On May 20, 2026, the U.S. Department of Justice (DOJ) announced a settlement under the False Claims Act (FCA) with two Canada-based steel companies, Farjess Inc. and Royal Canadian Steel Inc., and their part-owner and president, Feroz Jessani, pursuant to which the companies and Jessani agreed to pay $19 million to resolve allegations that they…

On May 7, 2026, the Department of War (DoW) published a proposed rule that would dramatically expand the population of defense contractors that are required to disclose beneficial ownership and foreign ownership, control, or influence (FOCI) information to the Defense Counterintelligence and Security Agency (DCSA) and to mitigate identified FOCI risks. At present, DCSA addresses FOCI only when a contractor requires access to classified information in the performance of a classified contract. The proposed rule, which amends the Defense Federal Acquisition Regulation Supplement (DFARS), would require reporting and mitigation of FOCI for DoW contractors and subcontractors that seek to perform on unclassified non-commercial contracts, as well as certain unclassified commercial contracts. The proposed rule would apply to DoW contracts and subcontracts valued in excess of $5 million and implements provisions of the National Defense Authorization Acts (NDAAs) for Fiscal Years 2020 and 2021 and DoD Instruction 5205.87.

The comment period closes on July 6, 2026. If finalized, DoW estimates that, when offerors and subcontractors are taken into account, the rule would impact over 37,000 entities, of which approximately 57% are small businesses. This alert summarizes the key provisions of the proposed rule, analyzes the practical implications for federal contractors and subcontractors, and outlines recommended steps for compliance.

On May 19, 2026, Virginia Gov. Abigail Spanberger announced that she intends to veto what would have been Virginia’s first class action statute. Virginia and Mississippi remain the only two states without a class action mechanism.

Class actions in Virginia had been discussed for some time, and with Democratic majorities in both chambers and a…

PART 1: Representations & Warranties Insurance in Today’s Deal Market: Why It Matters More Than Ever

Introduction

Representations and warranties insurance (“RWI”) has rapidly evolved from a niche product used in select transactions to a near-standard feature in middle-market private equity deals. What was once viewed as an optional risk-transfer tool is now often a…

On April 30, 2026, President Trump signed an Executive Order titled “Promoting Efficiency, Accountability, and Performance in Federal Contracting” (the “Order”), directing executive branch agencies to default to fixed-price contracts and contracts that tie contractor profit to performance-based metrics in federal procurement. The Order also requires agencies to review and, to the maximum extent practicable, modify, restructure, or renegotiate their largest non-fixed-price contracts. For context, a companion White House Fact Sheet states that in Fiscal Year 2024, approximately $120 billion was obligated on cost-reimbursement consulting contracts, underscoring the scale of the shift the Order contemplates.

This alert summarizes the key provisions of the Order, analyzes its practical implications for federal contractors and subcontractors, and outlines recommended steps for compliance.

Brightstar Capital Partners has announced an investment in Simon Eye Holdings.

Simon Eye, founded in 1987 and based in Wilmington, Delaware, is an integrated vision care platform providing optometry, optical and ophthalmology services across the Mid-Atlantic region.

Brightstar, founded in 2015 and with headquarters in New York and West Palm Beach, Florida, is…