Update: CTA Filing Requirement Blocked Again

On December 26, 2024, the U.S. Court of Appeals for the Fifth Circuit issued an order that effectively reinstates the nationwide preliminary injunction against enforcement of the Corporate Transparency Act (“CTA”) that was the subject of this previous GTC client alert. This order was issued only three days after a separate panel of the Fifth Circuit had lifted the injunction, as described in our client alert of December 24, 2024. Although this ruling could relieve you of your duty to file your company’s Beneficial Ownership Information (“BOI”) report, the U.S. Department of Justice’s appeal of the underlying action is already […]

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Update: CTA Filing Requirement Back in Force

On December 23, 2024, the U.S. Court of Appeals for the Fifth Circuit lifted the nationwide preliminary injunction against enforcement of the Corporate Transparency Act (“CTA”) that was the subject of this previous GTC client alert, finding that the government had made a strong showing that it is likely to succeed in defending the CTA’s constitutionality. This means that, unless there is further legal action, the requirement to file beneficial ownership reports with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has been reinstated. However, in recognition of the interruption caused by the injunction, the Treasury Department has extended […]

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GTC Law Group Serves as Strategic M&A Counsel to Cohesity in the Largest Data Protection Deal to Date

Cohesity Becomes World’s Largest Data Protection Software Provider After Completing Combination with Veritas’ Enterprise Data Protection Business December 12, 2024—GTC Law Group, led by Sean Belanga, Sayoko Blodgett-Ford, and Grace Lee, served as counsel to Cohesity on the acquisition, focusing on intellectual property, data privacy and security, and commercial matters. The combination was completed on December 10 and positions Cohesity as the largest data protection software provider by market share. Serving over 12,000 customers, including over 85 of the Fortune 100 and nearly 70% of the Global 500, the company now offers the broadest workload support and one of the […]

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CTA Update: Federal Court Halts Enforcement with Preliminary Injunction

On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction against enforcement of the Corporate Transparency Act (“CTA”). Although this ruling could relieve you of your duty to file your company’s Beneficial Ownership Information (“BOI”) report, the U.S. Department of Justice has already appealed the court’s action, and the BOI filing requirement could be reinstated on short notice. We therefore recommend you be prepared to file and stay up to date on this quickly changing legal landscape. This alert does not constitute legal advice but does provide a brief update on […]

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