Philip B. Schwartz

SEC Adopts Final Rule Modifying Net Worth Definition for "Accredited Investors"
Esther L. Moreno,Philip B. Schwartz, December 29, 2011
On December 21, 2011, the U.S. Securities and Exchange Commission ("SEC") adopted a final rule modifying the net worth standard for "accredited investors." Section 413(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act") requires...

Federal Court of Appeals Overturns SEC's Proxy Access Rule
Jonathan L. Awner,Andrew Schwartz,Philip B. Schwartz, August 1, 2011
On July 22, 2011, a three-judge panel of the United States Court of Appeals for the District of Columbia Circuit overturned Exchange Act Rule 14a-11. The rule, adopted by the Securities and Exchange Commission (the "Commission") in August 2010, required public companies to allow, in...

Florida Legislature Adopts the Olmstead "Patch" Clarifying the Rights of Judgment Creditors of Members of Florida Limited Liability Companies
Andrew Schwartz,Philip B. Schwartz, June 15, 2011
The Florida Legislature recently passed legislation designed to resolve the uncertainties created with respect to Florida limited liability companies ("LLCs") by the Florida Supreme Court's holding in Olmstead v. Federal Trade Commission, 44 So. 3d 76 (Florida 2010). The legislation,...