Events & Publications
- Jan 18, 2021
- Publications
The DOJ recently announced its first civil settlement with a borrower for allegedly committing fraud in obtaining a Paycheck Protection Program (PPP) loan, in violation of the False Claims Act and the Financial Institutions Reform,…
- Dec 24, 2020
- Publications
Corporate partner Scott Barshay was quoted in a Bloomberg News article, “M&A Deals Come Roaring Back as Executives Plot Post-COVID Future,” published on December 24.
- Dec 22, 2020
- Publications
Litigation of counsel Martin Flumenbaum and firm chairman Brad Karp’s latest Second Circuit Review column, “SCOTUS Overrules Second Circuit on COVID-19 and Religious Worship,” appeared in the December 22 issue of the New York Law…
- Dec 28, 2020
- Publications
Congress recently passed the Consolidated Appropriations Act, which includes additional assistance for individuals and businesses facing COVID-19-related economic difficulties.
- Dec 14, 2020
- Publications
Litigation partner Loretta Lynch, alongside former U.S. Attorney General Alberto Gonzales, appeared on an episode of Washington Post Live. The two former U.S. Attorneys General, who co-chair the bipartisan National Commission on…
- Dec 16, 2020
- Publications
Litigation partner Alex Oh was quoted in an article, “2020 in Review: Big FCPA Numbers Despite a Pandemic,” published by the Anti-Corruption Report.
- Dec 04, 2020
- Publications
Corporate partner Andrew Parlen was quoted in an article, “What to Make of the Credit Cycle: Pros Say,” in the December 2 issue of the PETITION newsletter.
- Dec 04, 2020
- Publications
Litigation partner Meredith Dearborn published an article in Thomson Reuters Practical Law, “Civil Jury Trials in a Pandemic.”
Paul, Weiss, together with the New York State Unified Court System, announced the release of a report outlining goals and initial recommendations for the development of an online court system in New York.
- Sep 18, 2020
- Publications
Paul, Weiss Chairman Brad Karp and 176 other business leaders across New York City urged New York Governor Andrew Cuomo and New York City Mayor Bill de Blasio to collaborate with them to develop a strategic plan for New York City’s…
- Aug 11, 2020
- Publications
The District Court for the Southern District of New York issued a decision (the “Decision”) vacating parts of a temporary rule (the “Rule”) implementing the emergency family leave and paid sick leave requirements of the Families First …
- Jul 22, 2020
- Publications
The Department of Labor has issued additional guidance on critical issues regarding wage and hour, family and medical leave, discrimination, and returning furloughed employees to work as businesses reopen amid the COVID-19 pandemic.
- Jul 08, 2020
- Publications
The SEC recently approved the NYSE’s rule proposal to extend until September 30, 2020, the temporary waiver of certain requirements under the NYSE’s shareholder approval rule. The waiver applies to equity issuances to related parties…
On June 24, real estate partner Salvatore Gogliormella and associate Peter Borock gave a presentation at the request of the New York State Judicial Institute to the New York State Unified Court System’s law clerks and court attorneys.
- Jun 24, 2020
- Publications
Litigation of counsel Martin Flumenbaum and firm chairman Brad Karp’s latest Second Circuit Review column, “COVID-19 and the New York Democratic Primary,” appeared in the June 24 issue of the New York Law Journal.
- Jun 24, 2020
- Publications
The SEC’s Division of Corporation Finance provided additional guidance June 23 on disclosure matters that SEC reporting companies should consider with respect to COVID-19 and related business and market disruptions, updating guidance…
- Jun 22, 2020
- Publications
The Occupational Safety and Health Administration (OSHA) recently issued guidance for “non-essential businesses” that have reopened or are preparing to reopen. Businesses are encouraged to reopen in three phases, addressing and…
- Jun 09, 2020
- Publications
On June 8, the Fed issued revised term sheets governing the Main Street New Loan Facility, the Main Street Expanded Loan Facility and the Main Street Priority Loan Facility, together with an updated set of frequently asked questions.…
- Jun 04, 2020
- Publications
Congress recently passed the “Paycheck Protection Program Flexibility Act.” The act extends the forgiveness period and repayment deferment period for loans borrowed under the Small Business Administration’s Paycheck Protection Program …
- Jun 02, 2020
- Publications
New York City has eliminated the personal liability of individual guarantors under certain retail leases for defaults between March 7 and September 30, 2020.
- May 30, 2020
- Publications
Under the NY Forward Reopening Plan, New York State has now issued guidance for reopening Phase Two industries.
- May 29, 2020
- Publications
The Federal Reserve has issued a number of legal forms and agreements, with accompanying instructions, that must be submitted by eligible borrowers and lenders participating in the Main Street New Loan Facility, Main Street Expanded…
Litigation partner Jeh Johnson appeared on the May 26 episode of “Your World,” hosted by Neil Cavuto.
Litigation partner Jeh Johnson appeared on NBC’s “Meet The Press” on Sunday, May 24.
- May 19, 2020
- Publications
Under New York State’s reopening plan, non-essential businesses in the state’s 10 regions can begin reopening once their region meets seven metrics established to protect public health. Within each region that meets the public health…
- May 19, 2020
- Publications
The CARES Act and other COVID-19 relief measures have brought new focus on the False Claims Act, a potent tool used by the government and private whistleblowers for pursuing government fraud claims. This memo provides a primer on the …
- May 19, 2020
- Publications
The SEC approved, with immediate effect, a proposed NYSE rule change that provides NYSE-listed companies with a temporary COVID-19 exception through June 30 to the 20% shareholder approval requirement for private placements. The…
- May 13, 2020
- Publications
Real estate partners Salvatore Gogliormella and Peter Fisch’s latest transactional real estate column, “Commercial Landlord-Tenant Issues During the Pandemic,” appeared in the May 13 issue of the New York Law Journal.
- May 12, 2020
- Publications
New York Governor Andrew Cuomo recently issued an executive order that, among other things, extends moratoria on tenant evictions and mortgage foreclosures.
- May 08, 2020
- Publications
The SEC recently approved a rule change that provides Nasdaq-listed companies with a limited temporary exception to the shareholder approval requirement for private placements and a narrow related exception for an affiliate’s…
On May 6, several Paul, Weiss partners led a CLE webinar for the New York City Bar Association’s Private Investment Funds Committee. The presentation, “COVID-19 Considerations for Private Funds,” covered the fundraising environment,…
- May 07, 2020
- Publications
The IRS recently issued a notice specifying that taxpayers that receive a loan under the CARES Act’s Paycheck Protection Program may not deduct business expenses funded with PPP loan proceeds to the extent the PPP loan is forgiven.
On May 7, real estate partner Salvatore Gogliormella and associate Peter Borock gave a presentation at the request of New York Lawyers for the Public Interest and Lawyers Alliance for New York to 300 small businesses and…
- May 05, 2020
- Publications
A senior DOJ official recently stated publicly that the DOJ has initiated a preliminary inquiry into potential fraud in the CARES Act’s Paycheck Protection Program and has already found possible fraud among businesses seeking relief.
- May 04, 2020
- Publications
Firm chairman Brad Karp, litigation partner Bob Atkins and employee benefits partner Jean McLoughlin were featured in the latest episode of the Praticising Law Institute’s “Pursuing Justice: The Pro Bono Files” podcast series.
- May 01, 2020
- Publications
On April 30, the Fed issued revised term sheets for the two previously announced Main Street lending facilities, as well as a term sheet for the new Main Street Priority Loan Facility. The Fed expanded certain criteria for eligible…
- May 01, 2020
- Publications
The SEC recently brought its first enforcement action arising out of the COVID-19 pandemic. The action reaffirms the Commission’s laser focus on companies’ statements concerning, and responses to, the pandemic.
- May 01, 2020
- Publications
Many businesses forced to cancel or postpone scheduled events as a result of the COVID-19 pandemic now face an unprecedented risk of class action lawsuits. We summarize emerging trends in class action litigation and present possible…
- Apr 30, 2020
- Publications
In light of the continuing, unprecedented decline in the U.S. and global equity markets, the NYSE and the Nasdaq Stock Market recently modified their listing requirements relating to market capitalization and $1.00 minimum price (in…
- Apr 29, 2020
- Publications
Corporate partner Jeff Marell was quoted in a Bloomberg article about private equity firms investing in public companies impacted by the coronavirus pandemic.
- Apr 27, 2020
- Publications
Drawing on new guidance by the EEOC, the CDC and OSHA, we offer practical considerations for employers on navigating some of the difficult issues involved in planning and implementing a successful and safe return to the workplace.
- Apr 22, 2020
- Publications
Litigation of counsel Martin Flumenbaum and firm chairman Brad Karp’s latest Second Circuit Review column, “The Second Circuit in the COVID-19 Era,” appeared in the April 22 issue of the New York Law Journal.
- Apr 25, 2020
- Publications
The SBA has issued a new interim final rule on the PPP program, which clarifies that private equity firms and hedge funds are ineligible for PPP loans.
- Apr 25, 2020
- Publications
On April 24, the Business Roundtable released its proposed framework for the resumption of economic activity. In response to the absence of federal or state guidelines, the Business Roundtable proposed a framework for developing…
- Apr 22, 2020
- Publications
The Senate has passed the “Paycheck Protection Program and Health Care Enhancement Act” to provide up to $484 billion in additional funding for COVID-19 relief programs, including $310 billion for the Small Business Administration’s…
- Apr 20, 2020
- Publications
As a result of the COVID-19 pandemic, the 30-day period for making an Internal Revenue Code Section 83(b) election with respect to grants of restricted property has been extended to July 15, 2020.
- Apr 20, 2020
- Publications
The New Jersey WARN law requiring severance for certain terminations that was scheduled to become effective on July 19 has been delayed.
- Apr 20, 2020
- Publications
Nasdaq recently addressed some questions that Nasdaq-listed companies may have related to disruptions caused by COVID-19. Concurrently, the SEC Staff provided new guidance regarding Form 144 filing requirements in light of COVID-19…
- Apr 20, 2020
- Publications
The SEC is temporarily waiving certain requirements under the NYSE’s shareholder approval rule applicable to equity issuances to related parties and equity issuances in private placements in excess of 20%.
- Apr 17, 2020
- Publications
A new DOJ-FTC joint antitrust statement regarding COVID-19 and competition in labor markets issued April 13 is an important reminder that anticompetitive labor practices may lead to civil or even criminal liability in certain…
- Apr 10, 2020
- Publications
The Federal Reserve announced seven lending facilities that will provide up to $2.3 trillion in loans to support the economy. We summarize the new facilities and updates to the terms of the previously announced facilities.
- Apr 07, 2020
- Publications
The DOJ issued a business review letter pursuant to the recently announced expedited procedures for reviewing collaborations between businesses working to advance health and safety during the COVID-19 pandemic.
- Apr 07, 2020
- Publications
Delaware’s governor issued an emergency order permitting Delaware public corporations to re-notice or adjourn annual or special shareholder meetings as virtual-only meetings solely by a filing and a press release.
- Apr 07, 2020
- Publications
Along with a collection of other states, New York has taken action to shield health care providers from liability arising from the difficult medical decisions presented by the pandemic.
- Apr 03, 2020
- Publications
On April 2, the Small Business Administration issued an interim final rule regarding implementation of the Paycheck Protection Program and on April 3, a revised loan application form was published. The rule and revised application…
- Apr 01, 2020
- Publications
An article by the Private Funds group was published in a special issue of Private Equity International focused on COVID-19 impacts. The article, first issued as a Paul, Weiss memo, discusses proactive steps and protective measures…
- Apr 06, 2020
- Publications
The U.S. Supreme Court and other federal and state appellate courts are adjusting their practices in response to the COVID-19 pandemic. Courts are canceling arguments, postponing them, or providing for telephonic arguments and are…
Real Estate partner Salvatore Gogliormella and associate Peter Borock will deliver a presentation titled “Abandonment of Leases and Abatement of Rent during the Coronavirus Pandemic” to the Young Presidents' Organization’s Big Apple…
- Mar 29, 2020
- Publications
Litigation partner Loretta Lynch was featured in a Law360 article about her recent appointment to mediate a dispute between the Federal Defenders of New York and the Federal Bureau of Prisons.
- Mar 31, 2020
- Publications
As an update to our earlier alert, “Mitigating Securities Litigation Risks Related to the Coronavirus,” we look at key takeaways from the first two securities fraud class action filings related to COVID-19 disclosures and outline…
- Mar 31, 2020
- Publications
The DOJ and SEC have signaled an intention to focus on misconduct related specifically to the coronavirus, at least temporarily. Combined with ongoing practical limitations, that focus has slowed down traditional white-collar…
- Mar 30, 2020
- Publications
On March 26, UK regulatory bodies granted temporary relief and issued guidance to listed companies and auditors as a result of the increasing challenges posed by COVID-19.
- Mar 29, 2020
- Publications
Notwithstanding COVID-19-related market volatility and associated challenges faced by market participants, UK regulators have affirmed that the timetable for LIBOR’s anticipated cessation at the end of calendar year 2021 currently…
- Mar 27, 2020
- Publications
U.S. antitrust agencies are now resuming the practice of granting early terminations of HSR waiting periods in merger reviews. As we discussed in our memorandum last week, the FTC and DOJ temporarily suspended the practice while the…
- Mar 27, 2020
- Publications
The CARES Act makes a number of significant changes to the federal income taxation of both individual taxpayers and businesses that are generally intended to provide near-term liquidity and economic relief.
- Mar 27, 2020
- Publications
With the passage of the Coronavirus Aid, Relief, and Economic Security Act now imminent, we summarize key provisions of the emergency stimulus package, including relief for small businesses; emergency funding for companies suffering…
- Mar 26, 2020
- Publications
The CARES Act includes a new Small Business Act loan program that offers forgivable loans and waives certain affiliate aggregation requirements maintained by other SBA loans. We discuss the loan program and its implications for…
- Mar 25, 2020
- Publications
In an op-ed in The American Lawyer titled “The Legal Community Must Protect Workers and Small Businesses From Coronavirus Fallout,” firm Chairman Brad Karp discusses the need for lawyers to help those who face financial devastation as …
- Mar 26, 2020
- Publications
On March 24, the FTC’s Bureau of Competition and the DOJ’s Antitrust Division issued a Joint Statement providing guidance and expedited procedures for reviewing collaborations between businesses working to advance health and safety…
- Mar 26, 2020
- Publications
The SEC has issued a Superseding Order extending relief to Form ADV and Form PF filing and delivery obligations for which the original due date is between March 13, 2020 and June 30, 2020.
- Mar 26, 2020
- Publications
The SEC announced March 25th that it was extending filing periods covered by the conditional reporting relief announced March 4. Concurrently, the Division of Corporation Finance issued guidance and questions for reporting companies…
- Mar 25, 2020
- Publications
On March 23, SEC Division of Enforcement Co-Directors Stephanie Avakian and Steven Peikin issued a statement concerning “market integrity” in light of the unprecedented impacts of the COVID-19 pandemic.
- Mar 25, 2020
- Publications
Under an emergency regulation issued by the NY Department of Financial Services, DFS-regulated banking organizations and mortgage servicers must grant a 90-day forbearance on residential mortgage payments for New York residents who…
- Mar 25, 2020
- Publications
In recent days, state and local governments have begun requiring the closure of non-essential businesses in order to combat the coronavirus (COVID-19) pandemic, significantly affecting the ability of affected businesses and…
- Mar 25, 2020
- Publications
The current crisis is shedding light on the critical role that emerging technologies will play in the prevention and management of future pandemics. We examine the pandemic’s implications for AI, blockchain, analytics and…
Paul, Weiss has launched its Coronavirus Relief Center, an online portal that will support the millions of Americans and small businesses facing financial devastation due to the economic dislocation caused by the pandemic.
- Mar 23, 2020
- Publications
N.Y. Gov. Andrew Cuomo has issued an executive order temporarily deeming the failure of a New York-regulated bank to grant a forbearance to an individual or business in certain circumstances an “unsafe and unsound” business practice.
- Mar 23, 2020
- Publications
State governments have begun to take broad actions to make wholesale adjustments to litigation deadlines in light of the challenges presented by the COVID-19 public health emergency. We describe the procedural and substantive…
- Mar 23, 2020
- Publications
In recent days, scores of companies have either withdrawn or revised downward previously issued guidance due to the continuing adverse impacts of the COVID-19 pandemic, with most opting to withdraw. We highlight important areas to…
- Mar 23, 2020
- Publications
As a result of increasingly restrictive government public health measures, including closures of non-essential businesses and even orders to “shelter in place,” retailers across the country have begun trimming hours of operation or…
- Mar 22, 2020
- Publications
On March 20, the Internal Revenue Service issued Notice 2020 18 postponing the April 15 federal income tax payment and tax return deadline to July 15, 2020. The Notice supersedes the relief previously issued in Notice 2020-17…
- Mar 22, 2020
- Publications
As financial markets continue to exhibit extreme volatility as a result of COVID-19, related macro factors and oil price movements, managers of hedge funds, as well as other open-ended and evergreen funds, should assess challenges and …
- Mar 21, 2020
- Publications
In light of the significant economic impact of the COVID-19 pandemic upon businesses, we address the legal considerations for employers and certain employee protections in connection with reductions of employee headcount and/or…
- Mar 20, 2020
- Publications
With developments moving faster than can be captured in any single alert or memorandum, we prepared a guide to the range of issues that private equity firms and portfolio companies need to consider in navigating coronavirus (COVID-19) …
- Mar 19, 2020
- Publications
New York Governor Andrew Cuomo signed a law guaranteeing paid sick leave to certain workers directly affected by COVID-19. We summarize key provisions of the bill, including criteria for employee eligibility, qualifying employers and…
- Mar 19, 2020
- Publications
The State Department has issued a Level 4 (Do Not Travel) advisory for all travel outside the United States. It advises U.S. citizens not to travel abroad and U.S. citizens abroad who reside in the United States to return home if…
- Mar 18, 2020
- Publications
U.S. and E.U. competition agencies have announced temporary changes in their merger review procedures as a result of the COVID-19 pandemic. Significantly, the U.S. antitrust agencies will not grant any requests for early termination.…
- Mar 17, 2020
- Publications
As the coronavirus (COVID-19) pandemic continues to slow commerce, most companies face serious challenges in almost all areas of their businesses. The recent turmoil and volatility of public financial markets has resulted in many…
- Mar 17, 2020
- Publications
The Trump Administration on March 16 released new guidelines over the next 15 days in hopes of slowing the spread of COVID-19. We provide updates on new federal, state and city guidelines and address challenges for employers striving…
- Mar 17, 2020
- Publications
As the coronavirus pandemic continues to shake global markets, more companies will likely need to restructure to address liquidity constraints, right-size their balance sheets, or implement operational restructurings. Concurrently,…
- Mar 17, 2020
- Publications
As we enter the run-up to peak proxy season and with travel restrictions and “social distancing” measures increasing, companies face challenges on how to address the coronavirus (COVID-19) outbreak in the context of their annual…
- Mar 16, 2020
- Publications
The coming weeks and months are likely to bring many assertions of force majeure in response to COVID-19-related impacts. We provide an update on the most recent developments and their effect on parties’ ability to invoke force…
- Mar 14, 2020
- Publications
The UK and Ireland have been added to the existing ban on entry into the U.S. of foreign nationals who have been in any of 26 countries in Europe during the 14 days prior to their entry.
- Mar 14, 2020
- Publications
The SEC has issued an Order providing investment advisers who are unable to meet a filing deadline or delivery requirement due to circumstances related to current or potential effects of coronavirus (COVID-19) with a 45-day extension…
- Mar 13, 2020
- Publications
As the coronavirus pandemic continues, we examine its impact on executive compensation and how public company boards should structure compensation at a time of economic uncertainty and market volatility, with a particular focus on…
- Mar 12, 2020
- Publications
In an op-ed in the National Law Journal, litigation partners Jeh Johnson and Jeannie Rhee leverage their years of leadership in government service to offer guidance to general counsel and chief legal officers contending with…
- Mar 13, 2020
- Publications
As market reaction to the coronavirus outbreak leads to declining trading prices for bank loans and notes, many debt issuers and their private equity sponsors are considering repurchasing their outstanding debt to capture discount. We …
- Mar 12, 2020
- Publications
President Trump signed a proclamation restricting and suspending the entry into the United States of foreign nationals who have been within Europe’s Schengen Area during the 14 days prior to their entry. U.S. citizens and others not…
- Mar 11, 2020
- Publications
The wide-ranging and uncertain impacts of the coronavirus outbreak (COVID-19) on markets and businesses are creating a variety of challenges, as well as opportunities, for hedge funds. Hedge fund managers may want to consider a…
- Mar 11, 2020
- Publications
As peak proxy season approaches and travel restrictions and quarantines increase, companies face challenges on how to address the coronavirus (COVID-19) outbreak in the context of their annual shareholders meetings. In this memo, we…
- Mar 10, 2020
- Publications
With each day that COVID-19 grows as a threat to communities across the country, employers face unprecedented challenges and concerns. We provide a brief overview of the legal obligations relevant to employers during this public…
- Mar 10, 2020
- Publications
The cascading impacts of the coronavirus on markets and businesses are creating a variety of challenges and opportunities for private equity funds. General partners may want to consider a variety of proactive steps, including…
- Mar 10, 2020
- Publications
Attorneys general in California, New York and Washington have announced they will take action against “price gouging,” while the Antitrust Division said it will watch for collusive practices in the sale of critical public health…
- Mar 09, 2020
- Publications
New York recently declared a state of emergency in response to the spread of the coronavirus. Companies operating in New York should be mindful of how their business operations and obligations may be affected.
- Mar 06, 2020
- Publications
Currently, the impacts of the coronavirus (COVID-19) would not likely trigger the typical MAE termination right. However, this may change depending on the outbreak’s duration, disproportionate industry or company impacts and whether…
- Mar 06, 2020
- Publications
To limit the spread of COVID-19, many companies are implementing contingency plans for employees to work remotely. These steps may, however, inadvertently increase the risks of a data breach or other cyberattack. We suggest practical…
- Mar 05, 2020
- Publications
The spread of coronavirus has disrupted global businesses and triggered severe U.S. stock market declines. These events raise the risk that shareholders will convert these stock drops into litigation. We address the securities…
- Mar 04, 2020
- Publications
As the coronavirus (COVID-19) continues to spread, SEC reporting companies and their boards need to consider the impacts of the outbreak not just from business continuity and risk management perspectives, but also on their public…
- Mar 03, 2020
- Publications
The coming months are likely to bring many assertions of force majeure—contract provisions that excuse a party’s nonperformance when “acts of God” or other extraordinary events prevent a party from fulfilling its contractual…
- Feb 20, 2020
- Publications
The Securities and Exchange Commission recently addressed financial reporting considerations and potential SEC relief in light of the effects of the novel coronavirus. These effects may be important to SEC-reporting companies that…
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