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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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All a Twitter: Why IPOs Are Back

Twitter, Inc. recently announced plans for an initial public offering (IPO). The news confirms that companies are increasingly deciding it’s a good time to get into the game. As of August 31, a total of 131 companies have filed to become public in 2013, compared with just 91 during the same time period last year. […]

Author: Dan Brecher

September 24, 2013

Moody's: Energy Future Holdings in Danger of Bankruptcy

Energy Future Holdings Corp. is facing a “high probability” of being forced to seek protection due to the danger of bankruptcy, according to a recent report from credit ratings agency Moody’s Investors Service. The ratings agency said that the energy giant will likely seek bankruptcy protection and establish a reorganization plan by the end of […]

Author: Joel R. Glucksman

September 24, 2013

Bankruptcy Protection

A-Rod May Bring Lawsuit Against MLB Before Arbitrator Hears Case

Alex Rodriguez‘s appeal of his 211-game doping suspension is set to begin on September 30, but the Yankees third baseman may not wait until then to bring a lawsuit against MLB (Major League Baseball). Under sports law, Alex Rodriguez may choose to file a federal lawsuit against MLB, which would disrupt and challenge MLB’s disciplinary process […]

Author: Anthony R. Caruso

September 23, 2013

Charitable Bequest of a Business and the Problems That Follow

It is not difficult to leave a business to charity, one makes a bequest. The difficulty, however, arises from the administrative and compliance issues faced as a result of such a charitable bequest make it impractical in most instances. The Internal Revenue Code (IRC) imposes numerous restrictions on these tax practices and discourages non-profit organizations […]

Author: James F. McDonough

September 23, 2013

NY Federal Court Rules Auditors Strictly Liable for Their “Opinions”

Ernst & Young and PriceWaterhouseCoopers will not be dismissed from the securities class-action lawsuit involving Overseas Shipholding Group, Inc. (OSG). The two firms provided auditing services to the now defunct company. The case revolves around OSG’s public offering of three hundred million dollars of unsecured notes. In connection with the transaction, OSG filed a Shelf […]

Author: Scarinci Hollenbeck, LLC

September 23, 2013

Securities attorney NYC

Court Upholds Law Prohibiting Sports Betting in New Jersey

The legalization of sports betting in New Jersey is becoming more bleak, following a court’s recent decision to uphold a lower court’s ruling prohibiting passage of the betting legislation. A three-panel federal appeals court affirmed the ruling that the Garden State’s new sports betting law violates federal statute, and therefore should not be implemented. While legal […]

Author: Anthony R. Caruso

September 20, 2013

IRS Goes After Michael Jackson's Estate for $702 Million Tax Bill

The estate of the late pop icon Michael Jackson is embroiled in a bitter battle with the IRS over a tax bill, interest, and penalties that involve a range of his assets. The agency issued an official Notice of Deficiency to the estate in May. The $702 million tax bill revolves around Jackson’s Neverland Ranch, his […]

Author: Frank L. Brunetti

September 20, 2013

Gov. Snyder Puts Positive Spin on Detroit Bankruptcy to Chinese Investors

Local and state governments, as well as the federal government, are not the only ones closely watching Detroit’s municipal bankruptcy proceedings. It appears that Detroit, which recently filed the largest municipal bankruptcy in U.S. history, has also garnered the attention of global investors who are making determinations about future investments into the struggling city. China, […]

Author: Joel R. Glucksman

September 20, 2013

Federal Trade Commission To Capitalize on Drug Patent

The Federal Trade Commission (FTC) is seeking to apply its success before the U.S. Supreme Court to another type of patent settlement. The agency has asked the U.S. District Court for the District of New Jersey to accept its amicus brief in In re Effexor XR Antitrust Litigation. The Federal Trade Commission brief argues in favor […]

Author: Fred D. Zemel

September 19, 2013

GateHouse Media Seeks Bankruptcy Protection

GateHouse Media, Inc., a company that owns more than 400 community newspapers and websites, announced its plans to seek bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. The publisher maintains operations in 20 U.S. states and brought in annual revenue of $489 million in 2012. However, declining sales and large printing expenditures since the […]

Author: Joel R. Glucksman

September 19, 2013

Treasury Releases Additional Guidance on Employer Mandate

The deadline for Employers to comply with the “Employer Mandate” provisions of the Patient Protection and Affordable Care Act (PPACA) has been postponed until 2015. In addition to the delay, the Treasury Department recently released new proposals that will further limit the compliance burdens placed on U.S. businesses. As we have previously discussed on this […]

Author: Gary S. Young

September 18, 2013

New Jersey Employment Lawyer

Will D.J. Fluker, Luther Davis Controversy Have Wider Implications for Sports Agent Laws in Certain States?

In the aftermath of an exclusive Yahoo! Sports report, which implicates five Southeastern Conference football stars in NCAA rule violations, the details of the case may have a broader impact on sports agent laws. The Yahoo investigation suggests that five players violated NCAA rules by receiving extra benefits prior to completing their collegiate careers. These players […]

Author: Anthony R. Caruso

September 18, 2013

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