Not every cybersecurity threat is ransomware. Phishing is cybersecurity’s biggest threat. It’s one of the most common ways hackers can “get into” your organization, and it can result in much more than identity theft. In the...more
In the second session in our Cybersecurity Awareness Series, learn the ins and outs of preparing your organization’s staff for a potentially damaging situation–whether created by accident or by a malicious outsider–by running...more
A recent court decision serves as an important reminder that attorney-client privilege may not apply to communications between an executive and a company’s counsel during the course of an investigation unless individual...more
On June 14, the United States Supreme Court issued a summary disposition in hiQ Labs, Inc. v. LinkedIn Corp. granting certiorari, vacating the Ninth Circuit’s previous judgment, and remanding the case for additional...more
The U.S. Supreme Court issued a decision Van Buren v. United States on June 3, 2021 that has broad implications for technology companies writ large. With its decision, the Court has restricted the scope and application of the...more
The recent Colonial Pipeline ransomware event provides a strong incentive for organizations to evaluate their resiliency to cyberattacks. With ransomware being the No. 1 concern for many Security Officers surveyed in a recent...more
Yesterday, the Federal Trade Commission (FTC) published data security guidance on their business blog that should be taken seriously by any corporate board. The article, “Corporate Boards: Don’t Underestimate Your Role in...more
We are now seeing a potential trend where states are incentivizing companies through the creation of safe harbors to improve their cybersecurity posture, instead of penalizing them after a breach of personal information. Utah...more
On Tuesday, March 2, 2021, New York State Attorney General Letitia James and New York City Corporation Counsel James E. Johnson released a statement announcing their recovery of a $105 million settlement from a hedge fund...more
3/8/2021
/ Attorney's Fees ,
Deferred Compensation ,
False Claims Act (FCA) ,
Hedge Funds ,
New York ,
Penalties ,
Qui Tam ,
Shell Corporations ,
State Attorneys General ,
Tax Evasion ,
Third-Party ,
Whistleblowers
“Malicious cyberattacks have unfortunately become a routine part of our modern digital world.” Wengui v. Clark Hill, PLC, Civil Action No. 19-3195, slip op. at 1 (D.D.C. Jan 12. 2021). When a data breach occurs, in-house...more
As the roughly 18,000 organizations, government agencies and educational institutions continue to recover from last year’s SolarWinds nation-state attack, one of the biggest takeaways from this event is that organizations...more
Introduction
•The First Draw Consolidated IFR also applies to loan forgiveness applications submitted under the Paycheck Protection Program before enactment of the Economic Aid Act where SBA has not remitted the...more
I. Introduction-
On December 27, 2020, President Trump signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act) into law to provide continued assistance to individuals and...more
At a time when the U.S. healthcare system is already overwhelmed by the COVID-19 pandemic, hospitals and healthcare companies have been hit with an unprecedented number of ransomware attacks. A joint cybersecurity advisory...more
Certain provisions of the Coronavirus/COVID-19 economic stimulus legislation are subject to the issuance of government regulations and other government action; thus, certain details regarding the legislation may be clarified...more
A putative consumer class action filed in California state court on Friday the 18th against Petco Animal Supplies Stores Inc. (Petco) and its wholly owned subsidiary PupBox Inc. (PupBox) alleges that between February and...more
As reported by Bloomberg and other news outlets, a major cyber security intrusion attributed to Russian state hackers, known by the nicknames APT29 or Cozy Bear, has sent cybersecurity experts into emergency mode as they work...more
On October 26, 2020, the Small Business Administration (SBA) published a proposed Paycheck Protection Program (PPP) Loan Necessity Questionnaire for both for-profit and nonprofit borrowers in the Federal Register. This...more
In an important update to our article on the PPP program and the federal Freedom of Information Act (FOIA), a federal judge ruled yesterday (November 5, 2020) that the SBA must release detailed information for all PPP loan...more
On June 16, 2020, Lowenstein Sandler presented The Specter of Whistleblower Actions & the CARES Act: An Overview, in which Lowenstein’s Kathleen A. McGee and Rachel Maimin, along with Greg Krakower, a leading authority on...more
Between May 20 and May 22, SBA announced three new Interim Final Rules and the U.S. Department of Justice (DOJ) announced three new fraud prosecutions stemming from PPP loans. Those prosecutions reflect that the DOJ does not...more
5/26/2020
/ Borrowers ,
CARES Act ,
Certifications ,
Coronavirus/COVID-19 ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Fraud ,
Interim Final Rules (IFR) ,
Lenders ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Recordkeeping Requirements ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Statute of Limitations
(Main Street Lending Program Is Currently Available Only to Companies With Positive 2019 Adjusted EBITDA) Certain provisions of the coronavirus/COVID-19 economic stimulus legislation are subject to the issuance of government...more
Congratulations–you have successfully received an SBA PPP loan! While you are likely thinking that the hard work is over, you are, unfortunately, wrong. The responsibilities of a PPP loan recipient extend beyond the four...more
5/18/2020
/ Best Practices ,
CARES Act ,
Coronavirus/COVID-19 ,
Crisis Management ,
Federal Loans ,
Financial Stimulus ,
Paycheck Protection Program (PPP) ,
Recordkeeping Requirements ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business
With one day to spare before the May 14 “Limited Safe Harbor” expires, the SBA released FAQ #46 (May 13) to explain the process of how the SBA will review Paycheck Protection Program (PPP) loans. The new FAQ, unfortunately,...more
5/14/2020
/ Compliance ,
Coronavirus/COVID-19 ,
Enforcement Guidance ,
Good Faith ,
Interim Final Rules (IFR) ,
Paycheck Protection Program (PPP) ,
Safe Harbors ,
SBA ,
SBA Lending Programs ,
Small Business ,
Small Business Loans
Just one day after lending under the Paycheck Protection Program reopened, Treasury Secretary Steve Mnuchin warned that the Small Business Administration would audit all loans over $2 million. The announcement follows...more