By Eugene G. Bernardo II and David M. DiSegna Paragraph (b)(5) of Rule 15c2-12 (17 C.F.R. 240.15c2-12) prohibits a participating underwriter from purchasing or selling municipal securities in an offering unless it has reasonably determined that an issuer or obligated person of the municipal securities has undertaken in a continuing disclosure agreement to provide certain...

Companies that close a venture capital financing usually have multiple investors. Customarily, there will be a venture capital firm or other institutional investor that leads the investment round by investing the most money (referred to as the Lead Investor) and other investors that follow on with smaller investment amounts (referred to as the Follow-On Investors). The Follow-On Investors could...

PS&H Partner Paul Kessimian, Chair of the firm’s Litigation Practice Group, shared his thoughts with RI Lawyers Weekly on the recent adoption of deposition conduct standards by U.S. District Court Judge John J. McConnell Jr. In the case of Soares v. Prospect CharterCARE SJHSRI, LLC, et al., Judge McConnell found that the rules of conduct, established 25 years...

By Alicia J. Samolis On Friday, Governor Charlie Baker signed into law An Act (the “Act”) relative to the judicial enforcement of noncompetition agreements that fundamentally changes the way noncompetition agreements are regulated in Massachusetts. The Act severely limits the use of agreements signed after October 1, 2018 which restrict an employee’s or independent contractor’s ability to...

The concept of voluntarily restructuring solvent insurers has been met with some skepticism in the United States.  Sure novating and commutating policies of insolvent insurers have been, at times, necessary, but legally novating (replacing one insurer with another) policies of a solvent insurer? The purpose behind voluntarily restructuring is self-evident: to use otherwise tied-up capital...

On July 31, the Massachusetts Legislature passed an omnibus economic development bill. Of major significance, the bill contains provisions that fundamentally change the way employee noncompetition agreements are regulated in Massachusetts. While the legislation does not abolish noncompetition agreements in the Commonwealth, the legislation substantially limits the terms upon which employers can enter into noncompetition agreements with...

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