Personal Liability

News & Analysis as of

A Cautionary Tale: Members of a Defunct LLC May Have Liability For Attorney Fees

In CB Richard Ellis Inc. v. Terra Nostra Consultants the California Court of Appeal for the Fourth Appellate District decided an interesting issue concerning the liability of an LLC member for a fee award imposed against the...more

Bright Petroleum, Inc. Shareholders/Officers to Pay $15,000 to Settle EEOC Retaliation Suit

Food Market Terminated Manager Who Filed Discrimination Charge, Federal Agency Charged - INDIANAPOLIS - Two shareholders/officers of the dissolved corporation Bright Petroleum Inc. d/b/a The Bright Market, will pay...more

Alstom Joins Santa’s Naughty List – In a Very Big Way

The North Pole for Foreign Corrupt Practices Act (FCPA) enforcement action announcements seems to have temporarily moved south for the month of December. Last week there was the final announcement of the long-standing Avon...more

SEC Distances Itself From Janus and Adopts Expansive View of Rule 10b-5(a) and (c)

The SEC recently rendered an opinion in an enforcement action against two persons, John P. Flannery and James D. Hopkins, associated with an investment adviser. In so doing, it sought to limit the Supreme Court’s holding in...more

A Judgment Cannot Not Lie Against Attorney Who is a Non Party

In Suarez v. City of Corona, 2014 DJDAR 12101, the California Court of Appeal for the Fourth Appellate District decided an interesting case concerning the interpretation of California Code of Civil Procedure Section 1038....more

Hiring Consultants

Technology companies receive services from a variety of individuals and often use consultants, either for marketing advice, for software development or for other discreet tasks. It’s important to be sure the consultants are...more

Are Your Company’s Directors and Officers Suitably Insured for Negligence and Civil Fines and Penalties?

Corporate directors and officers have a long list of things that can keep them up at night. Personal liability for civil fines and penalties arising out of negligence should not be one of them. Companies often must or will...more

Dispute Over Landscaping Repairs Results in Personal Penalties against Condo Directors and a Fascinating Governance War Story

Court decisions holding corporate directors personally liable for acting in bad faith tend to be few and far between in Canadian jurisprudence. The recent Ontario Court of Appeal decision in Boily et al v Carleton Condominium...more

Vascular Solutions Inc. and its CEO Face Criminal Charges for Selling Unapproved Medical Devices

Last week, the Civil Division of the U.S. Department of Justice (DOJ) filed an indictment charging Vascular Solutions Inc. (VSI) and its CEO Howard Root with (1) selling medical devices without the approval of the U.S. Food...more

SEC Charges Audit Committee Chair for Failing to Investigate Red Flags

The SEC recently brought an enforcement action against the Chairman of the Audit Committee of AgFeed Industries, Inc. The Director of the SEC’s Division of Enforcement, called the AgFeed action “a cautionary tale of what...more

Participation Not Required: SEC Charges Mayor as Control Person in Municipal Bond Offering

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

Hold Your Cards Close: Data Protection and the Gaming Industry

Increased cybercrimes and data security threats have recently made headline news with reports of massive data security breaches at major U.S. companies, including Target and more recently, The Home Depot. Risks of data...more

SEC Ramps Up Municipal Enforcement

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

MoFo New York Tax Insights - Volume 5, Issue 11 - November 2014

In This Issue: - Court Orders Department of Finance to Release Corporate Tax Return Records to City Comptroller - ALJ Upholds State Tax Department Policy on Personal Liability of LLC Members for Sales...more

Court Holds that Restaurant Owner May Be Personally Liable for FLSA Violations

A new federal case out of Illinois demonstrates the extreme importance of complying with wage and hour laws, especially where the law provides for individual liability against those who control the terms and conditions of...more

A Royal Fan Responds: Russ Berland on the SEC Financial Report for FY 2014

Ed. Note-today we have a guest post from KC Royals fan and Stinson Leonard Street partner Russ Berland. As a Kansas City Royals fan, I would like to use this opportunity to congratulate the Royals on a great season...more

Operation Delaware Shield: The Corporate Veil Is Alive and Well

In the recently concluded Cornell Glasgow, LLC v. Nichols, the Delaware Court of Chancery endorsed and upheld shielding individuals from personal liability through the "best practices" use of limited liability entities in...more

Eyes Wide Shut: Recent Second Circuit Concurrence Continues Debate on Conscious Avoidance Doctrine

The legal doctrine of “conscious avoidance,” which provides that a defendant who deliberately shields himself from clear evidence of critical facts is considered equally liable as one who has actual knowledge, continues to...more

Status Updates - October 2014 #9

Court spanks parents. In a landmark decision, the Georgia Court of Appeals ruled in Boston v. Athearn that parents can be held responsible for the social media activities of their kids. The case involved a seventh-grade boy...more

Advertising Law - October 2014 #2

Hashtags and Ads: Top 10 Legal Considerations for Brands Involved in Digital and Social Media Advertising - Advertising, marketing and promotions, both via digital and traditional channels, are governed in the United...more

Tommy Lewis, Dicky Maegle and the DOJ Call for Individual Prosecutions

Tommy Lewis died this week. For those of you uninitiated in college football, Lewis was an Alabama football player who jumped up off the Alabama bench to tackle Rice University halfback Dicky Maegle, who was scampering...more

When "Free" Is Too Good To Be True: Rethinking Interns And Volunteers Under Wage & Hour Laws

Educational institutions of all kinds often utilize the services of volunteers or so-called interns to assist with coaching sports or other extracurricular activities, and to participate in programs that are mutually...more

The Justice Department and Individual Criminal Prosecutions

Recently, Attorney General Holder and DAAG Marshall Miller from the Criminal Division delivered important speeches on the Justice Department’s initiative to increase individual criminal prosecutions....more

Trade & Manufacturing - October 2014

In This Issue: - Export-Import Bank Is Reauthorized Through June 2015 - Roadblocks to Bali Package Implementation Remain As Summer Deadline Passes Without A Clear Path Forward - Customs Litigation: Federal...more

Recent Remarks By Officials Reinforce DOJ’s Focus On Criminal Fraud Investigations And Prosecutions Of Culpable Individuals

In a trio of speeches given at separate events on September 17, 2014, Department of Justice (“DOJ”) officials announced new initiatives and points of emphasis in the Government’s ongoing efforts to hold corporations and...more

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