Insights

A federal appeals court, in U.S. Securities and Exchange Commission v. Christopher Clark, recently reversed a lower court’s decision and remanded the case for a jury trial on civil insider trading claims based on suspicious trading and circumstantial evidence, with no direct proof of wrongdoing by the defendant. With this new ruling, the Securities and…

Client Alerts | March 16, 2023 | Commercial and Corporate Litigation | Regulatory Defense | Risk Management

The U.S. Department of Justice (the “DOJ”) and the U.S. Securities and Exchange Commission (the “SEC”) recently brought criminal charges and civil claims for insider trading against Terren S. Peizer (“Peizer”), the Chief Executive Officer and Chairman of the Board of Directors of Ontrak Inc., a publicly traded healthcare company, despite Peizer’s use of a…

Client Alerts | March 14, 2023 | Commercial and Corporate Litigation | Regulatory Defense | Risk Management

New York Pass-Through Entity Tax (“PTET”) Due Date for Elections The due date to make elections to pay the New York State and New York City PTET for 2023 is March 15, 2023. March 15, 2023, is also the due date to elect to pay the New York City PTET for 2022, but such election…

Client Alerts | March 9, 2023 | Hedge Funds | Private Equity Funds

Non-compete agreements have long been a staple in the employment arena, despite their potentially anti-competitive effect. They are both common and highly controversial. In the best light, they are seen as a means of balancing the employee’s right to seek other employment with the employer’s legitimate interest in protecting itself from unfair competition by a…

Client Alerts | January 17, 2023 | Employment Litigation | Risk Management

As inflation and interest rates rise, many businesses begin to restructure their balance sheet, which will, in many cases, include selling assets. When a distressed sale is carried out under bankruptcy court supervision, it is called a Section 363 Sale. Since the last down-market cycle when Section 363 Sales were more plentiful, a form of private third-party…

Client Alerts | October 24, 2022 | Business Restructuring and Reorganization | Mergers & Acquisitions

On October 18, 2022, the IRS released Revenue Procedure 2022-38, which announced 2023 annual inflation adjustments for various tax provisions. Effective January 1, 2023, the estate and gift tax basic exclusion amount and the generation‑skipping transfer (“GST”) tax exemption are scheduled to increase from $12,060,000 to $12,920,000. This is an increase of $860,000 per person or…

Client Alerts | October 20, 2022 | Estate Planning and Administration

The Securities and Exchange Commission (“SEC”) adopted sweeping amendments to the rules that govern advertising by investment advisers and payments to solicitors under the Investment Advisers Act of 1940, as amended (“Advisers Act”). These amendments combined the prior rules governing advertising and paid solicitation into a single revised Rule 206(4)-1 (the “Marketing Rule”).1 All investment advisers registered,…

Client Alerts | October 12, 2022 | Hedge Funds | Investment Management | Private Equity Funds

Getting out ahead of mandatory standards could bring organizational improvements and boost assets under management Within an asset management firm’s website may be a page that signals its commitment to diversity, equity, and inclusion (“DEI”) in ownership, leadership, employment and even investing practices. The commitments and aspirations are both admirable and responsive to the increased…

Client Alerts | September 29, 2022 | Hedge Funds | Investment Management | Private Equity Funds

2022 New York State Pass-Through Entity Election Deadline The original deadline to make the New York State pass-through entity tax (“NYS PTET”) election for 2022 was March 15, 2022, but in May was extended to September 15, 2022. (Please click here for our May 2022 alert on the extension of the NYS PTET deadline.) An…

Client Alerts | September 1, 2022 | Hedge Funds | Private Equity Funds

The stock and crypto markets are both significantly down from the beginning of 2022. Funds and other investors may have considerable realized and unrealized losses. Tax planning may help soften the economic impact. In this alert, we focus on tax planning for funds and individuals. The type of tax planning that may be available depends…

Client Alerts | June 27, 2022 | Hedge Funds | Private Equity Funds