We continue our efforts to do everything we can to support our clients as they navigate these times. Our lawyers have provided practical insight into the legal and strategic challenges companies are facing. To stay abreast of the quickly changing landscape, Jenner & Block has assembled a multi-disciplinary team, drawn from a variety of our practice areas and sector gro 
ups, to support clients as they navigate these uncharted waters. We also continue to update our COVID-19 / Coronavirus Resource Center. It provides helpful and timely information on the legal and strategic challenges companies are facing. Following is a list of some of those pieces.
First COVID-19 Securities Class Action Lawsuits Hit Cruise Line and Pharmaceutical Company
The rapid developments in the spread and economic impact of COVID-19 present particular challenges for officers and directors of public companies trying to manage their businesses while providing timely and truthful information to shareholders. Over the last few days, shareholders have filed the first suits alleging that public companies materially misrepresented the impact of COVID-19 on their operations. If history is any guide, derivative litigation alleging director and officer mismanagement is likely to follow. Directors and officers of public companies should exercise great care in any public statements regarding the impact of COVID-19 on their businesses, and carefully consider and document the steps they are taking to oversee and respond to COVID-19 developments.
To read more, please click here.
COVID-19: "Employer Guidance for Addressing Possible Layoffs and Closures"
As employers grapple with staffing while dealing with the current COVID-19 crisis, they need to be mindful of their obligations under federal and state legislation addressing certain closures and layoffs.
Under the federal Work Adjustment and Retraining Notification (WARN) Act, 29 U.S.C. §2101, covered employers must provide at 60 calendar days written notice of a covered “plant closing” or “mass layoff.” WARN contains various definitions that establish:
- Which employers must give notice;
- When such notice must be given;
- Who must receive notice;
- What must the notice contain; and
- When notice may be excused.
To read more, please click here.
COVID-19: Issues Facing the Airline Industry
As the novel coronavirus / COVID-19 continues to cause economic and social turmoil across the globe, the airline industry is suffering particularly acute hardships. US carriers, including Delta, American, United and Southwest, have announced plans to cut their international routes by as much as 80% to 90% over the next several months, and domestic capacity is now being reduced by 20%-40%. Foreign carriers have been impacted even more harshly. Ryanair has announced it may have to ground its entire fleet, Air France has announced cuts into its flight schedule of up to 90% and British Airways has made similar cuts of up to 75%. Furthermore, the aircraft that continue to fly are far from full. Along with these flight reductions, airlines have grounded fleets of their larger aircraft, instituted hiring freezes and in some cases commenced layoffs, and US airlines are actively seeking ways to preserve cash on hand and obtain relief from the federal government.
To read more, please click here.
To stay abreast of developments through this unprecedented situation, continue to monitor the Consumer Law Round-Up blog and visit the resource library for helpful reference materials.
