On May 13, 2020, the U.S. Department of the Treasury and the Small Business Administration revised their Frequently Asked Questions concerning the Paycheck Protection Program (“PPP”) to provide additional guidance on how it would review a borrower’s certification that...
This past April, the U.S. Department of Justice updated its guidance document setting forth policies and examples to assist federal prosecutors in evaluating compliance programs. As those within highly regulated industries like government contracting and health care...
Meuse, et al. v. Henry, et al., Virginia Supreme Court, No. 170604 (4 October 2018) Arbitration; judicial review of arbitration; confirmation of arbitration award Charles Dickens had a talent for naming characters with names suggesting the character’s personality. ...
Dorothy C. Davis, derivatively on behalf of Woodside Properties, LLC v. MKR Development, LLC, et al., Virginia Supreme Court No. 171020 (31 May 2018) “Happy families are all alike; every unhappy family is unhappy in its own way.” (Anna Karenina, by Leo Tolstoy). This...
On Monday, June 18, 2018, the United States Supreme Court granted a request to review SEC v. Francis Lorenzo, a case that asks the Justices to clarify the limits of so-called “scheme liability” under the federal securities laws given the limits on so-called “statement...
At some point, nearly every company faces a situation in which there are irregularities or other issues that the government—rightly or wrongly—views as having criminal implications. In today’s legal climate, companies that ignore reports about the conduct of their...
When the government changes a contractor’s work, the contractor is entitled to an equitable adjustment under the Changes clause for not only any increased costs but also for profit on those costs. Negotiating a fair profit presents a problem. The typical contractor is...
The Delaware Court of Chancery, one of the most sophisticated and influential venues for the resolution of corporate disputes, has held that when one company acquires another, privileged communications between the acquired company and its attorneys are not protected...
Every successful business prioritizes the retention of its most valuable employees. Many such businesses show their willingness to retain top talent through the use of one or another of a variety of employee incentive plans. Whether it’s the stock option plan...
There is usually little or no secondary securities market on which to sell or buy close corporation stock, making investments in close corporations difficult to liquidate. Consequently, minority shareholders can find themselves in a vulnerable position. Many...
