News
[04/10] Minutes: Fed divided over when to end stimulus
[04/10] Markets solid after early release of Fed minutes
[04/10] Oil falls below $94 ahead of US inventory figures
[04/09] Herbalife shares halted; reasons unclear
[04/09] Forecast-busting Alcoa earnings shore up markets
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Articles
Starting a Business: Fifty Things You'll Need to Do
You have just come up with a great idea, and you want to start a business. A word of caution is necessary: The Small Business Administration reports that about half of all small businesses fail within five years. Where should you begin planning?
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How do various forms of business operate?
There are several types of business entities available to entrepreneurs and business owners. Each form has legal and tax benefits and consequences. To learn about the business entities available in your state and which would best serve your goals, consult an experienced business attorney. The following is basic information on how various business entities operate:
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Case Summaries
[05/24] Massachusetts Retirement Systems v. CVS Caremark Corporation
Dismissal of a putative class action for securities fraud against defendant and certain of its current and former employees, is vacated and remanded, where: 1) plaintiffs' allegations indicate that the drop in defendant's share price was causally related to its misstatements regarding the integration of CVS and Caremark, and these allegations are sufficiently plausible to foreclose dismissal; 2) the new information revealed in the subject earnings call regarding the reason for the contract losses could plausibly have caused the plaintiffs' losses; and 3) the analyst reports should have been considered in deciding the motion to dismiss.
[05/24] Painter's Mill Grille, LLC v. Brown
The district court properly dismissed plaintiffs' complaint alleging that defendant-landlord and its agents, motivated by racial animus, interfered with plaintiffs' business and its opportunity to sell the restaurant, including its leasehold interest, in violation of federal statutes and state tort principles, where: 1) plaintiff principals do not have standing because they elected to conduct their business through a limited liability company; and 2) plaintiff company did not set forth sufficient facts to state a claim to relief that is plausible on its face, for any of its causes of action.
[05/21] CARCO GROUP, Inc. v. Maconachy
Judgment for plaintiffs and award of attorneys' fees in breach of contract action and related claims is: 1) vacated as to the district court's judgment and awards with respect to plaintiffs' breach of contract claim and remanded for further findings as to proximate causation; 2) vacated as to the award of attorneys' fees and remanded for recalculation of those fees following the district court's determination as to whether plaintiffs proved proximately-caused damages on the contract claim; 3) reversed with regard to the district court's decision that attorneys' fees should be reduced by twenty percent across-the-board, and the denial of interest on the attorneys’ fees awards; and 4) affirmed in all other respects.
[05/21] Hinojos v. Kohl's Corporation
District court's dismissal of claims under California’s Unfair Competition Law, Fair Advertising Law, and Consumer Legal Remedies Act brought by a plaintiff in a putative class action against defendant alleging false advertising, is reversed, where: 1) a consumer has "lost money or property" so long as false advertisements induced him to buy a product he would not have purchased or to spend more than he otherwise would have spent, and thus has standing to sue under the Unfair Competition Law and Fair Advertising Law because he has suffered an economic injury; 2) for the same reasons, plaintiff states a claim under the California’s Consumer Legal Remedies Act; and 3) defendant' motion to certify the issues to the California Supreme Court both on the merits and because defendant only requested certification for the first time after oral argument.
[05/21] Schwartz v. Provident Life and Accident Insurance Co.
Summary adjudication and subsequent judgment for defendant-insurer on plaintiff's claim alleging deceptive claims handling practices to wrongfully deny benefits to some insureds is affirmed, where: 1) plaintiff-insured was never denied benefits; and thus, 2) plaintiff-insured lacked standing to pursue an Unfair Competition Law cause of action because the plaintiff-insured had not suffered injury in fact nor lost money or property as a result of the unfair competition.
[05/21] In Re: Majestic Star Casino LLC
Summary judgment to debtors and certain of its subsidiaries and affiliates on their motion to avoid its controlling entity's termination of its status as an "S" corporation, an entity type that is not subject to federal taxation is vacated and remanded with directions to dismiss the complaint for lack of jurisdiction, where: 1) S-corp status is not "property" within the meaning of the Internal Revenue Code; 2) the debtors' QSub status was not "property" and the Bankruptcy Court's contrary conclusion was error; 3) even if the debtors' QSub status were "property," it is not properly seen as property of debtors' bankruptcy estate, and the contrary conclusion of the Bankruptcy Court cannot stand; and 4) debtors do not have standing to challenge the revocation of the tax status by its corporate parent.
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