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Price gouging enforcement and litigation is front and center for company counsel and business managers nationwide. Our weekly round up highlights some of the most relevant news and information to our clients and friends. Iowa Senators Send Letter to DOJ and FTC Urging Action On September 15, 2020, Senators Chuck Grassley (R-IA) and Joni Ernst (R-IA) sent a letter to the Department of Justice and Federal Trade Commission urging the government agencies to take action in response to Iowa’s recent derecho. The senators requested that the “departments investigate allegations of wrongdoing, fraud and price gouging related to the Iowa derecho,…
For many sponsor-backed and other highly leveraged private companies, the business impact of COVID-19 is just beginning to apply pressure to financial covenant compliance.  As borrowers and private credit (or other) lenders think through options on how best to address pending or anticipated defaults, structured preferred equity should be considered as a versatile tool in the toolbox. Structured preferred equity can take different forms but is generally characterized as equity filling gaps between traditional equity and debt positions on a balance sheet. Whether consideration for covenant holidays, right-sizing balance sheets through debt for equity swaps or a method of “handing…
Proskauer is proud to represent Rockefeller Philanthropy Advisors d/b/a UNITE, a non-profit collaborative started by Special Olympics Chairman Tim Shriver, as pro bono counsel in connection with the planning and production of “The Call to Unite,” a 24-hour livestreaming event beginning on Friday, May 1 at 8 p.m. EDT. Mr. Shriver is leading the event, which will feature Oprah Winfrey, Presidents William J. Clinton and George W. Bush, Deepak Chopra, and a multitude of other guests. Given the challenges facing people across the globe from the Covid-19 pandemic, Mr. Shriver sought a way to come together and create a much-needed…
COVID-19 has presented us with unprecedented challenges around the globe. We wish everyone good health. Our Firm remains committed to the many students we work with on a regular basis through our CSR programs. Although the virus has made it impossible to continue our face-to-face mentoring, we are connecting through webinars, phone and online meetings. Most recently, we were able to virtually host a class with John Jay College students on the topic of law and social justice. Our pro bono partner, Bill Silverman, led the videoconference, and we had wonderful attendance and participation as we discussed the need…
To consider the great need, among people of limited means, for civil legal services during the COVID-19 crisis, a good starting point is where we were before the crisis started.  In short, civil legal resources for the poor in the United States are woefully inadequate.  According to the Legal Services Corporation, which documents the justice gap in America, between 62% and 72% of civil legal needs among low-income Americans are addressed inadequately or not at all.  Indeed, the United States fares very poorly in this regard when compared to other western democracies. The current health crisis would be devastating under…