Legal News

On September 3, 2020, the Department of Justice (“DOJ”) released a revised Merger Remedies Manual reflecting the DOJ Antitrust Division’s current policy framework for implementing remedies in merger cases where the parties seek to resolve the Antitrust Division’s competitive concerns via a consent decree (settlement) that allows the merger to proceed with changes that preserve or restore competition....By: Kilpatrick Townsend & Stockton LLP

Paycheck Protection Plan (PPP) loans are Small Business Administration (SBA) Section 7(a) loans. Consequently, they are subject to the same regulatory guidelines that generally apply to Section 7(a) loans....By: Hinshaw & Culbertson LLP

The Ballard Spahr Zoning and Land Use Team is continuing to monitor all aspects of the Philadelphia land use approval process during the COVID-19 emergency, including the issuance of zoning and building permits, regulation of construction work, and changes to relevant court filing deadlines....By: Ballard Spahr LLP

One - SPACs (special purpose acquisition or "blank cheque" companies) have recently regained prominence in the US, with H1 2020 seeing record-breaking levels of activity, both in terms of value (Bill Ackman's $4bn Pershing Square Tontine is the largest SPAC IPO to date, eclipsing previous records) and volume (SPACs accounted for around 30% of all US IPOs in H1 2020). One of the reasons for the revived interest is that experienced founder teams can benefit from a dislocated market to find good....

For a fleeting moment, companies had the ability to raise capital on the New York Stock Exchange (“NYSE”) in connection with a direct listing (“primary direct listing”). On August 26, 2020, the Securities and Exchange Commission (“SEC”) approved a rule proposed by the NYSE that would permit companies to sell newly issued shares in connection with a direct listing. The rule was immediately effective upon SEC approval......By: Vinson & Elkins LLP

While some have been enjoying the return of baseball, albeit without fans in the stands, the Oakland A’s are moving forward with their game plan for a new stadium in the Port of Oakland. However, relations with their prospective neighbors are off to a rocky start. In March, stadium opponents led off by filing suit against the state and city of Oakland arguing the project is not eligible for an expedited CEQA review and litigation schedule. On Aug. 4, the A’s hit back, by filing suit against th...

We are seeing a significant increase in cases where a qualified person (QP) or related engineering firm has prepared a technical report or other required disclosure for a mining company, but then resisted, or outright refused, to provide the written consent that the mining company is required to obtain in order to be permitted to disclose the name of the QP and the conclusions of the QP in a prospectus that forms part of an SEC registration statement for a public offering or for the mining...By:...

With a dramatically declined M&A market, companies continue to conduct sales processes, and transactions are being consummated despite the difficult economic environment. In this challenging atmosphere, it is more important than ever to select the proper financial advisor to effectuate a proposed transaction with the most appropriate terms and conditions. And the formal arrangement, the engagement letter, is crucial to align your interest with that expert to maximize price and the likelihood of....

On August 27, 2020, in Protecting Our Water and Environmental Resources v. County of Stanislaus, Case No. S251709 (“Protecting Our Water”), the California Supreme Court held that the County in that instance could not categorically classify its issuance of groundwater well construction permits as ministerial decisions exempt from environmental review under the California Environmental Quality Act (“CEQA”) (Pub. Resources Code, §§ 21000 et seq.). While the Court’s Opinion does not state that ...

All sectors of the construction industry have faced unique challenges in 2020, but none has been more significantly impacted than homebuilding. Widespread protests in urban areas, historically cheap financing for single-family homes and the global pandemic have shaped new housing trends and accelerated others......By: Fox Rothschild LLP