The Fortis Law Partners Q4 2020 newsletter provides insights on the latest news and how it impacts you, from counsel on how to manage mergers and acquisitions during COVID-19 to major changes in employment law taking effect in 2021. Read on to learn more about recent important legal developments and other firm news below.
ACCOLADES
Fortis Law Firm and Five Attorneys Named to U.S. News – Best Lawyers 2021 List
For the second year in a row, the annual U.S. News – Best Lawyers® has recognized Fortis Law Partners with a Metropolitan Tier 3 ranking in Colorado for Criminal Defense: White-Collar. Fortis co-founders Julie Herzog and Christine Lamb were also honored, identified as Best Lawyers® in the areas of corporate/securities practice and employment law management and workers compensation law, respectively.
U.S. News – Best Lawyers: Ones to Watch® additionally named Fortis Law Senior Associate Paige Justus, of Counsel Alyson Jaen and Associate Lenora Plimpton as “Ones to Watch,” an honor that spotlights up and coming attorneys practicing at an exceptionally high level of professionalism and competence.
Recognition by Best Lawyers is based exclusively on peer review, capturing the consensus opinion of leading lawyers about the professional abilities of their colleagues within the same geographical area and legal practice area. Read more on the Fortis blog.
Julie Herzog Selected to Present for the Colorado Bar Association CLE
Managing Partner Julie Herzog was selected to participate in the Colorado Bar Association CLE M&A Series panel “How Do the Deal Points Studies Apply to Small Deals?” Colorado Bar Association CLE is the nonprofit educational arm of the Colorado Bar Association and the Denver Bar Association. During the panel presentation, which took place in early October, Julie educated viewers on liability caps, sellers’ catch-all representations, small deal closing conditions and more.
CLIENT ALERTS
Colorado Employer Update: Big Changes Ahead in 2021
On January 1, 2021, Colorado’s Equal Pay for Equal Work Act and the Healthy Families and Workplaces Act will take effect. Since failure to comply can be very costly, it is critically important that employers begin to prepare now. Associate Attorney Lenora Plimpton lays out what these new Acts will entail and the next steps for Colorado employers on the Fortis blog.
How Creditors Can Recover Debt During the COVID-19 Pandemic: Advice for Businesses
Collecting business debts right now can be challenging. The recent economic slowdown means that many debtors lack the cash to pay their debts on time or may not be able to pay at all. There are multiple approaches to recovering debt during this time. Read Associate Attorney Andrew Neiman’s counsel on the topic on the Fortis blog.
Families First Coronavirus Response Act – What Employers Need to Know
In early August, a federal court in New York ruled that the Department of Labor (DOL) had exceeded its authority in creating a rule limiting eligibility for paid coronavirus leave under the Families First Coronavirus Response Act (FFCRA). The FFCRA requires employers with fewer than 500 employees to provide workers with short-term paid sick time for specified reasons related to COVID-19. The DOL’s rule was meant to offer guidance on how to interpret the FFCRA. Read more by Liz Hartsel on how to navigate the FFCRA on the Fortis blog linked here.
State-Mandated Mask Requirements and ADA Compliance
In the wake of Colorado Governor Jared Polis’ announcement of a statewide mask requirement for indoor spaces, businesses can have confidence in the legality of their decision to require customers and employees to cover their faces as a preventative measure to stop the spread of COVID-19. However, Colorado businesses that are places of public accommodation (such as retail stores) should still be conscious of the need to abide by Title III of the Americans with Disabilities Act (“ADA”). Read this client alert to learn more and contact Associate Mack Wilding if you would like additional guidance about how these regulations may affect your business.
Idaho Begins Issuing “Return to Work” Bonuses
Idaho’s governor ordered that $100 million of the $1.25 billion given to Idaho by Congress via the CARES act’s Coronavirus Relief Fund will be used as a “bonus” for Idaho workers who applied for unemployment during COVID-19 and who have now gone back to work instead of receiving unemployment benefits. The Governor explained that the purpose of the bonus was to encourage Idahoans to “return to work as soon as possible” despite the fact that “as many as two-thirds of those receiving enhanced unemployment benefits are making more than they did prior to the COVID-19 pandemic.” Read more from Associate Attorney Lenora Plimpton on the ins and outs of this “bonus” program on the Fortis blog at this link.
FORTIS CLIENT SPOTLIGHT: L’Eagle Services
Established in 2010, L’Eagle Services is an all-natural and sustainable cannabis cultivator and retail dispensary specializing in clean cannabis. In its cultivation, L’Eagle leads the industry by championing organic agricultural methods, responsible pesticide use, sustainable business practices and strict industry compliance.
Its Denver dispensary takes pride in offering the cleanest product, free of synthetic pesticides while also investing the time to educate consumers on the intricacies of the cannabis plant and its derivatives. L’Eagle is the first cannabis dispensary to earn recognition as a Certifiably Green Denver (CGD) retail establishment from the City and County of Denver Department of Environmental Health, a designation that recognizes retail establishments that demonstrate exemplary environmental achievement. L’Eagle is the only adult-use indoor grow in the state of Colorado to be Clean Green Certified. For more information, visit www.leagledenver.com. Follow L’Eagle on Facebook, Instagram, Twitter and LinkedIn.
Full Velocity Consulting Offers Counsel to Early Stage Ventures
FVC was co-founded by Fortis Law Partners owners and brings together the leading minds in C-Suite services, business structure, compliance, finance and more to provide guidance on some of the most complicated and dynamic aspects of running a successful company.
Companies built on solid business foundations aren’t guaranteed success, but they do have a much better chance of it. Fortis sister company Full Velocity Consulting shares guidance on three key pillars that will help make any company’s foundation that much stronger.
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3 Pillars of Success, Part 2: How to Properly Incentivize the Best People
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3 Pillars of Success, Part 3: Obtaining Financing Without Giving the Company Away
Find Us on Medium
Check out the Fortis Law Partners Medium Account for more insights from the firm, most recently:
Mergers & Acquisitions in COVID-19: How Companies Can Foresee Uncertainty in Deal-making During the Pandemic by Andrew Neiman
The Top 5 SaaS Data Security and Privacy Compliance Risks by Christine Amrhein
Nailing Down a SaaS Service Contract by Chrisitine Amrhein
CORPORATE DEALS
In Q3 of 2020, Fortis Law Partners saw a major pick up in M&A activity on behalf of buyers and sellers and facilitated a number of corporate deals, including:
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Represented founders of kitchen installment firm Traemand in sale of remaining 51% of Traemand to Ingka Group, which owns most IKEA stores around the world, as part of Ingka Group’s strategy to offer customers more services.
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Assisted a client in the agriculture industry software business with the purchase of a competitor.
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Advised a CBD distribution business in its acquisition of a competitor.
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Assisted a client in preparing the documentation for and initial closing of a Series Seed financing round expected to raise up to $1,500,000.
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Helped resolve founder/executive company disputes and managed favorable settlement of all claims.
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Aided clients with structuring and documenting incentive plans for executives and key employees including equity incentive and phantom equity plans.
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Helped technology company founders resolve a dispute after change in control and termination.
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Assisted founder of cannabis consumer product company in negotiating terms of additional investment.
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Supported executives in negotiating and structuring investments into new and existing companies including employment terms, owner rights and obligations and economic structures.
Learn more about the many industries that Fortis Law Partners lawyers can provide expertise on here.
FORTIS IN THE NEWS
Green Entrepreneur (September 24): Henry Baskerville discusses The DEA’s New Interim Hemp Rule Has Left Many Companies Confused
Law360 (September 18): Alyson Jaen quoted in Cannabis Regs: NJ Clears New Dispensary Amid License Suit
Silicon Valley Bank (September 11): Andrew Comer provides his insights in Shutting Down a Startup: How to Protect Yourself and Your Investors from Liability
Cannabis Business Executive (August 20): Henry Baskerville dives into the Risks and Rewards of International CBD Markets
Green Entrepreneur (August 10): Henry Baskerville on What You Need To Know About Changes To California’s Prop 65
Thrive Global (August 3): How Julie Herzog is Shaking Up the Legal Industry
Recruiter (July 23): Leni Plimpton on Transgender Rights in the Workplace
HR Daily Advisor (July 13): Leni Plimpton discusses Family Leave Policy Considerations During, After COVID-19
MJBulls Raising Cannabis Capital (July 5): 0222: Full Velocity Consulting | Trent Sutton
Colorado Business Mag (July 1): Fortis Law Partners named to Colorado’s Top 100 Woman Owned Companies
Fortis COVID-19 Resource Blog
We understand that the current situation has no parallel and businesses are facing some of the most difficult times since the Great Depression. We have continued to update a separate page on our website devoted to providing clients with important information regarding COVID-19 and the legal and business implications that follow. Please bookmark this page and check back regularly for up-to-date information that may affect your business.
SOCIAL MEDIA
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