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COVID-19 Legal Resources

Olshan Frome Wolosky LLP is gathering information related to COVID-19 issues and concerns to assist clients in navigating the national and New York states of emergency.

We will continue to prepare updates during this fluid situation. Clients and friends are encouraged to contact us with specific legal or operational questions or issues.

Showing 16 posts from April 2020.

Reese Witherspoon’s Clothing Company Receives Backlash for Changing Rules in Teacher Appreciation Dress Giveaway for Covid-19

In 2017, California-based clothing company, Sunny Co. Clothing, posted a photo to its Instagram account displaying a model wearing Sunny Co. Clothing’s “Pamela” red, full-piece bathing suit. The caption stated that every person who reposts the image tagging Sunny Co. Clothing “will receive a FREE Pamela Sunny Suit.” Sunny Co. Clothing failed to set a maximum on the number of swimsuits available for the promotion. The post quickly went viral and Sunny Co. Clothing found itself in the undesirable position of not being able to fulfil its promotional obligations as it simply did not have enough swimsuits to meet the demand. Sunny Co. Clothing publicly learned the importance of having complete and conspicuously disclosed contest rules for social media giveaways. Reese Witherspoon’s fashion label, Draper James, is now learning the same lesson several years later. Read More ›

Paycheck Protection Program Update – New Funding and New Eligibility Guidance

On April 24, 2020, the President signed into law additional funding for the Paycheck Protection Program (“PPP”). According to a joint press release from Secretary Mnuchin and SBA Administrator Carranza, the Small Business Administration (“SBA”) will resume accepting PPP applications on Monday, April 27th at 10:30 AM. Read More ›

Paycheck Protection Program Update – SBA Adds New Restrictions on Access

On April 23, 2020, the Small Business Administration issued new guidance apparently intended to severely restrict access to Paycheck Protection Program (PPP) loans. Although apparently issued in response to large PPP loans made to several publicly traded companies, the new guidance is not limited to public companies and applies to all PPP loan applicants. This client alert explains the new guidelines and related considerations. Read More ›

COVID 19 – Update on Federal and State Leave Laws

On March 18, the Families First Coronavirus Response Act (“FFCRA”) was signed into law providing, among other things, paid leave and enhanced FMLA leave to employees of companies with less than 500 employees. Since then, states have enacted or revised their sick and/or family leave policies to take into account COVID-19. This client alert provides an update on the FFCRA and describes important changes and updates to state leave programs in the tri-state area.   Read More ›

COVID 19: Quarantine-Caused Vacancy Could Jeopardize Your Property Insurance Coverage

Every landlord carries property insurance protecting against damage sustained by real property.  But current stay-at-home orders may permit insurers to disclaim coverage by relying on typical exclusions for vacant property.  This client alert authored by Jeremy King identifies a potential pitfall in coverage contained in almost all property insurance forms and suggests that landlords act now to make sure that stay-at-home orders do not result in limitations on coverage available for future losses.  Read More ›

COVID-19 Legal Resources

Olshan Frome Wolosky LLP is gathering information related to COVID-19 issues and concerns to assist clients in navigating the national and New York states of emergency.

We will continue to prepare updates during this fluid situation. Clients and friends are encouraged to contact us with specific legal or operational questions or issues. Read More ›

Update – COVID-19 Hardship Distributions from Qualified Retirement Plans

As temporary furloughs and layoffs become more prevalent during the COVID‑19 pandemic, employees and employers are looking at the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) economic relief provisions to help with financial struggles. One such relief provision that was discussed in an earlier client alert is the COVID‑19 hardship distribution, which allows employees to withdraw up to $100,000 on a tax-favored basis from an eligible retirement account for expenses and losses resulting from COVID‑19. Read More ›

NY Executive Order 202.8 Should Not Stop Commercial Lease Enforcement

Governor Cuomo’s Executive Order 202.8 freezes evictions of any residential or commercial tenant through June 18, 2020, but does not expressly restrict taking enforcement actions against tenants short of an actual eviction. Read More ›

"Main Street” Loan Facilities under the CARES Act

On April 9, 2020, the Federal Reserve announced the details of a new program established under the  CARES Act, the Main Street Lending Program, intended to assist small and medium-sized businesses impacted by the COVID-19 pandemic by making up to $600 billion in loans available for eligible borrowers. The program is designed for businesses with up to 10,000 employees or up to $2.5 billion in 2019 revenues. This client alert summarizes the terms of the loans available under this new program. Read More ›

FDA and FTC Send Warning Letters to Companies Claiming That Products Can Help Boost Immune Systems Relating to Coronavirus Prevention

The FDA and FTC have issued joint warning letters to companies selling products that they claim are able to treat or prevent coronavirus. The regulators sent the first set of such warning letters to several companies on March 6, 2020 and have continued to send such warning letters since. Read More ›

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