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On April 21, 2021, Judge Virginia M. Kendall of the United
States District Court for the Northern District of Illinois denied
a motion to dismiss a putative securities class action against a
large Illinois-based electric company (the “Company) for
violations of Sections 10(b) and 20(a) of the Securities Exchange
Act of 1934 and Rule 10b-5 as well as Items 105 and 303 of
Regulation S-K.
Flynn v. Exelon Corp., No.
19-C-8209 (N.D. Ill. April 21, 2021). Plaintiff alleged that
the Company made false and misleading statements and omissions
about an eight-year scheme to bribe Illinois state lawmakers,
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With antitrust enforcement of the technology sector making
headlines daily, and as lawmakers focus on strengthening and
potentially reforming antitrust laws as a tool to regulate the tech
industry, we anticipate a significant increase in scrutiny by US
federal antitrust authorities of vertical mergers,
1
including merger of complements and so-called diagonal
mergers in the technology sector. Notwithstanding the
current challenges of vertical merger enforcement,
2 on
June 30, 2020, the Federal Trade Commission ( FTC ) and
the Department of Justice ( DOJ ) issued guidelines (the Vertical Merger Guidelines )
3 describing the
self
It seems that everyone is taking a second look at SPACs as the
number of lawsuits against these alternative IPOs continues to
increase by the day. The SEC has recently commented on the liability risks of SPACs under
the securities laws following the agency s heightened
scrutiny of these blank-check companies. What exactly is happening,
and how can SPAC actors mitigate the ever-increasing risk of
litigation?
This latest episode of SPAC Chat features your two favorite
corporate attorneys in the forefront of SPACs, Jeff Schultz and Sahir Surmeli, along with two of Mintz s
leading litigators, Doug Baumstein and Sean Prosser, as they discuss this latest SPAC
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The
Wall Street Journal reported that the wave of cash raised by
special-purpose acquisition companies (SPACs) is fueling activity
in the junk debt market at levels not seen since the dot.com-boom
from two decades ago. So far this year, SPACs have issued
roughly $100 billion of stock to purchase private companies and
take them public, with some of that money going toward companies
with below investment-grade credit ratings, significantly boosting
their gains on paper. [WSJ; April 23, 2021]
Bloomberg reported that bonds issued by Hertz
Global Holdings, Inc. have made a drastic turn-around since the
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After the U.S. Equal Employment Opportunity Commission (EEOC)
delayed the collection of 2019 EEO-1 Component 1 data, April 26,
2021, now marks the opening of the 2019 and 2020 EEO-1 Component 1
filing site. The EEOC had
extended the data collection period from the usual 10
weeks to 12 weeks, resulting in a July 19, 2021, filing deadline.
Previous filers will receive their companies annual
notification letters by U.S. mail. Each letter will include the
company ID and passcode, which are required to create a new account
in the EEO-1 Component Online Filing System. All