Without looking it up, most people might guess that the Federal Motor Carrier Safety regulations (“FMCSRs”) apply only to companies operating 18 wheelers and large passenger buses. Those guesses would be wrong. The FMCSRs apply to all businesses with at least one “commercial motor vehicle” (“CMV”) under its operation. Though there are multiple definitions of
In addition to a new round of state-level college athlete name, image, and likeness (NIL) bills that are currently being introduced, a new federal NIL bill co-authored by Senator Chris Murphy and Representative Lori Trahan was introduced last week. Unlike the other federal and state bills that have either been passed or introduced, the new
Operation CBDeceit now aims to crack down on CBD operators’ misinformation and mislabeling on products. This long-running concern, claiming that the drug treats medical conditions, is what the U.S. Federal Trade Commission (FTC) is attempting to rein in. In 2017, Penn University found that nearly 70% of extracts sold online were mislabeled and concluded the
In December of 2020, Coinbase announced it had filed preliminary private paperwork with the Securities and Exchange Commission to go public. Within days of this announcement, derivatives exchange FTX created a synthetic Pre-IPO futures contract that went as high as $317. At its peak, the exchange’s implied market cap hit a valuation of over $75
Kennyhertz Perry attorney Mit Winter was recently featured in an article by The Gazette discussing the NCAA’s proposed bylaw changes that would allow NCAA Division I college athletes to be paid for the use of their names, images, and likenesses (NIL). The NIL bylaws are currently scheduled to be voted on next week. If the
Last week, Citibank wrapped up its six-day trial after one of the biggest banking errors in recent memory. The error occurred when Citibank accidentally wired a payment of $900 million from its own pocket. Some recipients returned the funds, but Citibank had to sue for the remaining 500 million or so. The judge in the
The Missouri Lawyers Awards recognize lawyers who made an impact in the past year and went above and beyond in the categories of Law Firm Leader, Influential Appellate Attorney, Influential Lawyer, Legal Champion, and Lawyer of the Year. Law Firm Leader is awarded to chairpersons, managing partners or other law firm executives who demonstrated extraordinary
A wide-ranging bill proposed by Senators Cory Booker and Richard Blumenthal entitled the College Athlete Bill of Rights could result in big changes for college athletics. Among the items addressed in the bill are: Name, Image, and Likeness rights: college athletes would be allowed to enter into endorsement deals, including with companies that compete with
On December 17, 2020, the Federal Trade Commission announced Operation CBDeceit, the first law enforcement crackdown on deceptive claims in the growing market for cannabidiol (CBD) products. The FTC is taking action against six sellers of CBD-containing products for allegedly making a wide range of scientifically unsupported claims about their ability to treat serious health conditions, including
Mit Winter was quoted in an article by Front Office Sports discussing today’s announcement by the U.S. Supreme Court that it will review a lower court’s decision in the Alston v. NCAA case. The lower court’s decision found that NCAA bylaws that limit college athletes’ ability to receive educationally related payments and benefits from their
In an unexpected development, the United States Supreme Court announced today that it will review a lower court decision in Alston v. NCAA that found NCAA bylaws that limit educationally related compensation to college athletes violate antitrust law. As a result of the lower court decision, NCAA Division I schools are currently allowed to give
Even during a global pandemic, prosecuting cryptocurrency tax crimes is still a priority. The Internal Revenue Service estimated back in 2018 that potentially unreported cryptocurrency tax liabilities represent about 2.5 percent of the more than $450 billion tax gap. With the focus on tax fraud by the IRS’s new Fraud Enforcement Office, continued emphasis on
