Corporate Finance

April 9, 2020

Introduction The COVID-19 pandemic has raised a fundamental question for M&A participants: does the outbreak of COVID-19 and the impact on a business constitute a “Material Adverse Change” (referred to as a “MAC”) under merger agreements? The answer is important because if the pandemic is a MAC, then buyers can typically walk away from a deal without penalty or legal exposure. On the other hand, if it is not a MAC and buyers try to…

Iowa Banking Law Blog

On Demand Webinar: COVID-19 Relief Options and Your Business

By noreply@dickinsonlaw.com Dickinson Mackaman Tyler Hagen P.C.

April 8, 2020

Business owners are in a tough position during the COVID-19 pandemic. They must look to their bottom line at a time when little revenue is being generated, while at the same time take into consideration what’s best for the health and safety of their employees and customers alike. To help, the “COVID-19: Relief Options and Your Business” webinar that first aired on April 8, 2020, is now available on demand. It features Dickinson Law Business & Real Estate…

Iowa Banking Law Blog

Hemp is Now Legal in Iowa

By estaudacherdickinsonlaw-com-dickinson-mackaman

April 8, 2020

As of today, April 8, 2020, it is legal to grow, possess, buy or sell hemp in Iowa. This includes hemp-derived CBD products which comply with federal law. Federal law still prohibits the use of CBD in food and drug products under the Food, Drug & Cosmetic Act. In order to comply with the FD&C Act, CBD products may not be marketed as therapeutic and may not be sold in food products. If a…

Covington Competition

COVID 19 – US and EU Competition Law Implications (8 April 2020)

By Covington Competition

April 8, 2020

The Covington US and EU Competition/Antitrust teams will be updating you regularly, through the Covington Competition blog, on the competition/antitrust law implications – both procedural and substantive – of the COVID-19 crisis in the US and the EU. This is our update for Wednesday 8 April. Today’s new updates as compared to the previous update are highlighted – these are the headlines: Today’s EU updates: On 8 April, the European Commission published a temporary…

Securities Law Exchange

Heightened Insider Trading Risk Due to COVID-19

By Andrea Orr & Tatjana Paterno

April 8, 2020

On March 23, the Division of Enforcement of the Securities and Exchange Commission (SEC) issued a Statement warning against insider trading during the ongoing COVID-19 pandemic. In particular, the SEC cautioned that insiders are “regularly learning” new material non-public information (MNPI) that may “hold an even greater value than under normal circumstances.” The SEC also noted that unique circumstances mean more people may have access to MNPI than may typically be the case. This is…

Timely disclosure

Annual Meetings During the Pandemic: All OBCA corporations now have option to delay and go virtual

By Sarah Gingrich, Bradley Freelan, Perry Feldman & Dana Gregoire

April 8, 2020

On March 30, 2020, in connection with its state of emergency declared on March 17, 2020 (Declared Emergency), the Ontario government issued an order (Order) under the Emergency Management and Civil Protection Act (Ontario) to temporarily suspend and replace, among other things, certain provisions of the Business Corporations Act (Ontario) (OBCA) in respect of shareholder meetings. The Order provides for two types of “temporary amendments” to the OBCA relating to shareholder meetings: time extensions for…

Securities Law Exchange

COVID-19 Public Company Town Hall Webinar: Securities Law Guidance for First Quarter Reporting Season

By Bass, Berry & Sims

April 7, 2020

Please join the Bass, Berry & Sims Corporate & Securities Practice Group for a series of complimentary webinars exploring various public company-related securities law issues. These programs are an extension of our Securities Law Exchange Blog and feature timely and practical guidance to SEC disclosure counsel on key topics of interest. The COVID-19 global pandemic continues to impact public companies, giving rise to a myriad of disclosure challenges and developments that public companies are facing.…

Broker- Dealer Law Corner

If Covid-19 Wasn’t Bad Enough, Just Wait For The Arbitrations

By Alan Wolper

April 7, 2020

Forced to sit at home under government-ordered decree, and having finished binge-watching Season 3 of Ozark and Season 4 of Money Heist on Netflix, what’s left to do except prey upon scared investors – particularly seniors – who have been watching the markets not so much fly as plummet? With (perhaps) that very thought in mind, on Thursday last week, the SEC’s Investor Advisory Committee hosted a conference call – nice social distancing! –…

Iowa Banking Law Blog

Another Round of Direct Payments to Farmers are Likely in Wake of COVID-19 Pandemic as Farmer Sentiment Declines Steeply

By estaudacherdickinsonlaw-com-dickinson-mackaman

April 7, 2020

Farmer sentiment plummeted in March as a result of the global COVID-19 pandemic. The 47 point drop from February to March was the sharpest one-month decline seen since the Ag Economy Barometer began tracking farmer sentiment in 2015. Farmers cited the impact of the coronavirus crisis on profitability for 2020 and farmland values as reasons for their concern. Low prices for corn and soybeans are also impacted by the glut of oil resulting from…

Covington Competition

Competition law in the time of coronavirus: UK regulators’ response and approach to the COVID-19 pandemic

By James Marshall & Grace Kim

April 7, 2020

As we now enter the third week of lockdown in the UK, this blog post rounds-up the steps that the UK Competition and Markets Authority (CMA) and certain other regulators have taken to address the unprecedented challenges facing the country. This includes targeted relaxation of certain elements of the rules to facilitate essential forms of coordination, for example in relation to grocery supply, in addition to wider guidance on the CMA’s approach to enforcement in…