March 13, 2021, marked the one-year anniversary of President Trump's declaring COVID-19 a national emergency. Through the CARES Act, agency action and guidance, and various state laws and executive orders, governments across...more
Soon after Congress passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) in March 2020, the Criminal Division of the U.S. Department of Justice (DOJ) moved quickly to address potential COVID-19 related...more
As savvy investigators in Congress and the Biden-Harris Administration prepare for new and expanded government investigations, it is time for potential targets to assess and address their vulnerabilities. Investigators in...more
An uptick in fraud prosecutions and litigation has historically followed federal crisis relief programs. In addition to this historical trend, the attention fraud related to the novel coronavirus ("COVID-19") has garnered...more
The past decade has taught lenders much about regulatory enforcement risk. In the fallout of the 2008 financial crisis and collapse of the housing and related markets, the Department of Justice and other agencies...more
In the early weeks of the COVID-19 public health crisis, the federal government prioritized a swift response to the economic impact of the novel coronavirus, including several pieces of legislation that sought to infuse cash...more
As the country struggles with COVID-19, many companies have applied for and received funds under the CARES Act and its Payment Protection Program (“PPP”). Those companies must understand there are significant risks tied to...more
While gearing up to get trillions of dollars into the economy, the government was also setting in place the mechanism to investigate and prosecute fraud related to these programs. The CARES Act was signed into law on March...more
Please join Nelson Mullins attorneys Cory Manning and John Jennings for a webinar to review lessons learned from 2008 and other recessions to keep you, your company, and clients away from litigation down the road. This is not...more
With the uncertainty created by the global COVID-19 pandemic, it is hard to find anything like a sure bet. States are grappling with when to reopen, parents with school-aged children are awaiting news of when and if their...more
While uncertainty has been the overarching theme of the global COVID-19 pandemic, one thing is beyond doubt: the Coronavirus Aid, Relief, and Economic Security (CARES) Act’s distribution of more than $2 trillion in stimulus...more
On March 27, 2020, the United States Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") became effective. The primary purpose of the CARES Act is to provide businesses affected by the novel coronavirus...more
The Federal Reserve continues to roll out multiple measures to strengthen the economy during the COVID-19 pandemic. Many of these measures are intended to buffer the housing market, which is affected by broader macroeconomic...more
Allocation of funds under the CARES Act Provider Relief Fund commenced on April 10, 2020, to address the economic impact of the pandemic on the U.S. healthcare system, including the heroic providers battling COVID-19....more
This client alert focuses on the circumstances that could lead to criminal investigation or enforcement for environmental noncompliance during COVID-19, and provides four practical pointers on how to avoid those pitfalls. On...more
Federal Stimulus and Oversight - On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, which included among its provisions the Paycheck Protection Program (“PPP”). The PPP...more
Emergency COVID-19 relief legislation signed into law by President Trump, including the Coronavirus Aid, Recovery, and Economic Security Act (“CARES Act”), has allocated more than $2 trillion in economic aid to individuals,...more
Companies receiving assistance under Title IV of the Coronavirus Aid Relief and Economic Security Act will be required to limit compensation payable to certain highly paid officers and employees. In general: - Officers and...more
As former federal prosecutors, the authors have investigated and prosecuted individuals who committed various crimes relating to TARP funding and other crisis aid. With the passage of the U.S. CARES Act and more than $349...more
The Coronavirus Aid Relief and Economic Security Act (CARES Act), is the most expensive piece of legislation ever passed and aims money at businesses to keep them afloat during the COVID-19 pandemic. With nearly $500 billion...more
On Friday, March 27, President Donald J. Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Along with substantial economic relief, the CARES Act establishes a new Office of the...more
Any financial crisis, especially one as pronounced as that triggered by the coronavirus (COVID-19) pandemic, puts companies at heightened risk for fraud. With $2.2 trillion about to be made available for financial relief...more
Anticipated House passage later today of the $2 trillion COVID-19 stimulus bill helped swing markets back to a bull run (though let’s keep that bubbly corked, shall we?). The news was enough for Wall Street to shrug off a...more
The Senate yesterday, March 25, 2020, passed by a vote of 96-0 the stimulus bill known as the Coronavirus Aid, Relief and Economic Security Act (the “Act”), which awaits the President's signature. It has been reported that...more