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New York Law Journal

Second Circuit Sets Standard for Distinguishing Opinions From Facts in Securities Fraud Cases

A discussion of the case 'Union Asset Management Holding AG v. Philip Morris International Inc. (In re Philip Morris International Inc. Securities Litigation) where the Second Circuit elucidates on distinguishing fact from opinion.
8 minute read

New York Law Journal

Unregistered Foreign Business Entities 'Doing Business' in New York and Their Right To Sue

In New York state, business entities formed or incorporated outside New York that meet the criteria of "doing business" in New York are classified as foreign business entities and are required to register to do business in New York. Both the New York BCL and the New York LLC Law provide that, without registering in New York, a foreign business entity does not have the legal capacity to bring suit in any New York state courts, although it can be sued in New York.
10 minute read

New York Law Journal

Settlement Agreement Enforceable in Absence of Written Agreement

While working toward a settlement, it is common for parties to email proposed terms and settlement amounts without necessarily expecting that their communications will be enforceable. 'Elysium Health v. ChromaDex' illustrates that settlement terms can be enforceable without a formal, executed agreement if the parties express mutual assent and intention to be bound.
7 minute read

New York Law Journal

SDNY Breaks With Tradition in New Whistleblower Pilot Program

A discussion of the SDNY's Whistleblower Pilot Program which is designed to encourage early, voluntary disclosure of criminal conduct by individual participants in non-violent offenses involving fraud and public corruption.
7 minute read

New York Law Journal

'Yellowstone' Injunctions: Navigating the Wild West of Commercial Lease Disputes

Yellowstone injunctions are implicated in many leases for commercial real estate property in New York State, however most landlords and tenants do not know what it is or how it affects them. This article offers an overview of their implications so that commercial landlords and tenants can better navigate lease disputes.
6 minute read

New York Law Journal

'Appellate Advocates': Application of Attorney-Client Privilege to Government Communications and More

A unanimous decision from the Court of Appeals forcefully emphasized that in legal matters, either in response to a FOIL request or in civil litigation, a governmental entity and its counsel are entitled to engage in confidential communications with counsel to discuss, establish and maintain its legal position, protected by the privilege. Due to the significance of the case, this article discusses the court's decision and the takeaways from it.
11 minute read

New York Law Journal

Intercompany Loans Recharacterized: 'Fry v. Commissioner'

In 'Estate of Fry v. Commissioner', payments by one S corporation to another under identical ownership were recorded as intercompany loans. Following issuance of a notice of deficiency premised on the shareholder's stock basis in the debtor corporation being insufficient to support the losses claimed by him, the petitioners were ultimately successful in persuading the Tax Court that the transfers should be recharacterized as distributions by one corporation to its shareholder, coupled with contributions by that shareholder to the other corporation.
9 minute read

New York Law Journal

Large Premium Increases Cause Predicament For Long-Term Care Insurance Policyholders

Decades ago, seniors purchased private long-term care insurance rather than rely upon their own savings or Medicaid. Many of them are now receiving letters raising their premiums to levels that they can no longer afford. They are offered a bewildering series of options including maintaining their coverage or reducing their benefits. The analysis is so complicated that many seniors are seeking advice from elder law attorneys.
6 minute read

New York Law Journal

Violation of Cannabis Law; Succession Rights of Non-Traditional Family Members: This Week in Scott Mollen's Realty Law Digest

Scott Mollen discusses "The City of New York v. The Land and Building Known as 634 Nostrand Avenue a/k/a 1192 Dean Street," and "Stuyvesant Owners Inc. v. Frantino."
11 minute read

New York Law Journal

No License? No Problem (Maybe)

In honor of Valentine's Day, Marilyn Sugarman discusses a few recent decisions that upheld the validity of a marriage even when there was no license.
11 minute read

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