News & Analysis as of

Paycheck Protection Program (PPP) Private Equity

Ropes & Gray LLP

False Claims Act Insights: Key Takeaways from DOJ’s Fiscal Year 2024 Cases & Recoveries

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The U.S. Department of Justice (DOJ) announced last Wednesday that settlements and judgments under the False Claims Act (FCA) exceeded $2.9 billion in fiscal year 2024—up approximately 5% from last year. DOJ’s announcement...more

Benesch

Dental/DSO Intelligence Monthly Report: August/September 2024

Benesch on

Guardian Dentistry leads among fastest growing DSOs and has emphasized its commitment to continuous learning - Guardian Dentistry Partners ranked highest among DSOs on the Inc. 5000 list of fastest-growing companies. As a...more

Foley & Lardner LLP

Continuing Consolidation in Orthopedic Medicine

Foley & Lardner LLP on

Physician consolidation continued on a robust pace this past year, despite, or maybe because of, the Pandemic. Physician-owned orthopedic practices appear to be no exception to this trend. Interestingly, orthopedic...more

Tonkon Torp LLP

Is Selling A Viable Option With An Unresolved PPP Loan On The Books?

Tonkon Torp LLP on

When the second round of PPP funding became available in January 2021, our firm saw a significant drop off in the number of clients seeking a second PPP loan. I view this is a positive indication that the first round did its...more

K&L Gates LLP

Qui Tam Quarterly - Risky Business: Health Care Investments Pose Acute False Claims Act Risk for Private Equity

K&L Gates LLP on

This article analyzes emerging risks to PE firms that invest in the health care sector by examining the current enforcement landscape and significant FCA litigation; identifies key factors that increase FCA risk for PE firms...more

WilmerHale

In Case You Missed It: Launch Links - January 2021 #4

WilmerHale on

Some interesting links we found across the web this week: Do You Have to Pay Taxes on Your PPP Loan? Since the Paycheck Protection Program (PPP) started in 2020, the Small Business Administration has issued more than...more

Burr & Forman

2020 Alabama Health Care Year in Review

Burr & Forman on

This article summarizes the key 2020 legal, policy and political issues affecting Alabama health care providers. Prior to COVID-19, most healthcare providers were benefiting from a strong economy, low unemployment and...more

Bass, Berry & Sims PLC

SEC Files First Charges for Inadequate Public Company COVID-19 Disclosures

Bass, Berry & Sims PLC on

In a prelude of things to come for public companies, on December 4 the Securities and Exchange Commission (SEC) sued restaurant operator The Cheesecake Factory Incorporated for making misleading disclosures regarding the...more

Bass, Berry & Sims PLC

Private Equity Dealmakers Guidebook to Healthcare M&A During the Covid-19 Pandemic

Bass, Berry & Sims PLC on

The COVID-19 pandemic has stressed the M&A market at every stage of the deal-making process – from complicating on-site visits and intensifying the diligence process to introducing valuation gaps (relative to pre-COVID-19...more

K&L Gates LLP

COVID-19: New SBA Forms Asking Key Necessity and Liquidity Questions

K&L Gates LLP on

Borrowers of Paycheck Protection Program (PPP) loans of US$2M or more will be required to complete a new form as part of the Small Business Administration (SBA) review process, which appears to ask key questions about private...more

Burr & Forman

Labor & Employment E-Note - July 2020

Burr & Forman on

Spotlight - Wrongfully Convicted of Murder, Tennessee Board of Parole Recommends Adam Braseel to be Exonerated - On June 24, 2020, The Tennessee Board of Parole voted unanimously to recommend that Gov. Bill Lee...more

Ballard Spahr LLP

UPDATED: The 1-2-3s of Counting Employees in Private Equity Firms Under Federal COVID-19 Legislation

Ballard Spahr LLP on

No employer is immune from the storm of legislation Congress has passed in response to the COVID-19 pandemic. ...more

BakerHostetler

Private Equity and Hedge Funds Are Out: SBA Evicts Certain Funds From the PPP Program

BakerHostetler on

In its most recent round of guidance, the SBA stated succinctly that private equity funds and hedge funds are not eligible for relief under the Paycheck Protection Program. The guidance is brief and lacks most important...more

Troutman Pepper Locke

COVID-19 Primer for Private Equity Funds

Troutman Pepper Locke on

In a very short period of time, private equity groups and their portfolio companies have had to deal with an unprecedented amount of change in response to the novel coronavirus (COVID-19) crisis....more

Farella Braun + Martel LLP

Paycheck Protection Program Eligibility for Private Equity and Venture Capital-Backed Entities

Congress’ recently enacted Coronavirus Aid, Relief and Economic Security Act (CARES Act) created a new small business lending program to provide a direct incentive for small businesses to keep their workers on their payroll...more

BakerHostetler

FAQs: The Affiliation Rules' Impact on PPP Loans to Private Equity and Venture Firms

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We have been getting tons of questions from our private fund clients about whether they (and their portfolio companies) can access funds through the CARES Act loan programs for small businesses. Below are answers to your most...more

Nutter McClennen & Fish LLP

Main Street Lending Facilities – Eligibility and Terms for PE/VC-Backed Companies

On April 9, the Treasury Department and the Federal Reserve announced two new lending facilities to provide capital to small- and medium-sized businesses. The Main Street New Loan Facility (the “New Loan Facility”) will...more

Stinson LLP

Applying SBA's Affiliation Rules and Guidance to Private Equity and Venture Capital Portfolio Companies Seeking PPP Loans

Stinson LLP on

By now, businesses are deep into consideration of whether they should seek a loan under the Paycheck Protection Program (PPP), being administered by the Small Business Administration (SBA) under the Coronavirus Aid, Relief,...more

Nutter McClennen & Fish LLP

Steps Private Equity and Venture Capital-Backed Companies Should Consider Taking for PPP Eligibility

Despite assertions from Congressional leaders on both sides of the aisle that the affiliation rules would be waived for applicants with outside minority investors, additional SBA guidance only provided relief for faith-based...more

Pillsbury Winthrop Shaw Pittman LLP

COVID-19 Relief: What Funds, Corporate Investors and Their Portfolio Companies Should Know About Eligibility for the Payroll...

Guidance on eligibility for small business loans under the CARES Act. Companies that have investments from venture capital (VC) and/or private equity (PE) funds, or that have raised funds under similar terms from corporate...more

Morgan Lewis

CARES Act: Can Private Equity or Venture Capital Owned Small Businesses Obtain Paycheck Protection?

Morgan Lewis on

With the targeted relief for small businesses from the Coronavirus Aid, Relief, and Economic Security (CARES) Act come questions about whether certain entities are eligible for relief under the act’s Paycheck Protection...more

Womble Bond Dickinson

Update: Overview of the CARES Act’s Paycheck Protection Loan Program; Guidance for Private Equity and Venture Capital-Backed...

Womble Bond Dickinson on

Things are moving fast (perhaps the only good news in this uncertain environment).  On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”).  On Monday, March...more

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