Abraham Y. (Avi) Skoff of Moses & Singer. Courtesy photo Protecting Client Assets When Noncompetes Are Under Attack: Effective Alternatives
Regardless of how the FTC ultimately fares on appeal, the FTC rule is not the only challenge to noncompetition agreements. Significant legislative proposals to limit noncompetes have been introduced in more than thirty states and in Congress.
November 04, 2024 at 08:00 AM
8 minute read
Special Sections
The FTC noncompete rule, under which nearly all noncompetes in the United States would have been rendered unenforceable, was vacated on Aug. 20, 2024, by the U.S. District Court for the Northern District of Texas. The court stayed the rule on a nationwide basis, holding that "… setting aside agency action under the APA has 'nationwide effect' … The rule shall not be enforced or otherwise take effect … ."
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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