As the COVID-19 pandemic continues to wreak havoc on daily life, consumers and personnel that are feeling the ripple effects are beginning to file litigation against public and private companies in increasing numbers. Concurrently, the SEC is filing civil lawsuits … Continue reading
COVID-19 Affects Transaction Agreement for L Brands, Inc.
On April 22, 2020, L Brands, Inc. [NYSE: LB] announced that Sycamore Partners, a private equity firm, delivered a notice that same day purporting to terminate the transaction agreement relating to the sale of a 55% interest in Victoria’s Secret … Continue reading
Critical Audit Matters in Audit Committee Disclosures
As the implementation of the new disclosure requirement for critical audit matters (CAMs) continues, Audit Analytics is examining S&P 1500 companies that have disclosed the audit committee’s role in CAMs. CAMs are matters which arise during the audit that are … Continue reading
Coronavirus Uncertainties Contribute to Going Concern Uncertainties
As of April 20, 2020, there have been 16 audit opinions on annual reports for SEC filers that have cited the COVID-19 pandemic as a contributing factor to substantial doubt about a company’s ability to continue as a going concern … Continue reading
SEC Provides Relief to Business Development Companies Amid COVID-19 Pandemic
The COVID-19 pandemic continues to affect nearly everyone worldwide, causing widespread economic disruption. While certain provisions and leniency have been granted in regards to financial reporting, some markets have experienced unanticipated effects – including the capital market, and more specifically, … Continue reading
Constructive Corporate Actions to COVID-19
Talk of coronavirus is becoming increasingly ubiquitous; it seems that no matter where you look, people are discussing the illness and the extensive impacts it’s having. Unfortunately, most of those impacts have been negative, or at the very least, not … Continue reading
Q1 2020 IPOs: Auditor Market Share and Stats
Overview There were 37 initial public offerings in U.S. markets between January 1, 2020, and March 31, 2020. These 37 IPOs raised over $9.8 billion, an increase of over $2 billion from the same period last year and an increase … Continue reading