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|UK Takeover Code: Clarification of Rules Relating to Irrevocable Commitments and Letters of Intent by Target Company Directors|
Richard May; Fried, Frank, Harris, Shriver & Jacobson (London) LLP;
January 23, 2014, previously published on January 21, 2014On 17 January 2014, the UK Takeover Panel published Practice Statement No. 27 relating to how the prohibition on “offer-related arrangements” applies to irrevocable commitments and letters of intent given by target company shareholders who are also directors of the target company.
|Nonprofit Law Revitalization Comes to New York|
Sarah Hewitt; Schnader Harrison Segal & Lewis LLP;
January 3, 2014, previously published on December 2013On December 18, 2013, New York Governor Andrew Cuomo signed into law the Nonprofit Revitalization Act of 2013 which modernizes the New York nonprofit corporation law. The Act overwhelmingly passed both houses of the New York State Legislature on June 21, 2013, almost six months prior to the...
|Overtime Claims and the Fair Labor Standards Act|
R. Scott Alagood, Brian T. Cartwright; Alagood & Cartwright, P.C.;
January 3, 2014, previously published by Denton Business ChronicleThe Fair Labor Standards Act (or FLSA) is a federal labor law that requires employers to pay overtime compensation (at time-and-a-half) to employees who are not exempt under the Act for all hours worked over a prescribed threshold period (typically, 40 hours per week).
|Avoiding Legal Malpractice: What You Don’t Say Can Be Used Against You.|
Jason M. Bruno; Sherrets Bruno & Vogt LLC;
January 3, 2014, previously published by Attorney At Law: Nebraska Edition on Spring 2013As lawyers, we recognize and protect against obvious acts of malpractice such as failing to file a complaint within the applicable statute of limitations period and missing a disclosure deadline for evidence or experts. However, most of the phone calls that I receive regarding claims of legal...
|Cuomo Signs Non-Profit Revitalization Act of 2013: New York Law Reforms Governance Rules for Nonprofits|
Patterson Belknap Webb Tyler LLP;
December 23, 2013, previously published on December 2013Governor Andrew Cuomo signed the Non-Profit Revitalization Act of 2013 into law on December 18. The legislation had been pending in Albany since it was passed by the Legislature in late June.
|Considerations for 2014 Proxy Season and Beyond|
Jason R. Schendel, John D. Tishler; Sheppard, Mullin, Richter & Hampton LLP;
December 19, 2013, previously published on December 17, 2013Following are some topics that public companies may want to consider in preparation for the 2014 proxy season.
|No. 5 - Trends in Wage and Hour Litigation|
Frank Harty; Nyemaster Goode, P.C.;
December 19, 2013, previously published on December 17, 2013As 2014 approaches, we can predict the coming trends in wage and hour litigation. This list of “hot spots” can serve as a shorthand audit checklist to identify potential areas of risk:
|Is It Time for Your Church to Start an Endowment Fund?|
Louise A. Jackson; Eastman & Smith Ltd.;
December 18, 2013, previously published on December 2013Has your church received an unanticipated large bequest or gift? Have some of your older church members inquired about leaving bequests to the church but want them used to ensure the church’s future rather than being added to the current budget? Have there been instances where you as the...
|Not-for-Profit Law in Canada: What to Expect in 2014|
Kate N. Bake-Paterson, Graham Erion, Ted Maduri; Davis LLP;
December 18, 2013, previously published on December 16, 2013Given the increasingly important role that the not-for-profit and charitable sector plays in Canada’s social and economic fabric, it is not surprising that lawmakers have paid particular attention to this sector in recent years with more changes to the legislative and regulatory framework...
|Do You Know Who Your Directors and Managers Are? The Often Overlooked Risk to Charities|
Michelle S. Thériault; McLennan Ross LLP;
December 17, 2013, previously published on Winter 2013As with any federal budget, the 2011 budget contained provisions that captured the attention of media and public alike. The changes to the governance of charities through amendments to the Income Tax Act (the “ITA”) were not among such provisions. Consequently, some very significant...