From Shen v. Commissioner, decided yesterday by the Eleventh Circuit, in an opinion by Judges Adalberto Jordan, Kevin Newsom & Nancy Abudu:
In our view, the plaintiffs/appellants have shown a substantial likelihood of success on their claim that Florida Statutes §§ 692.201–692.204 are preempted by federal law, specifically 50 U.S.C. § 4565, the Foreign Investment Risk Review Modernization Act of 2018 ("FIRRMA"), and 31 C.F.R. § 802.701….
The defendants/appellees are preliminarily enjoined from enforcing the challenged statutory provisions against Ms. Shen and Mr. Xu. The motion for a preliminary injunction is otherwise denied.
Our decision, of course, does not bind the merits panel, which will hear oral argument in April.
Judge Abudu concurred:
