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R. Erica Roque, Thorne Maginnis, Matthew R. Mills, Perry A. Jackson

In Mandel v. Last Brand, Inc. d/b/a Quince, direct-to-consumer retailer, Quince, is pushing back against a proposed class action that accuses it of defrauding customers as to the pricing of its products sold on its website.

Matthew Berlin, Natasha Weis

On May 1, the Connecticut legislature approved Senate Bill 5 (SB 5), an Act Concerning Online Safety, which Governor Ned Lamont has indicated he intends to sign.

Nicholas J. Nesgos, Taylor Listau

On May 14, the US Supreme Court issued a unanimous opinion in Jules v. Andre Balazs Properties, resolving a circuit split on a question of practical importance to parties litigating in federal court who are subject to arbitration agreements.

Ralph V. De Martino, Cavas S. Pavri, Johnathan C. Duncan, Marc E. Rivera, Jeffrey J. Kennedy, Marina Phillips, Kendall K. Murphy

The US Securities and Exchange Commission (SEC) has proposed comprehensive amendments to modernize securities registration. The proposed rules would dramatically expand Form S-3 eligibility, replace the well-known seasoned issuer (WKSI) framework for domestic issuers with a new three-tier system, modernize Form S-1, and preempt state securities law registration for all registered offerings.

Nicholas J. Nesgos, Benjamin M. Greene, Taylor Listau

On April 20, the Delaware Court of Chancery issued a post-trial opinion in DSM HoldCo, Inc. v. Demoulas, upholding the termination of Arthur T. Demoulas as president and CEO of the Market Basket grocery store chain.

Cissy Jackson, Karen Ellis Carr, Christina Rather

One week after the US House of Representatives passed a Farm Bill that expressly integrates food security into national security, Congressman John Moolenaar, Chairman of the Select Committee on China, and 13 bipartisan cosponsors introduced a standalone bill that would take significant additional steps aimed at safeguarding US national security and food security.

Abha Kundi*, Matthew Berlin

On April 29, the US Food and Drug Administration (FDA) published a Request for Information (RFI) seeking public comment on a proposed pilot program to test the use of artificial intelligence (AI) in early-stage clinical trials for drugs and biologics. Comments are due June 29.

D. Jacques Smith, Michael F. Dearington, Nadia Patel, Hillary M. Stemple, Laura Zell, Michelle J. Shapiro, Sean A. Worley, John M. Hindley

Headlines that Matter for Companies and Executives in Regulated Industries

Angela M. Santos, Antonio J. Rivera, Diana Dimitriuc Quaia, James Kim*, Sylvia G. Costelloe, Lucas A. Rock, Mario A. Torrico, Maya S. Cohen, Tyler J. Kimberly, Riyaz Dattu*

Welcome to the May 2026 issue of “As the (Customs and Trade) World Turns,” our monthly newsletter where we compile essential updates from the customs and trade world over the past month. We bring you the most recent and significant insights in an accessible format, concluding with our main takeaways — aka “And the Fox Says…” — on what you need to know.

Patricia A. Pileggi, Brittany H. Sokoloff, Sean A. Worley

The US Securities and Exchange Commission (SEC) has formally rescinded Rule 202.5(e) — the “gag rule” — which had been in effect since 1972.

Matthew Berlin, Natasha Weis

Colorado scrapped its original artificial intelligence (AI) law (SB 24-205) before it could take effect on June 30, and replaced it with SB 26-189, which is effective January 1, 2027.

Nancy J. Puleo, Kelly K. Ballentine, Elizabeth McLaughlin

A $4.7 million jury verdict against Wayfair underscores the risks employers in Massachusetts face when handling employees’ return from paid leave.

D. Reed Freeman Jr., Karen Ellis Carr, John M. Keblish

Until recently, no state or federal law specifically governed ownership or rights in agricultural and livestock data. If ownership allocations were addressed at all, it was by contract.

Linda M. Jackson, Matthew F. Prewitt, Allan E. Anderson, Ehsun Forghany, Nicholas J. Nesgos, Alexander H. Spiegler, Meghan F. Hart, John M. Hindley

Tennessee is the latest jurisdiction to enact legislation restricting and defining the permissible use of noncompete agreements.

Jackson David Toof, Nadia Patel, Mario A. Torrico, Rebekkah R.N. Stoeckler

On May 12, the US Department of Justice (DOJ) announced that Perfectus Aluminum Inc., Perfectus Aluminum Acquisitions LLC, and four affiliated warehousing companies agreed to one of the highest customs fraud settlements ever: a $549.5 million resolution of civil False Claims Act (FCA) allegations that they knowingly evaded antidumping and countervailing duties (AD/CVD) on aluminum extrusions imported from China.

D. Jacques Smith, Michael F. Dearington, Nadia Patel, Hillary M. Stemple, Laura Zell, Michelle J. Shapiro, Roberto Martinez, Sean A. Worley

Headlines that Matter for Companies and Executives in Regulated Industries

Douglas A. Grimm, Jill A. Steinberg, Kaitlin G. Klamann, Kirsten A. Hart

On May 13, the Centers for Medicare & Medicaid Services (CMS) implemented two separate nationwide moratoria that halt the Medicare enrollment of new home health agencies (HHAs) and hospice providers. The moratoria took effect immediately.

D. Reed Freeman Jr., Karen Ellis Carr, John M. Keblish

Last year, we reported that Nebraska senators introduced the Agriculture Data Privacy Act (LB525), a first-of-its-kind privacy bill specifically aimed at regulating agricultural-sector data.

Jill A. Steinberg, Emily M. Cowley, Gabriella Stern, Shoshana Golden

Mail and telemedicine access to mifepristone — used together with misoprostol to end an early pregnancy — is in flux following a Fifth Circuit Court of Appeals ruling that restricts mail-order distribution of the medication nationwide, and the US Supreme Court’s subsequent administrative stay restoring the status quo ante on a temporary basis.

Birgit Matthiesen, Jackson David Toof, Mario A. Torrico

In the latest episode of Five Questions, Five Answers, host Birgit Matthiesen is joined by ArentFox Schiff colleagues Jackson David Toof and Mario A. Torrico for a conversation on the False Claims Act (FCA), its origins, and its continued importance as a tool to combat fraud against the federal government.

James Kim*, Judy Bao, Constance Zhou, Nick Kianpoor

On April 24, the US Attorney’s Office for the Eastern District of Tennessee announced a $2.1 million settlement with Echelon Fitness Multimedia, LLC, resolving False Claims Act (FCA) allegations of undervaluation leading to the underpayment of duties.

Robert A.H. Middleton, Amy Antoniolli, Meera Gorjala, Duncan M. Weinstein

In a recent win for renewable energy developers, the Michigan Court of Appeals confirmed that Michigan law prohibits local governments from imposing requirements on wind, solar, and energy storage projects more restrictive than state law.

Patricia A. Pileggi, Alex J. Becker

On December 22, the Internal Revenue Service (IRS) announced proposed updates to its Criminal Investigation Voluntary Disclosure Practice (VDP), opening a 90-day public comment period that closed on March 22. Revised procedures are expected to take effect six months after the changes are finalized.

Abha Kundi*, Emily M. Cowley, Gayland O. Hethcoat II, Shoshana Golden, Nardeen Billan

On May 1, the US Food and Drug Administration (FDA) announced that it is proposing to exclude semaglutide, tirzepatide, and liraglutide from the 503B Bulks List. If finalized, this proposal would close the last remaining regulatory pathway for large-scale compounding of these popular GLP-1 receptor agonists by 503B outsourcing facilities.

Birgit Matthiesen, Antonio J. Rivera

Following recent episodes that examined specific US tariff announcements, today’s discussion takes a wider view.