New IRS Guidance on Basis Adjustments for Irrevocable Grantor Trusts: Key Issues for U.S. and Non-U.S. Persons

Enacted in 2022, MoCRA completely overhauled the way the FDA regulates cosmetics, adding many new requirements, including requiring adverse event reporting and record keeping, labeling requirements, safety substantiation, and records access. These new mandates mean that companies must change how they manage the entire manufacturing, marketing, and sale process. Attempts to comply with and implement MoCRA create opportunities for missteps and offer fertile ground for class action litigation.

Private litigants are increasingly using state laws to enforce alleged violations of the federal Food, Drug, and Cosmetics Act. As more states outlaw specific ingredients, this activity is expected to increase. A number of class lawsuits have sought damages for implied drug claims and misbranded drugs (unapproved drug) because products allegedly did not conform to an FDA monograph.

Whether pursuing or defending class actions against cosmetics manufacturers, counsel must understand common and emerging liability theories and be able to navigate issues of predominance, standing, causation, and more. Further, defense counsel will want to help their industry clients take proactive steps to minimize the likelihood of class claims.

Listen as our authoritative panel of class action attorneys discusses how MoCRA is impacting class actions against cosmetic companies and best practices for minimizing liability exposure.