Viewpoints: Portfolio Company Pension Liabilities
How Might Your Company be Affected by West Virginia's Employment Law Changes?
In a recent post-trial decision, Delaware Chancellor Kathaleen St. J. McCormick found a CEO personally liable for breaching his fiduciary duties for tilting the company’s sale to his preferred acquiror. The court further held...more
The blockchain community has debated for years whether Decentralized Autonomous Organizations (DAOs) can or should be analogized to a corporate form and whether they operate to insulate DAO members from legal liabilities....more
A first-of-its-kind putative class action lawsuit filed in the Southern District of California is testing the legal argument that a decentralized autonomous organization (DAO) is a general partnership exposing its members to...more
The Seventh Circuit recently issued an important decision imposing personal liability on individuals for certain debts of their company pursuant to ERISA’s controlled group rules. In Local 705 Int’l Broth. of Teamsters...more
Effective February 10, 2020, the top ten members of an out-of-state limited liability company (“LLC”) can be held personally liable for violations of New York’s wage and hour laws. The bill, signed on December 12 by Governor...more
Underwriting a commercial credit facility is a process of weighing various risk mitigators until the lender is satisfied that the potential for loss is within its tolerance. By evaluating collateral value, credit history,...more
The Supreme Court of Georgia issued its latest opinion on March 13, 2019 in the continuing litigation over whether former directors and officers of the now defunct Buckhead Community Bank can be held liable for financial...more
The Supreme Court’s recent decision quashing the Employment Tribunal fee regime is not the only recent employment law news of which UK employers need to be aware. This OnPoint summarises some other recent developments....more
A couple of weeks ago, we considered a situation in which an unscrupulous partner (perhaps in cahoots with an IRS agent) tried to stick one of their partners with the federal employment taxes owed by their failing business....more
Section 316(a) of the California Corporations Code imposes joint and several liability on directors who approve any of the following actions...more
Goodwin Procter’s Business Litigation Reporter provides timely summaries of key cases and other developments within dedicated Business Litigation sessions and related courts throughout the country – courts within which...more
New in False Advertising Lawsuits: Security Systems and Oatmeal - Class action complaints alleging false advertising run the gamut of products and services, and recent lawsuits filed across the country bear this...more
Senate Bill 588, referred to as the wage theft bill, significantly expands individual liability for wage and hour violations by authorizing the Labor Commissioner to hold a hearing to recover civil penalties for wage and hour...more
In a striking decision earlier this year, the 3rd Circuit Court of Appeals affirmed a jury’s findings of liability for breach of fiduciary duties and ‘deepening insolvency,’ and the award of $2.25 million in compensatory...more
In an unprecedented exercise of its authority to charge municipal officials with “control person” liability, the Securities and Exchange Commission (SEC) recently announced fraud charges against the City of Allen Park,...more
The SEC continues to ramp up its Enforcement efforts in the municipal-securities realm. The agency announced a series of settled actions on November 6....more
A district court in the Northern District of California has held that the officer of a now-defunct corporation is personally responsible for the Trust Fund Recovery Penalty based upon the company’s failure to collect, account...more