On August 26, 2020, the Securities and Exchange Commission (the “SEC”) adopted amendments to the definition of “accredited investor.” The amendments permit investors to qualify as accredited investors based upon additional criteria focused on financial sophistication,...
PLDO Law Blog
Month: October 2020
DOL Solicits Public Comment on Independent Contractor Proposed Rule
On September 22, 2020, the U.S. Department of Labor (the “DOL”) released a proposed regulation addressing when a service provider should be classified as an independent contractor rather than an employee. The change is important to both employers and service providers...
REAL ESTATE TITLE DISPUTES: THE PROCESS OF RECORDING “LIS PENDENS” IN RHODE ISLAND AND MASSACHUSETTS
If you or your business ends up in a dispute over real estate, it is likely that you will encounter a lis pendens. Lis pendens is Latin for “suit pending,” and it means just that, it is a statutorily governed legal tool that is often used to give notice on a...
HIGH STAKES: DRAFTING AND INTERPRETING PAYMENT REJECTIONS UNDER MASSACHUSETTS’ PROMPT PAY ACT
Under the Massachusetts Prompt Pay Act, which governs construction contracts, unless an owner meets the Act's "time and substance" requirements for rejecting a payment application from a contractor (ditto for subcontractors' applications to contractors), that...
RHODE ISLAND SUPREME COURT RULES THAT A PROPERTY’S FORECLOSURE WAS VALID DESPITE PLAINTIFF’S CLAIMS THAT MORTGAGE DOCUMENTS WERE “AMBIGUOUS”
BackgroundA recent case arose out of foreclosure proceedings that were instituted by Wells Fargo Bank (“Wells Fargo” or “defendant”) with respect to property located at 18 High Street in Bristol, Rhode Island. The property’s owner (“plaintiff”) secured the mortgage by...
FDA CONSIDERS RESCHEDULING MARIJUANA: A MILESTONE IN DRUG POLICY REFORM
The landscape of drug policy in the United States is poised for a significant shift as the Food and Drug Administration (FDA) undertakes a reassessment of marijuana’s drug scheduling classification. The FDA is conducting a comprehensive review of marijuana’s current...
ARE NON-COMPETITION AGREEMENTS ENFORCEABLE IN RHODE ISLAND?
COURTS RULE IN FAVOR OF THE EMPLOYER’S AGREEMENT IN RECENT CASE The Rhode Island Supreme Court recently addressed the enforceability of a non-competition provision. In Walls v. Griggs & Browne Pest Control, Inc., the Court reviewed an agreement between Brian Walls...