Forchelli Deegan Terrana LLP’s Securities Litigation and Regulation practice group is pleased to share with you the below alert, which details an issue argued this week in the U.S. Supreme Court. It seems that the legislative acorn of Rule 10b-5 was never meant to be grown outside of the federal courtroom, and in the SEC’s own backyard.  The Securities and Exchange Commission’s internal enforcement division actions may…

With interest rates for commercial loans at levels not seen since the 1990s, origination activity has trickled to a standstill for most commercial real estate and commercial and industrial loans, as credit and underwriting standards have tightened and borrowers are trying to wait it out until interest rates drop to a predictable level. Despite the uncertainty and dire predictions that the we are headed for…

In September 2022, the Corporate Transparency Act (the “CTA”) was enacted by Congress adopting new beneficial ownership information (“BOI”) reporting for many U.S. businesses.  The CTA applies to corporations, limited liability companies, and various partnerships. There are a number of businesses that will be exempted from the filing requirements of the CTA, including banks, credit unions, securities brokers or dealers, insurance companies, tax exempts, and…

Industrial Development Agencies (IDAs) are public benefit corporations established pursuant to the NY General Municipal Law that provide benefits to for-profit companies in order to incentivize job creation and economic development. The typical applicant to the IDA is an owner or developer or a company planning on leasing an entire building. However, companies planning on leasing commercial or industrial space in a multi-tenant building should…