Coronavirus (COVID-19) Resource Center
Coronavirus (COVID-19) Resource Center
The coronavirus (COVID-19) has spread to scores of countries and infected many thousands of people around the globe. We provide guidance below for boards and management in navigating this crisis and will update this page as developments warrant.
COVID-19: A Special Audio Presentation of Our Partners
Paul, Weiss is focused on providing clients with the tools they need to navigate the myriad serious business and legal impacts of the ongoing COVID-19 pandemic. In this special audio presentation, members of our Coronavirus Task Force examine the employment, cybersecurity, force majeure, M&A and public reporting ramifications of the global crisis, and highlight key considerations for boards and management. We also discuss a new pro bono initiative, the Coronavirus Relief Center, aimed at helping vulnerable individuals to find and access emergency relief.
COVID-19 Ramifications: Featured Topics
If you would like to listen to parts of the presentation addressing a particular subject, please find a list of topics and speakers below.
Preparing Your Business for Crisis
Litigation Partners Jeh Johnson and Jeannie Rhee
Applicability of Force Majeure Provisions in Contracts
Firm Chairman Brad Karp
Impacts on Public M&A
Corporate Partners Jeffrey Marell and Rachael Coffey
SEC Developments and Annual Meeting Impact
Corporate Partner Mark Bergman
Employment Law Considerations
Litigation Partner Liza Velazquez
Cybersecurity Implications
Litigation Partner Richard C. Tarlowe
Pro Bono Relief Program Initiative
Firm Chairman Brad Karp
Events & Publications
AABANY and Paul, Weiss Publish Report on Rise in Anti-Asian Violence During COVID-19
- Feb 10, 2021
- Publications
AABANY and Paul, Weiss Publish Report on Rise in Anti-Asian Violence During COVID-19
Paul, Weiss, in collaboration with the Asian American Bar Association of New York (AABANY), published a report on the COVID-19 pandemic’s impact on the Asian-American community.
COVID-19 Update: OSHA Issues New COVID-19 Guidance as Directed by President Biden’s Executive Order
- Feb 04, 2021
- Publications
COVID-19 Update: OSHA Issues New COVID-19 Guidance as Directed by President Biden’s Executive Order
As directed by President Biden, the Occupational Safety and Health Administration (OSHA) has issued updated guidance on mitigating and preventing the spread of COVID-19 in the workplace. The OSHA guidance includes recommendations on…
DOJ Announces First False Claims Act Settlement with Borrower and its CEO for PPP Fraud
- Jan 18, 2021
- Publications
DOJ Announces First False Claims Act Settlement with Borrower and its CEO for PPP Fraud
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,…
Scott Barshay Quoted in Bloomberg News Article on 2020 M&A Trends and Outlook
- Dec 24, 2020
- Publications
Scott Barshay Quoted in Bloomberg News Article on 2020 M&A Trends and Outlook
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.
Second Circuit Review: SCOTUS Overrules Second Circuit on COVID-19 and Religious Worship
- Dec 22, 2020
- Publications
Second Circuit Review: SCOTUS Overrules Second Circuit on COVID-19 and Religious Worship
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…
PPP Update: Latest COVID-19 Relief Legislation Includes Extension of Paycheck Protection Program and Establishes Second Draw Loans
- Dec 28, 2020
- Publications
PPP Update: Latest COVID-19 Relief Legislation Includes Extension of Paycheck Protection Program and Establishes Second Draw Loans
Congress recently passed the Consolidated Appropriations Act, which includes additional assistance for individuals and businesses facing COVID-19-related economic difficulties.
Loretta Lynch Appears on Washington Post Live’s “Race in America: Criminal Justice Reform”
- Dec 14, 2020
- Publications
Loretta Lynch Appears on Washington Post Live’s “Race in America: Criminal Justice Reform”
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…
Alex Oh Quoted in the Anti-Corruption Report
- Dec 16, 2020
- Publications
Alex Oh Quoted in the Anti-Corruption Report
Litigation partner Alex Oh was quoted in an article, “2020 in Review: Big FCPA Numbers Despite a Pandemic,” published by the Anti-Corruption Report.
Andrew Parlen Quoted in Article on Current Trends in the Credit Cycle
- Dec 04, 2020
- Publications
Andrew Parlen Quoted in Article on Current Trends in the Credit Cycle
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.
Thomson Reuters Practical Law: Civil Jury Trials in a Pandemic
- Dec 04, 2020
- Publications
Thomson Reuters Practical Law: Civil Jury Trials in a Pandemic
Litigation partner Meredith Dearborn published an article in Thomson Reuters Practical Law, “Civil Jury Trials in a Pandemic.”
Paul, Weiss and the Commission to Reimagine the Future of New York’s Courts Release First Report and Recommendations on Online Courts
- Nov 17, 2020
- Firm News
Paul, Weiss and the Commission to Reimagine the Future of New York’s Courts Release First Report and Recommendations on Online Courts
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.
Paul, Weiss is Signatory in Partnership for New York City Letter to Governor and Mayor Urging Multi-Sector Initiative Focused on Strategic Recovery of City
- Sep 18, 2020
- Publications
Paul, Weiss is Signatory in Partnership for New York City Letter to Governor and Mayor Urging Multi-Sector Initiative Focused on Strategic Recovery of City
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…
COVID-19 Update: New York Federal Court Vacates Parts of Families First Coronavirus Response Act Regulation
- Aug 11, 2020
- Publications
COVID-19 Update: New York Federal Court Vacates Parts of Families First Coronavirus Response Act Regulation
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 …
COVID-19 Update: Additional Department of Labor Guidance on Wage and Hour Rules and Family and Medical Leave as Workplaces Reopen
- Jul 22, 2020
- Publications
COVID-19 Update: Additional Department of Labor Guidance on Wage and Hour Rules and Family and Medical Leave as Workplaces Reopen
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.
COVID-19 Update for Public Companies: Status of Temporary Relief
- Jul 08, 2020
- Publications
COVID-19 Update for Public Companies: Status of Temporary Relief
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…
Paul, Weiss Real Estate Team Provides COVID-19 Guidance to New York State Judicial Institute
- Jun 24, 2020
- Events
Paul, Weiss Real Estate Team Provides COVID-19 Guidance to New York State Judicial Institute
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.
Second Circuit Review: COVID-19 and the New York Democratic Primary
- Jun 24, 2020
- Publications
Second Circuit Review: COVID-19 and the New York Democratic Primary
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.
SEC Staff Issues Additional COVID-19 Disclosure Guidance
- Jun 24, 2020
- Publications
SEC Staff Issues Additional COVID-19 Disclosure Guidance
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…
COVID-19 Update: OSHA and EEOC Guidance on Returning to Work
- Jun 22, 2020
- Publications
COVID-19 Update: OSHA and EEOC Guidance on Returning to Work
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…
UPDATE: Federal Reserve Issues Revised Term Sheets for Main Street Lending Facilities
- Jun 09, 2020
- Publications
UPDATE: Federal Reserve Issues Revised Term Sheets for Main Street Lending Facilities
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.…
Congress Approves the Paycheck Protection Program Flexibility Act
- Jun 04, 2020
- Publications
Congress Approves the Paycheck Protection Program Flexibility Act
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 …
UPDATE: New York City Eliminates Personal Liability of Individual Guarantors under Certain Retail Leases, for Payment Defaults Occurring during the Coronavirus Pandemic
- Jun 02, 2020
- Publications
UPDATE: New York City Eliminates Personal Liability of Individual Guarantors under Certain Retail Leases, for Payment Defaults Occurring during the Coronavirus Pandemic
New York City has eliminated the personal liability of individual guarantors under certain retail leases for defaults between March 7 and September 30, 2020.
COVID-19 Update: New York State and CDC Guidance for Employers Reopening Offices
- May 30, 2020
- Publications
COVID-19 Update: New York State and CDC Guidance for Employers Reopening Offices
Under the NY Forward Reopening Plan, New York State has now issued guidance for reopening Phase Two industries.
UPDATE: Federal Reserve Issues Updated Guidance and Publishes Legal Forms and Agreements for Main Street Lending Facilities
- May 29, 2020
- Publications
UPDATE: Federal Reserve Issues Updated Guidance and Publishes Legal Forms and Agreements for Main Street Lending Facilities
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…
Secretary Johnson Appears on Fox News Channel’s “Your World”
- May 26, 2020
- Events
Secretary Johnson Appears on Fox News Channel’s “Your World”
Litigation partner Jeh Johnson appeared on the May 26 episode of “Your World,” hosted by Neil Cavuto.
Secretary Johnson Appears on “Meet the Press”
- May 24, 2020
- Events
Secretary Johnson Appears on “Meet the Press”
Litigation partner Jeh Johnson appeared on NBC’s “Meet The Press” on Sunday, May 24.
COVID-19 Update: New York State Guidance on Reopening Businesses
- May 19, 2020
- Publications
COVID-19 Update: New York State Guidance on Reopening Businesses
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…
False Claims Act Liability in the Age of COVID-19
- May 19, 2020
- Publications
False Claims Act Liability in the Age of COVID-19
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 …
COVID-19 Update for Public Companies: NYSE Provides Temporary Relief for the 20% Shareholder Approval Requirement
- May 19, 2020
- Publications
COVID-19 Update for Public Companies: NYSE Provides Temporary Relief for the 20% Shareholder Approval Requirement
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…
Transactional Real Estate: Commercial Landlord-Tenant Issues During the Pandemic
- May 13, 2020
- Publications
Transactional Real Estate: Commercial Landlord-Tenant Issues During the Pandemic
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.
UPDATE: New York State Extends Eviction and Foreclosure Moratoria, and Provides Certain Additional Benefits to Residential Tenants, During the Coronavirus Pandemic
- May 12, 2020
- Publications
UPDATE: New York State Extends Eviction and Foreclosure Moratoria, and Provides Certain Additional Benefits to Residential Tenants, During the Coronavirus Pandemic
New York Governor Andrew Cuomo recently issued an executive order that, among other things, extends moratoria on tenant evictions and mortgage foreclosures.
COVID-19 Update for Public Companies: Nasdaq Provides Temporary Relief as to the 20% Shareholder Approval Requirement
- May 08, 2020
- Publications
COVID-19 Update for Public Companies: Nasdaq Provides Temporary Relief as to the 20% Shareholder Approval Requirement
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…
Paul, Weiss Partners Lead COVID-19 Presentation to NYCBA’s Private Investment Funds Committee
- May 06, 2020
- Events
Paul, Weiss Partners Lead COVID-19 Presentation to NYCBA’s Private Investment Funds Committee
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,…
CARES Act Update: Internal Revenue Service Disallows Deduction of Certain Expenses Funded with PPP Loan Proceeds
- May 07, 2020
- Publications
CARES Act Update: Internal Revenue Service Disallows Deduction of Certain Expenses Funded with PPP Loan Proceeds
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.
Paul, Weiss Real Estate Team Provides COVID-19 Guidance to 300 Small Businesses and Not-For-Profits
- May 07, 2020
- Events
Paul, Weiss Real Estate Team Provides COVID-19 Guidance to 300 Small Businesses and Not-For-Profits
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…
DOJ Announces Preliminary Inquiry into Potential Fraud in the Paycheck Protection Program
- May 05, 2020
- Publications
DOJ Announces Preliminary Inquiry into Potential Fraud in the Paycheck Protection Program
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.
Brad Karp, Bob Atkins and Jean McLoughlin Discuss Paul, Weiss’s Pro Bono Response to the Coronavirus Pandemic on PLI Pro Bono-Focused Podcast
- May 04, 2020
- Publications
Brad Karp, Bob Atkins and Jean McLoughlin Discuss Paul, Weiss’s Pro Bono Response to the Coronavirus Pandemic on PLI Pro Bono-Focused Podcast
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.
UPDATE: Federal Reserve Issues Revised Term Sheets and Guidance for Main Street Lending Facilities, Announces New Main Street Priority Lending Facility
- May 01, 2020
- Publications
UPDATE: Federal Reserve Issues Revised Term Sheets and Guidance for Main Street Lending Facilities, Announces New Main Street Priority Lending Facility
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…
SEC Charges Company with COVID-19-Related Securities Fraud, Reaffirming its Focus on Public Statements and Disclosures Relating to COVID-19
- May 01, 2020
- Publications
SEC Charges Company with COVID-19-Related Securities Fraud, Reaffirming its Focus on Public Statements and Disclosures Relating to COVID-19
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.
Class Actions Target Ticket and Membership Refunds in the Wake of COVID-19
- May 01, 2020
- Publications
Class Actions Target Ticket and Membership Refunds in the Wake of COVID-19
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…
COVID-19 Update for Public Companies: Nasdaq and NYSE Tolling Periods
- Apr 30, 2020
- Publications
COVID-19 Update for Public Companies: Nasdaq and NYSE Tolling Periods
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…
Jeff Marell Quoted in Bloomberg on PIPE Investments During the COVID-19 Pandemic
- Apr 29, 2020
- Publications
Jeff Marell Quoted in Bloomberg on PIPE Investments During the COVID-19 Pandemic
Corporate partner Jeff Marell was quoted in a Bloomberg article about private equity firms investing in public companies impacted by the coronavirus pandemic.
COVID-19 Update: Practical Considerations for Employers as They Prepare for a Return to the Workplace
- Apr 27, 2020
- Publications
COVID-19 Update: Practical Considerations for Employers as They Prepare for a Return to the Workplace
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.
Second Circuit Review: The Second Circuit in the COVID-19 Era
- Apr 22, 2020
- Publications
Second Circuit Review: The Second Circuit in the COVID-19 Era
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.
CARES Act UPDATE: SBA Issues Additional Paycheck Protection Program Guidance, Including for Private Equity Firms and Hedge Funds
- Apr 25, 2020
- Publications
CARES Act UPDATE: SBA Issues Additional Paycheck Protection Program Guidance, Including for Private Equity Firms and Hedge Funds
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.
Business Roundtable Releases Roadmap for Resumption of Economic Activity
- Apr 25, 2020
- Publications
Business Roundtable Releases Roadmap for Resumption of Economic Activity
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…
Senate Approves $310 Billion in Additional Funding for the Paycheck Protection Program
- Apr 22, 2020
- Publications
Senate Approves $310 Billion in Additional Funding for the Paycheck Protection Program
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…
Internal Revenue Code Section 83(b) Deadline Extended to July 15, 2020 as a Result of COVID-19
- Apr 20, 2020
- Publications
Internal Revenue Code Section 83(b) Deadline Extended to July 15, 2020 as a Result of COVID-19
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.
COVID-19 Update: NJ WARN Enhanced Severance and Notice Requirements for Lay-Offs Delayed Until 90 Days After State of Emergency Lifted
- Apr 20, 2020
- Publications
COVID-19 Update: NJ WARN Enhanced Severance and Notice Requirements for Lay-Offs Delayed Until 90 Days After State of Emergency Lifted
The New Jersey WARN law requiring severance for certain terminations that was scheduled to become effective on July 19 has been delayed.
COVID-19 Update: SEC and Nasdaq Response and Updated SEC C&DIs
- Apr 20, 2020
- Publications
COVID-19 Update: SEC and Nasdaq Response and Updated SEC C&DIs
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…
COVID-19 Update: NYSE Shareholder Approval for Related Party and 20% Issuances Temporarily Waived and Minimum Market Capitalization Standard Temporarily Suspended
- Apr 20, 2020
- Publications
COVID-19 Update: NYSE Shareholder Approval for Related Party and 20% Issuances Temporarily Waived and Minimum Market Capitalization Standard Temporarily Suspended
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%.
DOJ and FTC Issue Warning on Anticompetitive Conduct Affecting Labor Markets During the COVID-19 Pandemic
- Apr 17, 2020
- Publications
DOJ and FTC Issue Warning on Anticompetitive Conduct Affecting Labor Markets During the COVID-19 Pandemic
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…
Federal Reserve Announces Seven New or Updated Lending Facilities, Including Main Street Lending Facilities
- Apr 10, 2020
- Publications
Federal Reserve Announces Seven New or Updated Lending Facilities, Including Main Street Lending Facilities
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.
DOJ Issues Expedited Antitrust Guidance Regarding COVID-19 Equipment and Medication Distribution Collaboration
- Apr 07, 2020
- Publications
DOJ Issues Expedited Antitrust Guidance Regarding COVID-19 Equipment and Medication Distribution Collaboration
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.
Delaware Governor Issues Emergency Order Permitting Notice of Virtual-Only Shareholder Meetings by Exchange Act Filing and Press Release
- Apr 07, 2020
- Publications
Delaware Governor Issues Emergency Order Permitting Notice of Virtual-Only Shareholder Meetings by Exchange Act Filing and Press Release
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.
New York State Governor Signs Law Protecting Health Care Workers, Facilities and Administrators from COVID-19-Related Liability
- Apr 07, 2020
- Publications
New York State Governor Signs Law Protecting Health Care Workers, Facilities and Administrators from COVID-19-Related Liability
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.
CARES Act UPDATE: SBA Issues Interim Final Rule for Paycheck Protection Program
- Apr 03, 2020
- Publications
CARES Act UPDATE: SBA Issues Interim Final Rule for Paycheck Protection Program
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…
Funds Group COVID-19 Alert and Survey of Private Equity Fund Terms Published in PEI
- Apr 01, 2020
- Publications
Funds Group COVID-19 Alert and Survey of Private Equity Fund Terms Published in PEI
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…
Appellate Litigation in the Age of COVID-19
- Apr 06, 2020
- Publications
Appellate Litigation in the Age of COVID-19
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…
Salvatore Gogliormella and Peter Borock to Speak to YPO Big Apple Gold Chapter
- Apr 06, 2020
- Events
Salvatore Gogliormella and Peter Borock to Speak to YPO Big Apple Gold Chapter
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…
Loretta Lynch’s Appointment as Mediator in Brooklyn Prison Lawsuit Featured in Law360
- Mar 29, 2020
- Publications
Loretta Lynch’s Appointment as Mediator in Brooklyn Prison Lawsuit Featured in Law360
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.
Update: Mitigating Securities Litigation Risks Related to the Coronavirus
- Mar 31, 2020
- Publications
Update: Mitigating Securities Litigation Risks Related to the Coronavirus
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…
White-Collar Enforcement Priorities in the Wake of COVID-19
- Mar 31, 2020
- Publications
White-Collar Enforcement Priorities in the Wake of COVID-19
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…
Joint Statement by the FCA, FRC and PRA Regarding Capital Markets Reporting in Light of Recent COVID-19 Developments
- Mar 30, 2020
- Publications
Joint Statement by the FCA, FRC and PRA Regarding Capital Markets Reporting in Light of Recent COVID-19 Developments
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.
COVID-19: LIBOR 2021 Cessation Timing Unchanged Though Planning Delays Expected
- Mar 29, 2020
- Publications
COVID-19: LIBOR 2021 Cessation Timing Unchanged Though Planning Delays Expected
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…
An Update on Merger Review During the COVID-19 Coronavirus Outbreak: Early Terminations to Resume
- Mar 27, 2020
- Publications
An Update on Merger Review During the COVID-19 Coronavirus Outbreak: Early Terminations to Resume
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…
CARES Act: Federal Income Tax Relief for Individuals and Businesses in Response to the Coronavirus Pandemic
- Mar 27, 2020
- Publications
CARES Act: Federal Income Tax Relief for Individuals and Businesses in Response to the Coronavirus Pandemic
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.
Key Provisions of the “Phase Three” COVID-19 Stimulus Package
- Mar 27, 2020
- Publications
Key Provisions of the “Phase Three” COVID-19 Stimulus Package
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…
CARES Act to Expand Access to the SBA Loan Program
- Mar 26, 2020
- Publications
CARES Act to Expand Access to the SBA Loan Program
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…
Brad Karp Publishes Op-Ed in The American Lawyer
- Mar 25, 2020
- Publications
Brad Karp Publishes Op-Ed in The American Lawyer
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 …
Antitrust Guidance for Business Collaborations to Combat COVID-19
- Mar 26, 2020
- Publications
Antitrust Guidance for Business Collaborations to Combat COVID-19
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…
COVID-19 UPDATE: SEC Extends Relief to Form ADV and Form PF Filing and Delivery Obligations Due On or Before June 30th
- Mar 26, 2020
- Publications
COVID-19 UPDATE: SEC Extends Relief to Form ADV and Form PF Filing and Delivery Obligations Due On or Before June 30th
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.
SEC Extends Conditional Reporting Relief; CorpFin Staff Issues COVID-19 Disclosure Guidance
- Mar 26, 2020
- Publications
SEC Extends Conditional Reporting Relief; CorpFin Staff Issues COVID-19 Disclosure Guidance
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…
SEC Enforcement Co-Directors Issue Statement on Potential Insider Trading and Selective Disclosure Risks Related to COVID-19
- Mar 25, 2020
- Publications
SEC Enforcement Co-Directors Issue Statement on Potential Insider Trading and Selective Disclosure Risks Related to COVID-19
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.
New York DFS Issues Emergency Regulation on Mortgage Forbearance and Certain Fees in Response to COVID-19 Pandemic
- Mar 25, 2020
- Publications
New York DFS Issues Emergency Regulation on Mortgage Forbearance and Certain Fees in Response to COVID-19 Pandemic
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…
UPDATE: New York State Legislature Considers Bill Affecting Certain Rents and Mortgage Payments During the Coronavirus Pandemic
- Mar 25, 2020
- Publications
UPDATE: New York State Legislature Considers Bill Affecting Certain Rents and Mortgage Payments During the Coronavirus Pandemic
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…
Emerging Technologies in the Age of Coronavirus
- Mar 25, 2020
- Publications
Emerging Technologies in the Age of Coronavirus
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 Launches Online Coronavirus Relief Center to Help Those Impacted Financially by Pandemic
- Mar 25, 2020
- Firm News
Paul, Weiss Launches Online Coronavirus Relief Center to Help Those Impacted Financially by Pandemic
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.
Gov. Cuomo Requires New York-Regulated Banks to Grant Forbearances in Light of the COVID-19 Pandemic and Issues Related Directives to NY DFS
- Mar 23, 2020
- Publications
Gov. Cuomo Requires New York-Regulated Banks to Grant Forbearances in Light of the COVID-19 Pandemic and Issues Related Directives to NY DFS
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.
New York and Delaware Take Steps to Toll Limitations Periods and Extend Other Deadlines in Light of COVID-19 Emergency
- Mar 23, 2020
- Publications
New York and Delaware Take Steps to Toll Limitations Periods and Extend Other Deadlines in Light of COVID-19 Emergency
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…
COVID-19: Withdrawing or Revising Earnings Guidance
- Mar 23, 2020
- Publications
COVID-19: Withdrawing or Revising Earnings Guidance
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…
Abandonment of Leases and Abatement of Rent During the Coronavirus Pandemic
- Mar 23, 2020
- Publications
Abandonment of Leases and Abatement of Rent During the Coronavirus Pandemic
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…
Internal Revenue Service Postpones April 15 Federal Income Tax Payment and Tax Return Filing Deadlines
- Mar 22, 2020
- Publications
Internal Revenue Service Postpones April 15 Federal Income Tax Payment and Tax Return Filing Deadlines
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…
COVID-19: Certain Consideration for Open-Ended Fund Managers; Looking at 3/31, and Beyond
- Mar 22, 2020
- Publications
COVID-19: Certain Consideration for Open-Ended Fund Managers; Looking at 3/31, and Beyond
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 …
COVID-19: Layoff and Furlough Considerations for Employers
- Mar 21, 2020
- Publications
COVID-19: Layoff and Furlough Considerations for Employers
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…
COVID-19: Certain Considerations for Private Equity Firms and Portfolio Companies
- Mar 20, 2020
- Publications
COVID-19: Certain Considerations for Private Equity Firms and Portfolio Companies
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) …
New York Passes Emergency Paid Sick Leave Law for COVID-19 Relief
- Mar 19, 2020
- Publications
New York Passes Emergency Paid Sick Leave Law for COVID-19 Relief
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…
U.S. State Department Issues Unprecedented Global Travel Advisory
- Mar 19, 2020
- Publications
U.S. State Department Issues Unprecedented Global Travel Advisory
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…
Merger Review During the COVID-19 Coronavirus Outbreak
- Mar 18, 2020
- Publications
Merger Review During the COVID-19 Coronavirus Outbreak
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.…
The Coronavirus: Certain Considerations for Public Companies
- Mar 17, 2020
- Publications
The Coronavirus: Certain Considerations for Public Companies
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…
Coronavirus: Updated Guidance for Employers Issued by Federal, State, and City Agencies
- Mar 17, 2020
- Publications
Coronavirus: Updated Guidance for Employers Issued by Federal, State, and City Agencies
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…
Coronavirus Pandemic Portends Heightened Risk of Financial Distress, Potential Changes in Restructuring Market
- Mar 17, 2020
- Publications
Coronavirus Pandemic Portends Heightened Risk of Financial Distress, Potential Changes in Restructuring Market
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,…
UPDATE: The Coronavirus’ Impacts on Your Annual Meeting
- Mar 17, 2020
- Publications
UPDATE: The Coronavirus’ Impacts on Your Annual Meeting
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…
UPDATE: Force Majeure Under the Coronavirus (COVID-19) Pandemic
- Mar 16, 2020
- Publications
UPDATE: Force Majeure Under the Coronavirus (COVID-19) Pandemic
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…
Ban on Travel from Europe: Additional Details Are Released; the UK and Ireland Are Added to the List
- Mar 14, 2020
- Publications
Ban on Travel from Europe: Additional Details Are Released; the UK and Ireland Are Added to the List
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.
SEC Provides Investment Advisers Whose Operations Are Disrupted by Coronavirus with Extensions for Form ADV and Form PF
- Mar 14, 2020
- Publications
SEC Provides Investment Advisers Whose Operations Are Disrupted by Coronavirus with Extensions for Form ADV and Form PF
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…
The Impact of COVID-19 on Performance-Based Compensation Programs
- Mar 13, 2020
- Publications
The Impact of COVID-19 on Performance-Based Compensation Programs
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…
Secretary Johnson and Jeannie Rhee Discuss Coronavirus Preparedness in National Law Journal Op-Ed
- Mar 12, 2020
- Publications
Secretary Johnson and Jeannie Rhee Discuss Coronavirus Preparedness in National Law Journal Op-Ed
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…
COVID-19: Debt Buyback Considerations
- Mar 13, 2020
- Publications
COVID-19: Debt Buyback Considerations
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 …
The United States Imposes a Ban on Travel from Schengen Area Countries
- Mar 12, 2020
- Publications
The United States Imposes a Ban on Travel from Schengen Area Countries
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…
COVID-19: Certain Considerations for Hedge Fund Managers
- Mar 11, 2020
- Publications
COVID-19: Certain Considerations for Hedge Fund Managers
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…
The Coronavirus’ Impacts on Your Annual Meeting
- Mar 11, 2020
- Publications
The Coronavirus’ Impacts on Your Annual Meeting
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…
Coronavirus: Employment Law Considerations and Practical Guidance for Employers
- Mar 10, 2020
- Publications
Coronavirus: Employment Law Considerations and Practical Guidance for Employers
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…
COVID-19: Certain Fund-Related Considerations for Private Equity Managers
- Mar 10, 2020
- Publications
COVID-19: Certain Fund-Related Considerations for Private Equity Managers
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…
State AGs Respond to COVID-19-Related “Price Gouging” and DOJ Antitrust Enforcement to Focus on Public Health Products
- Mar 10, 2020
- Publications
State AGs Respond to COVID-19-Related “Price Gouging” and DOJ Antitrust Enforcement to Focus on Public Health Products
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…
What Does New York’s Declaration of a State of Emergency Mean for Business?
- Mar 09, 2020
- Publications
What Does New York’s Declaration of a State of Emergency Mean for Business?
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.
Is the Coronavirus a Material Adverse Effect?
- Mar 06, 2020
- Publications
Is the Coronavirus a Material Adverse Effect?
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…
Mitigating Cybersecurity Risks Related to the Coronavirus
- Mar 06, 2020
- Publications
Mitigating Cybersecurity Risks Related to the Coronavirus
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…
Mitigating Securities Litigation Risks Related to the Coronavirus
- Mar 05, 2020
- Publications
Mitigating Securities Litigation Risks Related to the Coronavirus
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…
SEC Reporting Companies: Considering the Impact of the Coronavirus on Public Disclosure and Other Obligations
- Mar 04, 2020
- Publications
SEC Reporting Companies: Considering the Impact of the Coronavirus on Public Disclosure and Other Obligations
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…
Force Majeure in the Wake of the Coronavirus (COVID-19)
- Mar 03, 2020
- Publications
Force Majeure in the Wake of the Coronavirus (COVID-19)
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…
SEC Issues a Statement on Coronavirus Reporting Considerations and Potential Relief
- Feb 20, 2020
- Publications
SEC Issues a Statement on Coronavirus Reporting Considerations and Potential Relief
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…
Awards & Recognition
Brad Karp Interviewed by NYLJ for 2020 Innovation Award
- Oct 20, 2020
- Awards
Brad Karp Interviewed by NYLJ for 2020 Innovation Award
Firm chairman and litigation partner Brad Karp was interviewed by the New York Law Journal as part of the publication’s recognition of the firm for a 2020 “Innovation” award.
Paul, Weiss Wins NYLJ’s 2020 Innovation Award
- Jun 26, 2020
- Awards
Paul, Weiss Wins NYLJ’s 2020 Innovation Award
Paul, Weiss has been recognized with the New York Law Journal’s 2020 “Innovation Award” as part of the publication’s annual Professional Excellence Awards.
Paul, Weiss Chair Brad Karp Highlights Challenges to Global Legal Industry in The Lawyer’s “U.S. Top 50 2020 Report”
- Jun 17, 2020
- Awards
Paul, Weiss Chair Brad Karp Highlights Challenges to Global Legal Industry in The Lawyer’s “U.S. Top 50 2020 Report”
Paul, Weiss chair Brad Karp marked the publication of The Lawyer’s “U.S. Top 50 2020 Report” by offering, via video, his view of the current global challenges shaping the legal industry.