNonprofitFederal Funding Pause: Understanding the White House’s Memo and Subsequent Court Rulings
February 3, 2025
By Elizabeth O. Manchester, James P. McGlone, and Kelley J. O’Donnell On Monday January 27th, the White House’s Office of Management and Budget (OMB) issued a memorandum instituting a pause on federal grant and loan programs. This memo quickly became the subject of litigation, further guidance from the White House, and court orders temporarily blocking...
Client AlertsCorporate & BusinessNonprofitAnother Attack on Diversity and Inclusivity Efforts Post Students for Fair Admissions (SFFA) Supreme Court Decision
January 29, 2025
By Elizabeth O. Manchester, Russell J. Stein, and Kelley J. O’Donnell The American Alliance for Equal Rights (AAER) filed suit against McDonald’s in federal court over the corporation’s scholarship program for high school students of Hispanic and Latino descent, the Hispanic American Commitment to Educational Resources (“HACER”) program.[1] The complaint alleges the scholarship program is racially discriminatory in...
Client AlertsEmployment & LaborNew Year, New Massachusetts Employment Compliance Requirements
January 6, 2025
By Alicia Samolis, Sean Fontes, Morgan Hedly, and Michael Gamboli As employers plunge forward into the New Year, they are reminded that if they have any employees working in Massachusetts – in person or remotely – then they need to ensure their Massachusetts employees have been provided the yearly Massachusetts Paid Family Medical Leave (“PFML”) law updated notice. The...
Client AlertsCorporate & BusinessCorporate Transparency Act: Reinstatement of Preliminary Injunction
December 30, 2024
By Lawrence Sheh, Brian Reilly, and Madeline Ursini The U.S. Court of Appeals for the Fifth Circuit has reinstated a nationwide preliminary injunction on the enforcement of the Corporate Transparency Act (the “CTA”). The preliminary injunction, which had previously been stayed by a three-judge panel of the Fifth Circuit, pauses the beneficial ownership information (“BOI”) reporting requirements under...
Client AlertsCorporate & BusinessCorporate Transparency Act Update: Enforcement of Corporate Transparency Act Resumes After Court Stays Preliminary Injunction
December 24, 2024
By Lawrence Sheh, Brian Reilly, and Madeline Ursini On December 23, 2024, the 5th U.S. Circuit Court of Appeals granted a stay of the nationwide preliminary injunction granted earlier this month blocking the enforcement of the Corporate Transparency Act (the “CTA”). As a result, reporting companies’ beneficial ownership reporting obligations are once again enforceable. As...
Client AlertsLitigation & DisputesAppeals We’re Watching: Recent Appeal Potentially Sets Up SCOTUS Ruling on the Constitutionality of Whistleblower-Controlled False Claims Act Litigation
December 18, 2024
By Christian Jenner and Christopher Wildenhain In October of 2024, the United States appealed the federal district court’s judgment in United States ex rel. Zafirov v. Florida Medical Associates, LLC.[1] In that case, the court held that the statute authorizing whistleblowers to sue in the name of the United States to recover for false claims...
Client AlertsNonprofitKey Considerations for Creating a For-Profit Subsidiary of a Public Charity
December 16, 2024
By Elizabeth Manchester, Russell Stein, Brian Reilly, and Madeline Ursini OpenAI, an artificial intelligence research nonprofit, has recently garnered media attention for considering a restructuring strategy involving the formation of a taxable subsidiary. The establishment of for-profit taxable subsidiaries by nonprofit organizations qualified as tax-exempt under Internal Revenue Code (“IRC”) Section 501(c)(3)[1] has been a...
Client AlertsNonprofitA Break for Massachusetts Nonprofits: Lowering the Demand for Financial Reporting and Providing Incentives for Board Members to Serve
December 11, 2024
By Elizabeth O. Manchester, Russell J. Stein, and Kelley J. O’Donnell The Massachusetts legislature and Governor Healey recently passed into law An Act Relative to Strengthening Massachusetts’ Economic Leadership (the “Act”)[1]. The Act provides significant changes in the nonprofit space which will alleviate financial reporting requirements for small and mid-sized Massachusetts nonprofits as well as...
