News & Events

Why You Should Have Paid More Attention to Your Elementary School Grammar Lessons: No Discharge for “Fraud in the Passive Voice” Thinking way back to your elementary school years, maybe even your high school days, you probably recall wondering what use you would ever get out of learning the difference between “active and passive voice” in a sentence!  An understanding of this grammatical nuance may be helpful in understanding how to interpret 11 U.S.C. 523(a)(2)(A), which section identifies cer ...

On March 9, 2023, Updike, Kelly & Spellacy shareholder Michael Botelho will be chairing the panel “Securities Law Considerations Concerning Limited Public Offerings and Private Placements” at the National Association of Bond Lawyers’ Institute. The panel will examine particular considerations regarding standards of disclosure, investors letters and other topics that distinguish these offerings from public offerings.  The role of placement agent counsel and underwriter’s counsel in these tra ...

On January 31, 2023, the Connecticut Appellate Court issued a decision affirming the Connecticut Superior Court’s decision granting summary judgment on behalf of the defendants. See Joseph M. Booth v. Park Terrace II Mutual Housing Limited Partnership et al., 217 Conn. App. 398 (2023) (AC 45094). The Appellate Court also affirmed the Superior Court’s decision to deny the plaintiff’s request to amend his complaint and motion to preclude expert testimony. Attorney Bausch argued the case before the ...

Background On December 23, 2022, Congress passed the Financial Data Transparency Act (the “Act”) as part of the Fiscal Year 2023 National Defense Authorization Act. The Act requires the Securities and Exchange Commission (the “SEC”) to create organizational standards for information reported by issuers and obligors on the Electronic Municipal Market Access website (“EMMA”). What Does This Mean for Municipal Issuers? Once the Act is implemented and the rules are finalized, the Act will alter ...

Firm Shareholder Richard Dighello was recently elected to serve as a member of the Board of Directors for the Community Foundation of Greater New Britain and the Friendship Service Center. The Community Foundation of Greater New Britain is a 501(c)(3) public charity and one of the oldest community foundations in the nation. It is one of the first community foundations in the country to comply with the National Standards for U.S. Community Foundations, and the only community foundation in Connec ...