How are businesses managing their operational response?
Given the scale of the crisis, many businesses and sectors will require government support in various forms including potentially crisis loans, state guarantees and tax waivers or deferrals.
US securities law liability for securities issuers outside of the United States in a post-Toshiba environment
Publication | February 2020
Authors: Kevin Harnisch, Andrew Price, James Bateson and Patrick Doyle with Norton Rose Fulbright; and David Ho and Nepomuk Loesti with American International Group, Inc.
A recent decision from a US appellate court may change the way that non-US companies view the sale of their securities in the US. That case, Stoyas v. Toshiba Corp., found that a foreign issuer could be liable under US securities laws for a sale of its securities in the US, even if the company was not involved in the sale. This creates real risk for publicly-traded, non-US companies.
In the full white paper, we discuss:
- The recent decision in Toshiba and the circumstances under which US courts have decided that a foreign issuer can be held liable for transactions in its securities under US securities laws.
- Practical steps foreign issuers can take to mitigate exposure risk to US securities laws.
Recent publications
Global: COVID-19 and insurance cover
Many organisations are facing significant losses as a result of the COVID-19 (coronavirus) pandemic.
Global: State intervention in the aviation sector: State aid issues
The below Q&A addresses the state aid implications of heightened State intervention as a result of COVID-19 – in particular, as it applies to the aviation industry in the EU. In short, the immediate response from the European Commission (the Commission) should give companies some comfort that emergency assistance offered by EU Member States can be designed in compliance with state aid law.
Subscribe and stay up to date with the latest legal news, information and events...