News & Analysis as of September 19, 2024

Small Business Administration › Class Action

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The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -

Developments in Association Law 2019 – 2020

Pillsbury Winthrop Shaw Pittman LLP on 1/4/2021

A review of key legal developments for nonprofit organizations at the federal and state levels in 2019 and 2020. Antitrust enforcement continues against nonprofits. Nonprofits have litigated in other areas, including...more

RETREAT! “Agent Fee” Class Actions Moving Against Plaintiffs

Balch & Bingham LLP on 10/26/2020

Earlier this year, this blog reported on the wave of “Agent Fee” class actions against lenders who made PPP loans under the CARES Act. At one point, there were over sixty such lawsuits, spread across the federal courts,...more

SEC Charges Trust Company With Operating Unregistered Investment Companies

Goodwin on 10/8/2020

SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more

Good News on PPP Lender Liability for Agent Fees: What You Need to Know

Manatt, Phelps & Phillips, LLP on 8/26/2020

A panel of judges has now made it far more likely that a recent wave of class action litigation will be resolved without huge litigation costs for lenders. In this post, we explain why....more

COVID-19 Class Action Update: Employment, PPP, Business Interruption Insurance, and Airline Refunds Drive New Litigation

ArentFox Schiff on 8/21/2020

In addition to battling class certification, businesses swept into these class actions may be faced with consolidation motions in multidistrict forums. The Arent Fox Class Actions group has been tracking COVID-19 class...more

Florida Judge Dismisses First-Filed PPP Agent Fee Class Action, Holds the CARES Act Contains No Requirement Agents be Paid

Balch & Bingham LLP on 8/20/2020

In a landmark decision Monday, the United States District Court for the Northern District of Florida dismissed a putative class action involving “agent fees” for Paycheck Protection Program (“PPP”) loans under the federal...more

Lenders Gain Big Win Resisting MDL Consolidation in PPP Agent Fees Class Action Litigation

Balch & Bingham LLP on 8/10/2020

On Wednesday, the Judicial Panel on Multidistrict Litigation rejected consolidation of 62 class actions involving Paycheck Protection Program (“PPP”) loans under the federal Coronavirus Aid, Relief, and Economic Security...more

Developments in Class Action Litigation Surrounding the Paycheck Protection Program

Pierce Atwood LLP on 8/7/2020

As more class actions are filed every day related to the COVID-19 pandemic, a growing number of plaintiffs are asserting claims against banks that acted as participating lenders in the Paycheck Protection Program (PPP). The...more

Financial Daily Dose 8.4.2020 | Top Story: Twitter to Pay FTC Up to $250 Over Privacy Violations

Robins Kaplan LLP on 8/4/2020

Twitter will pay the Federal Trade Commission up to $250 million to “resolve new charges . . . that the social media giant breached a 2011 consent decree by using data provided for security purposes to target users with...more

Agent Fees and the Payment Protection Program

Mitchell, Williams, Selig, Gates & Woodyard,... on 7/21/2020

Last week, Arkansas saw its first class action where “agents” claimed entitlement to payment of fees under the Payment Protection Program (PPP). This class action illustrates another area of confusion surrounding the...more

Agent Fee Suits and PPP Loans: Clarity Could Be Coming

Goodwin on 7/14/2020

During a House Financial Services Committee (HFSC) oversight hearing on June 30, 2020, Treasury Secretary Steven Mnuchin hinted that clarification may be coming on whether agents helping small businesses apply for Paycheck...more

Paycheck Protection Program Lenders Face Lawsuits Over Lending Practices

Harris Beach PLLC on 5/4/2020

In response to the devastating economic impacts of COVID-19, Congress enacted the historic economic stimulus bill - Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Among its provisions, the CARES Act set...more

Financial Services Weekly Roundup: PPP Borrowers And Lenders Under The Microscope

Goodwin on 4/30/2020

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule that would establish a revised framework for the fair value determination for purposes of the Investment Company Act of 1940 and have...more

Trends in U.S. Paycheck Protection Program Class Actions

Goodwin on 4/27/2020

Early uncertainty and the initial lapse in appropriations for the U.S. CARES Act’s Paycheck Protection Program (PPP) set off a wave of litigation by disgruntled small businesses who have been unable to secure PPP loans. PPP...more

Fair Lending Considerations in a COVID-19 World: U.S. Paycheck Protection Program Issues

Goodwin on 4/27/2020

The first wave of class actions relating to the COVID-19 pandemic is here, including a number of cases concerning so-called “gating” eligibility rules that are legitimately applied by many lenders to manage the flow of...more

Banks Beware: New Class Actions Alleging Banks Prioritized Large PPP Loans Over Smaller Ones

Balch & Bingham LLP on 4/23/2020

In a flurry of new class actions filed on behalf of unhappy small business owners, banks are facing suits alleging they unlawfully prioritized processing large loans under the Paycheck Protection Program (PPP) over smaller...more

Weekly Update Newsletter - January 2019

PilieroMazza PLLC on 1/7/2019

GOVERNMENT CONTRACTING - According to an article on Law360, American freight shipping company, YRC Worldwide (YRC), was sued in a securities class action lawsuit filed in New York federal court that claims investors paid...more

Food and Beverage Law Update: October 2015

Holland & Knight LLP on 10/29/2015

Labor and Employment - Plaintiff Wage and Hour Lawsuits Continue to Climb - Wage and hour litigation has become what some call the new "workplace revolution." Data from the Federal Judicial Center indicates that...more

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Small Business Administration › Class Action

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