Business Law and Corporate Law

A federal appeals court has upheld the Department of War's authority to exclude Anthropic's Claude AI from its supply chain under FASCSA, finding that concerns about the AI model's potential operational unreliability constitute a reasonable national security risk. The ruling diverges from a prior district court decision and raises significant questions about how federal agencies can restrict AI technologies in government contracting, even absent malicious intent from developers.

The Office of Foreign Assets Control has published comprehensive amendments to Cuba sanctions regulations, expanded Iran sectoral sanctions to include automotive and rail industries, and targeted multiple transnational criminal networks including Tren de Aragua and the Sinaloa Cartel. Meanwhile, the UK and EU have strengthened Russia sanctions enforcement while providing targeted exemptions for specific energy projects, and Asia-Pacific nations are navigating complex sanctions compliance challenges.

The FDIC has proposed sweeping reforms to its bank merger review process, introducing rapid processing frameworks, expanded safe harbors, and modernized competitive analysis methods. These changes promise to streamline approval timelines and reduce regulatory burden for state nonmember banks pursuing merger transactions, while establishing clearer standards for evaluating financial stability and competitive effects.

On July 29, 2026, the Delaware Court of Chancery, in Drakes Landing Associates, L.P. v. Tilden Park Capital Management, L.P., issued the first judicial opinion interpreting the fiduciary duties of PBC directors in change-of-control transactions. The Court held that the traditional Revlon duty to maximize shareholder value does not apply to PBCs.

Recent court decisions reveal how Special Litigation Committees can effectively navigate shareholder derivative claims when committee members demonstrate true independence and conduct rigorous investigations. The success of these powerful corporate governance tools hinges on careful management of discovery, privilege issues, and transparent documentation that earns judicial deference.

Chairman Paul S. Atkins has launched a broad philosophical shift at the Securities and Exchange Commission (SEC), directing the agency toward cutting red tape, maximizing capital formation, and embracing technological innovation. The following summarizes SEC initiatives now underway

A New York appellate court has issued a significant ruling on corporate veil-piercing, holding that company owners can face personal liability for judgment debts when they engage in asset-stripping transactions designed to frustrate creditors—even if the underlying debt arose from a legitimate arm's-length transaction.

Maryland shellfish growers, leaseholders, dealers, and prospective aquaculture operators should take note of several recent actions.

Facing trade secret misappropriation allegations requires swift strategic assessment. Understanding the Defend Trade Secrets Act and state law requirements can help companies identify early defenses, from statute of limitations challenges to insufficient trade secret identification, potentially saving resources and protecting reputation.

Estate planners can better serve clients by looking beyond traditional charitable giving to flexible philanthropic strategies that reflect clients' goals, values and desire for lasting impact across generations. The article explores how modern philanthropy extends beyond tax-deductible donations to include impact investments, giving circles, and mission-aligned business structures. Discover five practical ways estate planners can initiate more meaningful philanthropic conversations and draft documents that

A U.S. House Committee on Ways & Means hearing on “Foreign Influence in American Nonprofits” last month and recent letters by Republican state Attorneys General accusing specific organizations of violating FARA have resulted in some additional public attention about how FARA relates to the nonprofit/tax-exempt sector.

The U.S. Department of the Treasury and IRS recently issued temporary regulations that provide an immediately effective framework for establishing and administering “Trump Accounts,” including broad automatic enrollment and large-scale contributions funded by governmental and charitable donors. The regulations became effective September 30, 2026, apply to taxable years beginning on or after January 1, 2026, and expire September 30, 2029.