The New York Civil Practice Law and Rules provide an accelerated procedure to enforce "instruments for the payment of money only" and out-of-state judgments, offering plaintiffs the opportunity to save time and money. Under CPLR 3213, plaintiffs can begin an action by filing a summary judgment motion instead of a complaint, and, if successful, can obtain a judgment while avoiding any discovery, often the most expensive phase of litigation. More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partners Anne Beaumont and Lance Gotko discussing the Obama Administration's call to action for state legislators to significantly curtail employers' ability to use and enforce non-compete provisions. The measure follows efforts already made by some states to attempt to restrain non-competes. More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partners Anne Beaumont and Lance Gotko discussing the recent SEC settlement with BlueLinx Holdings Inc. relating to provisions the company had included in severance agreements. Those provisions restricted former employees’ abilities to disclose the company’s confidential information and to receive rewards as SEC whistleblowers. The settlement builds upon the principles articulated in the SEC's April 2015 settlement with KBR, Inc. The BlueLinx and KBR consent orders together underscore the SEC’s view that any provisions that might stifle an employee’s communications with the SEC – either explicitly (as in KBR) or implicitly (as in BlueLinx) – are prohibited, regardless of the employer’s intent, its efforts (or lack thereof) to enforce them or their actual chilling effect. These developments have implications not just for the hedge fund industry: they potentially affect any firm that is subject to SEC oversight. More