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Biotech firm Savient Pharmaceuticals has sought protection under Chapter 11 of the bankruptcy law, due to years of disappointing sales for its primary product Krystexxa. Biotech firm Savient Pharmaceuticals has sought protection under Chapter 11 of the bankruptcy law, due to years of disappointing sales for its primary product Krystexxa. The Bridgewater, New Jersey-based company filed for […]

Ace Arts has brought a $100 million copyright lawsuit against Sony/ATV Music Publishing and Apple Corps Ltd. for allegedly sabotaging a Beatles documentary film that the company was making. The company, which is based in the U.S., was producing a Beatles documentary entitled, “The Beatles: The Lost Concert,” using footage from the group’s first concert […]

Mobile healthcare apps are big business. An estimated 500 million smartphone users worldwide will be using them by 2015. In response to the growing industry, the U.S. Food and Drug Administration (FDA) recently released its plan to regulate medical healthcare apps. The new rules will not impact tools that allow you to look up the […]

George Washington Carver Memorial Gardens Inc., which closed its doors in September, has sought bankruptcy protection under Chapter 7 of the bankruptcy law. Although the company, which owns a cemetery in the gardens, has been struggling financially for several years, residents with loved ones buried in the gardens and those who have purchased plots are concerned […]

An estate may, in certain circumstances, elect to pay estate tax in a series of payments over a number of years. This election is available to estates in which assets are used in an active trade or business comprise more than thirty-five percent (35%) of the estate. Payment of estate tax can be extended over […]

Many corporations are implementing strategies to reduce their liabilities under U.S. tax law, but as these practices come under more scrutiny from the Internal Revenue Service, some analysts are questioning whether they will remain viable in the future. For instance, the Financial Times recently highlighted a practice implemented by Google, which allowed it to funnel […]

Sports agents can be quite protective of the athletes they represent under talent agreements, as evidenced by a recent threat of legal action from Tiger Woods’ agent Mark Steinberg against Brandel Chamblee. Steinberg recently released a statement to ESPN.com over insinuations made by Golf.com’s Brandel Chamblee, who accused Woods of cheating during his PGA Tour. Chamblee insinuated that the player […]

The Age Discrimination in Employment Act (ADEA) protects employees and job applicants, 40 years and older, from discrimination on the basis of age in hiring, promotion, discharge, compensation, or terms, conditions or privileges of employment. Further, the ADEA does not permit involuntary retirement predicated on age except where age is a bona fide occupational requirement […]

The federal government shutdown has captured the attention of many analysts, especially with the approach of the Oct. 17 deadline to raise the debt ceiling and avoid a default on U.S. debt obligations. Given the potential global financial disaster that could follow such a default, some financial and capital market analysts are likening the situation […]

Detroit Lions defensive tackle Ndamukong Suh received his seventh fine from the National Football League, in what is being characterized as a “contact with the forehead-hairline” hit on Cleveland Browns quarterback Brandon Weeden. Suh said he plans to appeal the $31,500 fine. To date, Suh has been fined a total of $209,000 in his three-and-a-half-year career, and […]

The public is set to get its first in-depth look at one of the biggest frauds in U.S. history. The criminal trial of five former employees of Bernard Madoff begins in New York this month. While Madoff claims to have acted alone, the federal government’s investigation suggests otherwise. Key staff members, ranging from Madoff’s former […]

The U.S. Supreme Court has agreed to explore whether companies and employees must pay Federal Insurance Contributions Act (FICA) taxes on severance compensation. The results of the ruling could force the U.S. Department of Treasury to pay out roughly $1 billion in tax refund claims. The case centers around a dispute between bankrupt Quality Stores Inc. […]