COVID-19 Client Communication, Vol. 15
Below please find our latest alerts regarding COVID-19’s effect on various policies and laws. Feel free to read and share, and contact us if there is anything we can do to help you or your business maintain compliance in this ever-evolving situation. Securities Litigation Ahead? You didn’t cause COVID-19, you didn’t shut down the economy, but could you be held liable? This alert provides some … Continue reading COVID-19 Client Communication, Vol. 15
Will COVID-19 Cause Securities Litigation?
Written by John Durrant
As of May 5, 2020, the COVID-19 pandemic has accompanied a precipitous descent in the domestic securities markets, followed by a surprisingly sharp rebound. Such volatility may well give rise to several different types of potential liability against companies and their officers and directors, including:
- Securities fraud claims under the Exchange Act of 1934 (the “Exchange Act”).
- Claims related to offerings of securities under the Securities Act of 1933 (“Securities Act”).
- Claims under the various state securities claims, i.e., the “Blue Sky” laws.
- Derivative suits arising under state law.
Business leaders may well say, “Wait, we didn’t cause COVID-19; we didn’t shut down the economy; how can we be held liable?” Continue reading “Will COVID-19 Cause Securities Litigation?”
No R&R for LA Employers Under New Recall and Retention Ordinances
Two New Los Angeles Ordinances Create New Worker Recall and Retention Protections… For Select Businesses Written by Jeremy Mittman and Bethanie Thau On May 4, 2020, Mayor Garcetti signed two new city ordinances creating recall and retention protections for non-supervisory workers in certain industries deemed severely impacted by the COVID-19 pandemic and “Safer at Home” declarations by Governor Newsom and Mayor Garcetti. The COVID-19 Right … Continue reading No R&R for LA Employers Under New Recall and Retention Ordinances
SEC Offers an Elixir for Small Businesses Feeling the Financial Effects of COVID-19
Written by Mark T. Hiraide
In response to the ill effects the coronavirus pandemic is having on business, the Securities and Exchange Commission on May 4, 2020 adopted a temporary final rule to make it easier for existing businesses to raise up to $250,000 through Regulation Crowdfunding.
Under the relaxed rules, which are in effect only until August 31, 2020, a business is excused from complying with the Regulation Crowdfunding requirement to have its financial statements reviewed by an independent public accountant. During this limited period, the SEC is requiring only certain information from the business’ Federal income tax returns certified by the principal executive officer. That represents a significant time and financial savings for companies – especially small businesses – that need a quick infusion of capital during rough times caused by the COVID-19 virus. Continue reading “SEC Offers an Elixir for Small Businesses Feeling the Financial Effects of COVID-19”
COVID-19 Client Communication, Vol. 14
Below please find our latest alerts regarding COVID-19’s effect on various policies and laws. Feel free to read and share, and contact us if there is anything we can do to help you or your business maintain compliance in this ever-evolving situation. Continue reading “COVID-19 Client Communication, Vol. 14”
Is this the Golden Age of CLATs?
Written by David Wheeler Newman and Daniel Cousineau
The charitable lead trust has always been a powerful vehicle to balance philanthropic and estate planning objectives. The recent convergence of two factors that are critically important in the planning dynamic for charitable lead annuity trusts (CLATs) create a planning environment that is so favorable for CLATs, it is no exaggeration to suggest that the current period may be the golden age of CLATs, presenting a very interesting planning opportunity for wealthy families. But that opportunity is temporary, since the convergence of these factors is unlikely to continue for very long. Continue reading “Is this the Golden Age of CLATs?”
Stop The Clock
Written by Robert Lowe The US Department of Labor (DOL) has “stopped the clock” on many employee benefit plan deadlines during the period starting March 1, 2020 and ending 60 days after the end of the COVID-19 National Emergency (referred to by the DOL as the “Outbreak Period”), including the following: 60-day period for an employer to provide notice of the right to elect continuation … Continue reading Stop The Clock
High Court Copyright Ruling Expands Government Edicts Doctrine
Written by Eleanor M. Lackman and Craig C. Bradley
On April 27, the U.S. Supreme Court for the first time in 130 years addressed the government edicts doctrine, a court-made rule holding that state government edicts having the force of law are not eligible for copyright protection.
The doctrine provides that state and local government officials acting in their governmental capacity are not considered “authors” as that term is understood in copyright law. Without authorship, no copyright protection is available for the work. This principle has made judicial opinions and statutes freely available to publish and review free from claims of copyright infringement.
The decision in Georgia v. Public.Resource.Org, Inc., raised a new issue: not whether the law itself was copyrightable, but whether annotations and other analytical materials accompanying the law were also barred from copyright protection under the government edicts doctrine. Continue reading “High Court Copyright Ruling Expands Government Edicts Doctrine”
COVID-19 Client Communication, Vol. 13
Below please find our latest alerts regarding COVID-19’s effect on various policies and laws. Feel free to read and share, and contact us if there is anything we can do to help you or your business maintain compliance in this ever-evolving situation. Continue reading “COVID-19 Client Communication, Vol. 13”
Keeping Food Sector Workers Posted
California Issues Model Notice of Food Sector Worker Paid Sick Leave That Eligible Employers Must Post
Written by Jeremy Mittman and Stephen Franz
On April 16, 2020, Governor Gavin Newsom issued Executive Order N-51-20 (the ”Order”), which requires “hiring entities” with at least 500 employees in the United States to provide “food sector workers” who are unable to work for COVID-19-related reasons with up to 80 hours of supplemental paid sick leave. We previously reported on the Order, which is one of several recent California laws providing paid sick leave to workers who are not covered by the federal Families First Coronavirus Response Act (“FFCRA”). Continue reading “Keeping Food Sector Workers Posted”
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