Legal News

Private equity fund sponsors can breathe a sigh of relief last week as the First Circuit Court of Appeals, reversing a district court finding, held that two separate private equity funds sharing a general partner (Sun Capital Partners III and Sun...By: Locke Lord LLP

The Internal Revenue Service recently published final regulations modifying the rules relating to hardship distributions from Sections 401(k) and 403(b) plans. The final regulations reflect statutory changes affecting Section 401(k) and 403(b)...By: Locke Lord LLP

The IRS has been issuing the 2017 Employer Shared Responsibility Penalty (ESRP) assessments (Letter 226-J). The Letter 226-J provides the IRS’ determination of whether an “applicable large employer” may be liable for an ESRP for a particular...By: Locke Lord LLP

The Internal Revenue Service set March 31, 2020 as the last date of the remedial amendment period for tax-exempt organizations and public school systems to self-correct plan document defects in their Section 403(b) plans....By: Locke Lord LLP

The majority of U.S. states have legalized medical marijuana. Yet many of those same states do not have laws on the books regarding testing for marijuana in the workplace, and in the absence of such laws, many companies continue to test employees for...By: Locke Lord LLP

Last month saw large settlements and yet another new lawsuit against companies that have an independent contractor business model, but also success by such companies in obtaining a favorable jury verdict in an IC misclassification lawsuit and...By: Locke Lord LLP

On September 24, 2019, the U.S. Department of the Treasury (“Treasury”) proposed regulations to expand considerably the scope of transactions subject to review by the Committee on Foreign Investment in the United States (“CFIUS”), to now include...By: Locke Lord LLP

The Internal Revenue Service announced the 2020 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living adjustments for 2020....By: Locke Lord LLP

Limited partnerships and limited liability companies, as creatures of contract, often have in their governing agreements safe harbor provisions for approval of conflicted transactions with interested parties. These are designed to establish as a...By: Locke Lord LLP

The Illinois Workplace Transparency Act (the Act), which passed the Illinois legislature in May and is effective January 1, 2020, amends the Illinois Human Rights Act in numerous ways with the goal of strengthening employee protections against...By: Locke Lord LLP