Business Organizations | JD Supra Legal News, Updates, Analysis, & Information

Consulting Payments To A Related Entity Did Not Avoid Unreasonable Compensation Issues

by Charles (Chuck) Rubin on 5/23/2012

An accounting firm operated as a C corporation. The firm paid substantial fees to three related entities created by the founding shareholders of the firm. The fees were so high as to reduce the net income of the firm to a de...more

Little Hoover Commission Votes To Approve Governor’s Reorganization Plan

by Allen Matkins Leck Gamble Mallory & Natsis... on 5/23/2012

Yesterday morning, the Little Hoover Commission voted to approve the Governor’s Reorganization Plan, subject to the members appointed by the Speaker of the Assembly (Mark Vargas) and the Senate Rules Committee (Jonathan...more

Should the board consult the owners before implementing changes ? (Part III)

by Heenan Blaikie LLP on 5/23/2012

In our previous posts on this topic, we looked at the level of consultation required when the board contemplates renovation to the condominium or changes to the services provided to the owners. Last post dealt specifically...more

Former Employee Blows the Whistle on Delaware Unclaimed Property Exposure

by Reed Smith on 5/23/2012

In a recent unpublished decision, the Superior Court of Delaware, New Castle County, decided to allow a business entity’s former tax manager, joining with the attorney general for the state of Delaware, to proceed with a...more

Mergers & Acquisitions Law Report - May 7, 2012: Summary of Required Financial Statements of Businesses Acquired or to Be Acquired

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

Reproduced with permission from Mergers & Acquisitions Law Report, 15 MALR 686, 05/07/2012. Copyright 2012 by The Bureau of National Affairs, Inc. Rule 3-05 of Regulation S-X requires audited financial statements to be...more

Partner May State FEHA Claim Against Partnership For Retaliation For Opposing Sexual Harassment Of An Employee Of The Partnership

by Kronick, Moskovitz, Tiedemann & Girard on 5/22/2012

A California Court of Appeal recently held that the California Fair Employment and Housing Act (“FEHA”) supports a partner’s claim for retaliation against her partnership for opposing sexual harassment of an employee of the...more

FSA Issues Decision Notice Against Former BGC Senior Executive

by Orrick, Herrington & Sutcliffe LLP on 5/22/2012

On 16 May 2012 the FSA published a decision notice which it has issued to Anthony Verrier, a former senior executive at BGC Brokers LP. The FSA decided to prohibit Mr. Verrier from performing any function relating to any...more

A Whole New Ball Game: SIFI Designations in the Dodd-Frank Paradigm

by K&L Gates LLP on 5/22/2012

The process for designating systemically important financial institutions (“SIFIs”) under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) is moving forward apace. On April 3, 2012, the Financial...more

Groups Sponsoring Electioneering Communications Must Disclose All Donors Pending Appeal of District Court Order

by Venable LLP on 5/22/2012

Advocacy groups and trade associations that fund political advertisements may be compelled to make heightened donor disclosures as a result of recent litigation. The expanded disclosure requirements apply to “electioneering...more

Quinn Emanuel D.C. Litigation in Brief -- Spring 2012

by Quinn Emanuel Urquhart & Sullivan, LLP on 5/22/2012

In This Issue: The Supreme Court Confronts Controversies Overseas, But Will Congress Have the Final Word? Cover; When in Rome...(U.S Law Still Applies): Lessons of Wal-Mart, News Corp. & the Foreign Corrupt Practices...more

Massachusetts Senate Considering Budget Amendment Limiting Compensation of Directors and Officers of Public Charities

by Foley Hoag LLP on 5/22/2012

An amendment to the state budget under consideration by the Massachusetts Senate would cap the compensation of officers and senior managers and would prohibit the compensation of members of the board of directors of public...more

Sanctions Enforcement — An Increasing Risk

by Michael Volkov on 5/22/2012

Everyone writes about the FCPA and the UK Bribery Act. Some are more willing to tackle export compliance. Given the Obama Administration’s reliance on sanctions as a foreign policy tool, companies need to address the...more

How Blogging Changed the Practice of Corporate Law—Francis Pileggi [Video]

by LXBN on 5/22/2012

So often at LexBlog we talk about how blogging can enhance a lawyer’s practice, or even completely change the way that individual attorney operates. But we don’t talk about, but still sense, is that blogging has an impact on...more

Is “Corporation” Spelt “LLC”?

by Allen Matkins Leck Gamble Mallory & Natsis... on 5/22/2012

When I first started practicing law, the idea of the limited liability company had yet to be birthed. A decade later, I co-authored an article speculating on whether California would enact a limited liability company law:...more

The Troubles With The New Crowdfunding Law?

by Davis Wright Tremaine LLP on 5/22/2012

Everyone is very excited about the new crowdfunding-for-securities law. Crowdfunding is a great idea–in concept. And now we have a new law which is about to make crowdfunding for securities a reality, at least in some sense....more

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Business Organization Updates – May 23, 2012