On March 27, 2020, Congress enacted the Coronavirus Aid, Relief and Economic Security Act (the CARES Act or Act). The CARES Act provides economic relief to individuals and businesses facing hardship due to the COVID-19 crisis, including extensive financial assistance for businesses under Title IV of the Act. These benefits, however, are tied to public disclosure requirements, which may expose businesses to an increased risk of regulatory scrutiny and enforcement activity, as well as to suits from the plaintiffs’ bar. Businesses should weigh the risks of possible disclosure of their participation and/or sensitive business information against the benefits of receiving relief. This Sidley Update provides an overview of those public disclosure requirements, focusing on the two aspects of available relief under Title IV.1
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