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What’s the deal with Bitcoin? Bitcoin does not exist physically, although you must exchange hard currency to acquire it. Unlike cash, Bitcoin resides in your “electronic wallet” as a computer file. A network tracks the transfer of the computer files from purchaser to seller, but does not record the nature of the transaction. The value […]

Uber Suit Highlights Risk of Pre-Employment Background Checks The number of lawsuits against Uber, Inc. appears to be growing almost as quickly as the company’s app-based car service. The latest lawsuit involves the company’s use of pre-employment background checks. The proposed class-action suit, which was filed in New Jersey federal court, alleges that Uber violated […]

Hercules Offshore Inc., one of the largest global providers of offshore contract drilling and liftboat services to the oil and gas industry, filed for Chapter 11 bankruptcy protection on August 13. The company stated in court documents that it will implement a $1.2 billion debt-for-equity exchange with its senior bondholders. Hercules Offshore Inc. falls into debt […]

Can U.S. Supreme Court decisions influence the Securities Market? The impact of U.S. Supreme Court decisions is often far-reaching. However, as highlighted in a recent study, 1 in 20 rulings suggest that Supreme Court decisions influence the securities market. The study’s findings were particularly apparent in the wake of the Supreme Court’s decision to uphold […]

The New York State Department of Taxation and Finance recently issued a Technical Memorandum to finalize 2015 legislative amendments to NY estate tax reform. The provisions enacted in 2014 will be effective retroactive to April 1, 2015. The basic NY estate tax reform: exclusion amount increases In the Technical Memorandum, the Department of Taxation and Finance […]

What’s wrong with the arbitration process? U.S. District Judge Richard Berman recently vacated NFL Commissioner Roger Goodell’s decision, as an arbitrator, to uphold the four-game suspension of the New England Patriot’s Tom Brady due to what he considered a faulty arbitration process. This decision won’t only affect the way the league and its players interact, it could […]

On August 10, Response Genetics, Inc., one of the largest oncology-focused clinical sales companies in the U.S., announced that it filed for Chapter 11 bankruptcy protection. According to a Nasdaq report, the company has entered into an agreement to sell off all its assets to industry rival, Cancer Genetics Inc. Response Genetics falls into debt […]

The Third Circuit Court of Appeals recently held that any benefit denial letter sent by ERISA plan administrators must expressly state contractual time limits for bringing suit. The ruling in Mirza v. Insurance Administrator of America is in line with prior decisions by the First and Sixth Circuits. The Third Circuit Court of Appeals recently […]

The Securities and Exchange Commission has been moving more aggressively to state the types of activities that will result in a determination that a “finder” is acting as a securities broker-dealer. The SEC is also focusing on securities broker-dealer issues in its OCIE compliance exams of private investment funds, and has recently instituted a significant […]

Corporate Labor Attorney Gary S. Young authors article titled, “Wage-Violation Lawsuits By Restaurant Workers,” is featured by the New Jersey Restaurant Association. The decade-long, steadily increasing rise of wage-violation lawsuits by restaurant workers against their employers that has been making headlines was recently discussed in an article written by Scarinci Hollenbeck partner Gary Young, published […]

Last week, Samson Resources Corp., one of the largest oil and gas companies in the country, announced plans to file for Chapter 11 bankruptcy protection. According to Oil and Gas Investor magazine, Samson Resources will reach a deal with lenders to restructure its $4.15 billion debt. Samson Resources falls into debt The company is one […]

Although all individuals holding a life insurance policy own an investment, they did not have the legal right to exert control over the investments inside the policy. However, according to a recent ruling by the U.S. Tax Court, investors who exercise control over how money is invested are subject to tax on the investment income. […]