News & Resources

News

[11/07] Man attempts to pay $32 bar tab with gum wrappers
[11/06] Retiree seeks return on 10,000 Obama front pages
[10/24] No rest for dead at foreclosed Mich. funeral home
[10/24] Goof leads Wis. store to sells diesel for 59 cents
[11/21] Americans still giving, despite economic meltdown
[11/20] 3 airports opening new runways amid economic woes
[11/11] Wartime economy boosts real estate near bases
[11/06] Court: Payday lending law violated constitution
[11/05] Iowa meatpacker files for bankruptcy protection
[10/31] Passenger trains gain favor with public, Congress

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Articles

Mergers, Acquisitions and Divestitures

As many companies evolve, they see potential for growth or improved operations by combining their efforts with other businesses. In some instances, seizing these opportunities invokes a legal requirement to spin off some productive assets. Mergers, acquisitions, and divestitures all involve a structural change to an underlying business form of at least one company through the purchase or sale of an entire company or its parts. These procedures may occur with the acquiescence of both parties, or may involve the absorption of an unwilling business. In either case, federal law governs transactions that affect public shareholders' interests.

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Copyright Pointers

Copyright exists to protect creators of any tangible medium of expression and encourage creativity. It a property right in the original work of literature, music, art, photographs, film, and others, giving the copyright owner the exclusive right to produce adapt, distribute, perform, and display the work. The following provides some general pointers regarding copyrighted material.

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Case Summaries

[11/18] Surrey v. TrueBeginnings
In a case of first impression in California involving an online matchmaking service, someone who presents him or herself to a business with the intent of purchasing its services or products, but becomes aware of that business's practice of charging different amounts for such services or products based on gender and thereafter does not purchase those services or products, is not aggrieved by that practice so as to have standing to sue for violations of the Unruh Act and the Gender Tax Repeal Act. The court adopts a bright-line rule that a person must tender the purchase price for a business's services or products in order to have standing to sue it for alleged discriminatory practices relating thereto.

[11/14] Cadles of Grassy Meadows II, LLC v. Goldner
Petition for panel rehearing granted, prior opinion withdrawn, and matter remanded for further proceedings in light of Kerlin v. Sauceda, 05-0653 (Tex. October 10, 2008).

[07/29] Fed. Trade Comm'n v. Whole Foods Market, Inc.
Denial of the FTC's request for a preliminary injunction against the merger of the Whole Foods and Wild Oats supermarket chains is reversed and remanded where: 1) the case was not moot despite the merger's having already occurred; 2) the district court did not abuse its discretion by considering the market definition proposed by the FTC, in which Whole Foods and Wild Oats compete in the "premium, natural, and organic supermarkets" (PNOS) market, not against all supermarkets; 3) the FTC met the threshold requirements for obtaining a preliminary injunction by demonstrating a likelihood of success on its claim that the two supermarkets did compete in the PNOS market; and 4) the district court was best positioned to balance the FTC's showing against the equities weighing against an injunction. (Amended and reissued opinion)

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[11/20] Vasquez v. State of California
In a taxpayer cause of action brought against the state for violating Proposition 139, known as the Prison Inmate Labor Initiative of 1990, by failing to collect and disburse payments due from joint venture programs with private employers within state prisons, award of attorneys' fees to plaintiff-company representive under the "private attorney general statute", Code of Civil Procedure section 1021.5, is affirmed where: 1) no rule applicable to this case required plaintiff first to attempt to settle the matter short of litigation; 2) the present case is not a catalyst case because plaintiff successfully obtained a stipulated injunction that was entered as a judgment and thus brought about a judicially recognized change in the parties' legal relationship; and 3) the "limitations on the catalyst theory" adopted in Graham v. DaimlerChrysler Corp. did not properly apply here.

[11/20] US v. Ellis
Convictions and sentence for failure to account for and pay federal taxes owed by defendant's business are affirmed over objections regarding: 1) the admission of evidence of defendant's personal expenditures; 2) the admission of evidence regarding other, uncharged tax violations; 3) the imposition of a sentence enhancement for obstruction of justice on the basis of defendant's perjury; and 4) the imposition of a fine in an amount above the sentencing guidelines recommendation.

[07/29] Fed. Trade Comm'n v. Whole Foods Market, Inc.
Denial of the FTC's request for a preliminary injunction against the merger of the Whole Foods and Wild Oats supermarket chains is reversed and remanded where: 1) the case was not moot despite the merger's having already occurred; 2) the district court did not abuse its discretion by considering the market definition proposed by the FTC, in which Whole Foods and Wild Oats compete in the "premium, natural, and organic supermarkets" (PNOS) market, not against all supermarkets; 3) the FTC met the threshold requirements for obtaining a preliminary injunction by demonstrating a likelihood of success on its claim that the two supermarkets did compete in the PNOS market; and 4) the district court was best positioned to balance the FTC's showing against the equities weighing against an injunction. (Amended and reissued opinion)

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Frequently Asked Questions

Can closely held businesses be bought and sold?

What are the possible consequences of personal liability for business debts and obligations?

What are the differences between C and S corporations?

What are the benefits and drawbacks of nonprofit, tax-exempt status?

What types of legal procedures should corporations maintain?

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From our offices in Englewood Cliffs, New York City, the trial attorneys at Fischer Porter Thomas & Reinfeld, P.C. represent clients throughout New York and New Jersey, including the following in New Jersey: Paramus, Englewood, Englewood Cliffs, Fort Lee, Teaneck, Alpine, Cresskill, Demarest, Edgewater, Cliffside Park, Ridgewood, Hackensack, Tenafly, Clifton and Jersey City. In New York, our lawyers assist clients throughout the New York City metropolitan area, including Nyack and Piermont, White Plains, Westchester, Manhattan, the Bronx, Brooklyn, Queens and Staten Island. Our law firm also represents clients throughout Bergen County, Essex County, Passaic County and Hudson County in New Jersey; as well as Nassau County, Bronx County, King County, Westchester County, Orange County and Rockland County in New York.

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