Almost thirty years ago, Maryland’s General Assembly passed the Equal Pay for Equal Work Act (Act), imposing an obligation on Maryland employers to pay employees equal amounts for the same work, regardless of the employee’s sex. Effective October 1, 2020, the General Assembly amended the Act, imposing new restrictions on employers both during and after the hiring process. Companies employing workers in Maryland should review and adjust their interviewing and hiring policies to comply with the new law and avoid . . . Read More
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The Biden Administration plans to adopt a more forceful approach to the COVID-19 pandemic, which will likely include use of the Defense Production Act of 1950 (DPA). As we discussed last April, the DPA authorizes the U.S. government to compel prioritized sales and direct industrial production. For government contractors that receive orders issued under the DPA, operations and contractual obligations can be disrupted, so it is critical to know your rights and obligations under the statute. The DPA authorizes the . . . Read More
Click here to view the recorded session. Healthcare businesses represent essential transaction opportunities in the middle market. Despite the current pandemic, healthcare remains a principal area of investment; however, M&A activity has its own unique challenges that require strategic advance planning to avoid merger complications. Join sbLiftOff’s Sharon Heaton and PilieroMazza’s Kathryn Hickey for a one-hour webinar to discuss what the current healthcare M&A marketplace looks like and how you can help maximize your efforts for a successful transaction. Areas to . . . Read More
On October 26, 2020, the Small Business Administration (SBA) issued a notice in the Federal Register that, among other updates, announced two new forms, 3509 and 3510 (the Forms), related to the Paycheck Protection Program (PPP). Form 3509 is for for-profit businesses, while 3510 applies only to non-profit entities. These Forms will be sent by PPP lenders only to PPP borrowers who received a principal loan amount of $2 million or more, and borrowers will have ten days to complete it. According to . . . Read More
In August, we wrote about a memorandum issued by Director of National Intelligence John Ratcliffe that waived the Department of Defense’s (DOD) requirements under Section 889 of the National Defense Authorization Act for Fiscal Year 2019. The Federal Register published an interim rule on July 14, 2020, that implemented Section 889, which prohibits agencies from procuring telecommunications equipment and services from Huawei Technologies Company, Hangzhou Hikvision Digital Technology Company, Hytera Communications Company, Dahua Technology Company, and ZTE Corporation. The DOD originally released a memorandum on July . . . Read More
As part of our ongoing efforts to help support the communities in which we serve, PilieroMazza ’s Corporate Social Responsibility Committee recently made a monetary donation to the Bill & Melinda Gates Foundation to assist in the fight against COVID-19. The Foundation is currently working to create a safe, effective COVID-19 vaccine that will likely be ready by early next year. The hope is that this development will give the world a chance to eliminate the threat of the pandemic—and return to a semblance of normalcy. Donations go towards a . . . Read More
The Paycheck Protection Program (PPP) created through the Coronavirus Aid, Relief, and Economic Security (CARES) Act offered much-needed financial relief to businesses directly impacted by the COVID-19 pandemic. Through the program, eligible businesses could obtain a loan designed to keep employees on the company payroll, even when company revenues were impacted by stay-at-home and social distancing orders. And, in many cases, PPP loans are eligible for total forgiveness, saving companies from the additional financial burden of paying back an often . . . Read More
In a typical investment or acquisition, the buyer conducts due diligence of the target company. Due diligence involves extensive review of the target company’s history, finances, and operations, including its contracts, customer and supplier relationships, and employees, to understand the risks and opportunities associated with the investment or acquisition. Healthcare companies have their own unique requirements and structures, so a buyer’s due diligence must consider and thoroughly evaluate these additional factors to mitigate the buyer’s risk post-closing. Professional Corporations and . . . Read More
