On April 23, 2024, the Federal Trade Commission ("FTC"), by a 3-2 vote, approved and issued a Final Rule, set to become effective 120 days after it is published in the Federal Register.
On April 23, 2024, the Federal Trade Commission (the "FTC") issued the Non-Compete Clause Rule (the "Final Rule") that bans all new non-compete clauses with employees at all levels, including senior executives, after the effective date.
For decades, many courts and legislatures at the state and federal level have largely approved the use of non-compete covenants between employers and employees.
The Federal Trade Commission (FTC) on April 22, 2024, filed an administrative complaint to block Tapestry, Inc.'s acquisition of Capri Holdings Limited, a deal valued at $8.5 billion.
On April 23, 2024, the Federal Trade Commission, in a highly anticipated vote, passed the Non-Compete Clause Rule, 16 CFR § 910, which purports to bar all non-competes in the United States, subject to limited exceptions.