Wed.Mar 10, 2021

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Congress Passes ARPA With Many COVID-19 Payroll-Related Provisions

ThomsonReuters

Background. The American Rescue Plan Act of 2021 (ARPA) extends and expands provisions found in the Families First Coronavirus Relief Act (FFCRA), Coronavirus Aid, Relief and Economic Security (CARES) Act, and the Consolidated Appropriations Act, 2021 (CAA, 2021). Paid Sick and Family Leave Credits. Changes under ARPA apply to amounts paid with respect to calendar quarters beginning after March 31, 2021.

Treasury 105
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Corporation Seeks to Validate Merger After Botched Notice

Appraisal Rights

Devon Energy Corporation seeks to have the Delaware Chancery Court validate a shareholder vote after a notice snafu resulted in approximately 15% of shareholders receiving untimely notices on a $15 billion merger. After the merger closed between Devon Energy and WPX Energy, Inc. in January 2021, Devon Energy’s sub-contractor Broadridge Investor Communication Solutions, Inc. learned that it did not begin mailing notices of the special meeting of stockholders until up to two weeks prior to the me