Hedge Fund Law Report has published an article by litigation partner Anne E. Beaumont on the recent New York Court of Appeals decision in Moore Charitable Foundation v. PJT Partners, Inc. and how the decision may affect New York employers’ liability for economic harm to third parties resulting from alleged negligent supervision of employees. More

Private Equity Law Report has published an article by Friedman Kaplan litigation partner Lance J. Gotko discussing two recent developments that may impact the enforceability of non-compete provisions in employment contracts. More

Corporate Disputes magazine has published an article by Friedman Kaplan attorneys Scott M. Berman, David J. Ranzenhofer, and Geoffrey Cajigas providing an overview of the use and indispensability of expert witnesses in complex litigation, particularly sophisticated financial and multijurisdictional disputes. More

The Hedge Fund Law Report has published an article written by Friedman Kaplan attorneys Lance J. Gotko, Asaf Reindel, and Yaara Shchori-Ben Harush describing a recent Delaware Chancery Court decision (Ainslie v. Cantor Fitzgerald, L.P.) in which the Court found unenforceable non-competition and non-solicitation covenants contained in a partnership agreement. More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partner Anne Beaumont explaining how LIBOR transition came about, how the transition away from LIBOR is going and what steps investment managers need to take next to ensure a smooth transition. More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partner Anne Beaumont discussing key elements of arbitration and how it can be a useful tool for hedge fund managers to resolve disputes. More

What’s happening right now in the world of LIBOR transition? Friedman Kaplan’s LIBOR Transition Task Force sees six major themes More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partner Anne Beaumont discussing requirements of and protections for investment managers from advice-of-counsel defense provisions.  More

What’s happening right now in the world of LIBOR transition?  Friedman Kaplan’s LIBOR Transition Task Force sees five major themes More

Law360 has published an "Expert Analysis" article co-authored by Friedman Kaplan litigation partner Anne Beaumont and Janine Alexander and Audrey Favreau of UK law firm Collyer Bristow LLP.  The article provides a comparative analysis of legislative and regulatory proposals in three jurisdictions – the US, UK and EU – which attempt to address so-called “tough legacy” contracts, which have no or inadequate LIBOR fallback provisions, and are extremely difficult or impossible to amend in advance of the end of LIBOR in 2021.  More

Friedman Kaplan attorneys Asaf Reindel, Stan Chiueh, and Jessica Julich share findings from a review of the LIBOR fallback and other provisions in 300 recent loan and credit agreements, which were extracted using Eigen Technologies’ natural language processing platform. More

Friedman Kaplan associate Elizabeth Bierut describes what parties can expect when conducting an ADR proceeding virtually, addresses potential concerns with the virtual format as well as noting its many benefits, and discusses best practices in navigating virtual proceedings and providing for virtual ADR options in future agreements. More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partner Anne Beaumont discussing the recent Risk Alert issued by the SEC Office of Compliance Inspections and Examinations (OCIE).  More

What’s happening right now in the world of LIBOR transition?  Friedman Kaplan’s LIBOR Transition Task Force sees four major themes More

Since Congress passed the landmark Coronavirus Aid, Relief, and Economic Security Act (CARES Act) last week, which is designed to provide financial relief to U.S. individuals and businesses in response to the economic fallout from the coronavirus (COVID-19) pandemic, business owners have rightfully been focused on the “Paycheck Protection Program” included under the CARES Act and how they might benefit from the provision of aid thereunder in the form of $349 billion in loan financing. This article, which is one of a series our firm is authoring in our effort to help individuals and businesses navigate our now rapidly shifting economic and legal landscape, distills the most important aspects of the program. More

On March 23, 2020, the Co-Directors of the Securities and Exchange Commission’s (“SEC”) Division of Enforcement issued a warning highlighting the need for heightened vigilance against insider trading amidst the market volatility caused by the novel coronavirus (COVID-19) pandemic. More

The global pandemic caused by the novel coronavirus (COVID-19) has upended our lives and businesses in ways, and to a degree, that few would have anticipated even a month ago. Most tragically, estimates now project that hundreds of thousands, and perhaps millions, of people will be infected, and the death rate will continue its terrible climb. But even while we mourn the human toll of this global health emergency, we recognize that businesses must reckon with the coronavirus’s devastating blow to “business as usual.”  More

The coronavirus crisis presents a “perfect storm” for hedge funds in terms of timing, ramping up as it has just before a quarter-end, when NAVs are due and subscriptions and redemptions are processed, not to mention in the middle of audit season. As March 2020 month-end approaches, investment managers face the challenge of determining their funds’ NAVs in the most daunting market and operational conditions imaginable.  More

With little fanfare, New York has recently enacted a complete overhaul of its fraudulent conveyance law.  More

What’s happening right now in the world of LIBOR transition? Friedman Kaplan’s LIBOR Transition Task Force sees five major themes. More

While the loan markets have yet to adopt SOFR as a replacement benchmark to LIBOR, lenders and borrowers have started using the ARRC’s fallback provisions or variations thereof in credit agreements. However, in almost all cases credit agreements continue to contain other standard provisions that arguably are inconsistent with the ARRC provisions and should be removed. More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partner Anne Beaumont discussing the implications for hedge fund managers of the SEC's July 12, 2019 Staff Statement on LIBOR Transition.  More

In an article published by Private Equity Law Report, Partners Anne Beaumont and Lance Gotko provide an overview of the SEC’s whistleblowing rules, summarize key SEC and EEOC enforcement actions over the last several years, and offer practical advice to private equity firms on how to avoid running afoul of the applicable rules. More

What’s happening right now in the world of LIBOR transition? Friedman Kaplan’s LIBOR Transition Task Force sees five big trends. More

In the article, Ms. Beaumont discusses legislation that the Alternative Reference Rates Committee (ARRC) of the Federal Reserve Board of Governors and the Federal Reserve Bank of New York are considering asking the New York State Legislature to pass that would apply to certain types of existing or “legacy” contracts referencing Libor.  More

Friedman Kaplan litigation partner Anne Beaumont was quoted extensively in ACA Compliance Group's February 25, 2019 issue of ACA Insight in an article on investment advisory firms' need to prepare for the coming transition away from the LIBOR interest rate benchmark. More

2018 was a blockbuster year for the telecommunications industry. Sprint and long-time firm client T-Mobile agreed to merge; AT&T closed its deal for the acquisition of Time Warner Inc.; Disney acquired Fox; and Comcast acquired Sky – a transaction with which the firm was tangentially involved. More

Among the significant changes effectuated in 2018 to Federal Securities laws and regulations are amendments to existing regulations that (i) ease periodic reporting requirements for smaller public companies; (ii) allow public reporting companies to utilize an additional exemption for securities offerings; and (iii) expand private companies’ ability to issue stock, options or other securities under compensatory benefit plans. In addition, the Securities and Exchange Commission gave guidance on cyber-related disclosure issues and fraud. This article summarizes these changes and guidance. More

The announced discontinuation of the London Interbank Offered Rate (LIBOR) at the end of 2021 has the potential to be the “Y2K bug” of the financial sector: for firms that devote proper attention and resources on an ongoing basis, it should be more or less a non-event, while those that fail to address it face serious economic, operational and legal consequences. Firms of all shapes and sizes – large and small, financial and non-financial – should already be acting to protect their interests. More

Both the State of New York and New York City have enacted new legislation addressing sexual harassment in the workplace. More

In 2018, Friedman Kaplan launched our Israel Practice, headed by Asaf Reindel. The Israel Practice represents Israeli companies in connection with their US operations (including entity formation, employment matters, commercial agreements, debt and equity financing, M&A transactions, litigation, and many other aspects of their U.S. operations). We also represent U.S. clients doing business in Israel. More

FK partners Lance Gotko and Anne Beaumont have been quoted extensively in a three-part series discussing employee handbooks published by The Hedge Fund Law Report. The series outlines the benefits to fund managers of adopting employee handbooks, discusses relevant law, highlights important components funds should include, and provides advice as to how to avoid common errors or omissions. More

The Hedge Fund Law Report has published an article by Friedman Kaplan partner Anne Beaumont and associate Alexander Levi regarding the recent U.S. Supreme Court decision in Digital Realty Trust, Inc. v. Somers, which addresses the scope of whistleblower anti-retaliation protection under Dodd-Frank. More

Friedman Kaplan partner Anne E. Beaumont has authored an article in the Hedge Fund Law Report on the trial court, Appellate Division, and Court of Appeals decisions in Davis v. Scottish Re Group Ltd., as well as the implications for investors, funds and managers of the Court of Appeals’ ultimate decision. More

Friedman Kaplan partner Anne E. Beaumont has authored an article in the Futures and Derivates Law Report summarizing notable cases and general trends in derivatives litigation in 2017. More

Friedman Kaplan partner Christopher Colorado, along with Edi M. Grgeta and Konstantin A. Danilov of Analysis Group, co-authored an article in the November/December edition of the Journal of Corporate Renewal entitled “Sears, SRG, and the Economics of Fraudulent Conveyance.” More

Friedman Kaplan partner Mala Ahuja Harker, a former Assistant United States Attorney in the District of New Jersey, offered commentary on the bribery and corruption trial of Senator Robert Menendez to WNYC’s Jami Floyd, host of “All Things Considered,” concerning the trial, the prosecution's unique "stream of benefits" theory, and the potential path forward. More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partner Anne Beaumont discussing the consequences of an end to the publication of the London Interbank Offered Rate (LIBOR), which was announced in a recent speech by Andrew Bailey, Chief Executive of the U.K. Financial Conduct Authority (FCA). More

The New York Civil Practice Law and Rules provide an accelerated procedure to enforce "instruments for the payment of money only" and out-of-state judgments, offering plaintiffs the opportunity to save time and money. Under CPLR 3213, plaintiffs can begin an action by filing a summary judgment motion instead of a complaint, and, if successful, can obtain a judgment while avoiding any discovery, often the most expensive phase of litigation. More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partners Anne Beaumont and Lance Gotko discussing the Obama Administration's call to action for state legislators to significantly curtail employers' ability to use and enforce non-compete provisions. The measure follows efforts already made by some states to attempt to restrain non-competes. More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partners Anne Beaumont and Lance Gotko discussing the recent SEC settlement with BlueLinx Holdings Inc. relating to provisions the company had included in severance agreements. Those provisions restricted former employees’ abilities to disclose the company’s confidential information and to receive rewards as SEC whistleblowers. The settlement builds upon the principles articulated in the SEC's April 2015 settlement with KBR, Inc. The BlueLinx and KBR consent orders together underscore the SEC’s view that any provisions that might stifle an employee’s communications with the SEC – either explicitly (as in KBR) or implicitly (as in BlueLinx) – are prohibited, regardless of the employer’s intent, its efforts (or lack thereof) to enforce them or their actual chilling effect. These developments have implications not just for the hedge fund industry: they potentially affect any firm that is subject to SEC oversight. More

In the four decades since the Racketeer Influenced and Corrupt Organizations Act (“RICO”) was enacted, the private right of action it created has been more regularly used as a type of federal common law fraud claim than as originally intended – a tool to provide relief to legitimate businesses whose industries had been infiltrated by organized crime. In recent years, this trend has continued into the world of health care as more and more plaintiffs are using civil RICO to pursue racketeering allegations with varying degrees of success. More

On Wednesday, May 11, 2016, President Obama signed into law the Defend Trade Secrets Act (DTSA). The DTSA is a significant piece of legislation that creates a federal cause of action for misappropriation of trade secrets and provides for enhanced damages for trade secret violations.

But despite its name, the Act also provides immunity for whistleblowers who disclose a company’s trade secrets under certain conditions. We believe that all employers should be aware of this aspect of the DTSA, which we briefly summarize here. More

The Hedge Fund Law Report has published an article by Friedman Kaplan litigation partner Anne Beaumont and litigation associate Nora Bojar discussing the recent ruling in Chanin v. Machcinski.  More

Friedman Kaplan partner Ricardo Solano, Jr. has published an article in Pharmaceutical Compliance Monitor addressing the implications and requirements for success that corporate health care providers should expect should they enter into corporate integrity agreements. More

Earlier this month, a group of professors from Columbia and Harvard Law Schools published a seemingly innocuous scholarly paper titled “The 8-K Trading Gap,” which comes to a startling conclusion: data show that insiders of corporate issuers appear routinely to have access to supranormal profits by purchasing the issuers’ securities during the period between the occurrence of an event reportable on U.S. Securities and Exchange Commission Form 8-K and the filing of the 8-K. More