Deluxe Entertainment Services Inc. v. DLX Acquisition Corporation involved a stock purchase agreement where Plaintiff Deluxe Entertainment sold all of its stock (the “Transaction”) in its wholly owned subsidiary, Deluxe Media...more
The Internal Revenue Service has paid out billions of dollars in relief payments to individuals as part of the CARES Act, a cash injection passed by Congress in response to COVID-19. Just last Friday, new guidance was issued...more
In the past few weeks, the U.S. Department of Treasury and Small Business Administration (SBA) have raised issues concerning the economic uncertainty certification made by both public and private companies in FAQs #31 and...more
PPP Loan Proceeds Return Date Extended - On April 23, 2020, the U.S. Department of the Treasury and Small Business Administration (SBA) announced that public companies receiving Paycheck Protection Program (PPP) loans, who...more
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Paycheck Protection Program (PPP) aims to provide qualifying small businesses, nonprofit organizations, veterans organizations, tribal businesses, sole...more
The Coronavirus Aid, Relief, and Economic Security Act of 2020 (CARES Act) is a federal economic relief package for American workers and families. It provides for payments of up to $1,200 to individuals ($2,400 for married...more
For those seeking to return funds from the Paycheck Protection Program (“the PPP”) pursuant to the safe harbor, the deadline is fast approaching: May 14, 2020. While this issue continues to generate publicity, the fear being...more
On May 5, 2020, the Small Business Administration extended the time in which certain borrowers of Paycheck Protection Program loans may take advantage of the certification safe harbor SBA announced on April 24, 2020. The SBA...more
Prompted by the public clamor surrounding the participation of large, publicly traded and deeply capitalized companies in the Paycheck Protection Program (“PPP”), on April 23, 2020, the Small Business Administration (“SBA”)...more
Following criticism that large restaurant chains were able to obtain funds before the loan program had been depleted - seemingly shutting out much smaller restaurants - Shake Shack has publicly announced that it is returning...more