Virus Data Hacking Risks Prompt Security Updates at Universities

Here are the day’s top coronavirus stories from the team at Bloomberg Law:

• GONE PHISHING: With more researchers moving from the laboratory to their living room, now is the time for universities and other institutions tackling the coronavirus to take a hard look at their cybersecurity strategies. The warning from cybersecurity experts comes amid concerns over hackers stealing research on vaccines and treatment for the virus.
• UNDER THE ARCHES: McDonald’s Corp. was sued by a handful of workers in Chicago who claim the restaurant chain has failed to keep them and others safe while they continue to serve food during the Covid-19 pandemic. Store managers have told workers to reuse gloves, accused employees of trying to steal gloves, and claimed that there’s no need to physically distance if they restrict contact with others to under 10 minutes, according to the lawsuit.
• WEIGHING BANKRUPTCY: Filing for bankruptcy in U.S. court takes time and money that most insolvent small firms simply don’t have. As a result, few file. And perhaps most firms shouldn’t — especially those that are unlikely to turn profit, even after reorganizing.

Editor’s Top Picks

M&A Pioneer Martin Lipton Warns of Wave of Virus Lawsuits
A push by Republicans in Congress to create stronger liability protections for businesses hammered by the coronavirus won’t completely curb lawsuits over injuries and losses, famed M&A litigator Martin Lipton said.

Reopening U.S. Economy Will Mean Creating New Jobs
Companies racing to get back to business are creating roles to keep employees and customers safe from a highly contagious virus—positions that may become even more in demand the longer time passes without a vaccine or treatment.

Prisoner Facing Missouri Execution Cites Virus in Seeking Stay
Missouri is set to carry out the first U.S. execution since the pandemic hit, but the condemned man, Walter Barton, wants the Supreme Court to intervene.

Pier 1 to Permanently Shut Stores After Virus Upends Sale
Pier 1 Imports Inc. said it would seek bankruptcy court approval to wind down its brick-and-mortar operations after the pandemic made it difficult for the U.S. retailer to find a buyer.

Government’s Pandemic Business Loans Fuzzy on Accounting
With the clock ticking toward the close of the second quarter, accountants are scrambling for guidance on the Paycheck Protection Program and other relief offered by the CARES Act.

Warren Wants CEOs Held Criminally Liable for Bailout Violations
Senator Elizabeth Warren is calling on the Federal Reserve to hold corporate executives personally liable if they take bailout money intended to bolster credit markets and fail to meet all the certification requirements.

More States Move Upcoming Bar Exams Online in Response to Virus
Michigan is the latest in a growing number of states that have decided to hold their upcoming bar exams online, as they weigh safety concerns and logistical issues related to administering tests during the outbreak.

Unions Doubt Agencies Can Reopen Safely by Going Their Own Way
Unions are calling for government-wide mandates to ensure federal workplaces are safe before any large-scale return to work begins, and to avoid a patchwork of different agency preparations.

INSIGHT: Expect Form 10-Qs Securities Challenges Due to Covid-19
Sidley Austin LLP attorneys predict the SEC will focus on financial reporting and disclosures of public companies to look for accounting or disclosure misconduct related to the pandemic.

INSIGHT: Leading Law Firm Committees Through Downsizing
Leaders of law firm committees are facing difficult decisions and tough downsizing planning in the economic downturn. Legal consultant Hugh A. Simons offers guidance on how to conduct the tough discussions, implement plans, and keep account of results in a humane, intelligent, and steadfast way.

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Editor’s Note: The Bloomberg Law news team has been closely covering the legal, regulatory, business, and tax implications of the coronavirus pandemic. This daily email highlights the top stories of the day, across practice areas. To unsubscribe, please adjust your Bloomberg Law newsletter settings. For assistance, contact our help desk at 888-560-2529 or help@bloomberglaw.com.