Law Practice,
Law Office Management,
Administrative/Regulatory
Apr. 13, 2021
Should law firms worry about liability for PPP loans?
Law firms are viewed by the Department of Justice and other enforcement agencies as gatekeepers subject to a higher standard of care. Simply put, they are easy targets.
Byron J. McLain
Partner
Foley & Lardner LLP
Phone: (213) 972-4780
Email: bmclain@foley.com
Harvard Univ Law School; Cambridge MA
Byron is a white collar defense and heath care litigation partner and recently served as the Health Care Fraud Coordinator in the Major Frauds Section at the U.S. attorney's office in Los Angeles and as an assistant United States attorney from July 2012 to November 2018.
Over 14,000 law firms, like other small businesses, applied for and received pandemic-related financial assistance pursuant to the SBA's Paycheck Protection Program. A portion of these law firms, however, could face a significant, unfair risk of potential civil liability claims in connection with their receipt of PPP loans. Why? Because law firms are viewed by the Department of Justice and...
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