Jonathan W. Brown and Anthony R. Faraco, Jr. recently obtained a significant jury trial victory in the Northern District of California on behalf of their client, a video game publisher.
The trial involved a business dispute, in which a former business associate made various claims against the video game publisher, including breach of contract, promissory fraud, and wrongful termination claims. The plaintiff in this matter was seeking economic and non-economic damages, an ownership stake in the publisher, and punitive damages. Plaintiff claimed millions of dollars in damages at trial.
The video game publisher sought the counsel of Lipsitz Green Scime Cambria, once the plaintiff filed suit in this matter.
Click here to learn more about Lipsitz Green Scime Cambria’s Commercial Litigation services and visit the bio pages of Jonathan Brown and Anthony Faraco to learn more about their practice.
Treasury Department Eliminates BOI Reporting Requirements for U.S. Companies & Citizens
What Happened?
- This past Friday evening (March 21, 2025), the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule, which removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA).
Court Ruling Reinstates Enforcement of the CTA
Click here for a printer-friendly PDF of this alert
FinCEN has announced that reporting requirements for the Corporate Transparency Act are back in effect.
What Happened:
- As reported in an earlier alert issued by Lipsitz Green Scime Cambria, on December 26, 2024, the U.S. Court of Appeals for the Fifth Circuit reinstated a nationwide preliminary injunction on the enforcement of the CTA.
- The preliminary injunction was initially ordered by the U.S. District Court for the Eastern District of Texas on December 2. 2024, in a lawsuit that challenged the constitutionality of the CTA, Texas Top Cop Shop, Inc., et al. v. Merrit Garland, Attorney General of the United States, et al.
- On January 7, 2025, the U.S. District Court for the Eastern District of Texas, issued an order in another lawsuit challenging the CTA, Smith, et al. v. U.S. Department of Treasury, et al. The January 7th ruling also ordered a stay on FinCEN’s enforcement of the CTA.
- On February 5, 2025, the U.S. Department of Justice filed an appeal of the January 7th ruling and asked that the stay on the enforcement of the CTA be lifted during the appeals process.
- On February 18, 2025, the U.S. District Court for the Eastern District of Texas granted the U.S. Department of Justice’s request and lifted the stay on the enforcement of the CTA.
- This ruling from February 18, 2025 gives FinCEN the authority to enforce the reporting obligations business owners have under the CTA.
