Considerations for Public Companies Weathering the Current Market Downturn

Considerations for Public Companies Weathering the Current Market Downturn


By: Valerie Ford Jacob, Andrew B. Barkan, Daniel J. Bursky, Stuart H. Gelfond, Michael A. Levitt, Lisa A. Levy, David I. Shapiro, Paul D. Tropp, Vasiliki B. Tsaganos, Timothy E. Peterson, Richard A. Steinwurtzel, Joshua Wechsler, Tiffany T. McConnell

Over the past several months, the US and world financial markets have witnessed the collapse of longstanding financial institutions, the government conservatorship of Fannie Mae and Freddie Mac, record volatility in US stock markets and a virtual shutdown of access to credit markets. On October 3, 2008, the President signed the Emergency Economic Stabilization Act of 2008 (the "Act"), a comprehensive legislative package aimed at stabilizing the economy and financial systems. However, as various provisions of the Act are only beginning to take shape, public companies will be faced with numerous challenges resulting from these historically turbulent times. This memorandum offers several practical considerations for public companies weathering this storm.

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