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The Force May Be With You: COVID-19 and Force Majeure Provisions

COVID-19 has caused major disruption to businesses, commerce and the financial markets. With the CDC and WHO projecting that the coronavirus is only in its early stages in the United States, businesses and individuals may feel the burden of the effects of COVID-19 for the foreseeable future. As the flow of goods and services continues…

Client Alerts | March 31, 2020 | Securities and Corporate Finance | Commercial and Corporate Litigation

Material Corporate Provisions of the CARES Act

In response to the recent outbreak of a novel coronavirus, COVID-19, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) into law on Friday, March 27, 2020. The CARES Act provides (I) unemployment assistance, (II) limits on paid leave requirements that were established in the Families First Coronavirus Response Act…

Client Alerts | March 30, 2020 | Securities and Corporate Finance | Mergers & Acquisitions

Helping Clients Navigate COVID-19 (Updating)

Kleinberg Kaplan is working closely with our clients to provide counsel and guidance during these unprecedented times. A selection of our recent thought leadership pieces related to the implications of COVID-19 includes: The Force May Be With You: COVID-19 and Force Majeure Provisions (March 31, 2020): How and if businesses should consider exploring the invocation…

Client Alerts | March 30, 2020 | Business Restructuring and Reorganization | Creditors’ Rights and Bankruptcy Litigation | Derivatives | Employment Litigation | Estate Planning and Administration | Hedge Funds | Investment Management | Investor Activism | Mergers & Acquisitions | Private Equity Funds | Securities and Corporate Finance | Special Situations and Credit

Summary of SBA 7(A) Loans under the Coronavirus Aid, Relief, and Economic Security Act

President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) into law on Friday, March 27, 2020. Under the CARES Act, select small businesses are able to receive Small Business Administration (“SBA”) loans in the form of 7(a) loans (the “Loans”), which under the CARES Act are low interest loans from…

Client Alerts | March 28, 2020 | Securities and Corporate Finance | Mergers & Acquisitions

HSR Act Bringing Offshore Funds Home

Earlier this month, the Federal Trade Commission (“FTC”), with the concurrence of the Antitrust Division of the U.S. Department of Justice, published in the Federal Register proposed changes to the Hart-Scott-Rodino Act (“HSR Act”) regulations regarding foreign entities. The proposed changes are intended to simplify the determination of whether an entity is a foreign person…

Client Alerts | November 18, 2019 | Hedge Funds | Securities and Corporate Finance

Massive increase in HSR monetary penalties underlines the tremendous importance of proper compliance

On Wednesday, June 29, 2016, the U.S. Federal Trade Commission (the “FTC”) announced that it approved final amendments to Commission Rule 1.98 to increase the maximum civil penalty dollar amounts for various legal violations as required by the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015. Among such violations, as of August 1,…

Client Alerts | July 7, 2016 | Securities and Corporate Finance | Investor Activism

The Value of Domestic Cooperation in Dealing with Foreign Corruption

The Securities and Exchange Commission and the Department of Justice recently have sought to persuade companies to self-report violations of the Foreign Corrupt Practices Act. The SEC has announced non-prosecution agreements with two companies, Akamai Technologies and Nortek Inc., respecting bribes paid to Chinese officials by Chinese subsidiaries. Each U.S. company was required to disgorge…

Client Alerts | June 16, 2016 | Securities and Corporate Finance

Section 475(f) Mark-to-Market Elections

A Section 475(f) election might help ease the pain for taxable investors in a fund experiencing losses in 2016 or possibly where a fund has significant unrealized losses coming into 2016. Specifically, Section 475(f) provides that a trader in securities or commodities can make elections to “mark-to-market” their securities and/or commodities and treat increases or…

Client Alerts | February 8, 2016 | Securities and Corporate Finance | Hedge Funds

Federal Court Chips Away at SEC’s Use of In-House Administrative Proceedings Against Insider Trading Defendants

On June 8, 2015, U.S. District Judge Leigh Martin May handed down an important decision affecting the SEC’s practice of bringing insider trading enforcement actions in the form of in-house administrative proceedings instead of civil court actions. In a 45-page opinion, Judge May enjoined the SEC from continuing with an ongoing administrative proceeding on the…

Client Alerts | June 11, 2015 | Securities and Corporate Finance | Hedge Funds