LAWPAC Needs You!February 2025The Illinois Lawyers’ Political Action Committee (LAWPAC) needs your help to fulfill its mission to support the legislative goals of the ISBA and Illinois’ legal community.
Legal and Regulatory Issues That Corporate Law Departments Should Monitor During the Remainder of 2025By Junaid Zubairi, Brooke Conner, & Paris MayfieldJuly 2025This article explores the guidance from key government agencies, including the Securities and Exchange Commission (SEC), the Public Company Accounting Oversight Board (PCAOB), and the Department of Justice (DOJ), on what corporate law departments can expect for the rest of the year.
A Note by Any Other Name, or What Is a “Security”By Christopher C. KendallFebruary 2025An analysis of the 3rd District Appellate Court case, Stukel v. Rowe, where the plaintiff alleged that the promissory note was a “security” under the Illinois Securities Law and that the defendant had acted as a salesperson in connection with the sale. Plaintiff’s theory was that the promissory note was indeed a security because repayment of the loan was “contingent upon the completion of” a construction project for which the loan was provided.
Recent Amendments to the Illinois Biometric Information Privacy ActBy Nikhil A. MehtaFebruary 2025The recent amendments bring significant changes, particularly with respect to liability and consent procedures, which will impact businesses, privacy advocates, and legal professionals alike. The amendments are codified in Illinois Public Act 103-0666.
Third Circuit Embraces De Novo Review of Demand Futility Dismissals, Overruling Prior Precedent and Joining Delaware Supreme Court and Other CircuitsBy Jay R. SchleppenbachFebruary 2025For decades, courts have dismissed derivative suits for failure to properly allege demand futility. But for almost as long, the standard of review appellate courts should apply to such dismissals has been in flux, with courts seeming to gradually move from an abuse of discretion standard to de novo review. Recently, in In re Cognizant, the United States Court of Appeals for the Third Circuit became the latest court to adopt de novo review, overruling its prior precedents.
