View the article (pdf) The Third Circuit Court of Appeals issued its opinion affirming the District Court’s decision in its entirety with respect to a New Jersey law (the “Act”) regarding the escheat of unredeemed gift card balances. The Court first affirmed the decision to enjoin the place-of-purchase presumption created by the Act, which permitted New Jersey to escheat gift cards after two years of inactivity if the gift card was purchased in New Jersey and the address of the purchaser was not known, finding that this presumption violates the Contracts Clause of the United States Constitution and conflicts with federal common law. The Court then affirmed the decision not to enjoin the data collection requirements of the Act, which requires gift card-issuers to collect certain address information from gift card purchasers. Genova Burns represented New Jersey Retail Merchant’s Association in this matter. For further information on this matter, please contact James M. Burns, Esq. or Jennifer Borek, Esq. For the full decision, please click above.