The big news is that New York will not be the fifth state with a wholesale ban on noncompetes.
New York’s Governor Hochul is neither persuaded by nor hiding behind the rhetoric and political expediency of a ban of noncompetes.
Instead, as predicted, she is sticking by what she said all along: Insulate low-wage and middle-wage workers from noncompetes to protect their mobility, but recognize that noncompetes serve legitimate business purposes and can still be used for others.
Expect to see a revised bill.
More to follow as we get more information.
*Thank you Erika Hahn for finding a discussion about this from our friends at Epstein Becker & Green (our former firm), David Clark and Erik Weibust, citing to a Bloomberg article breaking the news.