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ASBCA Holds that Transmission Emails are "Part of the Same Transaction" as Mods for Plain Meaning Purposes

Client Alert | 1 min read | 05.24.19

Can contractors reserve rights in a transmission email while executing a contract modification that is silent on such reservation? The ASBCA recently affirmed again that yes, contractors can. In NMS Management, Inc., ASBCA No. 61519 (Apr. 11, 2019), a dispute over the “improper attempt at a partial exercise” of an option period, the ASBCA rejected the Government’s argument that NMS was strictly bound by the terms of a signed bilateral modification – viewed in isolation – because NMS’s accompanying transmission email stated that it was signing under protest. The ASBCA clarified the plain meaning rule by citing precedent that the “interpretation of a contract as a whole requires consideration of all documents that are part of the same transaction together.” The Board held that “the [transmission] email dispels any notion that Modification No. P00011 is the only writing to consider when evaluating the legal consequences of the modification.”

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Client Alert | 3 min read | 09.13.24

SEC Disbands its Climate and ESG Enforcement Task Force

The Securities and Exchange Commission (SEC) has reportedly recently dissolved its Climate and ESG Enforcement Task Force (the Task Force). The Task Force was part of SEC Chair Gary Gensler’s broader push to increase investors’ access to environmental, social, and governance (“ESG”) information about public companies and registered investment companies. The dissolution of the Climate and ESG Enforcement Task Force comes after three years marked by industry resistance and a mixed record in the courts. Prior to the Task Force’s dissolution, the agency removed ESG from its annual Examination Priorities Report, which provides areas of particular focus during SEC examinations. While the Task Force has been dissolved, the SEC is still pursuing a number of its proposed ESG and climate-related rules....