June 16, 2017
Interpace Diagnostics Group, Inc. announced the closing of its underwritten public offering in the amount of $13,700,000. EG&S acted as counsel to Maxim Group LLC, the sole book-running manager.
June 12, 2017
Client Alert: New York Paid Family Leave Law Deductions Should Start July 1, 2017
The PFL program – both the amount of leave time available and the monetary benefits – will be phased in beginning on January 1, 2018. However, prudent employers will ACT NOW to ensure they are on the same page with their payroll providers regarding deductions from payroll that should commence on July 1, 2017.
Click here to read the alert.
June 12, 2017
Client Alert: New York Enacts Paid Family Leave Law
New York’s Paid Family Leave (“PFL”) law will be phased in beginning on January 1, 2018. The law will be the most comprehensive in the country, providing paid leave to virtually all employees in New York, regardless of the size of the employer. The pertinent features of the PFL law are summarized here.
June 07, 2017
KBL Merger Corp. IV announced the closing of its initial public offering in the amount of $100,000,000. EG&S acted as counsel to KBL.
June 07, 2017
H-1B Visas and New Developments in Immigration Law
The United States Immigration and Citizenship Services (“USCIS”) recently announced that the H–1B work visa quota was exhausted for the fiscal year 2018 within the first four application days. The previous year, 85,000 H-1B visas were made available for new hires and approximately 236,000 requests were filed; a lottery was conducted and effectively 36% of all submitted H-1B visa requests were eligible. Nearly two-thirds of H-1B candidates were not selected and may be out of legal options.
Click here to read more.
May 26, 2017
‘Spotify Rule’ Would Help New York Stock Exchange Woo Unicorns
The New York Stock Exchange is seeking to change its listing standards as it vies for Spotify AB and other hot startups that are considering an unusual tactic called a direct listing.
“What the [NYSE] rule change does is it responds to the unicorns that have enough cash that they want to be publicly traded without going through an underwriting,” said Douglas Ellenoff, a partner at Ellenoff Grossman & Schole LLP.
May 23, 2017
EG&S is proud to sponsor Nadlan City 2017 Conference in NY. Join us for informative speakers and high-level networking with owners, developers, investors, lenders and other professionals from the Israeli and New York real estate communities.
Michael Dinowitz, a member of the Firm, will be moderating a panel at the main conference day on June 6th.
Click here for details
May 17, 2017
Ellenoff Grossman & Schole LLP is proud to announce the addition of two new members to our Litigation Practice: David A. Gehn and Matthew B. Baum.
Click here to view their announcement
May 17, 2017
National Energy Services Reunited Corp. announced the closing of its initial public offering in the amount of $210,000,000. EG&S acted as counsel to National Energy.
May 12, 2017
EG&S is representing Fig Publishing, Inc. in Fig’s ongoing, multiple securities offerings under the SEC’s amended Regulation A. Fig is a video game publisher that issues separate series of preferred stock to members of the public, with each series designed to pay dividends based on revenues earned from a separate video game. So far, Fig has sold three series of Regulation A “Fig Game Shares”.
May 11, 2017
Client Alert: New York City Bans All Inquiries Regarding Salary Histories of Job Applicants
New York City has joined other states and cities across the country – including Massachusetts and Philadelphia – in banning employers from inquiring about a job candidate’s salary history. Per legislation signed on May 4, 2017 by New York City Mayor Bill DeBlasio, effective November 1, 2017, all employers in New York City, both public and private and regardless of size, may no longer:
(1) inquire about the salary history of an applicant for employment; or
(2) rely on the salary history of an applicant in determining that applicant’s salary at any stage in the employment process, unless the applicant “unprompted” and “willingly” discloses his or her prior salary information.
Click here to read the alert.
May 03, 2017
On April 26, 2017, the Appellate Division, Second Department issued a decision reversing the Surrogate of Rockland County who had previously granted petitioner’s motion for summary judgment against EGS client, Alfred Zucaro. In reversing, the Second Department also granted Mr. Zucaro summary judgment dismissing petitioner’s conversion cause of action against him.
James K. Landau, a member of the Firm, represented Mr. Zucaro in connection with the appeal. A copy of the decision can be found at http://law.justia.com/cases/new-york/appellate-division-second-department/2017/2015-02684.html.
May 01, 2017
The Deal issued its quarterly PIPE league tables, revealing that 2017's first quarter outperformed last year's first quarter. Deals were up nearly 75% from the previous year to 367, while dollars raised were up almost 70% to $21.3 billion.
EG&S is top ranked. Click here to read the article.
April 17, 2017
Cytori Therapeutics announced the closing of a confidentially marketed public offering of common stock in the amount of $8.8 million. EG&S acted as counsel to the underwriter, Maxim Group LLC.
April 12, 2017
Forum Merger Corporation, a company formed for the purpose of entering into a merger, share exchange, asset acquisition or other similar business combination with one or more businesses or entities, announced the closing of its initial public offering in the amount of $150,000,000. EG&S acted as counsel to Forum Merger.
April 12, 2017
Blink Health announced that it has raised a $90 million Series B equity funding led by 8VC, bringing its total venture capital funding to $165 million. Blink Health is a technology platform that enables consumers to access the medications at affordable prices through over 57,000 pharmacies nationwide. EGS acted as counsel to Blink Health.
April 04, 2017
ITUS Corporation announced the closing of its rights offering of common shares in the amount of $4,700,000. EG&S acted as counsel to ITUS.
March 31, 2017
Douglas S. Ellenoff, a member of the Firm, wrote an article for LexisNexis; Lexis Practice Advisor titled "Market Trends: Crowdfunding."
Click here to read the article
March 30, 2017
Kayne Anderson Acquisition Corp. announced the closing of its initial public offering in the amount of $350,000,000. EG&S acted as counsel to Kayne Anderson.
March 24, 2017
Delaware Court of Chancery granting summary judgment to EG&S client, Shu Kaneko, freeing him from liability on all the claims brought against him by the receiver for Southern China Livestock International, Inc. (SCLI). The Receiver brought claims against Mr. Kaneko seeking approximately $8M in damages, despite SCLI having given Mr. Kaneko a full release as part of a settlement agreement in February 2013, sixteen months before the Receiver first filed suit. EG&S acted as counel to Mr. Kaneko. J.B. Horgan, an Associate of the Firm, was on this case from the beginning, having written the summary judgment brief and argued it before the Chancery Court.
March 16, 2017
Amanda M. Fugazy, a member of the Firm, will be speaking at NGO's symposium "Fraud & Corruption: Mitigating a Top NGO Risk". Her topic is "Hiring & Vetting: How Well Are You Checking?. View her presentation here.
Click here for more info
March 15, 2017
Matlin & Partners Acquisition Co. announced the closing of their initial public offering in the amount of $325,000,000. EG&S acted as counsel to Matlin.
March 10, 2017
EG&S LLP 2016 Year End Summary
2016 was another year of significant events and milestones for Ellenoff Grossman & Schole LLP. We continued to grow our areas of practice, strengthening our existing lines of business and have the privilege of participating in ever increasing matters of complexity.
Click here to read more
March 09, 2017
Kayne Anderson Capital Advisors LP announced their plans for an initial public offering that would raise $350 million for a special purpose acquisition company, or “blank-check company,” with its sights on acquiring an energy business. EG&S is counsel to Kayne.
March 02, 2017
James K. Landau, a member of the Firm, was invited by PLI to participate on a panel discussing the use of social media by attorneys on March 17, 2017.
Click here for more details