Perspectives on Private Companies
37 total results. Page 1 of 2.
On September 21, 2022, after a four-week jury trial and on the morning of closing arguments, Douglas Anderson accepted a settlement of $95 million for his claims for wrongful removal as an owner and manager of Simplex, the proprietary trading firm he co-founded.
ArentFox Schiff represented Tuthill Corporation on the sale of the Fill-Rite and Sotera brand and assets to the Gorman-Rupp Company for $525 million, completed May 31, 2022.
This post explains the rules that apply to Illinois corporations and business entities organized in other jurisdictions.
If yours is one of the many companies considering new employment incentives, enhanced benefits, and retention bonuses, you should also consider taking another look at your non-compete covenants at the same time. They might already be outdated and unenforceable.
After years of large retailers and malls struggling prior to the COVID-19 pandemic and the most vulnerable retailers filing for bankruptcy relief in its immediate wake in early 2020, the US economy rebounded strongly with the aid of government assistance and low interest rates.
This post explains when minority shareholders may owe fiduciary duties and steps that shareholders can take to eliminate any fiduciary duties they might owe.
Schiff represented Tuthill Corporation on the sale of its Pump Group to Ingersoll Rand Inc. for $85 million, completed December 1, 2021.
Schiff Hardin LLP advised Cresset Asset Management, LLC in its merger with Berman Capital Advisors, LLC, creating a $19.8 billion multi-family office serving clients from 11 offices across the country.
In September 2021, Schiff Hardin LLP advised the new owners in the management buyout of the Beer Shop in downtown Oak Park, Ill.
On Sept. 9, President Joe Biden announced that the U.S. Department of Labor is developing an emergency rule to require all employers with 100 or more employees to ensure their workforces are fully vaccinated or show a negative test at least once a week.
Schiff Hardin LLP is pleased to announce that Partner Adam Diederich has been named among Crain's Chicago Business' Notable Rising Stars in Law for 2021.
Schiff Hardin served as deal counsel to Deringer-Ney in its acquisition of the business and assets of Hoyt Corporation, which was completed on April 30, 2021.
ARPA Payroll Tax Credits Include Leave Taken by Employees to Receive or Recover from COVID-19 Vaccinations
The American Rescue Plan Act of 2021 (ARPA) allows employers with fewer than 500 employees to claim refundable tax credits to offset the cost of providing COVID-19-related paid sick and family leave to employees, including leave taken by employees to receive or recover from COVID-19 vaccinations.
Many corporations, limited liability companies, and other similar entities will soon be required to disclose their beneficial owners to the United States government.
Death, Disability, Divorce, and Disputes: Know What Your Company’s Governing Documents Dictate in the Event of a Crisis
2020 was an unprecedented year for business owners. It brought a pandemic, a deep recession, a civil rights movement, and civil unrest in cities across America.
Small to Mid-Size Businesses: New SEC Changes Simplify and Increase Access to Capital and Investment
On November 2, the U.S. Securities and Exchange Commission (SEC) adopted final rules relating to the modernization and harmonization of the private offering framework. These rules were initially proposed on March 4, 2020, and were adopted with few changes based on comments received.
Minority owners of a business face unique challenges. With limited or no control over the management and governance of a business, minority owners can be unfairly left in the cold or squeezed out. However, deliberate preparation and negotiation at the initial stages of the business can set up minority owners with the necessary tools to eliminate or reduce many of these difficulties and even avoid future conflict.
Unlike businesses with a single controlling owner or several owners, a 50/50 business by its very nature is ripe for disagreement between its owners. Owners of a 50/50 business will need to proactively consider how to handle disagreements when setting up their business venture and drafting their operating agreement, shareholders agreement, or partnership agreement.
This post explains steps that Illinois LLCs and their majority members can take to protect otherwise privileged communications from disclosure to minority members in advance of and during litigation.
Business divorces are often messy. Those who individually or collectively control a private business sometimes seek to force out owners of non-controlling shares.
The U.S. House of Representatives earlier today passed H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020, in a 417-1 bipartisan vote.
On April 30, the IRS released guidance providing that Paycheck Protection Program (PPP) loan borrowers may not deduct costs that are paid for with loan proceeds that are forgiven under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Stephen J. Dragich, Matthew Galo, Evgeny Magidenko, David P. McHugh, Robert R. Pluth, Nicholas M. Tipsord, Alexander B. Young
Earlier today, the U.S. Senate passed a bill appropriating additional funding to the Paycheck Protection Program, which ran out of funds in the middle of last week. The House is expected to pass the measure on Thursday, after which President Trump is expected to sign it into law.
UPDATE: Continuing Business Operations Under More Statewide “Shelter in Place” and “Stay at Home” Orders
Since last week when we wrote about the “shelter in place” and “stay at home” orders issued in California, New York, and Illinois, many more states have issued similar orders. The general discussion from our prior alert still applies, but below is an up-to-date list of the states that have adopted the stay-at-home approach to fighting the spread of COVID-19.