Connecticut Society of CPAs (CTCPA)’s Post

Important legal update regarding one of the most frequently asked questions these days.... Is my noncompete enforceable? A federal judge in Texas said that the FTC lacks authority to put the nationwide ban into effect. What does this mean for your noncompete? In New York, it's not outright unenforceable, but there are limits. #noncompete #noncompeteban #ftc #legalupdate

📢 Update on ATS Tree Services, LLC v. Federal Trade Commission 📢 As of July 24, 2024, a judge in the U.S. District Court for the Eastern District of Pennsylvania decided to side with the Federal Trade Commission in regard to the noncompete agreement ban. Read more below 👇 #FTC #Noncompete #EmploymentLaw #LegalUpdates #MyHRConcierge #Blog

The time has come for employers who rely on non-competition agreements to breathe a collective sigh of relief. Yesterday, a federal court in Texas set aside the FTC non-compete rule on a nationwide basis, declaring, “the Rule shall not be enforced or otherwise take effect on its effective date of September 4, 2024 or thereafter.”  For our latest update, click on the below link: https://lnkd.in/gp5u3JX9 #FTC #Noncompeterule #FTCnoncompeterule #restrictivecovenants #noncompetes

The FTC's nationwide non-compete ban is now on hold. Judge Ada E. Brown's preliminary injunction halts the rule set to take effect in September. Learn more about this development from Bill Egan. #EmploymentLaw #NonCompete

The FTC has voted to ban non-compete agreements. According to the decision, this will be implemented 120 days after being entered into the Federal Register, barring legal action. This landmark decision is expected to have a significant impact on the job market. To learn more about this decision, check out the article by Taylor Giorno of The Hill. #FTC #noncompete #jobmarket #employmentlaw

This is big news for employers and employees alike, and it eliminates (for now) the uncertainty being caused by the FTC’s nationwide ban on non-compete agreements that had been set to go into effect on Sept. 4.  However, the FTC will likely appeal this ruling, and it would not be surprising if this spurs renewed efforts at the state and federal levels to pass new legislation to further regulate non-competes. #FTC #noncompetes #NonCompeteBan #FederalTradeCommission #FTCRule

UPDATE ❗ The FTC's rule to federally ban #noncompetes will not go into effect after a Texas federal judge issued a nationwide injunction which barred the implementation of the Final Rule. Read more here 👇

This afternoon the FTC has voted 3-2 on an official rule to ban non-competes. The press release with the final rule is linked below. While this ruling has received much fanfare, the end result is far from unexpected. I'm curious to see the dissenting opinions from the two commissioners who voted in opposition. I would presume they found this rule to be beyond the scope of the FTC's powers "to prevent unfair methods of competition." The policy debate is an interesting one that should be had in the public domain, but the overall unfairness as proscribed in the statute seems to not cover such a far-sweeping mandate. Once again, the decision reviewing Chevron at SCOTUS continues to be all the more important as to how much latitude these regulatory agencies can have in interpreting a statute. Unfairness is by all means ambiguous. Stay tuned for more updates on this front and more via Thoughts A Brewin', Thompson Burton PLLC and J.K. Simms https://lnkd.in/dT8kCdy4

A Texas federal judge has issued a nationwide injunction blocking the implementation of the FTC's noncompete ban, which would have invalidated tens of millions of existing noncompete agreements and prohibited employers from entering into or attempting to enforce any new noncompetes. "We are pleased that Judge Brown vindicated what the AHA predicted when this unlawful regulation was first released — the 'only saving grace is that this rule will likely be short-lived, with courts almost certain to stop it before it can do damage to hospitals' ability to care for their patients and communities,'" AHA General Counsel and Secretary Chad Golder said in an Aug. 20 statement shared with Becker's. The FTC told Becker's it is "disappointed" in the court's decision, which does not prevent the agency from addressing noncompetes through case-by-case enforcement actions, but it is considering a potential appeal. #noncompete #ftc #employers #facilites #employees #contracts #attorneys #lawyers #brokers #advisors #consultants

"Not So Fast" - The FTC's nationwide ban on noncompetes is on hold, following a federal court striking down the rule yesterday. The court's ruling prohibits the FTC from enforcing the noncompete ban and provides nationwide relief for employers, maintaining the status quo.     "The FTC lacks statutory authority to promulgate the noncompete rule," and its issuance of the rule was "an unlawful agency action" requiring the rule to be set aside in its entirety. "The [FTC's noncompete] rule shall not be enforced or otherwise take effect on September 4, 2024, or thereafter." - Judge Ada Brown in the U.S. District Court for the Northern District of Texas   Adams and Reese attorneys Timothy Brinks, Matt Jackson, Hunter Schoen, and Evan Gaudet discuss Judge Brown's judgment and the future of the rule. The #FTC has already said that it is "seriously considering a potential appeal."   Read more >> https://lnkd.in/gYUCJ8Wi   #NonCompeteBan #FederalTradeCommission #LaborandEmployment #FTCRule #Employers #Employees