In a significant development, US Deputy Attorney General, Lisa Monaco, announced a new ‘Safe Harbor Policy’ at the Society of Corporate Compliance and Ethics’ Compliance & Ethics Institute in Chicago on October 4, 2023. Learn more here Monaco used the opportunity to inform attendees about the policy, which focuses on voluntary self-disclosures in the context…
The surge in M&A activity within the biotech sector in recent years is now leading to a surge in shareholder lawsuits. Investors are seeking to block or rescind these deals, launching securities lawsuits despite the limited likelihood of their success in preventing a finalized merger or overturning an approved one. As the high tide of…
Davis Polk & Wardwell played a leading role advising ExxonMobil on its all-stock $59.5 billion acquisition of Pioneer Natural Resources, a shale rival. This significant move is one of the largest in what has been a slow market year. The implications of this acquisition are substantial, expanding ExxonMobil’s focus on fossil fuel production. This comes…
In the recent Fall 2023 installment of the Notice of Appeal – a quarterly newsletter that reviews Third Circuit opinions with impact on white collar defense lawyers – some significant legal developments were published that warrant a considered review. The newsletter was released against the backdrop of an increasingly complex and ever-evolving landscape of corporate…
In a recent and significant development, Deputy Attorney General Lisa O. Monaco announced a Department of Justice-wide safe harbor policy for voluntary self-disclosures connected with mergers and acquisitions on October 4, 2023. As a result of her remarks during the Society of Corporate Compliance and Ethics’ 22nd Annual Compliance and Ethics Institute, it has become…
In light of the increasing trend of cross-border corporate expansions, understanding mergers and acquisitions in foreign markets has become vital for legal professionals across the globe. The “Canadian Mergers & Acquisitions: A Guide for Investment Banks, Bidders, and Boards” (10th edition), compiled by Davies Ward Phillips & Vineberg LLP, is a comprehensive resource catalyzing our…
In recent developments this October, Lisa Monaco, the Deputy Attorney General, publicly shared insights about the Department of Justice’s (DOJ) newly implemented Mergers & Acquisitions Safe Harbor Policy during her remarks at the Society of Corporate Compliance and Ethics’ 22nd Annual Compliance & Ethics Institute. JD Supra reports on it more comprehensively. The new Safe…
In a move marking significant growth within its corporate business structure, prominent law firm BakerHostetler has added Cleve Glenn, an experienced legal professional, to their enterprise. Announced on Tuesday, Glenn will now serve as a partner in the firm’s business practice group and will also be a member of their mergers and acquisitions (M&A) and…
The Department of Justice (DOJ) has recently implemented a novel Mergers and Acquisitions (M&A) Safe Harbor Policy, which has clear-cut implications for both acquiring and acquired businesses in the M&A ecosystems. For acquiring companies, this policy essentially enforces a six-month window from the date of closing within which they are expected to disclose misconduct discovered…
In an effort to continue fostering corporate voluntary disclosures, the Department of Justice (DOJ) recently introduced revised voluntary disclosure policies concerning mergers and acquisitions. Revealed during the annual Society of Corporate Compliance and Ethics meeting held in Chicago, these new policies outline the DOJ’s approach to supporting corporations in maintaining their transparency practices. The luminous…
It’s a daunting reality for legal professionals working in mergers and acquisitions (M&A) within corporations and law firms globally – pre-merger misconduct is a substantial risk. Yet, there’s new hope on the horizon. The U.S Department of Justice has recently announced a Department-Wide M&A Safe Harbor Policy, creating temporary relief. The policy aims to provide…
The US Department of Justice (DOJ) has made a noteworthy policy announcement targeting corporations that are participating in mergers and acquisitions. At the heart of this policy is a plan to reward corporations with robust due diligence and compliance programs. Promoting proactive legal action, the DOJ has created a “safe harbor” period. Under this policy,…
The landscape of mergers and acquisitions (M&A) in Canada experienced significant flux throughout the third quarter of 2023, particularly within the energy sector. This special edition will highlight the core activities and trends that have shaped this volatile period. The entirety of the information has been gleaned from the “Canada’s M&A Landscape Q3 2023: Special…
The Department of Justice (DOJ) has announced a significant change in its policy concerning mergers and acquisitions (M&A), which should pique the interest of multinational corporations and major law firms alike. The DOJ recently unveiled a Department-wide Safe Harbor policy, aimed at encouraging companies to voluntarily report any uncovered misconduct occurring during the M&A process….
In a bid to encourage corporate transparency and promote fair business practices, the US Department of Justice (DOJ) revealed a new initiative on October 4th, 2023. US Deputy Attorney General Lisa Monaco announced the adoption of a new Mergers & Acquisitions Safe Harbor Policy. This move is aimed primarily at incentivizing companies to self-disclose any…
In an announcement that may indeed prompt more careful considerations within the business acquisitions sector, the U.S. Department of Justice (DOJ) has shared a new policy concerning voluntary self-disclosures of acquired entities’ criminal misconduct. The statement was made by none other than Deputy Attorney General Lisa Monaco. The noteworthy aspect of this policy lies in…
Paul Hastings LLP, in a major personnel move, has reportedly hired an insurance mergers and acquisitions team composed of three members from Sidley Austin LLP and Mayer Brown LLP. The firm has taken this step to strengthen its global M&A practice. The team, coming from esteemed legal advisory backgrounds, is expected to bring a wealth…
State-level oversight in the United States is increasingly targeting mergers and acquisitions (M&As) as well as other strategic transactions concerning healthcare provider businesses. This trend will likely carry significant implications, shaping growth strategies within major markets. From new collaborations between providers and payors, to the rise in strategic partnerships, the landscape of US healthcare is…
In a significant development, Lisa Monaco, Deputy Attorney General, announced the Department of Justice’s (DOJ’s) new “Safe Harbor Policy” that affects mergers and acquisitions (M&A). This news was disclosed on October 4, heralding a distinctly proactive approach to corporate compliance within M&A. The Safe Harbor Policy could potentially provide a means for acquiring companies to…
In a fresh addition to its revised white-collar criminal enforcement and compliance policies, the United States Department of Justice (DOJ) recently launched a new “Mergers & Acquisitions Safe Harbor Policy”. This announcement was made by Deputy Attorney General, Lisa Monaco. As per this policy, companies that uncover criminal misconduct in the process of mergers and…
On October 5, 2023, an announcement was made by the Deputy Attorney General, Lisa Monaco, regarding the implementation of a new safe harbor policy within the mergers and acquisitions (M&A) realm. This policy is bound to have a broad impact on the M&A landscape as it was announced to be implemented Department-wide, extending to aspects…
In an intriguing development in the field of healthcare and antitrust law, hospital acquisitions in Louisiana may elude Federal Trade Commission (FTC) review under the Hart-Scott-Rodino Antitrust Improvements Act (HSR Act). This conclusion arises from a recent federal district court decision that may soon become settled law. If this happens, more hospital acquisitions may attempt…
Deputy Attorney General Lisa O. Monaco made a significant announcement on Wednesday, Oct. 4, regarding a new ‘Safe Harbor Policy’ implemented by the Department of Justice (DOJ). The policy pertains to voluntary self-disclosures (VSD) derived from the process of mergers and acquisitions. The primary intent of the policy is to facilitate corporations and law firms…
In a noteworthy development last month, the Federal Trade Commission (FTC) reopened its internal challenge of Microsoft’s proposed $69 billion acquisition of Blizzard, Inc., commonly known as Activision. This action followed a thorough assessment of numerous domestic and international issues linked to the planned deal. According to a recent report, this closely observed merger faced…
On October 4, 2023, Deputy Attorney General Lisa Monaco put forth a new safe harbor policy that could protect corporations from criminal prosecution for misconduct they reveal at companies they are buying or have just bought. This recent move from the Department of Justice will likely bring significant changes to the legal landscape around mergers…