Post PASPA: An Examination of Sports Betting in America

By Laurie McKay, Mark Clayton and Edward R. Winkofsky on Posted in Chicago, Gaming, Government Law and Policy, Las Vegas, Washington D.C.

Background

The House Judiciary Subcommittee on Crime, Terrorism, Homeland Security, and Investigations held a hearing yesterday titled, “Post PASPA: An Examination of Sports Betting in America.” Subcommittee Chairman Jim Sensenbrenner (R-WI) heard testimony from the following witnesses: 1) Jocelyn Moore, executive vice president for communications and public affairs, National Football League; 2) Les Bernal, national director of Stop Predatory Gambling; Sara Slane, senior vice president of public affairs at the American Gaming Association; 3) Jon Bruning, counselor for the Coalition to Stop Online Gambling; and 4) Becky Harris, chair of the Nevada Gaming Control Board.

Members of Congress attending the hearing included: Subcommittee Chairman Sensenbrenner, full Committee Chairman Bob Goodlatte (R-VA); full Committee Ranking Member Jerry Nadler (D-NY); Rep. Cedric Richmond (D-LA); Rep. Val Demmings (D-FL); Rep. Hakeem Jeffries (D-NY); and Rep. Martha Roby (R-AL).

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Israel’s Economy Continues to Outperform

By Jonathan Orlinsky on Posted in credit rating, Tel Aviv

Earlier this summer, S&P Global gave the Israeli economy a vote of confidence by upgrading Israel’s credit rating for the first time in seven years. As reported in a Calcalist article, the new AA- rating is Israel’s highest to date. The change by S&P was made on the heels of Moody’s Investors Service also upgrading Israel’s rating, from “stable” to “positive.” 

Several factors contributed to the credit rating bump, such as Israel’s diverse economy, strong external balance sheet, historically low unemployment rate, and declining general government debt. The report mentioned Israel’s “strong economic performance” and even predicted a growth rate of 3.3 percent of gross domestic product over the next four years. The upgraded credit rating will save Israel billions of shekels, which will be leveraged for the social ministries – health, education, and social welfare.

Greenberg Traurig is the only major international law firm with a multidisciplinary, registered office in Tel Aviv and serves as a gateway for Israeli businesses and entrepreneurs seeking opportunities around the world, as well as for companies exploring opportunities within Israel. The Tel Aviv location offers clients the global reach of Greenberg Traurig’s international network, connecting Israel to major commercial centers across the globe. GT Tel Aviv is deeply involved in the hi-tech world and assists Israeli companies in raising money and increasing operations abroad as well as in connecting U.S., Chinese, and European investors with Israeli companies.

Real Estate Investment in Poland – Opportunities in Europe’s Booming Market

By Greenberg Traurig on Posted in Event, Real Estate

Recently, Greenberg Traurig was pleased to organize a morning seminar focused on real estate investment opportunities and trends in Poland. GT’s Tel Aviv and Warsaw offices, together with partners CBRE and Deloitte, hosted a group of more than 70 guests eager to learn about the Polish real estate market. The seminar took place in Tel Aviv and included overviews of related legal and tax issues, combined with a market analysis.

Lawrence Sternthal (Shareholder, Tel Aviv, Real Estate) delivered the opening remarks, while Agnieszka Stankiewicz (Shareholder, Warsaw, Real Estate), together with Daniel Masiar (Junior Vice President, HB Reavis), provided an insider’s view of Polish real estate transactions.

The seminar also included an industry panel discussion that addressed opportunities in the Polish real estate market for Israeli investors. Moderated by Warsaw office Real Estate Practice Shareholder Jolanta Nowakowska-Zimoch, the panel included Roy Gadish (CEO, Adgar Investments), Max Kreuter (Managing Director, Panattoni Europe), Karol Klin (Head of Leasing, Globalworth Poland), and Dominik Stojek (Director, Real Estate Group, Deloitte Tax). 

 

Adam Snukal Speaks to Jerusalem Post on Worldwide Privacy Post-GDPR

By Greenberg Traurig on Posted in Corporate, Cybersecurity, Data protection, FinTech, Intellectual Property, Israel, Privacy and Data Security, Technology

Adam Snukal, shareholder in Greenberg Traurig’s Intellectual Property & Technology Practice in Tel Aviv, recently spoke to The Jerusalem Post on the implications and possible future effects of the EU’s General Protection Data Regulation. Read the full interview here.

30 Days to Meet New US-Specific Data Security Requirements

By Francoise Gilbert and Maxwell A. Calehuff on Posted in Cybersecurity

Israeli companies with e-commerce and other web activities reaching persons living in the United States should be aware of new Data Privacy legislation on the horizon regarding the personal information of Colorado residents.  By Sept. 1, formal data security and data disposal programs must be in place to be in compliance with the laws. Read more to understand what measures must be undertaken starting next month.

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GT Wins Motion to Dismiss for Teva Pharmaceuticals USA, Inc.

By Greenberg Traurig on Posted in Firm News, Litigation

GT is pleased to have achieved a win on behalf of our client Teva Pharmaceuticals USA, Inc.

In May 2018, a U.S. Federal District Court Judge from the Central District of California granted Teva’s motion to dismiss in its entirety without leave to amend.

In April 2017, Plaintiffs commenced an action in California’s Riverside County Superior Court against Teva related to the anti-depressant drug Lexapro and its generic equivalent.  That original case was removed to federal court where an initial motion to dismiss was granted with leave to amend in November 2017 though the Order agreed with Teva and outlined the many infirmities of Plaintiffs’ claims allowing for an opportunity to address them in a further amendment.  After Teva raised several separate bases for dismissal, the Court finally granted the motion without further leave to amend. 

GT Team: The team included Lori G. Cohen (Shareholder, Atlanta, Pharmaceutical, Medical Device & Health Care Litigation), Ginger Pigott (Shareholder, Los Angeles, Litigation), R. Scott Mullen (Associate, Los Angeles, Litigation), and Kathryn A. Guenther (Paralegal, Los Angeles, Litigation). 

Greenberg Traurig’s Tel Aviv office is the only major international law firm with a multidisciplinary, registered office in Tel Aviv and serves as a gateway for Israeli businesses and entrepreneurs seeking opportunities around the world, as well as for clients exploring opportunities within Israel.

 

What CFOs Need to Know about the State Sales Tax Ruling

By Marvin A. Kirsner on Posted in Tax, Technology

The recent Supreme Court ruling allowing states to tax online sales could result in a disruption in the operations of portfolio companies owned by private equity firms. With little time to act, chief financial officers need to know how to deal with the consequences of this decision that has significantly changed the tax landscape.

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Supreme Court Internet Sales Tax Case Will Require Many Companies to File State Corporate Income Tax Returns – Even If They Are Not Subject to Sales Tax

By Greenberg Traurig on Posted in Tax, Technology

Although the sales tax collection obligation of online retailers was the focus of last month’s momentous U.S. Supreme Court case South Dakota v. Wayfair, it will also impact state corporate and income tax obligations. Companies may now be exposed to state income tax as a result of the Wayfair case and should examine their activities in the states and may wish to consider entering into a voluntary disclosure agreement with these states.

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California Governor Signs Consumer Privacy Act of 2018

By Francoise Gilbert, Catherine Mattesich Taylor and Maria C. Garcia˘ on Posted in Data protection

Governor Brown has just signed the California Consumer Privacy Act of 2018. The new law, which has numerous similarities with the EU General Data Protection Regulation (GDPR), will take effect on Jan. 1, 2020. The law was passed on an expedited schedule to block a similar initiative that had garnered enough signatures to qualify for the ballot. While the two measures have similar terms, it will be much easier for the California Legislature to amend the statutory measure than its initiative counterpart. It is expected that legislation proposing changes to the new law will be introduced early next year as part of the next two-year legislative session.

The law expands the definition of “personal information” to include a broad list of personal and commercial characteristics and behaviors, as well as inferences drawn from this information. It also provides California consumers with the ability to obtain information about the sharing and disclosure of their personal information and to prohibit such sharing or disclosure. The law affects a broad range of entities doing business in California, creating obstacles to their marketing and monetization efforts.

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